Fourth Quarter & FY2023 Financial Update

Full-year 2025 Target Based on the current operating environment, we are targeting margin expansion in 2025 as we realize a full year of benefits from network, revenue and cost initiatives FY2025 TARGET 10 - 14 % Adj. Pre-tax Margin¹ (non-GAAP) ¹ Adjusted pre-tax margin excludes, among other things, special items. We are unable to reconcile these forward-looking projections to GAAP as the nature or amount of such special items cannot be determined at this time. See slides 2 and 3 for a cautionary statement regarding forward-looking statements. 12 FRONTIER

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