Investor Presentaiton

2. MAINTAIN INVESTMENT GRADE BALANCE SHEET Investment Grade Balance Sheet Provides Powerful Advantage S&P Global MOODY'S MOODY'S Fitch Ratings Adjusted Debt / EBITDAR BBB- Baa3 BBB- • Robust cash generation and strong balance sheet position Delta to: Consistently reinvest in the business Seize strategic opportunities - Return cash to shareholders Manage through a business cycle Note: Excludes underfunded pension obligations and includes debt for existing lease obligations 2010 2017 2019E Long-Term Target 1.5x - 2.5x ADELTA 76

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