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Investor Presentaiton

MEDIUM TERM OUTLOOK Capacity back to 2019 levels (as from 2024) Decrease of the Unit cost² by -1% to -4% (versus 2022) Reach Operating Margin 7% to 8% Maintain positive Adj Operating Free Cash Flow excl. exceptionals³ Maintain Net debt/EBITDA ratio between 1.5x and 2.0x 123 1) Refers to 2024-2026 period 2) At constant fuel price including SAF, constant currency and excluding Emission Trading Scheme cost (ETS) AIRFRANCE KLM 3) Exceptionals include the payment of the cargo claim and the deferrals of social charges and wage taxes accumulated during the Covid 19 period GROUP 25
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