Continued Strong EBITDAR Margins

Fleet Renewal and Reconfiguration Fleet renewal will drive a step-change in hard product AIR CANADA AIR CANADA AIR CANADA AIRLANABA Boeing 777 (Up to 25 Aircraft) Boeing 787 (Up to 37 Aircraft) Rockwell Collins Super Diamond Business Premium Economy Cabin AVOD IFE in every seat WiFi (by 2019) New Look Interiors STANDARDIZED PRODUCT 777 / 787 Boeing 737MAX (Up to 61 Aircraft) Bombardier CS300 (Up to 45 Aircraft) Longer range provides expanded deployment opportunities New Business seat Larger Preferred Seat section AVOD IFE in every seat WiFi (at EIS) New Look Interiors STANDARDIZED PRODUCT 737 MAX / CS300 Over 80% of Air Canada's mainline fleet will have industry-leading products by 2020 41

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