Frontier IPO Presentation Deck

Frontier Thrives in Challenging Environments Adjusted net income (SM) 236 FY16 Industry fare pressures & capacity growth 2016-2019: $1.3B cash generation¹ $901M adjusted net income 206 FY17 Fare war 183 FY18 Labor disruption & crude oil increases to $65+/barrel 276 1: Cash generation defined as Adjusted EBITDA less net capital expenditures (capex, net PDP payments, and proceeds from sale of equipment) Source: Company filings FRONTIER FY19 New pilot & flight attendant contracts 15

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