jetBlue Mergers and Acquisitions Presentation Deck

Spirit's Board pretends there is a big difference in regulatory risk but BOTH deals create the number 5 player with very similar market share jetBlue Market share (2021) #9 Other #8 Frontier 3% #7 JetBlue 4% #6 4% Spirit #5 Alaska 8% 5% United 14% #4 #1 American 23% Delta 20% Southwest 19% #3 #2 Pro forma Spirit + JetBlue Other 8% Frontier 3% 5% Alaska Source: Based on 2021 nonstop US passenger seats (ending December 2021). #5 JetBlue + Spirit 8% American 23% United 14% Delta 20% Southwest 19% Pro forma Spirit + Frontier Other JetBlue 4% 5% Alaska 8% #5 Frontier + Spirit 7% American 23% United 14% Delta 20% Southwest 19% JetBlue + Spirit would have a combined 8% market share vs. 7% for Frontier + Spirit – a single percentage point of difference - which is completely misrepresented by the Spirit Board 27

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