Ryanair Low Fares Made Simple

Disclaimer IMPORTANT: The following applies to this presentation, the oral presentation of the information in this document by Ryanair DAC (the "Company") or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation. By attending the meeting where this presentation is made, by attending any question-and-answer session or by reading the presentation slides, you agree to be bound by the following limitations. This presentation is not for publication, release or distribution, into the United States or any other jurisdiction in which such dissemination would be unlawful. This presentation and the information contained herein are not an offer of securities for sale in the United States or any other jurisdiction. No action has been or will be taken by the Company in any jurisdiction that would, or is intended to, permit a public offering of securities in any jurisdiction where action for that purpose is required. In particular, no securities have been or will be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States and securities may not be offered, sold or delivered within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws and may only be sold outside the United States in reliance on Regulation S under the Securities Act and otherwise in compliance with all applicable laws and regulations in each jurisdiction in which any such offer, sale or delivery of securities is made. The Company does not intend to register or to conduct a public offering of any securities in any jurisdiction. This presentation and its contents may not be viewed by persons within the United States (within the meaning of Regulation S under the Securities Act). This presentation may not be provided to any person in a member state of the European Economic Area ("EEA") which has implemented the Prospectus Directive (each, a "relevant member state") (except for the United Kingdom), who is not a "qualified investor" (as that term is defined in Article 2(1)(e) of the Prospectus Directive). This presentation must not be acted on or relied on in any member state of the EEA by persons who are not qualified investors. In any member state of the EEA, any investment or investment activity to which this presentation relates is available only to qualified investors to whom it may lawfully be communicated (all such persons together, "relevant persons"). Any investment activity to which this presentation relates is available only to and will be engaged in only with, relevant persons. This presentation does not constitute or form part of, and should not be construed as, an offer or invitation to sell securities of the Company, or the solicitation of an offer to subscribe for or purchase securities of the Company, and nothing contained herein shall form the basis of or be relied on in connection with any contract or commitment whatsoever. Any decision to purchase any securities of the Company should be made solely on the basis of the conditions of the securities and the information contained in the offering circular, information statement or equivalent disclosure document prepared in connection with the offering of such securities. Prospective investors are required to make their own independent investigations and appraisals of the business and financial condition of the Company and the nature of any securities before taking any investment decision with respect to securities of the Company. By accessing this presentation the recipient will be deemed to represent that they possess, sufficient investment expertise to understand the risks involved in any purchase or sale of any financial instrument or any other information contained herein. The information in this presentation has not been independently verified. No representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the presentation and the information contained herein. None of BNP Paribas, Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank, the Company, or any other person accepts any liability for any loss howsoever arising, directly or indirectly, from this presentation or its contents. This presentation contains certain forward-looking statements as defined under U.S. legislation. By their nature, such statements involve uncertainty; as a consequence, actual results and developments may differ from those expressed in or implied by such statements depending on a variety of factors which could cause actual results and developments to differ materially from those express or implied by the forward-looking statements including those identified in this presentation and other factors discussed in the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. It is not reasonably possible to itemise all of the many factors and specific events that could affect the outlook and results of an airline operating in the European economy. Among the factors that are subject to change and could significantly impact the Company's expected results are the airline pricing environment, fuel costs, "Brexit", competition from new and existing carriers, market prices for the replacement aircraft, costs associated with environmental, safety and security measures, actions of the Irish, U.K., European Union ("EU") and other governments and their respective regulatory agencies, fluctuations in currency exchange rates and interest rates, airport access and charges, labour relations, the economic environment of the airline industry, the general economic environment in Ireland, the UK and Continental Europe, the general willingness of passengers to travel and other economics, social and political factors and flight interruptions caused by volcanic ash emissions or other atmospheric disruptions. These and other factors could adversely affect the outcome and financial effects of events or developments referred to in this presentation on the Ryanair Group. Forward looking statements contained in this presentation based on trends or activities should not be taken as a representation that such trends or activities will continue in the future. Except as may be required by the rules of any applicable regulatory body or by law, the Company disclaims any obligation or undertaking to release publicly any updates or revisions to any forward statements contained herein. RYANAIR LOW FARES. MADE SIMPLE. 21

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