Frontier Investor Conference Presentation Deck

More Effective Ultra-Low Fare Competitor Against the Big Four spirit FRONTIER 2021 Available Seat Miles $195 American $211 Source: Company filings. Delta $244 United $128 $108 $182 Southwest Combined Company $X Total Passenger Revenue per Passenger, 2019 $173 JetBlue $109 The Big Four airlines are on average 80% + more expensive per passenger relative to the Combined Company With an ultra-low base fare of only $54, customers of the Combined Company pay only for the services they value, further increasing choice and savings Alaska $107 $112 S Allegiant 8

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