Bank of America Merrill Lynch 2015 Transportation Conference

These strengths have helped us more than double our revenue over the last 12 years... 12 $2.4B $2.3B 2003 $2.7B $3.0B $2.5B $2.7B 2004 2005 $3.3B $3.1B 2006 7.4% CAGR ■Pax Revenue ■ Other Revenue $3.6B $3.5B $3.3B 2007 $3.4B 2008 $3.4B $3.8B $3.1B $3.3B 2009 2010 $4.3B $3.7B Alaska is a growth company 2011 $4.6B $5.0B $4.0B $4.3B 2012 2013 $5.4B $4.5B 2014 Alaska

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