The Path Forward

STRONGER BALANCE SHEET Schedule of Principal Repayment on Debt is Manageable C$ (millions) 412 361 485 ROY 2013 Assumes potential refinancing 2014 Includes principal repayments from EETC financing 2015 U.S. dollar amounts are converted using the March 31, 2013 closing rate of CDN $1.016 2013 INVESTOR DAY 18

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