Investor Presentaiton

1H20 highlights FINANCIAL PERFORMANCE (All Pre-AASB16 unless otherwise stated) Record 1H20 revenue of $3,116.3 million and 2.5 per cent RASK growth Underlying Profit Before Tax of $14.5 million Statutory Loss After Tax of $88.6 million (post-AASB 16) Cash balance of $1,107.6 million For personal use only UPDATE ON STRATEGIC AND COST MANAGEMENT INITIATIVES Group network capacity reduction of 3% in 2H20; and 5% Group capacity reduction in FY21 to meet market conditions Acceleration of Tigerair's transition program to all Boeing 737 fleet. Nine A320 aircraft to exit Tigerair's fleet by October 2020, including the two A320 aircraft announced in November Total of 12 aircraft exits announced since November 2019, including three Fokker 100 aircraft New organisational structure and executive leadership team; workplace reduction program and supplier review on track Full ownership of Velocity Frequent Flyer business Exit of all Hong Kong flying by March 2020 CONTINUED FOCUS ON CUSTOMER EXPERIENCE Strong customer satisfaction rating, with highest first half Net Promoter Score (NPS) score in four years Best performance of a major airline for on time departures and arrivals in 1H20 and the major airline least likely to cancel flights Launch of Brisbane-Tokyo flights in March 2020 Virgin Australia Group has implemented AASB 16 Leases from 1 July 2019 using the modified retrospective approach. Under this approach, prior year comparative information has not been restated. Year on year changes and commentary have been based on pre-AASB 16 information ("pre-AASB 16") to allow for comparison. 1H20 comparison for the Group between pre and post AASB 16 is provided on slide 16 for operating performance and slide 17 for cashflow. 1H20 financials exclude AASB 16 to enable prior year comparison unless otherwise stated. This page contains Non-Statutory measures which are defined on slide 23 Virgin Australia Group results H1 FY20 | 2 Virgin australia group

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