Investor Presentaiton

Non-Fuel Cost Framework On Track Non-Fuel CASM Impact Versus 2019 2021 2022E Transition ~4 pts ~1-2 pts Underlying Business ~7 pts ~5-6 pts Investments -1 pt ~1-2 pts ☐ Non-Fuel CASM vs. 2019 11% Up 7-10% Capacity vs. 2019 71% ~90% NF CASM in 1H'22 on higher end of initial expectations due to lower capacity and higher selling-related costs - Expect 1H'22 NF CASM to be up mid-teens versus 2019 As capacity restoration progresses in 2H'22, expect to see scale and efficiency benefits in Underlying Business - Expect 2H'22 NF CASM to be up mid-single digits versus 2019 Capacity Is The Key Lever To Improving Non-Fuel CASM Levels Versus 2019 As Scale And Efficiency Are Restored Note: Adjusted for special items; non-GAAP financial measures reconciled in the Appendix 6

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