Frontier IPO Presentation Deck

Reconciliation Of Adjusted CASM to CASM (Excluding Fuel) and Adjusted CASM including net interest: Adjusted CASM (excluding fuel) Aircraft fuel Derivative de-designation and mark to market adjustment (a) Adjusted CASM Net interest expenses (income) CARES Act-mark to market impact for warrants (b) Adjusted CASM + net interest CASM Net interest expenses (income) CASM + net interest $mm 456 Source: Company filings FRONTIER 2017 Per ASM 5.22€ 2.07 7.29€ (0.02) 7.27€ 7.59€ $ (0.02) 7.57€ Due to the significant reduction in demand resulting from the COVID-19 pandemic, our future anticipated consumption of fuel dropped significantly and we therefore de-designated hedge accounting in March 2020 on the derivative positions where the future consumption was not deemed probable, which primarily related to our written put options on our costless collars. The $52 million charge is the result of the de-designation and the resulting mark to market impact on the quantities where consumption was not deemed probable. Represents the mark to market adjustment to the value of the warrants issued as part of the funding provided by the U.S. Treasury under the CARES Act. This amount is a component of interest expense. $mm 589 (13) 1 (13) 2018 Year ended December 31, Per ASM 5.44¢ 2.39 7.83 (0.05) 7.78¢ 8.38€ (0.05) 8.33€ Smm 640 (16) 1 (16) 2019 Per ASM 7.71€ (0.06) 7.65€ FINANCIAL DETAILS 7.82€ (0.06) 7.76€ $mm 338 (52) 7 7 2020 Per ASM 8.63€ 2.00 (0.31) 10.32€ 0.04 (0.05) 10.31¢ 9.53€ 0.04 9.57€ 41

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