Ryanair Q3 Results - Jan 2023

Summary ✈ FY23 Traffic: 168m pax (+13% pre-Covid) ✈ Q4 loss - no Easter in Mar. ✈ FY23 PAT guide raised - €1.325bn to €1.425bn Strong return of U.S. & Asian visitors to Eur. in S.23 Robust S.23 demand - target 185m pax in FY24 ✈ Faster post-Covid growth: 225m pax p.a. by FY26 ✈ Strong BBB (pos.) bal. sheet = fleet & market share gains ✈ Fin. strength + lowest cost = L.T. winner 11 (i) pre-except PAT subj. to no adverse events (such as Covid or war in Ukraine) RYANAIR Low fares, great care BUZZ Lauda *MALTA AIR (i) RYANAIR RYANAIR

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