Investor Presentaiton

The Power Of The Delta And American Express Partnership Delta-American Express Contribution ($B) Growth Opportunity Less than 1/3 of our SkyMiles members have a Co-Brand credit card AMERICAN EXPRESS Profile Of Co-Brand Cardholders Trips / Year ~6 Avg. Spend vs. Non-Member 2 4-5x A DELTA SKYMILES >))) 7997 CFFROST Member Since 96 ~$3 ~$7 >$5 ~$4 ~$4 2017 2019 2021 2022E 2024E Higher Contribution Primarily Driven By Accelerating Acquisitions And Strong Spend Growth 16

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