Investor Presentaiton

Segment performance - Virgin Australia International and Velocity International performance affected by higher costs and challenging market conditions Virgin Australia International Total Revenue ($m) EBIT ($m) Guests (m) ASKS (m) RASK (c.) For personal use only Virgin australia group 1H20 1H19 Change 686.4 666.1 +3.0% Revenue growth driven by Trans Tasman post end of Air New Zealand alliance (48.9) (15.2) (221.7%) 1.56 1.45 +7.3% Withdrawal from Hong Kong operations in March 2020 due to challenging conditions, EBIT loss of $130 million since commencement 8,904 9,007 (1.1%) Fuel up $20.3 million and product investment on Short Haul International offsetting revenue growth 7.7 7.4 +4.2% Strong EBIT performance driven by ongoing member revenue growth Velocity Frequent Flyer 1H20 1H19 Change Revenue growth driven by airline partners and financial services Total Revenue ($m) EBIT ($m) Members (m) 215.4 208.9 +3.1% • Margin improvement reflects focused cost management and increased participation 68.9 59.0 +16.8% 10.1 9.5 +6.3% Velocity acquisition completed with focus on increased returns per member and broader partner base Investment in data and digital integration driving deeper member personalisation and responsiveness to members 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 Segment financials excl AASB 16 to enable prior year comparison. This page contains Non-Statutory measures which are defined on slide 23. Following modification of accounting presentation for unrealised Foreign Exchange, 1H19 numbers have been restated accordingly. Virgin Australia Group results H1 FY20 | 6

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