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Investor Presentaiton

INITIATIVE #4: LOYALTY REVENUE Amex Partnership Creates Value for Delta and Our Customers New and improved co-brand card benefits and refreshed marketing will accelerate acquisitions and drive portfolio spend 1M+ New card acquisitions for past three years 12%+ Portfolio spend CAGR since 2012 Delta-Amex Contribution $3.4B -15% CAGR ~$4.4B ~$4B 2018 2019E 2020E ADELTA 55

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