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Investor Presentaiton

+ 3 A steady and solid improvement of financial performance before crisis AIRFRANCE KLM GROUP Steady revenue growth # Passengers 90 93 (m) Revenue in €m 25,691 24,846 99 Demonstrated resilience of operating performance 101 104 Margin (%) 13% +6% 26,224 25,867 2015 2016 2017 2018 15% 27,189 EBITDA in €m (EBITDAR before 2017) 4,763 3,787 3,414 2019 18% +21% 16% 4,293 4,128 15% 2015 2016 2017 2018 2019 Established track record of reduction in leverage Net debt/EBITDA trailing 12 months (New IFRS accounting standards after 2016) 3.4x 2.9x 1.3x 1.4x 1.5x 2015 2016 2017 2018 2019

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