Investor Presentaiton

-FINANCIAL FINANCIAL DETAILS METRIC CAM ADJ. EBITDA* 2022 2023E 2024E 2025E 426 430-435 465-470 525-530 ACMI+OTHER ADJ. EBITDA* 215 180-185 180-185 175-180 ATSG ADJ. EBITDA* 641 610-620 645-655 700-710 CAPEX (599) (785) (605) (320) GROWTH CAPEX (412) (545) (440) (170) SUSTAINING CAPEX (187) (240) (165) (150) Adj. FCF* 285 371 385 380 FREE CASH FLOW* * Non-GAAP measure, please see enclosed GAAP reconciliation (127) (193) (55) 210 ($ in millions) Slide 166 ATSG

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