2022 Investor Day New York Stock Exchange

Environmental Sustainability We have made progress toward our goal to achieve full carbon neutrality by 2050 and continue to expect to achieve our near-term goals by 2030 Environmental sustainability targets through 2030: Maintain carbon neutral growth to 2019 levels every year through 2030 Cap net carbon emissions at 2019 levels as available seat mile (ASM) growth resumes Reduce: At least 20% reduction in carbon emissions intensity by 2030 vs. 2019 Reduce carbon emissions per ASM through a combination of fleet modernization and operational fuel conservation efforts Replace: 10% of total fuel replaced with SAF by 2030 Secure diverse portfolio of sustainable aviation fuel (SAF) through offtake agreements Offset: Purchase carbon offsets for remaining gap to meet 2030 target Launch a Customer carbon offset program, with matching and Rapid Rewards points; and purchase additional carbon offsets, as needed Key actions taken: ● Published SAF policy Secured SAF offtake agreements with Neste and Velocys Launched SAF use at Oakland Airport Invested in SAFFIRE Renewables Continued fleet modernization and plan to retire 26 older 737-700 aircraft in 2022 Launched Wanna Offset Carbon program Purchased carbon offsets to offset Employee business and charitable travel for 20211 Launched work to support TCFD² reporting for 2022 reporting year Committed $10M to Yale University's Center for Natural Carbon Capture We made great progress in 2022 with line of sight to achieving 2030 goals 1. The funds used to purchase the 2021 offsets came from the Southwest Airlines Foundation, a corporate advised fund facilitated by Silicon Valley Community Foundation. The 2021 offsets were purchased through a donation to Carbonfund, a non-profit that provides carbon offsetting and greenhouse gas reduction options to individuals, businesses, and organizations. Business Page 11 travel represents Company Non-Revenue Must Ride (NRMR) flights, inclusive of all Frontline and Headquarters Employees' work-related travel, including deadheading Employees. This Southwest excludes flights flown on other airlines. Charitable travel represents E-passes donated to national and local charitable partners and programs. 2. Task Force on Climate-Related Financial Disclosures (TCFD)

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