Investor Presentaiton

+ Air France-KLM Group medium term operating margin objective unchanged Guidance elements AIRFRANCE KLM 1. Capacity back to 2019 levels in 2024 GROUP 2. Unit cost down 4% to 6% at constant fuel price when capacity are back to 2019 level 3. Operating margin at 7-8% as of 2024 4. Adjusted Operating Free Cash Flow expected to be positive in 2023 excluding exceptionals(") 5. Confirmed objective of a targeted Net debt / EBITDA ratio of circa 2.0x to 2.5x by 2023 39 (1) Exceptionals include the payment of the cargo claim and the deferrals of social charges accumulated during the Covid-19 period

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