Aircraft Fleet Investment Overview

Key Structural Elements Two Classes of Certificates Class AA and Class A Certificates will each have bullet maturities KEEP CLIMBING ▲ DELTA • Each class of Certificates will benefit from a separate Liquidity Facility covering three semiannual interest payments Additional Certificates (1) Delta retains the option to issue additional subordinated classes of Certificates at any time on or after the Closing Date Cross-Collateralization and Cross-Default of all Aircraft " The Equipment Notes will be cross-collateralized by all aircraft in the portfolio All indentures will include cross-default provisions Waterfall Same waterfall both before and after an Indenture Event of Default Interest on Eligible Pool Balance of the Class A Certificates is paid ahead of principal on the Class AA Certificates Buyout Rights After a Certificate Buyout Event, subordinated Certificate holders have the right to purchase all (but not less than all) of the then outstanding more senior classes of Certificates at par plus accrued and unpaid interest (1) See preliminary Prospectus Supplement for further details

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