Investor Presentaiton

2012: Another Year of Strong Performance ▲ DELTA • • At last year's investor day, we laid out our 2012 goals: Generate solid earnings growth and free cash flow Continue revenue momentum from corporate share gains, new merchandising revenues and strong operational performance • Make Delta an airline customers prefer • Reduce labor, financial and operational risk to create a more stable business model in a volatile industry • Our 2012 accomplishments: Despite difficult economic conditions, delivering $1.6 billion profit, 100 bps pre-tax margin expansion, and $1 billion free cash flow (excluding refinery) • 20 consecutive months of generating a revenue premium to the industry • • Recognized as leading airline by Business Travel News and only airline to improve overall score in JD Power survey Improvements in all operational metrics, industry-leading employee morale, and more than $1 billion of balance sheet delevering Note: All results exclude special items and mark to market adjustments on open fuel hedges 11

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