jetBlue Results Presentation Deck

Operating expense, (loss) income before taxes, net (loss) income, and (loss) earnings per share, excluding special items and net gain (loss) on investments Our GAAP results in the applicable periods were impacted by charges that are deemed special items. For the three and nine months ended September 30, 2022, special items include an impairment on our E190 fleet as well as retirement costs related to our E190 fleet, an ALPA ratification bonus and associated payroll taxes, expenses related to our takeover bid of Spirit airlines, and expenses related to implementation of our flight attendants' collective bargaining agreement. Special items for the three and nine months ended September 30, 2019 include one-time costs related to the Embraer E190 fleet transition as well as one-time costs related to the implementation of our pilots' collective bargaining agreement. Mark-to-market and certain gains and losses on our investments were also excluded from our 2022 GAAP results. We believe the impact of these items distort our overall trends and that our metrics are more comparable with the presentation of our results excluding the impact of these items. The table below provides a reconciliation of our GAAP reported amounts to the non- GAAP amounts excluding the impact of these items. jetBlue NON-GAAP FINANCIAL MEASURE RECONCILIATION OF OPERATING EXPENSE, (LOSS) INCOME BEFORE TAXES, NET (LOSS) INCOME, AND (LOSS) EARNINGS PER SHARE EXCLUDING SPECIAL ITEMS AND NET GAIN (LOSS) ON INVESTMENTS (in millions, except per share amounts) (unaudited) Total operating revenues Total operating expenses Less: Special items Total operating expenses excluding special items (Loss) earnings per common share: Basic $ Operating (loss) income Add back: Special items Operating (loss) income excluding special items Operating margin excluding special items (Loss) income before income taxes Add back: Special items Less: Net gain (loss) on investments (Loss) income before income taxes excluding special items and net gain (loss) $ on investments Pre-tax margin excluding special items and net gain (loss) on investments Net (loss) income Add back: Special items Add back: Special items, net of tax Less: Net gain (loss) on investments, net of tax Basic excluding special items and net gain (loss) on investments $ Diluted Add back: Special items, net of tax Less: Net gain (loss) on investments, net of tax Diluted excluding special items and net gain (loss) on investments $ $ $ Less: Income tax (expense) benefit related to special items Less: Net gain (loss) on investments Less: Income tax (expense) benefit related to net gain (loss) on investments Net (loss) income excluding special items and net gain (loss) on investments $ $ $ $ $ $ $ Three Months Ended September 30, 2019 2022 2,562 $ 2,423 13 2,410 139 13 152 5.9% 118 4.6% 57 13 1 105 $ 13 69 0.18 0.03 0.21 0.18 0.03 $ 0.21 $ $ $ $ $ $ $ $ $ $ 2,086 1,839 1,839 247 11.8% 247 $ 254 15 239 11.4% 187 15 (4) 176 0.63 0.04 0.59 0.63 $ 0.04 0.59 $ $ $ $ $ $ $ $ $ $ $ Nine Months Ended September 30, 2022 6,743 (341) 57 (284) 7,084 57 7,027 $ -4.2% (443) 57 (4) (382) -5.7% (386) 57 7 (4) (332) (1.20) 0.16 (0.01) (1.03) $ (1.20) 0.16 (0.01) (1.03) $ $ $ $ $ $ $ $ $ $ $ 2019 6,063 5,490 14 5,476 573 14 587 9.7% 548 14 15 547 9.4% 408 14 3 15 (4) 408 1.36 0.03 0.04 1.35 1.35 0.03 0.03 1.35 19

View entire presentation