Frontier IPO Presentation Deck

High Growth + Strong Financial Results Available Seat Miles (millions) 22,049 2017 635 +11.7% 2017 33% 24,629 2018 Adj. EBITDAR ($M) and Adj. EBITDAR Margin (%) 755 582 +14.2% 28,120 2018 27% 2019 2019 30% Passengers (thousands) 17,008 2017 206 +16.7% 2017 11% 19,843 2018 Adj. Net Income ($M) and Adj. Net Margin (%) 276 183 +15.0% 22,823 2018 8% 2019 2019 11% Note: Effective 1/1/19 under lease accounting standard ASU 2016-02, gains on sale-leaseback transactions (subject to adjustment for off-market terms) are recognized immediately; See Appendix for reconciliation of Non-GAAP financial metrics: Source: Company filings FRONTIER 18

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