jetBlue Results Presentation Deck

Operating expense, income before taxes, net income and earnings per share, excluding special items and gain on equity method investments Our GAAP results in the applicable periods were impacted by charges that are deemed special items and an one-time gain on equity method investment. In 2020, special items include contra-expenses recognized on the utilization of payroll support grants received under the CARES Act, contra-expenses recognized on the Employee Retention Credits provided by the CARES Act, impairment charges of our Embraer E190 fleet, losses generated from certain sale-leaseback transactions, and one-time costs associated with our voluntary crew member separation programs. Special items for 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. We believe the impacts of these items distort our overall trends and that our metrics and results are 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 impacts of these items. jetBlue NON-GAAP FINANCIAL MEASURE RECONCILIATION OF OPERATING EXPENSE, INCOME BEFORE TAXES, NET INCOME AND EARNINGS PER SHARE EXCLUDING SPECIAL ITEMS AND GAIN ON EQUITY METHOD INVESTMENTS (in millions, except per share amounts) (unaudited) Total operating revenues Total operating expenses Less: Special items Total operating expenses excluding special items 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: Gain on equity method investments (Loss) income before income taxes excluding special items and gain on equity method investments Pre-tax margin excluding special items and gain on equity method investments Net (loss) income Add back: Special items Less: Income tax (expense) benefit related to special items Less: Gain on equity method investments Less: Income tax (expense) related to gain on equity method investments Net (loss) income excluding special items and gain on equity method investments (Loss) Earnings Per Common Share: Basic Add back: Special items, net of tax Less: Gain on equity method investments, net of tax Basic excluding special items and gain on equity method investments Diluted Add back: Special items, net of tax Less: Gain on equity method investments, net of tax Diluted excluding special items and gain on equity method investments $ $ $ $ $ $ $ $ $ $ Three Months Ended December 31, 2020 661 $ 1,115 (69) 1,184 -79.1% (454) $ (69) (523) (512) (69) (581) -87.9% (434) (1.34) (0.19) (1.53) $ (1.34) (0.19) $ (381) $ (69) (16) (1.53) $ $ $ $ $ $ $ $ 2019 2,031 1,804 1 1,803 227 1 228 11.2% 220 1 221 10.9% 161 1 162 0.56 0.01 0.57 0.56 0.56 $ $ $ $ $ $ $ $ $ $ $ $ $ Twelve Months Ended December 31, 2020 2,957 4,671 (283) 4,954 (1,714) (283) (1,997) -67.5% (1,893) (283) (2,176) -73.6% (1,362) (283) (69) (4.91) (0.77) (5.68) (4.91) (0.77) $ (5.68) $ $ $ $ (1,576) $ $ $ $ $ $ $ $ 2019 8,094 7,294 14 7,280 800 14 814 10.1% 768 14 15 767 9.5% 569 14 4 15 (4) 568 1.92 0.04 0.04 1.92 1.91 0.03 0.04 1.90 22

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