Frontier IPO Presentation Deck

Strong Relative 2020 Performance; ULCC Model Resilient Only U.S. airline to achieve positive 2020 EBITDAR¹ Load Factor Full Year 2020 Capacity % Decline (ASMS) Y/Y - Full Year 2020 RASM % Decline Y/Y - Full Year 2020 EBITDAR Margin Full Year 2020 Net Income Margin Full Year 2020 Net Income per Aircraft per Day² Full Year 2020 67% (40%) (17%) 5% (18%) (6.1K) Other ULCCs Middle Three 64% (26%) (31%) (6%) (21%) (6.5K) 59% (52%) (25%) (38%) (48%) (15.4K) Big Four 58% (48%) (28%) (37%) (51%) (17.6K) 1: Among U.S. carriers of significant size; 2: Aircraft count is the average of the period end and the four previous quarter ends (previous year 4Q + 1-40 noted year) where available and the average of FY19 and FY20 otherwise; Note: Other ULCCS, Middle Three, and Big Four based on simple average calculations; EBITDAR calculated as operating income plus Depreciation & Amortization plus aircraft rent/operating lease costs per company filings; Source: Respective companies' public filings FRONTIER 16

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