FY 2016 Results

Cost gap widens Lowest Cost Wins ✈ 5 year pay/productivity deals agreed - 84 bases ✈ Pay freeze - middle & senior mgt. ✈ Vol. growth deals (50:50 prim / second) ✈ Low cost aircraft & finance (hedged @ $1.31) ✈ Fuel Hedged - FY17 95% @ $622 saves €200m -FY18 44% @ $500 saves €160m — Personalisation = lower S&M cost per c'mer ✈ B737-MAX "Gamechanger" - 16% fuel savings RYANAIR LOW FARES. MADE SIMPLE. - 8 more seats (197 v 189) 15

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