Frontier Mergers and Acquisitions Presentation Deck

More Effective Ultra-Low Fare Competitor Against the Big Four spirit FRONTIER Source: Company filings. 2021 Available Seat Miles $195 American $211 Delta $244 United $128 $108 Southwest $182 Combined Company $X Total Passenger Revenue per Passenger, 2019 JetBlue $173 The Big Four airlines are on average 80% + more expensive per passenger relative to the Combined Company $109 With an ultra-low base fare of only $54, customers of the Combined Company pay only for the services they value, further increasing choice and savings Alaska $107 $112 S Allegiant 7

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