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Pobeda Airline: Group’S Low Cost Carrier

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Pobeda Airline: Group’S Low Cost Carrier 1881537-001.pptx 232 Chart Colours 235 240 182 196 204 135 157 179 Aeroflot Group 0 112 192 6 Months 2016 Financial Results 59 100 135 0 176 80 22 44 66 1 40 Shamil Kurmashov, Deputy CEO for Commerce and Finance 120 Giorgio Callegari, Deputy CEO for Strategy and Alliances 0 Message text 128 0 Moscow, Russian Federation 255 Highlight 0 29 August, 2016 0 1 Table line colour 178 178 178 Disclaimer 232 Chart Colours 235 240 This document has been prepared by PJSC “Aeroflot” (the “Company”). By attending the meeting where the presentation is made, or by reading the 182 presentation slides, you agree to the following. 196 204 This document does not constitute or form part of any advertisement of securities, any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for, any securities of the Company in any jurisdiction, nor shall it or any part of it nor the fact of its presentation or distribution form 135 157 the basis of, or be relied on in connection with, any contract or investment decision. 179 No reliance may be placed for any purpose whatsoever on the information contained in this document or on assumptions made as to its completeness. 0 No representation or warranty, express or implied, is given by the Company, its subsidiaries or any of their respective advisers, officers, employees or 112 agents, as to the accuracy of the information or opinions or for any loss howsoever arising, directly or indirectly, from any use of this presentation or its 192 contents. 59 This document may include forward-looking statements. These forward-looking statements include matters that are not historical facts or statements 100 regarding the Company’s intentions, beliefs or current expectations concerning, among other things, the Company’s results of operations, financial 135 condition, liquidity, prospects, growth, strategies, and the market in which the Company operates. By their nature, forwarding-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The Company cautions you 0 that forward-looking statements are not guarantees of future performance and that the Company’s actual results of operations, financial condition and 176 80 liquidity and the development of the market in which the Company operates may differ materially from those made in or suggested by the forward- looking statements contained in this document. The Company does not undertake any obligation to review or confirm expectations or estimates or to 22 update any forward-looking statements to reflect events that occur or circumstances that arise after the date of this presentation. 44 66 1 40 120 0 Message text 128 0 255 Highlight 0 0 2 Table line colour 178 178 178 6M 2016 Highlights 232 Chart Colours 235 240 Aeroflot Group 182 • Aeroflot Group carried 1.8 million more passengers in 6M 2016 compared to 6M 2015 (+10.3% 196 passenger traffic; growing seat load factor of 78.6%). 204 • Expansion in the number of customers resulted in market share increase by 7.6 p.p. from 37.0% in 6M 2015 to 44.6% in 6M 2016. 135 157 • Strong 6M 2016 financials results: 179 - Total revenue up 26.8% y-o-y 0 - Strong yield performance on scheduled flights (+14.6%) exceeding CASK inflation (+8.6%) 112 192 - EBITDAR and EBITDA margins of 26.1% and 13.4% - Strong operating and free cash flow generation 59 - Deleveraging due to debt repayment ahead of the schedule and positive lease revaluation 100 (Net debt/EBITDA down to 1.6x) 135 Macro and Aviation Market 0 176 • Russian aviation market is under continuing pressure having demonstrated a traffic decline 80 of 8.5% y-o-y in 6M 2016 on the back of challenging economic environment. 22 • Domestic flights traffic growth of 7.7% y-o-y driven by continued refocusing from international 44 66 destinations as well as additional demand stemming from low-cost segment. • Traffic in international segment declined by 23.1% y-o-y as a result of RUB depreciation and 1 respective weakening of consumer confidence. 40 120 • Foreign and domestic carriers further optimizing capacity either by suspending flights, or reducing frequencies and seating capacities. 0 Message text 128 0 255 Highlight 0 0 3 Table line colour 178 178 178 232 Chart Colours 235 240 182 1. Market Update 196 204 2. Aeroflot Group Overview 135 157 179 3. Operating Performance 0 112 192 4. Revenue and Yield Management 59 100 135 5. Fleet Overview 0 176 6. Financial Performance 80 22 7. Capital Structure and Liquidity 44 66 8. Appendix 1 40 120 0 Message text 128 0 255 Highlight 0 0 4 Table line colour 178 178 178 Russian Air Transportation Market: Room for Growth 232 Chart Colours 235 240 Russian Total Passenger Traffic Growth, mn PAX(1) Trips per Capita (2) Despite fast growth of the recent years, 182 Total CAGR 8.8% 3.54 Russian airline industry still has 196 International – 5.8% | Domestic – 12.5% (4.1)% promising growth prospects compared 204 to European & US markets 150.0 Change 2.81 103.7 111.8 107.2 FY14-15 135 91.6 100.0 157 80.1 (16.6)% 1.66 70.5 2.18 1.51 (3) 179 65.5 54.7 1.2 56.2 64.4 50.0 47.3 41.2 13.6% 0.73 0 1.20 39.2 46.3 52.6 0.61 112 29.2 32.7 35.4 0.32 0.36 192 0.0 2010 2011 2012 2013 2014 2015 Domestic Routes International Routes UK USA Turkey EU-27 Russia 59 Notes: (1) Total local and foreign carriers’ traffic (2) Airline PAX per capita per year, as of 2015 x.xx Domestic PAX per capita 100 Sources: FAAT, Aeroflot estimates (3) 2025E 135 Railways facing increasing competition… … from airlines on domestic routes 0 176 RZD long-haul rail traffic (mn PAX) Long-distance rail Domestic air traffic (mn PAX) But domestic 80 routes posted first 13.6% airlines continue (4.0)% 1.5% 17.9% (5.0)% low single digit to outperform (7.1)% traffic increase in 4 10.8% 52.6 rail sector. 22 (4.8)% years in row. 8.1% 46.3 44 114.8 116.5 110.7 12.0% 102.8 39.2 66 97.9 35.4 32.7 13.5% 7.7% (6.2)% 2.0% 24.7 1 22.9 40 44.2 45.1 120 0 2011 2012 2013 2014 2015 6M 2015 6M 2016 2011 2012 2013 2014 2015 6M 2015 6M2016 Message text 128 0 Growth in the number of domestic air passengers was supported by huge decline of Russian Railways’ long-distance traffic (mostly domestic) in the recent years as air transportation becomes more affordable 255 • Russian market is well positioned for long-term growth on the back of still low penetration, additional potential from Highlight 0 0 ongoing structural changes and increasing propensity to travel by air as well as advantageous geographical location. 5 Table line colour 178 178 *In the charts, tables and text of this presentation, immaterial deviations in calculation of % change, subtotals and totals are due to rounding 178 Aeroflot Group vs Air Transportation Market: 6M 2016 232 Chart Colours 235 240 Passenger Traffic: Market vs Aeroflot Group Change in Airlines’ Passenger Numbers Russian Air Transportation Market (PAX) International Routes mn PAX, 6M 2016 Increase/decrease in PAX million 182 Domestic Routes 196 (4.1%) 204 (8.5%) +1.8 111.8 107.2 135 48.2 19.7 44.1 157 (0.1) 179 (16.6)% +1.1 (0.9) 65.5 54.7 (23.1)% 25.3 19.5 (0.6) +0.4 7.1 0 13.6% 5.8 6.1 112 7.7% 2.8 2.7 52.6 24.7 192 46.3 22.9 2014 2015 6M 2015 6M 2016 Aeroflot S7 Group UTair Group Ural Airlines Foreign Others 59 Group Carriers 100 Aeroflot Group (PAX) Source: TCH, Rosaviatsia, Company estimates 135 13.4% 10.3% Increasing Market Share1 (PAX) 0 39.4 176 34.7 19.7 6M 2015 6M 2016 80 17.9 (6.2)% 16.0 7.1% 14.9% 16.1% 8.1 17.1 7.6 22 37.0% +7.6 p.p. 32.5% 12.7% 14.6% 13.8% 44.6% 44 23.4 66 17.6 10.3 11.6 4.7% 6.0% 7.2% 6.4% 6M 2015 6M 2016 12.0% 1 2014 2015 9.7% 13.1% 40 120 Market Dynamics Net of Aeroflot (12.0)% Total Market (19.5)% 0 (20.2)% International (35.9)% Message text 128 0 2.0% Domestic 3.6% Foreign Airlines Source: TCH, Company estimates Other Russian Airlines 255 Note: Incl. foreign carriers’ traffic. Highlight 0 0 • Aeroflot Group succeeded to convert market instability and competitors’ weakness into an advantage and continued outperforming Russian market in 6M 2016 growing PAX by 10.3% with acceleration on both domestic and international routes. 6 Table line colour 178 178 178 Capacity Optimization by Russian and Foreign Airlines 232 Chart Colours 235 1 240 Russian Carriers Capacity Dynamics (ASK) Domestic & Intl. Capacity Optimization (Russian Carriers) Change, y-o-y 6M 2016 vs. 6M 2015, billion ASK 182 13.6% 9.3% 8.3% 8.2% Jan Feb Mar Apr May Jun 6M 196 7.6% 5.5% 6.0% 204 0.6 (4.9)% 0.1 (10.6)% 135 (12.3)% (13.5)% (14.5)% (12.1)% (11.6)% (0.1) (0.1) 157 (0.4) (22.3)% (0.5) (0.7)% 179 (26.9)% (1.4) (23.8)% (0.4) 0 (27.5)% (27.2)% (2.0) (2.0) 112 (31.4)% (31.1)% (20.4)% 192 (3.0) Jan Feb Mar Apr May Jun 6M 2016 (3.3) (3.6) Domestic International (x.x)% (15.3) 59 Aeroflot Group Russian Carriers Russian Carriers excl.
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