STAR Alliance Ambassador Club Switzerland

Welcome to Athens! November 30, 2018

1 Aegean at a glance – Full Service carrier delivering quality excellence

+80% ASKs growth 2012- 2017

13.2 million 49 Jet Aircraft passengers 12 Turboprops

153 destinations Athens hub + 6 122 international other A/C bases 31 domestic Skytrax

• Fleet & network as of 2018 Award winning 2 19 Year History with Long Term Growth…..despite Adversity

2017 • Service & Personnel Quality Main Advantage 8th time awarded by Skytrax 13.2 2011 12.5 International 2003 traffic 2013 11.6 First Year with Olympic Air 2007 exceeds Profits before domestic for Acquired Taxes Listing in Stock the fist time 10.1 2001 2003 Merger with 2005 Exchange, Low Cost Carriers Lufthansa First A320 Cronus, First enter Greek 2010 Intl Flights Agreement, Deliveries 8.8 Market Airbus A320 Aegean joins 1999/2000 Order Star Alliance Air Greece 2002–2003 Olympic acquisition Olympic and Aegean sole competitors 6.6 6.5 6.2 6.0 6.1 May 1999 Domestic 5.2 International Deregulation. Launch of 4.5 4.0 Scheduled Flights 3.6 2.8 2.5 2.4 1.5 Domestic 0.3

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

3 Transforming to adjust to crisis

• Seek consolidation & growing strongly 2010 – pre 2006 – pre 2017 IPO crisis

A/C • 21 • 31 • 58

Revenue • €370m • €516m €1,128m

EBITDAR • 70m • 75.8m • 257m

Passengers • 4.5m • 6.2m • 13.2m

Total destinations • 31 • 41 • 143

4 Aegean Reacts to Opportunity ……Athens international network rapid expansion 2013: 40 Destinations 2018: 109 Destinations from Athens from Athens

17 Countries 41 Countries

80 International 27 International 17 Destinations17 Destinations40 Greek Crisis

Greece GDP 2007-2016 GDP change 400 -39% 10.0% 350 3.3% Billions 5.0% 300 0.7% -0.2% USD -0.3% -1.1% 250 -3.2% 0.0% -4.3% 200 -5.5% -7.3% -5.0% 150 -9.1% 100 -10.0% 50 0 -15.0% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

GDP GDP change

Aegean Profit

120 14%

100 12% 12% 10% 10% 10% 10% 80 9% 8% 8% 60 7% Millions 6% 6% 5% EUR 40 4%

20 2% 0% 0 -2% -2% -20 -4% -4% -5% -40 -6% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Targeted and collective efforts to promote Greece

7 Promoting Greece through campaign

 We have teamed up with the famous Greek NBA star Giannis Antetokounmpo  We have invited locals to share their inside knowledge to help make trips to Greece even more amazing!  Gathered more than 10,000 tips available on our website

8 Developing Hub flows / Athens competitive advantage

2008-2017 => 5x Connecting Flows through Athens  Aegean connecting In ,000 passengers grow 5x

3'500 Indicative Network Flows 3'000

2'500 Warsaw, 5X NORTH WEST Budapest, Kiev, Moscow, 2'000 Prague, Stockholm, St. Petersburg, Sofia, NORTH EAST Helsinki, Bucharest,Tirana, Belgrade, 1'500 Tallinn, Dubrovnik, Vienna,Copenhagen, Split 1'000 Krakow 500 Brussels, Düsseldorf, Hamburg, Frankfurt, Munich, Stuttgart, Berlin, 0 Hannover, London, Manchester, Birmingham, Tbilisi,Istanbul, Izmir, Tehran, Geneva, Zurich, Paris, Nantes, Amsterdam, Dublin, 2008 2010 2013 2014 2015 2016 2017 Yerevan Lille, Luxembourg, Edinburgh WEST Toulouse, Bordeaux, Marseille, Madrid, Barcelona, Milan, Lyon, Rome, EAST Venice, Lisbon, Majorca, Naples, Nice A3 connex share at total AIA Toulouse, Bordeaux, Marseille, Madrid, Barcelona, Milan, Amman, Beirut, Tel Aviv, Larnaca, transfer pax 93% 93% Lyon, Rome, Venice, Lisbon, Riyadh, Jeddah, Kuwait 100% 88% 91% Naples, Nice, Pisa 85% 85% 80%

Catania, Malta, 60% Cairo, Alexandria Bari 40% SOUTH EAST SOUTH WEST 20%

0% 2012 2013 2014 2015 2016 2017

9 Aegean 2018 Initiatives

• New ancillary initiatives • Continue Strengthening Athens Hub Share – Capitalize on hub / network advantage – Continue to build Destination Portfolio – Improve Utilization, Partially address Seasonality • Fleet Renewal Decision for 2020-2025 re-fleeting process – Lease Expiration Schedule Forward Allows for multiple options – Timing for Tender Appears Positive as few Major campaigns in play – Lessors have ample new (possible excess) A320 & 737 MAX capacity to place

10 5 YEAR Objective => more than 15m passengers

2017 2023

58 Fleet 75

101 130 Destinations Served 30 Domestic 30 Domestic from Athens 71 International 100 international Overall International 145 Destinations Served 175

7 A/C Bases 7

13 m Passengers 15m+ 7m international 10m+ International

11 Strong cash flow generation

1 Cashflow 1H18 (EUR m) 37 In EUR m 36 180 5 2

308 16 396

Cash & financial operating Total changes in Interest & tax Capex OA acquisition Dividend Finance leases FX diff Cash & financial investments the cashflow before working capital investments at the beginning of the working capital Δ end of the period year

Cashflow 1H17 (EUR m) 6 2 29 5 143 8

253 9 337

Cash & financial operating Total changes in Interest & tax Capex OA acquisition Dividend Finance leases FX diff Cash & financial investments the cashflow before working capital investments at the beginning of the working capital Δ end of the period year

12 Thank you!