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Investing In, Operating, Leasing and Trading Airbus Aircraft Safe Harbour Statement

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Investing In, Operating, Leasing and Trading Airbus Aircraft Safe Harbour Statement Seoul, 20th March 2019 François Collet Vice President Structured Finance Bertrand Guedez Structured Finance Manager Investing in, operating, leasing and trading Airbus aircraft Safe Harbour Statement Disclaimer In addition to historical information, this presentation can include forward-looking statements. Words such as “anticipates”, “believes”, “estimates”, “expects”, “intends”, “plans”, “projects”, “may” and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include statements made about strategy, ramp-up and delivery schedules, introduction of new products and services and market expectations, as well as statements regarding future performance and outlook. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include but are not limited to: Changes in general economic, political or market conditions, including the cyclical nature of some of Airbus’ businesses; Significant disruptions in air travel (including as a result of terrorist attacks); Currency exchange rate fluctuations, in particular between the Euro and the U.S. dollar; The successful execution of internal performance plans, including cost reduction and productivity efforts; Product performance risks, as well as programme development and management risks; Customer, supplier and subcontractor performance or contract negotiations, including financing issues; Competition and consolidation in the aerospace and defense industry; Significant collective bargaining labour disputes; The outcome of political and legal processes including the availability of government financing for certain programmes and the size of defense and space procurement budgets; Research and development costs in connection with new products; Legal, financial and governmental risks related to international transactions; Legal and investigatory proceedings and other economic, political and technological risks and uncertainties. As a result, Airbus SE’s actual results may differ materially from the plans, goals and expectations set forth in such forward-looking statements. For a discussion of factors that could cause future results to differ from such forward-looking statements, see the most recent Airbus SE Registration Document, including the Risk Factors section. Any forward-looking statement contained in this presentation speaks as of the date it is made. Airbus SE undertakes no obligation to publicly revise or update any forward-looking statements in light of new information, future events or otherwise. Rounding Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 2 Manufacturer Support & Sell Down Aviation Market & Financing Trends Product Update 3 Airbus Financing & Guarantees Team: Our Role Airbus Customers Harald Wilhelm Chief Financial Officer Jean-Baptiste Pons Aircraft Financiers Head of Integrated Treasury Financing & Guarantees Team Leveraging on market knowledge and relationships in order to connect financiers and customers 4 Investors reach out to bring new liquidity into Aviation Contribution Investment Savings Return Premium Pension Investment Return Fixed Income Coverage Insurance Sovereign Asset Pension Hedge product Companies Funds Managers Funds Funds Consumer Base Airlines Demand for Airline air travel revenue Demand for Air Travel 5 Junior Debt Fund - Tamweel Aviation Finance (TAF) Airbus . TAF I - From 2012 to 2018 (fund closed) support to aircraft financing . TAF II - From 2018 Continued innovation to best support . More investors expected Airbus customers in to join TAF II as Limited Partners. aircraft financing . Lots of interest from Asia. Captive Bank – Providing independent financing solutions to the aviation industry 2014 - 2018 4 years of operations Teaming up with banks, lessors and institutional investors BANK to support aircraft financing for our customers; 6 Airbus Balthazar: Private Insurance Cover support to aircraft • Coverage: Aircraft Finance Non Payment Insurance • Insured: Aircraft Funders (e.g. Debt, Private Placement) financing Airbus • Risk: Airline default • Level of risk insured: 100% of loan exposure Private Insurance Law Airline • Term: up to 12 years fully amortising Cover for Aviation Firms Backed Finance • Advance rate: Up to 85% LTV, similar advance rates to BALTHAZAR ECA financing • Transaction Structure: Benchmark to standard SPC Broker Financiers loan/finance lease structure & documentation as per LMA standard Asset • All-in cost: insurance premium + bank margin + fees Manager • Validity: Ability to offer indicative coverage up to 18 months before delivery 7 Export Credit Agency (ECA) Financing Overview • An Export Credit Agency (ECA), is a private or quasi-governmental institution that act as an intermediary between national governments and exporters to issue export financing ECA • The primary role of the ECAs is to support exports on behalf of governments: Financing ECAs support exports on behalf of governments Europe: Guarantees against airline credit risk • All ECAs are governed by the same rules: Aircraft Sector Understanding (ASU) 6 Airbus aircraft supported by the ECAs in 2018 Canada: Direct lending to airlines 8 Applying to ECA financing: new process and timeline Applying to ECA Customer request for ECA financing Delivery financing ECA financing 12 months at least introduction Airbus Airbus At least, 12 months ECA Documentation pre-application Closing Internal Compliance assessment (airline, bank, ECAs) before the first process process delivery Airbus ECA application commitment Airbus facilitates the coordination with ECA government bodies Assist in the interface with banking community 9 Manufacturer Support & Sell Down Aviation Market & Financing Trends Product Update 10 Airbus Airbus GMF: Traffic forecast Global Asian Financial 25.0 Oil Gulf Crisis 9/11 SARS Crisis Market Crisis Crisis Airbus GMF 2018: 4.4% growth p.a. Forecast 20.0 x2 Traffic has proven 15.0 to be resilient to external shocks and doubles every 10.0 x2 15 years 5.0 x2 0.0 1977 1982 1987 1992 1997 2002 2007 2012 2017 2022 2027 2032 2037 Source: ICAO, Airbus GMF 2018 11 Review and outlook of industry key drivers Industry GDP and RPK growth Fuel price review and 10.0% 150.0 124.5 y-o-y % 7.5% 8.0% 114.8 8.0% 6.9% 6.5% 120.0 5.8% 6.3% 6.0% 87.6 outlook RPK 81.3 6.0% 90.0 66.7 66.7 3.2% 3.2% 3.1% 52.1 4.0% 2.5% 2.7% 2.7% 2.5% 60.0 2.0% GDP 30.0 USD / barrel 2019 figures: 0.0% 0.0 (forecast) 6% traffic growth Passenger load factor Airline net result 82.1% load factor 85.0% 50.0 USD bn. 40.0 81.9% 82.1% 30.0 37.7 81.5% 36.0 34.2 35.5 ~ 81.3 $/b. fuel price 80.0% 32.3 80.4% 80.5% 79.9% 79.8% 20.0 10.0 10.7 13.8 Source: 75.0% 0.0 IATA 2013 2014 2015 2016 2017 2018 2019 Airline Industry Economic Performance estimate forecast December 2018 update 12 Evolution of airline net results and margins since 2004 EBIT margin Net result (%) (USD bn.) Airline 10.0 40.0 Net Profit (USD bn.) 37.7 profitability 8.0 34.2 35.5 % Margin 36.0 30.0 32.3 6.0 20.0 4.0 Airline profitability 17.3 14.7 13.8 10.0 consolidating in 2.0 10.7 8.3 9.2 5.0 positive territory - 0.0 -5.6 -4.1 -4.6 -2.0 -10.0 -4.0 -20.0 -6.0 -26.1 -8.0 -30.0 -10.0 -40.0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Source: IATA Airline Industry Economic Performance December 2018 update estimate forecast 13 20-year demand for 37,400 new aircraft worth 5.8 trillion 2018-2037 new deliveries ≤ 230 Seats S 28,550 (76%) S $3.2 tn (54%) ≤ 300 Seats M 5,480 (15%) M $1.4 tn (25%) ≤ 350 Seats L 1,760 (5%) L $0.6 tn (10%) ≥ 350 Seats XL 1,590 (4%) XL $0.6 tn (11%) 37,400 $5.8 trillion aircraft units aircraft value 14 Notes: Passenger aircraft (≥ 100 seats) | Jet freight aircraft (>10 tons) Source: Airbus GMF 2018 Asia-Pacific lead in world traffic will increase further by 2037 RPK traffic by airline domicile (trillions) % of 2017 20-year % of 2037 world RPK growth world RPK Asia/Pacific 2017 traffic 2018-2037 additional traffic 30.9% 5.6% 38.5% Europe 26.6% 3.4% 22.1% North America 21.8% 2.5% 15.2% Middle East 9.1% 6.0% 12.3% Latin America 20-year world annual 5.2% 4.6% 5.4% CIS traffic growth 4.4% 3.8% 4.0% 3.5% Africa 0 2 4 6 8 2.6% 5.1% 3.0% Trillions 15 Airbus Airbus GMF – Fleet forecast: Global Demand for new passenger aircraft per region Market Forecast M, L, XL North America 20-year demand S 5,070 Europe & CIS M, L, XL 900 for more than S 6,510 S Total 5,970 M, L, XL 1,780 36,000 new Total 8,290 passenger aircraft Asia – Pacific S 12,490 M, L, XL 3,150 Total 15,640 Note: Latin America Africa & M.E. Passenger aircraft (≥100 seats) S 2,430 S 2,060 Rounded figures to the nearest 10 M, L, XL 280 M, L, XL 1,900 Circle diameter proportional to Total 2,710 Total 3,960 43% % share on total demand Total Source: 2018 – 2037 demand for Airbus GMF 2018 new passenger aircraft S 28,550 M, L, XL 8,010 16 Total 36,560 Airbus and Boeing share on net orders since 1995 Industry 100 market share 75 Stable duopoly 50 No over production Two families of standard products 25 0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 17 Airbus and Boeing order backlog Industry backlog A220 476 A320ceo / neo 5,962 B737NG / MAX 4,668 Combined backlog of over 13,000 A330ceo / neo 293 767/787 712 aircraft A350 XWB 603 777 423 A380 56 747-8 23 Total 7,390 Total 5,826 Note: Data to end of February 2019 18 Breakdown of 2018 FY deliveries by source of financing Airbus EDC & ECA Airlines deliveries financing Airline Debt 1% Airline Cash 13% Cash & 100% commercial Capital Markets Lessors 35% of deliveries through commercial financing Lessor Cash 800 23% 100% 62% Aircraft 62% of deliveries Lessor Debt financed by Lessors 3% 1% Lessor SLB Note: 24% Share in number of aircraft Data to end of December 2018 ECA Airline Source: Airbus 19 Top 15 lessors by commercial aircraft fleet size, 2008 vs.
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