International Airlines Group Investor Presentation — May 2018

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IAG results presentation

4thMay 2018Highlights

Willie Walsh, Chief Executive Officer3Highlights

•Another strong quarter performance withanoperating profit of€280m(5.6%margin, +2.3pts)vs.€160mlastyear

•Better operating result atalloperating companies compared toayear ago

•Continuation ofpositive trends inunitpassenger revenue atconstant currency, withevery region showing anincrease

•Non-fuelunitcosts reduced, inlinewithourtarget tolower non-fuelunitcost by5%by2022

•Further increases inRoIC forIAG(16.7%,+0.7pts)andevery operating company, partly assisted bythetiming ofEaster

•2018fullyear guidance remains unchanged :

“Atcurrent fuelprices andexchange rates, IAGstillexpects itsoperating profit for2018 toshow anincrease year-on-year.Both passenger unit

revenue andnon-fuelunitcosts areexpected toimprove atconstant currency”

•Anew flexible defined contribution pension scheme hasnow replaced BA’s defined benefit scheme (NAPS)

•IAGintends toreturn €500mtoshareholders viashare buybacks in2018

•On12April 2018 ,IAGannounced thatithadacquired a4.61percent ownership position (minority investment) inNorwegian AirShuttle

ASA (Norwegian) .The minority investment was intended toestablish aposition from which toinitiate discussions with Norwegian,

including thepossibility ofafulloffer forNorwegian .IAGconfirms thatithashadcontact with theNorwegian Board regarding apossible

offer, without reaching anagreement .IAGiscurrently considering itsoptions inrelation toNorwegian .Financial results

Enrique Dupuy, Chief Financial Officer5Another strong quarter performance with operating profit up significantly