International Airlines Group Investor Presentation — October 2020

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IAG results presentation

30 October 2020Highlights

Luis Gallego, Chief Executive Officer3A quarter of significant structural change

•Successful Capital Increase provides IAG with the operational and strategic flexibility to take advantage of a recovery in de mand for air travel, reduces

balance sheet leverage and enhances liquidity to help withstand a more prolonged downturn in air travel demand

•Gross proceeds of €2.741bn

•92.75% of subscription rights taken up by shareholders and offer of new shares over -subscribed by 211.53 %

•Fully supported and subscribed to by Qatar Airways, IAG’s largest shareholder (25.1%)

•Initial restructuring set to further improve IAG’s competitive cost advantage in terms of unit cost and cost flexibility

•British Airways –annual employee cost savings of c.30% as a result of restructuring, more competitive employee contracts and enhanced flexibility to vary total cost with capacity

•Aer Lingus –c.50% annual employee cost benefit from company actions, the Irish Government wage subsidy schemes and headcount reduction

•Iberia –over 35% annual employee cost benefit from the Spanish Government ERTE furlough scheme and compan yactions

•Vueling –over 35% annual employee cost benefit from the Spanish Government ERTE furlough scheme and local furlough schemes in F rance and Italy and company actions

•Management succession from internal talent pool

•New CEOs at IAG, British Airways, Iberia and Vueling, and interim for Aer Lingus appointed in September/October

•Appointment of Chief Transformation Officer on the Group’s Management Committee

•Pre-exceptional operating loss of -€1.3bn compared to a profit of €1.425bn last year