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Investor day

18 September 2014

2

Agenda

Time Agenda item Led by Page

14.00 Proven strategy, execution and returns Carolyn McCall 3

14.15 A. Future profitable growth

Future growth opportunities

Bringing it all together - France

Panel Q&A

Cath Lynn

Francois Bacchetta

12 27

14.45 B. Industry leading return on capital employed and margins through revenue and cost initiatives

Revenue initiatives

How we sell

Business travel

Panel Q&A

Peter Duffy

Anthony Drury

38
49

15:30 Break

15:45 Cost initiatives

Why low cost?

Cost opportunities

Disruption management

Engineering & Maintenance

Innovation driving cost reduction

Panel Q&A

Chris Kennedy

Warwick Brady

Will Facey

Gary Smith

Ian Davies

60
63
76
80
89

16.45 C. Cash returns for shareholders

16.45 Capital discipline and returns

Q&A

Chris Kennedy 97

17.10 Wrap up and close Carolyn McCall

17:15 Stalls covering Regulation, Revenue

Management and Digital

Chris Gadsden, Jennifer Genevieve, Alberto Villaverde,

James Millett

Proven strategy,

execution and returns

Carolyn McCall

Chief Executive Officer

4

Continuing to deliver

Proven strategy, execution and returns

easyJet has built the industry leading business model in European short-haul aviation ƒTeam, processes and culture will ensure continued successful execution easyJet will continue to deliver

A.Future profitable growth

B.Industry leading return on capital employed and margins through revenue and cost initiatives

C.Cash returns for shareholders

1 2 3 5

Proven strategy and execution

Platform to deliver growth & sustain leading returns

2010 - 2014

Passengers grew by 12

million1

Profitably increased

number of routes from c.500 to c.700

Opened 5 new bases

including Nice and

Toulouse

Continued to

strengthen key bases

Flybe slots at

Gatwick

Compelling

network

Cost advantage

easyJet lean delivered c.£170m of sustainable savings

OTP improved from

66% in 2010 to 87% in

2013

Capital

discipline

Rigorous focus on

return on capital introduced

Madrid base closure

Regular dividend

introduced and increased to 3x cover

Total cash returns to

shareholders of £589 million

Culture &

people

Strengthened team,

succession planning and developed pipeline of talent

Staff turnover

declined from 7.6% in

2010 to 6.5% in 2013

Over 90% of easyJet

people are now shareholders

Customer &

product

Introduced the

Customer Charter

europe by easyJet & generation easyJet

Enhanced product

Allocated seating

Business

passenger

Digital

Load factor increased

from 87% to 89%1

Customer satisfaction

increased from 73% in

2010 to 83% in 2013

1.30 September 2010 to 30 September 2013

6

201120122013

easyJet has delivered on key financial metrics

£53.07

£62.58

£45

£50

£55

£60

£65

20102013

Revenue per seat

PBT Margin

Profit per seat

ROCE

Dividends

Special dividend (million) Ordinary dividend (million) 5.2% 11.2% 0% 5% 10% 15%

20102013

£196m

£85m

£308m

£2.75

£7.03

£0 £2 £4 £6 £8

20102013

6.9% 17.4% 0% 5% 10% 15% 20%

20102013

Data relates to easyJet Financial Years ended 30 September 2010 and 30 September 2013 7

Industry and market leading returns

2010±2013 Total shareholder return1

2013 FTSE 100 ROCE performance2

37.2%

BskyBShire

Intercontinental

NEXTCroda

ITVBAT

Petrofac

Reckitt Benckiser

Antofagasta

GSKARM

Fresnillo

Astrazeneca

Sage

Smith & Nephew

IMI

Experian

Rolls Royce

IntertekDiageo

Tate & Lyle

SmithsAMEC

William Hill

BT

Johnson MattheyImperial Tobacco

BHP BillitonSports Direct

Randgold Resources

WeirBunzl

Persimmon

BG

Wolseley

Royal Dutch Shell

BAESSEABFCapitaGKN

BabcockWhitbread

MondiWPP

Morrisons

Rexam

Marks & Spencer

MeggittRio Tinto

G4S

National Grid

SABmillerKingfisher

Tesco

Sainsbury

Severn Trent

Anglo AmericanCoca-Cola HBC

TUI Travel

Travis Perkins

Tullow Oil

BP

United Utilities

IAG

PearsonMelrose

Vedanta Resources

CarnivalVodafone

British Land

Land Securities

CRH

Glencore Xstrata

HammersonReed Elsevier

1st Quartile

37.2% -16.1%

2nd Quartile

16.1% -11.8%

3rd Quartile

11.5% -7.3%4th Quartile

7.2% -2.8%

Source: Capital IQ and Datastream.

Note: Excludes financial institutions and insurance companies

(1) Source: Datastream. Total shareholder return for the period 1 October 2010 to 30 September 2013. Assumes dividends are reinvested.

(2) Source: Capital IQ, public filings. Represents ROCE for the LTM to Sep-2013. ROCE calculated as: LTM EBIT plus of 1/3 operating lease expense taxed at nominal tax rate divided by average capital employed

(defined as financial net debt plus shareholders equity (including balance sheet value of minority interests) plus net pension deficit) adjusted for operating leases (capitalised at 7.0x).

2013 Return on Capital Employed2

17.4% 15.7%

9.3%8.0%7.4%6.6%5.3%5.3%

0.8% easyJetRyanairDelta

NorwegianSouthwestLufthansa

JetBlue

IAG

AF-KLM

261%
134%

97%76%

39%

14%13%0%

(35)% easyJet

Norwegian

DeltaRyanair

IAG

SouthwestLufthansa

JetBlueAF-KLM

8

48 23 39 24 24 21 18 17 15 14 3

1

20 1

- - 2 - - - - 10 20 30
40
50

60Non primary airports

Number of market pairs operated

between 2 primary airports Business model and brand to succeed in a dynamic environment

Pan-European

Strong and improving affinity and

recognition scores

Engaging communication

Easy and affordable

Brand and customer proposition

Cost advantage Valuable markets

Financial strength

easyJet 21.5%

Ryanair

15.6%

Norwegian

3.1% IAG 8.3%

Lufthansa

11.6%

Air France

2.5% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0%
30.0%

Adj. ROCE

1

Adj. Gearing 1

Strong balance sheet

- Data based on 12 month period ending 31 March 2014 - Includes capitalised leases capitalised at 7.0x - Bubble represents size of EBIT 8.0 2.0 4.0 6.0 0.0

500 250 0

0.99 1.65 2.14 2.94 3.11 4.60 5.60

Airport; ground handling,

navigation and en-route charges Seats (m)

CASK( p)

Cost - Source: Airline Analysts; OAG, Pie chart FY 2014 easyJet airport pairs - Data based on 12 month period ending 31 March 2014 - CASK converted using opening period fx rates easyJet

Air France

Alitalia

British Airways

KLM TAP

Thomson

Other

60 other

airlines hold a lower than

2.5% share

9 Team, processes and culture in place for continued execution

ƒCustomer is in our DNA

ƒEngaged team working to deliver

our cause

ƒStrong focus on ensuring easyJet

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