11/11/2024 - Deutsche Lufthansa AG: Management Presentation on the Results (241029 Q3 24 Results Presentation Website)

Q3 2024 Results

Carsten Spohr, CEO

Till Streichert, CFO

Frankfurt, 29 October 2024

Q3 2024 Results

Carsten Spohr, CEO

Review Q3

Frankfurt, 29 October 2024

Disclaimer

IMPORTANT: The following applies to this document and the oral presentation of the information in this document by Deutsche Lufthansa Aktiengesellschaft (the "Company", and together with its consolidated subsidiaries, the "Group") or any person on behalf of the Company, any question-and-answer session that follows the oral presentation, if any, hard copies of the slides as well as any additional materials distributed at, or in connection with this presentation (collectively, the "Presentation").

THIS PRESENTATION AND ITS CONTENTS, IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL. BY REVIEWING THIS PRESENTATION, YOU AGREE TO BE BOUND BY THE LIMITATIONS SET OUT IN THIS PRESENTATION. ANY FAILURE TO COMPLY WITH THE LIMITATIONS SET OUT IN THIS DOCUMENT MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS. THIS PRESENTATION AND ITS CONTENTS, IS DELIVERED TO YOU ON THE BASIS OF YOUR COMPLIANCE WITH THE LEGAL AND REGULATORY OBLIGATIONS TO WHICH YOU ARE SUBJECT.

This Presentation has been prepared by the Company for informational and discussion purposes and must not be relied upon for any purpose. This disclaimer shall apply in all respects to the entire Presentation, the oral presentation of the slides by representatives of the Company (or any person on behalf of the Company), any question-and-answer session that follows the oral presentation, if any, hard copies of the slides as well as any additional materials distributed at, or in connection with this presentation. By attending a meeting (or conference call or video conference) at which this Presentation is made, or by reading the written materials included in this Presentation, you (i) acknowledge and agree to all of the following restrictions and undertakings, and (ii) acknowledge and confirm that you understand the legal and regulatory sanctions attached to the misuse, disclosure or improper circulation of this Presentation. This Presentation may not be reproduced, redistributed or disclosed in any way in whole or in part to any other person without the prior written consent of the Company. Without limitation, copies of this document may not be sent to countries, or distributed in or sent from countries, in which this is barred or prohibited by law. If you have received this document and you are not an interested party or are not otherwise permitted by law to receive it, you must return it immediately to the Company.

None of the Company, the Group, their affiliates or any of their respective directors, officers, employees, agents, shareholders, advisors or any other person (i) may notify you of changes nor is under an obligation to update or keep current the Information or to provide the recipient thereof with access to any additional information that may arise in connection with it, save for the making of such disclosures as are required by law or regulation and (ii) shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this Presentation or its contents or otherwise arising in connection with this Presentation. No representation, warranty or undertaking, express or implied, is given by the Company, the Group, their affiliates or any of their respective directors, officers, employees, agents, shareholders, advisors or any other person as to, and no reliance should be placed on, the completeness, accuracy or fairness of the information or opinions contained in the Information and no responsibility, obligation or liability whatsoever is accepted or will be accepted by the Company, the Group, their affiliates or any of their respective directors, officers, employees, agents, shareholders, advisors or any other person for any loss arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connection therewith. The information and opinions contained in this Presentation do not purport to be comprehensive and to contain all information required to evaluate the Company and/or its financial position, are provided as at the date of the document and are subject to amendment, revision, verification, correction, completion and updating in its entirety without notice and such information may change materially. The Company is not under any obligation to update or keep current the information contained in this Presentation.

No reliance may be placed for any purpose whatsoever on this Presentation or on its completeness, accuracy or fairness. Neither the Information nor any other document or information (or any part thereof) delivered or supplied under or in relation to the securities is intended to provide the basis of any credit or other evaluation and should not be considered as a recommendation by the Company or the Group that any viewer of, or any person accessing, the Information or any such other document or information (or such part thereof) should subscribe for or purchase any securities of the Company.

No person is authorized to give any information or to make any representation not contained in and not consistent with the final prospectus relating to any securities of the Company and, if given or made, such information or representation must not be relied upon as having been authorized by or on behalf of the Company or the Group. None of the Information, any future issue of the securities nor any subscription for, purchase or sale of securities made in connection therewith shall under any circumstances create any implication that there has been no change in the information contained herein since the date hereof or that there has been no change in the business or financial position of the Company or its subsidiaries since the date hereof.

Page 3

Disclaimer

This Presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue, or the solicitation of an offer to purchase, subscribe to or acquire, securities of the Company, its affiliates or an inducement to enter into investment activity in the United States of America or any other country or to any person to whom or in which such offer or solicitation is unlawful. Securities of the Company, including the securities referred to herein, have not been and will not be registered under the U.S. Securities Act of 1933, as amended, (the "Securities Act"). The Company's securities may not be offered or sold in the United States of America absent registration under the Securities Act or another exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will be no public offer of the Company's securities in the United States of America. The Information is for information purposes only and does not constitute an offering document or an offer of securities to the public in the United Kingdom to which section 85 of the Financial Services and Markets Act 2000 of the United Kingdom (as amended by the Financial Services Act 2012 of the United Kingdom) ("FSMA") applies. It is not intended to provide the basis for any evaluation of any securities and should not be considered as a recommendation that any person should subscribe for or purchase any securities. The information in this presentation is given in confidence and the recipients of this presentation should not base any behavior in relation to qualifying investments or relevant products, as defined in the Financial Services Markets Act 2000, or FSMA, and the Code of Market Conduct, made pursuant to the FSMA, which would amount to market abuse for the purposes of the FSMA on the information in this presentation until after the information has been made generally available. Nor should the recipient use the Information in any way that would constitute "market abuse". Certain industry, market and competitive position data contained in this Presentation, if any, come from official or third party sources. Third party industry publications, studies and surveys generally state that the data contained therein has been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. While the Company believes that each of these publications, studies and surveys has been prepared by a reputable source, the Company has not independently verified the data contained therein, and the Company assumes no responsibility whatsoever in respect of the accuracy and completeness of any such data. In addition, certain industry, market and competitive position data contained in this Presentation come from the Company's own internal research and certain estimates are based on the knowledge and experience of the Company's management in the market in which the Company operates. While the Company believes that such research and estimates are reasonable and reliable, they, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change without notice. The Company, therefore, also assumes no responsibility whatsoever in respect of the accuracy and completeness of any such research and estimates. Accordingly, no reliance should be placed on any of the industry, market or competitive position data contained in this Presentation.

The Information is not all-inclusive nor does it contain all information that may be desirable or required in order to properly evaluate the Group (or any members thereof) or a related investment decision. No part of the Information should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. You are solely responsible for forming your own opinions and conclusions on the Information and the market and for making your own independent assessment of the Information. You are also solely responsible for seeking independent professional advice in relation to the Information and any action taken on the basis of the Information. Statements in the Information and Presentation, including those regarding the possible or assumed future or other performance of the Company and its affiliates or its industry or other trend projections, constitute forward-looking statements. These statements reflect the Company's current knowledge and expectations and projections about future events and may be identified by the context of such statements or words such as "anticipate", "believe", "could", "expect", "intend", "may", "project", "should", "will", "would", "target" or similar terminology. Actual results, performance, or events may differ materially from those in such statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of the Company. Such factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward-looking statements. Accordingly, no assurance is given that such forward-looking statements will prove to have been correct. They speak only as at the date of this Presentation and the Company and Group undertake no obligation to update these forward-looking statements.

Financial information of the Company or the Group as of and for the six-month period ended June 30, 2024 included in this Presentation is unaudited. The addition of the totals presented may result in rounding differences. In addition to figures prepared in accordance with International Financial Reporting Standards as adopted by the European Union ("IFRS"), this Presentation also includes certain non-GAAP financial performance measures. These non-GAAP measures have been included because we believe that investors may find them helpful to measure our performance as reported under the relevant IFRS measures. However, these non-GAAP measures should be considered only in addition to, but not in isolation or as a substitute for, the information prepared in accordance with IFRS. Non-GAAP financial performance measures are not subject to IFRS or any other generally accepted accounting principles, and other companies that report similarly named non-GAAP measures may define or calculate these financial performance measures in different ways. The Information contains certain supplemental measures of operating and financial performance that are not calculated in accordance with IFRS or the German Commercial Code (Handelsgesetzbuch) and German generally accepted accounting principles, and are therefore considered non-IFRS measures. The Group believes that such non-IFRS measures, when considered in conjunction with (but not in lieu of) other measures that are computed in accordance with IFRS, may enhance the understanding of its financial performance by excluding items that are not classified as part of its ongoing operations. However, non-IFRS measures have important limitations as analytical tools and should not be considered in isolation, or as substitutes for, the analysis of the Group's results of operations, financial position, and cash flows as reported under IFRS. The non-IFRS measures used by the Group may also differ from, and not be comparable to, similarly titled measures used by other companies.

The Information is not, and should not be construed as, a prospectus, is not intended for potential investors and does not constitute or form part of, and should not be construed as an offer or the solicitation of an offer to subscribe for or purchase securities of the Company, and nothing contained therein shall form the basis of or be relied on in connection with any contract or commitment whatsoever, in particular, it must not be used in making any investment decision. In member states of the European Economic Area ("EEA") and the United Kingdom, the Information is only addressed to and directed at persons who are qualified investors within the meaning of Article 2(e) of the Prospectus Regulation (EU) 2017/1129, as amended ("Qualified Investors"). In addition, in the UK, the Information is addressed to and directed only at, and should only be relied on by, Qualified Investors who are persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), and persons who are high net worth entities falling within Article 49(2)(a) to (d) of the Order or are persons to whom it may otherwise be lawful to communicate it to (all such persons being referred to as "relevant persons"). If you have received the Information and you are (i) in the UK and not a relevant person, or (ii) in the EEA and not a Qualified Investor, you must return this document immediately to the Company. Any investment or investment activity to which the Information relates is available only to relevant persons or will be engaged in only with relevant persons.

Upon receipt of this Presentation, you warrant, represent, acknowledge and agree to and with the Company that (i) you are a relevant person (as defined above), (ii) you will not distribute, disclose or provide any Information or material discussed today in any form, alone or as part of or incorporated into any other material, to any other person and (iii) you will not at any time have any discussion, correspondence or contact concerning this Presentation with any of the directors, employees or shareholders of the Company or its subsidiaries nor with any of their suppliers without the prior written consent of the Company.

Page 4

Strong demand and strategic progress, yet operational limits and regulatory challenges

Page 5

The third quarter shows group-wide stabilization and solid performance

Page 6

The establishment of the "Digital Hangar" two years ago led already to major

improvements in the digital customer experience

Doubled App Users: increased to 800,000 daily users since 2023

40%+ of digital check-ins via the App

1.3m customer claims handled end-to-end

Awarded Best Airline App 2024

App satisfaction 4.7 stars on a 5 stars scale

Page 7

Largest fleet renewal of Lufthansa Group is imminent, including a major

Page 8

Beyond 2024 our strategic path remains unchanged

BECOMING MORE …

"Focused" "International" "Premium"

Airline

core business

Passenger Airlines

Page 9

Q3 2024 Results

Till Streichert, CFO

Financial Overview

Frankfurt, 29 October 2024