Jazeera Airways Co. (ksc) · KSE:JAZEERA
Jazeera Airways Co. (ksc) — Jazeera Airways — Q1 2026 Earnings Presentation
28 slides from Jazeera Airways Co. (ksc)'s earnings presentation, May 13, 2026
Slide 1: Resilience During Uncertainty
1Q26 Earnings Webcast 13 May 2026 Resilience During Uncertainty
Slide 2: Starting Shortly...
Starting Shortly...
Slide 3: Disclaimer
Disclaimer .ayjall os Jazeera. | S
Slide 4: Disclaimer
Disclaimer The content and information of this document is only intended to provide users with financial and operational information about Jazeera Airways. No warrant or representation is made by Jazeera Airways for the contents of this document and in no way is the material provided in it intended
Slide 5: Agenda
Agenda Outlook for Operational 1Q26 & 2026 Performance Financial Operational & Review Financial Headlines CEO Introduction Q&A
Slide 6: Gratitude to the Kingdom of Saudi Arabia
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Slide 7: Slide 7
Slide 8: Global Aviation Under Pressure
GLOBAL AVIATION UNDER PRESSURE OPERATIONAL AIRSPACE FRAGMENTATION - Extended flight times ~~ AS S H OC KWAV E - Iranian, lraqi,and = ~~ ts xX | major Gulf airspaces ASQ, ) FUEL CHOKEHOLD: weeetestivety closed. GLOBAL ENERGY SUPPLY CRISIS REPORT oo SHIP TRANSITS DROPPED FROM | FINANCIAL IMPACT: 140TO
Slide 9: Flying Without a Hub
KIA CLOSURE FOR 57 DAYS LOSS OF HOME HUB
Slide 10: Flying Without a Hub
CONTROL AND EXECUTION: KEEPING KUWAIT CONNECTED Rapid Operational Pivot: ¢ Established multi-hub operations ¢ Activated five alternative gateways (KSA, Cairo) e Maintained connectivity to 27 destinations in 11 countries Scale of Operations: Non-stop for 64 days: © Operated over 1,500 flights e Facil
Slide 11: Flying Without a Hub
Flying Without a Hub Nimble And Detail-Oriented Implementation ext tin Financial Discipline Under Pressure Strategic Partnerships © Immediate cost containment measures oi strong) coopera ton win GACA o [ienigiiiy seosaeeiiian © Access to Saudi airports enabled continuity a Uaedierehipiecrion=: sy mb
Slide 12: Strategic Differentiation
Strategic Differentiation Speed & Agility Commercial Strength Lean Model ¢ First mover in setting up alterna- ¢ Maintained passenger flows and e Faster decisions tive operations relevance ¢ Lower structural inertia ° Ability to redeploy fleet and crew * Continued service to key commu- ° Higher adapt
Slide 13: Operational & Financial Headlines
Operational & Financial Headlines
Slide 14: 1Q26 Operational Headlines
1Q26 Operational Headlines PASSENGERS LOAD FACTOR UTILIZATION YIELD 1Q26: 925 k 1Q26: 81.0% 1Q26: 9.3 hrs 1Q26: KWD48.7 -25.6% +2.3% -23.4% +13.2% 1Q25: 1,244 k 1Q25: 78.7% 1Q25: 12.2 hrs 1Q25:KWD43.0 RASK CASK CASK (ex-fuel) 1Q26: 20.8 KWfils 1Q26: 22.1 KWfils 1Q26: 17.1 KWfils 1Q25: 18.1 KWfils +1
Slide 15: 1Q26 Financial Headlines
1Q26 Financial Headlines REVENUE OPERATING PROFIT NET PROFIT 1Q26: KWD45.1 mn 1Q26: KWD2.2 mn 1Q26: -KWD1.1 mn 1Q25: KWD53.6 mn -15.8% 1Q25: KWD6.8 mn -68.0% 1Q25: KWD4.7 mn -122.5%
Slide 16: Ancillary Revenue
Ancillary Revenue TOTAL PER ANCILLARY REVENUE PASSENGER 1Q26 1Q26: KWD5.2 mn 1Q26: KWD5.6 1Q25: KWD6.1 mn -13.9% 1Q25: KWD4.9 15.7%
Slide 17: 1Q26 Market Share & Passengers Distribution
1Q26 Market Share & Passengers Distribution MARKET SHARE PASSENGERS PASSENGERS GEOGRAPHIC GEOGRAPHIC 31 % at KWI DISTRIBUTION – 1Q25 DISTRIBUTION – 1Q26 Egypt, Egypt, 15.8% Other, 18.7% 32.3% 18.4% Other, 26.3% Europe, Subcontinent, 5.2% 15.6% Europe, Subcontinent, 4.7% 18.3% 31.0% GCC, 39.3% GCC, 3
Slide 18: Operational Performance
Operational Performance
Slide 19: 28 April 2026
1 I 9 Moscow 2026 QPrague Krakow Islamabad ~ (9 Lahore Qkathmandy | 9 a afl mbai _ _ ; / J on 2M Seats 60 Destinations! 25 Countries = = ¢ nts
Slide 20: Financial Review
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Slide 21: 1Q25 Vs 1Q26 Key Parameters
1Q25 Vs 1Q26 Key Parameters 1Q25 Vs 1Q26 OPERATING PARAMETERS 1Q25 1Q26 CHANGE KWD mn 1Q25 1Q26 CHANGE AVERAGE AIRCRAFT 24.0 23.0 -4.2% REVENUE 53.6 45.1 -15.8% DESTINATIONS 57 60 5.3% OPERATING EXPENSES -46.8 -42.9 -8.2% REVENUE DRIVERS 1Q25 1Q26 CHANGE OPERATING PROFIT 6.8 2.2 -68.0% SEATS 1,580,1
Slide 22: 1Q26 Financial Performance
1Q26 Financial Performance Revenue is lower by only 15.8% though seat capacity was 27.6% less due to the airport closure from 1st March. Load factor was higher by 2.3% and yield was higher KWD5.7 per pax, compensating partially for the reduced level of operations. Costs were lower by 8.2% while bloc
Slide 23: 1Q26 Key Performance Metrics
1Q26 Key Performance Metrics Quarterly Passengers (000) Quarterly Yield (KWD) BRENT Vs. SINGJET Swap (USD/BBL) 1,455 SINGJET Swap BRENT Swap 47.0 48.7 46.5 123.8 1,308 1,244 42.0 90.2 86.1 88.2 81.1 926 35.6 75.0 78.1 1,020 66.8 68.2 63.1 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3
Slide 24: Outlook
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Slide 25: Outlook for FY26
Outlook for FY26 Summer season expected to be highly active with 11 new destinations being rolled out. Expect pent up demand to kick in during the summer peak season as KIA resumes full operations. Seat densification program ongoing High price fluctuations in terms of yield and according to schedule
Slide 26: Operational Outlook
Operational Outlook FLEET Despite market uncertainty, this is short term tailwind from lower fuel prices Remain agile in deployment, seat densification program will drive revenue and cost benefits Risks Geopolitical risks remain the key NETWORK driver to operations, network planning and supply chain
Slide 27: te as
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Slide 28: Thank You
For more information, please contact Investor Relations investorrelations@jazeeraairways.com Jazeera Airways KSC is listed on Krishnan Balakrishnan the Kuwait Stock Exchange krishnan.balakrishnan@jazeeraairways.com Bloomberg Reuters For latest investor information Jazeera KK JAZK.KW investorrelation