Air New Zealand Limited · NZX:AIR

Air New Zealand — Shareholder Meeting (September 2017)

30 slides from Air New Zealand's shareholder meeting presentation, Sep 28, 2017

1. Slide 1: For personal use only

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2. Slide 2: For personal use only

   For personal use only

3. Slide 3: Board of directors

   For personal use only Tony Carter Jan Dawson Jonathan Mason Linda Jenkinson Paul Bingham Rob Jager Dame Therese Walsh Sir John Key

4. Slide 4: Agenda

   Agenda For personal use only • Chairman’s address • CEO’s address • Questions on performance and outlook • Resolutions • General discussion and questions

5. Slide 5: The second best result in our history

   The second best result in our history For personal use only Earnings before taxation $663M $527M $474M $358M $255M 2012 2013 2014 2015 2016 2017

6. Slide 6: 2017 financial highlights

   2017 $5.1b For personal use only Operating revenue financial highlights $527m Earnings before taxation $904m Operating cash flow 15.3% Pre-tax return on invested capital

7. Slide 7: A robust balance sheet

   A robust balance sheet For personal use only $1.4b Cash on hand 51.8% Gearing Baa2 Investment grade credit rating

8. Slide 8: Delivering strong dividends

   Delivering strong dividends For personal use only Declared dividends (cps) 25.0 Ordinary Special 10.0 20.0 21.0 16.0 8.0 10.0 2013 2014 2015 2016 2017

9. Slide 9: 2018 Outlook

   For personal use only 2018 Outlook

10. Slide 10: For personal use only

    For personal use only

11. Slide 11: Success measured on three dimensions

    Success measured on three dimensions For personal use only 11

12. Slide 12: Our virtuous circle

    For personal use only circle Our virtuous

13. Slide 13: Reinvestment matters

    Reinvestment matters For personal use only 13

14. Slide 14: Commercial results that outperform the market

    Commercial results that outperform the market For personal use only Total shareholder return Air New Zealand 468% NZX50 ASX200 126% 116% 89% Bloomberg World Airlines Index S&P500 1 year 3 year 5 year 10 year Source: Bloomberg, period ended as at 30 June 2017. 14

15. Slide 15: Enhanced customer experience

    A »— n Sy ~S enhan ed™=-< #7] #9 customer a experience 2017 Top Corporate 2017 Top Corporate Long-haul airline Reputation in Reputation in of Star Alliance New Zealand Australia for 2016 (from #1 in 2016) (from #6 in 2016) Short-haul airline Customer Sustainable of Star Alliance Satisfaction Compani

16. Slide 16: No.1 employer

    No.1 employer top rated in New Zealand Supreme award winner NZI Sustainable Business Network Awards 39% of senior leadership positions held by woman; up from 16% in 2012 Supreme award winner Maori Language Awards, for promoting increased usage of Te Reo 15% improvement 2017 total recordable injuries

17. Slide 17: Improving market dynamics for the year ahead

    Improving market For personal use only dynamics for the year ahead

18. Slide 18: 2018 capacity will increase 4% to 6%

    2018 capacity will increase 4% to 6% For personal use only 1 Pacific Islands includes Bali and Honolulu.

19. Slide 19: Expanding our core domestic business

    Expanding our core domestic business For personal use only

20. Slide 20: Targeted growth across the Tasman and Pacific Islands

    Targeted growth across the Tasman and Pacific Islands For personal use only

21. Slide 21: Building scale in our existing long-haul markets

    Building scale in our existing long-haul markets For personal use only

22. Slide 22: Loyalty programme continues to build strength

    Loyalty programme continues to build strength For personal use only 22

23. Slide 23: Supercharging New Zealand's success

    Supercharging New Zealand’s success For personal use only

24. Slide 24: Resolutions

    For personal use only Resolutions

25. Slide 25: Proxies and postal votes received

    Proxies and postal votes received (as at 27 September 2017) For personal use only Proxy votes Postal votes Resolution For Against Abstain Discretion For Against Abstain Resolution 1: Re-election of 345,093,966 272,578 1,567,253 583,555,239 1,224,835 278,693 84,308 Linda Jenkinson Resolution 2: Elect

26. Slide 26: Resolution: Jenkinson

    RESOLUTION NO Jenkinson

27. Slide 27: For personal use only

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28. Slide 28: General discussion and questions

    For personal use only General discussion and questions

29. Slide 29: For personal use only

    For personal use only

30. Slide 30: For personal use only

    For personal use only £2. AIR NEW ZEALAND \o_ A be A STAR ALLIANCE MEMBER Yq | 2@

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