EUROPES ONLY ULTRA LOW COST AIRLINE

Full Year Results 2013

Europes only ultra-low cost carrier

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EUROPES ONLY ULTRA LOW COST CARRIER (ULCC)

Lowest Fares/Lowest Unit Costs in Europe No fuel surcharges.Guaranteed! No 1 For Traffic 81.5m

No 1 For Coverage

1,611 Routes from 57 Bases

No 1 For Cmer Service Most on time flights Fewest mishandled bags Fewest cancellations 29th Year of Strong Growth @ record profits Unblemished 29 Year Safety Record

Europes only ultra-low cost carrier

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NO. 1 LOWEST FARES IN EUROPE Avg. Fare LOW HIGH Ryanair easyJet Norwegian Air Berlin 48 82 86 120 +71% +79% +150% % > Ryanair

SAS
Lufthansa AF-KLM IAG
Source: Latest published company year end information

129
211 261 282

+169%
+340% +444% +488%

Europes only ultra-low cost carrier

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NO. 1 TRAFFIC GROWTH

85

PAX (ms)
80

81.5

65

45

25

05

06

07

08

09

10

11

12

13

14

FY

Europes only ultra-low cost carrier

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NO. 1 COVERAGE

57 bases 180 airports 29 countries 1,611 routes 1,500+ daily deps 303 Boeing 737-800 NGs

Newest fleet (4 Years)

81.5m pax p.a.

Europes only ultra-low cost carrier

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NO. 1 LOWEST EX FUEL UNIT COSTS

RYA Staff Airport & handling Route charges Ownership & maint. 5 8 6 8

EZY 9 21 6 9

NOR 16 19 8 17

AB1 15 37 8 26

LUV 34 9 0 17

Spirit 16 5 0 16

S & M + other
Total

2
29

9
54

10
70

20
107

15
75

13
50

% > Ryanair

+ 86% +141%

+269%

+159%

+72%

Source: Latest published company year end information & The Airline Analyst

Europes only ultra-low cost carrier

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NO. 1 MARGIN & SHAREHOLDER RETURNS

RYA
Net Margin 12%

EZY
7%

NOR
4%

AB1
0%

LUV
2%

Cash Earnings *
Free Cash Flow ** Net Cash/(Debt) *** Sholder Returns ****

18%
828m 61m 1,530m

9%
64m 72m 380m

7%

2%

7%
557m (142m) 1,369m

(125m) (235m) (497m) (756m) -

* (Net profit + depreciation) / total revenue ** Operating cash flow adjusted for tax , interest and capex *** Post 492m special dividend in November 2012 **** All shareholder returns from 2007
Source: Calculated based on latest year end company information and statistics from Reuters & The Airline Analyst

Europes only ultra-low cost carrier

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FY2013 FINANCIAL HIGHLIGHTS

Mar 12
Traffic Load Factor Avg. Fare (incl. bag) Rev. Per Pax. Revenues 75.8m 82% 45

Mar 13
79.3m 82% 48

Change
+ 5%

+ 6%

57
4,325m

62
4,884m

+ 8%
+ 13%

Profit after Tax

503m

569m

+ 13%

Europes only ultra-low cost carrier

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STRONG BALANCE SHEET

Mar 12 Aircraft (inc. dep.) Cash Total Liabilities Debt Net Debt 110m 5,485m 3,516m 9,001m 2,069m 3,625m 3,307m 9,001m

Mar 13 5,384m 3,559m 8,943m 2,172m 3,498m Net Cash 61m

After 492m Spec. Div.

S/H Funds
Total

3,273m
8,943m

Europes only ultra-low cost carrier

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OUTLOOK

Traffic 2m (+3%) to 81.5m

FY14 fuel cost 200m (+10%), 90% hedged @ $980pt & /$1.31

Unit costs ex-fuel 3% (sect. length & Ecntrl charges)

FY14 profit guidance - 570m to 600m, (subj. to H2 yields)

Growth avail. as competitors consol., restructure or fail

175 a/c order facilitates growth to 100m pax p.a.

Further sholder returns pos. @ end FY 15 subj. to profits & capex

Europes only ultra-low cost carrier

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COMPETITION IN RETREAT (2012/13)

CLOSURES

Spanair
Malev BMI Baby

Spain
Hungary UK France/Ned Spain Scandinavia Poland Germany

2,000 job losses

2,600 job losses 1,200 job losses SH losses of 750m 4,500 job cuts, 35% pay cuts 6,000 job cuts, 15% pay cuts 950 jobs cut 2,000 jobs cut

FLAGS

AF-KLM Iberia SAS LOT

LCCs

Air Berlin

easyJet
Wizzair

UK
E. Europe

Closed MAD & cut LPL base

Cut Cork & WAW routes

Europes only ultra-low cost carrier

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RYA ORDERS 175 NEW AIRCRAFT

New a/c deliver from 2014 2018 (FY 15-19)

Vol. order pricing not dissimilar to last agreement Controlled, profitable, organic growth strategy (CAGR 3-5%) 180 apts (57 bases) provide platform for growth 75+ apts seeking Ryanair pax. growth EU market share growth, 15% to over 20% (100m+ pax) Youngest fleet, avg. age < 5yrs.

Maintains lowest, a/c, crew & maintenance costs

Europes only ultra-low cost carrier

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EU SHORT HAUL CAPACITY GROWTH LIMITED

175

150

Short Haul A/C Orders 2013 to 2018

125

100

175
75

117
50

73
25

64 42

40
19 6
AF-KLM

0 Ryanair Norweigan Wizzair Lufthansa Air Berlin IAG easyJet

Source: Boeing, Airbus and CAPA Centre For Aviation Websites as well as latest company announcements

0
Vueling

Europes only ultra-low cost airline

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RYAS MKT SHARE UNDERLINES GROWTH POTENTIAL Mkt. Share Spain 21% No. 1 RYANAIR No. 2 IAG No. 3 Vueling

Italy
Ireland

22%
44%

RYANAIR
RYANAIR

Alitalia
Aer Lingus

easyJet
Air France

Poland
Morocco

23%
15%

RYANAIR
RAM

LOT
RYANAIR

Wizz
easyJet

UK
Germany France
Source: Capstats

16%
5% 7%

easyJet
Lufthansa Air France

IAG
Air Berlin easyJet

RYANAIR
RYANAIR RYANAIR

Restructuring of loss making short haul business underway

Europes only ultra-low cost carrier

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LOW FARE PENETRATION UNDERLINES GROWTH POTENTIAL Avg. 55% penetration in developed low fare markets:

UK (58%) Spain (52%) Italy (50%)

Sig. low fare growth pot. Germany (25%) Sweden (25%) France (25%) Belgium (37%) Holland (34%) Switzerland (26%) Greece (21%) Portugal (36%) Poland (46%) East Eur. (5% to 50%)
BEL 37% NED 34% NOR 46% FIN 25% SWE 25% LAT 85%

EST 33%

LTH 51%
CZ REP 36% AUS 22% SLV 86% HUN 50% BUL 34%
1

DEN 33% BLR 5%

IRE 88%

UK 58%

GER 25% FRA 25% ITA 50%

POL 46%

UKR 10% ROM 27%

POR 35%

SPN 52%

SWZ 26%

TUR 38%

GRE 21%

< 50% low cost penetration

Source: Deutsche Bank analyst report, Diio Mii, & Capstats

> 50% low cost penetration

Europes only ultra-low cost airline

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SUMMARY

FY13 traffic 79.3m - 5% growth FY13 profits of 569m - 13% growth FY14 profit guidance - 570m to 600m , (subj. to H2 yields) 7 new bases & over 200 new routes

EU competitors consolidate, restructure or fail

175 a/c order delivers controlled, profitable growth of circa 5% p.a. Bases/apts in place to support growth to 100m+ pax Further sholder returns possible from end FY 15 onwards

Europes only ultra-low cost airline

This presentation is subject to copyright and may not be copied or used without the express prior consent of Ryanair

EUROPES ONLY ULTRA LOW COST AIRLINE

Appendices

Europes only ultra-low cost airline

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FLEET AND PAX GROWTH (FY14 FY19)

New Lease Returns Deliveries / Disposals FY 14

FY 15 FY 16 FY 17 FY 18 FY 19 Total

Year End Fleet 290

298 323 343 367 375 375

Pax Nos (ms) 82

83 86 90 95 100

Pax Growth 3%
3% 3% 5% 5% 5%

0
11 35 50 50 29 175

-15
-3 -10 -30 -26 -21 -105

Europes only ultra-low cost airline

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NO. 1 SHAREHOLDER RETURNS

Equity Raised FY 1998 FY 1999 FY 2000 83m 64m 122m

Shareholder Returns FY 2008 buyback 1 FY 2009 buyback 2 FY 2011 spec. div. 1 300m 46m 500m

FY 2001
FY 2002 Tot. Raised

128m
188m 585m

FY 2012 buyback 3
FY 2013 buyback 4 FY 2013 spec. div. 2 Tot. Returned

125m
67m 492m 1,530m

Next return pos. end of FY 15, subj. to profits and capex

Europes only ultra-low cost carrier

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FY2014 NETWORK 57 BASES

Europes only ultra-low cost airline

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DISCLAIMER Certain of the information included in this presentation is forward looking and is subject to important risks and uncertainties that could cause actual results to differ materially. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend upon future circumstances that may or may not occur. It is not reasonably possible to itemise all of the many factors and specific events that could affect the outlook and results of an airline operating in the European economy. Among the factors that are subject to change and could significantly impact Ryanairs expected results are the airline pricing environment, fuel costs, competition from new and existing carriers, market prices for the replacement aircraft, costs associated with environmental, safety and security measures, actions of the Irish, U.K., European Union (EU) and other governments and their respective regulatory agencies, fluctuations in currency exchange rates and interest rates, airport access and charges, labour relations, the economic environment of the airline industry, the general economic environment in Ireland, the UK and Continental Europe, the general willingness of passengers to travel and other economics, social and political factors and flight interruptions caused by volcanic ash emissions or other atmospheric disruptions.
Europes only ultra-low cost carrier
This presentation is subject to copyright and may not be copied or used without the express prior consent of Ryanair