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Investor Presentation A u g u s t 2 0 2 5
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Legal Comments This presentation has been prepared by EL AL Israel Airlines Ltd. (the Company) for the sole purpose of providing information about the Company, its operations and financial results. The information contained in the presentation is provided for convenience only and does not constitute a basis for making investment decisions nor does it constitute a substitute for data collection and analysis. Moreover, this presentation does not constitute a recommendation, offer, or solicitation for the purchase or sale of shares in the Company, nor does it constitute a substitute for independent judgment or independent collection and analysis of data by each investor. The information and figures provided in the presentation are partial and presented in a condensed form for convenience only. This information should be read along with all details, descriptions, clarifications, assumptions, qualifications, and assessments as well as the description of risk factors included in the Company's 2024 Periodic Report, which was published on March 12, 2025. In any event of inconsistency between the information contained in the presentation and the information included in the Period Report of the Company, the information included in the Period Report will prevail. The data contained in this presentation consist of forecasts and/or assessments and/or assumptions based on data available to the Company as of the date hereof, as well as estimations and expectations of the Company, all of which constitute as forward-looking statements within the meaning defined in the Securities Law, 5728- 1968. The Company has no assurance that such forecasts and/or assessments and/or assumptions will fully or partially materialize, as they depend on external and macroeconomic factors on which the Company has no or little influence, such as changes in market and environmental conditions, regulatory changes or the realization of any of the Company’s risk factors. The Company is not obliged to update or change such forecasts and/or assessments and/or assumptions in order to reflect events or circumstances occurring after the date of this presentation. The presentation also includes estimates and other statistical data based on external sources which have not been independently verified by the Company, and the Company is therefore not responsible for their correctness. 2
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3 Total revenues $777M -7% Net profit $66M -55% Financial results EBITDAR $179M -36% ASK 6,838M -3% Operational indicators RRPK ¢11.74 -2% RASK Load factor ¢10.86 92.5% -2% ~ Q2 2025 Compared to Q2 2024 Profit before tax $88M -54% The impact of the war with Iran ~$100M Impact on profit due to war-related damages, including reported direct damages, loss of revenue, and provisions for passenger compensation ASK (M) 2,9352,651 2,698 1,489 April May June July 20% 9% -37% 8% * % change compared to 2024
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1,835 1,773 1,6741,586 1,491 1,4481,422 1,367 1,2241,156 1,1341,088 1,079 1,083 833859 725688658 651 668619580 559 547 550 556 537502 490 488 341 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 ALL PAX LY PAX 4 Passenger Traffic at Ben Gurion Airport (In thousands of passengers) Total EL AL LY Market share Passengers Passengers % Change from 202458% 23% 18% 15% -41% -39% 43% 47% 39% 37% 43% 44% 50% 57% 51% 49% 45% 39% 34% 46% 41% 43% Data source: Ben Gurion report
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April 2025 Average daily passengers 21K Total passengers – 620K Average daily passengers 115 Total passengers – 3,443 5 Fast recovery to full operational capacity Data source: EL AL Data Lifting of restrictions 120 108100 94 80 60 57 40 44 42 30 30 20 19 13 110 7 0 1-12.6 13-17.6 18.6 19.6 20.6 22.6 23.6 24.6 25.6 26.6 27.6 29.6 30.6 1-31.7 113 125 El Al flights May 2025 Average daily passengers 21K Total passengers – 667K Average daily passengers 114 Total passengers – 3,538 Passengers 23,300 22,00021,500 20,000 12,500 9,500 8,900 6,700 6,300 3,400 2,400 2,500 1,200 Daily average
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*Booking in terms of sales - do not constitute revenue, but bookings that have been ticketed and will be recognized as revenue after the flight. The figures are the forecast gross sales data, including port taxes attributed thereto, and including sales of vouchers, credits and frequent flyer points. In certain cases the sales of flight tickets can be changed by the customers as a change/credit. 6 1,1231,087 109 83 5173 112 10354 84 53 24766153 50 772 95 111 147 1053987 945906 926861 753 514 SEP 23-NOV 23 DEC 23-FEB 24 MAR 24-MAY 24 JUN 24-AUG 24 SEP 24 - NOV 24 DEC 24 - FEB 25 MAR 25 - MAY 25 EST. JUN 25-AUG 25 27% 47% 47% 1,040 49% 47% 1,104 60% 1 ,101 51% ($M)Booking trend 1 ,213 1,096 Sales for future departure month 51% Cash Refunds Voucher granted Net Sales Gross ($M) Booking* * Booking in terms of sales - do not constitute revenue, but bookings that have been ticketed and will be recognized as revenue after the flight. The figures are the forecast gross sales data, including port taxes attributed thereto, and including sales of vouchers, credits and frequent flyer points. In certain cases the salesof flight tickets can be changed by the customers as a change/credit.
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*Booking in terms of sales - do not constitute revenue, but bookings that have been ticketed and will be recognized as revenue after the flight. The figures are the forecast gross sales data, including port taxes attributed thereto, and including sales of vouchers, credits and frequent flyer points. In certain cases the sales of flight tickets can be changed by the customers as a change/credit. 7 Quick recovery following the war with Iran High demand during H2 2025 ($M)Booking trend (June-August) Sales for future departure month * Booking in terms of sales - do not constitute revenue, but bookings that have been ticketed and will be recognized as revenue after the flight. The figures are the forecast gross sales data, including port taxes attributed thereto, and including sales of vouchers, credits and frequent flyer points. In certain cases the salesof flight tickets can be changed by the customers as a change/credit. Cash Refunds Voucher granted Net Sales Gross ($M) Booking* 60 106 38 43 619 591 JUL-AUG 24 JUL-AUG 25 325 25 12 141 288 53 162 JUN-24 JUN-25 43% 716 356 44% 42% 740 52%
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Looking ahead, foreign airlines are gradually returning with a lower seat supply ASK (M) Q3 2025 vs. Q3 2023 Foreign airlines 8 +18.5% -64% From 2023 to the end of 2025, ASK in the global aviation industry is expected to increase by 13% [excluding the Far East] Source: IATA Sustainability and Economics, ACI World
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9 Ongoing execution of the growth strategy and enhancement of financial resilience Q2 2025 Fleet expansion and partnerships YTD Change Change vs. Q2 2024 Passenger aircraft +2 Enhancing loyalty and expanding customer base 3.4M 47 + 4 ACMI FFP members 2 Cargo aircraft [Leased + ACMI] 2 Acquisition of additional 737 aircraft to enter operation during 2026 1 New flight simulator 23 Codeshare partnerships +139K +316K 481K FlyCard credit card holders +34K +67K 2024 55% 50% FFP members purchase rate during H1 Strengthening financial resilience 1,887M$ Available funds balance +443M$ +797M$ 36M$ H1 Interest income +28M$ (496M$) Net debt -571M$ -1,107M$ 789M$ Equity +261M$ +589M$
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Financial stability 10 31.12.21 31.12.22 31.12.23 31.12.24 30.6.2025 Debt 2,135 2,021 1,835 1,519 1 ,391 Available funds 91 283 406 1,444 1 ,887 balance Net Debt 2,044 1,737 1,429 75 (496) Net Debt N/A / EBITDA Negative 5.6 2.8 0.1 <0 [LTM] EBITDA 787.8 527 161 106 -209.2-548.8 -346.9 -6.3 31.12.21 31.12.22 31.12.23 31.12.24 Net profit Options* Other 30.6.2025 Equity [Since 1.1.2020]Accumulated loss 31.12.20 31.12.21 31.12.22 31.12.23 31.12.24 30.6.2025 -11 -173-531 -718-835-944 * Including Stock-base compensation Dummy Text
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Thank you מה עשינו עד כה