9m Results
2023
8 November 2023

Guillaume FAURY | Chief Executive Officer
Thomas TOEPFER | Chief Financial Officer

Safe Harbour Statement
DISCLAIMER
This presentation includes forward-looking statements. Words such as “anticipates”, “believes”, “estimates”, “expects”, “intends”, “plans”, “projects”, “may” and similar expressions are used to identify
these forward-looking statements. Examples of forward-looking statements include statements made about strategy, ramp-up and delivery schedules, introduction of new products and services andmarket expectations, as well as statements regarding future performance and outlook. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events andcircumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

These factors include but are not limited to:▪ Changes in general economic, political or market conditions, including the cyclical nature of some of Airbus’ businesses;▪ Significant disruptions in air travel (including as a result of the spread of disease or terrorist attacks);▪ Currency exchange rate fluctuations, in particular between the Euro and the U.S. dollar;▪ The successful execution of internal performance plans, including cost reduction and productivity efforts;▪ Product performance risks, as well as programme development and management risks;▪ Customer, supplier and subcontractor performance or contract negotiations, including financing issues;▪ Competition and consolidation in the aerospace and defence industry;▪ Significant collective bargaining labour disputes;▪ The outcome of political and legal processes, including the availability of government financing for certain programmes and the size of defence and space procurement budgets;▪ Research and development costs in connection with new products;▪ Legal, financial and governmental risks related to international transactions;▪ Legal and investigatory proceedings and other economic, political and technological risks and uncertainties;▪ Changes in societal expectations and regulatory requirements about climate change;▪ The full impact of the COVID-19 pandemic and the resulting health and economic crisis;▪ Aggravation of adverse geopolitical events, including Russia's invasion of Ukraine and the resulting imposition of export control restrictions and international sanctions, and rising military tensions
around the world.
As a result, Airbus SE’s actual results may differ materially from the plans, goals and expectations set forth in such forward-looking statements.
For more information about the impact of Russia’s invasion of Ukraine, see note 2 "Ukraine Crisis" of the Notes to the Airbus SE Unaudited Condensed Interim IFRS Consolidated Financial Statements
for the nine-month period ended 30 September 2023. For more information about the impact of the Macroeconomic Environment, see note 3 "Macroeconomic Environment” of the Notes to the Airbus
SE Unaudited Condensed Interim IFRS Consolidated Financial Statements for the nine-month period ended 30 September 2023. For more information about factors that could cause future results todiffer from such forward-looking statements, please refer to Airbus SE's most recent annual report, including the financial statements and notes thereto, the most recent Universal Registration Document
and the most recent Risk Factors.
Any forward-looking statement contained in this presentation speaks as of the date of this presentation. Airbus SE undertakes no obligation to publicly revise or update any forward-looking statements inlight of new information, future events or otherwise.

Rounding disclaimer:
Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

Company
Highlights

Airbus 9m Results 2023

9m 2023 Key Topics▪ Progressing on our plan albeit in a complex operating environment▪ 488 commercial aircraft delivered in 9m 2023

▪ 9m 2023 financials:▪ EBIT Adjusted of € 3.6 bn; EBIT reported of € 2.7 bn▪ FCF before M&A and Customer Financing of € 1.0 bn▪ Charges on certain satellite development programmes▪ Guidance maintained4

9m 2023 Commercial Positioning

5

Consolidated Airbus Order Book

Consolidated Airbus

by Division

External Revenue by Division

Order Intake
Airbus(in units)(net)

Order Book
Order Intake

Helicopters(in units)(net)

Defence and Space(in € m)Order Intake

Order Book(net)

9m 2023

9m 2022

Change

1,241

647

91.8%

7,992

7,294

9.6%

€ 42.6 bn

191

246

-22.4%

t/o defence€ 7.2 bn

751

792

-5.2%

8,469

7,991

6.0%

▪ AIRBUS: Gross orders: 1,280 a/c; Net orders: 1,241 a/c; Backlog: 7,992 a/c▪ HELICOPTERS: 191 net orders▪ DEFENCE AND SPACE: Order intake € 8.5 bn, including the A400M in-service support contract for Germany

Airbus73%

Helicopters

10%

Defence and
Space

17%

9m 2023 Financial Performance
Revenues

6

EBIT Adjusted

in € bnin € bn / RoS (%)

38.1

9m 202242.6

9m 2023

9.1%

8.5%

3.5

3.6

9m 20229m 2023

EPS(1) Adjusted

FCF before M&A and Customer Financing

in €in € bn

3.17

3.51

2.9
1.0

9m 20229m 2023(1) 9m 2023 Average number of shares: 788,697,186 compared to 786,924,508 in 9m 2022
Capitalised R&D: € 253 m in 9m 2023 and € 179 m in 9m 2022

9m 20229m 2023

9m 2023 Profitability

7

EBIT Performance▪ 9m 2023 EBIT Reported of € 2,712 m

in € bn▪ 9m 2023 EBIT Adjustments resulting from:

3.5

3.6

3.6
2.7

▪ € -

806 m

PDP mismatch / BS revaluation

▪ €

-

57 m

Aerostructures transformation

▪ €

-

56 m

Others▪ 9m 2023 Net Adjustments of € - 919 m
EBIT Adjusted
9m 2022

EBIT Reported
9m 2023▪ 9m 2023 Net Income of € 2,332 m

EPS(1) Performancein €▪ 9m 2023 Net Income Adjusted of € 2,769 m

3.17

3.51

EPS Adjusted
9m 2022

3.26

2.96

EPS Reported
9m 2023(1) 9m 2023 Average number of shares: 788,697,186 compared to 786,924,508 in 9m 2022
Capitalised R&D: € 253 m in 9m 2023 and € 179 m in 9m 2022

USD Exposure Coverage

8

Forwards & Euro Conversion as of Sep. 2023

IN $ BILLION

Forwards & Euro Conversion as of Dec. 2022

15.2
23.2
20.2
15.7
13.6
6.9

Average blended rates(1)(€ vs. $)Forwards and Euro conversion

8.0

2023
Remaining 3 months

2024

2025

2026

2027

2028
and beyond

1.20

1.21

1.22

1.26

1.27

1.24

( 1.21 in Dec. 22 )( 1.23 in Dec. 22 )( 1.24 in Dec. 22 )( 1.28 in Dec. 22 )( 1.27 in Dec. 22 )( 1.22 in Dec. 22 )Mark-to-market of FX hedging instruments incl. in AOCI = € - 7.3 bn
Closing rate @ 1.06 € vs. $▪ In 9m 2023, $ 15.2bn(2) of forwards matured and Euro conversion realised at an average blended rate(1) of € 1 = $ 1.20.
▪ $ 8.7 bn(2) of new USD coverage were added at an average blended rate(1) of € 1 = $ 1.11.
▪ Forwards and Euro conversion portfolio(2) as of 30 September 2023 at $ 87.5 bn, at an average blended rate(1) of $ 1.23 (vs. $ 93.9 bn in December 2022 at $ 1.24).

Approximately 60% of Airbus US$ revenues are naturally hedged by US$ procurement.
(1) Blended rates reflect both EBIT impact of hedge rates of the US$ hedge portfolio and Euro conversion.
(2) Volumes reflect both forwards and Euro conversion. Total amount predominantly contains €/$. Volumes reflect roll-over which will be finalised in the next quarter.

9m 2023 Cash Evolution9IN € BILLION

-0.9
+3.3

-1.6
-0.1

-1.5
-0.3

Free Cash Flow before M&A: € + 0.8 bn
t/o Customer Financing € - 0.3 bn
Free Cash Flow before M&A andCustomer Financing: € + 1.0 bn

9.4

Net Cash Position
December 2022

8.3

Gross Cash Flowfrom Operations

Change in
Working Capital(1) Thereof CapEx of € - 1.7 bn(2) M&A transactions include acquisitions and disposals of subsidiaries and businesses(1)Cash used forinvesting activities
before M&A

M&A

(2)

Shareholder Return

Pensions & Others

Net Cash Position
September 2023

Divisions
Highlights

Airbus 9m Results 2023

11

Deliveries by Programme (Units)IN € MILLION

9m 2023

9m 2022

Change

A220

8%

1,241

647

91.8%

A320

80%

7,992

7,294

9.6%

A330

4%

488

437

11.7%

A350

7%

Revenues

31,50726,654R&D Expenses

1,798

1,618

5.7%

6.1%

3,216

2,875

10.2%

10.8%

2,306

3,241

7.3%

12.2%

Platforms

90%

Services

10%

Order Intake (net)

Units

Order Book
Deliveries

Unitsin % of Revenues

EBIT Adjusted
in % of Revenues

EBIT
in % of Revenues(1) (2)

18.2%
11.1%
11.9%
-28.8%▪ Deliveries: 488 aircraft comprising 41 A220, 391 A320 Family, 20 A330 and 36 A350
▪ Revenues mainly reflect higher deliveries▪ EBIT Adjusted mainly reflects deliveries partially offset by investments for preparing the future(1) Before a reduction of 2 a/c previously recorded as sold in December 2021 for which a transfer was not possible due to international sanctions against Russia(2) Two A350 delivered on operating lease
Capitalised R&D: € 98 m in 9m 2023 and € 96 m in 9m 2022

External Revenue Split

Helicopters

12External Revenue Split
IN € MILLION

9m 2023

9m 2022

Change

Civil

47%

191

246

-22.4%

Defence

53%

751

792

-5.2%

197

193

2.1%

4,662

4,515

3.3%

R&D Expenses

223

178

in % of Revenues

4.8%

3.9%

EBIT Adjusted

417

380

in % of Revenues

8.9%

8.4%

EBIT

410

380

in % of Revenues

8.8%

8.4%

Platforms

47%

Services

53%

Order Intake (net)

Units

Order Book
Deliveries
Revenues

Units▪ Revenues reflect deliveries and a good performance in Services▪ EBIT Adjusted reflects a solid performance across programmes and Services

Capitalised R&D: € 1 m in 9m 2023 and € 0 m in 9m 2022

25.3%
9.7%
7.9%

Defence and Space

13

External Revenue Split
IN € MILLION

9m 2023

9m 2022

ChangeOrder Intake (net)

8,469

7,991

6.0%

Revenues

7,133

7,593

-6.1%

R&D Expenses

165

180

in % of Revenues

2.3%

2.4%

EBIT Adjusted

(1)

231

in % of Revenues

0.0%

3.0%

EBIT

(3)

(64)

in % of Revenues

0.0%

-0.8%

Services

36%

N/A
N/A

of certain satellite development programmes.
▪ EBIT Adjusted decrease reflects updated assumption on certain satellite development programmes.

Capitalised R&D: € 154 m in 9m 2023 and € 83 m in 9m 2022

64%

-8.3%

▪ Revenues decrease mainly driven by backloaded A400M delivery profile and updated Estimates at Completion▪ A400M: 4 a/c delivered in 9m 2023

Platforms

Military Air Systems

59%

Space Systems

22%

Connected Intelligence& Others

19%

Guidance
Highlights

Airbus 9m Results 2023

2023 Guidance
The guidance issued in February 2023 is maintained.
As the basis for its 2023 guidance, the Company assumes:▪ no additional disruptions to the world economy, air traffic, the supply chain, the Company’s internal operations, and its ability to deliverproducts and services.
The Company’s 2023 guidance is before M&A.

On that basis, the Company targets to achieve in 2023 around:▪

720 commercial aircraft deliveries;▪

EBIT Adjusted of € 6.0 billion;▪

Free Cash Flow before M&A and Customer Financing of € 3.0 billion

15

Key Priorities▪ Deliver on our commercial aircraft ramp-up▪ Continue the transformation of the Company▪ Further strengthen the backlog across businesses▪ Lead the development of sustainable aerospace▪ Deliver earnings and free cash flow growth potential

16Appendix

Airbus 9m Results 2023

Expected Average Blended Rates for Forwards and Euro Conversion € vs. $Active exposure management

1.28

Average
Blended Rates
1.26
(1)

1.24

1.24

1.23
1.22

1.22
1.20

1.21

1.20

1.21

1.21

1.18
1.18

(2)

1.16
1.14

Q1

Q2

2022

Q3

2023E

Blended rates reflect both EBIT impact of hedge rates of the US$ hedge portfolio and Euro conversion.
(1) Based on $ 4.2 bn hedges matured with associated EBIT impact and $ 0.3 bn of Euro conversion realised(2) Q3 actual

Q4

FY 2022

1.22

FY 2023E

1.20

189m 2023 Detailed Income Statement and Adjustments

19

thereof Adjustments
Impact on EBITIN € MILLION

9m 2023
Reported

Operational

FX

AirbusDefenceand Space(1)Helicopters

Airbus + Defence
and Space(2)

(106)

0

(7)

(806)

Financial
Result9m 2023
Adjusted

EBIT

2,712

3,631

in % of Revenues

6.4%

8.5%

Interest income

524

524

Interest expense

(531)

(531)

Other Financial Result

238

231

7

Financial Result

231

231

0

231

3,631

Income before taxes

2,943

Non-controlling interests

118

118

2,332

2,769

788,697,186

788,697,186

2.96

3.51

Net Income
Number of shares
EPS (in €)

(106)

0

(7)

Net Income Adjusted excludes the following items:▪Adjustments impacting the EBIT line (as reported in the EBIT Adjusted)▪The Other Financial Result, except for the unwinding of discounted provisions
The tax effect on Adjusted Income before taxes is calculated at 27%. The effective tax rate on Income before taxes is 25%.

(1) Thereof € + 0 m A400M programme update(2) Thereof € - 804 m Airbus, € - 2 m Defence and Space(806)

9m 2022 Detailed Income Statement and Adjustments

20

thereof Adjustments
Impact on EBITIN € MILLION

9m 2022
Reported

Operational

FX

AirbusDefenceand Space(1)Helicopters

Airbus + Defence
and Space(2)

(62)

(216)

0

349

Financial
Result9m 2022
Adjusted

EBIT

3,552

in % of Revenues

9.3%

9.1%

Interest income

9292Interest expense

(258)

(258)

Other Financial Result

(140)

(114)

(26)

Financial Result

(306)

(114)

(192)

Income before taxes

3,246

(114)

3,289

Non-controlling interests

90

90

2,568

2,491

786,924,508

786,924,508

3.26

3.17

Net Income
Number of shares
EPS (in €)

3,481

(62)

(216)

0

Net Income Adjusted excludes the following items:▪Adjustments impacting the EBIT line (as reported in the EBIT Adjusted)▪The Other Financial Result, except for the unwinding of discounted provisions
The tax effect on Adjusted Income before taxes is calculated at 27%. The effective tax rate on Income before taxes is 24%.

(1) Thereof € - 219 m A400M programme update(2) Thereof € + 428 m Airbus, € - 79 m Defence and Space

349

Liquidity as of 30 September 2023

21

RSCF:
▪ Signed on July 5, 2022
▪ 1stextension option of 1 year exercised inJune 2023:
o € 7,925 m maturing on July 5, 2028
o € 75 m maturing on July 5, 2027
▪ One remaining extension option of 1 year
▪ Fully committed by 38 banks▪ No financial covenants, no MAC clause▪ Sustainability-Linked€ 8.0 bn
Credit Facility (RSCF)€ 14.1 bn
Total Gross Debt
€ 22.4 bn

Financing Liabilities include bonds*:(1)

Incl. interest rate
contracts▪ € 8.0 bn EMTN
▪ $ 1.5 bn 144A/RegS▪ $ 0.8 bn USPP

*nominal amounts

Total Gross CashInvested inhighly rated securities

Credit Ratings:€ 8.3 bn
Net Cash(1) The 9m 2023 Gross Debt includes financing liabilities for € 12.7 bn and interest rate contracts related to fair value hedges for € 1.4 bn

Short-term rating:▪ S & P:
A-1
▪ Moody’s:
P-1
Long-term rating:▪ S & P:A stable outlook▪ Moody’s:
A2 stable outlook

Q3 2023 Key FiguresIN € MILLION22

Q3 2023

Q3 2022

Revenues

14,897

13,309EBIT Adjusted

1,013

836

EBIT

825

973

Net Income

806

667

FCF before M&A

(756)

944

FCF before M&A and Customer Financing

(537)

944

IN € MILLION
Q3 2023

Q3 2022

Revenues

Q3 2023

Q3 2022

EBIT Adjusted

Q3 2023

Q3 2022
EBIT

Airbus11,158

9,121

960

599

783

763

Helicopters

1,468

1,771

143

165

143

165

Defence and Space

2,480

2,537

(79)

76

(90)

49

Eliminations

(209)

(120)

(11)

(4)

(11)

(4)

14,897

13,309

1,013

836

825

973

Consolidated Airbus

Detailed Free Cash FlowIN € MILLION

23

9m 2023

9m 2022Net Cash position at the beginning of the period

9,431

7,740

Gross Cash Flow from Operations (1)

3,285

3,745

(942)

78

(1,625)(1,321)(1,684)(1,307)

718

2,502

(58)

(107)

Free Cash Flow before M&A

776

2,609

of which Customer Financing

(261)

(290)

1,037

2,899

Change in capital and non-controlling interests

140

140

Change in treasury shares / share buyback

(83)

(36)

Change in liability for puttable instruments

138

135

(277)

(458)

(1,421)(1,181)

(331)

(870)

8,315

7,972

Change in working capital(2)

Cash used for investing activities (3)of which Industrial CapEx (additions)Free Cash Flow

(4)

(5)

of which M&AFree Cash Flow before M&A and Customer Financing

Contribution to plan assets of pension schemes
Cash distribution to shareholders / non-controlling interests
OthersNet Cash position at the end of the period(6)(1) Excluding working capital change, contribution to plan assets of pension schemes and realised FX results on treasury swaps(2) Including net customer financing and excluding some perimeter change impacts from changes in consolidation(3) Excluding change in securities and change in cash from changes in consolidation and excluding bank activities(4) Excluding leased and financial assets(5) Excluding change in securities, change in cash from changes in consolidation, contribution to plan assets, realised FX results on treasury swaps and bank activities(6) The Company decided in 2022 to refine the net cash definition to include interest rate contracts related to fair value hedges

Net Cash PositionIN € MILLION

24

Sep. 2023

Dec. 2022

22,40523,598(12,667)(12,773)

Short-term Financing Liabilities(3,141)(2,142)Long-term Financing Liabilities(9,526)(10,631)(1,423)(1,394)

8,315

9,431

Gross Cash
Financing Liabilities

Interest rate contracts
Reported Net CashCustomer Financing ExposureIN € MILLION

25

Sep. 2023

Dec. 2022

AirbusClosing rate € 1 =Total Gross Exposureof which off-balance sheet
Estimated value of collateral
Net Exposure
Provision and asset impairment
Net Exposure after provisionSep. 2023

Dec. 2022

Helicopters$ 1.06$ 1.07$ 1.06$ 1.07

366

312

20

33

6

6

1

2

(292)

(262)

(20)

(33)

74

50

0

0

(74)

(50)

0

0

0

0

0

0

Airbus Customer Financing

26

AdditionsAirbus Customer
Financing Gross
Exposure in $ bn

1.0

0.8

0.6

0.5

0.3

Sell Down

0.6

0.8

Amortization
0.9

Net change

0.7

0.6

0.2

0.1
(0.2)
(0.1)

(0.2)

(0.3)
(0.7)

(0.1)

(0.7)

(0.7)

(0.7)

(0.6)

(0.5)

(0.7)

0.3

(0.2)

(0.3)

(0.1)

(0.1)

(0.6)

(0.1)

Gross Exposurein $ bn

(0.2)

(0.1)

(0.1)

(0.1)

(0.2)

(0.2)

0.3
0.1

0.0

(0.0)
(0.4)

(0.4)

(0.1)

(0.0)

(0.0)

(0.2)
(0.1)

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

1.5

1.8

1.7

1.4

1.5

1.6

1.3

1.5

1.7

1.5

0.9

0.8

0.5

0.4

0.3

0.4

Net Exposure fully provisioned

Net Exposure € 0.1 bn
Gross
Exposure€ 0.3 bn($ 0.3 bn)

Estimated
Collateral€ 0.3 bn($ 0.3 bn)

Net Exposure fully provisioned
Net Exposure € 0.1 bn
Gross
Exposure€ 0.4 bn($ 0.4 bn)

Estimated
Collateral€ 0.3 bn($ 0.3 bn)

31 December 2022

30 September 2023€/$ = 1.07€/$ = 1.06

Balance Sheet Highlights: Assets
IN € MILLION

27

Sep. 2023

Dec. 2022

Non-current Assets

55,48952,942of which Intangible & Goodwill

17,00916,768of which Property, plant & equipment

16,645

16,505of which Investments & other long-term financial assets

6,798

6,257

of which Contract assets

26

26

of which Positive hedge mark-to-market

643

753

of which Non-current securities

7,272

6,013

Current Assets

65,55463,002of which Inventory

36,52532,202of which Contract assets

2,062

1,501

of which Cash and cash equivalents

13,642

15,823of which Current securities

1,491

1,762

of which Positive hedge mark-to-market

425

1,141

Assets of disposal groups classified as held for sale56

0

121,099

115,944

1.06

1.07

Total Assets
Closing rate € vs. $Balance Sheet Highlights: Liabilities28

IN € MILLION

Sep. 2023

Dec. 2022

Total Equity

15,30012,982of which AOCI (Accumulated Other Comprehensive Income)(4,510)(5,016)37

32

Total Non-current liabilities

49,03950,367of which Pensions

2,525

3,193

of which Other provisions

3,314

3,703

of which Financing liabilities

9,526

10,631of which European Governments’ refundable advances

3,722

3,717

of which Contract liabilities

23,792

22,044of which Negative hedge mark-to-market

5,208

6,163

Total Current liabilities

56,672

52,595226316

of which Other provisions

3,704

3,811

of which Financing liabilities

3,141

2,142

155

140

of which Contract liabilities

25,452

23,869of which Trade liabilities

14,54813,261of which Negative hedge mark-to-market

2,540

3,450

88

0

121,099

115,944of which Non-controlling interestsof which Pensionsof which European Governments’ refundable advances

Liabilities of disposal groups classified as held for sale
Total Liabilities and Equity

Shareholding Structure at 30 September 2023

Free Float
Shareholder Agreement▪ 790,395,611 shares issued at 30 September 2023

29

74.1%
25.8%

SOGEPA

10.9%

GZBV

10.8%

SEPI

4.1%

Treasury Shares

0.2%

Quarterly Revenues Breakdown (Cumulative)IN € MILLION

30

Q1
2023

H1
2022

2023

9m
2022

2023

FY
2022

2023

2022

Airbus

8,110

8,541

20,34917,53331,50726,654

41,428

Helicopters

1,598

1,265

3,194

2,744

4,662

4,515

7,048

Defence and Space

2,299

2,453

4,653

5,056

7,133

7,593

11,259Eliminations

(244)

(259)

(533)

(523)

(742)

(643)

(972)

11,763

12,00027,66324,81042,56038,11958,763

Consolidated Airbus

Quarterly EBIT Adjusted Breakdown (Cumulative)IN € MILLION

31

Q1
2023

H1
2022

2023

9m
2022

2023

FY
2022

2023

2022

Airbus

580

1,065

2,256

2,276

3,216

2,875

4,600

Helicopters

156

90

274

215

417

380

639

Defence and Space

36

106

78

155

(1)

231

384

Eliminations

1

2

10

(1)

(1)

(5)

4

773

1,263

2,618

2,645

3,631

3,481

5,627

Consolidated Airbus

Quarterly EBIT Breakdown (Cumulative)IN € MILLION

32

Q1
2023

H1
2022

2023

9m
2022

2023

FY
2022

2023

2022

Airbus

197

1,242

1,523

2,478

2,306

3,241

4,800

Helicopters

156

90

267

215

410

380

639

Defence and Space

36

95

87

(113)

(3)

(64)

(118)

Eliminations

1

2

10

(1)

(1)

(5)

4

390

1,429

1,887

2,579

2,712

3,552

5,325

Consolidated Airbus

9m 2023 IFRS vs. APM Cash Flow ReconciliationIN € BILLION

Sep. 2023

33

IN € BILLION

Sep. 2023

Cash provided by (used for) operating activities

2.1

Cash provided by (used for) operating activities

2.1

t/o Reimbursement from / contribution to plan assets(0.3)

Cash provided by (used for) investing activities(2.8)

t/o Treasury swaps

0.0

t/o Net proceeds (payment)(0.9)

t/o Change in other operating assets and liabilities(0.9)

Others0.5

Gross Cash Flow from Operations

3.3

Free Cash Flow

0.7

t/o M&A transactions(0.1)

Free Cash Flow before M&A

0.8

t/o Customer Financing(0.3)

FCF before M&A and Customer Financing

1.0

Glossary on Alternative Performance Measures (APM)
This presentation also contains certain “non-GAAP financial measures”, i.e. financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable
measure calculated and presented in accordance with IFRS. For example, Airbus makes use of the non-GAAP measures “EBIT Adjusted”, “EPS Adjusted” and “Free Cash Flow”.
Airbus uses these non-GAAP financial measures to assess its consolidated financial and operating performance and believes they are helpful in identifying trends in its performance. These measuresenhance management’s ability to make decisions with respect to resource allocation and whether Airbus is meeting established financial goals.
Non-GAAP financial measures have certain limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of Airbus’ results as reported under IFRS. Because of
these limitations, they should not be considered substitutes for the relevant IFRS measures.
▪ EBIT: Airbus continues to use the term EBIT (Earnings before interest and taxes). It is identical to Profit before finance cost and income taxes as defined by IFRS Rules.
▪ Adjustment is an alternative performance measure used by Airbus which includes material charges or profits caused by movements in provisions related to programmes, restructuring or foreignexchange impacts as well as capital gains/losses from the disposal and acquisition of businesses.
▪ EBIT Adjusted: Airbus uses an alternative performance measure, EBIT Adjusted as a key indicator capturing the underlying business margin by excluding material charges or profits caused by
movements in provisions related to programmes, restructuring or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses.
▪ EPS Adjusted is an alternative performance measure of a basic EPS as reported whereby the net income as the numerator does include Adjustments. For reconciliation see slide “Detailed Income
Statement and Adjustments”.
▪ Gross cash position: Airbus defines its consolidated gross cash position as the sum of (i) cash and cash equivalents and (ii) securities (all as recorded in the consolidated statement of financial
position).
▪ Net cash position: Airbus defines its consolidated net cash position as the sum of (i) cash and cash equivalents and (ii) securities, minus (iii) financing liabilities, plus or minus (iiii) interest rate
contracts related to fair value hedges (all as recorded in the Consolidated Statement of Financial Position).
▪ Gross cash flow from operations: Gross cash flow from operations is an alternative performance measure and an indicator used by Airbus to measure its operating cash performance beforechanges in other operating assets and liabilities (working capital). It is defined in the Universal Registration Document, MD&A section 2.1.6.1. as cash provided by operating activities, excluding (i)changes in other operating assets and liabilities (working capital), (ii) contribution to plan assets of pension schemes and (iii) realised foreign exchange results on treasury swaps.
▪ Changes in working capital: it is identical to changes in other operating assets and liabilities as defined by IFRS Rules. It is comprised of inventories, trade receivables, contract assets and contract
liabilities (including customer advances), trade liabilities, and other assets and other liabilities.
▪ Free Cash Flow (FCF): For the definition of the alternative performance measure Free Cash Flow, see Universal Registration Document, MD&A section 2.1.6.1. It is a key indicator which allows theCompany to measure the amount of cash flow generated from operations after cash used in investing activities.
▪ FCF before M&A refers to Free Cash Flow as defined in the Universal Registration Document, MD&A section 2.1.6.1. adjusted for net proceeds from disposals and acquisitions. It is an alternative
performance measure and key indicator that reflects FCF excluding those Cash Flows resulting from acquisition and disposal of businesses.
▪ FCF before M&A and Customer Financing refers to Free Cash Flow before mergers and acquisitions adjusted for cash flow related to aircraft financing activities. It is an alternative performancemeasure and indicator that may be used occasionally by the Company in its financial guidance, especially when there is higher uncertainty around customer financing activities.