FY Results
2022
16 February 2023

Guillaume FAURY | Chief Executive Officer
Dominik ASAM
| 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 also note 2 "Ukraine Crisis" of the Notes to the Airbus SE Unaudited Condensed IFRS Consolidated Financial Statements
published 16 February 2023. For more information about the impact of the Macroeconomic Environment, see also note 3 "Macroeconomic Environment” of the Notes to the Airbus SE Unaudited
Condensed IFRS Consolidated Financial Statements published 16 February 2023. For more information about factors that could cause future results to differ from such forward-looking statements, see
Airbus SE's annual reports, including its Report of the Board of Directors, 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 FY Results 2022

FY 2022 Key Topics

 Adverse operating environment

 661 (1) commercial aircraft delivered in FY 2022

 FY 2022 financials:
 EBIT Adjusted of € 5.6 bn; EBIT reported of € 5.3 bn
 FCF before M&A and Customer Financing of € 4.7 bn

 Dividend proposal: € 1.80 per share(1) After 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

4

FY 2022 Commercial Positioning

5

Airbus Commercial Aircraft

Consolidated Airbus

Consolidated Airbus

Order Book in units by Programme

Order Book in value by Region

External Revenue by Division

7,239 units

A220

7%

Europe31%

Airbus

69%

A320

84%

Asia Pacific29%

Helicopters

11%

A330

3%

€ 449 bn

North America

22%€ 58.8 bn

19%

A350

6%

t/o defence€ 47 bn

Middle East

8%

t/o defence€ 11.5 bn

Defence andSpace

Latin America

5%

Other

6%

 AIRBUS: Gross orders: 1,078 a/c; Net orders: 820 a/c; Backlog: 7,239 a/c
 HELICOPTERS: 362 net orders of which 12 H160, and the Tiger MKIII upgrade programme DEFENCE AND SPACE: Order intake € 13.7 bn, including Eurodrone, FCAS Demonstrator Phase 1B and 20 Eurofighters for the Spanish Air ForceFY 2022 Financial Performance
Revenues

6

EBIT Adjusted

in € bnin € bn / RoS (%)

9.6%
9.3%

58.8

52.1

FY 2021

4.9

FY 2021

FY 2022

5.6

FY 2022

EPS(1) Adjusted

FCF before M&A and Customer Financing

in €in € bn

FY 2021

4.7

5.15

4.33

3.5

FY 2022(1) FY 2022 Average number of shares: 787,080,579 compared to 785,326,074 in FY 2021
Capitalised R&D: € 319 m in FY 2022 and € 152 m in FY 2021

FY 2021

FY 2022

FY 2022 Profitability

7

EBIT Performance FY 2022 EBIT Reported of € 5,325 m

in € bn

 FY 2022 EBIT Adjustments resulting from:

4.9

5.6

EBIT Adjusted
FY 2021

5.3

5.3

EBIT Reported
FY 2022

 € +

308 m

PDP mismatch / BS revaluation

 € +

28 m

A380 programme €- 477 m

A400M charge

 €

-

82 m

Aerostructures transformation

 €

-

79 m

Others FY 2022 Net Adjustments of € - 302 m

EPS(1) Performancein € FY 2022 Net Income of € 4,247 m
 FY 2022 Net Income Adjusted of € 4,055 m
4.33

5.15

EPS Adjusted
FY 2021(1) FY 2022 Average number of shares: 787,080,579 compared to 785,326,074 in FY 2021
Capitalised R&D: € 319 m in FY 2022 and € 152 m in FY 2021

5.36

5.40

EPS Reported
FY 2022

USD Exposure Coverage

8

Forwards & Euro Conversion as of Dec. 2022

IN $ BILLION

Forwards & Euro Conversion as of Dec. 2021

23.7

23.2

20.3
18.0
12.8

12.4

3.7

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

2022

2023

2024

2025

2026

2027

2028

1.22

1.21

1.23

1.24

1.28

1.27

1.22

( 1.22 in Dec. 21 )( 1.23 in Dec. 21 )( 1.24 in Dec. 21 )( 1.26 in Dec. 21 )( 1.30 in Dec. 21 )( 1.33 in Dec. 21 )( 1.31 in Dec. 21 )Mark-to-market of FX hedging instruments incl. in AOCI = € - 7.8 bn
Closing rate @ 1.07 € vs. $ In FY 2022, $ 20.3bn(2) of forwards matured and Euro conversion realised at an average blended rate (1) of € 1 = $ 1.22.
 $ 16.4 bn(2) of new USD coverage were added at an average blended rate(1) of € 1 = $ 1.16.
 Forwards and Euro conversion portfolio(2) as of 31 December 2022 at $ 93.9 bn, at an average blended rate(1) of $ 1.24 (vs. $ 98.3 bn in December 2021 at $ 1.25).

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.

FY 2022 Cash Evolution9IN € BILLION
+1.4

-2.4
-0.2

-1.2

+5.5

7.7

-1.4

9.4

Free Cash Flow before M&A: € + 4.5 bn
t/o Customer Financing € - 0.1 bn
Free Cash Flow before M&A andCustomer Financing: € + 4.7 bn

Net Cash Position (1)December 2021

Gross Cash Flowfrom Operations

Change in
Working Capital

Cash used for (2)investing activities
before M&A

M&A (3)(1) The Company has decided to refine the net cash definition to include interest rate contracts related to fair value hedges which is also reflected in the FY 2022 balance(2) Thereof CapEx of € - 2.5 bn(3) M&A transactions include acquisitions and disposals of subsidiaries and businesses

Shareholder Return

Pensions & Others

Net Cash Position (1)December 2022

Divisions
Highlights

Airbus FY Results 2022

11IN € MILLION
Order Intake (net)

Units

Order Book
Order Intake (net)

Value

Order Book
Deliveries

Units

FY 2022

FY 2021

Change

820

507

61.7%

7,239

7,082

2.2%

59,72740,004

390,456

345,101

661

(1)

611

Revenues

41,42836,164R&D Expenses

2,607

2,252

6.3%

6.2%

4,600

3,570

11.1%

9.9%

4,800

4,175

11.6%

11.5%

in %of Revenues

EBIT Adjusted
in %of Revenues

EBIT
in %of Revenues(2)

Deliveries by Programme (Units)
A220

8%

A320

78%

49.3%

A330

5%

13.1%

A350

9%

Platforms

92%

Services

8%

8.2%
14.6%
15.8%
28.9%
15.0%

 Deliveries: 661 (1) aircraft comprising 53 A220, 516 A320 Family, 32 A330 and 60 A350
 Revenues mainly reflect higher deliveries and U.S. Dollar strengthening
 EBIT Adjusted mainly reflects deliveries and non-recurring impacts(1) After 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 A330 delivered on operating lease
Capitalised R&D: € 173 m in FY 2022 and € 2 m in FY 2021

External Revenue Split

HelicoptersIN € MILLION12

FY 2022

FY 2021

Change362414-12.6%

757

739

2.4%

9,338

8,552

9.2%

20,774

17,985

15.5%

344

338

1.8%

7,048

6,509

8.3%

R&D Expenses

275

275

in %of Revenues

3.9%

4.2%

EBIT Adjusted

639

535

in %of Revenues

9.1%

8.2%

EBIT

639

535

in %of Revenues

9.1%

8.2%

Order Intake (net)

Units

Order Book
Order Intake (net)

Value

Order Book
Deliveries
Revenues

Units Revenues reflect growth in services and favourable mix in programmes
 EBIT Adjusted reflects higher services and programme execution

Capitalised R&D: € 0 m in FY 2022 and € 0 m in FY 2021

External Revenue Split
Civil

44%

Defence

56%

Platforms

55%

Services

45%

0.0%
19.4%
19.4%

Defence and Space

13

External Revenue Split
IN € MILLION

FY 2022

FY 2021

ChangePlatforms

67%

Order Intake (net)

13,66013,6560.0%

Services

33%

Order Book

38,42636,131

6.4%

Revenues

11,25910,186

10.5%

R&D Expenses

266

249

in %of Revenues

2.4%

2.4%

EBIT Adjusted

384

696

in %of Revenues

3.4%

6.8%

(118)

568

-1.0%

5.6%

EBIT
in %of Revenues

6.8%-44.8%
N/A Revenues increase mainly driven by higher volume in Military Aircraft and Eurodrone
 EBIT Adjusted decrease mainly due to Pleiades Neo satellites and Ariane 6 impairments, and the impact ofinflation, partially offset by the positive impact related to retirement obligations and Eurodrone A400M: 10 a/c delivered in FY 2022

Capitalised R&D: € 146 m in FY 2022 and € 150 m in FY 2021

Military Aircraft

53%

Space Systems

24%

Connected Intelligence& Others

23%

Guidance
Highlights

Airbus FY Results 2022

2023 Guidance

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 FY Results 2022

Dividend per Share

18

IN €
[ 1.80 (3) ]
1.65
1.50

1.50

 Ex-dividend date: Tuesday 25 April 2023

 Record date: Wednesday 26 April 2023

 Payment date: Thursday 27 April 2023
40%

42%
0.00

FY 2017

FY 2018(1)

FY 2019

0.00(2)

FY 2020

Payout Ratio(1) FY 2019: dividend proposal of € 1.80 per share revoked following the COVID-19 outbreak(2) FY 2020: no dividend proposed for 2020
(3) Board proposal to be submitted to the AGM 2023. Subject to AGM approval

28%

FY 202133%

FY 2022

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

1.28

Average
Blended Rates

1.26
1.24

1.24

1.25

(1)

1.24

1.23

(2)

1.23

1.21

FY 2022

1.22

FY 2023E

1.21

1.22

1.22

1.20

FY 2021

1.21

1.18

1.21

1.20
1.19

1.19

Q2

Q3

1.16

1.16

1.14
Q1

2021

2022

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) Q4 actual

Q4

2023E

19

FY 2022 Detailed Income Statement and Adjustments

20

thereof Adjustments
Impact on EBITIN € MILLION

FY 2022
Reported

Operational

FX

AirbusDefenceand Space(1)Helicopters

Airbus + Defence
and Space(2)

(134)

(476)

0

308

Financial
ResultFY 2022
Adjusted

EBIT

5,325

in % of Revenues

9.1%

9.6%

Interest income

180

180

Interest expense

(412)

(412)

Other Financial Result

(18)

(26)

8

Financial Result

(250)

(26)

(224)

Income before taxes

5,075

(26)

5,403

Non-controlling interests

111

111

4,247

4,055

787,080,579

787,080,579

5.40

5.15

Net Income
Number of shares
EPS (in €)

5,627

(134)

(476)

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 19%.

(1) Thereof € - 477 m A400M programme update(2) Thereof € + 334 m Airbus, € - 26 m Defence and Space308

FY 2021 Detailed Income Statement and Adjustments

21

thereof Adjustments
Impact on EBITIN € MILLION

FY 2021
Reported

Operational

FX

AirbusDefenceand Space(1)Helicopters

Airbus + Defence
and Space(2)

609

(94)

0

(38)

Financial
ResultFY 2021
Adjusted

EBIT

5,342

in % of Revenues

10.2%

9.3%

Interest income

8888Interest expense

(334)

(334)

Other Financial Result

(69)

(50)

(19)

Financial Result

(315)

(50)

(265)

Income before taxes

5,027

(50)

4,600

Non-controlling interests

39

39

4,213

3,397

785,326,074

785,326,074

5.36

4.33

Net Income
Number of shares
EPS (in €)

4,865

609

(94)

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 17%.

(1) Thereof € - 212 m A400M programme update(2) Thereof € - 4 m Airbus, € - 34 m Defence and Space(38)

Liquidity as of 31 December 2022

22

RSCF:

€ 8.0 bn Signed 5th July 2022 with a 5 years tenor + 2

extension options of 1 year; undrawn
 Fully committed by 38 banks
 No financial covenants, no MAC clause Sustainability-Linked

Credit Facility (RSCF)€ 14.2 bn

Financing Liabilities:

Total Gross Debt
€ 23.6 bn(1)Incl. interest rate
contractsof which long-term: € 10.6 bn
 Includes € 8.0 bn EMTN and$ 2.3 bn 144A/RegS & USPP (nominal amounts)

Total Gross CashInvested inhighly rated securities

Credit Ratings:

Short-term rating: S & P:
A-1
 Moody’s:
P-1€ 9.4 bn

Net Cash(2)(1) The FY 2022 Gross Debt includes financing liabilities for € 12.8 bn and interest rate contracts related to fair value hedges for € 1.4 bn(2) The Company has decided to refine the net cash definition to include interest rate contracts related to fair value hedges which is also reflected in the FY 2022 balanceLong-term rating: S & P:A stable outlook
 Moody’s:
A2 stable outlook

Q4 2022 Key FiguresIN € MILLION

23

Q4 2022

Q4 2021

Revenues

20,644

16,994

EBIT Adjusted

2,146

1,496

EBIT

1,773

1,905

Net Income

1,679

1,578

FCF before M&A

1,925

1,221

FCF before M&A and Customer Financing

1,781

1,255

IN € MILLION
Q4 2022

Q4 2021

Revenues

Q4 2022

Q4 2021

Q4 2022

EBIT Adjusted

Q4 2021
EBIT

Airbus

14,774

11,546

1,725

831

1,559

1,286

Helicopters

2,533

2,372

259

221

259

223

Defence and Space

3,666

3,305

153

412

(54)

364

Eliminations

(329)

(229)

9

32

9

32

20,644

16,994

2,146

1,496

1,773

1,905

Consolidated Airbus

Detailed Free Cash FlowIN € MILLION24

FY 2022

FY 2021

7,740

4,724

5,512

4,078

1,421

984

(2,609)(1,551)(2,464)(1,928)

Free Cash Flow (6)

4,324

3,511

of which M&A

(210)

(32)

4,534

3,543

(146)

28

4,680

3,515

Change in capital and non-controlling interests

145

138

Change in treasury shares / share buyback

(36)

(22)

Change in liability for puttable instruments

135

0Contribution to plan assets of pension schemes

(601)

(533)

Cash distribution to shareholders / non-controlling interests(1,181)0

Others(1,095)

(78)

9,431

7,740

Net Cash position at the beginning of the period (1)Gross Cash Flow from Operations
Change in working capital

(2)

(3)

Cash used for investing activities(4)of which Industrial CapEx (additions)(5)Free Cash Flow before M&Aof which Customer Financing
Free Cash Flow before M&A and Customer Financing

Net Cash position at the end of the period(1) The Company has decided to refine the net cash definition to include interest rate contracts related to fair value hedges which is also reflected in the FY 2022 balance(2) Excluding working capital change, contribution to plan assets of pension schemes and realised FX results on treasury swaps(3) Including net customer financing and excluding some perimeter change impacts from changes in consolidation(4) Excluding change in securities and change in cash from changes in consolidation and excluding bank activities(5) Excluding leased and financial assets(6) Excluding change in securities, change in cash from changes in consolidation, contribution to plan assets, realised FX results on treasury swaps and bank activities

Net Cash PositionIN € MILLION

25

Dec. 2022

Dec. 2021

Gross Cash

23,59822,683Financing Liabilities(12,773)(15,040)

Short-term Financing Liabilities(2,142)(1,946)Long-term Financing Liabilities(10,631)(13,094)

Interest rate contracts(1,394)

97

Reported Net Cash (1)

9,431

7,740

(1) The Company has decided to refine the net cash definition to include interest rate contracts related to fair value hedges which is also reflected in the FY 2022 balanceCustomer Financing ExposureIN € MILLION

26

Dec. 2022

Dec. 2021

AirbusClosing rate € 1 =Dec. 2022

Dec. 2021

Helicopters$ 1.07$ 1.13$ 1.07$ 1.13

312

364

33

58

of which off-balance sheet

6

41

2

26

Estimated value of collateral

(262)

(282)

(33)

(58)

Net Exposure

50

82

0

0

Provision and asset impairment

(50)

(82)

0

0

0

0

0

0

Total Gross Exposure

Net Exposure after provisionAirbus Customer Financing

27

IN € BILLION
AdditionsAirbus Customer
Financing Gross
Exposure

0.8

0.6

0.8

0.3

1.0
0.6

0.5

Amortization
0.9

0.8

Net change
0.7

0.6

0.1
(0.2)

(0.2)
(1.1)

Sell Down

(0.1)

(0.1)

(0.7)

(0.7)

(0.3)
(0.7)

(0.7)

(0.6)

(0.5)

(0.7)

(0.6)

(0.1)
(0.2)

(0.1)

(0.1)

(0.2)

(0.1)

(0.2)

(0.1)

0.3

0.3

(0.3)

(0.4)

(0.4)

(0.1)

(0.1)

(0.0)

0.2

0.0

(0.2)
(0.1)

(0.2)

(0.1)

Gross Exposurein $ bn

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

1.5

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

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)

Net Exposure fully provisioned

Gross
Exposure€ 0.3 bn($ 0.3 bn)

Net Exposure € 0.1 bn
Estimated
Collateral€ 0.3 bn($ 0.3 bn)

31 December 2021

31 December 2022€/$ = 1.13€/$ = 1.07

Balance Sheet Highlights: Assets
IN € MILLION

28

Dec. 2022

Dec. 2021

Non-current Assets (1)52,942

51,353of which Intangible & Goodwill

16,76816,367of which Property, plant & equipment

16,505

16,536of which Investments & other long-term financial assets

6,257

5,673

of which Contract assets

26

27

of which Positive hedge mark-to-market

753

664

of which Non-current securities

6,013

6,794

Current Assets (1)63,002

55,694of which Inventory

32,20228,538of which Contract assets

1,501

1,377

of which Cash and cash equivalents

15,823

14,572of which Current securities

1,762

1,317

of which Positive hedge mark-to-market

1,141

341

0

0

115,944

107,047

1.07

1.13

Assets of disposal groups classified as held for sale
Total Assets

Closing rate € vs. $(1) 2021 figures restated in accordance with 2022 presentation.

Balance Sheet Highlights: Liabilities29

IN € MILLION

Dec. 2022

Dec. 2021

Total Equity

12,9829,486

of which AOCI (Accumulated Other Comprehensive Income)(5,016)(1,822)32

20

Total Non-current liabilities

50,36749,754of which Pensions

3,193

6,659

of which Other provisions

3,703

4,112

of which Financing liabilities

10,631

13,094of which European Governments’ refundable advances

3,717

3,730

of which Contract liabilities

22,044

18,620of which Negative hedge mark-to-market

6,163

2,640

Total Current liabilities

52,59547,807316

413

of which Other provisions

3,811

4,097

of which Financing liabilities

2,142

1,946

140

131

of which Contract liabilities

23,86923,906of which Trade liabilities

13,261

9,693

of which Negative hedge mark-to-market

3,450

1,923

0

0

115,944

107,047of 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 31 December 2022

Free Float
Shareholder Agreement
SOGEPA 788,205,008 shares issued at 31 December 2022

30

74.1%
25.9%
10.9%

GZBV

10.9%

SEPI

4.1%

Treasury Shares

0.1%

Quarterly Revenues Breakdown (Cumulative)IN € MILLION

31

Q1
2022

H1
2021

2022

9m
2021

2022

FY
2021

2022

2021

Airbus

8,541

7,272

17,533

17,81326,654

24,61841,42836,164

Helicopters

1,265

1,177

2,744

2,594

4,515

4,137

7,048

6,509

Defence and Space

2,453

2,115

5,056

4,538

7,593

6,881

11,25910,186

Eliminations

(259)

(104)

(523)

(308)

(643)

(481)

(972)

(710)

12,00010,46024,81024,637

38,11935,15558,76352,149Consolidated Airbus

Quarterly EBIT Adjusted Breakdown (Cumulative)IN € MILLION

Q1
2022

Airbus

32

H1
2021

2022

9m
2021

2022

FY
2021

2022

2021

1,065

533

2,276

2,291

2,875

2,739

4,600

3,570

Helicopters

90

62

215

183

380

314

639

535

Defence and Space

106

59

155

229

231

284

384

696

2

40

(1)

0

(5)

32

4

64

1,263

694

2,645

2,703

3,481

3,369

5,627

4,865

Eliminations
Consolidated Airbus

Quarterly EBIT Breakdown (Cumulative)IN € MILLION

Q1
2022

Airbus

33

H1
2021

2022

9m
2021

2022

FY
2021

2022

2021

1,242

343

2,478

2,387

3,241

2,889

4,800

4,175

Helicopters

90

62

215

183

380

312

639

535

Defence and Space

95

17

(113)

157

(64)

204

(118)

568

Eliminations

2

40

(1)

0

(5)

32

4

64

1,429

462

2,579

2,727

3,552

3,437

5,325

5,342

Consolidated Airbus

FY 2022 IFRS vs. APM Cash Flow ReconciliationIN € BILLION

Dec. 2022

34

IN € BILLION

Dec. 2022

Cash provided by (used for) operating activities

6.3

Cash provided by (used for) operating activities

6.3

t/o Reimbursement from / contribution to plan assets(0.6)

Cash provided by (used for) investing activities(3.1)

t/o Treasury swaps(0.0)

t/o Net proceeds (payment)(0.3)

t/o Change in other operating assets and liabilities

1.4

Others0.8

Gross Cash Flow from Operations

5.5

Free Cash Flow

4.3

t/o M&A transactions(0.2)

Free Cash Flow before M&A

4.5

t/o Customer Financing(0.1)

FCF before M&A and Customer Financing

4.7

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.
 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 the Company 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 indicator that is important in order to measure FCF excluding those cash flows from the 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.