H1 Results 2024
30 July 2024-

Guillaume FAURY
Thomas TOEPFER| Chief Executive Officer| 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 lingering effects of the COVID-19 pandemic; and▪ 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 and the impact of the Macroeconomic Environment, see note 2 “Geopolitical and Macroeconomic Environment" of the Notes to the
Airbus SE Unaudited Condensed Interim IFRS Consolidated Financial Statements for the six-month period ended 30 June 2024 published 30 July 2024 (the “Financial Statements”). For more
information about factors that could cause future results to differ from such forward-looking statements, please refer to Airbus SE’s most recent annual reports, including the Report of the Board of
Directors, the Financial Statements and the Notes thereto, the 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 statement 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.

2

01.

Company
Highlights

4

H1 2024 Key Topics
Degraded operating environmentand specific supply chain challenges

Financials€ 1.4 bn

323

EBIT Adjusted

Commercial aircraft delivered€ 1.5 bn
EBIT Reported

Guidance as per
June update€ - 0.5 bn
FCF before Customer Financing

5

Focus on Space Systems
2024 Charges. What happened:

Further enhancement of transformation plan:

New Space Systems management launched extensive technical reviews:▪

Full bottom-up with high level of granularity (except one major programme)▪

Risks sizing & timeline re-assessments

EACs update breakdown:

Changing market conditions: increased competition and disruptive new players.
Unbalanced risk and rewards in contracts signed between 2018 and 2021.

•

Bid excellence / higher technological maturity threshold•

Strengthened and enlarged governance & ownership•

Enhanced controlling & programmes’ organisation•

Costs containment launched•

Mid-term competitiveness plan: engineering,procurement and operations•

Evaluate all strategic options: restructuring, portfolio
review, cooperation and M&A

Strengthened profitability focus
and improved backlog execution.

6

Focus on Commercial aircraft ramp-up
Operations

Procurement

Production

Final Assembly
Lines

Aerostructures
Ramp-up assessment performed at
all levels of the supply chain andassociated action plans to secure therate readiness

Extended commitment horizon on
certain suppliers and on site supply
chain experts to support operations

Dedicated task forces in place toanticipate and mitigate the degradedgeopolitical context

Airbus Atlantic & Airbus
Aerostructures transformation
since 2022

7

Focus on current supply chain tensions* Joint Improvement PlanEnginesCabin &
equipment

Spirit AeroSystems

2024 & 2025
volumes alignedwith Engines
manufacturers

Cabin supplierreadiness teamand JIP* withequipment suppliers

Binding term sheet
signed for potential
acquisition of major
Airbus related activities

8

H1 2024 Commercial Positioning
H1 2024
Order Intake(net)

H1 2023

Change310

1,044-70.3%

8,585

7,967

7.8%

AirbusAirbus:Good commercial
momentum on
Widebody aircraft(in units)

Order Book

Order Intake
(net)

233

131

77.9%

913

743

22.9%

Helicopters

Helicopters:
New orders include 38
H225 helicopters for theGerman Federal Police(in units)

Order Book

Defenceand Space(in € m)Order Intake
(net)

6,059

6,038

0.3%

Defence and Space:
New orders include
Air Power Services
and contract wins inSpace Systems

9

H1 2024 Financial Performance
Revenues

Revenues by Division (1)R&D

in € bnin %in € bn

Helicopters
11%

Airbus
72%

27.7

28.8

€ 28.8 bn

1.4

1.6

t/o defence€ 5.2 bn

H1 2023(1) Breakdown based on External Revenues

H1 2024

H1 2023

Defence and Space17%

H1 2024

10

H1 2024 Profitability
EBIT Adjusted

EBIT Reportedin € bnin € bn

9.5%

EBIT Adjustments of € + 65 m:

6.8%

5.1%

• € + 19 m $ Working Capital mismatch andBalance Sheet revaluation• € + 51 m

4.8%

2.6

1.9
1.5

• €-

Airbus OneWeb Satellites gain

5 m Others

1.4

H1 2023

H1 2023

H1 2024

EPS Adjusted (1)EPS Reported (1)

in €

in €

H1 2024

EBIT to Net Income:• Financial Result of € - 108 m• Income Taxes of € - 615 m

2.47
1.38

H1 2023• Net Income of € 825 m

1.94

H1 2024(1) H1 2024 Average number of shares: 789,675,929 compared to 788,453,538 in H1 2023

1.04
H1 2023

H1 2024

11

USD Exposure Coverage
IN $ BILLION

Forwards & Euro
Conversion as ofJun. 2024

10.4

Forwards & Euro
Conversion as ofDec. 2023

23.1
20.2
16.6

13.1

13.8

4.2

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

2024
Remaining 6 months

2025

2026

2027

2028

2029

1.21

1.20

1.22

1.25

1.22

1.17

( 1.21 in Dec. 23 )( 1.22 in Dec. 23 )( 1.24 in Dec. 23 )( 1.26 in Dec. 23 )( 1.23 in Dec. 23 )( 1.16 in Dec. 23 )Mark-to-market of FX hedging instrumentsincl. in AOCI = € - 5.7 bn
Closing rate @ 1.07 € vs. $• In H1 2024, $ 10.4bn(2) of forwards matured and Euro conversion realised at an average blended rate(1) of € 1 = $ 1.21.
• $ 9.5 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 June 2024 at $ 90.9 bn, at an average blended rate(1) of $ 1.22 (vs. $ 91.7 bn in December 2023 at $ 1.23).
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.

12

H1 2024 Cash Evolution
IN € BILLION

-1.6

+2.1

-1.3
+0.2
-2.2
-0.0

10.7

Free Cash Flow (1): € - 0.6 bn

7.9

FCF before Customer Financing (1): € - 0.5 bn[H1’23: € + 1.6 bn](2)

Net Cash Position
December 2023

Gross Cash Flowfrom Operations

Change in
Working CapitalIndustrial CapEx(additions)(1) Customer Financing of € - 0.0 bn(2) Includes proceeds from disposals of intangible and fixed assets & Dividends paid by companies valued at equity

Other FCF

Shareholder
ReturnPensions& Others

Net Cash Position
June 2024

02.

Divisional
Highlights

14

AirbusIN € MILLION

H1 2024

H1 2023

Change310

1,044-70.3%

8,585

7,967

7.8%

323

316

2.2%

21,215

20,3494.3%

Deliveries by Programme(% of units delivered)Order Intake (net)
Order Book
Deliveries

Units
Units

Revenues
R&D Expenses

1,301

1,196

in % of Revenues

6.1%

5.9%

EBIT Adjusted

1,954

2,256

in % of Revenues

9.2%

11.1%

1,972

1,523

9.3%

7.5%

EBIT
in % of Revenues

A320
81%

A330
4%
A350
6%

8.8%
-13.4%

A220
9%

29.5%

External Revenue Split
Services11%

Highlights• Deliveries: 323 aircraft comprising 28 A220, 261 A320 Family, 13 A330 and 21 A350.
• Revenues mainly reflect higher deliveries.
• EBIT Adjusted mainly reflects deliveries, offset by investments for preparing the future.

Platforms
89%

15

Airbus HelicoptersIN € MILLION

H1 2024

H1 2023

Change

233

131

77.9%

913

743

22.9%

124

145

-14.5%

Revenues
R&D Expenses

3,191

3,194

-0.1%

155

145

in % of Revenues

4.9%

4.5%

Order Intake (net)
Order Book
Deliveries

Units
Units

EBIT Adjusted

230

274

in % of Revenues

7.2%

8.6%

EBIT

230

267

in % of Revenues

7.2%

8.4%

External Revenue Split

Civil
51%

6.9%
-16.1%

Defence49%-13.9%

Services
54%

Highlights• Revenues reflects lower deliveries, offset by Services.
• EBIT Adjusted reflects deliveries and programmes mix.

Platforms
46%

16

Airbus Defence and SpaceIN € MILLION

H1 2024

H1 2023

ChangeOrder Intake (net)

6,059

6,038

0.3%

Revenues
R&D Expenses

4,985

4,653

7.1%

150

96

in % of Revenues

3.0%

2.1%

EBIT Adjusted

(807)

78

in % of Revenues-16.2%

1.7%

EBIT

(760)

87

in % of Revenues-15.2%

1.9%

External Revenue Split
Services
38%

56.3%
N/A
Platforms
62%

N/A

Connected Intelligence& Others
16%

Highlights• Revenues increase mainly driven by Air Power, partly offset by the recent update of Estimates atCompletion in Space Systems.
• EBIT Adjusted reflects charges of € 989 m mainly linked to the updated Estimates at Completion.
• A400M: 4 a/c delivered in H1 2024.

Space Systems
18%

Air Power
66%

03.

Guidance
Highlights

182024 Guidance

As the basis for its 2024 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 2024 guidance is before M&A.

On that basis, the Company targets to achieve in 2024:

Around770

Around€ 5.5commercial
aircraft deliveries

EBIT Adjusted

Around€ 3.5 bn
Free Cash Flow
before Customer
Financing

19

Key Priorities

Continue to deliveron ourcommercial
aircraft ramp-up

Successfully
manage thetransformation of
Airbus Defence
and Space

Leverage
digitalisation &lead thedevelopment ofsustainableaerospace

Maintain thestrongcommercial
positioning acrossbusinesses

Focus onprofitable growthAppendix.

H1 2024

Expected Average Blended Rates for Forwards and Euro Conversion € vs. $21

Active exposure management

1.24

Average
Blended Rates

1.23

1.22

1.20

FY 2024E

1.21

1.22

1.22
1.21

1.20

1.20

1.20

(1)

1.20

1.18
1.18

1.16
Q1

FY 2023

Q2

Q3

2023

2024E

Blended rates reflect both EBIT impact of hedge rates of the US$ hedge portfolio and Euro conversion(1) Q2 actual

Q4

22

H1 2024 Detailed Income Statement and Adjustments
thereof Adjustments
Impact on EBITIN € MILLION

H1 2024
Reported

Operational

FX

AirbusDefenceand Space(1)Helicopters

Airbus + Defence
and Space(2)

(11)

57

0

19

Financial
ResultH1 2024
Adjusted

EBIT

1,456

1,391

in % of Revenues

5.1%

4.8%

Interest income

399

399

Interest expense

(428)

(428)

Other Financial Result

(79)

(80)

1

Financial Result

(108)

(80)

(28)

Income before taxes

1,348

(80)

1,363

(11)

57

0

19

Non-controlling interests

92

92

Net Income

825

1,087

789,675,929

789,675,929

1.04

1.38

Number of shares
EPS (in €)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 46%.

(1) Thereof € - 3 m A400M programme update(2) Thereof € 29 m Airbus, € - 10 m Defence and Space23

H1 2023 Detailed Income Statement and Adjustments
thereof Adjustments
Impact on EBITIN € MILLION

H1 2023
Reported

Operational

FX

AirbusDefenceand Space(1)Helicopters

Airbus + Defence
and Space(2)

(74)

1

(7)

(651)

Financial
ResultH1 2023
Adjusted

EBIT

1,887

in % of Revenues

6.8%

9.5%

Interest income

278

278

Interest expense

(336)

(336)

Other Financial Result

160

157

3

Financial Result

102

157

(55)

157

2,563

Income before taxes

1,989

Number of shares

(74)

1

(7)

74

1,526

1,945

788,453,538

788,453,538

1.94

2.47

EPS (in €)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 27%.

(1) Thereof € + 2 m A400M programme update(2) Thereof € - 659 m Airbus, € + 8 m Defence and Space

(651)

74

Non-controlling interests
Net Income

2,618

24

Liquidity as of 30 June 2024

RSCF

€ 8.0 bn

• Signed on July 5, 2022
• 2nd extension option of 1 year exercised in June 2024 andapproved by all lenders: the full €8bn line is committed until
July 5, 2029
• Fully committed by 38 banks• No financial covenants, no MAC clause• Sustainability-Linked

Credit Facility (RSCF)€ 13.9 bn
Total Gross Debt
€ 21.9 bn

Incl. interest rate
contracts

Financing Liabilities include bonds*(1)• € 7.2 bn EMTN
• $ 1.5 bn 144A/RegS• $ 0.8 bn USPP
*nominal amounts

Total Gross CashInvested inhighly rated securities

Credit Ratings
Short-term rating:€ 7.9 bn
Net Cash(1) The H1 2024 Gross Debt includes financing liabilities for € 12.9 bn and interest rate contracts related to fair value hedges for € 1.1 bn• S & P:
• Moody’s:

A-1
P-1

Long-term rating:• S & P:
• Moody’s:

A stable outlook
A2 positive outlook

25

Q2 2024 Key FiguresIN € MILLION

Q2 2024

Q2 2023

15,995

15,900EBIT Adjusted

814

1,845

EBIT

847

1,497

Net Income

230

1,060

FCF before Customer Financing

1,262

2,511

FCF

1,240

2,466

RevenuesIN € MILLION

Q2 2024

Q2 2023

Revenues

Q2 2024

Q2 2023

Q2 2024

EBIT Adjusted

Q2 2023
EBIT

Airbus12,048

12,239

1,447

1,676

1,472

1,326

Helicopters

1,730

1,596

159

118

159

111

Defence and Space

2,586

2,354

(798)

42

(790)

51

Eliminations

(369)

(289)

6

9

6

9

Consolidated Airbus

15,995

15,900

814

1,845

847

1,497

26

Detailed Free Cash FlowIN € MILLION

H1 2024

H1 2023

Net Cash position at the beginning of the period

10,726

9,431

Gross Cash Flow from Operations (1)

2,127

1,859

Change in working capital (2)(1,615)647

Investments in intangible and fixed assets (net)& Dividens paid by companies valued at equity(1,071)(913)(1,315)(1,090)

(559)

1,593

(30)

(42)

(529)

1,635

Change in other Investing cash flow

(181)

(359)

Change in capital and non-controlling interests

118

140

Change in treasury shares / share buyback

215

(83)

Change in liability for puttable instruments

0

138

(176)

(201)

(2,215)(1,421)

6

(174)

7,934

9,064

of which Industrial CapEx (additions) (3)Free Cash Flow

(4)of which Customer Financing
Free Cash Flow before 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(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 leased and financial assets(4) Excluding change in securities, change in cash from changes in consolidation, contribution to plan assets, realised FX results on treasury swaps and bank activities

27

Net Cash PositionIN € MILLION

June 2024

Dec. 2023

Gross Cash

21,87525,278Financing Liabilities(12,878)(13,591)

Short-term Financing Liabilities(3,113)(3,389)Long-term Financing Liabilities(9,765)(10,202)

Interest rate contracts(1,063)(961)

Reported Net Cash

7,934

10,726

28

Customer Financing ExposureIN € MILLION

June 2024

Dec. 2023

AirbusClosing rate € 1 =June 2024

Dec. 2023

Helicopters$ 1.07$ 1.11$ 1.07$ 1.11

346

312

18

19

6

6

2

2

(294)

(252)

(18)

(19)

Net Exposure

52

60

0

0

Provision and asset impairment

(52)

(60)

0

0

Net Exposure after provision

0

0

0

0

Total Gross Exposureof which off-balance sheet
Estimated value of collateral

29

Airbus Customer Financing

AdditionsAirbus Customer
Financing Gross
Exposure in $ bn

1.0
0.6

0.8

0.5

(0.1)

0.8

(0.7)

Net change

0.7
0.1

(0.3)
(0.7)

0.9

Amortization

0.6

0.6

(0.2)

Sell Down

(0.7)

(0.7)

(0.6)

(0.5)

(0.7)

0.3

0.3

(0.3)

(0.4)

(0.4)

(0.1)

(0.1)

(0.1)

(0.0)

0.2

0.0

(0.2)
(0.6)

(0.1)

Gross Exposurein $ bn

(0.2)

(0.1)

2009

2010

2011

1.8

1.7

1.4

Net Exposure
fully provisioned€ 0.3 bn($ 0.3 bn)

(0.2)

0.1

(0.1)
(0.0)

(0.0)
(0.0)

(0.2)

(0.1)

(0.2)

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

1.5

1.6

1.3

1.5

1.7

1.5

0.9

0.8

0.5

0.4

0.3

0.3

0.4

Net Exposure € 0.1 bn

Gross
Exposure

(0.1)

0.1

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

Net Exposure
fully provisioned

Net Exposure € 0.1 bn

Gross
Exposure€ 0.3 bn($ 0.4 bn)

Estimated
Collateral€ 0.3 bn($ 0.3 bn)

31 December 2023

30 June 2024€/$ = 1.11€/$ = 1.07

30

Balance Sheet Highlights: Assets
IN € MILLION

June 2024

Dec. 2023

Non-current Assets

56,89254,870of which Intangible & Goodwill

17,12916,929of which Property, plant & equipment

17,574

17,201of which Investments & other long-term financial assets

6,889

6,947

of which Contract assets

62

26

of which Positive hedge mark-to-market

618

897

of which Non-current securities

8,492

7,508

Current Assets

66,09563,948of which Inventory

39,47733,741of which Contract assets

1,334

1,823

of which Cash and cash equivalents

10,92816,469of which Current securities

2,455

1,301

of which Positive hedge mark-to-market

262

330

Assets of disposal groups classified as held for sale

53

53

123,040

118,871

1.07

1.11

Total Assets
Closing rate € vs. $31

Balance Sheet Highlights: Liabilities
IN € MILLION

June 2024

Dec. 2023

Total Equity

16,58017,730of which AOCI (Accumulated Other Comprehensive Income)(3,108)(2,305)35

35

Total Non-current Liabilities

47,35247,391of which Pensions

1,903

2,405

of which Other provisions

3,287

3,262

of which Financing liabilities

9,765

10,202of which European Governments’ refundable advances

3,683

3,671

of which Contract liabilities

24,50723,961of which Negative hedge mark-to-market

3,380

2,859

Total Current Liabilities

59,03453,676242

310

of which Other provisions

3,940

3,851

of which Financing liabilities

3,113

3,389

175

185

of which Contract liabilities

28,35824,537of which Trade liabilities

14,384

14,323of which Negative hedge mark-to-market

2,086

1,891

74

74

123,040

118,871of which Non-controlling interestsof which Pensionsof which European Governments’ refundable advances

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

New Capitalised Research and Development
IN € MILLION
H1 2024

H1 2023

Airbus73

62

Helicopters

10

Defence and Space

90

101

Eliminations

0

0

164

163

Consolidated Airbus

32

33

Shareholding Structure at 30 June 2024

SOGEPA
10.8%

Free Float
74.2%
GZBV
10.8%

SEPI
4.1%
Treasury Shares
0.1%
792,283,683 shares issued at 30 June 2024

34

Quarterly Revenues Breakdown (Cumulative)IN € MILLION

Q1
2024

H1
2023

9m

2024

2023

2024

FY
2023

2024

2023

Airbus

9,167

8,110

21,215

20,34931,50747,763

Helicopters

1,461

1,598

3,191

3,194

4,662

7,337

Defence and Space

2,399

2,299

4,985

4,653

7,133

11,495

Eliminations

(197)

(244)

(566)

(533)

(742)

(1,149)Consolidated Airbus

12,83011,763

28,82527,66342,56065,446

35

Quarterly EBIT Adjusted Breakdown (Cumulative)IN € MILLION

Q1
2024

H1
2023

2024

9m
2023

2024

FY
2023

2024

2023

Airbus

507

580

1,954

2,256

3,216

4,818

Helicopters

71

156

230

274

417

735

Defence and Space

(9)

36

(807)

78

(1)

229

Eliminations

8

1

14

10

(1)

56

577

773

1,391

2,618

3,631

5,838

Consolidated Airbus

36

Quarterly EBIT Breakdown (Cumulative)IN € MILLION

Q1
2024

H1
2023

2024

9m
2023

2024

FY
2023

2024

2023

Airbus

500

197

1,972

1,523

2,306

3,610

Helicopters

71

156

230

267

410

717

Defence and Space

30

36

(760)

87

(3)

220

Eliminations

8

1

14

10

(1)

56

609

390

1,456

1,887

2,712

4,603

Consolidated Airbus

H1 2024 IFRS vs. APM Cash Flow ReconciliationIN € BILLION

June 2024

Cash provided by (used for) operating activities

0.4

t/o Reimbursement from / contribution to plan assets(0.2)

t/o Treasury swaps

0.0

t/o Change in other operating assets and liabilities(1.5)

Gross Cash Flow from Operations

2.1

37

Glossary on Alternative Performance Measures (APM)

38This 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 mostdirectly 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 measures enhance 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 foreign exchange 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 ofbusinesses.
▪ 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 before changes 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 foreignexchange 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: It is an alternative performance measure and key indicator which allows the Company to measure the amount of cash flow generated by its operations. The Company defines
Free Cash Flow as the sum of (i) cash provided by operating activities and (ii) Investments in intangible and fixed assets (net) & Dividends paid by companies valued at equity,
minus (iii) contribution to plan assets of pension schemes, (iv) realised foreign exchange results on treasury swaps and (v) change in cash from changes in consolidation.
▪ FCF before Customer Financing refers to Free Cash Flow adjusted for cash flow related to aircraft financing activities. It is an alternative performance measure and indicator usedby the Company in its financial guidance.