On Solid Strategic Track in Turbulent Times

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1 On Solid Strategic Track in Turbulent Times Wolfgang Mayrhuber Chairman of the Executive Board & CEO Deutsche Lufthansa AG Lufthansa Training & Conference Center Seeheim June 25,

2 Lufthansa: Three pillars of success Corporate Structure Business Strategy Operational Execution 2

3 Our Structure Settings The provides mobility for people and goods Management of networks Management of operations Management of assets, resources and supply chain The provides global services to airplane operators Management of innovations Passenger Businesses Logistics MRO IT Services Catering Internal market External market 3

4 Business strategy: common themes Be focused Grow profitably Create value Enhance quality differentiation Be innovative Provide brand value Nourish key success factors 4

5 Key factors for a successful airline Brand Location Home Market Growth Market Fleet Employees Product Infrastructure Leadership & Partnership Financials 5

6 Market Circumstances: Cyclic Economy Since mid of 2008 a sharp decline in the airline business is evident Monthly growth of international air traffic (IATA) and of Lufthansa (% to PY) Jan 08 Mrz 08 Mai 08 Jul 08 Sep 08 Nov 08 Jan 09 Mrz 09 Mai 09 PKT IATA FTKT -35 Source: IATA 6

7 Market Circumstances: Cyclic Economy For 2009 IATA forecasts net losses of USD -9.0bn in the airline industry USDm years 10 years 9 years? Civil aircraft ? Aircraft orders Net earnings IATA Known aircraft deliveries Source: IATA, Lufthansa 7

8 Market Circumstances: Cyclic Economy A parallel growth to the former trend of 4.7 % is earliest expected from around second half of 2010 on Worldwide air traffic development after cyclic peaks (in billion PKT) % pa 2000 trend peak Forecast 4.8% pa 1990 trend peak 1990 peak 1979 peak 5.4% pa 1980 trend 9.7% pa 1970 trend 0 3 years of low growth -5 years -4 years -3 years -2 years -1 year Cycle peak +1 year +2 years +3 years +4 years +5 years +6 years +7 years +8 years +9 years Source: IATA 8

9 Market Circumstances: Cyclic Economy Still, Airline Business remains a growth industry in the medium term Worldwide air traffic development (in billion PKT) % p.a % p.a % p.a % p.a. 0 Source: IATA

10 Lufthansa's Overall Setup Lufthansa flexibly adapts to short-term market changes while maintaining long-term strategic path for profitable growth Short-term flexibility Capacity reduction of both, passenger & cargo business Flexible adjustments of workforce Cost-cutting measures Reduction of investments Secure financial position (cash) Long-term strategic approach Customer innovation & quality Increase level of flexibility Take actively part in consolidation process Gain market share Realise synergies Organisational set-up for the LH Airline Group

11 Crisis Countermeasures Short-term: Reducing expenses and securing cash flow Long-term: Structural and strategic review for optimisation Short-term Countermeasures Capacity Personnel Material & Investments Suppliers o o o o o o Long-term Opportunities Structural Review (organisation, business models, best owner ) 1. In the short run, a comprehensive corporate programme is launched to counteract the effects of the crisis 2. Lufthansa remains on solid strategic track, continuously striving for efficiency and higher quality 3. With strong brands, Lufthansa offers high quality products in every segment 4. Lufthansa to remain Industry Leader with respect to profitability among European network carriers 11

12 Strategic Crisis Management To successfully navigate through economically weaker times a well prepared sound strategic setup is essential Strategic Vision and Leadership Cost Flexibility (Reduce share of fixed expenses) Responsiveness (Fast capacity adjustments) Opportunities (Secure markets, deploy for economic revival) Entrepreneurship Corporate Culture Strong Balance Sheet & Financials 12

13 Cost Flexibility Current status of adaptability to weak demand Cost flexibility at: 20% revenue decrease 30% revenue decrease LH Passage Airlines 50% 59% 50% 61% SWISS 53% 69% 53% 70% Logistics 43% 55% 43% 54% Technik MRO 63% 84% 63% 79% IT Services 5% 82% 7% 79% Catering 48% 82% 44% 75% at once after 12 months 13

14 Response to market Adapt to market needs Reduce number of aircraft Reduce SKO Optimise aircraft compartment (Cont. 4 > 6 abreast, intercont. convert Business to Economy) & optimise structure of fleet Maintain best network possible with respect to destinations and frequencies 14

15 Response to market Rollover with more efficient fleet and compartment structure SKO effect of rollover with higher capacity aircraft A346 vs. A343* % B744 with larger Y/Cl** % CRJ 900 vs. DH3*** % (*) A346: 8/60/238 vs. A343: 8/48/165 (**) B744: 16/66/270 vs. 16/80/234 (***) CRJ 900: 86 vs. DH3: 50 15

16 Response to market Planned growth of 6 % for 2009 reversed into a capacity reduction with a more efficient fleet structure Continental production LH Passenger Business 2009 to PY (in %) Capacity measures to original plan SKO Landings Winter 08/09-1 A306 (-271 mio. SKO p.a.) April - June 2009 As of July ,9-1 A319 (-245 mio. SKO p.a.) -3 BAe 146 (-248 mio. SKO p.a.) -3 CRJ 200 (-172 mio. SKO p.a.) + -4 A306 (-1.1 bn. SKO p.a.) + -5 A306 (-1.4 bn. SKO p.a.) -5,4-5,7-1 Dash 3 (-32 mio. SKO p.a.) Q1 Summer flight plan -8,6 Remark: Capacity planned,19 June 2009, without LH Italia -9 aircraft (-968 mio. SKO p.a.) -4 aircraft (1.1 bn. SKO p.a.) 18 aircraft & 3.5 bn. SKO p.a. -5 aircraft (1.4 bn. SKO p.a.) 16

17 Response to market Planned growth of 6 % for 2009 reversed into a capacity reduction with a more efficient fleet structure Intercontinental production LH Passenger Business 2009 to PY (in %) Capacity measures to original plan SKO Landings Winter 08/09 April - July 2009 As of Sept ,5 0,7-4 A306 IC (-2.4 bn. SKO p.a.) -1 A343 (-1.2 bn. SKO p.a.) -1 B744 (-1.5 bn. SKO p.a.) -3,1-2, A346 (-1.5 bn. SKO p.a.) Q1 Summer flight plan Remark: Capacity planned,19 June 2009, without LH Italia -4 aircraft (-2.4 bn. SKO p.a.) -1 aircraft (1.2 bn. SKO p.a.) 7 aircraft & 6.6 bn. SKO p.a. -2 aircraft (3.0 bn. SKO p.a.) 17

18 Opportunities Increasing market presence by partnerships and consolidation Our logic of consolidation Markets / Customers HEL Solid demand Strong brand Customer benefits from network connectivity and no. of destinations Safeguarding stronghold Europe DUB LHR? CDG BRU CPH AMS FRA MUC ZRH VIE PRG WAW Financial Performance Stand-alone profitability Synergies cost- and revenue-wise Opportunities for restructuring MXP LIS MAD FCO Values & Cultural Fit Governance Entrepreneuship Cultural fit Remark: Brussels Airlines, Austrian Airlines and bmi subject to transaction closing 18

19 Opportunities Increasing network quality by multiple hub strategy For Example: More choices regarding flights from Barcelona to Manchester Higher flexibility regarding schedule and hub: via MUC 06:10 via BRU 06:30 via FRA 08:20 MAN BRU DUS ZRH FRA MUC via BRU via DUS via MUC via FRA via BSL via BRU via DUS 09:15 09:35 12:00 12:40 14:10 14:10 14:15 via ZRH 14:45 via FRA 15:40 BCN via MUC 18:05 Remark: Brussels Airlines, Austrian Airlines and bmi subject to transaction closing 19

20 Opportunities Adding new destinations for each member of the Airline Group For Example: Additional destinations in Africa by Brussels Airlines for each Lufthansa Airline Group Member New destinations in Africa BRU cl FRA MUC VIE ZRH ABJ Abidjan Cote D Ivoire BJL Banjul Gambia BJM Bujumbura Burundi CKY Conakry Guinea DKR Dakar Senegal EBB Entebbe Uganda FIH Kinshasa Congo KGL Kigali Rwanda ROB Monrovia Liberia Remark: Brussels Airlines, Austrian Airlines and bmi subject to transaction closing 20

21 Brussels Airlines Commercial cooperation intensified, EU process finalised Bilateral cooperation in Summer flight plan ( ) successfully started: - Comprehensive codeshare partnership - Mutual recognition of frequent flyer programme - Combinability of prices in neighbourhood traffic - Mutual lounge access and ground processes - Relaunch of business class at Brussels Airlines on all European routes Preparation of Miles & More-full-integration and integration into Star Alliance before year end 2009 Further synergy projects planned after share transfer Time schedule of EU clearance process: - 15 September 2008: Signing of contract - 26 November 2008: Formal application to EU - 22 June 2009: EU clearance given 21

22 bmi Settlement reached Time schedule of transaction 9 November 1999: Basis Shareholder's Agreement - Basis for acquisition of 30 % minus 1 share - Put option for Sir Michael Bishop/ call option for LH 10 October 2008: Execution of put option by Sir Michael Bishop (50 % share) 22 June 2009: Out-of-court settlement - Cancellation of put option by Sir Michael Bishop - Lufthansa in turn will pay GBP 175m Transaction structure: Similar to other airline investments Initially, bmi is to remain UK-owned -LHBD Holding Limited (LHBD) will acquire The BBW Partnership Limited's entire stake of 50 % plus 1 share in bmi for approximately GBP 48m -Lufthansa will have 35 % direct voting shares in LHBD -1 July 2009: Transaction closing expected After obtaining necessary traffic rights, Lufthansa expects to be able to acquire 100 % of LHBD 22

23 Austrian Airlines Merger process on track with impacts from the global economic crisis Takeover offer for Austrian Airlines shares expired on June 11th with an acceptance rate of 88.1% Antitrust clearance and approval of the restructuring concept by the European Commission is expected within the next few weeks Closing of the merger process intended until the end of July* Global economic crisis has also major impact on Austrian Airlines current performance First cost savings programme of EUR 225m has been successful Further measures must be taken in order to get the company back into profitability Lufthansa anticipates the takeover as announced and is convinced of multiple chances that arise form the enlarged Lufthansa Airline Group Network Despite the recent downsizings of Austrian Airlines network, Lufthansa still expects a long-term annual synergy potential of EUR 80m (*) Upon completion of all conditions precedent 23

24 Lufthansa Italia Own attractive brand is introduced in Italian market Northern Italy is a highly attractive market for Lufthansa One of the leading economic regions in Europe High share of business travelers Alitalia significantly reduced its offer from Milan- Malpensa in Summer 2008 Lufthansa Italia ideally complements the Lufthansa offer in the Italian market Mobility offer based on local customer requirements Access to new customer groups in a strategic market Important contribution to Lufthansa s growth strategy Lufthansa Italia operation started successfully in February 2009 Fleet of 8 A319 aircraft, more than 250,000 passengers Direct connections from Milan-Malpensa to eleven European and Italian destinations High quality operations- & service concept: praised by over 85 % of our customers 24

25 Organisational Upgrade Clear structure for focused development Chairman of the Executive Board & Chief Executive Officer Chief Executive Officer Lufthansa German Airlines* Chief Officer Group Airlines & Corporate HR Chief Financial Officer Strengthend management Aligned responsibilities Lufthansa Passage SWISS bmi Airlines Austrian Airlines Brussels Airlines germanwings SunExpress Airline Development Board (ADB) Members of Executive Board & Airline CEOs jetblue Lufthansa Cargo Lufthansa Technik LSG Skychefs Lufthansa Systems Services Financial Services Added dedicated Lufthansa German Airline CEO position Established crossborder "Airline Development Board" (*) Deputy Chairman of the Executive Board of Deutsche Lufthansa AG 25

26 Organisational Upgrade Further development of the Group organisation Maintain focused development in various Business Units Enhance synergy potentials between Airlines and other Business Units Create a learning organisation amongst Group Members Share ideas, innovations and expertise Contain responsibilities within Business Units (bottom up) Allocate resources (top down) Promote Shared Services 26

27 Organisational Upgrade Entrepreneurship by organisational structure Egalitarianism "Big but slow" Competition of ideas Learning organisation Responsibility/accountability Close to market, customers and employees Risk avoidance Modular expandability, fungibility "Swift, flexible and market geared" 27

28 Innovations Ongoing improvements of products, services and benefits for our customers Modern aircraft with optimised cabin interior New check-in terminals Inseat screens in Eco. Lufthansa efly Services New services & food innovations New lounges 28

29 Summary We cannot change the market environment, but we can adapt to it We have attained favourable competitive advantages which we intend to use: (1) Stronger balance sheet and asset base (2) Well balanced market exposure and business set-up (3) Advanced ability to react to new opportunities (4) Capability to manage a future oriented corporate portfolio and multi-hub airline system (5) Experienced management and highly educated employee base 29

30 30

31 Disclaimer in respect of forward-looking statements Information published in this presentation with regard to the future development of the and its subsidiaries consists purely of forecasts and assessments and not of definitive historical facts. These forward-looking statements are based on all discernible information, facts and expectations available at the time. They can, therefore, only claim validity up to the date of their publication. Since forward-looking statements are by their very nature subject to uncertainties and imponderable risk factors such as changes in underlying economic conditions and rest on assumptions that may not or divergently occur, it is possible that the Group's actual results and development may differ materially from those implied by the forecasts. Lufthansa makes a point of checking and updating the information it publishes. It cannot, however, assume any obligation to adapt forward-looking statements to accommodate events or developments that may occur at some later date. It neither expressly nor conclusively accepts liability, nor gives any guarantee, for the actuality, accuracy and completeness of this data and information. 31

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