RECORD HALF YEAR FINANCIAL PERFORMANCE

Key Half Year Highlights

~ Statutory profit before tax - $33.6 million, up $18.1 million or 116.8%;

~ Underlying profit before tax - $26.7 million, up $11.2 million or 72.3%;

~ Operating cash flow for the half year - $47.5 million, up $32.9 million or 225.3%;

~ Total revenue - $154.8 million1 , up $3.5 million or 2.3%;

~ Net debt $6.8 million and leverage ratio of 0.53; and

~ Alliance retains a positive outlook for the 2021 financial year and growth in the 2022 financial year and beyond as the additional aircraft are deployed

DISC: I have held previously

Wet Lease Agreement for up to 14 x E190 Aircraft with Qantas Airways Limited

• Alliance to provide capacity using recently acquired Embraer E190 aircraft commencing from mid-2021.

• Range and route economics make the E190 an attractive option in a post COVID-19 aviation market.

• The transaction confirms Alliance’s confidence in deploying the recently acquired E190s.