Frontier Group Holdings, Inc. (NASDAQ:ULCC) Q3 2021 Earnings Conference Call November 10, 2021 4:30 PM ET Company Participants Susan Donofrio - Head of Investor Relations Barry Biffle - President & Chief Executive Officer Daniel Shurz - Senior VP, Commercial Jimmy Dempsey - Executive Vice President & Chief Financial Officer Conference Call Participants Ravi Shanker - Morgan Stanley Brandon Oglenski - Barclays Helane Becker - Cowen Hunter Keay - Wolfe Research Savi Syth - Raymond James Duane Pfennigwerth - E ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-40304 Frontier Group Holdings, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporatio ...

Frontier Group Holdings, Inc. (NASDAQ:ULCC) Q2 2021 Earnings Conference Call August 4, 2021 4:30 PM ET Company Participants Susan Donofrio - Head of Investor Relations Barry Biffle - President & Chief Executive Officer Daniel Shurz - Senior VP, Commercial Jimmy Dempsey - Executive Vice President & Chief Financial Officer Conference Call Participants Mike Linenberg - Deutsche Bank Ravi Shanker - Morgan Stanley Hunter Keay - Wolfe Research Duane Pfennigwerth - Evercore Savi Syth - Raymond James Stephen Trent ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 46-3681866 (I.R.S. Employer Identification Number) 4545 Airport Way Denver, CO 80239 (720) 374-4200 For the quarterly period ended June 30, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-40304 Frontier Group Holdings, ...

Financial Data and Key Metrics Changes - The company reported a GAAP net loss of $91 million for Q1 2021, with an adjusted net loss of $173 million or $0.86 per share, excluding special items [23] - Operating revenues declined by 50% year-over-year due to COVID-19, with a 36% decline in capacity [19] - Total revenue per passenger for the quarter was $83.38, while nonfare and other revenue remained strong at $52.55 per passenger [19] Business Line Data and Key Metrics Changes - The company is focusing on leisure travel, which is showing strong demand as vaccinations increase [7] - The addition of new routes to leisure destinations, including Nassau and Costa Rica, is part of the strategy to expand the domestic and near-international network [9] - The loyalty program, including the co-brand credit card, is expected to generate substantial liquidity and has been recognized as a top airline card [16][17] Market Data and Key Metrics Changes - The Caribbean and Latin America region is expected to account for over 13% of the company's capacity this summer [17] - The company is seeing a recovery in load factors as demand for travel continues to increase [20] Company Strategy and Development Direction - The company aims to maximize shareholder value and recovery by adding routes and enhancing its fleet with new, fuel-efficient aircraft [10][11] - The strategy includes a commitment to being America's greenest airline, with the addition of new A320neo aircraft [10] - The focus is on returning to profitability in the second half of 2021 and achieving full utilization in 2022 [31] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in travel demand, attributing it to the vaccination rollout and pent-up demand [7][43] - The company anticipates that demand will outstrip supply as capacity recovers, leading to increased fares and yields [70][124] - Management believes that the leisure travel segment will continue to grow due to changes in work-from-home dynamics, allowing for more flexible travel [103] Other Important Information - The company achieved cash positivity in March 2021 and ended the quarter with $853 million in total available liquidity [24] - The fleet is expected to grow to 120 aircraft by the end of 2022, with a focus on replacing older models with more efficient ones [28][85] Q&A Session Summary Question: Current traffic environment and market share - Management noted that the current demand is a mix of new customers and existing customers flying more frequently due to lower fares [36][37] Question: Growth potential for ULCCs - Management believes there is significant room for ULCCs to grow market share in the U.S., similar to their counterparts in Europe [39] Question: Impact of rising fuel prices on margins - Management acknowledged the challenges posed by rising fuel prices but remains optimistic about demand recovery and profitability [42] Question: Aircraft leasing and sourcing - The company confirmed flexibility in sourcing aircraft beyond its existing order book, including potential leases from other companies [51] Question: Business travel recovery - Management indicated a slight improvement in business travel, primarily from small businesses, as offices reopen [116] Question: Future profitability targets - The focus is on achieving profitability first before addressing margin improvements, with expectations for a strong recovery in the second half of the year [82] Question: Inventory management compared to 2019 - Management indicated that inventory management is still behind 2019 levels, but they expect to see improvements as demand continues to grow [75][122]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-40304 Frontier Group Holdings, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or ...