Air France-KLM group’s consensus as of 26th of April 2018

The consolidated financial statements of the Group have been restated as of 1st January 2017 with the implementation of new accounting standards IFRS 9, 15 and 16. Firstly, a number of broking firms decided not to submit estimates due to these changes, hence the participation is lower than previous quarters. Secondly, a number of participating broking firms has submitted their estimates without taking into account IFRS implementation.

In order to get a like-for-like comparable consensus, it has been split in 2 tables one with post-IFRS and the other with pre-IFRS estimates.

The consensus is composed of the forecasts of analysts from the following broking firms who follow Air France-KLM on a regular basis:

Davy, Deutsche Bank, Exane BNP, HSBC, ING, Morgan Stanley, Oddo, Raymond James, RBC and UBS.

This information was collected between 18th of April and 25th of April 2018 directly from the sell-side analysts. It is provided by Air France-KLM solely for information purposes and should under no circumstances be regarded as validation by Air France-KLM of any of these forecasts. It does not represent the opinion of Air France-KLM, its management or any of its employees. In consequence, Air France-KLM cannot be held responsible for any of the information or data contained in or omitted from this tables.

Consensus based on post-IFRS implementation estimates

Consensus based on pre-IFRS implementation estimates

This information does not constitute an incitement to purchase or sell shares or to undertake any type of transaction in Air France-KLM shares. We invite all investors to consult with their financial intermediary or advisor