Company Presentation

30 June 2010

2

AEGEAN at a glance

Full service carrier focusing on quality services

Providing scheduled & charter, short & medium haul services since 1999

Growing fast over the decade to become the largest Greek airline since 2008

6.6 million passengers carried in 2009

Fleet of 28 jet A/C + 2 wet lease Turboprops

Listed in Athens Exchange

Profitable in the last 7 years

3

Shareholder structure

Bottling, Industrials, Real Estate, Consumer Goods4.7%G. David family

Automotive – trading, leasing – services, airline sectorExercises management

36.0%Vassilakis Group

23.0%

4.7%

6.0%

6.4%

19.0%

%

Construction, Real estate, Hotels, RestaurantsD. Ioannou family

Other 60.000 shareholders

Banking, real estate, InsurancePiraeus Bank

Shipping, Tourism, Real estateConstantakopoulos family

Shipping, Hotels, Real estate, financeLaskaridis Group

Field of activityShareholder

4

Investing in new fleet

3021Total

3,5 years10 yearsAverage age

20ATR 72 (wet leases)

220Airbus A320/321

015Boeing 737

66RJ Avro

20102006Fleet

Fleet has grown from 21 in 2006 to 30 in 2010

Replacement of 737 Boeing fleet with brand new

A320 family aircraft initiated in 2007

5

Network evolutionFleet growth facilitated network expansion

2006: Covering 8 out of top 30 international destinations out of Athens

2010: Covering 19 out of top 30 international destinations out of Athens

3722Total Destinations

5429Number of routes*

208International Destinations

1715Domestic Destinations

20102006Summer Season

2010 routes include 4 seasonal

6

International Network

Porto

Lisbon

TAP Portugal:

Paris

Manchester

London

Hannover

Hamburg

Berlin

Barcelona

Amsterdam

Lufthansa:

Stockholm

Nice

Manchester

Brussels

Brussels Airlines:

Manchester

Glasgow

Edinburgh

Dublin

Belfast

Aberdeen

Bmi:

Paris

Brussels

London

Vienna

Istanbul

Venice

Larnaca

Cairo

Rome

Athens

Tel Aviv

Tirana

BelgradeMilan

Berlin

Munich

Frankfurt

Düsseldorf

ThessalonikiBarcelona

Madrid

Stuttgart

28 intl routes20 intl destinations

Nice

Aegean International Network :

Code shared destinations

Thessaloniki - Stuttgart28Thessaloniki - Munich27

Thessaloniki - Larnaca26Thessaloniki - Frankfurt25Thessaloniki - Dusseldorf24Santorini - Rome (seasonal)23Santorini - Milano (seasonal)22Mykonos - Rome (seasonal)21Mykonos - Milano (seasonal)20Athens - Vienna19Athens - Venice18Athens - Tirana17Athens - Tel Aviv16Athens - Rome Fiumicino15Athens - Paris CDG14Athens - Munich13Athens - Milano Malpensa12Athens - Madrid11Athens - London Heathrow10Athens - Larnaca9Athens - Istanbul8Athens - Frankfurt7Athens - Dusseldorf6Athens - Cairo5Athens - Brussels4Athens - Berlin TXL3Athens - Belgrade2Athens - Barcelona1

7

Domestic Network26 domestic routes17 domestic destinations100 daily flights

ThessalonikiIoannina

Corfu

Chania

Heraklion

Santorini

Mykonos

Samos

Kos

Rhodes

Mytilini

AlexandroupolisKavala

Athens Chios

Kalamata

SitiaThessaloniki - Santorini26Thessaloniki-Samos (PSO)25Thessaloniki - Rhodes24Thessaloniki - Mytilini23Thessaloniki - Mykonos22Thessaloniki - Kos21Thessaloniki-Kerkyra (PSO)20Thessaloniki-Kalamata (PSO)19Thessaloniki - Heraklion18Thessaloniki - Chania17Athens - Thessaloniki16Athens-Sitia (PSO)15Athens - Santorini14Athens - Samos13Athens - Rhodes12Athens - Mytilini11Athens - Mykonos10Athens - Kos9Athens - Kerkyra8Athens - Kavala7Athens - Kalamata6Athens - Ioannina5Athens - Heraklion4Athens - Chios3Athens - Chania2Athens - Alexandroupolis1

Aegean Domestic Network :

8

Traffic

Passengers - Domestic Network (m)

0,311,57 1,92 1,74 2,05

2,57 2,79 3,06 3,36 3,67 3,75

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Passengers - International Network (m)

0,00 0,000,59 0,67 0,80 1,01 1,22 1,39

1,872,31

2,82

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Total Passengers (m)

0,311,57

2,51 2,42 2,85 3,58 4,01 4,455,23

6,00 6,57

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

9

Solid financial position

Revenue (m €)

72,2157,5

201,3 223,1283,5

340,6401,1

482,7

611,7 622,7

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

23,0 Net earnings after tax

83,3Total borrowings

208,2Cash & cash equivalents

224,6Total equity

32,5 Pre – tax earnings

31,5 EBITDA2

95,9 EBITDAR1

622,7 Revenues

2009€ (m)

1 EBITDAR: Earnings before interest, tax, depreciation & amortization and lease costs, 2 EBITDA: Earnings before interest, tax, depreciation & amortization

10

Significant contribution to the market’s growth

4,4

19,6

24

4,6

24,2

28,8

6,8

26,1

32,9

0

5

10

15

20

25

30

35

Domestic International Total

Pass

enge

rs (

m)

1998 2002 2009

+55%

+33%

+37%

Total market 1998-2009:9 million passengers increase

Total market (in million pax)

6,8

10,1

2,4

3,9

9,7

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

1

International (other airports)International (Heraklion)International (Thessaloniki)International (AIA)DomesticSource: AIA, HCAA

32,9 m pax

11

Investing in Quality

New fleet improves reliability / punctuality / Product upgrade

Investing in quality on board and on ground

Business / economy class

Frequent Flyer Program

On time performance

In flight entertainment

Continuous market research on customer satisfaction

Aegean Cuisine on AEGEAN flights!

Athens International Airport Lounge

Our in-flight Magazine

Self Check-in kiosks

Discover Greek wine campaign

12

e services / Simplifying procedures

e services for individuals & Travel Agents

Continuous improvements on www.aegeanair.com

Unique visitors passed the 1m mark in February 2010

Auxiliary services like hotel reservation, travel insurance, car rental

13

Awards

The company contributing to the largest increase in passengers for the years 2004-2009

European Region Airline Association awards over the years : 2000, 2004, 2005, 2006, 2007, 2008

Best regional airline in Europe Best Cabin Crew in South Europe 16 million passengers voted for the survey

14

Initiatives

Children Villages SOS (Aegean + Passengers contribution)

National initiative: 2 new Airbus Α320 bearing the image of the Acropolis Museum’s Kori of Athens

Transfer of more than 6,000 students from the Greek islands to the new museum

15

Agreement to merge with Olympic

February 2010: Main shareholders of AEGEAN and sole shareholder of Olympic Marfin Investment Group reached an agreement for the merger of the twoentities’ operations

Deal structure: Capital Increase of €97.5m into 3 Olympic co’s fully covered by MarfinAcquisition by Aegean of 3 subsidiaries of Olympic group (airline, engineering, handling) + Simultaneous Capital increase in Aegean with the sole participation of Marfin Investment Group (26.6%) + €48.5m cash consideration paid to Marfin by Aegean

Deal at European Competition Commission approval stage

16

Aegean becomes a member of STAR ALLIANCE

Over 21,200

4,025

1,172 in 181 countries

628 m

28

Star AllianceFacts & Figures

Members:

Airports :

Fleet :

Daily departures :

Passengers per year:

17

Star alliance entry process

April 2009: Star alliance acceptance

May – July 2009: integration planning

September 2009 – May 2010: Implementation

Operational issues:IT systemsLoyalty programsPassengers & baggage processes

30.06.2010: AEGEAN joins Star Alliance - Short integration period and systems upgrade

18

Star Alliance: Benefits to passengers

Access to a worldwide network – Global reach

Seamless worldwide travel services / ticketing, check-in services

Frequent Flyer Programs linked

Privileged access to facilities, lounges, priority check-in, boarding, baggage

Round the world fares

19

Star Alliance: Benefits to Aegean

Worldwide recognition / status

Network connectivity / increased feeding => additional passengers

Corporate agreements => additional passengers

Common terminals / facilities in a large number of airports => Operational improvement

Synergies in IT => upgrade & development of new services

Joint sourcing projects => cost reduction

Know-how exchange

Thank you!