Investor Presentation March 2015

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Important Notice

This presentation, and the information contained herein, is not for viewing, release, distribution or publication into or in any jurisdiction where applicable laws prohibit its release, distribution or publication. This presentation ("Presentation") is being issued by Fastjet PLC (the "Company") for information purposes in 2015.

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fastjet’s senior management team

• 27 years of travel experience

• easyJet

• Jet2.com

• Jet2 Holidays

• Virgin Holidays

• Part of launch team

• Recently created role with specific focus on dealing with regulatory issues

• Based in Nairobi

• Previous practiced as corporate lawyer in sub-Saharan Africa

• Qualified A320 training Captain

• Caledonian Airways

• Thomas Cook Airlines

• Brought up in Nigeria

• Early flying career in Zimbabwe

• 20 years of airline experience

• Kenyan national

• Kenya Airways

• Virgin Nigeria

• Senior commercial roles

• Over 40 years of airline experience

• BOAC/British Airways, easyJet

• COO & Founder Director of Go

• Managed integration of Go into easyJet following successful MBO

• COO of easyJet through period of significant & successful growth

• 24 years of airline experience

• British Airways

• Swissair

• South African Airways

• easyJet

• Jetstar

• Fiji Airways

• Significant traditional and low cost airline experience

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Safe and Reliable

Modern jets with proven LCC model

Building consumer confidence

Low cost fares starting from $20 (exc. taxes & charges)

One airline brand to the consumer

Separate airlines to the regulator

Multi-channel distribution

network

First mover to create a low cost regional African

network

Peoples’ Champion - democratising air

travel in Africa

To operate domestic and international routes in all economically viable African markets

Vision – “To be the most successful pan African low cost airline”

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European levels of safety & reliability delivered by our suppliers

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• fastjet operates a well proven Low Cost Carrier model - differentiated from many previous ‘low cost’ (or just low fare) start ups in South Africa.

• Modern fuel efficient jet aircraft

• World class maintenance

• Single aircraft type

• Short haul, point to point network

• High resource utilisation

• No frills - profitable ancillary revenue streams

• Complexity engineered out

• Flat management structure

• Empowered staff

• Using low fares to stimulate the market

fastjet’s low cost business model

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fastjet’s opportunity

Source : The Economist (Nov 10th 2010)

• 1.1 billion people

• US1.4 trillion consumer spend by 2020 (McKinsey)

• Oil, gas and minerals exports fuelling economy

• Visible signs of consumerism

• Relative political stability

• Infrastructure development

Africa - 15% of world population, 20% of land mass, 3% of aviation

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• African aviation market is immature but growing

- Safety issues (11.5 accidents per million flight hours in Africa vs 2 accidents in rest of the world (IATA 2012))

- Currently less than 0.1 seats per capita per annum

- fastjet estimates that at least 160m more intra-African aviation seats required by 2030

- Only seven international intra-African flights currently flown by Low Cost Carriers (four operated by fastjet)

Annual Seats (millions)

South Africa 23.4

Nigeria 10.9

Egypt 5.1

Kenya 4.8

Tanzania 2.6

Ethiopia 2.4

Morocco 2.4

Algeria 2.4

Other 29.9

Total 84.2

Putting into perspective*

Intra-African seats*

Annual Passengers (millions)

Heathrow 72.3

Manchester 20.7

Bristol 6.1

Belfast City 2.5

* Illustrative data – 2012/13

fastjet’s opportunity

Africa - 15% of world population, 20% of land mass, 3% of aviation

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Fly540 Kenya bought by Lonrho plc

2006

Lonrho explores disposal of Fly540.

Discussions with Stelios 2012

easyGroup Consultancy project

to develop pan African Low Cost

Model commences 2012

fastjet’s 1st domestic flight in

Tanzania Nov 2012

Fly540 reversed into AIM cash shell Rubicon Plc -

renamed fastjet Plc July 2012

1st international flight Dar es Salaam to

Johannesburg Oct 2013

1st year >350,000 fastjet

seats sold Nov 2013

Routes added to Zambia, Zimbabwe

& Uganda throughout 2014

Disposal of Fly540 Kenya

Jun 2014

1,000,000 fastjet seats sold

fastjet’s first profitable trading

month Dec 2014

Lonrho Plc develops Fly540 in Tanzania,

Ghana and Angola 2011-

2012

Lonrho taken private July 2013

fastjet shareholding sold between

June – November 2013

fastjet’s development timeline

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Geo-targeted pricing ensuring lower fares available locally

Swahili site added Oct 2014

up to 30% of revenues through mobile money

>10 %

Remarkable sales conversion level

Social media promotes the brand

Ancillary revenue links increase user engagement

on website

Mobile phone site growing in importance

fastjet’s market leading digital success

3,564,652 visits

4.89 pages per visit

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Current performance – Tanzania

• fastjet Tanzania is growing successfully since its inaugural flight Nov 2012

• Key performance indicators

– Over 1,000,000 seats sold to date (35% first time fliers according to fastjet survey, December 2014)

– Average booking window increased by 26% in 2014

– Network Load Factor Average above 70%

– Reliability: 90% punctuality (arrivals within 15 minutes of schedule)

– In a passenger survey, 95% of passengers surveyed said that they would fly with fastjet again

Services from Dar es Salaam – currently 3 aircraft

Domestic

Mwanza - up to 4 times daily

Mbeya - twice daily (only operator)

Kilimanjaro – up to 3 times daily

International

Jo’burg, South Africa – 3 weekly

Lusaka, Zambia - 4 weekly

Harare, Zimbabwe – 3 weekly

Entebbe, Uganda – 4 weekly

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Source: Google flight schedule – 17th January 2015

• fastjet increasingly dominant in Tanzanian markets, substantially growing the market

• Dubai link provides “through passengers” for local traffic

• Nairobi traffic offers strong growth possibility when licence received

Dar es Salaam – growth from DAR airport

0 2000 4000 6000 8000 10000

fastjet (55)

Emirates (14)

Kenya Airways (35)

Precision Air (45)

Qatar Airways (14)

Ethiopian Airlines (14)

KLM (7)

South African Airways (14)

flydubai (7)

Turkish Airlines (7)

Oman Air (5)

Egyptair (3)

Top 12 airlines - weekly seats (flights) from DAR 2015

0 1000 2000 3000 4000 5000 6000 7000

Dubai

Kilimanjaro

Mwanza

Nairobi

Johannesburg

Zanzibar

Doha

Addis Ababa

Amsterdam

Mbeya

Istanbul

Muscat

Top 12 destinations - weekly seats from DAR 2015

Seats Seats

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$-

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$16,000,000

$18,000,000

$20,000,000

Q1 Q2 Q3 Q4

Quarterly Total Revenue by Year

2013 2014

Year on Year Growth

• Passenger volume up 63% • Capacity increased by 62% • Load factor from 72% to 73% • Revenue per passenger including ancillaries up by 27%

Clear positive momentum in Tanzanian operation

(2014 revenue figures subject to audit)

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• Organic growth - Increasing frequency on existing routes - Linking current domestic destinations e.g. Mwanza - Kilimanjaro - Operating to new domestic destinations as the airfields are upgraded to take A319 aircraft - Adding new international destinations - including Lilongwe, Nairobi, Mombasa, Lubumbashi - Competitors in Tanzania increasingly focusing on smaller routes - The existing aviation infrastructure supports planned growth to breakeven and beyond

• Operating flights from Entebbe, Uganda - Uganda CAA lost its regulatory approval after failing ICAO audits - Air Uganda and other Uganda regulated airlines have been shut down - There is a lack of air capacity

• Growing the Tanzanian fleet - The fleet plan is 8 aircraft by 2018 (excluding Uganda operations) - Potential over time is far greater

Plan to build out the Tanzanian base

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Opportunities to develop beyond Tanzania

• Key opportunities identified across the region - Kenya, Uganda, Zambia, Zimbabwe, and South Africa are major growth opportunities

- These are English speaking countries with strong historic links dating from their British heritage

- Their geographical proximity enables significant synergy opportunities including aircraft, maintenance and crew

- Total population is approx. 210m, with currently fewer than 0.1 regional air seats per head of population per annum

- No reported cases of Ebola in the countries in which we plan to operate (source: WHO 5 November 2014) – we are closer to Monrovia when in London than in Dar es Salaam (5,099km vs 5,693kms)

• Potential for fastjet growth - By 2018, fastjet expects to carry up to 10 million passengers per annum

- Representing only a 13% market share of estimated pan African passengers in these markets

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• Create fastjet brand airlines across all key countries in Africa - Expand rapidly to gain first mover advantage - One airline to the consumer - consistent delivery of safety, reliability, service, brand and quality - Integrated network and revenue management to maximise value - Local management of each fastjet airline

• Centralised functions will provide economies of scale and knowledge share - Internal services will be designed to deliver synergy benefits across the countries - Overall fleet structure will be designed to optimise fastjet Group aircraft utilisation - A Group approach to contracts and service providers will allow efficiencies and reduce fixed costs - A centre of expertise will develop and support fastjet airlines across the region - Centralised services to be geographically located for optimum costs and performance

Pan African growth strategy

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Foundations in place – poised to seize the opportunity of pan African expansion

• The Plan

- Creating a pan African Low Cost Airline network

- Business model to overcome regulatory restrictions

- One airline to the customer with network wide consistent brand delivery

- Positioned to gain first mover advantage

- Using a fleet of Airbus 319s we differentiate against the competition with reliability and safety

• Progress

- Tanzanian operation profitable in the month of December 2014

- Low Cost Airline model successfully implemented in Tanzania operating three aircraft

- Dominating the Tanzanian domestic market on our routes

- Breaking down regional regulatory resistance – four international routes already operational

- Brand, reputation, communication and distribution channels successfully established

- Legacy Fly540 restructuring well advanced

• The Opportunity

- Further developing Tanzania by increasing frequency and adding new routes by managing through the regulatory issues

- Expansion beyond Tanzania, initially in Zambia, Zimbabwe, Kenya, Uganda, and South Africa

- Potential to reach a fleet of 34 aircraft by 2018

- Investment to take the company through expansion and create significant value

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