Finnair Plc               Stock Exchange Release              13 November 2025 at 9:00 a.m. EET

The Board of Directors of Finnair Plc has confirmed the company's strategy and long-term financial targets for 2026-2029. Finnair targets profitable growth and invests in ancillary services, retailing capabilities and its loyalty programme, with customer needs at the centre.

The strategic focus areas include a choice-based product offering that meets customer needs, engaging with customers also between journeys, a network that meets customer needs, and reliable and efficient operations.

As a part of strategy execution, Finnair is currently in negotiations with aircraft manufacturers and other relevant parties regarding the partial renewal of its narrow-body fleet. In addition, Finnair sees opportunities in developing new markets in its region and growing existing markets, for which purpose the company is considering adding used, smaller aircraft into its capacity in the near term.

Finnair's financial targets for the strategy period 2026-2029 are:

• Demand (passenger) CAGR 4% during the strategy period
• Comparable EBIT margin of 6-8% by the end of 2029
• 2-2.5 billion euros of investments during the strategy period
• Net debt to comparable EBITDA ratio of 1-2 during the strategy period
• Cash to sales ratio of at least 20% during the strategy period
• One-third of earnings per share, on average, to be paid to shareholders as dividends or capital returns, considering seasonal economic fluctuations

To support the target of achieving a comparable EBIT margin of 6-8%, Finnair is committed to delivering a profitability improvement of 100 million euros by the end of the strategy period. This ambition is underpinned by a disciplined approach to cost management and strategic initiatives focused on capital-light growth.

The above-mentioned financial targets replace the targets set in connection with the rights issue in 2023.

"We have built a strong foundation on which we can grow our business profitably. Our strategy and long-term financial targets are built so that Finnair can create shareholder value in the current operating environment. We have a clear direction, a committed crew and a Finnish brand that stands out. Now it's time to look ahead," says Finnair's CEO Turkka Kuusisto.

Capital Markets Update on 13 November 2025

Finnair's CEO Turkka Kuusisto and the Executive Board will present Finnair's strategy and financial targets for the period 2026-2029 in more detail at the Capital Markets Update on 13 November 2025. The event can be followed via a live webcast at finnairgroup.events.inderes.com/2025-cmu. More information about the event can be found at investors.finnair.com/en/capital_markets_update_2025.