Safran : First-quarter 2019 revenue

FIRST-QUARTER 2019 REVENUE

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Disclaimer

>FORWARD-LOOKINGSTATEMENTS

This document contains forward-looking statements relating to Safran, which do not refer to historical facts but refer to expectations based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those included in such statements. These statements or disclosures may discuss goals, intentions and expectations as to future trends, synergies, value accretions, plans, events, results of operations or financial condition, or state other information relating to Safran, based on current beliefs of management as well as assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as "anticipate," "believe," "plan," "could," "would," "estimate," "expect," "forecast," "guidance," "intend," "may," "possible," "potential," "predict," "project" or other similar words, phrases or expressions. Many of these risks and uncertainties relate to factors that are beyond Safran's control. Therefore, investors and shareholders should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: uncertainties related in particular to the economic, financial, competitive, tax or regulatory environment; the risks that the new businesses will not be integrated successfully or that the combined company will not realize estimated cost savings and synergies; Safran's ability to successfully implement and complete its plans and strategies and to meet its targets; the benefits from Safran's plans and strategies being less than anticipated; and the risks described in the registration document (document de référence). The foregoing list of factors is not exhaustive. Forward-looking statements speak only as of the date they are made. Safran does not assume any obligation to update any public information or forward-looking statement in this document to reflect events or circumstances after the date of this document, except as may be required by applicable laws.

>USE OF NON-GAAP FINANCIAL INFORMATION

This document contains supplemental non-GAAP financial information. Readers are cautioned that these measures are unaudited and not directly reflected in the Group's financial statements as prepared under International Financial Reporting Standards and should not be considered as a substitute for GAAP financial measures. In addition, such non-GAAP financial measures may not be comparable to similarly titled information from other companies.

2Safran / Q1 2019 revenue / April 26, 2019

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1

Q1 2019 HIGHLIGHTS

Philippe PETITCOLIN - CEO

3Safran / Q1 2019 revenue / April 26, 2019

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Q1 2019 revenue highlights

5,781

+36.9%

4,222

+12.6%

org

(€M)

Q1 2018

Q1 2019

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Reported revenue at €5,781M, up 36.9%

Including positive scope (acquisition of Zodiac Aerospace) and currency (EUR/USD average spot rate) impacts

Strong organic revenue growth of 12.6%

Propulsion, Equipment and Defense activities contributed positively

Progressive recovery of Aircraft Interiors on track, notably as Seats resumed organic growth over the period

Excellent start to the year, reflecting broad-based positive momentum

4Safran / Q1 2019 revenue / April 26, 2019

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Update on CFM56 and LEAP programs

CFM engines deliveries (CFM56 and LEAP) up 15.9% to 577 units in Q1 2019

Continuing LEAP production ramp-up

424 LEAP delivered in Q1 19, up from 186 engines in Q1 18

Adjustment to the 737 MAX production rate announced by Boeing:

>CFM International has maintained the production rate for the LEAP-1B engine at this point and will engage in temporary adjustments if necessary

LEAP pulse line

LEAP commercial success

Total backlog of 15,329 LEAP, including 155 new ones in Q1 19

59% market share on A320neo family at March 31, 2019

CFM56 production ramp down as planned

153 CFM56 deliveries in Q1 2019, down from 312 in Q1 2018

On April, 8, 2019, the CFM56 fleet has surpassed 1 billion flight hours since the beginning of the program with 33,239 engines produced

CFM56-7B

5Safran / Q1 2019 revenue / April 26, 2019

This document and the information therein are the property of Safran. They must not be copied or communicated to a third party without the prior written authorization of Safran