Safran : First-quarter 2021 revenue

FIRST-QUARTER 2021 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; the risks described in the Universal Registration Document (URD); the full impact of the outbreak of the COVID-19 disease.
  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.
• DEFINITION
  Civil aftermarket (expressed in USD): This non-accounting indicator (non-audited) comprises spares and MRO (Maintenance, Repair & Overhaul) revenue for all civil aircraft engines for Safran Aircraft Engines and its subsidiaries and reflects the Group's performance in civil aircraft engines aftermarket compared to the market.

2 Safran / Q1 2021 revenue / April 30, 2021

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Agenda

1. Q1 2021 business highlights
2. Q1 2021 revenue
3. Q&A
4. Additional information

3 Safran / Q1 2021 revenue / April 30, 2021

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1

Q1 2021 BUSINESS

HIGHLIGHTS

Olivier ANDRIES - CEO

4 Safran / Q1 2021 revenue / April 30, 2021

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Air traffic in early 2021 : bumpy with very different situations around the globe

Engine flight cycles and ASK

At a global scale: significant increase in flight cycles week after week until mid April but still at -42.5% for CFM engines flight cycles at the end of April.

Narrowbody ASK higher in April 2021 (data up to 25th) at 57.6% vs 2019 than in December 2020 (52.9% vs 2019), a recovery after the trough in February.

Safran's assumptions

Locations facing very different situations:

• global upsurge in new Covid cases, spread of variants and new quarantine measures,
• some countries close to zero case status, vaccine rollout at very different paces around the world

Weekly CFM engines flight cycles as of April 25th:

• China: after a trough in February, up 12.6% vs 2019.
• North America: down 29.5% vs 2019.
• Europe: still down 73.6% vs 2019.
• APAC ex China: steady improvement but still down 53.2% vs 2019.

Source : Safran

5 Safran / Q1 2021 revenue / April 30, 2021

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