Fast track THE RECOVERY

1 Annual Report and Accounts 2021 Fast track THE RECOVERYN avigating 2021 The 2021 financial year has been volatile with Covid-19 posing the most significant threat to the aviation industry in its history. Our business model and actions undertaken in the year mean that we are poised to take advantage of growth opportunities in the has an outstanding network of #1 and #2 positions in the primary airports around Europe, which customers favour. Customers are increasingly looking for value for money and are prioritising leisure travel, where we are particularly well were the world s first major airline to offset the carbon emissions from the fuel used for all flights and we continue to work tirelessly to minimise carbon across our operations. Who we areVISIT OUR WEBSITE FOR MORE INVESTOR aims to make travel easy, enjoyable and affordable for customers, whether it is for leisure or business.

2 We use our cost advantage and leading positions in primary airports to deliver low fares on an unrivalled network, seamlessly connecting Europe with the warmest welcome in the sky. Our well-established and proven business model provides a strong foundation to drive long term shareholder returns. Our promise is that we will be:Safe and responsibleOn our customers sideIn it togetherAlways efficientForward thinkingJohn BartonShortly after the signing of the annual report and accounts on 30 November 2021, John Barton sadly passed away. John was our Chairman for nearly nine years, and only stepped down from the Board on 1 was a man of great integrity who was very much respected and liked by everyone across the Company. He was a distinguished Chair and made an outstanding contribution to the Company during his behalf of all of his former colleagues at easyJet and the Board, we send our heartfelt sympathies to John's family.

3 He will be remembered with greatest respect and December 2021A Tribute from the Board of DirectorsWhat s insideStrategic reportChairman s Letter2 Highlights4 Purpose6 Chief Executive s Review8 Business Model12 Interview With Our Chairman, CEO, and CFO14 Market Review16 Our Strategy18 Key Performance Indicators24 Stakeholder Engagement26 Sustainability38 Non-Financial Information Statement62 Financial Review66 Risk78 GovernanceChairman s Statement on Corporate Governance96 Board of Directors98 Airline Management Board102 Corporate Governance Report105 Directors Remuneration Report130 Directors Report154 Statement of Directors Responsibilities 158 FinancialsIndependent Auditors Report to the Members of easyJet plc159 Consolidated Accounts 170 Notes to the Accounts 175 Company Accounts 213 Notes to the Consolidated Company Accounts216 Five-Year Summary 219 Glossary Alternative Performance Measures 220 Glossary 222 Shareholder S LETTERP ositioned for successThe pandemic continued to cast a shadow over the whole aviation sector throughout the

4 2021 financial year with easyJet being unable to operate its fleet to anywhere near its full potential. This has put the whole company under considerable stress both operationally and financially. Operationally we have continued to put a disciplined focus on cash generative flying, which has made running the flight schedule extremely challenging and clearly has had some impact on our customers. Financially we continued, in the early part of the year, to raise money through sale and leaseback deals on our largely owned fleet and increased borrowings. Of course, this put everyone in the business under pressure, added to which the necessary redundancy programme has made navigating our way through the year very challenging. Despite these difficult times easyJet has maintained focus on preparing for post-pandemic conditions and driving the business continued restrictions on travel imposed by governments in response to Covid-19 have had a devastating impact on air travel.

5 Our focus has been on cash generative flying to minimise cash burn while there was continued uncertainty due to the constantly changing environment. Travel restrictions were eased across much of Europe for the summer period where easyJet successfully maintained a rapid approach to match capacity to available demand, especially across UK domestics and mainland Europe. The relaxation of restrictions in the fourth quarter was positive for easyJet, showing that the industry is moving forward and that easyJet is playing a significant role in this, with encouraging capacity levels and positive load factor momentum throughout the summer period. Capacity levels versus the 2019 financial year in the quarters were 18%, 9%, 17% and 58% which demonstrates the momentum building in the fourth for the full year decreased to 1,458 million (2020: 3,009 million).

6 The Group reported a headline loss before tax of 1,136 million (2020: 835 million) and basic headline loss per share of pence (2020: pence). Total loss before tax of 1,036 million (2020: 1,273 million) and a non-headline gain of 100 million (2019: 438 million loss) led to basic total loss per share of pence (2020: pence). Our strong business model, liquidity and unparalleled network mean we are well positioned for growth as we enter the RECOVERY . John BartonNon-Executive ChairmanDividendseasyJet s dividend policy has been to pay shareholders 50% of headline profit after tax. Given that we made a loss this year, there will be no dividend paid for the 2021 financial year (2020: nil). The dividend policy will be reviewed by the Board during the 2022 financial year. Balance SheetAs we went through the first part of the year, the balance sheet came under pressure as we borrowed a significant amount.

7 Despite this, we managed to maintain an investment grade balance sheet with the ratings agencies. The rights issue in September considerably reduced this pressure, although not returning us all the way back to our position pre-pandemic. The rights issue had a take up rate of over 93% which is an indication of the market s confidence in the financial strength of the plc Annual Report and Accounts 2021 Our BoardThere have been a number of changes to our Board during the year. Andrew Findlay stood down as Chief Financial Officer in February 2021, and we welcomed Kenton Jarvis as his successor. David Robbie joined the Board as an Independent Non-Executive Director in November 2020, and Charles Gurassa, Moya Greene DBE and Dr Anastassia Lauterbach stood down as Independent Non-Executive Directors in December 2020.

8 Following a thorough search led by the Nominations Committee, Stephen Hester joined us as an Independent Non-Executive Director and Chair designate on 1 September 2021 and will succeed me as Chair on 1 December 2021. This will therefore be my last report as your Chair, having served for nearly nine years on the Board. It has been a privilege to serve as Chair over that time, and I am proud of how easyJet has not only navigated through the pandemic but has adapted and built back stronger leaving it extremely well positioned for the future. I am delighted to handover to someone of Stephen Hester s calibre, and have been working closely with him to ensure that there is a smooth transition. Further details of these changes are included in the Governance report on page 96. Our peopleNo praise can be high enough for our employees.

9 They have navigated us through the most difficult period the aviation industry has ever seen. The pressure has been at every level in the company and I am extremely grateful for the hard work and dedication all of our employees have given to have also been a number of changes to the Airline Management Board. As mentioned above, we welcomed Kenton Jarvis as Chief Financial Officer, Stuart Birrell was appointed as Chief Data & Information Officer on 9 November 2020 and Sophie Dekkers was appointed Chief Commercial Officer on 16 December 2020. The Governance report on pages 102 to 104 sets out further detail on their overall sustainability goal is to lead and challenge global aviation towards net zero emissions while positively impacting our communities and our people. We continue to lead on this, as we committed to joining the Race to Zero while continuing to work on our Net Zero pathway to were the world s first major airline to offset the carbon emissions from the fuel used for all of our flights, and we continue to work tirelessly to minimise the carbon impact of our operations.

10 We are supporting the development of new technologies including hybrid, electric and hydrogen aircraft so we can play our part in reinventing aviation to be more sustainable in the future. I am pleased with the progress that I have seen during the year, for example, at Bristol where we achieved a 97% reduction in CO2 emissions during our emissions-free turnaround trial. The futureThis is my last Annual Report before I hand over to Stephen Hester. I feel I am leaving easyJet is in a strong position having navigated some stormy waters. The future is still unclear with the aftermath of Covid-19 still with us, however I believe our unique and established position in the industry and our strong financials has put easyJet is a great position to drive strong shareholder returns in the future. John BartonNon-Executive ChairmanNo praise can be high enough for our employees.