UNIVERSAL REGISTRATION DOCUMENT 2020

1 UNIVERSAL R EG I S T R AT I O N DOCUMENT 2020 INCLUDING THE ANNUAL FINANCIAL REPORT 1 PRESENTATION OF THE AIR FRANCE KLM GROUP Market and environment Strategic outlook Activities in 2020 The Air France KLM Group fleet 422 CORPORATE GOVERNANCE REPORT Composition of the Board of Directors Organization and functioning of the Board of Directors Activities and functioning of the Board of Directors and its Committees Summary table of the AFEP-MEDEF Code s comply or explain recommendations not applied Compensation of the company officers CEO Committee Group Executive Committee Share capital and shareholder structure 1173 RISKS AND RISK MANAGEMENT Risk factors Enterprise risk management Organization and functioning of internal control 1534 CORPORATE SOCIAL RESPONSIBILITY EXTRA-FINANCIAL PERFORMANCE STATEMENT Creating long-term value for all our stakeholders Human resources Environmental impact Customer trust Ethics and compliance Societal value Report by one of the Statutory Auditors, appointed as Independent Third Party.

2 On the consolidated non-financial statement 2315 FINANCIAL REPORT Investments and financing Comments on the financial statements Key financial indicators Subsequent events and outlook for 2021 Consolidated financial statements Notes to the consolidated financial statements Statutory auditors' report on the consolidated financial statements Statutory financial statements Five-year results summary Statutory Auditors report on the financial statements Statutory Auditors Special Report on Related-Party Agreements 3676 OTHER INFORMATION History General information Information on the agreements concluded in connection with the business combination between Air France and KLM Legislative and regulatory environment for the air transport industry Information and control 3807 GLOSSARIES AND TABLES OF CONCORDANCE 383 Air transport glossary 384 Financial glossary 387 Table of concordance for the UNIVERSAL REGISTRATION DOCUMENT 388 Information included by reference 391 Table of concordance for the Annual Financial Report 392 MESSAGE FROM THE CHIEF EXECUTIVE OFFICER 2 SELECTED FINANCIAL INFORMATION 4 HIGHLIGHTS OF THE 2020 FINANCIAL YEAR 6 HIGHLIGHTS OF THE BEGINNING OF THE 2021 FINANCIAL YEAR 9 The components of the Annual

3 Financial Report are identified in the index by the following pictogram AFR AFRAFRAFRAFRAFRAFRAFR2020 UNIVERSAL REGISTRATION DOCUMENT Air France - KLM1 UNIVERSAL R EG I S T R AT I O N DOCUMENT 2020 INCLUDING THE ANNUAL FINANCIAL REPORTAIR FRANCE KLMGROUP PROFILEIn its principal businesses of passenger and cargo transportation, low-cost operations and aircraft maintenance, Air France KLM is a leading global DOCUMENT d enregistrement universel was filed with the Autorit des March s Financiers (AMF) on April 7, 2021, as competent authority under Regulation (EU) 2017-1129, without prior approval pursuant to Article 9 of the said DOCUMENT d enregistrement universel may be used for the purposes of an offer to the public of securities or the admission of securities to trading on a regulated market if completed by a securities note and, if applicable, a summary and any amendments to the DOCUMENT d enregistrement universel.

4 The resulting whole is approved by the AMF in accordance with Regulation (EU) DOCUMENT d enregistrement universel including the Rapport financier annuel is a reproduction of the official version of the DOCUMENT d enregistrement universel including the Rapport financier annuel which was established in xHTML and filed with the Autorit des March s Financiers on April 7, UNIVERSAL REGISTRATION DOCUMENT is an unofficial translation of the DOCUMENT d enregistrement universel. In the event of any ambiguity or discrepancy between this unofficial translation and the DOCUMENT d enregistrement universel, the French version shall updated on April 23, 2021 Cf. France - KLM 2020 UNIVERSAL REGISTRATION Document2 MESSAGE FROM THE CHIEF EXECUTIVE OFFICERDear Shareholders,2020 was undoubtedly a difficult year for all of us, on both a professional and a personal level.

5 The Covid-19 pandemic continues to disrupt our lives. In its long history, this is the most severe crisis ever experienced by Air France KLM and by the airline industry as a whole. Our 2020 financial results confirmed the crisis developed, Air France, KLM, Transavia, HOP! and KLM Cityhopper demonstrated their strategic national and European importance, which has been our true strength since our creation. We repatriated our fellow French, Dutch and European citizens, reuniting them with friends and family. Our Cargo teams continue to transport medical equipment and vaccines to combat the epidemic. We have maintained vital links for people, trade and the beginning of the crisis, we worked closely with our two main shareholders, the French and Dutch governments, to obtain their financial support to help us weather the effects of an extraordinary crisis.

6 With this support comes a major responsibility: that of achieving a successful transformation to return to an adequate level of profitability while accelerating our transition towards a sustainable aviation have defined a clear strategy for the Air France KLM Group to adapt to a changed world, with one sole objective: return to our path towards leadership. Right from the start, we implemented the decisive actions vital to our survival from this crisis: very strict cost control, a reduction in CAPEX, the early phase-out of the Boeing 747s at KLM and the Airbus A340s and A380s at Air France, the implementation of wage support programs at both Air France and KLM, together with Voluntary Departure Plans for the two companies. In total, more than 200 transformation and operational efficiency projects were launched within the Group and the airlines in 2020.

7 IN A SECTOR THAT HAS BEEN LEFT REELING, IT IS THE AIR FRANCE KLM GROUP OF TOMORROW THAT WE MUST BUILD AS OF TODAY. AIR FRANCE KLM IN 20202020 UNIVERSAL REGISTRATION DOCUMENT Air France - KLM 3 The Air France KLM Group has unique and undeniable assets to help traverse this crisis: our people with proven professionalism and expertise, the dual strategic and powerful hubs of Paris-Roissy Charles de Gaulle and Amsterdam-Schiphol, three historic and highly-differentiated brands with Air France, KLM and Transavia, and an extensive and diversified network of destinations which contributes to the performance of the Group s a sector that has been left reeling, it is the Air France KLM Group of tomorrow that we must build as of today.

8 Customer expectations will be different with a greater focus on the environmental and societal responsibility, on the health and safety, which has gradually become part of our everyday practice, and an increased need for commercial France KLM is also committed to playing a pioneering role in sustainable aviation, in both the ground and flight operations. The Group is redoubling its efforts to reduce its environmental footprint and achieve its target of a 50% reduction in CO2 emissions by 2030. In particular, it is contributing to the establishment of a sustainable biofuel industry for will continue to play a major role in the years to come. I have every confidence in our ability to rise to the challenges of our industry. Air France KLM s 76,000 employees are fully committed to making our Group a leader in European SmithChief Executive Officer of Air France KLM34 MILLION PASSENGERS900kTONS OF CARGO546 AIRCRAFT300 DESTINATIONS 116 COUNTRIES SERVED 2,800 AIRCRAFT MAINTAINED FOR 200 AIRLINE CUSTOMERSAIR FRANCE KLM IN 2020 Air France - KLM 2020 UNIVERSAL REGISTRATION Document4 Network 83%Maintenance 11%Transavia 5%SELECTED FINANCIAL INFORMATIONP ursuant to Article of Regulation (EC) No.

9 2017/1129, the following information is incorporated by reference in this UNIVERSAL REGISTRATION DOCUMENT (see also section Financial indicators ): the consolidated financial statements of the Air France KLM Group relating to the financial year ended December 31, 2019 and the relevant Statutory Auditors Report, as published in sections to in chapter 5 of the Air France KLM Group s 2019 UNIVERSAL REGISTRATION DOCUMENT ; the consolidated financial statements of the Air France KLM Group relating to the financial year ended December 31, 2018 and the relevant Statutory Auditors Report, as published in sections to in chapter 5 of the Air France KLM Group s 2018 REGISTRATION (in billion)Revenue breakdownIncome/(loss) from current operations(in billion)Revenues stood at billion, down by 59% versus 2019, due to the impact of the Covid-19 result from current operations stood at ( ) billion, down by billion versus 2019, due to the impact of the Covid-19 ( )201920202020 UNIVERSAL REGISTRATION DOCUMENT Air France - KLM 5 The net result, Group part stood at ( )

10 Billion, down by billion versus debt stood at billion at December 31, 2020, up by billion versus the previous net debt/EBITDA ratio was not applicable at December 31, 2020 due to the Group s negative EBITDA in 2020, Group generated operating free cash-flow of ( ) billion, down by billion versus the previous year. This decline is mainly explained by a decrease in net cash-flow from operating return on capital employed (ROCE) stood at ( ) % in 2020 due to the significant fall in the operating result for the financial year.(1) The ROCE definition has been revised to take into account the activity s seasonal ( ) ( )( ) ( )%20192020 Net result, Group part(in billion)Net debt(in billion)Debt ratio(at December 31)Adjusted operating free cash-flow(in billion)Return on Capital Employed (ROCE) (1)(at December 31)