Terms of the implementation of Air France - KLM reverse share split

Paris, 31 July 2023

Terms of the implementation of Air France - KLM reverse share split

Air France - KLM (the "Company") hereby gives details of the terms of the reverse share split which starts today by means of an exchange of 10 existing shares for 1 new share, as decided by the Board of Directors at its meeting on 4 July 2023 in accordance with the thirty-sixth extraordinary resolution of the Combined General Meeting of 7 June 2023.

This reverse share split is a purely technical exchange transaction with no direct impact on the total value of the Company's shares held by each shareholder.

Terms of the implementation of the reverse share split:

The terms of the reverse split were approved by the Board of Directors at its meeting of 4 July 2023,and are set out below and in the notice of reverse split published in the Bulletin des Annonces Légales Obligatoires (BALO) on 12 July 2023.

• Date of the beginning of the reverse share split: 31 July 2023.
• Basis of the reverse share split: exchange of 10 ordinary shares in the Company with a par value of 1 euro each for 1 new share with a par value of 1 euro (taking into account the concomitant capital reduction reducing the par value of each new share from 10 euros to 1 euro, i.e. a reduction of 9 euros per share allocated to the "share premium" account) with current dividend rights.
• Number of shares subject to the reverse split: 2,570,536,136 with a par value of 1 euro.
• Number of shares to be issued as a result of the reverse share split: 257,053,613 with a par value of 1 euro (taking into account the concomitant capital reduction).
• Exchange period: 30 (thirty) days from the start date of the reverse split, i.e. from 31 July 2023 to 30 August 2023 inclusive.
• Whole shares: the conversion of existing shares into new shares will be carried out according to the automatic procedure (procédure d’office).
• Fractional shares: shareholders who do not hold a number of existing shares corresponding to a whole number of new shares must personally buy or sell the fractional existing shares, in order to obtain a multiple of 10, up to and including 30 August 2023. Existing shares that have not been consolidated will be delisted at the end of the reverse split period. After this date, shareholders who have not been able to obtain a number of shares that is a multiple of 10 will be compensated by their financial intermediary within 30 days of 31 August 2023.
• Centralisation: all transactions relating to the reverse share split will be carried out by Société Générale Securities Services, 32 rue du Champ de Tir, CS 30812, 44308 Nantes Cedex 3, appointed as agent for the centralisation of reverse share split transactions.

Pursuant to Articles L. 228-6-1 and R. 228-12 of the French Commercial Code, at the latest at the end of a period of 30 days from 31 August 2023, the new shares that cannot be allocated individually and correspond to fractional rights will be sold on the stock market by the account holders and the proceeds of the sale will be allocated in proportion to the fractional rights of the holders of these rights.