Air China Limited provided earning guidance for the period 1 January 2022 to 31 December 2022. According to the preliminary estimation by the finance department of the Company, the Company recorded a loss for the year of 2022. It is expected that the net loss attributable to equity holders of the Company would be approximately RMB 37.0 billion to RMB 39.5 billion, and the net loss attributable to equity holders of the Company after deducting non-recurring profit or loss would be approximately RMB 37.2 billion to RMB 39.9 billion. The estimated results have not been audited by certified accountants. Net loss attributable to equity holders of the Company: RMB 16.642 billion. Net loss attributable to equity holders of the Company after deducting non-recurring profit or loss: RMB 17.056 billion. Earnings per share: RMB-1.21. In 2022, due to the continued impact of COVID-19 pandemic, passenger travel demand
remained low. The markets of the main bases of the Company suffered repeated impacts of the pandemic. In particular, the capacity and total traffic in Beijing market have fallen to the lowest level since the start of the pandemic. Meanwhile, due to multiple adverse factors such as high oil prices and exchange rate fluctuations, it is more difficult for the Company to improve its operation, and the invested enterprises related to the main business were also seriously affected. In the face of pandemic, the Company has been determined to control losses and extricate itself from difficulties, coordinating overall arrangements for safe operation, pandemic prevention and control, production and operation to maintain the overall stability of business situation. The Company has taken measures such as maintaining production scale, articulating marketing control, insisting on passenger and cargo linkage, tightening cost control and strengthening capital coordination, so as to minimize the adverse impact caused by the pandemic. There are no uncertainties which will affect the accuracy of the estimated results of the Company.