UAL

• Q2 2026 diluted EPS was $2.46; adjusted diluted EPS was $1.99.
• Pre-tax earnings were $1.0 billion with a pre-tax margin of 5.8%; adjusted pre-tax earnings were $843 million with an adjusted pre-tax margin of 4.8%.
• Full-year 2026 adjusted diluted EPS guidance raised to $9.00-$11.00.
• Fuel expense in Q2 was up $2.3 billion, or 84% year-over-year; company expects nearly $6 billion in added fuel expense for full-year 2026 versus start-of-year expectation.

2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• ALPA elected Captain Brian Noyes and IAM elected Richard Johnsen as directors for terms expiring in 2027.
• Stockholders ratified Ernst & Young LLP as independent auditor for fiscal year ending December 31, 2026.
• A nonbinding advisory resolution approving executive compensation was approved.
• A stockholder proposal regarding shareholder right to act by written consent was not approved.

5.07 Submission of Matters to a Vote of Security Holders

• On April 27, 2026, United Airlines Holdings issued a press release with a statement from CEO Scott Kirby.
• Kirby said the proposed merger would have focused on growth, customer investment, and global competitiveness, not cost cuts.
• He claimed the combined airline would have created tens of thousands of new unionized jobs and supported U.S. manufacturing.
• The press release was furnished under Item 7.01 Regulation FD and is not deemed filed for SEC purposes.

7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• Pre-tax earnings were $0.9 billion with a pre-tax margin of 6.0%, up 2.3 points year-over-year.
• Adjusted diluted earnings per share was $1.19, up 31% year-over-year, within initial guidance of $1.00 to $1.50.
• Company plans to reduce planned capacity by 5 points for the rest of 2026, with Q3 and Q4 capacity expected flat to up approximately 2% year-over-year.
• United paid down $3.1 billion in debt and raised $2 billion in unsecured bond issuances during the quarter.

2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• On February 6, 2026, United Airlines Holdings, Inc. issued $1,000,000,000 principal amount of 4.875% Senior Notes due 2029 in a public offering.
• UAL may redeem the notes at any time before December 1, 2028 at a make-whole redemption price, and on or after that date at 100% of principal plus accrued interest.
• Holders can require UAL to repurchase the notes at 101% of principal upon a Change of Control Triggering Event, subject to certain conditions.
• The notes were issued under an indenture supplemented by the Seventh Supplemental Indenture, and the offering was registered under UAL's automatic shelf registration statement.

1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 8.01 Other Events · 9.01 Financial Statements and Exhibits

• The notes are guaranteed by wholly-owned subsidiary United Airlines, Inc. and mature on March 1, 2031, with interest payable semi-annually starting September 1, 2026.
• UAL may redeem the notes at any time before September 1, 2030 at a make-whole redemption price, and at par plus accrued interest on or after that date.
• Holders can require UAL to repurchase the notes at 101% of principal upon a Change of Control Triggering Event, subject to certain conditions.
• The notes were issued under an indenture supplemented by the Sixth Supplemental Indenture dated February 2, 2026, with The Bank of New York Mellon Trust Company as trustee.

1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 8.01 Other Events · 9.01 Financial Statements and Exhibits

• Full-year 2025 diluted EPS was $10.20, up 8% year-over-year; adjusted diluted EPS was $10.62.
• Q4 revenue was $15.4 billion, the highest quarterly revenue in United history, up 4.8% year-over-year.
• Full-year 2025 revenue was $59.1 billion, up 3.5% year-over-year; pre-tax earnings were $4.3 billion with a 7.3% margin.
• Company expects to generate a similar level of free cash flow in 2026 as the $2.7 billion generated in 2025.
• Government shutdown impacted Q4 pre-tax earnings by approximately $250 million.

2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• Q3 2025 diluted EPS was $2.90; adjusted diluted EPS was $2.78, above the guidance range of $2.25 to $2.75.
• Q4 2025 adjusted diluted EPS guidance is $3.00 to $3.50, with expected highest total operating revenue for a single quarter in company history.
• Customer investments are on track to exceed $1 billion in 2025, with over $1 billion more planned for 2026.
• The company prepaid the remaining $1.5 billion of MileagePlus bonds, fully repaying all debt secured by the MileagePlus business.

2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits