EFTA01461864

9 June 2014 Airlines Delta Air Lines, Inc. Appendix 1 Important Disclosures Additional information available upon request Disclosure checklist Company Ticker Recent price• Disclosure Delta Air Lines, Inc. DAL.N 42.23 (USD) 6 Jun 14 7,8,14,15,SD11 'Prices are sourced from bad exchengos via Routers. Bloomberg and orrice vendors Data a goiNCOCI from NOW* Bank and subsea compendia Important Disclosures Required by U.S. Regulators Disclosures marked with an asterisk may also be required by at least one jurisdiction in addition to the United States. See Important Disclosures Required by Non-US Regulators and Explanatory Notes. 7. Deutsche Bank and/or its affiliate(s) has received compensation from this company for the provision of investment banking or financial advisory services within the past year. 8. Deutsche Bank and/or its affiliate(s) expects to receive, or intends to seek, compensation for investment banking services from this company in the next three months. 14. Deutsche Bank and/or its affiliate(s) has received non-investment banking related compensation from this company within the past year. 15. This company has been a client of Deutsche Bank Securities Inc within the past year, during which time it received non-investment banking securities-related services. Important Disclosures Required by Non-U.S. Regulators Please also refer to disclosures in the Important Disclosures Required by US Regulators and the Explanatory Notes. 7. Deutsche Bank and/or its affiliate(s) has received compensation from this company for the provision of investment banking or financial advisory services within the past year. Special Disclosures 11. Deutsche Bank AG and/or affiliate(s) is acting as advisor to Singapore Airlines on the proposed divestiture of their stake in Virgin Atlantic Airways Ltd. For disclosures pertaining to recommendations or estimates made on securities other than the primary subject of this research, please see the most recently published company report or visit our global disclosure look-up page on our website at http://gm.db.connkierklisclosure/Disclosure.egst?ricCode.DAL.N Analyst Certification The views expressed in this report accurately reflect the personal views of the undersigned lead analyst(s) about the subject issuer and the securities of the issuer. In addition, the undersigned lead analyst(s) has not and will not receive any compensation for providing a specific recommendation or view in this report. Michael Linenberg Page 4 Deutsche Bank Securities Inc. CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0124137 CONFIDENTIAL SDNY_GM_00270321 EFTA01461864