easyJet: Response to Possible Offer for easyJet

easyJetAnnouncement

Today 07:00

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

THIS IS AN ANNOUNCEMENT UNDER RULE 2.4 OF THE UK CITY CODE ON TAKEOVERS AND
MERGERS (THE "CODE"). THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE,
NOR AS TO THE TERMS ON WHICH ANY OFFER MIGHT BE MADE. 

1 June 2026
easyJet plc
Response to Possible Offer for easyJet

The Board of easyJet plc (“easyJet” or the “Company”) notes the announcement
made by Castlelake, L.P. (“Castlelake”) on Friday, 29 May 2026, that it is in
the early stages of considering a possible offer for easyJet.

The Board of easyJet has not had any discussions with, nor received any
approach or proposal from Castlelake.

The Board is clear in its duty of aiming to maximise shareholder value and
will consider any proposal, should one be made. In any assessment, the Board
will be especially mindful of its valuation and deliverability.

| Valuation: the Board notes the highly opportunistic timing when easyJet’s
| share price is temporarily depressed due to the current situation in the
| Middle East and its impact on customer confidence and jet fuel prices.

| Deliverability: the Board notes the considerable regulatory, financial and
| other execution challenges associated with a potential takeover of easyJet.

easyJet is in a position of strength, underpinned by an investment grade
balance sheet with a net cash position, alongside strong customer satisfaction
and high employee engagement. The Board remains highly confident in easyJet’s
strategy and its ability to deliver attractive long-term value for
shareholders. The Company remains focused on executing its medium-term target
of delivering greater than £1 billion profit before tax.

There can be no certainty that an offer will be made, nor as to the terms on
which any offer might be made.

Shareholders are advised to take no action at this time.

In accordance with Rule 2.6(a) of the Code, Castlelake must, by not later than
5.00 p.m. on 26 June 2026, either announce a firm intention to make an offer
for the Company in accordance with Rule 2.7 of the Code or announce that it
does not intend to make an offer, in which case the announcement will be
treated as a statement to which Rule 2.8 of the Code applies. This deadline
will only be extended with the consent of the Panel on Takeovers and Mergers
in accordance with Rule 2.6(c) of the Code.

A further announcement will be made as and when appropriate.

The Company's LEI number is 2138001S47XKWIB7TH90.

For further details please contact easyJet plc:
Institutional investors and analysts:
Adrian Talbot Investor Relations +44 (0) 7971 592 373

Media:
Anna Knowles Corporate Communications +44 (0) 7985 873 313
Harry Cameron Teneo +44 (0) 7799 152 148

Additional Information

This announcement is not intended to, and does not, constitute or form part of
any offer, invitation or the solicitation of an offer to purchase, otherwise
acquire, subscribe for, sell or otherwise dispose of, any securities, or the
solicitation of any vote or approval in any jurisdiction, pursuant to this
announcement or otherwise.

This announcement has been prepared in accordance with English law and
information disclosed may not be the same as that which would have been
disclosed in accordance with the laws of jurisdictions outside England. The
release, publication or distribution of this announcement in whole or in part,
directly or indirectly, in, into or from certain jurisdictions may be
restricted by law. Therefore, any persons who are subject to the laws of any
jurisdiction other than the United Kingdom or shareholders of easyJet who are
not resident in the United Kingdom will need to inform themselves about, and
observe, any applicable requirements. Any failure to comply with the
restrictions may constitute a violation of the securities law of any such
jurisdiction.

Rule 2.9 disclosure

The Company confirms, in accordance with Rule 2.9 of the UK City Code on
Takeovers and Mergers, that as at the close of business on 29 May 2026, it had
in issue 758,010,025 ordinary shares of 27  2 /7 pence each with ISIN number
GB00B7KR2P84. The Company does not hold any shares in treasury.

The Company has a sponsored Level 1 American Depositary Receipt ("ADR")
programme for which JP Morgan Chase acts as depositary. Each ADR represents
one ordinary share of the Company. The ADRs are quoted on OTC. The trading
symbol for the ADRs is ESYJY and the ISIN is US2778562098.

Rule 26.1 disclosure

In accordance with Rule 26.1 of the Code, a copy of this announcement will,
subject to certain restrictions relating to persons resident in restricted
jurisdictions, be available on easyJet’s website at corporate.easyjet.com, by
no later than 12 noon (London time) on the business day following the date of
this announcement. For the avoidance of doubt, the content of the website
referred to in this announcement is not incorporated into and does not form
part of this announcement.

Disclosure requirements of the Code

Following this announcement, easyJet is now considered to be in an "offer
period" as defined in the Code, and the dealing disclosure requirements as set
out below will apply.

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of
any class of relevant securities of an offeree company or of any securities
exchange offeror (being any offeror other than an offeror in respect of which
it has been announced that its offer is, or is likely to be, solely in cash)
must make an Opening Position Disclosure following the commencement of the
offer period and, if later, following the announcement in which any securities
exchange offeror is first identified.

An Opening Position Disclosure must contain details of the person’s interests
and short positions in, and rights to subscribe for, any relevant securities
of each of (i) the offeree company and (ii) any securities exchange
offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) of
the Code applies must be made by no later than 3.30 pm (London time) on the
10th business day following the commencement of the offer period and, if
appropriate, by no later than 3.30 pm (London time) on the 10th business day
following the announcement in which any securities exchange offeror is first
identified. Relevant persons who deal in the relevant securities of the
offeree company or of a securities exchange offeror prior to the deadline for
making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1%
or more of any class of relevant securities of the offeree company or of any
securities exchange offeror must make a Dealing Disclosure if the person deals
in any relevant securities of the offeree company or of any securities
exchange offeror. A Dealing Disclosure must contain details of the dealing
concerned and of the person’s interests and short positions in, and rights to
subscribe for, any relevant securities of each of (i) the offeree company and
(ii) any securities exchange offeror(s), save to the extent that these details
have previously been disclosed under Rule 8. A Dealing Disclosure by a person
to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London
time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding,
whether formal or informal, to acquire or control an interest in relevant
securities of an offeree company or a securities exchange offeror, they will
be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by
any offeror and Dealing Disclosures must also be made by the offeree company,
by any offeror and by any persons acting in concert with any of them (see
Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant
securities Opening Position Disclosures and Dealing Disclosures must be made
can be found in the Disclosure Table on the Takeover Panel’s website at
www.thetakeoverpanel.org.uk, including details of the number of relevant
securities in issue, when the offer period commenced and when any offeror was
first identified. You should contact the Panel’s Market Surveillance Unit on
+44 (0) 20 7638 0129 if you are in any doubt as to whether you are required to
make an Opening Position Disclosure or a Dealing Disclosure