Air Cargo: What lies ahead? Randy Tinseth Vice President, Marketing Boeing Commercial Airplanes October 2016 The statements contained herein are based on good faith assumptions and are to be used for general information purposes only. These statements do not constitute an offer, promise, warranty or guarantee of performance.

Global market performance 2010 – 2015 2.6% 2.3% 1.6% GDP growth Trade growth Cargo traffic growth

Air cargo volumes in cyclical low -- closely linked to industrial production, world trade Industrial recovery crucial for air cargo growth SOURCE: Oxford Economics, FTKs: IATA, BCA

Forecast for modestly accelerating trade growth International good trade (2000=100) 4% in 2018+ GDP 3% SOURCE: International Monetary Fund, IHS World Trade Service, Economist Intelligence Unit, Oxford Economics

Air cargo market performance Historic Downturn Recovery Slowdown Outlook 2002-2007 5.6% Air Cargo 8.4% World Trade 2008-2013 1.7% Air Cargo 2.4% World Trade 2014 5.0% Air Cargo 3.6% World Trade 2015 2.2% Air Cargo 2.1% World Trade 2016- 2020 3.7% Air Cargo 3.6% World Trade SOURCE: Boeing and IHS Global Insight Trade Forecast dated September 2016

Percentage of world RTKs carried on freighters Dedicated freighters still carrying more than half of air cargo traffic Percentage of world RTKs carried on freighters SOURCES: IATA, ICAO, Company reports, Boeing research

World Air Cargo Forecast 2016-2017 media briefing Date: Wednesday, Oct 26th Time: 14.00 – 15.00 Location: ORY Room