Profit Warning

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

中國國際航空股份有限公司

AIR CHINA LIMITED

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 00753)

Profit Warning

This announcement is made by Air China Limited (the "Company") pursuant to Rule 13.09 and Rule 13.10B of The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong).

I. ESTIMATED RESULTS FOR THE PERIOD

(I) Results Estimation Period

1 January 2025 to 31 December 2025.

(II) Estimated Results

1. According to the preliminary estimation by the finance department of the Company, the Company is expected to record a loss for the year of 2025. It is expected that the net loss attributable to equity holders of the Company would be approximately RMB1.3 billion to RMB1.9 billion, and the net loss attributable to equity holders of the Company after deducting non-recurring profit or loss would be approximately RMB1.9 billion to RMB2.7 billion.

2. The estimated results have not been audited by certified accountants.

II. RESULTS FOR THE CORRESPONDING PERIOD OF THE PREVIOUS YEAR

(I) Total loss: RMB1.605 billion.

Net loss attributable to equity holders of the Company: RMB0.237 billion.

Net loss attributable to equity holders of the Company after deducting non-recurring profit or loss: RMB2.540 billion.

(II) Earnings per share: RMB-0.01.

III. MAJOR REASONS FOR THE ESTIMATED LOSS FOR THE PERIOD

In 2025, China's economy maintained overall stability with positive momentum, and the aviation industry continued its steady growth. The Company seized market opportunities and proactively responded to the new normal of industry development, deepening efforts to enhance quality and efficiency. The Company continuously optimized production organization, tapped into the potential of available aircraft resources to ensure effective capacity allocation, dynamically monitored market flows and balanced volume and pricing strategies to stabilize yield quality. The Company comprehensively strengthened cost control, reinforced a culture of prudent spending and reduced overall cost levels. Through dedicated efforts to boost production, strengthen operation and sustain growth, the Company's overall operational performance demonstrated increased investment, higher revenue and lower costs, consolidating a momentum of continuous improvement in operational quality. In strict compliance with the PRC Accounting Standards for Business Enterprises, the Company reassessed the carrying amount of deferred tax assets as of the balance sheet date and reversed a portion accordingly. The net profit attributable to shareholders of the Company is expected to record a loss for 2025.

IV. RISK ALERT

There are no uncertainties which will affect the accuracy of the estimated results of the Company.

V. OTHER INFORMATION

The above estimated results are only a preliminary estimation, and the detailed and accurate financial figures will be disclosed in the audited annual report of 2025 which will be formally published by the Company. Investors are reminded to pay attention to the investment risks.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.

By Order of the Board

Air China Limited

Xiao Feng

Company Secretary

Beijing, the PRC, 30 January 2026

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As at the date of this announcement, the directors of the Company are Mr. Liu Tiexiang, Mr. Wang Mingyuan, Mr. Cui Xiaofeng, Mr. Patrick Healy, Mr. Xiao Peng, Mr. Xu Niansha*, Mr. He Yun*, Ms. Winnie Tam Wan-chi* and Mr. Gao Chunlei*.

* Independent non-executive director of the Company