WIXLIB

Company IntroductionAs a member of SkyTeam Airline Alliance, the Group has extended its flight network from Shanghai to 1,150 destinationsin 175 countries via close cooperation with SkyTeam Airline Alliance member airlines. Our Eastern Miles frequent flyerprogram now has 39.63 million members.Headquartered in Shanghai, the Company is one of China’s three major state-owned airlines. It originated from the first squadronestablished by former Civil Aviation Administration of Shanghai in January, 1957. The Company was the first Chinese airline to be listedon the New York, Hong Kong and Shanghai stock markets in 1997.As at the end of 2018, the Group operated a modernized fleet comprised of 692 passenger aircraft, including 12 business aircraftheld under trust, with an average fleet age of 5.7 years for the major models, being one of the youngest and the most advanced fleetamong the global large-size international airlines. As a member of SkyTeam Airline Alliance, the Group has extended its flight network to175 countries around the world and 1,150 destinations. Passenger capacity exceeded 120 million in 2018. Members of “Eastern Miles”can enjoy members’ benefits and use any one of the 750 VIP airport lounges of all of the 19 SkyTeam Airline Alliance member airlinesacross the world.The Group has been striving to build a world-class excellent modern integrated aviation services provider that is “Cherished by Staff,Preferred by Customers, Satisfied by Shareholders and Trusted by Society”. As at the end of 2018, the Company was awarded the“China Securities Golden Bauhinia Award” for seven consecutive years, recognized as one of the “Top 50 Most Valuable ChineseBrands” by Wire & Plastic Products Group (WPP) for seven consecutive years, the world’s largest brand communication group, andawarded as one of the “World’s 500 Most Valuable Brands” by the famous brand appraisal organization Brand Finance for threeconsecutive years. In 2018, the Company was granted awards such as “The Most Favoured Domestic Business First-class” by Chinesehigh net worth individuals, “Best China Airline”, “Best Employer Award in Aviation Industry” and “Top Ten Social Responsibility CentralEnterprises Model” by various authoritative institutions.With the concept of “World-Class Hospitality with Eastern Charm”, the Group will create splendid travel experiences for globalcustomers with “Accurate, Exquisite and Refined” service quality.5

Company ProfileCompany InformationChinese name of the ated Chinese name of the Company東方航空English name of the CompanyChina Eastern Airlines Corporation LimitedAbbreviated English name of the CompanyCEALegal representative of the CompanyLiu ShaoyongBasic ProfileRegistered address of the Company66 Airport Street, Pudong New District, Pudong International Airport,ShanghaiPostal code of the Company’s registered address201202Place of business of the Company36 Hongxiang 3rd Road, Minhang District, ShanghaiPostal code of the Company’s place of business201100The Company’s websitewww.ceair.comMobile application (APP)東方航空Mobile websitem.ceair.comEmail addressir@ceair.comService hotline 86 95530Sina Weibohttp://weibo.com/ceairWeixin public subscription ID東方航空訂閱號Weixin IDdonghang gwWeixin QR codeShares of the CompanyA shares Place of listing: The Shanghai Stock ExchangeAbbreviation: CEAH shares Place of listing: The Hong Kong Stock ExchangeAbbreviation: China East AirCode: 600115Code: 00670ADR Place of listing: NYSEAbbreviation: China EasternCode: CEAOther Relevant InformationDomestic auditor engaged by the CompanyNameErnst & Young Hua Ming LLPOffice addressLevel 16, Ernst & Young Tower,Oriental Plaza, No. 1 East Chang An Avenue,Dong Cheng District, Beijing, ChinaSigning accountantsInternational auditor engaged by the Company NameOffice address6China Eastern Airlines Corporation Limited2018 Annual ReportDavid Meng, Ji YutingErnst & Young22/F, CITIC Tower, 1 Tim Mei Avenue,Central, Hong Kong

Company ProfileAs at 29 March 2019DIRECTORSLEGAL ADVISERSLiu Shaoyong (Chairman)Hong Kong: Baker & McKenzieLin Wanli (Independent Non-executive Director)China: Beijing Commerce & Finance Law OfficeLi Ruoshan (Independent Non-executive Director)USA: Baker & McKenzieMa Weihua (Independent Non-executive Director)Shao Ruiqing (Independent Non-executive Director)PRINCIPAL BANKSCai Hongping (Independent Non-executive Director)Industrial and Commercial Bank of China, Shanghai BranchYuan Jun (Employee Representative Director)China Construction Bank, Shanghai BranchThe Bank of China, Shanghai BranchSUPERVISORSAgricultural Bank of China, Shanghai BranchXi Sheng (Chairman of the Supervisory Committee)(Former name: Xi Xingwang)SHARE REGISTRARGao Feng (Employee Representative Supervisor)Hong Kong Registrars LimitedLi Jinde (Supervisor)Rooms 1712–1716, 17th Floor, Hopewell Centre,183 Queen’s Road East, Wan Chai, Hong KongSENIOR MANAGEMENTLi Yangmin (President)The Bank of New York MellonTang Bing (Deputy Secretary of Party Committee)240 Greenwich StreetTian Liuwen (Vice President)New York, NY 10286 USAWu Yongliang (Vice President, Chief Financial Officer)Feng Liang (Vice President)China Securities Depository and Clearing Corporation Limited,Feng Dehua (Vice President)Shanghai BranchJiang Jiang (Vice President)3/F, 166 East Lu Jiazui Road, Pudong New District, ShanghaiWang Jian (Board Secretary, Company Secretary)PRINCIPAL PLACE OF BUSINESS IN HONG KONGCOMPANY SECRETARYUnit D,19/F, United Centre, 95 Queensway, Hong KongWang JianAUTHORIZED REPRESENTATIVELiu ShaoyongWang Jian7

Financial Highlights(Prepared in accordance with International Financial Reporting Standards)Expressed in RMB 23,085(32,506)(77,427)58,008Year ended 31 DecemberRevenuesOther operating income and gainsGain/(loss) on fair value changes of derivative financial instrumentsOperating expensesOperating profitFinancial income/(costs), netProfit before income taxProfit for the year attributable to the equity holders ofthe CompanyEarnings per share attributable to the equity holders ofthe Company (RMB)(1)At 31 DecemberCash and cash equivalentsNet current liabilitiesNon-current assetsNon-current borrowings, including current portionObligations under finance leases, Including current portionEquity attributable to the equity holders of the Company(1) The calculation of earnings per share for 2014 is based on the net profit attributable to the equity holders of the Company divided by the weightedaverage number of 12,674,269,000 ordinary share in issue. The calculation of earnings per share for 2015 is based on the net profit attributable to theequity holders of the Company divided by the weighted average number of 12,818,509,000 ordinary share in issue. The calculation of earnings pershare for 2016 is based on the net profit attributable to the equity holders of the Company divided by the weighted average number of 13,811,136,000ordinary share in issue. The calculation of earnings per share for 2017 is based on the net profit attributable to the equity holders of the Companydivided by the weighted average number of 14,467,585,682 ordinary share in issue. The calculation of earnings per share for 2018 is based on the netprofit attributable to the equity holders of the Company divided by the weighted average number of 14,467,585,682 ordinary share in issue.RevenuesOperating Profit(RMB millions)(RMB 4759,4319,3096,05820148201520162017China Eastern Airlines Corporation Limited20182018 Annual Report20142015201620172018

Summary of Accounting and Business Data(Prepared in accordance with PRC Accounting Standards)Profit for the year ended 31 December 2018RMB MillionNet profit2,941Income from main operations, net11,372Income from other operations, net1,151Income from investments238Non-operating income, net909Major Accounting Data & Financial Indicators(RMB ,76556,51859,3521.Operation Revenue2.Net profit attributable to the equity holders of the Company3.Total Assets4.Shareholders’ equity5.Earnings per share (RMB)0.440.196.Net assets per share (RMB)3.473.76Note:1.Calculation of major financial indicators:Earnings per share profit attributable to the equity holders of the Company weighted average number of ordinary shares outstandingNet assets per share shareholders’ equity at the end of the year weighted average number of ordinary shares outstanding9

Summary of Major Operating DataAs at 31 910.10%Passenger transportation dataASK (available seat – kilometres) (millions)— Domestic routes— International routes— Regional routesRPK (revenue passenger – kilometres) (millions)— Domestic routes— International routes— Regional routesNumber of passengers carried (thousands)— Domestic routes— International routes— Regional routesPassenger load factor (%)82.2981.061.23pts— Domestic routes83.6782.960.71pts— International routes79.7277.731.99pts— Regional routes82.9979.993.00pts0.5400.5213.65%Passenger – kilometres yield (RMB)(including fuel surcharge)Note 10.5610.5394.08%— Domestic routes0.4860.4703.40%— International routes0.7300.7240.83%(excluding fuel surcharge)Note 10.5000.4862.88%— Domestic routes0.5540.5392.78%— International routes0.3840.3703.78%— Regional routes0.6700.6552.29%— Regional routesPassenger – kilometres yield (RMB)10China Eastern Airlines Corporation Limited2018 Annual Report

Summary of Major Operating DataAs at 31 December20172017 (non-(comparablecomparable2018basis)Note 2Changebasis)Note 2(millions)7,900.786,796.9816.24%7,057.28— Domestic routes2,740.722,275.2620.46%2,277.61— International -4.84%44.73915.12894.262.33%933.33— Domestic routes644.89645.88-0.15%647.86— International 6Freight load factor (%)32.7636.17-3.41pts37.73— Domestic routes32.3339.30-6.97pts39.32— International routes33.5535.15-1.60pts37.52— Regional routes18.3920.92-2.53pts23.85Freight transportation dataAFTK (available freight tonne – kilometres)— Regional routesRFTK (revenue freight tonne – kilometres)(millions)— Domestic routes— International routes— Regional routesWeight of freight carried (million kg)— Regional routesFreight tonne-kilometres yield (RMB)(including fuel surcharge)Note 11.4011.363— Domestic routes1.1161.100— International routes1.4651.444— Regional routes5.5703.555Freight tonne-kilometres yield (RMB)(excluding fuel surcharge)Note 11.385N/AN/A1.295— Domestic routes1.0941.012— International routes1.4551.388— Regional routes5.4563.37611

Summary of Major Operating DataAs at 31 December20172017 (non-(comparablecomparable2018basis)Note 2Changebasis)Note 2ATK (available tonne – kilometres) (millions)29,936.4727,136.6410.32%27,396.94— Domestic routes16,606.0614,971.2910.92%14,973.65— International 9.59500.65456.919.57%464.66Overall load factor (%)68.0168.73-0.72pts68.83— Domestic routes73.8775.15-1.28pts75.14— International routes60.4160.63-0.22pts61.02— Regional routes65.4564.161.29pts64.28Consolidated data— Regional routesRTK (revenue tonne – kilometres) (millions)— Domestic routes— International routes— Regional routesRevenue tonne-kilometres yield (RMB)(including fuel surcharge)Note 15.5255.254— Domestic routes5.9715.698— International routes4.6324.392— Regional routes8.1057.756Revenue tonne-kilometres yield (RMB)(excluding fuel surcharge)Note 15.124N/AN/A— Domestic routes5.8955.691— International routes3.7223.514— Regional routes7.4607.037Notes:1.In calculating unit revenue index, the relevant revenue includes income generated from co-operation routes.2.Under comparable basis, the operating data in 2017 did not include the whole cargo freight data of the Group in January 2017; andUnder non-comparable basis, the operating data in 2017 comprised of the whole cargo freight data of the Group in January 2017.124.900China Eastern Airlines Corporation Limited2018 Annual Report

Fleet StructureThe Group has been continuously optimising its fleet structure in recent years. In 2018, the Group introduced a total of 67 aircraft ofmajor models and a total of 14 aircraft retired. With the introduction of new aircraft, such as A350-900, B787-9 and A320NEO, and theretirement of B767 aircraft, the Group’s fleet age has been made younger.As at 31 December 2018, the Group operated a fleet of 692 aircraft, which included 680 passenger aircraft and 12 business aircraftheld under trust.Fleet structure as at 31 December 2018(Units)UnderUnderoperatingSelf-ownedfinance leaseleaseSub-totalage A350-9004A330 seriesTotal number of wide-body aircraft5A320 seriesAverage 7 seriesTotal number of narrow-body aircraft78204962091161842905975.15.9Total number of passenger aircraft2302601906805.7Total number of business aircraftheld under trustTotal number of aircraft12692Note: A330 series aircraft includes A330-200 aircraft and A330-300 aircraft;A320 series aircraft includes A319 aircraft, A320 aircraft, A320NEO aircraft and A321 aircraft; andB737 series aircraft includes B737-700 aircraft, B737-800 aircraft and B737 MAX 8 aircraft.13

Fleet StructureMajor OperationsModelB777-300ERB787-9A350-900A330 seriesA320 seriesB737 seriesPassengertraffic volume(10 thousand)Passengerload factor(%)Overallload factor(%)Daily 0656.5674.2176.4714.819.307.8712.029.448.53Fleet ConditionAs at 31 December 2018, the Group operated a total of 692 passenger aircraft, including 12 business aircraft held under trust. Thedetails of each model are as follows:ModelForm of tenureB777-300ERNumber ofaircraft(end of theReporting Period)Averagefleet ageDaily utilisation(hours)Paid ,099.96108,098.48Self-ownedUnder finance leaseTotalModelForm of tenureB787-9Number ofaircraft(end of theReporting Period)Averagefleet ageDaily utilisation(hours)Paid flighthour440.20.29.309.303,087.183,087.18Under finance leaseTotalModelForm of tenureA350-900Number ofaircraft(end of theReporting Period)Averagefleet ageDaily utilisation(hours)Paid flighthour220.10.17.877.87346.08346.08Under finance leaseTotal14China Eastern Airlines Corporation Limited2018 Annual Report

Fleet StructureModelA330 seriesForm of tenureNumber ofaircraft(end of theReporting Period)Averagefleet ageDaily utilisation(hours)Paid ,840.63143,970.477,108.91231,920.01Self-ownedUnder finance leaseUnder operating leaseTotalNote: A330 series aircraft included A330-200 and A330-300 aircraftModelA320 seriesForm of tenureNumber ofaircraft(end of theReporting Period)Averagefleet ageDaily utilisation(hours)Paid dUnder finance leaseUnder operating leaseTotalNote: A320 series aircraft included A319, A320, A320NEO and A321 aircraftModelB737 seriesForm of tenureNumber ofaircraft(end of theReporting Period)Averagefleet ageDaily utilisation(hours)Paid der finance leaseUnder operating leaseTotalNote: B737 series aircraft included B737-700, B737-800 and B737 MAX 8 aircraftIntroduction and Retirement Plan of Aircraft for 2019 to uctionRetirement2021Introduction4—RetirementA350 SeriesA330 SeriesA320 SeriesB787 SeriesB737 0—212————10Total60161101810Notes:1.As at 31 December 2018, according to confirmed orders, the Group planned to introduce 23 aircraft and retire 17 aircraft in 2022 and future years.2.The abovementioned models, quantity and timing for the introduction and retirement of aircraft will be subject to adjustment based on marketconditions and flight capacity allocation of the Group.15

MilestonesFirst Airline to Allow the Use of Mobile Phones on BoardCEA was the first airline in the civil aviation industry to officially issue the “Announcement on the Regulations on theUsage of Portable Electronic Devices in the CEA Aircraft” ��範的公告》) toannounce the removal of prohibition of the use of mobile phones when on board to mark a revolutionary beginning in theon-board routines in the Chinese civil aviation industry.All the Way Up with Buzz LightyearThe painted aircraft on the theme of “Disney Toy’s Story”, showing the best-known characters from Toy’sStory, such as Buzz Lightyear and Sheriff Woody, has started its first flight. This has been the third paintedaircraft on themes launched pursuant to the cooperation between CEA and Shanghai Disneyland Resort, aswell as the first fully painted aircraft on themes with ornament inside the cabinet and align with the themeset-up design at the airport. CEA hopes to let children explore the vast sky in the way they love.The Release of the First “Air Medical First Aid Handbook” in ChinaOn the first anniversary since the activation of “Air Medical Experts” (「空中醫療專家」) created by CEA, the first “AirMedical First Aid Handbook” in China was released. The handbook was compiled by the joint efforts of CEA, experts inthe aviation industry and the Shanghai Volunteering Physician League providing formulae on execution and standardson operation regarding air medical first aid and targeting to improve the quality and efficiency of air medical first aid. Therelease of the handbook marked a new stage for the business of air medical first aid in China.Cross OwnershipIn July, CEA declared the plan of keeping steady growth by RMB ten billion and introduced two investors, namelyJuneyao Group and China Structural Reform Fund; in November, CEA Holding announced its intention of investing inJuneyao Airlines through capital injection. This capital cooperation will be helpful in further strengthening and deepeningthe business cooperation between the parties to embody the mutual integration of domestic capitals and non-publiccapitals.Enlisting the First 787-9 AircraftCEA’s recently introduced the first B787-9 aircraft has arrived in Shanghai Hongqiao International Airportand officially joined Shanghai Airline under CEA and became the 100th aircraft of Shanghai Airline. CEA hasdemonstrated to the entire world its latest, brand new and outstanding passenger service system through itsfirst B787-9 aircraft.New Approaches on Poverty AlleviationUpon the arrival of the Fifth National Poverty Alleviation Day, CEA has developed new approaches, builtplatforms, gathered power from the society and signed on serial cooperation projects, altogether in order tomake further efforts on poverty alleviation.

Data Protection OfficerCEA has officially set up the position of data protection officer (DPO) for the Company, which will be fully responsiblefor the data protection of the enterprise and operational compliance. CEA is the first enterprise in China that has setup the position of data protection officer.Mainstream National Media for the “One Belt, One Road”focusing on the CEA DevelopmentThe training course for the national media for the “One Belt, One Road”, which was jointly conducted byCEA and other units, such a

China United Airlines means 中國聯合航空有限公司 (China United Airlines Co., Limited), a wholly-owned subsidiary of the Company Code means the Corporate Governance Code set out in Appendix 14 to the Hong Kong Listing Rules Code-share means a widely adopted marketing arrangement for all airlines across the world. Pursuant to the