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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 listing venue: The Shanghai Stock ExchangeAbbreviation: CEACode: 600115H shares listing venue: The Hong Kong Stock ExchangeAbbreviation: China East AirCode: 00670ADR listing venue: The New York Stock ExchangeAbbreviation: CEACode: CEAOther Relevant InformationDomestic auditor engaged by the CompanyInternational auditor engaged by the CompanySponsor performing continuous supervisionduties during the Reporting Period6China Eastern Airlines Corporation LimitedNameErnst & Young Hua Ming LLPOffice addressLevel 16, Ernst & Young Tower,Oriental Plaza, No. 1 East Chang An Avenue,Dong Cheng District, Beijing, ChinaSigning accountantsMeng Dong, Gao TaoNameErnst & Young, Registered PublicInterest Entity AuditorOffice address22/F, CITIC Tower, 1 Tim Mei Avenue,Central, Hong KongNameCITIC Securities Company LimitedOffice addressNorth Tower, Excellence Times Plaza II,No. 8 Zhong Xin San Road, Futian District,Shenzhen, Guangdong ProvinceSigning representativesof the sponsorZhang Yang, Chen ShumianPeriod of continuoussupervision31 August 2019 to 31 December 20202020 Annual Report

Company ProfileAs at 31 March 2021DIRECTORSLEGAL ADVISERSLiu Shaoyong (Chairman)Mainland China: Beijing Commerce & Finance Law OfficeLi Yangmin (Vice Chairman, President)USA: Baker & McKenzieHong Kong, China: Baker & McKenzieTang Bing (Director)Shao Ruiqing (Independent non-executive Director)PRINCIPAL BANKSCai Hongping (Independent non-executive Director)Industrial and Commercial Bank of China, Shanghai BranchDong Xuebo (Independent non-executive Director)China Construction Bank, Shanghai BranchJiang Jiang (Employee Representative Director)The Bank of China, Shanghai BranchAgricultural Bank of China, Shanghai BranchSUPERVISORSGuo Lijun (Chairman of the Supervisory Committee)SHARE REGISTRARFang Zhaoya (方照亞) (Supervisor)Hong Kong Registrars Limited(Former name: Fang Zhaoya as 方召亞)Rooms 1712–1716, 17th Floor, Hopewell Centre,Zhou Huaxin (Employee Representative Supervisor)183 Queen’s Road East, Wan Chai, Hong KongSENIOR MANAGEMENTThe Bank of New York MellonLi Yangmin (Vice Chairman, President)240 Greenwich StreetXi Sheng (Vice President) (Former name: Xi Xingwang)New York, NY 10286 USAZhou Qimin (Vice President, Chief Financial Officer)Feng Dehua (Vice President)China Securities Depository and Clearing Corporation Limited,Cheng Guowei (Vice President)Shanghai BranchLiu Tiexiang (Vice President)188 South Yanggao Road, Pudong New District, ShanghaiWang Jian (Board Secretary, Company Secretary)COMPANY SECRETARYPRINCIPAL PLACE OF BUSINESS INHONG KONGWang JianRoom D, 19/F, United Centre, 95 Queensway, Hong KongAUTHORISED REPRESENTATIVESLiu ShaoyongWang Jian7

Financial Highlights(Prepared in accordance with International Financial Reporting Standards)Expressed in RMB 115,278120,9867,2022(91,889)12,486(6,176)6,497Year ended 31 DecemberRevenuesOther operating income and gainsGain/(loss) on fair value changes of derivative financial instrumentsOperating expensesOperating profit/(loss)Financial income/(costs), netProfit/(loss) before income taxNet profit/(loss) for the year attributable to the equity holders ofthe CompanyEarnings/(loss) per share attributable to the equity holders ofthe Company ,429)—(96,251)56,249As at 31 DecemberCash and cash equivalentsNet current liabilitiesNon-current assetsNon-current borrowings, including current portionObligations under finance leases, including current portionLease liabilities, including current portionEquity attributable to the equity holders of the Company(1) The calculation of earnings per share for 2016 is based on the net profit attributable to the equity holders of the Company divided by the weightedaverage number of 13,811,136,000 ordinary share in issue. The calculation of earnings per share for 2017 is based on the net profit attributable to theequity holders of the Company divided by the weighted average number of 14,467,585,682 ordinary share in issue. The calculation of earnings pershare for 2018 is based on the net profit attributable to the equity holders of the Company divided by the weighted average number of 14,467,585,682ordinary share in issue. The calculation of earnings per share for 2019 is based on the net profit attributable to the equity holders of the Companydivided by the weighted average number of 15,104,893,522 ordinary share in issue. The calculation of loss per share for 2020 is based on the net lossattributable to the equity holders of the Company divided by the weighted average number of 16,379,509,203 ordinary share in issue.RevenuesOperating Profit(RMB million)(RMB a Eastern Airlines Corporation Limited20202020 Annual Report201620192020

Summary of Accounting and Business Data(Prepared in accordance with PRC Accounting Standards)Loss for the year ended 31 December 2020(RMB Million)Net loss(12,554)Loss from main operations, net(12,855)Income from other operations, net691Loss from investments(77)Non-operating income, net320Major Accounting Data & Financial Indicators(RMB Million)20191.Operation revenue2.Net profit/(loss) attributable to the equity holders of the 870,39756,9123.Total assets4.Shareholders’ equity5.Earnings/(loss) per share (RMB)0.21(0.72)6.Equity attributable to the equity holders of the Company per share (RMB)4.083.30Note:1.Calculation of major financial indicators:Earnings/(loss) per share profit/(loss) attributable to the equity holders of the Company weighted average number of ordinary shares outstanding inissue during the yearEquity attributable to the equity holders of the Company per share equity attributable to the equity holders of the Company at the end of the year number of ordinary shares outstanding at the end of the year9

Summary of Major Operating DataAs at 31 December20202019ChangePassenger transportation dataASK (available seat — kilometres) .53-85.93%107,273.25221,779.11-51.63%— Domestic routes96,205.97142,921.41-32.69%— International 2%— Domestic routes— International routes— Regional routesRPK (revenue passenger — kilometres) (millions)— Regional routesNumber of passengers carried 4-90.58%70.5482.06-11.52pts— Domestic routes71.4283.25-11.83pts— International routes64.4480.09-15.65pts— Regional routes50.7978.75-27.96pts— Domestic routes— International routes— Regional routesPassenger load factor (%)Passenger — kilometres yield (RMB)Note— Domestic routes100.4930.522-5.56%0.4550.540-15.74%— International routes0.8150.47471.94%— Regional routes0.8970.74420.56%China Eastern Airlines Corporation Limited2020 Annual Report

Summary of Major Operating DataAs at 31 December20202019ChangeFreight transportation data6,946.479,132.69-23.94%— Domestic routesAFTK (available freight tonne — kilometres) (millions)2,754.783,215.85-14.34%— International 00.062,971.40-25.96%— Regional routesRFTK (revenue freight tonne — kilometres) (millions)— Domestic routes— International routes— Regional routesWeight of freight carried (million 8.78-67.23%711.80976.57-27.11%— Domestic routes539.70672.62-19.76%— International 4-0.87pts— Domestic routes28.1129.58-1.47pts— International routes34.1334.77-0.64pts— Regional 7.44%— Regional routesFreight load factor (%)Freight tonne — kilometres yield (RMB)Note— Domestic routes— International routes2.8671.340113.96%— Regional routes8.9085.55860.27%11

Summary of Major Operating DataAs at 31 December20202019ChangeConsolidated dataATK (available tonne — kilometres) 92%11,699.7422,518.00-48.04%— Domestic routes9,308.2213,559.38-31.35%— International routes2,341.908,485.44-72.40%49.63473.19-89.51%— Domestic routes— International routes— Regional routesRTK (revenue tonne — kilometres) (millions)— Regional routes56.7167.31-10.60pts— Domestic routesOverall load factor (%)62.5672.64-10.08pts— International routes41.5960.51-18.92pts— Regional routes40.2961.78-21.49pts4.9375.315-7.11%Revenue tonne — kilometres yield (RMB)Note— Domestic routes4.7875.761-16.91%— International routes5.4274.43622.34%— Regional routes9.9748.27220.58%Note: In calculating unit revenue index, the relevant revenue includes incomes generated from co-operation routes and fuel surcharge.12China Eastern Airlines Corporation Limited2020 Annual Report

Fleet StructureThe Group has been continuously practising the vision of green development and optimising its fleet structure in recent years. In 2020,the Group introduced a total of 13 aircraft of major models and a total of 11 aircraft retired. With the introduction of new aircraft, suchas A350-900, B787-9 and A320NEO, the Group’s fleet age structure still continues to remain young.As at 31 December 2020, the Group operated a fleet of 734 aircraft, which included 725 passenger aircraft and nine business aircraftheld under trust.Fleet structure as at 31 December elf-ownedfinance leaseleaseSub-totalAverage fleetage 330 series30215567.144455945.6Total number of wide-body aircraft5A320 series137127723368.06B737 852461947257.1Total number of narrow-body aircraft7ARJ21Total number of regional aircraftTotal number of passenger aircraftTotal number of business aircraftheld under trustTotal number of aircraft9734Notes:1.A330 series aircraft include A330-200 and A330-300 aircraft;2.A320 series aircraft include A319, A320, A320NEO and A321 aircraft;3.B737 series aircraft include B737-700, B737-800 and B737 MAX 8 aircraft. The Group has temporarily grounded B737 MAX 8 model aircraft sinceMarch 2019. As at the date of this announcement, B737 MAX 8 is still grounded. The Group will pay close attention to the progress of resumptionof operation of B737 MAX 8. There remains great uncertainty on the time for the resumption of operation of B737 MAX 8.13

Fleet StructureMajor OperationsModelB777-300ERB787-9A350-900A330 seriesA320 seriesB737 seriesPassengertraffic volume(10 thousand)Passengerload factor(%)Overallload factor(%)Daily 941.3066.3965.687.366.466.515.646.155.80Fleet ConditionAs at 31 December 2020, the Group operated a total of 734 passenger aircraft, including nine 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 6,623.8153,877.88Self-ownedUnder finance leaseTotalModelForm of tenureB787-9Number ofaircraft (end of theReporting Period)Averagefleet ageDaily utilisation(hours)Paid 42.5523,634.31Self-ownedUnder finance leaseTotalModelForm of tenureA350-900Number ofaircraft (end of theReporting Period)Averagefleet ageDaily utilisation(hours)Paid 8.3616,722.51Self-ownedUnder finance leaseTotalModelForm of tenureA330 seriesNumber ofaircraft (end of theReporting Period)Averagefleet ageDaily utilisation(hours)Paid 2,561.9143,380.259,176.90115,119.06Self-ownedUnder finance leaseUnder operating leaseTotalNote: A330 series aircraft included A330-200 and A330-300 aircraft14China Eastern Airlines Corporation Limited2020 Annual Report

Fleet StructureModelA320 seriesNumber ofaircraft (end of theAverageDaily utilisationPaid flightReporting Period)fleet r finance .016.15742,504.32Form of tenureUnder operating leaseTotalNote: A320 series aircraft included A319, A320, A320NEO and A321 aircraftModelB737 seriesNumber ofaircraft (end of theAverageDaily utilisationPaid flightReporting Period)fleet age(hours)hour1028.195.98216,832.46Form of tenureSelf-owned734.525.87133,189.60Under operating leaseUnder finance 55Note: B737 series aircraft included B737-700, B737-800 and B737 MAX 8 aircraftFleet PlanIntroduction and Retirement Plan of Aircraft for 2021 to uction2023RetirementIntroductionRetirementB787 Series5—————A350 Series4—8———A330 Series——————A320 Series276345—412B737 Series—3—446ARJ Series6—8—9—C919 Series1—2—2—4395295716TotalNotes:1.The Group has temporarily grounded B737 MAX 8 model aircraft since March 2019. As at the date of this announcement, B737 MAX 8 is stillgrounded. There is still great uncertainty regarding the time for the resumption of operation and delivery of B737 MAX 8;2.According to confirmed orders, the Group planned to introduce 9 aircraft and retire 21 aircraft in 2024;3.The Group and its suppliers have proactively negotiated and adjusted the progress for the introduction of aircraft under the influence of COVID-19.The planning for the introduction and retirement of aircraft will be subject to timely adjustment based on the changes in external environment andmarket conditions, and flight capacity allocation of the Group.15

2020MilestonesBecame a “main force” in COVID-19prevention and controlServed the internal circulation of Chinathrough flexible travel productsIn the face of the sudden outbreak of COVID-19, CEA arranged the firstflight for COVID-19 prevention and control in China, sent the first charterflight in China for rendering support to other countries, and resumedthe first flight in Wuhan upon the containment of COVID-19. CEA tookthe lead in the industry for the development of the “Online PassengerHealth Reporting Procedure” application, was the first to introduce ticketrefunds and changes with “three free-of-charge” services, and transportedmore than 60 million passengers in the cabin with zero infected case ofCOVID-19.On 18 June 2020, CEA launched “Wild Your Weekends” (週末隨心飛),which immediately ignited market enthusiasm and public attention, andformed a “phenomenal” publicity effect. CEA then successively launched“Wild Mornings and Nights” (早晚隨心飛), “Exploring the Western Region”(西域隨心飛), “Exploring the Bay Area” (灣區隨心飛), “Exploring throughDaxing” (大興隨心飛) and “Wild Your Weekends (2021 version)” (週末隨心飛（2021版）), as well as “Flexible Travel” (隨心遊), “FlexibleAccommodation” (隨心住) and “Flexible Enjoyment” (隨心享). Throughsupply-side aviation product innovation, CEA drove the growth of relatedmarkets, brought new momentum for consumption and served theinternal circulation of China.Rated “A” on the ESG ratings assessmentUtilised smart cloud for aviationOn 11 May 2020, CEA’s instant messaging MUC software waslaunched, covering 21 base stations and 32 domestic sales offices ofthe headquarters and subsidiaries as well as 86% of outbound flights. Ithas significantly improved the capability of fine operation and effectivelyfacilitated the full resumption of work and production of the Company. In2020, CEA cooperated with China Railway Group to launch the “air-railcombined transportation” model by linking the sales platforms of civilaviation and high-speed rail and providing “one-stop” joint booking for thefirst time. The Research Center was selected into the “Science ReformDemonstration Action”, and CEA’s NDC was awarded the highest levelcertification by IATA, helping CEA achieve continuous breakthroughs insmart development.In the environmental, social and governance (ESG) ratings assessmentof MSCI, an international index company, in 2020, among global airlines,five airlines including CEA, Delta and Singapore Airlines tied for first place.CEA’s assessment result was better than 74% of airlines around theworld, and was the only “A” grade airline listed on the A share market ofChina. CEA’s substantive issues such as corporate governance, carbonemissions, privacy and data security also received positive praise.Strategically laid a new market landscapeFocusing on national and regional development strategies, CEA continuedto increase input of resources in densely populated areas, economicallyactive areas and innovative development zones, and established theXiamen branch to concentrate on the development of the Western TaiwanStraits Economic Zone. Meanwhile, CEA established the Japan branch,being its first overseas branch, to actively lay a new market landscapeand promote the optimisation and adjustment of market structure.16China Eastern Airlines Corporation Limited2020 Annual Report

Successfully transferred the base to BeijingDaxing AirportFully served the China International ImportExpo (CIIE)25 September 2020 was the first anniversary of the commencement ofoperation of Beijing Daxing International Airport. On that day, CEA’s “CIIEAircraft” (進博號) arrived at Daxing, and the launch of “Exploring throughDaxing” (大興隨心飛) was announced.At the third CIIE, CEA participated and served for the first time as a “coresupporting company”, “designated air carrier”, “purchaser” and “serviceprovider”. CEA entered into 23 agreements with large-scale internationalrenowned manufacturers from 11 countries and regions, and transactionsof exhibitors at the CIIE accounted for 83%, both reaching new highs. Thewindow services and voluntary services at the CIIE were well received.CEA’s first painted “CIIE Aircraft” (進博號) in the world was unveiled andlaunched, and flew to more than 10 countries and more than 20 hubdestinations in China and abroad, thereby sending the “invitation to CIIE”and demonstrating the “charm of CIIE”.Since the construction and commencement of operation of DaxingAirport, CEA is the only airline to participate in the full-phase flight testingprocess, the first airline to pass the completion acceptance inspection,the first airline to officially and exclusively commence operation a

Management's Discussion and Analysis 49 Report of the Directors . Freight tonne-kilometres yield means the ratio of the sum of freight transportation and related revenue to freight traffic volume . OTT Airlines, or Business Airlines means 一二三航空有限公司 (One Two Three Airlines Co., Ltd.), a company re-organised from 東方 .