AS Sustainability Report

Air SERBIA’s Story

Materiality analysis and stakeholder engagement

Introduction

CEO letter

Air Serbia in 2025 - year in review

Governance

Environment

Economic value and connectivity

Social

Appendix

03. AIR SERBIA’S STORY Since 1927 - connecting Serbia to the world for almost a century.

1927 FOUNDED AS AEROPUT

98 YEARS OF FLYING

4 CONTINENTS SERVED

100% OWNED BY REPUBLIC OF SERBIA

1927 - 1938

1947 - 1989

1970 - 1989

1990 - 2006

2013- 2019

2020 - 2025

STRATEGIC LEAP

GLOBAL REACH

TESTING RESILIENCE

FULL INDEPENDENCE

A FRESH START

TAKING FLIGHT

10th

10

4

5M+

56

1963

years of continuous operation before becoming Jat Airways

new Airbus aircraft in under a year

passengers a year at the 1987 peak

direct long-haul routes to China, launched between 2022 and 2025

entry into the jet age of aviation

airline in Europe from the very start

Founded in 1927, Aeroput was already flying the Belgrade-Zagreb route by 1928, and by 1938 was hosting an international aviation exhibition

After the war, JAT resumed flying in 1947, and within 22 years its fleet included the first jet aircraft and the Boeing 707.

A round-the-world route in 1974, the first wide-body aircraft in 1978, and by 1987 Serbia was connected to 5 continents through 61 destinations.

War, sanctions and an embargo halted flights to the US in 1992. The company kept operating regardless, transforming into Jat Airways in 2003 and earning an IATA safety certificate in 2005 - among the first in Europe.

The 2013 partnership with Etihad gave rise to Air Serbia, women began flying its aircraft for the first time in 2014, and in 2016 the New York route returned after 24 years

Air Serbia raised its ownership stake from 82% (2020) to 100% (2023) and opened direct routes to Tianjin, Guangzhou, Chicago and Shanghai.

Sustainability Report 04

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