AS Sustainability Report

SOCIAL INDICATORS Introduction

Appendix

Materiality analysis and stakeholder engagement

Economic value and connectivity

CEO letter

Air SERBIA’s Story

Air Serbia in 2025 - year in review

Governance

Environment

Social

10.5 ESG Indicators — Remuneration & Gender Pay Equity

Unit

2024

2025

Captains

ratio (W/M)

-

1.12

First Officers

ratio (W/M)

-

0.99

Technical / Engineering

ratio (W/M)

-

0.69

Corporate Functions

ratio (W/M)

-

1.04

Managers

ratio (W/M)

-

0.87

Median gender pay gap (in favour of men unless noted)

Cabin Crew

%

-

0.0%

Captains

%

-

−2.0% (women earn more)

First Officers

%

-

−5.0% (women earn more)

STEM Roles

%

-

19.6%

Corporate Functions

%

-

−6.5% (women earn more)

Managers

%

-

7.4%

*The reported ratio is influenced by the limited size of the employee population included in the calculation, with the median based on four remuneration data points. Furthermore, the highest remuneration corresponds to an individual holding both a pilot position and an executive management role. As a result, the remuneration reflects a combination of operational and senior leadership responsibilities, which materially affects the ratio between the highest and median remuneration. **Results show a higher average fixed compensation among women within this group. However, this outcome is not indicative of a systemic trend, due to the narrow female sample in this category, making the outcome sensitive to individual profiles rather than structural trends.

Sustainability Report 94

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