American Airlines Group (AAL) investor relations material

Executive summary

• The annual meeting is scheduled for June 10, 2026, and will be held virtually to ensure broad participation.

• The company is celebrating its centennial, focusing on operational reliability, customer experience, and long-term value creation.

• Board engagement with major shareholders has informed decisions on strategy, governance, and compensation.

• Six new independent directors have joined since 2021, reflecting a commitment to board refreshment and diversity.

Voting matters and shareholder proposals

• Election of 12 directors for one-year terms.

• Ratification of KPMG LLP as independent auditor for 2026.

• Advisory vote on executive compensation (say-on-pay).

• Proposal to amend the certificate of incorporation to limit officer liability as permitted by Delaware law.

• Approval of the Amended and Restated 2023 Incentive Award Plan, increasing share reserve by 16.5 million shares and updating plan features.

• Advisory votes on shareholder proposals for written consent rights and cumulative voting, both opposed by the board.

Board of directors and corporate governance

• Board consists of 12 nominees with diverse backgrounds in transportation, finance, consumer, and technology sectors.

• Independent Chairman role separated from CEO since 2023.

• Board committees include Audit, Compensation, Corporate Governance and Public Responsibility, Finance, and Safety.

• Annual board and committee self-evaluations drive continuous improvement.

• Directors are subject to stock ownership guidelines and continuing education requirements.