JetBlue Announces Pricing of $400 Million Convertible Senior Notes Offering Page 1

JetBlue Airways Corporation (NASDAQ: JBLU) (“JetBlue”) today announced the pricing of $400 million aggregate principal amount of 2.50% convertible senior notes due 2029 (the “notes”). JetBlue has granted the initial purchasers of the notes an option to purchase up to an additional $60 million aggregate principal amount of notes. JetBlue expects to close the offering on or about August 16, 2024, subject to the satisfaction of customary closing conditions.

In certain circumstances prior to June 1, 2029 and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date, the notes may be converted at an initial conversion price of approximately $6.12 per share of JetBlue’s common stock, representing a conversion premium of approximately 27.5% above the closing price of $4.80 per share on The NASDAQ Global Select Market on August 12, 2024. JetBlue may not redeem the notes prior to September 1, 2027. On or after September 1, 2027 and through the 45th scheduled trading day prior to the maturity date, JetBlue may, in its sole discretion, redeem all or a portion of the notes, under certain circumstances.