United Airlines Holdings - Climate Change 2021

C0. Introduction

C0.1

(C0.1) Give a general description and introduction to your organization.

United's shared purpose is "Connecting People. Uniting the World." We are more focused than ever on our commitment to customers through a series of innovations and

improvements designed to help build a great experience: Every customer. Every flight. Every day. In 2019, prior to the novel coronavirus (COVID-19) pandemic, United

Airlines and United Express together operated approximately 4,900 flights a day to 361 airports across six continents, and operated more than 1.7 million flights carrying more

than 162 million customers. United is proud to have one of the world's most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los

Angeles, New York/Newark, San Francisco, and Washington, D.C. As of December 31, 2019, United’s operations included 791 mainline aircraft and the airline's United

Express carriers operated 581 regional aircraft. Beginning in the first quarter of 2020, United began experiencing a significant decline in passenger demand related to the

COVID-19 pandemic. In response to decreased demand, United reduced 57% of its scheduled capacity in 2020 vs. 2019. United is a founding member of Star Alliance, which

in 2019 provided service to 195 countries via 28 member airlines. For more information, visit united.com, follow @United on Twitter and Instagram or connect on Facebook.

The common stock of United's parent, United Airlines Holdings, Inc., is traded on the Nasdaq under the symbol "UAL".

United's environmental commitment is core to the mission to connect people and unite the world. Every day, we celebrate the people and communities across our planet—

which is why we understand the need for bold action now to combat climate change. At United, we’re on a mission to make sustainable flying the new standard, with our path

to reducing our “wingprint,” extending from in the air, to the ground, and into our communities. United has been recognized for years for its leadership in advancing

sustainable aviation, such as in 2016, when it became the first airline to begin using sustainable aviation fuel (SAF) on an ongoing daily basis, marking a significant milestone

in the airline industry, by moving beyond demonstrations and test programs to the use of SAF in ongoing operations. In 2018, United Airlines ranked No. 1 among global

carriers in Newsweek’s Global 500 Green Rankings, one of the most recognized environmental performance assessments of the world’s largest publicly traded companies. In

2019, United flew the most eco-friendly commercial flight of its kind in the history of aviation: on the Flight for the Planet, United became the first known airline to demonstrate

all of the following key actions on a single commercial flight: utilization of SAF, zero cabin waste efforts, operational efficiencies, and using carbon offsets to address the

remaining greenhouse gas (GHG) emissions associated with the flight.

In 2020 we announced our “100% Green” climate commitment: a goal to achieve carbon neutrality by 2050 without the use of traditional carbon offsets. That same year, The

Carbon Disclosure Project (CDP) named United as the only airline globally to its 2020 Climate 'A List' for the airline's actions to cut emissions, mitigate climate risks and

develop the low-carbon economy, marking the seventh consecutive year that United had the highest CDP score among U.S. airlines. And in June 2021, for the third time

since launching its industry-leading Eco-Skies program, United Airlines was named the Eco-Airline of the Year by Air Transport World magazine. The award recognizes an

airline globally for its environmental leadership as demonstrated by consistent and impactful environmental action within the company and in the airline industry. Today, we

consume more of the global supply of SAF than any other airline through daily flights departing from Los Angeles, demonstrating a commitment to and support for the growing

market for lower carbon alternatives.

United’s four-pillar commitment to the environment consists of:

1) Fuel efficiency and emissions reduction: increasing fuel efficiency and reducing emissions through technology and process innovation

2) Sustainable fuel sources: investing in and operating on environmentally responsible and cost-efficient sustainable fuels

3) Carbon capture and sequestration: carbon capture and sequestration technology that removes CO2 from the ambient air

4) Innovation for the future: investing in innovative technology that can help reduce GHG emissions

C0.2

(C0.2) State the start and end date of the year for which you are reporting data.

Start date End date Indicate if you are providing emissions data for past reporting

years

Select the number of past reporting years you will be providing emissions data

for

Reporting

year

January 1

2020

December 31

2020

No <Not Applicable>

C0.3

(C0.3) Select the countries/areas for which you will be supplying data.

United States of America

C0.4

CDP Page of 751

(C0.4) Select the currency used for all financial information disclosed throughout your response.

USD

C0.5

(C0.5) Select the option that describes the reporting boundary for which climate-related impacts on your business are being reported. Note that this option should

align with your chosen approach for consolidating your GHG inventory.

Operational control

C-TO0.7/C-TS0.7

(C-TO0.7/C-TS0.7) For which transport modes will you be providing data?

Aviation

C1. Governance

C1.1

(C1.1) Is there board-level oversight of climate-related issues within your organization?

Yes

C1.1a

(C1.1a) Identify the position(s) (do not include any names) of the individual(s) on the board with responsibility for climate-related issues.

Position of

individual(s)

Please explain

Board-level

committee

The Public Responsibility Committee of the Board of Directors of United Airlines Holdings, Inc. (the Board) provides board oversight for United's policies and positioning with respect to environmental

sustainability, social responsibility, and public policy. In addition to scheduled Public Responsibility Committee meetings, members of the committee meet with certain United officers to receive

updates and discuss key issues directly relevant to its purpose as described above. On a regular, but at least annual basis, the Public Responsibility Committee is updated on United’s environmental

programs and policies, initiatives related to climate change, environmental regulations that impact United, and progress in fulfilling United’s environmental sustainability objectives and commitments.

While United’s climate mitigation strategy in 2020 was not decided at Board level—and rather at the officer-level, by both the CEO and President—the Board was updated many times on climate-

related matters, including focused discussions on specific pillars of United’s decarbonization strategy.

C1.1b

(C1.1b) Provide further details on the board’s oversight of climate-related issues.

Frequency with

which climate-

related issues

are a scheduled

agenda item

Governance

mechanisms

into which

climate-related

issues are

integrated

Scope of

board-

level

oversight

Please explain

Scheduled – all

meetings

Reviewing and

guiding strategy

Reviewing and

guiding major

plans of action

Reviewing and

guiding annual

budgets

Overseeing

major capital

expenditures,

acquisitions and

divestitures

<Not

Applicabl

United’s climate strategy is focused primarily on mitigating GHG emissions from its aircraft, as 99% of United’s Scope 1 and Scope 2 emissions result from jet fuel

consumption. Jet fuel consumption was United’s third largest cost in 2020 (comprising 15% of operating expenses), making conserving fuel and reducing GHG

emissions important factors in the company’s financial success. Prior to the COVID-19 pandemic, and during normal operating conditions, jet fuel is United's second

largest expense (23% of expenses). United’s fuel costs and their impact on the company’s financial performance are communicated to the Board at all scheduled

meetings by the Chief Financial Officer (CFO) and/or other officers.

Scheduled –

some meetings

Reviewing and

guiding risk

management

policies

<Not

Applicabl

Climate-related risks are integrated into the company’s overall risk management process; the Audit Committee of the Board receives updates on and monitors

management’s strategies to protect the company from risks identified by this process.

C1.2

CDP Page of 752

(C1.2) Provide the highest management-level position(s) or committee(s) with responsibility for climate-related issues.

Name of the position(s) and/or

committee(s)

Reporting line Responsibility Coverage of

responsibility

Frequency of reporting to the board on climate-related

issues

Chief Executive Officer (CEO) <Not

Applicable>

Both assessing and managing climate-related risks and

opportunities

<Not Applicable> More frequently than quarterly

President <Not

Applicable>

Both assessing and managing climate-related risks and

opportunities

<Not Applicable> More frequently than quarterly

Chief Financial Officer (CFO) <Not

Applicable>

Assessing climate-related risks and opportunities <Not Applicable> Quarterly

C1.2a

(C1.2a) Describe where in the organizational structure this/these position(s) and/or committees lie, what their associated responsibilities are, and how climate-

related issues are monitored (do not include the names of individuals).

United’s Chief Executive Officer (CEO) reports directly to the Board. The CEO has responsibility for climate-related issues because this position oversees the strategy,

objectives, and long-term planning of the company, thus ensuring that these issues are truly integrated into business governance and strategy. As part of their responsibilities,

the CEO has overall responsibility for all aspects of the company’s business, including assessing and managing United’s fuel costs and climate-related risks and

opportunities. The CEO also is directly apprised of investment and partnership opportunities in the climate space—including decisions on investing in decarbonization

technology, where they act as the key decision-maker—and has personally appeared on industry panels and events to discuss the need for a decarbonized future and

advocate for policy incentives to drive supply in sustainable fuels and technology. The CEO has identified climate risk mitigation as a priority for United.

Beyond the CEO, the President reports to the CEO and assesses and manages United’s climate risk management and United’s environmental programs and policies,

including climate change; other relevant departments, including Government Affairs, Regulatory Affairs, and Risk Management also report to the President. The President is

also apprised of decarbonization technology investment and partnership opportunities, particularly ensuring environmental benefit and/or emissions reduction potential where

the technology allows.

The Chief Financial Officer (CFO) assesses climate-related risks and opportunities by overseeing long-term investments in more fuel-efficient aircraft, low-carbon fuel

sources, and decarbonization technologies, and is directly apprised of technology investment and partnership opportunities, to ensure diligence and financial benefit where

the investment allows. The investment activity done through United’s Corporate Development team falls under the CFO’s responsibility, with the team itself directly reporting

to that position. United’s climate strategy is focused primarily on mitigating GHG emissions from its aircraft, as 99% of United’s Scope 1 and Scope 2 emissions result from jet

fuel consumption. Jet fuel consumption was United’s third largest cost in 2020 (comprising of 15% of operating expenses), making conserving fuel and reducing GHG

emissions important factors in the company’s financial success. Prior to the COVID-19 pandemic, and during normal operating conditions, jet fuel was United's second

largest expense (23% of expenses). United’s fuel costs and their impact on the company’s financial performance are communicated to the Board at all scheduled meetings by

the CFO and/or other officers.

United’s climate monitoring process involves assessment of external factors that could impact climate-related issues, including changes to current legislation, future

legislation, and changes to policy and taxes. An example of this is the monitoring of ICAO’s (International Civil Aviation Organization, the UN agency for aviation) Carbon

Offsetting and Reduction Scheme for International Aviation (CORSIA); the CEO, President, and CFO oversee the monitoring of policy developments of the scheme, and act to

ensure that the company is prepared for its implementation in such a way that best protects United’s financial performance and minimizes its reputational risk.

Day-to-day responsibility for environmental matters resides with United’s Managing Director of Global Environmental Affairs and Sustainability. This position reports to the

Senior Vice President of Government Affairs & Global International Policy, who in turn reports to the President.

C1.3

(C1.3) Do you provide incentives for the management of climate-related issues, including the attainment of targets?

Provide

incentives

for the

management

of climate-

issues

Comment

Row

Yes United’s climate strategy is focused on mitigating GHG emissions from its aircraft, as 99% of United’s Scope 1 and Scope 2 emissions result from jet fuel consumption. Jet fuel consumption

was United’s third largest cost in 2020 (comprising of 15% of operating expenses), making conserving fuel and reducing GHG emissions important factors in the company’s financial success.

Prior to the COVID-19 pandemic, and during normal operating conditions, jet fuel is United's second largest expense (23% of expenses). Including and through the first quarter of 2020,

United’s executives and certain other managers received long-term and annual incentive awards with value linked to performance metrics, including financial performance, of the company.

United also offers a Profit Sharing Plan, which enables eligible employees to share in the company’s financial success when United is profitable. Further details of all these incentives can be

found in the response to Question C1.3a.

C1.3a

CDP Page of 753

(C1.3a) Provide further details on the incentives provided for the management of climate-related issues (do not include the names of individuals).

Entitled to

incentive

Type of

incentive

Activity

inventivized

Comment

Corporate

executive

team

Monetary

reward

Efficiency

target

United executives and certain other managers receive long-term and stock-based and annual incentives, whose value is linked to the company’s financial performance,

among other performance metrics. Jet fuel consumption was United’s third largest cost in 2020 (comprising of 15% of operating expenses), making conserving fuel and

reducing GHG emissions important factors in the company’s financial success. Prior to the COVID-19 pandemic, and during normal operating conditions, jet fuel is United’s

second largest expense (23% of expenses).

Management

group

Monetary

reward

Efficiency

target

United executives and certain other managers receive stock-based long-term and annual incentive awards whose value is linked to the company’s financial performance,

among other performance metrics. Jet fuel consumption was United’s third largest cost in 2020 (comprising of 15% of operating expenses), making conserving fuel, and

thereby reducing GHG emissions, an important factor in the company’s financial success. Prior to the COVID-19 pandemic, and during normal operating conditions, jet fuel

is United's second largest expense (23% of expenses).

All

employees

Monetary

reward

Efficiency

target

United’s Profit Sharing Plan enables eligible employees to share in the company’s financial success when United is profitable and earns more than $10 million in pre-tax

income during the fiscal year. Jet fuel consumption was United’s third largest cost in 2020 (comprising of 15% of operating expenses), making conserving fuel and reducing

GHG emissions important factors in the company’s financial success. Prior to the COVID-19 pandemic, and during normal operating conditions, jet fuel is United's second

largest expense (23% of expenses).

C2. Risks and opportunities

C2.1

(C2.1) Does your organization have a process for identifying, assessing, and responding to climate-related risks and opportunities?

Yes

C2.1a

(C2.1a) How does your organization define short-, medium- and long-term time horizons?

From (years) To (years) Comment

Short-term 0 2 In this timeframe, United has flexibility to change near-term aspects of its business strategy, such as its planned flying capacity.

Medium-

term

2 10 In this timeframe, United has flexibility to change longer-term aspects of its business strategy.

Long-term 10 30 In this timeframe, United has flexibility to change all aspects of its business strategy. The useful lifetimes of aircraft generally extend toward the upper end of this range.

C2.1b

(C2.1b) How does your organization define substantive financial or strategic impact on your business?

United defines a substantive or strategic impact on the business as any internal or external event or circumstance that could impact United’s ability to achieve its

strategic/business objectives. United’s climate-related risk management process is part of its overall company-wide risk assessment. United has an Enterprise Risk

Management (ERM) process. The ERM process has an ERM Committee comprised of officers and executives of the company, who then appoint Risk Teams.

The senior management-level Risk Teams oversee risk identification, risk measurement, and risk response for their respective area(s) of expertise; Environmental Affairs

participates in United’s ERM process. The Risk Teams use several risk identification techniques including but not limited to subject matter expertise, evaluation of prior

exposures, perils and hazards, interviews with the business, and outside consultants. Asset-level risks are identified and managed through multiple departments’ processes,

including Corporate Insurance, Corporate Real Estate, Corporate Safety, Environmental Affairs, Finance, Internal Audit, Legal, and numerous operations departments.

A substantive or strategic impact is determined by an analysis of likelihood and impact scales which are assessed by the Risk Teams. Financial materiality thresholds are

established in coordination with the Treasury and Accounting departments, based on the status and strength of United’s balance sheet and financial situation. Once the

financial impact analysis and likelihood ratings have been completed, risks that qualify as enterprise risks are rated by leadership in Communications, Government Affairs,

Human Resources, Marketing, and Sales to then be assigned one of five reputational impact risk ratings. The higher of the financial impact and reputational risk rating is the

final rating that is presented to leadership and the Board of Directors and used to quantify the risk as one that could cause substantive or strategic impact.

C2.2

CDP Page of 754

(C2.2) Describe your process(es) for identifying, assessing and responding to climate-related risks and opportunities.

Value chain stage(s) covered

Direct operations

Risk management process

Integrated into multi-disciplinary company-wide risk management process

Frequency of assessment

More than once a year

Time horizon(s) covered

Short-term

Medium-term

Long-term

Description of process

The ERM team holds comprehensive risk workshops with Risk Teams annually (more frequently if needed), to update assessments of existing risks and to identify and rate

new or emerging risks. This process primarily focuses on risks that may occur within a three-year time horizon, while the ratings focus on the upcoming 12 months.

Additionally, the process also looks ahead to a medium-term and long-term time horizon to determine if any new risks should be included in the ERM reporting process. In

direct operations, risks may be tied to the fleet itself, which has a long-term time horizon, due to the useful lifetime of an aircraft. In 2020, additional Risk Teams were

created, to address concerns like COVID-19 as well as emerging concerns like environmental, social, and governance (ESG) strategy, and additional ERM Committee

meetings were held. For physical risks and opportunities such as increases in extreme weather, United constantly evaluates and responds to weather-related events. In

addition, in 2016 the company increased the amount of out-and-back flying (flying that begins at a hub, travels to another airport, and returns directly back to the hub). At the

beginning of 2016, United increased flying in this pattern from approximately 35% of flights to approximately 70%. In addition to reducing operational complexity, this helps

isolate the impact of weather- and Air Traffic Control-related events to that hub while mitigating the impact on other hubs. United believes that this change drives improved

reliability and efficiency and provides a better experience for customers and employees. For transitional risks and opportunities such as emerging regulations, United was

part of the airline industry leadership that helped lay the foundation for ICAO’s Carbon Offsetting and Reduction Scheme (CORSIA). Through Airlines for America and the

International Air Transport Association, United assisted in identifying financial exposure from a patchwork of regulatory and tax schemes related to environmental by several

countries, and modeled the potential financial impact from such schemes vs. CORSIA, and assisted in the design framework via ICAO working groups to ensure CORSIA

was approved and is being implemented. In 2020 United also evaluated domestic carbon policies and incentives, resulting in United leading advocacy for incentive-based

policy mechanisms to grow sustainable aviation fuel supply in the U.S.

C2.2a

CDP Page of 755

(C2.2a) Which risk types are considered in your organization's climate-related risk assessments?

Relevance

inclusion

Please explain

Current

regulation

Relevant,

always

included

Local, state, federal, and international regulations regarding the environment create compliance and financial risks to United. Examples of international agreements include ICAO’s Carbon

Offsetting and Reduction Scheme for International Aviation (CORSIA), for which 2019 was the first reporting year. The unprecedented nature of the COVID-19 pandemic prompted ICAO to

include only 2019 emissions as the baseline upon which offsetting obligations would be calculated for the first phase (2021-23) of the scheme. The applicable baseline for the subsequent

phases of the scheme, however, is still uncertain, as CORSIA only applies to the flights between countries that have volunteered for the first phase. Approximately 33% of United’s pre-

COVID-19 capacity (including regional partners) was flown between country-pairs that have volunteered for the first phase of CORSIA. If additional countries join in subsequent years, this

number is expected to increase. Related state regulations include California’s AB 32 (The 2006 Global Warming Solutions Act), which created a Low Carbon Fuel Standard (LCFS) in

California that aims to reduce the carbon intensity of the state’s transportation fuel pool by approximately 20% by 2030 via both mandates and incentives. The LCFS program has helped

facilitate a market for lower-carbon fuels, for which there is currently insufficient supply in aviation, while contributing to upward price pressure for road-based conventional fuels. As the

California LCFS has matured, other states/regions within the United States are proposing similar low carbon-fuel policies. These risks are identified and assessed by Environmental Affairs

and Regulatory Affairs as existing regulations continue to evolve. These departments then proactively evaluate the financial impact of these regulations to determine the most appropriate

risk response, and report these results to the Enterprise Risk Management (ERM) Committee, United officers, and the Board.

Emerging

regulation

Relevant,

always

included

United continuously monitors the regulatory environment as it evolves to identify and evaluate new exposures and its risk response. United participates in various industry groups including

Airlines for America, the International Air Transport Association, and the Air Transport Action Group, which have environmental, fuel, and other groups that monitor and share information

on emerging environmental risks that impact the airline industry. A prior example of this risk was the introduction of the European Union Emissions Trading Scheme (EU ETS), which could

have applied to nearly all of United’s routes to Europe, were the company and these industry groups not successful in advocating the scheme apply to only intra-EU routes, thereby helping

to avoid a patchwork of different and potentially conflicting emission schemes levied against international air transport. Instead, the industry championed CORSIA, a sole international and

cooperative global market-based policy solution for aviation GHG emissions. A further example of regulatory risk is the emergence of sustainable aviation fuel (SAF) mandates, which could

require a volume of SAF that is not yet existing in supply and potentially lead to market distortion. Instead, United is currently advocating with the U.S. EU, and other governments for

positive incentives to encourage supply in the long-term. Most recently, on July 14, 2021, the European Commission proposed comprehensive climate change legislation (styled as “Fit for

55” – the Commission’s plan to set the EU on course to reduce EU GHG emissions by 55% by 2030) that would introduce a blending mandate for SAF. This proposal must navigate the

legislative process, and United will continue to make the case that incentives are more effective than mandates in promoting the production and use of SAF. These risks are identified and

assessed by Environmental Affairs and Regulatory Affairs as existing and new regulations continue to evolve. These departments then proactively evaluate the financial impact of these

regulations to determine the most appropriate risk response and report these results to the ERM Committee, United officers, and the Board.

Technology Relevant,

sometimes

included

Technology-related risks relevant to United include product efficiency regulations and standards such as ICAO’s CO2 efficiency standard (which the U.S. EPA adopted in late 2020) that

applies to aircraft designs, and the ability of aircraft manufacturers to meet the standard. These risks apply to all of United’s current and future aircraft types. These risks are identified and

assessed by Environmental Affairs and Regulatory Affairs as existing regulations continue to evolve. These departments then proactively evaluate the financial impact of these regulations

to help determine the most appropriate response, and report these results to the ERM Committee, United officers, and the Board.

Legal Relevant,

sometimes

included

Legal risks relevant to United include, among others, litigation, regulatory, or administrative proceedings related to environmental issues. The Legal department works with other

departments within the company, including Environmental Affairs and Regulatory Affairs, to evaluate and assess these risks. Examples of legal risk include litigation, regulatory, or

administrative proceedings that municipalities have initiated against the industry on climate-related issues, or against government agencies seeking more aggressive regulations. For

example, in Brazil the State Public Prosecutor filed lawsuits against all airlines operating at Sao Paulo Guarulhos International Airport seeking damages due to GHG emissions, in the form

of land restoration projects, or a fixed fee per passenger to offset perceived environmental issues. The case was dismissed in March 2021. Failure to properly respond to such actions

could lead to financial penalties as well as negatively impact United’s reputation. By way of further example, airlines face exposure to significant penalties for breach of strict noise

standards in certain countries where United operates, such as Belgium.

Market Relevant,

sometimes

included

Market risks relevant to United include consumer preferences for lower carbon travel, which could lead to shifts in demand from international to domestic air travel, or shifts in demand away

from air travel to alternate modes of transportation or shifts away from business travel towards virtual meetings and events. These risks are identified and assessed by Network Planning as

markets continue to evolve. This department evaluates changes in market demand on an ongoing basis.

Reputation Relevant,

sometimes

included

Reputational risks relevant to United include shifts in consumer preferences that may impact demand for United’s travel services, or increased expectations regarding decarbonization and

emissions reductions activities, including reporting and disclosure of these initiatives, such as decarbonization investments or use of emissions-reducing sustainable aviation fuel. If United

is not viewed as market leader in terms of disclosure and emissions reduction, the reputational impact could lead to customers seeking to use alternative airlines. These risks are identified

and assessed by Environmental Affairs, Corporate Communications, and Investor Relations. These departments monitor public opinion and expectations and investor interest and

expectations around climate commitments, and the perceptions of its stakeholders regarding United’s and other airlines’ impact on climate change.

Acute

physical

Relevant,

sometimes

included

Acute physical risks relevant to United include changes in weather intensity that may result in impacts to United’s flight operations, such as the extreme polar vortex event that occurred in

the Midwest in 2019, which created extreme delays in aircraft fueling, impacting service and operations by necessitating normally nonstop flights international flights to make fueling stops in

other cities. In 2017 United temporarily suspended service to Delhi due to poor air quality concerns from pollution. In September 2020, wildfires in the Pacific Northwest restricted visibility,

requiring United to cancel flights at certain airports in the region. These risks are identified and assessed by Airport Affairs, Environmental Affairs, Network Operations, and Risk

Management. These departments constantly evaluate and respond to weather-related events, focus on improving aircraft performance, and work with local airport authorities to ensure that

adequate airport runway capacity and operating capabilities are in place.

Chronic

physical

Relevant,

always

included

Chronic physical risks relevant to United include changes in mean (average) temperature, changes in mean (average) precipitation, and sea level rise that may result in impacts to United’s

flight operations as well as changes in consumer preferences that may impact demand for United’s travel services. For example, there may be changes to traditional winter sports vacation

destinations if temperature increases impact the desirability of these destinations. By way of further example, in winter 2017-18 there was lower than normal snowfall in markets such as

Colorado and Montana that resulted in reduced travel demand. These risks are identified and assessed by Airport Affairs, Environmental Affairs, and Network Operations. These

departments constantly evaluate and respond to weather-related events, focus on improving aircraft performance, and work with local airport authorities to ensure adequate airport runway

capacity and operating capabilities are in place.

C2.3

(C2.3) Have you identified any inherent climate-related risks with the potential to have a substantive financial or strategic impact on your business?

Yes

C2.3a

(C2.3a) Provide details of risks identified with the potential to have a substantive financial or strategic impact on your business.

Identifier

Risk 1

Where in the value chain does the risk driver occur?

Direct operations

Risk type & Primary climate-related risk driver

Emerging regulation Mandates on and regulation of existing products and services

Primary potential financial impact

Increased direct costs

Climate risk type mapped to traditional financial services industry risk classification

CDP Page of 756

Company-specific description

Climate change-related regulations on fuel or mandates to purchase sustainable aviation fuel (SAF), like that which entered effect in Sweden in 2019, could cause the price

of fuel to rise and increase the company’s operational costs. During normal operating conditions, and prior to the COVID-19 pandemic, jet fuel consumption was United’s

second largest cost (comprising of 23% of operating expenses), so any increase in fuel prices due to regulations is expected to cause operational costs to rise.

Time horizon

Medium-term

Likelihood

Very likely

Magnitude of impact

Medium-high

Are you able to provide a potential financial impact figure?

Yes, a single figure estimate

Potential financial impact figure (currency)

89530000

Potential financial impact figure – minimum (currency)

Potential financial impact figure – maximum (currency)

Explanation of financial impact figure

This figure assumes a 1% increase in United’s fuel expense, which was $9.0 billion pre-COVID-19 (representing typical operations). This figure is only for demonstrative

purposes of how one could start to estimate the potential financial impact, and should not be construed as an accurate projection of United’s future financial impact. The

financial implications cannot be estimated at this time due to the lack of certainty around the policy actions of numerous countries. The financial impacts to United include

the potential for increased fuel costs, carbon taxes or fees, and/or a requirement to purchase carbon instruments

Cost of response to risk

290000000

Description of response and explanation of cost calculation

United’s “100% Green” climate commitment—a goal to achieve carbon neutrality by 2050 without the use of traditional carbon offsets—aligns with the strategy and

direction of today’s many consumers, policymakers, and investors: transitioning to a clean energy economy by 2050. United has been an aviation industry leader, in

promoting sustainable aviation fuel (SAF) production and adoption through both purchasing SAF volumes and investing in SAF producers. To date, United has made the

largest investments by an airline in sustainable aviation fuel (SAF) development through its purchase agreement with World Energy and its $30 million equity investment

and long-term supply agreement with Fulcrum BioEnergy for 90 million gallons of SAF per year for a minimum of 10 years (this supply has not yet begun). Most recently,

United launched United Airlines Ventures, a corporate venture capital fund of $200 million that will concentrate on sustainability technology investments. Earlier in 2021,

United entered the electric aircraft space by investing $20 million in Archer Aviation, a company designing, manufacturing, and operating electric vertical takeoff and landing

(eVTOL) aircraft, as well as Heart Aerospace, a regional electric aircraft manufacturer. In 2020, United announced a commitment to invest in carbon capture and

sequestration technology, through planned investment in 1PointFive, the developer of the world’s largest direct air capture facility, to broaden its decarbonization technology

portfolio. In 2019, United made an additional $40 million commitment toward a new investment vehicle focused on accelerating the development of SAF and other

decarbonization technologies. Taking delivery of new and more fuel-efficient aircraft is an important factor in United’s long-term fleet strategy. United took delivery of eight

fuel-efficient 737 MAX aircraft in 2020, and an additional nine to date in 2021. These aircraft are significantly more fuel-efficient than the previous model and United expects

to receive delivery of 15 additional 737 MAX aircraft by the end of 2021.

Comment

Identifier

Risk 2

Where in the value chain does the risk driver occur?

Downstream

Risk type & Primary climate-related risk driver

Reputation Shifts in consumer preferences

Primary potential financial impact

Decreased revenues due to reduced demand for products and services

Climate risk type mapped to traditional financial services industry risk classification

Company-specific description

United monitors public opinion and investor interest in climate change, and the perceptions of its stakeholders regarding airlines’ impact on the climate. United understands

that climate change is increasingly attracting public, investor, and political attention worldwide. As a result, United recognizes the importance of addressing these concerns

and communicating with the company’s stakeholders—customers, investors, employees, shareholders, and communities—to raise awareness and provide updates on the

company’s environmental efforts. If stakeholder perceptions negatively influence consumer choice and loyalty, this could reduce demand for United’s services and possibly

impact the company’s revenue. While customer surveys have shown that mitigating GHG emissions is customers’ top environmental concern for United, United has not

identified any shifts in consumer preferences at this time.

Time horizon

Medium-term

Likelihood

More likely than not

Magnitude of impact

Medium

CDP Page of 757

Are you able to provide a potential financial impact figure?

Yes, a single figure estimate

Potential financial impact figure (currency)

43259000

Potential financial impact figure – minimum (currency)

Potential financial impact figure – maximum (currency)

Explanation of financial impact figure

This figure assumes a 0.1% reduction in revenue, which was $43.3 billion pre-COVID-19 (representing typical operations). This figure is only for demonstrative purposes of

how one could start to estimate the potential financial impact, and should not be construed as an accurate projection of United’s future financial impact. The financial

implications cannot be estimated at this time due to lack of certainty around the degree to which stakeholder perceptions are affecting consumer choice and loyalty.

Cost of response to risk

100000

Description of response and explanation of cost calculation

Recognizing the increased focus on climate-related risk mitigation across corporations worldwide, and the need to aid in the transition to a clean energy economy, United

announced its “100% Green” climate commitment: a goal to achieve carbon neutrality by 2050 without the use of traditional carbon offsets. This commitment aligns with the

expectation of today’s many consumers, policymakers, and investors, who are expecting a transition toward a clean energy (or net-zero) economy no later than 2050.

United focuses on enhancing and improving its climate programs to reduce the company’s impact on the environment. United is committed to pursuing reductions in fuel

consumption including, but not limited to, improvements in aircraft fuel efficiency. In the short term, United is pursuing a number of fuel efficiency measures and has taken a

leading role in developing the market for sustainable aviation fuel (SAF). In the medium- term, United anticipates the use of the increased market supply of SAF. In the long-

term, United will expand upon its SAF usage and utilize more advanced-stage technologies, such as direct air capture and potentially zero-emissions (e.g., electric) aircraft.

United also mitigates its impact on climate change through investments in more fuel-efficient aircraft. Second, utilizing proprietary channels such as the company’s

corporate responsibility report, corporate website, the Flying Together employee intranet, Hemispheres inflight magazine, and inflight educational videos, United shares

information with its customers, employees, shareholders, and communities to inform them of the activities that the company is undertaking to reduce its impact on the

environment. In 2012, 2014, and 2020 United undertook materiality assessments to better understand the environmental issues and impacts that concern United’s

stakeholders, with climate-related issues ranking high in terms of stakeholder interests. Improved fuel efficiency and aircraft performance, reputation management, and

communications have long been embedded into United’s business strategy, so they are considered fundamental costs of doing business. The cost of management is

$100,000; the approximate cost of 100% of one employee’s time to monitor this risk.

Comment

Identifier

Risk 3

Where in the value chain does the risk driver occur?

Direct operations

Risk type & Primary climate-related risk driver

Current regulation Carbon pricing mechanisms

Primary potential financial impact

Increased indirect (operating) costs

Climate risk type mapped to traditional financial services industry risk classification

Company-specific description

In 2016 the International Civil Aviation Organization (ICAO) adopted the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). CORSIA is expected

to address any annual increase in total GHG emissions from airlines’ international flying above baseline levels. Due to the COVID-19 pandemic, ICAO recently amended

CORSIA such that 2019 emissions will be the baseline year, against which emissions in future years are compared. As part of the scheme, airlines will need to offset any

growth in emissions from 2021 onward. This obligation is expected to increase United’s operating costs due to the need to offset emissions. Approximately 33% of United’s

pre-COVID-19 (representing typical operations) capacity was flown between country-pairs that have volunteered for the first phase of CORSIA (2021-23). If additional

countries join in subsequent years, this number is expected to increase.

Time horizon

Medium-term

Likelihood

Very likely

Magnitude of impact

Medium-low

Are you able to provide a potential financial impact figure?

Yes, a single figure estimate

Potential financial impact figure (currency)

15000000

Potential financial impact figure – minimum (currency)

Potential financial impact figure – maximum (currency)

Explanation of financial impact figure

This figure is based on ICAO and International Energy Agency estimates of the airline industry’s CORSIA costs to buy carbon instruments in 2025, and assumes that

United is responsible for 1% of industry costs ($1.5 billion) under ICAO’s Optimistic scenario (with Additional Low carbon price). This figure is only for demonstrative

purposes of how one could start to estimate the potential financial impact, and should not be construed as an accurate projection of United’s financial exposure. Attributing a

CDP Page of 758

cost to CORSIA is not currently possible due to numerous uncertainties, including (see Comment section, insufficient space due to character limits).

Cost of response to risk

70000000

Description of response and explanation of cost calculation

United supports CORSIA as a cooperative global solution for international aviation GHG emissions, as opposed to a patchwork of different and conflicting emission taxes

and regulatory programs across the globe. CORSIA’s impact is a function of international, or long-haul, flight emissions, and management of the risk requires a review of all

methods of aircraft emissions reductions, including implementing fuel efficiency measures, investing in sustainable aviation fuel (SAF), and investing in new technology and

aircraft, and factoring this incremental cost of offsetting requirements into the company’s pricing and revenue models. United is constantly focused on reducing emissions

by improving its fuel efficiency and aircraft performance, both through its own internal efforts and in conjunction with its suppliers and partners; each new generation of

aircraft has a 15%-20% improvement in fuel efficiency. In addition to addressing this risk, these efforts also serve to reduce United’s overall GHG emissions and

operational costs. To date, United has made the largest investments by an airline in SAF development through its purchase agreement with World Energy and its $30

million equity investment and long-term supply agreement with Fulcrum BioEnergy for 90 million gallons of SAF per year for a minimum of 10 years (this supply has not yet

begun). In 2019 United made an additional $40 million commitment toward a new investment vehicle focused on accelerating the development of SAF and other

decarbonization technologies. SAF procurement that is eligible under the CORSIA standards will be prioritized so as to manage this climate risk.

Comment

Uncertainty arises from a number of sources: - How much of United’s network will be included due to United’s constantly evolving route network and CORSIA’s voluntary

nature through 2026; for example, in 2018 China announced that it would not be participating in the Voluntary Phase as previously anticipated, which decreased United’s

2018 CORSIA obligation flown between countries that volunteered for the first phase relative to total operational capacity (including regional partners) from 39% to 32% -

The price of CORSIA-eligible carbon instruments, given the volatility of these credits’ pricing within the carbon markets - United vs. the airline industry’s GHG emissions as

compared to the CORSIA baseline, as an airline’s offsetting obligation is calculated based on its share of the total industry’s emissions - Proposed government investments

in technology and infrastructure that would reduce GHG emissions and therefore United’s CORSIA costs

C2.4

(C2.4) Have you identified any climate-related opportunities with the potential to have a substantive financial or strategic impact on your business?

Yes

C2.4a

(C2.4a) Provide details of opportunities identified with the potential to have a substantive financial or strategic impact on your business.

Identifier

Opp1

Where in the value chain does the opportunity occur?

Direct operations

Opportunity type

Energy source

Primary climate-related opportunity driver

Use of lower-emission sources of energy

Primary potential financial impact

Reduced indirect (operating) costs

Company-specific description

United has extended its industry leadership in decarbonization by broadening its investment scope from sustainable aviation fuel (SAF) to include additional

decarbonization technologies, such as carbon capture and sequestration and aircraft innovation. To create structure around this portfolio of climate-related investments,

United this year launched United Airlines Ventures, a corporate venture capital fund that will concentrate its portfolio on decarbonization technology ventures.

Time horizon

Medium-term

Likelihood

More likely than not

Magnitude of impact

Medium-high

Are you able to provide a potential financial impact figure?

Yes, a single figure estimate

Potential financial impact figure (currency)

89530000

Potential financial impact figure – minimum (currency)

Potential financial impact figure – maximum (currency)

Explanation of financial impact figure

This figure assumes a 1% decrease in United’s fuel expense, which was $9.0 billion pre-COVID-19 (representing typical operations). This figure is only for demonstrative

purposes of how one could start to estimate the potential financial impact, and should not be construed as an accurate projection of United’s future financial impact. The

financial implications cannot be estimated at this time due to the lack of certainty around the policy actions of numerous countries, future oil prices, and the future availability

and costs of SAF.

Cost to realize opportunity

CDP Page of 759

290000000

Strategy to realize opportunity and explanation of cost calculation

As a leader in advancing the SAF market, United is actively working with strategic partners to generate SAF capable of reducing the company’s GHG emissions and

providing energy diversification. United is vertically integrating into the biofuel supply chain and production because it believes SAF represents an important pathway for the

airline industry to reduce its dependence on traditional fossil fuels, lower its emissions, enhance national security, and support economic growth. To date, United has made

the largest investments by an airline in sustainable aviation fuel (SAF) development through its purchase agreement with World Energy and its $30 million equity

investment and long-term supply agreement with Fulcrum BioEnergy for 90 million gallons of SAF per year for a minimum of 10 years (this supply has not yet begun). Most

recently, United launched United Airlines Ventures, a corporate venture capital fund of $200 million that will concentrate on sustainability technology investments. Earlier in

2021, United entered the electric aircraft space by investing $20 million in Archer Aviation, a company designing, manufacturing, and operating electric vertical takeoff and

landing (eVTOL) aircraft, as well as Heart Aerospace, a regional electric aircraft manufacturer. In 2020 United announced a commitment to invest in carbon capture and

sequestration technology, through planned investment in 1PointFive, the developer of the world’s largest direct air capture facility, to broaden its decarbonization technology

portfolio. In 2019, United made an additional $40 million commitment toward a new investment vehicle focused on accelerating the development of SAF and other

decarbonization technologies.

Comment

Identifier

Opp2

Where in the value chain does the opportunity occur?

Direct operations

Opportunity type

Products and services

Primary climate-related opportunity driver

Shift in consumer preferences

Primary potential financial impact

Increased revenues resulting from increased demand for products and services

Company-specific description

United's CarbonChoice program allows participating corporate customers to receive customized enterprise-level GHG emissions reports specific to their travel on United.

Regulations that require businesses to report their Scope 3 emissions could result in an increased demand for this service. In addition, because United has historically had

better fuel efficiency than its largest competitors, the company may have opportunities to enhance its customer relationships with corporate customers who value lower

Scope 3 emissions from travel.

Time horizon

Medium-term

Likelihood

About as likely as not

Magnitude of impact

Medium

Are you able to provide a potential financial impact figure?

Yes, a single figure estimate

Potential financial impact figure (currency)

43259000

Potential financial impact figure – minimum (currency)

Potential financial impact figure – maximum (currency)

Explanation of financial impact figure

This figure assumes a 0.1% increase in revenue, which was $43.3 billion pre-COVID-19 (representing typical operations). This figure is only for demonstrative purposes of

how one could start to estimate the potential financial impact, and should not be construed as an accurate projection of United’s future financial impact. The financial

implications cannot be estimated at this time due to lack of certainty around the degree to which this program leads to increased corporate customer loyalty.

Cost to realize opportunity

75000

Strategy to realize opportunity and explanation of cost calculation

Recognizing that one of the major roadblocks, particularly after the financial impact of the COVID-19 pandemic, to procuring larger volumes of sustainable aviation fuel

(SAF) is the incremental cost over traditional fuel, United this year launched its Eco-Skies Alliance program. The program offers United’s corporate customers the

opportunity to reduce the environmental impact associated with their travel emissions by paying the additional cost for SAF. This contribution goes beyond traditional

carbon offsets and create a demand signal for low emissions fuels. The cost to realize this opportunity is $75,000 which represents the approximate cost of 75% of one

employee’s time (assumed salary of $100,000) to manage this opportunity.

Comment

Identifier

Opp3

Where in the value chain does the opportunity occur?

Direct operations

Opportunity type

Resilience

Primary climate-related opportunity driver

Participation in renewable energy programs and adoption of energy-efficiency measures

CDP Page of 7510

Primary potential financial impact

Reduced indirect (operating) costs

Company-specific description

United believes air traffic control (ATC) reform is necessary to expedite and ensure the efficient modernization of the U.S. ATC system and ATC systems globally. The

implementation of a modernized air traffic system will create greater efficiencies in flight paths and will lead to greater fuel efficiency for aircraft. The airline industry’s

proposals to separate the U.S. ATC function from the federal government and move it to a newly created not-for-profit organization as well as modernize global ATC

systems may also help advance the timeline for the airline industry to meet its GHG emissions goals.

Time horizon

Medium-term

Likelihood

About as likely as not

Magnitude of impact

High

Are you able to provide a potential financial impact figure?

Yes, a single figure estimate

Potential financial impact figure (currency)

10280000000

Potential financial impact figure – minimum (currency)

Potential financial impact figure – maximum (currency)

Explanation of financial impact figure

In 2015 the Federal Aviation Administration estimated that FAA’s Next Generation Air Transportation System (NextGen ATC) would provide airlines with $51.4 billion in cost

savings from 2013 to 2030. This figure assumes that 20% of these benefits accrue to United. This figure is only for demonstrative purposes of how one could start to

estimate the potential financial impact and should not be construed as an accurate projection of United’s future financial impact.

Cost to realize opportunity

100000

Strategy to realize opportunity and explanation of cost calculation

United is working closely with its industry trade organizations, Airlines for America, the International Air Transport Association, and the Air Transport Action Group, to

develop and implement new technologies (including sustainable aviation fuel) to increase fuel and operational efficiencies, to improve ATC systems and infrastructure, and

to advocate for supportive government policies and investment. This work includes fully implementing the NextGen ATC, which would transform the U.S. air traffic control

system from a radar-based system with radio communication to a satellite-based system. GPS technology would be used to shorten routes, save time and fuel, reduce air

traffic delays, and permit controllers to monitor and manage aircraft with greater safety margins. United and its trade organizations also continue to advocate for

modernization of the ATC system in the EU and other international regions, due to the environmental benefits and associated cost savings. Supporting technology

innovation and air traffic management have long been embedded into United’s business strategy, so they are considered fundamental costs of doing business. The cost of

management presented here represents the approximate cost of 100% of one employee’s time to manage this opportunity.

Comment

C3. Business Strategy

C3.1

(C3.1) Have climate-related risks and opportunities influenced your organization’s strategy and/or financial planning?

Yes, and we have developed a low-carbon transition plan

C3.1a

(C3.1a) Is your organization’s low-carbon transition plan a scheduled resolution item at Annual General Meetings (AGMs)?

Is your low-carbon transition plan a scheduled resolution item at AGMs? Comment

Row 1 No, but we intend it to become a scheduled resolution item within the next two years

C3.2

(C3.2) Does your organization use climate-related scenario analysis to inform its strategy?

Yes, qualitative and quantitative

C3.2a

CDP Page of 7511

(C3.2a) Provide details of your organization’s use of climate-related scenario analysis.

Climate-

scenarios

and

models

applied

Details

2DS United has been reviewing use of a 2º C scenario due to its applicability toward impact analysis specific to airlines, including greenhouse gas (GHG) emissions measures increasing United’s fuel-related

costs, physical impacts to United’s operating environment, and changes in demand for air travel. This scenario has been selected because it is endorsed by the UN IPCC, International Energy Agency,

and the COP21 agreement as being economically feasible and cost effective, while also limiting the impacts of climate change. Although IPCC estimates suggest that a 2º C increase will not be

reached for several decades, United considers impacts on a shorter time horizon (e.g., up to 10 years) due to the high degree of uncertainty beyond this time frame. To date, this analysis has focused

primarily on cost impacts from market-based measures for GHG emissions and physical impacts to United’s operating environment. United’s entire business has been considered as part of this

analysis, with particular focus on fuel use, as 99% of United’s Scope 1 and Scope 2 emissions result from jet fuel consumption. The analysis shows coastal areas where some of United’s markets are

located—like United hubs in Houston, Los Angeles, New York/Newark, and San Francisco—could be most impacted by climate change due to sea level rise and population migration. Approximately

70% of United’s 2019 capacity departed or arrived from these hubs pre-COVID-19. United’s analysis indicates that an increase in fuel-related costs due to GHG emissions is possible but dependent on

implementation of sweeping carbon policy. These results have informed United’s business strategy, indicating that United should continue its existing strategy of actively investing in more fuel-efficient

technologies and aircraft. To date, United has made the largest investments by an airline in sustainable aviation fuel (SAF) development through its purchase agreement with World Energy and its $30

million equity investment and long-term supply agreement with Fulcrum BioEnergy for 90 million gallons of SAF per year for a minimum of 10 years (this supply has not yet begun). Earlier in 2021,

United entered the electric aircraft space by investing $20 million in Archer Aviation, a company designing, manufacturing, and operating electric vertical takeoff and landing (eVTOL) aircraft, as well as

Heart Aerospace, a regional electric aircraft manufacturer. In 2020 United announced a commitment to invest in carbon capture and sequestration technology, through planned investment in 1PointFive,

the developer of the world’s largest direct air capture facility, to broaden its decarbonization technology portfolio. This information directly influenced United’s recent corporate strategy become the first

U.S. airline to publicly commit to a 100% reduction in GHG emissions—without the use of traditional carbon offsets (representing the equivalent of removing 12 million vehicles from the road each year).

Newer and more fuel-efficient aircraft is an important factor in United’s long-term fleet strategy. United took delivery of eight fuel-efficient 737 MAX aircraft in 2020, and an additional nine to date in

2021. These aircraft are significantly more fuel-efficient than the previous model and United expects to receive delivery of 15 additional 737 MAX aircraft by the end of 2021. United currently has 13 of

the Boeing 787-10 aircraft in its fleet and an additional eight787-10s on order, which offers substantially reduced fuel consumption and GHG emissions.

C3.3

(C3.3) Describe where and how climate-related risks and opportunities have influenced your strategy.

Have climate-

related risks

and

opportunities

influenced

your strategy

in this area?

Description of influence

Products

and

services

Yes While the main contributor to United’s carbon footprint is a function of the fuel it consumes, there is a known risk posed by potential shifts in consumer preferences due to climate

change. United has made the medium-term business decision to test and offer products that can respond to those shifts. In 2019 United flew the most eco-friendly commercial flight of

its kind in the history of aviation: on the Flight for the Planet, United became the first known airline to demonstrate all of the following key actions on a single commercial flight - utilization

of sustainable aviation fuel, zero cabin waste efforts, carbon offsetting, and operational efficiencies. While United previously has offered its passengers and cargo customers the ability

to offset GHG emissions associated with their air travel through the company’s CarbonChoice program, in 2021 United launched its Eco-Skies Alliance program, now allowing those

passengers and customers the ability to contribute toward paying for sustainable aviation fuel (SAF) as a long-term solution for addressing the airline’s emissions. United’s CO2

calculator—which calculates emissions footprints—is based on actual routes, aircraft used, load factors, and fuel consumption. Corporate customers can receive customized GHG

emissions reports.

Supply

chain

and/or

value

chain

Yes United’s climate strategy is focused on mitigating GHG emissions from its aircraft, as 99% of United’s Scope 1 and Scope 2 emissions result from jet fuel consumption. As of December

31, 2020, United had $24.3 billion in capital commitments, which primarily relate to business decisions such as the acquisition of aircraft, related spare engines, and aircraft

improvements, but also includes other capital purchase commitments. The time horizon for most of these capital commitments is long-term, due to the useful lifetimes of aircraft. United

has been the global launch customer for seventeen new aircraft types; each new generation of aircraft has a 15%-20% improvement in fuel efficiency. As of December 31, 2020, United

had 298 mainline aircraft on order; these aircraft are expected to replace older, less efficient aircraft currently in service. United also operates a fleet of varied aircraft sizes, allowing it to

align capacity and demand to optimally serve markets as demand in various markets shifts seasonally and over time, thereby reducing United’s GHG emissions. Earlier in 2021, United

entered the electric aircraft space by investing $20 million in Archer Aviation, a company designing, manufacturing, and operating electric vertical takeoff and landing (eVTOL) aircraft,

as well as Heart Aerospace, a regional electric aircraft manufacturer.

Investment

in R&D

Yes For transitional risks and opportunities such as emerging regulations, United continues its aviation industry leadership by promoting sustainable aviation fuel (SAF) production and

adoption through both purchasing SAF volumes and investing in SAF producers. To date, United has made the largest investments by an airline in sustainable aviation fuel (SAF)

development through its purchase agreement with World Energy and its $30 million equity investment and long-term supply agreement with Fulcrum BioEnergy for 90 million gallons of

SAF per year for a minimum of 10 years (this supply has not yet begun). Most recently, United launched United Airlines Ventures, a corporate venture capital fund of $200 million that

will concentrate on sustainability technology investments. Earlier in 2021, United entered the electric aircraft space by investing $20 million in Archer Aviation, a company designing,

manufacturing, and operating electric vertical takeoff and landing (eVTOL) aircraft, as well as Heart Aerospace, a regional electric aircraft manufacturer. In 2020 United announced a

commitment to invest in carbon capture and sequestration technology, through planned investment in 1PointFive, the developer of the world’s largest direct air capture facility, to broaden

its decarbonization technology portfolio. In 2019, United made an additional $40 million commitment toward a new investment vehicle focused on accelerating the development of SAF

and other decarbonization technologies.

Operations Yes Climate change’s impact, in the short term, impacts United’s operational strategy. Because United’s business utilizes jet fuel and, as a result, is tied to the physical environment and

GHG emissions, United recognizes the need to adapt its operations and to proactively develop appropriate responses to climate change. In order to maximize fuel efficiency, United’s

business decision to actively pursue an array of fuel efficiency measures include: optimizing flight procedures, maintaining aircraft for optimal fuel efficiency, reducing weight of items on

board aircraft, reducing fuel consumption on the ground, and optimizing the network and schedule. Since 2013 United has had a long-term mainline upgauging initiative; replacing

smaller aircraft with fewer flights on larger aircraft generally results in even higher fuel efficiency benefits than just replacing aircraft with newer generation aircraft. United has also found

opportunities to address climate-related risks through its ground handling operations. In 2019 United partnered with ITW GSE to pilot the first electric ground power unit in North America,

and has since deployed six across its hub operations.

C3.4

CDP Page of 7512

(C3.4) Describe where and how climate-related risks and opportunities have influenced your financial planning.

Financial

planning

elements

that have

been

influenced

Description of influence

Row

Revenues

Direct costs

Indirect

costs

Capital

expenditures

Capital

allocation

Acquisitions

and

divestments

United’s climate strategy is focused on mitigating GHG emissions from its aircraft, as 99% of United’s Scope 1 and Scope 2 emissions result from jet fuel consumption. For new GHG

regulations, United seeks to determine the most effective levers for managing the risk, which could include reducing the company’s GHG emissions by further investing in new technology and

aircraft over the next 2-10 years. As of December 31, 2020, United had $24.3 billion in capital commitments, which primarily relate to the acquisition of aircraft, related spare engines, and aircraft

improvements, but also includes other capital purchase commitments; a 1% increase would result in $267 million in additional capital expenditures. United believes the magnitude of impact on

financial planning processes around capital expenditures is low. For new GHG regulations, United seeks to determine the most effective levers for managing the risk, which could include

factoring this incremental cost into the company’s pricing and revenue models. Over the next 2-10 years, reputational impacts could also result in positive or negative impacts to United’s

revenue, which was $43.3 billion prior to the COVID-19 pandemic (representing typical operations). Based on pre-COVID-19 earnings, a 0.1% change to United’s revenue is approximately

$43.3 million per year. United believes the magnitude of impact on financial planning processes around revenues is low. Another lever for managing risk around new GHG regulations could

include carbon market-based measures. ICAO and International Energy Agency forecasts estimate the cost to the airline industry of the Carbon Offsetting and Reduction Scheme for

International Aviation (CORSIA) in 2025 to be $1.5 billion under ICAO’s Optimistic scenario (with Additional Low carbon price); a 1% exposure to such costs would increase United’s operational

costs by $15 million in 2025. Physical impacts could also result in impacts to United’s fuel costs, which were $9.0 billion prior to the COVID-19 pandemic, or to United’s operational performance

over the next 10-30 years; an estimate from FAA figures suggest delay costs for United were as high as $1.3 billion in 2017 (FAA estimated $6.4 billion for all U.S. airlines × United’s

approximately 20% share of the U.S. domestic market); a 1% increase in such costs to United would result in $13 million in additional costs. United believes the magnitude of impact on financial

planning processes around operating impacts is low. New GHG regulations and United’s “100% Green” commitment to carbon neutrality will also factor into United further investing in

sustainable fuels over the next 2-10 years. In addition to sustainable fuels, United continues to actively invest in other decarbonization technologies, such as new aircraft and engine

technologies. United has been an aviation industry leader, in promoting sustainable aviation fuel (SAF) production and adoption through both purchasing SAF volumes and investing in SAF

producers. To date, United has made the largest investments by an airline in sustainable aviation fuel (SAF) development through its purchase agreement with World Energy and its $30 million

equity investment and long-term supply agreement with Fulcrum BioEnergy for 90 million gallons of SAF per year for a minimum of 10 years (this supply has not yet begun). Most recently,

United launched United Airlines Ventures, a corporate venture capital fund of $200 million that will concentrate on sustainability technology investments. Earlier in 2021, United entered the

electric aircraft space by investing $20 million in Archer Aviation, a company designing, manufacturing, and operating electric vertical takeoff and landing (eVTOL) aircraft, as well as Heart

Aerospace, a regional electric aircraft manufacturer. In 2020 United announced a commitment to invest in carbon capture and sequestration technology, through planned investment in

1PointFive, the developer of the world’s largest direct air capture facility, to broaden its decarbonization technology portfolio. In 2019, United made an additional $40 million commitment toward

a new investment vehicle focused on accelerating the development of SAF and other decarbonization technologies.

C3.4a

(C3.4a) Provide any additional information on how climate-related risks and opportunities have influenced your strategy and financial planning (optional).

C4. Targets and performance

C4.1

(C4.1) Did you have an emissions target that was active in the reporting year?

Both absolute and intensity targets

C4.1a

(C4.1a) Provide details of your absolute emissions target(s) and progress made against those targets.

Target reference number

Abs 1

Year target was set

2020

Target coverage

Company-wide

Scope(s) (or Scope 3 category)

Scope 1+2 (location-based) +3 (upstream & downstream)

Base year

2007

Covered emissions in base year (metric tons CO2e)

44888416

Covered emissions in base year as % of total base year emissions in selected Scope(s) (or Scope 3 category)

100

Target year

2050

Targeted reduction from base year (%)

100

Covered emissions in target year (metric tons CO2e) [auto-calculated]

Covered emissions in reporting year (metric tons CO2e)

19940767

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% of target achieved [auto-calculated]

55.5770312768443

Target status in reporting year

New

Is this a science-based target?

Yes, we consider this a science-based target, but it has not been approved by the Science-Based Targets initiative

Target ambition

1.5°C aligned

Please explain (including target coverage)

United is pledging to become 100% green by reducing its GHG emissions by 100% by 2050. United, which in 2018 became the first U.S. airline to commit to reducing its

greenhouse gas emissions by 50% by 2050, will advance towards carbon neutrality by continuing its leadership in advancing the sustainable aviation fuels (SAF) market

and by making a multimillion-dollar investment in revolutionary atmospheric carbon capture technology known as Direct Air Capture (DAC) – rather than indirect measures

like carbon offsetting. The planned investment will support the construction of the largest DAC plant in the world, capable of capturing up to 1 million tons of CO2 directly

from the atmosphere every year. This plant is the first of its kind in the U.S. and is expected to capture as much CO2 as the work of 40 million trees.

Target reference number

Abs 2

Year target was set

2015

Target coverage

Company-wide

Scope(s) (or Scope 3 category)

Scope 1

Base year

2015

Covered emissions in base year (metric tons CO2e)

865546

Covered emissions in base year as % of total base year emissions in selected Scope(s) (or Scope 3 category)

2.8

Target year

2030

Targeted reduction from base year (%)

Covered emissions in target year (metric tons CO2e) [auto-calculated]

173109.2

Covered emissions in reporting year (metric tons CO2e)

% of target achieved [auto-calculated]

125

Target status in reporting year

Underway

Is this a science-based target?

No, but we are reporting another target that is science-based

Target ambition

Please explain (including target coverage)

In 2015, United made a $30 million equity investment in Fulcrum BioEnergy, whose sustainable aviation fuel (SAF) is to be derived from municipal solid waste and is

expected to have a greater than 80% reduction in lifecycle GHG emissions. This interim target supports the U.S. airline industry goal—as announced earlier this year by the

U.S. airline trade association, Airlines for America—to make 2 billion gallons of SAF available to U.S. operators by 2030. United has a long-term supply agreement with

Fulcrum for 90 million gallons of SAF per year for a minimum of 10 years, but this supply has not yet begun.

C4.1b

CDP Page of 7514

(C4.1b) Provide details of your emissions intensity target(s) and progress made against those target(s).

Target reference number

Int 1

Year target was set

2009

Target coverage

Company-wide

Scope(s) (or Scope 3 category)

Scope 1

Intensity metric

Other, please specify (Metric tonnes CO2e per revenue ton-mile)

Base year

2009

Intensity figure in base year (metric tons CO2e per unit of activity)

0.00146

% of total base year emissions in selected Scope(s) (or Scope 3 category) covered by this intensity figure

99.6

Target year

2020

Targeted reduction from base year (%)

15.3

Intensity figure in target year (metric tons CO2e per unit of activity) [auto-calculated]

0.00123662

% change anticipated in absolute Scope 1+2 emissions

2.5

% change anticipated in absolute Scope 3 emissions

Intensity figure in reporting year (metric tons CO2e per unit of activity)

0.000587

% of target achieved [auto-calculated]

390.813859790492

Target status in reporting year

Achieved

Is this a science-based target?

Yes, we consider this a science-based target, but it has not been approved by the Science Based Targets initiative

Target ambition

2°C aligned

Please explain (including target coverage)

United's goal of improving mainline fuel efficiency on a revenue ton-mile basis by 1.5% per year is consistent with IATA's fuel efficiency goal for airlines. The goals outlined

by IATA also call for carbon-neutral growth starting in the year 2020, which is expected to mark the conclusion of this goal. This goal therefore covers the jet fuel component

of United’s Scope 1 emissions. In July 2019, the Transition Pathway Initiative (TPI) published a study analyzing the emissions intensity of the most carbon-intensive publicly

traded companies. United was included in TPI’s analysis of the airline industry and determined to be aligned with a below 2º C scenario; only 12% of the 160 companies

received this distinction. Prior to the COVID-19 pandemic, United was closer to achieving this goal, with 72% of the target achieved in 2019. However, the impacts of the

pandemic on the aviation industry had corresponding negative effects on mainline fuel efficiency, as the significantly reduced demand on air travel resulted in our operation

of aircraft with low capacity.

C4.2

(C4.2) Did you have any other climate-related targets that were active in the reporting year?

Net-zero target(s)

C4.2c

CDP Page of 7515

(C4.2c) Provide details of your net-zero target(s).

Target reference number

NZ1

Target coverage

Company-wide

Absolute/intensity emission target(s) linked to this net-zero target

Abs1

Target year for achieving net zero

2050

Is this a science-based target?

Yes, but we have not committed to seek validation of this target by the Science Based Targets initiative in the next 2 years

Please explain (including target coverage)

United is pledging to become 100% green by reducing its GHG emissions by 100% by 2050. United--which became the first U.S. airline, in 2018, to commit to reducing its

greenhouse gas emissions by 50% by 2050—will advance towards carbon neutrality by continuing its leadership in advancing the sustainable aviation fuels (SAF) market

and by making a multimillion-dollar investment in revolutionary atmospheric carbon capture technology known as Direct Air Capture (DAC) – rather than indirect measures

like carbon offsetting. This planned investment will support the construction of the largest DAC plant in the world, capable of capturing up to 1 million tons of CO2 directly

from the atmosphere every year. This plant is the first of its kind in the U.S. and is expected to remove as much CO2 as the work of 40 million trees. We have determined

based on our internal analysis, that this target is aligned with the Science-Based Targets initiative but is not validated yet externally as the aviation industry’s sector-based

Science-Based Targets methodology and standards are still under development.

C4.3

(C4.3) Did you have emissions reduction initiatives that were active within the reporting year? Note that this can include those in the planning and/or

implementation phases.

Yes

C4.3a

(C4.3a) Identify the total number of initiatives at each stage of development, and for those in the implementation stages, the estimated CO2e savings.

Number of initiatives Total estimated annual CO2e savings in metric tonnes CO2e (only for rows marked *)

Under investigation 23

To be implemented* 1 692437

Implementation commenced* 23 2753374

Implemented* 22 59138482

Not to be implemented 0

C4.3b

(C4.3b) Provide details on the initiatives implemented in the reporting year in the table below.

Initiative category & Initiative type

Other, please specify Other, please specify (Energy efficiency in operations - new equipment type)

Estimated annual CO2e savings (metric tonnes CO2e)

29994376

Scope(s)

Scope 1

Voluntary/Mandatory

Voluntary

Annual monetary savings (unit currency – as specified in C0.4)

6873014798

Investment required (unit currency – as specified in C0.4)

Payback period

No payback

Estimated lifetime of the initiative

Ongoing

Comment

Buy new aircraft – Taking delivery of new and more fuel-efficient aircraft is an important factor in United’s long-term fleet strategy. As of December 31, 2020, United had

298 mainline aircraft on order. These aircraft are expected to replace older, less efficient aircraft currently in service; each new generation of aircraft has a 15%-20%

improvement in fuel efficiency. Because aircraft typically have a lifetime of approximately 25 years, buying new aircraft is an extremely long-term investment. Savings

CDP Page of 7516

figures shown reflect United’s improvement in mainline fuel efficiency since 1977 (the oldest year for which we have fuel efficiency data), adjusted for company size (in

available seat-miles) for 2019. Monetary savings were determined by multiplying the gallons of fuel saved by United’s consolidated fuel price pre-COVID-19 (representing

typical operations). As of December 31, 2020, United had $24.3 billion in capital commitments, which primarily relate to the acquisition of aircraft and related spare engines,

and aircraft improvements, but also includes other capital purchase commitments. However, renewing the aircraft fleet has long been embedded into United’s business

strategy, so they are considered fundamental costs of doing business rather than incremental cost drivers.

Initiative category & Initiative type

Company policy or behavioral change Resource efficiency

Estimated annual CO2e savings (metric tonnes CO2e)

448366

Scope(s)

Scope 1

Voluntary/Mandatory

Voluntary

Annual monetary savings (unit currency – as specified in C0.4)

114222222

Investment required (unit currency – as specified in C0.4)

Payback period

No payback

Estimated lifetime of the initiative

Ongoing

Comment

Optimize flight procedures – United works collaboratively across the organization and with ATC providers to improve fuel efficiency through the implementation of best

practices, by providing training to its pilots and dispatchers, and supplying them with the tools needed to execute on those strategies. United has ongoing initiatives in this

area, including: - Choosing more optimal flight paths - Flying at optimal speeds and altitudes - Adopting continuous descents prior to landing - Optimizing traffic flow in

cooperation with ATC providers to reduce time spent in inefficient holding patterns - Investing in navigation technology on current aircraft, allowing shorter and more

efficient approaches In 2015 the Federal Aviation Administration estimated that NextGen ATC would provide airlines with $51.4 billion in cost savings from 2013 to 2030.

The savings figure shown assumes that 20% of these benefits accrue to United. Supporting technology innovation and air traffic management have long been embedded

into United’s business strategy, so they are considered fundamental costs of doing business rather than incremental cost drivers.

Initiative category & Initiative type

Company policy or behavioral change Other, please specify (Change in maintenance procedures)

Estimated annual CO2e savings (metric tonnes CO2e)

900000

Scope(s)

Scope 1

Voluntary/Mandatory

Voluntary

Annual monetary savings (unit currency – as specified in C0.4)

1866785

Investment required (unit currency – as specified in C0.4)

Payback period

No payback

Estimated lifetime of the initiative

Ongoing

Comment

Maintain the aircraft – United works collaboratively across the company to improve fuel efficiency through the implementation of best practices, by providing training to its

mechanics, and supplying them with the tools needed to execute on those strategies. United has ongoing initiatives in this area: - Adding winglets to aircraft - Washing

aircraft to reduce drag - Washing engines to remove unwanted materials and improve efficiency - Real-time monitoring of aircraft performance to identify problems 100% of

United’s eligible mainline aircraft have been refitted beyond the base design with fuel-saving winglets. These winglets improve fuel efficiency by 3-5%. In addition, United

was the launch partner for the Scimitar winglet, which improves fuel efficiency by an additional 2% over the standard winglets on the Boeing 737 and Boeing 757, and has

over 350 aircraft equipped with Scimitar winglets. The savings figures shown reflect the addition of winglets to these aircraft only, and not further initiatives. Monetary

savings were determined by multiplying the gallons of fuel saved by United’s consolidated fuel price pre-COVID (representing typical operations). Reducing fuel use has

long been embedded into United’s business strategy and considered a fundamental cost of doing business rather than an incremental cost driver. The expected payback

period of this initiative is proprietary information. Because we are required to provide a value we have opted to respond ‘No payback.’

Initiative category & Initiative type

Waste reduction and material circularity Other, please specify (Weight optimization )

Estimated annual CO2e savings (metric tonnes CO2e)

412828

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Scope(s)

Scope 1

Voluntary/Mandatory

Voluntary

Annual monetary savings (unit currency – as specified in C0.4)

856289

Investment required (unit currency – as specified in C0.4)

Payback period

No payback

Estimated lifetime of the initiative

Ongoing

Comment

Reduce aircraft weight – United reviews virtually everything on the aircraft for lighter-weight alternatives, as lighter aircraft use less fuel and produce less emissions. United

has ongoing initiatives in this area, including: - Reducing unnecessary fuel on board - Reducing unnecessary water on board - Using lighter cabin materials - Switching from

steel to carbon-fiber brakes The savings figure shown assumes a 1% reduction in United’s pre-COVID-19 operations (using fuel use figures that represent typical

operations). Monetary savings were determined by multiplying the gallons of fuel saved by United’s consolidated pre-COVID-19 fuel price. Reducing fuel use has long been

embedded into United’s business strategy, so it is considered a fundamental cost of doing business rather than an incremental cost driver.

Initiative category & Initiative type

Company policy or behavioral change Resource efficiency

Estimated annual CO2e savings (metric tonnes CO2e)

412828

Scope(s)

Scope 2 (location-based)

Voluntary/Mandatory

Voluntary

Annual monetary savings (unit currency – as specified in C0.4)

856289

Investment required (unit currency – as specified in C0.4)

Payback period

No payback

Estimated lifetime of the initiative

Ongoing

Comment

Reduce fuel consumption on the ground – United has ongoing initiatives in this area, including: - Using a single engine to taxi - Avoiding waiting to park at the gate -

Avoiding APU use at the gate - Towing aircraft to/from hangars instead of taxiing - Switching from fuel- to electric-powered GSE The savings figure shown assumes a 1%

reduction in United’s pre-COVID-19 operations (using fuel use figures that represent typical operations). Monetary savings were determined by multiplying the gallons of

fuel saved by United’s consolidated pre-COVID-19 fuel price . Reducing fuel use has long been embedded into United’s business strategy, so it is considered a

fundamental cost of doing business rather than an incremental cost driver.

Initiative category & Initiative type

Other, please specify Other, please specify (Efficiency in operational processes - optimize network and schedule)

Estimated annual CO2e savings (metric tonnes CO2e)

26965394

Scope(s)

Scope 1

Voluntary/Mandatory

Voluntary

Annual monetary savings (unit currency – as specified in C0.4)

5860102826

Investment required (unit currency – as specified in C0.4)

Payback period

No payback

Estimated lifetime of the initiative

Ongoing

Comment

Optimize network and schedule – United has ongoing initiatives in this area, including: - Optimizing passenger loads through revenue management - Upgauging to larger,

more efficient aircraft on a route - Using aircraft appropriately sized for the market - Using alliance partners to serve distant cities Savings figures shown reflect United’s

improvement in mainline fuel efficiency since 1977 (the oldest year for which we have fuel efficiency data) attributable to load factor improvements, adjusted for company

CDP Page of 7518

size (in revenue passenger-miles) for 2019. Monetary savings were determined by multiplying the gallons of fuel saved by United’s consolidated fuel price pre-COVID-19

(representing typical operations). Optimizing the network and schedule has long been embedded into United’s business strategy, so they are considered fundamental costs

of doing business rather than incremental cost drivers.

Initiative category & Initiative type

Low-carbon energy consumption Liquid biofuels

Estimated annual CO2e savings (metric tonnes CO2e)

3838

Scope(s)

Scope 1

Voluntary/Mandatory

Voluntary

Annual monetary savings (unit currency – as specified in C0.4)

Investment required (unit currency – as specified in C0.4)

70000000

Payback period

No payback

Estimated lifetime of the initiative

Ongoing

Comment

Develop and use sustainable aviation fuel (SAF) – In 2015 United made a $30 million equity investment in Fulcrum BioEnergy, whose SAF is to be derived from municipal

solid waste and is expected to have a greater than 80% reduction in lifecycle GHG emissions as compared to traditional jet fuel. United has a long-term supply agreement

with Fulcrum for 90 million gallons of SAF per year for a minimum of 10 years, but this supply has not yet begun. In 2019 United also made an additional $40 million

commitment toward a new investment vehicle focused on accelerating the development of SAF and other decarbonization technologies. In 2016 United became the first

airline to begin using SAF on an ongoing daily basis. United has worked with World Energy since 2009 to achieve this milestone and in 2019 renewed its purchase

agreement to buy up to 10 million gallons over the next two years; through the end of 2020, over 4 million gallons of this fuel have been purchased. United has integrated

this fuel and its nearly 80% reduction in lifecycle GHG emissions as compared to traditional jet fuel into its everyday operations at Los Angeles International Airport, the

largest continuous use of SAF in the airline industry to date. The payback period of this initiative is proprietary information. Because we are required to provide a value, we

have opted to respond ‘No payback.’

C4.3c

(C4.3c) What methods do you use to drive investment in emissions reduction activities?

Method Comment

Compliance with

regulatory

requirements/standards

The majority of United’s international routes and their associated emissions are expected to be included in the Carbon Offsetting and Reduction Scheme for International Aviation

(CORSIA), and company and airline industry growth above the CORSIA baseline would require United to reduce or offset some of its GHG emissions. United’s Environmental Affairs, Fleet

Strategy, Finance, and Fuel Efficiency departments are working together to determine the optimal strategy to meet United’s obligations through a combination of newer, more efficient

aircraft purchases, fuel efficiency strategies, sustainable aviation fuel adoption, and carbon offsets.

Dedicated budget for

energy efficiency

United makes ongoing investments into renewing its aircraft fleet. As of December 31, 2020, United had 298 mainline aircraft on order. These aircraft are expected to replace older, less

efficient aircraft currently in service; each new generation of aircraft has a 15%-20% improvement in fuel efficiency. As of December 31, 2020, United had $24.3 billion in capital

commitments, which primarily relate to the acquisition of aircraft, related spare engines, and aircraft improvements, but also includes other capital purchase commitments.

Dedicated budget for

low-carbon product

R&D

United has made the largest investments by an airline in sustainable aviation fuel (SAF) development through its purchase agreement with World Energy and its $30 million equity

investment and long-term supply agreement with Fulcrum BioEnergy for 90 million gallons of SAF per year for a minimum of 10 years, but this supply has not yet begun. In 2019 United

also made an additional $40 million commitment toward a new investment vehicle focused on accelerating the development of SAF and other decarbonization technologies. In 2020, in

conjunction with committing to carbon neutrality by 2050, United announced its commitment to investing in direct air capture (DAC) technology, with a project led by 1PointFive, who is

planning the construction of the largest commercial scale DAC facility in the world, licensing Carbon Engineering’s technology. In 2021 United launched United Airlines Ventures, a

corporate venture capital fund that will focus on investments in companies bringing innovation and technology advancements to sustainability and revolutionary aerospace developments.

Dedicated budget for

other emissions

reduction activities

United’s fuel efficiency team analyzes and implements numerous fuel efficiency initiatives, including the areas of: - Optimizing flight procedures - Maintaining the aircraft - Reducing aircraft

weight - Reducing fuel consumption on the ground

Employee engagement Some United work groups have key performance indicators (KPIs) focused on fuel efficiency, such as reducing fuel consumption from running aircraft Auxiliary Power Units while parked at

the gate, and safely reducing the level of Remaining Fuel on Arrival. United also periodically schedules pilot and dispatcher operational efficiency training sessions specifically designed to

harmonize and reinforce United’s fuel efficiency policies and procedures. United has implemented automatic reports with KPIs targeting the work groups that impact fuel use and efficiency.

Financial optimization

calculations

United uses financial savings to drive GHG emissions reductions. During normal operating conditions, and prior to the COVID-19 pandemic, jet fuel consumption was United’s second

largest cost (comprising of 23% of operating expenses). and was responsible for 99% of United’s Scope 1 and Scope 2 emissions, making conserving fuel and reducing GHG emissions

important factors in the company’s financial success.

Internal

incentives/recognition

programs

United executives and certain other managers receive stock-based and annual incentive cash-based awards, whose value is linked to the company’s financial performance, among other

performance metrics. In addition, United’s Profit Sharing Plan enables eligible employees to share in the company’s financial success when United is profitable and earns more than $10

million in pre-tax income during the fiscal year. Finally, the United 100 program recognizes United employees for going above and beyond the normal course of their jobs. United employees

can nominate a co-worker for the United 100 program, which has three levels: Nominee, Quarterly Award Winner, and Annual Award Winner. This recognition program is available to all

employees, and projects related to fuel efficiency or emissions reduction projects could provide a basis for recognition. In 2018, two United employees were recognized as Quarterly Award

winners for their work on emissions reductions, one of whom was further recognized as an Annual Award winner.

Partnering with

governments on

technology

development

United is working closely with the FAA toward the full implementation of the FAA’s Next Generation Air Transportation System, which would transform the U.S. air traffic control system from

a radar-based system with radio communication to a satellite-based system. GPS technology would be used to shorten routes, save time and fuel, reduce air traffic delays, and permit

controllers to monitor and manage aircraft with greater safety margins.

C4.5

CDP Page of 7519

(C4.5) Do you classify any of your existing goods and/or services as low-carbon products or do they enable a third party to avoid GHG emissions?

Yes

C4.5a

(C4.5a) Provide details of your products and/or services that you classify as low-carbon products or that enable a third party to avoid GHG emissions.

Level of aggregation

Company-wide

Description of product/Group of products

United's services allow for the safe, fast, and efficient transportation of passengers and cargo. Unlike other modes of transport, aviation's speed and network make possible

the efficient transportation of passengers and goods across great distances. Air passenger transportation is often incorrectly perceived as extremely carbon intensive.

However, according to data from the Bureau of Transportation Statistics, in 2015 U.S. highway travel required 38.6 gallons of fuel per 1,000 passenger-miles. In contrast, in

2019 United’s consolidated fuel efficiency was 18.0 gallons of fuel per 1,000 passenger-miles, or 54% lower, a large reduction in passengers’ Scope 1 and/or Scope 3

emissions. Had all of United’s customers who flew within the United States’ contiguous 48 states and Canada in 2018 traveled instead via highway, this would have

required an additional 2.5 billion gallons of fuel and resulted in an additional 24 million metric tons of CO2e.

Are these low-carbon product(s) or do they enable avoided emissions?

Avoided emissions

Taxonomy, project or methodology used to classify product(s) as low-carbon or to calculate avoided emissions

Other, please specify (Comparison against other transport modes)

% revenue from low carbon product(s) in the reporting year

% of total portfolio value

Asset classes/ product types

Comment

The % revenue figure reflects the percentage of United’s scheduled capacity within the United States’ contiguous 48 states and Canada pre-COVID-19 (representing typical

operations).

Level of aggregation

Company-wide

Description of product/Group of products

United's services allow for the safe, fast, and efficient transportation of passengers and cargo. Unlike other modes of transport, aviation's speed and network make possible

the efficient transportation of passengers and goods across great distances. Part of United’s network strategy is to use its well-located hubs and Boeing 787 fleet to serve

international destinations with less demand directly from its hubs rather than via third countries or by requiring passengers to connect with alliance partners. These

additional stopovers require additional passenger time and also generate more GHG emissions because of the additional landing and takeoff involved. In 2019 United flew

to 19 international destinations that were not served or were not served nonstop from the U.S. by other U.S. network airlines. For example, in 2017 United launched

nonstop service from San Francisco to Singapore; on other U.S. airlines (or previously on United), flying to Singapore requires/required a stopover in Tokyo or Hong Kong.

This strategy directly reduces passengers’ Scope 3 emissions.

Are these low-carbon product(s) or do they enable avoided emissions?

Avoided emissions

Taxonomy, project or methodology used to classify product(s) as low-carbon or to calculate avoided emissions

Other, please specify (Comparison against sector peers)

% revenue from low carbon product(s) in the reporting year

% of total portfolio value

Asset classes/ product types

Comment

The % revenue figure reflects the percentage of United’s scheduled capacity to/from one of the 19 international destinations that were not served or were not served

nonstop from the U.S. by other U.S. network airlines pre-COVID-19 (representing typical operations).

Level of aggregation

Company-wide

Description of product/Group of products

On March 11, 2016 United made aviation history by becoming the first airline to begin using sustainable aviation fuel (SAF) on an ongoing daily basis. The launch marked a

significant milestone in the airline industry by moving beyond demonstration flights to the use of SAF for United’s ongoing operations, and is the largest use of SAF in the

airline industry to date. This SAF is produced by World Energy from sustainable feedstocks such as non-edible natural oils and agricultural wastes. This SAF provides a

nearly 80% reduction in lifecycle GHG emissions as compared to traditional jet fuel. United has worked with World Energy since 2009 and in 2019 renewed its purchase

agreement to buy up to 10 million gallons over the next two years from World Energy’s previously idle refinery in Paramount, California. United is vertically integrating into

the SAF supply chain because it believes SAF represents an important pathway for the airline industry to reduce its dependence on traditional fossil fuels, lower its

emissions, enhance national security, and support economic growth.

Are these low-carbon product(s) or do they enable avoided emissions?

Low-carbon product

CDP Page of 7520

Taxonomy, project or methodology used to classify product(s) as low-carbon or to calculate avoided emissions

Low-Carbon Investment (LCI) Registry Taxonomy

% revenue from low carbon product(s) in the reporting year

% of total portfolio value

Asset classes/ product types

Comment

The % revenue figure reflects the percentage of United’s scheduled capacity departing from Los Angeles pre-COVID-19 (representing typical operations).

Level of aggregation

Product

Description of product/Group of products

One of the major hurdles, particularly after the financial impact of the COVID-19 pandemic, to procuring larger volumes of sustainable aviation fuel (SAF) is in the higher

cost vs. conventional jet fuel, In 2021 United launched its Eco-Skies Alliance program. The program offers United’s corporate customers the opportunity to reduce the

environmental impact associated with their travel emissions by paying the additional cost for SAF. This contribution goes beyond traditional carbon offsets and create a

demand signal for low-carbon flying.

Are these low-carbon product(s) or do they enable avoided emissions?

Low-carbon product

Taxonomy, project or methodology used to classify product(s) as low-carbon or to calculate avoided emissions

Other, please specify (Comparison against business as usual)

% revenue from low carbon product(s) in the reporting year

% of total portfolio value

Asset classes/ product types

Comment

The % revenue figure is 0 because United does not create any revenue through the purchase of SAF. All money received funds United’s purchase of SAF.

Level of aggregation

Product

Description of product/Group of products

Since 2007 United has offered its passengers the ability to offset GHG emissions associated with their air travel through the company’s CarbonChoice offset program.

United’s CO2 calculator—updated annually—is based on actual routes, aircraft used, load factors, and fuel consumption.

Are these low-carbon product(s) or do they enable avoided emissions?

Low-carbon product

Taxonomy, project or methodology used to classify product(s) as low-carbon or to calculate avoided emissions

Other, please specify (Comparison against business as usual)

% revenue from low carbon product(s) in the reporting year

% of total portfolio value

Asset classes/ product types

Comment

The % revenue figure is 0 because United does not receive any of the proceeds from CarbonChoice. All money received is collected by Conservation International to offset

GHG emissions.

Level of aggregation

Group of products

Description of product/Group of products

United works closely with its United Express partners to reduce their fuel consumption and associated GHG emissions. United sets targets and holds consistent

benchmarking meetings with each partner to review their progress towards a more fuel-efficient operation. In 2021, United entered the electric aircraft space by investing in

Heart Aerospace, a regional electric aircraft manufacturer, developing a 19-seater electric aircraft. In addition to the investment, United has conditionally agreed to

purchase 100 of these electric aircraft for use in its regional network.

Are these low-carbon product(s) or do they enable avoided emissions?

Avoided emissions

Taxonomy, project or methodology used to classify product(s) as low-carbon or to calculate avoided emissions

Other, please specify (Comparison against business as usual)

% revenue from low carbon product(s) in the reporting year

% of total portfolio value

CDP Page of 7521

Asset classes/ product types

Comment

The % revenue figure reflects the percentage of United’s scheduled capacity flown by United’s regional partners pre-COVID-19 (representing typical operations).

C5. Emissions methodology

C5.1

(C5.1) Provide your base year and base year emissions (Scopes 1 and 2).

Scope 1

Base year start

January 1 2007

Base year end

December 31 2007

Base year emissions (metric tons CO2e)

44888416

Comment

United’s baseline year for Scope 1 emissions is 2007, which is the year United-s Eco-Skies program was launched.

Scope 2 (location-based)

Base year start

January 1 2008

Base year end

December 31 2008

Base year emissions (metric tons CO2e)

395804

Comment

United first began measuring its Scope 2 emissions in 2008.

Scope 2 (market-based)

Base year start

January 1 2018

Base year end

December 31 2018

Base year emissions (metric tons CO2e)

201763

Comment

United first began measuring its Scope 2 emissions using market-based emissions factors in 2018.

C5.2

(C5.2) Select the name of the standard, protocol, or methodology you have used to collect activity data and calculate emissions.

ISO 14064-1

C6. Emissions data

C6.1

CDP Page of 7522

(C6.1) What were your organization’s gross global Scope 1 emissions in metric tons CO2e?

Reporting year

Gross global Scope 1 emissions (metric tons CO2e)

15485363

Start date

End date

Comment

99.4% of this figure is from jet fuel from 1/1/2020 through 12/31/2020

C6.2

(C6.2) Describe your organization’s approach to reporting Scope 2 emissions.

Row 1

Scope 2, location-based

We are reporting a Scope 2, location-based figure

Scope 2, market-based

We are reporting a Scope 2, market-based figure

Comment

For most of United’s smaller facilities, payment of electricity use is built into the lease of the associated space. In addition, it is possible that electricity use at some United

buildings/areas may be tracked at some locations but not others. These two barriers make it difficult to track United’s electricity use completely and accurately. For facilities

where data was not available, United has adopted accepted modeling approaches to fill the data gaps.

C6.3

(C6.3) What were your organization’s gross global Scope 2 emissions in metric tons CO2e?

Reporting year

Scope 2, location-based

196066

Scope 2, market-based (if applicable)

175087

Start date

End date

Comment

Scope 2 emissions from 1/1/2020 through 12/31/2020

C6.4

(C6.4) Are there any sources (e.g. facilities, specific GHGs, activities, geographies, etc.) of Scope 1 and Scope 2 emissions that are within your selected reporting

boundary which are not included in your disclosure?

Yes

C6.4a

CDP Page of 7523

(C6.4a) Provide details of the sources of Scope 1 and Scope 2 emissions that are within your selected reporting boundary which are not included in your

disclosure.

Source

F-gas refrigerants

Relevance of Scope 1 emissions from this source

Emissions are not relevant

Relevance of location-based Scope 2 emissions from this source

No emissions excluded

Relevance of market-based Scope 2 emissions from this source (if applicable)

No emissions excluded

Explain why this source is excluded

United expects this to be a de minimis source of emissions (<0.01% of total GHG emissions), therefore quantities and types are not centrally tracked.

Source

F-gas suppressants

Relevance of Scope 1 emissions from this source

Emissions are not relevant

Relevance of location-based Scope 2 emissions from this source

No emissions excluded

Relevance of market-based Scope 2 emissions from this source (if applicable)

No emissions excluded

Explain why this source is excluded

United expects this to be a de minimis source of emissions (<0.01% of total GHG emissions), therefore quantities and types are not centrally tracked.

Source

F-gases used in some aerosol containers

Relevance of Scope 1 emissions from this source

Emissions are not relevant

Relevance of location-based Scope 2 emissions from this source

No emissions excluded

Relevance of market-based Scope 2 emissions from this source (if applicable)

No emissions excluded

Explain why this source is excluded

United expects this to be a de minimis source of emissions (<0.01% of total GHG emissions), therefore quantities and types are not centrally tracked.

C6.5

(C6.5) Account for your organization’s gross global Scope 3 emissions, disclosing and explaining any exclusions.

Purchased goods and services

Evaluation status

Relevant, calculated

Metric tonnes CO2e

3523963

Emissions calculation methodology

United conducted an initial estimate of its emissions from the goods and services it purchased. This estimate was made using United’s 2020 spend on non-fuel suppliers

and multiplying by Trucost’s 2015 estimate for Scope 1 and 2 emissions per revenue intensity for U.S. companies. This category has not been verified and is not part of

United’s official emissions inventory and is therefore excluded from other parts of this year’s CDP response.

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

CDP Page of 7524

Capital goods

Evaluation status

Relevant, calculated

Metric tonnes CO2e

124294

Emissions calculation methodology

United conducted an initial estimate of its emissions from purchasing aircraft. This estimate was made using the weight of aircraft purchased in 2020 and multiplying by the

emissions intensity for aluminum production. The key assumptions in this estimate are that aircraft are made 100% from aluminum (aluminum comprises 80% of a typical

airliner’s airframe weight), and the aluminum was produced in China, which has the most emissions-intensive production in the world. This category has not been verified

and is not part of United’s official emissions inventory and is therefore excluded from other parts of this year’s CDP response.

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

Fuel-and-energy-related activities (not included in Scope 1 or 2)

Evaluation status

Relevant, calculated

Metric tonnes CO2e

4551715

Emissions calculation methodology

United conducted an initial estimate of its emissions related to the production of jet fuel the company used. This estimate was made using the megajoules (MJ) of jet fuel

purchased in 2020 and multiplying by ICAO’s standard value of 89 grams CO2 per MJ, and then subtracting combustion-related emissions as reported in our Scope 1 and

Scope 3, category 4 (regional partners) emissions. This category has not been verified and is not part of United’s official emissions inventory and is therefore excluded from

other parts of this year’s CDP response.

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

Upstream emissions of purchased fuels

Upstream transportation and distribution

Evaluation status

Relevant, calculated

Metric tonnes CO2e

3904923

Emissions calculation methodology

The vast majority of United Express operations are comprised of regional partners operating under a Capacity Purchase Agreement (CPA), under which United purchases

and provides their fuel. The source of data for United Express fuel consumption is the same fuel accounting system that provides United’s mainline jet fuel consumption.

Emission factors and calculation methodology for the United Express operations were also the same. Emissions from GSE not owned by United but operated by CPA

regional partners used a simplified estimation methodology. The listed figure has been externally verified and is part of United’s official emissions inventory and is therefore

included in responses elsewhere in this year’s CDP response. The emissions have been calculated by multiplying the total of each energy type by the relevant emissions

factor from The Climate Registry. General Reporting Protocol, Version 2.0. March 2013.

Percentage of emissions calculated using data obtained from suppliers or value chain partners

100

Please explain

Regional partner aircraft (jet fuel) and ground fleet (diesel)

Waste generated in operations

Evaluation status

Not relevant, explanation provided

Metric tonnes CO2e

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

United’s main product is transportation, so waste generated is expected to be de minimis and therefore not relevant. Emissions from this source would be less than 1% of

total Scope 3 emissions.

CDP Page of 7525

Business travel

Evaluation status

Not relevant, explanation provided

Metric tonnes CO2e

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

Nearly all of United’s business travel is on United’s fleet and therefore incorporated into the Scope 1 and Scope 3, category 4 (regional partners) emissions calculations.

Emissions from this source would be less than 1% of total Scope 3 emissions.

Employee commuting

Evaluation status

Not relevant, calculated

Metric tonnes CO2e

80980

Emissions calculation methodology

This figure was determined using United’s 2020 employee headcount, estimating the number of commutes per year by work group, assuming that all employees drive to

work (likely overstating this figure), and multiplying by the U.S. average commuting distance and average vehicle fuel economy. The COVID-19 pandemic has caused a

drastic increase in the number of employees teleworking, and United has factored this into calculations. Although many United employees commute to work via flights, most

such travel is on United and therefore incorporated into the Scope 1 and Scope 3, category 4 (regional partners) emissions calculations. This category has been externally

verified and is part of United’s official emissions inventory and is therefore included in other parts of this year’s CDP response.

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

Upstream leased assets

Evaluation status

Not relevant, explanation provided

Metric tonnes CO2e

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

United’s main product is transportation, so upstream leased assets are not relevant. Emissions from this source would be less than 1% of total Scope 3 emissions and

upstream leased assets (i.e., office space, hangars) are accounted for in Scope 1 and Scope 2 emissions.

Downstream transportation and distribution

Evaluation status

Not relevant, explanation provided

Metric tonnes CO2e

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

United’s main product is transportation, so distribution of products is not relevant. Emissions from this source would be less than 1% of total Scope 3 emissions.

Processing of sold products

Evaluation status

Not relevant, explanation provided

Metric tonnes CO2e

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

United’s main product is transportation which does not require further processing, so the processing of sold products is not relevant. Emissions from this source would be

less than 1% of total Scope 3 emissions.

CDP Page of 7526

Use of sold products

Evaluation status

Not relevant, explanation provided

Metric tonnes CO2e

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

United’s main product is transportation, so the use of sold products is not relevant. Emissions from this source would be less than 1% of total Scope 3 emissions. Emissions

from sold flights are accounted for in Scope 1 emissions.

End of life treatment of sold products

Evaluation status

Not relevant, explanation provided

Metric tonnes CO2e

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

United’s main product is transportation so the end of life treatment of sold products is not relevant. United provides transportation services, thus there is no end of life

treatment. Emissions from this source would be less than 1% of total Scope 3 emissions.

Downstream leased assets

Evaluation status

Not relevant, explanation provided

Metric tonnes CO2e

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

United’s main product is transportation, so downstream leased assets are not relevant. While United does lease aircraft to other airlines, these are all to United’s regional

partners, so these emissions are included in the category Fuel-and-energy-related activities (not included in Scope 1 or 2).

Franchises

Evaluation status

Not relevant, calculated

Metric tonnes CO2e

162170

Emissions calculation methodology

United currently has one regional partner, SkyWest Airlines, which flies under the United Express banner on an ‘at-risk’ basis, paying United for the rights to use United’s

reservations system and brand, but taking on the commercial risk of operating the flights, including purchasing their own jet fuel. SkyWest operates select routes under the

Essential Air Service program; emissions associated with jet fuel used in this operation are included as Scope 3 emissions.

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

Regional partner aircraft (jet fuel) and ground fleet (diesel)

CDP Page of 7527

Investments

Evaluation status

Relevant, calculated

Metric tonnes CO2e

132244

Emissions calculation methodology

On June 26, 2015, United made an equity investment in Azul Brazilian Airlines; United increased its equity investment further in April 2018. Azul publishes data on its jet

fuel purchases as part of its financial statements. United determined Azul’s total jet fuel-related GHG emissions and multiplied this figure by United’s weighted average

ownership stake for the year. On June 30, 2015, United made a $30 million equity investment in Fulcrum BioEnergy, a start-up sustainable aviation fuel producer. Fulcrum

provided United with their current GHG emissions, which are currently only for their feedstock processing facility near Reno, Nevada. United multiplied the reported GHG

emissions by the appropriate GWP factors and by United’s ownership stake in Fulcrum. This category has been externally verified and is part of United’s official emissions

inventory and is therefore included in other parts of this year’s CDP response.

Percentage of emissions calculated using data obtained from suppliers or value chain partners

100

Please explain

Other (upstream)

Evaluation status

Not relevant, explanation provided

Metric tonnes CO2e

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

No other relevant emissions to report.

Other (downstream)

Evaluation status

Not relevant, explanation provided

Metric tonnes CO2e

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

No other relevant emissions to report.

C6.7

(C6.7) Are carbon dioxide emissions from biogenic carbon relevant to your organization?

Yes

C6.7a

(C6.7a) Provide the emissions from biogenic carbon relevant to your organization in metric tons CO2.

CO2 emissions

from biogenic

carbon (metric

tons CO2)

Comment

Row

5939 In 2016 United became the first airline to begin using sustainable aviation fuel (SAF) on an ongoing daily basis. United has worked with World Energy since 2009 to achieve this milestone

and in 2019 renewed its purchase agreement to buy up to 10 million gallons over the next two years. United has integrated this fuel and its nearly 80% reduction in lifecycle GHG

emissions as compared to traditional jet fuel into its everyday operations at Los Angeles International Airport, the largest continuous use of SAF in the airline industry to date.

C6.10

CDP Page of 7528

(C6.10) Describe your gross global combined Scope 1 and 2 emissions for the reporting year in metric tons CO2e per unit currency total revenue and provide any

additional intensity metrics that are appropriate to your business operations.

Intensity figure

0.0010199

Metric numerator (Gross global combined Scope 1 and 2 emissions, metric tons CO2e)

15660450

Metric denominator

unit total revenue

Metric denominator: Unit total

15355000000

Scope 2 figure used

Market-based

% change from previous year

27.5

Direction of change

Increased

Reason for change

Due to the COVID-19 pandemic, United’s Scope 1 and Scope 2 emissions decreased by 54.7% in 2020, United’s total revenue decreased by 64.5%. United’s 2020

intensity figure increased due to a reduction in travel demand causing United to fly less fuel-efficient aircraft with a reduction in passengers. As travel demand increases,

we expect intensity levels to return to normal.

Intensity figure

0.0012742

Metric numerator (Gross global combined Scope 1 and 2 emissions, metric tons CO2e)

19565263

Metric denominator

unit total revenue

Metric denominator: Unit total

15355000000

Scope 2 figure used

Market-based

% change from previous year

32.4

Direction of change

Increased

Reason for change

Because part of United’s revenue is from its regional partners’ jet fuel consumption, the numerator in this row includes United’s Scope 3 (Upstream transportation and

distribution) emissions from United Express partners operating under a Capacity Purchase Agreement (CPA), under which United purchases and provides their fuel. United

believes answering the question in this manner provides readers with a more comprehensive understanding of United’s emissions intensity. Due to the COVID-19

pandemic, these emissions decreased by 53% in 2020, United’s total revenue decreased by 64.5%. United’s 2020 intensity figure increased due to a reduction in travel

demand causing United to fly less fuel-efficient aircraft with a reduction in passengers. As travel demand increases, we expect intensity levels to return to normal.

C-TS6.15

CDP Page of 7529

(C-TS6.15) What are your primary intensity (activity-based) metrics that are appropriate to your emissions from transport activities in Scope 1, 2, and 3?

Aviation

Scopes used for calculation of intensities

Report Scope 1 + 2 + 3 (category 4)

Intensity figure

0.000264

Metric numerator: emissions in metric tons CO2e

19565263

Metric denominator: unit

p.mile

Metric denominator: unit total

738830000000

% change from previous year

52.2

Please explain any exclusions in your coverage of transport emissions in selected category, and reasons for change in emissions intensity.

Due to the COVID-19 pandemic, United’s GHG emissions for this breakdown decreased by 53% in 2020, United’s RPMs (revenue passenger-miles) decreased by 69.1%.

ALL

Scopes used for calculation of intensities

Report Scope 1 + 2

Intensity figure

0.000587

Metric numerator: emissions in metric tons CO2e

15660450

Metric denominator: unit

t.mile

Metric denominator: unit total

26672000000

% change from previous year

-56

Please explain any exclusions in your coverage of transport emissions in selected category, and reasons for change in emissions intensity.

This breakdown represents United’s progress towards the airline industry’s goal of improving fuel efficiency by an average of 1.5% per year from 2009 to 2020. The impacts

of the COVID-19 pandemic on the aviation industry had corresponding negative effects on mainline fuel efficiency, as the significantly reduced demand on air travel

resulted in our operation of aircraft with low capacity. Due to the COVID-19 pandemic, United’s GHG emissions for this breakdown decreased by 54.7% in 2020, United’s

RTMs (revenue ton-miles) increased by 2.8%.

C7. Emissions breakdowns

C7.1

(C7.1) Does your organization break down its Scope 1 emissions by greenhouse gas type?

Yes

C7.1a

(C7.1a) Break down your total gross global Scope 1 emissions by greenhouse gas type and provide the source of each used greenhouse warming potential

(GWP).

Greenhouse gas Scope 1 emissions (metric tons of CO2e) GWP Reference

CO2 15368628 IPCC Fifth Assessment Report (AR5 – 100 year)

CH4 3211 IPCC Fifth Assessment Report (AR5 – 100 year)

N2O 113526 IPCC Fifth Assessment Report (AR5 – 100 year)

C7.2

CDP Page of 7530

(C7.2) Break down your total gross global Scope 1 emissions by country/region.

Country/Region Scope 1 emissions (metric tons CO2e)

United States of America 7539246

Other, please specify (International Airspace) 7940939

Other, please specify (Non-U.S.A.) 5177

C7.3

(C7.3) Indicate which gross global Scope 1 emissions breakdowns you are able to provide.

By business division

By facility

By activity

C7.3a

(C7.3a) Break down your total gross global Scope 1 emissions by business division.

Business division Scope 1 emissions (metric ton CO2e)

Aircraft 15387784

Natural gas 67279

Ground support equipment 24766

San Francisco Maintenance Facility assets 26851

Dry ice from catering 2015

C7.3b

(C7.3b) Break down your total gross global Scope 1 emissions by business facility.

Facility Scope 1 emissions (metric tons CO2e) Latitude Longitude

Aircraft 15387786 0 0

Ground support equipment 24766 0 0

San Francisco International Airport 27226 37.6167 -122.3833

Newark Liberty International Airport 6434 40.7 -74.1667

Denver International Airport 7886 39.8667 -104.6667

Chicago O’Hare International Airport 8361 41.9667 -87.9

Houston Bush Intercontinental Airport 4812 29.9833 -98.3333

Willis Tower 2 41.8833 -87.63333

Washington Dulles International Airport 1257 38.95 -77.46667

Los Angeles International Airport 80 33.9333 -118.4

Natural gas and other fuel use at airports 12053 0 0

Natural gas use at other facilities 2685 0 0

Dry ice from catering 2015 0 0

C7.3c

(C7.3c) Break down your total gross global Scope 1 emissions by business activity.

Activity Scope 1 emissions (metric tons CO2e)

Mobile sources 15412550

Stationary sources 72813

C-CE7.4/C-CH7.4/C-CO7.4/C-EU7.4/C-MM7.4/C-OG7.4/C-ST7.4/C-TO7.4/C-TS7.4

CDP Page of 7531

(C-CE7.4/C-CH7.4/C-CO7.4/C-EU7.4/C-MM7.4/C-OG7.4/C-ST7.4/C-TO7.4/C-TS7.4) Break down your organization’s total gross global Scope 1 emissions by sector

production activity in metric tons CO2e.

Gross Scope 1 emissions, metric tons CO2e Net Scope 1 emissions , metric tons CO2e Comment

Cement production activities <Not Applicable> <Not Applicable> <Not Applicable>

Chemicals production activities <Not Applicable> <Not Applicable> <Not Applicable>

Coal production activities <Not Applicable> <Not Applicable> <Not Applicable>

Electric utility activities <Not Applicable> <Not Applicable> <Not Applicable>

Metals and mining production activities <Not Applicable> <Not Applicable> <Not Applicable>

Oil and gas production activities (upstream) <Not Applicable> <Not Applicable> <Not Applicable>

Oil and gas production activities (midstream) <Not Applicable> <Not Applicable> <Not Applicable>

Oil and gas production activities (downstream) <Not Applicable> <Not Applicable> <Not Applicable>

Steel production activities <Not Applicable> <Not Applicable> <Not Applicable>

Transport OEM activities <Not Applicable> <Not Applicable> <Not Applicable>

Transport services activities 15485363 <Not Applicable>

C7.5

(C7.5) Break down your total gross global Scope 2 emissions by country/region.

Country/Region Scope 2, location-based

(metric tons CO2e)

Scope 2, market-based

(metric tons CO2e)

Purchased and consumed electricity,

heat, steam or cooling (MWh)

Purchased and consumed low-carbon electricity, heat, steam or cooling

accounted for in Scope 2 market-based approach (MWh)

United States of

America

171426 150447 440848 59577

Other, please

specify (Non-U.S.A.)

24640 24640 45072 0

C7.6

(C7.6) Indicate which gross global Scope 2 emissions breakdowns you are able to provide.

By facility

By activity

C7.6b

(C7.6b) Break down your total gross global Scope 2 emissions by business facility.

Facility Scope 2, location-based (metric tons CO2e) Scope 2, market-based (metric tons CO2e)

Houston Bush Intercontinental Airport 27150 27150

Newark Liberty International Airport 26069 20700

Willis Tower 23948 23948

Chicago O’Hare International Airport 29710 29710

Denver International Airport 18714 15640

San Francisco International Airport 12301 0

Los Angeles International Airport 1756 1756

Washington Dulles International Airport 1520 1520

Other airports 16873 16638

Other facilities 38024 38024

C7.6c

(C7.6c) Break down your total gross global Scope 2 emissions by business activity.

Activity Scope 2, location-based (metric tons CO2e) Scope 2, market-based (metric tons CO2e)

Electricity purchases 196066 175087

Steam purchases 0 0

C-CE7.7/C-CH7.7/C-CO7.7/C-MM7.7/C-OG7.7/C-ST7.7/C-TO7.7/C-TS7.7

CDP Page of 7532

(C-CE7.7/C-CH7.7/C-CO7.7/C-MM7.7/C-OG7.7/C-ST7.7/C-TO7.7/C-TS7.7) Break down your organization’s total gross global Scope 2 emissions by sector production

activity in metric tons CO2e.

Scope 2, location-based, metric tons CO2e Scope 2, market-based (if applicable), metric tons CO2e Comment