Indigo to distribute 178.8M shares of Frontier to members; Franke to receive ~99.4M shares

Frontier Group Holdings, Inc.

Indigo, holding ~80% of Frontier's shares, will distribute all 178.8M shares pro rata in-kind on/about April 1, 2024.
William A. Franke will receive ~99.4M shares (~44% of outstanding) from the distribution.
Frontier will cease to be a 'controlled company' under Nasdaq rules after the distribution.
Company must establish independent compensation and nominating committees within permitted phase-in periods.
Franke resigns from Nominating and Corporate Governance Committee but remains Chair and director.

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