Southwest Airlines Co. (NYSE: LUV) (the "Company") today announced that it will redeem all of its outstanding 4.750% Notes due 2023 (the "Notes"). The aggregate principal amount outstanding of the Notes is $1,234,195,000.  The redemption price for the Notes will be equal to the greater of (i) 100% of the principal amount thereof and (ii) the "make-whole" redemption premium specified in the indenture, as supplemented by the officers' certificates, governing the Notes, plus, in either case, accrued and unpaid interest to the redemption date. The redemption of the Notes is scheduled to occur on August 31, 2022. The Company intends to fund the redemption with cash on hand. On and after the redemption date, the Notes will no longer be deemed outstanding, interest will cease to accrue thereon, and all rights of the holders of the Notes will cease, except for the right to receive the redemption price.

Computershare Trust Company, N.A., as successor trustee to Wells Fargo Bank, National Association, is the trustee for the Notes and is serving as the paying agent for this transaction. Copies of the Notice of Redemption and additional information relating to the redemption of the Notes may be obtained from Computershare Trust Company, N.A., Attn: Corporate Trust Operations, MAC N9300‑070, 600 South Fourth Street, 7th Floor, Minneapolis, MN 55415 or 800 344-5128.