EDreams ODIGEO S A : 1Q FY 2022 Results Report

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Results Report 1Q FY 2022 | A brief look at eDreams ODIGEO and KPIs ...............................................................................................................................................................................

eDreams ODIGEO

1.1. A brief look at 1Q FY 2022 eDreams ODIGEO KPIs

2nd

Largest Player

Worldwide

in Flight Revenues

37%		52%		1,216K	39%
45

No 1 European OTA

Mobile

Prime Members

Prime share of

Markets

flight market share

Bookings

+116% YoY

flight Bookings

(From 32%)

(From

564K)

(From

49%)

(From 18%

)

17M

Customers (*)

63%

Diversification

Revenue

+10pp

(From 54% of total)

89%

Product

Diversification

Ratio

3ppt (From 86%)

650

2.1M+

274k+

1.7

Billion

Airlines

Hotels

Flight routes

Monthly

searches

(*)

€3.1M

2.2M

€(1.9)M

€68.4M

Adjusted

Cash EBITDA (***)

Bookings

Revenue Margin

EBITDA (***)

(From

€(12.4)M)

(From

0.4M)

(From

€16.6M)

(From

€(14.7)M

)

(30)pp (**)

Acquisition cost

per booking index

€(15.5)M

Adj Net Income (***)

(From €(23.6)M)

Information presented based on 1Q FY22 vs 1Q FY21 year-on-year variations.

(*) Pre COVID-19. (**) Percentage point reduction since FY15.

(***) See definition and reconciliation of Cash EBITDA, Adjusted EBITDA and Adjusted Net Income in section 6. Glossary of definitions and section 7. Reconciliation.

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Results Report 1Q FY 2022 | A brief look at eDreams ODIGEO and KPIs ...............................................................................................................................................................................

eDreams ODIGEO

| 1.2. Results Highlights

Bookings ahead of Pre-COVID levels

• In June 2021, Bookings improved to even surpass pre-COVID-19 levels.
• In July and August, trading continues to improve and year-on-year growth rates for Bookings vs pre- COVID-19 levels accelerating (July +6% vs FY19; and August +27% vs FY19).

Results are encouraging

• Revenue Margin in 1Q FY22 increased 313%. COVID-19 induced restrictions still resulted in Cash Revenue Margin (*) being 48% below pre-COVID-19 levels (including Prime contribution) due to disproportionate demand in shorter distance flights.
• Cash EBITDA (*) €3.1 million positive.
• Marginal Profit, stood at €13.4 million positive for 1Q FY22, 11x the amount of 1Q FY21.
• Strong liquidity position maintained: €136 million at end July. The liquidity of eDO was never at risk.

Prime continue to reinvent travel and travel proposition

• Leader and inventor of the first and highly successful subscription-based model in travel: Prime.
• Grew Prime members by 116% over the year to 1.2 million subscribers.
• Reached over 1.5 million Prime members in August (500,000 in just 3 months, previous 500,000 took 15 months to achieve).
• We will continue to grow Prime through product innovation and geographic expansion, and
• Achieve our target of 2 million members over one year ahead of schedule. Revised target was before the end of summer 2022. Very likely we will move forward our self-imposed target of last May by another 3-6 months.

eDO will be a clear winner post COVID world

• Unique relationship-based model with customers.

• We have an unrivalled scale advantage and are now number 2 in the world in retailing flights.
• Our market share in Europe grew by 6pp to 37%.
• We have a balanced business with Diversification Revenue of 63%, up +10pp year on year, and mobile Bookings in excess of 50%.

SAVE THE DATE: eDO INVESTOR DAY - WEDNESDAY 17th OF NOVEMBER

1. See definition and reconciliation of Cash Revenue Margin and Cash EBITDA in section 6. Glossary of definitions and section 7. Reconciliation.

| 1.3. Current Trading and Outlook

Trading continues to improve despite travel restrictions still in place

Our current trading demonstrates the strong and rapid turnaround experienced during the summer period.

The Company's booking levels over the past quarter have shown continuous improvement. Bookings in April were -51% compared to the same period of 2019, May showed strong improvement with trading levels reaching -22%. In June, Bookings improved further to surpass pre-COVID-19 levels with positive single-digit average growth rate and in July and August, trading has accelerated further with the Company now seeing strong growth levels.

TRADING CONTINUES TO IMPROVE

eDO Bookings growth vs 2019

Source: Company data until the 29th of August

However, the average basket value remains 35% below 2019 levels as a disproportionate number of consumers are booking short haul due to the continuing uncertainty and restrictions, with less passengers per booking and thus lower booking value. While the long-term outlook for leisure travel is very strong and it is clear that the pandemic has not dampened the desire for leisure travel, we anticipate some remaining volatility over the next few months with government restrictions continuing to change and normal seasonality patterns being thrown off. We expect the current transition period to continue until total travel confidence returns globally.

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