Saga (SAGA) investor relations material

Trading performance

• Trading for the first four months of the year was in line with expectations, supporting full year guidance.

• Travel segment performed strongly, with Ocean Cruise revenue for H1 expected to exceed last year, driven by 13% growth in booked per diems and a 93% booked load factor.

• River Cruise revenue for H1 is also expected to grow, with booked per diems up 4% and a 93% booked load factor.

• Holidays revenue and passenger numbers for H1 are expected to be ahead of last year, with full-year revenue marginally higher but passenger numbers potentially slightly lower due to more short-haul bookings.

Insurance and partnerships

• Insurance Broking is trading in line with expectations, with new business for motor and home now live under the Ageas partnership.

• A £10.5m contingent consideration payment from Ageas was triggered due to outperformance on policy volumes.

• Private medical and travel insurance policies in force for H1 are expected to be materially higher than at the previous year-end.

Financial position and outlook

• Net Debt reduced to £464.7m at 31 May 2026, down £104.8m year-on-year, with a leverage ratio of 3.2x.

• Available cash at 31 May 2026 was £186.5m.

• The group remains on track to deliver full year guidance and is progressing towards medium-term targets of at least £100m underlying profit before tax and a leverage ratio below 2.0x by January 2030.