WEB Travel Group (WEB) investor relations material

Opening remarks and agenda

• Meeting opened by the Chair, acknowledging traditional land owners and confirming a quorum, with the agenda followed as published.

• All directors and key management introduced, with the meeting held in a hybrid format for both in-person and online participation.

• Managing Director presented the AGM, outlining the group's performance and strategic direction for FY25.

• The meeting included a business update, formal business, and voting on six resolutions.

Financial performance review

• FY25 marked the demerger of the B2C division, focusing the group on the B2B Webbeds business.

• Bookings up 20% to 8.4 million, TTV up 22% to $4.9bn, revenue up 1% to $328.4m, but EBITDA down 13–14% and NPAT down 22% to $79.2m.

• Lower than expected take rate and margin collapse led to disappointing revenue and profit; no short-term incentives paid.

• Cash position at $363.6m post-demerger, with corporate costs of $18.2m.

• Transition to a new ERP system completed, uncovering and correcting historical payment errors.

Board and executive committee updates

• Two directors departed post-demerger; three new directors joined and sought confirmation at the AGM.

• Board succession and recruitment process detailed, with a global search firm engaged and robust interviews conducted.

• Chair intends to remain until the $10bn TTV goal is reached, with board renewal ongoing.