Corporate Travel Management (CTD) Guidance summary

Opening remarks and agenda

• FY25 outlook update provided, including revised revenue and EBITDA expectations.

• Investor conference call scheduled for 10:00 am (Sydney) to discuss the update.

Guidance on key objectives

• FY25 Group revenue expected to be approximately 4% below forecast, impacting EBITDA by around $30m compared to 1H guidance.

• RoW (excluding Europe) now anticipates revenue and EBITDA growth of +5% and +10% respectively versus FY24.

• European targets remain on track as previously announced.

Market trends and strategic opportunities

• Economic and tariff uncertainty in North America and Asia has reduced client activity and slowed growth during peak season.

• New client wins YTD have exceeded TTV $1.6b, with about half from Europe, well above the annual target of $1.0bn.