Accor : 2026 AG Presentation

Sébastien Bazin

Chairman & CEO

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 2

Besma Boumaza

Group General Counsel & Board Secretary

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 3

Martine Gerow

Chief Financial Officer

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026

4

2025 Results

MONDRIAN,, BURLEIGH HEADS, AUSTRALIA

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 5

FY 2025 Financial Highlights

(1) " CC" MEANS " CONSTANT CURRENCY"

( 2 ) RECURRING EBITDA IS DEFINED AS OPERATING PROFIT BEFORE DEPRECIATION & AMORTIZATION AND OTHER INCOME & EXPENSES

( 3 ) ADJUSTED GROUP NET INCOME DEFINED AS GROUP NET INCOME ADJUSTED FOR OTHER INCOME & EXPENSES, NET OF TAX; SHARE OF PROFIT/ LOSSES FROM ESSENDI AND TAX-RELATED ITEMS. ADJUSTED DILUTED EPS DEFINED AS ADJUSTED GROUP NET INCOME MINUS HYBRID COUPONS DIVIDED BY THE AVERAGE NUMBER OF DILUTED SHARES

( 4 ) MARKET CAPITALIZATION AS OF JANUARY 1 ST , 2025

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 6

1

Vigorous Q4 25 RevPAR +7.0% L/L

vs. Q4 24

2

FY 25 RevPAR +4.2% L/L vs. FY24

above "between +3% and +4%" guidance

3

FY 25 Net Unit Growth at 3.7%

in line with "c.3.5%" guidance

Robust pipeline growth of +10.3%

1

Revenue at €5,639m +4.5% yoy at cc(1)

M&F revenue at €1,428m +5.9% yoy at cc

2

Recurring EBITDA(2) at €1,201m, +13% yoy at cc above the high end of the guidance

M&F Recurring EBITDA margin up 100bps

3

Adjusted EPS(3) up 16% to €1.84

4

Recurring FCF at €632m

53% cash conversion

5

€743m shareholder return in 2025

i.e. 6.5% of the market capitalization(4)

(1) ADJUSTED GROUP NET INCOME DEFINED AS GROUP NET INCOME ADJUSTED FOR OTHER INCOME & EXPENSES, NET OF TAX; SHARE OF PROFIT/ LOSSES FROM ESSENDI AND TAX-RELATED ITEMS. ADJUSTED DILUTED EPS DEFINED AS ADJUSTED GROUP NET INCOME MINUS HYBRID COUPONS DIVIDED BY THE AVERAGE NUMBER OF DILUTED SHARES

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 7

Strong balance sheet & sustained shareholder return

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 8

€400m

€500m

€350m

€743m

€686m

€676m

€655m

€783m

Well sequenced debt maturity profile

3

Group debt average maturity of more

than 4 years and cost of debt at 3.0%

2

Debt maturity extension

with 2 new senior bond issuances

€600m 8-year bond with a 3.50% coupon

€500m 7-year bond with a 3.625% coupon

Share buyback

Dividend €XXm

Total (Share buyback

+ dividend)

€303m

€440m

as % of market cap (beginning of the year)

2025

6.5%

2024

7.5%

2023

11.0%

2020

2.7%

2019

7.3%

2018

5.3%

€400m

€286m

€276m

€300m

€283m

€305m

€300m

1

In 2025, Accor delivered results in line with or above its annual and mid-term guidance

Guidance FY23-2/

Guidance FY25

Actual FY25

REVPAR GROWTH (YOY) NUG

M&F REVENUE GROWTH SMDL EBITDA

GROUP RECURRING EBITDA RECURRING FREE CASH FLOW SHAREHOLDER RETURN

(1) BASED ON GUIDANCE AT + 1 1 - 12 % AT CONSTANT CURRENCY ADJUSTED FOR € 60 M FOREIGN EXCHANGE NEGATIVE IMPACT

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 9

Q1 2026 Business

MERCURE,, SUKABUMI, INDONESIA

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Q1 2026 Highlights

(1) " CC" MEANS " CONSTANT CURRENCY"

NOVOTEL, TANGERANG, INDONESIA

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1

Solid Q1 26 RevPAR growth +5.1% L/L Positive +1.6% RevPAR in March despite Middle East conflict

2

Net Unit Growth at +3.8% LTM accelerating vs. +3.7% in December 2025 Pipeline up +10.3% LTM

3

Revenue at €1,313m, +2.3% yoy at cc(1) M&F revenue at €332m, +8.3% yoy at cc

1

Signing of a memorandum of understanding on the sale of the stake in Essendi

2

Launch of a €225m tranche of share buyback

3

Direct impact of Middle East conflict mostly contained to UAE

with other countries holding up

Solid start of the year with +5.1% Q1 26 RevPAR

Premium, Midscale & Economy Luxury & Lifestyle

Total

otal

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 12

TL&L

Lifestyle

Luxury

+4,2%

+6,0%

+6,8%

PM&E

MEA APAC Americas

ENA

+2,7%

+4,5%

+5,5%

+9,1%

+3.8% NUG and +10.3% growth in pipeline

Premium, Midscale & Economy Luxury & Lifestyle

Pipeline

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 13

14k

Americas

Lifestyle

Luxury

32k

27k

47k

88k

44%

+3.7%

+8.8%

In rooms

MEA APAC

ENA

74k

51k

136k

344k

27%

+12.4%

+3.0%

In rooms

327k

Share price evolution since May 28th, 2025

Basis 100 (as of May 25th, 2026)

120

110

+6%

CAC 40

100

(1)%

ACCOR

90

80

70

May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-2

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 14

€1.35 Dividend proposed for FY 2025

€1.26

€1.35

per share

€1.18

per share

€1.05

per share

per share

€1.05

per share

Subject to the approval of the shareholders during this Shareholders' Meeting

€0.71

2018 2019 2020 2021 2022 2023 2024 2025

( 1 ) EXCEPTIONAL DIVIDEND

15

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 15

Sébastien Bazin

Chairman & CEO

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026

16

The Accor spirit in action in the Middle East

1

2 with our owners

3

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Global arrivals are still resilient

Global inbound arrivals International arrivals by region,

Million international travelers

SOURCE: OXFORD ECONOMICS, APRIL 2026 SOURCE: OXFORD ECONOMICS, APRIL 2026

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5% 5%

8%

8%

6%

6%

8%

7%

4% 4%

13%

(32)%

World

Europe North America

Latin America

Asia

Africa

Middle East

December 2025 forecast April 2026 forecast

13%12%

% y-y growth

2500

2000

1500

1000

2026

conflict

500

0

2015

2020

2025

2030

Base

Upside

Downside

Emblematic Premium, Midscale & Economy openings in 2025

Mercure, Nha Trang, Vietnam

Handwritten, Calvi, France The Sebel, Sydney, Australia

Novotel, Dubai, United Arab Emirates

Mövenpick, Sivota, Greece

Ibis Styles, Hasselt, Belgium

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Emblematic Luxury & Lifestyle openings in 2025

Raffles, Singapore, Singapore

Fairmont, Prague, Czechia MGallery, Panglao, Philippines

Emblems, Chippenham, United Kingdom

25Hours, Sydney, Australia

Delano, Miami, United States of America

ACCOR - COMBINED SHAREHOLDERS' MEETING - MAY 27, 2026 20

Orient Express

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Loyalty/Partnership

TODAY

MEMBERS

PARTNERSHIPS

SUBSCRIPTION PROGRAMS

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La culture Heartists® en 2025

* Or equivalent. Scope A + B : headquarters, subsidiaries and managed sites.

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Mid-term priorities for a sustained profitable growth and value creation

Implement the strategic roadmap and maintain financial discipline Finalise the disposal of Essendi

Capture the growth potential of the Indian market Speed up the roll-out of Ennismore

Integrate AI into our operations

Develop the Group's Talents and our Academies around the world

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 24

Coline Pont

Chief Sustainability Officer

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026

25

An immediate and thorough response to child trafficking allegations

In March 2026, Accor was targeted by a campaign led by a U.S.-based short seller. The report challenged the Group on issues related to child trafficking and exploitation.

In line with its commitments, Accor has since conducted several audits:

1 Internal audit

Objective Assess the allegations raised in the initial report

External audit

2

by

Objective

Assess the robustness of the Group's procedures to prevent and address child sexual exploitation, at all stages of the guest journey, including those not covered in the initial report

GoodCorporation is a leading independent firm specializing in the assessment of corporate policies on business ethics, compliance and sustainability

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 26

Internal audit findings confirm no systemic failure in existing

procedures

Significant methodological biases in how the results were interpreted

Counted as confirmed "acceptances":

1. Conversations ended by hotels that chose to stop responding because the requests appeared suspicious

2. Responses that strictly and explicitly required the presentation of official ID and proof of relationship before any stay could be made

3. Preliminary rate quotes only, guaranteeing neither availability nor actual check-in at the hotel

   A gap between the initial report's findings and what actually happened with hotels

   • Contrary to the initial report's claims: 12 of the 197 hotels contacted sent a commercial response without stating the required conditions

   • The initial report focused on rate inquiries; no stays or reservations were actually completed

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An in-depth external audit, providing actionable insights to strengthen our existing framework

Rigorous fieldwork to test our procedures against operational reality

An opportunity to further strengthen our processes for preventing and addressing child sexual exploitation

Booking

Check-in

Stay

255 hotels assessed in 56 countries across 4 booking channels: email, phone, online booking via Accor and third-party platforms

88 hotels tested across 16 countries,

including the Group's key markets

Booking

Check-in

Stay

25 hotels sent a commercial offer despite the warning signs, across all communication channels

12 hotels took action that was deemed insufficient

9 hotels did not respond to the warning signs

Inconsistent implementation of the WATCH program across countries and ownership models

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 28

A reaffirmed commitment to combating children sexual exploitation

More action-oriented training

• Real-life scenarios to help employees identify, respond to and report suspicious situations

• Covering every stage of the guest journey

• Strengthened monitoring of mandatory training completion

  A stronger legal framework and enhanced monitoring

• Stronger requirements in:

  • our Brand Standards

  • contracts with property owners

• Stricter related sanctions

A coordinated approach with industry and NGOs

• NGOs: ECPAT, the world's largest network dedicated to combating the sexual exploitation of children

• Professional associations:

  • World Sustainable Hospitality Alliance (WSHA)

  • American Hotel & Lodging Association (AHLA)

ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 29

Our responsible hospitality strategy: 4 pillars supporting our purpose

Ensure

FUTURE-PROOF PLACES

Supply chain risk management

Responsible design guidance

Decarbonization, energy, water & waste reduction

Empower ALL TALENT

Respect for human rights

Ethics & sustainability readiness

Diverse talent attraction, growth & belonging

Elevate GUEST EXPERIENCE

Inclusive & accessible stays

Third-party ESG recognition

Sustainable food

Engage BROADER ECOSYSTEMS

Suppliers' sustainability transition

Biodiversity protection

Communities & local impact

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