Slide 1: Q1 2026 Results
May 8, 2026 Q1 2026 Results 1 © Amadeus IT Group and its affiliates and subsidiaries © Amadeus IT Group and its affiliates and subsidiaries
Slide 2: Disclaimer
Disclaimer • This presentation may contain certain statements which are not purely historical facts, including statements about anticipated or expected future revenue and earnings growth. Any forward-looking statements in this presentation are based upon information available to Amadeus on the date
Slide 3: Q1 2026 Highlights
Luis Maroto, President & CEO Q1 2026 Highlights 3 © Amadeus IT Group and its affiliates and subsidiaries
Slide 4: Headlines
Headlines • Strong Q1 performance ‒ 8%1 Revenue growth ‒ Solid start across businesses following Q4 strength ‒ Middle East situation slowed volume evolution in March, moderating © Amadeus IT Group and its affiliates and subsidiaries © Amadeus IT Group and its affiliates and subsidiaries quarter perf
Slide 5: Amadeus' strategic position drives commercial momentum
Amadeus’ strategic position drives commercial momentum • Nevio: Lufthansa Group, British Airways, Air France- 46% of Global Passengers KLM, Saudia and Finnair; Navitaire Stratos: TUI Boarded1 Leading the airline retailing Airline and Volotea • Altéa NDC: Southwest Airlines +50% of Top 50 Airlines us
Slide 6: Amadeus: a neutral orchestrator in an AI-enabled travel ecosystem
Amadeus: a neutral Trusted system of record orchestrator in an AI- Amadeus is not a standalone application or a point solution. We are the single source of truth. We operate enabled travel as the trusted, neutral and embedded execution layer for the travel industry. ecosystem 01 © Amadeus IT Group
Slide 7: Financial highlights
Carol Borg, Chief Financial Officer Financial highlights 77 © Amadeus IT Group and its affiliates and subsidiaries © Amadeus IT Group and its affiliates and subsidiaries
Slide 8: Q1 2026 Financial highlights
Q1 2026 Financial highlights Revenue Adjusted EBIT2 Adjusted diluted Free cash flow2,3 €1,683 million, +3% €500 million, +5% EPS2 €274 million © Amadeus IT Group and its affiliates and subsidiaries +8% at cc1 +7% at cc1 €0.86, +9% at cc1 +5% Diluted EPS R&D investment €500 million €0.83 €335 million
Slide 9: Q1 2026 Revenue evolution
Q1 2026 Revenue evolution Q1 evolution, €millions +9.8%1 +4.6%1 +7.9%1 +12.0%1 37 +3.1% 25 (79) 66 © Amadeus IT Group and its affiliates and subsidiaries 1,761 1,683 1,632 Q1 2025 Air IT Hospitality & Air Q1 2026 at cc FX Q1 2026 Solutions Other Solutions Distribution Strong Air IT Solutions perform
Slide 10: Q1 2026 Adjusted EBIT evolution
Q1 2026 Adjusted EBIT1 evolution Q1 evolution, €millions % margin +0.2% +7.8% +3.1% +4.0% +6.6%2 (1) (12) +4.5% 10 50 (16) © Amadeus IT Group and its affiliates and subsidiaries 479 500 510 29.3% 29.7% 29.0% Q1 2025 Revenue Cost of Fixed D&A Q1 2026 FX Q1 2026 at cc revenue costs • Cost of revenue:
Slide 11: Air IT Solutions
Air IT Solutions Q1 Performance Revenue evolution (cc1) 8.6% 0.1 5.6% 6.6% 8.0% • Double-digit revenue growth1, demonstrating resilience of revenue streams not linked to PB 0.1 0.1 2.4% 6.0% 4.0% evolution • Robust 8.6%1 revenue per PB performance (accelerating from +6.6%1 in Q4’25) 2.0 % 0.1 0.0% 1
Slide 12: Hospitality & Other Solutions
Hospitality & Other Solutions Q1 Performance Revenue evolution (cc1) • 9.8% Q1 revenue growth1 • New customer implementations and increased transaction volumes across Hospitality and Payments 13.9% – Hospitality: CRS and Hotel Distribution strong performance © Amadeus IT Group and its affiliates and
Slide 13: Air Distribution
Air Distribution Revenue evolution (cc1) Q1 Performance 0.1 7.1% • Mid single-digit revenue growth1 4.7% 4.4% 4.8% 8.0% 6.0% • Continued strong revenue per booking expansion (+4.8%1 in Q1, in line with Q4’25 and FY’25, 0.1 4.0% 0.1 2.0 % 0.1 0.0% supported by continued positive pricing dynamics) 8.8
Slide 14: Q1 2026 R&D investment and capital expenditure
Q1 2026 R&D investment1 Q1 2026 Capital expenditure €millions €millions As % of 500.0 As % of Revenue 450.0 Revenue 400.0 21.9% 12.7% 19.9% 10.5% 12.0% 250.0 350.0 208 (6.1%) 16 (15.2%) 176 10.0% © Amadeus IT Group and its affiliates and subsidiaries 300.0 200.0 250.0 150.0 11 8.0% 200.0 357 6.0% 33
Slide 15: Free cash flow and net debt / leverage
2025 Free cash flow1 Net debt / Leverage1,2 €millions €millions (At month-end) 445 (15.2%) +22.2% +34.6% 46 34 +5.3% 32 (23) (12) (94.5%) 4.5% 33 639 (18) (274) © Amadeus IT Group and its affiliates and subsidiaries © Amadeus IT Group and its affiliates and subsidiaries 2,586 262 274 2,141 Q1 2025 E
Slide 16: Key takeaways
Key takeaways • Strong Q1, demonstrating resilience of revenue streams not linked to volume • Middle East impact started being felt in March (predominantly, in bookings) © Amadeus IT Group and its affiliates and subsidiaries • In Air IT Solutions, we had a natural hedge from disruption revenues; Hos
Slide 17: Appendix
Appendix 17 © Amadeus IT Group and its affiliates and subsidiaries
Slide 18: IFRS Consolidated income statement
IFRS Consolidated income statement €millions Q1 2026 Q1 2025 Change unless otherwise stated Revenue 1,682.6 1.632.2 3.1% Cost of revenue (428.0) (411.7) 4.0% Personnel and related expenses (492.6) (497.5) (1.0%) Other operating expenses (109.4) (94.6) 15.6% © Amadeus IT Group and its affiliates and
Slide 19: IFRS Consolidated statement of financial position
IFRS Consolidated statement of financial position €millions Mar 31, 2026 Dec 31, 2025 Change Goodwill 3,996.3 3,912.1 84.2 Intangible assets 4,365.1 4,344.1 21.0 Property, plant and equipment 237.5 241.3 (3.8) 510.7 493.8 16.9 © Amadeus IT Group and its affiliates and subsidiaries Rest of non-curren
Slide 20: IFRS Consolidated statement of cash flows
IFRS Consolidated statement of cash flows €millions Q1 2026 Q1 2025 Change Operating income 474.9 461.8 2.8% Depreciation and amortization 177.7 166.5 6.7% Operating income before changes in operating 652.5 628.3 3.9% assets and liabilities and taxes paid Changes in operating assets and liabilities
Slide 21: Segment reporting
Segment reporting €millions Q1 2026 Q1 2025 Change Air IT Solutions revenue 592.5 551.2 7.5% Hospitality & Other Solutions revenue 268.0 259.6 3.2% Air Distribution revenue 822.1 821.3 0.1% Group Revenue 1,682.6 1,632.2 3.1% © Amadeus IT Group and its affiliates and subsidiaries 21
Slide 22: Alternative Performance Measures
Alternative Performance Measures • EBITDA corresponds to Operating income plus Depreciation and amortization plus adjustments to exclude effects that affect the comparability of the current period to the same period of the previous year. EBITDA margin is the percentage resulting from dividing EBITDA
Slide 23: Reconciliations of APMs to IFRS figures – Income Statement
Reconciliations of APMs to IFRS figures – Income Statement €millions, unless otherwise stated Q1 2026 Q1 2025 Operating income 474.9 461.8 Depreciation and amortization 177.7 166.5 One off cloud migration related costs 8.9 0.0 EBITDA 661.4 628.3 Q1 2026 Q1 2025 © Amadeus IT Group and its affiliates
Slide 24: Reconciliations of APMs to IFRS figures – Income Statement
Reconciliations of APMs to IFRS figures – Income Statement €millions, unless otherwise stated Q1 2026 Q1 2025 Profit attributable to owners 357.0 355.3 PPA amortization (after tax) 11.3 12.3 Impairments (after tax) 0.7 0.0 FX gains (losses) (after tax) (2.5) (4.4) Other income (expenses) (after tax)
Slide 25: Reconciliations of APMs to IFRS figures
Reconciliations of APMs to IFRS figures (€millions) Reconciliation of net debt Mar 31, 2026 Dec 31, 2025 Current debt 813.1 684.1 Non-current debt 2,542.5 2,544.3 Financial debt per consolidated financial statements 3,355.6 3,228.4 Operating lease liabilities (115.6) (116.8) Interest payable (23.5)
Slide 26: Key terms
Key terms • “ACRS”: stands for “Amadeus Central Reservation System” • “GDS”: stands for “Global Distribution System” • “ACUS”: stands for “Airport Cloud Use Service” • “HOS”: refers to our operating segment Hospitality & Other • “AD”: refers to our operating segment Air Distribution Solutions • “AI”
Slide 27: Thank you.
Thank you. © Amadeus IT Group and its affiliates and subsidiaries