Tbo Tek Ltd. · NSE:TBOTEK
Tbo Tek — Investor Day (December 2025)
72 slides from Tbo Tek's investor day presentation, Dec 12, 2025
Slide 1: TBO Tek Investor Presentation filing letter
tbo.com TRAVEL SIMPLIFIED December 12, 2025 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5 th Floor, Plot No. C/1 Dalal Street, G Block, Bandra-Kurla Complex, Bandra (E) Mumbai - 400 001, Maharashtra, India Mumbai - 400 051, Maharashtra, India Scrip
Slide 2: The Future of Luxury Travel Distribution
The Future of Luxury Travel Distribution CLASSIC + TBO THE RIGHT COMBINATION MELISSA KRUEGER CEO, CLASSIC VACATIONS
Slide 3: At Classic We
At Classic We, HAWAII • Build premium vacation packages to the world’s most sought-after destinations. • Partner with consortia and suppliers to drive EUROPE consistent, high-value demand. • Serve travel advisors exclusively, with a strong focus on the luxury segment. CARIBBEAN • Combine human exper
Slide 4: Classic Vacations: Who We Are
Classic Vacations: Who We Are 317 EMPLOYEES 7 29 COUNTRIES U.S. STATES 7 years 1 month AVERAGE TENURE
Slide 5: Classic Vacations: How it started
Classic Vacations: How it started
Slide 6: Our Ecosystem
Our Ecosystem Classic Community
Slide 7: Luxury n.
Luxury n. Access to something not readily available, something that creates great ease.
Slide 8: How Luxury Has Evolved
How Luxury Has Evolved WHEN AVAILABILITY EXPANDS, CURATION BECOMES THE LUXURY 30 YEARS AGO: 20 YEARS AGO: 10 YEARS AGO: TODAY: • No digital trip design • Online search emerges, • Same-day air changes, • Almost anything is but luxury lacked curation real-time room mapping “available”… except time, •
Slide 9: Why Advisors Still Win in a Digital World
Why Advisors Still Win in a Digital World WHEN CHOICE OVERWHELMS, GUIDANCE BECOMES THE LUXURY 99.5% 20% 50% 31% of travelers would increase in monthly of traveler advisors increase in recommend their online booking now book online average booking travel advisor advisors YoY size online YoY Source: R
Slide 10: The B2B Luxury Travel Channel
The B2B Luxury Travel Channel THE $100B “INVISIBLE ENGINE” 12,500 15,000 58,000 100,000 NORTH AMERICAN NORTH AMERICAN NORTH AMERICAN NORTH AMERICAN TRAVEL ADVISORS TRAVEL ADVISORS TRAVEL ADVISORS TRAVEL ADVISORS Numbers current as of December 2025. Subject to change over time.
Slide 11: Classic Vacations + TBO
Classic Vacations + TBO GLOBAL PRODUCT. ADVISOR ENGINE. OPERATIONAL EXCELLENCE. PRODUCT YIELD INTERACTIONAL METHODOLOGIES
Slide 12: The Advisor of the Future
The Advisor of the Future A CLOSER LOOK AT THE MODERN-DAY CUSTOMER • Data-powered • Global connectors • Curators of time • Translators of abundance • Return on life • Sense of community • AI ENABLEMENT “Automate the predictable. Augment the professional. Elevate the personal.”
Slide 13: The New Growth Model
The New Growth Model TECHNOLOGY IS NO LONGER OPTIONAL IN LUXURY TRAVEL “Machine intelligence accelerates work; human intelligence accelerates trust.” TECH-ENABLED GLOBAL PRODUCT ADVISOR OPERATIONAL ADVISOR EXPANSION ACQUISITION & EXCELLENCE ECOSYSTEM • Europe, Caribbean, Indian RETENTION • Service l
Slide 14: Shaping the Future of Luxury Travel, Together
Shaping the Future of Luxury Travel, Together For Travel Advisors: A rare combination of luxury-trained support and fast, modern technology — a pairing no competitor can match. For Consortia: A partner that marries global scale with luxury-grade service, enabling growth without sacrificing standards
Slide 15: TBO.com: Travel Simplified
TBO.com: Travel Simplified Internal & Confidential Presentation 1
Slide 16: Disclaimer
Disclaimer This presentation may contain statements which reflect Management’s current views and estimates and could be construed as forward-looking statements. The future involves risks and uncertainties that could cause actual results to differ materially from the current views being expressed. Th
Slide 17: Global GTM & Growth
Global GTM & Growth Investors Day – Dubai U.A.E. Dec 2025 Internal & Confidential Presentation 3
Slide 18: Agenda
AGENDA Go To Market Blueprint Market framework KAM activation engine Automation & AI Operational Model – CX delight Growth runway Internal & Confidential Presentation
Slide 19: Commercial Strategy
Commercial Strategy Our commercial strategy is built on three fundamentals: ❖ A globally repeatable GTM model that activates new travel advisor markets with high capital efficiency. ❖ A productivity-led sales engine, where every KAM produces disproportionate revenue impact. ❖ A long, multi-year grow
Slide 20: Go To Market
Go To Market Internal & Confidential Presentation 6
Slide 21: GTM (Proven, Repeatable & Efficient)
GTM (Proven, Repeatable & Efficient) A 4-phase approach that scales globally with Data-driven market selection predictable outcomes: KAM-led activation & platform-led scaling 1. Market Intelligence Automation reduces cost-to-serve at scale 2. KAM Activation Lean L1/L2 support structure enables globa
Slide 22: Strategic Pillars – SEP
Strategic Pillars – SEP Our 3 strategic pillars (SEP) are meant to encourage a combination of growth, speed and results driven initiatives Scalability Efficiency Profitability Internal & Confidential Presentation 8
Slide 23: Market Assessment framework
Market Assessment framework Internal & Confidential Presentation 9
Slide 24: Market Assessment
Market Assessment How we evaluate a mark et: Size of travel advisor ecosystem (outbound vs inbound & Corporate vs Leisure, acquisition & enablement) Hotel-heavy booking behaviour & repeat potential Ease of activation (regulation, payments, API/Tech readiness, FX) Competitive intensity & supply gaps
Slide 25: How we prioritize
How we prioritize Tier 1 – Mature, High-Yield (Max imum growth Potential and strategic high value mark ets) 🇺🇸 US | 🇬🇧 UK | 🇩🇪 Germany | 🇫🇷 France | 🇮🇹 Italy | 🇪🇸 Spain | 🇨🇦 Canada Tier 2 – High-Growth, Cost-Efficient (Valuable opportunities, positioning and brand awareness) 🇸🇦…
Slide 26: A Small Market in Africa
A Small Market in Africa ❑ Started with 20K USD sales per Month with 58 Agents with high dependency on our daily support ❑ Hired two KAMs and trained all existing Agents and added 350 additional Agents ❑ Now selling 1M $ a month and heading towards 1.5M and over 500 Agent with much less dependency a
Slide 27: Our Journey In South Africa
Our Journey In South Africa Grown our Sales team from 2 Increased Market share and Local Customer support Onboarded and gained the to 5 From 50AA/KAM to over still growing by expanding to started in South Africa trust of all market 180AA/KAM Teir 2-3 cities. Internal & Confidential Presentation 13
Slide 28: KAM Activation engine
KAM Activation engine Internal & Confidential Presentation 14
Slide 29: KAM Activation
KAM Activation Our operating formula: Deploy the right KAM model (Full-Time vs GSA) New KAMs generate 25-30% more new Transactions accounts/month (vs older KAMs) CRM intelligence drives targeting, prioritization & quality with highest-value targets in sight Fast onboarding for both Retail and API cl
Slide 30: KAM Activation
KAM Activation KAMs are trained to execute a specific, efficient three-step cycle: 1. Acquire 2. Activate 3. Grow Productivity Matters: A new KAM has higher new accounts/month yielding: +80% increase in new agent acquisition With +93% growth in new agent sales This is why our GTM playbook compounds
Slide 31: KAM efficiency and productivity
KAM efficiency and productivity Our most senior KAMs continue to be more New KAM fast and efficient and Productive consistent growth Internal & Confidential Presentation 17
Slide 32: Platform Automation & AI
Platform Automation & AI Internal & Confidential Presentation 18
Slide 33: Automation and AI – Operational efficiency
Automation and AI – Operational efficiency The automation layer that scales without cost: Automation releases human capacity for high-value interactions and reduced cost per booking as volume scales 75% of global tickets auto-classified via automation 40%+ HCN handled by bots Refund flows nearly ful
Slide 34: Epicentre – our very own CRM
Epicentre – our very own CRM Internally developed and tailor made to our needs Internal & Confidential Presentation 20
Slide 35: Operational Model – customer delight
Operational Model – customer delight Internal & Confidential Presentation 21
Slide 36: Operational model
Operational model With a clear goal of delighting our travel agents and simplifying travel: L1 – Centralized Efficiency Global bots + standardized and centralized support High-volume, low-complexity tasks handled instantly L2 – Regional Ex pertise Language & country-specific sales-aligned support Hi
Slide 37: Growth runway
Growth runway Internal & Confidential Presentation 23
Slide 38: Growth runway
Growth runway The TBO Growth Machine: TAM: Top 25 markets represent US$350–500 billion in advisor-addressable spend. • Enter market Growth multipliers: • Onboard advisors Deepen existing markets Expand to High value markets • Activate first booking Sales productivity uplift (KAM) Automation-led marg
Slide 39: We support Growth throughout the Organization
We support Growth throughout the Organization Tech, Product, Legal, across TBO & HO Maximize impact Strategy, Finance, feedback loop Shared KPI & Strategy Supply CX, Sales Growth & Service Buyer Org Effectiveness, Finance, Rev Mgmt & Regions focus Regional-Country- Regions Localization (Market Agent
Slide 40: We Have Chosen to Accelerate Growth
We have Chosen to Accelerate Growth ….. Reasons to believe in our Belief 1 Large Headroom for growth 2 Strong Team and Ex ecution 3 Solid Business Fundamentals Internal & Confidential Presentation
Slide 41: Global Expansion
Global Expansion Our next phase of growth will be profit- dense, data-driven, and globally scalable. With a strengthened sales teams and improved automation capabilities, we are now well positioned to unlock the next layer of value: accelerating organic growth by expanding our footprint into the wor
Slide 42: TBO Travel Distribution Platform
TBO Travel Distribution Platform Internal & Confidential Presentation 28
Slide 43: The "expertise" provided by a travel agent
The "expertise" provided by a travel agent Lowest Price Business Centre Beach hotel Suite with separate access living room Best Price Business Centre Beach Hotel access needed All Inclusive Free Meal Plan cancellation, Flex ible plans Internal & Confidential Presentation 29
Slide 44: The "trust" of human in the loop
The "trust" of human in the loop Internal & Confidential Presentation 30
Slide 45: The platform mission
The platform mission Every relevant product option in the world should be available on our platform and should be fulfilled seamlessly Internal & Confidential Presentation 31
Slide 46: Principles
Principles Support expert use cases Design to operate with large number of suppliers System will make core decisions Internal & Confidential Presentation 32
Slide 47: Overview
Overview • The multi-supplier platform • The system-driven decisions • Platform scalability at low cost/search • AI-led customer support • Seamless discovery experience a.k.a. better than booking.com Internal & Confidential Presentation 33
Slide 48: The multi-supplier platform
The multi-supplier platform Amadeus Sabre Galileo Internal & Confidential Presentation 34
Slide 49: The multi-supply philosophy
The multi-supply philosophy Air Supply • GDS, NDC, Direct, SOTO, LCC fares • Multi GDS (Amadeus, Galileo, Sabre), Multi IATA Hotel Supply • Direct, Third party, DMCs • Static and dynamic rates • All room categories, all rate plans Travel Products • All products – Eurail, Sightseeing, Transfer, Car R
Slide 50: The multi-supply trade off
The multi-supply trade off Internal & Confidential Presentation 36
Slide 51: Overview
Overview • The multi-supplier platform • The system-driven decisions • Platform scalability at low cost/search • AI-led customer support • Seamless discovery experience a.k.a. better than booking.com Internal & Confidential Presentation 37
Slide 52: Inventory Selection
Inventory Selection The Problem - Matching inventory with the demand ❑ Comprehensive model of inventory • Content Quality Score • Hotel, room, rate plan, baggage rule mapping ❑ Aggregate all data on listing page ❑ Intelligent Sequencing The " Mark eting" Opportunity ❑ Market Platinum inventory ❑ Spo
Slide 53: Cross sell
Cross sell Internal & Confidential Presentation 39
Slide 54: Supplier Selection
Supplier Selection Performance-Cost-Value tradeoff ❑ Performance – Latency, Bookability, Fulfillment ❑ Cost • Credit Card Cashback • Override commission slabs to be achieved ❑ Value • Inclusions (Meal voucher, Early check-in etc) • Flexibility (Cancellation policy, name change) Other considerations
Slide 55: Pricing and Arbitrage Discovery
Pricing and Arbitrage Discovery Principles ❑ Our diverse supply captures all that we need to know ❑ Pricing follows value Understanding intrinsic value ❑ Promotions and Offers (long stay, early bird, last minute) ❑ Value adds (early check-in, spa/meal vouchers, bottle of wine) ❑ Occupancy related va
Slide 56: Overview
Overview • The multi-supplier platform • The system-driven decisions • Platform scalability at low cost/search • AI-led customer support • Seamless discovery experience a.k.a. better than booking.com Internal & Confidential Presentation 42
Slide 57: Our Scale
Our Scale ❑ Hotel Traffic has doubled over the past 6 months ❑ Potential supplier level traffic is approx 7 Billion/day ❑ Optimized traffic is about 25% of potential traffic (1.7 Billion/day) Internal & Confidential Presentation 43
Slide 58: Our Efficiency
Our Efficiency ❑ Cost/Search (annualized) has reduced by ~ 30% over the past 6 months Internal & Confidential Presentation 44
Slide 59: Overview
Overview • The multi-supplier platform • The system-driven decisions • Platform scalability at low cost/search • AI-led customer support • Seamless discovery experience a.k.a. better than booking.com Internal & Confidential Presentation 45
Slide 60: AI-led Customer Support
AI-led Customer Support Customer-initiated tickets Supplier-initiated tickets System-Generated Tickets Internal & Confidential Presentation 46
Slide 61: The Impact
The Impact Tick et Source Tick ets/Month Automation coverage Supplier 300K 72% Customer 45K 33% System Generated 150K 72% The tickets solved per person has increased by approximately 70% between April and November Internal & Confidential Presentation 47
Slide 62: Overview
Overview • The multi-supplier platform • The system-driven decisions • Platform scalability at low cost/search • Impeccable customer support • Seamless discovery ex perience a.k .a. better than book ing.com Internal & Confidential Presentation 48
Slide 63: Use Case Demo
Use Case Demo ❑ Guests – 2 adults, 1 child (16 years) ❑ Destination – Dubai ❑ Requirements • Stay in the Palm Area • Need "2 bedrooms" Internal & Confidential Presentation 49
Slide 64: Luxury Connected Trips
Luxury Connected Trips Turning travel inspiration into Reality Internal & Confidential Presentation
Slide 65: Evolving Landscape of Travel
Evolving Landscape of Travel https://www.ubs.com/us/en/wealth-management/insights/global-wealth-report.html Internal & Confidential Presentation https://www.mckinsey.com/industries/travel/our-insights/the-state-of-tourism-and-hospitality-2024
Slide 66: Hence Travel advisors are uniquely equipped for fulfilment… However
Hence Travel advisors are uniquely equipped for fulfilment… However Internal & Confidential Presentation 52
Slide 67: Combining multiple items into one itinerary remains difficult
Combining multiple items into one itinerary remains a difficult & time- intensive task Internal & Confidential Presentation
Slide 68: Combining multiple items into one itinerary remains difficult
Combining multiple items into one itinerary remains a difficult & time- intensive task >30 Products to be booked Internal & Confidential Presentation
Slide 69: Systemic Gaps Limiting Connected Trip Fulfilment
Systemic Gaps Limiting Connected Trip Fulfilment Internal & Confidential Presentation
Slide 70: All the Blocks are Ready to be Connected
All the Blocks are Ready to be “Connected” Global Inventory of sight seeing : 200,000+ tours and experiences across major global destinations, Iconic City Tours, Theme Parks & Entertainment, Cultural & Historical Experiences etc Strong Supplier Network: Direct integrations with top suppliers, aggreg
Slide 71: Connected Trips: Unlocking the Value
Connected Trips: Unlocking the Value Internal & Confidential Presentation
Slide 72: Thank You!
Thank You! Internal & Confidential Presentation 58