Onespaworld Holdings Limited · NASDAQ:OSW
Onespaworld — Investor Presentation (January 2026)
24 slides from Onespaworld's investor presentation, January 2026
Slide 1: The Global Health and Wellness Company – Investor Presentation January 2026
– The Global Health and Wellness Company – INVESTOR PRESENTATION | January 2026
Slide 2: Disclosure & Forward-Looking Statements
Forward-Looking Statements This Investor Presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the “safe harbor” provisions of the Private Securities Litigatio
Slide 3: Disclosure, Continued
Use of Projections This Investor Presentation contains financial forecasts, including with respect to estimated Revenues, Net Income, Adjusted Net Income, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Unlevered After-Tax Free Cash Flow, Levered After-Tax Free Cash Flow and Unlevered After-Tax Fre
Slide 4: Examples of World Class Facilities at Sea, on Land
EXAMPLES OF WORLD CLASS FACILITIES AT SEA, ON LAND
Slide 5: Key Investment Highlights
• 90+% outsourced spa market share on cruise ships PREEMINENT LEADER • Nearly 20x larger than nearest maritime competitor • ~23M annual captive audience • 20+ consecutive years of global passenger growth 1 KEY INVESTMENT FAVORABLE INDUSTRY • Strong population and demographic trends HIGHLIGHTS DYNAMI
Slide 6: Record Breaking Performance in Q3 2025
ONESPAWORLD OVERVIEW Record Breaking Performance in Q3 2025 • “We delivered a record third quarter at the high end of our guidance, marking our 18th consecutive quarterly period of year-over-year growth in Total Revenues and Adjusted EBITDA.” • “Employing our balanced capital allocation strategy, fu
Slide 7: Guidance
GUIDANCE Q4 2025 ONESPAWORLD, THE PREEMINENT $239.5m-$244.5m $30m-$32m GLOBAL HEALTH & Revenue Adjusted EBITDA1 WELLNESS SERVICES COMPANY FY 2025 $958.5m-$963.5m $122m-$124m Revenue Adjusted EBITDA1 FY 2026 $1.01b-$1.03b $128m-$138m Revenue Adjusted EBITDA1 1. Ple ase see our most recent Form 1 0-K
Slide 8: Long-Term Agreements with the Largest and Most Reputable Cruise Lines
We Operate on All Global Long-Term C-Level Relationships Across Routes and Ship Classes 1 our Entire Fleet 3 Other Asia Australia Cruise Line Relationship Total Ships OSW Ships Banner 31 Years 29 29 LONG-TERM Europe AGREEMENTS WITH 31 Years 28 28 THE LARGEST 25 Years 20 20 AND MOST REPUTABLE North A
Slide 9: New Builds 2024: Fleet Expansion Through Existing Partnerships
New Builds 2024 Q1 Q2 FLEET EXPANSION THROUGH OUR EXISTING PARTNERSHIPS DRIVE YEAR-OVER-YEAR Icon of the Seas Sun Princess Queen Anne Silver Ray GROWTH Q3 Q4 Utopia of the Seas Mitsui Ocean Fuji Aroya Manara Disney Treasure PRIVILEGED, PROPRIETARY AND CONF IDENTIAL 9
Slide 10: New Builds 2025: Fleet Expansion Through Existing Partnerships
New Builds 2025 Q1 Q2 Q3 FLEET EXPANSION THROUGH OUR EXISTING PARTNERSHIPS DRIVE YEAR-OVER-YEAR GROWTH Star of Brilliant the Seas Lady Norwegian Oceania Star Celebrity Aqua Allura Princess Xcel PRIVILEGED, PROPRIETARY AND CONF IDENTIAL 10
Slide 11: Cruise Industry Has Rebounded with Increasing On-Board Spend
ON-BOARD SPEND PASSENGER BOOKINGS 1 ($B) / PCD 2 $18.3 $92.3 $16.9 $15.4 $15.0 $75.4 $11.9 CRUISE INDUSTRY HAS $10.1 $10.5 $9.9 REBOUNDED WITH INCREASING MOMENTUM, AND 2025 EXPECTED TO ECLIPSE 2019 — Q4 Q4 Q1 Q1 Q2 Q2 Q3 Q3 FY FY 2019 2024 2019 2025 2019 2025 2019 2025 2019 2024 AS OF Q3 2025: Norwe
Slide 12: Revenue Sharing Contracts Offer Compelling Value for OneSpaWorld & Cruise Lines
Onboard H ealth & Wellness Products and Services ONESPAWORLD CRUISE LINES REVENUE SHARING CONTRACTS OFFER RESPONSIBILITY RESPONSIBILITY COMPELLING VALUE Recruit, train and manage worldwide FOR ONESPAWORLD & Fund multi-million-dollar buildout onboard staff CRUISE LINES Offer comprehensive and innovat
Slide 13: OneSpaWorld Has the Only Platform with Processes and Infrastructure Necessary
End-to-End Logistics Capabilities BACK-END PLATFORM & FRONT-END PLATFORM & KNOW-HOW KNOW-HOW ONESPAWORLD HAS THE ONLY PLATFORM Global recruiting, training and Yield and revenue human logistics management WITH PROCESSES AND Exceptional pre- through INFRASTRUCTURE Product supply chain facility post-cr
Slide 14: Unmatched Service and Product Breadth Onboard
UNMATCHED SERVICE AND PRODUCT BREADTH ONBOARD Broad Offering of Cruise Passengers an Leading Brands Attractive Demographic * * COMPREHENSIVE SPA & BEAUTY SERVICES SERVICES $114,000 AND CURATED BRANDS MEDI-SPA AVERAGE INC OME SOLD TO AN FITNESS * ATTRACTIVE CAPTIVE AUDIENCE 49 84% HEALTH YEARS OLD MA
Slide 15: Global Cruise Operations Are Highly Complex
Global Passenger Routes GLOBAL CRUISE OPERATIONS ARE HIGHLY COMPLEX In 2024, OneSpaWorld… VISITED EMBARKED ON REQUIRED 1,303 8,131 6,244 GLOBA L PORTS OF CA LL VOYA GES STAFF TO FILL OPEN POSIT IONS MADE PL ACED SENT STAFF ON MORE THAN 1,086 4,251 9,400 MANA GEMENT VISITS TO SHIPS IN PURCHASE ORDERS
Slide 16: More Than 20 Consecutive Years of Global Passenger Growth
GLOBAL CRUISE SHIP PASSENGERS (M) Recession Recession 29.7 28.5 MORE THAN 20 26.7 CONSECUTIVE YEARS 25.2 OF GLOBAL PASSENGER 23.1 22.3 GROWTH 21.3 20.9 20.5 19.1 17.8 17.2 The global cruise 16.6 15.9 industry has proven 14.8 13.9 resilient through 12.6 recessions with 11.5 passenger counts 9.9 9.6 g
Slide 17: Uniquely Visible and Predictable Growth
Growth and Capital Allocation Str at egy Built on the Following Key Dr ivers: 1 Capture Highly Visible New Ship Growth with Current Cruise Line Partners 3 Focus on Enhancing Health and Wellness Center Productivity Cruise capacity growth is highly visible Increase pre-booking and pre-payment and pred
Slide 18: Global Trends to Drive Sector Growth
MULTIPLE MEGA TRENDS DRIVE POSITIVE ROBUST CAPACITY GROWTH IN CRUISING ACROSS GEOGRAPHIES OUTLOOK Global Cruise Capacity Growth: 2020 – 2027 GLOBAL TRENDS TO AGING GLOBAL DRIVE SECTOR POPULATIONS GROWTH 38.7M + PERSISTENT HEALTH & Multiple long-term mega 29.5M WELLNESS TRENDS trends underlie a compe
Slide 19: Introduction of High-Value Services Drives Revenue Growth Across Existing Footprint
Introduction of High-Value Services Drives Revenue Growth Across Existing Footprint SERVICE & PRODUCT OneSpaWorld Medi-Spa Rollout: Vessel Count by Year INNOVATION 147 AC UP UNC TURE 1ST VESSEL 139 EXCLUSIVE & HIGHLY 128 ATTRACTIVE GLOBAL 2005 99 94 CHANNEL FOR HIGH 86 86 75 MARGIN SPA SERVICES FL
Slide 20: Cruise Lines Are Increasingly Aligned with Us to Drive Onboard Revenue
Onboard Spend 1 Historical Collaboration $16.6 Health & Wellness Center SIDE ENGAGEMENT ISOLATED SHORE- Branding & Design CRUISE LINES ARE INCREASINGLY ALIGNED Signage & Limited Marketing WITH US TO DRIVE $6.9 ONBOARD REVENUE New Areas of Collaboration Weekly Budgeting & KPI Review AND ONBOARD COLLA
Slide 21: Strong, Visible and Consistent Revenue & Adjusted EBITDA Growth
Historical Revenue Historical PF Adj. EBITDA1 ($M, FYE Dec.) ($M, FYE Dec.) +12% +26% $1,000 $895 $112 $900 $120 $794 $800 $100 $89 $700 STRONG, $541 $562 $546 $80 $600 $507 VISIBLE AND $500 $453 $476 $56 $59 $60 $49 $53 $50 $400 $45 CONSISTENT REVENUE $300 Pandemic $40 & ADJUSTED EBITDA $200 $121 $
Slide 22: Sustainability and Social Responsibility
PLANET PEOPLE INTEGRITY Sustainability and Social Responsibility We strive to impart a positive impact on the environment and the lives of our employees, our guests, and the people and cultures of the communities we visit, where we operate, and where we call home. To achieve this, our strategic prio
Slide 23: OneSpaWorld, the Preeminent Global Health and Wellness Services Company
ONESPAWORLD, THE PREEMINENT GLOBAL HEALTH AND WELLNESS SERVICES COMPANY U ND IS P U T E D L E A D E R I N A H I GHL Y A T T R A C T I VE I ND US T R Y GL O B A L M E GA T R E N D S D R I V IN G R O B US T S E C T O R G R O W T H C O M P L E X B U S IN E S S M O D E L N O T E A S I L Y R E P L I C AT
Slide 24: Thank You
T H A N K YO U P RI V IL E GED , P R OP R I ET A R Y A N D C ON F ID EN TI A L 25
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