Slide 1: Stock exchange intimation: Investor Presentation
tbo.com TRAVEL SIMPLIFIED June 02, 2026 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 Cod
Slide 2: TBO.com: Travel Simplified Investor Presentation
TBO.com: Travel Simplified Investor Presentation tbo.com TR .SIMPLIFIED 1
Slide 3: 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 4: TBO at a Glance
TBO at a Glance TBO is now among the top four global B2B travel distributors, with strong growth potential 1 Global Scaled presence Platform Europe 30,000+ 50,000 + Destination Sold2 Transacting Agents2 North America APAC Africa 140 16Mn+ Source Markets2 Hotel Searches Made (B2A)2 Latin America Sour
Slide 5: Our Journey through the years… Organic and Inorganic Growth
Our Journey through the years… Organic and Inorganic Growth Affirma acquired Naspers’ Stake in TBO TBO Naspers Acquired $1Bn GTV Milestone Acquired TBO goes Public and Incorporated Stake in TBO Bookabed AG lists on NSE and BSE 2011 2015 2019 2023 2025 2006 2012 2018 2022 2024 Commenced International
Slide 6: Where to play ?
Where to play ? tbo.com TRAVEL SIMPLIFIED 5
Slide 7: The Big opportunity
The Big opportunity Big Shift in Demographics The Developed World The Developing World Older and Very Prosperous Young, reaching higher income thresholds tbo.com TRAVEL SIMPLIFIED 6
Slide 8: The Big opportunity
The Big opportunity Outbound Travel : New Megatrend 1 More and more people will travel outside of their countries 2 Assisted travel will be a very large opportunity 3 Longer trips with multiple services stitched together. For Older, affluent travelers: expertise, comfort, 4 convenience, and novelty.
Slide 9: TBO has chosen to play in Premium outbound travel space
TBO has chosen to play in Premium outbound travel space Global US $1.9 trillion Travel Market1 Global Outbound US $1.36 trillion Travel Market2 Global Outbound Travel Market – US $912 billion Premium Segment3 Source: 1. 1Lattice Travel & Tourism Industry Report (2023); 2. Management Estimate; 3. Man
Slide 10: Right to win
Right to win tbo.com TRAVEL SIMPLIFIED 9
Slide 11: Online channel is crowded; Lot of whitespace in assisted travel
Online channel is crowded; Lot of whitespace in assisted travel Travel Tour Agencies Operators 1.5Mn+ Search Engines Hotel Players 8 to 10 different players Independent across OTA, Meta TMCs Travel Agents Hotel META OTA TBO is the only global scaled-up player website Search dominating this whitespac
Slide 12: Our platform simplifies travel
Our platform simplifies travel Suppliers Direct APIs or through Retail Selling Buyers Platform supply aggregators Retail Buyers Hotels d \> Travel Agencies Airlines Independent Travel Retail Selling Platform Advisors Travelers Car Rentals Integration API for Enterprise Customers Transfers Payments I
Slide 13: We address key needs of suppliers & buyers
We address key needs of suppliers & buyers Discovery Trust Payments Service Real-time access Supplier Transact in 24x7, multi-lingual to global travel onboarding is respective local pre- and post- inventory of curated by TBO currencies booking support over 1 Million+ with strict SLAs hotels & 750+ P
Slide 14: TBO’s Global Footprint
TBO’s Global Footprint 4 Europe 37% 27% 21% 256% North America 18% APAC 9% 3% 73% 7% 2% 8% 14% Latin America XX% YoY growth rate Regional share of Hotels & Ancillaries segment GTV for Q4’FY26. GTV is calculated basis source market (i.e. location of the booking agent) tbo.com TRAVEL SIMPLIFIED 13
Slide 15: Our platform is core to retail buyers and suppliers
Our platform is core to retail buyers and suppliers The buyer onboarding process has 3 key steps… Marketing Driven Sales Driven Platform Driven Account ~200K Lead generation Nurturing onboarding Registered Travel Agent Base2 Inbound: Website registrations Seamless KYC1 with country specific Data led
Slide 16: Interlinked flywheels enhance value proposition for our partners
Interlinked flywheels enhance value proposition for our partners More More Buyers Data e lu rs e r B va uy f o re Mo Wider More Richer options Network effects Learning effects Transactions insights for Buyers pl l u e rs v a ie r e p o M r Su fo Superior More platform Suppliers experience 15
Slide 17: Our dynamic founding team is backed by an experienced board…
Our dynamic founding team is backed by an experienced board… Ravindra Dhariwal Ankush Nijhawan Gaurav Bhatnagar Akshat Verma Chairman and Independent Co-founder, Joint Managing Co-founder, Joint Managing Chief Technology Officer & Director Director Director Whole-time Director Prior : Pepsico Prior:
Slide 18: …and is supported by a deeply experienced team
…and is supported by a deeply experienced team Gerardo Del Rio Melissa Krueger Akshat Verma Nishant Misra Peter Palli President – International CEO – Classic Vacations Chief Technology Officer Chief Product Officer Chief Supply Officer Prior: Hotelbeds, Dida Travel Prior: Travel Impressions Prior: M
Slide 19: Our strategic vectors that contributed to rapid growth
Our strategic vectors that contributed to rapid growth A B Expand in new Grow buyer Bolster supplier New lines of business New product lines geographies segments network E.g., Paxes, Umrah E.g., Car Rental, Transfers Grow Platform Users Diversified lines of revenue across the globe Strategic Vectors
Slide 20: Our journey of over 20 years
Our journey of over 20 years Strong YoY GTV growth Driving growth through business diversification Investment in technology driving operating leverage Capital efficient business model with strong cash generation Delivering positive shareholder returns 19
Slide 21: Our Business Approach
Our Business Approach Transacting Gross Profit EBITDA GTV Revenue buyers1 Grow Buyer Increase buyer Focus on Focus on multiple Improve base in existing stickiness and product & products, e.g.- operating and new share of wallet geography mix hotels and leverage and geographies and improve ancillaries
Slide 22: Strong quarter, demonstrating structural resilience against geopolitical headwinds
Strong quarter, demonstrating structural resilience against geopolitical headwinds Transacting buyers GTV Revenue Gross Profit Adj. EBITDA (Monthly) Reported 32,751 10,079 Cr. 814 Cr. 494 Cr. 111 Cr. (TBO Organic + CV) Up 15% YoY Up 29% YoY Up 83% YoY Up 59% YoY Up 40% YoY TBO Organic 30,063 9,038 C
Slide 23: KPI Metrics (Without Classic Vacations)
KPI Metrics (Without Classic Vacations) Quarter ended Particulars March 31,2026 December March 31,2025 31,2025 Monthly Transacting Buyers (number) - India 17,806 18,444 18,436 - International 12,257 12,818 9,973 Total 30,063 31,262 28,409 GTV (₹ crore) - Source Market - India 3,709.3 3,723.9 3,391.4
Slide 24: KPI Metrics (Without Classic Vacations)
KPI Metrics (Without Classic Vacations) Quarter ended Particulars March 31,2026 December March 31,2025 31,2025 Gross Profit (₹ crore) – Product - Airlines 37.9 39.9 38.8 - Hotels and ancillary 299.3 298.5 262.5 - Others 17.8 13.5 9.6 Total 355.1 351.9 310.9 Revenue from operations (₹ crore) – Source
Slide 25: Our Strengths
Our Strengths 1 Platform creating network effect 4 Data driven decision making across with interlinked flywheels to the enterprise enhance value proposition for partners 2 Modular and scalable proprietary 5 Founder led company supported by technology platform allowing experienced professional Our fi
Slide 26: Thank You!
Thank You! tbo.com TR .SIMPLIFIED 25