Accor : 2026 AG Presentation

About this update from Accor Sa

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 RevPAR & NUG accelerating Financial results exceeding guidance (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) From Recurring EB ITDA to net income In € millions FY 2024 FY 2025 RECURRING EBITDA (1) 1,120 1,201 OTHER INCOME & EXPENSES 6 (63) DEPRECIATION & AMORTIZATION (341) (330) OPERATING PROFIT 786 807 SHARE OF PROFITS/LOSSES OF ASSOCIATES AND JVS 188 7 NET FINANCIAL EXPENSE (124) (164) PROFIT BEFORE TAX 850 651 INCOME TAX (193) (152) MINORITY INTERESTS (47) (50) GROUP NET INCOME 610 449 ADJUSTED GROUP NET INCOME (1) 423 504 DILUTED EARNINGS PER SHARE (IN €) 2.33 1.61 ADJUSTED DILUTED EARNINGS PER SHARE (IN €) (1) 1.58 1.84 (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 Balance sheet highlights Shareholder return track record 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 +3-4% +3-5% +6-10% at cc Positive +9-12% at cc >55% c.€3bn cumulated +3-4% c.3.5% N/A 6%+ margin €1,183-1,194m (1) N/A N/A +4.2% +3.7% +6.0% at cc 7.0% margin €95m €1,201m +13% at cc 53% €743m 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 ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 10 Q1 2026 Highlights in a disturbed environment Solid RevPAR & NUG acceleration Delivering on commitments (1) " CC" MEANS " CONSTANT CURRENCY" NOVOTEL, TANGERANG, INDONESIA ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 11 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 Occupancy Rate Average Room Rate XX% RevPAR L/L year-on-year Total otal ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 12 T L&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 LTM Net Unit Growth LTM Pipeline Growth Pipeline as % of Portfolio LTM Net Unit Growth LTM Pipeline Growth Pipeline as % of Portfolio Network 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 28 th , 2025 Basis 100 (as of May 25 th , 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 €0.34 (1) 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 Protecting the teams and guests Close dialog 2 with our owners and local authorities 3 Preparing for the rebound ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 17 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 ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 18 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% 2026 revision % 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 ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 19 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 ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 21 Loyalty/Partnership TODAY 110M+ MEMBERS 110+ PARTNERSHIPS 4 SUBSCRIPTION PROGRAMS VALUE CREATION X3 X2 +10% FOR OUR MEMBERS COME MEMBERS STAY MORE MEMBERS SPEND HOTELS BACK MORE MORE PER NIGHT STRONG +45% +36% X3 TRAJECTORY ENROLLMENTS FY 25 vs FY24 BRAND AWARENESS FY 25 vs FY24 PARTNERSHIPS & SUBSCRIPTIONS CASH-IN OVER 3 YEARS ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 22 La culture Heartists® en 2025 380,000+ associates worldwide ~100,000 new hires in 2025 1,800+ projects carried out with charities 62% of associates do not hold a degree higher than high school diploma* * Or equivalent. Scope A + B : headquarters, subsidiaries and managed sites. Pioneering the art of responsible hospitality, connecting cultures, with heartfelt care. ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 23 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": Conversations ended by hotels that chose to stop responding because the requests appeared suspicious Responses that strictly and explicitly required the presentation of official ID and proof of relationship before any stay could be made 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 ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 27 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 ) These measures reflect our commitment to providing a safe and respectful environment across all our properties and to playing an active role in the global fight against child sexual exploitation 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 ACCOR - SHAREHOLDERS' MEETING - MAY 27, 2026 30

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