Lastminute com N : H1 RESULTS – 2025 (20260212 LMN Q4 25 IR Deck)

About this update from Lastminute.com N.v.

Q4 & FY 2025 preliminary unaudited results Q4 2025 Presenters Alessandro Petazzi Chief Executive Officer Diego Fiorentini Chief Financial Officer Safe Harbour Statement The material in this presentation contains forward-looking statements such as projections, forecasts, and estimates. Such forward-looking statements involve certain risks and uncertainties that could cause actual results, performance, or events to differ materially from those anticipated in this presentation. The forward-looking statements contained in this presentation are based on the current views and assumptions of lastminute.com N.V. lastminute.com N.V. does not assume any obligation to update or supplement this presentation. lastminute.com N.V. doesn't make any representation or warranty (express or implied) whatsoever as to the accuracy, completeness or sufficiency of any information contained herein. 3 This presentation does not constitute an advertisement, offer, recommendation or invitation to purchase securities in any jurisdiction. It is for information purposes only and does not constitute a prospectus within the meaning of Art. 35 et seq. of the Federal Act on Financial Services (FinSA) or similar legislation in other jurisdictions. lastminute.com N.V has not taken any actions to allow the distribution of this presentation in any jurisdiction where action would be required for such purposes. Agenda 01 Q4 & FY 2025 preliminary unaudited results Alessandro Petazzi & Diego Fiorentini 02 Strategic direction Alessandro Petazzi 03 Outlook Alessandro Petazzi 04 Financial Calendar 2026 Julia Weinhart Q4 2025 and preliminary unaudited FY 2025 performance Q4 Adj. EBITDA -CAPEX €1.7m vs. (€0.8m) Q4 2024 Q4 Adj. EBITDA €8.8m +62% vs. Q4 2024 FY Adj. EBITDA €54.9m +33% vs. FY 2024 GROSS PROFIT +17% vs. Q4 2024 Packages +14% Flights +31% +10% vs. FY 2024 Packages +8% Flights +24% REVENUES * +23% vs. Q4 2024 Packages +16% Flights +48% +15% vs. FY 2024 Packages +11% Flights +31% GTV +43% vs. Q4 2024 Packages +12% Flights +99% +19% vs. FY 2024 Packages +3% Flights +53% FY Adj. EBITDA -CAPEX €32.4m vs. €16.2m FY 2024 5 5 (*) REVENUES, defined as the ordinary margins generated through the sale of travel services (together with ancillaries, over commissions, kickback and other indirect revenue), including the negative effects coming from the cancellation of bookings and the other income from the voucher misredemption. They are also defined as managerial revenues. Double digit growth both for the quarter and full year Q4 Revenues FY 6 +23% +15% €m 2025 vs 2024 2025 vs 2024 (27%) (17%) +22% +21% +48% +31% +16% +11% Q4 acceleration boosted FY gross profit growth to double digits Q4 Gross Profit FY +17% +10% €m 2025 vs 2024 2025 vs 2024 +15% (14%) 0% +15% +31% +24% +14% +8% Gross Margin 41.8% 39.8% 41.7% 7 40.1% Cost Structure - Strategic Investment for Growth % on Revenues €m Q4 25 Q4 24 Delta % FY 25 FY 24 Delta % (68.2) (57.1) 19% (306.1) (272.5) 12% (46.4) (36.4) 27% (216.4) (182.8) 18% (32.2) (23.8) 36% (154.9) (124.5) 24% (14.2) (12.6) 12% (61.5) (58.3) 5% (21.8) (20.7) 6% (89.7) (89.7) (0%) (15.5) (13.4) 16% (62.7) (59.1) 6% (21.3) (18.7) 14% (81.8) (78.7) 4% 5.8 5.3 10% 19.1 19.6 (3%) (6.3) (7.3) (13%) (27.0) (30.6) (12%) Q4 25 Q4 24 Delta pp FY 25 FY 24 Delta pp 89% 91% (2)pp 85% 87% (2)pp 60% 58% 2pp 60% 58% 2pp 42% 38% 4pp 43% 40% 3pp 18% 20% (2)pp 17% 19% (2)pp 28% 33% (5)pp 25% 29% (4)pp 20% 21% (1)pp 17% 19% (2)pp 28% 30% (2)pp 23% 25% (2)pp (8%) (8%) - (5%) (6%) 1pp 8% 12% (4)pp 7% 10% (3)pp Scaling growth supported by Marketing investments while maintaining Fixed-Cost discipline Total Costs Variable Costs Marketing and Sales costs Other variable costs Fixed Costs HR Costs HR Costs Gross Capex HR Capex 32% Operating Costs 36% Q4 2025 Q4 2024 8 Fixed Costs Profit and Loss €m Q4 Q4 Delta FY FY Delta 2025 2024 % 2025 2024 % GTV 767 538 43% 3,463 2,903 19% Revenues 77.0 62.5 23% 361.1 313.7 15% Variable Costs (46.4) (36.4) 27% (216.4) (182.8) 18% Gross Profit 30.6 26.1 17% 144.6 130.9 10% % on Revenues 39.8% 41.8% (2.0)pp 40.1% 41.7% (1.6)pp Fixed Costs (21.8) (20.7) 6% (89.7) (89.7) (0%) Adjusted EBITDA 8.8 5.4 62% 54.9 41.2 33% % on Revenues 11.4% 8.7% 2.7pp 15.2% 13.1% 2.1pp EBITDA 8.7 5.8 50% 46.4 43.3 7% EBIT 1.8 0.9 113% 19.1 25.2 (24%) Net Result 1.9 (0.1) n.a. 11.6 15.7 (26%) Earnings /(loss) per share 0.18 (0.01) n.a. 1.09 1.47 (26%) Adjusted EBITDA - Capex 1.7 (0.8) n.a. 32.4 16.2 101% Revenues accelerated to €77.0m in Q4 (+23% vs 2024), with FY25 revenues reaching €361.1m (+15% vs. 2024), driven by strong marketing execution and sustained travel demand. Adjusted EBITDA increased to €8.8m in Q4 (+62% YoY), with margin expansion reflecting scalable operations and disciplined cost control despite a slight increase in fixed costs. For FY25, Adjusted EBITDA reached €54.9m (+33% YoY). EBITDA grew significantly from €5.8m in Q4 2024 to €8.7m in Q4 2025, a 50% increase driven by improved operating leverage and performance. For FY25, EBITDA reached €46.4m vs. €43.3m in FY24. EBIT for the quarter rose to €1.8m from €0.9m, more than doubling (+113%) compared to previous period. At the same time, the FY25 EBIT fell to €19.1m from €25.2m, mainly due to impairment loss accounted for in Q3. Net Result reached €1.9m in Q4, while it stood at negative €0.1m in the same quarter of last year. For the FY25 Net Result reached €11.6m, down 26% vs. €15.7m in the same period last year. EPS of the quarter stood at €0.18, compared to negative €0.01 in Q4 2024, while reaching €1.09 in FY25 vs. €1.47 during the same period last year. Adjusted EBITDA less Capex in Q4 reached €1.7m, reversing last year's negative result of €0.8m. This demonstrates our ability to generate cash even during off-peak periods. 9 Net Financial Position (NFP) Bridge 12 months rolling Strong Free Cash Flow before Net Working Capital reached €12.1m, while Free Cash Flow increased from a negative to Free Cash Flow: +€27.0m Free Cash Flow (pre NWC): +€12.1m €27.0m, corresponding to a 58% EBITDA conversion rate. Change in Net Working Capital significantly improved compared to last year. Capex is mainly linked to capitalised HR costs and other tech assets. Equity movements include dividend payment & Share buy back Net Financial Position impacted by lease renewals (accounting effect only). (7.8) 19.0 10 Free Cash Flow: €(4.7)m 27.8 41.2 2.1 (25.0) (4.8) (7.8) (1.6) (8.8) 3.7 NFP Dec 2023 Free Cash Flow (pre NWC): +€4.1m NFP Dec 2024 (*) Capex includ ing: (i) €(22.5)m Capex and (ii)€2.1m proceeds from sales of assets Key Takeaways Solid Q4 growth enabled us to keep the momentum and close FY 2025 above guidance, sustained by strong cash generation . Strong Revenues performance across all core product segments in Q4 reflects the positive trend sustained throughout FY 2025 . We surpassed our targets We delivered on our commitments, outperformed our raised guidance . Revenues: low double-digit growth 11 Adj. EBITDA: around 20% growth Agenda 01 Q4 & FY 2025 preliminary unaudited results Alessandro Petazzi & Diego Fiorentini 02 Strategic direction Alessandro Petazzi 03 Outlook Alessandro Petazzi 04 Financial Calendar 2026 Julia Weinhart Strategic direction 2 enablers Embracing AI Scalability Strengthening Market Presence + 4 core drivers Brand Portfolio 13 Focus Dynamic Packages Evolution Travel Companion Drive repeat bookings and long-term value Target: Value Seekers converting price-led travelers into loyal customers Launched Q4 2025 (UK) Travel Companion 14 Launch of our free, multi-tier loyalty program 21% +3pp YoY APP Booking Share App Adoption Customer Loyalty & App Ecosystem 499 g40wth: 1.63m +12% YoY APP Downloads +27% YoY Bookings from Repeat Customers 640k +31% YoY APP Monthly Active Users Engagement & Retention 15 Note: Metrics related to 'the App' refer to the lastminute.com branded App only, and apply to the countries where the App is available. 47 is revolutionising the way we search & get inspired online Will AI make OTAs irrelevant? Flights to NY User Find me the best flight and hotel package for a weekend in New York next month, under €1500. AI Agent I've found three curated options for you… from K€/w04Þs « If users are moving from Google searches to LLM chatbots * …how can customers land on your website? » to C0‡T€4s4tł0‡s 16 *AI chat systems built on Large Language Models (LLMs) Fact-checking: how the search & discovery scenario is actually evolving TRADITIONAL MODEL EVOLVING SCENARIO Traffic to website discovered mostly via free and paid traffic from gOOgLE gOOgLE + Still the main search platform (Gemini + AI Overview) Business model set to remain ad-based Julie Ferago (VP Engineering, Google) to Skift «Google has no intention of becoming an online travel agency.» OTHE4 9L4/E4S New traffic sources emerging 17 OpenAI also adopting ad-based model 18 Why lastminute.com is positioned to thrive Technical 47 4g€‡t-4€4Þ/ infrastructure Strengthening our presence on AI platforms Product Differentiated 940p4ł€t44/ 94Gk4g€s Leveraging exclusive partner contracts Execution /u5/ł55m€‡t 944t‡€4 AI platforms focus on the inspirational phase vs. we deliver the holiday & the customer service Regulatory 4€gu54t04/ responsibility AI cannot assume the legal liability required for Packages 3 ways AI impacts our business 1 INTERNAL PRODUCTIVITY 2 CUSTOMER EXPERIENCE 3 LEADING AI PRESENCE ON PLATFORMS Embedding AI company-wide to boost efficiency Developing internal automation and products to streamline processes Utilising external tools Leveraging AI to enhance the travel experience User-level personalisation helping travellers find exactly what they need 19 Gen AI-powered customer service Being present where conversations happen Enable seamless AI-agent access to our travel offer : our new MCP Server for Flights as an initial step in this direction Agenda 01 Q4 & FY 2025 preliminary unaudited results Alessandro Petazzi & Diego Fiorentini 02 Strategic direction Alessandro Petazzi 03 Outlook Alessandro Petazzi 04 Financial Calendar 2026 Julia Weinhart FY26 outlook FY26 outlook ~10% growth 21 REVENUES Adj. EBITDA Agenda 01 Q4 & FY 2025 preliminary unaudited results Alessandro Petazzi & Diego Fiorentini 02 Strategic direction Alessandro Petazzi 03 Outlook Alessandro Petazzi 04 Financial Calendar 2026 Julia Weinhart Financial Calendar 2026 15 January 2026 Baader Swiss Equities Conference - Bad Ragaz 12 February 2026 Announcement of preliminary unaudited FY 2025 results 2 April 2026 Publication of the Annual Report 2025 6 May 2026 Publication of Q1 2026 Trading Update 13 May 2026 Kepler Cheuvreux Annual Swiss Seminar Zurich 24 June 2026 Annual General Meeting 25 June 2026 Davy Annual Transport Conference 30 July 2026 Publication of H1 2026 Report 21 September 2026 Baader Investment Conference Munich 29 October 2026 23-25 November 2026 Publication of Q3 2026 Trading Update Deutsches Eigenkapitalforum Frankfurt Our coverage: Volker Bosse - Baader Bank Baptiste de Leudeville - Kepler Cheuvreux Daniel Buerki- ZKB Investor information: lastminute.com N.V. Listing: SIX Swiss Exchange Trading currency: CHF Ticker symbol: LMN ISIN: NL0010733960 Contact Information: Julia Weinhart Head of Investor Relations [email protected] 23 Q4 & FY 2025 preliminary unaudited results Thank you [email protected] https://www.lastminute.com

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