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Not for release to U.S. wire services or distribution in the United States ASX Announcement 15 December 2021 Corporate Travel Management announces acquisition of Helloworld Corporate and fully underwritten equity raising Highlights Corporate Travel Management Limited ( " CTM " ; ASX : CTD ) has entered into a binding agreement to acquire 100 % of Helloworld Travel Limited's ( " Helloworld " ; ASX : HLO ) corporate and entertainment travel business in Australia and New Zealand ( " Helloworld Corporate " ) ( the " Acquisition " ) ctm Enterprise value of $ 175 million on a cash - free , debt - free basis . This represents attractive enterprise value / FY19 pro - forma EBITDA¹ , ² multiples of : O 8.0x excluding synergies O 5.8x including estimated full run - rate synergies of $ 8 million³ The Acquisition is highly complementary to CTM's existing Australian and New Zealand ( " ANZ " ) corporate travel management operations , and adds industry verticals which are expected to perform strongly as the recovery from COVID - 19 continues Expected to be earnings per share ( " EPS " ) accretive on a pro - forma FY19 basis Approximately 3 % excluding synergies and approximately 7 % including full run - rate synergies4 O The acquisition will be funded by a combination of cash ( $ 100 million ) and CTM shares to be issued to Helloworld ( $ 75 million ) O The cash component will be funded via a fully underwritten $ 100 million placement and share purchase plan Completion of the Acquisition is expected to occur in Q1 2022 and is subject to a number of conditions precedent including regulatory approval ( amongst others ) 1 FY19 financial information is considered to best represent the performance of both CTM and Helloworld Corporate prior to the impacts associated with COVID - 19 2 Pro - forma EBITDA includes normalisations and excludes costs which are one - off in nature . Assumes FY19 average FX of 1 AUD = 1.04 NZD 3 Excludes integration costs . Full run - rate synergies assume recovery to FY19 revenues 4 Based on pro - forma NPAT excluding transaction costs , one - off integration costs and amortisation of acquired identifiable intangible assets . The impact of purchase price accounting has not been completed , which will impact future depreciation and amortisation charges AUSTRALIA | NEW ZEALAND NORTH AMERICA | ASIA | EUROPE Corporate Travel Management Limited ABN : 17 131 207 611 Level 24/307 Queen Street , Brisbane , Queensland 4000 GPO Box 2584 , Brisbane , Queensland 4001 Telephone : +61 7 3329 7400 Free call : 1800 663 622 www.travelctm.com NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES 1