Slides
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FLIGHT CENTRE TRAVEL GROUP Full-year Results PresentationAugust 26, 2026 FY26
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FLIGHT CENTRE TRAVEL GROUP Agenda 2FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS FY26 Overview & Strategic Initiatives01Financial Performance02Corporate03Leisure04FY27 Outlook05Supplementary Information06
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FY26 Overview & Strategic Initiatives01Adam CampbellCFO 3 FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS
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FLIGHT CENTRE TRAVEL GROUP FY26 Financial Highlights x 4FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 01 FY26 Overview & Strategic InitiativesSalesEarningsShareholder returnsUPBT down 4% to$278m NPAT (statutory)up 38% to$149m PBT (statutory)up 0.2% to$213m Revenue up 3% to $2.9bTTV up 5% to $25.7bEPS up 43% to 71 cents per share Final dividend up 3% to 30 cents per shareSolid leisure recovery – record TTV for JulyScaled, diversified, AI-accelerated growth engines across Leisure and Corporate Clear plans to execute on stabilisation and growth initiatives as trading cycle recovers Record TTV – YOY growth in both leisure and corporateGrowth across most profit metrics - EBITDA and NPAT at highest levels since pre-COVID - but UPBT down slightly after tracking well ahead of prior year to end of Q3Leisure significantly impacted by Middle East hostilities (circa $60m) but now showing signs of recoveryCorporate also impacted to a lesser degree, and impact offset by recovery in the Asia business – profit rapidly outpacing TTV growthSolid underlying performance maskedby Q4 disruptionDisciplined capital management program in place & helping to drive EPS growthPortfolio optimisation initiatives - divestitures, acquisitions, new initiatives Executing key strategies and infusing AI at all levelsFocus on shareholder value creationPositive start to FY27 Note: TTV, EBITDA, Underlying EBITDA, Underlying profit before tax (UPBT) and Underlying net profit after tax (NPAT) represent non-IFRS measures and are not subject to audit procedure.
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FLIGHT CENTRE TRAVEL GROUP FLT’s Business Model 5FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTSNavigates complexity beyond simple self-service bookings, where expertise adds real value.We reach customers that our suppliers struggle to access.Navigates complexity beyond simple self-service bookings, where expertise adds real value.We reach customers that our suppliers struggle to access.Multiple brands span leisure, corporate and specialist travel, reaching distinct customer segments.Our brand and geographic diversity provides a natural hedge.Multiple brands span leisure, corporate and specialist travel, reaching distinct customer segments.Our brand and geographic diversity provides a natural hedge.A shared global business services platform supports growth without adding proportional cost.A shared global business services platform supports growth without adding proportional cost.Complex Travel IntermediaryComplementary BrandsScalable Central ServicesWe combine the economies of scale of a global enterprise with the customer intimacy of focused, expert brands. That combination is genuinely rare, with most businesses having one or the other. It's a combination that is difficult - if not impossible - for our competitors to replicate 01 FY26 Overview & Strategic Initiatives
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FLIGHT CENTRE TRAVEL GROUP If we successfully look after our customers, our people and our suppliers, our company and our shareholders will be the beneficiaries Our Purpose: To open up the world for those who want to see 6FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTSFor Our CustomersFor Our PeopleFor Our SuppliersExpert-led, end-to-end travel that turns complexity into confidence – proof we deliver on our promise.A career that crosses brands, borders and disciplines – a place to build a life, not just a job.Access to the industry's highest-margin customers, global buying power, and a trusted long-term partner.COREVALUESEgalitarianismNo us and them – every voice matters, from consultant to CEO.IrreverenceChallenge convention. Take the business seriously, not yourself.OwnershipAct like it's your business – fix problems,don't just flag them. 01 FY26 Overview & Strategic Initiatives
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FLIGHT CENTRE TRAVEL GROUP Future Fit: Building a defensible moat across the value chain 7FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS Supplier relationshipsHuman expertise – ability to navigate through complexity Customer loyalty and proprietary dataBrand equity and trustDifferentiated, proprietary travel and technology platforms & product ranges 01 FY26 Overview & Strategic Initiatives
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FLIGHT CENTRE TRAVEL GROUP Overview of FY26 Strategic Initiatives 8FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 01 FY26 Overview & Strategic InitiativesCORPORATELEISUREGROUP Productive operations World360 Rewards TP Connects (airfare aggregation)•Leisure loyalty program now in place and already boasting circa 600,000 members & a growing partner network•$25m per-year investment to secure wider range of airfares for customers and consultants – aggregating GDS, LCC and NDC content•NDC adoption now approaching 20% globally and above 50% with some carriers•Helping drive material productivity uplifts globally, economies of scale Corporate Traveller rapid growth plans Becoming a global cruise sector leader AI and digital transformation•Cruise TTV set to top $2b during FY27 ($1.8b annualisedduring FY26)•Geographic and tech foundations enhanced through Iglu acquisition•Strong forward bookings on 12-month Explorations by Norwegian charter - 1st 6 months now 95% sold (revenue to flow from Sept 2026) (Supplementary Information slide 43)•Adopting AI to support global strategies:•Enhancing CX•Productivity & efficiency•Revenue growth opportunities•Tailored leisure & corporate initiatives in place (outlined in divisional updates), operating alongside group-wide programs•Expansion blueprints developed and now being deployed for key Northern Hemisphere locations Corporate product suite Luxury sector growth•Strong return on Scott Dunn acquisition during period of expansion (now operating in UK, USA, Singapore, HK)•Investment in proprietary technology underpinning FLT's booking tools – FCM Platform and Melon
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Financial Performance 02Adam CampbellCFO 9 FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS
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FLIGHT CENTRE TRAVEL GROUP Middle East war had a significant impact on the business, its people and its customers•Strong profit trajectory to end of Q3 Near/above top of $310m–$345m target range (ex Pedal Group)Positive profit and cost margin trends•Significant Q4 disruptionSales slowdown group-wide & ~$60m Middle East-related hit to Leisure profit in Q4Corporate less affected and delivered strong profit growth Touring and In-Destination businesses also impactedDo Not Travel advisory (highest level of warning) remained in place for key Middle East transit hubs until June 17 in Australia – slowing recovery in FLT's largest leisure market•People at the heart of FLT's response –human-plus-technology strategy standing up during periods of uncertainty, NPS at record highs in several brands during Q4, including Flight Centre Solid underlying performance masked by Q4 disruption 10FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS Momentum accelerating through Q3 - record Corporate and Leisure TTV in March ahead of Middle East impacts on Q4 Group uPBTquarter ($m)02 Financial Performance
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FLIGHT CENTRE TRAVEL GROUP Group Performance Summary 11FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 02 Financial PerformanceYear ended 30 JuneChangeFY25FY26AU $m4.7%$24,528$25,676TTV(30bps)11.4%11.1%Revenue margin8%$399$431EBITDA3.9%$448$466EBITDA (underlying)0.2%$213$213PBT(4.0%)$289$278PBT (underlying)38%$108$149NPAT49.6c70.9cEPS49.0c69.5cDEPS8.8%13.6%ROE11.0c12.0cInterim Dividend29.0c30.0cFinal Dividend$103$95Capex12,41112,365Staff FTE$139$278Cash Operating Cash Inflows$622$570Cash at bank and on hand$193$255Restricted cash$816$825Cash and cash equivalents$11$17Financial Asset Investments$826$842Cash and investments •Solid TTV growth but overall result impacted by heightened Middle East tensions during Q4, adverse FX movements (impacting translation of overseas results)•Growth in EBITDA (statutory and underlying), NPAT (statutory and underlying) and statutory PBT•Higher underlying EBITDA growth not flowing through to UPBT growth due to higher intangible software amortisation; new lease costs in leisure and increased net interest expense •YOY UPBT comparisons also unfavourably impacted by:•$5m FX on translation (primarily US Corporate)•Exclusion of Pedal Group's profit from FY26 results•Strong NPAT growth compared to prior year (deferred tax assets written off during FY25)•Significant improvement in operating cash flows largely reflects timing of BSP payments (airline payments cycle) at the end of financial year•Initial $200m buy-back completed and additional $200m program initiated •16.2m shares bought back under initial program (7.3% of shares on issue when program started)•Contributing to strong EPS growth
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FLIGHT CENTRE TRAVEL GROUP FY26 Results: Divisional financial summaryGLOBAL HQ1LEISURECORPORATEGROUPChangeFY25FY26ChangeFY25FY26ChangeFY25FY26ChangeFY25FY26AU $m(14.7%)4924207.4%11,71712,5822.9%12,31812,6744.7%24,52825,676TTV (1.1%)2512482.6%1,3951,4323.3%1,1381,1752.5%2,7842,855Revenue(33.5%)(76)(101)(21.7%)17713928.0%187240(4.0%)289278Underlying PBT(44.8%)(40)(59)(6.7%)26825024.4%2212753.9%448466Underlying EBITDAMargins(50bps)11.9%11.4%10bps9.2%9.3%(30bps)11.4%11.1%Revenue margin(40bps)1.5%1.1%40bps1.5%1.9%(10bps)1.2%1.1%Underlying PBT margin 1Formerly OtherSee sections 3 and 4 for more detailed commentary on corporate and leisure results. Global HQ commentary is included in Supplementary Information slide 39.12FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS
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FLIGHT CENTRE TRAVEL GROUP Disciplined capital management to create shareholder value 13FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 02 Financial Performance Subject to market conditions, FLT expects to continue buying back its own shares at current price levels -reflecting management's view that the stock represents the best available use of surplus capital right nowOpportunistic on-market buy-backs contributing to 43% EPS growthConvertible Notes restructured and extended Increased dividend payments•$200m program fully executed April 2026 with 16.2m shares bought back (7.3% of shares on issue at start of the buy-back)•New, up to $200m issued capital buy-back announced in June 2026 and initiated in July. Almost 1.4m shares bought back for $16.5m to date•$450m longer dated Convertible Note issued in September 2025•Proceeds enabled the full retirement of the 2028 notes and a reduction in the 2027 notes’ face value to circa $200m•Proceeds also used to part-fund Iglu (cruise) acquisition•47% or $87m of underlying NPAT returned to shareholders via fully franked dividends•42c per share - 12c per share interim dividend (paid in April) plus 30c per share final dividend (declared today)•5% increase on the PCP (40c per share returned via combined FY25 interim and final dividends)
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FLIGHT CENTRE TRAVEL GROUP Proactive Portfolio Management 14FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 02 Financial Performance FLT continues to reshape its portfolio to capitalise on new opportunities, grow its addressable markets and create compelling offerings for customersDivestituresStrategic acquisitionsOrganic expansion/new initiatives•About $80m in cash generated from sale of non-core assets:•Minority interest in Pedal Group cycle JV•Cross Hotels & Resorts•Targeting attractive, growth sectors:•Iglu (cruise) - contributed $497m in TTV, $6.7m UPBT post-acquisition despite Middle East impacts•Fresh (UK meetings & events)•Blockskye investment - payments & expense, US enterprise corporate accounts•World360 Rewards•MyTouring (launched August 2026)•Luxury - TA Reserved, Scott Dunn (Hong Kong)•Travel Money wholesale - TTV almost doubled during FY26•New leisure digital commerce division to grow online sales•Expanding corporate addressable market
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Corporate 03Chris GalantyCEO - Corporate 15FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS
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FLIGHT CENTRE TRAVEL GROUP Corporate Results Snapshot 16FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 03 CorporateCORPORATEChangeFY25FY26AU $m2.9%12,31812,674TTV3.3%1,1381,175Revenue28.0%187240Underlying PBT24.4%221275Underlying EBITDAMargins10bps9.2%9.3%Revenue margin40bps1.5%1.9%Underlying PBT margin3% TTV growth to record $12.7b28% UPBT growth to $240m•Delivering economies of scale – profit growth significantly outpacing sales growth•UPBT growth being driven by productivity•AI-assisted consultants,•Investing in self service capabilities for customers•Automated back-end functions, reducing manual handling•New TTV milestone established despite significant headwinds including:•FX shifts –TTV increased 5% YOY in constant currency (circa 70% of TTV now generated outside Australia)•Middle East conflict – FCM UAE TTV down almost 15%, Asia, Europe businesses also impacted•Heavy 2H weighting in FCM FY26 account wins (45% of $1.6b new account pipeline won during Q4 & set to start trading during FY27) •Strong performance in key US market with corporate TTV exceeding $US2b for first time (Up 10% in USD)•Corporate Traveller achieved its global target of exceeding $5b in TTV
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FLIGHT CENTRE TRAVEL GROUP Productive Operations Initiative: Delivering structural transformationFoundations in place for future growth 17FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS Delivering tangible and sustainable benefits Productivity & margin impactCustomer experience gainsPlatform & operating modelSustainability of gains•20% division-wide productivity uplift since end of FY23 (Productive Operations initiated Nov 2023)•Measured as TTV per average FTE•Stronger growth per sales consultant – up circa 30% - over same period•Material customer experience improvements – SLA up 9 points, NPS up 17 points during course of Productive Operations initiative•Single operating model replacing legacy systems – driving productivity and enhanced CX•Fully integrated proprietary platforms – customer and consultant-facing tools•Purpose built platform scales with the business at lower incremental cost•Self-service and workflow automation reducing manual processing cost•Structural transformation – not "one-off" – further productivity gains embedded in the operating model•Costs now part of BAU from July 1, 2026 03 Corporate - 0.5 1.0 1.5 2.0 2.5 3.0FY23 FY24 FY25 FY26TTV per FTE ($m)TTV per FTE ($m) 20% productivity uplift division-wide –TTV per sales consultant up more than 30%
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FLIGHT CENTRE TRAVEL GROUP Corporate Traveller: The growth story behind FLT's corporate successA unique offering with a proven track record, significant growth runway and highly productive model -currently generating TTV of $5b+ per year 18FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS•The only global TMC entirely built around and dedicated to the SME customer•Pairing the latest proprietary digital experiences with dedicated consultants for every customers – average consultant tenure of 10+ years•Widest access to content and savings•Payment & expense solutions- MelonPay, CTPay•Meetings & events •The only global TMC entirely built around and dedicated to the SME customer•Pairing the latest proprietary digital experiences with dedicated consultants for every customers – average consultant tenure of 10+ years•Widest access to content and savings•Payment & expense solutions- MelonPay, CTPay•Meetings & events •Delivered ~8% TTV growth in FY26 despite adverse FX headwinds •13% growth globally in constant currency•Multi-billion-dollar Northern Hemisphere growth runway – gaining scale in large US, UK and Canada markets •Accelerating into new verticals: M&E, Energy & Marine, Stage & Screen, VIP , Mining•Delivered ~8% TTV growth in FY26 despite adverse FX headwinds •13% growth globally in constant currency•Multi-billion-dollar Northern Hemisphere growth runway – gaining scale in large US, UK and Canada markets •Accelerating into new verticals: M&E, Energy & Marine, Stage & Screen, VIP , Mining•TTV more than 50% higher than FY19 with circa 35% fewer consultants & higher NPS•Transactions, revenue per consultant have more than doubled •Strong utilisation of Melon booking platform in Northern Hemisphere -monthly OBT transactions during FY26 above 50% higher than FY25•Melon expansion: Set for RSA launch during FY27•TTV more than 50% higher than FY19 with circa 35% fewer consultants & higher NPS•Transactions, revenue per consultant have more than doubled •Strong utilisation of Melon booking platform in Northern Hemisphere -monthly OBT transactions during FY26 above 50% higher than FY25•Melon expansion: Set for RSA launch during FY27Customer Value PropositionOngoing Organic GrowthHighly Productive Model03 Corporate
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FLIGHT CENTRE TRAVEL GROUP Unlocking customer revenue through a seamless digital experience 19FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS Consolidating three fragmented areas into one modern, seamless digital experience for customers11% of FLT's FY26 corporate revenue was derived from services that sit outside traditional travel management (up from 9% during FY25)Better PersonalisationHigher Retention & ValueStronger Commercial ReturnsGreater usage means deeper data, which drives a better overall customer experienceDeeper integration makes us harder to replace and easier to expand – while taking more off the customer's plate (end-to-end solutions)Greater usage delivers a bigger solution set at a smaller cost and footprint for customers – further increasing profit per transaction from one digital ecosystemMeetings & EventsProfessional ServicesTravel Management010203 03 Corporate
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FLIGHT CENTRE TRAVEL GROUP People & Platforms: Unlocking the next phase of growth 20FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS Proprietary digital experienceAI-Digital-PeopleBuild once, use at scaleMelon and FCM Booking (FCMB) as our leading platformsIntegrating AI via Sam (FCM) and Mel (Corporate Traveller), supporting our platforms and peoplePilot in Corporate Traveller & extend across FCMOne cost base, not two - sweating the asset, economies of scale 03 Corporate
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Leisure 04James KavanaghCEO - Leisure 21FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS
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FLIGHT CENTRE TRAVEL GROUP Leisure Results Snapshot 22FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 04 LeisureLEISUREChangeFY25FY26AU $m7.4%11,71712,582TTV2.6%1,3951,432Revenue(21.7%)177139Underlying PBT(6.7%)268250Underlying EBITDAMargins(50 bps)11.9%11.4%Revenue margin(40 bps)1.5%1.1%Underlying PBT margin7.4% TTV growth to $12.6b-21.7% UPBT to $139m – cyclical, not structural•Tracking to $200m+ UPBT at end of Q3, before ~$60m Q4 impact from Middle East disruption•More than $250m in airfares alone refunded to customers as Middle East tensions escalated•Strong underlying momentum ahead of and post disruption - record monthly profit in January 2026 and July 2026 profit the highest for the month since 2015•Solid contributions from Scott Dunn (luxury) and specialist businesses (Travel Money, Ignite, Jetmax)•Investment in AI – accelerator program, features being infused throughout customer journey (see Supplementary Information slide 42 )•Revenue margin impacted by: Ongoing business mix shifts (rapid growth in lower margin businesses)Temporary swing to closer-to-home, lower-margin destinations late in the year; andReduced supplier incentives as key carriers were grounded at a critical time•Solid YOY growth – on track to deliver record result after Q3 (above FY19 milestone of $13.1b)•Cruise TTV growing rapidly & set to top $2b during FY27 (circa $1.8b on an annualised basis during FY26)•Online sales exceeded $1.8bn (+17%); with flightcentre.com on track to reach $1bn TTV in FY27•Strong growth from Travel Money – wholesale division contributed circa $650 TTV in 3rd full fiscal yearHealthy TTV growth, with UPBT reduced by Q4 geopolitical disruption - not a change in the underlying business.
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FLIGHT CENTRE TRAVEL GROUP Q4 Disruption: Trading ahead of prior year after Q3, then a geopolitical shock 23FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS $177M$200M+~$139M~$60MFY25 (PY)FY26 ex-disruptionFY26 actual (reported)COST OF DISRUPTION 04 Leisure 050100150200Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May JunFY26 trading, ex-disruptionFY26 actual (reported)FY25 (PY) Cumulative Underlying PBT ($m)
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FLIGHT CENTRE TRAVEL GROUP CORE ENGINEGrow the CoreMARGIN + VOLUME ENGINESBet on WinnersNEW ENGINE OF GROWTHEmbed & Lift Loyalty01 02 03Three Big MovesOne consistent framework driving disciplined value creation across the portfolio 24FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS Strengthen and modernise the Flight Centre engine - retail, digital, app and call centre04 Leisure •More customers · reach at scale•More of the trip · share of wallet•More productive experts · productivity per FTE Back high-growth segments with future upside - Luxury, Cruise, Tours, Packages, Independents, Foreign Exchange, Digital •High-margin bets · Luxury, Cruise•Volume engines · Independents, Digital•Cash-flow bet · Foreign Exchange World360 Rewards is live - now embedding across brands as a compounding engine of growth •Program at scale · ~600k members•~65% of sign-ups new or re-engaging•Ecosystem monetisation · non-travel partnersACCELERATED BY AICo-Consult and enterprise-wide AI deployment lift productivity and margin across all three moves.DELIVERED THROUGH THE 5 PsPeople | Product | Platforms | Property | Partnerships
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FLIGHT CENTRE TRAVEL GROUP Grow The Core 25FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS Win morecustomersWin moreof the tripMoreproductive expertsGrow the Core = customer growth × share of wallet × productivity per expert 01 02 03Flight Centre at scale Fly → Stay → Cruise → Tour Omni + Rewards + AI#1Retail travel brand in AustraliaInternational TTV - complex tripsSeamless online store 3,000Experts across 5 marketsWins the customer; bundle grows value Win, retain, grow418Wholly-owned stores · 55m annual online website visitsSME segment values person-to-personCo-Consult lifts expert productivity78%AirFCBTOmniWorld360 RewardsAIMARKET-SHARE WHITESPACE Even in our strongest markets, most of the addressable market is still whitespace. 04 LeisureFlight Centre Brand0% 100% of addressable marketAustralia / NZ10.4%South Africa2.3%United Kingdom0.3%Canada0.3%Our current shareWhitespace opportunityStore NPS +4: 63 record
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FLIGHT CENTRE TRAVEL GROUP Bet on WinnersFive disciplined bets: Margin engines and volume engines working together, each defensible and enduring 26FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS LuxuryCruise, Tours, PackagesForeign ExchangeIndependent AgentsDigital CommerceMass Affluent to Ultra-high-net-worth customers via Scott Dunn and Travel Associates, targeting ~2x market rate.Cruise Leadership#1 AU/NZ · #1 OTA UK (Iglu). Iglu · Cruiseabout · MyCruises · CruiseClub UK.Deal-holiday challengerMyHolidays · MyTouring - FCTG-backed challenger in the fast-growing deal-holiday segment.Travel Money wholesale, click & collect / delivery -complements the fast-growing retail network.Envoyage, Luxury Travel Collection, Link Travel Group growing rapidly. AU/NZ/ZA established; US and CA emerging.Nine dot-coms under one discipline leader. High volume, lower value, capital-light. Scaling toward $2bn TTV.>$1B TTVPROOF IT'S WORKING+20%Scott Dunn PBT~25%Target growth+31%TTV growth+36%Independents PBT · AU/NZ/ZA 04 Leisure +17%Online TTV~$1.8B Cruise TTV~$1.6B TTV>$2.2B TTV~$1.8B TTVMargin engineVolume engine
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FLIGHT CENTRE TRAVEL GROUP THE PROGRAM A points-based programTHE EDGEWhat sets it apartTHE RETURN What it gives FCTG01 02 03Embed & Lift Loyalty: World360 RewardsBuilt to earn, redeem and grow across every customer journey, by unlocking FCTG ecosystem value 27FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS New engine of sustainable growthExpands and diversifies revenue pools; improving long-term returns Access to new customersThrough strategic non-travel partnerships New revenue for travel partnersGrows partner sales; moves content Rich customer dataStandardised and actionable across brands Drives retentionIncreased customer engagement and reduced attritionAirlines, hotels, cruises, toursNo blackout dates, no fare restrictions, all classesEarn with FCTG, airline and card in one booking2,500+ travel experts ensure no point wastedEarn and redeem across all travelFly any airline, earn every timeDouble andtriple dipExpert guided redemption1234 FCTG brands Travel partners Everyday partners Financial partners 04 Leisure PROGRAMPoints, 2-tier (free + paid)LAUNCH BRANDSFlight Centre Brand | Travel Associates | Cruiseabout | Coming soon: Corporate TravelREACH500 airlines | 900k hotels & tours|41 cruise linesPARTNERSANZ | Westpac | St. George | Bank of Melbourne | Bank of SA | Caltex | Bupa | HelloFresh | LendUs +350 retailersFreeOpen access. Earn from day one.PaidAnnual subscription member exclusives.Earn RedeemAny FCTG travel product for points or points+pay.Rewards Store for points-only redemption Travel Rewards StoreSuperior redemption value across every category#1 differentiator Cross-division reachCorporate Travel joining - one loyalty engine across the group
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FY27 Outlook05Graham TurnerGlobal Managing Director and CEO28 FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS
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FLIGHT CENTRE TRAVEL GROUP FY27 Trading Update05 FY27 OutlookLEISURE MOMENTUM BUILDS INTO FY27•Return to healthy TTV and profit growth – positive FY26 Q3 trends re-emerging•Record July TTV surpasses 2019 peak•Strongest July profit since 2015•Flight Centre, Link Travel Group, Ignite, Luxury Travel Collection, Scott Dunn and Cruiseabout among the key growth drivers early in FY27EARLY SIGNS OF US AND UK BOOKINGS REBOUND•US sales (ex-Australia) return to YOY growth for two straight months (Jun–Jul) - first time since FY25•UK airfare sales back above prior year in July 2026 – positive lead indicator ahead of upcoming earlybird airfare sales and return of Travel Expo program in Australia (Sydney, October 17 and 18)•AU–UK airfare pressure stabilising -premium Middle Eastern carrier fares ~$2,500–$2600 for Aug–Sep departures (late-July pricing)CORPORATE RESULTS TO SKEW TO 2H•TTV trends consistent with Q4; comps affected by AUD strength, ongoing Middle East impacts on businesses in or linked to the region •Results to skew to 2H, with profit likely to be below prior year at the halfoFront-loaded investment in Corporate Traveller expansion oProductive Operations costs now included in trading resultsoCurrent FX headwindsoTiming of FY26 FCM account wins – large accounts set to onboard later in 1H•Targeting large RFP pipeline to drive further TTV growth ln 2H and into FY28•Resilient customer base - ~80% of customers (rising to 83% in Corporate Traveller) expect to increase or maintain travel budgets (FLT State of the Market Survey, Jul–Aug 2026) FY27 FINANCIAL FRAMEWORK•Statutory-to-underlying profit gap narrowing as Productive Operations and World360 Rewards move to business-as-usual•Global HQ likely to be impacted again by increased net interest; offset by ongoing cost control and a return to normal profitability levels for operating businesses within that segment, particularly in the peak Q4 trading period•FY27 guidance to be provided at AGM (November 2026), consistent with normal practice29FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS
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FLIGHT CENTRE TRAVEL GROUP Navigating Middle East Disruption: 5 priorities Cost discipline –building on FY26 momentum; halting discretionary spend, support role freeze, prioritisation of investment/capex1Increasing market-share –heavy promotion of short to mid-haul international travel and domestic itineraries, reinforcing value propositions during turbulent period. Renewed focus on UK/Europe as conditions stabilise on key transit routes2Leveraging supplier relationships –securing preferential content, pricing tiers and capacity commitments, translating directly into stronger unit economics3Maintaining balance sheet strength –well placed to capitalise on opportunities during recovery phase4Preparing for a rebound in demand as conditions stabilise–in line with traditional trends and underlining the outbound travel sector's resilience (see Supplementary Information slides 44 and 45)5Ongoing monitoringContinuing to monitor Middle East volatility and any flow-on macro-economic impacts on leisure and corporate travel 05 FY27 Outlook 30FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS
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FLIGHT CENTRE TRAVEL GROUP TTV growth drivers convert into disciplined profit growthTTV GROWTH DRIVERSOngoing Market Growth3.1% CAGR in global passenger traffic expected between 2024 and 2050 (IATA)PROFIT GROWTH DRIVERSNetwork/Business OptimisationStrengthen, discipline, turnaround focusRapid Expansion in Key SectorsLeisure – Cruise, tours, FX, luxury Corporate – M&E, Stage & Screen, UK & USA SME Non-intermediary (owned product) businessesExpanding Addressable MarketsNew sectors: payments, oil & gas, SaaS, loyalty, wholesale FXCost DisciplineCost margin approachingrecord low levels in FY26 and with growth slowing YOY during H2, driven predominantly by cost initiatives in GBS and SupplyEfficiency & ProductivityScale benefits flowing from Productive Operations in corporate & BAU initiatives in both sectorsAI UpliftEvery role, every day Supercharged consultants 05 FY27 Outlook 31FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS
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Q&A FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 32
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Contact detailsHaydn LongInvestor & Media Relations haydn_long@flightcentre.com+61 418 750 454 33FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 33
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Supplementary Information 06 FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 34
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FLIGHT CENTRE TRAVEL GROUP Profit BridgeFY25FY26Underlying profit adjustments$'000$'000212,621213,123Statutory Profit Before Tax (PBT)13,65527,675Accounting for Convertible Notes (CNs)21,073(45,889)Accounting for business acquisitions and divestments 46,83881,345Operating model transformation costs(5,122)1,390Other289,065277,644Underlying PBT•The quantum of underlying profit adjustments is expected to decrease significantly during FY27 as a number of the transformation activities are complete or moving into BAU•Accounting for CNs includes accounting for buy-backs of $90k (PY$11.5m) and amortisation of CNs of $27.8m (PY $25.1m)•Accounting for business acquisitions and divestments includes:oGain on Hotels sale net of trading results $15.2m (PY nil)oGain on Pedal sale and pre-sale share of profits $18.9m (PY nil)oReversal of contingent consideration $15.8m (PY nil); andoAcquisition costs relating to the Iglu acquisition of $4m (PY nil)•Operating model transformation costs relate to divisional initiatives of $47.4m (PY $31.5m) and Leisure Loyalty $33.9m (PY $15.3m).•FLT’s FY25 underlying PBT included a $3.3m contribution from the Pedal Group JV, which the company sold in June 2026. FY25 underlying PBT has not been adjusted to reflect this changeFLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 35 06 Supplementary Information
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FLIGHT CENTRE TRAVEL GROUP P&L MvmtFY25FY26$'m1,14924,52825,676Group TTV712,7842,855Operating revenue712,7842,855Total revenue365389Other income—33Share of JV/Associates(54)(1,410)(1,464)Employee benefits(31)(192)(223)Marketing expense4(165)(161)Tour, hotel & cruise operations(12)(149)(161)Depreciation & amortisation(14)(66)(80)Finance costs(7)7—Impairment8(652)(644)Other expenses1213213PBT(11)289278Underlying PBT32399431EBITDA18448466Underlying EBITDAMargins(30bps)11.4%11.1%Revenue margin(10bps)1.2%1.1%Underlying PBT margin Solid TTV growth but overall result impacted by heightened Middle East tensions during Q4 – TTV growth tracking at +6.9% at end of Q3 – and FX translation9.6% underlying cost margin in FY26 – within reach of record FY23 result of 9.5% -and with cost growth slowing YOY during 2HMarketing expenses included new Iglu marketing costs and front-loaded promotion of 12-month Norwegian Cruiselines charter (revenue to be recognised from September, when first cruise leg departs– see Supplementary Information slide 43)Higher finance costs from new leases (HQ and Stores) and an increase in both Borrowings and Convertible Notes (CN) used to fund the purchase of Iglu –included buyback of $125m 27CNs Sept 2025 and repayment of $100m 28CNs in May 2026Underlying EBITDA growth – up 4% on prior year – but not flowing through to UPBT growth because of higher intangible software amortisation and new lease costs in leisure Underlying PBT was adversely impacted by $5M due to unfavourable FX translation (primarily affecting the USA Corporate segment)FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 36 06 Supplementary Information
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FLIGHT CENTRE TRAVEL GROUP Balance SheetMvmtJune 2025June 2026$'m9816825Cash & cash equivalents–––Financial assets4159101,325Trade & other receivables62296358Contract assets97151247Other current assets5832,1722,755Current assets(1)7170PPE2031,0941,297Intangibles9773781Other non-current assets2111,9372,148Non-current assets7944,1094,903Total assets5181,6442,162Trade payables & other liabilities8195176Contract liabilities81725Borrowings(186)186–Convertible notes7169176Other current liabilities4282,1112,539Current liabilities83182265Lease liabilities(27)7952Contract liabilities184124308Borrowings256293549Convertible notes(5)9690Other non-current liabilities4917741,265Non-current liabilities9182,8853,804Total liabilities(124)1,2241,099Net assets(52)622570Cash61193255Restricted Cash61117Investments16826842Total cash & investments(238)492254Positive net debt •Despite a difficult FY26, the company retains just under $1b in available cash and a strong balance sheet•Movements in Trade Receivables, Intangibles and Trade Payables were primarily due to growth in the Cruise sector, inclusive of the Iglu acquisition•Increase in both Borrowings and CN used to fund the purchase of Iglu and repayment of existing CNs, with available facilities increased and maturity dates extended•Other Current Assets and Non-Current Assets increased on front-loaded cruise sector Inventory investmentsFLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 37 06 Supplementary Information
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FLIGHT CENTRE TRAVEL GROUP Cash FlowMvmtFY25FY26$'mOperating activities144205349Operating activities before interest and tax(10)(10)(20)Net interest paid5(56)(51)Net tax paid139139278Cash inflow from operating activitiesInvesting activities(178)(2)(180)Acquisitions of subsidiaries60–60Proceeds from sale of subsidiaries and JV8(103)(95)Purchases of PPE and intangibles7815Other investing cash flows(103)(97)(200)Cash flow from investing activitiesFinancing activities126(130)(4)Repayment of borrowings37150187Proceeds from borrowings(125)(198)(323)Buyback of convertible notes441–441Net proceeds from issue of convertible notes3(92)(89)Dividend paid to shareholders(86)(57)(143)Payments for share buy-back(8)(97)(104)Other financing cash flows388(423)(34)Cash flow from financing activities424(380)44Increase/(decrease) in cash held(95)51(44)FX impact–808807Total cashMvmtFY25FY26$'m(52)622570Cash61193255Restricted cash(9)(8)(17)Overdraft—808807Total cash •Improvement in cash flows from Operating Activities largely reflects timing of Billing and Settlement Plan (BSP) payments at end of period compared to the PCP•Interest Received down compared to PCP as cash used for investments and capital management•Capital management initiatives (slide 13) reflected in cash outflow from financing activities: •Share buy-backs during the period totalling 16.2m shares or 7.3% of shares on issue at start of the buyback, enhancing earnings per share•New $450m CN raised, CB buyback face value totalling $325m, and funding of Iglu AcquisitionFLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 38 06 Supplementary Information
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FLIGHT CENTRE TRAVEL GROUP Head office costs•Result flat with FY25•Strong cost containment in a highly inflationary environment (particularly SaaS)Net interest expense•Circa $15m YOY movement largely reflects net interest changes –increased interest expense (Convertible Notes) and decreased interest incomeOperating businesses•Circa $10m YOY swing largely attributable to:Pedal Group divestiture (PY profit $3.3m)Impacts of Middle East turmoil on tour operating businessesFX shifts impacting Discova DMC profit translationTP Connects•Ongoing investment in TP Connects to deliver industry-leading content to leisure & corporate customers –aggregates GDS, NDC & low-cost carrier content•Benefits captured in leisure and corporate segments Performance Overview: Global HQPillars - Underlying PBTFY26FY25Head Office Costs(62.6)(62.4)Net interest expense(13.3)1.3Operating Businesses(1.2)9.6TPConnects(23.8)(24.1)Global HQ(100.9)(75.6)06 Supplementary Information FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 39
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FLIGHT CENTRE TRAVEL GROUP Segments: GeographicOTHERASIAEMEAAMERICASANZChangeFY25FY26ChangeFY25FY26ChangeFY25FY26ChangeFY25FY26ChangeFY25FY26AU $m(11.9%)335296(9.2%)1,4441,31111.6%4,3614,8670.5%4,8544,8775.9%13,53314,325TTV 0.9%234237(6.3%)1049710.9%473524(1.1%)5085032.0%1,4651,494Revenue(26.6%)(126)(159)130.4%(22)7(18.3%)917426.9%7089(3.0%)275267Underlying PBT(40.4%)(60)(84)276.6%(9)16(2.9%)908812.1%84942.5%343352Underlying EBITDAMargins20bps7.2%7.4%-10.8%10.8%(20bps)10.5%10.3%(40bps)10.8%10.4%Revenue margin100bps(1.5%)0.5%(60bps)2.1%1.5%40bps1.4%1.8%(10bps)2.0%1.9%Underlying PBT margin 06 Supplementary Information FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 40
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FLIGHT CENTRE TRAVEL GROUP 5-year Result SummaryFY22FY23FY24FY25FY26$'m $10,340$21,939$23,744$24,528$25,676TTV 9.7%10.4%11.4%11.4%11.1%Revenue margin($200)$266$423$399$431EBITDA($183)$302$478$448$466EBITDA (underlying)($378)$70$220$213$213PBT ($361)$139$320$289$278PBT (underlying)($287)$47$139$108$149NPAT(142.4c)23.1c63.7c49.6c70.9cEPS (142.4c)22.5c50.2c49.0c69.5cDEPS(36.9%)4.2%11.6%8.8%13.6%ROE $40$92$96$103$95Capex10,25713,06512,51412,41112,365Staff FTE$866$926$718$622$570Cash at bank and on hand$361$402$420$193$255Restricted cash$1,227$1,328$1,138$816$825Cash and cash equivalents$59$35$18$11$17Financial Asset Investments$1,286$1,363$1,156$826$842Cash and investmentsFLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 41 06 Supplementary Information
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FLIGHT CENTRE TRAVEL GROUP Our AI Vision: Infused throughout the agentic customer journeyHow AI will move with customers from first touch to in-trip support, powered by our Anthropic partnership 42FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS DISCOVER & ENQUIREPLAN & BOOKTRAVEL & SUPPORTIntelligent CampaignsAI Website SearchInstant Enquiry ResponseAI Insight for ConsultantsAgentic Booking BuildIn-App Booking AssistantAI Customer SupportPersonalised marketing reaches the right customer at the right moment.Customer explores product range in natural language.Every enquiry gets an instant, tailored reply. No lead goes cold.AI reads the enquiry and surfaces the insights that matter.AI agents construct the itinerary alongside the consultant.Customers get instant answers on their quotes and bookings.AI resolves support and loyalty questions, any time of day.1234567OUR HUMAN SUPERPOWERExpert consultants — backed by AIWhenever the customer wants a human, a seamless handoff to an expert consultant — one tap away. AI carries the scale; our peoplewin the moments that matter.AI-POWERED EFFICIENCY PERSONALISED EXPERIENCESTRUSTED EVERY STEPHUMAN EXPERTISESEAMLESSJOURNEY 06 Supplementary Information
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Ignite Travel Group has created The World’s Longest Cruise with a world-first global charter onboard Oceania’s 348 cabin ship, Regatta Setting sail from Rome on 1 September 2026 with 24 custom-built sectors, Explorations by Norwegian will span over 201 unique ports, 62 countries and 6 continentsThe inaugural sailing will be enjoyed by 520 Australians, 80 Britons and 60 New ZealandersA unique way to experience the world through: Simplified Shore Excursion to explore in an immersive way Onboard Destination Director World-Class Talent and Entertainment plus elevated Dining Experiences First 6 months: 95% sold 12 people booked for the Full World One couple booking the Owner’s Suite for the Full World at $500k 100% Exclusive to Flight Centre Travel Group brands 43FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS 06 Supplementary Information
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FLIGHT CENTRE TRAVEL GROUP Outbound Travel: A large and resilient sectorAustralian short-term resident departures (STRD) have increased year-on-year 42 times during the past 50 years despite economic challenges and geo-political tension 4402000000400000060000008000000100000001200000014000000Australian Short-Term Residential Departures6 YOY decreases pre-CovidSource: Australian Bureau of Statistics Covid & post pandemic period06 Supplementary Information FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS
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FLIGHT CENTRE TRAVEL GROUP STRD downturns typically short-term & followed by healthy rebounds 450500000100000015000002000000250000030000003500000400000045000005000000CY2003 CY2004Strong rebound in STRD after 2003 downturn010000002000000300000040000005000000600000070000008000000CY2008 CY2009 CY2010 CY2008 2H CY2009 2HRapid post GFC Uplift+17.8%+7.4%+13%+28.8%Example 1: 2003 STRD decline driven by SARS and invasion of IraqExample 2: GFC impacted STRD late in 2008 and early in 2009; did not result in YOY STRD declines06 Supplementary Information FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS
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FLIGHT CENTRE TRAVEL GROUP This presentation contains summary information about Flight Centre Travel Group Limited and its controlled entities (FLT or the FLT Group) and their activities as at 26 August 2026. The information in this presentation does not purport to be complete and should be read in conjunction with FLT's Appendix 4E and Annual Report for the year ended 30 June 2026, along with other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange (ASX), available at www.asx.com.au.The information in this presentation does not constitute investment, financial product, taxation or legal advice for investors or potential investors, and does not take into account the investment objectives, financial situation or needs of any particular investor. Nothing in this presentation constitutes or forms part of any offer, invitation, solicitation or recommendation to purchase or sell securities. All dollar values are in Australian dollars (A$) unless otherwise stated. This presentation is unaudited. However, this presentation contains disclosures which are extracted or derived from FLT’s Annual Report for the year ended 30 June 2026, which has been audited by FLT's Independent Auditor. This presentation includes certain non-International Financial Reporting Standards (non-IFRS) financial information. Non-IFRS financial information is financial information that is presented other than in accordance with relevant accounting standards and may not be directly comparable with other companies' information. Management uses non-IFRS measures to assess and monitor business performance. Such measures should be considered in addition to, and not as a substitute for, IFRS information. All non-IFRS financial information is unaudited and has not been reviewed by FLT's Independent Auditor. For definitions of non-IFRS financial information, refer to FLT’s Annual Report and Appendix 4E for the year ended 30 June 2026. This presentation contains forward-looking statements. Forward-looking statements may be identified by the use ofterminology including terms such as 'will', 'guidance', 'outlook', 'anticipate', 'aim', 'ambition', 'believe', 'may', 'should', 'estimate', 'plan', 'target', 'expect' or 'project', or similar expressions. Forward-looking statements, opinions and estimates provided in this presentation may include, but are not limited to, statements regarding FLT's future financial position, earnings guidance, management’s strategies, expectations and objectives; projected customer and travel demand; the development of new initiatives, products and projects; capital expenditure or costs and scheduling; the availability, deployment and uptake of new technologies (including artificial intelligence); the timing and quantum of future dividends; and legal, tax and other regulatory developments.These forward-looking statements reflect FLT's expectations and assumptions as at the date of this presentation. Such statements are not guarantees or predictions of future performance, and are subject to a number of risks, assumptions and contingencies, many of which are outside the control of FLT and which may cause actual results to differ materially from those expressed or implied in this presentation. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the key risks relating to FLT and its business detailed in section [7] 'Recognise and manage risk' of the FLT Corporate Governance Statement lodged with the ASX on 26 August 2026. FLT cautions against reliance on any forward-looking statements, particularly in light of these risks. Forward-looking statements may also be made, verbally or in writing, by members of the FLT Group's management team or the board of FLT in connection with this presentation. Any such statements are subject to the same limitations, assumptions and disclaimers set out in this presentation.No representation or warranty, express or implied, is given as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. Except as required by applicable laws, regulations or the ASX Listing Rules, the FLT Group assumes no obligation to publicly update, review or revise any forward-looking statements, or to advise of any change in assumptions on which any such statement is based, after the date of this presentation. Past performance is not a reliable indicator of future performance. Disclaimer and important notice 46 06 Supplementary Information FLIGHT CENTRE TRAVEL GROUP FY2026 RESULTS