Slides
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1 Managing Director’s Presentation. 2026 AGM
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2 FY26 in review..
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3 FY26: Market-leading growth without margin compromise. • Refer to Glossary & abbreviations on slide 16. • Web Travel Group includes WebBeds and Corporate function Market Share Growth Market leading TTV growth while expanding TTV margins. TTV $5.8bn on FY2520% Revenue up Accelerating margin growth in 2H to 7.1%. REVENUE $394.1m on FY25 20% WebBeds EBITDA up Operating leverage coming through. EBITDA $172.7m on FY25 24% Group EBITDA up Reflects corporate overheads $24.3 million in line with guidance. Underlying Group EBITDA $148.4m on FY25 23% Standalone NPAT FY26 reflects first full year of standalone costs post Demerger. Underlying NPAT $85.9m on FY25 8% Significant liquidity $448.1 million cash at 31-Mar-26 107% cash conversion. Underlying EPS 23.8 cents on FY25 16%
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4 WebBeds - FY26 Key Metrics. TTV $5.8 billion REVENUE $394.1 million EBITDA $172.7 million BOOKINGS 9.9 million Reflecting operating leverageIn line with bookings growth TTV margins expandingSignificant organic growth in Americas and Europe
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5 TTV margins improved in 2H. $1Bnincremental TTV delivered at improved margin. Note: FY25 TTV and TTV margins exclude the DMC operations sold in April 2025 to provide a like-for-like comparison of the underlying business. 1. 1H25, 2H25 and FY25 TTV margin excludes DMC operations 2. DMC operations sold in April 2025 accounted for c.0.1% of FY25 margin 21% higher TTV with improved margin. We delivered $1 billion of incremental TTV in FY26 at an improved TTV margin, demonstrating disciplined growth and margin resilience Optimisation initiatives and investment in hotel contracting resources are delivering. AI pricing driving conversions Revenue/TTV margin (1) 1H25 2H25 FY25 1H26 2H26 FY26 6.4% 6.9% 6.6% 6.5% 7.1% 6.8% TTV margins – FY25 vs FY26 6.8% TTV Margin 6.7% TTV Margin -0.1% (2) DMC Sale 0.2% Growth 1H26 6.5% TTV Margin 2H26 7.1% TTV Margin FY26 6.8% TTV Margin
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6 Growing 4X the underlying market. Pillars of Growth are delivering. 01 Growing Our Existing Portfolio. Underlying market growth consistent with FY25 Driving ~5% (1) TTV growth 02 New Customers, Supply & Markets. Customer wins in all markets and increased sales of new direct contracts Driving ~5% TTV growth 03 Conversion. Increased volume from conversion initiatives including enhanced mapping, increased content, and evolving AI pricing Driving ~11% TTV growth • Estimates based on travel market data compiled from listed travel company results reporting and management estimates • Total TTV growth of 21% excludes DMC operations.
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7 AI plays an important role internally. AI Pricing - 40% of product currently AI priced using a proprietary neural network model AI-enabled room type mapping – allows mapping of 500k room types per month to ensure more appropriate content is available for sale Intelligent Search – using AI to deliver most appropriate content to travel buyers at a per search level Multiple Automations - driving c.38% reduction in customer service requests due to improved self-help tools Procurement Hub - seen c.70% reduction in processing times for IT purchases. To be rolled out more broadly Secure, internally-hosted AI assistant - democratises data access and allow employees to use natural language to analyse large data sets AI Rate Monitoring - detects and resolves pricing anomalies delivering significant cost savings Point of Sale - AI enabled conversational search Image Curation - AI used to reduce 130+ million supplier images to a curated group of 50 high quality, relevant images per hotel Implementation of new Customer Service platform - provides AI-driven insights, scoring and metrics tied to actual outcomes rather than interaction volume Improving Conversions. Helps drive revenue growth and margin optimisation Cost Efficiencies. Productivity gains and operating leverage through targeted workflow automation and internal analytics Customer Experience. Improving the product experience for customers and therefore conversions ~50% of the TTV growth delivered in FY26 is attributable to conversion. Automating back-office tasks & improving quality of the buying journey & value of partnerships. A range of initiatives underway across the business. 2.5x more bookings per FTE vs CY19.
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8 WebBeds in an AI world.
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9 LLMs are great at understanding & recommending – but they can't book what they don't have access to. WebBeds is the infrastructure in an AI world. WebBeds’ existing product, just consumed differently.
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10 We provide the commercial aggregation layer for AI travel. WebBeds infrastructure powers this evolving landscape. The interface through which travel is booked may be changing but the supply complexity underneath is not. Contracted Rates + Availability + Payments + Compliance + Support + Content + Pricing + 24/7 fulfillment + Global Scale delivered through a single API connection. AI agents still need trusted, structured, transaction-ready supply. WebBeds is one of the few global providers able to feed AI agents appropriately.
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11 AI changes how demand reaches us - not why WebBeds is needed. We provide the infrastructure and commercial aggregation that travel platforms and AI agents require at scale. Significant opportunities in an AI world. Growth of AI agents helps WebBeds become more valuable. Direct bookable and serviceable access is hard and economically unattractive to replicate at global scale, increasing the value of aggregation. Higher demand from AI agents means more queries through existing WebBeds infrastructure, resulting in incremental booking opportunities Our scalable business model becomes more valuable by delivering significant operating leverage WebBeds’ existing product, just consumed differently All automated procurement will need rate-contract-compliant, structured supply access. The emerging shift: B2B becomes B2A (Business-to-Agent) WebBeds is well placed to capture that opportunity as it emerges.
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12 FY27 trading update & outlook.
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13 WebBeds operating leverage continues to improve with 1H27 EBITDA growth (in EUR functional currency) expected to exceed revenue growth. The Americas continuing to see very strong TTV growth. Europe, MEA & APAC TTV improved quarter over quarter. 1H27 cash conversion on track to be higher than 100%. Capital management announced – $90 million on market share buyback. 1H27 Updated Guidance. 1. In EURO functional currency 1H27 Group EBITDA $85 to 89 million (1H26: $81.7 million) 1H27 TTV Margin At least 6.7% (1H26: 6.5%) 1H27 Revenue 14-16% on 1H26 (1)
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14 (A$) As at 27 Aug-26 FY27 Corporate costs c. $28 million FY27 D&A (excluding AA) c. $30 million FY27 Underlying net interest and finance costs c. $20 million FY27 Underlying effective tax rate c. 18% FY27 CAPEX c. $35 million, down c.7% vs FY26 FX impact Euro to AUD assumption for FY27 61cents FX full year headwind of c.7% converting Euro into AUD (c.9% 1H27 & c.5% 2H27) FY27 Group financial statement guidance.
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15 Thank you. All event information can be found on the Calendar page of our Investor Centre website A further trading update will be provided at the 1H27 results briefing on 25 November 2026.
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16 1H25 6 months ending 30 September 2024 2H25 6 months ending 31 March 2024 1H26 6 months ending 30 September 2025 2H26 6 months ending 31 March 2026 1H27 6 months ending 30 September 2026 FY24 12 months ending 31 March 2024 FY25 12 months ending 31 March 2025 FY26 12 months ending 31 March 2026 FY27 12 months ending 31 March 2027 AI Artificial Intelligence APAC Asia Pacific B2B Business to Business DMC Destination Management Company LLM Large Language Model MEA Middle East & Africa TTV Total Transaction Value TTV margin Revenue/TTV Unless otherwise stated, all financials are for Underlying Operations and all comparisons are over the previous corresponding period (pcp). Underlying performance (which are not the statutory results) are non-IFRS measures and not subject to review procedures. They reflect the core financial performance of Web Travel Group, adjusting for the impact of any one-off or non-recurring items, non-cash items such as share based payments. These adjustments are made to give investors a clearer and more consistent view of Web Travel Group's ongoing financial performance. Glossary & abbreviations.
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17 This presentation contains summary information about Web Travel Group Limited (Web Travel Group) and its activities current as at the date of this presentation (unless otherwise stated). It should be read in conjunction with Web Travel Group’s other periodic and continuous disclosure announcements filed with the Australian Securities Exchange, which are available at www.asx.com.au under Web Travel Group’s ticker code WEB. This presentation is for information purposes only and is not a prospectus, product disclosure statement, financial product or investment advice or a recommendation to buy or sell Web Travel Group shares or other securities. It has been prepared without considering the investment objectives, financial position or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own investment objectives, financial position and needs and seek legal and taxation advice appropriate to their jurisdiction. Past performance is no guarantee of future performance. This presentation may contain forward-looking statements including statements about our intent, belief or current expectations regarding Web Travel Group’s business and operations, market conditions and financial performance. Forward-looking statements can generally be identified by words such as ‘plan’, ‘will’, ‘anticipate’, ‘expect’, ‘may’, ‘should’, ‘could’, ‘likely’, ‘intend’, ‘propose’, ‘forecast’, ‘estimate’, ‘target’ and similar expressions. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward-looking statements. Forward-looking statements involve inherent risks, uncertainties and assumptions and other important factors that could cause the actual results, performance or achievements of Web Travel Group to be materially different from future results, performance or achievements expressed or implied by such statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based only on information available to Web Travel Group as at the date of this presentation. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, correctness or reliability of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Web Travel Group, its related bodies corporate, and their respective directors, officers, employees, agents and advisers accepts liability for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it, including, without limitation, any liability arising from fault or negligence. Important notices & disclaimer.