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2025 Earnings Webcast PARADISUS FUERTEVENTURA | SPAIN
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This report is a communication made or approved for communication by Meliá Hotels International. It is directed exclusively to eligible counterparties and professional clients. No persons other than an eligible counterparty or a professional client should read or rely on any information in this report. This research report is being distributed by Meliá Hotels International, purely as a resource and for general information purposes and only contains general information; therefore, this report does not take account of the specific circumstances, investment objectives, financial position or risk profile of any recipient and should not be relied upon as authoritative or taken in substitution for the exercise of judgement by recipient. Each recipient should consider the appropriateness of any investment decision having regard to their own circumstances, the full range of information available and appropriate professional advice. 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Introduction & Financials 123 45 Development & Outlook Operational Overview Q&A Senior Executive Team Live February 26th 2026 at 09:00 Closing Remarks Gabriel Escarrer President & CEO André Gerondeau Chief Operating Officer André Gerondeau Chief Operating Officer Gabriel Escarrer President & CEO 3 ME MALTA | MALTA
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Introduction 1 Q u a l i t y- d r i v e n g ro w t h w i t h s t a b l e s e g m e n t s a n d m a r ke t m i x S t ro n g O p e rat i o n a l m e t r i c s d e s p i t e Fx h ea d w i n d G ro w t h m a i n t a i n e d e v e n w i t h m a j o r h o t e l s u n d e r f u l l re n o v at i o n A s m o o t h e r m at u r i t y s c h e d u l e a h ea d CASA DE LAS ARTES, MELIÁ COLLECTION | MADRID 4
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Strong Financial Results Y early Overview 1 • Consolidated Revenues Ex. capital gains fuelled by owned & leased perimeter evolution • 3rd party Management fees adjusted by perimeter changes and operations in Cuba • EBITDA increased by 2.1%, a third consecutive year increase under normalized trends. • Net Financial result improved by 24 M€ thanks to lower financial debt and reference Interest rates • Cost of debt at 4.2% vs. 5.5% in 2024 5 In EUR Million 2025 2024 Var. Consolidated Revenues 2,096.5 2,056.3 +2.0% Operating Expenses (1,479.5) (1,441,8) -2.6% EBITDAR 617.0 614.5 +0.4% Variable Rentals (53.4) (39.1) -36.4% EBITDA 563.6 575.4 -2.0% D&A (260.1) (241.9) -7.5% EBIT 303.5 333.5 -9.0% Net Financial Result (73.8) (98.1) +24.7% JV & Associates 36.4 (11.0) +431.1% Group Net Profit 200.2 162.0 +23.6% Ex. Capital Gains Consolidated Revenues 2,077.6 2,012.8 +3.2% EBITDA 544.7 533.6 +2.1% EBITDAR Margins 28.8% 28.5% +34 bp EBITDA Margins 26.2% 26.5% -29 bp 3rd Party Management Fees 70.1 73.6 -4.7% Owned & Leased RevPar + 3.5% Av.Rooms +1.5%
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Y early Overview 1 6 Stable Leverage ratio after strong debt reduction * Net Debt and EBITDA figures excluding leases impact and capital gains Financial Net Debt/EBITDA* Financial Position 0,0 1,0 2,0 3,0 4,0 5,0 6,0 7,0 8,0 00 200 400 600 800 1.000 1.200 1.400 2019 2020 2021 2022e 2023 2024 2025 Net Debt / Ebitda Ratio Net Finaical Debt Net Financial Debt Net Debt / EBITDA 2.1 5.8 3.9 2.22.2 Asset Repositioning and Growth opportunities Increase dividends paid to Shareholders Be active in our Asset Light Approach through Key Moneys
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Y early Overview 1 Debt Maturity Profile Financial Position 164,5 282,6 227,9 158,8 90,1 32,2 52,5 2026 2027 2028 2029 2030 > 5 years Bank Loans & Others Capital Markets 2025-2030+ Year end 2025 (€ Millions) After Syndicated Loan Signature 37,5 17,2 47,0 50,6 367,9 414,8 52,5 2026 2027 2028 2029 2030 >5 years Bank Loans & Others Capital Markets Signature an €800m syndicated loan to repay existing debt, streamline our capital structure and extend key maturities beyond 2030, with no increase in leverage.a 77
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Paradisus Salinas • Acquired 50% for € 36.4 M (cash impact) • Secured 30 year HMA • First hotel to bring Paradisus Brand to Europe, considered strategic for our Luxury All-Inclusive strategy P. Cancun refurbishment • Started renewal Works in June 2025 with a full closure • Total Growth Capex → € 50 M with even distribution in 2025 & 2026 • Works continue underway and in line with forecasts • Reopening in May 2026 JV with Banca March • Created a 30% / 70% JV with Banca March • Sol Tenerife and Innside Palma Bosque assets acquired, under variable lease agreements • Cash Neutral Transaction Gran Meliá Don Pepe • Closure of the hotel in October 2026 for a full refurbishment elevating room standards and Luxury attributions • Total investment of approx. € 40M and a 12 month expected works Capital Allocation in 2025 – Main Projects 8
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Operational Overview2 Demand Quality & Mix Pricing Discipline Systemwide KPI’s + 5.4% RevPar +6.6% Constant currency +3,0% ADR +1.4 pp Occupancy Channel Optimisation • Maintaining a strong generation of Direct Sales through our Own Channels Asset Repositioning & Ramp Up • Asset repositioning together with our partners still with Ramp-Up potential Assets under full renovation Paradisus Cancún → Reopening May 26’ Gran Meliá Don Pepe → Reopening Oct 26’ Geographic Diversification • Our premium destinations fostered balanced feeder markets, expanding our Brand awareness. Portfolio Growth • 28 Openings vs. 25 initially estimated • Growth in premium locations mainly through asset light formulas • Balanced demand through segments in urban and leisure destinations • MICE strong in Spain & EMEA, with further upside in America region. MELIA.COM Of centralised sales ≈ 19 Mn MeliaRewards members >48% 9
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ARR Occup. RevPAR Leading Performance ME MALTA | MALTA Operational KPI’s 2 “Return to normalized demand patterns capitalized through our brands and premium locations” Maintaining rate growth / Focusing on quality over quantity. ARR | +3.0% Occupancy | +1.4 pp + 5.4% Yearly Systemwide RevPar Growth 1010
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Q4 showed strong momentum across the portfolio, with resilient leisure demand and solid Christmas trading supporting rate performance. Meliá Whale Lagoon (Maldives) Operational Overview2 11
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Resilient demand and pricing discipline drove a robust close to the year in Spain Meliá Ibiza Operational Overview2 Gran Meliá Fénix -1,07% 0,75% 4,6% 7,4% 3,5% 8,2% Q4 12M Spain Occupancy, ADR and RevPar (YoY) Systemwide Data Occupancy ADR RevPar Spain Resort RevPar Q4 + 4.0% 12M +7.6% Spain City RevPar Q4 +3.6% 12M +5.0% 12
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Operational Overview2 We are reinforcing our leadership across the Balearic Islands and Andalucía. Fostering our leading position in Spain ▪ 10 openings in 2025 ▪ 10 hotels in the pipeline Hacienda del Mar, Meliá Collection (Estepona, Málaga) | Opening 2026 Málaga, Cádiz, Granada, Mallorca & Tenerife ▪ Positioned to capture incremental growth through country fundamentals and exposure to upscale & Luxury 13
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2,7% 3,1% 2,5% 1,3% 5,3% 4,4% Q4 12M EMEA Occupancy, ADR and RevPar (YoY) Operational Overview 2 0,2% -0,1% 4,1% 3,0% 4,3% 2,9% Q4 12M 9% 4% -3,5% -3,8% 4,7% 0,1% Q4 12M Americas Occupancy, ADR and RevPar (YoY) Cuba Occupancy, ADR and RevPar (YoY)Asia Occupancy, ADR and RevPar (YoY) 1414Occupancy ADR RevPar 21,1% 7,0% -9,9% -9,0% 9,0% -2,6% Q4 12M
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America (22%) Dominican Republic Honduras Argentina Peru USA Mediterranean & Europe (60%) Spain Andorra Italy Portugal Greece Albania Malta Hungary Middle East & Indian Ocean (12%) Maldives Saudi Arabia Bahrein Southeast Asia (6%) Vietnam Thailand Indonesia ▪ 51 Signatures | +9,000 rooms ▪ 28 Openings in 2025 | +2,700 rooms A year of healthy qualitative expansion, strengthening the resort-focused core Distribution of new Signatures in 2025 New Countries Development 3 MELIÁ VENECIA LIDO | ITALY 15
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MiM Sitges MiM Mallorca Portfolio MiM (Leo Messi) under The Meliá Collection brand 6 hotels (Spain y Andorra) Development 3 16 16
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Development 3 We continue to elevate our portfolio to a new level of excellence and differentiation From legacy to lifestyle: SOL evolves for today’s holidaymakers 17
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Sol Arona (Tenerife), the first hotel of the new generation of SOL by Meliá Development 3 18
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ME LISBON | PORTUGALDevelopment 3 Portfolio (Operational at Year End) 383 Hotels 94.912 Rooms +1.0% Net Unit Growth Pipeline (At Year End) 79 Hotels +16.000 Rooms 17.2% Over Operational Portfolio 2026 (Outlook) +30 New Properties +25 New Signatures +2-3% Net Unit Growth 19
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Low-mid single digit 2026 RevPar Increase Positive Outlook thanks to solid On The Books position Growth visible across all segments, with highly anticipated MICE also showing positive position Positive season in the Canary Islands and ski resorts thanks to the solid skiing season and Winter Olympics in Milano Cortina Caribbean also positive, while impacted by Fx effect weighing on Euro conversion Feeder markets remain solid year-on- year Outlook 3 +10% On the Books +10 % MICE OTB ZEL COSTA BRAVA | SPAIN 20
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1 2 3 4 Strong operating cash flow funded investments while maintaining stable Net Debt / EBITDA, in line with expectations. Disciplined financials: extended maturities, with leverage unchanged RevPar Guidance for 2026 Low-mid digit increase YoY Closing Remarks GRAN MELIÁ TORRE MELINA | SPAIN €544.7 million EBITDA ex-capital gains, +2.1% YoY — delivered despite major refurbishments in flagship assets 2121 EBITDA 25` Impact of renovated assets slightly above 10M€ Continue growing in top leisure and bleisure destinations, aiming to open at least 30 new hotels in 2026.
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Thank You