Slides
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Investor Presentation Q2 & H1 FY2027
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Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by RateGain Travel Technologies Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation o r invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any c ont ract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but th e Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of , or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward - looking statements. Such forward - looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. T hes e risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of variou s international markets, the performance of the industry in India and world - wide, competition, the company’s ability to successful ly implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from resu lts expressed in or implied by this Presentation. The Company assumes no obligation to update any forward - looking information contained in this Presentation. Any forward - looking statements and projections made by third parties included in this Presentati on are not adopted by the Company and the Company is not responsible for such third - party statements and projections. 2
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OUR VISION To offer an integrated technology platform to our customers in the travel and hospitality sector, powered by artificial intelligence, enabling them to increase their revenue through guest acquisition, retention, and wallet share expansion. 3
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Distribution DaaS • Guest Marketing • Paid Digital Marketing • Reputation Management • Social Media Management Mar Tech • Rate Intelligence • Rate Parity • Price Recommendation • Travel Intent Data • OTA Connectivity • GDS Connectivity • Direct bookings • Voice Connectivity What we do Aligned to our vision of Guest Acquisition, Retention, and Expansion 4 Who we serve 25 Global Fortune 500 Companies 33 of Top 40 Hotel Chains All Leading OTAs & Metas 7 of Top 10 Car Rentals 4 of Top 5 Airlines Large Cruise Lines Largest DMOs
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5 RateGain offers an Integrated RevMax Platform to Engage with Guests across the Entire Journey Searches for hotels, flights, & packages on Google, Bing, Brand.com Dreaming Planning Booking Trip Post - trip Martech ▪ AI - powered Content Creation & Social - Media Management to help Hotels gain visibility ▪ Help DMOs & Travel Brands target AI filtered high - intent traveler & achieve higher RoAS ▪ Multi - channel campaigns to drive incremental direct bookings for Hotels DaaS & Distribution ▪ Real - time competitive pricing & demand insights to optimize revenue ▪ Help Hotels acquire Guests (distribute inventory) across different demand channels – Direct, OTAs, and GDS ▪ AI - powered Voice Agent VIVA to address guest queries and take reservations Martech ▪ AI Concierge to address guest needs 24/7 and drive ancillary revenue for Hotels ▪ Reputation Manager to generate feedback from Guests and build up brand presence ▪ Fully Managed CRM & Email solution to increase Guest Loyalty Pre - trip Gets inspired by looking at images on social media Visits OTAs, Brand.com to book flights, hotels, packages Looks for activity recommendations Seeks great experience as promised during planning Provides feedback , & recommendations on online portals
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Key Business Updates Q2 & H1 FY2027 6
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Our customers are operating in a market where demand keeps shifting, and they are relying on our data and AI to stay ahead of it . We remain positive about the future and focused on long - term growth . That means adding customers, deepening how much of our platform each of them uses, and extending our AI into more of their everyday work . In the second half, our priority is to bring the full RateGain and Sojern platform to more of these customers and to execute well . Our Q 2 performance reflects the progress we are making in building a stronger, more profitable business . Adjusted EBITDA grew ahead of revenue, margins remained healthy, and our earnings continued to translate into strong cash flow . This performance gives us confidence to accelerate investments in product innovation, AI and market expansion, while maintaining a disciplined approach to capital allocation . We remain focused on translating the scale of our platform into sustainable, profitable growth and long - term value creation . BHANU CHOPRA Chairman and Managing Director CHETAN GARG Chief Financial Officer Management Commentary 7
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8 RateGain posts Healthy Growth with Strong Operating Margins Note : EBITDA and PAT are Adjusted for Deferred Deal Consideration related to the Sojern Acquisition . This expense is to be incurred for 3 years ending Q 3 FY 29 . 152.6% 169.5% Operating Revenue Growth Y - O - Y 215.4 % 250.9% Adj. EBITDA* (%) Growth Y - O - Y 78.0% 111.9 % Adj. PAT* (%) Growth Y - O - Y Q2 FY2027 H1 FY2027 INR 745.4 Cr INR 1,530.4 Cr INR 169.1 Cr (22.7%) INR 362.5 Cr (23.7%) INR 90.8 Cr (12.2%) INR 207.6 Cr (13.6%)
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Diversified Revenue Streams • Diversified revenues across offerings, geographies & customers • Healthy revenue mix with subscription, hybrid & outcome - based business along with recurring nature of revenues given strong value proposition 7.5% 78.5% 14.0% Subscription Transaction Hybrid Revenue by Engagement 1 48.6% 30.9% 7.2% 3.7% 2.3% 7.3% Hospitality DMOs OTAs Airlines Car Rentals Others Revenue by Industry Type 1 63.7% 12.3% 21.5% 2.5% North America Asia Pacific Europe Others Revenue by Geography 1 18.7% 81.3% Top 1-10 Others Revenue by Customers 1 Note : Numbers have been rounded to nearest whole percentages or one decimal place .. 1 . H 1 FY 27 Revenue from contracts with customers . 2 . GRR – Gross Revenue Retention - denotes percentage of renewed revenue in DaaS and Distribution as compared to previous Fiscal & NRR - Net Revenue Retention – Denotes percentage of incremental revenue in DaaS and Distribution from same clients compared to previous fiscal 3 . LTV : CAC is computed by i ) Multiplying Gross Margin from New Sales with expected lifetime of the contracts to arrive at LTV ii) CAC is calculated by including the total sales and marketing costs incurred . Client Count & LTV to CAC 2,942 3,279 3,224 13,410 14,538 1,000 3,000 5,000 7,000 9,000 11,000 13,000 15,000 FY2023 FY2024 FY2025 FY2026 H1FY2027 LTV to CAC 3 14.1 10.2 21.3 No. of Customers 13.6 12.8 Gross Revenue Retention 2 94.2 95.1 94.9 95.5 0 20 40 60 80 100 FY2024 FY2025 FY2026 H1FY2027 NRR 2 120.9 100.5 99.6 9 103.5
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10 INR 2.5 Cr REVENUE PER EMPLOYEE Increase of 81.6% on a Y - o - Y basis as we integrate Sojern 87.0% FREE CASH FLOW CONVERSION 14,538 CUSTOMERS Customers added with Sojern Acquisition 1, 244 EMPLOYEES 42.8% increase Y - o - Y in Employee Headcount 10.2x LTV TO CAC Compared to 14.1x in H1FY26 INR 239.2 Cr NET CASH & EQUIV. Net Debt – INR 494.0 Cr INR 660 Cr TOTAL PIPELINE Pipeline with traction across segments INR 277.7 Cr NEW CONTRACT WINS Healthy growth compared to last year Steady Growth Metrics Combined with Operational Efficiency
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DAAS MARTECH DISTRIBUTION ▪ Vietnam Airlines selects RateGain to strengthen position across international markets ▪ VIETJET QAZAQSTAN selects AirGain to support real - time competitive fare intelligence across key routes. ▪ RateGain & Duetto partner to power autonomous, real - time revenue optimization for hotels worldwide 2.2% 319.8% 13.9% Key Highlights Segment wise Growth (Y - o - Y)(H1FY27) Key Partnerships 11 Steady Revenue Streams Driven by Constant Product Innovation ▪ RateGain signs Cinko to help hotels capture last - minute booking demand ▪ RateGain & ZentrumHub announce strategic connectivity partnership to simplify hotel distribution ▪ Citrus Leisure partners with RateGain’s UNO Direct Stack to power end - to - end direct booking journey across Sri Lanka ▪ Expanded Relationship with One of the Marquee DMO clients basis consistent delivery and value - added products ▪ Sojern convenes Second Annual European Destination Advisory Board with DMO Leaders in Athens ▪ Sojern expanded relationship with La Quinta Inn on Property Commission for a portfolio of Properties ▪ Experience Kissimmee launched a Co - op program with S o jern , leveraging it’s travel - intent data, t o create $9 Mn of economic impact for the region ▪ SoHo utilized AI powered creatives and targeted messaging to generated 235x ROI and a Silver win at HSMAI Awards
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Award - winning Team Driving Performance PRODUCT EXCELLENCE PARTNER EXCELLENCE 12 3 Years in a Row PEOPLE EXCELLENCE UNO Channel Manager recognized by Trip.com as a Favoured Connectivity Partner for the third consecutive year. Recognized in the Skills Transformation category for building an AI - native, future - ready workforce RateGain named Fastest Growing SaaS Company, recognizing its growth at the intersection of AI, data, and travel technology.
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13 Reimagining People & Culture: Scaling One RateGain Through Integration, AI & Leadership Depth We close H1FY27 on a strong note with new Leadership in place and globally integrated People function. With the integration on track, the focus is towards strengthening presence in key geographies, improving employee experience and building scalable people practices towards making RateGain the leading global travel tech company. ▪ Leadership development strengthened across key talent segments. ACCEL 2.0 engaged 27 senior leaders in a four - month leadership journey, while SheLeads 2.0 brought together 25 high - potential women for a three - month leadership development journey. ▪ Future - ready skills recognised at the People Matters Infini - T Awards 2026. RateGain recognised in the Skills Transformation (AI/Digital/Future Skills) category for embedding new capabilities into how employees learn, work and create value. ▪ AI engineering capabilities advanced at scale . 40+ technology team members participated in a hands - on workshop on Agentic Architecture, Evaluation, Guardrails and Safe Deployment, building practical capabilities in developing and deploying AI agents responsibly. ▪ Hiring momentum held, with a sharper focus on quality. We welcomed 87 new colleagues across sales, engineering and customer success, with a meaningful share of roles filled internally. We are in the journey of rolling out competency - based interview practices to improve consistency and hiring quality across regions. Together, these reflect a People & Culture function building for scale: unified systems, AI embedded into everyday work, stronger managers, and a culture where performance and belonging grow together.
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Innovations at RateGain 14
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Today, we are Reimagining Hospitality with AI 15 Making Guest Acquisition Effortless With AI Maximizing Revenue Instantly With AI Target High - Value Travelers With AI AI Voice Agent For Instant Reservations Deliver Personalized Guest Promotions on Email / Text With AI AI That Addresses Guests’ Needs, Upsells, and Expedites Essential Services Optimize Ad Spend With AI - Powered Bidding AI - Powered Channel Manager For Real - Time ARI Updates
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Introducing Agentic ARI: A next - generation ARI engine for faster, smarter hotel distribution 16 An AI - enabled ARI engine that autonomously prioritizes, sequences, and executes ARI updates based on days to check - in, booking urgency, and commercial impact Ensure rate consistency and win more bookings with: • Faster rate increases during peak demand. • Quicker price drops to stay competitive in low demand. • Immediate inventory recovery after cancellations. How Supply Partner Benefits Delivers cleaner, faster, and more reliable data • 30 - 40% optimization in ARI Traffic. • Prioritized processing of the most relevant updates. • Fewer mismatches and failed bookings. How D emand Partner Benefits
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Introducing RateIQ : Identify & Recover Hidden Revenue Across Distribution 17 Hotels are not losing revenue (millions) due to pricing — they’re losing it due to distribution inefficiencies they can’t see. Invisible revenue leaks across channels RateIQ = Revenue Recovery Intelligence Layer • Invisible Properties – Not listed across key OTAs • Missing ARI – Rates/availability not live despite listings • Looks No Books – High visibility but zero conversions • Performance Drift – Gradual decline in bookings/revenue • Parity Violations – Inconsistent pricing across channels • Continuously scans distribution performance across channels • Detects revenue leakages at property + channel level • Prioritizes issues based on commercial impact • Fixing rate violations transforms booking dead zones into revenue wins Gain full visibility into distribution gaps Improve discoverability & conversion Save Revenue Loss P roactive optimization
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Detailed Financials 18
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19 Sustained Financials and Profitability Metrics • Increased AdSpend & Data Partner spend leading to higher renewals and continued revenue traction, has an impact on Gross Margins • EBITDA in H1FY27 is already ahead of FY26 EBITDA, on the back of Strong Operating Margins performance with healthy progress on Sojern integration Gross Margins (%) 76.0 75.1 75.3 75.0 70.6 68.5 0 20 40 60 80 100 FY2022 FY2023 FY2024 FY2025 FY2026 H1FY2027 EBITDA Margins (%) 8.3 15.0 19.8 21.6 19.6 23.7 0 5 10 15 20 25 FY2022 FY2023 FY2024 FY2025 FY2026 H1FY2027 Operating Revenue (INR Cr) EBITDA (INR Cr) 30.6 84.7 189.7 366.6 565.1 1,076.7 1,530.4 1,228.2 0 400 800 1,200 1,600 2,000 FY2022 FY2023 FY2024 FY2025 FY2026 H1FY2027 DaaS Distribution Martech 100.9 201.3 232.1 358.3 1,823.6 957.0 Free Cash Flow (INR Cr) 47.5 148.1 113.4 230.0 282.3 0 50 100 150 200 250 300 FY2023 FY2024 FY2025 FY2026 H1FY2027 49.3% CAGR Note : * - Adjusted EBITDA - EBITDA is Adjusted for Deferred Deal Consideration related to the Sojern Acquisition . This expense is to be incurred for 3 years ending Q 3 FY 29 * * * 362.5
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Key Financial Highlights for Q2FY2027 • Healthy growth registered YoY in Operating Revenue with healthy growth across verticals and the integration of Sojern • Focus on operational excellence and integration contributing to healthy Operating Margins • EBITDA and PAT are adjusted on account of deferred deal consideration related to Sojern acquisition, to be paid over 3 years up to Q3FY29 20 EBITDA 53.6 193.4 169.1 20 50 80 110 140 170 200 Q2FY2026 Q1FY2027 Q2FY2027 INR (Cr) PAT 51.0 116.8 90.8 20 40 60 80 100 120 Q2FY2026 Q1FY2027 Q2FY2027 INR (Cr) PAT Margin (%) 17.3 14.9 12.2 0 5 10 15 20 Q2FY2026 Q1FY2027 Q2FY2027 Operating Revenue 295.0 785.0 745.4 200 300 400 500 600 700 800 Q2FY2026 Q1FY2027 Q2FY2027 INR (Cr) EBITDA Margin (%) 18.2 24.6 22.7 12 14 16 18 20 22 24 26 Q2FY2026 Q1FY2027 Q2FY2027 * * * * Note : * - Adjusted EBITDA & PAT – Adjusted for Deferred Deal Consideration related to the Sojern Acquisition . This expense is to be incurred for 3 years ending Q 3 FY 29 * * * *
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Key Financial Highlights for H1 FY2027 • Strong growth registered YoY in Operating Revenue • Improved margins on the back healthy progress on the integration of Sojern and operating leverage playing out • Focus on operational excellence contributing to healthy Operating Margins 21 EBITDA 110.0 103.3 362.5 60 140 220 300 380 H1FY2025 H1FY2026 H1FY2027 INR (Cr) PAT 97.6 97.9 207.6 80 120 160 200 240 H1FY2025 H1FY2026 H1FY2027 INR (Cr) PAT Margin (%) 18.2 17.2 13.6 0 5 10 15 20 H1FY2025 H1FY2026 H1FY2027 Operating Revenue 537.2 568.0 1,530.4 400 800 1,200 1,600 2,000 H1FY2025 H1FY2026 H1FY2027 INR (Cr) EBITDA Margin (%) 20.5 18.2 23.7 12 16 20 24 H1FY2025 H1FY2026 H1FY2027 * * * * Note : * - Adjusted EBITDA & PAT – Adjusted for Deferred Deal Consideration related to the Sojern Acquisition . This expense is to be incurred for 3 years ending Q 3 FY 29 . For FY 26 , Adj . PAT accounts for Deferred Deal Consideration and One - time exceptional expense incurred in Q 3 FY 26 .
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Consolidated Profit & Loss Particulars (INR Cr) Q2 FY27 Q2 FY26 YoY Q1 FY27 QoQ H1FY27 H1FY26 YoY Revenue 745.4 295.0 152.6% 785.0 - 5.0% 1,530.4 568.0 169.5 % Employee Expenses 284.6 115.4 146.6% 294.8 - 3.5% 579.3 224.5 158.0% Other Expenses 307.8 126.0 144.2% 318.7 - 3.4% 626.5 240.1 160.9% Total Operating Expense 592.4 241.4 145.4% 613.5 - 3.4% 1,205.9 464.7 159.5 % EBITDA 153.0 53.6 185.4% 171.5 - 10.8% 324. 5 103.3 214.2 % EBITDA % 20.5% 18.2% 21.9% 21.2% 18.2% Add: Sojern – Deferred Consideration 16.1 - 21.9 - 26.3% 38.0 - Adj. EBITDA 169.1 53.6 215.4% 193.4 - 12.5% 362. 5 103.3 250.9% Adj. EBITDA % 22.7% 18.2% 24.6% 23.7% 18.2% Depreciation 3.8 2.3 64.4% 3.7 7.0% 7.4 4.2 76.3% Amortization of Acquisition cost 35.4 7.0 404.1% 33.8 4.4% 69.4 13.9 400.3% Finance Costs 16.1 0.3 5418.5% 16.5 - 2.6% 32.7 0.6 5435.1% Other Income (0.3) 21.5 - 101.2% 3.1 - 108.5% 2.8 42.2 - 93.3% Profit/(Loss) Before Tax 97.4 65.5 48.6% 120.6 - 19.2% 217.9 126.9 71.8 % Tax 22.7 14.5 56.2% 25.7 - 11.6% 48.3 28.9 67.1% Profit/(Loss) After Tax 74.7 51.0 46.5% 94.9 - 21.3% 169.6 97.9 73.2 % PAT % 10.0% 17.3% 12.1% 11.1% 17.2% Adj. Profit/(Loss) After Tax 90.8 51.0 78.0% 116.8 - 20.0% 207.6 97.9 111.9% Adj. PAT % 12.2% 17.3% 14.9% 13.6% 17.2% Note: Numbers have been rounded to nearest whole percentages or one decimal place. Adjusted EBITDA & PAT – Adjusted for Deferred Deal Consideration related to the Sojern Acquisition . This expense is to be incurred for 3 years ending Q 3 FY 29 . For FY 26 , Adj . PAT accounts for Deferred Deal Consideration and One - time exceptional expense incurred in Q 3 FY 26 . 22
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Consolidated Balance Sheet Assets (INR Cr) Sep - 26 Mar - 26 Non - Current Assets 2,586.0 2,605.2 Property, plant and equipment 14.1 12.3 Goodwill 1,613.9 1,581.0 Other intangible assets 731.3 784.9 Other intangible assets under development - - Right to use assets 20.1 24.5 Financial Assets i . Investments - - ii. Other financial assets incl. Loans 4.0 2.3 Deferred tax assets (net) 146.8 167.8 Non - Current Tax Assets 55.0 31.3 Other non - current assets 0.8 1.1 Current assets 1,018.4 954.6 Financial assets i . Investments 7.0 24.5 ii. Trade receivables 512.7 471.5 iii. Cash and cash equivalents 232.2 173.1 iv. Bank balances other than (iii) above 0.0 - Other financial assets incl. Loans 9.9 13.7 Other current assets 256.6 271.8 Total assets 3,604.4 3,559.8 Equity & Liabilities (INR Cr) Sep - 26 Mar - 26 Equity and Liabilities 2,218.4 2,005.8 Equity share capital 11.8 11.8 Equity attributable to owners of the Company 2,206.6 1,994.0 Non - current liabilities 646.4 878.1 Financial liabilities Borrowings 448.3 682.6 Lease Liabilities 13.8 18.4 Other Financial Liabilities 40.2 25.2 Deferred tax liabilities (net) 129.3 136.9 Provisions 14.8 15.0 Other non - current liabilities - - Current liabilities 739.6 675.9 Financial liabilities i . Borrowings 284.9 238.7 ii. Trade payables 228.2 238.3 iii. Other financial liabilities 110.7 83.0 Lease liabilities 9.5 9.0 Current tax liabilities (net) 18.1 19.9 Provisions 0.9 0.9 Other current liabilities 87.3 86.1 Total equity and liabilities 3,604.4 3,559.8 23
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Consolidated Cash Flow Statement 24 Cash Flow Statement for Period ended (INR Cr) For Half Year ended Sept - 26 For the Year ended Mar - 26 Profit before tax 217.9 252.0 Adjustments 147.2 93.3 Operating profit before working capital changes 365.1 345.3 Changes in working capital (19.2) (57.8) Cash generated from operations 345.9 287.5 Direct taxes paid (net of refund) 59.3 53.8 Net Cash from Operating Activities 286.6 233.7 Net Cash from Investing Activities 15.4 (1,281.5) Net Cash from Financing Activities (246.8) 835.9 Net Increase in cash and cash equivalents 55.2 (211.9) Net foreign exchange difference 3.9 23.8 Cash and cash equivalents at the beginning of the year 173.1 347.4 Cash and cash equivalents of acquired subsidiary - 13.8 Cash and cash equivalents at the end of the year 232.2 173.1
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Industry Trends 25
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Travel demand remains resilient, while AI reshapes how travelers discover and book 26 100 = Global Travel Health Index (August 2026) • A flat headline masks divergence, as higher prices carry revenue while volume growth slows • Middle East & Africa index fell from 100 in June to 94 in July amid renewed conflict • Flight transaction value rose 25% in Canada, 20% in Italy and 17% in Japan (Jan – Aug), but fell 21% in the UK • European flight demand rose 5% YoY over the summer, with bookings up in all three months and hotel ADR up 4 – 6% 94 96 98 100 102 104 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Weighted average, indexed to the same month last year (red line = YoY benchmark of 100) Source: Skift Research, Skift Travel Health Index (data as of September 2026); RateGain and Sojern data (June – August 2026) 54% = U.S. travelers who have already used AI to plan a trip Yet only 22% of DMOs offer AI trip planning online • 75% of travelers intend to use AI to plan future trips • 40% have discovered a destination through AI, and 29% have changed plans based on an AI recommendation • 72% of DMO leaders believe organizations that do not adopt AI within two years risk irrelevance in destination discovery Hotels: high AI adoption, limited measurable impact HOTELS USING OR PROCURING GENAI >50% CUT MANUAL WORK BY MORE THAN 30% <10% HOTEL PROPERTIES REPRESENTED 58,000+ Source: Mindtrip, Sabre, Sojern and MMGY Travel Intelligence, survey of 1,006 U.S. travelers (August 2026); RateGain State of Distribution 2026, with NYU SPS and HEDNA
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Company Overview 27
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RateGain’s Offering to enable Global Clients to Unlock New Revenue with the Power of AI Focused on the Travel and Hospitality Industry with business units aligned to our vision of acquiring guest, retaining them, and wallet share expansion ▪ Provide data and information to players across the travel & hospitality industry ▪ Deliver insights including competitive and rate parity intelligence ▪ AI led Products to gauge Demand and optimise pricing ▪ Custom audiences based on travel intent Subscription model Hybrid model 1 13.2% USD 1.1 Bn Adara (2023) Sojern (2025) Rev - AI Demand - AI 2005 DaaS Overview Revenue Model Revenue Mix – (H1 FY2027) Total SAM Acquisitions* New AI based Products developed ▪ Seamless connectivity between Hotels and their demand partners including OTAs, GDS and others ▪ Communicate availability, rates, inventory and content ▪ AI led product to standardise content distribution RezGain - Subscription model 2 DHISCO - Transaction model 3 6.6% USD 1.9 Bn DHISCO (2018) Content - AI Voice Connectivity (UNO VIVA) Booking Engine MCP ▪ End to End Digital Marketing Suite to manage Brand presence for Hotels across Social Media and Metasearch platforms ▪ To Optimize Direct Bookings ▪ Monitor Guest Engagement 24x7 ▪ Performance marketing operation leveraging the travel - intent data Subscription model Transaction model 4 80.2 % USD 5.8 Bn BCV Social (2019) MyHotelShop (2021) Adara (2023) Sojern (2025) 2008 Distribution 2019 MarTech Note : Source : Company information, Phocuswright and 1 Lattice report . Note : Numbers have been rounded to nearest one decimal place . 1 . Hybrid Model - charges a minimum subscription fee and a pay - per - use model for accessing additional data 2 . Subscription model - where customers pay a subscription fee to access the product . 3 . Transaction Model – company generates revenues from bookings . 4 . Transaction Model – Revenue from campaigns managed for clients 28 Sell at the right price Sell on the right channels Sell to the right travellers
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Martech – Captures Demand to drive Outcomes for Customers ▪ Increases revenue & profitability for hotels by driving traffic via AI led media management to direct channels & engaging guests ▪ Multi - channel Direct Marketing to Prospect, Acquire & Re - activate Travellers ▪ AI - powered Content Creation & Social Media Management to drive effective engagement during discovery stage Commission (Outcome based Revenue) Managed Media (CPM) 44.7% Properties Overview Revenue Model Revenue Mix as % of Martech – ( H1 FY2027) ▪ Cost Effectively Identifies, Attracts & Engages Travelers For Destination Marketers ▪ Co - op platform – Joint strategy to pool budgets between Hotels, Attractions & DMOs to amplify Budgets ▪ Economic Impact Report to prove Performance for DMOs Managed Media (CPM) Traveler Audiences: Usage Fee 39.7% ▪ Custom AI Powered Audiences & Multi - Channel Activation Strategies at Scale Meeting Managed Media & Self Serve Needs ▪ Full - funnel Audience Building, Campaign Management and Optimization ▪ Access Custom Market and Traveller Demand Insights to Drive Informed Decision Making Managed Media (CPM) Traveler Audiences: Usage Fee 15.6% Destinations Corporates 29 ▪ Serves Independent / Boutique Hotels And Larger Groups & Chains Customer Type ▪ Serves Destination Marketing Organizations (DMOs) & Attractions ▪ Serves Hotel, Airline, Car Rentals, Cruise, Financial Services Brands Demand Booster merged in Properties | Adara has been merged into Sojern Destinations & Corporates 320+ Data Partners, 500 Mn known travellers, billions of daily intent signals and multi - channel activation to drive guest acquisition AI - powered Marketing Platform Captures & Optimizes direct demand across key customer segments, turning travel intent data into m easurable growth
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Multiple Growth Engines to Drive Growth Increases focus on SMB Segment backed by expansive AI - powered Product offering & Strong Value proposition Customer Growth Large customer base to drive cross - sell and up - sell Land & Expand Leverage our large data assets to launch AI solutions & features to offer incremental value to customers AI - powered Product Innovation Invest in GTM teams to build up presence in high - growth geos Geographic Expansion Streamlining Martech offering under a unified platform to deliver predictive traveler insight and drive incremental unique value for customers Martech Expansion Dedicated Strategic Investments Arm to identify Complementary Opportunities and drive synergies Inorganic Growth
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Annexures 31
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Key Shareholders Promoters ▪ Bhanu Chopra & Family currently hold 48.86% ▪ Promoter Group has increased holding up from 48.16% as of Sept. 30, 2025 Key Shareholders Sundaram Mutual Fund 5.32% Nippon Life India Mutual Fund 4.48% Plutus Investments India 3.80% ICICI Prudential Mutual Fund 2.58% Axis Mutual Fund 2.33% Plutus Wealth Management 1.69% CIF III Scheme I 1.23% Shareholder Types (as of September 30, 2026) Promoters & Promoter Group Mutual Funds FIIs Corporate Bodies Others 48.86% 18.20% 6.89% 8.50% 17.23% Insurance Companies 0.32% 32
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CIN: L72900DL2012PLC244966 Mr. Divik Anand Email: investor.relations@rategain.com www.rategain.com Thank You 33