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©2025 Sabre GLBL Inc. All rights reserved. 1 Q3 2025 Earnings Report 5 November 2025
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©2025 Sabre GLBL Inc. All rights reserved. 2 Forward-looking statements Forward-looking Statements Certain statements herein are forward-looking statements about trends, future events, uncertainties and our plans and expectations of what may happen in the future. Any statements that are not historical or current facts are forward -looking statements. In many cases, you can identify forward-looking statements by terms such as "outlook," “pro forma,” “believe,” “momentum,” “confidence,” “position,” "plan," "expect," “encouraged,” “focus,” “optimistic,” “anticipate,” “will,” “long-term,” “sustainable,” “growth,” “accelerate,” “potential,” “opportunity,” “goal,” “estimate,” "commitment," “temporary,” “continue,” “progress,” “possible,” “outcome,” “assume,” “challenge,” "enhance," "guidance," "strategy," "on track," "objective," "target," "pipeline," "trajectory," "benefit," "forecast," "estimate," "project," "may," "should," "would," "intend," or the negative of these terms, where applicable, or other comparable terminology. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Sabre’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. The potential risks and uncertainties include, among others, dependency on transaction volumes in the global travel industry, particularly air travel transaction volumes, the implementation and effects of our growth strategies, the completion and effects of travel platforms, exposure to pricing pressure in the Travel Solutions business, changes affecting travel supplier customers, maintenance of the integrity of our systems and infrastructure and the effect of any security incidents, our ability to recruit, train and retain employees, competition in t he travel distribution industry and solutions industry, failure to adapt to technological advancements, implementation of softwa re solutions, implementation and effects of new, amended or renewed agreements and strategic partnerships, dependence on establishing, maintaining and renewing contracts with customers and other counterparties and collecting amounts due to us under these agreements, dependence on relationships with travel buyers, the ability to achieve our cost savings and efficiency goals and the effects of these goals , our collection, processing, storage, use and transmission of personal data and risks associated with PCI compliance, the effects of cost savings initiatives, the effects of new legislation or regulations or the failure to comply with regulations or other legal requirements, use of third-party distributor partners, the financial and business results and effects of acquisitions and divestitures of businesses or business operations, including the sale of Hospitality Solutions, reliance on the value of our brands, reliance on third parties to provide information technology services and the effects of these services, the effects of any litigation, regulatory reviews and investigations, adverse global and regional economic and political conditions, risks related to global conflicts, risks arising from global operations, risks related to our significant amount of indebtedness, including increases in interest rates and our ability to refinance our debt, and tax-related matters. More information about potential risks and uncertainties that could affect our business and results of operations is included in the "Risk Factors" and “Forward-Looking Statements” sections in our Quarterly Report on Form 10-Q filed with the SEC on November 5, 2025, in our Annual Report on Form 10-K filed with the SEC on February 20, 2025 and in our other filings with the SEC. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, outlook, guidance, results, actions, levels of activity, performance or achievements. Readers are cautioned not to place undue reliance on these forward-looking statements. Unless required by law, Sabre undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date they are made. Non-GAAP Financial Measures This presentation includes unaudited non-GAAP financial measures, including Adjusted Net Loss, Adjusted EBITDA, Adjusted EBITDA Margin, Normalized Adjusted EBITDA, Normalized Adjusted EBITDA margin, Adjusted Net Loss from continuing operations per share (“Adjusted EPS”), Free Cash Flow, and the ratios based on these financial measures. Normalized Adjusted EBITDA is Adjusted EBITDA adjusted for estimated costs historically allocated to Hospitality Solutions. In addition, we provide certain forward guidance and targets with respect to Adjusted EBITDA and Free Cash Flow, including on a pro forma basis. We are unable to provide this forward guidance and targets on a GAAP basis without unreasonable effort; however, see “Business Outlook and Financial Guidance” in the appendix for additional information including estimates of certain components of the non-GAAP adjustments contained in the guidance. We present non-GAAP measures when our management believes that the additional information provides useful information about our operating performance. Non-GAAP financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similar measures presented by other companies. The presentation of non-GAAP financial measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with GAAP. See “Non-GAAP Financial Measures” in the appendix for an explanation of the non-GAAP measures and “Tabular Reconciliations for Non-GAAP Measures” in the appendix for a reconciliation of the non-GAAP financial measures to the comparable GAAP measures. Discontinued Operations On April 27, 2025, we entered into a definitive purchase agreement with an affiliate of TPG (the “Buyer”) pursuant to which t he Buyer agreed to purchase our Hospitality Solutions business, and on July 3, 2025, we closed the sale (the “Hospitality Solutions Sale”). The assets and liabilities associated with the Hospitality Solutions Sale are presented as discontinued operations on our consolidated balance sheet as of December 31, 2024, and the operating results of our Hospitality Solutions business are presented as discontinued operations on our consolidated statements of operations for all periods presented. Unless otherwise noted, results presented are based on continuing operations. Pro Forma Financial Information We are providing certain financial information, including third quarter and full year 2025 financial outlook, on a pro forma basis to give effect to the sale of the Hospitality Solutions business, and we have removed the impact of the $227 million payment-in-kind interest that was recorded in conjunction with the refinancing activity in the second quarter of 2025. We believe this presentation will enhance investors’ ability to evaluate and compare the Company’s operations on a go-forward basis. Pro forma net leverage is calculated as gross debt minus cash, including net proceeds from the sale of Hospitality Solutions, divided by pro forma Adjusted EBITDA. Industry Data/Certain Definitions This presentation and accompanying comments contain industry data, forecasts and other information that we obtained from industry publications and surveys, public filings and internal company sources, and there can be no assurance as to the accuracy or completeness of the included information. Statements as to our ranking, market position, bookings share and market estimates are based on independent industry publications, government publications, third-party forecasts and management’s estimates and assumptions about our markets and our internal research. We have not independently verified this third-party information nor have we ascertained the underlying economic assumptions relied upon in those sources, and we cannot assure you of the accuracy or completeness of this information. Rounding Due to rounding, the numbers presented throughout this presentation may not add up precisely to the totals provided.
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Kurt Ekert President & CEO Mike Randolfi EVP & CFO Today's presenters
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©2025 Sabre GLBL Inc. All rights reserved. 4 Seized first-mover position with agentic APIs for travel Launched SabreMosaic Continuous Revenue Optimizer, industry-first AI–driven modular solution Digital Payments gross spend up ~40% YoY in Q3’25 Agency renewals and expansions, build upon new agency wins earlier this year; acceleration in air bookings volumes expected to continue during Q4’25 Leading competitive set with 41 live NDC integrations Q3’25 Normalized Adjusted EBITDA growth of 23% On-track for full-year Pro Forma Adjusted EBITDA growth of ~9% Positive Pro Forma Free Cash Flow of $13M, expect to generate ~$70M for full-year 2025 Repaid ~$825M of debt from the proceeds of the Hospitality Solutions sale Extended debt maturity runway, with ~60% of debt maturities beyond 2029 Expect to reduce YE25 pro forma net leverage by ~50% from YE23 Generate Free Cash Flow and Delever the Balance Sheet Drive Growth through Innovation Delivering on our strategic priorities RECENT ACHIEVEMENTS RECENT ACHIEVEMENTS Normalized Adjusted EBITDA and Free Cash Flow are non-GAAP measure. See slide 2 and appendix for a discussion of non-GAAP financial measures, including reconciliations to the most closely correlated GAAP measure. The information presented here represents forward-looking statements and reflects expectations as of November 5, 2025. Sabre assumes no obligation to update these statements. Refer to "Forward-looking statements" on Slide 2. Results may be materially different and are affected by many factors including those detailed in the accompanying release andin Sabre's Form 10-Q filed with the SEC on November 5, 2025.
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©2025 Sabre GLBL Inc. All rights reserved. 5 95M Total Distribution Bookings +3% YoY 81M Air Distribution Bookings +2% YoY $715M Revenue +3% YoY 182M Passengers Boarded +3% YoY 11M Hotel Distribution Bookings +6% YoY +103 bps attachment rate growth $150M Normalized Adjusted EBITDA +23% YoY Q3 2025 SUMMARY Business and financial results Normalized Adjusted EBITDA is a non-GAAP measure. See slide 2 and appendix for a discussion of non-GAAP financial measures, including reconciliations to the most closely correlated GAAP measure.
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©2025 Sabre GLBL Inc. All rights reserved. 6 1. As of October 31, 2025 2. Gross Booking Value is calculated by multiplying total room nights by the average daily rate (ADR) Hotel B2B Distribution 7% YOY GROWTH OF GROSS BOOKING VALUE (GBV)2 (~$20B in annualized GBV in Q3’25) Expand content to become the premier Business-to- Business lodging platform Distribution Expansion Expand customer-base through enhanced technology value proposition Digital Payments Provide simplified and integrated virtual payment capabilities ~$20B ANNUALIZED Q3 GROSS SPEND THROUGH THE PLATFORM (~40% YoY growth in Q3’25) 13 Become the industry leading airline Offer and Order retail platform ANNOUNCED LAUNCH OF CONTINUOUS REVENUE OPTIMIZER SABREMOSAIC TRAVEL MARKETPLACE INTELLIGENT RETAILING AND COMMERCE Driving growth through innovation Multi-Source Platform 41 LIVE NDC AGREEMENTS1 Deliver the most robust air content travel marketplace in the industry Airline IT YTD 2025 NOTABLE RENEWALS AND AGENCY WINS: Q1 2026 LAUNCH OF LCC PRODUCT
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©2025 Sabre GLBL Inc. All rights reserved. 7 Sabre Direct Pay A secure fintech solution for every stage in the travel journey Smoother customer pay-ins Flexible cross-border payouts Reduces payment risks Orchestration and reconciliation services Volumes: xyz +XX% PY Total Customers: xyz +XX% PY Annual Transactions: $20B +XX% Secure, compliant virtual card payments at scale Simplified procurement and accurate reconciliation Direct CRS/PMS hotel integration Connected Hotels: 150,000 +87.5% PY Fintech Marketplace Unified ecosystem with 150+ partners End to end fintech driving fast growth trajectory Conferma Trusted global payment gateway for all corporate spend Annualized Gross Spend: ~$20B YE25 Connected Hotels: ~100k
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©2025 Sabre GLBL Inc. All rights reserved. 8 Sabre is leading the evolution of AI in travel Agency digital travel assistant Airline digital travel assistant Custom chatbot Gen AI Travel content and capability provider for Gen AI platforms Sabre Model Context Protocol (MCP) server Agentic-ready APIs Agentic workforce Agentic APIs Agentic AI–ready APIs and middleware (MCP) Lodging cross-sell Travel agent email parser Dynamic pricing of airfare and ancillaries Conversational revenue management analyst Conversational analytics AI Optimization Sabre IQ is already available across offer, order and data suite products. Consumer LLMs Intent signals from Sabre Travel Data Cloud Agentic-ready APIs Sabre IQ leveraged Consumer LLM Platform integrated model
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©2025 Sabre GLBL Inc. All rights reserved. 9 20 The information presented here represents forward-looking statements and reflects expectations as of November 5, 2025. Sabre assumes no obligation to update these statements. Refer to "Forward-looking statements" on Slide 2. Results may be materially different and are affected by many factors including those detailed in the accompanying release and in Sabre's Form 10-Q filed with the SEC on November 5, 2025. Air distribution bookings outlook for remainder of 2025 Expected accelerating growth in Q4 2025, with momentum into 2026 EXPECTED QUARTERLY RAMP OF AIR DISTRIBUTION BOOKINGS GROWTH • On-track for positive YoY air distribution volume growth • Growth Strategies accelerating throughout the year with the largest component in 2025 being distribution expansion • Ended Q3’25 with strong September, +7% YoY • Broader travel environment shows signs of improvement, GDS improved sequentially from down 4% to down 1% in the quarter • Anticipate 2026 to benefit from growth strategies, Q1’26 LCC launch, and continued positive commercial momentum AIR DISTRIBUTION BOOKINGS Q1A Q2A Q3A Q4E -3% -1% Positive YoY Growth +2% +6% to +8%
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Mike Randolfi EVP & CFO
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Q3 2025 financial highlights Normalized Adjusted EBITDA, Normalized Adjusted EBITDA margin, and Free Cash Flow are non-GAAP measures. See slide 2 and the appendix for a discussion of non- GAAP financial measures, including reconciliations to the most closely correlated GAAP measure. The information presented here represents forward-looking statements and reflects expectations as of November 5, 2025. Sabre assumes no obligation to update these statements. Refer to "Forward-looking statements" on Slide 2. Results may be materially different and are affected by many factors including those detailed in the accompanying release and in Sabre's Form 10-Q filed with the SEC on November 5, 2025. $715M REVENUE +3% YoY $150M NORMALIZED ADJUSTED EBITDA +23% YoY 21% NORMALIZED ADJUSTED EBITDA MARGIN +340 bps YoY $683M CASH ON BALANCE SHEET End of Q3 EXPECT ~$800M ENDING CASH BALANCE AT YEAR-END Q3 financial results are presented to exclude the impact of discontinued operations, consistent with prior guidance methodology $13M PRO FORMA FREE CASH FLOW ©2025 Sabre GLBL Inc. All rights reserved.
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©2025 Sabre GLBL Inc. All rights reserved. 12 Normalized Adjusted EBITDA and Free Cash Flow are non-GAAP measures. See slide 2 and the appendix for a discussion of non-GAAP financial measures, including reconciliations to the most closely correlated GAAP measure. See slide 2 for information on Pro Forma amounts, including Free Cash Flow. Q3 2025 actual results versus guidance Low-to-mid single digit YoY growth $140M - $150M $40M - $50M Q3’25 Guidance Q3’25 Actual Revenue Normalized Adj. EBITDA Pro Forma Free Cash Flow $715M +3% YoY $150M +23% YoY $13M
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©2025 Sabre GLBL Inc. All rights reserved. 13 Focused on improving balance sheet and delevering DEBT MATURITY PROFILE • Paid off over $1B in debt using cash on the balance sheet and proceeds from the sale of Hospitality Solutions • Extended debt maturity runway, with ~60% of debt maturities beyond 2029 • Expect to reduce YE25 pro forma net leverage by ~50% from YE23 • Continue to be opportunistic and work to drive lower leverage NET DEBT MATURITY PROFILE $4.3B $3.5B Year End 2023 Estimated Year End 2025 (18%) ©2025 Sabre GLBL Inc. All rights reserved. See slide 2 for information on Pro Forma amounts. The information presented here represents forward-looking statements and reflects expectations as of November 5, 2025. Sabre assumes no obligation to update these statements. Refer to "Forward-looking statements" on Slide 2. Results may be materially different and are affected by many factors including those detailed in the accompanying release and in Sabre's Form 10-Q filed with the SEC on November 5, 2025.
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©2025 Sabre GLBL Inc. All rights reserved. 14 1. See slide 2 for information on Pro Forma amounts, including Free Cash Flow, Pro Forma Adjusted EBITDA and Free Cash Flow are non-GAAP measures. See slide 2 and the appendix, including “Business Outlook and Financial Guidance” for a discussion of non-GAAP financial measures. The information presented here represents forward-looking statements and reflects expectations as of November 5, 2025. Sabre assumes no obligation to update these statements. Refer to "Forward-looking statements" on Slide 2. Results may be materially different and are affected by many factors including those detailed in the accompanying release and in Sabre's Form 10-Q filed with the SEC on November 5, 2025. Q4 and FY 2025 pro forma guidance1 Air Distribution Volumes Revenue Pro Forma Adj. EBITDA Pro Forma CapEx Pro Forma Cash Interest Pro Forma Free Cash Flow Ending Cash Balance FY’25 Positive YoY growth Flat YoY growth ~$530M +9% YoY ~$80M ~$310M ~$70M ~$800M 6% to 8% YoY growth Low single digit YoY growth ~$110M +2% YoY N/A N/A ~$130M Q4’25 Prior FY’25 0.5% to 3.5% Flat to low single digit YoY growth ~$530M to ~$570M ~$80M ~$310M ~$100M to ~$140M
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Thank you
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APPENDIX
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©2025 Sabre GLBL Inc. All rights reserved. 17 We have included both financial measures compiled in accordance with GAAP and certain non-GAAP financial measures, including Adjusted Net Loss from continuing operations ("Adjusted Net Loss"), Adjusted EBITDA, Normalized Adjusted EBITDA, Adjusted EBITDA Margin, Normalized Adjusted EBITDA Margin, Adjusted EPS, Free Cash Flow and ratios based on these financial measures. We define Adjusted Net Loss as net income (loss) attributable to common stockholders adjusted for (income) loss from discontinued operations, net of tax, net (loss) income attributable to noncontrolling interests, acquisition-related amortization, restructuring and other costs, loss on extinguishment of debt, other, net, disposition-related costs, litigation costs, net, indirect tax matters, stock-based compensation, and the tax impact of adjustments. We define Adjusted EBITDA as income (loss) from continuing operations adjusted for depreciation and amortization of property and equipment, amortization of capitalized implementation costs, acquisition-related amortization, restructuring and other costs, interest expense, net, other, net, loss on extinguishment of debt, disposition-related costs, litigation costs, net, indirect tax matters, stock-based compensation and the provision for income taxes. We define Normalized Adjusted EBITDA and Pro Forma Adjusted EBITDA as Adjusted EBITDA adjusted for estimated costs historically allocated to Hospitality Solutions. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenue. We defined Normalized Adjusted EBITDA Margin as Normalized Adjusted EBITDA divided by revenue. We define Adjusted Net Loss from continuing operations per share and Adjusted EPS as Adjusted Net Loss divided by diluted weighted-average common shares outstanding. We define Free Cash Flow as cash used in operating activities less cash used in additions to property and equipment. We define pro forma Free Cash Flow as Free Cash Flow adjusted to give effect to the sale of the Hospitality Solutions business, and we have removed the impact of the $227 million payment-in-kind interest that was recorded in conjunction with the refinancing activity in the second quarter of 2025. These non-GAAP financial measures are key metrics used by management and our board of directors to monitor our ongoing core operations because historical results have been significantly impacted by events that are unrelated to our core operations as a result of changes to our business and the regulatory environment. We believe that these non-GAAP financial measures are used by investors, analysts and other interested parties as measures of financial performance and to evaluate our ability to service debt obligations, fund capital expenditures, fund our investments in technology transformation, and meet working capital requirements. We also believe that Adjusted Net Loss, Adjusted EBITDA, Normalized Adjusted EBITDA, Adjusted EBITDA Margin, Normalized Adjusted EBITDA Margin and Adjusted EPS assist investors in company-to-company and period-to-period comparisons by excluding differences caused by variations in capital structures (affecting interest expense), tax positions and the impact of depreciation and amortization expense. In addition, amounts derived from Adjusted EBITDA are a primary component of certain covenants under our senior secured credit facilities. Non-GAAP financial measures
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©2025 Sabre GLBL Inc. All rights reserved. 18 Adjusted Net Loss, Adjusted EBITDA, Normalized Adjusted EBITDA, Adjusted EBITDA Margin, Normalized Adjusted EBITDA Margin, Adjusted EPS, Free Cash Flow, and Pro Forma Free Cash Flow and ratios based on these financial measures are not recognized terms under GAAP. These non-GAAP financial measures and ratios based on them are unaudited and have important limitations as analytical tools, and should not be viewed in isolation and do not purport to be alternatives to net income as indicators of operating performance or cash flows from operating activities as measures of liquidity. These non-GAAP financial measures and ratios based on them exclude some, but not all, items that affect net income or cash flows from operating activities and these measures may vary among companies. Our use of these measures has limitations as an analytical tool, and you should not consider them in isolation or as substitutes for analysis of our results as reported under GAAP. Some of these limitations are: • these non-GAAP financial measures exclude certain recurring, non-cash charges such as stock-based compensation expense and amortization of acquired intangible assets; • although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect cash requirements for such replacements; • Adjusted EBITDA does not reflect amortization of capitalized implementation costs associated with our revenue contracts, which may require future working capital or cash needs in the future; • Adjusted Net Loss and Adjusted EBITDA do not reflect changes in, or cash requirements for, our working capital needs; • Adjusted EBITDA does not reflect the interest expense or the cash requirements necessary to service interest or principal payments on our indebtedness; • Adjusted EBITDA does not reflect tax payments that may represent a reduction in cash available to us; • Free Cash Flow removes the impact of accrual-basis accounting on asset accounts and non-debt liability accounts, and does not reflect the cash requirements necessary to service the principal payments on our indebtedness; and • other companies, including companies in our industry, may calculate Adjusted Net Loss, Adjusted EBITDA, Normalized Adjusted EBITDA, Adjusted EBITDA Margin, Normalized Adjusted EBITDA Margin, Adjusted EPS or Free Cash Flow differently, which reduces their usefulness as comparative measures. Non-GAAP financial measures
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©2025 Sabre GLBL Inc. All rights reserved. 19 The non-GAAP pro forma financial outlook in this press release, including pro forma Adjusted EBITDA and pro forma Free Cash Flow, is not necessarily indicative of the operating results of the Company after closing of the Hospitality Solutions Sale and utilization of the net proceeds from the sale to pay down outstanding indebtedness, or of the operating results of the Company in the future. The non-GAAP pro forma financial outlook included in this press release is not pro forma information prepared in accordance with Article 11 of Regulation S-X of the SEC, and the preparation of information in accordance with Article 11 would result in a different presentation. Non-GAAP pro forma outlook
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©2025 Sabre GLBL Inc. All rights reserved. 20 Tabular reconciliation for Normalized Non-GAAP measures The following table reconciles our previously reported consolidated adjusted results by income statement line item to normalized adjusted results from continuing operations by line item. Adjustments represent (1) the impact of classifying Hospitality Solutions as a discontinued operations in accordance with GAAP and (2) normalizing adjustments to remove expenses previously allocated to Hospitality Solutions that do not meet the GAAP definition for discontinued operations reporting. We believe that Normalized Adjusted EBITDA provides useful information to investors because it is an indicator of the performance of our ongoing business operations and allows for congruent comparisons period over period. Amounts are preliminary and subject to final close. (1) Adjustments represents the impact of classifying Hospitality Solutions as a discontinued operation in accordance with GAAP and a normalizing adjustment to remove costs previously allocated to Hospitality Solutions but do not meet the GAAP definition for discontinuedoperations reporting.
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©2025 Sabre GLBL Inc. All rights reserved. 21 The Company is providing the quarterly and full year 2025 outlook included below on a pro forma basis to give effect to the sale of the Hospitality Solutions business, and we have removed the impact of the $227 million of payment-in-kind interest that was recorded in conjunction with the refinancing activity in the second quarter of 2025, from pro forma Free Cash Flow. Pro forma adjustments include the impact of classifying Hospitality Solutions as a discontinued operation in accordance with GAAP and an adjustment to remove costs previously allocated to Hospitality Solutions, but that do not meet the GAAP definition for discontinued operations reporting. We believe this presentation will enhance investors' ability to evaluate and compare the Company's operations on a go-forward basis. With respect to the fourth quarter and full-year 2025 financial outlook below: • Fourth quarter Pro Forma Adjusted EBITDA guidance consists of expected net loss from continuing operations of approximately $56 million; less impact of acquisition-related amortization of approximately $8 million; expected stock-based compensation expense of approximately $11 million; expected depreciation and amortization of property and equipment and amortization of capitalized implementation costs of approximately $19 million; expected interest expense, inclusive of issuance costs and debt discounts, net of approximately $109 million; expected income tax provision of approximately $8 million; less expected pro forma adjustments of approximately $10 million associated with costs previously allocated to Hospitality Solutions. • Fourth quarter Pro Forma Free Cash Flow guidance consists of the expected cash from continuing operations operating activities of approximately $150 million less expected additions to property and equipment of approximately $20 million. • Full-year Pro Forma Adjusted EBITDA guidance consists of expected net loss from continuing operations of approximately $210 million; less impact of acquisition-related amortization of approximately $31 million; expected stock-based compensation expense of approximately $46 million; expected depreciation and amortization of property and equipment and amortization of capitalized implementation costs of approximately $74 million; expected interest expense, inclusive of issuance costs and debt discounts, net of approximately $441 million; expected loss on extinguishment of debt, foreign exchange, and other expenses of approximately $81 million; expected provision for income taxes of approximately $29 million; less expected pro forma adjustments of approximately $37 million associated with costs previously allocated to Hospitality Solutions. • Full year Pro Forma Free Cash Flow guidance consists of the expected usage of cash from continuing operations operating activities of approximately $99 million, less expected additions to continuing operations property and equipment of approximately $80 million, and expected pro forma adjustments of approximately $249 million, of which $227 million represents payment-in-kind interest that was recorded in conjunction with the refinancing activity in the second quarter of 2025 and the remainder represents adjustments associated with costs previously allocated to Hospitality Solutions and other estimated impacts of the divestiture. Business and financial pro forma financial outlook
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©2025 Sabre GLBL Inc. All rights reserved. 22 Tabular reconciliations for Non-GAAP measures Reconciliation of net loss attributable to common stockholders to Adjusted Net Loss from continuing operations and loss from continuing operations to Adjusted EBITDA: (in thousands, except per share amounts; unaudited)
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©2025 Sabre GLBL Inc. All rights reserved. 23 Tabular reconciliations for Non-GAAP measures
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©2025 Sabre GLBL Inc. All rights reserved. 24 Non-GAAP footnotes (1) Net income (loss) attributable to noncontrolling interests represents an adjustment to include earnings allocated to noncontrolling interests held in (i) Sabre Travel Network Middle East of 40%, (ii) Sabre Seyahat Dagitim Sistemleri A.S. of 40%, (iii) Sabre Travel Network Lanka (Pte) Ltd of 40% through June 30, 2025, (iv) Sabre Bulgaria of 40%, and (v) FERMR Holdings Limited (the direct parent of Conferma Limited) of 19%. (2) Depreciation and amortization expenses: (a) Acquisition-related amortization represents amortization of intangible assets from the take-private transaction in 2007 as well as intangibles associated with acquisitions since that date. (b) Depreciation and amortization of property and equipment includes software developed for internal use as well as amortization of contract acquisition costs. (c) Amortization of capitalized implementation costs represents amortization of upfront costs to implement new customer contracts under our SaaS and hosted revenue model. (3) Other, net includes $10 million of TSA income in the current year period, a gain on the sale of assets of $5 million recognized in the current year period and a fair value loss from our investments in securities of $3 million recognized in the prior year period. In addition, all periods presented include non-operating gains and losses as well as foreign exchange gains and losses related to the remeasurement of foreign currency denominated balances included in our consolidated balance sheets into the relevant functional currency. (4) Restructuring and other costs primarily represents charges related to the Hospitality Solutions Sale in the current year period and adjustments to charges associated with the cost reduction plan we began implementing in the second quarter of 2023, in the prior year period. (5) Disposition-related costs represent fees and expenses incurred associated with disposition-related activities. (6) Litigation costs, net represent charges associated with antitrust litigation. (7) Indirect tax matters represents charges associated with certain digital services taxes ("DST") related to historical periods, which may ultimately be settled in cash, and certain foreign non-income tax litigation matters. (8) The tax impact of adjustments includes the tax effect of each separate adjustment based on the statutory tax rate for the jurisdiction(s) in which the adjustment was taxable or deductible, and the tax effect of items that relate to tax specific financial transactions, tax law changes, uncertain tax positions, valuation allowances and other items. (9) The Adjusted diluted weighted-average common shares outstanding calculation excludes 1 million of dilutive stock options and restricted stock awards and approximately 33 million resulting common shares related to the Exchangeable Notes for the three months ended September 30, 2025, as their effect would be anti-dilutive given the net loss incurred in the period.