FLT: FY25 Full Year Result Presentation August 27, 2025 1 | FLT For personal use only SPEAKERS & PRESENTATION SECTIONS Greg Parker CEO – Supply Chris Galanty CEO – Corporate James Kavanagh CEO – Leisure Adam Campbell Global CFO & CEO – Global Business Services Results & Highlights (Section 1) Corporate Overview (Section 2) Leisure Overview (Section 3) Outlook (Section 4) Q&A Graham "Skroo" Turner Global MD & CEO 2 | FLT For personal use only Our Why COMPANY PURPOSE To open up the world for those who want to ...

Labubu toys packaging are seen at a souvenir store in Krakow, Poland on August 21, 2025.Even Confucius is getting in on China's "blind box" craze.At the main temple in Beijing to China's greatest sage, the souvenir shops sell a range of "blind boxes," gifts packaged in such a way that buyers don't know exactly what variety of the item they're purchasing until after they commit.One popular blind box at the store is an ice cream treat with a blessing from Confucius. Worshippers pay $4.50 and, only after unwra ...

Core Insights - CLEAR has expanded its TSA PreCheck enrollment and renewal locations to over 190 Staples retail stores across the U.S., enhancing consumer access to these services beyond airports [1][2][3] - The partnership with Staples, initiated in 2024, aims to simplify the enrollment and renewal process for travelers, making it more convenient [1][3] - CLEAR plans to continue expanding its presence in Staples locations throughout 2025, further increasing accessibility for consumers [2][3] Company Overview - CLEAR is an authorized TSA PreCheck enrollment provider with a mission to enhance security and create frictionless experiences for its members [9] - The company has over 33 million members and a growing network of partners, transforming how people travel and interact with services [9] - TSA PreCheck is a program under the Department of Homeland Security that allows expedited screening for low-risk travelers, with over 22 million active members as of now [8] Partnership Details - The collaboration with Staples allows TSA PreCheck enrollment at more than 190 locations in various cities, making it easier for consumers to access these services [4][1] - Staples supports this initiative by providing travel essentials and services, aiming to reduce the stress associated with travel preparation [3][10] Consumer Benefits - TSA PreCheck members enjoy expedited security screening, allowing them to keep shoes, belts, and light jackets on, and typically wait less than 10 minutes at security checkpoints [5][8] - The expansion of enrollment locations is expected to enhance the overall travel experience for consumers by providing more convenient access to TSA PreCheck services [2][3]

Group 1 - Travelzoo announces the release of Club Offers for Club Members in Germany, targeting travel enthusiasts [1] - The company claims to reach 30 million travelers and provides offers personally reviewed by deal experts [1] - Offers include significant savings, such as up to 69% off on hotel stays and various luxury experiences [2] Group 2 - Specific offers highlighted include a 2-night stay in Rome for €99, a 5-star hotel in Kos for €699, and a 4-night stay at Lake Garda for €249 [2] - Additional offers feature a €50 deal for 3 nights in Bad Füssing with thermal spa access and a design hotel near Berlin's Ku'Damm for €50 [2] - The company emphasizes partnerships with top travel suppliers to access exclusive deals [1]

Core Points - CLEAR is enhancing the affordability and accessibility of TSA PreCheck® enrollment through a limited-time promotion, offering a Buy One, Get One $15 Off deal for families enrolling together [1][2][3] - The Families on the Fly campaign aims to streamline the travel experience for families, featuring dedicated family-friendly security lanes and enrollment promotions [3][4] - CLEAR is also participating in the Serve with Honor, Travel with Ease initiative, providing discounted TSA PreCheck® fees for military spouses and free enrollment for Gold Star families [5] Company Initiatives - The promotion runs until October 31, 2025, allowing new applicants to save $15 on the second person's TSA PreCheck® enrollment fee when enrolling together [2][4] - CLEAR emphasizes the convenience of TSA PreCheck®, which allows travelers to keep shoes, belts, and light jackets on during security checks, enhancing the overall travel experience [6][7] - The TSA PreCheck® program has grown to over 22 million members since its launch in December 2013, with expedited screening available at over 200 airports [7][8] Additional Information - CLEAR's mission focuses on strengthening security while creating frictionless experiences for travelers, with over 33 million members and a commitment to privacy [8][9] - The company encourages families to enroll together to take advantage of the promotional discount, highlighting the ease of the enrollment process [4][6]

Core Points - CLEAR is enhancing the affordability and accessibility of TSA PreCheck® enrollment through a limited-time promotion, offering a Buy One, Get One $15 Off deal for families enrolling together [1][2][3] - The Families on the Fly campaign by TSA aims to simplify travel for families, featuring dedicated family-friendly security lanes and enrollment promotions [3][4] - CLEAR is also participating in the Serve with Honor, Travel with Ease initiative, providing discounted TSA PreCheck® fees for military spouses and free enrollment for Gold Star families [5] Company Initiatives - The promotion runs until October 31, 2025, allowing new applicants to save $15 on the second person's TSA PreCheck® enrollment fee when enrolling together [2][4] - CLEAR emphasizes the importance of TSA PreCheck® in improving the airport experience by allowing travelers to keep shoes, belts, and light jackets on during security checks [6][7] - CLEAR's mission focuses on enhancing security while creating seamless travel experiences, with over 33 million members and a growing network of partners [8][9] Industry Context - TSA PreCheck® is a Trusted Traveler program under the Department of Homeland Security, facilitating expedited screening for low-risk travelers, with over 22 million active members since its launch in December 2013 [7] - The program is available at over 200 airports and involves more than 90 participating airlines, highlighting its widespread adoption and relevance in the travel industry [7]

Financial Data and Key Metrics Changes - In Q2 2025, net revenues increased by 15% year over year to RMB134.9 million, with revenues from packaged tours growing by 26% [19][6] - Gross profit for Q2 2025 was up 2% year over year, while operating expenses increased by 58% year over year [20][21] - Net income attributable to ordinary shareholders was reported, with non-GAAP net income also provided [22] Business Line Data and Key Metrics Changes - Revenues from packaged tours accounted for 84% of total net revenues, primarily driven by growth in offline tours and self-drive tours [19] - Other revenues decreased by 21% year over year to RMB21.5 million, mainly due to reduced advertising service fees [20] - Transaction volume for New Tour and New Select products grew by over 25% year over year, with Kokuso products seeing a 150% increase [11][12] Market Data and Key Metrics Changes - Domestic tours contributed about two-thirds of total GMV, while outbound tours accounted for one-third [26] - Key outbound destinations included Europe, Japan, and the Middle East, all showing double-digit growth, while Southeast Asia experienced a decline of roughly 30% [26] - Emerging destinations like South America and the Caucasus saw growth rates exceeding 50% and 100%, respectively [26] Company Strategy and Development Direction - The company is focusing on enhancing its supply chain and expanding its range of offerings to meet diverse customer needs [6][10] - Tuniu is leveraging new sales channels such as live streaming and offline stores, with live streaming's contribution to total transaction volume rising from over 15% to nearly 20% [14] - The company aims to refine products and services based on shifts in customer behavior and preferences, particularly during peak travel seasons [15] Management Comments on Operating Environment and Future Outlook - Management noted robust performance in the travel sector, driven by strong consumer demand during holiday periods [5] - The company expects net revenue growth of 7% to 12% in Q3 2025, with a focus on achieving profitability again [29] - Management highlighted the importance of adapting to changing customer habits and preferences, particularly for summer vacation bookings [28] Other Important Information - The company continues to explore AI applications to enhance customer experience and operational efficiency [15] - Cash flow generated from operations for Q2 2025 was RMB46 million, with capital expenditures reported at RMB1 million [22] Q&A Session Summary Question: Can management share the revenue breakdown by destinations for this quarter? What destinations drove the growth of packaged tour revenues? - Management reported that domestic destinations achieved double-digit growth, with outbound tours growing faster than domestic tours. Europe, Japan, and the Middle East all posted double-digit growth, while Southeast Asia declined by roughly 30% [25][26] Question: Can you provide more details about the bookings in the summer vacation? - Management noted significant demand during the peak season, particularly from families with children. Domestic city tours, especially in cities with museums and theme parks, were popular. For outbound travel, double-digit growth was observed in Japan, Europe, and certain islands, while Singapore and Malaysia gained popularity despite challenges in Southeast Asia [28][29]

Financial Data and Key Metrics Changes - In the second quarter of 2025, net revenues increased by 15% year over year to RMB134.9 million, with revenues from packaged tours growing by 26% [17][5] - Gross profit for the quarter was up 2% year over year, while operating expenses increased by 58% year over year [19][20] - Net income attributable to ordinary shareholders was reported, with non-GAAP net income also provided, excluding share-based compensation expenses [21] Business Line Data and Key Metrics Changes - Revenues from packaged tours accounted for 84% of total net revenues, primarily driven by growth in offline tours and self-drive tours [17] - Other revenues decreased by 21% year over year to RMB21.5 million, mainly due to reduced advertising service fees [18] - Transaction volume for New Tour and New Select products grew by over 25% year over year, with Kokuso products seeing a growth of over 150% year over year [10][11] Market Data and Key Metrics Changes - Domestic tours contributed about two-thirds of total GMV, while outbound tours accounted for one-third, with Europe being the top outbound destination [26] - Emerging destinations like South America and Sri Lanka saw growth rates exceeding 50% and 100% respectively, while Southeast Asia experienced a decline of roughly 30% [26] - Live streaming's contribution to total transaction volume rose from over 15% to nearly 20% [13] Company Strategy and Development Direction - The company is focusing on enhancing its supply chain and expanding its range of offerings to meet diverse customer needs [5][7] - Tuniu is leveraging new sales channels such as live streaming and offline stores, which have contributed to a broader customer base [6][13] - The company aims to refine its products and services in response to shifts in customer behavior and preferences, particularly during peak travel seasons [14] Management's Comments on Operating Environment and Future Outlook - Management noted strong consumer demand during holiday periods, contributing to robust performance in the travel sector [4] - The company expects net revenue growth of 7% to 12% in the third quarter, driven by increased demand during the summer vacation [30] - Management highlighted the importance of adapting to changing customer habits and preferences, particularly in the context of outbound travel [29] Other Important Information - The company continues to explore AI applications to enhance customer experience and operational efficiency [14] - Cash flow generated from operations for the quarter was RMB46 million, with capital expenditures reported at RMB1 million [21] Q&A Session Summary Question: Can management share the revenue breakdown by destinations for this quarter? - Packaged tour revenue increased by 26% year over year, with domestic destinations achieving double-digit growth and outbound tours growing faster [25][26] Question: Can you provide more details about the bookings in the summer vacation? - Demand has significantly increased during the peak season, particularly from families with children, with domestic city tours being popular [28][30]

Group 1 - Travelzoo announces the release of Club Offers for its members in the U.S., providing rigorously vetted travel deals [1] - The company claims to reach 30 million travelers, offering exclusive deals reviewed by global deal experts [1] - Travelzoo partners with thousands of top travel suppliers, leveraging long-standing relationships to access attractive offers [1] Group 2 - Specific offers include a $599 Ireland vacation package, a $999 luxury getaway in Mexico, and up to 75% off stays in the Hamptons [2] - Other highlighted deals feature a $499 trip to Paris and a $399 all-inclusive Caribbean vacation [2]

Core Insights - Travelzoo announces new Club Offers for travel enthusiasts in the UK, featuring various travel deals and discounts [1][2] Group 1: Club Offers - £799 per person for a 5-star holiday in Dubai, including direct flights and a stay at a luxury resort [1] - £99 for city breaks across the UK, with discounts of up to 54% at boutique Malmaison hotels [1] - £29 for half-price afternoon tea for two at 13 rural retreats in England and Wales, saving 50% off the usual price [1] - £1049 per person for a 14-night Caribbean cruise, averaging less than £75 per night [1] - £169 for a two-night stay in a restored 18th-century Lisbon townhouse with panoramic views [1] Group 2: Company Overview - Travelzoo reaches 30 million travelers and offers Club Members deals personally reviewed by deal experts [2] - The company partners with thousands of top travel suppliers, leveraging long-standing relationships to provide exclusive offers [2]