#14022 Earnings Conference Call March 16, 2023 Masak#2DISCLAIMER This presentation includes forward-looking statements. We have based these forward-looking statements largely on our current beliefs, expectations and projections about future events and financial trends affecting our business and our market. Some of the factors, risks and uncertainties that might materially affect the forward-looking statements contained herein and may make an investment in our securities speculative or risky include, but are not limited to, the following: the ongoing COVID-19 pandemic is disrupting the global economy and the travel industry, and consequently adversely affecting our business, results of operations and cash flows, and it is difficult to predict the full extent of the impact that the pandemic will have on our Company; we are subject to the risks generally associated with doing business in Latin America and risks associated with our business concentration within this region; general declines or disruptions in the travel industry may adversely affect our business and results of operations; our business and results of operations may be adversely affected by macroeconomic conditions; we are exposed to fluctuations in currency exchange rates; if we are unable to maintain or increase consumer traffic to our sites and our conversion rates, our business and results of operations may be harmed; our business could be negatively affected by changes in search engine algorithms and dynamics or other traffic-generating arrangements; we operate in a highly competitive and evolving market, and pressure from existing and new companies, as well as consolidation within the industry, may adversely affect our business and results of operations; if we are unable to maintain existing, and establish new, arrangements with travel suppliers, our business may be adversely affected; we rely on the value of our brands, and any failure to maintain or enhance consumer awareness of our brands could adversely affect our business and results of operations; we rely on information technology, including third-party technology, to operate our business and maintain our competitiveness, and any failure to adapt to technological developments or industry trends, including third-party technology, could adversely affect our business; we are subject to payments-related fraud risk; any system interruption, security breaches or lack of sufficient redundancy in our information systems may harm our business; our ability to attract, train and retain executives and other qualified employees, particularly highly-skilled IT professionals, is critical to our business and future growth; our business depends on the availability of credit cards and financing options for consumers; internet regulation in the countries where we operate is scarce, and several legal issues related to the internet are uncertain; acquisitions could present risks and disrupt our ongoing business; we may not be able to consummate acquisitions or other strategic opportunities in the future; we are a foreign private issuer under U.S. securities regulations and, as a result, we will not be subject to U.S. proxy rules and will be subject to Exchange Act reporting obligations that, to some extent, are more lenient and less frequent than those of a U.S. issuer; and the strategic interests of our significant shareholders may, from time to time, differ from and conflict with our interests and the interests of our other shareholders. We operate in a competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this presentation. In particular, the COVID-19 pandemic, and governments' extraordinary measures to limit the spread of the virus, are disrupting the global economy and the travel industry, and consequently adversely affecting our business, results of operation and cash flows and, as conditions are uncertain and changing rapidly, it is difficult to predict the full extent of the impact that the pandemic will have or when travel will resume to pre-pandemic levels.. The words "believe," "may," "should," "aim," "estimate," "continue," "anticipate," "intend," "will," "expect" and similar words are intended to identify forward-looking statements. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, capital expenditures, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects of competition. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or to revise any forward-looking statements after the date of this presentation because of new information, future events or other factors, except as required by law. In light of the risks and uncertainties described above, the future events and circumstances discussed in this presentation might not occur or come into existence and forward-looking statements are thus not guarantees of future performance. Considering these limitations, you should not make any investment decision in reliance on forward-looking statements contained in this presentation. This presentation includes industry, market and competitive position data and forecasts that we have derived from independent consultant reports, publicly available information, industry publications, official government information, other third-party sources and our internal data and estimates. Independent consultant reports, industry publications and other published sources generally indicate that the information contained therein was obtained from sources believed to be reliable. The inclusion of market estimations in this presentation is based upon information obtained from third-party sources and our understanding of industry conditions. Although we believe that this information is reliable, the information has not been independently verified by us. Trademarks and service marks appearing in this presentation are the property of their respective holders. This presentation includes preliminary financial information which is subject to year-end audit and adjustment. 2#3Strongest Post-COVID EBITDA Through a Disciplined Focus on Profitable Growth Key Messages 1. 5. 2. O Weak 40'22 results, due to unfavorable travel industry demand trends, followed by strong Q1'23 3. 4. O Healthy Take Rate drives revenue generation, leading to strongest post COVID EBITDA of $12.5 M O Profitability enables continued investments in strategic initiatives, reinforcing Despegar's leadership position Well-positioned to generate profitable long-term growth and margin expansion O Valuation discount provides attractive entrypoint 3#41. GB Up 10% YoY, Despite Demand Weakness Across Markets, Particularly International Travel; Substantial Sequential Rebound in Jan & Feb 2023 Gross Bookings ($M) A- 300 250 200 150 100 50 0 450 400 350 300 250 200 150 100 50 0 600 500 400 300 200 100 0 11 4021 II 4021 1Q22 4021 1Q22 1022 ||| 2Q22 2022 3Q22 ||| 2022 3Q22 4Q22 3Q22 4Q22 4022 O QoQ decrease in GB, mainly due to lower domestic air transactions, in line with profit-taking strategy ASPS +40% YoY and +47% vs 4019 levels 4022 travel industry demand at 100% of 4Q19 O GBs stable QoQ, and +44% YOY, as we continued to invest to further strengthen our brand awareness O ASPs +38% YoY to 110% of 4019 4Q22 travel industry demand at 79% of 4019 O GB -7% QoQ, in line with weakness across the region, specifically for international travel O ASPS +23% YoY and +22% vs 4019 levels 4#51 2. Second Highest Take Rate of 2022 Drives 17% YoY Increase in Revenues Revenue ($ M) vs Take Rate (%) 13.0% 14.0% Take Rate 11.4% 145.6 Gross Profit 91.9 53.7 124.6 4Q19 70.8 4Q19 4Q21 1Q22 2Q22 3Q22 4Q22 2 Cost of Revenue ($ M) vs Gross Profit 53.8 112.4 4Q21 69.9 42.6 12.0% 13.0% 13.8% 1Q22 134.4 89.3 -16% 45.2 145.6 2Q22 145.5 95.2 +6% 100.6 50.3 3Q22 44.9 4Q22 +17% Revenues +17% YoY to $145.5 M, and in line with pre-covid levels despite industry recovery at only 80% Second highest Take Rate of the year at 13.8%, as we maintained focus on profit taking, specifically in Mexico and Argentina As reported CoR declined 16% YoY, significantly below 17% revenue growth Gross Profit continues increasing, surpassing 4019 levels by 10% and up 6% QoQ Second highest 4Q gross profit in corporate history 5#61 G&A + T&PD ($M) 42.3 18.7 23.6 2. Operating Expenses remain stable QoQ 4019 38.2 19.5 18.7 4Q21 44.3 20.7 23.5 1Q22 48.4 21.4 27.0 2Q22 G&A T&PD 47.7 22.8 24.9 3Q22 51.1 25.0 26.1 4Q22 Fixed costs +34% YoY, mainly due to integration of Viajanet as well as FX and inflation pressures 2 G&A + T&PD (%Rev & %GB ) 16.2% Includes 12.8% $2.4 mn Viajanet one timer 1.8% 1.5% 4Q19 15,0% 15.7% 1.9% 2.0% 4Q21 20.9% 18.4% 2.9% 2.6% 1022 <- G&A (% Rev) G&A (% GB's) 20.1% 15.9% 2.4% 1.9% 2Q22 17.1% 15.7% 2.2% 2.1% 3Q22 17.9% 17.2% 2.5% 2.4% 4022 T&PD (% Rev) T&PD (% GB'S) As % of GBs, G&A and T&PD increased YOY by 52 bps and 33 bps respectively, as Company integrated Viajanet operations and experienced demand weakness across markets 3 Sales & Marketing ($M) 49.6 4Q19 34.6 4Q21 30.5 1Q22 42.2 2Q22 46.2 3Q22 S&M expenses +34% YoY and stable QoQ 46.2 4Q22 Maintained tactical investments in certain markets during 4022 6#71 2. Continuous Margin Expansion throughout 2023 Leads to Adjusted EBITDA of $12.5 M in 4Q'22 Quarterly Adj. EBITDA Evolution ($M) 8.3 25.6 9.0 FY 19 4Q-21 4Q-19 2 FY Adj. EBITDA Evolution ($M) 18.3 FY 21 6.8 -43.6 1Q-22 +51% 10.6 2Q-22 41.9 FY'22 EBITDA as reported * 12.0 3Q-22 Koin 12.5 4Q-22 60.2 FY'22 EBTIDA excl. Koin Continuous EBITDA Expansion Adj EBITDA increased further to $12.5 M, the fifth consecutive positive quarter and+39% from $9.0 M a year ago Strongest post COVID Adj. EBITDA as well as +51% vs 4Q19 Touristic Business Drives Profitability With an industry recovery of - 80% vs 2019 levels, our touristic business generated FY'22 Adj. EBITDA of $60.2 M, the third - highest in corporate history *Unaudited results subject to change 7#83. Continue Diversifying Sources of Revenues While Maintaining Customer Centric Approach Focus Areas 5571 B Revenue Diversification Multichannel Customer Focus Objectives Packages (% of GB) GB weight MEX + BRA B2B as % of total GB App share of total (% transactions) # of Loyalty Members (M) % of point redemptions NPS post Trip 4Q19 22% 51% 5% 28% 0.3 0% 67.2% 4Q21 29% 48% 6% 30% 0.7 2% 58.7% 4Q22 31% 56% 12% 34% 12.1 5% 65.1% 8#94. Despegar: Well-Positioned to Generate Profitable Long Term Growth and Margin Expansion; Initiates FY23 Financial Outlook + Favorable Market Dynamics Leading OTA In a large, underpenetrated, growing and fragmented market Leveraged by Core Competencies SIGNIFICANT SCALE STRONG BRAND PORTFOLIO DYNAMIC CULTURE HIGHLY SCALABLE PLATFORM DEEP LOCAL UNDERSTANDING Customer Centric Strategy AFFORDABLE + COMPLETE TRIP + OMNICHANNEL A Superior, Scalable and Replicable Business Model, allowing DESP to deliver... 2023 Financial Outlook* ($Mn) Revenues 640 - 700 80 - 100 Adj. EBITDA *Assumes industry to recover to 90% of 2019 levels by YE23 9#10In Summary F Transitory Weakness in Travel Demand in 4022 O Travel demand recovers in 1023 across region Strong Take Rate Drives Revenue 13.8% Take Rate, +79 bps YoY Revenues +17% YoY to $145.5 M Cementing Leadership position in LATAM... ...through Scale, Targeted Investments, Innovation and Diversification iTo $12.5 million Adjusted EBITDA O Fifth consecutive quarter of positive Adjusted EBITDA O Healthy Touristic Business Drives Profitability Looking Ahead Strong recovery trends observed throughout 1022 O FY23 Financial Guidance 10#11Q&A 4022 Earnings Conference Call 11#12THANK YOU! CONTACT INVESTOR RELATIONS Luca Pfeifer +57 315 3824802 [email protected] 12#13Appendix 13#14Trends in Key Financial & Operating Metrics (in thousands U.S. dollars, unless otherwise stated) FINANCIAL RESULTS Total Revenue Cost of revenue Gross profit Operating expenses Selling and marketing General and administrative Technology and product development Impairment of long-lived assets Total operating expenses (Loss) / Gain from equity investments Operating (loss) / Income Financial result, net Loss before income taxes Income tax (benefit) / expenses Net loss Net income attributable to non controlling interest Net loss attributable to Despegar.com, Corp Total Adjusted EBITDA 1021 $51,850 30,092 21,758 15,382 20,148 17,460 5,106 58,096 376 (35,962) (1,309) (37.271) 292 (37,563) $180 (37,383) ($20,024) 2021 $63,069 38,429 24,640 19,188 22,696 18,344 60,228 (348) (35,936) (1,835) (37,771) (6.413) (31,358) $258 (31,100) ($22,256) 3021 $83,368 37,953 45,415 26,138 22,162 19,432 67,732 (29) (22,346) (3,254) (25,600) (1.654) (23,946) $273 (23,673) ($10,346) 4021 $124,556 53,765 70,791 34,582 18,689 19,508 72,779 343 (1.645) (3.809) (5,454) 7,545 (12,999) $526 (12,473) $9,002 1022 $112,414 42,558 69,856 30,517 23,523 20,735 74,775 117 (4,802) (7.023) (11,825) 19,093 (30,918) (30,918) $6,787 2022 $134,421 45,149 89,272 42,214 27,037 21,407 90,658 16 (1.370) (10,529) (11,899) 1,266 (13,165) (13,165) $10,594 3022 $145,596 50,305 95,291 46,174 24,873 22,834 93,881 (105) 1,305 (15,359) (14,054) (4,767) (9.287) (9,287) $12,015 4022 $145,542 44,897 100,645 46,245 26,092 25,015 97,352 (192) 3,101 (12,543) (9.442) 5,717 (15,159) (15,159) $12,525 14#15Trends in Key Financial & Operating Metrics (in thousands U.S. dollars and thousand transactions, unless otherwise stated) KEY METRICS Operational Gross bookings - YoY growth TPV Financial Serivces - YoY growth Number of transactions - YoY growth Air - YoY growth Packages, Hotels & Other Travel Products - YoY growth Revenue per transaction - YoY growth Air - YoY growth Packages, Hotels & Other Travel Products - YoY growth ASPS - YoY growth 1021 $369,170 (53%) 3,018 1,211 (40%) 655 (46%) 573 (30%) $42.2 13% $25.5 (16%) $61.4 29% $301 (23%) 2021 $488,761 899% 2,559 1,290 523% 639 318% 692 1181% $47.4 (201%) $32.5 914% $60.2 (132%) $367 55% 3021 $656,957 297% 7,555 416% 1,827 207% 999 155% 827 307% $45.7 131% $32.0 102% $61.3 125% $360 30% 4021 $957,041 138% 17,279 226% 2,257 79% 1,277 88% 1,021 76% $54.2 28% $38.2 36% $73.2 24% $417 31% 1022 $799,475 117% 20,293 572% 1,956 61% 1,015 55% 941 64% $57.5 36% $43.0 69% $71.9 17% $411 37% 2022 $1,113,473 128% 22,472 778% 2,193 70% 1,129 77% 1,033 49% $61.3 29% $47.2 45% $76.2 27% $511 39% 3022 $1,104,608 68% 17,830 136% 2,208 21% 1,122 12% 1,063 29% $65.9 44% $52.0 62% $79.7 30% $503 40% 4022 $1,053,429 10% 15,092 (13%) 1,959 (13%) 1,027 (20%) 925 (9%) $74.3 37% $58.0 52% $91.3 25% $539 29% 15#16Unaudited Consolidated Balance Sheets (in thousands U.S. dollars) ASSETS Current assets Cash and cash equivalents Restricted cash Trade accounts receivable, net of credit expected loss Loan receivables, net Related party receivable Other current assets and prepaid expenses Total current assets Non-current assets Other assets and prepaid expenses Loan receivables, net Lease right-of-use assets Property and equipment net Intangible assets net Goodwill Total non-current assets TOTAL ASSETS As of December 31, 2022 219,167 25,879 147,806 15,385 10,676 46,193 465,106 69,784 1,185 22,428 15,532 91,500 138,637 339.066 804,172 As of September 30, 2022 222,682 40,397 121,171 15,042 16,603 37,075 452,970 77,619 1,349 23,278 16,802 91,109 134,512 344,669 797,639 LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities Accounts payable and accrued expenses Travel suppliers payable Related party payable Short-term debt Deferred Revenue Other liabilities Contingent liabilities Lease Liabilities Total current liabilities Non-current liabilities Other liabilities Contingent liabilities Long term debt Lease liabilities Related party liability Total non-current liabilities TOTAL LIABILITIES Series A non-convertible preferred shares Series B convertible preferred shares. Mezzanine Equity SHAREHOLDERS' DEFICIT Common stock Additional paid-in capital Other reserves Accumulated other comprehensive loss Accumulated losses Treasury Stock Total Shareholders Deficit Attributable to Despegar.com Corp TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS DEFICIT As of December 31, 2022 58,024 287,834 37,472 29,931 23.348 113,794 7,982 6,081 564,466 20,845 30,593 5,119 17,151 125,000 198,708 763.174 121,449 46,700 168,149 287,553 323,705 (728) (16,091) (643,323) (78,267) (127,151) 804,172 As of September 30, 2022 51.926 282,354 41,395 25,373 21,059 85,522 16.714 6,174 530,517 39,842 24,589 8,023 17,747 125,004 215,205 745,722 114,354 46,700 161,054 285,014 334,518 (728) (21,509) (628,165) (78,267) (109,137) 797,639 16