#1Saturn Loun MONDEE THE FUTURE OF TRAVEL, NOW Investor Presentation June 2023#2Safe Harbor Statement (Under the Private Securities Litigation Reform Act of 1995) MONDEE Forward-Looking Statements This presentation contains forward-looking statements that reflect the current views of management of the Company with respect to, among other things, its operations, its financial performance, its industry and its business. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believe(s)," "expect(s)," "potential," "continue(s)," "may," "will," "should," "could," "would," "seek(s)," "predict(s)," "intend(s)," "trends," "plan(s)," "estimate(s)," "anticipates," "projection," "will likely result" and or the negative version of these words or other comparable words of a future or forward-looking nature. Such forward- looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. For additional information on the factors that could cause Mondee's actual results to differ materially from expected results, please see the section titled "Risk Factors" in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q filed with the SEC, which are incorporated by reference therein, as the same may be updated from time to time by our subsequent filings. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. Market and Industry Data This presentation includes market and industry data and forecasts that the Company has derived from independent consultant reports, publicly available information, various industry publications, other published industry sources, and its internal data and estimates. Independent consultant reports, industry publications and other published industry sources generally indicate that the information contained therein was obtained from sources believed to be reliable. Although the Company believes that these third-party sources are reliable, it does not guarantee the accuracy or completeness of this information, and the Company has not independently verified this information. The Company's internal data and estimates are based upon information obtained from trade and business organizations and other contacts in the markets in which the Company operates and management's understanding of industry conditions. Although the Company believes that such information is reliable, it has not had this information verified by any independent sources. Non-GAAP Measurements In addition to disclosing financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this presentation and the accompanying tables include adjusted EBITDA non-GAAP net income, and non-GAAP EPS. These non-GAAP financial measures are not calculated in accordance with GAAP as they have been adjusted to exclude the effects of stock-based compensation expenses, provision for income taxes, and the impacts of depreciation and amortization. We define Adjusted EBITDA as net loss before depreciation and amortization, provision for income taxes, interest expense (net), other income net, stock-based compensation, and gain on forgiveness of PPP loans. Non-GAAP net income (loss) is defined as net loss before the impacts of amortization of intangibles, provision for income taxes, stock-based compensation, and one time items. Non-GAAP net income (loss) per share is defined as non-GAAP net income (loss) on a per share basis. See "Reconciliation of GAAP to Non-GAAP Financial Measures" for a discussion of the applicable weighted-average shares outstanding. We believe these non-GAAP financial measures provide investors and other users of our financial information consistency and comparability with our past financial performance and facilitate period-to-period comparisons of our results of operations. With respect to adjusted EBITDA and non-GAAP net loss/ income, we believe these non-GAAP financial measures are useful in evaluating our profitability relative to the amount of revenue generated, excluding the impact of stock-based compensation expense and other one-time expenses. We also believe non-GAAP financial measures are useful in evaluating our operating performance compared to that of other companies in our industry, as these metrics eliminate the effects of stock-based compensation, which may vary for reasons unrelated to overall operating performance. We use these non-GAAP financial measures in conjunction with traditional GAAP measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, and to evaluate the effectiveness of our business strategies. Our definition may differ from the definitions used by other companies and therefore comparability may be limited. In addition, other companies may not publish this or similar metrics. Thus, our non-GAAP financial measures should be considered in addition to, not as a substitute for, nor superior to or in isolation from, measures prepared in accordance with GAAP. These non-GAAP financial measures may be limited in their usefulness because they do not present the full economic effect of our use of stock-based compensation. We compensate for these limitations by providing investors and other users of our financial information a reconciliation of the non-GAAP financial measure to the most closely related GAAP financial measures. However, we have not reconciled the non-GAAP guidance measures disclosed under "Financial Outlook" to their corresponding GAAP measures because certain reconciling items such as stock-based compensation and the corresponding provision for income taxes depend on factors such as the stock price at the time of award of future grants and thus cannot be reasonably predicted. Accordingly, reconciliations to the non-GAAP guidance measures is not available without unreasonable effort. We encourage investors and others to review our financial information in its entirety, not to rely on any single financial measure and to view non-GAAP net loss/ income and non-GAAP net loss/ income per share in conjunction with net loss and net loss per share. Trademarks This presentation may contain trademarks, service marks, trade names and copyrights of other companies, which are the property of their respective owners. Solely for convenience, some of the trademarks, service marks, trade names and copyrights referred to in this presentation may be listed without the TM, SM O or ® symbols, but Mondee will assert, to the fullest extent under applicable law, the rights of the applicable owners, if any, to these trademarks, service marks, trade names and copyrights. © 2023 All Rights Reserved | 2#3We Have Built a Proven C-Suite Team Aligned to Execute Our Vision Executive team with 125+ years of combined experience in the travel and hospitality industry Prasad Gundumogula Chairman, Chief Executive Officer, and Founder Serial entrepreneur. Founder of Metaminds, Explore Trip, LogixCube, POD Technologies with successful exits Jim Dullum Chief Operations Officer Experienced travel and technology executive and entrepreneur. Former EDS (an HP company), BTI Americas, Citicorp Yuvraj Datta Chief Commercial Officer Experienced travel executive focused on supplier and revenue management, Skylink Orestes Fintiklis Vice Chairman and Chief Corporate Strategy and Business Development Officer Founder and Managing Director of Ithaca Capital. Former CEO of ITHAX Acquisition Corp. Kymber Lowe Chief Marketing Officer Experienced marketing executive. Former Microsoft, Amazon, Lifelock, and VISA Geetika Gupta Chief People Officer Experienced global talent management and organizational development executive, Accenture MONDEE Jesus Portillo Chief Financial Officer Experienced global CFO. Former WPP, ThriveDX, Illumno Venkat Pasupuleti Chief Technology Officer Experienced CTO and entrepreneur. Former Avesta, Zoom Interview, Eze Technologies Meredith Waters General Counsel Experienced corporate attorney. Former Apple Inc., Kirkland & Ellis LLP © 2023 All Rights Reserved | 3#4Enabling the Modern Travel Ecosystem Airlines Content Suppliers Discounted Content Long-term Contracts Real-time Pricing Data RMS Integration HOTEL Hoteliers Wholesalers 500+ Airlines 1M+ Hotels, Vacation Rentals, Rental Cars Ancillary Providers ¹As of May 31, 2023. Inclusive of Management estimates MONDEE Software S Fintech One of the Largest in North America Wholesale Airfare¹ 80% International Leisure Experiential 0+ Travel Experts Content Consumers Access to Curated Supply Modern Tech Platform SaaS Tools to Operate Efficiently Significant Cost Savings MONDEE Corporations AA SMB SMB's & Nonprofits ~60K B2B Customers¹ 125M+ Closed User Group Access¹ Consumers © 2023 All Rights Reserved | 4#5We Are Disrupting the Massive Global Assisted / Affiliated Travel Market Mondee's gross revenue total addressable market is primarily the $1T and growing assisted/affiliated travel market Self Service • Good GUIS • Retail Prices • Low Tech No Touch Metasearch trivago KAYAK Airline, Hotel, Car Rental Sites Marriott. ADELTA OTAS →Expedia® Booking.com Global Travel Spending:~$2.1T (2023E) ¹Based on management estimates. Sources: PhocusWright, IBIS, Management Estimates ~$1.0T 49% Mix ~$1.1T 51% Mix MONDEE ~50/50 business / leisure mix¹ ~50/50 domestic / international mix¹ Many users transact on both sides Ma SMB Travel Agencies Clubs & Closed User Groups Gig Economy Workers SMBs & Businesses Travel Management Companies (TMCs) Assisted/Affiliated Poor GUIS ● MONDEE • Legacy Low Tech • High-Touch Service © 2023 All Rights Reserved | 5#6A Leading B2B2C Tech Platform to Travel Ecosystem Suppliers Airlines Fal Hoteliers Wholesalers O Ancillary Providers ● Legacy Distribution Technology Platforms 20 1140 141 14-8 a 920/ OF 1110 125 wa AND A BENEDE BEDE COMANDXXXX 124 cca 20 19 OCA COMAND CHANXX COMAND COMAND COMAND*XXX COMAND-XXXX... COMAND... xxxx 22 Travel Agent Incomplete content (e.g., no low-cost carriers, no alternative accommodations) Text-based; not extendable to mobile Lack of modern messaging capabilities Credit-card focused for payments Inability to link search results and marketing messaging Mondee helps suppliers optimize inventory and utilize excess capacity ● ● ● De Thee sbiors www.P Boere LOT M450 Mondee's Platform United Airlines Ⓒa Lot Polish Airlines 9- w art WW: 1250 SOM WAN 12:50 PM SPOLO Macak Ay Fcc USD $459 75 Select Select 3 dien P ar Flight Time L Comprehensive global content Modern user experience, extendable to mobile HA u S Tayo pus 2011 Full suite of communication tools - integrated phone, email, SMS, and chat Fintech platform, tailored to the travel market Multi-channel marketing platform MONDEE Consumers Travel Agents Corporations SMB's & Nonprofits AA SMB Consumers (subscription members) Mondee helps customers modernize technology, gain access to broader content and narrowcast their distribution © 2023 All Rights Reserved | 6#7Pre-Pandemic Record of Rapid Growth and Market Share Expansion Mondee is building on a track record of exponential profitable growth, disruptive market penetration and delivering on key operating metrics since launching its initial modern operating system. $3B Gross Sales through the Marketplace 40% & 62% Organic & Inorganic CAGR's, 2015-2019 • 2019: $171m Organic + Inorganic Revenues • 2019: $40m Adjusted EBITDA • 50M Daily Searches, 5.4M air transactions ● • 23% Adjusted EBITDA Margin 2019 Hotel, Car, Cruise, Ancillary Expansion ● Acquisitions Organic Growth MONDEE founded 2011 TRIPPRO Launch¹ 25 2015 Market share² (%) 1.9 48 2016 62% CAGR, incl. M&A 40% Organic CAGR 54 Net Revenue ($Millions) 75 2017 2018 2.4 170 77 93 2019 2.2 3.5 2.4x Market share growth Sources: Mondee financials, PhocusWright ¹In conjunction with the launch of Trip Pro, Prasad Gundumogula led a management buyout of the business and became CEO 2Market share defined as Mondee's gross revenue as a proportion of gross revenues generated from B2B airfares for the North American market 3Midpoint of 2023 guidance 4.6 ↑ 69 93 2020 2021 2019 $70b NA wholesale Airfare market MONDEE 159 243 2022 2023E © 2023 All Rights Reserved | 7#8We Have a Compelling Economic Model with Diversified Revenue Streams Pre COVID 2022 LT Target Nă International Travel Recovery¹ (Especially China) 69% 100% ¹Source: OAG.com, relative to 2019 Take Rate ~4-5% 7.4% Double Digits Air Transaction Mix Consumer Economics Markup ~50% 100% ~80% Net Revenue Mix Supplier Economics Commissions GDS/NDC Fintech Ancillaries MONDEE No Inventory Risk No Supplier Concentration No Customer Concentration Diversified Revenues Strong Network Effects Subscriptions © 2023 All Rights Reserved | 8#9The Gig Traveler is Setting the Pace for Social Commerce in Travel NEEDS & REQUIREMENTS INTERMEDIARIES & DISTRIBUTION SOLUTIONS: PRODUCTS AND SERVICES Pre-2000s Aggregated Content Accessibility to inventory Pricing/Fare Transparency Travel Affiliates Boomers SMES, Corporate Personal Computing Travel Agents Managed Travel Electronic Web Payment 2010s Gen X Price Sensitive Self-Service Support Search-based Content Online Cloud Privacy 2020s "Bleisure" Groups Online Support Self Travel Millennials Gig Economy Workers ced Mobile MONDEE Gig Traveler Personalization Experiential Content Influencers, Cohorts Cost-Sensitive Return-to-Travel Al & Machine Learning Shifting Influence Levels 2025s TE Gen Z Real-Time, Always On Curated Content Multi-Tasker/Role Functionality Home-Based Agents Member-Based Travel Conversational Commerce MONDEE Social Commerce © 2023 All Rights Reserved | 9#10The Next Mondee Frontier Includes the Full Suite of B2B2C Travel Tech Tools Enterprise Travel Software Platform CRM / SaaS for Travel Managers Virtual Cards In-House Clearing Platform L.S $ Fintech Software MONDEE MONDEE Mobile Super App Experiential Monetization for Travel Experts 丑 User-Generated Content 09 Self-Service Travel Essential Modern Travel Platform for Experts, Travelers, & Enterprises MONDEE © 2023 All Rights Reserved | 10#11We Are Unlocking Multiple B2B2C Growth Drivers Market Gain Market Share Air Hotels Car Rentals International Travel Recovery Nă China and other markets MONDEE New Content & Technology Experiential Content K Cruises Tours Concerts/Events Enhanced Monetization Fintech Digital Cards Subscriptions Additional Geographies LATAM India Europe New Distribution Social Commerce Local Experts Influencers Gig Economy Inorganic Growth Content Technology Distribution Social Commerce MONDEE © 2023 All Rights Reserved | 11#12We Have a Demonstrated Track Record of Recovery and Product Expansion FOUNDATIONAL ACQUISITIONS CONTENT: AIR $25M DISTRIBUTION: TRAVEL AGENTS GEOGRAPHIES: 2011-2014 TRIPPRO NORTH AMERICA OUTBOUND 1Pro Forma for 2019 and 2020 acquisitions. 21Q23 TTM. Note: Figures denote Net Revenues LAUNCHED MODERN TECH PLATFORM $170M¹ 2015-2018 $93M EXPANSION ACQUISITIONS 2019 Tripplanet LAUNCHED CLOSED USER GROUP BRAND HOTELS & CAR RENTAL GIG ECONOMY SMBs & MEMBER ORGANIZATIONS 2020 Nasdaq: MOND CRUISES & THEME PARKS PUBLICLY LISTED ON NASDAQ 2021 INFLUENCERS INTERNATIONAL OUTBOUND 2022 $170M² 2023 MONDEE ALL TRAVEL CONTENT CLOSED GROUPS GLOBAL TRANSFORMATION © 2023 All Rights Reserved | 12#13Proven Ability to Execute On Synergistic Acquisitions Mondee has been successful in executing and maximizing the value of acquisitions, regardless of market conditions 1 2 3 4 2011 FOUNDATIONAL ACQUISITIONS Skylink One of the largest North American consolidator serving India Exploretrip Retail flight business and technology platform cFares Metasearch engine C&H One of the largest North American consolidator serving Asia 5 6 7 2012 2013-18 TransAm One of the largest North American wholesaler serving South America and the South Pacific Hariworld Consolidator focused on the Middle East and Southeast Asia Aavan Vacations Tour company with extensive content 1 2 3 4 2019 EXPANSION ACQUISITIONS LBF Travel Retail travel company with extensive call center operations Hotelwiz Hotel content hub Bookingwiz Marketing and ad platform for travel Avia Travel Travel club platform 5 6 7 2020 2021-22 Cosmopolitan Travel Services One of the largest and fastest growing North American wholesaler Leto Travel Canadian consolidator Rocketrip Corporate travel incentives platform 2 3 MONDEE THIRD WAVE OF ACQUISITIONS 2023+ Orinter Brazil and LATAM hotel, Air, transportation wholesaler Consolid Mexico hotel, Air, transportation wholesaler Interep Brazil luxury hotel, Air, transportation wholesaler Content Technology Distribution © 2023 All Rights Reserved | 13#14Mondee M&A Strategy and H1 2023 Acquisitions Rationale Accelerate Organic Growth Synergies Accretive Valuation MONDEE M&A Strategy Expanding presence in key markets Accelerating organic growth Delivering synergies Transacting at accretive valuations • Unique product, distribution and tech • Faster than developing components internally Realizing revenue and cost synergies Acquiring companies that improve Mondee's metrics at accretive valuations ORINTER A MONDEE COMPANY Acquisition ✓ Expand content and distribution in Brazil and Latin America ✓Natural expansion to Mondee's North American footprint ✓ Access to Orinter's direct hotel contacts ✓Leverage Orinter's distribution of 4,800+ travel experts ✓Cross Selling opportunities ✓ Revenue and cost synergies through the deployment of Mondee's superior tech ✓Orinter enjoys 13% take rate and 30% EBITDA margin ✓Purchase price of ~$40 million implies multiple of ~4X Orinter's 2022 EBITDA of $9.3 million interep Acquisition VIAJAR ESTÁ NOS DETALHES ✓ Expand luxury content and distribution in Brazil and Latin America ✓Natural expansion to Mondee's geographic footprint ✓ Access to Interep's direct hotel contacts ✓Leverage Interep's local expertise and distribution of 3,100 active travel experts ✓Cross Selling opportunities ✓ Revenue and cost synergies through the deployment of Mondee's superior tech ✓ Interep enjoys 9.5% take rate and 28% EBITDA margin ✓Purchase price of $8.9 million implies multiple of 3.2X Interep's 2022 EBITDA of $2.8 million CONSOLID México MONDEE Acquisition ✓ Expand content and distribution in Mexico and Latin America ✓Natural expansion to Mondee's geographic footprint ✓ Access to Consolid's direct hotel contacts ✓Leverage Consolid's local expertise and distribution of 1,000 customers globally ✓Cross Selling opportunities ✓ Revenue and cost synergies through the deployment of Mondee's superior tech ✓Consolid generated adjusted EBITDA of $1M+ in 2022 ✓Purchase price of approximately $4 million, implies an EBITDA multiple of 4X © 2023 All Rights Reserved | 14#15HR Financial Overview etBlue G#162022 Financial Highlights $2.1B | 125% Gross Revenue and Growth¹ 2.1M+ Transactions All figures as of and for the year ended December 31, 2022, unless otherwise noted 1 2022 Compared with 2021 $159M | 71% Net Revenue and Growth¹ 2 As a percentage of net revenue 3 Please refer to the Appendix of this presentation for non-GAAP reconciliation tables. 7.4% Take Rate $12M | 7% Adjusted EBITDA MONDEE and Adjusted EBITDA Margin2,3 ($16M | 10% EBITDA including deferred items³) 1,330 bps Adjusted EBITDA Margin Expansion ¹,3 (1,570 bps including deferred items³) © 2023 All Rights Reserved | 16#17First Quarter 2023 Financial Highlights ~$700M | 46% Gross Revenue and Growth¹ 665K+ Transactions All figures as of and for the quarter ended March 31, 2023 unless otherwise noted 11Q23 Compared with 1022 ~$50M | 28% Net Revenue and Growth¹ 2 As a percentage of net revenue 3 Please refer to the Appendix of this presentation for non-GAAP reconciliation tables. 7.1% Take Rate MONDEE ~$4M | 8% Adjusted EBITDA and Adjusted EBITDA Margin2,3 230 bps Adjusted EBITDA Margin Expansion ¹,3 © 2023 All Rights Reserved | 17#18We Accelerated Our Growth Despite Slower Market Recovery in International Travel Annual Gross Revenue ($ millions) $1,658 2019 $450 2020 CAGR: 118% $951 2021 $2,142 2022 Average Net Revenue Per Transaction (ARPT) ($) $27 2019 Take Rate Improvements $65 2020 $71 2021 MONDEE $75 2022 © 2023 All Rights Reserved | 18#19Driving Towards Growing Profitability Adjusted EBITDA and Margin4 ($ millions) 14% 23%¹ $40¹ $13 (37%) (6%) ($5) 7%² $122 18%³ $43 3 ($24) 2020 2019 2021 2022 2023E ¹ Represents EBITDA and margin pro-forma of acquisitions done in 2019 and 2020. 2$16 million and 10% margin including deferred items, see Appendix of this presentation for non-GAAP reconciliation tables 3 Midpoint of 2023 guidance 4 Please refer to the Appendix of this presentation for non-GAAP reconciliation tables Drivers of Margin Expansion Market Share Gain Take Rate Expansion Operating Leverage MONDEE Fintech & Subscription Products Disciplined, Accretive M&A © 2023 All Rights Reserved | 19#20We are Supported by Improving Operating Leverage Cash Based Opex as % of Net Revenue: 92% Annual Cash Based Opex ($ millions) $86 2019 Personnel 154% $102 2020 MONDEE Sales & Marketing 1 Excludes stock-based compensation expense of $17K, $15K, $4M, and $62M in 2019, 2020, 2021, and 2022, respectively. 2 Also excludes a one-time $2.1 million restructuring expense. G&A 120% $112 2021 Information Technology Other 101% $161 2022² MONDEE © 2023 All Rights Reserved | 20#21Long-Term Model ($ millions) Take Rate Net Revenue YOY Growth Sales, Marketing and Other Expenses Adjusted EBITDA % Margin 2019A 5.5% $93 24% 59% $13 14% 2022A 7.4% $159 71% 72% $12 ($16 including deferred items¹) 7% (10% including deferred items¹) 2023E² $243 52% $42.5 18% 1 See bridge in slide 27 and Form 8-K filed on April 10, 2023 2 These long-term targets are forward-looking, are subject to significant business, economic, regulatory and competitive uncertainties and contingencies, many of which are beyond the control of the Company and its management, and are based upon assumptions with respect to future decisions, which are subject to change. Actual results will vary and those variations may be material. Nothing in this presentation should be regarded as a representation by any person that these objectives will be achieved and the Company undertakes no duty to update its objectives as circumstances change. Long-Term Target² Double-digit 30%+ MONDEE 30%+ © 2023 All Rights Reserved | 21#22Balance Sheet Summary ($ millions, except share numbers) Cash, Cash Equivalents and Restricted Short-Term Investments Total Debt Redeemable Preferred Stock Common Shares Outstanding March 31, 2023 $67.3 (includes $8.8 in restricted cash and short-term investments) $150.8 (includes $8.4 of current portion of LTD) $85.0 83,748,712 MONDEE © 2023 All Rights Reserved | 22#23We Are a Travel Market Leader with a Superior Combination of Growth and Margin 2024E Revenue Growth + 2024E EBITDA Margin 58% MONDEE 53% AMADEUS 49% airbnb Source: Wall Street estimates via FactSet as of 5/12/23 47% Trip.com 45% BOOKING HOLDINGS 37% make my trip 35% AMERICAN EXPRESS GLOBAL BUSINESS TRAVEL 32% ao Tripadvisor 31% e expedia group MONDEE 29% Rule of 40 Sabre © 2023 All Rights Reserved | 23#24Key Investment Highlights $ # 13 Disrupting the Massive Global Travel Market Next-Gen Travel Tech Platform Significant Barriers to Entry Multiple Levers of Growth Proven Leadership Team Profitable Growth with Expanding Margins MONDEE © 2023 All Rights Reserved | 24#25HR etBlue Appendix G#26Chairman's Message Mondee's first quarter 2023 ("1Q23") accomplishments in key areas were marked by ... Prasad Gundumogula Chairman, Chief Executive Officer, and Founder Delivered Strong 1023 Results, Despite International Travel only ~82% Recovered • Gross revenue of ~$700 million, 146% of first-quarter 2022 (1Q22's) $463 million. . Ne revenue of ~$50 million, 128% of 1Q22. Adjusted EBITDA¹ of $4 million, 180% of 1Q22. ● Strengthened Leadership • Welcomed Jesus Portillo as Chief Financial Officer. Jesus has more than 20 years of financial experience leading global acquisition integration and implementing Sarbanes-Oxly Act controls and procedures at WPP PLC (a public company) and most recently as Global CFO of ThriveDX. Welcomed Meredith Waters as General Counsel. Meredith has 15 years of corporate law experience, most recently as Senior Legal Counsel at Apple Inc and previously as attorney at Kirkland & Ellis LLP. Consolid, Interep, and Orinter Acquisitions, Began Third Wave of Acquisitions ● MONDEE • In January 2023 acquired Orinter for ~4X 2022 adjusted EBITDA. • In May 2023 acquired Consolid and Interep for approximately ~4X and ~3X 2022 adjusted EBITDA. Expanded footprint in Brazil, Mexico, and broader Latin America. ● Launched Mondee Affiliate Network & Tissini Partnership • In January 2023, launched influencer and affiliate network to increase distribution and reach. • Tissini is using this program for its 55K Hispanic women to become travel gig workers. Market Share Growth • Rollout of Affiliate program (e.g., Club Orinter) and marketing focus on LATAM, Europe and India. . Continue to benefit from China/Asia ramp-up. 1 Please refer to the Appendix of this presentation for non-GAAP reconciliation tables. 2 Excluding contingent earn-outs. © 2023 All Rights Reserved | 26#27Travel Industry Update Mondee is well positioned in the current macro environment with 80% North America outbound international travel, mostly leisure. $ Ec 1Q23 North America domestic air ~100%¹ recovered to 2019 levels, international only ~82%.1 $ Industry wide labor shortages persist, impacting air and hotel supply as well as prices. However, there are signs of moderation and expect this to reverse within 2023. v China reopened for in-bound travel in January 2023, which provides ongoing tailwind. Supply is expected to expand with airline fleet and hotel property additions. For example, Air India and United's recent purchase of hundreds of new aircraft. Gen Zs and Millennials now represent largest travel purchasing and influence. New social media driven curation capabilities are required in travel marketplaces to meet this demand. Recession fears and lingering higher prices may impact both operating costs and business demand in the short to medium term. 10AG.com 2022 vs 2019 cumulative international scheduled air seats as of 3/31/2023 MONDEE © 2023 All Rights Reserved | 27#28Bridge¹ (in $ thousands) Preliminary, Unaudited adj. EBITDA (February 28, 2023) Supplier contract renegotiation (2) Chargeback recoveries (3) Other adjustments(4) Audited adj. EBITDA (Form 10-K) Deferred items Supplier contract renegotiation (2) Chargeback recoveries (3) Total adj. EBITDA Three months ended December 31, 2022 $5,441 (2,768) (989) (93) 1,591 ¹See Form 8-K filed on April 10, 2023 2,768 989 5,348 Twelve months ended December 31, 2022 15,731 (2,768) (989) (93) 11,881 2,768 989 15,638 (2) Gain realized from renegotiation of supplier agreement in 2022 as per US GAAP to be recorded in future periods and the remaining life of the agreement in question. (3) (4) Anticipated recovery from credit card chargebacks deferred to the future point in time when the funds are physically recovered. Certain other operating expense adjustments, such as marketing and allowances for doubtful accounts. MONDEE © 2023 All Rights Reserved | 28#29Post-Nasdaq-Listing Capital Structure Improvements Raised $85M of Preferred Equity Growth Capital announced on 9/29/22 Purchased 12M $ $ Public Warrants via Tender Offer Process announced on 10/21/22 Enables Mondee to execute aggressive M&A strategy Limits potential dilution and simplifies capital structure Use of proceeds Cash on Balance Sheet to Support Organic Growth Plans 100% of public warrants retired Creates value for common shareholders MONDEE Working Capital and FinTech optimization Focuses long-term investors attention on the common equity © 2023 All Rights Reserved | 29#30Mondee Leverages its Content Flywheel & Tech Platform to Revolutionize Social Travel Ability to Customize tët Social Commerce Mobile First Enabling Gig Economy in Travel Expert-Based Community Model MONDEE | One-Stop Shop ««• Access to Experts MONDEE High Quality Experiences Pre-Curated Offering © 2023 All Rights Reserved | 30#31Without Mondee, Booking a Curated Trip is a Never Ending Headache Air Lodging SEAT GEEK Lufthansa UNITED tkts TURKISH AIRLINES StubHub Tickets Vividseats DELTA Emirates 99 In RESY OpenTable thefork a Tripadvisor company Reservations tock airbnb HILTON WORLDWIDE Viator HYATT D Marriott Tours By LOCALS AVIS TURO Budget Hertz GET YOUR GUIDE KLOOK enterprise Car Rental Tours/ Experiences MONDEE The average person searches 20+ sites when planning a curated trip © 2023 All Rights Reserved | 31#32Board of Directors with Diverse Experience Mondee's Board of Directors with diverse and extensive experiences in public companies. Prasad Gundumogula Chairman, Chief Executive Officer, and Founder Orestes Fintiklis Vice Chairman and Chief Corporate Strategy and Business Development Officer Roopa Purushothaman Chief Economist, Head of Policy Advocacy, Tata Sons Private Limited Asi Ginio Co-Founder, Former CPO, COO, CEO, Tourico Holidays Inc. Noor Sweid Founder, General Partner, Global Ventures MONDEE Mona Aboelnaga Kanaan Managing Partner, K6 Investments LLC Pradeep Udhas Co-Founder, Senior Advisor, KPMG India © 2023 All Rights Reserved | 32#33Reconciliation of GAAP to Non-GAAP Financial Measures (In $ thousands, except Transactions and per share data) (unaudited) KEY METRICS Transactions Take rate Net revenue Yo Y Growth QoQ Growth ADJUSTED EBITDA RECONCILIATION Net income (loss) Interest expense (net) Stock-based comp exp Depreciation & amortization Restructuring expense Changes in fair value of Warrant liability Legal expense Income tax provision Gain on forgiveness of PPP loan Warrant transaction expense M&A costs Other expenses (income), net Sale of export incentives Adjusted EBITDA Adjusted EBITDA margin Deferred items Supplier contract renegotiation² Chargeback recoveries3 Total Adjusted EBITDA Total Adjusted EBITDA margin 1Q22 2Q22 462,931 549,729 8.2% 6.8% 39,067 190% 17% 1Q22 (6,991) 6,102 80 2,817 151 2,213 5.7% 42,650 81% 9% 236 (2,009) (915) 3Q22 591,760 6.6% 4,509 10.6% 39,466 73% (7)% 2Q22 3Q22 4Q22 (2,113) (64,608) (16,526) 7,129 55,236 2,963 2,130 6,467 74 2,769 6,319 6,652 3,221 412 (683) 791 744 (484) 321 1,080 4Q22 FY22 1Q23 533,110 2,137,530 665,173 7.5% 7.4% 7.1% 3,568 9.0% 38,301 15% (3)% 326 T (624) 760 1,591 4.2% 2,768 989 5,348 14.0% 159,484 71% FY22 (90,238) 26,017 62,042 11,770 2,542 108 744 127 (2,009) 326 (308) 760 11,881 7.4% 2,768 989 15,638 9.8% 49,929 28% 30% 1Q23 (13,285) 7,870 2,561 3,352 1,529 21 662 1,103 495 (322) 3,986 8.0% MONDEE © 2023 All Rights Reserved | 33#34Reconciliation of GAAP to Non-GAAP Financial Measures ADJUSTED NET INCOME RECONCILIATION Net Income (loss) Stock-based comp exp Amortization - intangibles Income tax provision One-time expenses Adjusted Net Income (Loss) Deferred items Supplier contract renegotiation² Chargeback recoveries³ Total Adjusted Net Income (Loss) ADJUSTED EPS RECONCILIATION Net income (loss) Common shares outstanding GAAP EPS Adjusted net income (loss) (In $ thousands, except Transactions and per share data) (unaudited) Diluted shares outstanding Adjusted EPS Total adjusted net income (loss) Diluted shares outstanding Total adjusted EPS 1Q22 (6,991) 80 1,584 168 (5,105) 1Q22 (6,991) 60,800 (0.11) (5,105) 94,600 (0.05) 2Q22 (2,113) 74 1,584 236 (2,683) (2,902) 3Q22 (64,608) 55.236 1,584 321 4Q22 (16,526) 6,652 1,586 (484) 1,674 2,885 (5,793) (5,887) 2Q22 3Q22 (64,608) (2,113) 60,800 72,500 (0.03) (0.89) (2,902) (5,793) 94,600 94,600 (0.03) (0.06) 2,768 989 (2,130) FY22 (90,238) 62,042 6,338 127 2,044 (19,687) 2,768 989 (15,930) 4Q22 FY22 (16,526) (90,238) 82,266 69,092 (1.31) (0.20) (5,887) (19,687) 83,866 91,917 (0.21) (0.07) (2,130) (15,930) 83,866 91,917 (0.03) (0.17) 1Q23 (13,285) 2,561 1,584 1,103 2,535 (5,502) 1Q23 (13,285) 83,749 (0.16) (5,502) 83,749 (0.07) MONDEE © 2023 All Rights Reserved | 34