#1Q1 FY 2022 Investor Presentation May 4, 2022 a Tripadvisor#2Forward-Looking Statements. Our presentation today, including the slides contained herein, contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts or guarantees of future performance and are based on management's assumptions and expectations, which are inherently subject to difficult to predict uncertainties, risks and changes in circumstances. The use of words such as "intends," "expects," "may," "believes," "should," "seeks," "intends," "plans," "potential," "will," "projects," "estimates," "anticipates," or similar expressions generally identify forward-looking statements. However, these words are not the exclusive means of identifying such statements, and any statements that refer to expectations, beliefs, plans, predictions, projections, forecasts, objectives, assumptions, models, illustrations, profiles or other characterizations of future events or circumstances are forward-looking statements, including without limitation statements relating to future revenues, expenses, margins, performance, profitability, cash flows, net income/(loss), earnings per share, growth rates and other measures of results of operations (such as adjusted EBITDA) and future growth prospects for Tripadvisor's business. Actual results and the timing and outcome of events may differ materially from those expressed or implied in the forward-looking statements for a variety of reasons, including, among others, those discussed in the "Risk Factors" section of our Annual Report on Form 10-K. Except as required by law, we undertake no obligation to update any forward-looking or other statements in this presentation, whether as a result of new information, future events or otherwise. Investors are cautioned not to place undue reliance on forward-looking statements. Non-GAAP Measures. This presentation also includes discussion of both GAAP and non-GAAP financial measures. Important information regarding Tripadvisor's definitions and use of these measures, as well as reconciliations of the non-GAAP financial measure to the most directly comparable GAAP financial measure are included in the earnings release reporting our first quarter 2022 financial results and supplemental financial information, which are available on the Investor Relations section of our website: www.tripadvisor.com, and in the "Non-GAAP Reconciliations" section of this document. These non-GAAP measures are intended to supplement, and are not a substitute for comparable GAAP measures. Investors are urged to consider carefully the comparable GAAP measures and reconciliations. Industry / Market Data. Industry and market data used in this presentation have been obtained from industry publications and sources as well as from research reports prepared for other purposes. We have not independently verified the data obtained from these sources and cannot assure you of the data's accuracy or completeness. 2#3We are a global travel guidance company Tripadvisor helps travelers around the world unleash the full potential of every trip 3#4The world's largest travel platform Large global audience for differentiated travel content (1) ‒‒‒ ol 463M avg. monthly unique visitors in 3Q19 (2) ~70% % of users on mobile 1B reviews and opinions 331M candid traveler photos 43 markets Tripadvisor's global travel platform dvisor content audience 00 to travel Audience Tripadvisor community drives content (1) Tripadvisor internal log files; unless otherwise noted, all numbers as of Q1 2022 (2) Tripadvisor internal log files (3) Includes approximately 1.6M hotels, inns, B&Bs, and specialty lodging, as well as approximately 640,000 rental listings Significant supply footprint across a spectrum of travel products (1) 官 D Ô 2.2M Accommodations (3) 1.4M Travel activities and experiences listings 4.1 M Restaurant listings 500+ Airlines 30K+ Cruises 4#5Significant influence on the global travel market $546B Annual travel expenditures influenced 2.2B Vacation nights influenced 433M Annual trips influenced Source: May 2018 Oxford Economics Global Travel Market Study LO 5#6Addressing long-term travel market opportunity that is shifting online (1) Phocuswright estimates as of March 2022 $0.9 $0.3 Global Travel Market(¹) ($ trillions) 2010 7% Online CAGR 33% Offline Travel Online Travel $1.4 $0.8 2024 -57% 6#7Tripadvisor is the #1 travel site by traffic With more traffic than Booking.com, Airbnb, Yelp, Expedia, Skyscanner, Trivago, Kayak, Agoda, Priceline and Hotels.com Travel Sites Globally(1) Monthly unique users Apr May Jun Jul Aug Sept Oct 20 20 20 20 20 20 20 - Tripadvisor - Booking Airbnb Nov Dec Jan Feb Mar Apr 20 20 21 21 21 21 Yelp - Expedia - Skyscanner (1) Source: SimilarWeb, unique users de-duplicated monthly May 21 Trivago - Kayak Mar Jun Jul Aug Sep Aug Nov Dec Jan Feb 21 21 21 21 21 21 21 22 22 22 Agoda Priceline E 00 Hotels.com Tripadvisor#8Multiple areas of diverse, long-term growth potential E Hotels Click-based advertising for OTAS and hoteliers to capture bookings Offer sponsored placements and B2B solutions to hotel partners Do Display and Platform Enables advertising partners to promote their brands in a contextually relevant manner Investing to build a compelling direct-to-consumer offering Tripadvisor H Experiences Enables consumers to research and book more than 300K bookable products on 1.4M activities and attractions HE Dining Travelers and locals can research and book restaurants in select geographies Offer sponsored placement media ads to help restaurants to amplify their brands on our platform Other A collection of strategic offerings, including vacation rentals, flights, cruises, cars 8#9do Financial overview#10Financial highlights Significant historical revenue scale and long-term growth potential Experiences & Dining has significant growth and margin potential G Robust financial profile with strong track record of profitability and operating cash flow generation Operating leverage driven by prudent cost management EL B Attractive historical base of revenue and Adjusted EBITDA(1) from Hotels, Media & Platform J Balanced investments aimed at driving sustainable, long-term growth (1) Adjusted EBITDA is a segment profit measure and is defined as net income (loss) plus: (1) provision (benefit) for income taxes; (2) other income (expense), net; (3) depreciation and amortization; (4) stock-based compensation and other stock-settled obligations; (5) goodwill, intangible asset, and long-lived asset impairments; (6) legal reserves and settlements; (7) restructuring and other related reorganization costs; and (8) non-recurring expenses and income 10#111Q22: Year over year improvements in revenue and adjusted EBITDA Consolidated Revenue (in $ millions) $123 $235 $303 $241 $262 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Consolidated Net Income (Loss) (in $millions) $ (80) $ (40) $1 $ (29) $ (34) Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Consolidated Adjusted EBITDA (1) (in $millions) $ (26) Q1 2021 $ 25 Q2 2021 $72 $ 29 $ 27 Q3 2021 Q4 2021 Q1 2022 (1) Consolidated Adjusted EBITDA is a non-GAAP profit measure and is defined as net income (loss) plus: (1) provision (benefit) for income taxes; (2) other income (expense), net; (3) depreciation and amortization; (4) stock-based compensation and other stock-settled obligations; (5) goodwill, intangible asset, and long-lived asset impairments; (6) legal reserves and settlements; (7) restructuring and other related reorganization costs; and (8) non-recurring expenses and income 11#121Q22 Update: $1.3B of available liquidity • $781 million in cash and cash equivalents at 03/31/22 Positioned for a variety of recovery scenarios Liquidity position a/o 03/31/22 ($ millions) Cash and cash equivalents (C&CE) Unborrowed Revolver Capacity $1,278 $497 $781 As of March 31, 2022#13Continuing progression back to pre-pandemic levels Consolidated Revenue (in $ millions) $1,560 2019 $604 2020 $902 2021 Consolidated Net Income (Loss) (in $millions, except Net Income (Loss) margin) Net Income (Loss) $126 8% 2019 -48% -$289 2020 Net Income (Loss) Margin -16% -$148 2021 Consolidated Adjusted EBITDA(1) (in $ millions, except Adj. EBITDA margin) Consolidated Adjusted EBITDA Consolidated Adjusted EBITDA Margin $438 28% 2019 -8% -$51 2020 11% $100 2021 (1) Consolidated Adjusted EBITDA is a non-GAAP profit measure and is defined as net income (loss) plus: (1) provision (benefit) for income taxes; (2) other income (expense), net; (3) depreciation and amortization; (4) stock-based compensation and other stock-settled obligations; (5) goodwill, intangible asset, and long-lived asset impairments; (6) legal reserves and settlements; (7) restructuring and other related reorganization costs; and (8) non-recurring expenses and income; Tripadvisor defines 13 "Adjusted EBITDA margin" as adjusted EBITDA divided by revenue.#14Track record of strong cash flow generation (1) $238 Operating cash flow ($ millions) $405 $424 -$194 2017 2018 2019 2020 $108 2021 Free cash flow is a non-GAAP measure and is calculated as cash provided by operating activities less capital expenditures. $174 Free cash flow(1) ($ millions) $344 2017 2018 $341 2019 -$249 2020 $54 2021 14#15We have successfully driven a diverse revenue mix, with additional opportunities ahead 2012 4% 96% ■ Hotel Non-hotel 2015 15% 85% 34% Note: 2012 and 2015 reflect historical reportable segment reporting from annual Form 10-K's filed with the SEC. 2021 5% 11% TA-branded hotels TA-branded display 50% Experiences & Dining I Other Diversification supported by: O Hotel auction Diverse double-digit pre-pandemic growth in emerging offerings: Hotel B2B solutions Display and platform Experiences & Dining 15#16do Appendix#17Non-GAAP Reconciliations a Tripadvisor (in $millions) Reconciliation from GAAP Net Income (Loss) to Adjusted EBITDA (Non-GAAP): GAAP Net Income (Loss) Add: Provision (benefit) for income taxes Add: Other expense (income), net Add: Restructuring and other related reorganization costs Add: Impairment of goodwill Add: Stock-based compensation expense Add: Depreciation and amortization (¹) (2) Adjusted EBITDA (Non-GAAP) 2017 FY* Reconciliation of GAAP Cash Flow from Operating Activities to Non-GAAP Free Cash Flow: Cash flow provided by (used in) operations $238 64 Subtract: Capital expenditures Free Cash Flow (Non-GAAP) (3) $174 2018 FY* * Full-year totals reflect data as reported and may differ from the summation of the quarterly data due to rounding. $405 61 $344 2019 FY* $126 68 (7) 1 124 126 $438 $424 83 $341 2020 FY* ($289) (80) 40 41 3 109 125 ($51) ($194) 55 ($249) Q1 ($80) (16) 12 Q2 ($40) (6) 11 2021 Q3 $1 2 13 29 32 29 29 27 28 ($26) $25 $72 Q4 FY* 31 26 $29 ($29) ($148) ($34) (18) (37) 1 19 54 13 120 111 $100 2022 Q1 $108 54 $54 22 25 $27 The Company believes that non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enables comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating and analyzing our business. (1) Depreciation and amortization. Includes internal use software and website development amortization. (2) Adjusted EBITDA. A non-GAAP measure which is defined as net income (loss) plus: (1) provision (benefit) for income taxes; (2) other income (expense), net; (3) depreciation and amortization; (4) stock-based compensation and other stock-settled obligations; (5) goodwill, intangible asset, and long-lived asset impairments; (6) legal reserves and settlements; (7) restructuring and other related reorganization costs; and (8) non-recurring expenses and income. These items are excluded from our Adjusted EBITDA measure because these items are non-cash in nature, or because the amount is not driven by core operating results and renders comparisons with prior periods less meaningful. (3) Free Cash Flow. A non-GAAP measure which is defined as net cash provided by operating activities less capital expenditures, which are purchases of property and equipment, including capitalization of internal-use software development costs. We believe this financial measure can provide useful supplemental information to help investors better understand underlying trends in our business, as it represents the operating cash flow that our operating businesses generate, less capital expenditures but before taking into account other cash movements that are not directly tied to the core operations of our businesses, such as financing activities, foreign exchange or certain investing activities. Free Cash Flow has certain limitations in that it does not represent the total increase or decrease in the cash balance for the period, nor does it represent the residual cash flow for discretionary expenditures. Therefore, it is important to evaluate Free Cash Flow along with the unaudited condensed consolidated statements of cash flows. 17