Investor Presentaiton

6 Market Cap / FCFE (*) CY2020E 16x LARGE VALUE GAP RELATIVE TO PEERS 15x OO tripadvisor 14x 13x 12x lastminute.com 11x 10x 9x 8x H HOSTELWORLD 7x 0% 5% 10% BOOKING HOLDINGS Ctrip 15% Source: eDO analysis based on market data (*) FCFE = Operating Cash Flow - Capex - Net Interest Expense Date calculation: 15th November 2019 eDreams ODIGEO 20% 23 eDreams ODIGEO 25% 30% CLEAR VALUATION gap vs. key peers >Expedia® FCFE (*) CY2019-2021E CAGR 35% 40% INVESTOR PRESENTATION

View entire presentation