Travel+Leisure Timeshare Market Dynamics and Financial Overview

PROVEN RESILIENT BUSINESS MODEL FAVORABLE TIMESHARE MARKET DYNAMICS REALITY VS. PERCEPTION EXPANDING PLATFORM High Adjusted EBITDA Margins and Strong FCF STRONG MARGINS AND FCF ROBUST CAPITAL RETURNS High Adjusted EBITDA Margins (1) Mid-20's Strong and Consistent Conversion of Adj. FCF (1) from Adj. EBITDA (1) Track Record of Execution in the ABS Market Minimal Inventory Commitments Increased margins during the Great Financial Crisis ~50% expected adj. FCF conversion (2) Average three transactions per year Four years of expected inventory on balance sheet (1) Non-GAAP measure: see appendix for definition. (2) 2023 Financial goal. Adjusted Free Cash Flow conversion is a forward-looking non-GAAP measure, the reconciliation of which is not available without unreasonable effort. See appendix for definitions. TRAVEL+ LEISURE 26

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