#13022 Earnings Conference Call November 17, 2022 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#3Despegar Posts Strongest Post-COVID EBITDA Through a Disciplined Focus on Profitable Growth Demand Recovery 3Q'22 Executive Summary O GBs +68% YoY to $1.1 billion, only 6% below 3019 levels Revenue Growth Koin Cost Efficiency Strong EBITDA O O +75% YoY to $145.6 M, with take rate 60 bps above our long-term guidance O Total Operating Expenses were $93.9 M, 8.5% of GBs and 184 bps below 3Q21 O Adjusted EBITDA increased to $12.0 M, the fourth consecutive positive quarter and highest level since COVID outbreak Koin maintains a strict focus on asset quality as our Take Rate continues to outgrow expected losses 3#4Through Innovative Products We Enhance the Customer Journey while Strengthening our Competitive Advantage NIC Tailor made Personalizing Despegar landing page based on customer history Olli 2 Multichannel Launched Whatsapp as auxiliary sales channel under Best Day brand S 3 Affordable Cheap packages opaquing details (Airline & Hotel name), allowing aggressive sourcing on guaranteed demand DI pasaporte despegar 4 Loyalty Pasaporte Despegar reached 9.3 M members; Today, approximately 5% of transactions include point redemptions 4#5Travel Demand Continues Recovering across LatAm, Driving Gross Bookings Up 69% YoY to Only 6% Below 30'19 Levels Gross Bookings ($M) 400 300 200 100 0 300 200 100 0 600 400 200 0 Q1 Q1 Q1 Q2 Q2 Q2 Q3 Q3 Q3 GBs +9% QOQ as we exploited strong recovery in international traffic to gain market share +47% YoY in ASPS that rose 11% vs 3019 levels 3022 industry international traffic at 68% of 3019 GBs declined 13% QoQ on seasonal trends, but recovered 9% MoM in October as 4Q high season begins ASPS increased 25% YoY to 128% of 3019 levels O 3022 industry International traffic at 84% of 3019 O Despite seasonal effect, GBs remained flat QoQ as international traffic still recovering across region O +45% YoY in ASPs that rose 17% vs 3019 levels 5#61 Take Rate Revenues Continue Recovering on Rising Travel Demand Revenue ($ M) vs Take Rate (%) 11.2% 132.0 3Q19 88.6 43.5 12.7% 3Q19 83.4 3Q21 45.4 38.0 14.0% +10% 3Q21 112.4 1Q22 2 Cost of Revenue ($ M) vs Gross Profit Gross Profit 69.9 42.6 1Q22 12.0% +33% 134.4 2Q22 13.1% 45.1 145.6 2Q22 3Q22 89.3 +7% 95.3 50.3 3Q22 +75% Revenues +75% YoY to $145.6 M, 10% above 3019 Take Rate increased QoQ to 13.1% as we focused on profitable growth, specifically in Mexico and Argentina As reported CoR +33% YoY, significantly below 75% revenue growth in the period Gross Profit continues increasing, surpassing 3019 levels by 7% as Despegar builds operating leverage 6#7As Revenue Expands, Operating Leverage Continues to Kick In 1 G&A + T&PD ($M) 17.9 24.2 3Q19 19.4 22.2 3Q21 T&C 20.7 23.5 1Q22 +15% 21.4 27.0 2Q22 G&A 22.8 24.9 3Q22 Fixed costs only grew 15% YoY and 13% since 2019 as we successfully integrated two companies 2 G&A + T&PD (%Rev & %GB) 18.4% 13.6% 2.1% 1.5% 3Q19 26.6% 23.3% 3.4% 3.0% 20.9% 18.4% 2.9% 2.6% 3Q21 G&A (% Rev) - G&A (% GB) 1022 20.1% 15.9% 2.4% 1.9% 2022 T&PD (% Rev) T&PD (% GB) 17.1% 15.7% 2.2% 2.1% 3022 As % of GBs, T&PD and G&A declined YoY by 90 bps and 113 bps respectively, as operating leverage kicked in 3 Sales & Marketing ($M) 46.7 3Q19 26.1 3Q21 30.5 1Q22 42.2 2Q22 S&M expenses +77% YoY in line with market growth Tactical investment in certain markets to gain market share during 3022 46.2 3Q22 7#81 Fourth Consecutive Quarter of Positive Adjusted EBITDA, Reaching $12.0 M Quarterly EBITDA Evolution ($M) 9.4 3Q19 -10.3 3Q21 9.0 4Q21 +28% 6.8 1Q22 10.6 2Q22 12.0 3Q22 Operating Leverage drives EBITDA Adj EBITDA increased to $12.0 M, the fourth consecutive positive quarter and up from negative $10.3 M a year ago Strongest post COVID Adj. EBITDA as well as +28% vs 3Q19 Solid Cash position of $263 million provides financial flexibility to make strategic investments 8#91 Monthly TPV Evolution (R$ M) Decolar TPV 3rd party TPV -25% 120 100 80 60 40 20 Koin maintains a strict focus on asset quality and continues to successfully estimate expected losses 0 Q1-22 Q2-22 Koin Evolution to Date Q3-22 2 Take Rate vs Expected Losses (R$ M) Expected Loss 18.0 16.0 14.0 12.0 10.0 8.0 6.0 Q1-22 Take Rate Q2-22 Q3-22 Given high macroeconomic volatility, Koin taking a conservative approach to credit approvals Take Rate rises as Expected Losses fall, as we price risk effectively 3022 EBITDA loss of -$5.2 M 9#10Key Takeaways F Travel Demand Recovers Across Region Total GB +68% YoY, 7% below 3Q'19 Levels Solid Cash Position of $263 million Operating Cash flow of $10.3M O $10.4M payments for acquired businesses Revenue expansion and operating leverage Revenues +75% YoY to $145.6 M, +10% vs 3Q'19 iTo Koin Conservative approach to credit approvals Maintaining strict focus on asset quality $12.0 million Adjusted EBITDA O Fourth consecutive quarter of positive Adjusted EBITDA Cost efficiency drives additional operating leverage Looking Ahead Travel demand continues to steadily approach 2019 levels Maintain positive EBITDA momentum in 4Q22 10#11Q&A 3022 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 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 4020 $53,246 25,695 27,551 13,160 29,626 17,152 593 60,531 (2,059) (35,039) (2,095) (37,134) (8,298) (28,836) $213 (28.623) ($19,260) 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 14#15Trends in Key Financial & Operating Metrics (in thousands U.S. dollars and thousand transactions, unless otherwise stated) FINANCIAL RESULTS 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 4020 $401,285 (69%) 5,296 1,258 (56%) 679 (59%) 579 (52%) $42.3 (17%) $28.1 (13%) $59.1 (23%) $319 (29%) 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% 2,298 83% 1,277 88% 1,062 83% $53.3 26% $38.2 36% $70.4 19% $410 29% 1022 2022 $799,475 $1,113,473 117% 128% 22,472 778% 2,193 20,293 572% 1,956 61% 70% 1,129 1,015 55% 77% 1,033 941 64% 49% $61.3 29% $47.2 45% $76.2 27% $511 39% $57.5 36% $43.0 69% $71.9 17% $411 37% 3022 $1,104,283 68% 17,830 136% 2,208 21% 1,122 12% 1,063 29% $65.9 44% $52.0 62% $79.7 30% $503 40% 15#16Unaudited Consolidated Balance Sheets (in thousands U.S. dollars) ASSETS Current assets Cash and cash equivalents Restricted cash Short term investments Trade accounts receivable, net of credit expected loss Loan receivables, net Related party receivable Other current assets and prepaid expenses Tatal current assets Non-current assets Other assets and prepaid expenses Loan receivables, not Lease right-of-use assets Property and equipment net Intangible assets net Goodwill Tatal non-current assets TOTAL ASSETS 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 91109 134,512 344,669 797,639 As of June 30, 2022 236,278 38,486 $286 137,265 15,848 16.045 12,021 456,229 58.527 1373 24,758 17,486 85,897 141.366 329,407 785,636 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 Tatal current liabilities Non-current liabilities Other liabilities Contingent liabilities Long term dobt Lease liabilities Related party liability Total non-current liabilities TOTAL LIABILITIES Senes A non-convertible preferred shares Senes B convertible preferred shares Mezzanine Equity OLDERS DEFICIT SH Common stock Additional paid-in capital Other reserves Accumulated other comprehensive loss Accumulated losses Treasury Stock Total Shareholders' Equity Attributable/{Descit) to Despegar.com Corp TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS DEFICIT 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) (428,165) (78,267) (109,137) 797.639 As of June 30, 2022 61,291 280,974 43,728 21591 18.268 61,878 11,354 6.377 505,461 35,756 25,569 9.330 18,894 125.004 214.553 720,014 107,537 46,700 154,237 284,493 347,819 (728) (25,994) (618,879) (75.326) (88,615) 785.636 16