#11022 Earnings Conference Call May 19, 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#3Solid Execution of Strategy Sustains Profitable Growth as Market Conditions Improve Omicron Impact 1022 Gross Bookings at 69% of 1019 level and +37% in March vs. January (Jan & Feb impacted by Omicron) Limited to 1022 ● ASPs stable QoQ at $411 per transaction, 6% below 1019 with international transactions at 51% of 1019 Gross Profit Margin = 1019, Despite Lower Gross Bookings Sustaining Positive Adj. EBITDA + Solid Cash Position Revenue Margin of 14.0%, up 438 bps vs 1019 Revenues only 10% down QoQ, despite 16% drop in Gross Bookings • Packages, hotels and other travel products accounted for 60% of total revenue • Highest Gross Profit since the start of pandemic, with the margin at 1019 level Continuing profitability trend despite air industry at 66% of 1019 • Adjusted EBITDA, excluding Koin at $12.3 M, even with GBs at 69% of 1019 levels Operating Cash Flow of $29.2 M • Sound balance sheet with Cash & Cash Equivalents of $285.8 M at quarter-end, including restricted cash Advancing M&A Strategy 1 Excluding Best Day, Koin and Extraordinary Charges May 6: agreed to acquire 100% Brazil-based online travel agent Viajanet January 13: agreed to acquire 51% of Stays, leading vacation rentals channel manager in Brazil#4With Omicron Behind Us and Travel Restrictions Practically Eliminated, Demand Expected to Continue Recovering • March and April resume recovery trend observed in October and November 2021 • January significantly impacted by Omicron, while February also seasonally slower Monthly Gross Bookings ($m) % of 2019 levels 53% 231 JAN 73% 250 FEB 85% 323 MAR 102% 330 APR • Gross bookings were 69% of 1Q19, outperforming air industry growth both in terms of gross bookings and transactions Domestic gross bookings exceeded 1019 by 7%, while International gross bookings reached 51% of 1019 levels BR - Carnival parades postponed from February to April, while cruiseship season was postponed to March to contain Omicron MX - In January, Covid alert system raise to yellow from green in some key areas, but downgraded in February and mostly lifted in March. No restrictions during the quarter. ➡AR - Minimal travel restrictions during quarter CO Restrictions implemented in metro areas were lifted in early March. CH - Emergency measures implemented, remaining until end of April.#5Despegar to Acquire 100% of Viajanet, Further Expanding Presence in Brazilian Market viajanet • One of the leading Online Agencies in Brazil's highly fragmented travel market • Online sales accounted for 98% of 2021 revenues Product Mix .88% of Gross Bookings originated in B2C channel, with remainder via B2B channel • 98% of Gross Bookings in Air segment of Brazil's travel market Financials • Company recorded -US$30 million in audited 2019 revenues Transaction Highlights Total consideration of -US$15M, subject to customary closing conditions • 60% of the purchase price payable at closing; 20% due 24 months after closing; remaining 20% due 36 months post closing Value to be Captured • Opportunity to cross-sell Despegar's complementary higher-margin non-air inventory, such as accommodations and travel packages • Significant synergies expected by plugging Despegar's technology platform into Viajanet's systems to enhance conversion rates and performance marketing capabilities, among other enhancements. 01 5#6Koin Will Enter Colombia Through Movii Partnership, While Expanding Merchant Base in Brazil Colombia's large and rapidly growing BNPL market Colombia market ripe for Buy Now Pay Later (BNPL) disruption: (1) Highly underserved population with limited credit access Fast-growing ecommerce market BNPL market grew record 200% in 2020 and projected to generate US$ 4.5 billion of transactions in 2028, growing 40% per year (1) Movii one of Colombia's leading fintechs MOVII +3.5 million of end-users 60,000 merchants Operates in the B2C segment as a digital wallet with large user base In the B2B segment, it acts as an acquirer and provides payments solutions to businesses According to PayNXT360, a payments research and consulting firm Expanding merchant base beyond Decolar • TPV(1) from merchants excluding Decolar up 117% QOQ, representing 21% of Koin's TPV • We have recently signed agreements with the following partners: - AQ Pago Magazord - WBuy - Yuno - MIT • Contracts with a total of 92 merchants as of March 2022, across verticals, including: tourism, education, retail, home appliances, among other. 6#7● Strong Take Rate and Lower Cost of Revenue Led to Highest Gross Profit Since 3019 Revenue Margin exceptionally high at 14%, and up 99 bps sequentially. Revenues reached $112.4M, down 10% QOQ but outperformed Gross Bookings that declined 16% Net Extraordinary cancellations were positive $2.0 million, reflecting reversal of provisions Gross Profit at $74.4 M, highest since 3019, with the margin at 1019 levels and also benefiting from lower Cost of Revenue REVENUES As Reported 133.1 1Q19 51.9 1Q21 -16% +117% 124.6 4Q21 -10% In US$ Millions 112.4 1Q22 [ REVENUES Ex-cancellations 133.1 1Q19 56.1 1Q21 -17% +97% 128.5 4Q21 -14% In US$ Millions 110.5 1Q22 7#8(1) Adjusted EBITDA of $12.3M Excluding Koin, Recovering Faster than Gross Bookings Adjusted EBITDA, excluding Koin, at 82% of 1019, compared with Gross Bookings at 69% As Reported Adjusted EBITDA of $6.8 M, below $9.0M in previous quarter due to Omicron impact in Jan and Feb Excluding Extraordinary Charges, Adjusted EBITDA would have been $6.8M. In 4Q21 and 1020, Despegar posted a comparable Adjusted EBITDA gain of $13.0M and loss of $14.2M, respectively In US$ Millions 15.2 1Q19 ADJUSTED EBITDA As Reported -1.3 -18.7 1Q21 Comparable: excluding Extraordinary Charges 12.4 -3.3 4Q21 12.3 -5.5 1Q22 Adjusted EBITDA - Despegar + Best Day In US$ Millions 15.2 1Q19 Adjusted EBITDA - Koin ADJUSTED EBITDA - Comparable (1) -1.3 -12.8 1Q21 16.3 -3.3 4Q21 12.3 -5.5 1Q22 8#9Generated $6.5 M in Net Cash Flow and $29.2 M in Cash Flow from Operations Net cash flow of $6.5 M in 1022, compared to cash generation of $3.6 M in 4Q21, use of cash of $24.7 M in 1021 and of $36.1M in 1019 Net Payable Position increased 11% on a QoQ basis to $220.4 million, Cash provided by operating activities of $29.2 M in 1022, compared with $0.5 M in 4Q21, and cash generation of $15.3 M in 4Q19 1022 BALANCE SHEET In US$ Millions Cash as of March 31, 2022 = $285.8 M Total net operational short term obligations of $220.4 M (1), increasing 11% QOQ (1) Net Payables: Comprised of travel suppliers payables plus related party payables and accounts payable and accrued expenses, minus accounts receivable net of allowances and related party receivables In US$ Millions 17.3 279.2 Cash Dec. 31 Operating Activities 1022 CASH FLOW BRIDGE Excl. Working Capital 11.9 Working Capital -9.4 -21.7 Financing Activities CAPEX 8.4 285.8 Cash Mar. 31 FX Adjustments 9#10Key Takeaways: Delivered Strong Quarter with Adjusted EBITDA Expanding Faster than Gross Bookings while Advancing M&A Strategy Results reflect growing earnings power in improving travel market Gross Bookings recovered to October 2021 levels in March and April, following Omicron's January and February impact Highest gross profit since start of pandemic, with the margin at 3019 level O Exceptionally strong Revenue Margin of 14% O Cost of revenue decreases with lower installments costs Adjusted EBITDA of $12.3 M, excluding Koin, recovering faster than Gross Bookings Further expanding online travel operations in Brazil with agreements to acquire: O Viajanet - Top 5 online agency with substantial cross-selling opportunities O Stays - Leading channel manager in country's vacation rental segment Koin merchant payment solutions gaining solid traction in Brazil Solid cash position of $285.8 M 10#11Looking Ahead Build on Solid Performance and Fundamentals as Travel Recovers in Latam Expect to maintain positive EBITDA trend, and continue gaining operating leverage Capture upside from international travel market as it catches up to 2019 by year-end Strong recovery in March and April driving need for additional marketing investments in countries with promising demand trends Close Viajanet Acquisition and Initiate Timely Integration Add New Merchants and Partners both in BNPL and Fraud Prevention Segments 11#12Q&A 1022 Earnings Conference Call 12#13Appendix 13#14Trends in Key Financial & Operating Metrics (in thousands U.S. dollars, unless otherwise stated) FINANCIAL RESULTS Revenue Revenue Recognition Adjustment 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 Equity Income / (Loss) Operating income Net financial income (expense) Net income before income taxes Adj. Net Income tax expense Income tax expense Adjustment Net income /(loss) Net (income) / loss attributable to non controlling interest Net income (loss) attributable to Despegar.com, Corp Adjusted EBITDA 2020 ($9,734) 13,801 (23,535) 6,848 24,391 18,415 1,324 50,978 (74,513) 9,428 (65,085) (8,011) (8,011) (57,074) (57,074) ($57,444) 3020 $11,740 12,390 (650) 5,299 22,818 14,322 42,439 (43,089) (4.484) (47.573) (5,838) (5,838) (41,735) $69 (41,666) ($31,246) 4020 $53,246 25,832 27,414 13,160 29,490 17,152 593 60,395 (2,059) (35,040) (2,095) (37,135) (8,298) (8.298) (28,837) $213 (28,624) ($19,261) 1021 $51,850 29,610 22,240 15,382 20,630 17,460 5,106 58,578 376 (35,962) (1,309) (37,271) 292 292 (37,563) $180 (37,383) ($20,024) 2021 $63,069 35,838 27,231 19,188 25,287 18,344 62,819 (348) (35,936) (1.835) (37,771) (6.413) (6.413) (31,358) $258 (31,100) ($22,256) 3021 $83,368 40,698 42,670 26,138 19,416 19,432 64,986 (29) (22,345) (3,254) (25,599) (1,654) (1,654) (23,945) $273 (23,672) ($10,345) 4021 $124,556 50,857 73,699 34,582 21,597 19,508 75,687 343 (1.645) (3,809) (5,454) 7,545 7,545 (12,999) $526 (12,473) $9,002 1022 $112,414 38,059 74,355 30,517 28,010 20,735 79,262 117 (4,790) (7,035) (11,825) 19,093 19,093 (30,918) (30,918) $6,799 14#15Trends in Key Financial & Operating Metrics (in thousands U.S. dollars and thousand transactions, unless otherwise stated) KEY METRICS Operational Gross bookings - 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 2020 $48,913 (96%) 207 (92%) 153 (90%) 54 (95%) ($47.0) (201%) $3.2 (90%) ($189.3) (381%) $236 (48%) 3020 $165,315 (86%) 595 (78%) 392 (75%) 203 (82%) $19.7 (59%) $15.9 (51%) $27.2 (62%) $278 (36%) 4020 $401,304 (69%) 1,257 (56%) 679 (59%) 579 (52%) $42.3 (17%) $28.1 (13%) $59.1 (23%) $319 (29%) 1021 $369,219 (53%) 1,228 (40%) 655 (46%) 573 (30%) $42.2 13% $25.5 (16%) $61.4 29% $301 (23%) 2021 $488,873 899% 1,331 543% 639 318% 692 1181% $47.4 (201%) $32.5 914% $60.2 (132%) $367 55% 3021 $657,263 298% 1,910 221% 999 155% 911 349% $43.6 121% $32.0 102% $55.6 104% $344 24% 4021 $958,829 139% 2,339 86% 1,277 88% 1,062 83% $53.3 26% $38.2 36% $70.4 19% $410 28% 1022 $803,855 118% 1,956 59% 1,015 55% 941 64% $57.5 36% $43.0 69% $71.9 17% $411 37% 15#16Unaudited Consolidated Balance Sheets (in thousands U.S. dollars) ASSETS Current assets Cash and cash equivalents Restricted cash and cash equivalents Short Term Investments Accounts receivable, net of allowances Related party receivable Other current assets and prepaid expenses current assets Non-current assets Other Assets Restricted cash and cash equivalents Right of use Property and equipment net Intangible assets, net Goodwill Total non-current assets TOTAL ASSETS As of March 31, 2022 235,175 50,589 127,120 15,857 33,614 462,3 63.426 26,649 17,234 85,873 128,094 321,276 783,631 As of December 31, 2021 246,078 33,145 136,843 20,172 50,803 487,041 82,406 27,240 17,285 85,723 122,426 335,080 822,121 LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities Accounts payable and accrued expenses Travel suppliers payable Related party payable Loans and other financial liabilities Deferred Revenue Other liabilities Contingent liabilities Lease liabilities Total current liabilities Non-current liabilities Other liabilities Contingent liabilities Long term debt Lease liabilities Related party liability Total non-current liabilities TOTAL LIABILITIES Series A non-convertible preferred shares Series B convertible preferred shares Redeemable non-controlling interest Mezzanine Equity SHAREHOLDERS' EQUITY (DEFICIT) Common stock Additional paid-in capital Other reserves Accumulated other comprehensive income Accumulated losses Treasury Stock Total Shareholders' Equity Attributable/ (Deficit) to Despegar.com Corp TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY As of March 31, 2022 49,938 278,678 35,115 11,206 16,924 69,443 11,746 6,860 479,910 35,661 25,128 11,508 20,294 125.000 217,591 697,501 100,879 46,700 147,579 280,298 349,334 (728) (16,368) (605,718) (68,267) (61,449) 783,631 As of December 31, 2021 51,577 263,530 34,772 16,283 13,556 79,014 9,156 6,938 474,826 38,545 25,281 10,400 20,937 125,000 220,163 694,989 109,565 46,700 2.596 158,861 279,932 350,200 (728) (18.065) (574,801) (68,267) (31,729) 822,121 16#17THANK YOU! CONTACT INVESTOR RELATIONS Natalia Nirenberg +54 911 2665 4490 [email protected] 17