MakeMyTrip Limited (NASDAQ: MMYT) Investor Presentation February 2021 Safe Harbour

This presentation contains certain statements concerning MakeMyTrip’s (MMYT) future growth prospects and forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the MMYT’s current expectations, assumptions, estimates and projections about MMYT and its industry. These forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate", "believe", "estimate", "expect", "intend", "will", "project", "seek", "should" and similar expressions. Such statements include, among other things, quotations from management as well as MMYT’s strategic and operational plans. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, a slow-down of economic growth in India and the global economic downturn, general declines or disruptions in the travel industry, volatility in the trading price of MMYT’s shares, MMYT’s reliance on its relationships with travel suppliers and strategic alliances, failure to further increase MMYT’s brand recognition to obtain new business partners and consumers, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in India and overseas, failure to successfully develop MMYT’s corporate travel business, damage to or failure of MMYT's infrastructure and technology, loss of services of MMYT's key executives, and inflation in India and in other countries. In addition to the foregoing factors, a description of certain other risks and uncertainties which may cause actual results to differ materially can be found in the “Risk Factors” section of MMYT's 20-F dated August 17, 2020 filed with the U.S. Securities Exchange Commission (“SEC”), copies of which are available from the SEC, our website or our Investor Relations department. COVID-19, and the volatile regional and global economic conditions stemming from it, and additional or unforeseen effects from the COVID-19 pandemic, could also continue to give rise to or aggravate these risk factors, which in turn could continue to materially adversely affect our business, financial condition, liquidity, results of operations (including revenues and profitability) and/or stock price. Further, COVID-19 may also affect our operating and financial results in a manner that is not presently known to us or that we currently do not consider to present significant risks to our operations. All information provided in this presentation is provided as of the date of issuance of this presentation, and MMYT does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

We cannot assure you that the assumptions made in preparing any of the forward-looking statements will prove accurate or that any projections will be realized. We expect that there will be differences between projected and actual results. The forward-looking statements made in this presentation relate only to events or information as of the date on which the statements are made in this presentation. Our actual results, performance, or achievement may differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, we can give no assurances that any of the events anticipated by these forward-looking statements will transpire or occur or, if any of the foregoing factors or other risks and uncertainties described elsewhere in this presentation were to occur, what impact they would have on these forward-looking statements, including our results of operations or financial condition. In view of these uncertainties, you are cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements attributable to us are expressly qualified in their entirety by the cautionary statements contained herein and in our future annual and quarterly reports as filed with the SEC.

2 Key Investment Highlights

1 Large Travel Market in Large & Growing Economy

2 Strong Market Leadership with Multiple Well Recognized Online Travel Brands

3 Travel Super App – One Stop Shop for All Types of Travel and Related Ancillary Services

Robust, Scalable and Secured Technology Platforms Servicing Customers on Multiple Device 4 Interfaces

Demonstrated Operating Leverage with Scale in Multiple Travel Segments 5 Higher Repeat Rates Driving Lower Customer Acquisition Costs Rationalized Fixed Cost Structure During COVID19 Disruption

3 Multiple Tailwinds to Drive India’s Low e-commerce Penetration Higher

Large Economy with Reaccelerating Growth Forecasted1 Largest Young Population3 to Drive Digital Adoption

2019 2020 2021 44% 49% 7%

4.2% -10.3% 8.8%

29% 59% 12%

6.1% 1.9% 8.2%

2.2% -4.3% 3.1% 31% 52% 17%

2 India to Become $5 Trillion Economy by 2024 Age 0–24 Age 25–64 Age 65+

2nd Largest Base ~142 Million Additional Middle-Income Households by 20304 of Internet Users with Low Penetration5

Internet Users 54% 78% (In Millions) 838 686 86% ~300 59% 1.1 50% Billion ~158 Internet Users by 20304

2018 2030 US China India

Share of Middle-Income Households

Source: 1IMF World Economic Outlook, 2Government estimates 3CIA World Fact book 2020 estimates, 4World Economic Forum (January, 2019), 5World Economic Forum (August, 2020) 4 Long Term Growth Potential

Flight Ticketing Hotel Booking Inter-City Bus Ticketing

 Leading Domestic & International Market  Large Domestic & Outbound Opportunity  High Fragmentation of Bus Operators – Share in Fast Growing Air Travel Market Available Seeking Digitization & Online Distribution

 Traffic Recovery Back on Track Post Opening  Low Online Domestic Hotel Penetration  3,500+ Active Bus Operators Signed on of Airports on May 25, 2020 Platform with 1.5+ Million Seats Bookable  Fragmented Hotels & Alternative Domestic Air Passengers Flown Accommodations Supply 1  19 Road Transport Corporations (State (in millions) Government Operators) within India 12.8 12.4  Pan India & International Destinations Supply Connected on redBus Platform 7.8 4.9 6.0 7.1 2.6 3.6 Available for All Hotels Segments & - 0.3 2.0 2.0 Alternative Accommodations  Unique Bus Operator GDS Platform to Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Digitize Inventory & redBus App for Online  Domestic Airline Allowed to Operate up to  Proprietary Supplier Enablement Technology Distribution 80% Capacity (Jan 2021)1 for Distribution  India’s Playbook Expanded into International  Establishment of Air Travel Bubbles to  2 Strong Brands to Drive Volumes Bus Markets Aid in Recovery of International Flights

 Government Plans to Add At least 100 Airports / Waterdromes / Heliports by 2024 under UDAN scheme2

Source: 1DGCA, 2Ministry of Civil Aviation; UDAN scheme (Ude Desh ka Aam Nagrik) is a regional airport development and connectivity scheme aimed at making air travel affordable and widespread by Government of India 5 Market Leader with Superior Domestic Brand Awareness

Top Of Mind Awareness

51

14 9 4 1

MakeMyTrip gobibo Yatra Cleatrip Others

Consideration Top Box Score

50

17

6 3 2

MakeMyTrip gobibo Yatra Cleatrip Others

Source: December 2020 KANTAR Brand Health Report commissioned by Company` 6 Robust & Innovative Technology Platform to Drive Super App Vision

Travel Super App Trip Ideas Enhanced Big Data & AI Driven Discoverability Cross Sell Experience

Universal Search Trip Planning Linked to Contextualized Prompts Common Backend Platform Booking to Drive Faster Innovations & Faster Product Area Guides to Build Trust Greater Efficiencies Discovery Powered by Rich Content, Including UGC Granular Travel Themes Relevant Persuasions Better User Engagement Personalized Recommendations

7 Wide Range of Hotel Options

Premium (5 stars) Mid Tier (3 & 4 stars) Budget

• Positioning MakeMyTrip as Premium Brand • Expanding Selection & Choice • Budget Certification Program

• Leveraging Loyalty Programs to Drive • Further Driving Online Bookings • Good Ratings & Standard Amenities Retention

• Enhanced Customer Experience (Pre • Consistency Across Fragmented Supply • Targeting High Spending & Repeat Booking, Post Sales & On Trip) Customers • goStays Certified Properties Available • Offering Accredited Hotels to Deliver • Delivering Superior End-to-End User Consistent Stay Experience Experience

Offering Curated International Hotels Catering to Indian Travelers’ Needs

8 Alternative Accommodations – Long Term & Nascent Growth Opportunity

• Alternative to Traditional Hotel Experience – Social Distancing Friendly

• Supported by Customer Service Pledge & Guarantee

• Broadens Customer Reach

• Marketing via Traditional & Social Media Channels

• Partnering with State Tourism Boards to Promote Local & Community Based Travel

• Increasing Supply With +22k Properties in India

9 redBus – Leading Intercity Bus Ticketing Brand with Full Stack Technology Solutions Across Entire Value Chain & Deep Operational Expertise

• Leading Bus Ticketing Brand with Superior Customer Experience

• Comprehensive Selection & Choice of Intercity Bus Operators (Public & Private)

• Live Bus Tracking & Fleet Management Platform

• Supplier Platform for Bus Operators to Quickly Digitize Inventory & Distribution Management – Hosting 45% of Inventory in India’s Private Bus Market

• Travel Agent & API Distribution Platform (25K+ agents across India)

• Model Highly Scalable Beyond India Operating in LATAM & Southeast Asia

Customers Operators Bus Tickets 23 MM 3,500 193+ MM redBus is trusted by network of over 3,500 bus tickets sold since over 23 million happy bus operators FY18 customers globally worldwide

10 Holidays & Activities Integration Further Driving Connected Trip Experience

Curated Holiday Packages with Deep Integration of Add On & Cross Sell Services Wide Availability of Activities (Cabs & Activities) & Experiences Offered

11 Ground Transportation – Cabs, Trains & Metro Ticketing Extending Customer Reach

Outstation Cabs Airport Cabs • Convenience of online booking • Convenience of attaching cab while • Option to pay via multiple payment options booking a flight • Ability to compare prices & cab categories • Easy and quick hop on experience - • Expert & verified drivers customers board cabs from partner • Catering to post lock down demand - Short kiosks drive holidays & Staycations • Fare lock - no surge pricing • Assuring safety & sanitization using machine • Safety & sanitization assurance provided learning algorithm

Train Ticketing Metro Ticketing

• Capturing next 100 million users • QR Code based e-tickets • One of the most frequently used travel • Cashless, Contactless & method in India - help extend reach Convenient • Targeting users from Tier 2 & Tier 3 • Connected trip experience for cities and introducing them to online users of super app travel at an early stage of internet adoption • Build life time value of onboarded users - cross selling other travel products • High frequency use case helps in user retention

12 Increasing Focus on Gaining Greater Corporate Travel Wallet Share

India’s First Comprehensive Self Serve Solution 100% Online Enterprise Platform

• Simplified User & Booking Experience

• Personalized Content and Features for Corporates Travel Policy Approvals Bookings

• Automated Invoice 2 Product Management Solution Spend Approach Documentation Management Reports • Robust Reporting & MIS • Customized Modules to Meet Enterprise • Cost Savings Features Customers’ Needs

• Leveraging MMYT’s • All Use Cases Automated Supply Advantage • Leveraging MMYT’s Hotel Supply Advantage

Largely Unconsolidated and Offline Corporate Travel Market Focus on SMEs & Mid-Sized Corporates Addresses Half of Total Market Opportunity

13 Brand Expansion into Gulf Cooperation Council (GCC) Region

International Platform with Localized Offerings

• Growth Market with High Digital Reach • Global Supply Inventory Provides Competitive Advantage

• High GDP per Capita • Targeted Products Catering to Local Travel Preferences

• Primarily Offline Travel Booking Market • Providing a Localized Booking Experience (UAE Sites Supply, Traffic, Payments, Arabic Language) • Absence of Large Full Service OTAs

14 Multiple Tech Enabled Distribution Channels to Aggregate Demand

B2C B2B2C

myPartner – Offline & Local Franchise Network for Travel Agents Booking Platform Offline Sales Mobile Apps & Mobile Websites

Holiday Experts Assisted Holiday Package Sales Desktop Websites

15 Industry Recovery Initiatives – Contactless & Safety Focused

• Partnerships with Suppliers to Implement Safety and Cleanliness Protocols to • 5,400 Properties with Self Certifying Cleanliness & Hygiene Protocol Ensure Safe Travel Implementations

• Current & Detailed Information on Various Modes of Transport, Hotels & • 2,000 Hotels Registered for Independent Safety & Cleanliness Audit Program Activities • Contactless Check at 500 Hotels • Comprehensive Travel Restriction Guidelines by State & by Country • Native App based Flight Check Ins & Seat Selections • Highly Flexible Booking Policies Free Cancellations, Zero Payments Now • QR Code Boarding Passes for Bus Ticketing

16 Relaunch of Improved Loyalty Programs

MMTBLACK goTribe

• Relaunched September 2020 • Spend based program • More benefits for members – extra discounts, cashbacks, free • 2 tiered program with upgrade options upgrades • Exclusive discounts & perks (early check ins, free drinks & • Targeting & rewarding high spending users for loyalty & repeat transfers, etc.) • Multi tiered program – benefits linked with spends • Program cost reductions by collaborating with supply partners • 920+ thousand enrollees • 580+ thousand enrollees

17 The MakeMyTrip Foundation - Corporate Social Responsibility

Responsible Tourism Ecological Balance COVID19 Response • Supported establishment of Private Hospitals • Boost cleanliness and sanitation in • Be part of solution to fight drastic climate & Contributions to Prime Minister’s Cares popular tourism spots – Zero Waste change & global warming Fund Destinations in Sahastradhara & Dehradun • Dense afforestation using the • Partnership with Indian Government to Miyawaki Technique of Plantation develop & scale COVID19 contact tracing • Partnership with World Wide Fund India to with 1.2 million trees planted in Ladakh app with 162+ million downloads establish homestays & eco cafes to provide economic opportunities • Partnership with Andaman Islands • Supported daily wage earners & migrant Government to make island single use labors via 150k cooked meals, 300 dry ration • Campaign for responsible tourism with plastic free kits & 6k masks stakeholders • Single Use Plastics Free office • Funded COVID19 test kits and lab testing

The MakeMyTrip Group takes millions of Indians to different places every year, we believe it’s our responsibility to promote a sustainable and responsible way of travel to Indians

18 Experienced Founding & Management Team Driving Execution

Deep Kalra Rajesh Magow Mohit Kabra Founder & Group Executive Chairman Co-Founder & Group CEO Group Chief Financial Officer

• Started MakeMyTrip in 2000 • Senior founding team member • 26+ Years of Experience • Group Chairman • Member of the Board of Directors • Prior Experience: Kohler India, PepsiCo, Colgate & Seagram • 28+ Years of Experience • Previously Group CFO and Chief Operating Officer • Bachelor of Commerce – Osmania • Prior Experience: GE Capital India, AMF University Bowing Inc. & ABN AMRO Bank • 27+ Years of Experience • Chartered Accountant from Institute of • Board member & past President of The • Prior Experience: eBookers.com, Aptech Chartered Accountants of India IndUS Entrepreneurs (TIE) New Delhi Limited & Voltas Limited chapter • Cost Accountant from Institute of Cost • On FlipKart Board Accountants of India • Founding member of Ashoka University & • Chartered Accountant from Institute of serves on the Board & Governing Council Chartered Accountants of India • Bachelor’s degree in Economics – St. Stephen’s College • MBA IIM Ahmedabad, India

19 Financial Overview

20 Leading Indian OTA with Unrivaled Business Scale & Strength Entering COVID19 Pandemic (FY2020)

Hotels & Packages Bus Ticketing Air Ticketing $886 million $3.6 billion $1.6 billion Gross Bookings Gross Bookings Gross Bookings

78.6 million 42.1 million 29.6 million Bus Tickets Sold Flight Segments Room Nights Stayed

Source: Company data for the 12 months ending March 31, 2020

21 Adjusted Margin Growth & Improving Business Mix Since ibibo Group Merger

$ in Millions Air Ticketing Hotels & Packages

$249.7 $360.1 $351.6 $234.2

$313.7 $202.1

FY18 FY19 FY20 FY18 FY19 FY20

Adjusted Adjusted 7.5% 7.3% 7.0% 22.6% 23.2% 22.1% Margin % Margin % Segment Segment 35.0% 34.8% 34.5% 54.4% 52.2% 49.8% Mix % of Group Mix % of Group

Bus Ticketing Others $75.6 $37.9

$28.8 $58.8

$17.0 $44.4 38%

FY18 FY19 FY20 FY18 FY19 FY20 Adjusted Margin % 8.9% 8.2% 8.5%

Segment Segment 7.7% 8.7% 10.5% 2.9% 4.3% 5.2% Mix % of Group Mix % of Group

Note: 1) FY20 growth moderated as Company focus shifted to better unit economics 2) FY20 Results further impacted by COVID19 related disruptions in second half of Fiscal Q4 22 Cost Structure Optimizations Since Merger Focused on Marketing, Sales Promotion & Customer Inducement Spend Efficiencies

Operating Costs as % of Gross Bookings (%)

20% 15.9% 14.2% 15% 1.7% 12.9% Right size unit economics

6.6% 10% 9.8% 5.9%

3.6% 5% 2.8% 1.5% 1.1% 1.4% 1.0% 1.5% 1.0% 1.5% 0.3% 1.4% 0.2% 1.4% 0.3% Reduce customer inducement and sales 0% FY18 FY19 FY20 promotion costs

Customer Inducement Costs1 Marketing Costs2 SGA4 Payment Gateway Employee Costs3 D&A5

Adjusted Operating Losses (in $ millions) Focus on brand loyalty and repeat rates FY18 FY19 FY20 $0

($50)

($69.9) Consolidate back-end infrastructure & ($100) ($98.8) overheads

($150) ($154.8) ($200)

Note: 1) Customer Inducement Costs include adjustments for promotions netted against revenue 2) Marketing costs include Marketing and sales promotion & certain loyalty program costs 3) Personnel Expenses excluded share based compensation charges and severance cost related to a prior acquisition 4) SGA excluded Merger and acquisitions related expenses and provision for litigations 5) Depreciation and amortization excluded acquisition related intangibles amortization and impairment of intangible asset 23 Business Recovery Improving with Every Quarter Post Lockdown Adjusted Operating Profitability Achieved in Q3 FY21

$ in Millions

Adjusted Margin Air Ticketing Hotels & Packages Bus Ticketing Others

$26.0 $25.2

$9.0 $11.9 $4.1 $3.1 $5.5 $2.5 $4.1 $1.1 $1.2 $0.3

Q1 FY21 Q2 FY21 Q3 FY21 Q1 FY21 Q2 FY21 Q3 FY21 Q1 FY21 Q2 FY21 Q3 FY21 Q1 FY21 Q2 FY21 Q3 FY21

7.4% 8.0% 7.5% 21.3% 16.9% 17.9% 8.6% 8.1% 8.2%

6.3% 18.1% 36.7% 1.2% 6.4% 23.7% 1.6% 15.0% 43.4% 10.7% 27.4% 47.9%

Adjusted Margin % Adjusted Margin as % of Prior Year Quarter

Adjusted Operating Profit/(Loss)

Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 $5.2

($10.3) ($11.0) ($12.9) ($19.3) ($21.3) ($29.2)

Covid19 Nationwide Lockdown Impact

24 Accelerated Cost Optimization Well Placed Operationally & Financially to Recover Better

9M FY21 (in $ millions) Q1 FY21 Q2 FY21 Q3 FY21 9M FY21 YoY Change Gross Booking $64.50 $213.00 598.8 876.2 (82.1%) Adjusted Margin Air Ticketing 4.1 11.9 26.0 42.0 (79.2%) Hotels & Packages 1.2 5.5 25.2 31.9 (89.2%) Bus Ticketing 0.3 2.5 9.0 11.9 (79.8%) Others 1.1 3.1 4.1 8.4 (72.7%) Operating Costs Customer Inducement Costs1 0.7 2.7 14.8 18.2 (94.0%) Marketing & Sales Promotion & Loyalty Program Costs 1.0 2.3 7.8 11.1 (92.0%) Payment Gateway 0.4 1.6 5.0 7.0 (85.4%) Personnel (excluding SBC)2 15.2 15.7 17.6 17.6 (27.8%) SGA3 7.2 8.7 10.0 10.0 (63.2%) Depreciation & Amortization4 5.0 5.3 4.4 4.4 4.3% Total Cost as % of Gross Booking 46% 17% 10% 14%

Variable & Semi Variable Costs Fixed & Semi Fixed Costs Operating Cost Optimizations Implemented in Late March Liquidity Profile Improved – Long Operating Runway due to COVID19 Disruption

• Significant efficiencies in Marketing & Promotional spends with view to drive efficiencies 1 vs pre-pandemic levels as business recovery continues

• Cost rationalization through downsizing of call centers, right sizing of manpower, 2 compensation cuts (largely restored in Q3), reduction in office space & infrastructure costs

• Technology investments in automating customer support for more efficient call center 3 staffing with business recovery $227.6 million ~$100.0 million Cash & Term Deposits Credit & Guarantee (as of 12/31/2020) Facilities Available (as of 12/31/2020) 4 • Integration of tech stack across OTA brands to drive synergies

Note: 1) Customer Inducement Costs include adjustments for promotions netted against adjusted revenue 2) Personnel Expenses excluded share based compensation charges and severance cost related to a prior acquisition 3) Depreciation and amortization excluded acquisition related intangibles amortization and impairment of intangible assets 4) SGA excluded Merger and acquisitions related expenses and provision for litigations 25 Appendix

26 Non-IFRS Metrics & Note on Unaudited Financials

The following non-IFRS metrics will be used in this presentation:

Gross Bookings represents total amount paid by our customers for travel services and products booked through us, including taxes, fees, and other charges, and are net of cancellations, discounts and refunds, but does not include other revenues that are generated from 3rd party advertisement on our website, commissions and fees earned from the sale of rail tickets and fees earned by facilitating travel insurance policies to customers.

Adjusted Margin is our segment profitability measure and represents IFRS revenue after adding back customer inducement costs in the nature of customer incentives, customer acquisition costs and loyalty program costs, which are reported as a reduction of revenue, and deducting the cost of acquisition of services primarily relating to sales to customers where the company acts as the principal. This metric was previously titled “Adjusted Revenue” in our past public filings in fiscal years 2019 and 2020. For more information, see “About Key Performance Indicators and Non-IFRS Measures” elsewhere in our SEC Form 20F, filed on August 17, 2020.

Adjusted Margin % is defined as Adjusted Margin as a percentage of Gross Bookings, and represents commissions, fees, incentive payments and other amounts earned in our business. We follow adjusted margin trends closely across our various lines of business to gain insight into the profitability of our various businesses.

Flight Segment is defined as a flight between two cities, whether or not such flight is part of a larger or longer itinerary.

Room Nights, also referred to as a “hotel-room nights,” is the total number of hotel rooms occupied by a customer or group, multiplied by the number of nights that such customer or group occupies those rooms.

Constant Currency refers to our financial results assuming constant foreign exchange rates for the current fiscal period based on the reporting for the historical average rate used in the prior year’s comparable fiscal period.

Fiscal Year End – March 31st

27 Reconciliation of IFRS to Non IFRS Measures

Reconciliation of Revenue per IFRS to Adjusted Margin

Air Ticketing Hotels and Packages Bus ticketing Others

Fiscal Year Ended Fiscal Year Ended Fiscal Year Ended Fiscal Year Ended March 31, March 31, March 31, March 31, 2018 2019 2020 2018 2019 2020 2018 2019 2020 2018 2019 2020 (in $ thousands) Revenue as per IFRS $ 167,391 $ 166,714 $ 174,361 $ 439,963 $ 237,524 $ 235,814 $ 50,932 $ 53,745 $ 65,009 $ 16,970 $ 28,028 $ 36,345 Add: Customer inducement costs recorded as reduction of revenue 34,673 68,632 75,779 43,068 274,915 265,706 — 13,950 17,688 — 861 1,985 Less: Service Cost as per IFRS — 1,193 420 169,347 160,824 141,404 6,530 8,870 7,060 — 58 383 Adjusted Margin $ 202,064 $ 234,153 $ 249,720 $ 313,684 $ 351,615 $ 360,116 $ 44,402 $ 58,825 $ 75,637 $ 16,970 $ 28,831 $ 37,947

Reconciliation of Adjusted Operating Profit/(Loss) Fiscal Year Ended March 31, 2018 2019 2020 (in millions) Results from operating activities as per IFRS $ (219.4) $ (152.9) $ (429.4) Add: Employee share-based compensation costs 44.9 40.0 41.6 Add: Impairment of goodwill 2.9 — 272.2 Add: Gain on disposal of an equity-accounted investee — — (0.7) Add: Acquisition related intangibles amortization 14.7 14.1 14.7 Add: Severance cost related to a prior acquisition 2.2 — — Add: Merger and acquisitions related expenses — — 0.9 Add: Provision for litigations — — 30.8 Adjusted Operating Profit/(Loss) $ (154.8) $ (98.8) $ (69.9)

Source: Company SEC 20F Filing for FY2020 28 Reconciliation of IFRS to Non IFRS Measures

( in $ thousands) For the three months ended June 30 Air ticketing Hotels and packages Bus ticketing Others 2019 2020 2019 2020 2019 2020 2019 2020 Revenue as per IFRS 44,613 3,756 68,524 1,121 18,321 338 10,279 1,146

Add: Customer inducement costs 20,581 309 78,974 332 5,259 12 513 1 recorded as reduction of revenue Less: Service cost as per IFRS 161 - 46,123 237 2,229 18 52 1 Adjusted Margin 65,033 4,065 101,375 1,216 21,351 332 10,740 1,146

For the three months ended September 30 Air ticketing Hotels and packages Bus ticketing Others 2019 2020 2019 2020 2019 2020 2019 2020 Revenue as per IFRS 45,992 10,873 46,763 4,388 14,257 2,652 10,945 3,139

Add: Customer inducement costs 20,087 1,051 68,241 1,549 3,795 146 529 - recorded as reduction of revenue Less: Service cost as per IFRS 127 6 27,934 397 1,405 296 65 9 Adjusted Margin 65,952 11,918 87,070 5,540 16,647 2,502 11,409 3,130

For the three months ended December 31 Air ticketing Hotels and packages Bus ticketing Others 2019 2020 2019 2020 2019 2020 2019 2020 Revenue as per IFRS 47,911 18,168 72,989 24,405 17,737 10,096 8,252 4,137

Add: Customer inducement costs 23,056 7,837 76,578 6,916 4,819 77 528 4 recorded as reduction of revenue Less: Service cost as per IFRS 27 - 43,273 6,167 1,739 1,145 169 19 Adjusted Margin 70,940 26,005 106,294 25,154 20,817 9,028 8,611 4,122

For the nine months ended December 31 Air ticketing Hotels and packages Bus ticketing Others 2019 2020 2019 2020 2019 2020 2019 2020 Revenue as per IFRS 138,516 32,797 188,276 29,914 50,315 13,086 29,476 8,422

Add: Customer inducement costs 63,724 9,197 223,793 8,797 13,873 235 1,570 5 recorded as reduction of revenue Less: Service cost as per IFRS 315 6 117,330 6,801 5,373 1,459 286 29

Adjusted Margin 201,925 41,988 294,739 31,910 58,815 11,862 30,760 8,398

Source: Company Quarterly SEC 6K Filings 29 Reconciliation of IFRS to Non IFRS Measures

( in $ thousands)

Reconciliation of Adjusted Operating Profit (Loss) For the three months ended March 31 2019 2020 Results from operating activities as per IFRS (30,981) (330,258) Add: Provision for contingencies - 30,800 Add: Employee share-based compensation costs 8,997 13,370 Add: Impairment of goodwill - 272,160 Add: Acquisition related intangibles amortization 3,557 3,613 Adjusted Operating Profit (Loss) (18,427) (10,315)

For the three months ended Reconciliation of Adjusted Operating Profit (Loss) June 30 2019 2020 Results from operating activities as per IFRS (42,898) (34,587) Add: Employee share-based compensation costs 9,102 9,787 Add: Acquisition related intangibles amortization 3,727 3,472 Add: Merger and acquisitions related expenses 890 - Adjusted Operating Profit (Loss) (29,179) (21,328)

Reconciliation of Adjusted Operating Profit (Loss) For the three months ended September 30 2019 2020 Results from operating activities as per IFRS (31,880) (26,070) Add: Employee share-based compensation costs 8,808 9,616 Add: Acquisition related intangibles amortization 3,689 3,529 Add: Merger and acquisitions related expenses 46 - Adjusted Operating Profit (Loss) (19,337) (12,925)

Reconciliation of Adjusted Operating Profit (Loss) For the three months ended December 31 2019 2020 Results from operating activities as per IFRS (24,374) (7,343) Add: Acquisition related intangibles amortization 3,695 3,541 Add: Employee share-based compensation costs 10,351 8,954 Less: Gain on disposal of an equity-accounted investee (700) - Adjusted Operating Profit (Loss) (11,028) 5,152

Source: Company Quarterly SEC 6K Filings 30