TITLE SIZES 2015 Full Year results COVER TITLE Arial Headings Bold 28 point / Dark Blue / Accent 1 Investors and Analysts presentation SUBTITLE Arial Headings Bold 18point / 80% Grey 10 March 2016 DATE

Arial Headings Regular © Copyright 2016 14point / 80% Grey

PHOTO(1) SLIDE INSERT PICTURE

2015 financial summary 2 Solid performance in a challenging restructuring context 1 Right-click on existing in CHF m Q4 2015 Q4 2014 Change 2015 2014 Change picture and choose Fill/ Picture or Texture Fill. Revenue 762.7 756.6 0.8% 2'996.4 3'009.2 (0.4%)

FX effect 32.9 111.3

Revenue @CC¹ 795.6 756.6 5.2% 3'107.7 3'009.2 3.3%

Organic growth 26.2 3.4% 144.4 4.8% 2

Choose Insert from File, EBITDA² 44.0 40.0 10.0% 142.4 168.6 (15.5%) find the image and click 2015 adjustments 27.0 ´Insert´

Insert

Adjusted EBITDA 44.0 40.0 10.0% 169.4 168.6 0.5%

Adjusted EBITDA margin 5.8% 5.3% 0.5 pp 5.7% 5.6% 0.1 pp 3

If needed, select picture

Adjusted EBITDA @CC 46.9 40.0 17.3% 180.8 168.6 7.2% and ‘Send to Back’

Adjusted EBITDA margin @CC 5.9% 5.3% 0.6 pp 5.8% 5.6% 0.2 pp

1. At constant currency 2. EBITDA refers to Segment EBITDA throughout the presentation Note: Figures may not add up due to rounding 2015 Full Year results Source: gategroup portfolio statistics TEXT & GRAPH (2) SLIDE TEXT LEVELS INSERT GRAPH Gateway 2020 strategy elements 3 Four pillars to drive cash flow generation 1

1 Typ-text (14pt) Delete existing graph and click on the icon to insert 2 • First Bullet (14 pt) Key strategic pillars Enablers Results a new one. 3 • Second Bullet (14 pt) As announced in Sep 2015

4 Bold text (14 pt)

” . Airlines & leverage facilities Focus on the Core . Consolidation of gategroup brands

growth 2

Revenue Revenue

gategroup Search and select the . Customer focus & segmentation Commercial graph you wish to insert innovation . New retail on board offering and click´Insert´

Insert

margin margin EBITDA EBITDA

. Focus on Emerging Market carriers increase Geographic . Focus on APAC, Latam, Africa and expansion EDIT A CHART Middle East airports / locations Cash flow generation flow Cash Right-click on chart area of the slide. Click ´Edit . Standardization Standardization Data…´ . Organization efficiency mgmt

and efficiency “one = organization Simplified

. Direct & indirect cost optimization

TWC / capex capex / TWC Tax, financing, financing, Tax,

2015 Full Year results TEXT & GRAPH (2) SLIDE TEXT LEVELS INSERT GRAPH Progress on strategy implementation 4 Year of change—alignment, delivery and acceleration 1

1 Typ-text (14pt) Q2 2015 Q3 2015 Q4 2015 Q1 2016 Delete existing graph and click on the icon to insert 2 • First Bullet (14 pt) Gateway 2020 Gateway 2020 a new one. co-produced by BoD announced  Additional strategic contracts Focus on 3 • Second Bullet (14 pt) and senior management renewed with CHF 170m the Core  Strategic contracts renewed revenue pa Bold text (14 pt) with CHF 90m revenue pa  Total LTM renewals value 4 of more than CHF 540m  Building unified culture  Retention ratio of 82% in 2015 revenue pa under “one gategroup”  Regional realignment of the organization  ZBB opportunities identified  ZBB on track with savings Standardization 2  New Commercial Committee  ~1/2 of targeted overhead confirmed and plans launched and Efficiency  New organizational structure and Investment Committee reduction completed  Global procurement stabilized  EMB² reduced from 10 to 5  ZBB started Search and select the New  Global functions centralized  Reorganization 2.0 launched  Restructuring measures  300 FTEs identified for reduction  First refinancing finalized graph you wish to insert BoD¹ initiated  New short-term incentive plan and and click´Insert´ new  IFS acquisition completed, CEO Retail on  Launch of Centres of  IFS acquisition announced integration plan well in Insert Excellence—unified view —retail on board step-up progress board and  Strategic contract win in retail commercial on board—for all 5 tour innovation operator airlines of TUI Group EDIT A CHART  Works on business development opportunities pipeline started Right-click on chart area  President APAC relocated to  Footprint expanded in Singapore Emerging Markets  ~20 business development of the slide. Click ´Edit (Kazakhstan) opportunities identified, Data…´ centered around Emerging Geographic Markets expansion

4 BoD meetings³ 3 BoD meetings 5 BoD meetings 4 BoD meetings

1. Board of Directors 2. Executive Management Board 2015 Full Year results 3. Includes meetings and calls TEXT & GRAPH (2) SLIDE TEXT LEVELS INSERT GRAPH Gateway 2020–2015 achievements 5 Delivery vs guidance 1

1 Typ-text (14pt) Initiatives Target 2015 delivery Delete existing graph and

click on the icon to insert Organic . 4.8% organic revenue growth 2 • First Bullet (14 pt) +3-5% pa . Compensation for price growth a new one. . More than CHF 540m revenue pa from strategic contract renewals pressure from contract 3 • Second Bullet (14 pt) renewals / increase in Deals . IFS acquisition announced in Dec 2015 and completed in Feb 2016 labor cost (e.g. USA) with and other 4 Bold text (14 pt) M&A . Integration plan with IFS established financial . Development of new Revenue growthRevenue discipline . CHF 6m annualized synergies confirmed commercial offering for sustainably improved . 300 FTEs identified, ~1/2 of targeted reduction completed in 2015 pricing 2 Organization Overhead . Run-rate savings to be in the range of CHF 20m pa . Start-up of new efficiency reduction operations . 6-12 months implementation (full impact expected in 2017) Search and select the graph you wish to insert . Savings to be at the 10-25% midpoint of the addressable operational . Cost savings and click´Insert´ spend of about CHF 400m 10-25% . Improved operational Cost reduction . Wide range of cost categories with some larger positions to generate efficiencies efficiency Insert in SG&A¹ savings only later in the process (e.g. facility cost savings) . Enhanced procurement . 18 months implementation (full impact expected in year-end 2017) EDIT A CHART

Margin improvement Margin

Operational efficiencies Operational . Restructuring of underperforming activities Right-click on chart area

and flexibility . Global procurement reinforced with a stronger and more focused team of the slide. Click ´Edit procurement Data…´

EBITDA margin . New five-year EUR 240m RCF, replacing EUR 100m RCF; excess cash expansion of Decrease Full debt used to redeem EUR 100m of EUR 350m HY Bond (phase I) +25-50bps pa in financing refinancing delivered in H2 2015 cost . Full redemption of EUR 250m HY Bond (phase II) with a new five-year

EUR 250m unsecured term loan and confirmed for 2016 Cash flow Cash generation

1. Selling, General and Administrative Expenses 2015 Full Year results 2015 Full Year results

1 Highlights 2 Financials 3 Investors & governance 4 Conclusion PHOTO(1) SLIDE INSERT PICTURE

Revenue performance 7 Robust organic growth continues in Q4 2015 1 Right-click on existing . 2015 reported revenue of CHF 2’996.4 million, compared to CHF 3’009.2 million in 2014 picture and choose Fill/ . 3.3% increase in revenue @CC (up to CHF 3’107.7 million) Picture or Texture Fill. . Organic growth of 4.8% . Wins / losses of (1.2)% . M&A of (0.3)% . FX of (3.7)% 2

Revenue by quarter Revenue development 2013-2015 Choose Insert from File, find the image and click 828.9 3'107.7 815.7 818.6 3'002.2 3'009.2 2'996.4 ´Insert´ 779.4 757.4 762.7 745.2 756.6 721.1 Insert 686.0 666.3 669.9

3

If needed, select picture Q1 Q2 Q3 Q4 20132013 20142014 2015 and ‘Send to Back’ 2013 2014 2015 Reported @CC

CHF 3’107.7 million revenue (@CC), up by 3.3%

Notes: All figures in CHF million Figures may not add up due to rounding 2015 Full Year results Source: gategroup portfolio statistics PHOTO(1) SLIDE INSERT PICTURE

EBITDA performance 8 Positive momentum from Q3 2015 continues 1 Right-click on existing . 2015 EBITDA of CHF 142.4 million, compared to CHF 168.6 million in 2014 picture and choose Fill/ Picture or Texture Fill. . Adjusted EBITDA of CHF 169.4 million with adjustments (booked in H1 2015) including: . CHF 10.3m due to US labor settlement . CHF 16.7m due to provisions and other . Adjusted EBITDA @CC of CHF 180.8 million 2

EBITDA by quarter EBITDA development 2013-2015 Choose Insert from File, find the image and click 180.8 168.1 168.6 68.0 68.6 169.4 ´Insert´ 65.0 26.2 27.0

154.6 Insert 42.6 44.0 142.4 41.5 40.5 40.0

36.4 21.1 18.0 20.4 17.5 3 9.5 18.9 10.9 If needed, select picture Q1 Q2 Q3 Q4 20132013 20142014 2015 and ‘Send to Back’ 2013 2014 2015 Adjustments Reported @CC Adjustments

CHF 180.8 million adjusted EBITDA (@CC), up by 7.2%

Notes: All figures in CHF million Figures may not add up due to rounding 2015 Full Year results Source: gategroup portfolio statistics PHOTO(1) SLIDE INSERT PICTURE

Performance by region 9 Summary 1 Right-click on existing EMEA North America picture and choose Fill/ Revenue Adjusted EBITDA Revenue Adjusted EBITDA Picture or Texture Fill. Change (5.5)% (0.1)% (9.5)% (2.8)% Change 9.5% 6.4% 17.1% 13.3%

1'530. 1'529. 1'045. 1’530.7 1’529.3 1’045.4 1'016. 42.4 7 1'447. 3 96.2 4 1’016.2 41.0 1’447.2 93.5 2 2 87.1 954.8 36.2

6.3% 6.0% 6.1% 3.8% 4.1% 4.0% 2

Choose Insert from File, 2014 2015 2015 @CC 2014 2015 2015 @CC 2014 2015 2015 @CC 2014 2015 2015 @CC find the image and click ´Insert´ Latam APAC Insert Revenue Adjusted EBITDA Revenue Adjusted EBITDA Change 3.2% 19.3% 0.4% 21.5% Change (8.1)% (0.6)% 26.9% 38.8%

253.3 18.6 3 27.7 322.8 320.8 17.0 212.3 219.1 296.6 22.8 22.9 13.4 If needed, select picture and ‘Send to Back’

10.7% 10.5% 10.9% 4.2% 5.7% 5.8%

2014 2015 2015 @CC 2014 2015 2015 @CC 2014 2015 2015 @CC 2014 2015 2015 @CC

Notes: All figures in CHF million Figures exclude eliminations of CHF 11.9m in 2015 and CHF 11.4m in 2014 2015 Full Year results Figures may not add up due to rounding Source: gategroup portfolio statistics TEXT & GRAPH (2) SLIDE TEXT LEVELS INSERT GRAPH Strategic contract renewals 10 Track record of high-quality and consistent service is a key factor of our partnerships 1

1 Typ-text (14pt) Delete existing graph and click on the icon to insert

2 • First Bullet (14 pt) a new one. Customer

3 • Second Bullet (14 pt) . A multi-year . A three-year . A seven-year . A multi-year . A five-year . A multi-year 4 Bold text (14 pt) contract renewal contract renewal contract renewal contract renewal contract contract renewal Length

. Catering, . Catering, . Catering, . Catering and . Retail on board . Catering and provisioning and provisioning and provisioning and provisioning services incl. provisioning global distribution end-to-end coverage of services management of services 2 services solutions for SAS’s entire F&B retail, duty

distribution and inflight supply free items and

product chain pre-order sales Search and select the Services innovation (the latter in the graph you wish to insert UK and Nordics and click´Insert´

only) Agreement

. and . Domestic . 7 Scandinavian . Washington . All locations of . Los Angeles, Insert

Amsterdam locations across airports incl. 3 Dulles, San the 5 tour multiple other US Canada main hubs at Francisco, operator airlines and Canadian Copenhagen, , San of TUI Group locations and EDIT A CHART Stockholm / Diego, Sydney American Eagle Arlanda and and other in Dallas Fort Right-click on chart area Key locationsKey Oslo locations Worth of the slide. Click ´Edit

Data…´

Jan 2015 Feb 2015 Oct 2015 Jan 2016 Jan 2016 Feb 2016 Date

Strategic contract renewals of more than CHF 540 million revenue pa

2015 Full Year results TEXT & GRAPH (2) SLIDE TEXT LEVELS INSERT GRAPH Acquisition of Inflight Service Group 11 Excellent strategic fit with gategroup’s retail on board 1

1 Typ-text (14pt) Delete existing graph and The largest operator in retail on board market globally, LCC and charter markets in Europe click on the icon to insert 2 • First Bullet (14 pt) a new one. 3 • Second Bullet (14 pt) #1 Retail on board market (global) #1 LCC market (Europe) #1 Charter market (Europe)

4 Bold text (14 pt) CHF 5bn CHF 500m CHF 550m

30% Airline 70% Airline Other in-house 92% in-house 15% Other 2 70% 8% 15% Search and select the

Category 2 Category 3 graph you wish to insert and click´Insert´ Extensive blue-chip customer portfolio as well as immediate access to Business Intelligence and powerful end-customer data of 175m pax annually Insert

EDIT A CHART Right-click on chart area Substantial increase in revenue and EBITDA in a debt-free, EPS accretive transaction of the slide. Click ´Edit Data…´ . More than CHF 240m revenue and CHF 13.4m EBITDA . CHF 6m annualized synergies starting in 2016 and increasing through 2017-18 . Strong accretion to cash EPS in Year 1 of 6.5% pre-synergies and 12.0% post-synergies¹ . Post-merger integration on track

1. Based on analysts’ consensus as of 30 Nov 2015 (pre-acquisition) 2015 Full Year results Source: gategroup analysis 2015 Full Year results

1 Highlights 2 Financials 3 Investors & governance 4 Conclusion PHOTO(1) SLIDE INSERT PICTURE

Revenue bridge 13 Robust organic growth of 4.8% 1

1 Right-click on existing Mostly driven by growth in picture and choose Fill/ North America, EMEA 2 Picture or Texture Fill. and Latam Deconsolidation of 2 Shanghai operations Net / win loss ratio of (1.2)% (July 2014)

3 FX impact of (3.7)%

90.9 (128.5) (8.3) 2 144.4 (111.3) Choose Insert from File, find the image and click 3’107.7 ´Insert´ 3’009.2 2’996.4 Insert

2014 Organic growth Wins Losses M&A 2015 @CC FX 2015 3

Impact 4.8% 3.0% (4.3)% (0.3)% 3.3% (3.7)% (0.4)% If needed, select picture and ‘Send to Back’

CHF 3’107.7 million revenue (@CC), up by 3.3%

Notes: All figures in CHF million Figures may not add up due to rounding 2015 Full Year results Source: gategroup portfolio statistics PHOTO(1) SLIDE INSERT PICTURE

EBITDA bridge 14 Robust organic growth of 8.8% 1

1 Right-click on existing Mostly driven by growth in picture and choose Fill/ North America, Latam Picture or Texture Fill. and APAC 2 US labor settlement, provisions and other Net / win loss ratio of (0.9)%

3 FX impact of (7.2)%

14.8 20.3 (21.9) (1.0) 2 (26.2) (12.2) Choose Insert from File, 2 find the image and click Deconsolidation of 168.6 180.8 ´Insert´ Shanghai operations 154.6 142.4 (July 2014) Insert

2014 Organic Wins Losses M&A Adjusted Adjustments 2015 @CC FX FY 2015 growth 2015 @CC @CC 3

Impact 8.8% 12.0% (13.0)% (0.6)% 7.2% (15.5)% (8.3)% (7.2)% (15.5)% If needed, select picture EBITDA 5.6% 5.8% 5.0% 4.8% margin and ‘Send to Back’

CHF 180.8 million adjusted EBITDA (@CC), up by 7.2%

Notes: All figures in CHF million Figures may not add up due to rounding 2015 Full Year results Source: gategroup portfolio statistics PHOTO(1) SLIDE INSERT PICTURE

1 Organic growth drivers 15 Flight volume and load factors development indicates a rising demand of air catering services 1 Right-click on existing OAG flight volume picture and choose Fill/ 2015 OAG International Schedules – Group Like-for-Like 2015 OAG Domestic Schedules – Group Like-for-Like Index = month (n) 2015 / month (n) 2014 Actuals Index = month (n) 2015 / month (n) 2014 Actuals Picture or Texture Fill. 106 106 2015 OAG 2015 OAG Base 2014A Base 2014A 104 104

102 102

100 100 2 98 98 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Choose Insert from File, International flights stable with volume increase Strong global domestic flight departures throughout the year find the image and click towards the end of the year ´Insert´

Load factors trends Insert

gategroup’s international load factor trend gategroup’s domestic load factor trend

2013 2014 2015 88.0% 88.0% 3

84.0% 84.0% If needed, select picture and ‘Send to Back’ 80.0% 80.0%

76.0% 76.0% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

International load factors in line with the prior year Despite capacity increases load factors higher than previous year

Source: Official Airline Guide schedules 2015 Full Year results PHOTO(1) SLIDE INSERT PICTURE

2 Wins/losses and M&A drivers 16 Significantly higher EBITDA margin of won vs lost business 1 Right-click on existing Impact Drivers picture and choose Fill/ Picture or Texture Fill. Revenue . Emirates in , Ireland and USA CHF 90.9m . in Switzerland, UK and the USA Wins . Virgin Atlantic in the USA

EBITDA CHF 20.3m . LATAM in Brazil EBITDA margin 22% . Etihad in Europe ( and Spain) and Hong Kong 2

Choose Insert from File, Revenue . United Airlines in EMEA (warehousing and distribution) CHF (128.5)m find the image and click . Norwegian in EMEA ´Insert´ Losses . Virgin Atlantic in the USA Insert EBITDA CHF (21.9)m . Jazz in Canada EBITDA margin 17% . Spirit Airlines in the USA

3

Revenue If needed, select picture CHF (8.3)m and ‘Send to Back’ . Deconsolidation of Shanghai operations (reduction of M&A participating interest from 80% to 29%) EBITDA CHF (1.0)m

Source: gategroup portfolio statistics 2015 Full Year results PHOTO(1) SLIDE INSERT PICTURE

3 Foreign exchange development 17 Revenues / costs generated in matching foreign currencies create natural hedge 1 Right-click on existing 2015 revenue by currency 2015 average currency movement vs CHF picture and choose Fill/ BRL INR USD EUR GBP AUD CAD DKK NOK SEK ARS Picture or Texture Fill. JPY 3% 2% 2% FY 2015 impact on 5.4% ARS Other² revenue (in CHF m) 1% 8% USD 44.8 EUR (56.7) DKK/NOK/SEK USD 1% GBP (8.1) CAD 34% 5% ARS (5.9) (2.3%) AUD AUD (21.7) 5% CAD (15.9) NOK/SEK (14.7) (6.9%) JPY (4.0) (9.1%) 2 CHF¹ BRL (15.1) (11.9%) (12.0%) 14% Other (14.0) (12.3%) EUR gategroup total (111.3) (14.3%) Choose Insert from File, GBP 14% (17.6%) 11% find the image and click ** ´Insert´

USD / CHF development EUR / CHF development Insert

0.99 1.00 1.24 1.23 1.23 1.22 1.22 1.22 0.96 0.97 1.21 1.20 0.94 0.95 0.94 0.94 0.92 0.90 0.88 0.89 3 1.09 1.09 If needed, select picture 1.05 1.04 and ‘Send to Back’

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2014 2015 2013 2014 2015

1. Currency of domicile of the company 2. Other include CLP, CNY, COP, HKD, KZT, MXN, NZD, PEN, PHP, PKR, SAR, SGD, THB, TRY and ZAR Note: 2015 Full Year results Figures may not add up due to rounding Source: gategroup portfolio statistics PHOTO(1) SLIDE INSERT PICTURE

Income statement 18 Adjustments booked in H1 2015 impacted FY reported EBITDA and EBIT 1 Right-click on existing

2015 picture and choose Fill/ 2015 adjusted Picture or Texture Fill. in CHF m 2015 % Adjustments adjusted % @CC % 2014 %

Revenue 2'996.4 100.0% 2'996.4 100.0% 3'107.7 100.0% 3'009.2 100.0%

Cost of sales (1'231.3) (41.1%) (1'231.3) (41.1%) (1'270.0) (40.9%) (1'255.8) (41.7%)

Personnel costs (1'151.9) (38.4%) 10.3 (1'141.6) (38.1%) (1'188.9) (38.3%) (1'143.7) (38.0%)

Opex (470.8) (15.7%) 16.7 (454.1) (15.2%) (468.0) (15.1%) (441.1) (14.7%) 2 EBITDA 142.4 4.8% 27.0 169.4 5.7% 180.8 5.8% 168.6 5.6%

Management fees 1.1 1.1 1.1 0.7 Choose Insert from File,

D&A (58.9) (58.9) (60.6) (56.7) find the image and click ´Insert´ Other operating costs (44.6) 34.6 (10.0) (13.8) (9.8)

EBIT 40.0 1.3% 61.6 101.6 3.4% 107.5 3.5% 102.8 3.4% Insert

(62.7) (62.7) (44.4) Finance cost

Share of associate profit 2.0 2.0 2.8

3 FX (23.8) (23.8) (0.3)

(Loss)/profit before tax (44.5) 61.6 17.1 60.9 If needed, select picture

Income tax (17.6) (17.6) (20.1) and ‘Send to Back’

Minority interest (1.3) (1.3) (1.9)

Net (loss)/profit for the period¹ (63.4) 61.6 (1.8) 38.9

1. Attributable to shareholders Note: Figures may not add up due to rounding 2015 Full Year results Source: gategroup portfolio statistics

PHOTO(1) SLIDE INSERT PICTURE

Balance sheet 19 Reduction of borrowings thanks to flexible financing and effective cash management 1 Right-click on existing Assets Liabilities picture and choose Fill/ in CHF m 2015 2014 in CHF m 2015 2014 Picture or Texture Fill. Plant, property & equipment 284.4 309.8 Total borrowings 342.7 426.9 Goodwill 283.6 299.3 Provisions 69.6 53.2 Other intangibles 128.5 131.8 Retirement benefit obligations 192.4 196.8 Other non-current assets 95.7 107.7 Other non-current liabilities 17.4 19.5

163.0 186.5 Inventory 101.9 97.5 Trade payables Other current payables incl. income tax payables 69.0 87.3 Trade receivables 284.7 291.7 Accrued expenses 298.9 277.5 Other current receivables and other current assets 104.9 116.8 Cash & cash equivalents 102.6 183.8 Shareholder’s equity & non-controlling interest 233.3 290.7 2

Total assets 1'386.3 1'538.4 Total equity & liabilities 1'386.3 1'538.4 Choose Insert from File, find the image and click ´Insert´ Balance sheet summary Insert

Plant, property & equipment 284.4 233.3 Equity 3 240.1 Net debt Intangible assets 412.1 If needed, select picture 279.4 Other non current liabilities and ‘Send to Back’ Other non-current assets 95.7

Trade working capital 223.6 298.9 Accrued expenses 207.5 Other current assets 69.0 Other current liabilities Assets Liabilities Notes: All figures in CHF million Figures may not add up due to rounding 2015 Full Year results Source: gategroup portfolio statistics PHOTO(1) SLIDE INSERT PICTURE

Cash flow statement 20 Cash flow improvement driven by reduced capex and positive working capital 1 Right-click on existing Cash flow summary Net working capital evolution (CHF m) picture and choose Fill/ 300 Picture or Texture Fill. in CHF m 2015 2014 250 EBITDA 142.4 168.6 200 Change in trade receivables (14.3) (6.1) 150 Change in inventory (9.9) (7.5) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Change in trade payables (12.6) 13.4 Change in other current assets / liabilities 39.6 (12.7) Net working capital as % of revenue evolution (%) 2 Changes in working capital 2.8 (12.9) 10% Choose Insert from File, Changes in provisions, tax and other (29.1) (36.5) 9% find the image and click

8% ´Insert´ Cash generated from operations 116.1 119.2 7%

6% Insert Capex¹ (49.0) (53.4) 5% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Free cash flow 67.1 65.8 Capex and capex as % of revenue (CHF m / %) 3 80 2.1% Interest (48.3) (29.4) If needed, select picture Income taxes (18.5) (14.9) 60 1.4% and ‘Send to Back’ Other investing and financing activities (55.0) (2.2) 40 Dividends paid (13.1) (11.0) 0.7% 20

Change in cash (67.8) 8.3 0 0.0% Q1 Q2 Q3 Q4 2014 2015 1. Net of proceeds from sale of assets Note: Figures may not add up due to rounding 2015 Full Year results Source: gategroup portfolio statistics PHOTO(1) SLIDE INSERT PICTURE

Debt information 21 Refinancing resulting in annual interest cost savings of about CHF 16 million 1 Right-click on existing Fully refinanced debt structure New financing structure picture and choose Fill/ . Mar 2015—signed a new five-year EUR 240m revolving . EUR 240m revolving credit facility Picture or Texture Fill. credit facility, replacing EUR 100m revolving credit facility due to mature in Jun 2016 . EUR 250m unsecured term loan . Excess cash used to redeem EUR 100m of 6.75% coupon bearing EUR 350m High Yield Bond (phase I) . Total annual interest cost reduced to ~CHF 10m at year- end 2015 utilization level vs previous costs of ~CHF 26m . Nov 2015—full redemption of 6.75% coupon bearing EUR 250m High Yield Bond (phase II) with a new five-year EUR 250m unsecured term loan 2 Choose Insert from File, find the image and click Leverage ratio ´Insert´

4.00x Insert

3.00x 3.00x 3.00x 3.00x 3.00x 2.50x 2.50x 2.50x 2.50x 2.50x 3 2.00x 1.82x 1.84x 1.80x 1.77x 1.69x 1.55x 1.68x 1.44x 1.58x If needed, select picture 1.00x and ‘Send to Back’

0.00x Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015

Net debt / EBITDA max ceiling Net debt / EBITDA head room Net debt / EBITDA usage

Source: gategroup portfolio statistics 2015 Full Year results 2015 Full Year results

1 Highlights 2 Financials 3 Investors & governance 4 Conclusion PHOTO(1) SLIDE INSERT PICTURE

Equity 23 Strong and diversified international investor base supports share price performance 1 Right-click on existing Shareholder structure Shareholder structure by country² picture and choose Fill/ Picture or Texture Fill. Switzerland Shareholder Current position 18% RBR and Camox Funds¹ 11.27% USA Luxembourg BlackRock Inc. 5.02% 35% 4% UK Credit Suisse Funds AG 4.99% Norway 4% Wellington Management Group LLP 4.31% Germany 5% Rest of World Norges Bank 3.33% 2 Deutsche Bank AG 3.09% 8% UBS Fund Management SA 3.08% Choose Insert from File, 26% find the image and click ´Insert´ 2015 gategroup share price performance vs. SMI³ Average trading volume

45 gategroup share price increased 52.6% YoY 150 gategroup average trading volume 2009-15 grew at CAGR of 10% Insert

119.8

40

100 3 35 78.6 79.0 82.8 72.5 68.2

price (in CHF) (in price 55.5 If needed, select picture

30 thousand) (in

50 and ‘Send to Back’ Share Share 25

20 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2009 2010 2011 2012 2013 2014 2015

Closing Price SMI 1. Includes RBR Funds SICAV, RBR European Long Short Master Fund, RBR Strategic Value Ltd and Camox Master Fund 2. Sourced from Bloomberg as of Feb 2016 3. SMI rebased to gategroup share price as of Jan 2015 2015 Full Year results Source: SIX Swiss Stock Exchange and Bloomberg TEXT & GRAPH (2) SLIDE TEXT LEVELS INSERT GRAPH Executive Management Board members 24 Superb sector, M&A and restructuring experience combined with deep understanding of gategroup 1 Delete existing graph and 1 Typ-text (14pt) President Chief Executive Officer Chief Financial Officer President APAC Americas & EMEA click on the icon to insert Xavier Rossinyol Christoph Schmitz Jann Fisch 2 • First Bullet (14 pt) Herman Anbeek a new one.

3 • Second Bullet (14 pt)  20+ years in airline service  25+ years in international  20+ years in airline and  20+ years in airline service and catering sectors companies across Europe, airline service industries and catering industries 4 Bold text (14 pt) North America, Asia and  20+ years in world-leading Australia in consumer and  25+ years in world-leading  20+ years in world-leading companies industrials sectors companies across Europe companies across Europe and North America and Australia  12+ years in C-level roles  20+ years in C-level roles 2 (as CFO, COO and CEO) (as CFO and CEO)  13+ years in C-level roles  14+ years in C-level roles (as CCO and regional CEO) (as CCDO and regional Search and select the  Outstanding experience in  Essential experience in CEO) graph you wish to insert material turn-arounds and optimizing organizational  5 years in consumer sector business restructuring structures as well as  5 years in consumer sector and click´Insert´ restructuring and  Valuable experience in refinancing execution Insert global M&A and post- merger integrations across  Significant experience in several continents conducting cross-border EDIT A CHART M&A activities Right-click on chart area of the slide. Click ´Edit Data…´

2015 Full Year results TEXT & GRAPH (2) SLIDE TEXT LEVELS INSERT GRAPH Board of Directors members 25 Board with long-standing international and broad sector expertise 1 Delete existing graph and 1 Typ-text (14pt) . Chaired by Andreas Schmid, gategroup’s Board of Directors is currently composed of seven non-executive members click on the icon to insert 2 • First Bullet (14 pt) . The Board members were elected at the Annual General Meeting on 16 Apr 2015 a new one. 3 • Second Bullet (14 pt) 4 Bold text (14 pt) Chairman of the Board Audit Committee Andreas Schmid Remo Brunschwiler David Barger Gerard van Kesteren

2

Search and select the Chairman of the Board Vice Chairman of the Board Member of the Board Member of the Board graph you wish to insert 15+ years experience as Chairman 25+ years experience in logistics 30+ years experience in airline 25 years experience in logistics and click´Insert´ and 30+ years in airline, travel, sector, 10+ years as a CEO and sector and 8 years as a CEO sector and 15 years as a CFO consumer and logistics sectors 4 years as Member of the Board Insert Nomination and Compensation Committee Anthonie Stal Frederick Reid Julie Southern EDIT A CHART Right-click on chart area of the slide. Click ´Edit Data…´

Member of the Board Member of the Board Member of the Board 25+ years experience in food / 30+ years experience in airline 15+ years experience in airline consumer sector and 10+ years as sector and 15+ years sector and 10 years as a CFO Member of the Board in C-level roles Board members since AGM 2015

2015 Full Year results TEXT & GRAPH (2) SLIDE TEXT LEVELS INSERT GRAPH Expertise of Board of Directors 26 Summary 1

1 Typ-text (14pt) Delete existing graph and Name Position Age Citizenship On BoD since Experience click on the icon to insert 2 • First Bullet (14 pt) . Chairman of Oettinger Davidoff, since 2007 a new one. Andreas . Chairman of , since 2000 Chairman 58 Swiss 2007 3 • Second Bullet (14 pt) Schmid . Various positions at Barry Callebaut, since 1995, Chairman, Vice Chairman and CEO 4 Bold text (14 pt)

Remo . CEO of Selecta, since 2013 Director 57 Swiss 2012 Brunschwiler . CEO of Swisslog Holding AG, 2003-2012

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Anthonie . Various senior positions at Unilever, 1991-2008, including Group VP of Director 62 Dutch 2009 Stal Unilever NV, President Marketing Foods and Chairman of Unilever Bestfoods Search and select the

graph you wish to insert and click´Insert´ David . CEO of JetBlue Airways, 2007-2015 Director 58 US 2015 Barger . President of JetBlue Airways, 1998-2013 Insert

. CCO at Virgin Atlantic Airways, 2010-2013 Julie Southern Director 56 British 2015 . CFO of Virgin Atlantic Airways, 2000-2010 EDIT A CHART . Group Finance Director at Porsche, 1996-2000

Right-click on chart area of the slide. Click ´Edit Frederick . CEO of Virgin America, 2004-2008 Director 65 US 2015 . Various senior positions at , 1998-2004, President and COO, as Data…´ Reid well as Chief Marketing Officer

Gerard van Director 67 Dutch 2015 . CFO of Kuehne Nagel, 1999-2014 Kesteren

2015 Full Year results 2015 Full Year results

1 Highlights 2 Financials 3 Investors & governance 4 Conclusion TEXT & GRAPH (2) SLIDE TEXT LEVELS INSERT GRAPH Conclusion 28 2015 was a real turnaround year 1

1 Typ-text (14pt) Delete existing graph and 1 Improved FY 2015 performance with revenue growth of 3.3% @CC up to CHF 3’107.7 million click on the icon to insert 2 • First Bullet (14 pt) . Organic growth of 4.8% a new one. 3 • Second Bullet (14 pt) . Net win / loss ratio of (1.2)% . M&A of (0.3)% 4 Bold text (14 pt) . FX of (3.7)%

2 FY 2015 adjusted EBITDA @CC up by 7.2% to CHF 180.8m (5.8% adjusted EBITDA @CC margin vs. 5.6% in 2014); adjustments (booked in H1 2015) include: 2 . CHF 10.3m due to US labor settlement . CHF 16.7m due to provisions and other Search and select the graph you wish to insert 3 Significant acceleration in H2 2015 vs H2 2014 @CC and click´Insert´ . 4.2% revenue growth up to CHF 1’652.6 million Insert . 11.5% EBITDA growth up to CHF 120.4 million . 7.3% EBITDA margin vs. 6.8% in H2 2014 (+47bps EBITDA margin improvement) EDIT A CHART 4 Full debt refinancing resulting in substantial annual interest cost savings of CHF 16 million Right-click on chart area of the slide. Click ´Edit 5 Gateway 2020 strategy embedded and advancing in all fronts Data…´ . Focus on the Core—major contract renewals completed with revenue value of more than CHF 540m pa . Commercial innovation—considerable retail on board step up thanks to IFS acquisition; integration plan established and well in progress . Geographic expansion—push into Emerging Markets advanced with presence established in Kazakhstan . Standardization and efficiency—significant progress on ZBB and FTE reduction

2015 Full Year results Thank you PHOTO(1) SLIDE INSERT PICTURE

Disclaimer 30 1

Right-click on existing picture and choose Fill/ No warranty and no liability: While we make great efforts to include accurate and up-to-date information, we Picture or Texture Fill. make no representations or warranties, expressed or implied, as to the accuracy or completeness of the information provided on this presentation and disclaim any liability for the use of it.

No offer and no solicitation: The information provided in this presentation does not constitute an offer of or solicitation for the purchase or disposal, trading or any transaction in any gategroup securities. Investors must not rely on this information for investment decisions. 2

Forward-looking information: This presentation contains forward-looking statements and other statements that Choose Insert from File, are not historical facts. The words “believe”, “anticipate”, “plan”, “expect”, “project”, “estimate”, “predict”, find the image and click “intend”, “target”, “assume”, “may”, “will”, “could” and similar expression are intended to identify such forward- ´Insert´ looking statements. Such statements are made on the basis of assumptions and expectations that we believe to be reasonable as of the date of this presentation, but may prove to be erroneous and are subject to a Insert variety of significant uncertainties that could cause actual results to differ materially from those expressed in forward-looking statements. Among these factors are changes in overall economic conditions, changes in demand for our products, changes in the demand for, or price of, oil, risk of terrorism, war, geopolitical or other exogenous shocks to the airline sector, risks of increased competition, manufacturing and product 3 development risks, loss of key customers, changes in government regulations, foreign and domestic political and legislative risks, risks associated with foreign operations and foreign currency exchange rates and If needed, select picture controls, strikes, embargoes, weather-related risks and other risks and uncertainties. We therefore caution and ‘Send to Back’ investors and prospective investors against relying on any of these forward-looking statements. We assume no obligation to update forward-looking statements or to update the reasons for which actual results could differ materially from those anticipated in such forward-looking statements, except as required by law.

2015 Full Year results