Amadeus It Group Sa Class A · BME:AMS

Amadeus It Group Sa Class A — Amadeus Global Travel Distribution — Merger or Acquisition (June 2004)

11 slides from Amadeus It Group Sa Class A's merger presentation, Jun 15, 2004

1. Slide 1: Presentation of investment in Opodo

   © copyright 2004 - AMADEUS Global Travel Distribution S.A. / all rights reserved / unauthorized use and disclosure strictly forbidden June 15th, 2004 1

2. Slide 2: Disclaimer

   Disclaimer © copyright 2004 - AMADEUS Global Travel Distribution S.A. / all rights reserved / unauthorized use and disclosure strictly forbidden There are statements in this presentation and those that follow which are not purely historical facts, including statements about anticipated or expected f

3. Slide 3: Market Opportunity

   Market Opportunity The European on-line travel market is expected to grow rapidly © copyright 2004 - AMADEUS Global Travel Distribution S.A. / all rights reserved / unauthorized use and disclosure strictly forbidden European Online Travel Market Size(1) Online Travel Penetration(1) €mn 30,000 27,900

4. Slide 4: Amadeus Present in all Channels

   Amadeus Present in all Channels © copyright 2004 - AMADEUS Global Travel Distribution S.A. / all rights reserved / unauthorized use and disclosure strictly forbidden Travel Providers OFF-LINE ON-LINE 90% 10% Indirect Direct Indirect Direct Travel Agency Airline Offices Travel Agency Airline.com Trav

5. Slide 5: Opodo: Key for Amadeus Leisure

   Opodo: Key for Amadeus Leisure © copyright 2004 - AMADEUS Global Travel Distribution S.A. / all rights reserved / unauthorized use and disclosure strictly forbidden • US experience proves that the online platform is key for leisure distribution 100% 90% 80% In the US online travel 70% 60% 73% 66% ma

6. Slide 6: Amadeus + Opodo in Europe

   Amadeus + Opodo in Europe % Ownership Market position by air sales © copyright 2004 - AMADEUS Global Travel Distribution S.A. / all rights reserved / unauthorized use and disclosure strictly forbidden Scandinavia United Kingdom TravelLink 85% Market Position 3 Market Position #4 France France Vivaca

7. Slide 7: Transaction Structure

   Transaction Structure © copyright 2004 - AMADEUS Global Travel Distribution S.A. / all rights reserved / unauthorized use and disclosure strictly forbidden Key Terms Investment  €62 million Transaction Consideration  Subscription of capital increase Expected Positive EBITDA  End of 2006 Convertib

8. Slide 8: Appendix

   © copyright 2004 - AMADEUS Global Travel Distribution S.A. / all rights reserved / unauthorized use and disclosure strictly forbidden Appendix 8

9. Slide 9: Financial Background

   Financial Background © copyright 2004 - AMADEUS Global Travel Distribution S.A. / all rights reserved / unauthorized use and disclosure strictly forbidden Opodo Financial Highlights Fiscal Year End December 31st (1) Euro '000 2001A 2002A 2003A(2) Gross Sales(3) 493 154,582 327,963 Turnover(4) 8 6,02

10. Slide 10: Post Deal Shareholders Structure

    © copyright 2004 - AMADEUS Global Travel Distribution S.A. / all rights reserved / unauthorized use and disclosure strictly forbidden Amadeus 55% Post Deal Shareholders Structure Airlines 45% 10

11. Slide 11: 2003 European Online Travel Market

    2003 European Online Travel Market © copyright 2004 - AMADEUS Global Travel Distribution S.A. / all rights reserved / unauthorized use and disclosure strictly forbidden By Country By Product Res t of Europe Rental Cars Other 19% Rail 2% 2% UK 9% 39% Package Nordic Tours 10% 13% France Germany 11% 21

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