Q3 2026 Earnings Presentation

Q3 2026

Earnings Report

®

Kurt Ekert

President and Chief Executive Officer

Mike Randolfi

Chief Financial Officer

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Revenue

Normalized Adjusted EBITDA

Total Marketplace Bookings

+$23M

(+3%)

+$20M

(+13%)

Flat

Normalized Adjusted EBITDA is a non-GAAP measure. See slide 2 and appendix for a discussion of non-GAAP financial measures, including reconciliations to the most closely correlated GAAP measure.

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Generate Free Cash Flow and Delever the Balance Sheet

RECENT ACHIEVEMENTS

Exceeded quarterly outlook for Normalized Adjusted EBITDA - achieved fifth consecutive quarter of double-digit Normalized Adjusted EBITDA growth

Increased outlook for FY'26 Pro Forma Adjusted EBITDA to $610M, Free Cash Flow to ~$(50M) and expect Unlevered Free Cash Flow of ~$395M

Reaffirmed outlook for FY'26 revenue and air marketplace bookings growth

Refinanced $1.35B in debt, pushing maturities out to 2032 - no large maturities until Q3'29

Cash balance of $688M2

Drive Growth through Innovation

RECENT ACHIEVEMENTS

Accelerated Airline Technology momentum with Kenya Airways win; four concurrent PSS migrations completed/underway

Air marketplace executing on growth priorities Lodging & Other bookings +8% year-on-year NDC 5% of total air marketplace bookings Hotel-related revenue +14% year-on-year Payment Suite gross spend +27% year-on-year

Advancing our position in the emerging Agentic AI travel channel

Normalized Adjusted EBITDA, Pro Forma Adjusted EBITDA, Free Cash Flow and Unlevered Free Cash Flow are non-GAAP measures. See slide 2 and appendix for a discussion of non-GAAP financial measures, including reconciliations to the most closely correlated GAAP measure.

1The information presented here represents forward-looking statements and reflects expectations as of November 5, 2026. Sabre assumes no obligation to update these statements. Refer to "Forward-looking statements" on Slide

2. Results may be materially different and are affected by many factors including those detailed in the accompanying release and in Sabre's Form 10-Q filed with the SEC on November 5, 2026.

2Includes $78 million of restricted cash for purposes of redeeming the 11.125% senior secured notes due 2029, in the fourth quarter of 2026.

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Normalized Adjusted EBITDA is a non-GAAP measure. See slide 2 and appendix for a discussion of non-GAAP financial measures, including reconciliations to the most closely correlated GAAP measure.

6

Chief Financial Officer

$738M

Revenue

+3% YoY

Normalized Adj. EBITDA

Margin

+200 bps YoY

23%

Operating Income

+17% YoY

$109M

Cash on Balance Sheet1

$688M

Normalized Adjusted EBITDA and Normalized Adjusted EBITDA margin are non-GAAP measures. See slide 2 and the appendix for a discussion of non-GAAP financial measures, including reconciliations to the most closely correlated GAAP measure.

1 As of September 30, 2026, includes $78 million of restricted cash for purposes of redeeming the 11.125% senior secured notes due 2029, in the fourth quarter of 2026.

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Q3'26 actual results versus guidance

Pro Forma Adjusted EBITDA is a non-GAAP measures. See slide 2 and the appendix for a discussion of non-GAAP financial measures, including reconciliations to the most closely correlated GAAP measure. See slide 2 for information on Pro Forma amounts.

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$ in millions

Notes:

• This chart is presented on a pro forma basis and reflects the partial payoff of the 11.125% Senior Secured notes due 2029 that were tendered in October as part of our Q3 refinancing.

• The 2031 Exchangeable notes contractually mature in May 2031, and the holders possess a non-contingent, unilateral option to require us to repurchase all or any portion of their notes, exercisable solely on May 15, 2029; the 2031 Exchangeable notes are presented as a Q2 2029 maturity in the table above.

• The AR Securitization is subject to certain springing maturity conditions; see our Form 10-Q filed on November 5, 2026, for additional information.

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Pro Forma Gross Margin, Pro Forma Adjusted Technology Expense, Pro Forma Adjusted SG&A Expense, Pro Forma Adjusted EBITDA, Free Cash Flow and Unlevered Free Cash Flow are non-GAAP measures. See slide 2 and the appendix for a discussion of non-GAAP financial measures, including reconciliations to the most closely correlated GAAP measure. See slide 2 for information on Pro Forma amounts.

1The information presented here represents forward-looking statements and reflects expectations as of November 5, 2026. Sabre assumes no obligation to update these

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statements. Refer to "Forward-looking statements" on Slide 2. Results may be materially different and are affected by many factors including those detailed in the accompanying release and in Sabre's Form 10-Q filed with the SEC on November 5, 2026.

We have included both financial measures prepared in accordance with U.S. generally accepted accounting principles ("GAAP") as well as certain supplemental non-GAAP financial measures, including Adjusted Net Income (Loss) from continuing operations ("Adjusted Net Income (Loss)"), Adjusted EBITDA, Normalized Adjusted EBITDA, Pro Forma Adjusted EBITDA, Adjusted EPS, Free Cash Flow, Unlevered Free Cash Flow and ratios derived from these measures. The non-GAAP financial measures are presented in addition to, and not as a substitute for, financial results prepared in accordance with GAAP. GAAP financial measures are presented with equal or greater prominence wherever non-GAAP financial measures are discussed.

Adjusted Net Income (Loss) is defined as (loss) income from continuing operations adjusted to exclude acquisition-related amortization; restructuring and other costs; loss on extinguishment of debt, net; other, net; disposition-related costs; litigation costs, net; indirect tax matters; stock-based compensation; and the related tax impacts of these adjustments.

Pro Forma Gross Margin is defined as Pro Forma Gross Income (as defined below) divided by revenue.

Pro Forma Adjusted Technology expense is defined as Technology expense adjusted for expected depreciation and amortization of property and equipment, expected restructuring and other costs, and expected stock-based compensation; less expected pro forma adjustments associated with costs previously allocated to Hospitality Solutions.

Pro Forma Adjusted SG&A expense is defined as SG&A expense adjusted for expected depreciation and amortization of property and equipment, expected restructuring and other costs, and expected stock-based compensation; less expected pro forma adjustments associated with costs previously allocated to Hospitality Solutions.

Adjusted EBITDA is defined as (loss) income from continuing operations adjusted to exclude depreciation and amortization of property and equipment; amortization of capitalized implementation costs; acquisition-related amortization; restructuring and other costs; interest expense, net; other, net; loss on extinguishment of debt; disposition-related costs; litigation costs, net; indirect tax matters; stock-based compensation; and the provision for income taxes.

Normalized Adjusted EBITDA and Pro Forma Adjusted EBITDA are defined as Adjusted EBITDA adjusted for the estimated costs historically allocated to Hospitality Solutions.

Normalized Adjusted EBITDA Margin is defined as Normalized Adjusted EBITDA divided by revenue

Free Cash Flow is defined as cash (used in) provided by operating activities, less cash used for additions to property and equipment.

Unlevered Free Cash Flow is defined as cash provided by (used in) operating activities, less cash used for additions to property and equipment, plus cash interest paid

Adjusted EPS is defined as Adjusted Net Income (Loss) divided by diluted weighted-average common shares outstanding.

Pro Forma Gross Income is defined as Operating Income adjusted for expected Technology expense, expected SG&A expense, and expected adjustments to Cost of Revenue, excluding technology costs expenses including expected depreciation and amortization of property and equipment and amortization of capitalized implementation costs, expected restructuring and other costs, and expected stock-based compensation; less expected pro forma adjustments associated with costs previously allocated to Hospitality Solutions.

Pro Forma Free Cash Flow is defined as Free Cash Flow adjusted to give effect to the Hospitality Solutions Sale.

Pro Forma Net Leverage is defined as gross debt minus cash, including net proceeds from the sale of Hospitality Solutions, divided by Pro Forma Adjusted EBITDA

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Purpose and Use by Management

Management and the board of directors use these non-GAAP financial measures to evaluate trends in our operating performance, assess period-to-period comparability, and support internal planning and decision-making. These measures are particularly useful in evaluating operating performance because historical results have been affected by items that management believes are not indicative of ongoing core operations. In addition, amounts derived from Adjusted EBITDA are used in connection with certain financial covenants under our senior secured credit facilities.

These non-GAAP financial measures should not be considered measures of liquidity, nor do they represent cash available for discretionary use. Free Cash Flow does not represent residual cash available for distribution and does not reflect all cash requirements of the business. Other companies, including those within our industry, may define or calculate similarly titled non-GAAP financial measures differently, limiting the usefulness of such measures as comparative tools.

Limitations of Non-GAAP Financial Measures

Adjusted Net Income (Loss), Adjusted EBITDA, Normalized Adjusted EBITDA, Adjusted EPS, Free Cash Flow, Unlevered Free Cash Flow and related ratios are not recognized measures under GAAP and have inherent limitations as analytical tools. Accordingly, they should not be considered in isolation or as substitutes for net (loss) income, (loss) income from continuing operations, or cash flows from operating activities prepared in accordance with GAAP.

The limitations of these non-GAAP financial measures include, but are not limited to, the following:

They exclude certain expenses that are recurring in nature, including stock-based compensation and amortization of acquired intangible assets.

Although depreciation and amortization are non-cash expenses, the assets being depreciated and amortized may require replacement in the future, and Adjusted EBITDA does not reflect the capital expenditures required for these replacements.

Adjusted EBITDA excludes amortization of capitalized implementation costs related to revenue contracts, which may result in future working capital or cash requirements.

Adjusted Net Income (Loss) and Adjusted EBITDA do not reflect changes in, or cash requirements associated with, working capital.

Adjusted EBITDA does not reflect interest expense, principal repayments, or other cash requirements necessary to service our indebtedness.

Adjusted EBITDA does not reflect income tax payments that could reduce cash available to us.

Free Cash Flow reflects changes in operating assets and liabilities determined under accrual accounting and does not reflect all cash requirements, including mandatory debt service obligations.

Unlevered Free Cash Flow reflects changes in operating assets and liabilities determined under accrual accounting and excludes the impact of cash interest expense, which does not reflect all cash requirements, including mandatory debt service obligations

Pro Forma Gross Income and Margin do not reflect certain technology costs that other companies may include within a gross income and margin calculation, significantly limiting comparability. Additionally, these measures do not reflect amortization of capitalized implementation costs associated with our revenue contracts, which may require future working capital or cash needs in the future.

Other companies, including those within our industry, may define or calculate similarly titled non-GAAP financial measures differently, limiting the usefulness of such measures as comparative tools.

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The non-GAAP pro forma financial outlook in this presentation, including Pro Forma Adjusted EBITDA, Pro Forma Gross Margin, Pro Forma Adjusted Technology expense, and Pro Forma Adjusted SG&A expense, is not necessarily indicative of the operating results of the Company after closing of the Hospitality Solutions Sale and utilization of the net proceeds from the sale to pay down outstanding indebtedness, or of the operating results of the Company in the future. The non-GAAP pro forma financial outlook included in this presentation is not pro forma information prepared in accordance with Article 11 of Regulation S-X of the SEC, and the preparation of information in accordance with Article 11 would result in a different presentation.

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The Company is providing full year 2026 outlook included below on a pro forma basis to give effect to the sale of the Hospitality Solutions business. Pro forma adjustments include an adjustment to remove costs previously allocated to Hospitality Solutions, but that do not meet the GAAP definition for discontinued operations reporting. We believe this presentation will enhance investors' ability to evaluate and compare the Company's operations on a go-forward basis.

Full-year Pro Forma Adjusted EBITDA guidance consists of expected net loss from continuing operations of approximately $133 million; less impact of acquisition-related amortization of approximately $31 million; expected stock-based compensation expense of approximately $71 million; expected depreciation and amortization of property and equipment and amortization of capitalized implementation costs of approximately $76 million; expected interest expense, inclusive of issuance costs and debt discounts, net of approximately $494 million; expected restructuring and other expenses, net of approximately $18 million; expected loss on debt extinguishment, net of approximately $10 million; expected provision for income taxes of approximately

$16 million; expected pro forma adjustments of approximately $26 million associated with costs previously allocated to Hospitality Solutions.

Full year Free Cash Flow guidance consists of expected cash provided by operating activities of approximately $45 million, less expected additions to property and equipment of approximately

$95 million.

We have not reconciled our non-GAAP Pro Forma Gross Income or Margin, Adjusted Technology expense and Adjusted SG&A expense to the most comparable GAAP measure because we cannot predict with a reasonable degree of certainty the amount of certain costs including stock-based compensation, restructuring and other expenses and pro forma adjustments associated with costs previously allocated to Hospitality Solutions within each of the respective expense lines, Cost of Revenue, excluding technology costs, Technology costs and SG&A costs, without unreasonable effort. The variability of these items may have a significant impact on our future GAAP financial results.

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Reconciliation of (Loss) income from continuing operations to Adjusted Net Income (Loss) from continuing operations and (Loss) income from continuing operations to Adjusted EBITDA: (in thousands, except per share amounts; unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

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1. Depreciation and amortization expenses:

   1. Acquisition-related amortization represents amortization of intangible assets from the take-private transaction in 2007 as well as intangibles associated with acquisitions since that date.

   2. (b) Depreciation and amortization of property and equipment includes software developed for internal use as well as amortization of contract acquisition costs.

   3. (c) Amortization of capitalized implementation costs represents amortization of upfront costs to implement new customer contracts under our SaaS and hosted revenue model.

2. Restructuring and other costs primarily represent charges related to the inflation offset program we began implementing in the fourth quarter of 2025.

3. Other, net includes $19 million in debt modification costs related to the financing activity that occurred in the third quarter of 2026, $15 million of transition services agreement income, net, in the current year period and a gain on the sale of assets of $5 million recognized in the prior year period. In addition, all periods presented include foreign exchange gains and losses related to the remeasurement of foreign currency denominated balances included in our consolidated balance sheets into the relevant functional currency.

4. Disposition-related costs represent fees and expenses incurred associated with disposition-related activities.

5. Indirect tax matters represents charges and adjustments to charges associated with certain digital services taxes ("DST") and other indirect tax matters related to historical periods, which may ultimately be settled in cash, and certain foreign non-income tax litigation matters.

6. Stock-based compensation represents expense associated with restricted stock units, performance-based restricted stock units, and liability-classified awards related to our 2026 short-term incentive compensation program.

7. Stockholder matter costs represents external legal and professional advisory fees associated with a strategic governance agreement. These costs are considered non-recurring and are not representative of our core ongoing operating performance.

8. The tax impact of adjustments includes the tax effect of each separate adjustment based on the statutory tax rate for the jurisdiction(s) in which the adjustment was taxable or deductible, and the tax effect of items that relate to tax specific financial transactions, tax law changes, uncertain tax positions, valuation allowances and other items.

9. The Adjusted diluted weighted-average common shares outstanding calculation includes approximately 10 million and 3 million of dilutive restricted stock awards for the three and nine months ended September 30, 2026, respectively, and approximately 67 million resulting common shares related to the 2031 Exchangeable Notes for the three and nine months ended September 30, 2026, respectively.

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