Booking Holdings — Feb 20, 2025 release

Stock Repurchase Program ● We repurchased $1.1 billion of stock under our authorized stock repurchase program in the fourth quarter of 2024, and our total remaining stock repurchase authorization was $7.7 billion as of December 31, 2024. ● In January 2025, our Board authorized a program to repurchase up to an additional $20 billion of our common stock. Discrete Items ● For the quarter and year ended December 31, 2024, the Company recorded a loss of $796 million related to the conversion option on the convertible senior notes due in May 2025, which primarily represents the changes in the fair value of an embedded derivative and amortization of debt discount. Under U.S. GAAP, the conversion option is required to be accounted separately as an embedded derivative as, during the quarter, the Company irrevocably elected cash as the settlement method for the conversion premium on the maturity of the notes. See the Consolidated Financial Statements included in the Company’s 2024 Form 10-K for additional information. Fourth Quarter 2024 vs. 2023 2 Top Line Metrics ● Alternative accommodation room nights at Booking.com increased a high-teens percentage ● Constant-Currency ADRs increased 2%(1) ● Gross bookings increased 17% and revenues increased 14% Margin Expansion ● Net Income margin of 19.5% (4.6% in Q4 2023) ● Adjusted EBITDA margin of 33.8% (30.6% in Q4 2023) Fixed Cost Discipline ● Total operating expenses decreased 10% ● Adjusted fixed operating expenses increased 9%, slower than the 14% growth in revenue Marke