Expedia Group — Aug 5, 2026 release

Increasing full-year guidance A u g u s t   5 , 2 0 2 6     $3.8B $4.3B Q2-25 Q2-26 105.5M 111.5M Q2-25 Q2-26 R E S U L T S Summary of Q2-26 results 4 B2C Gross Bookings +8% B2B Gross Bookings +21% Gross Bookings B2C Revenue +8% B2B Revenue +23% RevenueBooked Room Nights Adjusted EBITDA1 margin expanded +196 bps Adjusted EBITDA1 (in millions) ($ in billions) ($ in billions) ($ in millions) 1 A reconciliation of non-GAAP financial measures to the most comparable GAAP measures is provided in the Appendix of this presentation Room Night growth led by B2B +6% $30.4B $33.9B Q2-25 Q2-26 +12% +14% $908M $1,119M Q2-25 Q2-26 +23% A u g u s t   5 , 2 0 2 6     R E S U L T S Booked Room Nights and ADR Booked 5 Booked Room Nights Average Daily Rate2 (in millions) 105.5M 108.2M 94.0M 113.9M 111.5M Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 7% 8% 11% 9% 9% 8% 6% 8% 6% 8% Booked Room Nights Y/Y $209 $210 $207 $228 $221 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 (0%) 2% 4% 7% 5%ADR2 Y/Y TTM1 Y/Y Booked Room Night growth by region US: up mid single-digits EMEA: up low single-digits Rest of World: up low double-digits TTM Room Night growth was stable at 8% 1 Represents trailing twelve month growth, calculated as the twelve months ended as of the applicable quarter end 2 Represents the average paid rate per booked room night, calculated as total lodging Gross Bookings divided by Booked Room Nights A u g u s t   5 , 2 0 2 6     R E S U L T S Expedia Group Performance 6 Gross Bookings Revenue ($ in billions) ($ in billions) 1 Represents trailing twelve month growth, calculated as the twelve months ended as of the applicable quarter end 2 Reflects our advertising and media business from Expedia Group ("EG") Advertising which is responsible for generating advertising revenue on our global online travel brands $30.4B $30.7B $27.0B $35.5B $33.9B Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 $3.8B $4.4B $3.5B $3.4B $4.3B Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Gross Bookings Y/Y Lodging Y/Y TTM Lodging1 Y/Y 5% 6% 8% 12% 13% 9% 11% 13% 9% 13% 13% 11% 12% 11% 13% Revenue Y/Y Lodging Y/Y EG Advertising2 Y/Y 6% 6% 19% 9% 9% 16% 11% 11% 19% 14% 13% 13% 15% 14% 13% Gross Bookings were driven by Room Night growth and higher Average Daily Rates and air ticket prices Revenue growth exceeded Gross Bookings growth primarily due to FX and revenue mix A u g u s t   5 , 2 0 2 6     Gross Bookings and revenue were driven by sustained momentum in the US, which grew at the strongest pace in 15 quarters Adjusted EBITDA margin expansion of nearly 4 points was driven by disciplined cost management, favorable revenue mix, and marketing leverage R E S U L T S B2C Segment Performance 7 Gross Bookings Revenue ($ in billions) ($ in billions) 1 Represents trailing twelve month growth, calculated as the twelve months ended as of the applicable quarter end 2 A reconciliation of non-GAAP financial measures to the most comparable GAAP measures is provided in the Appendix of this presentation Gross Bookings Y/Y $21.6B $21.3B $18.3B $24.8B $23.2B Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 $2.5B $2.9B $2.2B $2.1B $2.7B Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 1% 3% 7% 4% 5% 3% Revenue Y/Y Adjusted EBITDA Margin2 2% 29.4% 4% 40.7% 4% 31.5% 8% 20.1% 8% 33.2% 10% 6% 8% 7%TTM1 Y/Y A u g u s t   5 , 2 0 2 6     Gross Bookings Y/Y R E S U L T S B2B Segment Performance 8 1 Represents trailing twelve month growth, calculated as the twelve months ended as of the applicable quarter end 2 A reconciliation of non-GAAP financial measures to the most comparable GAAP measures is provided in the Appendix of this presentation $8.8B $9.4B $8.7B $10.7B $10.7B Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 $1.2B $1.4B $1.3B $1.2B $1.5B Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 17% 18% 26% 20% 24% 20% 22% 22% 21% 23% 15% 27.3% 18% 28.9% 24% 23.9% 25% 22.7% 23% 24.8% Revenue Y/Y Adjusted EBITDA Margin2 TTM1 Y/Y Gross Bookings and revenue were driven by continued double- digit growth across all regions and benefits from elevated marketing activity from some of our largest partners Revenue growth exceeded Gross Bookings growth primarily due to benefits from FX Adjusted EBITDA margin pressured by partner mix and acquisition consolidation Gross Bookings Revenue ($ in billions) ($ in billions) A u g u s t   5 , 2 0 2 6     $373M $399M Q2-25 Q2-26 $637M $638M Q2-25 Q2-26 R E S U L T S Improving Operational Efficiency 9 Direct Marketing Adjusted Overhead1,2Adjusted Cost of Revenue1 ($ in millions) ($ in millions) ($ in millions) 1 A reconciliation of non-GAAP financial measures to the most comparable GAAP measures is provided in the Appendix of this presentation 2 Total overhead expenses is the sum of adjusted expenses for Selling and marketing - indirect, Technology and content, and General and administrative +7% +0% 9.8% 9.2% % of Revenue (61bps) 16.8% 14.8% % of Revenue (203bps) Q2-25 Q2-26 +10% 5.1% 4.7% % of Gross Bookings (B2C) (31bps) B2C B2B Other2 $915M $1,101M $103M $1,092M $752M $76M $2,119M $1,920M B2C leverage driven by marketing discipline and improved returns across channels B2B expense driven by growth in partner commissions recognized at the time of stay A u g u s t   5 , 2 0 2 6   Leverage driven by continued efficiencies in payments Leverage benefited from ongoing savings generated by a series of cost reductions   Adjusted EBITDA margin expansion was driven by disciplined cost management, positive revenue mix, and B2C marketing leverage Adjusted EPS outpaced Adjusted EBITDA growth due to accretive share repurchases and a lower adjusted tax rate R E S U L T S Expedia Group Margins 10 Adjusted EBITDA1 Adjusted Earnings Per Share1 (EPS) ($ in millions) 1 A reconciliation of non-GAAP financial measures to the most comparable GAAP measures is provided in the Appendix of this presentation Adjusted EPS¹ Y/Y $908M $1,449M $848M $542M $1,119M Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Adjusted EBITDA1 Y/Y Adjusted EBITDA Margin1 Adjusted EBITDA Margin1 Y/Y 16% 24.0% 190bps 16% 32.9% 208bps 32% 23.9% 368bps 83% 15.8% 591bps 23% 25.9% 196bps 21% 23% 58% 386% 36% $4.24 $7.57 $3.78 $1.96 $5.76 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 A u g u s t   5 , 2 0 2 6     TTM2 Y/Y $1.6B $1.7B $1.9B $2.2B $1.8B Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 R E S U L T S Free Cash Flow and Capital Return 11 Balance Sheet1 1 Balance Sheet Snapshot as of June 30, 2026 2 Represents trailing twelve month growth, calculated as the twelve months ended as of the applicable quarter end 3 A reconciliation of non-GAAP financial measures to the most comparable GAAP measures is provided in the Appendix of this presentation Capital Return (Trailing 12 Months) ($ in billions) Dividends Repurchases $2.0B $3.0B $3.1B $4.1B $4.5B Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Free Cash Flow3 (Trailing 12 Months) ($ in billions)$7.1B Unrestricted Cash & Short-Term Investments BBB / Baa2 / BBB Investment Grade Credit Ratings $0.2B $1.6B Adjusted Weighted Average Shares Outstanding Y/Y3 (4%) (4%) (4%) (5%) (5%)0% 57% 34% 72% 123% A u g u s t   5 , 2 0 2 6     A D J U S T E D E B I T D A 1 Guidance G R O S S B O O K I N G S 12 Q3 2026 1 A reconciliation for the Adjusted EBITDA and Adjusted EBITDA Margin Expansion forecast is not provided because we cannot, without unreasonable effort, predict certain items, including but not limited to, foreign exchange rate gains or losses and minority investment gains or losses, and are unable to address the probable significance of the unavailable information. Note: All figures expressed on a year-over-year basis and include FX impact R E V E N U E $32.2 - $32.8B $1.51 - $1.56B Q 2 2 0 2 6 E A R N I N G S $4.65 - $4.75B A u g u s t   5 , 2 0 2 6   G R O S S B O O K I N G S Full Year 2026 R E V E N U E $129.5 - $130.8B $16.05 - $16.22B A D J U S T E D E B I T D A M A R G I N E X P A N S I O N 1 +1.5 - 1.75pts +5 - 7% +5 - 8% +8 - 9% +9 - 10%     Appendix Q 2 2 0 2 6 E A R N I N G S   A P P E N D I X Notes & Definitions 15 Booked Room Nights: Represents booked hotel room nights and property nights. Booked hotel room nights include both merchant and agency hotel room nights. Property nights are related to our alternative accommodation business. Average Daily Rate (ADR) Booked: Represents the average paid rate per booked room night, calculated as total lodging gross bookings divided by booked room nights. Gross Bookings: Generally represent the total retail value of transactions booked, recorded at the time of booking reflecting the total price due for travel by travelers, including taxes, fees and other charges, adjusted for cancellations and refunds. Lodging Metrics: Reported on a booked basis except for revenue, which is on a stayed basis. Lodging consists of both merchant and agency model hotel and alternative accommodations. B2C: The B2C segment provides