Travel + Leisure — Feb 18, 2026 release

Gross VOI sales of $2.49 billion, up 8% year-over-year, including 6% VPG growth and 3% Tour growth (1) • Net income of $230 million (diluted EPS of $3.44), inclusive of $216 million in inventory write-downs and impairments related to the Resort Optimization Initiative • Adjusted EBITDA of $990 million and Adjusted diluted EPS of $6.34 (1) • Net cash provided by operating activities of $640 million and Adjusted free cash flow of $516 million (1) Outlook: • Full Year 2026 Adjusted EBITDA expected to range from $1,030 million to $1,055 million, including the positive net impact of the Resort Optimization Initiative • The Company will recommend increasing first quarter 2026 dividend to $0.60 per share for approval by the Board of Directors • The Company’s Board of Directors approved a new $750 million share repurchase authorization President and Chief Executive Officer Michael D. Brown commented, “Travel + Leisure Co.’s 2025 results demonstrate the consistency and resilience of our performance, led by sustained momentum in our core Vacation Ownership business. We exceeded our full-year outlook, delivering solid revenue growth, margin expansion and meaningful returns for our shareholders. As we begin 2026, leisure travel demand remains strong, reinforcing our confidence in the durability of our business." “With strong demand as the backdrop, we are hyper-focused on disciplined execution while continuing to evolve our business model to drive sustained, profitable long-term growth. As we scale our newest brands and advance our Resort Optimization Initiative, we expect to strengthen our portfolio, enhance the owner experience, and deliver improved financial performance." (1) This press release includes Adjusted EBITDA, Adjusted diluted EPS, Adjusted free cash flow, Gross VOI sales and Adjusted net income, which are measures that are not calculated in accordance with Generally Accepted Accounting Principles in the U.S. (“GAAP”). See "Presentation of Financial Information" and the ta