AGM Trading Update

25 February 2025

On the Beach Group plc

("On the Beach" or the "Company")

AGM Trading Update

On the Beach issues the following year to date trading update (FY25), in advance of its Annual General Meeting to be held today.

Following another record year in FY24, the Board is pleased to report that this momentum has continued into FY25. The Company has delivered TTV1 growth of 10% year-on-year ("YoY") with Winter 24/25 TTV up 18% and Summer 25 TTV up 10%, reflecting the strength of the On the Beach holiday proposition.

In addition to strong early bookings for Summer 25, Group TTV of holidays scheduled to travel from March through to June is up 17% YoY2, demonstrating that customer demand for holidays, from On the Beach in particular, continues to buck wider UK consumer trends.

On the Beach's enhanced strategy, coupled with its asset light, low fixed cost operating model with no committed inventory to fill, naturally mitigates the wider inflationary macro pressures experienced across the broader sector, while allowing for competitive pricing to capture share in a growing market.

Investment in our technology enabled us to expand the Group's strategy into City packages in Q4 FY24, with the offering scaling rapidly and now taking bookings to over 70 city destinations. International expansion through the sale of package holidays from the Republic of Ireland has also made good progress since launch, supported by the Group's first targeted marketing campaign in January 2025.

The current positive booking trends provide the Group with confidence that Summer 25 will be significantly ahead of Summer 24. As a result, the Board is confident in delivering FY25 Adjusted PBT in line with the Company compiled consensus3.

Following the launch of its £25m share buyback programme in December 2024, the Group has acquired 6,575,377 ordinary shares of 1p each to date and completed 64% of the buyback programme4.

Shaun Morton, Chief Executive of On the Beach Group plc, commented:

"I am pleased to report double digit Group TTV growth with new and existing customers trusting On the Beach to help them holiday better and reflecting the strength and breadth of our holiday proposition.

"I am really excited by the progress we have made following the recent launch of our strategic growth initiatives focused on selling City packages and package holidays from the Republic of Ireland. Demand for Cities has been strong with routes to Amsterdam, Paris and Krakow proving particularly popular with both existing and new customers. Similarly, our first marketing campaign in the Republic of Ireland has generated strong bookings growth across both City and beach.

"The success of these early-stage strategic initiatives combined with the growth in our core beach proposition give me the confidence that Summer 25 will be significantly ahead of Summer 24 and the Group will deliver FY25 Adjusted PBT in line with market expectations."

1 TTV: the total transaction value of holidays sold during the period from 1 October 2024 up to and including 23 February 2025, before cancellations and amendments.

2 The selected period captures Easter departures in both prior and current year.

3 Company compiled consensus for FY25 Adjusted profit before tax of £38.2m.

4 Period up to and including 21 February 2025. The purpose of the share buyback programme is to reduce the share capital of the Company with all ordinary shares purchased subsequently being cancelled.

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About On the Beach

On the Beach Group plc is one of the UK's largest online package holiday specialists, with significant opportunities for growth. Its innovative technology, low-cost base and strong customer-value proposition provides a structural challenge to legacy tour operators and online travel agents, as it continues disrupting the online retail of beach holidays. Its model is customer-centric, asset light, profitable and cash generative.