Anthony Hynes Chief Executive Officer – eNett December 17, 2015

GDS

Hospitality Hotels Rental car and ground transport B2B travel industry digital media

Mobile commerce MTT Locomote

Airline merchandising Ancillaries Tailored offerings (Rich Content and Branding)

Payments eNett

Fron

t-End

Airline content Network carriers

Low cost carriers

Hotels ~650,000 chain & independent hotel properties

Car rental ~36,000 car rental locations

Other distribution ~60 cruise lines

13 major rail networks

Co

nten

t

Travel Commerce

Platform Payments eNett

About eNett

eNett provides B2B payment solutions Specialized for the travel industry

Travel agents

Travel suppliers

Solving the inefficiencies

of B2B payments

Travel agents

Solving the inefficiencies

of B2B payments

Travel suppliers

eNett provides B2B payment solutions Specialized for the travel industry

Deep payments knowledge

Broad, highly scalable payments infrastructure

Provides access to 35.9m payment locations online

Deep travel domain expertise

Global network of:

Over 68k agent locations

~650k hotel properties

Direct integration into the Travelport Travel Commerce Platform

Shareholder Primary banking services provider

Regulated by the UK FCA

One of Europe’s leading virtual

card issuers

Our Journey

Our journey Company history

eNett International

established by PSP International

(now Optal)

Conceived eNett Virtual Account

Numbers and built proof-of-

concept payment platform

Travelport became a

shareholder of eNett

Fast growing company -

customers in 48 countries and

expanding market

penetration

Formally launched eNett VANs

Launched seamless

integration with Travelport’s

Travel Commerce Platform

Signed a long-term agreement with MasterCard

2002 2007 2009 2011 2013 2014 2015

How we’ve evolved in the past two years. Data Q3 2015 v Q3 2013

Our journey

increase in Virtual Account

Number revenue

increase in number of transacting customers

increase in number of

settled transactions

increase in number of

countries with clients

(from 33 to 48)

increase in number of employees

(from 78 to 116)

117% 219% 93% 45% 49%

Introducing Virtual Account Numbers

Why use eNett Virtual Account Numbers? Unique and automated payment process created for the travel industry

V A N Unique 16 digit MasterCard number generated for each

supplier payment

Virtual Account Number

Why use eNett Virtual Account Numbers? Unique and automated payment process created for the travel industry

V A N R R R R R R Provides you with…

Risk Reward Reconciliation

Payments with Virtual Account Numbers? Simplifies and automates the process

Automated reconciliation

Secure

Fast

Access to dynamic content and rebates

No bond requirements

Lower cost

Addressable Market

Estimated size of travel sector

eNett: travel payments industry growth opportunity

Source: Euromonitor Travel & Tourism Retail Value (RSP), at current prices with fixed 2014 exchange rates – excludes car rental insurance replacement costs

Latin America

$186bn

North America

$407bn

Europe

$610bn

Middle East & Africa

$122bn Asia

Pacific

$671bn

Total $2tn

Estimated size of travel sector Estimated size of addressable B2B payments in travel

eNett: travel payments industry growth opportunity

$810bn

$310bn

$185bn

$270bn

$420bn

Un-addressable payments

Addressable B2B payments, $810bn

2012-2017 forecasted CAGR – 7.1%(1)

Post paid consumer transaction

Consumer direct to supplier

US point-of-sale (air)

Non-US Air pre-paid non-air

(e.g. hotel, car, cruise, tours, etc.)

(1) Additional opportunities not quantified: payments for non-travel products/services (e.g., advertising, ICT services), from suppliers to travel agents/ corporation (e.g., hotel commissions)

Source: Edgar Dunn & Company, and eNett analysis

Total $2tn China

Estimated size of addressable B2B payments in travel

eNett: travel payments industry growth opportunity

Source: Euromonitor Travel & Tourism Retail Value (RSP), at current prices with fixed 2014 exchange rates – excludes car rental insurance replacement costs

Latin America

$100bn

North America

$120bn

Europe

$330bn

Middle East & Africa

$65bn Asia

Pacific

$195bn

Total $810bn

Immediate target segments

Total immediate opportunity

$178bn

Scheduled air ticket payables

eNett: travel payments industry growth opportunity

2012-2017 Forecasted CAGR – 8.1%(1)

Source: IATA BSP Cash; OTA. Hotel Market Size includes both retail and merchant model

$80bn

OTA hotel payables

$258bn

Low Cost Carrier payables $133bn

Source: Low Cost Carrier payables is estimated from a combination of Euromonitor and PhoCusWright data (4% of Intermediary Air volumes)

eNett Differentiation

Typical issuer cost recovery through interchange eNett cost base as a breakdown of interchange

eNett business model

Processing costs

Risk costs (Credit and fraud losses,

collection and mitigation costs)

Financial carrying costs (Funding interest-free periods)

Interchange = revenue for eNett versus cost recovery for a typical issuer

Margin to share

No credit losses

No collection costs

No fraud

No financial carrying costs

No physical card printing, mailing and other costs associated with statements

Low cost processing

Traditional model New model with Virtual

Account Numbers

Case study example: Online Travel Agency

0.15%

2-3%

Virtual Account

Number rebate

0.5%

Foreign exchange

costs 1%

Cash flow benefit

0.3% Reconciliation

costs 0.1%

Source: PhoCusWright Payments Unsettled, eNett Analysis, IATA BSP Calendars

For every $100m processed, the Online Travel Agency receives ~$500k in rebates Online Travel Agency generates ~$450k in cost savings and is covered by the MasterCard chargeback guarantee

Cost savings

New revenue

Why eNett is uniquely positioned to win

Specialized

Domain expertise

Seamless integration

Low Cost

31 currencies, 17 local settlement

Foreign exchange

Accessible

eNett as cardholder

Available in 71 countries to agencies of all sizes

Strong focus on service

delivery

Secure

Unparalleled tailored funding and chargeback

processes

Protection against supplier default

Innovative

Proprietary platform

Unique settlement capability

Product enhancements

and development

Strategic Priorities

Six goals in 2016

Increase eNett’s penetration of the addressable market

Extend our currency capability to open up further

volume and new markets

Lead the way in customer driven product innovation

Continue to increase differentiation vs. competitors

Extend the operation globally and build scale in people,

systems and processes

Be the #1 travel virtual card provider globally

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