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INVESTORDAYTaking LatAm’s Leading Travel Platform to the Next Level

DECEMBER 2019 NEW YORK CITY

This presentation includes forward-looking statements. We have based these forward-looking statements largely on our current beliefs, expectations and projections aboutfuture events and financial trends affecting our business and our market. Many important factors could cause our actual results to differ substantially from thoseanticipated in our forward-looking statements, including: political, social and macroeconomic conditions in Latin America; currency exchange rates and inflation; currentcompetition and the emergence of new market participants in our industry; government regulation; our expectations regarding the continued growth of internet usage ande-commerce in Latin America; failure to maintain and enhance our brand recognition; our ability to maintain and expand our supplier relationships; our reliance ontechnology; the growth in the usage of mobile devices and our ability to successfully monetize this usage; our ability to attract, train and retain executives and otherqualified employees; and our ability to successfully implement our growth strategies. We operate in a competitive and rapidly changing environment. New risks anduncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statementscontained in this presentation. The words “believe,” “may,” “should,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “will,” “expect” and similar words are intended toidentify forward-looking statements. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies,capital expenditures, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects ofcompetition. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or to revise any forward-lookingstatements after the date of this presentation because of new information, future events or other factors, except as required by law. In light of the risks and uncertaintiesdescribed above, the future events and circumstances discussed in this presentation might not occur or come into existence and forward-looking statements are thus notguarantees of future performance. Considering these limitations, you should not make any investment decision in reliance on forward-looking statements contained in thispresentation. This presentation includes industry, market and competitive position data and forecasts that we have derived from independent consultant reports, publiclyavailable information, industry publications, official government information, other third-party sources and our internal data and estimates. Independent consultant reports,industry publications and other published sources generally indicate that the information contained therein was obtained from sources believed to be reliable. The inclusionof market estimations in this presentation is based upon information obtained from third-party sources and our understanding of industry conditions. Although we believethat this information is reliable, the information has not been independently verified by us. Trademarks and service marks appearing in this presentation are the property oftheir respective holders. This presentation includes data from Euromonitor. Information sourced to Euromonitor is from independent market research carried out byEuromonitor International Limited as part of its annual Passport research. Euromonitor makes no warranties about the fitness of this intelligence for investment decisions.This presentation is strictly confidential, is for informational purposes only and may not be relied upon in connection with the purchase or sale of any security. You may notdisclose any of the information contained herein to any other parties without the company’s prior express written permission. This presentation is made pursuant toSection 5(d) of the Securities Act of 1933, as amended, and is intended solely for investors that are either qualified institutional buyers or institutions that are accreditedinvestors (as such terms are defined under Securities and Exchange Commission (“SEC”) rules) solely for the purpose of determining whether such investors might have aninterest in a securities offering contemplated by Despegar.com, Corp. Any such offering of securities will only be made by means of a registration statement (including aprospectus) filed with the SEC, after such registration statement is declared effective. No such registration statement has been declared effective as of the date of thispresentation. This presentation shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in anystate or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

DISCLAIMER

3

AGENDARAPID ADAPTATION TO LOCAL MARKETS

LOW-COST DELIVERY MODEL UNIQUELY SUITED FOR LATAM

STRONG FINANCIAL POSITION CAPTURE GROWTH AND LEAD CONSOLIDATION

CLOSING REMARKS

DECEMBER 2019 NEW YORK CITY INVESTOR DAY

2

3

4

5

6

7

4

COMPETITIVE POSITIONING AND STRATEGIC INITIATIVES

WIN-WIN VALUE PROPOSITION FOR CUSTOMERS AND PARTNERS

EFFICIENT CUSTOMER ACQUISITION & RETENTION

BEST IN CLASS DIGITAL PRODUCT

1

PABLO MONTIVERO ARAYACHIEF BUSINESS DEVELOPMENT OFFICER

GONZALO ESTEBARENACHIEF COMMERCIAL OFFICER

ALEXANDRE MOSHECOUNTRY HEAD BRAZIL

SPEAKERS

DAMIAN SCOKINCHIEF EXECUTIVE OFFICER

ALBERTO LOPEZ GAFFNEYCHIEF FINANCIAL OFFICER

LEANDRO MALANDRINICHIEF PRODUCT OFFICER

ANDRES PATETTA CHIEF MARKETING OFFICER

ALEJANDRO STEIN CHIEF CUSTOMER AND OPERATIONS OFFICER

5

KEY THEMESFOR TODAY

1

2

3

4

6

Leading OTA in LatAm, a large market with unique preferences that require rapid adaptation across geographies

Strong brand with a scalable and flexible business model to drive growth and ensure consumer loyalty, which positions us as the Partner of Choice

Delivering growth even as we currently navigate an adverse macro environment

Investing in multiple strategic initiatives for value creation and broadening our value proposition

UNDERPENETRATED

UNIQUE CUSTOMER PREFERENCES

FRAGMENTED SUPPLIER BASE

LARGE

GROWING

Leading LatAm OTA in an attractive and growing market

7

DESPEGAR INVESTOR DAY DESPEGAR INVESTOR DAY

The LatAm Travel Market is over 2.5 x the Size of India’s, and is Growing Faster than in Western Europe and the US

GDP 1US$ BN

Per Capita 1GDP US$

2,726

2,064

8,268

43,284

4,627

9,347

20,580

62,869

INDIA LATAM 3WESTERNEUROPE 3 US

46

10%

72

11%

116

6%

166

9%

406

3%

499

5%

565

4%

719

7%

Source: (1) Imf As Of 2019. (2) Euromonitor 2019 Data. Source Euromonitor Considering Only Airlines, Lodging, Attractions And Car Rentals. (3) LatAm Takes Into Account 45 Countries And Western Europe Considers 25 Countries.

Travel Market 2US$ BN

Travel Market Expected Growth 2(CAGR 18-24)

Travel Market Expected Size 2024 2

US$ BN

Online Travel Market Expected Growth 2(CAGR 18-24)

LatAm Market2.5x India

8


Growth Potential Supported by Attractive Economic and Secular Trends

GROWTH INDISPOSABLE INCOME LATAM

W. EUROPE US

EXPECTED CAGR 2018 - 2024 1 3% 2% 2%

Sources: (1) Euromonitor 2018 Figures. (2) Euromonitor 2018 Figures. Digital Commerce Per Capita In 2018. (3) Euromonitor 2018 Figures. Smartphone Possession in 2018

LOW BANCARIZATIONLEVEL

CREDIT CARD OWNERSHIP 1 54% 95% 203%

INCIPIENT DIGITAL E-COMMERCE

E- COMMERCE PER CAPITA (USD) 2 265 1.125 4.966

MOBILEPENETRATION

SMARTPHONE PENETRATION 3 62% 71% 84%

TRAVEL AS A WAY TO CAPTURE DISCRETIONARY SPEND

ALTERNATIVE PAYMENT METHODS

ACROSS PLATFORM INITIATIVES

MOBILE FOCUS

9


Moreover, the LatAm Online Travel Market is Underpenetrated and Presents Significant Room for Growth

Sources: Euromonitor (1) 2019 Data . Intermediaries Online Sales/ Intermediaries Offline Sales in Gross Bookings. (2) 2019 Data. Total Mobile Travel Gross Bookings To Residents.

ONLINE LATAM TRAVEL PURCHASES ARE GROWING 1

SIGNIFICANT GROWTH IN LATAM MOBILE TRAVEL SALES 2

2011

0

5

10

15

20

25

2013 2015 2017 2019 2021 2023

US

D B

N 19% CAGR

ON OFF

LATAM LATAM LATAMWE WE WEUS US US

70%

30%

59%

41%

51%

49%

57%

43%

45%

55%

39%

61%

47%

53%

39%

61%

32%

68%

2013 2018 2024

10


A Customer Base with Unique Preferences that Require Rapid Adaptation Across Geographies

LATAM TRAVEL GLOBALTREND

UNIQUETO

LATAM OUR STRATEGY

40% Travel spend is in packages 1 Focus on Complete Trips

69% Bought online & offline over past year 2Acquisitions and partnerships to balance our online presence

30% Purchased in installments to safeguard against FX volatility (60% Br & Arg) 1

Offer broadest range of installment financing options, mainly in Arg & Br

19% Purchased travel through Boleto (Brazil) 3 Broadest range of alternative payment methods

40% Annual travel budget spent on short trips 2 Launched Getaways

72% Say promotions and prices are the most influential factors in the decision process 4

One promotional campaign every two weeks in key markets

14% Value advice Launched Inspiration

Source: (1) Consumer Survey Conducted By Mckinsey In Brazil, Argentina, Colombia, Chile, Peru And Mexico (May 2017). (2) 2017 Prm’s “Online Travel Market Brazil, Mexico, Colombia, Argentina, Peru And Chile”. (3) Despegar Brand Tracking - Representative Sample: 1526 Brazilian Travellers - September 2019. (4) Despegar Market Insights. Customer Satisfaction Tracking. Unbranded Research On General Population Conducted Through Outsourced Online Panels. July 2019

11


201565 Airlines18 Low Cost 1

201967 Airlines21 Low Cost 1

Source: (1) OAG Data. (2) Euromonitor 2018 Figures. % of Gross Bookings. Includes international and domestic flights.

LATAM 2

60%

40%

2015

TOP 4AIRLINES

ALL OTHER

85%

15%

2015

TOP 10HOTELS CHAINS

ALL OTHER

69%

31%

2018

TOP 4AIRLINES

ALL OTHER

44%

56%

2018

93%

7%

2018

TOP 10HOTELS CHAINS

ALL OTHER

50%

50%

2018

US 2

12

A Fragmented Supplier Base Across LatAm Reinforces the Value and Revenue Potential


SIGNIFICANTSCALE

Our Competencies Provide Us With Unique Competitive Levers

DYNAMIC CULTURE

STRONG BRAND

DEEP LOCALUNDERSTANDING

AGILEPLATFORM

DISTINCTIVECOMPETENCIES

COMPETITIVELEVERS

Win-Win Value Proposition for Customers and Partners

Efficient Customer Acquisition & Retention

Best-in-Class Digital Product

Rapid Adaptation to Local Markets

Low-Cost Delivery Model Uniquely Suited for LatAm

Strong Financial Position to Capture Growth and Lead Consolidation

13


We Are Further Strengthening Our Competitive Levers

DRIVE HIGHER MARGIN PACKAGES

ENHANCECUSTOMER

LOYALTY

BUILD ON LEADING MOBILE APP

POSITION

COMPETITIVELEVERS

WIN-WIN VALUE PROPOSITION FOR CUSTOMERS AND PARTNERS

EFFICIENT CUSTOMER ACQUISITION & RETENTION

BEST-IN-CLASS DIGITAL PRODUCT

RAPID ADAPTATION TO LOCAL MARKETS


STRONG FINANCIAL POSITION TO CAPTURE GROWTH AND LEAD CONSOLIDATION

CLIENT BASED ANALYTICS &

SEGMENTATION

EXPAND REACH ACROSS PLATFORMS

PAYMENTSOPTIONS

14

Doubling our size within next five years, with increased profitability and solid cash flow generation

5-YEAR VISION FURTHER EXPANDING REGIONAL LEADERSHIP WITH STRENGTHENED COMPETITIVE SET

15

Generating and Capturing value from Customers and Partners:

1

Increasing repeat rateAugmenting ASP Attracting a larger client audience Financing growth via reduced customer fees

2

Becoming the Dominant Platform and Must Have Partner5

3 Strengthening our Competitive Levers

4 Leading the consolidation of the Travel Space in Latam

DECEMBER2019

WIN-WIN VALUE PROPOSITION FOR CUSTOMERS & PARTNERS

ABOUT _

SPEAKERS _

GONZALO ESTEBARENACHIEF COMMERCIAL OFFICER

PABLO MONTIVERO ARAYACHIEF BUSINESS DEVELOPMENT OFFICER

DESPEGAR INVESTOR DAY

Despegar Benefits from a Diverse and Sustainable Revenue Stream Based on a Win-Win Value Proposition for Customers and Partners

STRATEGIC PARTNERS

Strategic partners leverage Despegar’s leadership position to grow their businesses

TRAVEL PARTNERS

Travel partners trust our ability to bring incremental revenues at the

most efficient cost

CUSTOMERS

1/4 of revenuesCustomers trust we offer them best value for their money and

serve them through their channel of choice

B2B PARTNERS

B2B distributors trust that we offer superior technology and travel supply

PARTNERS

3/4 of revenues 17


STRATEGIC PARTNERS

TRAVEL PARTNERS B2B PARTNERS


CUSTOMERS

1/4 of revenuesCustomers trust we offer them best value for their money and

serve them through their channel of choice

18


+270

+400

+500k

6

+6,000

1 WE SOURCE

2

3

4

5

6

$

CAR RENTALS

AIRLINES

CRUISE LINES

PRIVATELY NEGOTIATED FARES

>30%

PROPERTIES WORLD-WIDE

ACTIVITIES

Clients Trust That We Offer Unbeatable Value for Their Money

+30kDIRECTLYSOURCED

19

We leverage our scale to source the best and most attractive deals

Over 30% of our transactions include a privately negotiated fare


Custom packages for specific segments and travel occasions

One-stop shop solution

Peace-of-mind

As we bundle we gain access to better rates and margins while offering a discount

1 WE SOURCE

2 WE BUNDLE

3

4

5

6

$


20


24/7 customer support

>75% first-contact resolution

Cross channel support through direct chat/call

1 WE SOURCE

2 WE BUNDLE

3 WE CARE

4

5

6


21


PRE-PAID IN LOCAL CURRENCY

NO-INTEREST-INSTALLMENT

SPLIT PAYMENTS

CASH AND NON-CREDIT CARD FINANCING

1 WE SOURCE

2 WE BUNDLE

3 WE CARE

4 WE ARE AFFORDABLE

5

6


22


Cross-Platform Strategy Aimed at Accelerating Online Growth, Leveraging Select Off-Line Expansion

% of people in each category

Purchased only online last year

Purchased online and offline last year

Purchased only offline last year

LatAm travelers are cross-channel consumers -69% of those who purchased a trip bought online, but 40% of this base also bought offline

PURCHASED ONLINE AND/OR OFFLINE LEISURE TRIPS IN THE LAST YEAR 1

43

26

31

% Share of those who purchased travel

MOTIVATION FOR CHOOSING PREFERRED PLACE TO PURCHASE TRAVEL 1

Affordability

Trustworthy

Advisory

Assortment

Special Offers / Discounts

Payment methods / Financing

Easy purchase process

Good attention & post sales service

Other attributes

21

16

14

12

11

11

6

6

4

Source: (1) 2017 Prm’s “Online Travel Market Brazil, Mexico, Colombia, Argentina, Peru And Chile”

1 WE SOURCE

2 WE BUNDLE

3 WE CARE

4 WE ARE AFFORDABLE

5 WE ARE CLOSE

6

NEW

23


Seamless Shopping Experience, Addressing Customers’ Need for Advice and Trust

SINGLE TOUCHPOINT

RESEARCH – GET INSPIRED

Confirmation via email and mobile

NPS Post-PurchaseCall Center (compared to Site)

Call Center ASP vs Site(Oct YTD 2019)

+5.1 pp OCT 19 +72%

SELECTION & BOOKING

CONFIRMATION

Despegar customer service, both online and

call center

Desktop and mobile

Phone

1 WE SOURCE

2 WE BUNDLE

3 WE CARE

4 WE ARE AFFORDABLE

5 WE ARE CLOSE NEW

6Call Center GB (% of Despegar)(Oct YTD 2019)

4.9% 24


Double dip in flights!

More efficient customer acquisition

Increase repeat rate

Improve customer base activation

Accelerate non air growth

HOW THE PROGRAM CONTRIBUTES TO DESPEGAR GOALS?

Wide multi-product offer

No blackout dates

Exclusive customer supporthotline for “Global” tier. Seamless account management

Redeem points + cash

PROGRAM FEATURES DELIVERINGA UNIQUE VALUE PROPOSITION

Single member can consolidate all points

PARTNERS

1 WE SOURCE

2 WE BUNDLE

3 WE CARE

4 WE ARE AFFORDABLE

5 WE ARE CLOSE

6 WE REWARD

NEW

NEW

$


TO BE ROLLED OUT

ONLY IN BRAZIL

25



TRAVEL PARTNERS

CUSTOMERS

B2B PARTNERS

STRATEGIC PARTNERS

Strategic partners leverage Despegar’s leadership position to grow their businesses

26

PARTNERS

3/4 of revenues


Strategic Partners Leverage Our Leadership Position to Grow

BANKS AND FINANCIAL PARTNERS GDS TOURISM BOARDS$ $ $

27


PARTNERS

3/4 of revenues


STRATEGIC PARTNERS

TRAVEL PARTNERS

CUSTOMERS

B2B PARTNERS

B2B distributors trust we offer them superior technology and travel supply

28


We Offer B2B Partners the Most Efficient Tools to Grow Their Sales with Superior ROI

Partner CommissionsRevenue Management

Promotional ratesMultiple payment methodsVerified reviews

Voucher to the passenger24/7 customer support Less than 40 seconds standby

POST BOOKING

MAXIMIZE BENEFITS

FEATURES

Integrated pre-paid hotel direct inventory through our API solution, aiming to become their main provider for the region

Ctrip assumes full after-sales attention

Opportunity to expand the product offer

NEW

WHITE LABELS

+10k AFFILIATES

API CONNECTIONS


PARTNERS

3/4 of revenues

STRATEGIC PARTNERSCUSTOMERS

B2B PARTNERS


TRAVEL PARTNERS

Travel partners trust our ability to bring incremental revenues at the

most efficient cost

30


We Offer Travel Partners the Most Efficient Tools to Grow Their Sales with Superior ROI

OUR BROAD AND DIVERSE TOOLKIT

AUDIENCESOPAQUINGPACKAGING

SEGMENTED CLIENTS

TRAVEL PARTNER’S NEEDS DISCOUNT PRICES

LIMITED $ TO GROW THEIR BUSINESS

OTHER CHANNELS

MARKETING

HIGHLIGHTINGSORTINGLOYALTY POINTS

$

31


Partners invest an additional 5-10% of their net sale price to participate in our Preferred Partners Program

Highlighting and preferred sorting

Default selection for Packaged Products

Higher awareness through marketing activities (e.g. SEM, newsletters, etc.)

Resulting in strong return on investment for our Partners

Despegar leverages its demand steering capabilities to generate incremental sales

100 92

5-10 PP

PREFERRED PARTNERNON PREFERRED PARTNER

PARTNER NET SALE PRICE** (index = 100)

SALES GROWTH YoY IN USD** (index = 100)

100140

40-50%

PREFERRED PARTNERNON PREFERRED PARTNER

Case Study: Our Preferred Partners Program for Hotels is a Widely Accepted Tool to Boost Sales

ROI = +200%

$

32


Looking Ahead: Enhanced Value Proposition Driving Partner Revenues, As We Capture Share and Steer Demand, while Customer Revenues are Resilient

STRATEGIC PARTNERS

As we gain scale and consolidate regional leadership, we become an even more attractive partner and see more willingness to invest in Despegar

TRAVEL PARTNERS

As we increase our ability to steer demand, travel partners are re-allocating

their marketing dollars to Despegar

CUSTOMERS

Resilient customer revenues As we strengthen our value proposition

with loyalty, unique products and easier access and affordability, we see

customers willing to pay for our service

B2B PARTNERS

As we provide more financing and payments options, more features ease of use and a wide inventory, they increasingly prefer our platformPARTNERS

33

Partner revenues are increasingly relevant

DESPEGARTHE PARTNER OF CHOICE

34

DECEMBER2019

EFFICIENT CUSTOMER ACQUISITION AND RETENTION

ABOUT _

SPEAKER _

ANDRES PATETTACHIEF MARKETING OFFICER


Strong Investment in Branding Has Resulted in Leading Brand Awareness Across LatAm

UNAIDED BRAND AWARENESS 2

US $1.4BN+ INVESTED SINCE OUR FOUNDING 1

1999 2018

BRAND INVESTMENTS1999 - 2019

1

2

3

4

5

6

7

8

9

10

11

12

13

14

41%

33%

24%

22%

15%

14%

12%

11%

9%

8%

6%

5%

5%

3%

41%

31%

30%

23%

34%

29%

12%

25%

7%

0%

3%

0%

11%

0%

32%

38%

0%

18%

0%

0%

14%

0%

1%

31%

17%

20%

0%

0%

62%

34%

24%

35%

0%

3%

15%

0%

2%

0%

3%

2%

0%

34%

48%

35%

23%

18%

0%

0%

8%

0%

41%

0%

2%

0%

0%

34%

40%

26%

54%

16%

0%

0%

5%

0%

19%

0%

3%

0%

0%

0%

45%

25%

53%

26%

0%

1%

11%

0%

4%

0%

1%

0%

0%

0%

DESPEGAR

TRIVAGO

LATAM

BOOKING

CVC (TA)

GOL

AIRBNB

AZUL

AVIANCA

VOLARIS

EXPEDIA (TA)

BESTDAY (TA)

SUBMARINO (TA)

ALMUNDO (TA)

4,16 4,27 4,53 4,10 4,10 4,20AV. COUNT OF

RECALLED BRANDS

Source: (1) Despegar’s Internal Data. Marketing Investments Include Marketing Personnel As Of March 31st 2019 (2) Source:Despegar Market Insights Brand Tracking. Unbranded Research On General Population Conducted Through Outsourced Online Panels. Sep- 2019(3) TA = Travel Agency

36


Strong Organic Traffic Makes Despegar Less Dependent on Other Sources and Reduces Our Marketing Spend

DESPEGAR - DIRECT MARKETING as a % GB YoY Chg.

DESPEGAR TRAFFIC BREAKDOWN JAN-OCT YoY

NON PAID TRAFFIC 1

PAID TRAFFIC

3.27 3.21 3.18

MA

RK

ET

ING

DIR

EC

T C

OS

T %

OF G

B

201920182017

65%

35%

62%

38%

69%

31%

201920182017

(1) Despegar´s Internal Data. Non Paid Traffic includes paid branded keywords

SEO accounts

for only 12% of total traffic

100116 121

AIR MARKET SHARE GROWTH - JAN-OCT, BASE 2017

3%

37


Despegar Has One of the Highest Traffic Volumes in LatAm

201920182017 201920182017

TRAFFIC EVOLUTION vsLOCAL PLAYERS 1

201920182017

APP

SITE

73%

27%

66%

34%

63%

37%

600

400

200

0

800

600

200

0

400

COMPETITOR 2

COMPETITOR 3

COMPETITOR 5COMPETITOR 1

COMPETITOR 6

COMPETITOR 7

COMPETITOR 4DESPEGAR

COMPETITOR B

COMPETITOR C

COMPETITOR A

COMPETITOR D

DESPEGAR

DESPEGAR´S TRAFFIC BY PLATFORM (VISITS) 2

(1) Similar Web + App Annie Adjusted With Internal Data(2) Despegar´s Internal Data. Visits Jan - Oct

TRAFFIC EVOLUTION vsGLOBAL PLAYERS 1

38

WE DO NOT PURCHASE TRAFFIC, WE PURCHASE REVENUES

39


Proprietary Technology Along with Flexible Toolkit Are Key to Driving Profitable Revenue Growth

GB

EBIT

TRAFFIC

MARKETING SPEND1

CONVERSION RATE

PRICE2

INSTALLMENTS3

LOYALTY4

ATTRIBUTION MODEL

CROSS DEVICE ID

OPTIMIZATION

LTV SEGMENTS

NEW

40


FAST GROWTH IN STAND-ALONE PACKAGE TRANSACTIONS 1

100 125 142

201920182017

SH

AR

E O

F T

OT

AL

TR

AN

SA

CT

ION

S

(1) Source Despegar’ S Internal Data. Transactions Jan- Oct

EVOLUTION OF ITEMS SOLD PER VISIT 2

(2) Source Despegar’s Internal Data. Items Jan- Oct

100 116 133

201920182017

Marketing Initiatives Driving Higher-Margin Sales

41

CAGR 17-19

19%CAGR 17-19

15%


SHARE OF TRANSACTIONS PER DEVICE 1

67% 61%

26%

74%

33% 39%

MOBILE

DESKTOP & OTHER

201920182017

MOST DOWNLOADED OTA APP IN THE REGION 2

57.1 MILLION CUMULATIVEAPP DOWNLOADS 3

Stars Rating on Apple App StoreBased on 140k reviews 4

4.7

Stars Rating on Google PlayBased on 164k reviews 4

4.3

Mobile Transactions up +15% 3Q18 to 3Q19

Source: (1) Despegar’ S Internal Data. Transactions Jan-oct. (2) Despegar is iOS App Store and Google Play apps most downloaded OTA apps in Latin America for the period from 2012 to 2018. (3) Downloads based on internal data, and as of June 30, 2019(4) Includes reviews for both Despegar and Decolar apps on iOS App Store and Google Play as of September 30th, 2019 42

Steering Demand to Higher Conversion Mobile Platform

43

PUSH PROMOTIONAL CAMPAIGNS ARE KEY TO DRIVING THE

PURCHASE DECISION IN LATAM


Strongest competitive position in mobile, with

room for further migration

Brand awareness and traffic

Looking Ahead: We Aim to Leverage Our Marketing Assets to Optimize Customer Acquisition

KEY MARKETING ASSETS MARKETING STRATEGIC GOALS

1 Drive loyalty among higher LTV customers

2 Continue to improve personalization and accuracy with who we engage and when.

3 Further diversify traffic sources

+

+

Flexible toolkit to maximize revenue elasticity

44


COFFEE BREAK

45

DECEMBER2019

BEST-IN-CLASSDIGITAL PRODUCT

ABOUT _

SPEAKER _

LEANDRO MALANDRINICHIEF PRODUCT OFFICER

47

PRESENCE THROUGHOUT THE ENTIRE CUSTOMER JOURNEY


BEST TALENT IN LATAM

One of the most aspirational digital companies in LatAm

Selective hiring process

Low turnover

+ 1000 Tech talents

AGILE

Agile methodologies and structure

Team divided into autonomous and multi-disciplinary squads. Each team is responsible for the life cycle of the product

WE ITERATE AND LEARN FAST

+1600

User interviews, surveys and tests

1 every 2 minutes

Projects / Stories online

A/B tests

Deployments: 700 per day

+4700

+210

Agile Tech Team Executes on Ideas in a Nimble MannerDESPEGAR INVESTOR DAY

48


Leading Tech Facilitates Delivery on Our Value Proposition

CUSTOMER CENTRICITY

Personalized and segmented features tailor-made for Latin Americans

PRODUCT OFFERING

Unique content, bundled packages and trips in the preferred one stop shop

APP IS KING

Driving engagement across each stage of customer journey

CROSS PLATFORMS

Superior end-to-endcustomer experience


49


BUNDLING CAPABILITIESBROADEST AGGREGATED INVENTORY TRIPS

Product Offering: One-Stop-Shop

UNIQUE CONTENT

+300 30 K +450

1411

BUNDLING CAPABILITIES TRIPS


MY TRIP SELF MANAGEMENT EXCLUSIVE KEY FEATURESDIFFERENTIATED SHOPPING EXPERIENCE

App is King: Driving Engagement

EXCLUSIVE KEY FEATURESMY TRIP SELF MANAGEMENT


CUSTOMIZED FOR LATIN AMERICANS

Customer Centricity

PERSONALIZATIONSEGMENTATION

A B C

52

SEGMENTATION

A B C

52

PERSONALIZATION


CUSTOMEREXPERIENCE

CROSS JOURNEY STAGES CROSS DEVICES CROSS CHANNEL

Cross Platforms: Superior Experience Everywhere

53

CROSS DEVICES CROSS CHANNEL


FOCUSED EXECUTION

Looking Ahead: Many Enhancements on the WayDESPEGAR INVESTOR DAY

ADDING VALUE THROUGH

CONTINUOUS INNOVATION

CREATIVITY AND INNOVATION

CUTTING-EDGE TECHNOLOGY

LEARNINGS

ACHIEVEMENTS

- Bundling- Demand steering- Inspiration- Post-sale self mgmt- Cross channels tools- Mobile APP- Payment methods- Loyalty program

and more

54

DECEMBER2019

RAPID ADAPTATION TO LOCAL MARKETS

ABOUT _

SPEAKER _

ALEXANDRE MOSHECOUNTRY HEAD BRAZIL


Despegar’s Strong Local Presence Enables Four Key Competitive Differentials

Rapid reaction to local market opportunities and/or threats

Understanding of local marketdynamics and creation of local commercial events

Development of customer-led experiences to cater to local needs

Customization of regional platforms to fully address and capture local market characteristics

56


Example: Implementation of “Surprise Weekend Sale” of major domestic airline

AWARENESS(Friday, 3pm)

SET-UP(Friday, 3:30pm)

GO-LIVE(Friday, 7pm)

COMMUNICATION(Friday, 8pm)

Informed that weekend sale would be taking place starting late Friday (only possible due to intense and recurrent commercial interactions)

Leverage pre-designed templates to create specific Landing Page and Internal alignments (Marketing, Legal, Sales, Revenue Mgmt)

Real-time monitoring of airline website to track moment of go-live. Upload of Landing Page and promotions on Decolar.com

Communication sent to entire client base (push notifications, email alerts, online ads, ...)

TOTAL IMPLEMENTATION TIME -5 HOURS

57

Being Local Speeds-up Reaction Time, Shortening Time-to-Market to Capture Unplanned Opportunities


INDUSTRY- WIDECOMMERCIAL EVENTS

DECOLAR-LEDCOMMERCIAL EVENTS

DECEMBER

Commercial opportunities that are easily available to any player, with result diluted across the industry.

Commercial opportunities that require local presence to be planned and implemented,with result captured solely by the player.

Carnaval

Consumer Day

Brazil Week

Black Friday

Christmas

FEBRUARY / MARCH

MARCH

SEPTEMBER

NOVEMBER

OCTOBER

Winter Holidays Travel

Aniversario Decolar

Despegar Discount Week

Tourism Week

App Week

APRIL

JUNE

SEPTEMBER

SEPTEMBER

58

Local Footprint Favors Understanding of Market Dynamics and Tailoring Commercial Strategies


PROACTIVELY APPROACH PROVIDERS TO ASSIST THEM IN ACHIEVING THEIR LOCAL GOALS

LEADS TO NEGOTIATING SIGNIFICANT AND EXCLUSIVE DISCOUNTS FOR OUR CUSTOMERS

Commercial conditions for Aniversário Decolar included:

Providers in ~90 destinations among hotels and activities500

1,100 Airlines routes from 10+ international airlines and 2 domestic airlines

6 Car rental companies

EXPECTED ACTUAL

D40 D35 D30 D25D180

100

80

60

40

20

0

D20 D15 D10 D5 D0

Potential support from Despegar To increase Load Factor on this flight

DAYS BEFORE FLIGHT

Expected vs. Actual Passengers for Airline A, Route 1

AIRLINE A, ROUTE 1AIRLINE A, ROUTE 2

AIRLINE B, ROUTE 1AIRLINE B, ROUTE 2

59

Firstly, by Positioning Despegar as a True Local Partner to Key Providers, Helping Them Achieve Their Local Goals


WEEK 24(June 9th -15th)

WEEK 25(June 16th - 22nd)

Mon Tue Wed ThuSun Fri Sat Mon Tue Wed ThuSun Fri Sat

BEACH(Caribbean / NE Brazil)

WINTERSouth America / Brazil

USACANADA

CULTURE(Europe / Brazilian capitals)

LAST CALL

60

Secondly, by Establishing Strong Relationships with Financial Partners to Deliver Value to Customers

61

TRUE CUSTOMER-LED EXPERIENCES ARE ONLY

POSSIBLE WITH DEEP LOCAL EXPERTISE


Local Knowledge Enables Despegar to Deploy Regional Platforms with Customized Features to Leverage Results, Such as “ Pasaporte Despegar”

PARTNERSHIP WITH BEST POSITIONED BANK IN EACH LOCATION TO LAUNCH CO-BRANDED CREDIT CARD

TAILORED PROMOTIONS TO ENHANCE PROGRAM RESULTS AND LEVERAGE PROGRAM ASSETS

Increased points earned for trips (flights, packages, hotels) based on locations and/or providers

Differentiate number of points necessary for redemption based on provider and product

Launch of Co-Branded Credit Card in partnership with Santander Brasil

Passaporte points earned on everyday purchases + additional points earned on purchases made on Decolar

62


In Summary, Strong Local Presence Enables Development of Key Competitive Differentials Across LatAm

Rapid reaction to local market opportunities and/or threats

Understanding of local marketdynamics and creation of local commercial events

Development of customer-led experiences to cater to local needs

Customization of regional platforms to fully address and capture local market characteristics

63

DECEMBER2019


ABOUT _

SPEAKER _

ALEJANDRO STEINCHIEF CUSTOMER & OPERATIONS OFFICER


Centers of excellenceTailor made processes with partners

Senior management with deep knowledge and experience

Adapt to changing market conditions

An Efficient Delivery Platform Creating Room to Invest in Growth

2019F20182017

FULFILLMENT COSTS

100 99*89

73

18%

annual

savingsOPERATING LOSSES AND FRAUD

10088

72

2019F20182017

(*) Restructured Business Model To Focus On Customer Needs 65


(*) www.reclameaqui.com.br

Implementing a 3-Year Customer Experience Transformation

NPS POST-TRIPINDEXED Reclame Aqui Index*

NOVEMBER 2019

7.4

201920182017

100

108111

REPUTATION BRAZIL

Q3 19Q1 18

5.5

7.46.9

6.9

6.4

6.0

66


Monthly rules managed Promotions - Dynamic & Diverse

Transactions with installmentsCustomized Financing

Proprietary platform integrating multiple providers

Multiple partnerships fostering range of innovations in the e-travel industry

Approval Rate - Deep customer knowledge

Countries Local vs Cross Border

Payment Options Andean Region has 21% of Sales via non card Payments

Unique Payments Capabilities, Difficult to Replicate

BEST OFFERING

SUPERIORPERFORMANCE

20

Use Behavioural Data

Optimize Payment Network for Acquirers & Issuers

Bilateral Agreements

Recovery Strategies

91%

150+ 3K

+50%

FIRST TO MARKET

1

2

3

67BOLETO


Capturing synergies as we grow organically and inorganically

Expanding use of behavioral data and biometrics to optimize decisions

Driving incremental self-service adoption in customer care

Anticipating customer needs, eliminating unnecessary friction

Looking Ahead: Opportunities to Capture Further Value

1

2

3

4

68

DECEMBER2019

SOLID FINANCIAL POSITION TO CAPTURE GROWTH AND LEAD CONSOLIDATION

ABOUT _

SPEAKER _

ALBERTO LOPEZ GAFFNEYCHIEF FINANCIAL OFFICER


Leisure and online (asset light)

Brand, product and captive consumers

Sourcing capabilities

GEOGRAPHIC FOOTPRINT

Clear M&A Strategy Focused on Targets That Add to Despegar’s Core Competencies

WHY M&A AND WHY NOW?

Ample room to consolidate fragmented LatAm market

Strong synergy potential

Acknowledgement of revised valuation levels

Most online / leisure companies under pressure

LatAm only Br & Mx as priority, but opportunity drives decisions

Maximizing Despegar sourcing and delivery

Ability to capture operating leverage - scale, operating efficiency

ACQUISITION CRITERIA


UNIQUE CORE COMPETENCES

TURNAROUND OPPORTUNITIES

70


Case Study: Viajes Falabella

RATIONALE

GEOGRAPHIC FOOTPRINT

UNIQUE CORE COMPETENCES

TURNAROUND OPPORTUNITIES

60% packages penetration

High average ticket price

50% of sales originating with CMR/Falabella customers

Asset-light store platform

Strong brand awareness

Alliance with CMR credit card

+60% volume in Chile, reaching over 20% of market share

Sourcing upside

Apply Despegar’s efficient operating model to high-cost operating models

G&A and T&C Opportunities

(60%)

PRE ACQUISITION

2-YEAR PLAN

REVENUE MARGIN (as % GB)

EBITDA MARGIN (as % GB)

+200 bps

3x

SYNERGIES PLAN

FULFILLMENT COST PER ORDER

(70%)

TOP LINE GROWTH Accelerated leveraging CMR program and D! platform

71

OPPORTUNITY AND STRATEGY IN PLACE TO DELIVER

ECONOMIC UPSIDE

72


Despegar Is Weathering a Particularly Challenging Macro Cycle, with Positive LT Indicators

201720162015 2018 2019 LTM

+2.7

- 3.5

+0.3

+1.4

2.3%

- 2.1

- 3.3

+2.3

-0.5

+1.1

+2.0+1.6

+1.1

- 2.5

- 3.5

+0.9+0.3

+2.7

+2.0

+2.6

+0.0

ARGENTINA

BRASIL

MEXICO

LATAM

LATAM LAST 20 YEARS AVERAGE

GDP REAL GROWTH RATE Y/Y, %

ARGENTINA

BRASIL

MEXICO

LATAM

2.1%

2.3%

2.1%

RECENT REAL GROWTH BELOW LT AVERAGES

73

9%

WITH CURRENCIES DEVALUED VS. HISTORICAL AVERAGES

REAL DEVALUATION INDEX 1

20192015 2016 2017 2018

(1) Moving average considering data since 1997

5%

17%

11%


Past and Recent Industry Outperformance Signaling Positive Trajectory for Mid-cycle Performance

MID-TO-LT GROWTH DRIVERS

Economic activity

Potential for FX appreciation

FIXED 2017 PRICES

TRANSACTIONS IN MN

MID-CYCLE MACRO

2016 2017 2018 LTM2015

CAGR 25.1%

FXIMPACT

GB LOCAL CURRENCY GROWTH, % Y/Y

-3.2 % +6.1% +4.4% +5.2%+9.0 %

PAX INDUSTRY GROWTH Y/Y

+39.1

GB USD IN BN ASP USD

+7.6

+38.4

GB, TRANSACTIONS & ASP EVOLUTION

+29.2

+21.5

CONTINUED MARKET SHARE GAINS

ASP GAINS FROM RICHER PRODUCT MIX AND COMPLETE TRIPS

74

2016 2017 2018 LTM2015

14

12

10

8

6

4

2

0

495

485

475

465

455

445

435

425

415

492

452

467

454

444

3.3

4.5 4.73.6

4.7

10.510.4

9.17.2

7.7

DESPEGAR AIR MARKET SHARE

2015/2019 + 3pp

499


Take Rate Affected, Given Efforts to Maintain Growth and Gain Market Share Through Lower Client Revenue Contribution


Higher volumes to drive higher incentives

Lower pricing sensitivity + disposable income

MACRO

Preferred partner program

Bundles - Higher margin product mix

KEY INITIATIVES

75

2016 2017 2018 LTM2015

TAKE RATE EVOLUTION BREAKDOWN, %GB

11.0%11.3%11.8%

12.6%11.7%

62%

38%

63%

37%37%

65%

35%

72%

28%

73%

27%

PARTNER REVENUE %

CLIENT REVENUE %

11.24% at Partner Revenue constant product mix


Cost of Revenue Increasing Due to Higher Financing Costs, Partially Offset Through Efficiency Gains


Lower financing costs

Merchant mix Impact

CYCLE-DRIVEN

COST OF REVENUE EVOLUTION BREAKDOWN, % GB AND USD PER TRANSACTION

4.3%

COI & CCP, %

FULFILMENT & F&E, %

Operating leverage

Efficiency improvements

Opportunities in fraud and errors

SCALE AND OPERATIONAL EXCELLENCE

COI & CCP PER TRX, $

3.9% 3.2% 3.6% 3.8%

$12.5

$7.5

$11.4

$6.2$8.5$7.2

$9.9

$6.7

FULFILMENT & F&E PER TRX, $

$10.3

$6.7 1

ARG Rates Adjusted COI & CCP ($/transaction)2018: 8.72019: 8.3

76

37.6%

62.4%

35.2%

64.8% 37%

54.3%

45.7%

59.8%

40.2%

60.5%

39.5%

2016 2017 2018 LTM2015

(1) Excluding Viajes Flabella 6.6 $/Transaction


Our Brand Strength, Supports Lower Acquisition Costs in a Competitive Market


Strong brand awareness in LatAm

Marketing investment optimization -- lower acquisition cost

Diversify traffic sources

Loyalty

Personalization

MARKETING INVESTMENT EVOLUTION

71 67

7974

4.7%

100

64 EXCL. RE-BRANDING

3.7%

SALES & MARKETING, % OF GB

2016 2017 2018 LTM2015

MARKETING DIRECT INDEX, $ PER TRANSACTION

3.7% 3.7% 3.7% 3.4% S&M ex-Rebranding and VF

77


Support Areas Costs Showing Improving Trends, with Significant Operating Leverage to Capture Additional ValueTECHNOLOGY & CONTENT and G&A EVOLUTION, IN USD MM

1.7%

G&A, % GB

T&C, % GB

2016 2017 2018 LTM2015

COST PER TRANSACTION, $

5.5

5.0

4.5

4.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0 1.9% 1.6% 1.5% 1.5%

2.2% 2.0%1.6% 1.4% 1.8%

3.8% 3.9%

3.2%2.9%

3.3%

$13.3$14.8$15.9

$17.7$17.9


G&A centralization and automation

T&C development phase

MAIN INITIATIVES BEING IMPLEMENTED

HIGH OPERATING LEVERAGE LEVELS

VIAJES FALABELLA SYNERGY OPPORTUNITIES

$13.1

(1) Viajes Falabella 78

3.0% Ex-VF, SBC and Service Taxes

EXCL. VF 1, SBC and Service Taxes


Despegar Continues Investing to Further Strengthen its Competitive Moats and Deliver Higher Returns As the Cycle Turns

INVESTING IN A CHALLENGING CONTEXT

Attractive industry dynamics -

sizable, growing and fragmented

Strong investment in place

Trough point of economic cycle

79

#1 regional brand, consistently gaining market share

DESPEGAR POSITION AND STRENGTH

Strong FX adjusted and operating metrics

Superior business model - strong top and bottom line competitive advantages

Tangible upside from initiatives under development and operating model

5-YEAR PERSPECTIVE

Local Currency GB Growth of approximately 20%

Take rate 11.5%+

EBITDA margin 20%+Strong Cash Flow Generation

Despegar is positioned to deliver strong shareholder returns

Despegar is a unique opportunity in the travel market

Q&A


80

CLOSING REMARKS

1

2

3

4

81

Leading OTA in LatAm, a large market with unique preferences that require rapid adaption across geographies

Strong brand with a scalable and flexible business model to drive growth and ensure consumer loyalty, which positions us as the Partner of Choice

Delivering growth even as we currently navigate an adverse macro environment

Investing in multiple strategic initiatives for value creation and broadening our value proposition

THANK YOU!

CONTACT_INVESTOR RELATIONSNatalia Nirenberg

+54 911 2665 [email protected]

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