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  "documentTitle": "2025 Q1 Results Presentation 2",
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  "authorName": "Amadeus",
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  "notes": "This is a standard financial disclosure slide defining non-IFRS metrics.",
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      "text": "EBITDA corresponds to IFRS Operating income plus Depreciation and amortization. EBITDA margin is the percentage resulting from dividing EBITDA by Revenue.\nAdjusted operating income corresponds to IFRS Operating income adjusted for PPA amortization and impairments. Adjusted operating income margin is the percentage resulting from dividing Adjusted operating income by Revenue.\nAdjusted profit corresponds to IFRS Profit, after adjusting for the after-tax impact of: (i) accounting effects derived from PPA exercises and impairment losses, (ii) non-operating exchange gains (losses), and (iii) other non-operating income (expense). Adjusted EPS - Basic is calculated by dividing the Adjusted profit attributable to the owners of the parent by the weighted average number of ordinary shares issued during the period, excluding weighted average treasury shares. In turn, Adjusted EPS - Diluted is calculated by dividing the Adjusted profit attributable to the owners of the parent plus the convertible bond's discount accounted for in accordance with the effective interest rate method, by the weighted average number of ordinary shares issued during the period, excluding weighted average treasury shares plus potentially dilutive ordinary shares. Adjusted profit attributable to the owners of the parent corresponds to IFRS Profit attributable to the owners of the parent, after adjusting for the after-tax impact of: (i) PPA amortization and impairments, (ii) non-operating exchange gains (losses), and (iii) other non-operating income (expense).\nFree cash flow is defined as (i) EBITDA, plus (ii) changes in our working capital, minus (iii) capital expenditure, taxes paid and interests and financial fees paid (net of interests received). Change in working capital includes changes in trade receivables, other current assets, trade payables, other current liabilities and other non-current liabilities. It excludes payments of non-financial liabilities from acquired subsidiaries, since they do not form part of Amadeus' operating activity, as they have been triggered by the M&A transactions. Capital expenditure includes payments for the acquisition of PP&E and intangible assets, as well as proceeds from disposal of non-current assets.\nLeverage is defined as the net financial debt divided by the last-twelve-month EBITDA, as per credit facility agreements. Financial debt as per our credit facility agreements is calculated as current and non-current debt (as per the financial statements), adjusted for operating lease liabilities (as defined by the previous Lease accounting standard IAS 17, and now considered lease liabilities under IFRS 16), and non-debt items (such as deferred financing fees and accrued interest). Net financial debt is calculated as financial debt as per our credit facility agreements, less cash and cash equivalents and short-term investments.",
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      "text": "See next slide for reconciliations of APMs to IFRS figures, and section 4.2 of First quarter 2025 Management Review for further details (link).",
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      "kind": "title",
      "text": "Alternative Performance Measures",
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