2021 ANNUAL REPORT

1 ANNUALREPORT2021 ANNUAL REPORT 2021 FLIGHT CENTRE TRAVEL GROUP LIMITEDFCTG ANNUAL REPORT 2021 Cover 3 FCTG ANNUAL REPORT 2021 Cover 32/9/21 4:16 pm2/9/21 4:16 pmOUR VALUES1 OUR PEOPLE Our company is our people. We care for our colleagues health and wellbeing, their personal and professional development and their financial security. We believe that work should be challenging and fun for everyone and through work we contribute to our OUR CUSTOMER We recognise that our customers always have a choice. We care about personally delivering amazing travel experiences. This is provided with honesty, integrity and a great attitude. It is the key to our company s success. The key measure of whether we really are personally providing our customers with an amazing experience, an amazing product and a very caring service is they will return again and BRIGHTNESS OF FUTURE We believe our people have the right to belong to a Team (family), a Village, an Area (tribe) and Nation (hierarchy) that will provide them with an exciting future and a supportive working community.

2 They also have the right to see a clear pathway to achieving their career goals. Promotion and transfers from within will always be our first TAKING RESPONSIBILITY We take full responsibility for our own successes or failures. We do not externalise. We accept that we have total ownership and responsibility, but not always control. As a company we recognise and celebrate our individual and collective EGALITARIANISM AND UNITY In our company, we believe that each individual should have equal privileges and rights. In all our countries and all our businesses there should be no them and us .OUR BUSINESS MODEL1 OWNERSHIP We believe each individual in our company should have the opportunity to share in the company s success through outcome-based incentives, profit share, BOS (franchises) and Employee and Leadership Share Schemes.

3 It is important that business leaders and business team members see the business they run as their INCENTIVES Incentives are based on measurable and reliable outcome-based KPIs. We believe that what gets rewarded, gets done . A reward for producing the needed outcome. If the right outcomes are rewarded, our company and our people will OUR STANDARD SYSTEMS ONE BEST WAY In our business there is always one best way to operate. These are standard systems employed universally until a better way is shown. This improved way becomes the one best way system . We value common sense over conventional FAMILY, VILLAGE, TRIBE Our structure is simple, lean, flat and transparent, with accessible leaders. Our business model is being one of the world s best and biggest small business operators.

4 There is a maximum of 4 and sometimes 5 layers. The village is an unfunded, self-help support group that forms an integral part of our structure. Family (Teams min 3, max 7 members) Villages (min 3, max 7 teams). Tribe (Areas min 10, max 20 teams). Nations/Brands (min 8, max 15 areas). Regions/States/Countries. Board and senior leadership PROFIT A fair margin resulting in a business profit is the key measure of whether we really are providing our customers with an amazing experience, an amazing product and a very caring service an experience they genuinely value and will pay us VISION, PURPOSE AND PHILOSOPHIESFor our company to survive, grow and prosper for the next 100 years and beyond, we must clearly define and live by our vision, purpose and philosophies.

5 We must protect and further develop our company culture and philosophies. Our culture must be robust and independent, with the ability to outlive our current and future VISION To become the world s most exciting and profitable travel retailer, personally delivering amazing experiences to our people, our customers and our partners. OUR PURPOSE To open up the world for those who want to see. FCTG ANNUAL REPORT 2021 Cover 4 FCTG ANNUAL REPORT 2021 Cover 42/9/21 4:16 pm2/9/21 4:16 pmFLIGHT CENTRE TRAVEL GROUP LIMITED (FLT) CORPORATE DIRECTORYD irectors Turner Smith Eales Baker GarnseySecretary SmithPrincipal registered office and place of business in Australia 275 Grey Street, South Brisbane QLD 4101 +61 7 3083 0088 Share register Computershare Investor Services pty ltd 200 Mary Street, Brisbane QLD 4000 +61 7 3237 2100 Auditor Ernst & Young 111 Eagle Street Brisbane QLD 4000 Stock exchange FLT shares are listed on the Australian Securities Exchange.

6 Web address DATES 2021/22 August 26, 2021 2020/21 full year results releasedSeptember 1, 2021 Director nomination deadlineOctober 20, 2021 ANNUAL General MeetingFebruary 24*, 2022 2021/22 half year results released* Dates are subject to change and the payment of any dividend is subject to the Board s financial REPORT covers the consolidated financial statements for the consolidated entity consisting of FLT and its subsidiaries. The financial REPORT is presented in Australian is a company limited by shares, incorporated and domiciled in description of the nature of the consolidated entity s operations and its principal activities is included in the review of operations and activities in the directors financial REPORT was authorised for issue by the directors on 26 August 2021. The directors have the power to amend and reissue the financial endorses the ASX's Corporate Governance Principles and Recommendations and complies in all areas, apart from amalgamating the Remuneration and the Nomination Committee.

7 Further information on FLT's compliance with the Corporate Governance Principles and Recommendations, including FLT s Corporate Governance Statement, can be found on the company's website, directory ..1 Chairman's message ..2FY21 results & overview ..4 Strategic update ..7 Outlook ..12 Directors' REPORT ..14 Auditor s independence declaration to the Directors of Flight Centre Travel Group Limited ..41 Statement of profit or loss ..42 Statement of other comprehensive income ..43 Statement of cash flows ..44 Balance sheet ..45 Statement of changes in equity ..46 Notes to the financial statements ..47 Directors declaration ..138 Independent Auditor's REPORT to the Members of Flight Centre Travel Group Limited ..139 Shareholder information ..146 Tax Transparency REPORT (unaudited) ..147 CONTENTSFCTG Financial REPORT 2021 for 1 FCTG Financial REPORT 2021 for 17/9/21 3:21 pm7/9/21 3:21 pmWelcome to our 2021 fiscal year (FY21) ANNUAL 12 months to June 30 2021 was, of course, another incredibly challenging period for people and businesses globally as governments ramped up their efforts to mitigate the health and economic impacts of COVID-19.

8 This saw most of the international travel restrictions that were adopted late in FY20 extended throughout FY21, along with curbs on other everyday Australia, we also encountered a year of domestic travel upheaval, as states responded to COVID outbreaks by frequently closing and re-opening their borders thereby creating a constantly changing and highly uncertain travel this domestic and international border upheaval continues, causing ongoing havoc for leisure and corporate travellers early in FY22, we are also encouraged by: Improved trading conditions in the Americas, UK and Europe, which are very important markets to us; and The vaccination programs early successes globally, which potentially deliver a safe and sensible path to a near-term return to some degree of normality and to longer term recovery.

9 EARLY PROGRESS ON THE PATH TO RECOVERYOur recovery trajectory to date has been broadly in line with expectations, although we did not initially anticipate the rolling shutdowns and border closures that we have encountered in various parts of the world and particularly in Australia. Our FY21 underlying loss finished at just over $500million and was in line with the market guidance that we provided in May 2021, before the latest round of extensive lockdowns across revenue increased month-on-month throughout FY21, with this revenue growth offsetting the JobKeeper subsidy reduction in Australia at the end of the second quarter (Q2) and the program s removal at the end of Q3. JobKeeper s removal was premature in our view given the heavy domestic travel restrictions that are still in place some five months later and the fact that there is not yet a definitive timeframe for international travel s return.

10 This ability to maintain a global revenue growth trajectory throughout FY21 despite regular border disruptions in Australia and other parts of the world again underlines our business s diversity, which we consider to be one of its great strengths. For example, our US businesses performed strongly late in Q4 and into July 2021 to offset the inevitable slowdown we experienced in Australia and New Zealand when border restrictions were again applied late in the year. Our US leisure and wholesale businesses, Liberty and GOGO, were profitable late in FY21 and into July 2021. Our Mexico business was also profitable towards the end of FY21, while the Americas-based Discova destination management business has delivered record results is in addition to businesses that have been consistently profitable throughout the year like AVMIN (our aircraft charter division) and our United Arab Emirates corporate of the travel industry, the Pedal Group cycle business, which FLT has a ownership in, continues to deliver record profits.