make my trip investor presentation

News Releases

Ctrip announces investment in makemytrip.

SHANGHAI , Jan. 7, 2016 /PRNewswire/ -- Ctrip.com International, Ltd. (NASDAQ: CTRP) ("Ctrip") today announced that it will invest US$180 million in MakeMyTrip Limited (NASDAQ: MMYT)   (" MakeMyTrip ") , India's largest online travel company, via convertible bonds. In addition, MakeMyTrip has granted Ctrip permission to acquire MakeMyTrip shares in the open market, so that combined with shares convertible under the convertible bonds, Ctrip may beneficially own up to 26.6% of MakeMyTrip's outstanding shares. Upon completion of the investment, Ctrip will acquire the right to appoint a director to the MakeMyTrip board of directors.

Deep Kalra, Founder and    Group CEO, MakeMyTri p s aid, "We are delighted to have Ctrip invest in us. Ctrip is the dominant market leader in the online travel market in China . We believe there are many similarities in the Indian and Chinese online travel markets and we expect this strategic relationship between two market leaders to be mutually beneficial."

James Liang , Co-founder, Chairman, and CEO of Ctrip.

About Ctrip.com International, Ltd.

Ctrip.com International, Ltd. is a leading travel service provider of accommodation reservation, transportation ticketing, packaged tours, and corporate travel management in China . It is the largest online consolidator of accommodations and transportation tickets in China in terms of transaction volume. Ctrip enables business and leisure travelers to make informed and cost-effective bookings by aggregating comprehensive travel related information and offering its services through an advanced transaction and service platform consisting of its mobile apps, Internet websites and centralized, toll-free, 24-hour customer service center. Ctrip also helps customers book vacation packages and guided tours. In addition, through its corporate travel management services, Ctrip helps corporate clients effectively manage their travel requirements. Since its inception in 1999, Ctrip has experienced substantial growth and become one of the best-known travel brands in China .

For further information, please contact:

Investor Relations

Ctrip.com International, Ltd. Tel: (+86) 21 3406 4880 X 12300 Email: [email protected]  

To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/ctrip-announces-investment-in-makemytrip-300200942.html

SOURCE Ctrip.com International, Ltd.

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MakeMyTrip Limited

Mu0295s00016, leisure & recreation.

• MakeMyTrip : Investor Presentation March 2020

MakeMyTrip Limited (NASDAQ: MMYT)

Investor Presentation March 2020

Safe Harbor

Certain statements contained in this presentation are "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements reflect our current expectations or forecasts of future events and our future performance and do not relate directly to historical or current events or our historical or current performance and are subject to risks and uncertainties, some of which are outside of our control, that could cause actual outcomes and results to differ materially from historical results or current expectations. Most of these statements contain words that identify them as forward looking, such as "anticipate", "estimate", "expect", "project", "intend", "plan", "believe", "seek", "will", "may", "should", "opportunity", "target" or other words that relate to future events, as opposed to past or current events. Among the factors that could cause actual results to differ materially include, but are not limited to, the slowdown of economic growth in India and the global economic downturn, general declines or disruptions in the travel industry, the inability to successfully integrate the businesses of MMYT and ibibo Group within the anticipated timeframe or at all, the risk that the acquisition will disrupt current plans and operations, increase in operating costs and potential difficulties in customer or supplier loss and employee retention as a result of the acquisition, the inability to recognize the anticipated benefits of the combination of MMYT and ibibo Group, including the realization of

revenue and cost synergy benefits within the anticipated timeframe or at all, volatility in the trading price of MMYT's shares, MMYT's reliance on its relationships with travel suppliers and strategic alliances, failure to further increase MMYT's brand recognition to obtain new business partners and consumers, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in India and overseas, failure to successfully develop MMYT's corporate travel business, damage to or failure of MMYT's infrastructure and technology, loss of services of MMYT's key executives, and inflation in India and in other countries. In addition to the foregoing factors, a description of certain other risks and uncertainties which may cause actual results to differ materially can be found in the "Risk Factors" section of MMYT's 20-F dated July 23, 2019 filed with the U.S. Securities Exchange Commission ("SEC"), copies of which are available from the SEC, our website or our Investor Relations

department.

We cannot assure you that the assumptions made in preparing any of the forward-looking statements will prove accurate or that any projections will be realized. We expect that there will be differences between projected and actual results. These forward-looking statements speak only as of the date of this presentation, and we do not undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements attributable to us are expressly qualified in their entirety by the cautionary statements contained herein and in our future annual and quarterly reports as filed with the SEC.

Non-IFRS Metrics & Note on Unaudited Financials

The following non-IFRS metrics will be used in this presentation:

Gross Bookings represents total amount paid by our customers for travel services and products booked through us, including taxes, fees, and other charges, and are net of cancellations, discounts and refunds, but does not include other revenues that are generated from 3 rd party advertisement on our website, commissions and fees earned from the sale of rail tickets and fees earned by facilitating travel insurance policies to customers.

Adjusted Revenue represents IFRS revenue after adding back promotion expenses in the nature of customer discounts, customer inducement or acquisition costs and loyalty programs costs which are reported as a reduction of revenue, and deducting the cost of acquisition of services primarily relating to sales to customers where the company acts as the principal. We believe that Adjusted Revenue reflects the value addition of the travel services that we provides to our customers.

Adjusted Revenue Margins is defined as Adjusted Revenue as a percentage of Gross Bookings, and represents commissions, fees, incentive payments and other amounts earned in our business. We follow adjusted net revenue margin trends closely across our various lines of business to gain insight into the profitability of our various businesses.

Flight Segment is defined as a flight between two cities, whether or not such flight is part of a larger or longer itinerary.

Room Nights, also referred to as a "hotel-room nights," is the total number of hotel rooms occupied by a customer or group, multiplied by the number of nights that such customer or group occupies those rooms.

Constant Currency refers to our financial results assuming constant foreign exchange rates for the current fiscal period based on the reporting for the historical average rate used in the prior year's comparable fiscal period.

Fiscal Year End - March 31 st

Key Investment Highlights

Market Leader with Multiple Well Recognized Online Travel Brands

High Growth & Share Gains in Underpenetrated Travel Segments

Super App - One Stop for End to End Booking Travel Services

Strong Partnership with Fragmented Accommodations Supply Ecosystem

Culture of Continuous Product Innovations

Supported by Robust Tech Platforms to Drive Scalability

Demonstrated Operating Leverage with Scale in Multiple Travel Segments

Experienced Management Team with Deep Knowledge of Local Travel Landscape

Long Term Macro Growth Drivers Available

2nd Largest Base

of Internet Users (in millions)

Growth Driven by

Low Internet Penetration

2nd Largest Base of Smartphone Users (in millions)

Large Growth Opportunities Ahead

India Travel Market FY2019

(In $ billions of Bookings)

FY19 - FY25 CAGR

Outbound 11%

India Travel Market FY2025

Source: Goldman Sachs Research Estimates

Market Leader with Superior Domestic Brand Awareness

Top Of Mind Awareness

Consideration Top Box Score

Competitors

Source: January2020 KANTAR Brand Health Report commissioned by Company

Redbus data from 14th Wave of the Brand Track for India conducted by Nepa

Super App of Travel with Multiple Brands - Catering to All Travelers

• Air Ticketing - Domestic & International

• Hotel Bookings - Domestic & International

• Alternative Accommodations

• Holiday Packages - Domestic & Outbound

• Bus Ticketing - B2C & Supplier Backend Solutions

• Intercity Cabs

• Rail Ticketing

• Attractions & Activities Bookings

• Informational Services - Flights & Rail

• Payment Options & Flexibility

+46 Million Transacted Customers

(Life to Date)

Travel Market with Long Term Growth Potential in Underpenetrated Segments

Online Flight Ticketing

• Leading Domestic & International Online Market Share
• 3rd Largest Aviation Market by 2022 with Liberal Open Sky Policy
• Strong Pent Up Demand for Air Travel
• Domestic Fleet Size to Double to 1,200 planes in next 4 to 5 years
• UDAN Program to Drive Greater Domestic Connectivity
• 200 operational airports by 2024 (70 airports International ready) - Aviation Ministry Sept 2019

Online Hotel Booking

• Highly Fragmented Supply Landscape
• Overall Market Size Widens with Alternative Accommodations
• Currently Offer 72K Domestic Properties (Including 19K Alternative Accommodations)
• Estimated Domestic Supply of 2 Million Rooms & Growing
• Increasing Supply in Budget Segment via Alternative Accommodations
• Tech Enabled Solutions for Partners to Create Value

Source : Morgan Stanley India Internet: Chart of the Week: Online penetration of hotel bookings is low and has room to grow

Source: Vision 2040 for the Civil Aviation Industry in India - KPMG Jan 2019

Full Range of Accommodations Offered in Underpenetrated Market

Unit Economics Positive Across Entire Range of Accommodations Sold

All Tiers Growing Positively in Room Nights Stayed

Focusing on Alternative Accommodations Growth

• Alternative to traditional hotel experience

• Supported by Customer

Service Pledge & Guarantee

• Broadens Customer Reach

• Marketing via Traditional &

Social Media Channels

• Partnering with State tourism boards to promote local & community based travel

• Increasing supply with +19,000 properties bookable in India

redBus - Leading Intercity Bus Ticketing Brand

- Comprehensive selection & choice of intercity bus operators (public & private)

- Leading bus ticketing brand with superior customer experience

- Supplier platform for bus operators to quickly transition online for inventory & distribution management

- High operator fragmentation & low online booking penetration offers growth opportunities

- Model highly scalable beyond India - operating in LATAM & Southeast Asia

Activities & Experiences - Greater Brand Stickiness & Increased Platform Usage

• +33k Activities &

Experiences Available

(Domestic & International)

• Driving Greater App

Usage Frequency

• Integrated with Archaeological Survey of India (ASI) - entry tickets to all monuments across India

• Acquisition of New Users to Overall Platform

Mobile Centric Approach Driving High Direct & Repeat Traffic

Innovative & Effective Loyalty Programs Helping Drive Greater Customer Retention

Gaining Greater Corporate Travel Wallet Share

Online & Automation Focused Solutions to Address

Large Corporate Travel Market

Robust & Innovative Technology Platform to Drive Super App Vision

Corporate Social Responsibility

Restoration & Development

• Boost cleanliness and sanitation in popular tourism spots - Zero Waste Destinations
• Partnership with World Wide Fund India to establish homestays & eco cafes to provide economic opportunities
• Campaign for responsible tourism with stakeholders
• Be part of solution to fight drastic climate change & global warming
• Dense Afforestation using the Miyawaki Technique of Plantation with 1 million trees planted in Ladakh
• Partnership with Andaman Islands Government to make island single use plastic free
• Single Use Plastics Free office
• Adoption of UNESCO Heritage sites across India
• Aid in Restoration of Important sites to generate interest in local history and drive tourism
• History of providing Aid in Times of Natural Calamities

Invest resources and create awareness to support sustainable

& responsible tourism in India

Experienced Founding & Management Team Driving Execution

Mohit Kabra

Group Chief Financial Officer

• 25+ Years of Experience
• Prior Experience: Kohler India, PepsiCo, Colgate & Seagram
• Bachelor of Commerce - Osmania University
• Chartered Accountant from Institute of Chartered Accountants of India
• Cost Accountant from Institute of Cost Accountants of India

Financial Overview

Results presented include the consolidation of ibibo group from

February 1, 2017 onwards, unless otherwise noted

Leading OTA in India with Considerable Business Scale (FY2019)

9 Months YTD Fiscal Year 2020 Financial Summary

Demonstrated Ability to Drive Operating Cost Efficiencies in Fiscal Year 2020

Focused on Growth, Share Gains & Improved Operating Efficiencies

during Challenging Macro & Industry Operating Conditions

Source: Company data, SEC 6-K Filings

Total Gross Bookings includes Bus Ticketing bookings, Marketing & Sales Promotion Expenses includes adjustments for promotions netted against adjusted revenue and loyalty program costs

1 Includes one-time acceleratedpersonnel cost of $2.5 million

Improving Mix and Margins with Strategic Focus on Hotels and Packages

Playbook of Driving Scale & Efficiencies - Started with Air & Holidays, Now Focusing on Hotels

% of Gross Bookings

Personnel Expenses Payment Gateway SGA Marketing & Sales Promotion Depreciation & Amortization

Proforma FY17 basis Management estimates

Personnel Expenses excluded share based compensation charges and severance cost related to a prior acquisition Depreciation and amortization excluded acquisition related intangibles amortization and impairment of intangible assets SGA excluded Merger and acquisitions related expenses

Marketing & Sales Promotion Include adjustments for promotions netted against adjusted revenue and loyalty program 25 costs

Attachments

• Original document

MakeMyTrip Limited published this content on 12 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 March 2020 22:37:03 UTC

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The Board of Directors of MakeMyTrip Limited (the "Company") sets high standards for the Company's employees, officers and directors. Implicit in this philosophy is the importance of sound corporate governance. It is the duty of the Board of Directors to serve as a prudent fiduciary for shareholders and to oversee the management of the Company's business. To fulfill its responsibilities and to discharge its duty, the Board of Directors follows the procedures and standards that are set forth in these guidelines. These guidelines are subject to modification from time to time as the Board of Directors deems appropriate in the best interests of the Company or as required by applicable laws and regulations.

Committe Charters

Audit committee, compensation committee, governance documents, anti corruption compliance policy, disclosure controls and procedures, code of business conduct and ethics, whistleblower policy, insider trading policy.

The Nasdaq Marketplace Rules, or the Nasdaq Rules, provide that foreign private issuers may follow home country practice in lieu of the corporate governance requirements of the Nasdaq Stock Market LLC, subject to certain exceptions and requirements and except to the extent that such exemptions would be contrary to US federal securities laws and regulations. The significant differences between our corporate governance practices and those followed by US companies under the Nasdaq Rules are summarized as follows:

• We follow home country practice that permits our audit committee to consist of less than three members, in lieu of complying with Rule 5605(c)(2)(A) of the Nasdaq Rules that requires each company to have an audit committee of at least three members. We currently have an audit committee that consists of two members and a non-voting observer.
• We follow home country practice that permits our board of directors to consist of less than a majority of independent directors, in lieu of complying with Rule 5605(b)(1) of the Nasdaq Rules that requires that the board of directors consist of a majority of independent directors.
• We follow home country practice that permits our board of directors not to implement a nominations committee, in lieu of complying with Rule 5605(e) of the Nasdaq Rules that requires the implementation of a nominations committee.
• We follow home country practice that permits us not to hold regular executive sessions where only independent directors are present, in lieu of complying with Rule 5605(b)(2) of the Nasdaq Rules that requires that regular executive sessions are held where only independent directors are present.
• We follow home country practice that permits us not to obtain shareholder approval for any material amendment to our share incentive plans, in lieu of complying with Rule 5635(c) of the Nasdaq Rules that requires that us to obtain shareholder approval prior to the issuance of securities when a stock option or purchase plan is materially amended.

Other than the above, we have followed and intend to continue to follow the applicable corporate governance standards under the Nasdaq Marketplace Rules.