• Potential adjustments to timing of revenue and cost recognition in European region
• Aggregate impact expected to increase prior year earnings and reduce current year earnings
• No impact to operating cash flows or FY26 operations

Corporate Travel Management Ltd (CTM) has announced that in the course of preparing its FY25 results, its auditors have identified potential adjustments required relating to the timing of recognition of certain revenues and costs between FY25 and prior comparative reporting periods. This issue is isolated to the European region only. Based on initial indications, the nature of any restatement would be to increase prior year(s) earnings and reduce current year's (FY25) earnings. However, the final amount of any corrections and the financial years to which they may apply are still being determined. CTM has requested a voluntary suspension of its shares on the ASX until it can release its FY25 accounts, which it is targeting to do by 25 September 2025. The company has stated that the potential restatement is non-cash in nature and primarily reflects timing differences across accounting periods, with no impact on operating cash flows in FY25 or past financial years, and no impact on FY26 operations. CTM generated strong operating cash flows in FY25 with $124 million in cash on the balance sheet and no debt at year-end. The company expects to provide FY25 details and FY26 guidance upon finalizing the accounts.