• Revenue and Underlying EBITDA of AUD 348.5m and AUD 77.7m respectively
• Cash balance of AUD 121.2m, impacted by working capital and remediation costs
• Finalizing UK remediation plan, targeting FY25 audited financials in Q2 2026

Corporate Travel Management (CTM) has provided a trading update for the half year ended 31 December 2025 (1HFY26), based on unaudited consolidated management accounts. The company reported revenue and other income of AUD 348.5 million and Underlying EBITDA of AUD 77.7 million, with an Underlying EBITDA margin of 22.3%. Cash at 31 December 2025 was AUD 121.2 million, reflecting the working capital impact of revised IATA arrangements and payments to key impacted UK customers as part of the remediation program. CTM continues to win new business, with client retention remaining strong at or above 97%. However, the company expects some moderation in trading conditions and softer performance in 2HFY26 due to the prolonged uncertainty. Work on the UK forensic accounting review is approaching finalization, and CTM is targeting the issuance of audited FY25 financial statements and reviewed 1HFY26 financial statements, as well as the reinstatement of CTM's shares trading on the ASX, in Q2 calendar year 2026. The company has also undertaken a review to confirm whether matters similar to those identified in the UK were present in other regions, but no material issues of a similar nature were found outside the UK.