Risk Factors Update Summary

• Added "Tax Risks" related to exposure to additional tax liabilities and maintaining tax benefits.
• Addressed risks related to the use of generative AI technologies, including potential biases and legal compliance.
• Added critical importance of mobile bookings for attracting consumers and maintaining market share.
• Subsidiaries subject to regulations for investors owning 10%+ of shares, impacting ownership structure.
• Mentioned the termination of the acquisition of Etraveli Group after the European Commission blocked the transaction.
• Mentioned risks related to legal, regulatory, and compliance risks, excluding tax.
• Failure to comply with obligations may lead to loss of ability to accept certain card payments.
• Added risks related to the growth of alternative accommodations business, impacting profits and liability claims.
• Discussed risks associated with the growth of alternative accommodations business and regulatory developments.
• Increased focus on ESG practices, including climate-related commitments and reporting standards.
• Highlighted the impact of economic and political uncertainty on consumer discretionary spending.
• Highlighted the potential impact of the Digital Markets Act on compliance costs and business practices.
• Noted the increased competition from large global technology companies like Google, Apple, and Amazon.
• Noted the ongoing Swiss investigation into Booking.com's commissions and potential impact on operations.
• Discussed the potential negative impact of the Inflation Reduction Act's corporate minimum tax on cash flows.
• Addressed the evolving laws and regulations around data privacy and the potential impact on compliance costs.
• Mentioned the risks associated with facilitating payments, including fraud and chargebacks.