GLOBAL BLUE RELEASES THE MONTHLY TAX FREE SHOPPING BUSINESS UPDATE FOR OCTOBER 2022 Signy, Switzerland, November 10, 2022 Fresh data from Global Blue reveals that the dynamic recovery for Tax Free Shopping has been accelerating across Asia Pacific, while remaining solid in Continental Europe. In Continental Europe, issued Sales in Store like-for-like reached a recovery of 102%1 in October vs. the same period in 2019. Restated for the Golden Week impact2, the recovery would have been 111%1 in line with September trends. US nationals and Gulf Corporation Council citizens continue to lead this recovery. In Asia Pacific, the dynamic recovery has significantly improved, reaching 68%1 in October vs. the same period in 2019, with no Golden Week basis effect. In Japan, recovery accelerated steadily after the removal of all sanitary measures. Recovery in Continental Europe remains on solid footing In Continental Europe, recovery continues to stay solidly above 2019 levels. It reached 102%1 in October 2022 vs. 2019. Within reopened travel corridors3, the recovery reached 151%1. In terms of origin markets, Global Blue data shows a strong dynamic recovery across all nationalities. Recovery for US nationals remains strong with a recovery of 262%1 vs. the same period in 2019. For Gulf Cooperation Council citizens, recovery is equally strong at 256%1 vs. the same period in 2019. For both nationalities, a stable recovery of traffic and strong currencies against the euro continue to fuel their lead in the recovery. Even with the absence of Chinese nationals, most destination markets in Europe continue to remain firm. The recovery was predominantly led by Portugal at 152%1, Greece at 142%1, France at 130%1, and Italy at 98%1. Recovery in Asia Pacific picks up momentum In Asia Pacific, the recent abolition of sanitary measures in Japan and South Korea has led to positive developments with October recovery reaching 68%1 vs. the same period in 2019, Within reopened travel corridors3, the recovery reached 107%1. 1 Recovery rate is equal to 2022 Issued Sales In Store divided by 2019 Issued Sales In Store, like-for-like (ie: at constant merchant scope and exchange rates). 2 Golden Week impact restatement: 2019 basis of comparison restated to have a comparable nationality mix in October and September, removing the seasonal holiday peak linked to Golden Week Chinese holiday season 3 Open corridor is defined as a travel line between 2 countries, where there is no more sanitary or visa restrictions to go in the destination country and to come back in the origin country.
In terms of destination markets, Japan is leading the recovery with 68%1. Thanks to the removal of sanitary restrictions and a weak currency, recovery in Japan exceeded 2019 levels for all nationalities (except Chinese citizens). After Japan, recovery was closely followed by both Singapore and South Korea at 67%1. APPENDIX Glossary - Gulf Cooperation Council countries include: Kuwait, Qatar, Saudi Arabia, United Arab Emirates, Bahrain, Oman - South East Asia include: Indonesia, Thailand, Cambodia, Phil ippines, Vietnam, Malaysia, Singapore - North East Asia include: Japan, Korea YTD Data Issued SIS L/L recovery4 ( in % of 2019) October 2022 Q3 2022 July 2022 Q2 2022 Q1 2022 Continental Europe 102% 101% 95% 75% 53% Asia Pacific 68% 51% 52% 39% 16% TOTAL 93% 89% 85% 65% 40% MEDIA CONTACTS Virginie Alem – SVP Marketing & Communications Mail: valem@globalblue.com INVESTOR RELATIONS CONTACTS Frances Gibbons – Head of Investor Relations Mob: +44 (0)7815 034 212 Mail: fgibbons@globalblue.com ABOUT GLOBAL BLUE Globa l Blue pioneered the concept of Tax Free Shopping 40 years ago. Through continuous innovation, we have become the leading strategic technology and payments par tner, empowering retai lers to improve their per formance and shoppers to enhance their experience. Globa l Blue offers innovative solution s in three different fie lds: • Tax Free Shopping: Helping retai lers at over 300,000 points of sale to e ffic ient ly manage 35 mil l i on Tax Free Shopping transactions a year, thanks to i ts fu l ly in tegrated in -house technology plat form. Meanwhi le , i ts industry -leading digi tal Tax Free shopper so lutions create a better , more seamless customer experience . • Payment services: Providing a ful l suite of foreign exchange and Payment technology solutions that a l low acquirers, hote ls, and retai lers to offer value -added services and improve the cus tomer experience during 31 mi l l ion payment transactions a year at 130,000 points of interaction . • Complementary Reta ilTech: Offer ing new technology so lutions to retai lers, including digi tal receipts and eCommerce returns , that can be eas i ly integrated with their core systems and al low them to optimize and digita l ize their processes throughout the omni -channe l customer journey, both in-store and online. In addi t ion, our data and advisory serv ices offer a strategic advisory to help retai lers identify opportunit ies for growth, whi le our shopper exper ience and engagement solut ions provide data -dr i ven solutions to increase footfal l , convert footfa ll to revenue and enhance performance. For more in formation, vis i t http://www.globalblue.com/corporate/ Global Blue Monthly Speaker Notes Data, September 2022, Source: Global Blue 4 Recovery rate is equal to 2022 Issued Sales In Store divided by 2019 Issued Sales In Store, like-for-like (ie: at constant merchant scope and exchange rates)