Hudson : Q1 2020 Earnings Presentation

INTRODUCTION

ROGER FORDYCE

CHIEF EXECUTIVE OFFICER

ADRIAN BARTELLA

CHIEF FINANCIAL OFFICER

PRESENTERS

DISCLAIMER

THIS PRESENTATION CONTAINS "FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 (REFORM ACT). FORWARD-

LOOKING STATEMENTS ARE BASED ON OUR BELIEFS AND ASSUMPTIONS AND ON INFORMATION CURRENTLY AVAILABLE TO US, AND INCLUDE, WITHOUT LIMITATION, STATEMENTS REGARDING OUR BUSINESS, FINANCIAL CONDITION, STRATEGY, RESULTS OF OPERATIONS, CERTAIN OF OUR PLANS, OBJECTIVES, ASSUMPTIONS, EXPECTATIONS, PROSPECTS AND

BELIEFS, THE EFFECTS OF THE NOVEL CORONAVIRUS (COVID-19) ON THE DEMAND FOR AIR AND OTHER TRAVEL, OUR SUPPLY CHAIN, AS WELL AS THE IMPACT ON OUR BUSINESS, FINANCIAL CONDITION AND RESULTS OF OPERATIONS AND STATEMENTS REGARDING OTHER FUTURE EVENTS OR PROSPECTS. FORWARD-LOOKING STATEMENTS INCLUDE ALL

STATEMENTS THAT ARE NOT HISTORICAL FACTS AND CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY SUCH AS THE WORDS "BELIEVE," "EXPECT," "PLAN," "INTEND," "SEEK," "ANTICIPATE," "ESTIMATE," "PREDICT," "POTENTIAL," "ASSUME," "CONTINUE," "MAY," "WILL," "SHOULD," "COULD," "SHALL," "RISK" OR THE NEGATIVE OF THESE TERMS OR SIMILAR

EXPRESSIONS THAT ARE PREDICTIONS OF OR INDICATE FUTURE EVENTS AND FUTURE TRENDS. BY THEIR NATURE, FORWARD-LOOKING STATEMENTS INVOLVE RISKS AND UNCERTAINTIES BECAUSE THEY RELATE TO EVENTS AND DEPEND ON CIRCUMSTANCES THAT MAY OR MAY NOT OCCUR IN THE FUTURE. WE CAUTION YOU THAT FORWARD-LOOKING

STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND THAT OUR ACTUAL RESULTS OF OPERATIONS, FINANCIAL CONDITION AND LIQUIDITY, THE DEVELOPMENT OF THE INDUSTRY IN WHICH WE OPERATE AND THE EFFECT OF ACQUISITIONS ON US MAY DIFFER MATERIALLY FROM THOSE MADE IN OR SUGGESTED BY THE FORWARD LOOKING STATEMENTS

CONTAINED IN THIS PRESENTATION. IN ADDITION, EVEN IF OUR RESULTS OF OPERATIONS, FINANCIAL CONDITION AND LIQUIDITY, THE DEVELOPMENT OF THE INDUSTRY IN WHICH WE OPERATE AND THE EFFECT OF ACQUISITIONS ON US ARE CONSISTENT WITH THE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESENTATION, THOSE RESULTS OR

DEVELOPMENTS MAY NOT BE INDICATIVE OF RESULTS OR DEVELOPMENTS IN SUBSEQUENT PERIODS. FORWARD-LOOKING STATEMENTS SPEAK ONLY AS OF THE DATE THEY ARE MADE, AND WE DO NOT UNDERTAKE ANY OBLIGATION TO UPDATE THEM IN LIGHT OF NEW INFORMATION OR FUTURE DEVELOPMENTS OR TO RELEASE PUBLICLY ANY REVISIONS TO THESE

STATEMENTS IN ORDER TO REFLECT LATER EVENTS OR CIRCUMSTANCES OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS. FACTORS THAT MAY CAUSE OUR ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED BY THE FORWARD-LOOKING STATEMENTS IN THIS PRESENTATION, OR THAT MAY IMPACT OUR BUSINESS AND

RESULTS MORE GENERALLY, INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS DESCRIBED UNDER "ITEM 3. KEY INFORMATION-D. RISK FACTORS" OF OUR ANNUAL REPORT ON FORM 20-F FOR THE YEAR ENDED DECEMBER 31, 2019 WHICH MAY BE ACCESSED THROUGH THE SEC'S WEBSITE AT HTTPS://WWW.SEC.GOV/EDGAR. YOU SHOULD READ THESE RISK FACTORS

BEFORE MAKING AN INVESTMENT IN OUR SHARES.

THIS PRESENTATION CONTAINS A DISCUSSION OF ADJUSTED EBITDA AND ADJUSTED NET PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT, WHICH ARE NON-IFRS FINANCIAL MEASURES. WE DEFINE ADJUSTED EBITDA AS NET PROFIT (LOSS) ADJUSTED FOR CERTAIN ITEMS AND WE DEFINE ADJUSTED NET PROFIT (LOSS) ATTRIBUTABLE TO EQUITY HOLDERS OF

THE PARENT AS NET PROFIT (LOSS) ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT ADJUSTED FOR CERTAIN ITEMS, EACH AS SET FORTH IN THE RECONCILIATION TO THE MOST DIRECTLY COMPARABLE IFRS MEASURE IN THE APPENDIX. ADJUSTED EBITDA AND ADJUSTED NET PROFIT (LOSS) ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT ARE NOT

SUBSTITUTES FOR IFRS MEASURES IN ASSESSING OUR OVERALL FINANCIAL PERFORMANCE. BECAUSE ADJUSTED EBITDA AND ADJUSTED NET PROFIT (LOSS) ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT ARE NOT DETERMINED IN ACCORDANCE WITH IFRS, AND ARE SUSCEPTIBLE TO VARYING CALCULATIONS, ADJUSTED EBITDA AND ADJUSTED NET PROFIT (LOSS)

ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT MAY NOT BE COMPARABLE TO OTHER SIMILARLY TITLED MEASURES PRESENTED BY OTHER COMPANIES. ADJUSTED EBITDA AND ADJUSTED NET PROFIT (LOSS) ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT ARE INCLUDED IN THIS PRESENTATION BECAUSE THEY ARE MEASURES OF OUR OPERATING

PERFORMANCE AND WE BELIEVE THAT ADJUSTED EBITDA AND ADJUSTED NET PROFIT (LOSS) ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT ARE USEFUL TO INVESTORS BECAUSE THEY ARE FREQUENTLY USED BY SECURITIES ANALYSTS, INVESTORS AND OTHER INTERESTED PARTIES IN THEIR EVALUATION OF THE OPERATING PERFORMANCE OF COMPANIES IN

INDUSTRIES SIMILAR TO OURS. ADJUSTED EBITDA AND ADJUSTED NET PROFIT (LOSS) ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT HAVE LIMITATIONS AS ANALYTICAL TOOLS, AND YOU SHOULD NOT CONSIDER THESE MEASURES IN ISOLATION, OR AS A SUBSTITUTE FOR AN ANALYSIS OF OUR RESULTS AS REPORTED UNDER IFRS AS ISSUED BY IASB.

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