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Global Blue Releases the Monthly Tax Free Shopping Business Update for January 2025

1. Continental Europe saw a +19% increase in sales in January 2025. 2. US Tax Free Spend increased by +34%, leading origin markets. 3. Asia Pacific stores grew by +46%, driven by significant shopper increases. 4. January performances: South Korea +72%, Japan +56%, strong across all markets. 5. Global Blue generated €28bn Sales and €422M revenue in FY 2023/24.

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Why Bullish?

Strong growth in major markets can lead to increased investor confidence. Historical examples show similar patterns boosting stock prices after strong performance reports.

How important is it?

The article presents significant growth data that reflects overall market health. This information is crucial for assessing future company performance and investment potential.

Why Long Term?

Sustained growth trends in sales indicate improved financial health. Past instances of regional growth leading to overall company performance enhance long-term outlook.

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SIGNY, Switzerland--(BUSINESS WIRE)--A Sustained Performance in Continental Europe for International Shopping In Continental Europe, the issued Sales in Store increased by +19%1 in January 2025 vs. last year, closely in line with December growth (+20%1). This growth was led by a +24%1 increase in the number of shoppers and was slightly impacted by a softening of -4%1 in the average spend per shopper. When examining origin markets, US Tax Free Spend led the way at +34%1 vs. last year, followed by European Non-Eu shoppers at +31%1, GCC shoppers at +30%1, and Mainland Chinese shopper Tax Free Spend at +1%1. Regarding destination markets, January showed a solid performance in Spain at +28%1, Italy at +22%1 and France at +15%1. An Accelerated Tax Free Spend Performance in Asia Pacific In Asia Pacific, the issued Sales in Store growth reached +46%1 in January 2025, an acceleration in comparison to December 2024 (+29%1), led by a +36%1 increase in the number of shoppers and +7%1 rise in the average spend per shopper. When examining origin markets, the positive momentum in issued Sales in Store growth continued across most nationalities. Mainland Chinese shopper Tax Free Spend led with a +87%1 increase, driven by a +113%1 rise in the number of shoppers. Hong Kong and Taiwan shopper Tax Free Spend experienced a rise of +22%1 vs. last year while North East Asia shopper Tax Free Spend softened by -2%1 vs. last year. Regarding destination markets, January showed a strong performance across destinations, with South Korea at +72%1, Japan at +56%1, and Singapore at +8%1. Worldwide Year-on-Year Growth Rate (2025 vs. 2024) Issued SIS L/L Year-on-Year Growth Destination market weight in Issued SIS 2024 January 2025 December 2024 CY Q4 2024 CY Q3 2024 CY Q2 2024 CY Q1 2024 France 16% +15% +19% +13% +2% +10% +11% Italy 16% +22% +24% +19% +16% +22% +29% Spain 11% +28% +22% +21% +24% +33% +32% Germany 5% +0% +14% +10% +5% +2% +6% Other countries 16% +21% +20% +17% +10% +21% +16% Total Continental Europe 64% +19% +20% +16% +11% +19% +19% Japan 26% +56% +32% +33% +57% +172% +137% Singapore 6% +8% +6% +10% -3% -1% +25% South Korea 3% +72% +64% +50% +42% +60% +110% Total Asia Pacific 35% +46% +29% +29% +40% +109% +97% Total Latin America 1% +53% +32% +33% +23% -2% +9% Total worldwide 100% +29% +23% +21% +19% +41% 40% Worldwide Recovery Rate (versus 2019) Issued SIS L/L recovery (in % of 2019) Destination market weight in Issued SIS 2019 January 2025 December 2024 CY Q4 2024 CY Q3 2024 CY Q2 2024 CY Q1 2024 France 16% 190% 173% 159% 144% 164% 165% Italy 17% 135% 147% 146% 146% 156% 123% Spain 10% 201% 180% 167% 161% 164% 151% Germany 9% 68% 86% 78% 75% 80% 65% Other countries 19% 149% 140% 132% 126% 132% 126% Total Continental Europe 71% 150% 147% 139% 133% 143% 128% Japan 14% 364% 307% 299% 290% 327% 232% Singapore 11% 99% 77% 83% 81% 92% 92% South Korea 3% 230% 174% 169% 162% 158% 125% Total Asia Pacific 28% 239% 196% 195% 186% 226% 166% Total Latin America 1% 139% 132% 125% 104% 101% 94% Total worldwide 100% 176% 163% 154% 145% 165% 140% APPENDIX GLOSSARY - European Non-EU countries include: Shoppers who can reach destination by land transportation or less than a two hour flight. Ex: Swiss, British, Ukraine etc. - Gulf Cooperation Council countries include: Kuwait, Qatar, Saudi Arabia, United Arab Emirates, Bahrain, Oman - North East Asia countries includes: Japan, South Korea - South East Asia countries includes: Indonesia, Thailand, Cambodia, Philippines, Vietnam, Malaysia, Singapore ABOUT GLOBAL BLUE Global Blue is the business partner for the shopping journey, providing technology and services to enhance the experience and drive performance. With over 40 years of expertise, today we connect thousands of retailers, acquirers, and hotels with nearly 80 million consumers across 53 countries, in three industries: Tax Free Shopping, Payments and Post-Purchase solutions. With over 2,000 employees, Global Blue generated €28bn Sales in Store and €422M revenue in FY 2023/24. Global Blue is listed on the New York Stock Exchange. For more information, please visit www.globalblue.com Global Blue Monthly Intelligence Briefing, January 2025, Source: Global Blue 1 Growth rate variation year-on-year (2025 vs. the same period in 2024)

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