BRAVOFLY GROUP: GENERAL INFORMATION

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1 BRAVOFLY GROUP: GENERAL INFORMATION ABOUT US The Bravofly Group is the leader in Europe in the sectors of travel, tourism and leisure. The first site, Volagratis.it, was set up in May 2004 on the initiative of its two founding members and is now dedicated to the comparing and booking of flights offered by both low cost and traditional airlines. The sites of the Bravofly Group (founded in 2006) are available in 8 languages (soon to be 11) and allow the consumers to book flights, package holidays, hotels, car hire, cruises, ferries and restaurants at the most convenient price. Bravofly uses the latest technology to provide consumers with simple, customised and secure solutions. By integrating all the advanced features and functions into one system, the client can choose and book the trip they want combining Bravofly s extensive travel and leisure offers. The Bravofly Group's headquarters is in Chiasso, Switzerland. THE MISSION To be the leading site in Europe for information and booking for all leisure services. To offer consumers the possibility to choose and book their trips with the best price for their needs. To ensure ease of use, security and support, both while choosing and after the purchase, thanks to the use of innovative technologies. THE "BRAND VALUES" The Choice. Thanks to the Bravofly search engine, it is possible to choose flights from the best prices on the market, offers from the best tour operators, exclusive packages that combine flights and hotels, cruises, rental cars and ferries. It offers a complete, comprehensive choice for all types of travel, be it for leisure or business. The Support. Bravofly offers a complete, integrated service in 8 languages via telephone, web, and social networks. Even after their purchase, customers can contact Bravofly for any requirement regarding the choice made. The service is available 24 hours a day, 7 days a week in English and Italian whilst extensive opening hours are also offered in French, German, Spanish, Russian and Hungarian. The Technology. Bravofly has a very strong focus on new technologies and, thanks to its internal team and various partners, it can provide users with the most advanced features on the Internet.

2 THE SITES THE MAIN SITES Searching for flights, hotel bookings, car rental and package holidays Volagratis.it, Bravofly.com, Bravofly.co.uk, Bravofly.fr, Bravofly.de, Bravofly.ch Bravofly.es, Bravofly.at, Bravofly.hu, Bravoavia.ru, Tour operator and booking package holidays Viaggiare.it and Viaggiagratis.com Cruise bookings Crocierissime.it and Bravocroisieres.fr Social network for restaurant reservations and reviews 2spaghi.it Travel Club for luxury holidays Hotelyo.it Platform for travel agencies and corporate travel Volagratispro.com, Volagratis.biz Observatory for monitoring fuel prices Prezzibenzina.it THE NEW SITES Trips to amusement parks Parchigratis.it Comparing all the deals and discounts Vivigratis.com THE PRODUCTS AND SERVICES COMPARING AND BOOKING TRADITIONAL AND LOW COST FLIGHTS Searching for offers Bravofly offers a single, simple search and booking system for over 400 airlines (including both low cost and traditional carriers). On the home page, all you need to do is insert your departure airport, destination and the date in order to search for your flight and then the best price for your chosen period is displayed immediately. For a more targeted search, filters have been created which, when used together, make it possible to: Identify the maximum price you are willing to pay for a flight that suits your needs Choose the time of day you prefer to depart and return Choose the most convenient departure and arrival airports Select the airline Where possible, select the class of travel and even special territorial continuity tariffs For those with flexible dates, the table above the results of the search highlights the days on which the flights are most economical.

3 Combined Flights Bravofly is the only search engine that offers users flights where the outward and return journeys are operated by different airlines, combining both traditional and low cost. This is a distinctive feature of Bravofly that multiplies the travel options available to end users, The Find a Deal Tool Those in search of the cheapest flight who can be flexible will find the Find a Deal tool extremely useful. Bravofly has developed this to allow everyone to find the cheapest travel solution by processing over 18 million searches carried out every month on Bravofly sites. The best price is found by those who are most flexible in the choice of airports and dates. Alternatively it is possible to carry out a search by selecting the amount that you wish to spend in order to decide where and when you could fly. Special Offers Bravofly has a whole section dedicated to Special Offers for flights. In this section, currently only available on Volagratis.it, you can see all the best deals Bravofly makes available to its customers thanks to exclusive arrangements with the major airlines. VIAGGIARE.IT AND VIAGGIAGRATIS.COM PACKAGE HOLIDAYS Thanks to innovative technology, Viaggiare.it and Viaggiagratis.com make it possible to search and compare package holiday offers from many of the major tour operators. It is also possible to build customised and convenient flight and hotel solutions. A system has been introduced that allows users to select a flight from Volagratis.it and choose from over 250,000 hotels. The site offers other information, including tips and content generated by the user, thanks to the collaboration with Trip Advisor. BOOKING HOTELS, CAR HIRE AND CITY GUIDES On Bravofly sites, you can choose the hotel for your leisure or business trip from over 250,000 hotels worldwide offered by the leading hotel reservations providers on the Web. It is possible to select a hotel based on price, category and distance from the centre or other major points of interest in the city. Reviews from other users who have already stayed at these places and have expressed an opinion about the service offered are also available. Bravofly offers users the possibility to book a low cost rental car from major providers such as Sixt, Europcar, Avis and Hertz with discounts of up to 15% and other services such as a free customer assistance telephone number and no booking fee. It is also possible to download tourist guides for the destination with all the best travel advice. CROCIERISSIME.IT: SEARCH ENGINE FOR CRUISES Crocierissime.it is the first site in Italy that compares cruises offered by the largest Italian and foreign cruise companies: Msc Crociere, Costa Crociere, Norwegian Cruise Line, Royal Caribbean and others, in order to offer a complete overview of the world of cruises, both across oceans and along rivers. Also, with regard to the world of cruises, the Bravofly Group has demonstrated great technological advancements, being the only site able to connect with the websites of the cruise companies mentioned above allowing the customer to see in almost real-time updates of the availability and prices of the cruises. Crocierissime.it is also present in the French market with Bravocroisieres.fr.

4 2SPAGHI.IT: SOCIAL NETWORK FOR RESTAURANT REVIEWS 2spaghi.it is a social network where users share their favourite restaurants by voting for them, adding reviews and comments and also offering the opportunity to book also saw the publication of the Spagoguida, the first restaurant guide originating from the Web, with comments and reviews from 2spaghi.it users. With the 2spaghi.it application for the iphone and Android it is possible to search for restaurants in the surrounding area and review them in real time. HOTELYO.IT, THE TRAVEL CLUB FOR LUXURY HOLIDAYS Hotelyo.it is a travel club that offers its members a selection of hotels and holidays in the most luxurious locations all over the world. Twice-weekly the site advertises a hugely discounted offer (available for a limited period of time) for 4 and 5 star hotels, agriturismos, resorts and other ideas for unique and sought after holidays. VOLAGRATISPRO.IT E VOLAGRATIS.BIZ Designed for travel agencies, Volagratis PRO offers a free unique and professional system to operators within its sector, which allows them to obtain commission on flights, hotels and package holidays as well as many other useful features. Volagratis BIZ offers a system that responds to the needs of any agencies who would like to reduce the costs of business travel whilst at the same time maintaining a high standard of quality and professionalism. PREZZIBENZINA.IT: THE OBSERVATORY OF FUEL PRICES Prezzibenzina.it is an online platform monitoring fuel prices at individual petrol stations thanks to the constant updates by the users themselves. Through the site and the free application for the iphone and Android, the user can locate the cheapest petrol station in their vicinity and upload the fuel prices to the website in order to keep the platform as updated as possible. PARCHIGRATIS.IT: THE BEST AMUSEMENT PARKS IN ITALY Parchigratis.it is a site dedicated to fun. On the site it is possible to organise a trip in one of the best amusement parks in Italy, combining the entrance ticket with the booking of a hotel. The innovative system allows the user to combine the best solutions of park + hotel at the most convenient price. VIVIGRATIS.COM: THE SITE WITH THE BEST OFFERS Piudeal.it is the site that compiles all the deals and offers of purchasing groups and other commercial operators, presenting them in a uniform manner all on one site. Users can customise the homepage and newsletter according to their personal preferences and tastes. This way they can keep an eye on the best offers from a specified city without having to check through the numerous offers published every day. BOOKING BY MOBILE WITH THE APPLICATIONS FOR THE IPHONE, IPAD NOKIA AND ANDROID Since June 2010 Bravofly has also offered the ability to search, compare and book flights to mobile users. In the itunes App Store you can download the Bravofly applications for the iphone and ipad, which in a short space of time allow you to search, use filters, choose your preferred flight, look at all the details and complete the booking in a simple and secure way. At the moment the app can be downloaded from the App Store of Apple in Italian (search for Volagratis ), English, French and Russian (search for Bravofly or Bravoavia ). But that s not all: Bravofly has also thought of those who own a Nokia phone or an Android smartphone. Available in the Ovi Store is an application for Nokia where the features of Volagratis are available on the move.

5 Whilst those who own an Android smartphone can download the Volagratis app from the Play Store and book a flight on the move. February 2012 saw the release of the new applications, Volagratis Plus and Bravofly Flights Plus, exclusively for the iphone, ipad and ipod. This latest app comes more complete with more functions and it is possible to search and book flights, follow the progress of your flight and receive a 20 voucher upon download. In the summer of 2011, thanks to collaboration with Google, Bravofly launched the application Volagratis Pilot. Available free from the Chrome Web Store, Volagratis Pilot is a game that allows participants to put themselves in the shoes of a pilot. This application is good, fun and easy to use, and is another demonstration of the efforts of Bravofly in always wanting to keep up with the times. SOCIAL NETWORK OF BRAVOFLY Bravofly talks openly with all its users, even through some of the most diverse social networks. The Facebook Volagratis page is growing rapidly into an enormous success. With more than 400,000 likes, the fan page is a place to meet clients, for those with a passion for travel to discuss their experiences and to discover the latest news from Bravofly Group. Recently other features have been introduced that allow fans of Volagratis to book their own flight, hotel or package holiday directly through Facebook. Facebook fan pages have also been opened for Bravofly.fr, Bravoavia.ru and Bravofly.com. Bravofly can also be found on other major social networking sites such as Google+, Twitter, Pinterest, Flickr, LinkedIn and Foursquare. VOLAGRATIS FLIGHT OBSERVATORY The Volagratis Flight Observatory ( L Osservatorio Volagratis ) conducts research into the whole flight, holiday and cruise sectors, analysing the phenomenon of choosing and purchasing flights, both in its quantitative dimensions and in the interpretation of the scenarios and trends of this new way of travelling, in constant evolution. The Observatory makes use of a large amount of data extracted from 26 million searches made each month by Bravofly site users, and was set up in 2004 as a result of the need to provide users and the media with accurate, detailed information, as well as an overview of the low-cost phenomenon. Articles from the Observatory can be found at the following address: MILESTONES 2004 Foundation of Volagratis.it with capital of 50,000, two founders and one employee Sale of first flight 2005 Introduction of traditional flights (CRS) First internal customer service with four people 2006 Foundation of Bravofly Group and translated into four languages for the European market 2007 Introduction of the search engine for hotels Completion of the internationalisation process and new headquarters in Switzerland 2008 Introduction of the Find a Deal and Search by Price features Start of the sale of car rental services

6 2009 Start of the sale of package holidays of the best tour operators Launch of the sale of the combinations of flights from different airlines 2010 Start of the sale of cruises in conjunction with Crocierissime.it Launch of the first App for iphone and ipad Acquisition of an interest by AXA Private Equity and other financial investors Launch of the sale of Dynamic Packages ( Pacchetti Dinamici ) Introduction of the Fly Box onto the Italian market 2011 Crocierissime.it and 2spaghi.it become part of the Bravofly group Entrance into Russian market with Bravoavia.ru Launch of application Volagratis for Nokia and Android Viaggiagratis.com becomes the reference site for holidays 2012 Hotelyo.com, Prezzibenzina.it, Parchigratis.it and Vivigratis.com become part of the Bravofly Group THE NUMBERS Bravofly sites are growing rapidly in Europe with a strong position in Italy and France and emerging positions in the United Kingdom, Germany, Austria, Northern Europe and Russia. Each month, the group sites as a whole generate: Over 12,000,000 unique visitors 75,000,000 page views Over 26,000,000 flight searches And there are: Over 4,000,000 registered users and subscribers to the Weekly Newsletter More than 1,000,000 downloads of our applications Over 400,000 fans on Facebook CONTACTS PRESS OFFICE Andrew Buswell andrew.buswell@bravofly.com Mobile: (0044) Last updated September 2012