The Travel Corporation (TTC) and our portfolio of 18 award-winning travel brands is committed to reaching net zero GHG emissions across the value chain by 2050 from a 2019 baseline year. Our net zero targets have been validated by the Science Based Targets initiative. This ambition is backed by our Climate Action Plan, which commits us to Measure, Reduce, Restore, and Evolve.

In order to reduce emissions to achieve our verified near-term, long-term, and net zero science-based targets, in 2022, we announced our industry-first Carbon Fund which will finance our transition to a low-carbon business. The fund is generated by brand contributions based on whether they are a low, medium or high emitter, and will be dedicated to investments selected for their ability to decarbonize our travel brands. We will publicly report on this fund in our annual Impact Report.

Our decarbonization plan is focused on four key areas of the business:

♦ Reducing fuel emissions from our Uniworld ships

♦ Securing zero emission vehicles for our Tour Brands

♦ Generating and utilizing renewable energy across all offices and facilities

♦ Reducing the footprint of our trips in collaboration with our supply chain and destinations

In 2025, TTC’s Carbon Fund continued to play an important role in financing emission reduction projects across the business. Our focus shifted toward strengthening the strategic foundations of our decarbonization efforts — refining our carbon reduction targets and developing new carbon reduction pathways that reflect a changing business and our projected growth.

While these investments reflect meaningful progress, we recognize that the greatest long-term impact of the Carbon Fund lies in supply chain decarbonization. With that in mind, we are preparing a re-launch of the fund with a sharper focus — aligning it more directly with the forthcoming sustainability strategies of our individual brands in 2026.

Looking ahead, we expect investment through the Carbon Fund to grow, with capital directed toward both proven decarbonization solutions and emerging opportunities that reflect the ambition of our next phase of climate action.

Projects previously funded by the Carbon Fund include:

HVO FUEL: CONTIKI & ATLAS REIZEN

RENEWABLE ENERGY CERTIFICATES (RECS): NORTH AMERICA OFFICES

SOLAR ENERGY PRODUCTION AUSTRALIA: BONDI, BOURKE RD.

We are expanding our solar generation capabilities at two offices in Australia:

♦ 60kW solar installation at 35 Grafton Street, Bondi Junction. This is expected to generate approximately 74,000kWh of electricity per year, which will be consumed on-site, reducing the property’s reliance on traditional energy sources.  The electricity generated will specifically power the Server Room.

♦ 100kW solar installation at 82-86 Bourke Road, Alexandria, which is estimated to generate approximately 120,000kWh of electricity per year.

When combined, these two projects will save TTC 153 tonnes of CO2e annually, contributing to our ambition of reducing our reliance on the grid and generating clean energy.

ENERGY-EFFICIENCY UPGRADES

Investments in energy-efficient upgrades across our offices and properties in 2024 include:

♦ Purchase of a new energy-efficient boiler at Uniworld’s Encino office: reducing fuel consumption by up to 15%

♦ Heating, insulation and window upgrades at Radical Travel’s Glasgow office: saving energy by an estimated 7-10%

♦ LED light installation at TTC Tour Brands’ Cypress office: saving energy by an estimated 63% or more

♦ Lighting upgrades at TTC Tour Brands’ and Lion World‘s Toronto office: saving energy by an estimated 8-10%