Christian Tour successfully closes Initial Public Offering raising 149 million lei to accelerate market consolidation through M&A, organic expansion and digital transformation

Christian "76 Tour S.A. ("Christian Tour” or the "Company”), one of the leading tourism operators in Romania, announces the successful closing of its initial public offering ("IPO” or the "Offering”), carried out between 21 and 28 May 2026. The Final Offer Price was set at 1.895 lei per share, implying an anticipated market capitalization of approximately 410 million lei. Expected free-float upon listing will be approximately 37.4% of the Company's share capital. The Offering raised a total of approximately 149 million lei, of which 121.8 million lei represent gross proceeds to the Company through the share capital increase component, supporting Christian Tour's next stage of growth focused on organic expansion, digital transformation and M&A opportunities.

Cristian Pandel, Founder and CEO of Christian Tour, stated: "The successful completion of this IPO marks a defining moment for Christian Tour and sends a strong signal about the direction in which both our company and the Romanian tourism market are heading. 30 years ago, I started Christian Tour with the ambition to build a company capable of setting new standards in Romanian tourism. Today, the confidence shown by both retail and institutional investors validates not only the business we have built, but also the scale of the opportunity that lies ahead. We believe that Romania's tourism market is entering a new phase of growth, professionalization and consolidation, and Christian Tour will play a leading role in shaping this transformation. We are no longer just a traditional tour-operator; we are building an integrated regional travel platform with strong digital capabilities, diversified distribution and the market position required to drive consolidation in an extremely fragmented market.”

The Offering generated strong investor demand, with the overall subscription level reaching 121% at the Final Offer Price of 1.895 lei per share. No shares were reallocated between the retail and institutional tranches during the allocation process. Moreover, due to the high level of interest from investors, the over-allotment option was exercised, allowing additional shares to be allocated within the transaction to support liquidity following the Company's listing on the Bucharest Stock Exchange. Therefore, a total of 80,692,629 shares were placed in the Offering, comprising 65,998,056 newly issued shares, 13,294,573 existing shares offered for sale by CPM Cambridge Holding S.R.L., the investment vehicle wholly owned by Cristian Pandel, founder of Christian Tour, as well as 1,400,000 existing shares allocated under the over-allotment option.

Retail investors who subscribed during the first three business days of the Offering, between 21 and 25 May 2026, benefit from a 5% discount to the Final Offer Price, resulting in a final purchase price of 1.80 lei per share. The allocation index for the retail tranche was approximately 0.67675 following the exercise of the over-allotment option.

The funds raised through the IPO will support Christian Tour's strategic development priorities focused on three key pillars: consolidation and M&A, digital transformation, and brand, distribution and operational efficiency. The Company intends to strengthen its regional presence and consolidate its position in the tourism market through selective acquisitions of complementary players, expansion into new travel segments and the integration of operational and technological capabilities.

"The capital raised through this IPO gives us the ability to move faster and think bigger. We will accelerate investments in technology, digital infrastructure, customer experience and operational scalability, while also pursuing strategic acquisitions that can increase our market share and expand our business further. At this moment, we are already in advanced discussions with several market players regarding potential acquisitions, and our objective is to build around Christian Tour the largest travel ecosystem ever created in Romania. Digitalization remains one of the central pillars of our development strategy. We are already working on the launch of an AI-enabled trip builder application with multiple integrations and real-time interactions, the first of its kind in Romania, through which users will be able to create and personalize their holidays independently, in a simple, intuitive and fully digital way. This project is designed primarily for the new generations of travelers, especially Generation Z, who consume travel differently, are permanently connected, and seek fast, flexible and highly customized experiences, directly from their phones,” added Cristian Pandel.

Christian Tour plans to continue investing in the development of its proprietary OTA platform, systems integration and automation, scalable digital infrastructure, cybersecurity and customer experience solutions. The Company also aims to further expand its omnichannel distribution capabilities, strengthen brand positioning and customer retention, optimize working capital and improve operational standardization and efficiency across the platform.

Following the successful completion of the Offering, Christian Tour will proceed with all procedural steps required for the admission to trading of its shares on the Regulated Market administered by the Bucharest Stock Exchange ("BVB”), including the registration of the share capital increase. Trading is expected to commence on or around 22 June 2026 under the ticker symbol TRIP.

Founded in 1997, Christian Tour has grown from an entrepreneurial travel agency into one of the most important integrated tourism platforms in Romania. The Company operates mainly in the outbound travel segment and offers charter holidays, tours, city breaks, themed travel experiences and group travel services to destinations across the world, while also promoting Romania as a destination for foreign tourists. Christian Tour distributes its products through a multichannel model combining its own agency network, partner channels and an expanding digital ecosystem, while continuing to accelerate investments in digital infrastructure and online booking capabilities.

In 2025, Christian Tour generated booking sales of approximately 983 million lei, up by approximately 14% compared with 2024 and by almost 41% compared with 2023. Revenue from contracts with customers, recognized under IFRS, reached 803 million lei in 2025, while EBITDA amounted to approximately 45.1 million lei and net profit reached approximately 31.9 million lei.

BT Capital Partners S.A. acted as Sole Intermediary for the transaction. PwC served as auditor, Filip & Company provided legal advisory services, while Cornerstone Communications acted as Investor Relations advisor to the transaction.