In a recent press release, Tripadvisor announced the formation of a Special Committee comprised of independent directors of the Board of Directors of Tripadvisor on February 12th, 2024.

The mandate of the Special Committee is to evaluate any proposals that may be brought forward for a potential transaction, and any alternatives thereto, with regard to Tripadvisor, including those that may arise in the future as a result of the recent Liberty TripAdvisor Holdings, Inc. disclosure of its intent to evaluate potential alternatives involving LTRP and Tripadvisor.

The Special Committee has retained Centerview Partners LLC as its financial advisor in connection with its evaluation.

There can be no assurance that any transaction will result from such evaluation, or, if so, the timing, terms and conditions of such transaction.

Any potential transaction would be subject to, among other things, the negotiation and execution of mutually acceptable definitive transaction documents and the approval of the Board, including the approval of the Special Committee.

Tripadvisor does not intend to disclose developments with respect to this matter unless and until such time as the Special Committee and the Board determines that such disclosure is appropriate or necessary, except as required by law or other regulatory requirements.

Tripadvisor cautions stockholders and others considering trading in its securities that the Special Committee has not made any decisions with respect to a potential transaction.

Nothing in this communication should be considered a solicitation to buy or an offer to sell shares of Tripadvisor's common stock. Stockholders of Tripadvisor need not take any action at this time.