40 | CHART 25 AFFILIATION MATTERS Most of the respondents (93%) said they are affiliated with either a consortium, a host or a franchise. Only seven percent of responding advisors are unaffiliated. Advisor trade affiliation has not changed much over subsequent outlooks in 2022. IATAN & IATA remain the most popular among US and Canadian advisors, followed by national associations including ASTA and ACTA. In the last couple of years, many of the trade associations advocated on behalf of advisors and helped them receive financial benefits from their respective governments. Advisors say affiliations also help them access more knowledge, industry updates and higher commissions. Credibility and recognition are added advantages. TRADE ASSOCIATION AFFILIATION, U.S. ADVISORS TRADE ASSOCIATION AFFILIATION, CANADIAN ADVISORS IATAN CLIA ASTA 76% 55% 49% ACTA CLIA 90% 51% 44% IATA

CHART 26 | 41 AFFILIATION MATTERS As the industry recovers, there has been lateral movement and shift in affiliations as noted below. AGENCY/ADVISORS AFFILIATION – U.S. AGENCY/ADVISORS AFFILIATION – CANADA Travel Leaders Group Travel Leaders Group Ensemble Virtuoso TRAVELSAVERS Expedia Cruises The Travel Agent Next Door Travel Best Bets TravelOnly Trevello Travel Group/ TPI Canada The Affluent Traveler Collection Signature Travel Network Independent by Flight Centre Nexion OTN UNIGLOBE No affiliation Signature Travel Network Virtuoso Cruise Planners Nexion TRAVELSAVERS Ensemble Dream Vacations Outside Agents TPI - US NEST/NEST Plus The American Express Company AAA OTN MAST No affiliation 28% 21% 18% 17% 13% 11% 10% 7% 5% 4% 3% 2% 2% 2% 1% 1% 1% 18% 13% 7% 7% 6% 6% 4% 4% 3% 3% 3% 2% 2% 2% 1%