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3Q19 EarningsConference Call

NOVEMBER 07, 2019

This presentation includes forward-looking statements. We have based these forward-looking statements largely on our current beliefs, expectations andprojections about future events and financial trends affecting our business and our market. Many important factors could cause our actual results to differsubstantially from those anticipated in our forward-looking statements, including: political, social and macroeconomic conditions in Latin America; currencyexchange rates and inflation; current competition and the emergence of new market participants in our industry; government regulation; our expectations regardingthe continued growth of internet usage and e-commerce in Latin America; failure to maintain and enhance our brand recognition; our ability to maintain and expandour supplier relationships; our reliance on technology; the growth in the usage of mobile devices and our ability to successfully monetize this usage; our ability toattract, train and retain executives and other qualified employees; and our ability to successfully implement our growth strategies. We operate in a competitive andrapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could havean impact on the forward-looking statements contained in this presentation. The words “believe,” “may,” “should,” “aim,” “estimate,” “continue,” “anticipate,”“intend,” “will,” “expect” and similar words are intended to identify forward-looking statements. Forward-looking statements include information concerning ourpossible or assumed future results of operations, business strategies, capital expenditures, financing plans, competitive position, industry environment, potentialgrowth opportunities, the effects of future regulation and the effects of competition. Forward-looking statements speak only as of the date they are made, and weundertake no obligation to update publicly or to revise any forward-looking statements after the date of this presentation because of new information, future eventsor other factors, except as required by law. In light of the risks and uncertainties described above, the future events and circumstances discussed in thispresentation might not occur or come into existence and forward-looking statements are thus not guarantees of future performance. Considering these limitations,you should not make any investment decision in reliance on forward-looking statements contained in this presentation.

This presentation includes industry, market and competitive position data and forecasts that we have derived from independent consultant reports, publiclyavailable information, industry publications, official government information, other third-party sources and our internal data and estimates. Independent consultantreports, industry publications and other published sources generally indicate that the information contained therein was obtained from sources believed to bereliable. The inclusion of market estimations in this presentation is based upon information obtained from third-party sources and our understanding of industryconditions. Although we believe that this information is reliable, the information has not been independently verified by us. Trademarks and service marks appearingin this presentation are the property of their respective holders. This presentation includes data from Euromonitor. Information sourced to Euromonitor is fromindependent market research carried out by Euromonitor International Limited as part of its annual Passport research. Euromonitor makes no warranties about thefitness of this intelligence for investment decisions.

This presentation is strictly confidential, is for informational purposes only and may not be relied upon in connection with the purchase or sale of any security. Youmay not disclose any of the information contained herein to any other parties without the company’s prior express written permission. This presentation is madepursuant to Section 5(d) of the Securities Act of 1933, as amended, and is intended solely for investors that are either qualified institutional buyers or institutionsthat are accredited investors (as such terms are defined under Securities and Exchange Commission (“SEC”) rules) solely for the purpose of determining whethersuch investors might have an interest in a securities offering contemplated by Despegar.com, Corp. Any such offering of securities will only be made by means of aregistration statement (including a prospectus) filed with the SEC, after such registration statement is declared effective. No such registration statement has beendeclared effective as of the date of this presentation. This presentation shall not constitute an offer to sell or the solicitation of an offer to buy these securities, norshall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualificationunder the securities laws of any such state or jurisdiction. 2

Disclaimer

Strong growth in Gross Bookings, Revenue and Profitability

Performing well and gaining share in the region despite industry contraction in Argentina

Making progress on strategic initiatives deepening the value proposition

Positive cashflow generation

Share buyback reflects confidence in long term business potential

3Q19 - Strong Quarterly Results, Outperforming the Industry

Advancing on Long-Term Strategy Despite Current Challenging Macro Environment

(1) Measured in number of passenger air tickets sold by Despegar over total industry. Source: Company estimates based on GDS and OAG information.

NPS+150 bps

Transactions +5%; +7% Ex-Argentina

Non-Air Mix + 288bps to 61% of Revenues

Top 100 Latam Hotelsof LatAm Hotel GB flat at 22%

Share of Mobile Transactions+418 bps to 39% of Total

Estimated Air Market Share (1)

+30 bps

Gross Bookings+26% FX Neutral

(+8% as reported)

ASPs

+21% FX Neutral(+3% as reported)

Room Nights+5%

(Ex-Argentina +10%)

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INCREASE REPEAT PURCHASE RATE

ATTRACT NEW CUSTOMERS

CONTINUE TO GROW HIGH MARGIN NON-AIR BUSINESS

INCREASE & OPTIMIZE INVENTORY

DRIVE SHARE GAINS IN CHALLENGING MACRO

BROADEN PLATFORM & MARKET SHARE GAIN

IMPROVE CUSTOMER EXPERIENCE

INCREASE CONSUMER ENGAGEMENT & SATISFACTION

EXPAND REACH IN THE REGION

ENHANCE PRODUCT OFFERING & CROSS-SELL

DEEPEN RELATIONSHIPS WITH SUPPLIERS

FURTHER INVESTMENT IN MOBILE PRODUCTS

REINVEST OPERATING LEVERAGE IN CUSTOMER ACQUISITION

PURSUE STRATEGIC ACQUISITIONS

FX Neutral Gross Bookings +26% (+8% As Reported) Drives Further Share Gains in a Contracting Market

Total Transactions by Segment

In millions

Transactions +5% YoY with As Reported Gross Bookings +14% excluding Argentina

Focus on cross-selling drove 26% YoY increase in stand-alone package transactions, fastest growing product

ASPs of $433 per transaction, up 21% YoY on an FX neutral basis, and 3% YoY as reported

Gained +30 bps in market share YoY, in a high single digit contracting Latin American travel industry

Gross BookingsIn US$ Bn

5

1.5 1.64.4 4.61.1 1.1

3.3 3.3

2.6 2.7

7.7 7.8

-0.5

0.8

2.0

3.3

4.5

5.8

7.0

8.3

9.5

10.8

12.0

3Q18 3Q19 9M18 9M19

+1%

+5%

+5%+4%

-2%

1.1 1.2

3.5 3.5

3Q18 3Q19 9M18 9M19

+8%

-2%+26% FX Neutral +22% FX Neutral

+5%

Note: 3Q19 results include three months Viaje Falabella’s transactions in Argentina, Chile and Peru; and two months in Colombia.

Packs, Hotel & OTPs Air

Launched First Phase of Loyalty Program in Brazil

Enhancing our value proposition while further driving cross selling and boosting customer life-time value

Despegar: Partner of Choice in the Latin American Travel Market

Jul 31 ’19: acquisition of 100% of Viajes Falabella and Long-Term Strategic Alliance with Falabella Financiero

Oct 24 ’19: API Connectivity Agreement with Ctrip allows for the integration of Despegar’s direct accommodation offering in Latin America with Ctrip’s platform

Oct 29 ’19: 10-year Exclusive Co-Branded Credit Card Agreement with ICBC in Argentina in partnership with Mastercard

New Tech Developments

Pre-Travel: Upgraded call center with automation services which assist customers with accurate and timely response.

Destination: Launched “Bundles” which allows us to direct demand towards to preferred suppliers, delivering both best commercial agreements and, stronger customer reviews

Investments in Business Development

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7

Gross Bookings (% growth) (1)

3%

-4%

12%

5%

Transactions (% growth) (1)

16% 11%

52%

-8%

8%1%

21%

3%

Average Selling Price (% growth) (1)

Brazil: transactions +3%, recovering from a 14% drop in 2Q19 on lower exposure to Avianca Brasil. Gross bookings+19% (+15% as reported) while FX neutral ASPs +16% (+11% as reported). Higher ASPs reflect: i) 21% growth in packagetransactions; ii) higher domestic air fares; and iii) continued mix-shift from domestic to international travel.

Argentina: remains impacted by adverse macro (53% inflation and 36% FX depreciation) leading to a 4% decline in transactions, mostly explained by lower international travel. On an FX neutral basis, gross bookings +47% YoY and ASPs +52%, while as reported gross bookings and ASPs decreased YoY by 11% and 8%, respectively.

Rest of Latam: strong transaction growth.

(1) Note: figures reflect YoY increases in 3Q19

Brazil Argentina Other

19% 15%

47%

-11%

21%13%

26%

8%

Total Brazil Argentina Other Total Brazil Argentina Other Total

As ReportedFx Neutral As ReportedFx Neutral

Transactions, Gross Bookings and ASP Growth Rates, Rebound

65.2 71.1 70.1 70.8

3Q18 3Q19 9M18 9M19

42% 39% 41% 39%

58% 61% 59% 61%

0

0.25

0.5

0.75

1

1.25

3Q18 3Q19 9M18 9M19

FX Neutral Revenues +19% (As Reported 9%) With Solid Growth in Packages, Hotels & Other Travel Products

Total Revenue*

In US$ mllions

121.2 132.0

398.1 379.2

3Q18 3Q19 9M18 9M19

Revenue Mix

% of total revenue

Revenue margin up 11 bps YoY to 11.2% YoY reflecting: i) growth in higher-margin standalone packages; and ii) the positive impact from Viajes Falabella. This more than offsets reductions in customer fees and discounts in package transactions to support market share growth and ii) lower air supplier volume bonuses.

Packages, Hotels, and Other Travel Products contributed with a 14% YoY revenue increase while Air revenues rose 1% in the period.

Revenue per Transaction

In US$

33.4 32.3 37.5 32.5

3Q18 2Q19 9M18 9M19 8

- 3%

+19% FX Neutral 15% FX Neutral + 1%

Packs, Hotel & OTPs Air

Packs, Hotel & OTPs Air

Gross Profit & MarginIn US$ millions and % of revenues

84.6 89.5

275.7 251.1

3Q18 3Q19 9M18 9M19

69.8%

Implementing Strategic Initiatives while Balancing Near-Term Growth & Profitability As reported gross profit up 6% YoY (+9% FX Neutral). Cost of revenue up 16% YoY driven by: i) increased installment plan costs in Argentina; and ii) higher credit card merchant

fee expense. Partially offset by a decline in fulfillment costs due to efficiency gains. S&M expenses +12% YoY, primarily due to acquisition of Viajes Falabella and associated costs of operating stores within

stores and telesales operations; partially offset by efficiencies gained in Direct Marketing.

Selling & Marketing (S&M) Expenses In US$ millions, % of revenues and US$ per transaction

Gross Margin

% of Revenues (1)

9

67.7% 69.3% 66.2%

41.6 46.7

131.4 138.3

3Q18 3Q19 9M18 9M19

34.3% 33.0% 36.3%

FX Neutral 3Q19 Gross Profit of $92 million, 9% YoY

Per Transaction (1)

$16.0 $17.0 $17.2

35.0%

$16.0

+6%

-9%

+12%

+5%

(1) Excluding Viajes Falabella

Adjusted EBITDA and margin (%)

In US$ millions and % of revenues

10

.

AdjustedEBITDA Margin

12.0% 12.6% 13.5% 4.6% 7.3%

Adjusted EBITDA Driven by Successful New Business Initiatives in Adverse Macro Environment Reported Adjusted EBITDA of $9.4 M compared to $14.5 M in 3Q18, but up from negative $7.3 M in 2Q19, impacted by

one-time costs associated with the rebranding campaign, and to a lesser extent to the suspension of operations of Avianca Brasil along with weak macro in Argentina.

Comparable Adj. EBITDA margin contracted 551 bps YoY to 7.1% from 12.6% reflecting: i) challenging macro in Argentina and to a lesser extent in Brazil resulting in higher YoY price discounts in packages to drive growth, and lower fees from lodging and car rental transactions; ii) higher installment expenses and credit card processing fees; and iii) higher G&A costs.

14.5 15.3 9.4

53.8

17.327.5

3Q18 3Q18 - Comp 3Q19 9M18 9M19 9M19 - Comp

- 68%

- 49%

7.1%

- 39%

- 35%

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.

Solid Cash Flow Generation and Robust Balance Sheet Supports Shareholder Enhancing Initiatives

Operating Cash Flow 3Q19 Operating Cash Flow Bridge (in US$ millions)

In US$ millionsIn US$ millions

-24.2 -43.3

61.2

-17.6 -26.7

25.6

2015 2016 2017 2018 3Q18 3Q19

Cash flow generation of $25.6 M, mainly driven by: i) a lower credit card receivables balance from shorter collections in Brazil, Chile and Ecuador; ii) higher Tourist Payables from higher sales; and ii) lower advances to suppliers.

Cash and cash equivalents, including restricted cash of $300.1 M.

Repurchased $39.3 million repurchased in 3Q19 and $42.2 million in shares in year-to-date.

OPERATING NETCASH FLOW

Looking Ahead:

Following a strong Q3, we reiterate our bullishness on the long-termpotential of Latin America and the Online Travel Industry

Q3 showed encouraging signs of recovery, despite a tough startimpacted by currency devaluation in July/ August

Volatile environment drove some advance purchases ahead of peak Q4

Despegar was able to tactically achieve higher profitability in the quarter, posting margin expansion and attractive YoY growth

Potential for short-term margin challenges as we adjust our operating structure to integrate Viajes Falabella and macro recovery strengthens

Efficiency opportunities exist given attractive business model with high operating leverage

One-time investments / charges expected in Q4, as we further push our initiatives and capture efficiencies Loyalty program deferred revenue

Investments to capture cost improvements as initiatives get implemented

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Q&A

Appendix

Trends in Key Financial & Operating Metrics (in thousands U.S. dollars, unless otherwise stated)

15

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19

FINANCIAL RESULTS

Revenue $124,999 $123,462 $131,468 $144,011 $148,593 $128,259 $121,247 $132,515 $133,114 $114,087 $132,048

Revenue Recognition Adjustment ($3,321) ($59) $1,310 $7,578

Cost of revenue 31,140 35,087 37,869 38,383 43,646 42,088 36,673 49,703 45,245 40,342 42,591

Gross profit 90,538 88,316 94,909 113,206 104,947 86,171 84,574 82,812 87,869 73,745 89,457

Operating expenses Selling and marketing 35,546 43,289 41,097 46,356 46,410 43,450 41,572 42,925 40,933 50,701 46,656

General and administrative 18,869 18,618 15,318 19,821 15,888 16,986 17,130 17,599 20,638 21,254 25,090

Technology and product development 15,408 17,644 18,907 19,349 19,225 18,732 16,821 16,376 18,713 18,077 17,922

Total operating expenses 69,823 79,551 75,322 85,526 81,523 79,168 75,523 76,900 80,284 90,032 89,668

Operating income 20,715 8,765 19,587 27,680 23,424 7,003 9,051 5,912 7,585 (16,287) (211)

Net financial income (expense) (6,156) (1,611) (2,880) (6,232) (2,831) (5,292) (11,026) (18) (5,220) (1,663) (3,627)

Net income before income taxes 14,559 7,154 16,707 21,448 20,593 1,711 (1,975) 5,894 2,365 (17,950) (3,838)

Adj. Net Income tax expense 2,418 4,254 4,373 2,617 4,235 471 (501) 2,864 479 (1,483) (154)

Income tax expense 2,486 3,806 4,190 1,512 4,235 471 (501) 2,864 479 (1,483) (154)

Adjustment $68 ($448) ($183) ($1,105)

Net income /(loss) 12,141 2,900 12,334 18,831 16,358 1,240 (1,474) 3,030 1,886 (16,467) (3,684)

Adjusted EBITDA $24,751 $13,096 $24,337 $32,678 $27,284 $11,972 $14,520 $13,868 $15,182 ($7,323) $9,410

Net income/ (loss) $12,141 $2,900 $12,334 $18,831 $16,358 $1,240 ($1,474) $3,030 $1,886 ($16,467) ($3,684)Add (deduct): Financial expense, net 6,156 1,611 2,880 6,232 2,831 5,292 11,026 18 5,220 1,663 3,627 Income tax expense 2,418 4,254 4,373 2,617 4,235 471 (501) 2,864 479 (1,483) (154) Depreciation expense 1,343 1,362 1,337 1,033 859 1,475 1,338 1,676 845 2,683 2,036 Amortization of intangible assets 1,517 2,039 2,454 2,741 2,018 2,228 2,738 3,156 3,753 3,089 4,195 Share-based compensation expense 1,176 930 959 1,224 983 1,266 1,393 3,124 2,999 3,192 3,390

Pro Forma

Trends in Key Financial & Operating Metrics(in thousands U.S. dollars and thousand transactions, unless otherwise stated)

16

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19

KEY METRICS

Operational

Gross bookings $1,019,102 $1,061,026 $1,116,022 $1,258,398 $1,231,496 $1,184,355 $1,092,287 $1,207,186 $1,157,512 $1,118,134 $1,177,728

- YoY growth 54% 40% 32% 26% 21% 12% (2%) (4%) (6%) (6%) 8%

Number of transactions 2,129 2,210 2,298 2,419 2,514 2,607 2,596 2,676 2,652 2,448 2,723 - YoY growth 30% 30% 25% 19% 18% 18% 13% 11% 5% (6%) 5%

Air 1,246 1,325 1,328 1,386 1,362 1,513 1,512 1,557 1,517 1,459 1,586 - YoY growth 34% 31% 22% 13% 9% 14% 14% 12% 11% (4%) 5%

Packages, Hotels & Other Travel Products 883 885 970 1,033 1,152 1,094 1,085 1,119 1,135 989 1,137 - YoY growth 25% 27% 29% 27% 30% 24% 12% 8% (1%) (10%) 5%

Revenue per transaction $57.2 $55.8 $57.8 $62.7 $59.1 $49.2 $46.7 $49.5 $50.2 $46.6 $48.5 - YoY growth 3% (12%) (18%) (21%) (15%) (5%) 4%

Air $45.6 $45.2 $44.3 $47.7 $44.7 $35.1 $33.4 $32.3 $32.8 $32.5 $32.3

- YoY growth (2%) (22%) (25%) (32%) (27%) (8%) (3%)

Packages, Hotels & Other Travel Products $73.5 $71.8 $76.2 $82.7 $76.2 $68.6 $65.2 $73.5 $73.5 $67.5 $71.1

- YoY growth 4% (4%) (14%) (11%) (4%) (2%) 9%

ASPs $479 $480 $486 $520 $490 $454 $421 $451 $436 $457 $433

- YoY growth 18% 8% 6% 6% 2% (5%) (13%) (13%) (11%) 1% 3%

Pro Forma

Unaudited Consolidated Balance Sheets (in thousands U.S. dollars)

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As of September 30, 2019 As of June 30, 2019

ASSETS

Current assets

Cash and cash equivalents $295,671 $317,522

Restricted cash and cash equivalents $4,438 $4,711

Accounts receivable, net of allowances $198,822 $239,705

Related party receivable 11,499 7,396

Other current assets and prepaid expenses 70,298 60,065

Total current assets 580,728 629,399

Non-current assets

Other Assets 15,976 17,241

Restricted cash and cash equivalents – –

Right of use 8,540 8,589

Property and equipment net 20,842 21,102

Intangible assets, net 49,332 45,832

Goodwill 50,535 49,319

Total non-current assets 145,225 142,083

TOTAL ASSETS 725,953 771,482

As of September 30, 2019 As of June 30, 2019

LIABILITIES AND SHAREHOLDERS’ DEFICIT

Current liabilities

Accounts payable and accrued expenses 51,219 49,253

Travel suppliers payable 186,481 186,645

Related party payable 76,875 79,664

Loans and other financial liabilities 17,998 18,839

Deferred Revenue 8,872 8,941

Other liabilities 52,774 49,871

Contingent liabilities 4,696 5,616

Lease liabilities 3,377 3,455

Total current liabilities 402,292 402,284

Non-current liabilities

Other liabilities 225 451

Contingent liabilities 102 1,807

Lease liabilities 4,663 4,368

Related party liability 125,000 125,000

Total non-current liabilities 129,990 131,626

TOTAL LIABILITIES 532,282 533,910

SHAREHOLDERS’ EQUITY (DEFICIT)

Common stock 259,816 259,741

Additional paid-in capital 326,646 323,331

Other reserves (728) (728)

Accumulated other comprehensive income 69 4,378

Accumulated losses (323,865) (320,182)

Treasury Stock (68,267) (28,968)

Total Shareholders' Equity Attributable / (Deficit) to Despegar.com Corp 193,671 237,572

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 725,953 771,482

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INVESTOR RELATIONS CONTACT

Natalia NirenbergInvestor RelationsPhone: (+54911) 2668 4490E-mail: Natalia.nirenberg@despegar.com