Datalex Plc — Earnings Release 2020

Mar 9, 2021

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. With the publication of this announcement, this information is now considered to be in the public domain.

DATALEX PLC 2020 Guidance Update

Dublin, Ireland – 9 March 2021: Datalex plc (the "Company" or the "Group") (Euronext Dublin: DLE), a market leader in digital commerce for travel retail, today provides an update to its previously issued guidance for 2020 due to the restructuring of certain of our airline customers.

The HNA Group, a multi-industry enterprise covering air transportation, airport management, hotels, logistics, real estate, retail, tourism and other related industries, continues its restructuring process in China. This restructuring impacts certain HNA Group subsidiaries, which include a number of airline customers of Datalex. These subsidiaries continue to trade whilst the restructuring is ongoing and are expected to successfully emerge from the restructuring. As they are continuing to trade, they still require the critical services that Datalex provides and continue to make payments to us. At this time, the Company anticipates that it will continue to be paid for its services throughout the restructuring period and we continue to engage with the restructuring process on this basis.

However, as a result of criteria within accounting standard IFRS15 relating to the timing of revenue recognition due to customers' credit rating, and despite continuing payments, this development impacts the Group's ability to recognise revenue from these customers in 2020. This means that payments related to services provided in 2020, but received in 2021, will be recognised as revenue in 2021 rather than 2020, assuming the restructuring completes as expected.

As a result, we now expect to report adjusted EBITDA on a constant currency basis of \$3 million to \$3.5 million during 2020, compared to previous Company guidance of adjusted EBITDA of \$3.75 million to \$4.5 million.

We continue to actively engage with our customers and advisers in China regarding this matter and expect to be in a position to provide further information in our 2020 Annual Report, which is being finalised and will be published next month. We continue to believe that Datalex is well positioned to benefit from the emerging recovery in travel with products tailored to meet the post COVID needs of all airlines and which will accelerate their return to growth, including our airline customers in China.

The financial information in this announcement is not audited and does not constitute statutory financial statements of Datalex plc. The statutory financial statements for FY 2020 will be prepared in accordance with International Financial Reporting Standard 15 "Revenue from contracts with customers" (IFRS 15) which came into effect on 1 January 2018. The guidance outlined above for FY 2020 is in accordance with IFRS 15.

IRSF15 recognition rules specify that timing of revenue recognition may be affected by factors outside our control, for example, including the credit rating of our customers. This may impact on the timing of recognition of forecast revenues and costs, as included in this guidance statement.

Adjusted EBITDA is defined as earnings from operations before (i) interest income and interest expense, (ii) tax expense, (iii) depreciation and amortisation expense, (iv) share-based payments cost and (v) exceptional items.

This announcement contains inside information.

This announcement contains certain forward-looking statements. Actual results may differ materially from those projected or implied in such forward-looking statements. Such forward-looking information involves risks and uncertainties that could significantly affect expected results. Those forward-looking and other statements speak only as at the date of this announcement. Datalex undertakes no obligation to update any forward-looking statements. No statement in this document, except for the statement of expected adjusted EBITDA, is intended as a profitforecast or a profit estimate and no statement in this document (including the statement as to expected adjusted EBITDA) should be interpreted to mean that earnings per share for the current or future financial years would necessarily match or exceed the historical published earnings per share. The statement of expected adjusted EBITDA has been prepared based on assumptions and forecasts, including those set out in this announcement, some of which are outside of the Company's influence and/or control, and is therefore inherently uncertain and there can be no guarantee or assurance that it will be correct. The statement of expected adjusted EBITDA has not been audited, reviewed, verified or subject to any procedures by our auditors and you should not place undue reliance on it and there can be no guarantee or assurance that it will be correct.

Statements contained in this announcement are based on the knowledge and information available to the Board at the date it was prepared and therefore facts stated, and views expressed may change after that date. Nothing in this announcement is intended to constitute an invitation or inducement to engage in investment activity. This announcement does not constitute or form part of any offer for sale or subscription of, or any solicitation of any offer to purchase or subscribe for, any securities nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract, commitment or investment decision in relation thereto. This announcement does not constitute a recommendation regarding any securities.

About Datalex

Datalex is a market leader in transformative airline retail products and solutions. The Datalex Digital Commerce Platform provides airlines with a unique solution to drive revenue and profit as digital retailers. Today the platform enables a travel marketplace of over one billion shoppers covering every corner of the globe, driven by some of the world's most innovative airline retail brands. Datalex's customers include Air China, JetBlue Airways, Hainan Group, SAS, Philippine Airlines, Aer Lingus, Brussels Airlines, Air Transat and Trailfinders. The Group is headquartered in Dublin, Ireland, and maintains offices across Europe, the USA and China. Datalex plc is a publicly listed company on Euronext Dublin (DLE).

Learn more at www.datalex.com or follow on twitter @Datalex.

Media Enquiries

Michael Moriarty FleishmanHillard +353 87 243 2550 michael.moriarty@fleishmaneurope.com

Investor Enquiries

Sean Corkery Datalex plc +353 1 806 3500 sean.corkery@datalex.com