Transaction Now Expected to Close in the First Quarter of 2025

American Express Global Business Travel, which is operated by Global Business Travel Group, Inc. (NYSE: GBTG) (“Amex GBT” or the “Company”), a leading software and services company for travel, expense and meetings & events, has today announced it now expects its proposed acquisition of CWT, a global business travel and meeting solutions provider, to close in the first quarter of 2025.

Amex GBT continues to work collaboratively with regulatory authorities including the U.K. Competition and Markets Authority (“CMA”) and the Antitrust Division of the U.S. Department of Justice in their review of the transaction. The CMA also confirmed today that it intends to continue its review of the transaction in a Phase 2 investigation.

Amex GBT will continue to work with the regulatory authorities to demonstrate how the acquisition of CWT will create synergies and provide greater capacity for investment and innovation. It will also create more choice for customers and more efficient distribution for suppliers while maintaining a highly competitive environment for business travel services.

Eric J. Bock, Amex GBT’s Chief Legal Officer and Global Head of M&A, said: “We believe that a comprehensive Phase 2 analysis will demonstrate that the proposed transaction would result in many customer and supplier benefits, and that the business travel industry would remain highly competitive. In fact, as we’ve seen existing travel management companies grow and new tech-led companies enter the industry in recent years, we believe competition will continue to intensify.”

About Amex GBT

Amex GBT is a leading software and services company for travel, expense, and meetings & events. We have built the most valuable marketplace in travel with the most comprehensive and competitive content. A choice of solutions brought to you through a strong combination of technology and people, delivering the best experiences, proven at scale. With travel professionals and business partners in more than 140 countries, our solutions deliver savings, flexibility, and service from a brand you can trust – Amex GBT.

Visit amexglobalbusinesstravel.com for more information about Amex GBT. Follow @amexgbt on X, LinkedIn and Instagram.

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