GBTG eliminates UP-C structure; all shares now Class A common stock

Global Business Travel Group, Inc.

Legacy stockholders (Amex, Juweel, Expedia) exchange all B Shares for Class A common stock.
Elimination of UP-C structure expected to improve index weighting and reduce administrative costs.
Transaction qualifies for non-recognition under Section 351; net tax impact not material.
No JerseyCo B Shares remain outstanding; Tax Distributions to legacy stockholders cease.
Company enters amendments to BCA and Shareholders Agreement to reflect new structure.

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