Team,

With 2023 coming to an end, it's a great time to remember this unforgettable year.

Together, we reach new heights with our Unique and Authentic Tours, Activities and Experiences that we provide to our guests.

People love Living's services, which means they love the work you do.

This was another very positive year at the Living Tours Group. It was a year of strengthening our image and positioning, which convey a comprehensive, dynamic, global, and innovative vision of our organization.

It was a year of investment in a digital transformation agenda, which allows us to be at the forefront of automation solutions and which will continue and be reinforced in the coming years. It was a year of investing in our people.

The recognition of our talents and the merit of our professionals, through mobility and growth programs, the creation of a wide range of benefits, the reinforcement of investment in training and specialization, or internal initiatives and events, are some examples of our commitment to all of you.

I am incredibly proud of the work you are doing to make the Living Tours Group a force for good for our society and our planet, both through our services and by making a difference on issues that affect thousands of lives.

Together, we are also making an impact on some of the most important issues facing society. We made a bold commitment to donate a meal for each participant on our tours, having already donated almost 200,000 meals to needy and homeless people in Portugal over the last two years.

Living Tours is a leader in sustainability, already powering part of our fleet with 100% renewable energy and we have already sponsored the reforestation of the Pinhal de Leiria with 3000 trees to be planted next January 2024, planning to replant another 13,000 trees in the next 3 years making us the first tour operator in Portugal with a zero-carbon footprint on the planet.

Our company's success lies in creating jobs and opportunities for employees from all walks of life. We are committed to promoting equality, diversity and human rights in the workplace, from our corporate offices to our on-the-ground tourism operations.

I am pleased to announce that our total donation this year amounted to almost €100,000, the largest ever, bringing the total amount Living raised for the project (LivingTourians With Cause 1 for 1) to over €200,000 in the last 2.5 years. The money we raise is saving lives and bringing hope to people in need. It's a cause we can all be proud to support.

But in these last days of the year, it is above all important to prepare for the future. A future that we anticipate with many challenges for the profession and for people.

As you know, this digital era is bringing a transformation in many professions. Artificial intelligence, machine learning and robotics are enabling the increasing commoditization of compliance and repetitive or routine services.

At Living, we are aware of this enormous challenge and are committed to supporting our people in their personal and professional development and transformation.

So that we are always at the forefront, with motivated professionals, involved with the organization and prepared to respond to market demands.

This time of year, also represents a festive time, which we dedicate to our families, our friends, our people.

And our people are also our customers, partners, and friends, and especially our employees, who make Living Tours an extension of their family every day.

We hope we can continue to count on your trust to grow together, innovate together, and travel our path of many successes together.

Enjoy this time with your friends and loved ones. I couldn't be more excited about what's in store for next year and the opportunity to work with all of you to make it happen.

I wish you all a merry Christmas and a determined and winning 2024.

Happy Holidays!

Rui Terroso Founder & CEO

Living Tours Group