Citigroup becomes significant Flight Centre shareholder as L1 capital reduces stake

Citigroup Global Markets Australia Pty Limited and its related entities collectively became a substantial holder in Flight Centre Travel Group Limited (FLT) on October 23, 2025, with a total voting power of 5.1848%. This equates to 11,080,648 ordinary fully paid securities. The various entities, including Citibank, N.A. Sydney Branch, Citigroup Global Markets Australia Pty Limited, Citigroup Global Markets Funding Luxembourg S.C.A., Citigroup Global Markets Hong Kong Limited, and Citigroup Global Markets Limited, hold relevant interests through securities lending agreements and ordinary course stock market contracts.

Concurrently, L1 Capital Pty Ltd, which previously held 7.42% of Flight Centre's voting power (16,148,668 votes), reported a change in its substantial holding. As of October 27, 2025, L1 Capital's voting power decreased to 5.48%, representing 11,705,511 ordinary fully paid shares. This adjustment resulted from several on-market sales between September 25 and October 27, 2025, totaling sales consideration of over $47 million.

L1 Capital's remaining relevant interests are held through Merrill Lynch (Australia) Nominees Pty Limited, Morgan Stanley & Co. International PLC, and Goldman Sachs International, acting as discretionary investment managers or advisers. These transactions highlight significant shifts in the ownership structure of Flight Centre Travel Group Limited.