Deal Description: Liberty TripAdvisor Holdings, Inc. ("Liberty TripAdvisor") (Nasdaq: LTRPA, LTRPB) announced today that it has entered into an agreement with an affiliate of Certares Management LLC whereby Liberty TripAdvisor expects to repurchase in a private transaction approximately 40% of the 8% Series A Cumulative Redeemable Preferred Stock of Liberty TripAdvisor held by Certares. The purchase will be funded through a combination of proceeds of a new debt issuance by Liberty TripAdvisor and the delivery of shares of common stock of Tripadvisor, Inc.

Baker Botts represented Liberty TripAdvisor in the transaction.

Client: Liberty TripAdvisor

Baker Botts Lawyers/Office Involved:

Corporate: Samantha Hale Crispin (Partner; Dallas), Frederick McGrath (Senior Counsel; New York), Emily Lichtenfeld (Senior Associate; Austin), Nathaniel Richards (Associate; Houston), Victor Ochieng (Associate; Dallas)

Tax: Tamar Stanley (Partner; Washington, D.C.), Josh Mandel (Partner; Dallas), Peter Farrell (Senior Associate; Washington, D.C.)

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