thl update on guidance for FY19

12 August 2019 NZX ANNOUNCEMENT TOURISM HOLDINGS LIMITED (thl) UPDATE ON GUIDANCE YE 30 JUNE 2019 Adjusted Guidance for FY19 Financial results thl is in the process of finalising its statutory accounts and audit for the 12 months to 30 June 2019. As part of the tax provision assessment for the year end accounts, external advisers have identified one-off tax benefits in the USA of approximately NZ$1.8m owing primarily to an allowance under the tax code to carryback tax losses to previous tax years. The tax years that the losses were applied to had a higher tax rate than the losses were previously valued at. As a result of this benefit, the company now expects to comfortably exceed the top end of its guidance range for net profit after tax for the year of NZ$25 - $27m. Excluding the impact of the tax benefits, thl expects that the results will be at or slightly above the top end of the guidance range. thl will report its full year results to the NZX on Tuesday 27 August 2019. END Authorised by: Rob Campbell Chairman, Tourism Holdings Limited For further information contact: Grant Webster thl Chief Executive Officer Direct Dial: +64 9 336 4255 Mobile: +64 21 449 210 End CA:00338927 For:THL Type:MKTUPDTE Time:2019-08-12 08:42:50