Operational Update & ’Great New Zealand Motorhome Sale’

4 September 2020 MEDIA | NZX RELEASE TOURISM HOLDINGS LIMITED (thl) OPERATIONAL UPDATE AND LAUNCH OF GREAT NEW ZEALAND MOTORHOME SALE thl today provides an operational update on its New Zealand rentals and sales business following the fire at the Mangere branch yesterday morning. A pop-up rentals branch has now been set up on Puhinui Road in South Auckland, approximately 10 minutes away from the Mangere branch. The pop-up site is expected to be operational for vehicle pick-ups and drop-offs from this afternoon. The location is an existing thl off-site parking facility and therefore has a large number of vehicles located on-site that are ready for pick-ups. The Mangere branch currently remains unusable. At this stage, only a small number of the approximately 150 vehicles remaining on-site appear to have physical damage. thl continues to work with its insurer to assess the extent of the damage resulting from the incident. Given the number of vehicles remaining on-site at Mangere, customers originally scheduled to pick up vehicles from that branch yesterday have been impacted. thl would like to sincerely thank the fire and emergency services crew that have assisted in containing the fire and protecting hundreds of motorhomes on-site at the time. The 'Great New Zealand Motorhome Sale' Despite the devastating fire, thl has also today launched the 'Great New Zealand Motorhome Sale' campaign in New Zealand, with 1,000 additional vehicles to the value of over $70 million available for sale across locations nationwide. Originally scheduled for launch yesterday, the campaign was postponed as a result of the disruption from the fire at Mangere. thl is partnering with dealers nationwide to ensure that a wide variety of quality vehicles are available across New Zealand with a range of free add-ons. This includes free servicing and accessories, the ability to use up to $1,500 in rental fees with thl as a credit towards the purchase of an RV, and other benefits. Chief Executive, Grant Webster, said "we are seeing an increased interest from New Zealanders for motorhomes off the back of our 'get moving, to get New Zealand moving' rentals campaign. As such, we have launched the 'Great New Zealand Motorhome Sale' to make the most of this momentum as we adjust our fleet level to better reflect our near-term requirements." "The 1,000 vehicle sales we are targeting as part of the campaign are in addition to our original target for FY21 of 500 - 800 vehicle sales in New Zealand, as indicated in our market update on 31 July 2020." The additional sales proceeds are initially expected to be used for the repayment of debt. In the event that vehicles are sold at volumes near thl's targeted level, we expect to also use those proceeds to replenish thl's New Zealand fleet ahead of the 2021/2022 summer season. Further information on the campaign can be found at greatnewzealandmotorhomesale.com. ENDS Authorised by: Rob Campbell Chairman, Tourism Holdings Limited For further information contact: Grant Webster thl Chief Executive Direct Dial: +64 9 336 4255 Mobile: +64 21 449 210 About thl (www.thlonline.com) thl is a global tourism operator. We are listed on the NZX and are the largest provider of RVs for rent and sale in Australia and New Zealand, and the second largest in North America. In the USA, we own and operate the Road Bear RV Rentals & Sales brand and El Monte RV Rentals & Sales. In the UK, thl owns 49% of Just go Motorhomes. Within New Zealand, we operate Kiwi Experience and the Discover Waitomo group, which includes Waitomo Glowworm Caves, Ruakuri Cave, Aranui Cave and The Legendary Black Water Rafting Co. thl is a joint venture partner in Action Manufacturing LP, New Zealand's largest motorhome and specialist vehicle manufacturer. End CA:00359267 For:THL Type:MKTUPDTE Time:2020-09-04 11:39:04