ANNUAL RESULTS FOR THE YEAR ENDING 30 JUNE 2020

18 September 2020 MEDIA | NZX RELEASE TOURISM HOLDINGS LIMITED (thl) ANNUAL RESULTS FOR THE YEAR ENDING 30 JUNE 2020 Resilience to reset o Statutory net profit after tax (NPAT) of $27.4M, down 8% on the prior corresponding period (pcp), and statutory EBIT of $48.6M, down 22% on the pcp o Underlying NPAT of $20.0M, down 28% on the pcp result of $27.9M o Net debt of $128M as at 30 June 2020 has since fallen further to reach $75M as at 31 August 2020 o The USA vehicle sales business achieved 68% (in USD) revenue growth in the last four months of FY20, compared to the pcp o Global rental revenue was achieving revenue growth in the first eight months of FY20 compared to the pcp, prior to the impact of COVID-19 o Digital strategy refocused to a regional, cost-effective approach through thl digital and investment in triptech (formerly Outdoria) o Remain committed to our Future-Fit Business strategy thl today releases its results for the financial year ending 30 June 2020 (FY20). Mr Rob Campbell, thl Chair, said "thl's result for FY20 is, in the Board's review, an admirable achievement given the shock to the business from COVID-19 since March. The result is a testament to the resilience, intellectual capability and dedication of our people and our organisation." "There is considerable uncertainty over the coming 12 months, however we are confident that we have the right skills and capabilities to lead thl through these turbulent times and through to a recovery in international tourism. We are constantly assessing all potential scenarios and actively responding to developments as they occur." Mr. Grant Webster, thl Chief Executive, said "in the last six months of FY20, we have had an unwavering focus on managing the impact of international border closures and lockdown measures on our core businesses, while developing and implementing new product offerings as an essential services provider, and capitalising on growth in demand for RVs to effectively manage our balance sheet by reducing debt." "With good control of the balance sheet and strong ongoing demand for RV sales to date, we have prepared ourselves to operate in the current domestic market environment, and are appropriately positioned to recover at pace when international tourism returns." As previously advised, given current market conditions no final dividend has been declared for FY20. The integrated report, including the financial statements, as well as a detailed investor presentation are all available on thl's website. 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 End CA:00359966 For:THL Type:FLLYR Time:2020-09-18 08:31:04