Tourism Holdings Limited · NZX:THL
Tourism — Shareholder Meeting (November 2026)
38 slides from Tourism's shareholder meeting presentation, Nov 6, 2026
Slide 1: 2026 Annual Meeting Materials media release
Tourism Holdings Limited 470 Oruarangi Road, Māngere, Auckland 2022 PO Box 4293, Shortland Street, Auckland 1140, New Zealand www.thlonline.com For personal use only 6 November 2026 NZX | ASX | MEDIA RELEASE TOURISM HOLDINGS LIMITED (thl) 2026 ANNUAL MEETING MATERIALS Tourism Holdings Limited (NZX:T
Slide 2: 2026 Annual Meeting Address: Chair's Address
Tourism Holdings Limited 470 Oruarangi Road, Māngere, Auckland 2022 PO Box 4293, Shortland Street, Auckland 1140, New Zealand www.thlonline.com For personal use only 6 November 2026 NZX | ASX | MEDIA RELEASE TOURISM HOLDINGS LIMITED (thl) 2026 ANNUAL MEETING ADDRESS Chair’s Address – Cathy Quinn ONZ
Slide 3: Chair's Address continued: FY26 performance
For personal use only Twelve months ago, we acknowledged that thl’s FY25 performance was simply not good enough. We had just released our growth roadmap, built around four strategic initiatives, and we said we expected thl to return to profit growth in FY26. Over the past twelve months, we have deci
Slide 4: Chair's Address continued: board changes
For personal use only But achievement of the goal within our original timeline, being by FY29, is still possible and as an organisation thl remains focused on achieving it. Before I hand over to Grant, I’d like to acknowledge several changes around our Board table today. We are pleased to have welco
Slide 5: CEO's Address: rentals as the business engine
For personal use only Our return on funds employed remains below target, and the reasons are clear; our US business, our Australian retail sales business, and vehicle sales more broadly on a global basis. Understandably, there is a lot of noise around the state of the RV sales industry, and I will t
Slide 6: CEO's Address: RV sales market and affordability
For personal use only Until recently the industry described this as a cyclical downturn that would come back once interest rates fell. However this is likely only part of the market. Over the last five years, cumulative inflation has pushed up the price of a new RV faster than many households' incom
Slide 7: CEO's Address: site investments and Waitomokia
For personal use only space has allowed us to build greater efficiency into the operation, including an integrated automated wash system. It has a similar look and feel to Waitomokia and represents the kind of modern, efficient facility we want across the network. Even though we’ve now been at Waito
Slide 8: CEO's Address: New Zealand tourism heritage
For personal use only While RVs are at the core of thl, we haven't forgotten where thl came from, which is New Zealand tourism. That heritage is still part of thl today through our Discover Waitomo and Kiwi Experience businesses. We are proud to be the operators of these important businesses in New
Slide 9: CEO's Address: trading update and outlook
For personal use only The operating environment remains pretty volatile, and at the moment there is no clear or consistent booking trend across our markets. We can have weeks that are very strong and well ahead of last year, followed by weeks that are flat or behind. The picture also varies consider
Slide 10: Contacts and About thl
For personal use only Investors and Analysts: Amir Ansari General Manager – Investor Relations & Group Planning Direct Dial: +64 9 336 4203 Mobile: +64 21 163 8053 About thl (www.thlonline.com) thl is a global tourism operator listed on the NZX and ASX (code: THL) and is the largest commercial RV re
Slide 11: 2026 Annual Meeting, November 2026
rsonal use only 2026 ANNUAL MEETING 6 NOVEMBER 2026
Slide 12: Welcome
thl 2026 ANNUAL MEETING 2 rsonal use only Welcome Cathy Quinn ONZM Chair
Slide 13: Proxies and postal votes
thl 2026 ANNUAL MEETING 3 Proxies and postal votes rsonal use only Valid proxy and postal votes 98.7 million Proxy and postal votes as a percentage of ordinary shares on issue 44.6% Proxies received appointing the Chair of the meeting as proxy 84.2 million
Slide 14: Agenda
thl 2026 ANNUAL MEETING 4 Agenda rsonal use only • Welcome and agenda • Chair’s address • Chief Executive’s address • Resolutions • Q&A & General Business
Slide 15: Chair's Address
thl 2026 ANNUAL MEETING 5 rsonal use only Chair’s Address Cathy Quinn ONZM Chair
Slide 16: Takeover update
thl 2026 ANNUAL MEETING 6 Takeover update rsonal use only Revised proposals received from both bidders Both the BGH consortium and Indie Campers have provided revised non-binding proposals to acquire thl Both proposals under review The Board is engaging with both parties, with its focus firmly on th
Slide 17: Delivering on our commitments
thl 2026 ANNUAL MEETING 7 Delivering on our commitments UK & Ireland rsonal use only ✓ Sold for ~$57 million Manufacturing ✓ Brisbane closed, Hamilton consolidated Australia Retail ✓ Branch network and products consolidated North America ✓ Operational improvements made, but returns are significantly
Slide 18: The $100 million underlying NPAT goal
thl 2026 ANNUAL MEETING 8 The $100 million underlying NPAT goal 1 2 rsonal use only RV RENTALS MANUFACTURING Is it still the right ambition? Yes. The Board believes that the opportunity remains Growing fleet in attractive Procurement benefits as and the core building blocks are in place markets, imp
Slide 19: Board acknowledgements
thl 2026 ANNUAL MEETING 9 Board acknowledgements JOINED RETIRING rsonal use only IN MAY 2026 IN NOVEMBER 2026 Barbara Chapman Sophie Mitchell CNZM Director since May 2026 Director since 2022 • Member, Audit & Risk • Chair, Remuneration Committee Committee • Member, Remuneration • Member, Audit & Ris
Slide 20: CEO's Address
thl 2026 ANNUAL MEETING 10 rsonal use only CEO’s Address Grant Webster CEO & Managing Director
Slide 21: FY26 progress and focus areas
thl 2026 ANNUAL MEETING 11 FY26 progress and focus areas ACHIEVEMENTS rsonal use only ↑ PROFIT GROWTH ✓ RECORD RENTAL REVENUE ↑ DIVIDEND GROWTH ✓ DEBT REDUCTION ↑ RENTAL FLEET GROWTH ✓ COST-OUT INITIATIVES FOCUS AREAS GLOBAL AUSTRALIAN US VEHICLE SALES RETAIL PERFORMANCE
Slide 22: Our core is rentals
thl 2026 ANNUAL MEETING 12 Our core is rentals The rental engine is performing BUILD → RENT → SELL rsonal use only BUILD Designed for rental RENT SELL Rotates rental fleet Core earnings engine • thl is differentiated by its integrated Build – Rent – Sell model, providing flexibility to manage build
Slide 23: North America
thl 2026 ANNUAL MEETING 13 North America Largest RV market and single largest opportunity rsonal use only Significant upside potential if thl can improve returns in the US Significant actions already taken Reduced funds employed and cost base, brought the US and Canada teams closer together, and mov
Slide 24: New Queenstown site opened August 2026
New Queenstown site opened August 2026 thl 2026 ANNUAL MEETING 14 rsonal use only
Slide 25: Flagship Waitomokia site opened March 2025
Flagship Waitomokia site opened March 2025 thl 2026 ANNUAL MEETING 15 rsonal use only
Slide 26: Flagship Winnebago Odyssey 40I
Flagship Winnebago Odyssey 40I thl 2026 ANNUAL MEETING 16 rsonal use only
Slide 27: Flagship Winnebago Odyssey 40I
Flagship Winnebago Odyssey 40I thl 2026 ANNUAL MEETING 17 rsonal use only
Slide 28: Berth Voyager
4 Berth Voyager thl 2026 ANNUAL MEETING 18 rsonal use only
Slide 29: New Zealand Tourism division
thl 2026 ANNUAL MEETING 19 New Zealand Tourism division rsonal use only An important part of thl’s heritage While thl’s core is RVs, Discover Waitomo and Kiwi Experience have been part of the business for almost 30 years The Group’s highest-performing division on ROFE The New Zealand tourism divisio
Slide 30: Our crew, safety and technology
thl 2026 ANNUAL MEETING 20 Our crew, safety and technology Our underlying philosophy rsonal use only Every crew member should go home each day in the same or better physical and mental state than when they started the day 10,000 Reasons Why A successful internal campaign asking our crew a simple que
Slide 31: Trading update and outlook
thl 2026 ANNUAL MEETING 21 Trading update and outlook rsonal use only • Q1 FY27 uNPAT was broadly flat with the prior year1 • Volatile operating environment, with inconsistent booking trends across markets and travel periods, as Middle East conflict and softer Australian consumer demand remain facto
Slide 32: Priorities for the year
thl 2026 ANNUAL MEETING 22 Priorities for the year 01 Grow rentals: Efficiently manage fleet, utilisation and yield, and capture deferred demand as confidence returns rsonal use only 02 Lift returns in the US: Maintain clear discipline on capital while actively exploring alternative strategic option
Slide 33: Formal Business
thl 2026 ANNUAL MEETING 23 rsonal use only Formal Business Cathy Quinn ONZM Chair
Slide 34: Resolutions
thl 2026 ANNUAL MEETING 24 Resolutions 1 Re-election of Cathy Quinn rsonal use only That Cathy Quinn, who retires by rotation and is eligible for re-election, be re-elected as a Director of the Company 2 Re-election of Robert Baker That Robert Baker, who retires by rotation and is eligible for re-el
Slide 35: Proxy and postal votes received before the meeting
thl 2026 ANNUAL MEETING 25 Proxy and postal votes received before the meeting RESOLUTION 1: RESOLUTION 2: RESOLUTION 3: RESOLUTION 4: RESOLUTION 5: rsonal use only RE-ELECTION OF RE-ELECTION OF RE-ELECTION OF ELECTION OF AUDITOR FEES CATHY QUINN ROB BAKER GRANT WEBSTER BARBARA CHAPMAN AND EXPENSES P
Slide 36: Q&A & General Business
thl 2026 ANNUAL MEETING 26 rsonal use only Q&A & General Business Cathy Quinn ONZM Chair
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Slide 38: Disclaimer
thl 2026 ANNUAL MEETING 28 Disclaimer This presentation contains This presentation has been information given in this This presentation does not take forward-looking statements and prepared for publication in New presentation is given for illustrative into account any specific investors rsonal use o
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