Pursuit Attractions And Hospitality, Inc. · NYSE:PRSU
Pursuit Attractions And Hospitality — Q2 2026 Earnings Presentation
47 slides from Pursuit Attractions And Hospitality's earnings presentation, Aug 5, 2026
Slide 1: Second Quarter 2026 Earnings Presentation
SECOND QUARTER 2026 EARNINGS PRESENTATION AUGUST 5, 2026
Slide 2: Disclaimer
DISCLAIMER This presentation contains a number of forward-looking ⁄ the impact of our borrowings, including our revolving credit For a more complete discussion of the risks and uncertainties statements. Words, and variations of words, such as “will,” facility, on our operational and financial flexib
Slide 3: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES This document includes the presentation of Adjusted EBITDA (or AEBITDA), Adjusted EBITDA Margin (or AEBITDA Margin) and Adjusted Net Income (Loss), which are intended to supplement results presented under accounting principles generally accepted in the United States of Am
Slide 4: Business & Financial Highlights
BUSINESS & FINANCIAL HIGHLIGHTS +14% 2 +14% Q2 Revenue Strategic Transactions FY AEBITDA1 Growth YOY Growth YOY Completed at Mid-Point Record Q2 Results Attractive Increased FY guidance with exceptional guest multiples for for contributions from experiences PRSU shareholders strategic transactions 1
Slide 5: Business Overview
BUSINESS OVERVIEW 5
Slide 6: Flyover Sale Completes Pursuit's Transformation into Pure-Play Growth Engine
FLYOVER SALE COMPLETES PURSUIT’S TRANSFORMATION INTO A PURE-PLAY ATTRACTIONS AND HOSPITALITY GROWTH ENGINE DISCIPLINED PORTFOLIO OPTIMIZATION STRENGTHENS GROWTH PLATFORM +$75M ~14.5x ⁄ ⁄ Divested non-core asset to sharpen focus Significantly strengthens the balance sheet Flyover Sale FY’25 AEBITDA ⁄
Slide 7: Owns and Operates Iconic, Irreplaceable Experiences
OWNS AND OPERATES ICONIC, IRREPLACEABLE EXPERIENCES IN THE WORLD’S MOST BEAUTIFUL PLACES EXPERIENTIAL INFRASTRUCTURE THAT CONNECTS GUESTS WITH ICONIC DESTINATIONS WORLD-CLASS EXPERIENCES ACROSS 4 COUNTRIES 14 SIGHTSEEING CANADA ATTRACTIONS1 29 DISTINCTIVE UNITED STATES LODGES INTEGRATED ICELAND F&B,
Slide 8: Pursuit's Differentiated Model and Strategic Positioning
PURSUIT’S DIFFERENTIATED MODEL AND STRATEGIC POSITIONING EXPERIENTIAL Unique-in-the-world, long-term experiential infrastructure that INFRASTRUCTURE connects guests with iconic destinations; not a tourism bet DEMAND ANCHORED Perennial guest demand driven by destination pull, not consumer TO DESTINAT
Slide 9: Aligned with the Strongest, Most Durable Global Travel Trends
ALIGNED WITH THE STRONGEST, MOST DURABLE GLOBAL TRAVEL TRENDS TRAVEL TRENDS WHY PURSUIT IS WELL POSITIONED ⁄ Own must-do, once-in-a-lifetime experiences in bucket-list Experiences Over Things destinations ⁄ Portfolio anchored in iconic natural destinations with scenic and Growth in Outdoor and Adven
Slide 10: A Proven Growth Playbook: Disciplined Capital Allocation
A PROVEN GROWTH PLAYBOOK: DISCIPLINED CAPITAL ALLOCATION, CONSISTENT STRATEGY, AND A CLEAR PATH TO GROWTH 2014-2025 GROWTH INVESTMENT SUCCESS STORIES PROVEN TRACK RECORD INVESTING IN ONE-OF-A-KIND EXPERIENCES ~6X EFFECTIVE BANFF GONDOLA MOUNT ROYAL HOTEL SKYWALK MALIGNE LAKE CRUISE FY’25 AEBITDA MUL
Slide 11: Built on a Decade of Execution, Confident in Next Phase of Growth
BUILT ON A DECADE OF EXECUTION, WE ARE CONFIDENT IN DELIVERING OUR NEXT PHASE OF GROWTH REVENUE GROWTH ($ in millions) DURABLE DOUBLE-DIGIT EXPECT CONTINUED >$845 GROWTH AT SCALE DOUBLE-DIGIT CAGR THROUGH 2030 HIGH-RETURN INVESTMENT ENGINE $452 >30% MARGIN EXPANSION THROUGH AEBITDA OPERATING LEVERAG
Slide 12: Vision 2030: Compound Growth, Expand Margins, Build Shareholder Value
VISION 2030: A DISCIPLINED STRATEGY TO COMPOUND GROWTH, EXPAND MARGINS, AND BUILD LONG-TERM SHAREHOLDER VALUE >$845M >$265M >30% 2030 Revenue AEBITDA AEBITDA Margin 2030 Target1 2030 Target1 2030 Target1 1. The company announced Vision 2030 targets in February 2026. Refer to slide 42 in the Appendix
Slide 13: 4 Levers to Grow Shareholder Value
4 LEVERS TO GROW SHAREHOLDER VALUE 13
Slide 14: Multiple Levers to Grow Shareholder Value
MULTIPLE LEVERS TO GROW SHAREHOLDER VALUE SUPPORTED BY STRONG TRACK RECORD & BALANCE SHEET DRIVING 1 INVESTING 2 EXPANDING 3 INVESTING 4 CONTINUOUS IN OURSELVES PORTFOLIO IN OUR GROWTH EVERY THROUGH WITH OWN SHARES YEAR ACROSS ORGANIC DISCIPLINED AT ATTRACTIVE OUR EXISTING GROWTH STRATEGIC VALUATION
Slide 15: Strong Balance Sheet with Substantial Investment Capacity
STRONG BALANCE SHEET WITH SUBSTANTIAL INVESTMENT CAPACITY TO FUND ALL GROWTH LEVERS CONCURRENTLY ROBUST LIQUIDITY WE HAVE THE CAPITAL STRUCTURE AND DISCIPLINE TO ~$220M + Continued Adjusted EBITDA SIMULTANEOUSLY Pro Forma Liquidity1 at 6/30/26 growth INVEST IN HIGH-RETURN GROWTH CAPEX LOW NET LEVERA
Slide 16: Driving Continuous Growth Every Year Across Existing Experiences
1 DRIVING CONTINUOUS GROWTH EVERY YEAR ACROSS OUR EXISTING EXPERIENCES LEVERAGING PERENNIAL DEMAND, RELENTLESS FOCUS ON GUEST AND TEAM MEMBER EXPERIENCE, AND GROWTH MINDSET 73 Team Member Engagement 1 75 48 Attractions Lodging Net Promoter Score2 Net Promoter Score2 +6% +9% Same-Store Q2 YTD Same-St
Slide 17: Guest Experience Design and Growth Mindset Drive Incremental Visitation
RELENTLESS FOCUS ON GUEST EXPERIENCE DESIGN COMBINED WITH A GROWTH MINDSET DRIVE INCREMENTAL ATTRACTION VISITATION RECENT STRATEGIC PROGRAMMING INITIATIVES EXAMPLES ROCKIES BLOOM & BRUNCH AND BEER RANGERS SUNSET FESTIVALS VOYAGE Driving family visitation to Driving morning and evening Driving evenin
Slide 18: Investing in Ourselves Through Organic Growth Projects
2 INVESTING IN OURSELVES THROUGH ORGANIC GROWTH PROJECTS INVESTMENTS IN WELL-INSTRUMENTED BUSINESSES WE OWN DELIVER HIGH RETURNS AT LOW RISK ~$75M >$300M >$40M Est. FY’26 Mid-Point Est. 2026-2030 Est. FY’301 Organic Growth Organic Growth AEBITDA Capex Capex Pipeline Contribution 1. The company annou
Slide 19: Case Study: Transformed Golden Skybridge Attraction
CASE STUDY: TRANSFORMED GOLDEN SKYBRIDGE ATTRACTION WITH NEW EAGLE NET PARK ADDITION AND AMPLE GROWTH OPPORTUNITY ENHANCED GUEST EXPERIENCE ⁄ Transformed from single sightseeing suspension bridge concept to scalable, multi experience adventure attraction at scale +86% +11% Total Revenue Net Promoter
Slide 20: Premier Lake Minnewanka Experience
PREMIER LAKE MINNEWANKA EXPERIENCE INVESTMENT HIGHLIGHTS ⁄ New premium product for an iconic Banff attraction to drive higher revenue per guest ⁄ Enhanced 1-hour guided experience with upgraded seating and comfort in a striking new exterior ⁄ Elevated guest journey with locally curated amenities and
Slide 21: Enhanced Glacier Experience with World's First Electric Ice Explorer
ENHANCED GLACIER EXPERIENCE WITH WORLD’S FIRST ELECTRIC ICE EXPLORER IN 2026 INVESTMENT HIGHLIGHTS ⁄ Elevates guest experience with quieter, more immersive journey on Athabasca Glacier ⁄ Differentiated attraction through a world’s first tourism innovation ⁄ Advances sustainability leadership and red
Slide 22: Repositioned Forest Park Hotel Woodland in 2026
REPOSITIONED FOREST PARK HOTEL WOODLAND IN 2026 INVESTMENT HIGHLIGHTS ⁄ Transforming year-round lodge with comprehensive upscale repositioning across guestrooms, public spaces, dining, and meeting facilities ⁄ Enhances guest experience, increases visitation, and supports ADR growth ⁄ Capturing highe
Slide 23: Hotel Whitefish, Next Chapter of Grouse Mountain Lodge
HOTEL WHITEFISH, THE NEXT CHAPTER OF GROUSE MOUNTAIN LODGE PHASED COMPLETION IN 2026 AND 2027 INVESTMENT HIGHLIGHTS ⁄ Transforming year-round lodge with elevated guestrooms, pool updates, new 300-person event center, and reimagined dining, lobby, guest spaces ⁄ Enhances guest experience, increases v
Slide 24: Banff Gondola Sky Bistro Expansion
BANFF GONDOLA SKY BISTRO EXPANSION COMPLETE AND OPEN IN 2026 INVESTMENT HIGHLIGHTS ⁄ Sky Bistro offers world class dining experience on the summit of Sulphur Mountain ⁄ Reimagined space and strategically designed dining room, lounge, and bar areas to offer all seated guests one of Banff’s most iconi
Slide 25: Elevating One-of-a-Kind Sightseeing Attractions
ELEVATING ONE-OF-A-KIND SIGHTSEEING ATTRACTIONS JASPER SKYTRAM BANFF GONDOLA Elevating the arrival-to-summit guest experience and Elevating the guest experience with a new modernized strengthening must-do position in Jasper National Park, lift and expanded amenities to enhance one of the most includ
Slide 26: Banff Jasper Lake Cruise Capacity Expansion in 2027
BANFF JASPER LAKE CRUISE CAPACITY EXPANSION IN 2027 INVESTMENT HIGHLIGHTS ⁄ Addition of new, upgraded 56- passenger tour boat will enhance the guest experience at Maligne Lake in Jasper and expand capacity ⁄ Existing 38-passenger boat at Maligne Lake will be transferred to Lake Minnewanka in Banff,
Slide 27: Reintroducing Denali Backcountry Adventure in 2027
REINTRODUCING DENALI BACKCOUNTRY ADVENTURE IN 2027 Premium, high-margin guided experience deep in Denali National Park, delivering rare access and unforgettable moments when road access reopens in 2027 27
Slide 28: New St. Mary Wildscapes Premium Cabins
NEW ST. MARY WILDSCAPES PREMIUM CABINS WITH ICONIC VIEWS OVERLOOKING GLACIER NATIONAL PARK IN 2027 New elevated stay near renowned Glacier National Park East Entrance on a mountain bluff with breathtaking views and a standout wellness sauna 28
Slide 29: Organic Growth Investments Underway
ORGANIC GROWTH INVESTMENTS UNDERWAY TO DELIVER ELEVATED EXPERIENCES AND STRONG RETURNS PYRAMID LAKE LODGE LOBSTICK LODGE Planned investments will add premium exterior hot tub Planned investments will elevate and reposition the and sauna amenities to elevate guest experience at year-round lodge in ic
Slide 30: Expanding Portfolio with Disciplined Strategic Acquisitions
3 EXPANDING PORTFOLIO WITH DISCIPLINED STRATEGIC ACQUISITIONS ROBUST PIPELINE OF FOREVER ASSET OPPORTUNITIES THAT ALIGN WITH OUR STRATEGY AND VALUES INVESTMENT CRITERIA EAGLE WING 15%+ IRR HURDLE RATE Acquired leading sightseeing Iconic, unforgettable, and inspiring attraction in iconic destinat
Slide 31: Eagle Wing Tours: Entry into Iconic Vancouver Island Market
EAGLE WING PURSUIT TOURS: fourth ENTRY quarter 2024INTO ICONIC VANCOUVER ISLAND MARKET HIGHLIGHTS WITH ACQUISITION OF LEADING SIGHTSEEING ATTRACTION BUSINESS On July 14, 2026, Pursuit acquired Eagle Wing Tours for C$23.9M1 at an effective AEBITDA multiple of ~6.5x1 ⁄ Iconic Destination with Perennia
Slide 32: Tabacón: High-Quality Strategic Acquisition Creating Value
TABACÓN: HIGH-QUALITY STRATEGIC ACQUISITION CREATING VALUE INVESTMENT UPDATE ⁄ 8% Revenue Growth YTD1 vs. prior year ⁄ TTM1 AEBITDA Growth has driven effective purchase multiple down to nearly 9x in first year ⁄ Building 3 new premium Villas to meet year-round demand from Enhanced Arrival Experience
Slide 33: Investing in Our Own Shares at Attractive Valuations
4 INVESTING IN OUR OWN SHARES AT ATTRACTIVE VALUATIONS REINFORCING OUR CONFIDENCE IN PURSUIT’S LONG-TERM OUTLOOK $100M $43M >40% Repurchase Repurchased Appreciation Authorization To Date1 Relative to Avg $57M Remaining $35.72 Avg Share Price Repurchase Price2 1. Shares repurchased to date through Au
Slide 34: Financial Highlights & Outlook
FINANCIAL HIGHLIGHTS & OUTLOOK 34
Slide 35: Second Quarter 2026 Performance Highlights
PURSUIT SECOND RECORD fourth quarter QUARTER 2024PERFORMANCE HIGHLIGHTS HIGHLIGHTS $133M $15M +14% Revenue Growth YOY Q2’26 Q2’26 Revenue Net Income1 Primarily reflects strong contributions from Tabacón (acquired July 2025) and continued growth across existing geographies +10% $33M 25% AEBITDA Growt
Slide 36: Second Quarter 2026 Attraction Performance
PURSUIT QUARTER SECOND fourth quarter 20262024 ATTRACTION HIGHLIGHTS PERFORMANCE TICKET REVENUE ATTRACTION ($ in millions) METRICS Visitors ⁄ 3% growth in +3% (in thousands) ticket revenue primarily from strong -3% performance at $53 $55 1,135 1,096 Tabacón (acquired July 2025) ⁄ 3% decrease in visi
Slide 37: Second Quarter 2026 Hospitality Performance
PURSUIT QUARTER SECOND fourth quarter 20262024 HOSPITALITY HIGHLIGHTS PERFORMANCE Forest Park ROOM REVENUE HOSPITALITY Alpine Hotel Jasper ($ in millions) METRICS National Park Same-Store1 RevPAR ⁄ 27% room +10% revenue +27% growth primarily $187.15 $33 $170.12 from strong performance at Tabacón (ac
Slide 38: 2026 Lodging Booking Pace Remains Strong
2026 LODGING BOOKING PACE1 REMAINS STRONG Lodging pacing is a leading indicator of destination demand and the strength in advanced bookings supports our favorable outlook for both our lodging and attractions CANADIAN LODGING US LODGING FY Room Revenue on the Books1 FY Room Revenue on the Books1 (CAD
Slide 39: Raising Full Year 2026 Guidance
RAISING FULL YEAR 2026 GUIDANCE, PURSUIT fourth quarter 2024 HIGHLIGHTS WITH EXPECTATION FOR CONTINUED STRONG GROWTH EXPECT DOUBLE DIGIT GROWTH YOY IN REVENUE AND AEBITDA AT MID-POINT, WITH MARGIN IMPROVEMENT GUIDANCE CHANGES ADJUSTED EBITDA1, 2 ($ in millions) ⁄ Incremental ~$6M of AEBITDA from del
Slide 40: Thank You
Thank You VISIT INVESTORS.PURSUIT.COM CONTACT INVESTOR RELATIONS ir@pursuit.com (602) 207-2681 40
Slide 41: Appendix
y APPENDIX PURSU/T 4
Slide 42: Our View to 2030
PURSUIT OUR VIEWfourth quarter 2024 HIGHLIGHTS TO 2030 Revenue: >$845M ⁄ Double-digit revenue CAGR driven by strong demand trends, our focus on guest >15% CAGR from 2025 (excl. Flyover) experience, and growth investments Adjusted EBITDA: >$265M ⁄ >2.3x increase in AEBITDA from 2025 (excluding Flyove
Slide 43: 2026 Financial Outlook
PURSUIT 2026 FINANCIAL fourth quarter OUTLOOK2024 HIGHLIGHTS ($ in millions) FY’26 GUIDANCE2 FY’25 ACTUALS $485 at the mid-point $452.4 Revenue ($460 excluding Flyover) ($413.8 excluding Flyover) $128 to $138 $117.1 Adjusted EBITDA1 ($121 to $131 excluding Flyover) ($111.9 excluding Flyover) $31 to
Slide 44: Strong Balance Sheet for Accelerated Growth
STRONG BALANCE SHEET FOR ACCELERATED GROWTH WITH PURSUIT fourth quarter 2024 HIGHLIGHTS LOW LEVERAGE AND SIGNIFICANT REVOLVER CAPACITY SECOND QUARTER 2026 BALANCE SHEET AND LIQUIDITY HIGHLIGHTS BALANCE SHEET Q1’263 Q2’264 LIQUIDITY Q2’26 ($ in millions) ($ in millions) Cash and Cash Equivalents 35.4
Slide 45: Supplemental Revenue Detail
PURSUIT fourth quarter SUPPLEMENTAL REVENUE 2024 HIGHLIGHTS DISCLOSURES DETAIL 2025 2026 Q1 Q2 Q3 Q4 FY Q1 Q2 (in thousands) Ticket Revenue $ 18,952 $ 53,200 $ 100,391 $ 28,110 $ 200,653 $ 23,146 $ 54,668 Rooms Revenue 7,339 25,952 59,677 12,123 105,091 13,090 32,973 Food and Beverage 6,123 17,324 3
Slide 46: Key Performance Indicators Detail
PURSUIT KEY fourth quarter PERFORMANCE 2024 HIGHLIGHTS INDICATORS DETAIL 2025 2026 Q1 Q2 Q3 Q4 FY Q1 Q2 As Reported Attractions KPIs: Number of Visitors (000s) 459 1,135 1,981 643 4,218 482 1,096 Effective Ticket Price $ 41.25 $ 46.87 $ 50.69 $ 43.71 $ 47.57 $ 48.02 $ 49.88 Ticket Revenue (000s) $ 1
Slide 47: Non-GAAP Financial Reconciliation
NON-GAAP FINANCIAL RECONCILIATION ADJUSTED EBITDA (000's) Q2'25 Q2'26 FY'25 Revenue 116,743 133,493 452,417 Net income attributable to Pursuit 5,646 15,172 22,668 Net income attributable to non-redeemable noncontrolling interest 3,085 1,952 13,641 (Income) loss from discontinued operations, net of t
Pursuit Attractions and Hospitality — Q2 2026 Earnings Presentation on 6ix