Strategic initiative update - Australian Retail Sales

Tourism Holdings Limited
470 Oruarangi Road, Māngere,
Auckland 2022
PO Box 4293, Shortland Street,
Auckland 1140, New Zealand
www.thlonline.com


8 September 2025

NZX | ASX | MEDIA RELEASE
TOURISM HOLDINGS LIMITED (thl)

STRATEGIC INITIATIVE UPDATE - AUSTRALIAN RETAIL SALES

Tourism Holdings Limited (NZX:THL, ASX:THL, “thl” or “the Company”) today provides an update on its
strategic initiatives for the Australian Retail Sales division, as outlined in the thl growth roadmap released on
4 August 2025.

In recent weeks, thl has taken a number of decisive actions to improve the division. These include rationalising
the product portfolio by exiting low-margin models, consolidating the brand structure, and accelerating
efforts to reduce inventory levels.

Building on these actions, thl will now commence the exit of its standalone Sydney RV Super Centre and
Kratzmann RV Super Centre dealerships, located in Sydney and Brisbane, respectively.

Chief Executive Officer, Grant Webster, said “these actions reflect our commitment to delivering on the four
strategic initiatives we announced last month. Exiting the Sydney RV and Kratzmann dealerships will reduce
overheads and limit exposure to the broader RV sales market, while still maintaining a sales presence in both
cities by leveraging shared overheads with our RV rental operations. Although overall sales volumes will
decrease, we will have an increased focus on ex-fleet sales where thl has historically achieved higher margins
and holds greater competitive advantages.”

Alongside these changes, thl is reviewing the organisational structure of the Australian Retail Sales division
to maintain alignment with the division’s revised footprint and focus.

Grant Webster said, “the rationalisation of locations, products, brands and organisational structure, alongside
further reductions in inventory, is expected to significantly improve the divisional performance in FY26. These
changes create a more streamlined and capital-efficient business for the years ahead, supporting better
Returns on Funds Employed.”

thl will be undertaking a streamlined asset sale process for the two dealerships to explore potential interest
and invites interested parties to get in touch using the contact details provided below.


ENDS

Authorised by:

Cathy Quinn ONZM
Chair, Tourism Holdings Limited

For further information contact:

Media:
Grant Webster
thl Chief Executive Officer
Direct Dial: +64 9 336 4255
Mobile: +64 21 449 210

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 rental operator
in the world. In New Zealand/Australia, thl operates rental brands (Maui, Britz, Apollo, Mighty, Hippie, Cheapa Campa),
manufacturing (Action Manufacturing, Apollo), retail brands (Talvor, Kea, Winnebago, Adria, Coromal, Windsor), retail
dealerships (RV Super Centre, Apollo RV Sales, Kratzmann, George Day, Sydney RV, Camperagent), travel technology
(Triptech) and tourism attractions (Kiwi Experience and the Discover Waitomo Group, which includes Waitomo
Glowworm Caves, Ruakuri Cave, Aranui Cave and The Legendary Black Water Rafting Co.). In North America, thl operates
the Road Bear RV, El Monte RV, CanaDream, Britz and Mighty rental brands. In UK and Europe, thl operates the Just go,
Apollo and Bunk Campers rental brands.