Event Hospitality & Entertainment : Year End Results Presentation

RESULTS PRESENTATION

2 3 A U G U S T 2 0 2 1

Y E A R E N D E D 3 0 J U N E 2 0 2 1

EVENT FULL YEAR RESULTS

WEBCAST AND DIAL IN DETAILS

M O N D AY 2 3 A U G U S T 2 0 2 1

2 : 0 0 P M ( A E D T )

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E V E N T H O S P I T A L I T Y & E N T E R T A I N M E N T

O V E RV I E W

H2 TURNAROUND - POSITIVE FULL YEAR EBITDA

When Government restrictions are lifted, demand returns.

• Government mandated restrictions severely impacted H1, when restrictions eased in H2 there were signs of demand at pre-COVID 19 levels.
• • 80% of cinemas opened in USA unlocking blockbuster releases; AU/NZ Easter weekend exceeded 2019.
  • Q4 US hotel occupancy above 60%; EVT Hotels quarter-by-quarter improvement to high of 63.1% in Q4.
  • Restrictions resulted in Thredbo skier visits down 48.7% in 2020, strong summer trade - full year record revenue result.
• H2 revenue exceeded H1 and H2 FY20 for Entertainment Australia and New Zealand, and Hotels and Resorts.

All divisions generated positive EBITDA in H2.

• Turnaround from H1 Group EBITDA loss -$31.1 million, to FY Group EBITDA +$27.2 million.
• • Thredbo FY EBITDA record result +$29.8 million; EBITDA margin +4.2 percentage points on FY20
  • Entertainment Group H2 EBITDA +$25.3 million on H1 loss of $65.4 million.
  • Hotels Group H2 EBITDA +94.7% on H1, Full Year positive EBITDA of $33.4 million.

Significant $264 million of active cost management (excludingGovernment subsidies) since COVID begun.

• Operating cash burn in H1 of $29.1 million (after lease payments) to operating cashflow positive in H2 of $49.0 million.
• New operating models working well delivering early signs of margin improvements.

E V E N T H O S P I T A L I T Y & E N T E R T A I N M E N T

MITIGATING THE COVID-19 IMPACT

YEAR ENDED 30 JUNE 2021

N O R M A L I S E D E B I T D A

COVID-19

Impact - 45% YoY

COVID-19

Response +85%

1. Normalised EBITDA is profit before depreciation, amortisation, the impact of AASB 16 Leases, interest, tax and individually significant items. Normalised profit is an unaudited non-International Financial Reporting Standards ("IFRS") measure.
2. Reduced revenue is before wage subsidies and support (presented separately).
3. Revenue related cost savings include film hire and cost of goods sold.
4. Subsidies and support represent incremental amounts recognised during the year ended 30 June 2021 when compared with the year ended 30 June 2021 and includes German government support recognised during the year and wage subsidies including JobKeeper in Australia, the Wage Subsidy in New Zealand, and Short-Time Pay in Germany. Approximately half of all wage subsidies received in the year represented a pass-through to employees that were not working during the period.
5. Active cost management represents all other cost savings in the year other than revenue related cost savings identified separately above.

E V E N T H O S P I T A L I T Y & E N T E R T A I N M E N T

MITIGATING THE COVID-19 IMPACT

C O V I D - 19 PERIOD: MARCH 2020 TO JUNE 2021

N O R M A L I S E D E B I T D A

COVID-19

Impact - 66%

COVID-19

Response +67%

1. Normalised EBITDA is profit before depreciation, amortisation, the impact of AASB 16 Leases, interest, tax and individually significant items. Normalised profit is an unaudited non-International Financial Reporting Standards ("IFRS") measure.
2. Reduced revenue is before wage subsidies and support (presented separately).
3. Revenue related cost savings include film hire and cost of goods sold.
4. Subsidies and support include German government support recognised during the period and wage subsidies including JobKeeper in Australia, the Wage Subsidy in New Zealand, and Short-Time Pay in Germany. Approximately half of all wage subsidies received in the year represented a pass- through to employees that were not working during the period.
5. Active cost management represents all other cost savings in the year other than revenue related cost savings identified separately above.

E V E N T H O S P I T A L I T Y & E N T E R T A I N M E N T