Vista International : delivers big screen result

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Market Announcement

1 March 2022, Vista Group International Limited, Auckland, New Zealand.

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Vista delivers big screen result

[Auckland, NZ, 1 March 2022]: Vista Group International (NZX & ASX: VGL) announces its 2021 Full Year result today, reporting strong moviegoer attendance globally, commercialisation of Vista Cloud and stronger competitive position.

Highlights

• Achieved 2H21 revenue, EBITDA1 and cash guidance
• Strong box office off the back of Spider-Man:No Way Home, North American Domestic market >US$2b 4Q21
• Stabilised market conditions, cinemas largely open and blockbuster movies released on schedule
• First Vista Cloud customer live and delighted
• Retriever purchase cash and profit positive, supports long term competitive position

Key Financial Highlights

• Revenue of $98.1m (up 12% on 2020) within guidance range
• Recurring revenue1 of $81.4m (up 24% on 2020)
• EBITDA1 profit of $6.5m, improvement of $17.9m on 2020
• Positive 2H21 EBITDA1 excluding expected credit loss and foreign exchange of $1.3m
• Positive operating cashflow of $11.3m, up 277% on 2020
• Cash of $60.4m, up $2.3m from 30 June 2021. Net cash2 of $43.6m

Key Operational Highlights

• Maintains 51% market share of the 20+ screens segment excluding China
• Good progress with Vista Cloud and Vista Digital - improved opportunities for growth
• Expansion and retention of talent is a key focus for 2022
• New customers in Vista Cinema, Veezi, Mica. Vista Cinema expands Odeon footprint.

Please refer to the following documents that accompany this announcement for full details of the result.

• 2021 Annual Report
• 2021 Full Year Result Investor Presentation
• 2021 Full Year Result Media Announcement
• 2021 Full Year NZX Results Announcement Matt Cawte
  Chief Financial Officer
  Vista Group International Limited Contact: [phone]

1. See sections 2.1 and 2.2 of the Financial Statements in the 2021 Annual Report for the definition and reconciliation of recurring revenue and EBITDA.
2. Net Cash is total cash less total borrowings

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Annual Report

Limited	2021
Vista Group

International

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Our purpose

Enhancing the moviegoer experience

This report is dated 28 February 2022 and signed
on behalf of Vista Group International Limited	Susan Peterson	Murray Holdaway
by Susan Peterson and Murray Holdaway.	Chair	Director

Contents

1. Letter from the Chair and CEO

1. Key strategies for 2022
2. Group overview

1. Customer focused innovation

1. Our climate, people and community

1. Group trading overview

1. Corporate governance

1. Financial statements

1. Independent auditor's report

1. Directory

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Dear Shareholder,

Cinemas are open, blockbuster movies are being released and moviegoers are back enjoying the cinema experience. A year which began with some uncertainty has concluded with box office records tumbling around the world.

In parallel, we are seeing a step change in the way that business is conducted globally as digitisation accelerates across all industries and more businesses adopt cloud technologies. Positioned at the intersection of technology and the moviegoing experience, Vista Group is ideally placed to support our customers as they tackle these challenges and realise the benefits of doing business using our platform.

Against this backdrop, our business has performed strongly and we are delighted to have delivered a resilient set of financial results. We have delivered on each of the metrics we targeted at the half year. We delivered revenue at the top end of the range representing a 12% increase on 2020. We have also delivered 24% growth in recurring revenue and met our commitment to be cashflow positive in the second half of the year.

Our careful financial discipline has also meant that we have been able to advance our Vista Cloud transition and look after our people in an increasingly competitive global labour market for technology talent.

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Our team

We have prioritised doing what we can to best support our people and create an inclusive, fair and flexible work environment that enables all of our people to realise their potential.

This past year, we have actively explored different 'ways of working' and focussed heavily on what we can do to support the wellbeing of our people - in particular as they have largely been working from home.

We implemented a trial 'R&R Fridays' where we are encouraging our global workforce to use their Friday afternoons to step away from work and refresh. Early indications are that R&R Fridays has been a terrific success with a fully engaged team and with productivity remaining unaffected.

Other initiatives include implementing a employee share scheme for all non-executive employees in New Zealand, USA, and the UK, and launching a refreshed leadership development program across the business

• with personalised plans structured to challenge and excite our people to grow their leadership skills and experience.

In a very competitive market for talent, it is encouraging to see our eNPS scores continue to climb, and our employee turnover rate remaining comparatively low.

Another continued area of focus is diversity and inclusion. At Vista Group, diversity means acknowledging, appreciating and celebrating all of the many ways that we are different

in all of its forms, both visible and not. It includes differences that relate to gender, age, culture, ethnicity, race, disability, family status, language, religion, sexual orientation, gender identify, as well as differences in background, skills, work styles, perspective and experiences.

Vista Group is a proud member of the New Zealand Champions of Change group, and we have signed up to 40:40:20 as a target to focus our efforts in increasing the representation of women across the Group.

Our customers

Our customers remain at the centre of everything that we do. Though cinema circuits globally continue to work within restricted or controlled conditions, the increased supply of blockbuster movies has meant that more cinemas have been open and are now enjoying improved financial performance. These improvements flow on to benefit

our studio and distributor customers too.

In the early months of the pandemic, the future relevance of the cinema experience was questioned as people took to streaming while in lockdown. This enabled other movie distribution models to be tested. The results are clear and the cinema experience has been reaffirmed as a cornerstone of the economic model of blockbusters. The major studios have now all committed to an exclusive theatrical window, averaging 45 days, for the vast majority (in some cases all) of their premium content in 2022.

We look forward to a tremendously exciting 2022 as we build out our Digital and Cloud offerings, help more customers to be successful and capitalise on new opportunities.

There is no better illustration than the success of Spider-Man:No Way Home, which was released globally in December 2021. Even with operating restrictions still in place in many countries, Spider-Man:No Way Home has become the 6th biggest movie of all time globally, the third biggest in the North American domestic market (displacing Avatar) and the #1 superhero movie in 19 countries.

Innovation and growth

Across the Group we've continued to progress our innovation agenda. An exciting milestone was the first iteration of Vista Cloud becoming production ready in early December, and

the continued innovation of Movio Madex and the new Movio Cinema EQ (which will release later in 2022).

Numero and Maccs have continued to deliver, with Numero now reporting from

35 territories in total, and the cloud-based Mica (from Maccs) increasing customer numbers from 6 in 2020 to 17 at the end of 2021. It was also very pleasing to see the Flicks team launch into the UK as their success in Australasia created momentum with moviegoers and advertisers.

After the reporting date, we announced the acquisition of the Retriever cinema software business in the USA. This acquisition, though small in total revenue, increases the strength of Vista Cinema's footprint in USA market and will speed the adoption of our SaaS solutions, with a commitment from the largest Retriever customer to transition to Vista Cloud during 2022.

A further highlight for us has been the recently announced expansion of the Odeon Cinemas Group relationship into Spain and Portugal which will include the full range of our platform offerings - Vista Cinema, Movio, Vista Digital, movieXchange, and Numero.

Vista Group's environmental and social impact

We remain focused on lessening our impact on the environment for current and future generations.

We are working with two specialist climate agencies to ensure we provide the right information to our stakeholders and the wider community as TCFD Reporting comes into force - but further, that we make meaningful and sustained efforts to reduce our carbon footprint over time.

We intend to report on our response to climate change, in alignment with the standards of the Task Force on Climate-related Financial Disclosures. More information about our social and environmental impact program

is on page 28.

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