Update on possible sale of some tourism businesses

Tourism Holdings Limited
Tel: +64 9 336 4299
The Beach House
Email: info@thlnz.co.nz
Level 1, 83 Beach Road
www.thlonline.com
Auckland City

PO Box 4293, Shortland Street

Auckland 1140, New Zealand




3 December 2018

NZX ANNOUNCEMENT

TOURISM HOLDINGS LIMITED (thl)
UPDATE ON POSSIBLE SALE OF SOME TOURISM BUSINESSES

On 23 October 2018, thl announced that it was in discussions regarding the possible sale of the Kiwi Experience
business and some of the Discover Waitomo businesses, including Black Water Rafting, Ruakuri and the Waitomo
Homestead.

thl wishes to advise that, at what we consider the final stage in the negotiation of the potential transaction, the
prospective purchaser for these businesses has decided not to proceed, seeking to reduce the purchase price. thl
has remained clear in its view of the value of the tourism businesses; strategically, economically and socially.

We have received offers for these businesses for many years and we are sure we will continue to do so. Just as
we always have, we will only ever consider any interest if we believe it is right for the business and the teams;
however, the focus now is to ensure there are no distractions for anyone, including our customers, as we head
into the current high season under thl ownership.

END

Authorised by:


Rob Campbell
Chairman
Tourism Holdings Limited

For further information contact:
Grant Webster
thl Chief Executive
Direct Dial: +64 9 336 4255 | Mobile: +64 21 449 210