Joint Venture TH2 announces new CEO

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




30 January 2019

MEDIA ANNOUNCEMENT

TOURISM HOLDINGS LIMITED (thl)
JOINT VENTURE TH2 ANNOUNCES DANIEL HEST AS NEW CEO

Please see attached the announcement released by TH2, the joint venture between thl and Thor Industries,
regarding the appointment of Daniel Hest as its new CEO.

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

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131 E. McMicken Ave. Cincinnati, OH 45202



FOR IMMEDIATE RELEASE

TH2 JOINT VENTURE NAMES DANIEL HEST CEO

Cincinnati, Ohio, January 24, 2019 – TH2, a joint venture between Thor Industries (NYSE: THO)
and Tourism Holdings Limited, today announced that it has named travel industry veteran Daniel Hest
as its new CEO, succeeding Bob Wheeler who will return to focus on his role as President of Airstream,
Inc. In his new role, Mr. Hest will be responsible for leading TH2 into the next phase of its growth and
development.

“We are pleased to welcome Danny Hest as TH2’s new CEO. Danny brings great experience in digital
platforms in the travel and reservation space,” said Bob Wheeler, TH2 CEO. "With the successful
launch of our Togo app last fall, TH2 is poised for the next phase in its growth. Hiring a talented
executive like Danny, with his successful track record of growing platform businesses, is an essential
step as we work to enhance the RV ownership experience through digital means.”

Grant Webster, Chief Executive Officer at Tourism Holdings Limited, noted "We have been very
fortunate to have Bob kick off TH2 and reach the early milestones. We are well positioned now to have
Danny leverage the work done to date and grow the business with the high caliber executive team we
have across the globe in TH2."

Mr. Hest will assume his role effective February 4, 2019 and will be based in Chicago. Prior to joining
TH2, Hest was the Senior Vice President and General Manager, Expedia Global Partner Solutions, at
Expedia Group in Chicago. Previously, he was Vice President, Americas Business Development and
Global Product Marketing at Orbitz Worldwide, a subsidiary of Expedia Group. Mr. Hest holds an
undergraduate degree in Communication from Cornell University and an MBA from the S.C. Johnson
School of Management at Cornell University.

Mr. Hest commented, “I am excited to lead such an innovative and aspirational venture as
TH2. Having spent the past decade of my career building digital platform businesses in the travel and
leisure space, I see great potential to transform the RV ownership experience with greater ease of use
coupled with enhanced product and service offerings from valued partners.”

Bob Wheeler added, “TH2 has generated considerable success with the launch of Togo, and we have
set our sights higher as we look to expand globally. With that in mind, we saw a need to strengthen
our leadership team and Danny is the right person with the experience, talent and network to help TH2
advance to the next level. Looking at the success he achieved at Expedia Group, we are confident in
Danny’s ability to replicate that success and help us achieve our long-term vision for TH2.”

About TH2
TH2 is a joint venture of Thor Industries, Inc., the world's largest manufacturer of recreational vehicles
and Tourism Holdings, Ltd. (thl), the world's largest RV rental and sales operator. It serves to bring
the full benefit of digital connectivity and the sharing economy to RV owners around the world. Focused
on enhancing enjoyment and safety of RV enthusiasts, this innovative and comprehensive platform
will improve every aspect of RV ownership. TH2 launched the first edition of Togo, an RV owner's best
friend and mobile companion on the road of RV ownership, in September 2018. Initial capabilities
include the ability to track maintenance, keep service records and contacts handy, as well as set
custom notifications and access helpful travel checklists. Eventually, the app will offer trip planning,
campsite booking, roadside assistance and more. For more information, please see the company’s
website at: https://th2.com/.

About Thor Industries, Inc.
Thor is the sole owner of operating subsidiaries that, combined, represent the world’s largest
manufacturer of recreational vehicles. For more information on the Company and its products, please
go to https://www.thorindustries.com.

About Tourism Holdings Limited (thl)
thl is the largest provider of RVs for rent and sale globally and New Zealand’s premier tourism
company, owning and operating RV rental and sale brands and centers in Australia, New Zealand, the
UK, and the US. For more information, visit: http://www.thlonline.com/.


Forward Looking Statements
This release includes certain statements that are “forward looking” statements within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward
looking statements are made based on management’s current expectations and beliefs regarding
future and anticipated developments and their effects upon Thor, and inherently involve uncertainties
and risks. These forward looking statements are not a guarantee of future performance. We cannot
assure you that actual results will not differ materially from our expectations. Factors which could
cause materially different results include, among others, raw material and commodity price
fluctuations; raw material, commodity or chassis supply restrictions; the impact of tariffs on material or
other input costs; the level and magnitude of warranty claims incurred; legislative, regulatory and tax
law and/or policy developments including their potential impact on our dealers and their retail
customers or on our suppliers; the costs of compliance with governmental regulation; legal and
compliance issues including those that may arise in conjunction with recently completed or announced
transactions; lower consumer confidence and the level of discretionary consumer spending; interest
rate fluctuations; the potential impact of interest rate fluctuations on the general economy and
specifically on our dealers and consumers; restrictive lending practices; management changes; the
success of new and existing products and services; consumer preferences; the ability to efficiently
utilize production facilities; the pace of acquisitions and the successful closing, integration and financial
impact thereof; the potential loss of existing customers of acquisitions; our ability to retain key
management personnel of acquired companies; a shortage of necessary personnel for production; the
loss or reduction of sales to key dealers; disruption of the delivery of units to dealers; increasing costs
for freight and transportation; asset impairment charges; cost structure changes; competition; the
impact of potential losses under repurchase agreements; the potential impact of the strength of the
U.S. dollar on international demand; general economic, market and political conditions; and changes
to investment and capital allocation strategies or other facets of our strategic plan. Additional risks and

uncertainties surrounding the acquisition of Erwin Hymer Group SE (the "Erwin Hymer Group") include
risks regarding the anticipated timing of the closing of the acquisition, the potential benefits of the
proposed acquisition and the anticipated operating synergies, the satisfaction of the conditions to
closing the acquisition in the anticipated timeframe or at all, the integration of the business, changes
in Euro-U.S. dollar exchange rates that could impact the mark-to-market value of outstanding
derivative instruments, the impact of exchange rate fluctuations and unknown or understated liabilities
related to the acquisition and Erwin Hymer Group's business. These and other risks and uncertainties
are discussed more fully in Item 1A of our Annual Report on Form 10-K for the year ended July 31,
2018 and Part II, Item 1A of our quarterly report on Form 10-Q for the period ended October 31, 2018.

We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward
looking statements contained in this release or to reflect any change in our expectations after the date
hereof or any change in events, conditions or circumstances on which any statement is based, except
as required by law.

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CONTACT
Mark Trinske
Vice President of Investor Relations
Thor Industries
(574) 970-7912
mtrinske@thorindustries.com