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Q1 27 TRADING UPDATE EXPERIENCE CO LIMITED | Q1 27 TRADING UPDATE | OCTOBER 2026
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DISCLAIMER Summary information This presentation has been prepared by Experience Co Limited (ASX: EXP) contains summary information about EXP and its related bodies corporate and their activities. The information in this presentation is of a general background nature and does not purport to be complete or comprise all the information that an investor would require when making an investment decision. It should be read in conjunction with EXP’s other periodic and continuous disclosure announcements which are available at www.experienceco.com. Other than to the extent required by law (and only to that extent EXP and its officers, employees and professional advisors make no representation or warranty (express or implied) as to, and assume no responsibility or liability for, the contents of this presentation. Past performance Past performance information given in this presentation is for illustrative purposes only and should not be relied upon as (and is not) an indication of EXP's views on its future financial performance or condition. Future performance This presentation contains certain forward-looking statements. Forward-looking statements, opinions and estimates provided in this presentation are inherently uncertain and are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Actual results and performance may vary materially because events and actual circumstances frequently do not occur as forecast and future results are subject to known and unknown risk such as changes in market conditions and regulations. Investors should form their own views as to these matters and any assumptions on which any of the forward-looking statements are based and not place reliance on such statements. Not financial product or investment advice This presentation and the information therein should not be considered as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities. Before acting on any information, you should consider the appropriateness of the information having regard to these matters, any relevant offer document and, in particular, you should seek independent financial advice. Non Australian Accounting Standard (‘AAS’) measures EXP results are reported in accordance with AAS. However, this presentation includes certain financial information that are non-AAS measures for the purpose of providing a more comprehensive understanding of the performance of EXP. These non-AAS financial measures include EBITDA, EBIT, Underlying EBITDA and Underlying EBIT measures which provide useful information for measuring the underlying operating performance of EXP. Non-AAS financial information is unaudited. © 2026 Experience Co Limited ACN 167 320 470 2EXPERIENCE CO LIMITED | Q1 27 TRADING UPDATE | OCTOBER 2026
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Q1 27 TRADING UPDATE 3 GROUP FINANCIAL OVERVIEW – CONTINUING OPERATIONS(1)(2) EXPERIENCE CO LIMITED | Q1 27 TRADING UPDATE | OCTOBER 2026 Unaudited Revenue and Underlying EBITDA growth vs. PCP(4) of +6% and +20% respectively NOTES: (1) Financial results for the quarter ended 30 September 2026 (“Q1 27”) are unaudited. These results remain subject to audit. (2) Continuing operations exclude the results of the Wild Bush Luxury business unit following completion of its divestment on 1 M ay 2026. (3) EBITDA and EBIT are financial measures which are not prescribed by Australian Accounting Standards (“AAS”). EBITDA represent s the profit under AAS adjusted for impairment, interest, income taxes, depreciation and amortization. EBIT represents the profit under AAS adjusted for impairment, interest and income taxes. Underlying EBITDA and Underlying EBIT rep resents EBITDA and EBIT adjusted for acquisition-related transaction costs, restructure costs and other significant items, and net gains and losses on the sale of assets. Refer to Note 2 to the FY26 audited financial statements f or a reconciliation between statutory and Underlying EBITDA and Underlying EBIT. Unaudited U/EBITDA and Underlying EBIT are post AASB 16. (4) PCP = prior corresponding period (Q1 FY26) Q1 27 COMMENTARY • An overall positive start to the financial year with the Group reporting unaudited revenue and underlying earnings growth. • The Group reported a stronger performance in September, which followed more weather-impacted trading in August after a solid start in July. • Volume performance varied across sites due to differing impacts of weather, international customer visitation trends and domestic consumer sentiment. • Both Skydiving and Adventure Experiences segments reported revenue growth, with underlying earnings growth driven by the Skydiving segment. • Modest margin improvement for the Group was driven by improved operating leverage of the Skydiving segment with higher revenues/volumes, which offset some margin pressures in the Adventure Experiences segment. • Further progress made on the negotiations with Inflite Group with an update to be provided at the Experience Co AGM on 18 November 2026. OCTOBER UPDATE • Strong performance during Golden Week trading period recorded by both Skydive Australia and Skydive New Zealand. • Reef Unlimited recorded strong bookings during Golden Week period but trading being impacted by regional visitation levels. • Treetops Adventure volumes remain softer than PCP(4) to date with management focus on yield. $ MILLION Q1 27 Q1 26 Change % SKYDIVING 13.2 12.1 9% ADVENTURE EXPERIENCES 19.6 18.8 4% SALES REVENUE 32.8 30.9 6% UNDERLYING EBITDA(3) 4.8 4.0 20% UNDERLYING EBIT(3) 1.7 1.2 37% 107% 97% 99% 0% 20% 40% 60% 80% 100% 120% Skydiving Reef Unlimited Treetops % of PCP Q1 27 VOLUME as % of PCP(4)
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SKYDIVING 4 SKYDIVING REVENUE(1) SKYDIVING AUSTRALIA & NEW ZEALAND Strongest Q1 tandem volume in four years, revenue +9% vs. PCP(2) EXPERIENCE CO LIMITED | Q1 27 TRADING UPDATE | OCTOBER 2026 NOTES: (1) Financial results for quarter ending 30 September 2026 (“Q1 27”) are unaudited. These results remain subject to audit. (2) PCP = prior corresponding period (Q1 FY26) $ MILLION Q1 27 Q1 26 Change % REVENUE 13.2 12.1 9% 0.0 10.0 20.0 30.0 40.0 Q1 Q2 Q3 Q4 TANDEM PAX (000s) FY24: 114k PAX FY25: 119k PAX FY26: 117k PAX Q1 FY27 Q1 27 COMMENTARY • Q1 is a seasonally lower volume quarter for the Skydiving segment. • Revenue growth vs. PCP(2) reported in both countries, with total tandem volume up +7% vs. PCP(2). • Skydive Australia revenue growth of +12% vs. PCP(2), driven by volume growth of +7% and improved third-party maintenance and aircraft cross-hire revenue for Performance Aviation. • Volume growth at drop zones in NSW, VIC and SEQ offset softer trading for Tropical North Queensland drop zones. Skydive Australia total bookings were ahead of PCP(2) in each month of the quarter. • Skydive New Zealand revenue growth of +4% vs. PCP(2) on volume growth of +7%. Weather-impacted trading in August, with both drop zones unable to operate for much of the second half of the month, was offset by a strong September. • Skydive New Zealand booking levels remain ahead of PCP(2) at both drop zones. • Intractable Bargaining Determination hearing with Australian Workers Union and Skydive Australia scheduled for early November. Binding decision due to be handed down by February 2027.
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ADVENTURE EXPERIENCES 5 ADVENTURE EXPERIENCES REVENUE(1)(3) REEF UNLIMITED 0.0 20.0 40.0 60.0 80.0 100.0 120.0 Q1 Q2 Q3 Q4 PAX (000s) FY24: 392k PAX FY25: 397k PAX FY26: 396k PAX Q1 FY27 TREETOPS ADVENTURE Revenue growth of +4% vs. PCP(2) driven by higher average revenue per customer across both business units EXPERIENCE CO LIMITED | Q1 27 TRADING UPDATE | OCTOBER 2026 NOTES: (1) Financial results for quarter ending 30 September 2026 (“Q1 27”) are unaudited. These results remain subject to audit. (2) PCP = prior corresponding period (Q1 FY26) (3) Continuing operations exclude the results of the Wild Bush Luxury business unit following completion of its divestment on 1 May 2026. $ MILLION Q1 27 Q1 26 Change % REVENUE 19.6 18.8 4% 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 Q1 Q2 Q3 Q4 PAX (000s) FY24: 251k PAX FY25: 252k PAX FY26: 261k PAX Q1 FY27 Q1 27 COMMENTARY • Reef Unlimited revenue growth of +2% vs. PCP(2) driven by: – Average revenue per customer growth of +4% vs. PCP(2), reflecting historical rate increases and a stronger contribution from the Reef Magic pontoon experience. – Volume decrease of -3% vs. PCP(2), reflecting generally less favourable weather conditions and softer Cairns/Port Douglas regional visitation. • Treetops Adventure revenue growth of +13% vs. PCP(2), driven by: – Average revenue per customer growth of +14% vs. PCP(2), reflecting historical rate increases, site mix and the continued focus on improving ancillary customer spend. – Volume decrease of -1% vs. PCP(2), driven by mixed performance across sites and weather impacts. – West Beach Adventure (Adelaide) was integrated within Treetops Adventure during the quarter following its acquisition on 30 June 2026.
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