Page 1

SEAWORLD ENTERTAINMENT . NEWS RELEASE SeaWorld Entertainment , Inc. Reports Second Quarter and First Six Months 2021 Results 8/5/2021 ORLANDO , Fla . , Aug. 5 , 2021 / PRNewswire / -- SeaWorld Entertainment , Inc. ( NYSE : SEAS ) , a leading theme park and entertainment company , today reported its financial results for the second quarter and first six months of fiscal year 2021. [ 1 ] Second Quarter 2021 Highlights • Attendance was 5.8 million guests , an increase of 5.5 million guests from the second quarter of 2020 . Compared to the second quarter of 2019 , attendance declined by 0.7 million guests or 10.1 % . • Total revenue was a record $ 439.8 million , an increase of $ 421.8 million from the second quarter of 2020 . Compared to the second quarter of 2019 , total revenue increased by $ 33.8 million or 8.3 % . • Net income was a record $ 127.8 million , an increase of $ 258.8 million from the second quarter of 2020 . Compared to the second quarter of 2019 , net income increased by $ 75.1 million or 142.7 % . • Adjusted EBITDA [ 2 ] was a record $ 218.8 million , an increase of $ 272.7 million from the second quarter of 2020. Compared to the second quarter of 2019 , Adjusted EBITDA increased by $ 69.1 million or 46.2 % . • Total revenue per capita increased 14.2 % to a record $ 75.71 from the second quarter of 2020. Admission per capita increased 16.5 % to $ 41.87 while in - park per capita spending increased 11.6 % to $ 33.84 from the second quarter of 2020. Compared to the second quarter of 2019 , total revenue per capita increased 20.5 % , admission per capita increased 18.8 % , while in - park per capita spending increased 22.7 % . First Six Months 2021 Highlights • Attendance was 8.0 million guests , an increase of 5.4 million guests from the first six months of 2020 . Compared to the first six months of 2019 , attendance declined by 1.8 million guests or 18.1 % . • Total revenue was $ 611.7 million , an increase of $ 440.1 million from the first six months of 2020. Compared to the first six months of 2019 , total revenue declined by $ 14.9 million or 2.4 % . • Net income was a record $ 82.9 million , an increase of $ 270.4 million from the first six months of 2020 . Compared to the first six months of 2019 , net income increased by $ 67.2 million . • Adjusted EBITDA was a record $ 244.0 million , an increase of $ 328.7 million from the first six months of 2020 . Compared to the first six months of 2019 , Adjusted EBITDA increased by $ 77.9 million or 46.9 % . • Total revenue per capita increased 15.1 % to a record $ 76.24 from the first six months of 2020. Admission per capita increased 9.2 % to $ 42.25 while in - park per capita spending increased 23.5 % to $ 33.99 from the first six months of 2020. Compared to the first six months of 2019 , total revenue per capita increased 19.3 % , admission per capita increased 16.1 % , while in - park per capita spending increased 23.5 % . Other Highlights • As of June 30 , 2021 , the Company's total available liquidity was $ 927.8 million , including $ 615.8 million of cash and cash equivalents on its balance sheet and $ 312.0 million available on its revolving credit facility . • Cash flow from operations was a record $ 229.7 million and $ 248.1 million for the three and six months ended June 30 , 2021 , respectively . Free Cash Flow [ 2 ] was a record $ 200.0 million and $ 203.1 million for the three and six months ended June 30 , 2021 , respectively . 1