Pursuit Attractions and Hospitality (PRSU) Investor presentation summary

Strategic positioning and business model

• Operates unique, experiential infrastructure in iconic, supply-constrained destinations across four countries, offering 17 sightseeing attractions and 29 distinctive lodges with integrated food, retail, and transportation services.

• Anchors perennial demand through destination-driven experiences, not reliant on economic cycles, with broad appeal and sustainable yield growth.

• Vertically integrated model captures value across the guest journey, driving strong economics, operating efficiencies, and repeatable growth.

• Differentiated culture and hospitality focus drive high guest satisfaction, employee engagement, and industry-leading Net Promoter Scores.

• Aligned with durable global travel trends, including experiences over things, outdoor adventure, wellness, and resilient leisure travel growth.

Financial performance and outlook

• Achieved $452M in 2025 revenue, with 57% from attractions and 40% from hospitality; 4.2M attraction visitors and 439K rooms sold.

• 2026 guidance targets $465M revenue and $123–$133M Adjusted EBITDA, excluding Flyover, with double-digit year-over-year growth and margin improvement.

• Vision 2030 targets: >$845M revenue, >$265M Adjusted EBITDA, and >30% margin, driven by organic growth and strategic acquisitions.

• Strong balance sheet with ~$170M liquidity, <1x pro forma net leverage, and $60M remaining share repurchase authorization.

• Seasonality concentrated in Q2 and Q3, with 79% of annual revenue earned during summer months.

Growth strategy and value creation

• Growth driven by continuous performance enhancement, organic investments in attractions and lodging, and strategic acquisitions with a 15%+ IRR hurdle rate.

• $300M+ organic growth capex planned for 2026–2030, expected to deliver >$40M AEBITDA by 2030 at <7x effective multiple.

• Recent acquisition of Tabacón in Costa Rica exemplifies disciplined, high-return expansion, with early operational improvements and future growth opportunities.

• Shareholder value enhanced through opportunistic share repurchases and efficient capital allocation.

• Proven track record: ~4x revenue and ~3x guest volume growth from 2015–2025, with a decade of double-digit CAGR.