Tourism Holdings Rentals (THL) Investor Presentation summary

Company overview and market position

• Operates as the largest commercial RV rental operator globally, with a fleet of 8,564 vehicles across Australia, New Zealand, North America, and UK & Ireland.

• Vertically integrated across RV manufacturing, rentals, and sales, leveraging scale and supplier relationships.

• Listed on NZX since 1986 and ASX since 2022, with a market capitalization of A$453 million as of November 2025.

• Achieved NZ$28.7 million in underlying net profit after tax and declared NZ$14.3 million in dividends for FY25.

Global footprint and operational highlights

• Operates 60 locations globally, with major rental fleets in Australia (2,586), New Zealand (2,449), North America (2,876), and UK (653).

• Offers RV rentals, new and ex-rental sales, manufacturing, and digital tourism apps in key markets.

• Franchise operations in Southern Africa and Japan.

Market trends and industry outlook

• International tourism is rebounding post-COVID, driving rental fleet growth after prior contraction.

• RV rentals show strong forward revenue growth (~20% YoY) in New Zealand, Australia, and Canada, while US rentals face headwinds from declining international travel sentiment.

• Long-term RV industry outlook is positive, with growing interest from younger generations and an aging global population.

• Leisure travel market projected to triple in value by 2040, with trends favoring unique, sustainable, and independent travel experiences.