THL - BGH Consortium confidentiality agreement executed

Friday 3rd July 2026

The Board of Tourism Holdings Limited (NZX: THL , ASX:THL, “thl” or “the Company”) provides a further update following the 12 June 2026 announcement in which the Board agreed to grant due diligence access to the consortium of BGH Capital (BGH) and the family interests of Luke and Karl Trouchet (the Consortium), subject to entry into an appropriate confidentiality agreement.

The Company advises that it has now executed a confidentiality agreement with the Consortium. The Consortium will now be granted access to commence its due diligence investigations in respect of a potential acquisition of thl at an indicative all-cash offer price of no less than NZ$3.10 per share.

The granting of due diligence access does not constitute a recommendation by the Board, and no decision has been made to proceed with any transaction. There is no certainty that the Consortium’s revised non-binding indicative offer announced on 29 May 2026, or the additional non-binding indicative offer from the strategic buyer announced on 25 June 2026, will result in a transaction. thl shareholders do not need to take any action at this time. The thl Board will continue to keep shareholders and the market informed of any material developments.

ENDS

NZX/ASX Release

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