Filed by Vacasa, Inc. pursuant to

Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934

Subject Company: TPG Pace Solutions Corp.

Commission File No.: 001-40319

Vacation rental company Vacasa to go public this fall via SPAC merger with TPG Pace Solutions

CNBC

By Seema Mody

July 29, 2021

The Covid delta variant is not stopping travel company Vacasa from going public.

Riding the vacation rental boom, Vacasa is set to go public this fall through a merger with TPG Pace Solutions, a special purpose acquisition company. The $400 million transaction would give the Portland, Oregon based company a $4.5 billion valuation.

Vacasa CEO Matt Roberts tells CNBC no existing investors will sell shares.

The timing of Vacasa’s debut comes as the broader travel and hospitality industry is assessing the impact of the delta variant on travel bookings and whether customers will cancel future plans.

So far, Roberts says he has not seen any impact thus far on bookings. If anything, demand has accelerated in recent weeks as more travelers enjoy the summer. Roberts is projecting $1.6 billion in gross bookings for 2021.

“The industry in total is experiencing significant demand such that occupancy rates are super high,” said Roberts.

An increase in homeownership and a surge in vacation rental bookings have helped Vacasa’s business thrive over the last year.

In addition to listing properties on its site, Vacasa offers thousands of clients access to property management tools and booking solutions to manage short-term rentals.

“There is a new cohort of guests who understand that you can actually get the hospitality you get at a hotel… in a home,” said Roberts.

Vacasa partners with rental sites Airbnb, VRBO and Booking.com.

CNBC reported in April that Vacasa was considering going public via SPAC and held meetings with Social Capital’s Chamath Palihapitiya and Altimeter Capital’s Brad Gerstner.

Vacasa ultimately picked TPG, which was an early investor in Airbnb, Uber, Norwegian Cruise Lines among other travel and transportation companies. TPG Pace Group alone has sponsored seven SPACs.

“Part of the reason to do this transaction is to get more capital on the balance sheet, to increase our lead. And that means getting more homes and to continue to build out the tech stack to drive more product differentiation,” said Karl Peterson, non-executive chairman and director of TPG Pace Solutions and managing partner of TPG Pace Group.

Roberts says Airbnb’s IPO in late 2020 put the vacation rental industry on the map and motivated him to start pursuing options for Vacasa.

“Airbnb was a great mark for the industry and validated the alternative accommodation space,” added Roberts.

Roberts plans to use the funds raised to more than triple his investments in technology and his staff to better serve customers.

While the highly contagious variant may not be affecting Vacasa’s business as of now, Peterson is keeping a close eye on the effect it could have on the economy.

“The biggest headwind is continued confidence in the reopening of the travel economy… you’d like to see us all moving forward, not backwards with respect to mask mandates and as vaccination rates continue to rise here.”

Vacasa’s existing investors include Silver Lake, Riverwood Capital and NewSpring. The company will list under the symbol “VCSA.”

Additional Information and Where to Find It

This communication is being made in connection with a proposed business combination involving Vacasa Holdings LLC (“Vacasa”) and TPG Pace Solutions Corp. (“TPG Pace Solutions”). A full description of the terms of the proposed business combination will be provided in a registration statement on Form S-4 to be filed with the Securities and Exchange Commission (the “SEC”) by Vacasa, Inc. (“NewCo”) that will include a proxy statement for the shareholders of TPG Pace Solutions that also constitutes a prospectus of NewCo. TPG Pace Solutions urges investors, shareholders and other interested persons to read, when available, the preliminary proxy statement/prospectus as well as other documents filed with the SEC because these documents will contain important information about TPG Pace Solutions, Vacasa, NewCo and the business combination. After the registration statement is declared effective, the definitive proxy statement/prospectus to be included in the registration statement will be mailed to shareholders of TPG Pace Solutions as of a record date to be established for voting on the proposed business combination. Shareholders will also be able to obtain a copy of the proxy statement/prospectus, without charge, by directing a request to: TPG Pace Solutions, 301 Commerce St., Suite 3300, Fort Worth, TX 76102. The preliminary and definitive proxy statement/prospectus to be included in the registration statement, once available, can also be obtained, without charge, at the SEC’s website (www.sec.gov).

Participants in Solicitation

TPG Pace Solutions, NewCo, Vacasa and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of TPG Pace Solutions in connection with the proposed business combination. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of certain of TPG Pace Solutions’ executive officers and directors in the solicitation by reading TPG Pace Solutions’ initial public offering prospectus, which was filed with the SEC on April 9, 2021 and the proxy statement/prospectus and other relevant materials filed with the SEC in connection with the business combination when they become available. Other information concerning the interests of participants in the solicitation, which may, in some cases, be different than those of their shareholders generally, will be set forth in the proxy statement/prospectus relating to the business combination when it becomes available.

Forward-Looking Statements

Certain statements made in this communication are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from TPG Pace Solutions’ or Vacasa’s expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement for the business combination between TPG Pace Solutions and Vacasa (the “Business Combination Agreement”); (ii) the ability of the combined company to meet listing standards following the transaction and in connection with the consummation thereof; (iii) the inability to complete the transactions contemplated by the Business Combination Agreement due to the failure to obtain approval of the shareholders of TPG Pace Solutions or other reasons; (iv) the failure to meet the minimum cash requirements of the Business Combination Agreement due to TPG Pace Solutions shareholders’ redemptions and one or more defaults by the investors in the private placement that is being undertaken in connection with the business combination, and failing to obtain replacement financing; (v) costs related to the proposed transaction; (vi) changes in applicable laws or regulations; (vii) the ability of the combined company to meet its financial and strategic goals, due to, among other things, competition, the ability of the combined company to pursue a growth strategy and manage growth profitability; (viii) the possibility that the combined company may be adversely affected by other economic, business, and/or competitive factors; (ix) the continuing or new effects of the COVID-19 pandemic on TPG Pace Solutions and Vacasa and their ability to consummate the transaction; and (x) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the SEC by TPG Pace Solutions.

Additional information concerning these and other factors that may impact TPG Pace Solutions’ expectations and projections can be found in TPG Pace Solutions’ periodic filings with the SEC, and in the preliminary and definitive proxy statements to be filed by TPG Pace Solutions with the SEC regarding the transaction when available. TPG Pace Solutions’ SEC filings are available publicly on the SEC's website at www.sec.gov.

The foregoing list of factors is not exclusive. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Neither TPG Pace Solutions nor Vacasa undertakes or accepts any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law.

No Offer or Solicitation

This press release does not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. This press release also does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of Securities Act of 1933, as amended, or an exemption therefrom.

No Assurances

There can be no assurance that the transactions described herein will be completed, nor can there be any assurance, if such transactions are completed, that the potential benefits of combining the companies will be realized. The description of the transactions contained herein is only a summary and is qualified in its entirety by reference to the definitive agreements relating to the transactions, copies of which will be filed by TPG Pace Solutions with the SEC as an exhibit to a Current Report on Form 8-K.