EX-99.1
Exhibit 99.1 INVESTOR PRESENTATION SEPTEMBER 2021Exhibit 99.1 INVESTOR
PRESENTATION SEPTEMBER 2021
FORWARD-LOOKING STATEMENTS This presentation contains a number of
forward-• travel industry disruptions;• our exposure to labor cost increases and work looking statements. Words, and variations of words, stoppages related to unionized employees; • our ability to successfully integrate and achieve
such as “will,” “may,” “expect,” “would,” “could,” “might,” established financial and strategic goals from• liabilities relating to prior and discontinued
“intend,” “plan,” “believe,” “estimate,” “anticipate,” “deliver,” acquisitions; operations; “seek,” “aim,” “potential,” “target,”
“outlook,” and similar • our dependence on large exhibition event clients;• adverse effects of show rotation on our periodic expressions are intended to identify our forward-looking results and operating margins; statements.
Similarly, statements that describe our • the importance of key members of our account business strategy, outlook, objectives, plans, initiatives, teams to our business relationships;• our exposure to currency exchange rate fluctuations;
intentions or goals also are forward looking statements. • the competitive nature of the industries in which we• our exposure to cybersecurity attacks and threats; These forward-looking statements are not historical facts operate; and
are subject to a host of risks and uncertainties, many • compliance with laws governing the storage, of which are beyond our control, which could cause actual • unanticipated delays and cost overruns of our collection, handling, and
transfer of personal data results to differ materially from those in the forward- capital projects, and our ability to achieve and our exposure to legal claims and fines for data looking statements. established financial and strategic goals for such
breaches or improper handling of such data; and projects; Important factors that could cause actual results to differ • changes affecting the London Inter-bank Offered materially from those described in our forward-looking • seasonality
of our businesses; Rate (“LIBOR”). statements include, but are not limited to, the following: • transportation disruptions and increases in For a more complete discussion of the risks and • the impact of the COVID-19 pandemic
on our transportation costs; uncertainties that may affect our business or financial financial condition, liquidity, and cash flow; results, please see Item 1A, “Risk Factors,” of our most • natural disasters, weather conditions,
and other recent annual report on Form 10-K filed with the SEC. We • our ability to anticipate and adjust for the impact of catastrophic events; disclaim and do not undertake any obligation to update or the COVID-19 pandemic on our businesses;
• our multi-employer pension plan funding revise any forward-looking statement in this presentation • general economic uncertainty in key global markets obligations; except as required by applicable law or regulation. and a worsening of
global economic conditions; 2FORWARD-LOOKING STATEMENTS This presentation contains a number of forward-• travel industry disruptions;• our exposure to labor cost increases and work looking statements. Words, and variations of words,
stoppages related to unionized employees; • our ability to successfully integrate and achieve such as “will,” “may,” “expect,” “would,” “could,” “might,” established
financial and strategic goals from• liabilities relating to prior and discontinued “intend,” “plan,” “believe,” “estimate,” “anticipate,” “deliver,” acquisitions;
operations; “seek,” “aim,” “potential,” “target,” “outlook,” and similar • our dependence on large exhibition event clients;• adverse effects of show rotation on our periodic
expressions are intended to identify our forward-looking results and operating margins; statements. Similarly, statements that describe our • the importance of key members of our account business strategy, outlook, objectives, plans,
initiatives, teams to our business relationships;• our exposure to currency exchange rate fluctuations; intentions or goals also are forward looking statements. • the competitive nature of the industries in which we• our exposure
to cybersecurity attacks and threats; These forward-looking statements are not historical facts operate; and are subject to a host of risks and uncertainties, many • compliance with laws governing the storage, of which are beyond our control,
which could cause actual • unanticipated delays and cost overruns of our collection, handling, and transfer of personal data results to differ materially from those in the forward- capital projects, and our ability to achieve and our exposure
to legal claims and fines for data looking statements. established financial and strategic goals for such breaches or improper handling of such data; and projects; Important factors that could cause actual results to differ • changes affecting
the London Inter-bank Offered materially from those described in our forward-looking • seasonality of our businesses; Rate (“LIBOR”). statements include, but are not limited to, the following: • transportation disruptions and
increases in For a more complete discussion of the risks and • the impact of the COVID-19 pandemic on our transportation costs; uncertainties that may affect our business or financial financial condition, liquidity, and cash flow; results,
please see Item 1A, “Risk Factors,” of our most • natural disasters, weather conditions, and other recent annual report on Form 10-K filed with the SEC. We • our ability to anticipate and adjust for the impact of catastrophic
events; disclaim and do not undertake any obligation to update or the COVID-19 pandemic on our businesses; • our multi-employer pension plan funding revise any forward-looking statement in this presentation • general economic uncertainty
in key global markets obligations; except as required by applicable law or regulation. and a worsening of global economic conditions; 2
NON-GAAP FINANCIAL MEASURES This document includes the presentation of
“Adjusted Segment EBITDA”, which is Adjusted Segment EBITDA is defined by management as net income attributable to supplemental to results presented under accounting principles generally accepted in the Viad before income (loss) from
discontinued operations, corporate activities, interest United States of America (“GAAP”) and may not be comparable to similarly titled expense and interest income, income taxes, segment depreciation and amortization, measures presented
by other companies. This non-GAAP measure should be considered segment acquisition-related costs, attraction start-up costs, restructuring charges, in addition to, but not as a substitute for, other similar measures reported in accordance impairment
losses, and the reduction/increase for income/loss attributable to non- with GAAP. redeemable and redeemable non-controlling interests. The use of this non-GAAP financial measure is limited, compared to the GAAP measure of Adjusted Segment EBITDA is
considered a useful operating metric, in addition to net net income attributable to Viad, because it does not consider a variety of items affecting income attributable to Viad, as potential variations arising from non-recurring integration
Viad’s consolidated financial performance as explained below. Because this non-GAAP costs, non-cash amortization and depreciation, and non-operational expenses/income are measure does not consider all items affecting Viad’s consolidated
financial performance, a eliminated, thus resulting in an additional measure considered to be indicative of Viad’s user of Viad’s financial information should consider net income attributable to Viad as an segment performance. Management
believes that the presentation of Adjusted Segment important measure of financial performance because it provides a more complete EBITDA provides useful information to investors regarding Viad’s results of operations for measure of the
Company’s performance. trending, analyzing and benchmarking the performance and value of Viad’s business. 3NON-GAAP FINANCIAL MEASURES This document includes the presentation of “Adjusted Segment EBITDA”, which is Adjusted
Segment EBITDA is defined by management as net income attributable to supplemental to results presented under accounting principles generally accepted in the Viad before income (loss) from discontinued operations, corporate activities, interest
United States of America (“GAAP”) and may not be comparable to similarly titled expense and interest income, income taxes, segment depreciation and amortization, measures presented by other companies. This non-GAAP measure should be
considered segment acquisition-related costs, attraction start-up costs, restructuring charges, in addition to, but not as a substitute for, other similar measures reported in accordance impairment losses, and the reduction/increase for income/loss
attributable to non- with GAAP. redeemable and redeemable non-controlling interests. The use of this non-GAAP financial measure is limited, compared to the GAAP measure of Adjusted Segment EBITDA is considered a useful operating metric, in addition
to net net income attributable to Viad, because it does not consider a variety of items affecting income attributable to Viad, as potential variations arising from non-recurring integration Viad’s consolidated financial performance as
explained below. Because this non-GAAP costs, non-cash amortization and depreciation, and non-operational expenses/income are measure does not consider all items affecting Viad’s consolidated financial performance, a eliminated, thus resulting
in an additional measure considered to be indicative of Viad’s user of Viad’s financial information should consider net income attributable to Viad as an segment performance. Management believes that the presentation of Adjusted Segment
important measure of financial performance because it provides a more complete EBITDA provides useful information to investors regarding Viad’s results of operations for measure of the Company’s performance. trending, analyzing and
benchmarking the performance and value of Viad’s business. 3
5 10 20 SUMMARY 33 APPENDIX 355 10 20 SUMMARY 33 APPENDIX 35
INVESTMENT HIGHLIGHTS ▪ High-quality businesses with leading
market positions in experiential leisure travel and experiential B2B events ▪ Track-record of creating significant shareholder value through strategic execution ▪ Strong liquidity position and financial flexibility to endure pandemic and
resume growth ▪ Capitalizing on pandemic disruption to strengthen leading market positions ▪ Experienced management team positioning company for post-COVID-19 success ▪ Significantly scale Pursuit ▪ Improve GES margin profile
Leading and Delivered Strong Opportunity to defensible strong growth liquidity and continue market positions from 2015 - 2019 financial flexibility investing for growth 5INVESTMENT HIGHLIGHTS ▪ High-quality businesses with leading market
positions in experiential leisure travel and experiential B2B events ▪ Track-record of creating significant shareholder value through strategic execution ▪ Strong liquidity position and financial flexibility to endure pandemic and resume
growth ▪ Capitalizing on pandemic disruption to strengthen leading market positions ▪ Experienced management team positioning company for post-COVID-19 success ▪ Significantly scale Pursuit ▪ Improve GES margin profile
Leading and Delivered Strong Opportunity to defensible strong growth liquidity and continue market positions from 2015 - 2019 financial flexibility investing for growth 5
THE PREMIERE EXPERIENTIAL SERVICES COMPANY Vertically-integrated
attractions and hospitality company in iconic A global, full-service live events company offering a destinations with a collection of world-class attractions, distinctive comprehensive range of services for exhibitions/conferences, brand lodges, and
sightseeing tours experiences, and venue services 1 PORTFOLIO OF ICONIC AND ENGAGING EXPERIENCES GLOBAL LEADER IN LIVE EVENTS 75+ 25 2 150k+ 8 4,000+ Countries with Distinctive FlyOver Flying Exhibitors Served Attractions Global Events Execution
Lodges Ride Experiences Annually 1.8M+ visitors Capability 380,000+ Nights 600K+ Visitors 4% $223M $81M 19% $1.1B $72M 2015-2019 2019 Pursuit 2019 Pursuit 2015-2019 Pursuit 2019 GES 2019 GES GES Revenue Revenue Adjusted EBITDA Revenue CAGR Revenue
Adjusted EBITDA CAGR 6 6 1 Number of experiences, visitor counts, and room nights represent FY'19, and therefore do not include one new lodge in Jasper (est opening FY'22), FlyOver Las Vegas (opened Sep '21), and FlyOver Canada Toronto (est opening
FY'24).THE PREMIERE EXPERIENTIAL SERVICES COMPANY Vertically-integrated attractions and hospitality company in iconic A global, full-service live events company offering a destinations with a collection of world-class attractions, distinctive
comprehensive range of services for exhibitions/conferences, brand lodges, and sightseeing tours experiences, and venue services 1 PORTFOLIO OF ICONIC AND ENGAGING EXPERIENCES GLOBAL LEADER IN LIVE EVENTS 75+ 25 2 150k+ 8 4,000+ Countries with
Distinctive FlyOver Flying Exhibitors Served Attractions Global Events Execution Lodges Ride Experiences Annually 1.8M+ visitors Capability 380,000+ Nights 600K+ Visitors 4% $223M $81M 19% $1.1B $72M 2015-2019 2019 Pursuit 2019 Pursuit 2015-2019
Pursuit 2019 GES 2019 GES GES Revenue Revenue Adjusted EBITDA Revenue CAGR Revenue Adjusted EBITDA CAGR 6 6 1 Number of experiences, visitor counts, and room nights represent FY'19, and therefore do not include one new lodge in Jasper (est opening
FY'22), FlyOver Las Vegas (opened Sep '21), and FlyOver Canada Toronto (est opening FY'24).
LONG-TERM FOCUSED ON MAXIMIZING GOALS SHAREHOLDER VALUE Smart allocation
of capital Continue to drive growth Drive increased profitability through Refresh, Build, Buy and strong cash flow through Continually evaluate and take advantage of more flexible cost structure options to maximize economic disruption and and focus
on higher-margin shareholder value opportunity in the space clients/services 7LONG-TERM FOCUSED ON MAXIMIZING GOALS SHAREHOLDER VALUE Smart allocation of capital Continue to drive growth Drive increased profitability through Refresh, Build, Buy and
strong cash flow through Continually evaluate and take advantage of more flexible cost structure options to maximize economic disruption and and focus on higher-margin shareholder value opportunity in the space clients/services 7
VIAD’S TRACK RECORD OF 165.7% CREATING SHAREHOLDER VALUE TSR
2015-2019 CASH FROM OPERATIONS $472 70% CASH CONVERSION MILLION S&P SmallCap600 57.4% (1) IN GROWTH INVESTMENTS SINCE 2015 $367 15% MINIMUM IRR HURDLE MILLION Russell 2000 48.4% (1) 2019 EBITDA FROM GROWTH INVESTMENTS $45.5 14% EBITDA CAGR
2015-2019 MILLION 2015 2016 2017 2018 2019 8 1 Includes acquisitions at GES & Pursuit and major growth projects that were owned/operated by Pursuit for the majority of the 2019 season; does not include investments for projects currently in
development or opened toward the end of the 2019 season.VIAD’S TRACK RECORD OF 165.7% CREATING SHAREHOLDER VALUE TSR 2015-2019 CASH FROM OPERATIONS $472 70% CASH CONVERSION MILLION S&P SmallCap600 57.4% (1) IN GROWTH INVESTMENTS SINCE 2015
$367 15% MINIMUM IRR HURDLE MILLION Russell 2000 48.4% (1) 2019 EBITDA FROM GROWTH INVESTMENTS $45.5 14% EBITDA CAGR 2015-2019 MILLION 2015 2016 2017 2018 2019 8 1 Includes acquisitions at GES & Pursuit and major growth projects that were
owned/operated by Pursuit for the majority of the 2019 season; does not include investments for projects currently in development or opened toward the end of the 2019 season.
OUR RECOVERY IS UNDERWAY WELL-POSITIONED TO EMERGE STRONGER ▪
Leisure travel and in-person events are beginning to recover as vaccination rates increase, pandemic-related restrictions lessen, and people feel more comfortable traveling and gathering ▪ We are positioned to win the recovery and emerge
stronger than before, with our growth investments, market share gains, and permanent EBITDA expected to return changes to our cost structure to NEAR 2019 LEVELS BY 2022 ▪ We expect the recovery in leisure travel and our new Pursuit attractions
and SURPASS 2019 LEVELS BY 2023 to help offset the slower recovery in business travel at GES + Substantial recovery in leisure travel by 2022 + + New experiences opened at Pursuit – Sky Lagoon (opened May + 2021), Golden Skybridge (opened June
2021), FlyOver Las Vegas (opened Sep 2021), and new 88-room Jasper hotel (est. opening 2022) + Recovery of in-person events beginning 2H’21 + Note: EBITDA refers to Adjusted Segment EBITDA. 9OUR RECOVERY IS UNDERWAY WELL-POSITIONED TO EMERGE
STRONGER ▪ Leisure travel and in-person events are beginning to recover as vaccination rates increase, pandemic-related restrictions lessen, and people feel more comfortable traveling and gathering ▪ We are positioned to win the recovery
and emerge stronger than before, with our growth investments, market share gains, and permanent EBITDA expected to return changes to our cost structure to NEAR 2019 LEVELS BY 2022 ▪ We expect the recovery in leisure travel and our new Pursuit
attractions and SURPASS 2019 LEVELS BY 2023 to help offset the slower recovery in business travel at GES + Substantial recovery in leisure travel by 2022 + + New experiences opened at Pursuit – Sky Lagoon (opened May + 2021), Golden Skybridge
(opened June 2021), FlyOver Las Vegas (opened Sep 2021), and new 88-room Jasper hotel (est. opening 2022) + Recovery of in-person events beginning 2H’21 + Note: EBITDA refers to Adjusted Segment EBITDA. 9
PURSUIT IS A GLOBAL ATTRACTIONS & HOSPITALITY COMPANY ATTRACTIONS
LODGING F&B, RETAIL & TRANSPORTATION 8 World-Class Attractions 25 owned and operated welcomed 2.4M visitors in 2019 properties with over 380,000 36 Food & Beverage room nights sold in 2019 and 32 Retail Businesses 3 new attractions
online in 2021 Integrated within our attractions and lodging properties 11
INSPIRING, UNFORGETTABLE EXPERIENCES OUR 12 ATTRACTIONS WILL WELCOME
OVER 5 MILLION VISITORS ANNUALLY L A K E K E N A I M A L I G N E F L Y O V E R C O L U M B I A B A N F F G O L D E N F L Y O V E R F L Y O V E R F L Y O V E R G L A C I E R S K Y M I N N E W A N K A F J O R D S L A K E G O N D O L A S K Y B R I D G
E L A S V E G A S C A N A D A I C E F I E L D L A G O O N C A N A D A I C E L A N D A D V E N T U R E C R U I S E T O U R S C R U I S E T O R O N T O S K Y W A L K ~ 356,000 ~96,000 ~76,000 ~ 10 7,00 0 ~439,000 ~736,000 ~700,000 ~200,000 ~539,000
~300,000 ~800,000 ~900,000 Visitors Visitors Visitors Visitors Visitors Visitors Visitors (est) Visitors (est) Visitors Visitors (est) Visitors (est) Visitors (est) Opened May Opened Jun Opened Aug Opened Sep Opening 2021 2021 2019 2021 2024 (est)
12 Visitation in 2019, except where estimates are noted for new experiences coming online from Aug 2019 forward. These estimates represent management’s expectations for approximate run-rate visitation at maturity.INSPIRING, UNFORGETTABLE
EXPERIENCES OUR 12 ATTRACTIONS WILL WELCOME OVER 5 MILLION VISITORS ANNUALLY L A K E K E N A I M A L I G N E F L Y O V E R C O L U M B I A B A N F F G O L D E N F L Y O V E R F L Y O V E R F L Y O V E R G L A C I E R S K Y M I N N E W A N K A F J O
R D S L A K E G O N D O L A S K Y B R I D G E L A S V E G A S C A N A D A I C E F I E L D L A G O O N C A N A D A I C E L A N D A D V E N T U R E C R U I S E T O U R S C R U I S E T O R O N T O S K Y W A L K ~ 356,000 ~96,000 ~76,000 ~ 10 7,00 0
~439,000 ~736,000 ~700,000 ~200,000 ~539,000 ~300,000 ~800,000 ~900,000 Visitors Visitors Visitors Visitors Visitors Visitors Visitors (est) Visitors (est) Visitors Visitors (est) Visitors (est) Visitors (est) Opened May Opened Jun Opened Aug Opened
Sep Opening 2021 2021 2019 2021 2024 (est) 12 Visitation in 2019, except where estimates are noted for new experiences coming online from Aug 2019 forward. These estimates represent management’s expectations for approximate run-rate visitation
at maturity.
INSPIRING, UNFORGETTABLE EXPERIENCES OUR 25 LODGING PROPERTIES FILL
OVER 380,000 ROOM NIGHTS ANNUALLY BANFF | JASPER GLACIER | WATERTON DENALI | KENAI FJORDS Elk + Avenue Hotel 164 rooms Glacier Park Lodge* 162 rooms Windsong Lodge* 216 rooms Sawridge Inn and Conference Centre 152 rooms Grouse Mountain Lodge 145
rooms Talkeetna Alaskan Lodge* 212 rooms Lobstick Lodge 139 rooms St. Mary Village* 116 rooms Denali Cabins* 46 rooms Mount Royal Hotel 133 rooms Prince of Wales Hotel* 86 rooms Denali Backcountry Lodge* 42 rooms Chateau Jasper Hotel 119 rooms Apgar
Village Lodge & Cabins* 48 rooms Kenai Fjords Wilderness Lodge* 8 rooms The Crimson Hotel 99 rooms West Glacier Village* 32 rooms 524 rooms 1 78 Connaught Drive (est opening 2022) 88 rooms Glacier Basecamp Lodge 32 rooms 1 Marmot Lodge 78 rooms
Belton Chalet* 27 rooms Pyramid Lake Resort 62 rooms Motel Lake McDonald* 27 rooms Pocahontas Cabins 56 rooms West Glacier RV Park and Cabins* 20 rooms Glacier View Lodge* 32 rooms 695 rooms 1,122 rooms 13 1. Marmot Lodge currently has 107 guest
rooms, 29 of which are expected to be converted to staff accommodation when the 78 Connaught property comes online. * Denotes a property that operates seasonally (generally closed from October - April)INSPIRING, UNFORGETTABLE EXPERIENCES OUR 25
LODGING PROPERTIES FILL OVER 380,000 ROOM NIGHTS ANNUALLY BANFF | JASPER GLACIER | WATERTON DENALI | KENAI FJORDS Elk + Avenue Hotel 164 rooms Glacier Park Lodge* 162 rooms Windsong Lodge* 216 rooms Sawridge Inn and Conference Centre 152 rooms
Grouse Mountain Lodge 145 rooms Talkeetna Alaskan Lodge* 212 rooms Lobstick Lodge 139 rooms St. Mary Village* 116 rooms Denali Cabins* 46 rooms Mount Royal Hotel 133 rooms Prince of Wales Hotel* 86 rooms Denali Backcountry Lodge* 42 rooms Chateau
Jasper Hotel 119 rooms Apgar Village Lodge & Cabins* 48 rooms Kenai Fjords Wilderness Lodge* 8 rooms The Crimson Hotel 99 rooms West Glacier Village* 32 rooms 524 rooms 1 78 Connaught Drive (est opening 2022) 88 rooms Glacier Basecamp Lodge 32
rooms 1 Marmot Lodge 78 rooms Belton Chalet* 27 rooms Pyramid Lake Resort 62 rooms Motel Lake McDonald* 27 rooms Pocahontas Cabins 56 rooms West Glacier RV Park and Cabins* 20 rooms Glacier View Lodge* 32 rooms 695 rooms 1,122 rooms 13 1. Marmot
Lodge currently has 107 guest rooms, 29 of which are expected to be converted to staff accommodation when the 78 Connaught property comes online. * Denotes a property that operates seasonally (generally closed from October - April)
PURSUIT OPERATES IN ICONIC GLOBAL LOCATIONS VANCOUVER BANFF NATIONAL
PARK GLACIER NATIONAL PARK DENALI NATIONAL PARK LAS VEGAS REYKJAVIK ~ 1 1 M V I S I TO R S JASPER NATIONAL PARK WATERTON LAKES KENAI FJORDS NATIONAL ~ 4 0 M V I S I TO R S ~ 2 M V I S I TO R S NATIONAL PARK PARK ~ 6 . 5 M V I S I TO R S ~ 3 . 5 M V
I S I TO R S ~ 1 M V I S I TO R S 14 Market visitation statistic sources: Tourism Vancouver (2019); Parks Canada (2019); U.S. National Park Service (2019); Icelandic Tourist Board (2019); Las Vegas Convention and Visitors Authority (Las Vegas
2019)PURSUIT OPERATES IN ICONIC GLOBAL LOCATIONS VANCOUVER BANFF NATIONAL PARK GLACIER NATIONAL PARK DENALI NATIONAL PARK LAS VEGAS REYKJAVIK ~ 1 1 M V I S I TO R S JASPER NATIONAL PARK WATERTON LAKES KENAI FJORDS NATIONAL ~ 4 0 M V I S I TO R S ~ 2
M V I S I TO R S NATIONAL PARK PARK ~ 6 . 5 M V I S I TO R S ~ 3 . 5 M V I S I TO R S ~ 1 M V I S I TO R S 14 Market visitation statistic sources: Tourism Vancouver (2019); Parks Canada (2019); U.S. National Park Service (2019); Icelandic Tourist
Board (2019); Las Vegas Convention and Visitors Authority (Las Vegas 2019)
TWO SCALABLE PLATFORMS TO DELIVER GROWTH I CO N I C LO C AT I O N S F
LYO V E R A collection of world-class attractions, A collection of flight ride experiences in vibrant distinctive lodges and engaging tours in cities that showcase awe-inspiring sights in a renowned global travel locations way that visitors have
never experienced before • Strong focus on attractions• Long haul destination travelers • Iconic, unforgettable, inspiring locations• Visually-iconic country or location • Balanced geographies and seasons• Urban
locations with strong footfall Perennial demand High barriers to entry Attractive margins High-quality, bucket list experience Strong ease of doing business 15TWO SCALABLE PLATFORMS TO DELIVER GROWTH I CO N I C LO C AT I O N S F LYO V E R A
collection of world-class attractions, A collection of flight ride experiences in vibrant distinctive lodges and engaging tours in cities that showcase awe-inspiring sights in a renowned global travel locations way that visitors have never
experienced before • Strong focus on attractions• Long haul destination travelers • Iconic, unforgettable, inspiring locations• Visually-iconic country or location • Balanced geographies and seasons• Urban
locations with strong footfall Perennial demand High barriers to entry Attractive margins High-quality, bucket list experience Strong ease of doing business 15
PURSUIT HAS A COMPELLING AND PROVEN GROWTH STRATEGY B A N F F G O N D O
L A To optimize guest experience, market I N V E S T M E N T : $ 2 2 M R E F R E S H position and maximize returns E B I T D A : $ 1 1 M G L A C I E R S K Y W A L K To create new guest experiences and revenue I N V E S T M E N T : $ 2 0 M B U I L D
E B I T D A : $ 7 M streams with economies of scale and scope A L A S K A C O L L E C T I O N Strategic assets that drive guest experience, economies of I N V E S T M E N T : $60 M B U Y scale and scope, improving financial performance E B I T D A :
$ 1 0 M 16 Note: 2019 EBITDA (incremental for Banff Gondola as compared to trailing twelve months prior to renovation)PURSUIT HAS A COMPELLING AND PROVEN GROWTH STRATEGY B A N F F G O N D O L A To optimize guest experience, market I N V E S T M E N
T : $ 2 2 M R E F R E S H position and maximize returns E B I T D A : $ 1 1 M G L A C I E R S K Y W A L K To create new guest experiences and revenue I N V E S T M E N T : $ 2 0 M B U I L D E B I T D A : $ 7 M streams with economies of scale and
scope A L A S K A C O L L E C T I O N Strategic assets that drive guest experience, economies of I N V E S T M E N T : $60 M B U Y scale and scope, improving financial performance E B I T D A : $ 1 0 M 16 Note: 2019 EBITDA (incremental for Banff
Gondola as compared to trailing twelve months prior to renovation)
PURSUIT HAS DELIVERED PROFITABLE GROWTH Pursuit has Doubled Revenue
4-YEAR and Adjusted EBITDA in 48 months COMPOUNDED 223 REVENUE ($M) ANNUAL GROWTH 185 174 RATES 153 REVENUE 112 19% 81 EBITDA ($M) 69 66 50 Adjusted 36 EBITDA 23% 2015 2016 2017 2018 2019 >30% EBITDA MARGIN 17PURSUIT HAS DELIVERED PROFITABLE
GROWTH Pursuit has Doubled Revenue 4-YEAR and Adjusted EBITDA in 48 months COMPOUNDED 223 REVENUE ($M) ANNUAL GROWTH 185 174 RATES 153 REVENUE 112 19% 81 EBITDA ($M) 69 66 50 Adjusted 36 EBITDA 23% 2015 2016 2017 2018 2019 >30% EBITDA MARGIN
17
THE RECOVERY IS UNDERWAY AT PURSUIT SEQUENTIAL PERIOD REVENUE
IMPROVEMENTS EXPECTED TO CONTINUE WITH STRONG AND IMPROVING BOOKINGS 1 Same-Store Revenue vs. Comparable Period in 2019 is Improving % of 2019 ▪ Alaska and Glacier Park Collections are tracking 84% 81% in-line or ahead of 2019 driven by the
strength 76% of the domestic leisure travel demand 53% ▪ Banff Jasper Collection is behind 2019 due to the Canadian border closure, which was lifted 32% th on August 9 for fully vaccinated Americans th and September 7 for other fully
vaccinated 7% international travelers Q1'20 Q2'20 2H'20 1H'21 Jul'21 Aug'21 1. Total Pursuit revenue excluding Mountain Park Lodges (7 Jasper hotels acquired June 2019), FlyOver Iceland (opened August 2019), Sky Lagoon (opened May 2021), and Golden
Skybridge (acquired March 2021 and opened June 2021). STRONG DEMAND FROM DOMESTIC LONG HAUL, LOCAL, AND REGIONAL MARKETS 18
WHY WE WILL BE SUCCESSFUL We believe that collecting memories is far
more important than collecting things. Since the beginning of time, human beings share a passion for exploration and the search for remarkable experiences. That hasn’t changed. Our MISSION is to connect guests and staff to iconic places
through unforgettable inspiring experiences. 19WHY WE WILL BE SUCCESSFUL We believe that collecting memories is far more important than collecting things. Since the beginning of time, human beings share a passion for exploration and the search for
remarkable experiences. That hasn’t changed. Our MISSION is to connect guests and staff to iconic places through unforgettable inspiring experiences. 19
A GLOBAL LIVE EVENTS COMPANY EXHIBITIONS/CONFERENCES BRAND EXPERIENCES
VENUE SERVICES In-house AV, lighting, electrical, 3,600 exhibitions, #1 and #2 2,900 unique rigging and power service market share in the UK, live and virtual experiences - provider for 35+ leading US, respectively. partnering with leading brands
incl. convention centers and hotels 4 of top 5 pharma companies. Note: 2019 amounts 21A GLOBAL LIVE EVENTS COMPANY EXHIBITIONS/CONFERENCES BRAND EXPERIENCES VENUE SERVICES In-house AV, lighting, electrical, 3,600 exhibitions, #1 and #2 2,900 unique
rigging and power service market share in the UK, live and virtual experiences - provider for 35+ leading US, respectively. partnering with leading brands incl. convention centers and hotels 4 of top 5 pharma companies. Note: 2019 amounts
21
REVENUE MIX AND GEOGRAPHIC MARKETS SERVED 2019 REVENUE MIX
Exhibitions/Conferences Brand Experiences Venue Services 6% 30% 64% North America EMEA 20% 80% Countries GES Serves GES facilities 22REVENUE MIX AND GEOGRAPHIC MARKETS SERVED 2019 REVENUE MIX Exhibitions/Conferences Brand Experiences Venue Services
6% 30% 64% North America EMEA 20% 80% Countries GES Serves GES facilities 22
EXHIBITIONS AND CONFERENCES The Exhibition and Conference market was
over $34B in 2019 with low-single digit growth from 2016 2019 Global Tradeshow Market Global Tradeshow Market Growth 2016-2019 $34.4B 4.3% annually 46% Total Addressable Market for GES US ~$2.5B THE US EXHIBITION AND CONFERENCE MARKET IS THE LARGEST
WORLDWIDE Source: PwC Global Entertainment & Media Outlook 2020-2024 23 23EXHIBITIONS AND CONFERENCES The Exhibition and Conference market was over $34B in 2019 with low-single digit growth from 2016 2019 Global Tradeshow Market Global Tradeshow
Market Growth 2016-2019 $34.4B 4.3% annually 46% Total Addressable Market for GES US ~$2.5B THE US EXHIBITION AND CONFERENCE MARKET IS THE LARGEST WORLDWIDE Source: PwC Global Entertainment & Media Outlook 2020-2024 23 23
EXHIBITIONS AND CONFERENCES GES is a global leader in the $2.5 billion
addressable market within Exhibition and Conference industry 2019 GES Exhibition/Conference Revenue 2019 GES Market Share of Largest Tradeshows $0.7B 75% EMEA 25% 84% North America UK Largest 20 US largest 250 Exhibitions Exhibitions #1 AND #2
MARKET SHARE IN UK AND US RESPECTIVELY North America/UK GES clients analyzed against TSNN Top 250 Tradeshow List and The UK Events Report 2020 24EXHIBITIONS AND CONFERENCES GES is a global leader in the $2.5 billion addressable market within
Exhibition and Conference industry 2019 GES Exhibition/Conference Revenue 2019 GES Market Share of Largest Tradeshows $0.7B 75% EMEA 25% 84% North America UK Largest 20 US largest 250 Exhibitions Exhibitions #1 AND #2 MARKET SHARE IN UK AND US
RESPECTIVELY North America/UK GES clients analyzed against TSNN Top 250 Tradeshow List and The UK Events Report 2020 24
BRAND EXPERIENCES Experiential Marketing is a large, fast-growing
segment of the corporate marketer’s budget 2019 Global Digital & Alternative 2019 Experiential Marketing Categories Marketing ($,000) (%) $340B Experiential B2B Events $38B Marketing – 35% Live Consumer Events $39B Consumer Event
Sponsorship $45B EXPERIENTIAL MARKETING IS FORECASTED TO GROW BY 7% ANNUALLY FROM 2021 TO 2024 Source: PQ Media’s Global Advertising & Marketing Spend Forecast, 2020-2024 25
BRAND EXPERIENCES A strategic partner to leading brands around the
world to manage and elevate their global experiential marketing activities Corporate Meetings & Events Digital Experiences Brand Activations Product Launches Strategic Exhibition Corporate Customer Centers Consumer Pop-up Events Sports
Activations Program Management 26BRAND EXPERIENCES A strategic partner to leading brands around the world to manage and elevate their global experiential marketing activities Corporate Meetings & Events Digital Experiences Brand Activations
Product Launches Strategic Exhibition Corporate Customer Centers Consumer Pop-up Events Sports Activations Program Management 26
VENUE SERVICES A strategic partner providing in-house services to
leading hotel and convention centers for the last 35 years For the past 14 years we have Audio Visual Services Electrical or Power Services Rigging Services been partners with ON Site. It's good to know you have a trusted partner with you in the
trenches, because sometimes Audio Visual services make the difference in closing a piece of business.“ THE VENUE SERVICES MARKET WAS Mercedes Miller, Georgia International Convention Center $9B IN 2019 27VENUE SERVICES A strategic partner
providing in-house services to leading hotel and convention centers for the last 35 years For the past 14 years we have Audio Visual Services Electrical or Power Services Rigging Services been partners with ON Site. It's good to know you have a
trusted partner with you in the trenches, because sometimes Audio Visual services make the difference in closing a piece of business.“ THE VENUE SERVICES MARKET WAS Mercedes Miller, Georgia International Convention Center $9B IN 2019
27
GES’ FINANCIAL PROFILE HAS BEEN PROFITABLE AND STABLE 2015-2019 1
GES’ 5-Year Cumulative Free Cash Flow 260 in $millions 215 $374M 164 Adj. Segment EBITDA 101 ~70% 39 Conversion to FCF $260M 2015 2016 2017 2018 2019 1 CUMULATIVE FCF STRONG CASH CONVERSION with low capex requirements 1 Free Cash Flow defined
as Adjusted Segment EBITDA less segment capex 28GES’ FINANCIAL PROFILE HAS BEEN PROFITABLE AND STABLE 2015-2019 1 GES’ 5-Year Cumulative Free Cash Flow 260 in $millions 215 $374M 164 Adj. Segment EBITDA 101 ~70% 39 Conversion to FCF
$260M 2015 2016 2017 2018 2019 1 CUMULATIVE FCF STRONG CASH CONVERSION with low capex requirements 1 Free Cash Flow defined as Adjusted Segment EBITDA less segment capex 28
PANDEMIC OFFERED OPPORTUNITY TO ACCELERATE TRANSFORMATION - CREATING A
STRONGER GES Quick and thoughtful response with a vision for the future Impact of CV19 on GES Revenue ($,000) of live events Organized business units to align more closely $1,080 to customer needs Eliminated $10M in fixed costs and further
variabilized our cost model $339 Trimmed underperforming businesses and events enabling a more agile and leaner 2019 2020 organizational structure Aligned technology and team to deliver virtual and hybrid eventsPANDEMIC OFFERED OPPORTUNITY TO
ACCELERATE TRANSFORMATION - CREATING A STRONGER GES Quick and thoughtful response with a vision for the future Impact of CV19 on GES Revenue ($,000) of live events Organized business units to align more closely $1,080 to customer needs Eliminated
$10M in fixed costs and further variabilized our cost model $339 Trimmed underperforming businesses and events enabling a more agile and leaner 2019 2020 organizational structure Aligned technology and team to deliver virtual and hybrid
events
SIGNIFICANT COST REDUCTIONS DURING PANDEMIC WILL DRIVE IMPROVED
PROFITABILITY GOING FORWARD TA RG E T F I N A N C I A L S SG&A Reductions ($M) FY 2019 Revenue $1.1B FLOW EBITDA THROUGH MARGIN EBITDA 7% >20% 8%+ ~60% ON INCREMENTAL SG&A SG&A REDUCTION REVENUE 29% 156 64% 61 61 ~$10M LOWER BREAKEVEN
POINT COST OF SALES Annualized (VARIABLE) facility cost 2H 2019 2H 2020 1H 2021 take-outs achieved 30SIGNIFICANT COST REDUCTIONS DURING PANDEMIC WILL DRIVE IMPROVED PROFITABILITY GOING FORWARD TA RG E T F I N A N C I A L S SG&A Reductions ($M)
FY 2019 Revenue $1.1B FLOW EBITDA THROUGH MARGIN EBITDA 7% >20% 8%+ ~60% ON INCREMENTAL SG&A SG&A REDUCTION REVENUE 29% 156 64% 61 61 ~$10M LOWER BREAKEVEN POINT COST OF SALES Annualized (VARIABLE) facility cost 2H 2019 2H 2020 1H 2021
take-outs achieved 30
THE CONVENTION CENTERS HAVE RE-OPENED AND LARGE-SCALE EVENTS HAVE
RE-STARTED REVENUE IS IMPROVING CONTINUING TO NAVIGATE VS. COMPARABLE PERIOD IN 2019 COVID ENVIRONMENT % of 2019 102% ▪ Delta variant has caused some shows and exhibitors to cancel ▪ Shows taking place are smaller in size than 42% 39%
pre-pandemic occurrences ▪ GES is leveraging its lower and more variable 7% 6% 7% cost structure to maximize EBITDA on lower Q1'20 Q2'20 2H'20 1H'21 Jul'21 Aug'21 revenue 31THE CONVENTION CENTERS HAVE RE-OPENED AND LARGE-SCALE EVENTS HAVE
RE-STARTED REVENUE IS IMPROVING CONTINUING TO NAVIGATE VS. COMPARABLE PERIOD IN 2019 COVID ENVIRONMENT % of 2019 102% ▪ Delta variant has caused some shows and exhibitors to cancel ▪ Shows taking place are smaller in size than 42% 39%
pre-pandemic occurrences ▪ GES is leveraging its lower and more variable 7% 6% 7% cost structure to maximize EBITDA on lower Q1'20 Q2'20 2H'20 1H'21 Jul'21 Aug'21 revenue 31
WHY WE WILL BE SUCCESSFUL We believe that virtual events cannot replace
the rich connections created through in-person interactions. From transacting business to building brand loyalty, live events provide a powerful and cost-effective means to drive business growth. That hasn’t changed. Our MISSION is to create
the most meaningful and memorable experiences for marketers, organizers and attendees. 32WHY WE WILL BE SUCCESSFUL We believe that virtual events cannot replace the rich connections created through in-person interactions. From transacting business
to building brand loyalty, live events provide a powerful and cost-effective means to drive business growth. That hasn’t changed. Our MISSION is to create the most meaningful and memorable experiences for marketers, organizers and attendees.
32
Investment Opportunity SummaryInvestment Opportunity Summary
CLEAR PATH TO ACCELERATE GROWTH AND SIGNIFICANTLY ENHANCE SHAREHOLDER
RETURNS Proven Success Executing Experienced Management Growth Strategy and Team Focused on Driving Strong Returns Shareholder Value 53% 47% Strong Liquidity Position Capitalizing on Pandemic and Financial Flexibility to Disruption to Strengthen
Sustain and Invest Leading Market Positions CREATING EXTRAORDINARY EXPERIENCES & STRONG RETURNS 34
AppendixAppendix
NON-GAAP FINANCIAL RECONCILIATION ADJUSTED SEGMENT EBITDA and SEGMENT
OPERATING INCOME GES PURSUIT VIAD TOTAL Millions 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019 2020 Net Income Attributable to Viad $ 26.6 $ 42.3 $ 57.7 $ 49.2 $ 22.0 $ (374.1) Net Income Attributable to
Noncontrolling Interest 0.4 0.5 0.5 0.5 2.3 (1.4) Net Loss Attributable to Redeemable Noncontrolling Interest - - (0.1) (0.3) (0.8) (1.5) Loss (Income) from Discontinued Operations 0.4 0.7 0.3 (1.5) 0.1 1.8 Income Tax Expense 10.5 21.3 45.9 17.1 2.5
14.2 Net Interest Expense 3.9 4.7 8.0 9.3 13.8 17.9 Other Expense 1.8 1.7 2.0 1.7 1.6 1.1 Pension Plan Withdrawal - - - - 15.7 0.5 Legal Settlement - - - - 8.5 - Impairment Charges (Recoveries) 0.1 0.2 (29.1) - 5.3 203.1 Restructuring Charges 3.0
5.2 1.0 1.6 8.4 13.4 Corporate Activities & Eliminations 8.8 10.3 12.3 10.9 10.8 8.6 Segment Operating Income $ 27.6 $ 51.1 $ 50.7 $ 39.6 $ 35.9 $ (73.9) $ 27.8 $ 35.8 $ 47.9 $ 48.9 $ 54.3 $ (42.3) $ 55.5 $ 86.9 $ 98.6 $ 88.5 $ 90.2 $ (116.2)
Segment Depreciation 20.2 21.3 26.4 28.5 24.9 21.6 7.7 12.1 16.1 17.2 20.4 24.8 27.9 33.4 42.5 45.6 45.4 46.4 Segment Amortization 6.9 8.3 10.8 9.5 10.6 6.5 0.3 0.9 1.6 1.5 2.7 3.6 7.2 9.2 12.4 11.0 13.4 10.1 Attraction Start-up Costs - - - - - - -
- 0.1 0.9 2.3 4.2 - - 0.1 0.9 2.3 4.2 Restructuring Related Inventory Write-Off - - - - - 5.3 - - - - - - - - - - - 5.3 Fire-related Business Interruption Matters - - - - - - - 0.1 - - - - - 0.1 - - - - Acquisition Integration & Transaction
Costs 0.9 0.6 0.2 0.2 - - - 1.1 0.4 0.1 1.4 0.1 0.9 1.6 0.5 0.3 1.4 0.1 Adjusted Segment EBITDA $ 55.6 $ 81.2 $ 88.2 $ 77.7 $ 71.5 $ (40.5) $ 35.8 $ 49.9 $ 66.0 $ 68.6 $ 81.2 $ (9.7) $ 91.4 $ 131.1 $ 154.2 $ 146.3 $ 152.7 $ (50.2) (1) Revenue $
976.9 $ 1,054.7 $ 1,133.1 $ 1,052.0 $ 1,079.9 $ 338.6 $ 112.2 $ 153.4 $ 173.9 $ 185.3 $ 222.8 $ 76.8 $ 1,089.0 $ 1,205.0 $ 1,307.0 $ 1,237.3 $ 1,302.7 $ 415.4 Adjusted Segment EBITDA Margin 5.7% 7.7% 7.8% 7.4% 6.6% -12.0% 31.9% 32.5% 38.0% 37.0%
36.4% -12.7% 8.4% 10.9% 11.8% 11.8% 11.7% -12.1% (1) Revenue has been adjusted in 2018 and 2019 for immaterial errors related to the revenue recognition of GES’ Corporate Accounts’ third-party services, which are now reported on a net
basis to reflect only the fees received for arranging these services. Note: Certain amounts above may not total due to rounding. FORWARD-LOOKING NON-GAAP FINANCIAL MEASURES We have also provided the following forward−looking non−GAAP
financial measure: Adjusted Segment EBITDA Margin. We do not provide a reconciliation of this forward−looking non−GAAP financial measure to the most directly comparable GAAP financial measure because, due to variability and difficulty in
making accurate forecasts and projections and/or certain information not being ascertainable or accessible, not all of the information necessary for quantitative reconciliations is available to us without unreasonable efforts. Consequently, any
attempt to disclose such reconciliations would imply a degree of precision that could be confusing or misleading to investors. It is possible that the forward−looking non−GAAP financial measure may be materially different from the
corresponding forward-looking non−GAAP financial measure. 36NON-GAAP FINANCIAL RECONCILIATION ADJUSTED SEGMENT EBITDA and SEGMENT OPERATING INCOME GES PURSUIT VIAD TOTAL Millions 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019 2020 2015
2016 2017 2018 2019 2020 Net Income Attributable to Viad $ 26.6 $ 42.3 $ 57.7 $ 49.2 $ 22.0 $ (374.1) Net Income Attributable to Noncontrolling Interest 0.4 0.5 0.5 0.5 2.3 (1.4) Net Loss Attributable to Redeemable Noncontrolling Interest - - (0.1)
(0.3) (0.8) (1.5) Loss (Income) from Discontinued Operations 0.4 0.7 0.3 (1.5) 0.1 1.8 Income Tax Expense 10.5 21.3 45.9 17.1 2.5 14.2 Net Interest Expense 3.9 4.7 8.0 9.3 13.8 17.9 Other Expense 1.8 1.7 2.0 1.7 1.6 1.1 Pension Plan Withdrawal - - -
- 15.7 0.5 Legal Settlement - - - - 8.5 - Impairment Charges (Recoveries) 0.1 0.2 (29.1) - 5.3 203.1 Restructuring Charges 3.0 5.2 1.0 1.6 8.4 13.4 Corporate Activities & Eliminations 8.8 10.3 12.3 10.9 10.8 8.6 Segment Operating Income $ 27.6 $
51.1 $ 50.7 $ 39.6 $ 35.9 $ (73.9) $ 27.8 $ 35.8 $ 47.9 $ 48.9 $ 54.3 $ (42.3) $ 55.5 $ 86.9 $ 98.6 $ 88.5 $ 90.2 $ (116.2) Segment Depreciation 20.2 21.3 26.4 28.5 24.9 21.6 7.7 12.1 16.1 17.2 20.4 24.8 27.9 33.4 42.5 45.6 45.4 46.4 Segment
Amortization 6.9 8.3 10.8 9.5 10.6 6.5 0.3 0.9 1.6 1.5 2.7 3.6 7.2 9.2 12.4 11.0 13.4 10.1 Attraction Start-up Costs - - - - - - - - 0.1 0.9 2.3 4.2 - - 0.1 0.9 2.3 4.2 Restructuring Related Inventory Write-Off - - - - - 5.3 - - - - - - - - - - -
5.3 Fire-related Business Interruption Matters - - - - - - - 0.1 - - - - - 0.1 - - - - Acquisition Integration & Transaction Costs 0.9 0.6 0.2 0.2 - - - 1.1 0.4 0.1 1.4 0.1 0.9 1.6 0.5 0.3 1.4 0.1 Adjusted Segment EBITDA $ 55.6 $ 81.2 $ 88.2 $
77.7 $ 71.5 $ (40.5) $ 35.8 $ 49.9 $ 66.0 $ 68.6 $ 81.2 $ (9.7) $ 91.4 $ 131.1 $ 154.2 $ 146.3 $ 152.7 $ (50.2) (1) Revenue $ 976.9 $ 1,054.7 $ 1,133.1 $ 1,052.0 $ 1,079.9 $ 338.6 $ 112.2 $ 153.4 $ 173.9 $ 185.3 $ 222.8 $ 76.8 $ 1,089.0 $ 1,205.0 $
1,307.0 $ 1,237.3 $ 1,302.7 $ 415.4 Adjusted Segment EBITDA Margin 5.7% 7.7% 7.8% 7.4% 6.6% -12.0% 31.9% 32.5% 38.0% 37.0% 36.4% -12.7% 8.4% 10.9% 11.8% 11.8% 11.7% -12.1% (1) Revenue has been adjusted in 2018 and 2019 for immaterial errors related
to the revenue recognition of GES’ Corporate Accounts’ third-party services, which are now reported on a net basis to reflect only the fees received for arranging these services. Note: Certain amounts above may not total due to rounding.
FORWARD-LOOKING NON-GAAP FINANCIAL MEASURES We have also provided the following forward−looking non−GAAP financial measure: Adjusted Segment EBITDA Margin. We do not provide a reconciliation of this forward−looking non−GAAP
financial measure to the most directly comparable GAAP financial measure because, due to variability and difficulty in making accurate forecasts and projections and/or certain information not being ascertainable or accessible, not all of the
information necessary for quantitative reconciliations is available to us without unreasonable efforts. Consequently, any attempt to disclose such reconciliations would imply a degree of precision that could be confusing or misleading to investors.
It is possible that the forward−looking non−GAAP financial measure may be materially different from the corresponding forward-looking non−GAAP financial measure. 36
MANAGEMENT’S COVID-19 RESPONSE AGGRESSIVE COST REDUCTIONS TO
PRESERVE CASH 1 • Implemented furloughs, layoffs, mandatory unpaid time off, and salary reductions for all employees across the company • Eliminated discretionary spending, reduced maintenance capital expenditures to essential levels,
and paused spending on the majority of growth projects • Suspended dividend payments and share repurchases SECURED ADDITIONAL CAPITAL TO STRENGTHEN LIQUIDITY 2 • Raised $56 million in cash proceeds from the disposition of certain assets,
including the cash surrender value of life insurance policies and the sale of two GES warehouses • Secured a $135 million investment from private equity firm Crestview Partners • Newly-issued perpetual convertible preferred stock that
carries a 5.5% dividend, which is payable in cash or in-kind at our option • Conversion price of $21.25 represented a premium of ~42% to our 10-day VWAP REFINANCED CREDIT FACILITY TO ENHANCE FINANCIAL FLEXIBILITY 3 • Significantly
extended debt maturity and added ~$56M cash to balance sheet We are positioned to win the recovery • Increased flexibility to make growth investments/acquisitions and to pay convertible preferred dividend in cash and emerge stronger than
before, with market share gains and permanent CONTINUED FOCUS ON STRATEGIC GOALS 4 changes to our cost structure • Accelerated transformation efforts to enhance margin profile and operating flexibility of GES 37 • Selectively invested in
high-return growth opportunities to continue scaling PursuitMANAGEMENT’S COVID-19 RESPONSE AGGRESSIVE COST REDUCTIONS TO PRESERVE CASH 1 • Implemented furloughs, layoffs, mandatory unpaid time off, and salary reductions for all employees
across the company • Eliminated discretionary spending, reduced maintenance capital expenditures to essential levels, and paused spending on the majority of growth projects • Suspended dividend payments and share repurchases SECURED
ADDITIONAL CAPITAL TO STRENGTHEN LIQUIDITY 2 • Raised $56 million in cash proceeds from the disposition of certain assets, including the cash surrender value of life insurance policies and the sale of two GES warehouses • Secured a $135
million investment from private equity firm Crestview Partners • Newly-issued perpetual convertible preferred stock that carries a 5.5% dividend, which is payable in cash or in-kind at our option • Conversion price of $21.25 represented
a premium of ~42% to our 10-day VWAP REFINANCED CREDIT FACILITY TO ENHANCE FINANCIAL FLEXIBILITY 3 • Significantly extended debt maturity and added ~$56M cash to balance sheet We are positioned to win the recovery • Increased flexibility
to make growth investments/acquisitions and to pay convertible preferred dividend in cash and emerge stronger than before, with market share gains and permanent CONTINUED FOCUS ON STRATEGIC GOALS 4 changes to our cost structure • Accelerated
transformation efforts to enhance margin profile and operating flexibility of GES 37 • Selectively invested in high-return growth opportunities to continue scaling Pursuit
OUR EXPERIENCED EXECUTIVE MANAGEMENT TEAM STEVE MOSTER - PRESIDENT
& CHIEF EXECUTIVE OFFICER ELLEN INGERSOLL - CHIEF FINANCIAL OFFICER • Has served as President and CEO of Viad since 2014 • Has served as CFO of Viad since July 2002 and as President of GES from 2010• During her tenure, the
Company successfully • Joined Viad in 2004 as GES Vice President of divested MoneyGram International in 2004 and Exhibition Furnishings and his career evolved to acquired and integrated more than 15 businesses various sales and leadership
roles within GES • Holds a B.S. from Arizona State University and is a company, including Executive Vice President - CPA Products and Services, where he led double-digit revenue growth • Holds a Bachelor of Engineering from Vanderbilt
University and an MBA from the Tuck School of Business DAVID BARRY - PRESIDENT PURSUIT JEFF STELMACH – PRESIDENT GES GLOBAL BRAND EXPERIENCES • Joined Viad in 2015 and through the repositioning • Joined Viad in 2021 to lead
GES’ growth in Brand of the Viad Travel and Recreation Group created Experiences Pursuit in 2016• Prior to joining the Company, he served as Opus • Prior to joining the Company, he served as the Agency President and has over 30
years of President and CEO of a financial services and tech experience building successful event agencies company following a three-decade career in including Opus, Mosaic, Geometry and EMI, and hospitality, the ski industry and aviation working
with some of the biggest brands in • Experience includes being CEO of the world’s largest business, including Samsung, Coca-Cola, Anheuser- heli-skiing company (CMH) and Chief Operating Busch and Oracle Officer of Intrawest USA (ski
resorts, lodging, • Graduated from the University of Notre Dame with hospitality) degrees in Business and Marketing 38OUR EXPERIENCED EXECUTIVE MANAGEMENT TEAM STEVE MOSTER - PRESIDENT & CHIEF EXECUTIVE OFFICER ELLEN INGERSOLL - CHIEF
FINANCIAL OFFICER • Has served as President and CEO of Viad since 2014 • Has served as CFO of Viad since July 2002 and as President of GES from 2010• During her tenure, the Company successfully • Joined Viad in 2004 as GES
Vice President of divested MoneyGram International in 2004 and Exhibition Furnishings and his career evolved to acquired and integrated more than 15 businesses various sales and leadership roles within GES • Holds a B.S. from Arizona State
University and is a company, including Executive Vice President - CPA Products and Services, where he led double-digit revenue growth • Holds a Bachelor of Engineering from Vanderbilt University and an MBA from the Tuck School of Business
DAVID BARRY - PRESIDENT PURSUIT JEFF STELMACH – PRESIDENT GES GLOBAL BRAND EXPERIENCES • Joined Viad in 2015 and through the repositioning • Joined Viad in 2021 to lead GES’ growth in Brand of the Viad Travel and Recreation
Group created Experiences Pursuit in 2016• Prior to joining the Company, he served as Opus • Prior to joining the Company, he served as the Agency President and has over 30 years of President and CEO of a financial services and tech
experience building successful event agencies company following a three-decade career in including Opus, Mosaic, Geometry and EMI, and hospitality, the ski industry and aviation working with some of the biggest brands in • Experience includes
being CEO of the world’s largest business, including Samsung, Coca-Cola, Anheuser- heli-skiing company (CMH) and Chief Operating Busch and Oracle Officer of Intrawest USA (ski resorts, lodging, • Graduated from the University of Notre
Dame with hospitality) degrees in Business and Marketing 38
OUR EXPERIENCED EXECUTIVE MANAGEMENT TEAM DEREK LINDE - GENERAL COUNSEL
AND SECRETARY LESLIE STRIEDEL - CHIEF ACCOUNTING OFFICER • Has served as General Counsel and Secretary of Viad • Has served as Chief Accounting Officer of Viad Corp since April 2018 since 2014 • Previously served as Deputy General
Counsel & • Previously served as Vice President of Finance and Assistant Secretary at Illinois Tool Works Inc., and was a Administration or similar positions at Colt Defense LLC, partner at Winston & Strawn LLP, where he focused on and
held various roles within finance and accounting in merger and acquisition transactions, private equity, both public and private environments securities/capital markets, corporate governance, SEC • Received her B.S. from the University of
Vermont and is filings a CPA • Received his J.D. from the Vanderbilt University School of Law and a B.A. from the University of Missouri- Columbia 39OUR EXPERIENCED EXECUTIVE MANAGEMENT TEAM DEREK LINDE - GENERAL COUNSEL AND SECRETARY LESLIE
STRIEDEL - CHIEF ACCOUNTING OFFICER • Has served as General Counsel and Secretary of Viad • Has served as Chief Accounting Officer of Viad Corp since April 2018 since 2014 • Previously served as Deputy General Counsel & •
Previously served as Vice President of Finance and Assistant Secretary at Illinois Tool Works Inc., and was a Administration or similar positions at Colt Defense LLC, partner at Winston & Strawn LLP, where he focused on and held various roles
within finance and accounting in merger and acquisition transactions, private equity, both public and private environments securities/capital markets, corporate governance, SEC • Received her B.S. from the University of Vermont and is filings
a CPA • Received his J.D. from the Vanderbilt University School of Law and a B.A. from the University of Missouri- Columbia 39
22,009 MEAL ITEMS ENVIRONMENTAL SUSTAINABILITY SERVED to the community
through our Easy Eats Meal Program We want to ensure that the most iconic destinations in the world remain spectacular and special for generations to come. 29,376 KG OF ORGANIC SUSTAINABLY- CAPITAL WASTE SOURCED EDUCATION WASTE DIVERTED DIVERSION
INVESTMENT MENUS from the landfill in Banff • Introducing waste • Developing more • Making conscious • Educating our guests sustainable capital audit and decisions about the while reflecting 16,571 management assets food we
serve and national park values programs• Installing more TREES PLANTED how we source it in • Learning about the • Implementing alternative power through the Ecostay Program an effort to lower area builds an initiatives to reduce
generation capacity in Jasper Hotels our footprint appreciation and • Improvements to plastic waste and • Ocean Wise sense of single-use systems including seafood responsibility to $2.5M containers waste management, • Local
producers protect it INVESTED IN SUSTAINABLE • Increasing diversion heating, ventilation TECHNOLOGIES of organics and and air conditioning (HVAC), and water in 2020 recycling from landfills distribution and management 40
ENVIRONMENTAL SUSTAINABILITY As a testament to our commitment Events
are created and produced with sustainability measures in mind every step to sustainability, of the way, with the goal of minimizing the event’s impact on the environment. GES is the first global full-service events WASTE COMMUNITY AIR QUALITY
PROCUREMENT provider to earn both DONATIONS DIVERSION APEX/ASTM Level 2 • Established criteria • Partner with • No idling policy • Maximize materials Certification in the US for purchasing community • 97% of our
carriers diverted from environmentally- organizations to and ISO 20121 in the participate in the landfills through preferred products donate materials EPA’s SmartWay recycling and UK, voluntary Transport • Encourage sourcing to be reused
repurposing international standards materials locally and repurposed Partnership • Paperless orders for sustainable event • 95% of our lifts and • Reusable furniture riggers are powered • Recyclable flooring, management. by
natural gas graphics, and LEED- compliant modular booth systems 41ENVIRONMENTAL SUSTAINABILITY As a testament to our commitment Events are created and produced with sustainability measures in mind every step to sustainability, of the way, with the
goal of minimizing the event’s impact on the environment. GES is the first global full-service events WASTE COMMUNITY AIR QUALITY PROCUREMENT provider to earn both DONATIONS DIVERSION APEX/ASTM Level 2 • Established criteria •
Partner with • No idling policy • Maximize materials Certification in the US for purchasing community • 97% of our carriers diverted from environmentally- organizations to and ISO 20121 in the participate in the landfills through
preferred products donate materials EPA’s SmartWay recycling and UK, voluntary Transport • Encourage sourcing to be reused repurposing international standards materials locally and repurposed Partnership • Paperless orders for
sustainable event • 95% of our lifts and • Reusable furniture riggers are powered • Recyclable flooring, management. by natural gas graphics, and LEED- compliant modular booth systems 41
SOCIAL RESPONSIBILITY Our success is built on a foundation of
integrity, ethical behavior, corporate and We believe that social responsibility, and compliance, which are reinforced every day in our maintaining a culture of businesses through our Always Honest Compliance and Ethics Program. high ethical and
legal standards provides Viad with a distinct advantage FAIR LABOR BUSINESS WORKPLACE DIVERSITY PRACTICES in recruiting and retaining RELATIONSHIPS SAFETY top talent, driving the • Value and respect • Treat our customers • Provide
a safe and • Treat our best value for our with honesty and diversity and healthy work employees fairly customers and attracting integrity, honor their promote inclusivity in environment and in shareholders. trust, and deliver the workplace
• Follow all written accordance with world-class products, • Provide equal safety information the law Being Always Honest is at opportunities for all services, and support and policies to • Ensure that those of our employment
prevent harm to our the very core of our doing business with us activities, including employees, the corporate identity and and on our behalf hiring, training, communities in guides everything we do. uphold our standards promoting, and which we
work, and compensating of integrity in all that our reputation -Steve Moster they do for us 42SOCIAL RESPONSIBILITY Our success is built on a foundation of integrity, ethical behavior, corporate and We believe that social responsibility, and
compliance, which are reinforced every day in our maintaining a culture of businesses through our Always Honest Compliance and Ethics Program. high ethical and legal standards provides Viad with a distinct advantage FAIR LABOR BUSINESS WORKPLACE
DIVERSITY PRACTICES in recruiting and retaining RELATIONSHIPS SAFETY top talent, driving the • Value and respect • Treat our customers • Provide a safe and • Treat our best value for our with honesty and diversity and healthy
work employees fairly customers and attracting integrity, honor their promote inclusivity in environment and in shareholders. trust, and deliver the workplace • Follow all written accordance with world-class products, • Provide equal
safety information the law Being Always Honest is at opportunities for all services, and support and policies to • Ensure that those of our employment prevent harm to our the very core of our doing business with us activities, including
employees, the corporate identity and and on our behalf hiring, training, communities in guides everything we do. uphold our standards promoting, and which we work, and compensating of integrity in all that our reputation -Steve Moster they do for
us 42
SAFETY PROMISE Pursuit's Safety Promise is our commitment to the safety
and well-being of our guests and staff. Through this program, we will ensure that everyone feels safe when visiting our experiences and that these places can continue to make a positive impact. SAFE CLEAN INFORMED PEACE OF MIND • Communicated
distancing and • Reduced capacities across all • Introduced increased • Committed to inspiring those cleaning measures to staff businesses and facilities cleaning protocols with CDC around us and valuing through rigorous onboarding
and Health Canada optimism • Improved guest flow through and training approved cleaners spaces • Incorporating smiles, • Added on-site signage and • Sanitizing boats, rides, buses, laughter, and joy into our •
Implemented transmission- pre-arrival communications Ice Explorers, and motor experiences reducing tactics (i.e. • Implemented new protocols for coaches between outings plexiglass barriers, personal • Inviting our guests to join us
illness reporting and protective equipment for • Applying extra stringent in experiencing the healing management staff, single-use menus, room cleaning protocols and inspiring power of iconic • Ongoing engagement and contactless payment,
express between guest stays destinations collaboration with our industry check-outs) • Removed unnecessary and government partners • Screening of team members touchpoints and added hand for illness sanitizer stations 43SAFETY PROMISE
Pursuit's Safety Promise is our commitment to the safety and well-being of our guests and staff. Through this program, we will ensure that everyone feels safe when visiting our experiences and that these places can continue to make a positive
impact. SAFE CLEAN INFORMED PEACE OF MIND • Communicated distancing and • Reduced capacities across all • Introduced increased • Committed to inspiring those cleaning measures to staff businesses and facilities cleaning
protocols with CDC around us and valuing through rigorous onboarding and Health Canada optimism • Improved guest flow through and training approved cleaners spaces • Incorporating smiles, • Added on-site signage and •
Sanitizing boats, rides, buses, laughter, and joy into our • Implemented transmission- pre-arrival communications Ice Explorers, and motor experiences reducing tactics (i.e. • Implemented new protocols for coaches between outings
plexiglass barriers, personal • Inviting our guests to join us illness reporting and protective equipment for • Applying extra stringent in experiencing the healing management staff, single-use menus, room cleaning protocols and
inspiring power of iconic • Ongoing engagement and contactless payment, express between guest stays destinations collaboration with our industry check-outs) • Removed unnecessary and government partners • Screening of team members
touchpoints and added hand for illness sanitizer stations 43
GEOGRAPHIC OVERVIEW SKY LAGOON (ICELAND) ALASKA COLLECTION (ALASKA)
1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1400867_ 1400867_
1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 GLACIER PARK COLLECTION (MONTANA) BANFF JASPER COLLECTION (CANADA) PURSUIT 2019 REVENUE MIX Banff Jasper Collection Glacier Park Collection Alaska Collection FlyOver (1) 6% 18% 60% 16% Denotes Iconic Location
Denotes FlyOver Location FLYOVER COLLECTION (1) Represents FlyOver Canada and FlyOver Iceland (opened Aug’19); FlyOver Las Vegas is expected to open Sep’21; FlyOver Toronto is expected to open Q1’24. 44 1400867_ 1400867_ 1400867_
1400867_ 1400867_ 1400867_ 1400867_1 1 1 1 1 1 1 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_
1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_1
1 1 1 1 1 1GEOGRAPHIC OVERVIEW SKY LAGOON (ICELAND) ALASKA COLLECTION (ALASKA) 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_
1400867_ 1400867_1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_
1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 GLACIER PARK COLLECTION (MONTANA) BANFF JASPER COLLECTION (CANADA) PURSUIT 2019 REVENUE MIX Banff Jasper Collection Glacier Park
Collection Alaska Collection FlyOver (1) 6% 18% 60% 16% Denotes Iconic Location Denotes FlyOver Location FLYOVER COLLECTION (1) Represents FlyOver Canada and FlyOver Iceland (opened Aug’19); FlyOver Las Vegas is expected to open Sep’21;
FlyOver Toronto is expected to open Q1’24. 44 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_1 1 1 1 1 1 1 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_
1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1 1 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_ 1400867_1 1 1 1 1 1 1
PURSUIT’S LOCATIONS HAVE STRONG PERENNIAL DEMAND 9/11 7,000,000
Recession Recession SARS 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Banff & Jasper National Parks Glacier & Waterton
National Parks Denali & Kenai Fjords National Parks 45 Sources: Parks Canada; U.S. National Park ServicePURSUIT’S LOCATIONS HAVE STRONG PERENNIAL DEMAND 9/11 7,000,000 Recession Recession SARS 6,000,000 5,000,000 4,000,000 3,000,000
2,000,000 1,000,000 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Banff & Jasper National Parks Glacier & Waterton National Parks Denali & Kenai Fjords National Parks 45 Sources:
Parks Canada; U.S. National Park Service
NEW EXPERIENCES WILL ACCELERATE GROWTH 2021 2022 2 0 2 3 & B e yo n
d MAY 2021 2022 (EST) 2023 FULL YEAR Sky Lagoon opened 78 Connaught Drive Hotel 78 Connaught Drive Hotel Reykjavik, Iceland Jasper, AB, Canada 2024 (EST) JUNE 2021 2022 FULL YEAR FlyOver Canada Toronto opens Golden Skybridge opened Sky Lagoon
Toronto, ON Golden, BC, Canada Golden Skybridge ONGOING SEPTEMBER 2021 FlyOver Las Vegas New Refresh, Build, Buy Investments FlyOver Las Vegas opened Worldwide Las Vegas, NV ONGOING, NEVER -ENDING FOCUS ON SAME-STORE ORGANIC GROW TH AND IMPROVING
THE GUEST EXPERIENCE BUSINESS RETURNS AND NE W GROW TH FROM INVESTMENTS AND CONTINUED CORPORATE DEVELOPMENT FOCUS 46NEW EXPERIENCES WILL ACCELERATE GROWTH 2021 2022 2 0 2 3 & B e yo n d MAY 2021 2022 (EST) 2023 FULL YEAR Sky Lagoon opened 78
Connaught Drive Hotel 78 Connaught Drive Hotel Reykjavik, Iceland Jasper, AB, Canada 2024 (EST) JUNE 2021 2022 FULL YEAR FlyOver Canada Toronto opens Golden Skybridge opened Sky Lagoon Toronto, ON Golden, BC, Canada Golden Skybridge ONGOING
SEPTEMBER 2021 FlyOver Las Vegas New Refresh, Build, Buy Investments FlyOver Las Vegas opened Worldwide Las Vegas, NV ONGOING, NEVER -ENDING FOCUS ON SAME-STORE ORGANIC GROW TH AND IMPROVING THE GUEST EXPERIENCE BUSINESS RETURNS AND NE W GROW TH
FROM INVESTMENTS AND CONTINUED CORPORATE DEVELOPMENT FOCUS 46
WE’RE JUST GETTING STARTED Our entrepreneurial
hospitality-oriented culture, combined with two scalable growth platforms, provides significant growth opportunities WE’RE JUST GETTING STARTED Our entrepreneurial hospitality-oriented culture, combined with two scalable growth platforms,
provides significant growth opportunities
SUCCESS STORIES: REFRESH, BUILD, BUY. BANFF GONDOLA REFRESH INVESTMENT
$22M SKY BISTRO 82 Attraction Net #1 Promoter Score Restaurant in Banff on TripAdvisor 1 ~$11M EBITDA INCREASE SINCE REFRESH 48 1 2019 as compared to trailing twelve months prior to renovationSUCCESS STORIES: REFRESH, BUILD, BUY. BANFF GONDOLA
REFRESH INVESTMENT $22M SKY BISTRO 82 Attraction Net #1 Promoter Score Restaurant in Banff on TripAdvisor 1 ~$11M EBITDA INCREASE SINCE REFRESH 48 1 2019 as compared to trailing twelve months prior to renovation
SUCCESS STORIES: REFRESH, BUILD, BUY. MOUNT ROYAL HOTEL REFRESH
INVESTMENT $36M 60% IMPROVED NET PROMOTOR SCORE #2 HOTEL REVPAR INCREASE 77 points IN BANFF from $98 in 2016 to from -7 to 70 $157 in 2019 in 2 years 49
IN DEVELOPMENT: REFRESH, BUY. BUILD, FLYOVER BUILD PROJECTS REYKJAVIK 3
Opened Aug 2019 New attractions in world class tourism cities LAS VEGAS Opened Sept 2021 #2 TORONTO TripAdvisor Ranking for FlyOver Iceland Expected opening in 2024 50IN DEVELOPMENT: REFRESH, BUY. BUILD, FLYOVER BUILD PROJECTS REYKJAVIK 3 Opened Aug
2019 New attractions in world class tourism cities LAS VEGAS Opened Sept 2021 #2 TORONTO TripAdvisor Ranking for FlyOver Iceland Expected opening in 2024 50
IN DEVELOPMENT: REFRESH, BUY. BUILD, SKY LAGOON DEVELOPMENT Opened
INVESTMENT May 2021 $13M IDEAL LOCATION OPERATING Closest geothermal PARTNER lagoon to Reykjavik in this venture 51IN DEVELOPMENT: REFRESH, BUY. BUILD, SKY LAGOON DEVELOPMENT Opened INVESTMENT May 2021 $13M IDEAL LOCATION OPERATING Closest
geothermal PARTNER lagoon to Reykjavik in this venture 51
SUCCESS STORIES: REFRESH, BUILD, BUY. ALASKA COLLECTION ACQUISITION
INVESTMENT $60M Sightseeing Boat Tours Lodging Properties 7 Experiences in Iconic Locations F&B and Retail 52SUCCESS STORIES: REFRESH, BUILD, BUY. ALASKA COLLECTION ACQUISITION INVESTMENT $60M Sightseeing Boat Tours Lodging Properties 7
Experiences in Iconic Locations F&B and Retail 52
SUCCESS STORIES: REFRESH, BUILD, BUY. MOUNTAIN PARK LODGES ACQUISITION
INVESTMENT $76M Ownership 60% Interest Market Share Hotel Properties of the Jasper 31% 7 in Jasper National Park Area Bed Base Close proximity to 3 Pursuit attractions 53SUCCESS STORIES: REFRESH, BUILD, BUY. MOUNTAIN PARK LODGES ACQUISITION
INVESTMENT $76M Ownership 60% Interest Market Share Hotel Properties of the Jasper 31% 7 in Jasper National Park Area Bed Base Close proximity to 3 Pursuit attractions 53
KEY METRICS 2019 LINE OF BUSINESS REVENUE MIX Hospitality Attractions
Travel Planning Transportation 2% 7% 42% 49% 1 1 HOSPITALITY METRICS ATTRACTION METRICS RevPAR Occupancy Revenue / Visitor Visitors $46 $138 $128 $43 $125 $117 $39 $104 $31 $31 1.7M 1.6M 1.6M 1.5M 69.2% 70.2% 69.7% 69.3% 1.3M 65.6% 2015 2016 2017
2018 2019 2015 2016 2017 2018 2019 54 1 Metrics are presented on a “same-store” basis, which includes assets owned by Viad and operating at full capacity for the entirety of the periods presented, expressed on a constant currency basis.
Visitors are expressed in thousands. See our 10-K/Q for additional information regarding this performance metric.KEY METRICS 2019 LINE OF BUSINESS REVENUE MIX Hospitality Attractions Travel Planning Transportation 2% 7% 42% 49% 1 1 HOSPITALITY
METRICS ATTRACTION METRICS RevPAR Occupancy Revenue / Visitor Visitors $46 $138 $128 $43 $125 $117 $39 $104 $31 $31 1.7M 1.6M 1.6M 1.5M 69.2% 70.2% 69.7% 69.3% 1.3M 65.6% 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 54 1 Metrics are presented
on a “same-store” basis, which includes assets owned by Viad and operating at full capacity for the entirety of the periods presented, expressed on a constant currency basis. Visitors are expressed in thousands. See our 10-K/Q for
additional information regarding this performance metric.
SEASONALITY Pursuit experiences peak activity during the summer months.
During 2019, 85% of Pursuit’s revenue was earned in the second and third quarters. Pursuit Revenue by Quarter ($M) 135.0 112.1 107.0 97.4 67.1 55.4 48.4 48.8 44.7 40.5 30.5 21.7 15.2 14.3 13.5 10.7 9.7 10.3 9.2 7.9 7.5 7.2 5.2 5.3 Q1 Q2 Q3 Q4
2015 2016 2017 2018 2019 2020 Note: To help reduce the spread of COVID-19, Pursuit’s year-round attractions and year-round lodging properties were closed temporarily starting in mid- March and remained closed during most of the second quarter
of 2020. We phased in most of Pursuit’s attractions and lodging operations starting in May 2020 with most properties open and operational during the third quarter of 2020, although at reduced capacities. We seasonally closed our non-year-round
properties during the fourth quarter of 2020; however temporary government mandated closures occurred at FlyOver Canada and FlyOver Iceland during the 55 fourth quarter.
KEY METRICS 2019 REVENUE MIX Exhibitions/Conferences Corporate Events
Other 2% 16% 82% 2 1 SHOW ROTATION US BASE SAME-SHOW GROWTH 8.0% Millions $52 4.8% 4.1% 2.8% 1.3% $(8) $(15) $(35) 2015 2016 2017 2018 2019 % U.S. $(71) Organic 45% 39% 35% 34% 30% 2015 2016 2017 2018 2019 Rev. 1 Year-over-year revenue growth of
shows that occur every year in the same quarter and are produced out of the same GES location. 56 2 Net change in revenue due to non-annual shows produced by GES (shows occur every two, three or four years).KEY METRICS 2019 REVENUE MIX
Exhibitions/Conferences Corporate Events Other 2% 16% 82% 2 1 SHOW ROTATION US BASE SAME-SHOW GROWTH 8.0% Millions $52 4.8% 4.1% 2.8% 1.3% $(8) $(15) $(35) 2015 2016 2017 2018 2019 % U.S. $(71) Organic 45% 39% 35% 34% 30% 2015 2016 2017 2018 2019
Rev. 1 Year-over-year revenue growth of shows that occur every year in the same quarter and are produced out of the same GES location. 56 2 Net change in revenue due to non-annual shows produced by GES (shows occur every two, three or four
years).
IMTS & AS IMTS, MINEXPO, & AS AIR SHOW (AS) AIR SHOW (AS) AIR
SHOW (AS) CONEXPO-CON/AGG CONEXPO-CON/AGG SEASONALITY GES’ exhibition and event activity can vary significantly from quarter to quarter and year to year depending on the frequency and timing of shows. Some shows are not held annually and some
shift between quarters. Show rotation refers to shows that occur less frequently than annually, as well as annual shows that shift quarters from one year to the next. (1) GES Revenue by Quarter 320.1 321.1 317.9 315.3 286.6 285.4 287.0 281.1 281.8
279.0 267.7 263.0 262.4 256.9 246.1 246.2 244.5 236.1 232.1 217.5 188.9 24.8 18.7 14.0 Q1 Q2 Q3 Q4 2015 2016 2017 2018 2019 2020 (1) Revenue has been adjusted in 2019 for immaterial errors related to the revenue recognition of GES’ Corporate
Accounts’ third-party services, which are now reported on a net basis to reflect only the fees received for arranging these services. Note: GES has three major non-annual shows. CONEXPO-CON/AGG is a triennial show that occurs in the first
quarter. IMTS is a biannual show that occurs in the third quarter. MINExpo is quadrennial show that occurs in the third quarter. The Paris Air Show (occurs in the second quarter) and the Farnborough Air Show (occurs in the third quarter) are 57
biennial shows that alternate years. During 2020, exhibition and event activity was largely cancelled or postponed after mid-March due to the COVID-19 pandemic. CONEXPO- CON/AGG was the only major non-annual show that occurred as scheduled in March
2020.IMTS & AS IMTS, MINEXPO, & AS AIR SHOW (AS) AIR SHOW (AS) AIR SHOW (AS) CONEXPO-CON/AGG CONEXPO-CON/AGG SEASONALITY GES’ exhibition and event activity can vary significantly from quarter to quarter and year to year depending on
the frequency and timing of shows. Some shows are not held annually and some shift between quarters. Show rotation refers to shows that occur less frequently than annually, as well as annual shows that shift quarters from one year to the next. (1)
GES Revenue by Quarter 320.1 321.1 317.9 315.3 286.6 285.4 287.0 281.1 281.8 279.0 267.7 263.0 262.4 256.9 246.1 246.2 244.5 236.1 232.1 217.5 188.9 24.8 18.7 14.0 Q1 Q2 Q3 Q4 2015 2016 2017 2018 2019 2020 (1) Revenue has been adjusted in 2019 for
immaterial errors related to the revenue recognition of GES’ Corporate Accounts’ third-party services, which are now reported on a net basis to reflect only the fees received for arranging these services. Note: GES has three major
non-annual shows. CONEXPO-CON/AGG is a triennial show that occurs in the first quarter. IMTS is a biannual show that occurs in the third quarter. MINExpo is quadrennial show that occurs in the third quarter. The Paris Air Show (occurs in the second
quarter) and the Farnborough Air Show (occurs in the third quarter) are 57 biennial shows that alternate years. During 2020, exhibition and event activity was largely cancelled or postponed after mid-March due to the COVID-19 pandemic. CONEXPO-
CON/AGG was the only major non-annual show that occurred as scheduled in March 2020.
EXHIBITION INDUSTRY HAS PROVEN RESILIENT THROUGH PRIOR DOWNTURNS US
Exhibition Industry Metrics Indexed to 2000 9/11 Recession Recession SARS 1.15 1.10 1.05 1.00 0.95 0.90 0.85 0.80 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Net Square Footage Exhibitors Attendees
58 Source: Center for Exhibition Industry Research (CEIR)EXHIBITION INDUSTRY HAS PROVEN RESILIENT THROUGH PRIOR DOWNTURNS US Exhibition Industry Metrics Indexed to 2000 9/11 Recession Recession SARS 1.15 1.10 1.05 1.00 0.95 0.90 0.85 0.80 2000 2001
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Net Square Footage Exhibitors Attendees 58 Source: Center for Exhibition Industry Research (CEIR)
