• Launch of EVT Connect Hospitality, a new third-party hotel brand management model
• Acquisition of Pro-invest Hotels, a third-party hotel management company
• Acquisition to deliver ~$8-9 million in annual EBITDA, including synergies

EVT Ltd ('EVT' or the 'Group') has announced the launch of EVT Connect Hospitality, a new third-party hotel brand management model, and the acquisition of Pro-invest Hotels ('PIH'), a third-party hotel management company. The acquisition of PIH, which is subject to informal clearance from the Australian Competition & Consumer Commission and certain procedural conditions precedent, will see EVT acquire 100% of the issued share capital in four entities, two in Australia and two in New Zealand. The acquisition will provide EVT with 15 long-term hotel management agreements under third-party brands, comprising approximately 3,200 rooms across Australia and New Zealand. Pro-invest Group will retain asset management responsibilities for the hotels owned by its three investment funds. EVT's forecasts indicate that the acquisition will deliver incremental normalised EBITDA on an annualised basis of an estimated ~$8-$9 million, including synergies. The consideration for the acquisition is $74 million, with an additional scaled consideration of up to $30 million payable if EBITDA in the 2025 and 2026 calendar years is higher than management's current expectations. The acquisition will be funded through EVT's existing bank debt facility and is expected to be completed later in the 2025 calendar year or early in the 2026 calendar year.

EVT's forecasts indicate that the acquisition of Pro-invest Hotels will deliver incremental normalised EBITDA on an annualised basis of an estimated ~$8-$9 million, including synergies. These forecasts are based on current expectations of hotel trading and market conditions and remain subject to change.