• 1H FY26 performance slightly up on 1H FY25 despite softer trading conditions in Q2 FY26
• Skydive Australia impacted by challenging trading environment, Reef Unlimited and Skydive New Zealand performed well
• Continued cost-out program and on-market share buyback

Experience Co Ltd has provided a trading update for Q2 FY26, with 1H FY26 performance slightly up on the prior corresponding period despite softer trading conditions in Q2. Sales revenue was slightly up on the prior corresponding period, with growth for Reef Unlimited and Skydive New Zealand partially offset by a decrease for Skydive Australia and Treetops Adventure. Skydive Australia was impacted by a challenging trading environment driven by a combination of industrial action, macroeconomic factors, and some weather impacts. The company has also experienced increased impacts on margins due to tactical pricing and promotional campaigns to stimulate sales volumes. The company continues to action cost-out program initiatives to mitigate some cost/margin pressure in parts of the business. The company's on-market share buyback program has continued, with 2.79 million shares (0.37% of issued capital) bought back at a weighted average purchase price of $0.1189. The company also announced the sale of its Wild Bush Luxury business unit to Intrepid Travel for $5.1 million, with completion targeted for Q3 FY26. January trading has been impacted by severe weather events in both Australia and New Zealand, with the Reef Unlimited business unit being the most adversely affected.