• 5% increase in revenue from continuing operations
• 1% increase in underlying EBITDA from continuing operations
• 35% increase in net profit after tax from continuing and discontinued operations
• Net debt of $13.3 million, with $14 million undrawn from facilities

Experience Co Ltd reported an underlying financial result from continuing operations which was broadly in line with the prior corresponding period. This performance was disappointing and reflected several key overarching challenges including an inconsistent return of international visitors, no material easing of economic settings in Australia, elevated levels of outbound travel, volatile climate and weather conditions, and protected industrial action taken by skydive instructors. The Skydiving segment reported revenue growth of 1% and underlying EBITDA growth of 10%, with stronger performance for Skydive New Zealand offsetting weaker performance for Skydive Australia. The Adventure Experiences segment reported revenue growth of 8% and underlying EBITDA growth of 1%. The Group reported a decrease in free cash flow generated by the business driven by the moderate overall revenue growth, Skydive Australia performance, cost base inflationary pressures, lower cash conversion due to working capital outflows and higher maintenance capex. As at 31 December 2025, the Group had cash and cash equivalents of $8.5 million and net debt of $13.3 million. The Group's financial position continues to be supported by its multi-year secured debt facility with Commonwealth Bank of Australia.

The Group reported an unaudited Underlying EBITDA from continuing operations of $2.5 million for January 2026 (PCP: $3.7 million).

The longer-term outlook for the Group is positive with expectations of continued revenue growth in line with improving tourism markets. The recovery of inbound markets is expected to remain inconsistent across Australia, while trading in New Zealand is expected to continue to be strong. Domestic trading conditions within Australia are expected to continue to be impacted by challenging macroeconomic settings, however the demand for Adventure Tourism and Experiences is expected to remain resilient.