thl grants due diligence access to BGH Consortium

• BGH Consortium maintains Revised NBIO at NZ$3.10 per share
• THL Board grants due diligence access to BGH Consortium
• THL Board will continue to assess intrinsic value
• No recommendation for change of control transaction yet

Tourism Holdings Limited (THL) has granted due diligence access to a consortium led by BGH Capital and the Trouchet family, following a revised unsolicited, conditional, non-binding indication of interest (NBIO) at NZ$3.10 per share. The consortium has confirmed its offer, contingent on THL granting due diligence access. THL's board has agreed to this condition, subject to a confidentiality agreement. However, THL is not yet in a position to recommend a change of control transaction. The board will continue to assess THL's intrinsic value and keep shareholders informed.