EXPERIENCE CO LIMITED — Capital/Financing Update 2023

Dec 26, 2023

27 December 2023

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EXP secures new Corporate Debt Facility / Tropical Cyclone Jasper Operational Update

New Debt Facility

Experience Co Limited ( ASX: EXP ), ( EXP/Company/Group ), one of Australia and New Zealand’s leading adventure tourism operators, announces that it has entered into a A$42.7 million secured corporate debt facility ( Facility ) with Commonwealth Bank of Australia ( CBA ). The Facility comprises an equipment loan facility maturing in 5 years, a market rate loan facility maturing in 3 years and revolving asset finance facilities. This Facility replaces EXP’s existing A$20 million corporate debt facility which was due to expire on 31 March 2025.

The Facility will provide the Group additional working capital, funding for organic and acquisition growth and refinancing of its existing corporate debt facilities.

CEO, John O’Sullivan, said “we have worked closely with CBA to develop a flexible funding Facility and are pleased with the support and commitment from CBA. The business expects to see continued volume growth into the second half of FY24. The additional working capital and flexibility afforded by the Facility ensures the business is well placed to capitalise on the increased volume, progress planned organic growth projects and evaluate complementary and accretive acquisition opportunities.”

EXP was advised by EY as debt advisor and Allens Linklaters as legal counsel.

Tropical Cyclone Jasper Operational Update

The Group also notes that its operations have recommenced post the impact of Tropical Cyclone Jasper.

Reef services from Cairns and Skydive operations in Cairns and Mission Beach are now operational. Services out of Port Douglas have partially resumed and the Cape Tribulation Treetops Adventure site will remain closed until road access to the region is restored.

The Group’s preparation in the lead up to the cyclone minimised the operational impacts of the weather event and all operating assets for Skydive and Great Barrier Reef operations are undamaged. The Treetops site in Cape Tribulation suffered some damage but is expected to reopen after further assessment.

The significant efforts of the EXP team on the ground and throughout the Group enabled the business to recommence operations as quickly as possible.

Further information on the impacts will be provided in the Group’s Half Year earnings briefings.

This announcement has been approved by the Board of Experience Co Limited.

Contact Information

John O’Sullivan Chief Executive Officer Experience Co Limited p: +61 2 9030 3001 e: investor@experienceco.com

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