ASX ANNOUNCEMENT Record Thredbo, Hotels & Resorts and Entertainment New Zealand trading result ABN 51 000 005 103

THURSDAY 22 AUGUST 2019

Major entertainment, hospitality and leisure operator EVENT Hospitality & Entertainment Limited (“EVT”) today announced a full year result with Group revenue from continuing operations of $998 million, up 2% on the prior year. Normalised profit after income tax from continuing operations was $104.3 million, a decrease of 6.7%. Overall, statutory net profit after tax including discontinued operations was $111.9 million, consistent with the prior year. In announcing the result, EVT CEO Jane Hastings said: “The full year result was driven by continued strength from Hotels, Thredbo, and New Zealand cinemas, offset by a relatively weaker second half performance from the Australian cinema market. The Hotels result was particularly pleasing with growth achieved on a record prior year profit despite well-publicised headwinds in key hotel markets with new supply. Thredbo also achieved another record result following the strong 2018 snow season.” “Event’s Australian entertainment revenue was relatively flat despite a more challenging second half due to a weaker line up of Hollywood films resulting in a $30.3 million decline in overall Australian market box office. The second half included fewer blockbusters and substantially more family films which attract a more price sensitive audience. Despite the film line up challenge, Event grew it’s market share of blockbuster and family films year on year. New cinemas, Kawana and Event Cinemas Tauranga, incorporating new premium cinema concepts delivered strong results and have validated the future cinema upgrade programme. Profit was impacted by the new revenue accounting standard for expired movie vouchers, a decrease in third party screen advertising revenue, and new cinemas in growth corridors yet to mature. The New Zealand circuit delivered a record year with growth in market share and the trading result was up after adjusting for insurance proceeds in the prior year. The new financial year has had a strong start across , New Zealand and Germany due to a stronger film line up.” Ms Hastings also commented on progress in relation to the sale of the Group’s German division: “The completion of the sale to Vue International requires the approval of the German Federal Cartel Office and this process is progressing.” With regard to future developments Ms Hastings commented: “The Concept Development Application was lodged in August for the proposed 458-472 George Street, mixed use development, including a podium with ground floor retail, an extension of the QT Sydney hotel with 72 additional rooms and conference centre, a rooftop bar and a commercial office tower. This follows the lodgement in July of the Concept Development Application for the proposed 525 George Street, Sydney mixed use development, including ground floor retail, a seven screen cinema, a new 450- room Atura hotel, a conference centre and 72 residential apartments. Funding options for both developments are currently under review.” EVT’s underlying unallocated expenses were consistent with the prior year, but were impacted by incremental incentive payments in relation to the 2018 record financial year. EVT Chairman Mr Alan Rydge also announced a fully franked final dividend of 31 cents per share, bringing the total dividend for the year to 52 cents per share, consistent with the prior year. EVT operates cinemas in Australia and New Zealand primarily under the EVENT, BCC and GU Filmhouse brands, and in Germany under the CineStar brand. In Hotels and Resorts, EVT operates under the Rydges, QT and Atura brands. EVT also owns the Thredbo Alpine Resort and has significant property holdings.

Further information

ASX Company Security Code: EVT

Telephone: +61 2 9373 6600

Contact: Jane Hastings (CEO) David Stone (Company Secretary)