#1VIAD INVESTOR PRESENTATION NOVEMBER 2023#2FORWARD-LOOKING STATEMENTS statements. This presentation contains a number of forward- looking Words, and variations of words, such as "will," "may," "expect," "would," "could," "might," "intend," "plan," "believe," "estimate," "anticipate," "deliver," "seek," "aim," "potential," "target," "outlook," and similar expressions are intended to identify our forward-looking statements. Similarly, statements that describe our business strategy, outlook, objectives, plans, initiatives, intentions or goals also are forward looking statements. These forward-looking statements are not historical facts and are subject to a host of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those in the forward-looking statements. Important factors that could cause actual results to differ materially from those described in our forward-looking statements include, but are not limited to, the following: • general economic uncertainty in key global markets and a worsening of global economic conditions; travel industry disruptions; the impact of our overall level of indebtedness, as well as our financial covenants, on our operational and financial flexibility; identified material weakness in our internal control over financial reporting; . seasonality of our businesses; the impact of the COVID-19 pandemic on our financial condition, liquidity, and cash flow; our ability to anticipate and adjust for new and emerging challenges presented by the ramifications of the COVID-19 pandemic on our businesses; unanticipated delays and cost overruns of our capital projects, and our ability to achieve established financial and strategic goals for such projects; our exposure to labor shortages, turnover, and labor cost increases; the importance of key members of our account teams to our business relationships; our ability to manage our business and continue our growth if we lose any of our key personnel; the competitive nature of the industries in which we operate; our dependence on large exhibition event clients; adverse effects of show rotation on our periodic results and operating margins; transportation disruptions and increases transportation costs; in . natural disasters, weather conditions, accidents, and other catastrophic events; our exposure to labor cost increases and work stoppages related to unionized employees; our multi-employer pension plan funding obligations; our ability to successfully integrate and achieve established financial and strategic goals from acquisitions; our exposure to cybersecurity attacks and threats; our exposure to currency exchange rate fluctuations; liabilities relating to prior and discontinued operations; and compliance with laws governing the storage, collection, handling, and transfer of personal data and our exposure to legal claims and fines for data breaches or improper handling of such data. For a more complete discussion of the risks and uncertainties that may affect our business or financial results, please see Item 1A, "Risk Factors," of our most recent annual report on Form 10-K filed with the SEC. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this presentation except as required by applicable law or regulation. 2 VIAD#3NON-GAAP FINANCIAL MEASURES This document includes the presentation of "Adjusted EBITDA", which is supplemental to results presented under accounting principles generally accepted in the United States of America ("GAAP") and may not be comparable to similarly titled measures presented by other companies. This non-GAAP measure should be considered in addition to, but not as a substitute for, other similar measures reported in accordance with GAAP. The use of this non-GAAP financial measure is limited, compared to the GAAP measure of net income attributable to Viad, because it does not consider a variety of items affecting Viad's consolidated financial performance as explained below. Because this non-GAAP measure does not consider all items affecting Viad's consolidated financial performance, a user of Viad's financial information should consider net income attributable to Viad as an important measure of financial performance because it provides a more complete measure of the Company's performance. Adjusted EBITDA is defined by management as net income attributable to Viad before income (loss) from discontinued operations, interest expense and interest income, income taxes, depreciation and amortization, acquisition-related costs, attraction start-up costs, restructuring charges, impairment losses, the reduction/increase for income/loss attributable to non-redeemable and redeemable non-controlling interests, and gains or losses from sales of businesses. Adjusted EBITDA is considered a useful operating metric, in addition to net income attributable to Viad, as potential variations arising from non-recurring integration costs, non-cash amortization and depreciation, and non-operational expenses/income are eliminated, thus resulting in an additional measure considered to be indicative of Viad's consolidated and segment performance. Management believes that the presentation of Adjusted EBITDA provides useful information to investors regarding Viad's results of operations for trending, analyzing and benchmarking the performance and value of Viad's business. Forward-Looking Non-GAAP Measures The company has not quantitatively reconciled its guidance for adjusted EBITDA to its respective most comparable GAAP measure because certain reconciling items that impact this metric including, provision for income taxes, interest expense, restructuring or impairment charges, acquisition-related costs, and attraction start-up costs have not occurred, are out of the company's control, or cannot be reasonably predicted. Accordingly, reconciliations to the nearest GAAP financial measure are not available without unreasonable effort. Please note that the unavailable reconciling items could significantly impact the company's results as reported under GAAP. 3 VIAD#4VIAD 5 PURSUIT 10 GES 17 SUMMARY 26 APPENDIX 28#5ViAD INVESTMENT HIGHLIGHTS 1 HIGH-QUALITY BUSINESSES WITH LEADING AND DEFENSIBLE MARKET POSITIONS High barriers to entry GES strong free cash flow Pursuit strong margins and growth profile Compelling growth opportunities 2 CREATING EXTRAORDINARY EXPERIENCES AND STRONG RETURNS FOR OUR SHAREHOLDERS Proven success executing growth strategy and driving. strong returns Delivered strong growth and TSR from 2015-2019 Û ADJUSTED EBITDA 70% ↑ TSR 166% 3 POSITIONED FOR ONGOING STRONG GROWTH Investments in new world- class, high-margin experiences to scale Pursuit Transformed, more profitable GES Exhibitions business Growing Spiro into a world- class marketing agency Continued recovery and strong demand for our industries 5 VIAD#6VIAD IS A LEADING GLOBAL PROVIDER OF EXTRAORDINARY EXPERIENCES OUR MISSION is to drive significant and sustainable growth by delivering extraordinary experiences for our teams, clients, and guests VIAD ■ PURSUAT GLOBAL ATTRACTIONS & HOSPITALITY COMPANY GES GLOBAL LIVE EVENTS & EXPERIENTIAL MARKETING COMPANY LONDON E-PRIX Inspiring, unforgettable experiences in iconic destinations High barriers to entry and high-margins Scalable with significant high-return growth opportunities 2023 Adjusted EBITDA Guidance: $91 to $95 Million Meaningful free cash flow generator GES Exhibitions - market leader with high levels of recurring revenue Spiro strong growth opportunity in large, fragmented market. 2023 Adjusted EBITDA Guidance: $58 to $62 Million VIAD#7OUR STRATEGY TO MAXIMIZE SHAREHOLDER VALUE VIAD PURSU, T SM GES Smart allocation of capital Continually evaluate options. to maximize shareholder value Drive accelerated growth through significant investment in Pursuit's Refresh, Build, Buy high- return growth opportunities Drive revenue growth in experiential marketing through Spiro Deliver increased profitability and strong cash flow through more flexible GES Exhibitions' cost structure AA#8CREATING VALUE WITH CAPITAL ALLOCATION STRATEGY We prioritize being strong stewards of our capital to maximize shareholder value using a balanced approach 1 MAINTAIN STRONG BALANCE SHEET ☐ $201.3 million in liquidity and 2.5x net leverage ratio as of September 30, 2023 Target net leverage ratio range of 2.5x-3.5x Long-term debt maturities Term Loan B matures in 2028 Revolving Credit Facility matures in 2026 2 DRIVE STRONG FREE CASH FLOW AT GES 3 INVEST IN GROWTH AT PURSUIT Invest in high-return growth investments to scale Pursuit's iconic locations using Refresh, Build, Buy strategy 15%+ IRR minimum hurdle rate for all growth investments Focus on opportunities that are counter seasonal, offer 12-month profitability, fit our growth criteria, and/or that are immediately accretive to EBITDA CREATING VALUE CASE STUDIES BANFF GONDOLA EBITDA: $11M / INVESTMENT: $22M GLACIER SKYWALK EBITDA: $7M/INVESTMENT: $20M ALASKA COLLECTION EBITDA: $10M / INVESTMENT: $60M 8 VIAD Note: EBITDA shown is from 2019 (and incremental for Banff Gondola as compared to trailing twelve months prior to renovation).#9SIGNIFICANT CATALYSTS AND TAILWINDS TO DRIVE MEANINGFUL YEAR-OVER-YEAR GROWTH CONSOLIDATED ADJUSTED EBITDA ($M) 116 ~135-143 FY'24 OUTLOOK PURSUIT GES FlyOver Chicago opens in March 2024 Strong demand for iconic, unforgettable, inspiring experiences Continued growth of international leisure travel Ongoing high-return growth investments Full year Adjusted EBITDA margin expansion to ~30% Major non-annual shows. (~$70M of incremental revenue vs. 2023) Strong demand for live events and experiential marketing Increased exhibition and event show sizes Accelerated growth at Spiro Full year Adjusted EBITDA margin will surpass 8% 2022 2023 Est. 2024 Est. 9 VIAD#10PURSU, TSM#11PURSUIT IS A GLOBAL ATTRACTIONS & HOSPITALITY COMPANY A vertically-integrated attractions and hospitality company that owns and operates a collection of world-class attractions, distinctive hotels, and engaging tours in iconic destinations PURSUAT ATTRACTIONS HOTELS ☐ 13 World-Class Attractions 27 Distinctive Hotels F&B, RETAIL & TRANSPORTATION Integrated within our attractions and hotels 11 VIAD#12PURSUIT'S UNFORGETTABLE, INSPIRING EXPERIENCES Located in some of the world's most remarkable places with meaningful barriers to entry and strong perennial demand ☐ BANFF JASPER COLLECTION GLACIER PARK COLLECTION ALASKA COLLECTION 2022 Revenue: ~$153M 7 Attractions 11 Hotels Located in Banff National Park and Jasper National Park 2022 Revenue: ~$58M 1 Attraction 11 Hotels Located in Glacier National Park and Waterton Lakes National Park 2022 Revenue: ~$39M ☐ 1 Attraction 5 Hotels Located in Denali National Park and Kenai Fjords National Park PURSUITSM SKY LAGOON 2022 Revenue: ~$25M ◉ 1 Attraction Located in Reykjavik FLYOVERS 2022 Revenue: ~$24M ■ 3 Attractions Located in Reykjavik, downtown Vancouver, and on Las Vegas Blvd. 12 VIAD#13PURSUIT'S EXPERIENCES HAVE PRICING POWER Our continued focus on the guest experience and revenue maximization in capacity constrained iconic destinations allows us to drive increases in rates and spend per guest while maintaining high guest reviews MOUNT ROYAL HOTEL REFRESH 79% ADR INCREASE 68% REVPAR INCREASE from 2016 to 2022 ADR GLACIER VIEW LODGE REFRESH 101% INCREASE from 2016 to 2022 86% REVPAR INCREASE REVENUE MANAGEMENT FOR MAXIMUM YIELD Selling the RIGHT PRODUCT to the RIGHT CUSTOMER at the RIGHT TIME with the RIGHT PRICE on the RIGHT DISTRIBUTION channel with the best commission efficiency BANFF GONDOLA REFRESH 59% ETP 80% INCREASE REV/VISITOR INCREASE from 2016 to 2022 MALIGNE LAKE TOURS BUY/REFRESH ETP 64% REV/VISITOR 45% | 64% INCREASE INCREASE from 2016 to 2022 PURSUITS 13 VIAD#14PURSUIT'S POWERFUL GROWTH STRATEGY Investing through Pursuit's REFRESH, BUILD, BUY strategy since 2015 to drive accelerated high-margin growth INVESTMENT CRITERIA ✓ 15%+ IRR hurdle rate ✓ Iconic, unforgettable, and inspiring ✓ Perennial demand ✓ High barriers to entry ✓ Attractive EBITDA margins High-quality guest experience ✓ Strong ease of doing business PURSU TSM REFRESH To optimize guest experience, market position, and maximize returns BUILD To create new guest experiences and revenue streams with economies of scale and scope GLACIER VIEW LODGE 2019 REFRESH SKY LAGOON 2021 BUILD MALIGNE LAKE F&B AND RETAIL 2019 REFRESH FOREST PARK ALPINE HOTEL 2022 BUILD BUY Strategic assets that drive guest experience, economies of scale and scope, improving financial performance GOLDEN SKYBRIDGE 2021 BUY GLACIER RAFT COMPANY 2022 BUY 14 VIAD#15PURSUIT DELIVERS SIGNIFICANT PROFITABLE GROWTH ☐ KEY GROWTH DRIVERS Strong demand for iconic, unforgettable, inspiring experiences Barriers to entry with strong moats World-class attractions with meaningful visitation and throughput Distinctive hotels in capacity constrained remarkable destinations Pricing power Powerful Refresh, Build, Buy growth strategy ADJUSTED EBITDA ($M) ~91-95 36 2015 2023 Est. REVENUE 112 ~343-348 Expect to MORE THAN TRIPLE Adjusted EBITDA from 2015-2024 SCALE PURSU,T SM Be the world's leading provider of iconic natural attraction and hospitality experiences 15 VIAD#16WHY WE WILL BE SUCCESSFUL We believe that collecting memories is far more important than collecting things. Since the beginning of time, human beings share a passion for exploration and the search for remarkable experiences. Our MISSION is to connect guests and staff to iconic places through unforgettable inspiring experiences. PURSU, TSM 16#17GES MOMENTUM COR MANDALUMY SSTABALACAT ART AND CAT#18GES IS A GLOBAL LIVE EVENTS & EXPERIENTIAL MARKETING COMPANY A global, full-service live events company offering a comprehensive range of event and experiential marketing services for exhibitions/conferences and corporate brand marketers SPIRO Strong growth opportunity in large, fragmented market FY'22 Revenue: ~$278 Million GES 100 YEARS SKILKEN GOLD GES EXHIBITIONS Ripco ACADIA Market leader with high levels of recurring revenue FY'22 Revenue: ~$558 Million 18 VIAD#19SPIRO IS A GLOBAL EXPERIENTIAL MARKETING AGENCY DELIVERING CREATIVE AND STRATEGIC EVENTS AND EXPERIENCES into the large, fragmented ~$70B market MEETINGS & EVENTS ENVIRONMENTS & PERMANENT INSTALLATIONS Money 20/20 EURO Bell Helicopter EXHIBITS & PROGRAM MANAGEMENT ABB Spiro TM Part of the GES Collective Source: PQ Media's Global Advertising & Marketing Spend Forecast, 2022-2026, October 2022 MARKETING & MEASUREMENT Julius BRY INSIGHT ABE BRAND & PRODUCT ACTIVATIONS VIAD#20SPIRO HAS MEANINGFUL SCALE WITH A STRONG AND GROWING CLIENT ROSTER REPRESENTING OVER 1,500 CORPORATE CLIENTS AND THE BEST OF THE BEST 49 NEW CLIENTS SINCE SPIRO LAUNCH IN Q1'22 HEALTHCARE AEROSPACE & DEFENSE MACHINERY & INDUSTRIAL FINANCIAL TECHNOLOGY TECHNOLOGY Spiro works with 10 of the Top 10 Pharma Companies 4 of the Top 10 9 of the Top 10 Aerospace & Defense Companies 6 of the Top 10 Machinery & Industrial Companies 3 of the Top 10 Financial Technology Companies 8 of the Top 10 Technology Companies Healthcare Companies TM SpirⒸⓇ Part of the GES Collective Pharma Source: Beckers Hospital Review https://www.beckershospitalreview.com/pharmacy/top-10-pharma-companies-by-revenue-in-2020.html Healthcare Source: Investopedia, https://www.investopedia.com/articles/markets/030916/worlds-top-10-health-care-companies-unh-mdt.asp Aerospace & Defense Source: Value Today https://www.value.today/world-top-companies/aerospace-and-defense Machinery & Industrial Source: https://blog.bizvibe.com/blog/industrial-machinery-machine-parts/top-10-largest-machinery-manufacturers-world Fintech Source: CTFE, https://courses.cfte.education/ranking-of-largest-fintech-companies/ Technology Source: Statista, https://www-statista-com.proxy:2443/statistics/216657/ 20 VIAD#21SPIRO IS BUILT FOR GROWTH Uniquely positioned to win business from new and existing clients ✔ Global network ✓ End to end in-house solutions - from strategy & creative to execution & analytics. ✓ Enhanced capabilities- - expanded creative & design resources ✓ Industry leading expertise in multiple verticals. ✓ Marquee client base TARGET REVENUE CAGR: HIGH-SINGLE TO LOW-DOUBLE DIGITS LARGE FRAGMENTED GROWING MARKET Experiential marketing is forecasted to rise globally at ~9% CAGR to $105B by 2026 ~80% of brands view experiential events as their most important marketing channel ~86% of brands plan to attend or host more in-person events in 2024 than in 2023 Sources: PQ Media Global Experiential Marketing Forecast 2022-2026, Bizzabo 21 VIAD#22GES EXHIBITIONS IS A LEADING CONTRACTOR FOR TRADESHOW ORGANIZERS GES LANDOLAKES LAND QUAKES RESH Dolem Tiem Bemord POSADA Danson GLOBAL LEADER #2 market share in the US #1 market share in the UK RECURRING REVENUE 3-5 year contracts High Renewal Rates WE SERVE 3,600+ exhibitions / conferences Saputor SERVICES PROVIDED: ■ Material Handling Graphics and Signage ■ Electrical and Rigging ■ Furnishings and Carpet ■ Event Accommodations ■ Installation & Dismantle Saputr STRONGER MONS Registration and Data Analytics Exhibit Booth and Furniture Rentals Saputo ING WEST O We Can Build That REXNORD CAMBRIDGE SIMMONS TOUGH SIMMON OBT. PFI 0 FSNS CERTIFICAT 50 17065 22 CHEMS VIAD#23EXHIBITIONS' INDUSTRY HAS SUBSTANTIALLY RECOVERED WITH ROOM FOR MORE GROWTH GES US Exhibitions Same-Show* Revenue and Square Footage vs. 2019 Pre-Pandemic Occurrence GES' revenue per net square foot of event space has improved vs. pre-pandemic 102% 99% 91% 93% 91% 87% 88% 86% 73% 83% 83% 84% 81% 75% Same-Show Square Footage -Same-Show Revenue In Q3'23, GES Exhibitions' same show revenue is now exceeding 2019 levels Show sizes on average were still ~12% below pre-pandemic levels Substantial opportunity for future growth as event sizes fully recover Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 * The US same show metric compares tradeshows that occurred in the same city for both occurrences and generally represents between 20% and 50% of the total exhibition revenue. 23 VIAD#24GES DRIVES STRONG FREE CASH FLOW KEY GROWTH DRIVERS Substantial benefit in 2024 from major non-annual shows (~$70M of incremental revenue vs. 2023) ■ Continued focus on efficiency with lean productivity initiatives Spiro winning new clients and cultivating existing clients Exhibitions' pricing strength and continued recovery of show sizes Strong demand for live events and experiential marketing Low capex requirements (about 2% of GES revenue) ADJUSTED EBITDA - CAPEX ($M) ~43-47 45 2019 2023 Est. REVENUE 1,080 ~874-889 Expect STRONGER Free Cash Flow in 2024 primarily from higher Revenue TRANSFORM GES Be the world's leading provider of experiential marketing and live events experiences 1 Free Cash Flow conversion calculated as (Adjusted Segment EBITDA less Segment Capital Expenditures) / Adjusted Segment EBITDA. 24 4 VIAD#25WHY WE WILL BE SUCCESSFUL BUILDING MACHINES T 83:34:00 Live events and other forms of experiential marketing provide a powerful means to drive business growth. We are primed to create what is possible for our clients and to be the industry leader. Our MISSION is to create the most meaningful and memorable experiences for marketers, organizers and attendees. DECRE • GES 25 VIAD#26KUIG VIAD INVESTMENT OPPORTUNITY SUMMARY#27CREATING EXTRAORDINARY EXPERIENCES AND STRONG RETURNS VIAD Proven Success Executing Growth Strategy and Driving Strong Returns Ongoing Investments to Scale Pursuit's Iconic Locations Experienced Management Team Focused on Shareholder Value Benefiting from Industry Recovery and Delivering New Growth AWARDS NIGHT PURSU, T™ SM GES 27#28APPENDIX#29NON-GAAP FINANCIAL RECONCILIATION VIAD CONSOLIDATED ($M) Revenue 2020 2021 2022 $ 415.4 $ 507.3 $ 1,127.3 Net Income (Loss) Attributable to Viad Net Income (Loss) Attributable to Noncontrolling Interest Net Loss Attributable to Redeemable Noncontrolling Interest Loss (Income) from Discontinued Operations Income Tax Expense (Benefit) Net Interest Expense Other Expense Legal Settlement Pension Plan Withdrawal Impairment Charges (Recoveries) Restructuring Charges Depreciation and Amortization Start-up Costs (A) Acquisition Integration & Transaction Costs Gain on sale of ON Services Remeasurement of Finance Lease Obligation (B) 2015 2016 2017 2018 2019 $ 1,089.0 $ 1,205.0 $ 1,307.0 $ 1,237.3 $ 1,302.7 $ 26.6 $ 42.3 $ 57.7 0.4 $ 49.2 $ 22.0 $ (374.1) $ (92.7) $ 23.2 0.5 0.5 0.5 2.3 (1.4) 1.7 2.3 - (0.1) (0.3) (0.8) (1.5) (1.8) (0.7) 0.4 0.7 0.3 (1.5) 0.1 1.8 (0.6) (0.1) 10.5 21.3 45.9 17.1 2.5 14.2 (1.8) 10.0 3.9 4.7 8.0 9.3 13.8 17.9 28.3 34.9 1.8 1.7 2.0 1.7 1.6 1.1 2.0 2.1 8.5 15.7 0.5 0.1 0.1 0.2 (29.1) (0.0) 3.0 5.2 1.0 1.6 16 5.3 203.1 - 0.6 8.4 13.4 6.1 3.1 35.2 42.7 55.1 56.8 59.0 56.6 53.8 52.5 - - 0.1 0.9 2.3 4.2 4.7 2.2 2.3 2.2 1.2 0.9 3.3 0.3 0.9 1.6 (19.6) 4.2 Restructuring Related Inventory Write-Off (C). 5.3 Fire-related Business Interruption Matters 0.1 Other Non-Recurring Expenses (D) 0.7 Consolidated Adjusted EBITDA $ 84.9 $ 121.6 $ Corporate Adjusted EBITDA & Corporate Eliminations (E) 6.5 9.5 Segment Adjusted EBITDA $ 91.4 $ 131.1 $ 142.7 11.5 154.2 136.2 10.1 144.0 8.7 $ $ 146.3 Pursuit Segment Adjusted EBITDA 35.8 49.9 GES Segment Adjusted EBITDA 55.6 81.2 66.0 88.2 68.6 77.7 $ 152.7 81.2 $ 1.8 (56.8) $ 6.6 (50.2) $ 0.6 0.2 71.5 (9.7) (40.5) 1.3 $ 11.0 12.3 $ 42.7 116.1 13.1 129.2 67.9 (30.4) 61.3 Free Cash Flow: Consolidated Adjusted EBITDA Less: Capital Expenditures Free Cash Flow Cumulative Free Cash Flow (B) $ 121.6 $ 142.7 $ 136.2 $ 144.0 $ $ 84.9 (29.8) (49.8) (56.6) (83.3) (76.1) (56.8) $ (53.6) 1.3 $ (57.9) 116.1 (67.2) $ 55.1 $ 71.8 $ 86.0 $ 52.8 $ 67.9 $ (110.4) $ (56.6) $ 48.9 $ 55.1 $ 126.9 $ 212.9 $ 265.7 $ 333.6 $ 223.2 $ 166.6 $ 215.6 (A) Includes costs related to the development of Pursuit's new FlyOver attractions in Las Vegas, Chicago, and Toronto, the Sky Lagoon in Iceland, and the Golden Skybridge and Forest Park Alpine Hotel in Canada. Remeasurement of finance lease obligation represents the non-cash foreign exchange loss/(gain) included within Cost of Services related to the periodic remeasurement of the Sky Lagoon finance lease obligation. Includes inventory write-offs at GES in connection with transitioning to an outsourced model for trade show aisle carpet. (C) (D) Includes non-capitalizable fees and expenses related to Viad's credit facility refinancing efforts. (E) Corporate Adjusted EBITDA is calculated as Corporate activities expense before depreciation, acquisition-transaction-related costs and other non-recurring costs included within Corporate activities expense. FORWARD-LOOKING NON-GAAP FINANCIAL MEASURES We have also provided the following forward-looking non-GAAP financial measure: Adjusted EBITDA, Adjusted EBITDA Margin, and Free Cash Flow. We do not provide a reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures because, due to variability and difficulty in making accurate forecasts and projections and/or certain information not being ascertainable or accessible, not all of the information necessary for quantitative reconciliations is available to us without unreasonable efforts. Consequently, any attempt to disclose such reconciliations would imply a degree of precision that could be confusing or misleading to investors. It is possible that the forward-looking non-GAAP financial measures may be materially different from the 29 corresponding forward-looking non-GAAP financial measure. VIAD#30NON-GAAP FINANCIAL RECONCILIATION PURSUIT ($M) Revenue Operating Income (Loss) Depreciation Amortization Start-up Costs (A) 2015 2016 2017 2018 2019 2020 2021 2022 $ 112.2 $ 153.4 $ 173.9 $ 185.3 $ 222.8 $ 76.8 $ 187.0 $ 299.3 $ 27.8 $ 35.8 $ 47.9 $ 48.9 $ 54.3 $ (42.3) $ 4.6 $ 24.0 7.7 12.1 16.1 17.2 20.4 24.8 27.4 31.1 0.3 0.9 1.6 1.5 2.7 3.6 5.1 5.0 0.1 0.9 2.3 4.2 4.7 2.2 Fire-related Business Interruption Matters Acquisition Integration & Transaction Costs 0.1 - 1.1 = - - 0.4 0.1 1.4 0.1 0.9 1.5 Remeasurement of finance lease obligation (B) Adjusted EBITDA 4.2 $ 35.8 $ 49.9 $ 66.0 $ 68.6 $ 81.2 $ Less: Capital Expenditures (13.1) (31.9) (30.8) (56.9) (49.9) (9.7) $ (43.2) 42.7 $ 67.9 (54.3) (56.8) Free Cash Flow $ 22.7 $ 18.0 $ 35.2 $ 11.7 $ 31.3 $ (52.9) $ Cumulative Free Cash Flow $ 22.7 $ 40.7 $ 76.0 $ 87.7 $ 119.0 $ 66.1 $ (11.6) $ 54.4 $ 11.2 65.6 Adjusted EBITDA Margin GES ($M) Revenue (¹) 976.9 $ 1,054.7 $ 1,133.1 $ 1,052.0 $ 1,079.9 $ Operating Income (Loss) Depreciation Amortization Restructuring Related Inventory Write-Off (C) 31.9% 32.5% 38.0% 37.0% 36.4% 2015 2016 2017 2018 2019 -12.7% 2020 22.8% 22.7% 2021 2022 $ 338.6 $ 320.3 $ 828.0 27.6 $ 51.1 $ 50.7 $ 39.6 $ 35.9 $ (73.9) $ (51.6) $ 44.9 20.2 21.3 26.4 28.5 24.9 21.6 16.3 11.9 6.9 8.3 10.8 9.5 10.6 6.5 4.9 4.4 5.3 Acquisition Integration & Transaction Costs 0.9 0.6 0.2 0.2 Adjusted EBITDA Less: Capital Expenditures Free Cash Flow Cumulative Free Cash Flow $ 55.6 $ 81.2 $ 88.2 $ 77.7 $ 71.5 $ (40.5) $ (30.4) $ 61.3 (16.4) (19.3) (25.4) (26.3) (26.2) (10.4) $ 39.2 $ 61.9 $ $ 39.2 $ 101.1 $ 62.7 $ 163.8 $ 51.4 $ 215.2 $ 45.3 $ 260.5 $ (50.9) $ 209.6 $ (3.1) (33.5) $ 176.1 $ (10.3) 51.0 227.0 Adjusted EBITDA Margin (1) 5.7% 7.7% 7.8% 7.4% 6.6% -12.0% -9.5% 7.4% Revenue has been adjusted in 2019 for immaterial errors related to the revenue recognition of GES' Corporate Accounts' third-party services, which are now reported on a net basis to reflect only the fees received for arranging these services. (A) Includes costs related to the development of Pursuit's new FlyOver attractions in Las Vegas, Chicago, and Toronto, the Sky Lagoon in Iceland, and the Golden Skybridge and Forest Park Alpine Hotel in Canada. (B) Remeasurement of finance lease obligation represents the non-cash foreign exchange loss/(gain) included within Cost of Services related to the periodic remeasurement of the Sky Lagoon finance lease obligation. (C) Includes inventory write-offs at GES in connection with transitioning to an outsourced model for trade show aisle carpet. 30 VIAD#31OUR EXPERIENCED EXECUTIVE MANAGEMENT TEAM STEVE MOSTER - PRESIDENT & CHIEF EXECUTIVE OFFICER Has served as President and CEO of Viad since 2014 and as President of GES from 2010 Joined Viad in 2004 as GES Vice President of Exhibition Furnishings and his career evolved to various sales and leadership roles within GES company, including Executive Vice President - Products and Services, where he led double-digit revenue growth Holds a Bachelor of Engineering from Vanderbilt University and an MBA from the Tuck School of Business ELLEN INGERSOLL - CHIEF FINANCIAL OFFICER • Has served as CFO of Viad since 2002 During her tenure, the Company successfully divested MoneyGram International in 2004 and acquired and integrated more than 15 businesses Holds a B.S. from Arizona State University and is a CPA DEREK LINDE - CHIEF OPERATING OFFICER Has served as Chief Operating Officer since March 2022. Prior to that, Mr. Linde served as our General Counsel & Corporate Secretary from April 2018 to October 2023 Previously worked at Illinois Tool Works Inc., where he led teams that provided legal and strategic services to the company's diversified, global business segments. Prior to ITW, Derek was a partner at the international law firm Winston & Strawn LLP Received his J.D. from the Vanderbilt University School of Law and a B.A. from the University of Missouri-Columbia DAVID BARRY - PRESIDENT PURSUIT Joined Viad in 2015 and through the repositioning of the Viad Travel and Recreation Group created Pursuit in 2016 Prior to joining the Company, he served as the President and CEO of a financial services and tech company following a three-decade career in hospitality, the ski industry and aviation Experience includes being CEO of the world's largest heli-skiing company (CMH) and Chief Operating Officer of Intrawest USA (ski resorts, lodging, hospitality) 31 VIAD#32OUR EXPERIENCED EXECUTIVE MANAGEMENT TEAM JEFF STELMACH - PRESIDENT SPIRO • Joined Viad in 2021 to lead GES' growth in Brand Experiences Prior to joining the Company, he served as Opus Agency President and has over 30 years of experience building successful event agencies including Opus, Mosaic, Geometry and EMI, and working with some of the biggest brands in business, including Samsung, Coca-Cola, Anheuser- Busch and Oracle Graduated from the University of Notre Dame with degrees in Business and Marketing LESLIE STRIEDEL - CHIEF ACCOUNTING OFFICER Has served as Chief Accounting Officer of Viad Corp since 2014 Previously served as Vice President of Finance and Administration or similar positions at Colt Defense LLC, and held various roles within finance and accounting in both public and private environments Received her B.S. from the University of Vermont and is a CPA JON MASSIMINO - GENERAL COUNSEL AND SECRETARY Has served as General Counsel & Corporate Secretary since October 2023, and has taken on roles with increasing responsibility since joining Viad in 2011 Previously counseled a wide variety of clients in private practice based in California Received his J.D. from the Georgetown University Law Center in Washington, D.C., and a B.A. from Westminster University in Salt Lake City, Utah 32 VIAD#33ViAD OUR MISSION & WHAT WE STAND FOR OUR MISSION Drive significant and sustainable growth by delivering extraordinary experiences for our teams, clients, and guests OUR VISION Create the world's most extraordinary experiences PEOPLE FIRST FUTURE FOCUSED HONESTY, ALWAYS BE EXTRAORDINARY 33#34OUR ESG COMMITMENT We are committed to delivering extraordinary experiences that support a more sustainable world for generations to come. We protect and improve our world by continuously investing in our people, reducing our environmental impact, and honoring our communities. PEOPLE Diversity, Equity, & Inclusion Workplace Safety ■ Fair Labor Practices Our people drive our success. We foster a culture that is equitable and inclusive, celebrates our talent, and prioritizes the safety and wellness of our teams, clients, and guests. We are committed to cultivating an environment where people of all different backgrounds feel a sense of belonging and contribute to our continued success. OUR PILLARS AND INITIATIVES PLANET ■ Waste & Water Reduction Energy Efficiency ■ Community Involvement We respect, honor, and protect the places where we live and work to help improve our communities and support a more sustainable future for our world. We are focused on minimizing our environmental impact by using responsible business practices and initiatives to eliminate unnecessary waste, reduce water consumption, and use energy more efficiently. " PURPOSE Always Honest Compliance & Ethics Program ESG Policies ■ Board Commitment The values of integrity, ethical behavior, and legal compliance are reinforced every day in our businesses through our Always Honest Compliance and Ethics Program adopted by our Board of Directors. Our Board recently strengthened several environmental and social policies, and oversees our risks and opportunities. We are committed to continuous progress on our ESG journey. 34 VIAD#35PURSU T GEOGRAPHIC OVERVIEW SKY LAGOON (ICELAND) ALASKA COLLECTION (ALASKA) GLACIER PARK COLLECTION (MONTANA) BANFF JASPER COLLECTION (CANADA) Denotes Iconic Location Denotes FlyOver Location (Chicago and Toronto are in development) FLYOVER COLLECTION PURSUIT 2022 REVENUE MIX ($299M TOTAL) Banff Jasper Collection Alaska Collection Sky Lagoon Glacier Park Collection ■FlyOver (1) 8% 8% 13% 51% 20% (1) Represents FlyOver Canada, FlyOver Iceland (opened Aug'19), and FlyOver Las Vegas (opened Sep'21); FlyOver Chicago is expected to open in 2024. 35 VIAD#36EXPERIENCE PURSUIT PURSUAT We invite you to experience some of our inspiring Refresh, Build, Buy growth investments in person or through the VIDEO LINKS BELOW: REFRESH BUILD BUY BANFF GONDOLA SKY LAGOON GOLDEN SKYBRIDGE GLACIER VIEW LODGE FLYOVER LAS VEGAS MALIGNE VALLEY MOUNT ROYAL HOTEL FLYOVER ICELAND KENAI FJORDS TOURS 36 VIAD SM#37PURSUIT'S ICONIC LOCATION ATTRACTIONS A collection of 10 inspiring and unforgettable, world-class attractions in renowned global travel locations with attractive margins and barriers to entry ADDED 4 HIGH-QUALITY BUCKET LIST EXPERIENCES FROM 2020 TO PRESENT THAT CONTINUE TO RAMP BANFF LAKE GONDOLA MINNEWANKA CRUISE MALIGNE LAKE CRUISE GLACIER ADVENTURE GLACIER SKYWALK ΚΕΝΑΙ FJORDS TOURS OPEN TOP TOURING OPENED SEP'20 SKY LAGOON OPENED APR 21 GOLDEN SKYBRIDGE OPENED JUN'21 PURSU TSM GLACIER RAFT CO ACQUIRED APR 22 37 VIAD#38PURSUIT'S FLYOVER FLYING RIDE EXPERIENCES Multi-sensory flight ride experiences showcasing awe-inspiring scenery with state-of-the-art motion seating, media, and special effects that simulate a true flying experience VANCOUVER PURSU, T SM" INVESTMENT HIGHLIGHTS Opened 2013 61 seats Acquired 2016 REYKJAVIK Opened 40 seats August 2019 LAS VEGAS Opened September 2021 80 seats 2 theaters CHICAGO Est. Opening 2024 High-quality guest experience and proven concept TripAdvisor Rating - #1 for Fun Activities and Games in Vancouver Attractive EBITDA margins Revenue from incremental passengers after breakeven contributes nearly 100% to EBITDA Ability to move films to other FlyOver locations Low maintenance expenditures Meaningful barriers to entry Broad guest appeal Year-round and not weather dependent 38 VIAD#39PURSUIT'S ICONIC LOCATION HOTELS A collection of 27 inspiring and unforgettable, distinctive hotels with 2,373 rooms in renowned global travel locations. with occupancy compression and barriers to entry MORE THAN DOUBLED ROOM NIGHTS AVAILABLE FROM 2019 TO PRESENT WITH NEW HOTELS BANFF JASPER GLACIER | WATERTON Elk Avenue Hotel 164 rooms Glacier Park Lodge* 162 rooms DENALI | KENAI FJORDS Seward Windsong Lodge* 216 rooms Forest Park Woodland 152 rooms Grouse Mountain Lodge 145 rooms Lobstick Lodge 139 rooms St. Mary Village* 116 rooms Talkeetna Alaskan Lodge* Denali Cabins* 212 rooms 46 rooms Mount Royal Hotel 133 rooms Prince of Wales Hotel* 86 rooms Denali Backcountry Lodge* 42 rooms Chateau Jasper Hotel 119 rooms Apgar Village Lodge & Cabins* 48 rooms Kenai Fjords Wilderness Lodge* 8 rooms 524 rooms The Crimson Hotel 99 rooms West Glacier Cabin Village* 32 rooms Forest Park Alpine (opened August 2022) 88 rooms Glacier Basecamp Lodge 32 rooms Marmot Lodge 81 rooms Belton Chalet* 27 rooms Pyramid Lake Lodge 68 rooms Motel Lake McDonald* 27 rooms Miette Mountain Cabins Glacier View Lodge* 56 rooms Glacier Raft Co. Lodging* 23 rooms 32 rooms West Glacier RV Park and Cabins* 20 rooms 718 rooms 1,131 rooms PURSU TSM * Denotes a property that operates seasonally (generally closed from October - April) 39 VIAD Note: 2019 to Present New Hotels include the following: Mountain Park Lodges (Q2'19). Belton Chalet (Q2'19), West Glacier RV Park (Q3'19), Glacier Basecamp Lodge (Q1'20), Glacier Raft Co. (Q2'22), and Forest Park Alpine (Q3'22)#40PURSUIT'S NEW EXPERIENCES OVERVIEW Added 11 new experiences from 2019 to Present NEW EXPERIENCES - 2019 TO PRESENT Belton Chalet - 27 rooms and dining located outside the west entrance to Glacier National Park Mountain Park Lodges - 60% equity interest in 7 year-round hotels in Jasper National Park West Glacier RV Park & Cabins - RV park and cabins located at the west entrance to Glacier National Park Sky Lagoon Attraction - 51% controlling interest in entity to manage the premium oceanfront geothermal lagoon in Iceland FlyOver Iceland Attraction - 56.4% controlling interest in corporation to operate 40-seat flying ride experience in Iceland Glacier Basecamp Lodge - 32 rooms and cabins in Columbia Falls, Montana Open Top Touring Attraction - guided scenic tour of Banff in a vintage-style 1930s coach Golden Skybridge Attraction - 60% controlling interest in attraction that includes suspension bridges, zipline, canyon challenge course, and mountain coaster (opening spring 2023) in Golden, British Columbia FlyOver Las Vegas Attraction - 80-seat flying ride experience in Las Vegas Glacier Raft Company - guided river rafting trips in West Glacier, 13 log cabins, a lodge, and a wedding venue located on 50 acres with views into Glacier National Park Forest Park Alpine Hotel - new 88-room hotel constructed in Jasper National Park PURSUITSM DATE Acquired May 2019 Acquired June 2019 Opened July 2019 Acquired July 2019 Opened April 2021 Acquired November 2017 Opened August 2019 Acquired January 2020 Opened September 2020 Acquired March 2021 Opened June 2021 Opened September 2021 Acquired April 2022 Opened August 2022 40 VIAD#41PURSUIT'S LOCATIONS HAVE STRONG PERENNIAL DEMAND PARK VISITATION 7,000,000 9/11 Recession SARS Recession 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 I 1,000,000 I COVID-19 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 -Banff & Jasper National Parks PURSU T Sources: Parks Canada; U.S. National Park Service Glacier & Waterton National Parks -Denali & Kenai Fjords National Parks 41 VIAD#42SM PURSU T™ SEASONALITY Pursuit experiences peak activity during the summer months. During 2022, 81% of Pursuit's revenue was earned in the second and third quarters. Pursuit Revenue by Quarter ($M) 33 24 41 45 48 55 36 5 8 10 11 14 10 5 Q1 88 88 78 97 107 112 135 118 187 164 49 34 10 14 15 22 23 9 Q2 Q3 2016 2017 2018 2019 | 2020 2021 2022 2023 Q4 Note: To help reduce the spread of COVID-19, Pursuit's year-round attractions and year-round lodging properties were closed temporarily starting in mid- March and remained closed during most of the second quarter of 2020. We phased in most of Pursuit's attractions and lodging operations starting in May 2020 with most properties open and operational during the third quarter of 2020, although at reduced capacities. We seasonally closed our non-year-round properties during the fourth quarter of 2020; however temporary government mandated closures occurred at FlyOver Canada and FlyOver Iceland during the fourth quarter. 42 VIAD#43SpirⒸ WHAT WE DO Part of the GES Collective Specializing in results-based experiences, we activate, grow, and evolve brands through our hybrid experiential solutions: MEETINGS & EVENTS Keynote Presentations ■ Annual Meetings Corporate Meetings Proprietary Conferences ■ User Conferences Marketing Kick Off Meetings ■ Sales Kick Off Meetings ■ Galas & Award Shows ■ Incentive Meetings Housing & Travel Registration Speaker Support ■ Venue Sourcing ■ VIP Events ■ Event Technology ...And More EXHIBITS & PROGRAM MANAGEMENT Brand Standardization Exhibit & Graphic Design Custom/Rental Solutions ■ Fabrication Graphic Production Logistics Management Inventory Management Warehousing ■ Service ordering ■ A/V ■ I&D ■ Staff Training ■ Portable Solutions ...And More ENVIRONMENTS & PERMANENT INSTALLATIONS ■ Customer Experience Centers ■ Visitor Centers Lobby Installations ■ VIP Lounges ■ Museum Displays Chalets/Pavilions Holiday Displays ■ Tech Centers ...And More BRAND & PRODUCT ACTIVATIONS ■ Product Launches " Pop-ups - Mobile Tours Hospitality Houses ■ Festival Activations ■ Press Activations ■ Sports Marketing Sponsorship Activation ■ Luxury Marketing ■ Guerilla Marketing Social & Digital Marketing ...And More MARKETING & MEASUREMENT ■ Pre, At & Post Event Marketing Strategy, Innovation & Intelligence ■ Audience Engagement ■ Immersive Storytelling Content Creation & Management ■ Video Production & Curation ■ Data & Insights ☐ Community Facilitation ...And More 43 VIAD#44Spir™ SUCCESS STORIES: Part of the GES Collective RISE AT THE PARIS AIR SHOW As a world-leading provider of jet engines, commercial and military aircraft systems, GE Aerospace partnered with Spiro to inspire minds at the Paris Air Show 2023 and bring to life its incredible heritage culminating in the story of RISE - its revolutionary open rotor technology. GEGE Aerospace ■ Our team relished challenging the traditional airshow chalet experience of the usual formal meeting rooms, traditional hospitality and passive product displays. We went all in on creating impact for the customer's first impression creating an amorphic video wall & content as well as integrating the RISE half-scale engine to a digital surface projection story. Leading with tech driven content that helped bring the incredible. innovation stories to life, the approach from our creative, technologists and production teams has helped transform the way GE Aerospace thinks about its experiences at air shows and beyond. RICE PROGR M ЬВОСК, І B IS 44 VIAD#45Spiro SUCCESS STORIES: Part of the GES Collective THE NEED FOR SPEED Across 14 of the most iconic cities in the world, Formula E is the world's largest electric motorsport race series combining an incredible racing spectacle with its sustainable global messaging. Partnering with iconic luxury brand sponsor Hugo Boss, we designed and built its 5-Star VIP guest experience - the Boss Emotion Club - delivering a full-service event from beginning to end entertaining VIP race fans and A- listers alike with fine dining, entertainment and on and off-track premium experiences. ■ In 2022, we expanded the fan engagement to include the "E-Village" - a brand activation space of immersive Formula E experiences open to every race fan across the season finale race in London getting them closer to the action than ever before. ■ The result? Sustainable design creation, groundbreaking fan engagement and an all-electric premium hospitality experience. FIA Formula.e CHAMPIONSHIP Panssonde AVALANCHE Προαπάτηση ADENNIS DF 45 VIAD#46Spiro SUCCESS STORIES: Part of the GES Collective FINDING BEAUTY IN SCIENCE THROUGH TECHNOLOGY For over a century, L'Oréal has been dedicated to one sole vocation: creating beauty. Partnering with the brand at the American Academy of Dermatology appearance in 2023, we brought to life the brand's goal to offer life-changing & sustainable dermatological solutions to all. L'ORÉAL Creating a multi-brand, groundbreaking experiential village, our design was eye-catching, memorable, and on point with every community-led brand story in their diverse portfolio. ■ Reflecting the brand's commitment to beauty, science and technology we created a world-first for the brand with a bespoke multi-use digital centerpiece. that gravitated audiences to the wider technologically driven L'Oréal experiences and brand communications we managed for them at the show. From the digital content to the groundbreaking build, we focused on sustainable design, creating a huge array of modular experience structures that could be used by the L'Oréal brand teams across the US and around the globe. LAROCHE-POS TOLOGICAL BEAUTY Ve 1ATOLOGICAL BEAUTY Ve LIPIKAR = Lipids and Keratin "Lippy-Car CeraVe SNAP AND SHARE LAROCHEPOSAY #AAD2023 LAROCHE POSAY FURNESS THE POWER OF MICROBIOME SCIENCE VICHY 46 VIAD#47GES EXHIBITIONS: WHAT WE DO Specializing in providing strategic and logistics solutions to leading exhibition and conference organizers and exhibitors through exclusive and discretionary services: EXCLUSIVE SERVICES ORGANIZERS ■ Event planning and production ■Look and feel design Layout and floor plan designs Furnishings and carpet ■Show traffic analysis ■ Marketing and strategy ■ Electrical distribution Cleaning ■ Plumbing EXHIBITORS ■ Material handling ■ Electrical distribution Cleaning Plumbing ■ Overhead rigging Booth rigging DISCRETIONARY SERVICES EXHIBITORS ■ Creative design and strategy Registration, data analytics, and insights Integrated marketing and pre/post event communications ■ Event surveys ■ Return on investment analysis ■ Online management tools Attendee/exhibit booth traffic analysis ■ Staff training Logistics/transportation ■ Exhibit booth rentals and storage/refurbishment Overhead rigging ■ Booth rigging ■ Graphics and signage ■Common area structures ■ Furnishings and carpet Installation and dismantling labor ■ Event accommodations 47 VIAD#48GES GEOGRAPHIC OVERVIEW 2022 REVENUE MIX ($828M TOTAL) North America EMEA 21% 79% Countries GES Serves GES facilities 48 VIAD#49GES SEASONALITY GES' exhibition and event activity can vary significantly from quarter to quarter and year to year depending on the frequency and timing of shows. Some shows are not held annually and some shift between quarters. GES Revenue (1) by Quarter ($M) 320 315 321 318 287 285 281 268 262 242 232 246 232 218 219 236 228 Q1 19 154 Q2 25 25 Q3 179 79 116 282 279 263 246 214 160 19 Q4 2016 2017 2018 2019 2020 2021 2022 2023 (1) Revenue has been adjusted in 2019 for immaterial errors related to the revenue recognition of GES' Corporate Accounts' third-party services, which are now reported on a net basis to reflect only the fees received for arranging these services. Note: GES revenue changes due to the frequency and timing of major non-annual shows, which include IMTS and MINExpo. During 2020, exhibition and event activity was largely cancelled or postponed after mid-March due to the COVID-19 pandemic. IMTS is a biennial show that occurs in the third quarter (cancelled in 2020). MINExpo is quadrennial show that occurs in the third quarter (2020 occurrence postponed to 2021). The Paris Air Show (occurs in the second quarter) and the Farnborough Air Show (occurs in the third quarter) are biennial shows that alternate years. CONEXPO-CON/AGG was the only major non-annual show that occurred as scheduled in March 2020 and will not be serviced by GES in 2023. 49 VIAD#50EXHIBITION INDUSTRY HAS PROVEN RESILIENT THROUGH PRIOR DOWNTURNS Live face-to-face events provide a powerful and cost-effective way to drive business growth, from transacting business, to building brand loyalty, and the rich connections created through in-person interactions are irreplaceable 9/11 Recession SARS US EXHIBITION INDUSTRY METRICS (1) INDEXED TO 2000 Recession COVID-19 1.2 1.0 0.8 0.6 0.4 0.2 0.0 2014 2013 2012 2011 -Exhibitors 2010 2007 2006 2005 2004 2003 2002 2001 Source: Center for Exhibition Industry Research (CEIR) (1) 2023 CEIR data for the US exhibition industry metrics are forecasted as of June 2023 2008 -Net Square Footage 2009 2000 GES 2015 2024 Est. 2023 Est. 2022 2021 2020 2019 2018 2017 2016 Attendees 50 50 VIAD