A MESSAGE FROM OUR CEO

As the President and CEO of Viad Corp, I have the privilege of leading two vital and dynamic businesses that are executing on exciting growth strategies. While the businesses offer starkly different services, they do share a common theme of providing unforgettable experiences to the clients and guests we serve. Enhancing the customer experience is at the core of all our services and our teams are striving daily to build lasting relationships based on trust and shared goals. This commitment has led to consistently high client retention at GES and high TripAdvisor ratings within Pursuit, as well as various awards and recognition for both business units.

In early 2014, we laid out compelling strategies for both business units to strengthen the underlying business and drive significant shareholder returns. I am proud to state that we are executing extremely well on our goals and objectives, which have helped to bolster GES’ competitive position and provide scale to our high-margin Pursuit business.

At GES, our goal is to broaden our suite of live event services toward higher margin and higher growth adjacencies. Over the past few years, we have expanded our Event Technology and Audio Visual offerings through a combination of organic initiatives and strategic acquisitions, which has resulted in accelerated top-line growth and improved profitability. In addition, these acquisitions provide us a solid platform to cross-sell into our existing client base and improve our overall value proposition. As we position GES as the preferred global, full-service provider for live events, we will continue to evolve with the needs and wants of our customers to deliver epic events that engage and delight.

At Pursuit, our goal is to add meaningful scale to the business through our “Refresh, Build, Buy” initiatives, while maintaining or improving our strong EBITDA margins. Since 2010, we have added eight lodging assets and three attractions to our portfolio of offerings. During the same time frame, we have embarked upon major “Refresh” projects at both our lodging assets and attractions, which have resulted in an improved guest experience and enhanced profitability of the portfolio as a whole. In addition, we have strengthened revenue management efforts and systems to maximize yield across our portfolio of high-quality assets.

Overall, we have a clear strategy for both of Viad’s leading business units, and a strong balance sheet and cash flows that allow us the flexibility to invest in these strategies. I am very proud of the progress we are making and looking ahead, we anticipate these strategic initiatives to enhance shareholder value and be the key drivers of our growth and profitability. Over the long-term, we expect to grow GES’ non-Exhibition services to represent approximately 50% of GES revenues and we expect to scale Pursuit to ≥$250 million in annualized revenues. None of this would be possible without the team of passionate, talented people who are dedicated to delivering memorable experiences for our customers every day.

Thank you for your interest in Viad.