1. 1 Finance & Insurance - In the world of leisure Tony Clish Sales & Marketing Director Park Holidays UK

2. Circa 3,500 parks – big & small Few major groups – Haven, Parkdean, Park Holidays UK etc Groups own larger parks – 400+ pitches Sell holidays Sell caravan holiday homes (static caravans / lodges) Circa 60,000 sold PA new & used Annual owner site fees Operate bars, swimming pools, provide entertainment

3. Established 1985 1985 - 2006 - grew to 19 holiday parks ‘BIMBO’ 2006 – Graphite Capital Private Equity 2006 – 2008 – grew to 23 holiday parks Secondary MBO 2013 – Caledonia Investments 2013 – £21M EBITDA (2006 £10M)

4. Thing’s ain’t what they used to be!

5. 5 We sell circa 80,000 holidays a year……. -Price £69 - £1,000 -No finance -No external insurance -Sell ‘cancellation protection’ – self insured risk -£10 short break / £20 week -15% penetration -Cancellation cover - sales falling in later booking pattern

6. 6 We sell circa 80,000 holidays a year……. -Price £69 - £1,000 -No finance -No external insurance -Sell ‘cancellation protection’ – sell insured risk -£10 short break / £20 week -15% penetration -Sales falling in later booking pattern NOT VERY EXCITING!!!!!!

8. Selling Caravan Holiday Homes… Spot the difference……… - High volume - Often low margin - Selling location not important - They move (or should do!) - Cars highly branded - Glass’s guide values - Low volume – limited supply - High margin - Location crucial - They don’t move -Minimal brand awareness - Glass’s guide values - Hybrid of car / house market

9. 9 Park Holidays UK sell circa 2,000 caravans a year… -Price £6900 - £200,000 -Finance penetration 42% -Average balance £20,000 -5 – 10 year term -5.5% - 7% flat -10% + deposit

10. 10 We sell circa 2,000 caravans a year……. -Price £6900 - £200,000 -Finance penetration 42% -Average balance £20,000 -5 – 10 year term (20 year pitch licence) -5.5% - 7% flat -10% + deposit -ACCEPTANCE RATE CIRCA 50% -A BIG OPPORTUNITY TO GROW!!!

11. 11 Our customers……. -Typically aged 50 – 70 -Live max 2 hours drive from park -Multi- generation buying decision / lifestyle -Have holidayed on the park in past – like location -Flexible retirement / lifestyle -C1 / C2 / D -Blue collar workers / self employed etc -Niche locations – each park different

12. 12 The Caravan Finance Market ……. - Defined as Holiday Homes, Touring Caravans & Motorhomes - In total £300M - £325M - Max advance linked to Glass’s Guide – typically 185% - Term 5 – 10 years - Low penetration 20% - Bad debt provision 1.5% - 1.8% typical - Black Horse 75-80% market share - Other lenders - Barclays / Close Consumer Finance/ Santander/ Hitachi / Ratesetter / Glenside

13. 13 Caravan Holiday Home Finance – -An opportunity for new lenders? -Static caravans are ‘static’!! Don’t disappear! -We offer risk protection – Repurchase Undertakings -Lending linked to caravan value Glass’s Guide etc -Park Holidays UK strong financial covenant – low gearing / profitable - GET IN TOUCH TO LEARN MORE!!