Lindblad Expeditions Holdings Inc. · NASDAQ:LIND
Lindblad Expeditions — Merger or Acquisition (March 2021)
24 slides from Lindblad Expeditions's merger presentation, Mar 9, 2021
Slide 1: Lindblad Expeditions Growth Platform Expansion
LINDBLAD EXPEDITIONS GROWTH PLATFORM EXPANSION March 9, 2021
Slide 2: Disclaimer
Disclaimer This presentation (including any oral statements transmitted to the recipients of this presentation) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s current expectations about its
Slide 3: Lindblad: Expanding Growth Opportunities
Lindblad: Expanding Growth Opportunities Lindblad is expanding its position as a leader in providing world-class expedition and adventure travel experiences through the acquisitions of Off the Beaten Path and Duvine Cycling + Adventure Co. Natural Habitat 1
Slide 4: The Lindblad Platform Advantage
The Lindblad Platform Advantage Lindblad’s unique position in the Adventure Tourism Market enables it to drive superior results for its brands 1. Internal cross-selling and lead generation 2. More guest data & insights 3. Increased customer lifetime value 4. Deeper relationships across all sales & d
Slide 5: Adding Two New Growth Drivers
Adding Two New Growth Drivers Off the Beaten Path and DuVine Cycling + Adventure Co. will expand Lindblad’s product offerings, providing more... Experiences Guests Wallet Share Revenue Profit 3
Slide 6: Natural Habitat Acquisition Has Proven Ability to Create Shareholder Value Through M&A
Our Acquisition of Natural Habitat Has Proven Our Ability to Create Significant Shareholder Value Through M&A Track Record of Growing Complimentary Businesses Through the Lindblad Platform Revenue Growth Adjusted EBITDA Growth +55% +122% $80M $10M $8.7 $70.7 $9M $70M $8M $63.4 $7.0 $60M $7M $49.7.7
Slide 7: Expanding Reach in the Large, High-Growth Adventure Tourism Market
Lindblad is Expanding its Reach in the Large, High-Growth Adventure Tourism Market 17.8% Projected Adventure Tourism CAGR 2021 through 2026 Global Adventure Tourism Market Size Global Cruise Global Adventure 2026 (Projected) Market Size 2019 Tourism Market Size 2019 $45B $683B $1.8T < 1% Adventure T
Slide 8: Ingredients of Adventure Tourism
Ingredients of Adventure Tourism Experiential Active Unique Educational Wellness Nature Sustainability Food & Wine Culture Sources: North American Adventure Travelers: Seeking Personal Growth, New Destinations, and Immersive Culture (ATTA, East Carolina University, Outside magazine) 6
Slide 9: Lindblad Audience Aligns with Adventure Travel Market
Lindblad Audience Aligns with Adventure Travel Market Lindblad’s primary guest demographic (79% 50+ yrs old) We have significant room to grow in the 30-50 demographic, which accounts for half of the adventure travel market accounts for nearly 40% of the adventure tourism market <30 <30 16% 16% 50+ 5
Slide 10: Expanding Our Experiences
Expanding Our Experiences The addition of Duvine and Off the Beaten Path to Lindblad’s brand portfolio broadens our addressable market, diversifies our product offerings for existing guests and will drive additional shareholder value Natural Habitat 8
Slide 11: Complementary Brands / Guests Across Companies
` Complementary Brands / Guests Across Companies Natural Habitat Focus Area Nature / Wildlife Nature / Wildlife Cycling Tours Outdoor Adventure Cruise, Culture Land-Based Expedition Culture & Culinary & National Parks Attractive Target Demo Affluent 55 - 70+ yrs Affluent 55 - 70+ yrs Affluent 50 - 6
Slide 12: Why DuVine Cycling + Adventure Co.
Why DuVine Cycling + Adventure Co. 1. Strong, trusted, affluent brand that is complementary to Lindblad 2. Explosion of cycling market 3. Significant cross-selling opportunities throughout Lindblad platform 4. Limited companies of scale in the bike touring space 5. Opportunity to create hybrid itine
Slide 13: Explosive Cycling Market Growth
Explosive Cycling Market Growth Fueled by Bicycle & E-Bike Sales and Spin Class Participation Momentum Health & Wellness Trends E-Bike Growth Bicycle Sharing Programs Covid-19 Driven Demand Surge Cycling Based Workout Classes More Active / Older Population Bike-Friendly Urban Sustainability Trends P
Slide 14: Strong Growth for Global Bicycle Sales
Strong Growth for Global Bicycle Sales U.S. Bicycle Sales Grew 62% in Jan - Oct 2020 May 18, 2020 Global Bicycle Units Sold Thinking of Buying a Bike? 2020 2030 Get Ready for a Very Long Wait July 24, 2020 The Great Bicycle Boom of 2020 50% Growth 36M 53M January 16, 2021 The Pandemic Bike Boom Is H
Slide 15: Rapid Growth of E-Bike Market
Rapid Growth of E-Bike Market U.S. E-Bike market exploding, with +140% YoY growth in Jan-Oct 2020 The market has grown over 8x since 2014 Expands bike touring opportunity and accessibility to wider audience 5.8X 19.0M Projected U.S. Market Market Size 2026 Size 2019 $24B $47B 12.2M 5.6M 3.3M 2015 20
Slide 16: Explosive Peloton / Spin Class Growth is Accelerating Popularity of Cycling
Explosive Peloton / Spin Class Growth is Accelerating Popularity of Cycling Cycling-based workout Connected Fitness Subscriptions 1,091 Total Workouts 76,800 growth is increasing demand 886 CAGR 107% CAGR 213% for cycling experiences 712 44,200 562 511 457 362 24,300 17,988 19,200 276 17,759 245 217
Slide 17: DuVine: Award Winning Cycling Brand
Duvine: Award Winning Cycling Brand DuVine’s world class luxury bike tours focus on exceptional food and wine experiences, thoughtfully designed itineraries, and top-quality gear and support 15
Slide 18: What Makes DuVine Extraordinary
What Makes Duvine Extraordinary Local Guides Food + Wine Acommodations Guides are locals who speak the language, Tours have a culinary-forward focus: tucked- Hand-selected luxurious hotels and boutique know the roads, and share their lifelong away restaurants, cooking classes, Michelin- properties t
Slide 19: Why Off the Beaten Path
Why Off the Beaten Path 1. Strong, trusted affluent brand that is complementary to Lindblad 2. Long-term growth and popularity of U.S. National Parks, which has accelerated due to Covid 3. Unique access to U.S. National Park lodging and permit inventory 4. Significant cross-selling opportunities thr
Slide 20: Off the Beaten Path Overview
Off the Beaten Path Overview Off the Beaten Path offers active small-group and private custom journeys around the world, with a long-standing focus on U.S. National Parks and a well-earned reputation for delivering exceptional experiences that connect the heart of the traveler with the soul of the p
Slide 21: Strong National Park Attendance
Strong National Park Attendance Recreational Visits to US National Parks 2008 - 2019 2008 2019 275M 328M Yellowstone, Grand Teton, Zion National Parks all experienced record attendance Sep & Oct 2020 Source: National Parks Service 19
Slide 22: What Makes Off the Beaten Path Extraordinary
What Makes Off the Beaten Path Extraordinary It’s Your Trip Small Group Adventures Sage Guides Small group journeys are small, flexible, and Average of 8 to 10 travelers per trip for optimal The region’s best guides. Experienced, customizable. Ensure the one you choose is a guide to client ratio, di
Slide 23: On the Horizon
On the Horizon Acquisitions of Duvine & Off the Beaten Path are the latest building blocks for Lindblad’s robust growth strategy, which includes: 1. Adding New Ship Capacity 2. Organic Growth in Core Business 3. New Destinations & Experiences 4. Additional Acquisition Opportunities 5. Expanding Digi
Slide 24: Thank You
Thank You
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