Ann: Ardent Leisure enters into partnership transaction, page-3

ARDENT LEISURE ENTERS INTO PARTNERSHIP TRANSACTION WITH REDBIRD CAPITAL PARTNERS FOR MAIN EVENT ENTERTAINMENT

• US$80million investment to acquire a 24.2% interest in Main Event Entertainment via a preferred equity investment into Ardent Leisure’s wholly owned U.S.-based subsidiary for its Main Event business

• RedBird has the option to acquire an additional 26.8% interest at a future date – valuation based upon 9.0x LTM Normalised Pro Forma EBITDA at the time of exercising the option, subject to a minimum equity floor price

• Transaction represents Ardent Leisure’s success in securing a partnership with a leading U.S. private investment firm that will enhance Main Event’s liquidity and capacity to invest in future growth while also bringing additional expertise and opportunities to Main Event

• Main Event has obtained significant support from lenders, including near-term covenant relief

• 28 of 44 Main Event centres have reopened