New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

Vista Group International / Equity Bottom-Up

<ul><li>US domestic box office revenues in May 2026 were solid, rising +10% versus an already strong 2025 comparable period to ~US$1.1bln.</li><li>Cumulative calendar year-to-date revenue is now tracking +13% up on the same period in 2025, consistent with the ~13% year-on-year uplift implied within management's FY26 guidance (US domestic box office take of US$9.75bln).</li><li>Our FY26 revenue forecast for VGL is NZ$179.2m, +9% on FY25 and near the midpoint of management's NZ$176m–NZ$182m revenue guidance range.</li></ul>

US domestic box office revenues in May 2026 were solid, rising +10% versus an already strong 2025 comparable period to ~US$1.1bln.Cumulative calendar year-to-date revenue is now tracking +13% up on the same period in 2025, consistent with the ~13% year-on-year uplift implied within management's FY26 guidance (US domestic box office take of US$9.75bln).Our FY26 revenue forecast for VGL is NZ$179.2m, +9% on FY25 and near the midpoint of management's NZ$176m–NZ$182m revenue guidance range.

Vista (VGL)—Solid May 2026 US Domestic Box Office