11

INVESTOR PRESENTATION

DECEMBER 2019

22

This presentation contains a number of forward-looking statements. Words, and variations of words, such as “will,” “may,” “expect,” “would,” “could,” “might,” “intend,” “plan,” “believe,” “estimate,” “anticipate,” “deliver,” “seek,” “aim,” “potential,” “target,” “outlook,” and similar expressions are intended to identify our forward-looking statements. Similarly, statements that describe our business strategy, outlook, objectives, plans, initiatives, intentions or goals also are forward looking statements. These forward-looking statements are not historical facts and are subject to a host of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those in the forward-looking statements. Important factors that could cause actual results to differ materially from those described in our forward-looking statements include, but are not limited to, the following:

• our ability to successfully integrate and achieve established financial and strategic goals from acquisitions;

• fluctuations in general economic conditions;

• our dependence on large exhibition event clients;

• the importance of key members of our account teams to our business relationships;

• the competitive nature of the industries in which we operate;

• travel industry disruptions;

• unanticipated delays and cost overruns of our capital projects, and our ability to achieve established financial and strategic goals for such projects;

• seasonality of our businesses;

• transportation disruptions and increases in transportation costs;

• natural disasters and other catastrophic events;

• the impact of recent U.S. tax legislation;

• our multi-employer pension plan funding obligations;

• our exposure to labor cost increases and work stoppages related to unionized employees;

• liabilities relating to prior and discontinued operations;

• adverse effects of show rotation on our periodic results and operating margins;

• our exposure to currency exchange rate fluctuations;

• our exposure to cybersecurity attacks and threats;

• compliance with laws governing the storage, collection, handling, and transfer of personal data and our exposure

to legal claims and fines for data breaches or improper handling of such data;

• the effects of the United Kingdom’s exit from the European Union; and

• the effects of changes in the U.S. trade policy.

For a more complete discussion of the risks and uncertainties that may affect our business or financial results, please see Item 1A, “Risk Factors,” of our most recent annual report on Form 10-K filed with the SEC. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this presentation except as required by applicable law or regulation.

FORWARD-LOOKING STATEMENTS

33

NON-GAAP FINANCIAL MEASURES

This document includes the presentation of “Income Before Other Items”, “Segment Operating Income”, and “Adjusted SegmentEBITDA”, which are supplemental to results presented under accounting principles generally accepted in the United States of America(“GAAP”) and may not be comparable to similarly titled measures presented by other companies. These non-GAAP measures areutilized by management to facilitate period-to-period comparisons and analysis of Viad’s operating performance and should beconsidered in addition to, but not as substitutes for, other similar measures reported in accordance with GAAP. The use of these non-GAAP financial measures is limited, compared to the GAAP measure of net income attributable to Viad, because they do not considera variety of items affecting Viad’s consolidated financial performance as explained below. Because these non-GAAP measures do notconsider all items affecting Viad’s consolidated financial performance, a user of Viad’s financial information should consider netincome attributable to Viad as an important measure of financial performance because it provides a more complete measure of theCompany’s performance.

Income Before Other Items is defined by management as net income attributable to Viad, before income/loss from discontinuedoperations, restructuring charges/recoveries, impairment charges/recoveries, acquisition transaction-related costs, integration costs,other non-recurring expenses and tax matters. Segment Operating Income is defined by management as net income attributable toViad before income (loss) from discontinued operations, corporate activities, interest expense and interest income, income taxes,restructuring charges, impairment losses and recoveries, and the reduction/increase for income/loss attributable to non-redeemableand redeemable non-controlling interest. Segment operating income is utilized by management to measure the profit andperformance of Viad’s operating segments to facilitate period-to-period comparisons. Income Before Other Items and SegmentOperating Income are considered useful operating metrics, in addition to net income attributable to Viad, as potential variationsarising from non-operational expenses/income are eliminated, thus resulting in additional measures considered to be indicative ofViad’s performance.

Adjusted Segment EBITDA is defined by management as segment operating income (defined above) before acquisition integrationcosts and non-cash depreciation and amortization. Adjusted Segment EBITDA is considered a useful operating metric, in addition tonet income attributable to Viad, as potential variations arising from non-recurring integration costs, non-cash amortization anddepreciation, and non-operational expenses/income are eliminated, thus resulting in an additional measure considered to beindicative of Viad’s segment performance. Management believes that the presentation of Adjusted Segment EBITDA provides usefulinformation to investors regarding Viad’s results of operations for trending, analyzing and benchmarking the performance and valueof Viad’s business. Management also believes that the presentation of Adjusted Segment EBITDA for acquisitions and the GlacierSkywalk enables investors to assess how effectively management is investing capital into major corporate development projects, bothfrom a valuation and return perspective.

44

NON-GAAP FINANCIAL MEASURES, CONTINUED

Note: Certain amounts above may not total due to rounding.

INCOME BEFORE OTHER ITEMS

Millions (except per share amounts) 2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018

Net Income Attributable to Viad 21.6 52.4 26.6 42.3 57.7 49.2 1.06$ 2.59$ 1.32$ 2.09$ 2.83$ 2.40$

(Income) Loss from Discontinued Operations Attributable to Viad (2.1) (11.6) 0.4 0.7 0.3 (1.5) (0.10) (0.57) 0.02 0.03 0.01 (0.07)

Income from Continuing Operations Attributable to Viad 19.4 40.8 27.0 43.0 58.0 47.7 0.96 2.02 1.34 2.12 2.84 2.33

Other Items:

Restructuring Charges, pre-tax 3.8 1.6 3.0 5.2 1.0 1.6 0.19 0.08 0.15 0.26 0.05 0.08

Impairment Charges (Recoveries), pre-tax 2.8 0.9 0.1 0.2 (29.1) - 0.14 0.04 - 0.01 (1.43) -

Acquisition-Related and Other Non-Recurring Expenses, pre-tax1

- 7.6 3.0 2.3 1.3 1.7 - 0.38 0.15 0.12 0.06 0.08

Tax (Benefit) Expense on Above Items (2.3) (3.8) (2.2) (2.5) 7.4 (0.7) (0.12) (0.18) (0.11) (0.13) 0.37 (0.03)

Adjustment Related to Tax Reform - - - - 16.1 (3.1) - - - - 0.79 (0.15)

(Favorable) Unfavorable Tax Matters (0.4) (12.0) (1.6) - (1.2) 0.9 (0.02) (0.59) (0.07) - (0.06) 0.05

Net Loss Attributable to FlyOver Iceland Noncontrolling Interest - - - - (0.1) (0.3) - - - - - (0.02)

Income Before Other Items 23.3$ 35.2$ 29.3$ 48.2$ 53.5$ 47.7$ 1.15$ 1.75$ 1.46$ 2.38$ 2.62$ 2.34$

1 Includes the following items (pre-tax)

Acquisition Integration Costs - Included in segment operating income (loss)0.8$ Included in segment operating income (loss)0.9$ 1.1$ 0.3$ 0.2$ Included in segment operating income

Acquisition Transaction-Related Costs - Pursuit - Included in segment operating income (loss)- Included in segment operating income (loss)- 0.5 0.2 0.1 Included in segment operating income

Acquisition Transaction-Related Costs - Corporate - Included in corporate activities4.1 Included in corporate activities1.4 0.6 0.6 0.6 Included in corporate activities

Shareholder Nomination and Settlement Agreement Costs - Included in corporate activities- Included in corporate activities0.7 - - - Included in corporate activities

CEO Transition Costs - Included in corporate activities2.7 Included in corporate activities- - - - Included in corporate activities

FlyOver Iceland Start-Up Costs - Included in segment operating income (loss)- Included in segment operating income (loss)- - 0.1 0.9 Included in segment operating income

Fire-related business interuption expense - Included in segment operating income (loss)- Included in segment operating income (loss)- 0.1 - - Included in segment operating incomeAcquisition-Related and Other Non-Recurring Expenses -$ 7.6$ 3.0$ 2.3$ 1.3$ 1.7$

INCOME BEFORE OTHER ITEMS INCOME BEFORE OTHER ITEMS PER SHARE

55

NON-GAAP FINANCIAL MEASURES, CONTINUED

Note: Amounts presented above reflect the retrospective adoption of ASU 2017-07, which Viad adopted on January 1, 2018. Certain amounts above may not total due to rounding.

ADJUSTED SEGMENT EBITDA and SEGMENT OPERATING INCOME

GES PURSUIT VIAD TOTAL

Millions 2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018

Net Income Attributable to Viad $ 21.6 $ 52.4 $ 26.6 $ 42.3 $ 57.7 $ 49.2

Net Income Attributable to Noncontrolling Interest 0.1 3.2 0.4 0.5 0.5 0.5

Net Loss Attributable to Redeemable Noncontrolling Interest - - - - (0.1) (0.3)

Loss (Income) from Discontinued Operations (2.4) (14.4) 0.4 0.7 0.3 (1.5)

Income Tax Expense 8.3 0.1 10.5 21.3 45.9 17.1

Net Interest Expense 0.7 1.7 3.9 4.7 8.0 9.3

Other Expense 1.7 1.4 1.8 1.7 2.0 1.7

Impairment Charges (Recoveries) 3.0 0.9 0.1 0.2 (29.1) -

Restructuring Charges 3.8 1.6 3.0 5.2 1.0 1.6

Corporate Activities & Eliminations 6.0 13.8 8.8 10.3 12.3 10.9

Segment Operating Income $ 20.9 $ 32.6 $ 27.6 $ 51.1 $ 50.7 $ 39.6 $ 22.0 $ 28.2 $ 27.8 $ 35.8 $ 47.9 $ 48.9 $ 42.9 $ 60.8 $ 55.5 $ 86.9 $ 98.6 $ 88.5

Segment Depreciation 19.6 20.0 20.2 21.3 26.4 28.5 6.9 7.9 7.7 12.1 16.1 17.2 26.5 27.9 27.9 33.4 42.5 45.6

Segment Amortization 0.8 2.4 6.9 8.3 10.8 9.5 0.4 0.4 0.3 0.9 1.6 1.5 1.3 2.7 7.2 9.2 12.4 11.0

FlyOver Iceland Start-up Costs - - - - - - - - - - 0.1 0.9 - - - - 0.1 0.9

Fire-related Business Interruption Matters - - - - - - - - - 0.1 - - - - - 0.1 - -

Acquisition Integration & Transaction Costs - 0.8 0.9 0.6 0.2 0.2 - - - 1.1 0.4 0.1 - 0.8 0.9 1.6 0.5 0.3

Adjusted Segment EBITDA $ 41.4 $ 55.7 $ 55.6 $ 81.2 $ 88.2 $ 77.7 $ 29.3 $ 36.4 $ 35.8 $ 49.9 $ 66.0 $ 68.6 $ 70.7 $ 92.1 $ 91.4 $ 131.1 $ 154.2 $ 146.3

Adjusted Segment EBITDA Attributable to Noncontrolling Interest - - - - - - (0.8) (1.0) (1.0) (1.2) (1.1) (1.1) (0.8) (1.0) (1.0) (1.2) (1.1) (1.1)

Adjusted Segment EBITDA Attributable to Viad $ 41.4 $ 55.7 $ 55.6 $ 81.2 $ 88.2 $ 77.7 $ 28.5 $ 35.5 $ 34.9 $ 48.7 $ 64.9 $ 67.5 $ 69.9 $ 91.2 $ 90.5 $ 129.9 $ 153.0 $ 145.2

Revenue $ 844.9 $ 944.5 $ 976.9 $ 1,054.7 $ 1,133.1 $ 1,110.9 $ 108.4 $ 120.5 $ 112.2 $ 153.4 $ 173.9 $ 185.3 $ 953.3 $ 1,065.0 $ 1,089.0 $ 1,205.0 $ 1,307.0 $ 1,296.2

Adjusted Segment EBITDA Margin 4.9% 5.9% 5.7% 7.7% 7.8% 7.0% 27.0% 30.2% 31.9% 32.5% 38.0% 37.0% 7.4% 8.7% 8.4% 10.9% 11.8% 11.3%

66

NON-GAAP FINANCIAL MEASURES, CONTINUED

FORWARD-LOOKING NON-GAAP FINANCIAL MEASURES

We have also provided the following forward−looking non−GAAP financial measures: Adjusted Segment EBITDA and Adjusted Segment EBITDA Margin. We do not providereconciliations of these forward−looking non−GAAP financial measures to the most directly comparable GAAP financial measures because, due to variability and difficulty inmaking accurate forecasts and projections and/or certain information not being ascertainable or accessible, not all of the information necessary for quantitativereconciliations of these forward−looking non−GAAP financial measures to the most directly comparable GAAP financial measures are available to us without unreasonableefforts. Consequently, any attempt to disclose such reconciliations would imply a degree of precision that could be confusing or misleading to investors. It is probable thatthe forward−looking non−GAAP financial measures provided without the directly comparable GAAP financial measures may be materially different from the correspondingnon−GAAP financial measures.

EBITDA FROM ACQUISITIONS and THE GLACIER SKYWALK

Millions

Net Income Attributable to Viad $ 49.2

Net Income Attributable to Noncontrolling Interest 0.5

Net Loss Attributable to Redeemable Noncontrolling Interest (0.3)

Loss from Discontinued Operations (1.5)

Income Tax Expense 17.1

Net Interest Expense 9.3

Other Expense 1.7

Impairment Recoveries -

Restructuring Charges 1.6

Corporate Activities & Eliminations 10.9

Segment Operating Income (Loss) $ (0.1) $ 39.7 $ 39.6 $ 11.5 $ 6.2 $ 31.2 $ 48.9 $ 88.5

Segment Depreciation 10.7 17.8 28.5 6.8 0.3 10.1 17.2 45.6

Segment Amortization 9.4 0.1 9.5 1.4 - 0.1 1.5 11.0

FlyOver Iceland Start-up Costs - - - 0.9 - - 0.9 0.9

Acquisition Integration & Transaction Costs 0.2 - 0.2 - - 0.1 0.1 0.3

Adjusted Segment EBITDA $ 20.1 $ 57.6 $ 77.7 $ 20.6 $ 6.5 $ 41.5 $ 68.6 $ 146.3

Adjusted Segment EBITDA Attributable to Noncontrolling Interest - - - (0.5) - (0.6) (1.1) (1.1)

Adjusted Segment EBITDA Attributable to Viad $ 20.1 $ 57.6 $ 77.7 $ 20.1 $ 6.5 $ 40.9 $ 67.5 $ 145.2

Revenue $ 136.2 $ 974.7 $ 1,110.9 $ 54.4 $ 7.5 $ 123.4 $ 185.3 $ 1,296.2

Adjusted Segment EBITDA Margin 14.8% 5.9% 7.0% 37.9% 86.1% 33.6% 37.0% 11.3%

Note - Certa in amounts above may not tota l due to rounding1 GES acquis i tions include: Bl i tz Communications , onPeak, Travel Planners , and N200 (a l l acquired in 2014); ON Services (acquired in 2016); and Poken (acquired in 2017).2 Pursuit acquis i tions include: the West Glacier Properties (acquired in 2014); Mal igne Lake Tours , CATC, and FlyOver Canada (a l l acquired in 2016); and FlyOver Iceland (acquired in 2017); and Mal igne Canyon (acquired in 2018).

Acquisitions1

Year Ended December 31, 2018

GES PURSUIT

VIAD TOTALGlacier

SkywalkAcquisitions2 All Other TotalTotalAll Other

77

Introduction to Viad 8 - 11

GES 12 - 19

Pursuit 20 - 29

Summary 30 - 33

Appendix 34 – 41 Contents

88

T O TAL S H AR E H O L D E R R E T U R N( 4 / 3 0 / 1 4 T O 1 1 / 3 0 / 1 9 )

INTRODUCTION TO VIAD

V I A D I S A N S & P S M A L L C A P 6 0 0 C O M PA N Y W I T H A C L E A R S T R AT E G Y F O R D R I V I N G

G R O W T H A N D S H A R E H O L D E R VA L U E

• Leading and defensible market positions

• Recurring revenues and strong free cash flows

• Experienced management team focused on shareholder value creation

• Proven strategy and strong growth prospects

S&P SmallCap 600

64.4%

Viad 189.5%

Russell 2000 55.6%

I N V E S T M E N T H I G H L I G H T S

(50%)

0%

50%

100%

150%

200%

250%

Apr-14 Apr-15 Apr-16 Apr-17 Apr-18 Apr-19 Nov-19

99

INTRODUCTION TO VIAD

86%

14%

GES Pursuit

REVENUE$1.3B

ADJUSTED SEGMENT EBITDA1

$146.3M

53%47%

2018

1 Refers to Adjusted Segment EBITDA. Refer to pages 3-6 for important disclosures regarding this non-GAAP measure.

GES is a global, full-service

live events company offering a comprehensive range of services to help clients gain a greater return from their events and enhance the exhibitor and attendee experience.

Pursuit is a collection of

inspiring and unforgettable experiences that includes world-class attractions, distinctive lodges, and sightseeing tours that enable visitors to discover and connect with iconic destinations.

V I A D G E N E R AT E S R E V E N U E A N D S H A R E H O L D E R VA L U E T H R O U G H I T S

T W O B U S I N E S S U N I T S

G E S

P U R S U I T

1010

STRATEGIC GOALS

V I A D I S E X E C U T I N G A F O C U S E D G R O W T H S T R AT E G Y T O E N H A N C E S H A R E H O L D E R VA L U E

T H R O U G H S M A R T C A P I TA L A L L O C AT I O N A N D E F F I C I E N T LY R U N N I N G A N D P O S I T I O N I N G

O U R B U S I N E S S E S F O R M O R E S T R AT E G I C O P T I O N S , I N C L U D I N G A P O T E N T I A L S E PA R AT I O N

Scale to $250M+ in revenue($185M in 2018)

Leverage professional team and systemsMaintain strong Adjusted Segment EBITDA1 margin

(37% in 2018)

Transform into full-service live event company• ~50% of revenue from non-Exhibition segments (41% in 2018)• ≥$250M in revenue from AV and Event Technologies ($136M in 2018)

Grow revenue mid-single digits (same-show)Increase Adjusted Segment EBITDA1 margin to ~8%

w/o benefit of major non-annual shows2 (5.9% in 2018)

1 Refers to Adjusted Segment EBITDA. Refer to pages 3-6 for important disclosures regarding this non-GAAP measure.2 Major non-annual shows include IMTS (every two years), CONEXPO-CON/AGG (every three years) and MINExpo (every four years).

G E S

P U R S U I T

1111

$428M

1 Refers to Adjusted Segment EBITDA. Refer to pages 3-6 for important disclosures regarding this non-GAAP measure.2 Includes $31.5M insurance proceeds received for the reconstruction of the Mount Royal Hotel.3 Net of proceeds from divestitures of non-strategic assets totaling $14.3M.4 Includes $81.3M of Special Dividends paid out in 2013-14 in connection with Viad’s Strategic Review.

V I A D ’ S S T R O N G E A R N I N G S G R O W T H A N D C A S H G E N E R AT I O N A L L O W F O R R E I N V E S T M E N T

I N T H E B U S I N E S S A N D R E T U R N O F C A P I TA L T O S H A R E H O L D E R S

($72M)

27.8%

38.5%

($156M)

32.2%

47.5%

$34M

3.2%

3.3%

($84M)

28.9%

40.6%

Net Cash (Debt)

Debt-to-Capital

Debt-to-Equity

Cash Generated

from Operations

$594MReinvestment

in Business $285.1M Capex2

$309.1M Acquisitions3

$161MReturned to

Shareholders$129.9M Dividends4

$31.6M Repurchases

2013 - 2018

STRONG EARNINGS GROWTH AND CASH GENERATION

~16%CAGR

Margin

($230M)

40.3%

67.6%

$70.7 $92.1 $91.4

$131.1 $154.2 $146.3

7.4%8.7% 8.4%

10.9%11.8% 11.3%

2013 2014 2015 2016 2017 2018

($188M)

34.0%

51.6%

AD J U S T E D S E G M E N T

E B I T D A 1( I N M I L L I O N S )

1212

1313

G L O B A L

R E A C H

L I V E

E V E N T S

F U L L -

S E R V I C E

P R O V I D E R

Addition of adjacent services creates a unique,

integrated offering to deepen client

relationships, expand client base, and increase

share of total event spend

P O S I T I O N G E S A S T H E P R E F E R R E D G L O B A L , F U L L - S E R V I C E P R O V I D E R F O R L I V E E V E N T S

Penetration into otherlive event segments extends industry leadership and leverages capabilities

Customer consolidation and continued global expansion creates increasing

demand for global capabilities

GES GROWTH STRATEGY

D R I V E E X P A N S I O N

I M P R O V E M A R G I N S

D I F F E R E N T I A T E

1414

GLOBAL LEADER IN EXHIBITIONS MARKET WITH OPPORTUNITY FOR GROWTH

E S T A B L I S H E D P O S I T I O N 1 I N K E Y G L O B A L M A R K E T S

R E C O G N I Z E D A B I L I T Y T O S E R V I C E B R O A D E R G E O G R A P H I E S

30% 55% 45%

US UK CANADA

1 GES official services contracting share of Exhibitions (internal estimates).2 Estimated revenue from events under contract as of 12/31/18.

Countries GES Serves

GES Facilities

H I G H L I G H T S

3-5 year contracts

90%+ renewal rate

Largest client is ~9% of GES revenue (2018)

Clients span broad range of industries; not overly exposed to any

given industry

> $1.9 billion2 future revenue contracted

1515

Congresses / Conferences

Exhibitions

LIVE EVENT SEGMENTS

Consumer Events

I N D U S T R Y L E A D E R S A L R E A D Y S E L E C T G E S I N E V E R Y L I V E E V E N T S E G M E N T

59%of Revenue1

24% 14% 3%

Corporate Events

of Revenue1

1 Percent of GES’ 2018 consolidated revenue.

of Revenue1 of Revenue1

1616

OPPORTUNITY FOR GROWTH IN HIGHER-MARGIN MARKET SEGMENTS

2.6

0.7

1.8

0.3 3.4

0.2

0.03

~$7.8B ~$1.1B

Profi

t M

arg

in

26%

15%

5%

Exhibitions

Conferences

Corporate

Events

Consumer

Events

Live Event MarketTotal Addressable Market1

GES 2018Market Share

MarketShare

L I V E E V E N T S I S A B I G M A R K E T A N D G E S I S U N D E R - P E N E T R AT E D I N K E Y S E G M E N T S

Leader in

Exhibitions

Low penetration in

Corporate Events

and Conferences

Higher margins in

Corporate Events

and Conferences

1 Total addressable market for events with more than 1,000 attendees in North America and the UK (GES’ major markets) based on internal estimates.

1717

OPPORTUNITY FOR GROWTH IN HIGHER-MARGIN SERVICES

1.9 1.2

1.3

0.4 0.5

1.7

0.2 0.05

0.4

~$2.6B ~$1.8B ~$3.4B

Exhibitions Conferences Corp Events

Total Addressable Market by Service1

MA

RG

IN

Core Services

Audio-Visual

Event Technology

G E S L E V E R A G E S I T S F U L L S U I T E O F S E R V I C E S T O D R I V E G R O W T H A C R O S S A L L L I V E E V E N T

C AT E G O R I E S , PA R T I C U L A R LY C O R P O R AT E E V E N T S W H E R E AV I S A L A R G E R P O R T I O N O F

T O TA L S P E N D

Contracting ServicesDesign & Build

Creative / Strategic

1 Total addressable market for events with more than 1,000 attendees in North America and the UK (GES’ major markets) based on internal estimates.

TotalAddressable

Market

$0.7B

$2.6B

$4.5B

AV is required to penetrate Corporate Events and Conferences

Cross-sell opportunities exist

Event Technology can be a larger addressable market worldwide with an SaaS model

1818

✓ Leading positions in U.S. and U.K.

✓ High-impact AV production across all Live Events

✓ Strong corporate event client base

✓ 2,500+ events

✓ Selected by over 40 venues to be the preferred provider

ACQUISITION OF NEW SERVICES IS FUELING GROWTH AND MARGINS

G E S H A S S T R AT E G I C A L LY I N V E S T E D I N A C Q U I S I T I O N S T O C R E AT E T H E M O S T

C O M P R E H E N S I V E S U I T E O F S E R V I C E S F O R T H E L I V E E V E N T S I N D U S T R Y,

A N D A M O R E C O M P E L L I N G O F F E R I N G T O P E N E T R AT E C O R P O R AT E E V E N T S

✓ Leading provider of end-to-end accommodation solutions ✓ Global and highly-scalable registration and data analytics

platform ✓ 4M room nights booked for 160+ clients ✓ ~4M pre-registrations processed at 1,000+ events in over

40 countries

Audio-Visual 2 Acquisitions

Event Technology 4 Acquisitions

Facilitating Growth in Corporate Events• Corporate event revenue grew

25% in 2018

Strong EBITDA Margins• ~10 percentage points higher

than Core Services

Substantial Growth Opportunity• ~4% market share in Audio-

Visual• ~6% market share in Event

Technology• ~5% market share in Corporate

Events

1919

GES IS DRIVING GROWTH AND MARGIN EXPANSION

B Y P O S I T I O N I N G G E S A S T H E P R E F E R R E D G L O B A L , F U L L - S E R V I C E P R O V I D E R F O R L I V E

E V E N T S , W E A R E D R I V I N G G R O W T H I N H I G H E R - M A R G I N S E R V I C E L I N E S , I N C R E A S I N G O U R

S H A R E W I T H I N T H E L I V E E V E N T S M A R K E T, A N D D I F F E R E N T I AT I N G G E S T O E N H A N C E

C U S T O M E R L O YA LT Y

+5.6% REVENUE CAGR2013-18

+13.4% EBITDA1 CAGR2013-18

+210 BPS EBITDA1 MARGIN EXPANSION2013-18

1 Refers to Adjusted Segment EBITDA. Refer to pages 3-6 for important disclosures regarding this non-GAAP measure.

ADJUSTED

ADJUSTED

2020

2121

R E F R E S H

to optimize guest experience, market position,

and maximize returns

B U I L D

to create new guest experiences & revenue streams

with economies of scale and scope

B U Y

strategic assets that drive guest experience, economies

of scale and scope, improving financial performance

TO B E C O M E T H E W O R L D ’ S L E A D I N G P R O V I D E R

O F E X P E R I E N T I A L A D V E N T U R E T R AV E L

H I G H L I G H T S

Strong margins, perennial demand,

unique assets, and a wide moat

Established track record of driving

enhanced guest experience

and strong financial returns

Proven ability to manage complex

renovation and development projects

PURSUIT GROWTH STRATEGY

2222

REFRESH, BUILD, BUY EFFORTS ARE DRIVING ENHANCED PERFORMANCE

P O S I T I O N P U R S U I T A S A L E A D I N G E X P E R I E N T I A L , A D V E N T U R E T O U R I S M P R O V I D E R A N D

S C A L E T H E B U S I N E S S T H R O U G H A R E F R E S H , B U I L D , B U Y F R A M E W O R K

1 Revenue derived from Pursuit’s Canadian operations has been translated at the 2018 full year average exchange rate for all years presented.2 Refers to Adjusted Segment EBITDA Margin. Refer to pages 3-6 for important disclosures regarding this non-GAAP measure.

BUY: $54M growth from acquisitions

of hotels and attractions during 2014-18

BUILD: $8M growth from Glacier

Skywalk attraction

REFRESH: ~10% CAGR from

existing hotels and attractions

TRIM: De-emphasized lower margin/return

Package Tours & Transportation

GAAP Revenue:$ 108.4 120.5 112.2 153.4 173.9 185.3

~15% REVENUE CAGR (CONSTANT CURRENCY)

Refresh Build Buy Trim

92.3 106.4 110.8

153.5

172.2 185.3

27.0%

30.2%31.9% 32.5%

38.0% 37.0%

2013 2014 2015 2016 2017 2018

C O N S TAN T C U R R E N C Y R E V E N U E 1 ( $ M )

& E B I T D A M AR G I N 2

2323

~ $ 2 2 M

I N V E S T M E N T

INCREASED CAPACITY

FOR GUESTS

25% more square feet

8,000 SF rooftop viewing deck

ENHANCED RETAIL

AND DINING OFFERINGS

Sit down and grab-and-go

New conference space for group events

STATE OF THE ART

INTERPRETIVE AREAS

New experiential areas including

high-definition theater

I M P R O V E M E N T V S .

P R E - R E N O V A T I O N

17%increase in visitors (2018)

43%increase in revenue/visitor (2018)

$9.7Mincrease in EBITDA1 in 2018

REFRESH – POSITIONING FOR HIGHEST AND BEST USE

W E A R E S U C C E S S F U L LY R E - P O S I T I O N I N G A S S E T S A C R O S S P U R S U I T ’ S P O R T F O L I O

F O R O P T I M A L R E T U R N S

Gondola’s new Sky Bistro rated #1 restaurant in Banff on TripAdvisor

B ANFF GONDOLA | RE - OPENED I N 2 0 16

~ $ 3 6 M

I N V E S T M E N T

FUNDED PRIMARILY FROM

INSURANCE PROCEEDS

Fire damage in 2016 enabled a

complete update of this ideally-

located hotel

MODERN DESIGN WITH

UPGRADED AMENITIES

M OUNT ROY AL HOTEL | RE - OPENED JULY 2 0 18I M P R O V E M E N T V S .

P R E - R E N O V A T I O N

30%increase in RevPAR (2018)

1 Refers to Adjusted Segment EBITDA. Refer to pages 3-6 for important disclosures regarding this non-GAAP measure.

2424

~$14Minvestment

controlling interest (51%)

of operating entity

protected ocean front lot

popular activity for Iceland tourists

easy access from Reykjavik

close proximity to

FlyOver Iceland

BUILD - POWERFUL NEW EXPERIENCES THAT DRIVE POWERFUL RETURNS

E X T E N S I V E A W A R D S

A N D M E D I A C O V E R A G E

I N V E S T M E N T A N DR E S U L T S

~$20Minvestment

~1.6Mvisitors since opening

~$6.5MEBITDA1 in 2018

GLA CIER S KY WALK JA SPER NA TIONAL P A RK | OP ENED M A Y 2 0 14

P R O V E N E X P E R T I S E I N B U I L D I N G A N D O P E R AT I N G W O R L D C L A S S AT T R A C T I O N S

1 Refers to Adjusted Segment EBITDA. Refer to pages 3-6 for important disclosures regarding this non-GAAP measure.

GEOTHERMAL LA GOON REY KJAVIC I C ELAND| OP ENING 2 0 21

I D E A L L O C A T I O N I N V E S T M E N T D E T A I L S

2525

F L Y O V E R

C A N A D A - V A N C O U V E R

F L Y O V E R

I C E L A N D 1

F L Y O V E R

L A S V E G A S

F L Y O V E R

C A N A D A - T O R O N T O

• ~11M Visitors to Vancouver

• 61 Seats

• ~$51M Purchase price

• 593K Passengers in 2018

• ~2.5M Visitors to Iceland

• 40 seats

• ~$12M Capex

• Opened August 29, 2019

• ~42M Visitors to Las Vegas

• 80 seats

• ~$40M Capex

• Opening 2021

• ~44.5M Visitors to Toronto

• 80 Seats

• ~$50M - $60M Capex

• Opening 2022

BUILD - FLYOVER IS A HIGH MARGIN GROWTH PLATFORM

P R O V E N C O N C E P T W I T H S T R O N G O R G A N I C G R O W T H O P P O R T U N I T Y

1 Viad holds 54.5% equity stake in FlyOver Iceland.Market visitation statistic sources: Tourism Vancouver (2018); Icelandic Tourist Board (2018); Las Vegas Convention and Visitors Authority (2018) ; and Tourism Toronto – Region (2018).

2626

BUY - ACQUISITIONS FUELING GROWTH WITH STRONG RETURNS

JANUARY2016

MARCH 2016

GLACIER

NATIONAL PARK

WEST GLACIER PROPERTIES

Lodging, F&B and Retail

JASPER NATIONAL

PARK

MALIGNE LAKE TOURS

Interpretive boat tours,

boat rentals, F&B, retail

KENAI FJORDS AND DENALI NATIONAL PARKS

CATC

Sightseeing boat tours,

3 lodging properties, F&B,

retail, travel planning

VANCOUVER,

BRITISH COLUMBIA

FLYOVER CANADA

Multi-sensory, virtual flight

ride experience, retail

DECEMBER2016

JULY2014

3 LEADING ATTRACTIONS

5 LODGING PROPERTIES

5 ACQUISITIONS

FOR $132M1

1 Acquisitions completed between 2014-2018; does not include acquisition of majority stake in Esja (Icelandic entity that is building the new FlyOver Iceland attraction) for ~$10M in 2017.2 Refers to Adjusted Segment EBITDA. Refer to pages 3-6 for important disclosures regarding this non-GAAP measure.

C O M P E L L I N G C O M B I N AT I O N O F AT T R A C T I O N S A N D H O S P I TA L I T Y A S S E T S

P R O V I D E C R O S S - S E L L I N G O P P O R T U N I T I E S A N D O P E R AT I O N A L S Y N E R G I E S

MARCH2018

JASPER NATIONAL

PARK

MALIGNE CANYON

F&B and Retail

$20.6M EBITDA2 IN 2018

2727

BUY - MOUNTAIN PARK LODGES

T R A N S A C T I O N D E T A I L S

• ~$76M purchase price

• 60% equity stake

H I G H L I G H T S

• 31% market share of Jasper

area bed base (735 rooms)

• Compelling cross-sell with

nearby attractions

• Revenue management and

refresh opportunity

• High barriers to entry

• Strong perennial demand

O N J U N E 8 , 2 0 1 9 , W E E X PA N D E D P U R S U I T ’ S B A N F F J A S P E R C O L L E C T I O N W I T H T H E

A D D I T I O N O F 7 L O D G I N G P R O P E R T I E S I N J A S P E R N AT I O N A L PA R K

* Refers to Adjusted Segment EBITDA. Refer to pages 3-6 for important disclosures regarding this non-GAAP measure. Adjusted EBITDA is inclusive of management fee income to Pursuit and does not reflect incremental profits anticipated from cross-sell opportunities with Pursuit’s existing attractions.

NEW PROPERTIES

EXISTING ATTRACTIONS

A D J U S T E D E B I T D A * ( E S T )

$9M - $10M TOTAL

$5.5M - $6.5M ATTRIBUTABLE TO VIAD

SHAREHOLDERS

$11.5M - $13.5M TOTAL

$7.5M - $8.5MATTRIBUTABLE TO VIAD

SHAREHOLDERS

2019

2020

June 8 through December

2828

O U R F O C U S

ATTRACTIONS

HOTELS

EXPERIENCES

RETAIL

FOOD & BEVERAGE

TECHNOLOGY

LEADERSHIP

CULTURE

I T ' S A B O U T G U E S T S AT I S FA C T I O N A N D E X P E R I E N T I A L I M P R O V E M E N T S T H AT D R I V E R E S U LT S

Selling the RIGHT PRODUCT

to the RIGHT CUSTOMER

at the RIGHT TIME

with the RIGHT PRICE

on the RIGHT DISTRIBUTION channel

with the best commission efficiency

R E V M A X

REVENUE MANAGEMENTFOR MAXIMUM YIELD

REFRESH, BUILD, BUY ISN’T JUST ABOUT BUILDINGS…

H O S P I TA L I T Y P H I L O S O P H Y

2929

PURSUIT IS DRIVING GROWTH AND MARGIN EXPANSION

B Y S T R AT E G I C A L LY I N V E S T I N G I N H O S P I TA L I T Y A N D AT T R A C T I O N A S S E T S ,

W H I C H H AV E T H E H I G H E S T M A R G I N S A N D A S T R O N G R E T U R N O N I N V E S T M E N T ,

P U R S U I T I S A D D I N G M E A N I N G F U L S C A L E T O T H E B U S I N E S S

+11.3% REVENUE CAGR2013-18

+18.6% EBITDA1 CAGR2013-18

+1,000 BPS EBITDA1 MARGIN EXPANSION2013-18

1 Refers to Adjusted Segment EBITDA. Refer to pages 3-6 for important disclosures regarding this non-GAAP measure.

ADJUSTED

ADJUSTED

3030

Summary

3131

VIAD – A COMPELLING INVESTMENT OPPORTUNITY

V I A D I S FAV O R A B LY - P O S I T I O N E D T O B E N E F I T F R O M A N U M B E R O F G R O W T H C ATA LY S T S

GES SHOW ROTATION IMPROVES1

PURSUIT GROWTH INVESTMENTS2

GES SHARE GAINS IN AV AND CORP EVENTS3

STRONG ACQUISITION PIPELINE4

2018 Actual 2019 Est 2020 Est

$(15) - $(20)

~100M

Expect ~$100M revenue increase from non-annual events in 2020

Expect incremental 2019 revenue of $29M -$31M from investments coming online this year

$4.3B addressable market with 4%

market share

2019

Proven ability to acquire at strong IRRs

AV - Other Events

Corp Events - Other Services

Corp Events - AV GES

Rest ofMarket

$0.9B TAM

$1.7B TAM

$1.7B TAM

(35M)

REFRESH: Maligne Lake & Canyon F&B and Retail; FlyOver Canada Exterior Structure; Glacier View Lodge

BUILD: FlyOver Iceland; West Glacier RV Park;Seward Windsong Lodge Expansion

BUY: Mountain Park Lodges; The Belton Chalet

BUILD: FlyOver Las Vegas, Geothermal Lagoon - Iceland

2022 BUILD: FlyOver Canada - Toronto

2021

3232

V I A D H A S A D I S C I P L I N E D A N D P R O A C T I V E A C Q U I S I T I O N P R O G R A M F O C U S E D O N

P R O P R I E TA R Y D E A L - S O U R C I N G I N S U P P O R T O F O U R B U S I N E S S U N I T S T R AT E G I E S T O

D R I V E S H A R E H O L D E R VA L U E

ACTIVE ACQUISITION PIPELINE WITH DISCIPLINED APPROACH

Culture requirements:

• Integrity

• Customer-focus

• Innovation

• Continuous improvement

Strong cultural alignment:

• Facilitates integration

• Enhances opportunities for cross-sell

and other synergies

ECONOMIC FIT

ProvenTrack Record

11 Acquisitions1

$335M Purchase Price$40.7M EBITDA2 in 2018~19% Average IRR3

Target IRR 15%+

CULTURAL FIT

STRATEGIC FIT

• New lines of business to drive penetration across all Live Events segments

• Products and services that are essential to Live Events while also supporting core contracting business

• Leading players with proven products • Immediate cross-sell opportunities

Pursuit• High-return tourism assets in iconic

destinations to scale the business• Prioritize current geographies to maximize

scale and scope but consider new geographies that bring meaningful scale and market share

• Seek a combination of attractions and hotels to realize cross-sell advantages

GES

1 Acquisitions completed between 2014-2018; does not include acquisition of majority stake in Esja (Icelandic entity that is building the new FlyOver Iceland attraction) for ~$10M in 2017.2 Refers to Adjusted Segment EBITDA. Refer to pages 3-6 for important disclosures regarding this non-GAAP measure.3 Assumes an exit multiple of 10X for Pursuit acquisitions and a perpetual growth rate of 2-3% for GES acquisitions.

3333

VIAD OPPORTUNITY SUMMARY

V I A D I S I N A S T R O N G P O S I T I O N T O E N H A N C E S H A R E H O L D E R VA L U E

TWO SOLID BUSINESS GROUPSSTRENGTH

Strong, proven foundation • Leading and defensible market positions

• Recurring revenue streams• Strong growth prospects with solid balance sheet

WELL-DEFINED GROWTH STRATEGIESVISIONClear plans for meaningful growth • GES: Differentiating as preferred global, full-service

provider for live events• Pursuit: Driving economies of scale and scope and

enhancing a unique portfolio of integrated tourism assets

BALANCED CAPITAL ALLOCATION STRATEGYPERFORMANCE

Focus on shareholder return • Business development remains the priority

• Opportunistically repurchase shares

• Pay quarterly dividend: $0.10 / share • Credit facility maximum leverage ratio: ≤3.5x1

1 For acquisitions ≥ $50 million step-up to 4.0x for 4 quarters, with one quarter cooling off period prior to another step-up

600,067 shares remaining under existing authorizations

3434

Appendix

3535

1987

Greyhound Lines, Inc. bus operations

LONG HISTORY OF STRATEGIC DIVESTITURES1

Over the last 30 years, Viad has spun-off or sold more than 20 lines of business, including:

1992

The FINOVA Group

1993

Motor Coach Industries

1996

The Dial Corp.

1997

Premier Cruise Lines

1999

Restaura dining service operations

1999

Dobbs Int’l Services airline food service

THOROUGH REVIEW OF STRATEGIC OPTIONS1

• Announced review of strategic options to enhance shareholder value (including possible separation of GES and Pursuit businesses and increasing dividends or share repurchases), working with JP Morgan

• Announced repurchase authorization of 1M shares

• Paid special dividends totaling $4.00 per share as optimal mechanism to allocate capital at that time

POSITIVE CORPORATE GOVERNANCE CHANGES1

• Actively refreshed Board with industry expertise, reducing average tenure from 8.7 to 6.7 years (since 2012)

• Eliminated Poison Pill (Feb 2013)

• Adopted No Hedging, No Pledging Policy (Feb 2013)

• Separated Chairman and CEO roles; elected independent Chairman (Dec 2014)

• New CEO, Steve Moster, appointed (Dec 2014)

• Exec Comp Changes:

• CEO LTI award increased to 100% performance-based and other executive officers increased from 50/50 to 70/30

• New LTI goals based on EBITDA, ROIC and TSR

• Holding requirements for vested restricted stock

• Eliminated tax gross-ups on perks, legacy payments

• Phase out of excise tax gross-ups and modified single-trigger provisions in change-in-control arrangements

1 Representative list of actions taken; not comprehensive.

DEC 2012 NOV 2013 / FEB 2014

• Announced conclusion of review and go-forward strategy to enhance shareholder value

FOCUSED ON SHAREHOLDER VALUE

2004

MoneyGram International

• Executing against growth strategy with 11 acquisitions from 2014 -2018

PRESENTAPR 2014

3636

GES KEY METRICS

US BASE SAME-SHOW GROWTH1 2018 GEOGRAPHIC REVENUE MIX

SHOW ROTATION2 2018 COST STRUCTURE

1 Year-over-year revenue growth of shows that occur every year in the same quarter and are produced out of the same GES location.2 Net change in revenue due to non-annual shows produced by GES (shows occur every two, three or four years).

75%

19%6%

US EMEA Canada

3.1%

6.4%

8.0%

4.1%4.8%

2.8%

2013 2014 2015 2016 2017 2018

% U.S. Organic Rev.

$(48)

$65

($71)

$52

($8)$(35)

$(15) - $(20)

~ $100 Millions

2013 2014 2015 2016 2017 2018 2019 2020 (est) (est)

46% 39% 45% 39% 35% 34%

43%

25%

26% 6%

All Other Variable COS Variable Labor COS

Semi-Variable SG&A Fixed G&A

3737

GES CORE SERVICES

Exhibitors:

Exhibit Rental

Furnishings & Carpet

Graphics

Installing & Dismantling Labor

Logistics/Transportation

Event Organizer:

Event Planning & Production

Look & Feel Design

Layout & Floor Plan Designs

Furnishings & Carpet

Signage

Show Traffic Analysis

1 Representative list of services; may vary across events/clients.2 North American and U.K. total addressable market across Exhibitions, Conferences and Corporate Events based on internal estimates.

Exhibitors:

Material Handling

Electrical Distribution

Cleaning

Plumbing

Overhead Rigging

Booth Rigging

A S T H E O F F I C I A L S E R V I C E S C O N T R A C T O R F O R A N E V E N T, G E S I S T H E E X C L U S I V E

P R O V I D E R O F C E R TA I N S E R V I C E S T O T H E E V E N T O R G A N I Z E R A N D E X H I B I T O R S

W I T H A N O P P O R T U N I T Y T O U P - S E L L D I S C R E T I O N A R Y S E R V I C E S T O E X H I B I T O R S

Holistic Exhibit Program Management

Exhibit Design & Build, Storage

Logistics/Transportation

Event Marketing Campaigns

Coordination of Show Services

At-Event Activities

Exclusive Discretionary Up-Sell Across All Events

19%

$4.5B TAM2

GES Market

Share

OFFICIAL SERVICES CONTRACTING1 CORPORATE ACCOUNTS1

3838

PURSUIT KEY METRICS

HOSPITALITY METRICS1 2018 GEOGRAPHIC REVENUE MIX

2018 LINE OF BUSINESS REVENUE MIXATTRACTIONS METRICS1

57%17%

20%6%

Banff Jasper Collection Glacier Park Collection Alaska Collection FlyOver

(Canada) (Montana) (Alaska)

35%

56%

2%7%

Hospitality AttractionsTravel Planning Transportation

1 Metrics are presented on a “same-store” basis, which includes assets owned by Viad and operating at full capacity for the entirety of the periods presented, expressed on a constant currency basis. Visitors are expressed in thousands.

$100 $103 $103 $116

$125 $129

65.2% 67.6% 64.6% 68.1% 69.8% 69.6%

2013 2014 2015 2016 2017 2018

RevPAR Occupancy

916 1,053 1,065 1,131

1,317 1,285

$31 $31 $34 $34

$45 $50

2013 2014 2015 2016 2017 2018

Visitors Revenue / Visitor(000’s)

3939

PURSUIT – HIGH-VALUE ASSETS IN MARKETS WITH PERENNIAL DEMAND

P U R S U I T I S C O M P R I S E D O F AT T R A C T I O N S , H O S P I TA L I T Y, T R A N S P O R TAT I O N , A N D

T R AV E L P L A N N I N G S E R V I C E S T H AT W O R K T O G E T H E R , D R I V I N G E C O N O M I E S O F S C O P E

I N I C O N I C D E S T I N AT I O N S

Banff National ParkJasper National Park

~ 6.5M Visitors

Denali National ParkKenai Fjords National Park

~ 1M Visitors

Glacier National ParkWaterton Lakes National Park

~ 3.5M Visitors

Vancouver,British Columbia~ 11M Visitors

Reykjavik,Iceland

~ 2.5M Visitors

Market visitation statistic sources: Tourism Vancouver (2018); Parks Canada (2018); National Park Service (2018); and Icelandic Tourist Board (2018)

4040

Glacier Skywalk355,000 visitors

FlyOver Canada593,000 visitors

Kenai Fjords Tours95,000 visitors

Banff Gondola717,000 visitors

Glacier Adventure490,000 visitors

Lake Minnewanka77,000 visitors

Maligne Lake Tours115,000 visitors

PURSUIT ATTRACTIONS - AWESOME EXPERIENCE WITH COMPELLING CROSS-SELL

P U R S U I T ’ S AT T R A C T I O N S H AV E S T R O N G F I N A N C I A L P E R F O R M A N C E

A N D O F F E R C R O S S - S E L L O P P O R T U N I T I E S

Visitation in 2018.

4141

B A N F F | J A S P E R

Elk + Avenue Hotel* (164 rooms)

Mount Royal Hotel* (133 rooms)

Glacier View Lodge (32 rooms)

Sawridge Inn* (152 rooms)

Lobstick Lodge* (139 rooms)

Chateau Jasper Hotel* (119 rooms)

Marmot Lodge* (107 rooms)

The Crimson Hotel* (99 rooms)

Pyramid Lake Resort* (62 rooms)

Pocahontas Cabins* (57 rooms)

G L A C I E R | W AT E R T O N

Glacier Park Lodge (162 rooms)

Grouse Mountain Lodge* (145 rooms)

St. Mary Lodge (116 rooms)

Prince of Wales Hotel (86 rooms)

Apgar Village Lodge (48 rooms)

West Glacier Motel (32 rooms)

Belton Chalet (27 rooms)

Motel Lake McDonald (27 rooms)

West Glacier RV Park and Cabins (20 rooms)

D E N A L I | K E N A I F J O R D S

Denali Backcountry Lodge (42 rooms)

Denali Cabins (46 rooms)

Talkeetna Alaskan Lodge (212 rooms)

Seward Windsong Lodge (216 rooms)

Kenai Fjords Wilderness Lodge (8 rooms)

PURSUIT HOSPITALITY - LODGING PORTFOLIO

O U R 2 4 L O D G I N G P R O P E R T I E S F I L L O V E R 3 5 0 , 0 0 0 R O O M N I G H T S A N N U A L LY

* Year-round properties