Professional Triathletes Organisation Advises Wanda Sports That the Value of Ironman Business May Be Adversely Affected by Failing to Engage in Discussions

LONDON–(BUSINESS WIRE)–The Professional Triathletes Organisation today released the following letter sent to the Board of Directors of Wanda Sports Group Company Limited on 3^rd March 2020 advising the Board that in its view the value of the Ironman® Business in any possible sale would be adversely affected by its failure to engage in constructive discussions with the PTO.

Board of Directors		Andrew Messick
Wanda Sports Group Company Limited		Chief Executive Officer
Wanda Plaza		World Triathlon Corporation
Tower B, 9th Floor		3407 W. Martin Luther King Blvd
93 Jianguo Road Chaoyang District		Suite 100
Beijing, China		Tampa, Florida 33607

Attn: Mr. Yimin Gao–CEO

Dear Members of the Board:

We are writing on behalf of the Professional Triathletes Organisation (the “PTO”) and note with interest your public announcement that the Wanda Sports Group Company Limited (“WSG”) is in preliminary discussions concerning the possible sale of its worldwide triathlon and mass participation business (the “WTC Business”). We further note that the WSG Board has yet to respond to our letter dated 3^rd of February 2020, in which we advised the Board that the PTO is prepared to enter into discussions regarding the acquisition of the WTC Business and to consider an all-cash transaction or one in which the existing shareholders of WSG are able to participate in the growth of the WTC Business that the PTO and its professionals are uniquely able to deliver. In our letter we also advised the WSG Board that we are prepared to work with other groups who may be interested in acquiring the WTC Business.

We strongly believe that our involvement in the sale process will enable the WSG shareholders to maximise the value of any sale of the WTC Business, and failure to allow the PTO the opportunity to be part of any sale process will adversely affect the WSG shareholders. We believe that this proposal represents a unique opportunity to realise significant value for WSG shareholders and the employees of WTC, and that the PTO can uniquely provide a healthy and growing environment for the WTC Business. The PTO and North Point Advisors, our financial advisors, are prepared to begin discussions forthwith with your senior management and your financial advisors and to sign a customary confidentiality agreement in order to commence certain due diligence.

We hope that you share our enthusiasm and that the WSG Board, in the exercise of its fiduciary duties, delivers a prompt and favourable reply to us. As the WSG Board has failed to respond to our previous good faith approach, we will publicly release a copy of this letter. We would urge you to convey to any potential bidders with whom you may be in discussions our view that the cooperation of the PTO in the operations of the WTC Business is vital to its valuation and its ongoing and future success and, further, in our view, the continued failure of the WSG Board or any potential bidder with whom you may be in discussions to engage with the PTO in a constructive and cooperative manner may have an adverse effect on the WTC Business and the WSG shareholders. We would accordingly request that if there are any restrictions in any Non-Disclosure Agreements prohibiting potential bidders from engaging in discussions with the PTO, that they be waived so that WSG shareholders are able to maximise the sale price of the WTC Business.

Respectfully yours,

Charles Adamo Chairman				Sam Renouf Chief Executive Officer
Rachel Joyce Athlete Director				Dylan McNeice Athlete Director

cc:		David Jacquin
		North Point Advisors
		580 California Street,
		Suite 200
		San Francisco, CA 94104

About The Professional Triathletes Organisation

The Professional Triathletes Organisation is a not-for-profit entity representing the body of professional triathletes and seeks to showcase the passion, talents, determination, struggles and achievements of the dedicated professionals who strive to realise the highest levels of the sport and inspire all those who participate in triathlon.

About North Point Advisors

North Point Advisors is a leading independent investment bank focused on providing financial advice on mergers and acquisitions and raising institutional capital to meet the growth objectives of its clients. Since its founding in 2004, North Point Advisors has advised on more than 160 transactions representing world class brands in over $25 billion of transaction value. Its industries of focus include consumer, wellness, and healthcare, and it has one of the largest and most experienced consumer M&A teams on Wall Street, completing transactions with leading brands such as Starbucks, Jimmy John’s, Kosta Browne Winery, Landry’s, Golden Nugget Casinos, Massage Envy, and Peanuts by Schulz.

Contacts

Charles Adamo

Chairman

Professional Triathletes Organisation

charles.adamo@protriathletes.org

David Jacquin

Managing Director

North Point Advisors

djacquin@nptadvisors.com
+1 415 358 3500