Disclaimer

This website and the information contained herein (collectively referred to as “the Website”) are being made available to all shareholders of Vail Resorts, Inc. (the “Company” or “Vail Resorts”). Oasis Management Company Ltd. (“Oasis”) is the investment manager of Oasis Investments II Master Fund Ltd. (the “Oasis Fund”) that owns shares in Vail Resorts. Oasis has created the Website to inform shareholders in connection with its proxy solicitation at the Company’s 2026 annual meeting of stockholders (the “Annual Meeting”).   

The Website was created solely for the purpose mentioned above. Oasis is not and should not be regarded or deemed in any way whatsoever to be making an offer, a solicitation of an offer, or any advice, invitation or inducement to enter into or conclude any transaction.  Further, the Website does not recommend the purchase or sale of any security nor is it an offer to sell or a solicitation of an offer to buy any security. Nothing on the Website is intended to be, nor should it be construed or used as, investment, tax or legal advice.  No representation or warranty is made that Oasis’s investment process or investment objectives will or are likely to be achieved or successful or that Oasis’s investments will make any profit or will not sustain losses. Past performance is not indicative of future results.

Except as otherwise set forth therein, the Website represents the opinions, interpretations and estimates of Oasis. Oasis reserves the right to change any of its opinions expressed on the Website at any time as it deems appropriate and disclaims any obligation to notify the market or any other party of any such change, except as required by law. 

The information contained herein is derived from publicly available information deemed by Oasis to be reliable. The information herein may contain forward-looking statements which can be identified by the fact that they do not relate strictly to historical or current facts and include, without limitation, words such as “may,” “will,” “expects,” “believes,” “anticipates,” “plans,” “estimates,” “projects,” “targets,” “forecasts,” “seeks,” “could” or the negative of such terms or other variations on such terms or comparable terminology. Similarly, statements that describe Oasis’s objectives, plans or goals are forward-looking. Any forward-looking statements are based on Oasis’s current intent, subjective belief, expectations, estimates and projections. These statements are not guarantees of future performance and are subject to change due to a variety of factors, including fluctuating market conditions and economic factors, and involve risks, uncertainties, assumptions and other factors that are difficult to predict or quantify, are beyond Oasis’s control and that could cause actual results to differ materially.  Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and actual results may vary materially from what is expressed in or indicated by the forward-looking statements.

Oasis has neither sought nor obtained the consent from any third party to use any statements or information contained herein that have been obtained or derived from statements made or published by such third parties. Any such statements or information should not be viewed as indicating the support of such third parties for the views expressed herein. The Website may contain links to articles and/or videos (collectively, “Media”). The views and opinions expressed in such Media or those of the author(s)/speaker(s) referenced or quoted in such Media and, unless specifically noted otherwise, do not necessarily represent the opinions of Oasis.

While Oasis believes that reasonable efforts have been made to ensure the accuracy of the information contained in the Website, Oasis makes no representation or warranty, expressed or implied, as to the accuracy, completeness or reliability of such information. Oasis expressly disclaims any responsibility or liability for any loss howsoever arising from any use of or reliance on any of the information contained in the Website or any of their contents as a whole or in part by any person, or otherwise howsoever arising in connection with the same. Oasis is not under any obligation to provide any updated or additional information or to correct any inaccuracies in the information contained herein. 

All registered or unregistered service marks, trademarks and trade names referred to on the Website are the property of their respective owners, and Oasis’s use herein does not imply an affiliation with, or endorsement by, the owners of these service marks, trademarks and trade names or the goods and services sold or offered by such owners.

Privacy Notice

Oasis is committed to maintaining your privacy. This Privacy Notice applies to information collected through (or in connection with) this Website. Our Investor Privacy Notice can be accessed https://oasiscm.com/terms-of-use.

How we collect information about you

We may collect personal data about you through: 

  • information provided directly to us by you, or another person on your behalf, through this Website, by email or post, or in person;
  • information that we obtain in relation to any transactions between you and us; and
  • the use of Internet “cookies” (an information collecting device from a web server), as described further below.

We may also, in some circumstances, receive personal information about you from third parties, such as service providers or trading counterparties, regulatory or law enforcement agencies, credit reference agencies and agencies conducting background checks. Personal information may also be obtained from publicly accessible sources of information, such as public databases, industry associations, social media and online professional networks.  

The types of personal data we may collect will depend on the nature of our relationship with you and the purpose for which information is being collected. Such personal data may include names, residential addresses or other contact details, as well as information about your use of the Website, such as unique identifiers tied to the browser, application or device you are using.

You do not have to provide Oasis with any personal data to visit the Website; however, if you choose to withhold the requested information, you may not be able to visit all sections or use certain features of the Website.

How we may use your information

We may collect and use your personal information for the purposes of administering the relationship between us, marketing our products and services to you or the businesses with which you are associated, monitoring and analysing our activities, and complying with applicable legal or regulatory requirements. 

We will use one of the permitted grounds under the applicable law to process your information. Such grounds include instances where you have given your consent and cases where your consent is not required under applicable law, such as where we are required to comply with a legal obligation, or where we or a third party determine that is necessary for our legitimate interests to collect and use your personal information.   

The legitimate interests to collect your personal information may include any of the purposes identified above and any other purpose where we, or a third party on our behalf, have determined that you have a reasonable expectation for us or a third party to collect or use your personal information for such purpose. You have the right to object to the use of your personal data for marketing purposes.

The Part VI A provisions under the Hong Kong Personal Data (Privacy) (Amendment) Ordinance 2012 came into effect on April 1, 2013. Oasis’s Hong Kong affiliate may also collect and use your Personal Data (including your name and contact details) to communicate with you regarding updates and activities that Oasis initiates or is involved in. If you no longer wish to receive any communications, or materials and updates from us, please contact Oasis at OasisCompliance@oasiscm.com or inform us by post any time, and you will not receive any further communications.

For how long will we keep your personal information?

We will generally keep personal information about you for as long as necessary in relation to the purpose for which it was collected, or for such longer period if required under applicable law or necessary for the purposes of our other legitimate interests. 

The applicable retention period will depend on various factors, such as any legal obligation to which we or our service providers are subject, as well as on whether you decide to exercise your right to request the deletion of your information from our systems. As a minimum, information about you will be retained for the entire duration of any business relationship we may have with you, and typically for a minimum period of seven years after the termination of any such relationship. 

We will, from time to time, review the purpose for which we have collected information about you and decide whether to retain it, update it, or securely delete it if the information is no longer required.

Do we share your personal information with third parties?

We may (to the extent relevant to the purpose for which we collect your information), share your personal data with third parties, such as:

  • with our respective affiliates and third-party service providers for the purpose of providing services to you, or administering our business and maintaining our IT systems;
  • to public entities and institutions (e.g. regulatory, tax or other authorities, law enforcement agencies, courts etc.) to comply with our legal obligations or where we determine that disclosure is necessary to protect or defend our legal rights;
  • to any relevant third-party buyer(s) in the event of any sale merger or other disposal of any of our business or assets; and/or
  • to our professional advisers (e.g. auditors, accountants, financial advisors, lawyers etc.).

Use of cookies

We may send text files (e.g., “cookies” or other cached files) or images to your web browser to store information on your computer. Such text files and images are used for technical convenience to store information on your computer. For instance, we may use a session cookie to store form information that you have entered so that you do not have to enter such information again. We may use information stored in such text files and images to customise your experience on this Website and to monitor use of this Website.

This Website uses the following cookies:

  • cookieyes-consent – This cookie is set by the site’s cookie consent tool and is used to remember a visitor’s cookie preferences on subsequent visits;
  • _ga and ga* – These cookies are set by Google Analytics. They are used to distinguish unique visitors, count page views and track a visitor’s sessions on the site;
  • vuid – This cookie is set by Vimeo, which hosts videos embedded on the site. The cookie is used to collect data on how embedded videos are viewed and interacted with; and
  • __cf_bm and _cfuvid – These cookies are set by Cloudflare on behalf of Vimeo. They are used to distinguish bots from human visitors and to secure the delivery of embedded video content.

You may set your browser to notify you when you receive a cookie.  Many web browsers also allow you to block cookies. If you block cookies you may not be able to access certain parts of this website. You can disable cookies from your computer system by following the instructions on your browser or at www.allaboutcookies.org.

Additional Information for Residents of the European Economic Area

If you are an individual resident in the European Economic Area (the “EEA”), you may have certain rights under the General Data Protection Regulation (“GDPR”) and applicable local laws in relation to the personal information we hold about you, including the right to access your personal information, the right to restrict the use of your personal information, the right to have incomplete or inaccurate personal information corrected, the right to ask us to stop processing your personal information, and the right to require us to delete your personal information that applies in limited circumstances. You may also have the rights to object to the use of your personal information for direct marketing purposes and complain to the local privacy regulator. Your personal information will be processed as described above by us and other parties in countries outside the EEA, including Hong Kong and the United States, which may not offer the same level of protection of personal information as GDPR. Please be advised that certain aspects of GDPR may not be consistent with the laws and regulations applicable to us. 

Questions

Stockholders who need help voting should contact Oasis’s proxy solicitor, Innisfree M&A Incorporated, at 877-456-3507 (toll free). 

If you have any questions or comments regarding this Website, please contact legal@oasiscm.com for electronic communication.

Certain Information Regarding the Participants

The Participants (as defined below) intend to file a definitive proxy statement and accompanying proxy card with the Securities and Exchange Commission (the “SEC”) to be used in connection with the Annual Meeting. All stockholders of the Company are advised to read the proxy statement and any other relevant documents filed by the Participants with the SEC when they become available, as they will contain important information, including information relating to the Participants. The proxy statement and other relevant documents will be available at no charge on the SEC’s website at www.sec.gov.

The “Participants” in the proxy solicitation are expected to be (i) Oasis, (ii) the Oasis Fund, (iii) Seth Fischer, (iv) Robert Chapek, and (v) M. Ashton Hudson. Information about the Participants and a description of their direct or indirect interests, by security holdings or otherwise, is contained in Annex I to the Revised Preliminary Proxy Statement, filed with the SEC on October 30, 2026, which is available at no charge on the SEC’s website at www.sec.gov.