International Hotel Investments Plc

Report Publication Announcement • Apr 28, 2017

COMPANY ANNOUNCEMENT

Annual report on sinking funds

International Hotel Investments p.l.c. is circulating the enclosed report by Charts Investment Management Service Limited in terms of the Listing Authority policy on sinking funds.

Alfred Fabri Company Secretary

28 April 2017

Encl.

CHARTS INVESTMENT MANAGEMENT SERVICE LTD VALLETTA WATERFRONT - VAULT 17 PINTO WHARF · FLORIANA FRN 1913 · MALTA

tel +356 2122 4106 - 2124 1121 · fax +356 2124 1101 www.charts.com.mt · info@charts.com.mt

Report of the Custodian

To the Malta Financial Services Authority

On compliance of International Hotel Investments p.l.c. (the "Issuer") with the requirements of the Sinking Fund for the year ended 31 December 2016

In accordance with section 5.16 of the Prospectus dated 16 November 2012 relating to €20 million 5.8% International Hotel Investments p.l.c. Bonds 2021 (the "Prospectus"), the Issuer set up the International Hotel Investments p.l.c. Sinking Fund Reserve (the "Sinking Fund") in December 2016. Charts Investment Management Service Limited is the appointed Custodian to hold and administer the assets of the Sinking Fund (the "Custodian").

As at date of this report, we confirm that the Sinking Fund amounts to €1,082,041 and that such balance is in accordance with the table of Sinking Fund contributions included in the Prospectus. Such proceeds have been properly applied in accordance with the investment parameters described in the Prospectus and the policies of the Listing Authority.

Evan Mohnani (Head of Corporate Finance) for and on behalf of Charts/Investment Management Service Limited as Custodian

25 April 2017