International Hotel Investments Plc

Capital/Financing Update • Mar 27, 2019

COMPANY ANNOUNCEMENT

€20,000,000 International Hotel Investments p.l.c. 4% Unsecured Bonds 2026

In terms of the Prospectus dated 4 March 2019, International Hotel Investments p.l.c. (the "Issuer") had reserved a maximum amount of €20,000,000 in 4% Unsecured Bonds 2026 (the "Bonds") for subscription by Authorised Financial Intermediaries through an Intermediaries' Offer, which took place last Friday 22 March 2019.

Pursuant to the above-mentioned Intermediaries' Offer, the Issuer is pleased to announce that the Bonds have been fully allocated. Accordingly, the Bonds will be admitted to listing on the Malta Stock Exchange on Thursday 28 March 2019 and trading in the Bonds will commence on Friday 29 March 2019.

The first interest payment will be effected on 20 December 2019 (covering the period 22 March 2019 to 19 December 2019). Thereafter, the Bonds will merge with the €40,000,000 4% unsecured bonds 2026 (ISIN: MT0000111311) and subsequent interest payments will cover the annual period 20 December to 19 December of ensuing years during the term of the Bonds.

The Board of Directors would like to thank the bondholders for the support shown in the Bond Issue.

Alfred Fabri Company Secretary

27 March 2019