International Hotel Investments Plc

Capital/Financing Update • Feb 12, 2025

COMPANY ANNOUNCEMENT

The following is a company announcement issued by IHI p.l.c. pursuant to the Capital Markets Rules as issued by the Malta Financial Services Authority.

Issue of €35,000,000 International Hotel Investments p.l.c. 5.30% Unsecured Bonds 2035

The Board of Directors of International Hotel Investments p.l.c. (the 'Company') announces that it has submitted an application to the Malta Financial Services Authority requesting admissibility to listing of €35,000,000 5.30% Unsecured Bonds redeemable in 2035 (the 'New Bonds'). Application will be made for the New Bonds to be listed and traded on the Official List of the Malta Stock Exchange.

The Company intends to part-finance the €45,000,000 5.75% unsecured bonds 2025 (ISIN: MT0000111295) redeemable on 13 May 2025 (the "Maturing Bonds") through the proposed issuance of the New Bonds. The net reduction in bond exposure comes at the request of the Company's Board to gradually reduce overall debt whilst maintaining focus on increasing profit contributions from underlying businesses. These include recently launched hotel operations in New York and Brussels, with others in Bucharest, Rome and the Gulf to come on stream in the next 12 months.

Subject to obtaining regulatory approval of the New Bonds, the Company will be granting preference to holders of the Maturing Bonds to subscribe to the New Bonds by surrendering the corresponding nominal value of Bonds so held.

The Company therefore announces that the Cut-Off Date for such eligibility shall be 19 February 2025 (trading session of 17 February 2025). The Maturing Bonds shall cease trading on the Malta Stock Exchange on close of business of 17 February 2025 until further notice.

Further information on the New Bonds will be available after the issue of the necessary approval by the Malta Financial Services Authority.

Stephen Bajada Company Secretary

12 February 2025