Investor Presentaiton

COVID-19 update on Mainland China Hotels . Our hotel portfolio in Mainland China has seen a sustained steady recovery since February's bottom • This was supported by domestic leisure and corporate travel as well as some government businesses Recovery mainly driven by domestic leisure demand, benefiting T2-4 cities 800 700 600 500 400 28.6% 300 200 100 0 2.6% 31/01 = Lowest Point 29/02 39.3% China ADR China Occupancy 100.0% 84.2% 80.0% 60.0% 40.0% 20.0% 0.0% -20.0% 4

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