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Investor Presentaiton

3 Growth through Disciplined Allocation m Focus on building portfolio of Upper Upscale and Luxury branded assets in Top 25 markets and premium resort destinations HOTEL Pursue larger scale deals (assets and portfolios) that offer significant value add opportunities PARK HOTELS & RESORTS Diversify brand and operator mix to include other global manager/franchisors 19 Opportunistically recycle capital, selling out of slower growth, non-core assets and reinvest in higher growth markets PARK HOTELS & RESORTS

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