Whitebread Annual Update

Well positioned for long-term value creation 1 GROW AND INNOVATE IN THE UK ENHANCED STRUCTURAL OPPORTUNITIES Market supply contraction accelerating Pl market share gains BUDGET MODEL Budget sector is higher growth and outperforms in downturns BROAD CUSTOMER REACH Flexible model caters to a wide range of customer types STRONG HOTEL BRAND Strongest hotel brand in the UK DIRECT DIGITAL DISTRIBUTION Cost efficient and ownership of the customer relationship 2 FOCUS ON OUR STRENGTHS TO GROW IN GERMANY UK ✓ ✓ ✓ Germany ✓ opportunity opportunity 24 3 ENHANCE CAPABILITY TO SUPPORT LONG-TERM GROWTH BEST-IN-CLASS OPERATIONS Competitive advantage driving a winning customer proposition LEAN AND AGILE COST MODEL Right-sized cost base enables a superior value offering CAPITAL DISCIPLINE Disciplined allocation of capital FINANCIAL STRENGTH AND FLEXIBILITY Strong property backed balance sheet provides flexibility OPERATING RESPONSIBLY AND SUSTAINABLY Embedded in our business with ambitious targets UK + Germany WHITBREAD

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