Whitebread Annual Update

Full year highlights and outlook Continued hotel market outperformance in the UK driven by our 'Investing to win' commercial strategy, our strong brand, scale, direct distribution and the strong appeal of the Premier Inn customer offering Strong hotel trading in the UK, exceeding pre-pandemic levels in H2 ● ● ● ● ● Encouraging forward bookings, capitalising on accelerating independent supply contraction although limited visibility for H2 Restaurants trading behind pre-COVID levels but improving trends German market recovering slower than UK but Premier Inn trading is encouraging. Built a significant business of 37 quality hotels in prime locations during COVID, which are now starting to trade as the market recovers Expect to largely offset higher cost inflation through efficiencies, estate growth and higher price Cost efficiency programme extended and increased, now £140m by FY25 Proposed final dividend of 34.7p per share resulting in £70m payable, reflecting confidence in outlook WHITBREAD

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