PACIFIC WITH OPENING OF HILTON SINGAPORE ORCHARD

Hilton Singapore Orchard - Estate Restaurant

Hilton Debuts Largest Hotel in Asia Pacific with Opening of Hilton Singapore Orchard

1,080-room landmark property brings exceptional Hilton hospitality, leading design, world-class dining and cutting-edge MICE experiences to Singapore

SINGAPORE – 24 February 2022 – Hilton (NYSE: HLT) today opens Hilton Singapore Orchard, the company’s largest hotel in Asia Pacific. Located at the heart of Orchard Road, the 1,080-room property sets a new benchmark of hospitality for the city’s renowned shopping district with a vibrant blend of contemporary design, innovative dining experiences and extensive meeting spaces. “Today we celebrate a key milestone with the opening of our largest hotel in Asia Pacific. Hilton Singapore Orchard is a fantastic showcase of our flagship brand and places us in a strong position to usher in a new era of travel. Together with our partners at OUE Limited, we are confident that the hotel will be in a leading position to cater to the travel demand that we anticipate will come rapidly as global economies and travel networks reconnect. Hilton Singapore Orchard will truly be top of mind for both leisure and business guests as it delivers exceptional experiences supported by Hilton’s renowned hospitality,” said Alan Watts, president, Asia Pacific, Hilton.

“As one of the largest hospitality companies in the world, Hilton is renowned for its strong brand recognition, global distribution network, and successful loyalty programme – all of which combined will provide our property with a competitive advantage and enhance its positioning in the market,” said Brian Riady, Deputy Chief Executive Officer and Executive Director, OUE Limited. “We are confident Hilton Singapore Orchard will be a leading lifestyle destination for locals and travellers alike.”

Hilton Singapore Orchard Exterior

Singapore is a key business hub and world-renowned leisure destination for travellers around the world. The hotel’s positioning in the heart of the city-state’s lifestyle, fashion and dining haven, with a direct connection to luxury shopping centre Mandarin Gallery, ensures easy access to the best global brands and gourmet offerings, as well as premier specialist medical centres and the central business district.

Hilton Singapore Orchard features modern contemporary design that pays homage to Singapore’s rich colonial history and agricultural heritage. Botanical references are reflected throughout the hotel’s artwork and interiors while embracing a seamless and eco-friendly guest experience. Energy-efficient technology such as in-room motion, air-condition and light sensors feature in every room and suite, while digital key access and smartphone connected services offer greater convenience for guests on the go.

Alexandra Jaritz, senior vice president, brand management, Asia Pacific, Hilton, said,

“With its strategic location, stylish design, diverse array of culinary concepts and bespoke events capabilities, Hilton Singapore Orchard will be a beacon for the brand. We look forward to delivering exceptional experiences complemented by Hilton’s signature hospitality.”

Hilton Singapore Orchard - ReceptionFrom Osteria Mozza by celebrated chef Nancy Silverton to residential all-day dining restaurant Estate, Hilton Singapore Orchard’s five curated concepts will satisfy even the most discerning palates, with something for every taste and occasion. For afternoon tea or an aperitif, guests can enjoy barista-quality brews, botanical-inspired afternoon tea, handcrafted cocktails or artisanal pastries at Ginger.Lily. Two-Michelin-starred Shisen Hanten by Chen Kentaro and award-winning Chatterbox famed for their local Singapore delights round up the stellar culinary line up at Hilton Singapore Orchard. The hotel features a sprawling 2,400 square metres of event facilities for meetings, conferences and events of all sizes, which include 16 highly versatile spaces bathed in natural light.

Two pillarless ballrooms – the elegant Grand Ballroom accommodating up to 900 guests and multi-tiered amphitheatre-style Imperial Ballroom with panoramic city views – are fitted with state-of-the-art LED walls, and lighting and sound technologies to create memorable event experiences. Hilton Singapore Orchard is located at 333 Orchard Road, Singapore 238867. For more information, or to make a reservation, guests may visit Hilton Singapore Orchard or call +65 6737 4411.

Hilton Singapore Orchard has rolled out Hilton CleanStay, Hilton’s industry-leading global cleaning and disinfection programme. It provides guests with peace of mind thanks to enhanced levels of cleanliness throughout every aspect of their experience, ensuring the safety and well-being of guests without compromising on the hospitality for which Hilton is known.

Hilton Singapore Orchard is part of Hilton Honors, the award-winning guest-loyalty programme for Hilton's 18 distinct hotel brands. Members who book directly on the hotel’s website will have access to instant benefits, including a flexible payment slider that allows members to choose nearly any combination of points and money to book a stay, an exclusive member discount,

free standard Wi-Fi and the Hilton Honors mobile app. Members also have access to contactless technology exclusively through the industry-leading Hilton Honors mobile app, where Hilton Honors members can check-in, choose their room and access their room using Digital Key.

Opening Stay Offer

To experience the new Hilton Singapore Orchard, book and stay by 30 June 2022 to enjoy a special opening offer. Offer includes breakfast for two, 25 percent off food and beverage at Estate and Ginger.Lily, premium Wi-Fi, late check-out / early check-in (subject to availability) and 1,000 additional Hilton Honors points per night. Terms and Conditions apply.

Opening Dining Offer

As part of the Like A Member Campaign, Hilton Honors members will enjoy up to 25% off food and beverage and earn 500 Hilton Honors bonus points at Estate and Ginger.Lily until 30 June 2022. Terms and conditions apply.

About Hilton Hotels & Resorts

For over a century, Hilton Hotels & Resorts has set the benchmark for hospitality around the world, providing new product innovations and services to meet guests' evolving needs. With nearly 600 hotels across six continents, Hilton Hotels & Resorts properties are located in the world’s most sought-after destinations for guests who know that where they stay matters. Experience a positive stay at Hilton Hotels & Resorts by booking at hiltonhotels.com or through the industry-leading Hilton Honors app. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits. Learn more about Hilton Hotels & Resorts at newsroom.hilton.com/hhr, and follow the brand on Facebook, Twitter and Instagram.

About Hilton

Hilton (NYSE: HLT) is a leading global hospitality company with a portfolio of 18 world-class brands comprising more than 6,800 properties and more than 1 million rooms, in 122 countries and territories. Dedicated to fulfilling its founding vision to fill the earth with the light and warmth of hospitality, Hilton has welcomed more than 3 billion guests in its more than 100-year history, earned a top spot on the 2021 World’s Best Workplaces list and been recognized as a global leader on the Dow Jones Sustainability Indices for five consecutive years. In 2021, in addition to opening more than one hotel a day, Hilton introduced several industry-leading technology enhancements to improve the guest experience, including Digital Key Share, automated complimentary room upgrades and the ability to book confirmed connecting rooms. Through the award-winning guest loyalty program Hilton Honors, the nearly 128 million members who book directly with Hilton can earn Points for hotel stays and experiences money can’t buy. With the free Hilton Honors app, guests can book their stay, select their room, check in, unlock their door with a Digital Key and check out, all from their smartphone. Visit newsroom.hilton.com for more information, and connect with Hilton on Facebo ok, Twitter, LinkedIn, Instagram and YouTube.

About OUE Limited

OUE Limited (SGX:LJ3) is a leading pan-Asian, full service real estate development, investment and management company with assets across the commercial, hospitality, retail, residential and healthcare sectors. Best known for its landmark property portfolio in Singapore, OUE consistently leverages its expertise in property development and asset management to maximise yields and unlock value. As at 31 December 2021, OUE’s real estate portfolio was valued at S$9.5 billion.

OUE is the manager of two SGX-listed REITs: OUE Commercial Real Estate Investment Trust and First Real Estate Investment Trust. As at 31 December 2021, OUE managed S$7.5 billion in funds under management across its two REIT platforms and its managed accounts.

Since 2017, OUE has expanded its business activities into the complementary and high-growth healthcare and consumer sectors. OUE is the controlling shareholder of OUE Lippo Healthcare Limited, an SGX-listed, integrated healthcare services provider that owns, operates and invests in quality healthcare assets in high-growth Asian markets.

Anchored by its “Transformational Thinking” philosophy, OUE has built a reputation for developing iconic projects, transforming communities, providing exceptional service to customers and delivering long-term value to stakeholders.

For the latest news from OUE, visit www.oue.com.sg

• Acquisition of AIR HAMBURG strengthens Vista’s position across European and Middle Eastern markets;

• On a combined basis, the transaction would see Vista increase flight hours by ~30% globally, and have a ~15% market share of the global charter market;

• 44 additional aircraft available to Members across VistaJet and XO fleets, bringing Vista’s total global group fleet to over 240 aircraft, including owned and managed; • Experienced AIR HAMBURG management team remaining in positions;

• Transaction expected to be completed in the first half of 2022, subject to customary closing conditions and regulatory approvals;

• Follows the recent successful integrations of Red Wing Aviation, Apollo Jets and Talon Air into Vista’s global infrastructure.

VISTA ACCELERATES INDUSTRY CONSOLIDATION WITH THE ACQUISITION OF AIR HAMBURG, EUROPE’S LEADING CHARTER OPERATOR

Vista Global Holding (Vista), the world’s leading private aviation group, announces that it has entered into an agreement to acquire AIR HAMBURG’s operating platform and maintenance services.

Founded in 2006, AIR HAMBURG has become one of the most well-established full-service private aviation companies, flying to over 1,000 destinations in Europe alone. It is the largest private jet operator by number of flights across Europe, organizing over 18,800 flights for its clients in 2021, and it is second only to Vista in terms of hours flown, recording over 35,000 hours in 2021. As a result, Vista expects an increase of around 30% in flight hours (on a combined basis) globally following the completion of the transaction.

Thomas Flohr, Vista’s Founder and Chairman said: “Today’s announcement brings a renowned institution of the European private aviation market into the Vista group and complements our growth and service offering across Europe and the Middle East.

AIR HAMBURG is an impressive, wellestablished and profitable business with a long-standing track record in best-in-class client service — like Vista, it is known for its reliability and consistency throughout a scaling fleet and high utilization.

“Vista’s leading flying solutions, with a business model based on a floating fleet, allows us to implement a quick, seamless integration. This is yet another demonstration of Vista’s unrivaled commitment to ensuring all our Members have access to the best value flying solutions across the world at any given moment.

It is incredibly exciting to welcome over 650 highly-skilled new colleagues to become part of the Vista family of experts at one of the most exciting times for our industry. It has been an absolute pleasure to work closely with the leadership team to ensure both companies capitalize fully on the global opportunities within the expanding private aviation market.”

The acquisition will augment Vista’s scale and fleet offering across key strategic regions and brings together two long-established reputable companies with the shared vision of delivering the most reliable and consistent flying solutions and best experiences to their Members. The merger is the latest step in Vista’s relentless transformation of the highly fragmented business aviation ecosystem. Following strong global demand for private aviation services from new and existing clients, the move builds on the recent integrations of Apollo Jets, Talon Air and Red Wing Aviation.

In addition to a thriving charter business, Vista will integrate AIR HAMBURG’s world-class EASA Part 145 maintenance hub at Baden Baden Airpark, along with its Executive Handling division and VIP lounge at Hamburg Airport which will be available for Vista Members to use.

Floris Helmers, AIR HAMBURG’s CEO and Managing Director said: “This is an incredible opportunity to remain at the top of the growing business aviation market. Over the last three years we have experienced strong growth, significantly increasing our market share across Europe and beyond. This cooperation between two of the largest operators means increasing our stability and securing further growth for our business, while allowing our team to showcase their strength and competencies to the most sophisticated clientele. We are looking forward to this next chapter in joining the Vista group.”

AIR HAMBURG’s growing private jet operation complements Vista’s owned fleet services, and its 44 contracted aircraft, including Lineage 1000E, Dassault Falcon 7X, and Embraer Legacy models, will be available to all Vista Members.

About Vista

Vista Global Holding’s (Vista) subsidiaries provide worldwide business flight services. A global group headquartered at the DIFC in Dubai, Vista integrates a unique portfolio of companies offering asset-free services to cover all key aspects of business aviation: guaranteed and on demand global flight coverage; subscription and Membership solutions; and cutting-edge mobility technology. The Group’s mission is to lead the change to provide clients with the most advanced flying services at the very best value, anytime, anywhere around the world. Vista’s knowledge and understanding of all facets of the industry deliver the best end-to-end offering and technology to all business aviation clients, through its VistaJet and XO branded services and duly licensed carriers. Vista is not a direct air carrier and does not operate or charter flights.

More Vista information and news at www.vistaglobal.com

About AIR HAMBURG Since April 2006, the AIR HAMBURG Group has been a full-service aviation provider based in Hamburg, Germany, employing more than 650 people and consists of:

AIR HAMBURG PRIVATE JETS AIR HAMBURG Private Jets is the main group and the largest European charter airline. Its fleet of 44 jets consists of: Lineage 1000E, Falcon 7X, Legacy 600/650/650E, Legacy 500, Praetor 600, Cessna Citation XLS+, Phenom 300/300E as well as Cessna Citation CJ3. Over the past three years, the company has experienced strong growth, welcoming around 10 new jets per year, and significantly increasing market share. Its exceptional service has been recognized by industry bodies including the ACA Excellence Award for “best executive passenger charter operator”, and IS-BAO and WyvernWingman certifications. With a floating fleet business model, its private jets are strategically positioned around the world to provide the most streamlined service possible. Regardless of where clients are in the world, AIR HAMBURG Private Jets can have a jet with them in no time, ready to fly to any destination, even at short notice, and in hard-toreach areas. Its Operations Control Center takes care of everything while passengers relax or plan their next meeting.

More information and news at www. air-hamburg.de

AIR HAMBURG TECHNIK Where the ultimate efficiency and the highest standards meet. When it comes to the Embraer Lineage 1000E, Legacy 600/650/650E, Praetor 600, Legacy 500/450, the Cessna Citation XLS+ aircraft and the Embraer Phenom

300/300E — AIR HAMBURG TECHNIK are the team to call. Private aviation is a 24/7 business that requires speed and flexibility. Maintaining AIR HAMBURG Private Jets’ fleet of more than 40 aircraft has bolstered experience in highly responsive support. The EASA Part 145 maintenance organization is based at Karlsruhe/Baden EDSB airport. Located in the heart of Europe, the base has hangarage, line and heavy maintenance, aircraft special tooling, testing equipment, and a parts logistics centre. More information and news at www.ahtechnik.de

Contacts

press@vistaglobal.com

Vista Global Holding Limited (“Vista”) does not own or operate any aircraft. All flights are performed by FAAlicensed/DOT-registered EASA or U.S. certified Vista group direct air carriers and/or partner operators. Vista holds non-controlling minority stakes in XOJET Aviation, GMJ Air Shuttle, Red Wing Aviation and Talon Air.

Quarterly | Hotel | Bali | 5 January 2022

Welcome to Bali!

Insights & recommendations

The spread of Covid-19 cases is gradually becoming under control. The government has been lowering the PPKM level and reopening tourism activities. From October 14th, 2021, the government started a trial by opening direct flights from 19 countries subject to certain rules. Quarantine is also still being enforced. Indonesia is going to host several International MICE events in 2022 to help boost tourism and business in in the country. Revenge Tourism will also create a very positive back-up to the number of visitors to Bali. In the meantime, the current PPKM is also perfect timing as hoteliers can improve their quality of services and products to a higher level. All the practice will improve planning and lead to better execution.

Supply

Occupancy It is estimated that there will be several new hotels in Bali in the short-term. However, actual conditions can affect the timing of the additional supply.

Occupancy is expected to increase due to several events which will be held in Bali, as well as the opening of international borders, although this is only for several countries. The domestic market is likely to be the main demand driver.

Q4 2021

82 rooms

QOQ/ End Q4 Full Year 2021

2021–25 Annual Avg.

374 rooms 223 rooms

YOY/ End 2021

Annual Avg Growth 2021–25/ End 2025

3.6% 18.6%

17.3% 35.9% 33.2%

Room rates are increasing slower than occupancy rates.

1.4% 35.9%

5.1%

Quarterly | Hotel | Jakarta | 5 January 2022

Will Omicron be the new obstacle?

Insights & recommendations

2021 has been a roller coaster year for the hotel industry in Jakarta. Conditions at the beginning of the year looked promising but, due to an increase in Covid cases, government finally had to implement a strict PPKM (public activity restrictions) in July. As a result, the performance of hotels declined drastically. As conditions improved, government began to loosen the PPKM and activities resumed but, at the end of the year, a new variant emerged which might be another stumbling block for the hotel industry. Many hotels in Jakarta will be focusing more on MICE business, whilst the surrounding regions (BODETABEK) will also share the same market segment. However, support areas will also share the leisure and Staycation sectors better outside Jakarta.

Q4 2021 Full Year 2021

2021–25 Annual Avg.

Supply

Occupancy Conditions are gradually improving, supply is expected to increase.

153 rooms 665 rooms 438 rooms

Occupancy will increase as more activities restart. However, it’s necessary to be vigilant so that there is no spike in cases which will stop activities.

QOQ/ End Q4

YOY/ End 2021

2.5% 11.1%

48.3% 52.2%

Annual Avg Growth 2021–25/ End 2025

11.6%

Room rates Room rate trends are positive but are slower to bounce back than occupancy.

5.4% 7.6%

USD48.5 USD52.2 4.1%