Risk Factors Update Summary

• Added 5 million learning and career growth opportunities for underrepresented groups, impacting 20 million community members.
• Incorporating artificial intelligence technologies may result in new risks and liabilities, including regulatory scrutiny and litigation.
• Added risk of labor shortages or loss of key senior management personnel, potentially impacting operations.
• Increased costs or reputational risks related to ESG matters, potentially affecting financial performance.
• Labor disruptions, such as strikes, could impact business operations and financial performance negatively.
• Increased the number of employees to approximately 178,000, with an additional 259,000 individuals employed by third-party owners.
• Enhanced employee benefits and recruiting strategies, including an employee stock purchase plan and expanded hiring efforts.
• Acquisition and disposition activities may divert management attention and lead to unforeseen expenditures or losses.
• Significant increase in the number of properties from 7,165 to 7,530, indicating growth.
• Expanded the workforce diversity, with 43% women globally, 42% women in corporate leadership, and 24% women in hotel leadership.
• The number of employees increased from approximately 159,000 to 178,000, impacting operational capacity.
• Net additions to the hotel system increased from 308 to 353, reflecting expansion efforts.
• Development pipeline additions rose from 994 to 1,200, indicating future growth plans.
• Currency translation risks are now specifically mentioned, potentially affecting financial results.
• Launched new hotel brands and concepts, including Spark by Hilton, and continued to expand existing brands into new international markets.
• Changes in insurance coverage terms and limits could lead to uninsured losses for the company.
• Total rooms under construction increased from 205,400 to 259,800, showing ongoing development.
• Competitors' sustainability initiatives may attract more guests, reducing demand for Hilton properties.
• The number of rooms located outside the U.S. increased from 243 to 259, indicating international expansion.