INTERCONTINENTAL HOTELS GROUP PLC /NEW/

The Annual Report and Form 20-F

2025 contains certain forward-looking

statements as defined under US

legislation (Section 21E of the Securities

Exchange Act of 1934) with respect

to the financial condition, results of

operations and business of the Group

and certain plans and objectives of the

Board of Directors of InterContinental

Hotels Group PLC with respect thereto.

Such statements include, but are not

limited to, statements made in the

Chair’s statement, the Chief Executive

Officer’s review and the Strategic

Report. These forward-looking

statements can be identified by the fact

that they do not relate only to historical

or current facts. Forward-looking

statements often use words such as

‘anticipate’, ‘target’, ‘expect’, ‘estimate’,

‘intend’, ‘plan’, ‘goal’, ‘believe’, or other

words of similar meaning. These

statements are based on assumptions

and assessments made by the Group’s

management in light of their experience

and their perception of historical trends,

current conditions, expected future

developments and other factors they

believe to be appropriate.

By their nature, forward-looking

statements are inherently predictive,

speculative and involve risk and

uncertainty. There are a number of

factors that could cause actual results

and developments to differ materially

from those expressed in, or implied by,

such forward-looking statements,

including, but not limited to: the Group’s

exposure to a competitive and changing

industry; the Group’s reliance on the

reputation of its existing brands and

exposure to inherent reputation risks;

the Group’s exposure to inherent

uncertainties associated with brand

development and expansion; the

Group’s reliance on the ongoing appeal

of its loyalty programme; the Group’s

exposure to a variety of risks related

to identifying, securing and retaining

franchise and management agreements;

the Group’s exposure to the risks of

hotel industry overcapacity; the Group’s

requirement to have the right people,

skills and capability to manage growth

and change; the risk that the Group’s

collective bargaining activity could

disrupt operations, increase labour

costs or interfere with the ability of

management to focus on executing

business strategies; the Group’s

exposure to cybersecurity and data

privacy risks; the Group’s exposure to

intellectual property risks; the risk that

the Group’s reputation and the value

of its brands are influenced by the

perception of various stakeholders of

the Group; the Group’s requirements

to comply with existing and changing

regulations and act in accordance with

societal expectations across numerous

countries, territories and jurisdictions;

the Group’s exposure to the risk of

litigation; the potential for domestic and

international environmental laws and

regulations to cause the Group to incur

substantial costs or subject the Group to

potential liabilities; the Group’s financial

performance being affected by changes

in tax laws; the Group’s dependence on

a wide range of external stakeholders

and business partners; the Group’s

exposure to a variety of risks associated

with safety, security and crisis

management; the Group’s reliance on

the resilience of its reservation system

and other key technology platforms and

the exposure to risks that could disrupt

their operation and/or integrity; the

Group’s exposure to political and

economic developments; the Group’s

exposure to continued disruption and

consequences from the war in Ukraine;

the Group’s exposure to disruption and

consequences from the conflict in the

Middle East; the potential for the Group

to face difficulties insuring its business;

the Group’s exposure to risks related

to executing and realising benefits

from strategic transactions, including

acquisitions and restructuring; the

Group’s exposure to a variety of risks

associated with its financial stability

and ability to borrow; the dependence

of the Group’s operations on maintaining

sufficient liquidity to meet all foreseeable

medium-term requirements and

provide headroom against unforeseen

obligations; the Group’s exposure to an

impairment of the carrying value of its

brands, goodwill or other tangible and

intangible assets negatively affecting

its consolidated operating results;

the Group’s exposure to fluctuations in

exchange rates, currency devaluations

or restructurings and to interest rate risk

in relation to its borrowings; the potential

for the Group to be affected by credit

risk on treasury transactions and loans

to owners; the Group’s exposure to

inherent risks in relation to changing

technology and systems; the various

operational, compliance and

reputational risks that the Group’s

integration of AI technologies into its

processes and systems may introduce;

the Group’s exposure to competition

from online travel agents and

intermediaries; the Group’s exposure

to the risk of events or stakeholder

expectations that adversely impact

domestic or international travel, including

climate change; the Group’s exposure

to climate change and sustainability risks;

and the Group’s exposure to risks

relating to its commitments in relation

to climate change.

The main factors that could affect

the business and financial results are

described in the Strategic Report of

the Annual Report and Form 20-F 2025.

Form 20-F cross-reference guide