<SEC-DOCUMENT>0001193125-14-228409.txt : 20140624
<SEC-HEADER>0001193125-14-228409.hdr.sgml : 20140624
<ACCEPTANCE-DATETIME>20140606131936
ACCESSION NUMBER:		0001193125-14-228409
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20140606
FILED AS OF DATE:		20140606
DATE AS OF CHANGE:		20140606

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTERCONTINENTAL HOTELS GROUP PLC /NEW/
		CENTRAL INDEX KEY:			0000858446
		STANDARD INDUSTRIAL CLASSIFICATION:	HOTELS & MOTELS [7011]
		IRS NUMBER:				250420260
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10409
		FILM NUMBER:		14895918

	BUSINESS ADDRESS:	
		STREET 1:		BROADWATER PARK
		STREET 2:		DENHAM
		CITY:			BUCKINGHAMSHIRE
		STATE:			X0
		ZIP:			UB9 5HJ
		BUSINESS PHONE:		4045513500

	MAIL ADDRESS:	
		STREET 1:		BROADWATER PARK
		STREET 2:		DENHAM
		CITY:			BUCKINGHAMSHIRE
		STATE:			X0
		ZIP:			UB9 5HJ

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SIX CONTINENTS PLC
		DATE OF NAME CHANGE:	19950531
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d739135d6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML><HEAD>
<TITLE>6-K</TITLE>
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington DC 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 6-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>REPORT OF FOREIGN PRIVATE ISSUER </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT TO RULE 13a-16 AND 15d-16 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>OF THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>June&nbsp;6, 2014 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>InterContinental Hotels Group PLC </B> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s name) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Broadwater
Park </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Denham, Buckinghamshire UB9 5HR </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether
the registrant files or will file annual reports under cover Form 20-F or Form 40-F. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20-F&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form
40-F&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1):&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Indicate by check mark
if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Yes&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;
&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If &#147;Yes&#148; is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-&nbsp;&nbsp;Not applicable </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT INDEX </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="94%"></TD></TR>
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<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:14.60pt; font-size:8pt; font-family:Times New Roman">Item</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-bottom:1.00pt solid #000000; width:37.25pt; font-size:8pt; font-family:Times New Roman">Description</P></TD></TR>


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<TD VALIGN="top" NOWRAP>1.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Circular dated June 6, 2014</TD></TR>
<TR>
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<TD VALIGN="top" NOWRAP>2.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release dated June 6, 2014</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information contained in this report is incorporated by reference into Registration Statement <FONT
STYLE="white-space:nowrap">Nos.&nbsp;333-181334</FONT> <FONT STYLE="white-space:nowrap">and&nbsp;333-126139.</FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>SIGNATURES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
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<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
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<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">INTERCONTINENTAL HOTELS GROUP PLC</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
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<TD VALIGN="top">(Registrant)</TD></TR>
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<TD VALIGN="top">Date:&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">June 6, 2014</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">By:&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;/s/ Nicolette Henfrey</P></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
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<TD VALIGN="bottom">Name:&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Nicolette Henfrey</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
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<TD VALIGN="bottom">Title:&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">SVP, Deputy Company Secretary and Head of Corporate Legal</TD></TR>
</TABLE>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. <B>If you are in any doubt about the action you should
take, you should consult your stockbroker, solicitor, accountant, bank manager or other independent financial adviser duly authorised under the Financial Services and Markets Act 2000 (as amended) immediately.</B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">If you have sold or otherwise transferred some or all of your Ordinary Shares, please send this document, together with the accompanying Form of Proxy, as soon as
possible to the purchaser or transferee or to the stockbroker, bank or other agent through whom the sale or transfer was effected, for delivery to the purchaser or transferee. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g728403g49n26.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:14pt; font-family:ARIAL" ALIGN="center"><B></B>InterContinental Hotels Group PLC<B> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><B>Incorporated and registered in England and Wales under the Companies Act 1985 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><B>Registered number 5134420 </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><B>Special Dividend
of US$2.93 (174.9 pence) per Existing Ordinary Share </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><B>and </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><B>12 for 13 Share Consolidation </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><B>and </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><B>Notice of General Meeting </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><B>This document should be read as a whole. Your attention is
drawn to the letter from the Chairman of InterContinental Hotels Group PLC which is set out on pages 4 to 6 of this document and which recommends you to vote in favour of the Resolutions to be proposed at the General Meeting referred to below. The
Resolutions will be voted on by taking a poll. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Application will be made to the UK Listing Authority for the New Ordinary Shares arising from the proposed
consolidation of the Company&#146;s ordinary share capital to be admitted to the premium segment of the Official List and to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the London Stock Exchange&#146;s main
market for listed securities. It is expected that dealings in the Existing Ordinary Shares will continue until 6.00pm on <B></B>Monday 30 June<B></B> 2014 and that Admission of the New Ordinary Shares will become effective and dealings for normal
settlement will commence at 8.00am on <B></B>Tuesday 1 July<B></B> 2014. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Notice of a General Meeting of the Company to be held at 9.30am on <B></B>Monday 30
June<B></B> 2014 at the Crowne Plaza London Kensington, 100 Cromwell Road, London SW7 4ER is set out at the end of this document. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">A Form of Proxy is enclosed and, to
be valid, should be completed, signed and returned so as to reach the Company&#146;s Registrar, Equiniti, at Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA no later than 9.30am on <B></B>Thursday 26 June<B></B> 2014 (or, if the General
Meeting is adjourned, 48 hours (excluding any <FONT STYLE="white-space:nowrap">UK&nbsp;non-working</FONT> days) before the time of the adjourned General Meeting). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Electronic Proxy Appointment is available for this General Meeting. This facility enables Shareholders to lodge their proxy appointment by electronic means through the
Registrar&#146;s website, www.sharevote.co.uk or, for those who hold their shares in CREST, through the CREST electronic proxy appointment service. Further details are set out in the notes to this document. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">At the General Meeting itself, the votes will be taken by poll rather than on a show of hands. The results of the polls will be announced as soon as practicable and will
appear on the Company&#146;s website, www.ihgplc.com/investors, under financial library. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Merrill Lynch International, which is authorised by the PRA and regulated in
the United Kingdom by the FCA and the PRA, is acting as a corporate broker to InterContinental Hotels Group PLC and no-one else in connection with the Special Dividend and Share Consolidation and will not be responsible to anyone other than
InterContinental Hotels Group PLC for providing the protections afforded to clients of Merrill Lynch International nor for providing advice in connection with the proposed Special Dividend and Share Consolidation or the contents of this document or
any other matter referred to herein. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL" ALIGN="center"><B>EXCHANGE RATE </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Unless
otherwise indicated, the &pound;:US$ exchange rate information used in this document is &pound;<B></B>0.597<B></B>:US$<B></B>1<B></B>. This rate has been determined using the WM / Reuters closing mid-point spot rate (to three decimal places) as at
4.00pm on Wednesday 4 June 2014. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B><A NAME="toc"></A>CONTENTS </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10.5pt; font-family:ARIAL"><A HREF="#tx728403_1"><B>EXPECTED TIMETABLE</B></A></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD HEIGHT="5" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10.5pt; font-family:ARIAL"><A HREF="#tx728403_2"><B>LETTER FROM THE CHAIRMAN OF INTERCONTINENTAL HOTELS GROUP PLC</B></A></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10.5pt; font-family:ARIAL"><A HREF="#tx728403_3">APPENDIX I FURTHER DETAILS OF THE SPECIAL DIVIDEND AND SHARE CONSOLIDATION</A></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10.5pt; font-family:ARIAL"><A HREF="#tx728403_4">APPENDIX II DEFINITIONS</A></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10.5pt; font-family:ARIAL"><A HREF="#tx728403_5"><B>NOTICE OF GENERAL MEETING</B></A></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL" ALIGN="center"><B><A NAME="tx728403_1"></A>EXPECTED TIMETABLE </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" ALIGN="center">


<TR>
<TD WIDTH="68%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="30%"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2014</B></TD></TR>


<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">Latest time and date for receipt of Forms of Proxy</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right">9.30am&nbsp;on&nbsp;<B></B>Thursday&nbsp;26&nbsp;June</TD></TR>
<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">Latest time and date for receipt by the ADR Depositary of completed voting instruction cards from holders of ADRs</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right">12.00pm (New York time) on<BR><B></B>Friday 27 June<B></B></TD></TR>
<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">General Meeting</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right">9.30am on <B></B>Monday 30 June<B></B></TD></TR>
<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">Record date for participation in the Dividend Reinvestment Plan for the Special Dividend</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right">5.00pm on <B></B>Monday 30 June<B></B></TD></TR>
<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">Shareholder record date for the Special Dividend and for the Share Consolidation</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right">6.00pm on <B></B>Monday 30 June<B></B></TD></TR>
<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">ADR holder record date for the Special Dividend and for the Share Consolidation</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right">4.00pm (New York time) on<BR><B></B>Monday 30 June<B></B></TD></TR>
<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">Commencement of dealings in New Ordinary Shares</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right">8.00am on <B></B>Tuesday 1 July<B></B></TD></TR>
<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">Ordinary Shares (but not ADSs) marked ex-Special Dividend</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><B></B>Tuesday 1 July<B></B></TD></TR>
<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">CREST accounts credited with New Ordinary Shares</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><B></B>Tuesday 1 July<B></B></TD></TR>
<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">ADR effective date for the Special Dividend and for the Share&nbsp;Consolidation</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right">9.30am (New York time)<BR>on <B></B>Tuesday 1 July<B></B></TD></TR>
<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">Commencement of dealings in new ADSs</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right">9.30am (New York time)<BR>on <B></B>Tuesday 1 July<B></B></TD></TR>
<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">Despatch of cheques for fractional entitlements and certificates for New Ordinary Shares; CREST accounts credited with the value of fractional entitlements</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><B></B>Wednesday 9 July<B></B></TD></TR>
<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">Payment of the Special Dividend to Shareholders and to holders of ADRs</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><B></B>Monday 14 July<B></B></TD></TR>
<TR>
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">Purchase of New Ordinary Shares for participants in the Dividend Reinvestment Plan</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><B></B>Monday 14 July<B></B></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><I>If any of the above times and / or dates change, the revised times and / or dates will be notified to Shareholders by announcement
through a Regulatory Information Service. </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><I>Unless otherwise stated, all references to times in this document are to London time. </I></P>
<P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1px;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; margin-left:1%; margin-right:1%; font-size:10.5pt; font-family:ARIAL"><B>Shareholder Helpline </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; padding-bottom:0pt; margin-left:1%; margin-right:1%; font-size:10.5pt; font-family:ARIAL">If you have any questions about the Special Dividend or the Share Consolidation please call the Shareholder
Helpline on 0871 384 2165 (or +44 121 415 0820 if calling from outside of the United Kingdom) between 8.30am and 5.30pm Monday to Friday (except UK public holidays). Calls to the Shareholder Helpline cost 8 pence per minute, excluding VAT plus
network extras. Other network providers&#146; costs may vary. Calls to the Shareholder Helpline from outside the United Kingdom will be charged at the applicable international rates. Different charges may apply to calls from mobile telephones and
calls may be recorded and randomly monitored for security and training purposes. For legal reasons, the Shareholder Helpline will be unable to give advice on the merits of the Special Dividend or the Share Consolidation or to provide financial, tax
or investment advice. </P></div>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL" ALIGN="center"><B><A NAME="tx728403_2"></A>LETTER FROM THE CHAIRMAN OF INTERCONTINENTAL HOTELS GROUP PLC </B></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="right"><B></B>


<IMG SRC="g728403g49n26.jpg" ALT="LOGO">
<B></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right"><B></B>6 June<B></B> 2014 </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><I>To: Holders of Existing Ordinary Shares, holders of existing ADRs and holders of awards under the Share Plans </I></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Dear Shareholder </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">On Friday 2&nbsp;May 2014 the Board announced its intention to
return US$750 million to Shareholders by way of a Special Dividend with a Share Consolidation. The purpose of this document is to provide Shareholders with further details of the proposals, and to seek Shareholders&#146; consent to the Share
Consolidation and for a renewed authority to enable the Company to make market purchases of its New Ordinary Shares. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">IHG has an asset-light business model that is
highly cash generative, and a clear and consistent strategy for how it will use the cash it generates. Under this strategy, IHG will continue to invest in the growth of the business, to pay a sustainable ordinary dividend, to maintain an efficient
balance sheet, and to return surplus funds to Shareholders. This US$750 million return reflects this clear strategy and continues IHG&#146;s excellent track record of delivering sustainable and attractive returns to its Shareholders. Since the
demerger of the Company from Six Continents PLC in April 2003 and following the payment of the Special Dividend, IHG will have returned US$<B></B>10.3<B></B> billion to Shareholders, including US$<B></B>1.6<B></B> billion of ordinary dividends. IHG
will have made additional returns to Shareholders in eight of the 11 years that it has been a standalone public company. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Special Dividend </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">The proposed Special Dividend of approximately US$750 million represents US$<B></B>2.93<B></B> (<B></B>174.9<B></B> pence) per Existing Ordinary Share. The Board is
proposing to pay the Special Dividend to Shareholders on the Register as at 6.00pm on <B></B>Monday 30 June<B></B> 2014 in pounds sterling and to ADR holders on the ADR register as at 4.00pm (New York time) on <B></B>Monday 30 June<B> </B>2014
(being the close of business on the day before the ADR effective date) in US dollars, in each case as an interim dividend in respect of the financial year ending 31&nbsp;December 2014. The Special Dividend is expected to be paid to Shareholders and
to holders of ADRs on <B></B>Monday 14 July<B></B> 2014. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Share Consolidation </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">As at the close of business on <B></B>Wednesday 4 June<B></B> 2014, when the closing mid-market price per Existing Ordinary Share was <B></B><B></B>2,309<B></B> pence
and there were <B></B><B></B>255,793,702<B></B> Existing Ordinary Shares in issue (excluding the 12.5&nbsp;million Existing Ordinary Shares held by IHG in treasury), the total amount of the Special Dividend was equivalent to <B></B>7.6<B></B> per
cent. of the market capitalisation of the Company. The effect of the Share Consolidation will be to reduce the number of Ordinary Shares in issue (including those held in treasury) by approximately the same percentage. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">The Share Consolidation is intended to maintain comparability, as far as possible, of the Company&#146;s share price before and after the payment of the Special
Dividend. Accordingly, the value of any outstanding share awards granted under the Share Plans will be preserved (subject to normal market fluctuations) without the need to adjust the number of underlying Ordinary Shares. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">As all Ordinary Shares in the Company will be consolidated, each Shareholder&#146;s percentage holdings in the total issued share capital of the Company immediately
before and after the implementation of the Share Consolidation will (save in respect of fractional entitlements) remain unchanged. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">The Share Consolidation will
replace every <B></B><B></B><I></I>13<I></I><B></B> Existing Ordinary Share<B></B>s<B></B> with <B></B><B></B>12<B></B> New Ordinary Shares. Fractional entitlements arising from the Share Consolidation will be aggregated and sold in the market on
behalf of the relevant Shareholders. The proceeds of the sale are expected to be sent to Shareholders on <B></B>Wednesday 9 July<B></B> 2014 in accordance with paragraph <B></B>2<B> </B>of Appendix I. The value of any Shareholder&#146;s fractional
entitlement will not exceed the value of one New Ordinary Share. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">For purely illustrative purposes, examples of the effects of the Special Dividend and the Share Consolidation in respect of
certain holdings of Existing Ordinary Shares are set out below: </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" NOWRAP STYLE="border-bottom:1.00px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL"><B>Existing Ordinary Shares</B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>New Ordinary Shares</B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Special Dividend</B></P></TD></TR>


<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">100<B></B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><B></B>92<B></B></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right">&pound;<B></B>175<B></B></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">250</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><B></B>230<B></B></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right">&pound;<B></B>437<B></B></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">500<B></B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><B></B>461<B></B></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right">&pound;<B></B>875<B></B></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">1,000<B></B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><B></B>923<B></B></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right">&pound;<B></B>1,749<B></B></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">These examples do not show fractional entitlements, the value of which will depend on the market value of the New Ordinary Shares at the
time of sale, as set out in Appendix I. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Following the Share Consolidation, and assuming no further shares were to be issued or repurchased between <B></B>Wednesday
4 June<B></B> 2014 (being the last practicable date prior to publication of this document) and the date on which the Share Consolidation becomes effective, the Company&#146;s total issued share capital (excluding treasury shares) will comprise
<B></B>236,117,256<B></B> New Ordinary Shares and the Company will hold <B></B>11,538,456<B></B> New Ordinary Shares in treasury. The New Ordinary Shares held by Shareholders will have the same rights, including voting and dividend rights, as the
Existing Ordinary Shares. New Ordinary Shares held in treasury will not rank for dividends or carry voting rights. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Further details of the Special Dividend and
Share Consolidation are set out in Appendix I. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>American Depositary Receipts </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">As outlined above, the Company is proposing to pay the Special Dividend to all ADR holders on the ADR register as at 4.00pm (New York time) on <B></B>Monday 30 June<B>
</B>2014 (being the close of business on the day before the ADR effective date) in US dollars at an amount of US$<B></B>2.93<B> </B>(<B></B>174.9<B> </B>pence) per ADS. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Holders of ADRs should read paragraphs <B></B>7<B></B> and <B></B>8<B></B> of Appendix I, which contain important information regarding the Special Dividend and Share
Consolidation which is relevant to them, and a description of certain US federal income tax consequences of the Special Dividend and Share Consolidation. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Share
Plans </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Details of the Special Dividend and the Share Consolidation with respect to the Share Plans are set out in paragraph <B></B>6<B></B> of Appendix I. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Taxation </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">A summary of certain taxation consequences of the Special Dividend,
the Share Consolidation and the Company&#146;s Dividend Reinvestment Plan for certain categories of UK resident Shareholders, and certain US Shareholders and US holders of ADRs, is set out in paragraph <B></B>8<B></B> of Appendix I. As set out in
further detail in that paragraph, the Directors have been advised that: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:14pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the tax treatment of the UK resident Shareholders who receive the Special Dividend will generally be similar to the tax treatment of such holders receiving any other dividend paid by the Company; and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:14pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">UK resident Shareholders should not generally be treated as having made a disposal of their Existing Ordinary Shares for the purposes of UK taxation of chargeable gains as a result of the Share Consolidation.
</TD></TR></TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Shareholders can view the Company&#146;s historic share price using the share price calculator on the Company&#146;s website,
www.ihgplc.com/investors. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Shareholders and holders of ADRs should read paragraph 8 of Appendix I and, if they are in any doubt as to their tax position, consult
their own independent tax advisers. </B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>General Meeting </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">A notice
convening the General Meeting of the Company to be held at 9.30am on <B></B>Monday 30 June<B></B> 2014, at the Crowne Plaza London Kensington, 100 Cromwell Road, London SW7 4ER is set out at the end of this document. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">The first Resolution will effect the Share Consolidation, following which the total number of issued Ordinary Shares will be reduced and the nominal value of the
Ordinary Shares will change. As a result, the general authority to make market purchases of Existing Ordinary Shares which was given to the Company at the Annual General Meeting of the Company held on Friday 2&nbsp;May 2014 may no longer be used.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">The purpose of the second Resolution is, therefore, to put in place a new authority to enable the Company to make market purchases of New Ordinary Shares, at the
minimum and maximum prices specified in the Resolution. This authority will apply to up to <B></B>23,611,725<B> </B>New Ordinary Shares, representing approximately 10&nbsp;per cent. of the Company&#146;s total issued share capital after the Share
Consolidation (excluding treasury shares). The Company commenced its Share Buyback Programme in November 2012 and completed it on <B></B>Thursday 29 May<B> </B>2014. The Directors would exercise this authority to make further purchases of New
Ordinary Shares only if they considered it to be in the best interests of Shareholders and if the purchase could be expected to result in an increase in earnings per share. The Company may either cancel any shares it purchases under this authority
or transfer them into treasury (and subsequently sell or transfer them out of treasury or cancel them). </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Action to be taken </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Whether or not you propose to attend the General Meeting, you are requested to complete and sign the enclosed Form of Proxy. Completed Forms of Proxy should be returned
to Equiniti Limited at Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA, so as to arrive as soon as possible, and in any event so as to be received by Equiniti Registrars no later than 9.30am on <B></B>Thursday 26&nbsp;June<B></B> 2014.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">If you hold shares in CREST, you may appoint a proxy by completing and transmitting a CREST Proxy Instruction to Equiniti Registrars (CREST participant ID number
RA19) so that it is received by no later than 9.30am on <B></B>Thursday 26 June<B></B> 2014. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">The return of a completed Form of Proxy or CREST Proxy Instruction will
not prevent you from attending the General Meeting and voting in person if you wish to do so. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Electronic Proxy Appointment is available for this General Meeting.
This facility enables Shareholders to lodge their proxy appointment by electronic means on a website provided by Equiniti Limited via www.sharevote.co.uk. Further details are set out in the notes to the Form of Proxy. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Voting instructions for ADR holders are set out in paragraph <B></B>7<B></B> of Appendix I. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">The Resolutions will be decided on a poll, rather than a show of hands, to enable those Shareholders who may be unable to attend the General Meeting in person to
participate in the vote. The results of the polls will be announced to the London and New York Stock Exchanges and will appear on the Company&#146;s website, www.ihgplc.com/investors, under financial library. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Recommendation </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Your Board considers that the passing of the Resolutions
is in the best interests of Shareholders as a whole. Accordingly, your Board unanimously recommends Shareholders to vote in favour of the Resolutions to be proposed at the General Meeting as the members of the Board intend to do in respect of their
own beneficial holdings. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Yours sincerely </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g728403g16b70.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Patrick Cescau </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Chairman </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL" ALIGN="center"><B><A NAME="tx728403_3"></A>APPENDIX I </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL" ALIGN="center"><B>FURTHER DETAILS OF THE SPECIAL DIVIDEND AND </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL" ALIGN="center"><B>SHARE CONSOLIDATION </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Special Dividend and Share Consolidation </B></TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The Company intends to pay a Special Dividend of US$<B></B>2.93<B>
</B>(<B></B>174.9<B> </B>pence) per Existing Ordinary&nbsp;Share. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The effect of the Share Consolidation will be that Shareholders on the Register at the close of
business on the Record Date will, on the completion of the Share Consolidation, receive: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL" ALIGN="center"><B>12 New Ordinary Shares for 13 Existing Ordinary Shares
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">and in that proportion for any other number of Existing Ordinary Shares then held. The proportion of the total issued share capital of the Company held by
each Shareholder immediately before and following the Share Consolidation will, save for fractional entitlements, remain unchanged. Apart from having a different nominal value, each New Ordinary Share will carry the same rights as set out in the
Company&#146;s articles of association that currently attach to the Existing Ordinary&nbsp;Shares. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">To effect the Share Consolidation it may be necessary to issue
or repurchase for cancellation up to <B></B>12<B></B> additional Existing Ordinary Shares so that the number of the Company&#146;s Existing Ordinary Shares is exactly divisible by <B></B>13<B></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Mandates and other instructions for the payment of dividends will, unless and until revoked, continue to apply to the New Ordinary Shares. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Holders of ADRs should read paragraphs <B></B>7<B> </B>and <B></B>8<B> </B>of this Appendix I, which contain important information regarding the Special Dividend and
Share Consolidation which is relevant to them, and a description of certain US federal income tax consequences of the Special Dividend and Share Consolidation. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Effects of proposals </B></TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">For purely illustrative purposes, examples of the effects of the Special Dividend and the
Share Consolidation in respect of certain holdings of Existing Ordinary Shares are set out below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" NOWRAP STYLE="border-bottom:1.00px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL"><B>Existing Ordinary Shares</B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>New Ordinary Shares</B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Special Dividend</B></P></TD></TR>


<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">100<B></B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><B>&nbsp;&nbsp;</B>92<B></B></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right">&pound;<B></B>175<B></B></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">250<B></B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><B></B>230<B></B></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right">&pound;<B></B>437<B></B></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">500<B></B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><B></B>461<B></B></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right">&pound;<B></B>875<B></B></TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">1,000<B></B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><B></B>923<B></B></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right">&pound;<B></B>1,749<B></B></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">These examples do not show fractional entitlements, the value of which will depend on the market value of the New Ordinary Shares at
the time of sale, as set out below. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Shareholders whose holdings of Existing Ordinary Shares cannot be consolidated into an exact number of New Ordinary Shares
will be left with a fractional entitlement. New Ordinary Shares representing such fractional entitlements will be aggregated and sold in the market on <B></B>Tuesday 1&nbsp;July<B></B> 2014 for the best price reasonably obtainable on behalf of the
relevant Shareholders. The net proceeds of the sale, after the deduction of the expenses of the sale, will be paid in due proportion to the relevant Shareholders. Cheques in respect of the net proceeds of sale are expected to be despatched on
<B></B>Wednesday 9 July<B></B> 2014. Shareholders who hold only one Existing Ordinary Share will only receive cash. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>3.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Conditions </B></TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The Share Consolidation is conditional on the first Resolution set out in the Notice of General
Meeting being passed and becoming unconditional. This Resolution is conditional on the New Ordinary Shares being admitted to the premium segment of the Official List by the UK Listing Authority and being admitted to trading on the London Stock
Exchange&#146;s main market for listed securities by the London Stock Exchange. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">7 </P>


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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>4.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Share Buyback Programme </B></TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The Company is seeking authority to purchase up to <B></B>23,611,725<B> </B>New
Ordinary Shares, this being approximately 10&nbsp;per cent. of its total issued share capital after the Share Consolidation (excluding treasury shares) at, or between, the minimum and maximum prices specified in the second Resolution set out in the
Notice of General Meeting. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The Company announced the Share Buyback Programme on Tuesday 7&nbsp;August 2012, pursuant to which it proposed to return US$500 million
to Shareholders. The Company commenced the Share Buyback Programme in November 2012 and completed it on Thursday 29 May 2014. The Directors would exercise this authority to make further purchases of New Ordinary Shares only if they considered it to
be in the best interests of Shareholders and if the purchase could be expected to result in an increase in earnings per share. The Company may either cancel any shares it purchases under this authority or transfer them into treasury (and
subsequently sell or transfer them out of treasury or cancel them). Any shares held in treasury would not rank for dividends and would not carry any voting rights. The Company currently holds 12.5&nbsp;million treasury shares, and is expected to
hold 11,538,456 treasury shares following the Share Consolidation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">As at <B></B>Wednesday 4 June<B></B> 2014 (being the last practicable date prior to the
publication of this document), there were no outstanding share options in respect of the share capital of the&nbsp;Company. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The authority sought by way of the
second Resolution set out in the Notice of General Meeting will expire on the date upon which the 2015 Annual General Meeting concludes, or on <B></B>1 July<B></B> 2015, whichever is the earlier. </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>5.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Dividend Reinvestment Plan </B></TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The Company currently operates a Dividend Reinvestment Plan under which eligible
Shareholders may use their dividends to buy additional shares in the Company. Those eligible Shareholders who do not currently participate in the Dividend Reinvestment Plan and who wish to participate in time for the Special Dividend should contact
the Company&#146;s Registrar, Equiniti, at Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA to request an application form or, for further information, please call the Shareholder Helpline on 0871 384 2165
(or&nbsp;+44&nbsp;121&nbsp;415&nbsp;0820 if calling from outside of the United Kingdom) between 8.30am and 5.30pm Monday to Friday (except UK public holidays). Calls to the Shareholder Helpline cost 8 pence per minute, excluding VAT plus network
extras. Other network providers&#146; costs may vary. Calls to the Shareholder Helpline from outside the United Kingdom will be charged at the applicable international rates. Different charges may apply to calls from mobile telephones and calls may
be recorded and randomly monitored for security and training purposes. For legal reasons, the Shareholder Helpline will be unable to give advice on the merits of the Special Dividend or the Share Consolidation or to provide financial, tax or
investment advice. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">In order for an eligible Shareholder to participate in the Dividend Reinvestment Plan for the Special Dividend, a completed application form
must be received by the Registrar by 5.00pm on <B></B>Monday 30 June<B> </B>2014. Conversely, any Shareholder who is currently a participant in the Dividend Reinvestment Plan, but who does not wish his / her Special Dividend to be reinvested in
additional New Ordinary Shares, should notify the Registrar to revoke his / her participation by no later than 5.00pm on <B></B>Monday 30 June<B></B> 2014, to ensure that this instruction is implemented. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">All existing instructions relating to the Dividend Reinvestment Plan (including any recurring Dividend Reinvestment Plan mandates received in paper or by electronic
means via CREST) will operate in respect of the New Ordinary Shares. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>6.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Share Plans </B></TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Participants holding forfeitable Existing Ordinary Shares under the InterContinental Hotels Group
Annual Bonus Plan and / or InterContinental Hotels Group Annual Performance Plan will be eligible to receive the Special Dividend and their shares will be subject to the Share Consolidation in the same way as other Shareholders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Participants holding unvested conditional share awards under the InterContinental Hotels Group Annual Bonus Plan and / or InterContinental Hotels Group Annual
Performance Plan who are </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">
entitled to receive cash payments equal to the net dividends paid on the shares subject to those awards will receive a cash payment equal to the net amount of the Special Dividend, and the number
of New Ordinary Shares to which they will be entitled upon vesting of the awards will be adjusted so as to reflect the Share Consolidation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Participants holding
other unvested conditional share awards granted under the InterContinental Hotels Group Annual Bonus Plan and / or InterContinental Hotels Group Annual Performance Plan and / or the InterContinental Hotels Group Long Term Incentive Plan will not be
entitled to receive the Special Dividend in respect of those awards. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The Directors have determined, in relation to those participants who will not be entitled to
receive the Special Dividend, that as the effect of the Share Consolidation will be to maintain comparability, as far as possible, of the Company&#146;s share price and thus to preserve the value of their share awards (subject to normal market
fluctuations), the participants will not be disadvantaged by the Share Consolidation and so no adjustment to their share awards is required. Following the Share Consolidation, holders of such awards will be entitled, upon vesting of their share
awards, to receive the same number of New Ordinary Shares as the number of Existing Ordinary Shares to which they would have been entitled had the Share Consolidation not&nbsp;occurred. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Participants holding Existing Ordinary Shares within the Britvic Share Incentive Plan will be eligible to receive the Special Dividend and their shares will be subject
to the Share Consolidation in the same way as other Shareholders. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">As at <B></B>Wednesday 4 June<B></B> 2014 (being the last practicable date prior to the
publication of this document), there were no outstanding share options in respect of the share capital of the&nbsp;Company. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The Share Plans are operated in such a
way as to ensure that Ordinary Shares are not issued to employees under the Share Plans in excess of the maximum permitted percentage of the Company&#146;s issued share capital under the relevant institutional investor guidelines. </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>7.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>ADRs </B></TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Voting by ADR holders </I></B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The latest time for ADR holders on the ADR register as at <B></B>Friday 6 June<B></B> 2014 to provide the ADR Depositary with voting instructions for the General
Meeting is 12.00pm (New York time) on <B></B>Friday&nbsp;27&nbsp;June<B> </B>2014. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Holders of ADRs will not, except as mentioned below, be entitled to attend the
General Meeting. However, the ADR Depositary, as registered holder of the Existing Ordinary Shares underlying the ADRs, will be so entitled and will vote or appoint a proxy in respect of such shares in accordance with written instructions received
from holders of ADRs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Holders of ADRs who wish to attend the General Meeting in person should take steps to present their ADRs to the ADR Depositary for
cancellation and (upon compliance with the terms of the ADR Deposit Agreement, including payment of the ADR Depositary&#146;s fees and any applicable taxes and governmental charges) delivery of Existing Ordinary Shares so as to become registered
members of the Company prior to the General Meeting. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">If no voting instructions are received by the ADR Depositary from any holder with respect to any of their
ADRs on or before the cut-off time of 12.00pm (New York time) on <B></B>Friday 27 June<B></B> 2014, in accordance with the provisions of, and subject to the limitations provided for in, the ADR Deposit Agreement, the ADR Depositary shall deem such
holder to have instructed the ADR Depositary to give a discretionary proxy to a person designated by the Company with respect to the relevant ADRs, and the ADR Depositary shall endeavour insofar as practicable and permitted under the provisions
governing deposited ADRs to give a discretionary proxy to a person designated by the Company to vote the ADRs as to which such instructions are so deemed given, provided that no such instruction shall be deemed given and no discretionary proxy shall
be given with respect to any matter as to which the Company informs the ADR Depositary or the ADR Depositary reasonably believes (in the case of (b)&nbsp;or (c)&nbsp;below) that (a)&nbsp;the Company does not wish such proxy given,
(b)&nbsp;substantial opposition exists or (c)&nbsp;materially affects the rights of Shareholders. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B><I>Special Dividend and Share Consolidation </I></B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The Company is proposing to pay the Special Dividend to all ADR holders on the ADR register as at 4.00pm (New York time) on <B></B>Monday 30 June<B> </B>2014 (being
the close of business on the day before the ADR effective date) in US dollars at an amount of US$<B></B>2.93<B> </B>(<B></B>174.9<B> </B>pence) per ADS. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Following
the Share Consolidation becoming effective, the Existing Ordinary Shares held by the ADR Depositary will be replaced with New Ordinary Shares. As a result of the Share Consolidation and Special Dividend, for each existing ADR held at 4.00pm (New
York time) on <B></B>Monday 30 June<B> </B>2014 (being the close of business on the day before the ADR effective date), holders will, upon cancellation of their existing ADRs, be issued and receive new ADRs and, in connection with the Special
Dividend, will also be paid US$<B></B>2.93<B> </B>(<B></B>174.9<B> </B>pence) per ADS (to be distributed in accordance with the ADR Deposit Agreement after giving effect to the fees provided for therein). Fractions of new ADRs will not be issued to
holders of existing ADRs. All fractions to which holders of existing ADRs would otherwise have been entitled will be aggregated and sold in the market as soon as practicable after the Share Consolidation becomes effective and the net proceeds of
sale will be paid to the holders of the existing ADRs entitled thereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Following the Share Consolidation becoming effective, the ADR Depositary will mail a
notice to registered holders of ADRs regarding the mechanics of the cancellation of their existing ADRs. For those ADR holders who hold a book-entry position through the Direct Registration System (&#147;<B>DRS</B>&#148;), the ADR Depositary will
automatically cancel the existing ADRs and mail a new DRS Statement advising the number of new ADRs to be credited to the holder&#146;s account along with the Special Dividend (to be distributed in accordance with the ADR Deposit Agreement after
giving effect to the fees provided for therein) and any net proceeds from the sale of fractional ADRs to which the holder may be entitled. No action will be necessary on the part of the ADR holder. For registered holders of certificated ADRs,
instructions for the cancellation of such certificated ADRs will be set out in the Letter of Transmittal. If such holders do not surrender their certificates for cancellation, they will not receive the new entitlement and all dividends will be held
until such time as they surrender their old certificates. ADR holders who hold their ADRs through a broker, financial institution or other nominee or otherwise, must rely on the procedures of such broker, financial institution or other nominee. The
ADR Depositary will, upon surrender of the existing ADRs for cancellation, cancel such existing ADRs, deduct the applicable ADR cancellation fees from the Special Dividend amount, and deliver new ADRs, the Special Dividend (net of the
ADR&nbsp;cancellation fees owing) and any net proceeds from the sale of fractional ADRs to which the holder may be entitled. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B><I>Available information
</I></B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The Company is currently subject to the information requirements of the US Securities Exchange Act applicable to foreign private issuers having securities
registered under Section&nbsp;12 of that Act and, as required by that Act, files an annual report and other information with the SEC. The reports and other information filed with the SEC can be inspected and copied at the public reference room
located at 100 F. Street, NE, Washington DC 20549 (www.sec.gov). Please call the SEC at +1-800-SEC-0330 for further information on the public reference rooms and their copy charges. </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>8.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Taxation </B></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B><I>A.</I></B></TD>
<TD ALIGN="left" VALIGN="top"><B><I>United Kingdom Taxation </I></B></TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B>The following summary is intended as a general guide only and relates only to
certain limited aspects of the UK taxation treatment of the Special Dividend, the related Share Consolidation and the Company&#146;s Dividend Reinvestment Plan. It is based on current UK&nbsp;tax law and what is understood to be the current practice
of HM Revenue and Customs. It applies only to Shareholders who are resident for tax purposes in the UK (except insofar as express reference is made to the treatment of non-UK residents), who are the absolute beneficial owners of their shares and any
dividends paid on them, and hold them as an investment (but not through an individual savings account or self-invested personal pension). The tax position of certain categories of Shareholders who are subject to special rules (such as persons
acquiring their shares in connection with employment, dealers in securities, insurance companies and collective investment schemes) is not considered. </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B>Shareholders who are in any doubt as to their tax position or who may be subject to tax in a jurisdiction other than
the UK are strongly recommended to consult their own independent tax advisers. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Shareholders can view the Company&#146;s historic share price using the share
price calculator on the Company&#146;s website, www.ihgplc.com/investors. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B>Special Dividend </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The Company is not required to withhold tax when paying a dividend. Liability to tax on the Special Dividend will depend upon the individual circumstances of a
Shareholder. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>(i)</I></TD>
<TD ALIGN="left" VALIGN="top"><I>UK resident individual Shareholders</I> </TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">An individual Shareholder who is resident for tax purposes in the UK and
who receives the Special Dividend will generally be entitled to a tax credit equal to one-ninth of the amount of the dividend received, which is equivalent to 10&nbsp;per cent. of the aggregate of the dividend received and the tax credit (the
&#147;<B>gross dividend</B>&#148;), and will be subject to income tax on the gross dividend. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">An individual UK resident Shareholder who is subject to income tax at
a rate or rates not exceeding the basic rate will be liable to tax on the gross dividend at the rate of 10&nbsp;per cent., so that the tax credit will satisfy the income tax liability of such a Shareholder in full. Where the tax credit exceeds the
Shareholder&#146;s tax liability the Shareholder cannot claim repayment of the tax credit from HM Revenue and Customs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">An individual UK resident Shareholder who
is subject to income tax at the higher rate will be liable to income tax on the gross dividend at the rate of 32.5&nbsp;per cent. to the extent that such sum, when treated as the top slice of that Shareholder&#146;s income, falls within the bracket
for higher rate income tax. To the extent the gross dividend falls within that bracket, after taking into account the 10&nbsp;per cent. tax credit a higher rate taxpayer will therefore be liable to additional income tax equal to 22.5&nbsp;per cent.
of the gross dividend, which equates to 25&nbsp;per cent. of the net dividend. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">An individual UK resident Shareholder who is subject to income tax at the
additional rate will be liable to income tax on the gross dividend at the rate of 37.5&nbsp;per cent. to the extent that such sum, when treated as the top slice of that Shareholder&#146;s income, exceeds the threshold for additional rate income tax.
To the extent the gross dividend exceeds that threshold, after taking into account the 10&nbsp;per cent. tax credit an additional rate taxpayer will therefore be liable to additional income tax of 27.5&nbsp;per cent. of the gross dividend, which
equates to approximately 30.6&nbsp;per cent. of the net dividend. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>(ii)</I></TD>
<TD ALIGN="left" VALIGN="top"><I>UK resident corporate Shareholders</I> </TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">For UK resident corporate Shareholders, it is likely that the Special
Dividend will fall within one or more of the classes of dividend qualifying for exemption from corporation tax. However, it should be noted that the exemptions are not comprehensive and are also subject to anti-avoidance rules. Shareholders within
the charge to corporation tax should consult their own independent tax&nbsp;advisers. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>(iii)</I></TD>
<TD ALIGN="left" VALIGN="top"><I>UK resident exempt Shareholders</I> </TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">UK resident Shareholders who are not liable to UK tax on dividends, including
pension funds and charities, are not entitled to claim repayment of the tax credit. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>(iv)</I></TD>
<TD ALIGN="left" VALIGN="top"><I>Non-UK resident Shareholders</I> </TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Shareholders who are resident outside the UK for tax purposes will not generally
be able to claim repayment of any part of the tax credit attaching to the Special Dividend, although this will depend on the existence and terms of any double taxation convention between the UK and the country in which such Shareholder is resident.
A Shareholder resident outside the UK may also be subject to non-UK taxation on dividend income under local law. A Shareholder who is resident outside the UK for tax purposes should consult his or her own independent tax advisers concerning his or
her tax position in respect of the Special Dividend. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B>Share Consolidation </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">It is
expected that, for the purposes of UK taxation on chargeable gains, the Share Consolidation will be treated as follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">the New Ordinary Shares arising from the Share Consolidation will result from a reorganisation of the share capital of the Company. Accordingly, to the extent that a Shareholder receives New Ordinary Shares, the
Shareholder should not be treated as making a disposal of all or part of the Shareholder&#146;s holding of Existing Ordinary Shares by reason of the Share Consolidation being implemented, and the New Ordinary Shares which replace a
Shareholder&#146;s holding of Existing Ordinary Shares (the &#147;<B>new holding</B>&#148;) as a result of the Share Consolidation will be treated as the same asset acquired at the same time as the Shareholder&#146;s holding of Existing Ordinary
Shares was acquired; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">to the extent that a Shareholder receives cash by virtue of a sale on his or her behalf of any New Ordinary Shares to which he or she has a fractional entitlement, the Shareholder will not in practice normally be
treated as making a part disposal of the Shareholder&#146;s holding of Existing Ordinary Shares, the proceeds instead being deducted from the base cost of the Shareholder&#146;s new holding. If those proceeds exceed that base cost, however, or if a
Shareholder holds only one Existing Ordinary Share at the Effective Date and so is not entitled to any New Ordinary Shares, the Shareholder will be treated as disposing of part or all of his or her existing holding of Ordinary Shares and will be
subject to tax in respect of any chargeable gain thereby realised; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">on a subsequent disposal of the whole or part of the New Ordinary Shares comprised in the new holding, a Shareholder may, depending on his or her circumstances, be subject to tax on the amount of any chargeable gain
realised. </TD></TR></TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B>Dividend Reinvestment Plan </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">It is expected
that for the purposes of UK taxation, Shareholders who elect to use the cash Special Dividend to buy additional shares under the Dividend Reinvestment Plan will be treated as follows: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">an individual Shareholder, for income tax purposes, will be treated in the same manner as if he or she received the Special Dividend in cash. For capital gains tax purposes, the cost of the additional shares acquired
with the Special Dividend, including any dealing charges and stamp duty or stamp duty reserve tax, should be the base cost of the additional shares purchased on the individual Shareholder&#146;s behalf; and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">a corporate Shareholder, for corporation tax purposes, will be treated in the same manner as if it received the Special Dividend in cash. For the purposes of corporation tax on chargeable gains, the cost of the
additional shares acquired with the Special Dividend, including any dealing charges and stamp duty or stamp duty reserve tax, should be the base cost of the additional shares purchased on the corporate Shareholder&#146;s behalf. </TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B>Transactions in Securities anti-avoidance </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Under the provisions of
Chapter 1 of Part 13 Income Tax Act 2007 (for individuals) and Part 15 Corporation Tax Act 2010 (for companies), in each case as amended, HM Revenue and Customs can, in certain circumstances, counteract tax advantages arising in relation to certain
transactions in securities. It is not expected that these provisions should be engaged in respect of the Special Dividend, and no clearance has been or will be sought by the Company from HM Revenue and Customs in relation to their applicability to
the Special Dividend. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B><I>B.</I></B></TD>
<TD ALIGN="left" VALIGN="top"><B><I>United States Federal Income Taxation</I></B> </TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B>This disclosure is limited to the US federal tax issues
addressed herein. Additional issues may exist that are not addressed in this disclosure and that could affect the US federal tax treatment of the Special Dividend and related Share Consolidation. This tax disclosure was written in connection with
the Special Dividend and related Share Consolidation and it cannot be used by any Shareholder or ADR holder for the purpose of avoiding penalties that may be asserted against the Shareholder or ADR holder under the Internal Revenue
</B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B>
Code of 1986, as amended (the &#147;Code&#148;). Shareholders and ADR holders should seek their own advice based on their particular circumstances from their own independent tax advisers.
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">As used herein, a &#147;<B>US Holder</B>&#148; is a beneficial owner of Existing Ordinary Shares or ADRs that is, for US federal income tax purposes:
(i)&nbsp;a citizen or individual resident of the United States; (ii)&nbsp;a corporation, or other entity taxable as a corporation, created or organised in or under the laws of the United States, any state therein or the District of Columbia; or
(iii)&nbsp;an estate or trust the income of which is subject to US federal income taxation regardless of its source. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The following is a discussion of certain US
federal income tax consequences of the Special Dividend and related Share Consolidation to the US Holders described below, but it does not purport to be a comprehensive description of all the tax considerations that may be relevant to a particular
person. This discussion does not address US state, local and non-US tax consequences. The discussion addresses only US Holders who hold Existing Ordinary Shares or ADRs as capital assets for US federal income tax purposes. In addition, it does not
describe all of the tax consequences that may be relevant in light of a US Holder&#146;s particular circumstances, including alternative minimum tax consequences, any aspect of the provisions of the Code commonly referred to as Medicare contribution
tax, and consequences applicable to US Holders subject to special rules, such as: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:14pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">certain financial institutions; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:14pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">dealers and certain traders in securities or foreign currencies; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:14pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">persons holding Existing Ordinary Shares or ADRs as part of a hedge, straddle, conversion or other integrated transaction; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:14pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">persons whose functional currency for US federal income tax purposes is not the US dollar; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:14pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">partnerships or other entities classified as partnerships for US federal income tax purposes; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:14pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">tax-exempt organisations; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:14pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">persons holding Existing Ordinary Shares or ADRs in connection with a trade or business conducted outside of the United States; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:14pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">persons that own or are deemed to own 10&nbsp;per cent. or more of the Company&#146;s voting stock. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">This discussion is
based on the Code, administrative pronouncements, judicial decisions and final, temporary and proposed US Treasury regulations, all as of the date hereof. These laws are subject to change, possibly on a retroactive basis. It is also based, in part,
on representations by the ADR Depositary and assumes that each obligation under the ADR Deposit Agreement and any related agreement will be performed in accordance with its terms. <B>US Holders should consult their own independent tax advisers
concerning the US federal, state, local and <FONT STYLE="white-space:nowrap">non-US</FONT> tax consequences of the Special Dividend and related Share Consolidation in their particular circumstances.</B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">In general, a US Holder of ADRs will be treated as the owner of the underlying Ordinary Shares represented by those ADRs for US federal income tax purposes. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The US Treasury has expressed concerns that parties to whom ADSs are pre-released may be taking actions that are inconsistent with the claiming of foreign tax credits
for US Holders of ADSs. Such actions would also be inconsistent with the claiming of the preferential rates of tax applicable to dividends received by certain non-corporate US Holders. Accordingly, the availability of preferential tax rates for
dividends received by certain non-corporate US Holders, described below, could be affected by actions taken by parties to whom ADSs are pre-released. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">This
discussion assumes that the Company has not been, and will not become, a passive foreign investment company (&#147;<B>PFIC</B>&#148;) for US federal income tax purposes, as described below. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B>Special Dividend </B></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The Special Dividend paid on Existing Ordinary Shares
(including Existing Ordinary Shares represented by ADRs) will be treated as dividend income to the extent paid out of the Company&#146;s current or accumulated earnings and profits (as determined under US federal income tax&nbsp;principles). To the
extent the Special Dividend exceeds the Company&#146;s current and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">
accumulated earnings and profits (as determined under US federal income tax principles), it will be treated first as a tax-free return of capital to the extent of the US Holder&#146;s tax basis
in its Ordinary Shares or ADRs, and capital gain thereafter. The Company does not maintain records of earnings and profits in accordance with US federal income tax principles. Accordingly, it is expected that the Special Dividend will be reported as
a dividend for US federal income tax purposes. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">In the case of a US Holder of Ordinary Shares, the Special Dividend will be included in the US Holder&#146;s income
in a US dollar amount calculated by reference to the exchange rate in effect on the date the Special Dividend is received by such US Holder, regardless of whether the payment is in fact converted into US dollars at such time. If the Special Dividend
is converted into US dollars on the date of receipt, a US Holder generally should not be required to recognise foreign currency gain or loss in respect of the dividend income. A US Holder may have US-source foreign currency income or loss if the
Special Dividend is converted into US dollars after the date of its receipt. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The Special Dividend will not be eligible for the dividends-received deduction
generally allowed to US corporations under the Code. Subject to applicable limitations and the concerns expressed by the US Treasury discussed above, the Special Dividend paid to certain non-corporate US Holders may be taxable at preferential rates.
Non-corporate US Holders should consult their own independent tax advisers to determine whether they are subject to any special rules that would limit their ability to be taxed at these preferential rates. If the preferential rates apply and the sum
of the Special Dividend and any other dividends that have ex-dividend dates during the same period of 85 consecutive days in the aggregate exceeds 10&nbsp;per cent. of a US Holder&#146;s adjusted basis in its Ordinary Shares or ADRs (or, if the
preferential rates apply and the sum of the Special Dividend and any other dividends that have ex-dividend dates during the same period of 365 consecutive days in the aggregate exceeds 20&nbsp;per cent. of such basis), any loss on the sale or
exchange of such Ordinary Shares or ADRs would be treated as long-term capital loss to the extent of such dividend(s). </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B>Share Consolidation </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">A US Holder will not recognise a gain or loss in connection with the exchange of Existing Ordinary Shares (including Existing Ordinary Shares represented by ADRs) for
New Ordinary Shares (including New Ordinary Shares represented by ADRs) in the Share Consolidation, except to the extent of cash received in lieu of an entitlement to a fractional New Ordinary Share or ADR. The difference, as determined in US
dollars, between the US Holder&#146;s tax basis allocable to the fractional entitlement and the cash received upon the sale of such entitlement will be capital gain or loss which will be long-term capital gain or loss if the US Holder has held its
Existing Ordinary Shares or ADRs for more than one year. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">A US Holder&#146;s tax basis in its New Ordinary Shares or ADRs will equal its tax basis in its Existing
Ordinary Shares or ADRs less any tax basis that is allocable to any fractional entitlement to a New Ordinary Share or ADR. A US Holder&#146;s holding period for its New Ordinary Shares or ADRs will include its holding period for the Existing
Ordinary Shares or ADRs exchanged therefor. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B>Passive Foreign Investment Company Considerations </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">In general, a non-US company will be a PFIC for any taxable year in which (i)&nbsp;75&nbsp;per cent. or more of its gross income consists of passive income (such as
dividends, interest, rents and royalties, other than certain income derived in the active conduct of a trade or business); or (ii)&nbsp;50&nbsp;per cent. or more of the average quarterly value of its assets consists of assets that produce, or are
held for the production of, passive income. The Company believes that it was not a PFIC for its most recent taxable year and does not expect to become a PFIC in the foreseeable future. However, because PFIC status depends upon the composition of a
company&#146;s income and assets and the fair market value of its assets from time to time, and the Company has not reviewed its status as a PFIC for all prior taxable years, there can be no assurance that the Company will not be, or was not, a PFIC
for any taxable year. If the Company were treated as a PFIC for any taxable year during which a US Holder held Ordinary Shares or ADRs, certain adverse US federal income tax consequences could apply to such US Holder upon a disposition of Ordinary
Shares or ADRs or receipt of certain excess distributions, including the Special Dividend. US Holders are urged to consult their own independent tax advisers concerning the US federal income tax consequences to them if the Company has been or
becomes a PFIC for any taxable year. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B>Information Reporting and Backup Withholding </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Payment of the Special Dividend and sales proceeds made within the United States or through certain US-related financial intermediaries generally are subject to
information reporting and backup withholding unless the US Holder is a corporation or other exempt recipient or, in the case of backup withholding, the US Holder provides a correct taxpayer identification number and certifies that no loss of
exemption from backup withholding has occurred. The amount of any backup withholding from a payment to a US Holder will be allowed as a credit against the US Holder&#146;s US federal income tax liability and may entitle the US Holder to a refund,
provided that the required information is furnished to the Internal Revenue Service on a timely basis. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>9.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Dealings and settlement </B></TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Application will be made to the UK Listing Authority for the New Ordinary Shares
arising from the proposed consolidation of the Company&#146;s total issued share capital to be admitted to the premium segment of the Official List and to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the London
Stock Exchange&#146;s main market for listed securities. It is expected that dealings in the Existing Ordinary Shares will continue until 6.00pm on <B></B>Monday 30&nbsp;June<B></B> 2014 and that Admission of the New Ordinary Shares will become
effective and dealings for normal settlement will commence at 8.00am on <B></B>Tuesday 1 July<B></B> 2014. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">New share certificates in respect of the New Ordinary
Shares are expected to be posted at the risk of Shareholders by <B></B>Wednesday 9 July<B></B> 2014 to those Shareholders who hold their shares in Certificated Form. These will replace existing certificates which should then be destroyed. Pending
the receipt of new certificates, transfers of New Ordinary Shares held in Certificated Form will be certified against the Register. Shareholders who hold their entitlement to New Ordinary Shares in Uncertificated Form through CREST will have their
CREST accounts adjusted to reflect their entitlement to New Ordinary Shares on <B></B>Tuesday 1 July<B></B> 2014. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Holders of ADRs should refer to paragraph
<B></B>7<B> </B>of this Appendix I for more details. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>10.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Consent </B></TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B></B>Merrill Lynch International has given and not withdrawn its written consent to the inclusion in
this document of the references to its name in the form and context in which it appears.<B></B> </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>11.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Documents available for inspection </B></TD></TR></TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Copies of the following documents will be available for inspection during
normal business hours on any weekday (Saturdays, Sundays and public holidays excepted) at the offices of Freshfields Bruckhaus Deringer LLP of 65 Fleet Street, London EC4Y 1HS from the date of this document up to and including the date of the
General Meeting and for the duration of the General Meeting: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">this document; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">the consent letter referred to above. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Dated: <B></B>6 June<B></B> 2014 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL" ALIGN="center"><B><A NAME="tx728403_4"></A>APPENDIX II </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL" ALIGN="center"><B>DEFINITIONS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The following definitions apply throughout
this document and the accompanying Form of Proxy unless the context requires otherwise. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Admission </P></TD>
<TD>the admission of the New Ordinary Shares to the premium segment of the Official List and to trading on the London Stock Exchange&#146;s main market for listed securities </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">ADR </P></TD>
<TD>an American depositary receipt evidencing an ADS, issued by the ADR Depositary in accordance with the provisions of the ADR Deposit Agreement </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">ADR Deposit Agreement </P></TD>
<TD>the deposit agreement entered into between the Company, the ADR Depositary and ADR holders from time to time of ADRs issued under it </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">ADR Depositary </P></TD>
<TD>JPMorgan Chase Bank, N.A. in its capacity as the ADR depositary under the ADR Deposit Agreement </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">ADS </P></TD>
<TD>an American depositary share, representing one Ordinary Share in the Company </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Board </P></TD>
<TD>the board of Directors </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">in Certificated Form </P></TD>
<TD>not in Uncertificated Form </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Companies Act </P></TD>
<TD>the Companies Act 2006 (as amended) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Company or IHG </P></TD>
<TD>InterContinental Hotels Group PLC </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">CREST </P></TD>
<TD>the relevant system (as defined in the CREST Regulations) in respect of which CRESTCo Limited is the Operator (as defined in the CREST Regulations) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">CREST Manual </P></TD>
<TD>the rules governing the operation of CREST, consisting of the CREST Reference Manual, CREST International Manual, CREST Central Counterparty Service Manual, CREST Rules, Registrars Service Standards, Settlement Discipline Rules, CCSS Operations
Manual, Daily Timetable, CREST Application Procedure and CREST Glossary of Terms (all as defined in the CREST Glossary of Terms) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">CREST Regulations </P></TD>
<TD>the Uncertificated Securities Regulations 2001 (SI 2001 No. 3755) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Directors </P></TD>
<TD>the directors of the Company </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Dividend Reinvestment Plan </P></TD>
<TD>the dividend reinvestment plan operated by the Company </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Effective Date </P></TD>
<TD>the date on which entitlement to the Special Dividend and Share Consolidation becomes effective </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Euroclear </P></TD>
<TD>Euroclear UK &amp; Ireland Limited </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Existing Ordinary Shares </P></TD>
<TD>the existing ordinary shares of 14<SUP STYLE="font-size:85%; vertical-align:top">194</SUP>/<SUB STYLE="font-size:85%; vertical-align:bottom">329</SUB> pence each in the capital of the Company </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">FCA </P></TD>
<TD>the Financial Conduct Authority of the United Kingdom (or any successor body in respect thereof) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Form of Proxy </P></TD>
<TD>the form of proxy for use by holders of Existing Ordinary Shares accompanying this document in connection with the General Meeting </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">16 </P>


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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">fractional entitlement </P></TD>
<TD>an entitlement to a fractional New Ordinary Share or ADR </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">General Meeting </P></TD>
<TD>the General Meeting of the Company convened for 9.30am on <B></B>Monday 30 June<B></B> 2014 (and any adjournment thereof) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Letter of Transmittal </P></TD>
<TD>an exchange form in respect of the ADSs to be sent by the exchange agent appointed by the Company to ADR holders </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">London Stock Exchange </P></TD>
<TD>the London Stock Exchange plc </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">New Ordinary Shares </P></TD>
<TD>the proposed new ordinary shares of <B></B>15<SUP STYLE="vertical-align:top">&nbsp;265</SUP>&#8260;<SUB STYLE="vertical-align:bottom">329</SUB><B></B> pence each in the capital of the Company resulting from the Share Consolidation
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Official List </P></TD>
<TD>the official list maintained by the FCA </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Ordinary Shares </P></TD>
<TD>prior to the Share Consolidation, the Existing Ordinary Shares and, thereafter, the New Ordinary Shares </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">PRA </P></TD>
<TD>the Prudential Regulation Authority of the United Kingdom (or any successor body in respect thereof) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Record Date </P></TD>
<TD>6.00pm on <B></B>Monday 30 June<B></B> 2014 (or such other time and date as the Directors may determine) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Register </P></TD>
<TD>the register of members of the Company </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Registrar </P></TD>
<TD>Equiniti, or any other registrar appointed by the Company from time to time </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Resolutions </P></TD>
<TD>the resolutions set out in the notice convening the General Meeting which is set out at the end of this document </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">SEC </P></TD>
<TD>the United States Securities and Exchange Commission </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Share Buyback Programme </P></TD>
<TD>the share buyback programme announced by the Company on Tuesday 7 August 2012 pursuant to which the Company proposed to return US$500 million to Shareholders </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Share Consolidation </P></TD>
<TD>the proposed consolidation to be effected by consolidating every <B></B>13<B></B> Existing Ordinary Shares into <B></B>12<B></B> New Ordinary Shares </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Shareholders </P></TD>
<TD>holders of Ordinary Shares in the Company and, where the context so requires, holders of ADRs </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Share Plans </P></TD>
<TD>the InterContinental Hotels Group Long Term Incentive Plan, the InterContinental Hotels Group Annual Bonus Plan, the InterContinental Hotels Group Annual Performance Plan and the Britvic Share Incentive Plan </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">Special Dividend </P></TD>
<TD>the proposed special interim dividend of US$<B></B>2.93<B></B>, which converts to <B></B>174.9<B> </B>pence, per Existing Ordinary Share or per ADS (as applicable) </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">UK Listing Authority </P></TD>
<TD>the FCA acting in its capacity as the competent authority for the purposes of Part VI of the Financial Services and Markets Act 2000 (as amended) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">in Uncertificated Form </P></TD>
<TD>recorded on the Register as being held in uncertificated form in CREST and title to which, by virtue of the CREST Regulations, may be transferred by means of CREST </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">United Kingdom or UK </P></TD>
<TD>the United Kingdom of Great Britain and Northern Ireland </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">United States or US </P></TD>
<TD>the United States of America, its territories and possessions, any State of the United States of America and the District of Columbia </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE="margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10.5pt; font-family:ARIAL">US Securities Exchange Act </P></TD>
<TD>the US Securities Exchange Act of 1934 (as amended) </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">The singular shall include the plural and <I>vice versa</I>, and words importing the masculine gender shall include the
feminine or neutral gender. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Terms defined in the CREST Manual shall, unless the context otherwise requires, bear the same meanings where used in this document.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">References to &#147;&pound;&#148;, &#147;sterling&#148;, &#147;pounds sterling&#148;, &#147;penny&#148; and &#147;pence&#148; are to the lawful currency of the
United Kingdom. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">References to &#147;$&#148;, &#147;US dollars&#148; and &#147;US$&#148; are to the lawful currency of the United States. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL" ALIGN="center"><B><A NAME="tx728403_5"></A>INTERCONTINENTAL HOTELS GROUP PLC </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL" ALIGN="center"><B>NOTICE OF GENERAL MEETING </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL">Notice is hereby given that a
General Meeting of InterContinental Hotels Group PLC (the &#147;<B>Company</B>&#148;) will be held at 9.30am on <B></B>Monday 30 June<B></B> 2014 at the Crowne Plaza London Kensington, 100 Cromwell Road, London SW7 4ER for the purpose of considering
and, if thought fit, passing the following Resolutions, the first of which will be proposed as an ordinary resolution and the second as a special resolution: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">That, subject to and conditional upon admission of the New Ordinary Shares (as defined below) to the premium segment of the Official List and to trading on the London Stock Exchange&#146;s main market for listed
securities becoming effective, every <B></B>13<B></B> ordinary shares of 14<SUP STYLE="vertical-align:top">&nbsp;194</SUP>&#8260;<SUB STYLE="vertical-align:bottom">329</SUB> pence each in the capital of the Company in issue and outstanding or held
in treasury as at 6.00pm on <B></B>Monday 30 June<B> </B>2014 (or such other time and date as the directors of the Company (the &#147;<B>Directors</B>&#148;) may determine) be consolidated into <B></B>12<B> </B>ordinary shares of <B></B>15<SUP
STYLE="vertical-align:top">&nbsp;265</SUP>&#8260;<SUB STYLE="vertical-align:bottom">329</SUB><B></B> pence each (each a &#147;<B>New Ordinary Share</B>&#148;), provided that, where such consolidation results in any member being entitled to a
fraction of a New Ordinary Share, such fraction shall, so far as possible, be aggregated with the fractions of a New Ordinary Share to which other members of the Company may be entitled and the Directors be and are hereby authorised to sell (or
appoint any other person to sell), on behalf of the relevant members, all the New Ordinary Shares representing such fractions at the best price reasonably obtainable to any person, and to pay the proceeds of sale (net of expenses) in due proportion
to the relevant members entitled thereto (save that any fraction of a penny which would otherwise be payable shall be rounded up or down in accordance with the usual practice of the registrar of the Company) and that any Director (or any person
appointed by the Directors) shall be and is hereby authorised to execute an instrument of transfer in respect of such shares on behalf of the relevant members and to do all acts and things the Directors consider necessary or expedient to effect the
transfer of such shares to, or in accordance with the directions of, any buyer of any such shares. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top">That, subject to and conditional upon Resolution 1 above being passed and becoming unconditional, the Company shall be and is hereby generally and unconditionally authorised to make market purchases (as defined in
Section&nbsp;693 of the Companies Act 2006 (the &#147;<B>Companies Act</B>&#148;)) for the purpose of Section&nbsp;701 of the Companies Act of New Ordinary Shares (as defined in Resolution 1) on such terms and in such manner as the Directors think
fit, provided that: </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">the maximum aggregate number of New Ordinary Shares that may be purchased under this authority is <B></B>23,611,725<B></B>; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">the minimum price which may be paid for each New Ordinary Share is <B></B>15<B></B><SUP STYLE="vertical-align:top">&nbsp;265</SUP>&#8260;<SUB STYLE="vertical-align:bottom">329</SUB><B></B> per share; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">the maximum price (exclusive of all expenses) which may be paid for each New Ordinary Share is an amount equal to the higher of (i)&nbsp;105&nbsp;per cent. of the average of the middle market quotations for a New
Ordinary Share as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such share is contracted to be purchased and (ii)&nbsp;that stipulated by Article 5(1) of the Buy-Back and
Stabilisation Regulations 2003; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">this authority will expire at the conclusion of the next annual general meeting of the Company in 2015 or on <B></B>1 July<B></B> 2015, whichever is earlier (except in relation to the purchase of New Ordinary Shares the
contract for which was concluded before such date and which is executed wholly or partly after such date) unless such authority is renewed prior to such time. </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>


<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top">By order of the Board</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">Registered in England, Number: 5134420</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top">George Turner</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">Registered Office:</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10pt">
<TD VALIGN="top">Company Secretary</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">Broadwater Park</TD></TR>
<TR STYLE="font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top"><B></B>6 June<B></B> 2014</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">Denham, Buckinghamshire UB9 5HR</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL"><B>Notes: </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">A member is entitled to appoint another person, who need not be a member, as his proxy to exercise all or any of his rights to attend, speak and, upon a poll, vote at this General Meeting or any adjournment thereof. A
member may appoint more than one proxy in relation to the General Meeting, provided that each proxy is appointed to exercise the rights attached to a different share or shares held by that member. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top">A Form of Proxy is enclosed. To be valid, the Form of Proxy must be received by the Company&#146;s registrar, Equiniti, by no later than 9.30am on <B></B>Thursday 26 June<B></B> 2014 or, if the General Meeting is
adjourned, 48&nbsp;hours (excluding any UK non-working days) before the time of the adjourned General Meeting. The appointment of a proxy will not prevent a member from subsequently attending, speaking and voting at the General Meeting in person.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top">If you wish, you may register the appointment of a proxy for this General Meeting electronically, by logging on to the registrar&#146;s website, www.sharevote.co.uk, where details of this procedure are shown. The Voting
ID, Task ID and Shareholder Reference Number shown on your Form of Proxy will be required to complete the procedure. Electronic Proxy Appointment will not be valid if received after 9.30am on <B></B>Thursday 26 June<B></B> 2014 or, if the General
Meeting is adjourned, 48 hours (excluding any UK non-working days) before the time of the adjourned General Meeting, and will not be accepted if found to contain a computer virus. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top">CREST members who wish to appoint a proxy or proxies through the CREST electronic proxy appointment service may do so for the General Meeting to be held on <B></B>Monday 30 June<B> </B>2014 and any adjournment(s)
thereof by using the procedures described in the CREST Manual available on the Euroclear website, www.euroclear.com. CREST Personal Members or other CREST sponsored members, and those CREST members who have appointed (a) voting service provider(s),
should refer to their CREST sponsor or voting service provider(s), who will be able to take the appropriate action on their behalf. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:9pt; font-family:ARIAL">In
order to be valid, the appropriate CREST Proxy Instruction must be transmitted so as to be received by the Company&#146;s agent (CREST Participant ID RA19) by 9.30am on <B></B>Thursday 26 June<B></B> 2014 or if the General Meeting is adjourned, 48
hours (excluding any UK non-working days) before the time of the adjourned General Meeting. For this purpose, the time of receipt will be taken to be the time (as determined by the timestamp applied to the message by the CREST Applications Host)
from which the issuer&#146;s agent is able to retrieve the message by enquiry to CREST in the manner prescribed by CREST. After this time any change of instructions to proxies appointed through CREST should be communicated to the appointee through
other means. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:9pt; font-family:ARIAL">CREST members and, where applicable, their CREST sponsors or voting service providers, should note that Euroclear does not make
available special procedures in CREST for any particular messages. Normal system timings and limitations will therefore apply in relation to the input of CREST Proxy Instructions. It is the responsibility of the CREST member concerned to take (or,
if the CREST member is a CREST personal member or sponsored member or has appointed (a) voting service provider(s), to procure that his CREST sponsor or voting service provider(s) take(s)) such action as shall be necessary to ensure that a message
is transmitted by means of the CREST system by any particular time. In this connection, CREST members and, where applicable, their CREST sponsors or voting service providers are referred, in particular, to those sections of the CREST Manual
concerning practical limitations of the CREST system and timings. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:9pt; font-family:ARIAL">The Company may treat as invalid a CREST Proxy Instruction in the circumstances set
out in Regulation 35(5)(a) of the Uncertificated Securities Regulations 2001. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top">Any corporation which is a member can appoint one or more corporate representatives who may exercise on its behalf all of its powers as a member provided that they do not do so in relation to the same shares.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.</TD>
<TD ALIGN="left" VALIGN="top">The right to appoint a proxy does not apply to persons whose shares are held on their behalf by another person and who have been nominated to receive communications from the Company in accordance with Section&nbsp;146
of the Companies Act (&#147;<B>nominated persons</B>&#148;). Nominated persons may have a right under an agreement with the member who holds the shares on their behalf to be appointed (or to have someone else appointed) as a proxy for the General
Meeting. If nominated persons do not have such right, or do not wish to exercise it, they may have a right under such an agreement to give instructions to the person holding the shares as to the exercise of voting rights. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">7.</TD>
<TD ALIGN="left" VALIGN="top">Holders of Ordinary Shares are entitled to attend and vote at General Meetings of the Company. On a vote by show of hands, every member who is present has one vote and every proxy present who has been duly appointed by
a member entitled to vote has one vote, unless the proxy has been appointed by more than one member and has been instructed by one or more members to vote for the Resolution and by one or more members to vote against the Resolution, in which case
the proxy has one vote for and one vote against. On a poll vote, every member who is present in person or by proxy has one vote for every Ordinary Share of which he / she is the holder. </TD></TR></TABLE>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">20 </P>


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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.</TD>
<TD ALIGN="left" VALIGN="top">The Company, pursuant to the Uncertificated Securities Regulations 2001, specifies that only those members on the Register of Members as at 6.00pm (London time) on <B></B>Thursday 26 June<B></B> 2014, or if the General
Meeting is adjourned, on the Register of Members at 6.00pm (London time) on the date which is two UK working days prior to the date of any adjourned General Meeting, shall be entitled to attend and vote at the General Meeting in respect of the
number of shares registered in their names at that time. Changes to entries on the register of members after the relevant above-mentioned deadline shall be disregarded in determining the rights of any person to attend or vote at the General Meeting
or any adjourned General Meeting (as the case may be). </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.</TD>
<TD ALIGN="left" VALIGN="top">Under Section&nbsp;319A of the Companies Act, any member attending the General Meeting has the right to ask questions in relation to the business of the General Meeting. The Company must cause to be answered any such
question relating to the business to be dealt with at the General Meeting but no such answer need be given if (a)&nbsp;to do so would interfere unduly with the preparation for the General Meeting or involve the disclosure of confidential
information; (b)&nbsp;the answer has already been given on a website in the form of an answer to a question; or (c)&nbsp;it is undesirable in the interests of the Company or the good order of the General Meeting that the question be answered.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.</TD>
<TD ALIGN="left" VALIGN="top">Members may not use any electronic address provided in either this Notice of General Meeting or any related documents (including the Form of Proxy) to communicate with the Company for any purposes other than those
expressly stated. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.</TD>
<TD ALIGN="left" VALIGN="top">A copy of this Notice of General Meeting and other information required by Section&nbsp;311A of the Companies Act can be found at the Company&#146;s website, www.ihgplc.com/investors, under financial library.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.</TD>
<TD ALIGN="left" VALIGN="top">Certain items will not be permitted in the General Meeting. These include cameras, recording equipment, items of any nature with potential to cause disorder and such other items as the Chairman of the General Meeting
may specify. We reserve the right to confiscate these items for the duration of the General Meeting if they are used to record or otherwise disrupt the General Meeting. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">21 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>InterContinental Hotels Group PLC (&#147;IHG&#148; or the &#147;Company&#148;) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Special Dividend and Share Consolidation: Publication of Circular </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On Friday, 2&nbsp;May 2014, the Board of IHG announced its intention to return US$750 million to Shareholders via a Special Dividend with a Share
Consolidation. The Board today announces it is publishing a circular (the &#147;Circular&#148;) setting out full details of the proposed Special Dividend and associated Share Consolidation and convening a General Meeting to be held on Monday,
30&nbsp;June 2014 at 9.30am at the Crowne Plaza London Kensington, 100 Cromwell Road, London, SW7 4ER. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Special dividend </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The proposed amount of the Special Dividend is US$2.93 (174.9 pence) per Existing Ordinary Share. The Board is proposing to pay the Special Dividend to
Shareholders on the Register at 6.00pm on Monday, 30&nbsp;June 2014 in pounds sterling and to ADR holders on the record as at 4.00pm (New York time) on Monday, 30&nbsp;June 2014 (being the close of business on the day before the ADR effective date)
in US dollars, in each case as an interim dividend in respect of the financial year ending 31&nbsp;December 2014. The Special Dividend is expected to be paid to Shareholders and to holders of ADRs on Monday, 14&nbsp;July 2014. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Share consolidation </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">It is proposed that the payment of
the Special Dividend be accompanied by a consolidation of the Company&#146;s ordinary share capital. The Share Consolidation will replace every 13 Existing Ordinary Shares with 12 New Ordinary Shares. Upon the Share Consolidation, the nominal value
of the Ordinary Shares will change from 14 <SUP STYLE="font-size:85%; vertical-align:top">194</SUP>/<SUB STYLE="font-size:85%; vertical-align:bottom">329</SUB> pence per Ordinary Share to 15 <SUP STYLE="font-size:85%; vertical-align:top">265</SUP>/<SUB
STYLE="font-size:85%; vertical-align:bottom">329</SUB> pence per Ordinary Share. Fractional entitlements arising from the Share Consolidation will be aggregated and sold in the market on behalf of the relevant Shareholders. The proceeds of the sale
are expected to be sent to Shareholders on Wednesday, 9&nbsp;July 2014. The value of any Shareholder&#146;s fractional entitlement will not exceed the value of one New Ordinary Share. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As at the close of business on Wednesday, 4&nbsp;June 2014 (being the last practicable date prior to the posting of the Circular) when the closing mid-market
price per Existing Ordinary Share was 2,309 pence and there were 255,793,702 Existing Ordinary Shares in issue (excluding treasury shares), the total amount of the Special Dividend was equivalent to 7.6&nbsp;per cent. of the market capitalisation of
the Company. The effect of the Share Consolidation will be to reduce the number of Ordinary Shares in issue by approximately the same percentage. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As all
ordinary shareholdings in the Company will be consolidated, Shareholders&#146; percentage holdings in the issued share capital of the Company will (save in respect of fractional entitlements) remain unchanged. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Authority to purchase own shares </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board will also
submit to its Shareholders at the General Meeting a proposal for a renewed authority to enable the Company to make market purchases of its New Ordinary Shares following the Share Consolidation. Details of this proposal are set out in the Circular.
</P>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Expected timetable </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If any of the below times and / or dates change, the revised times and / or dates will be notified to Shareholders by announcement through a Regulatory
Information Service. Unless otherwise stated, all references to times given below are to London time. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="63%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="34%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><B>2014</B></TD></TR>


<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Latest time and date for receipt of Forms of Proxy</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="right">9.30am on Thursday, 26 June</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Latest time and date for receipt by the ADR Depositary of completed Voting Instruction cards from holders of ADRs</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="right">12.00pm (New York time) on Friday, 27 June</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">General Meeting</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="right">9.30am on Monday, 30 June</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Record date for participation in the Dividend Reinvestment Plan for the Special Dividend</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="right">5.00pm on Monday, 30 June</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Shareholder record date for the Special Dividend and for the Share Consolidation</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="right">6.00pm on Monday, 30 June</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">ADR holder record date for the Special Dividend and for the Share Consolidation</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="right">4.00pm (New York time) on Monday, 30 June</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Commencement of dealings in New Ordinary Shares</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="right">8.00am on Tuesday, 1 July</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Ordinary Shares (but not ADSs) marked ex-Special Dividend</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="right">Tuesday, 1 July</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">CREST accounts credited with New Ordinary Shares</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="right">Tuesday, 1 July</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">ADR effective date for the Special Dividend and for the Share Consolidation</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="right">9.30am (New York time) on Tuesday, 1 July</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Commencement of dealings in new ADSs</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="right">9.30am&nbsp;(New&nbsp;York&nbsp;time)&nbsp;on&nbsp;Tuesday,&nbsp;1 July</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Despatch of cheques for fractional entitlements and certificates for New Ordinary Shares; CREST accounts credited with the value of fractional entitlements</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="right">Wednesday, 9 July</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Payment of the Special Dividend to Shareholders and to holders of ADRs</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="right">Monday, 14 July</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Purchase of New Ordinary Shares for participants in the Dividend Reinvestment Plan</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="right">Monday, 14 July</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Other information </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
Circular will be posted or otherwise made available to Shareholders today. The Circular will be available on the IHG website at <U>www.ihgplc.com/investors</U> under financial library, and copies of both the Circular and the form of proxy for use in
connection with the General Meeting will shortly be available for inspection at <U>www.hemscott.com/nsm.do</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The &pound;:US$ exchange rate information
used above is &pound;0.597:US$1. This rate has been determined using the WM / Reuters closing mid-point spot rate (to three decimal places) as at 4.00pm on Wednesday 4&nbsp;June 2014. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All definitions used in the Circular to Shareholders dated 6&nbsp;June 2014 have the same meaning when used in this announcement. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>For further information </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Investor Relations (Catherine Dolton, David Kellett, Isabel Green):</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">+44 (0)1895 512176</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">+44 (0)7808 098724</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Media Relations (Yasmin Diamond, Zoe Bird):</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">+44 (0)1895 512008</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">+44 (0)7736 746167</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Merrill Lynch International, which is authorised by the PRA and regulated in the United Kingdom by the FCA and the PRA, is
acting as a corporate broker to InterContinental Hotels Group PLC and no-one else in connection with the Special Dividend and Share Consolidation and will not be responsible to anyone other than InterContinental Hotels Group PLC for providing the
protections afforded to clients of Merrill Lynch International nor for providing advice in connection with the proposed Special Dividend and Share Consolidation or the contents of this document or any other matter referred to herein. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Notes for editors </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IHG (InterContinental Hotels Group)
[LON:IHG, NYSE:IHG (ADRs)] is a global organisation with a broad portfolio of nine hotel brands, including InterContinental&reg; Hotels&nbsp;&amp; Resorts, Hotel Indigo&reg;, Crowne Plaza&reg; Hotels&nbsp;&amp; Resorts, Holiday Inn&reg;
Hotels&nbsp;&amp; Resorts, Holiday Inn Express&reg;, Staybridge Suites&reg;, Candlewood Suites&reg;, EVEN&#153; Hotels and HUALUXE&reg; Hotels and Resorts. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IHG manages IHG&reg; Rewards Club, the world&#146;s first and largest hotel loyalty programme with nearly 79&nbsp;million members worldwide. The programme was
relaunched in July 2013, offering enhanced benefits for members including free internet across all hotels, globally. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IHG franchises, leases, manages or
owns over 4,700 hotels and 688,000 guest rooms in nearly 100 countries and territories, with more than 1,100 hotels in its development pipeline. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">InterContinental Hotels Group PLC is the Group&#146;s holding company and is incorporated in Great Britain and registered in England and Wales. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Visit www.ihg.com for hotel information and reservations and www.ihgrewardsclub.com for more on IHG Rewards Club. For our latest news, visit:
www.ihg.com/media, www.twitter.com/ihg, www.facebook.com/ihg or www.youtube.com/ihgplc. </P>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
