Hyatt Hotels — Feb 13, 2025 release

The Company expects its asset-light earnings mix to exceed 90% on a pro forma basis in 2027. At closing, the Company expects to fund 100% of the acquisition with new debt financing, and, following the close of the transaction, the Company expects to pay down over 80% of that financing with anticipated proceeds from the aforementioned asset sales. 2 Balance Sheet and Liquidity As of December 31, 2024, the Company reported the following: • Total debt of $3,782 million. • Pro rata share of unconsolidated hospitality venture debt of $370 million, substantially all of which is non-recourse to Hyatt and a portion of which Hyatt guarantees pursuant to separate agreements. • Total liquidity of app roximatel y $2.9 billion with $1,383 million of cash and cash equivalents and short-term investments, and borrowing availability of $1,497 million under Hyatt's revolving credit facility, net of letters of credit outstanding. On November 20, 2024, the Company issued and sold $150 million of senior notes due 2029 at an issue price of 99.693%, forming a single series of an aggregate $600 million of 5.250% senior notes due 2029, of which $450 million principal amount was issued on June 17, 2024, and $450 million of 5.375% senior notes due 2031 at an issue price of 99.745%. In the fourth quarter, the Company received approximately $594 million of net proceeds, after deducting underwriting discounts and other offering expenses, and intends to use the net proceeds