PRESS RELEASE Document Investor Contact 7930 Jones Branch Drive Charlie Ruehr McLean, VA 22102 +1 703 883 1000 ir.hilton.com Media Contact Kent Landers +1 703 883 3246 Hilton Reports Second Quarter Results MCLEAN, VA (July 28, 2026) - Hilton Worldwide Holdings Inc. ("Hilton," "the Company," "we," "us" or "our") (NYSE: HLT) today reported its second quarter 2026 results. Highlights include: • Diluted EPS was $2.10 for the second quarter, and diluted EPS, adjusted for special items, was $2.29 • Net income was $482 million for the second quarter • Adjusted EBITDA was $1,054 million for the second quarter • System-wide comparable RevPAR increased 3.9 percent, on a currency neutral basis, for the second quarter compared to the same period in 2025 • Approved 42,900 new rooms for development during the second quarter, bringing our development pipeline to 541,300 rooms as of June 30, 2026, representing growth of 6 percent from June 30, 2025 • Added 24,100 rooms to our system, resulting in 21,600 net additional rooms for the second quarter, contributing to net unit growth of 6.1 percent from June 30, 2025 • Announced the launch of a new lifestyle brand, Undergraduate by Hilton, an upper‑midscale offering designed to expand Hilton’s presence in college and university markets, in June 2026 • Issued $1.0 billion aggregate principal amount of 5.500% Senior Notes due 2031 in May 2026 • Repurchased 2.9 million shares of Hilton common stock during the second quarter, bringing total capital return, including dividends, to $966 million for the quarter and $2,034 million year to date through July • Full year 2026 system-wide RevPAR is projected to increase between 3.0 percent and 3.5 percent on a comparable and currency neutral basis compared to 2025; full year net income is projected to be between $1,883 million and $1,911 million; full year Adjusted EBITDA is projected to be between $4,040 million and $4,080 million • Full year 2026 capital return is projected to be approximately $3.5 billion 1 Overview Christopher J. Nassetta, President & Chief Executive Officer of Hilton, said, "We delivered strong top and bottom-line results for the second quarter, driven by the continuation of strengthening demand trends and broad-based momentum across our system, which we expect to continue for the remainder of the year and into 2027. Our disciplined development strategy continues to drive strong results, with openings and approvals both increasing 50 percent sequentially from the first quarter and our pipeline ending the quarter at a record level. We remain confident in our ability to deliver net unit growth of 6.0% to 7.0% in 2026 and beyond.” For the three months ended June 30, 2026, system-wide comparable RevPAR increased 3.9 percent compared to the same period in 2025 due to an increase in both occupancy and ADR. Management and franchise fee revenues increased 6.4 percent compared to the same period in 2025. For the six months ended June 30, 2026, system-wide comparable RevPAR increased 3.9 percent compared to the same period in 2025 due to an increase in both occupancy and ADR. Management and franchise fee revenues increased 8.3 percent compared to the same period in 2025. For the three months ended June 30, 2026, diluted EPS was $2.10 and diluted EPS, adjusted for special items, was $2.29, compared to $1.84 and $2.20, respectively, for the three months ended June 30, 2025. Net income and Adjusted EBITDA were $482 million and $1,054 million, respectively, for the three months ended June 30, 2026, compared to $442 million and $1,008 million, respectively, for the three months ended June 30, 2025. For the six months ended June 30, 2026, diluted EPS was $3.76 and diluted EPS, adjusted for special items, was $4.30, compared to $3.07 and $3.92, respectively, for the six months ended June 30, 2025. Net income and Adjusted EBITDA were $865 million and $1,955 million, respectively for the six months ended June 30, 2026, compared to $742 million and $1,803 million, respectively, for the six months ended June 30, 2025. Kevin J. Jacobs, Executive Vice President & Chief Financial Officer, said, “Our second quarter net income and Adjusted EBITDA benefited from better-than-expected RevPAR growth and $17 million of non-RevPAR items that had previously been expected to occur in the second half of the year.” Development In the second quarter of 2026, we opened 207 hotels, totaling 24,100 rooms, resulting in 21,600 net room additions. Room openings were up 50 percent from the first quarter of 2026, with notable openings including the Conrad Athens The Ilisian, marking the debut of the luxury brand in Greece and the Slohh by Roach Bengaluru, Curio Collection by Hilton, marking the debut of the lifestyle brand in India. We also opened the first three Apartment Collection by Hilton properties since the brand's launch earlier this year in Salt Lake City, Austin and Atlanta. During the quarter, we signed the Waldorf Astoria Miami Beach and the Umfolozi River Hotel, Tapestry Collection by Hilton, in South Africa, further expanding the hotels in our luxury and lifestyle brand portfolios. We added 42,900 rooms to the development pipeline during the second quarter, and, as of June 30, 2026, our development pipeline totaled 3,853 hotels representing 541,300 rooms throughout 132 countries and territories, including 26 countries and territories where we had no existing hotels. Additionally, of the rooms in the development pipeline, almost half were under construction and more than half were located outside of the U.S. Balance Sheet and Liquidity As of June 30, 2026, we had $13.4 billion of debt outstanding, excluding the deduction for unamortized deferred financing costs and discount, with a weighted average interest rate of 5.03 percent. Excluding all finance lease liabilities, we had $13.1 billion of debt outstanding with a weighted average interest rate of 5.04 percent and no material indebtedness that matures until April 2029, other than $600 million of outstanding Senior Notes due April 2027. We believe that we have sufficient sources of liquidity and access to debt financing to address the Senior Notes due April 2027 at or prior to their maturity date as well as all indebtedness that becomes due thereafter. In May 2026, we issued $1.0 billion aggregate principal amount of 5.500% Senior Notes due 2031 and used a portion of the net proceeds to fully repay $450 million of outstanding borrowings under our senior secured revolving credit facility (the "Revolving Credit Facility") from earlier during the period. As of June 30, 2026, no borrowings were outstanding under our Revolving Credit Facility, which had an available borrowing capacity of $1,894 million after considering $106 million of letters of credit outstanding. Total cash and cash equivalents were $1,064 million as of June 30, 2026, including $55 million of restricted cash and cash equivalents. In June 2026, we paid a quarterly cash dividend of $0.15 per share of common stock, for a total payment of $34 million, bringing total dividend payments for the year to $69 million. In July 2026, our board of directors authorized a regular quarterly cash dividend of $0.15 per share of common stock to be paid on September 30, 2026 to holders of record of our common stock as of the close of business on August 21, 2026. 2 During the three months ended June 30, 2026, we repurchased 2.9 million shares of Hilton common stock at an average price per share of $326.99, for a total of $932 million. During the six months ended June 30, 2026 we repurchased 5.6 million shares of Hilton common stock at an average price per share of $314.62, returning $1,826 million of capital to shareholders, including dividends. Total capital return to shareholders, including dividends year-to-date through July, was $2,034 million. The number of shares outstanding as of July 23, 2026 was 225.1 million. Outlook Share-based metrics in Hilton's outlook include actual share repurchases through the second quarter but do not include the effects of potential share repurchases thereafter. Full Year 2026 • System-wide comparable RevPAR, on a currency neutral basis, is projected to increase between 3.0 percent and 3.5 percent compared to 2025. ◦ Outlook reflects expected third quarter benefits from the World Cup and favorable calendar shifts, while the fourth quarter is expected to be affected by unfavorable calendar shifts and midterm elections. • Diluted EPS is projected to be between $8.22 and $8.35. • Diluted EPS, adjusted for special items, is projected to be between $8.89 and $9.01. • Net income is projected to be between $1,883 million and $1,911 million. • Adjusted EBITDA is projected to be between $4,040 million and $4,080 million. • Contract acquisition costs and capital expenditures, excluding amounts reimbursed by third parties, are projected to be approximately $300 million. • Capital return is projected to be approximately $3.5 billion. • General and administrative expenses are projected to be approximately $400 million. • Net unit growth is projected to be between 6.0 percent and 7.0 percent, with the second half of 2026 expected to outperform the first half of the year. Third Quarter 2026 • System-wide comparable RevPAR, on a currency neutral basis, is projected to increase approximately 4.0 percent compared to the third quarter of 2025. • Diluted EPS is projected to be between $2.20 and $2.26. • Diluted EPS, adjusted for special items, is projected to be between $2.28 and $2.34. • Net income is projected to be between $502 million and $516 million. • Adjusted EBITDA is projected to be between $1,035 million and $1,055 million. 3 Conference Call Hilton will host a conference call to discuss second quarter of 2026 results on July 28, 2026 at 9:00 a.m. Eastern Time. Participants may listen to the live webcast by logging on to the Hilton Investor Relations website at https://ir.hilton.com/events-and-presentations . A replay and transcript of the webcast will be available within 24 hours after the live event at https://ir.hilton.com/financial-reporting . Alternatively, participants may listen to the live call by dialing 1-888-317-6003 in the United States ("U.S.") or 1-412-317-6061 internationally using the conference ID 4006802. Participants are encouraged to dial into the call or link to the webcast at least fifteen minutes prior to the scheduled start time. A telephone replay will be available for seven days following the call. To access the telephone replay, dial 1-855-669-9658 in the U.S. or 1-412-317-0088 internationally using the conference ID 6596218. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, future financial results, liquidity and capital resources and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "forecasts," "potential," "continues," "may," "will," "should," "could," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties including, among others, risks inherent to the hospitality industry; macroeconomic factors beyond our control, such as inflation, changes in interest rates, challenges due to labor shortages or disputes and supply chain disruptions; the loss of key senior management personnel; competition for hotel guests and management and franchise contracts; risks related to doing business with third-party hotel owners; performance of our information technology systems; growth of reservation channels outside of our system; risks of doing business outside of the U.S.; risks associated with geopolitical conflicts, including Iran; uncertainty resulting from U.S. and global political trends, tariffs and other policies, including potential barriers to travel, trade and immigration and other geopolitical events; and our indebtedness. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found under the section entitled "Part I—Item 1A. Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which is filed with the Securities and Exchange Commission (the "SEC") and is accessible on the SEC's website at www.sec.gov . Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our filings with the SEC. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. Definitions See the "Definitions" section for the definition of certain terms used within this press release, including within the schedules. Non-GAAP Financial Measures We refer to certain financial measures that are not recognized under U.S. generally accepted accounting principles ("GAAP") in this press release, including: net income, adjusted for special items; diluted EPS, adjusted for special items; Adjusted EBITDA; Adjusted EBITDA margin; net debt; and net debt to Adjusted EBITDA ratio. See the schedules to this press release, including the "Definitions" section, for additional information and reconciliations of such non-GAAP financial measures, as well as the most comparable GAAP financial measures. About Hilton Hilton (NYSE: HLT) is a leading global hospitality company with a portfolio of 28 world-class brands comprising more than 9,400 properties and nearly 1.4 million rooms, in 144 countries and territories. Dedicated to fulfilling its founding vision to fill the earth with the light and warmth of hospitality, Hilton has welcomed over 4 billion guests in its more than 100-year history. Named as the No. 1 World's Best Workplace by Great Place to Work and Fortune, Hilton aims to create the best culture for its 500,000 team members around the world. Hilton has introduced industry-leading technology enhancements to improve the guest experience, including Digital Key Share, automated complimentary room upgrades and the ability to book confirmed connecting rooms. Through the award-winning guest loyalty program Hilton Honors, the 260 million Hilton Honors members who book directly with Hilton can earn Points for hotel stays and experiences money can't buy. With the free Hilton Honors app, guests can book their stay, select their room, check in, unlock their door with a Digital Key and check out, all from their smartphone. Visit stories.hilton.com for more information, and connect with Hilton on facebook.com/hiltonnewsroom , x.com/hiltonnewsroom , linkedin.com/company/hilton , instagram.com/hiltonnewsroom and youtube.com/@hilton . 4 HILTON WORLDWIDE HOLDINGS INC. EARNINGS RELEASE SCHEDULES TABLE OF CONTENTS Page Condensed Consolidated Statements of Operations 6 Comparable and Currency Neutral System-Wide Hotel Operating Statistics 7 Property Summary 9 Capital Expenditures and Contract Acquisition Costs 10 Reconciliations of Non-GAAP Financial Measures 11 Definitions 16 5 HILTON WORLDWIDE HOLDINGS INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share amounts) (unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Revenues Franchise and licensing fees $ 808 $ 745 $ 1,504 $ 1,370 Base and other management fees 99 97 194 185 Incentive management fees 69 75 145 147 Ownership 311 332 560 566 Other revenues 72 77 138 123 1,359 1,326 2,541 2,391 Cost reimbursement revenues 1,982 1,811 3,737 3,441 Total revenues 3,341 3,137 6,278 5,832 Expenses Ownership 266 286 501 525 Depreciation and amortization 49 43 99 84 General and administrative 114 109 217 203 Other expenses 46 26 68 52 475 464 885 864 Reimbursed expenses 2,008 1,895 3,857 3,654 Total expenses 2,483 2,359 4,742 4,518 Operating income 858 778 1,536 1,314 Interest expense (183) (151) (345) (296) Gain (loss) on foreign currency transactions (7) (1) (12) 1 Other non-operating income, net 12 3 19 20 Income before income taxes 680 629 1,198 1,039 Income tax expense (198) (187) (333) (297) Net income 482 442 865 742 Net loss (income) attributable to redeemable and nonredeemable noncontrolling interests — (2) 2 (2) Net income attributable to Hilton stockholders $ 482 $ 440 $ 867 $ 740 Weighted average shares outstanding: Basic 227 237 228 239 Diluted 229 239 230 241 Earnings per share: Basic $ 2.12 $ 1.85 $ 3.80 $ 3.10 Diluted $ 2.10 $ 1.84 $ 3.76 $ 3.07 Cash dividends declared per share $ 0.15 $ 0.15 $ 0.30 $ 0.30 6 HILTON WORLDWIDE HOLDINGS INC. COMPARABLE AND CURRENCY NEUTRAL SYSTEM-WIDE HOTEL OPERATING STATISTICS BY REGION, BRAND AND SEGMENT (unaudited) Three Months Ended June 30, Occupancy ADR RevPAR 2026 vs. 2025 2026 vs. 2025 2026 vs. 2025 System-wide 74.9 % 1.0 % pts. $ 166.97 2.5 % $ 125.02 3.9 % Region U.S. 77.3 % 1.6 % pts. $ 180.16 3.2 % $ 139.28 5.4 % Americas (excluding U.S.) 68.6 0.4 157.79 3.9 108.32 4.6 Europe 78.3 1.6 182.96 2.2 143.28 4.3 Middle East & Africa 53.0 (16.1) 176.72 (8.1) 93.65 (29.5) Asia Pacific 68.6 1.0 97.42 (0.3) 66.80 1.2 Brand (1) Waldorf Astoria Hotels & Resorts 63.2 % (2.8) % pts. $ 488.62 3.2 % $ 308.75 (1.1) % Conrad Hotels & Resorts 71.5 (2.1) 291.96 3.0 208.61 — LXR Hotels & Resorts 61.4 (1.0) 487.73 7.5 299.43 5.8 Canopy by Hilton 76.3 (0.1) 246.56 3.1 188.13 2.9 Hilton Hotels & Resorts 72.8 0.7 200.21 1.9 145.67 2.9 Curio Collection by Hilton 74.2 1.6 255.32 2.4 189.55 4.6 Graduate by Hilton 70.2 2.6 240.78 4.8 169.03 8.8 DoubleTree by Hilton 72.1 0.6 155.22 2.6 111.84 3.5 Tapestry Collection by Hilton 72.9 2.6 202.37 2.9 147.62 6.6 Embassy Suites by Hilton 79.1 1.4 196.97 3.3 155.87 5.2 Motto by Hilton 83.3 (0.2) 245.40 2.8 204.36 2.6 Hilton Garden Inn 73.7 0.5 149.23 2.6 109.94 3.3 Hampton by Hilton 75.0 0.8 135.80 2.8 101.83 3.9 Tru by Hilton 76.5 1.4 137.78 3.2 105.43 5.1 Homewood Suites by Hilton 83.4 1.7 171.24 2.8 142.87 4.9 Home2 Suites by Hilton 79.9 2.5 142.44 2.6 113.79 5.9 Segment Management and franchise 74.8 % 1.0 % pts. $ 166.35 2.6 % $ 124.47 4.0 % Ownership (2) 79.5 1.2 222.48 (4.8) 176.94 (3.4) (continued on next page) 7 HILTON WORLDWIDE HOLDINGS INC. COMPARABLE AND CURRENCY NEUTRAL SYSTEM-WIDE HOTEL OPERATING STATISTICS BY REGION, BRAND AND SEGMENT (unaudited) Six Months Ended June 30, Occupancy ADR RevPAR 2026 vs. 2025 2026 vs. 2025 2026 vs. 2025 System-wide 71.3 % 1.3 % pts. $ 162.51 2.0 % $ 115.93 3.9 % Region U.S. 73.2 % 1.6 % pts. $ 174.72 2.3 % $ 127.93 4.7 % Americas (excluding U.S.) 66.3 0.9 157.97 3.3 104.78 4.8 Europe 72.2 2.0 168.31 2.5 121.51 5.5 Middle East & Africa 58.6 (10.0) 201.45 (0.4) 118.09 (15.0) Asia Pacific 66.7 1.6 99.57 0.5 66.45 2.9 Brand (1) Waldorf Astoria Hotels & Resorts 64.7 % (0.8) % pts. $ 492.15 1.2 % $ 318.36 (0.1) % Conrad Hotels & Resorts 72.0 (0.8) 295.63 2.3 212.98 1.2 LXR Hotels & Resorts 64.5 4.0 506.30 5.9 326.76 12.9 Canopy by Hilton 72.8 1.3 236.44 2.5 172.08 4.4 Hilton Hotels & Resorts 70.0 1.2 198.24 1.8 138.83 3.6 Curio Collection by Hilton 71.8 2.4 250.68 2.2 179.93 5.8 Graduate by Hilton 64.5 2.2 222.12 3.0 143.24 6.7 DoubleTree by Hilton 68.5 1.1 149.94 2.2 102.74 3.9 Tapestry Collection by Hilton 68.8 3.5 193.00 2.6 132.71 8.0 Embassy Suites by Hilton 75.9 1.5 191.96 2.3 145.74 4.3 Motto by Hilton 78.8 0.4 210.44 1.3 165.74 1.8 Hilton Garden Inn 69.6 0.8 143.24 1.8 99.72 3.0 Hampton by Hilton 70.8 1.0 130.06 2.1 92.07 3.5 Tru by Hilton 71.6 1.2 131.92 2.7 94.41 4.5 Homewood Suites by Hilton 80.1 1.7 163.78 1.9 131.11 4.0 Home2 Suites by Hilton 76.6 2.6 138.32 2.0 105.98 5.6 Segment Management and franchise 71.3 % 1.3 % pts. $ 161.97 2.1 % $ 115.48 4.0 % Ownership (2) 74.7 2.8 211.55 (3.2) 158.05 0.6 ____________ (1) Excludes brands for which a significant number of the hotels were designated as non-comparable hotels as of the end of the period so as to make comparative statistics for such brand not meaningful. (2) Includes hotels owned or leased by entities in which we own a noncontrolling financial interest. 8 HILTON WORLDWIDE HOLDINGS INC. PROPERTY SUMMARY As of June 30, 2026 Ownership (1) Managed Franchised / Licensed Total Properties Rooms Properties Rooms Properties Rooms Properties Rooms Waldorf Astoria Hotels & Resorts 2 463 38 9,299 — — 40 9,762 Conrad Hotels & Resorts 1 164 44 14,121 6 3,057 51 17,342 LXR Hotels & Resorts — — 7 1,155 10 1,670 17 2,825 NoMad — — 1 91 — — 1 91 Signia Hilton — — 6 4,293 — — 6 4,293 Canopy by Hilton — — 15 2,699 34 6,103 49 8,802 Hilton Hotels & Resorts 43 14,659 312 130,546 271 84,155 626 229,360 Curio Collection by Hilton — — 33 7,232 175 31,851 208 39,083 Graduate by Hilton — — — — 35 5,881 35 5,881 DoubleTree by Hilton — — 170 45,480 548 114,925 718 160,405 Tapestry Collection by Hilton — — 9 2,971 197 23,141 206 26,112 Embassy Suites by Hilton — — 36 9,498 232 52,000 268 61,498 Tempo by Hilton — — 1 661 8 1,350 9 2,011 Outset Collection by Hilton — — — — 5 523 5 523 Motto by Hilton — — — — 12 2,547 12 2,547 Hilton Garden Inn — — 135 26,846 1,030 145,851 1,165 172,697 Hampton by Hilton — — 48 7,750 3,182 357,019 3,230 364,769 Tru by Hilton — — 14 1,565 340 32,928 354 34,493 Spark by Hilton — — 1 329 274 23,961 275 24,290 Homewood Suites by Hilton — — 7 928 555 63,781 562 64,709 Home2 Suites by Hilton — — 2 210 911 100,689 913 100,899 LivSmart Studios by Hilton — — — — 3 339 3 339 Apartment Collection by Hilton — — — — 3 764 3 764 Strategic partner hotels (2) — — — — 562 26,124 562 26,124 Other (3) — — 3 803 11 3,019 14 3,822 Total hotels 46 15,286 882 266,477 8,404 1,081,678 9,332 1,363,441 Hilton Grand Vacations (4) — — — — 121 21,401 121 21,401 Total system 46 15,286 882 266,477 8,525 1,103,079 9,453 1,384,842 Ownership (1) Managed Franchised / Licensed Total Properties Rooms Properties Rooms Properties Rooms Properties Rooms U.S. — — 175 78,529 6,151 784,690 6,326 863,219 Americas (excluding U.S.) 1 405 67 17,836 450 57,229 518 75,470 Europe 37 10,661 108 26,258 809 96,288 954 133,207 Middle East & Africa 3 1,376 120 34,457 47 6,856 170 42,689 Asia Pacific 5 2,844 412 109,397 947 136,615 1,364 248,856 Total hotels 46 15,286 882 266,477 8,404 1,081,678 9,332 1,363,441 Hilton Grand Vacations (4) — — — — 121 21,401 121 21,401 Total system 46 15,286 882 266,477 8,525 1,103,079 9,453 1,384,842 ____________ (1) Includes hotels owned or leased by entities in which we own a noncontrolling financial interest. (2) Includes hotels that are included in our booking channels and participate in the Hilton Honors guest loyalty program through strategic partnership arrangements. (3) Includes other hotels in our system that are not distinguished by a specific Hilton brand. (4) Includes properties under our timeshare brands including Hilton Club, Hilton Grand Vacations Club and Hilton Vacation Club. 9 HILTON WORLDWIDE HOLDINGS INC. CAPITAL EXPENDITURES AND CONTRACT ACQUISITION COSTS (dollars in millions) (unaudited) Three Months Ended June 30, Increase / (Decrease) 2026 2025 $ % Capital expenditures for property and equipment (1) $ 12 $ 23 (11) (47.8) Capitalized software costs (2) 25 20 5 25.0 Total capital expenditures 37 43 (6) (14.0) Contract acquisition costs, net of refunds 51 42 9 21.4 Total capital expenditures and contract acquisition costs $ 88 $ 85 3 3.5 Six Months Ended June 30, Increase / (Decrease) 2026 2025 $ % Capital expenditures for property and equipment (1) $ 21 $ 42 (21) (50.0) Capitalized software costs (2) 47 41 6 14.6 Total capital expenditures 68 83 (15) (18.1) Contract acquisition costs, net of refunds 77 72 5 6.9 Total capital expenditures and contract acquisition costs $ 145 $ 155 (10) (6.5) ___________ (1) Represents expenditures for hotels, corporate and other property and equipment, which include amounts reimbursed by third parties of $6 million and $10 million for the three months ended June 30, 2026 and 2025, respectively, and $12 million and $22 million for the six months ended June 30, 2026 and 2025, respectively. Excludes expenditures for FF&E replacement reserves of $13 million and $19 million for the three months ended June 30, 2026 and 2025, respectively, and $23 million and $32 million for the six months ended June 30, 2026 and 2025, respectively. (2) Includes $24 million and $18 million of expenditures that were reimbursed to us by third parties for the three months ended June 30, 2026 and 2025, respectively, and $44 million and $38 million for the six months ended June 30, 2026 and 2025, respectively. 10 HILTON WORLDWIDE HOLDINGS INC. RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES NET INCOME AND DILUTED EPS, ADJUSTED FOR SPECIAL ITEMS (in millions, except per share data) (unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Net income attributable to Hilton stockholders, as reported $ 482 $ 440 $ 867 $ 740 Diluted EPS, as reported $ 2.10 $ 1.84 $ 3.76 $ 3.07 Special items: Cost reimbursement revenues (1) $ (1,982) $ (1,811) $ (3,737) $ (3,441) Reimbursed expenses (1) 2,008 1,895 3,857 3,654 FF&E replacement reserves 13 19 23 32 Tax-related adjustments (2) 1 1 3 3 Other adjustments (3) 15 11 16 21 Total special items before taxes 55 115 162 269 Income tax expense on special items (13) (28) (39) (64) Total special items after taxes $ 42 $ 87 $ 123 $ 205 Net income, adjusted for special items $ 524 $ 527 $ 990 $ 945 Diluted EPS, adjusted for special items $ 2.29 $ 2.20 $ 4.30 $ 3.92 ____________ (1) Amounts include results from the operation of programs conducted for the benefit of property owners and exclude cash receipts recorded as deferred revenues on our condensed consolidated balance sheets related to these programs. Under the terms of the related contracts, we do not operate these programs to generate a profit and have contractual rights to adjust future collections to recover prior period expenditures. (2) Amounts include income tax expenses (benefits) related to the enactment of new tax laws and certain changes in unrecognized tax expenses (benefits). (3) Amounts for the three and six months ended June 30, 2025 include expected future credit losses on financing receivables, which were recognized in other non-operating income, net. Amount for the six months ended June 30, 2025 includes restructuring costs related to one of our leased hotels, which were recognized in ownership expenses. Amounts for all periods include losses (gains) related to severance and other items, including non-cash charges, which are recognized in various line items, such as net losses (gains) related to certain of our investments in unconsolidated affiliates, which were recognized in other non-operating income, net and the amortization expense related to finite-lived intangible assets that were recorded at fair value in 2007 when the Company became a wholly owned subsidiary of affiliates of Blackstone Inc., which was recognized in depreciation and amortization expenses. 11 HILTON WORLDWIDE HOLDINGS INC. RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES NET INCOME MARGIN AND ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN (dollars in millions) (unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Net income $ 482 $ 442 $ 865 $ 742 Interest expense 183 151 345 296 Income tax expense 198 187 333 297 Depreciation and amortization expenses 49 43 99 84 Loss (gain) on foreign currency transactions 7 1 12 (1) FF&E replacement reserves 13 19 23 32 Share-based compensation expense 61 55 106 91 Amortization of contract acquisition costs 17 13 32 27 Cost reimbursement revenues (1) (1,982) (1,811) (3,737) (3,441) Reimbursed expenses (1) 2,008 1,895 3,857 3,654 Other adjustments (2) 18 13 20 22 Adjusted EBITDA $ 1,054 $ 1,008 $ 1,955 $ 1,803 ____________ (1) Amounts include results from the operation of programs conducted for the benefit of property owners and exclude cash receipts recorded as deferred revenues on our condensed consolidated balance sheets related to these programs. Under the terms of the related contracts, we do not operate these programs to generate a profit and have contractual rights to adjust future collections to recover prior period expenditures. (2) Amounts for the three and six months ended June 30, 2025 include expected future credits losses on financing receivables. Amount for the six months ended June 30, 2025 also includes restructuring costs related to one of our leased hotels. Amounts for all periods include losses (gains) related to severance and other items, including non-cash charges, such as net losses (gains) related to certain of our investments in unconsolidated affiliates. Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Total revenues, as reported $ 3,341 $ 3,137 $ 6,278 $ 5,832 Add: amortization of contract acquisition costs 17 13 32 27 Less: cost reimbursement revenues (1) (1,982) (1,811) (3,737) (3,441) Total revenues, as adjusted $ 1,376 $ 1,339 $ 2,573 $ 2,418 Net income $ 482 $ 442 $ 865 $ 742 Net income margin 14.4 % 14.1 % 13.8 % 12.7 % Adjusted EBITDA $ 1,054 $ 1,008 $ 1,955 $ 1,803 Adjusted EBITDA margin 76.6 % 75.2 % 76.0 % 74.6 % ____________ (1) Amounts include revenues from the operation of programs conducted for the benefit of property owners and exclude cash receipts recorded as deferred revenues on our condensed consolidated balance sheets related to these programs. Under the terms of the related contracts, we do not operate these programs to generate a profit and have contractual rights to adjust future collections to recover prior period expenditures. 12 HILTON WORLDWIDE HOLDINGS INC. RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES LONG-TERM DEBT TO NET INCOME RATIO AND NET DEBT AND NET DEBT TO ADJUSTED EBITDA RATIO (dollars in millions) (unaudited) June 30, December 31, 2026 2025 Long-term debt, including current maturities $ 13,343 $ 12,363 Add: unamortized deferred financing costs and discount 101 96 Long-term debt, including current maturities and excluding the deduction for unamortized deferred financing costs and discount 13,444 12,459 Less: cash and cash equivalents (1,009) (918) Less: restricted cash and cash equivalents (55) (52) Net debt $ 12,380 $ 11,489 Six Months Ended Year Ended TTM Ended June 30, December 31, June 30, 2026 2025 2025 2026 Net income $ 865 $ 742 $ 1,461 $ 1,584 Interest expense 345 296 620 669 Income tax expense 333 297 611 647 Depreciation and amortization expenses 99 84 177 192 Loss (gain) on foreign currency transactions 12 (1) 11 24 FF&E replacement reserves 23 32 73 64 Share-based compensation expense 106 91 170 185 Amortization of contract acquisition costs 32 27 57 62 Cost reimbursement revenues (1) (3,737) (3,441) (7,085) (7,381) Reimbursed expenses (1) 3,857 3,654 7,550 7,753 Other adjustments (2) 20 22 80 78 Adjusted EBITDA $ 1,955 $ 1,803 $ 3,725 $ 3,877 Long-term debt $ 13,343 Long-term debt to net income ratio 8.4 Net debt $ 12,380 Net debt to Adjusted EBITDA ratio 3.2 ____________ (1) Amounts include results from the operation of programs conducted for the benefit of property owners and exclude cash receipts recorded as deferred revenues on our condensed consolidated balance sheets related to these programs. Under the terms of the related contracts, we do not operate these programs to generate a profit and have contractual rights to adjust future collections to recover prior period expenditures. (2) Amounts for six months ended June 30, 2025 and year ended December 31, 2025 include expected future credit losses on financing receivables and restructuring costs related to one of our leased hotels. Amount for the year ended December 31, 2025 also includes losses for the partial settlement of one of our pension plans. Amounts for all periods include losses (gains) related to severance and other items, including non-cash charges, such as net losses (gains) related to certain of our investments in unconsolidated affiliates. 13 HILTON WORLDWIDE HOLDINGS INC. RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES OUTLOOK: NET INCOME AND DILUTED EPS, ADJUSTED FOR SPECIAL ITEMS (in millions, except per share data) (unaudited) Three Months Ending September 30, 2026 Low Case High Case Net income attributable to Hilton stockholders $ 502 $ 516 Diluted EPS (1) $ 2.20 $ 2.26 Special items (2) : FF&E replacement reserves $ 20 $ 20 Other adjustments 2 2 Total special items before taxes 22 22 Income tax expense on special items (5) (5) Total special items after taxes $ 17 $ 17 Net income, adjusted for special items $ 519 $ 533 Diluted EPS, adjusted for special items (1) $ 2.28 $ 2.34 Year Ending December 31, 2026 Low Case High Case Net income attributable to Hilton stockholders $ 1,884 $ 1,912 Diluted EPS (1) $ 8.22 $ 8.35 Special items (2) : Cost reimbursement revenues $ (3,737) $ (3,737) Reimbursed expenses 3,857 3,857 FF&E replacement reserves 59 59 Tax related adjustments 3 3 Other adjustments 19 19 Total special items before taxes 201 201 Income tax expense on special items (48) (48) Total special items after taxes $ 153 $ 153 Net income, adjusted for special items $ 2,037 $ 2,065 Diluted EPS, adjusted for special items (1) $ 8.89 $ 9.01 ____________ (1) Does not include the effect of share repurchases made after June 30, 2026. (2) See "—Net Income and Diluted EPS, Adjusted for Special Items" for details of these special items. 14 HILTON WORLDWIDE HOLDINGS INC. RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES OUTLOOK: NET INCOME AND ADJUSTED EBITDA (in millions) (unaudited) Three Months Ending September 30, 2026 Low Case High Case Net income $ 502 $ 516 Interest expense 185 185 Income tax expense 209 215 Depreciation and amortization expenses 50 50 FF&E replacement reserves 20 20 Share-based compensation expense 50 50 Amortization of contract acquisition costs 17 17 Other adjustments (1) 2 2 Adjusted EBITDA $ 1,035 $ 1,055 Year Ending December 31, 2026 Low Case High Case Net income $ 1,883 $ 1,911 Interest expense 726 726 Income tax expense 756 768 Depreciation and amortization expenses 202 202 Loss on foreign currency transactions 12 12 FF&E replacement reserves 59 59 Share-based compensation expense 194 194 Amortization of contract acquisition costs 66 66 Cost reimbursement revenues (3,737) (3,737) Reimbursed expenses 3,857 3,857 Other adjustments (1) 22 22 Adjusted EBITDA $ 4,040 $ 4,080 ____________ (1) See "—Net Income Margin and Adjusted EBITDA and Adjusted EBITDA Margin" for details of these adjustments. 15 HILTON WORLDWIDE HOLDINGS INC. DEFINITIONS Trailing Twelve Month Financial Information This press release includes certain unaudited financial information for the trailing twelve months ("TTM") ended June 30, 2026, which is calculated as the six months ended June 30, 2026 plus the year ended December 31, 2025 less the six months ended June 30, 2025. This presentation is not in accordance with GAAP. However, we believe that this presentation provides useful information to investors regarding our recent financial performance, and we view this presentation of the four most recently completed fiscal quarters as a key measurement period for investors to assess our historical results. In addition, our management uses TTM information to evaluate our financial performance for ongoing planning purposes. Net Income (Loss), Adjusted for Special Items, and Diluted EPS, Adjusted for Special Items Net income (loss), adjusted for special items is calculated as net income (loss) attributable to Hilton stockholders, as reported, plus total special items after taxes. Net income (loss), adjusted for special items, and diluted earnings (loss) per share ("EPS"), adjusted for special items, are not recognized terms under GAAP and should not be considered as alternatives to net income (loss), diluted EPS or other measures of financial performance or liquidity derived in accordance with GAAP. In addition, our definition of net income (loss), adjusted for special items, and diluted EPS, adjusted for special items, may not be comparable to similarly titled measures of other companies. Net income (loss), adjusted for special items, and diluted EPS, adjusted for special items, are included to assist investors in performing meaningful comparisons of past, present and future operating results and as a means of highlighting the results of our ongoing operations. Adjusted EBITDA, Net Income (Loss) Margin and Adjusted EBITDA Margin Adjusted EBITDA is calculated as net income (loss), excluding interest expense, a provision for income tax benefit (expense) and depreciation and amortization expenses, as well as gains, losses, revenues and expenses earned or incurred in connection with: (i) asset dispositions for both consolidated and unconsolidated investments; (ii) foreign currency transactions; (iii) debt restructurings and retirements; (iv) furniture, fixtures and equipment ("FF&E") replacement reserves required under certain lease agreements; (v) share-based compensation; (vi) reorganization, severance, relocation and other expenses; (vii) non-cash impairment; (viii) amortization of contract acquisition costs; (ix) cost reimbursement revenues and reimbursed expenses; and (x) other items. Net income (loss) margin represents net income (loss) as a percentage of total revenues. Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of total revenues, adjusted to exclude the amortization of contract acquisition costs and cost reimbursement revenues. We believe that Adjusted EBITDA and Adjusted EBITDA margin provide useful information to investors about us and our financial condition and results of operations for the following reasons: (i) these measures are used by our management team to evaluate our operating performance and make day-to-day operating decisions and (ii) these measures are frequently used by securities analysts, investors and other interested parties as a common performance measure to compare results or estimate valuations across companies in our industry. Additionally, these measures exclude certain items that can vary widely across different industries and among competitors within our industry. For instance, interest expense and income taxes are dependent on company specifics, including, among other things, capital structure and operating jurisdictions, respectively, and, therefore, could vary significantly across companies. Depreciation and amortization expenses, as well as amortization of contract acquisition costs, are dependent upon company policies, including the method of acquiring and depreciating assets and the useful lives that are assigned to those depreciating or amortizing assets for accounting purposes. We also exclude items such as: (i) FF&E replacement reserves for leased hotels to be consistent with the treatment of capital expenditures for property and equipment, where depreciation of such capitalized assets is reported within depreciation and amortization expenses; (ii) share-based compensation, as this could vary widely among companies due to the different plans in place and the usage of them; and (iii) other items that are not reflective of our operating performance, such as amounts related to debt restructurings and debt retirements and reorganization and related severance costs, to enhance period-over-period comparisons of our ongoing operations. Further, Adjusted EBITDA excludes both cost reimbursement revenues and reimbursed expenses as we contractually do not operate the related programs to generate a profit and have contractual rights to adjust future collections to recover prior period expenditures. The direct reimbursements from property owners are billable and reimbursable as the costs are incurred and have no net effect on net income (loss) in the reporting period. The indirect reimbursements from property owners are typically billed and collected monthly, based on the underlying hotel's sales or usage (e.g., gross room revenue or number of reservations processed), while the associated costs are recognized as incurred by Hilton, creating timing differences, with the net effect impacting net income (loss) in the reporting period. These timing differences are due to our discretion to spend in excess of revenues earned or less than revenues earned in a single period to ensure that the programs are operated in the best long-term interests of our property owners. However, over the life of the operation of these programs, the expenses incurred related to the indirect reimbursements are designed to equal the revenues earned from the indirect reimbursements over time such that, in the long term, the programs will not earn a profit or generate a loss and do not impact our economics, either 16 positively or negatively. Therefore, the net effect of our reimbursed revenues and expenses is not used by management to evaluate our operating performance, determine executive compensation or make other operating decisions, and we exclude their impact when evaluating period over period performance results. Adjusted EBITDA and Adjusted EBITDA margin are not recognized terms under GAAP and should not be considered as alternatives, either in isolation or as a substitute, for net income (loss), net income (loss) margin or other measures of financial performance or liquidity, including cash flows, derived in accordance with GAAP. Further, Adjusted EBITDA and Adjusted EBITDA margin have limitations as analytical tools, may not be comparable to similarly titled measures of other companies and should not be considered as other methods of analyzing our results as reported under GAAP. Net Debt, Long-Term Debt to Net Income (Loss) Ratio and Net Debt to Adjusted EBITDA Ratio Long-term debt to net income (loss) ratio is calculated as the ratio of Hilton's long-term debt, including current maturities, to net income (loss). Net debt is calculated as: long-term debt, including current maturities and excluding the deduction for unamortized deferred financing costs and discounts; reduced by: (i) cash and cash equivalents and (ii) restricted cash and cash equivalents. Net debt to Adjusted EBITDA ratio is calculated as the ratio of Hilton's net debt to Adjusted EBITDA. Net debt and net debt to Adjusted EBITDA ratio, presented herein, are non-GAAP financial measures that the Company uses to evaluate its financial leverage. Net debt should not be considered as a substitute to debt presented in accordance with GAAP, and net debt to Adjusted EBITDA ratio should not be considered as an alternative to measures of financial condition derived in accordance with GAAP. Net debt and net debt to Adjusted EBITDA ratio may not be comparable to similarly titled measures of other companies. We believe net debt and net debt to Adjusted EBITDA ratio provide useful information about our indebtedness to investors as they are frequently used by securities analysts, investors and other interested parties to compare the indebtedness between companies. Comparable Hotels We define our comparable hotels as those that were active and operating in our system for at least one full calendar year and were open January 1st of the previous year. We exclude hotels that have undergone a change in brand or ownership type or a large-scale capital project during the current or comparable periods or otherwise do not have available comparable results, such as those that have sustained substantial property damage or encountered business interruption. We exclude strategic partner hotels from our comparable hotels. Of the 9,332 hotels in our system as of June 30, 2026, 562 hotels were strategic partner hotels and 6,808 hotels were classified as comparable hotels. Our 1,962 non-comparable hotels as of June 30, 2026 included (i) 988 hotels that were added to our system after January 1, 2025 or that have undergone a change in brand or ownership type during the current or comparable periods reported and (ii) 974 hotels that were removed from the comparable group for the current or comparable periods reported because they underwent or are undergoing large-scale capital projects, sustained substantial property damage, encountered business interruption or comparable results were otherwise not available for them. Occupancy Occupancy represents the total number of room nights sold divided by the total number of room nights available at a hotel or group of hotels for a given period. Occupancy measures the utilization of available capacity at a hotel or group of hotels. Management uses occupancy to gauge demand at a specific hotel or group of hotels in a given period. Occupancy levels also help management determine achievable Average Daily Rate ("ADR") pricing levels as demand for hotel rooms increases or decreases. ADR ADR represents hotel room revenue divided by the total number of room nights sold for a given period. ADR measures the average room price attained by a hotel, and ADR trends provide useful information concerning the pricing environment and the nature of the customer base of a hotel or group of hotels. ADR is a commonly used performance measure in the industry, and we use ADR to assess pricing levels that we are able to generate by type of customer, as changes in rates charged to customers have different effects on overall revenues and incremental profitability than changes in occupancy, as described above. Revenue per Available Room ("RevPAR") RevPAR is calculated by dividing hotel room revenue by the total number of room nights available to guests for a given period. We consider RevPAR to be a meaningful indicator of our performance as it provides a metric correlated to two primary and key drivers of operations at a hotel or group of hotels, as previously described: occupancy and ADR. RevPAR is also a useful indicator in measuring performance over comparable periods for comparable hotels. References to occupancy, ADR and RevPAR are presented on a comparable basis, based on the comparable hotels as of June 30, 2026, and references to ADR and RevPAR are presented on a currency neutral basis, unless otherwise noted. As such, comparisons of these hotel operating statistics for the three and six months ended June 30, 2026 and 2025 use foreign currency exchange rates for the three and six months ended June 30, 2026, respectively. 17 Pipeline Rooms under construction include rooms for hotels under construction or operating hotels that are in the process of conversion to our system. 18

the item shown at left

other guidance in this release

Text is the filed exhibit, verbatim.