Footnotes:
(a) Including related disclosures.
(b) Reflects 2023E net leverage using balance sheet data as of 06/30/2023 and consensus 2023E Adjusted EBITDA estimates as of Choice's 10/17/2023 offer. Does not include any potential impact from synergies.
(c) Reflects value as of 11/14/2023, assuming $49.50 in cash and 0.324 Choice shares for each Wyndham share.
(d) 6% based on $86 per share current offer value.
(e) Proposed ticking fee commences after 12 months and is payable only if transaction closes.
Disclaimer:
This presentation and the information contained herein are solely for informational purposes. This presentation does not constitute a recommendation regarding the securities of Wyndham Hotels & Resorts. This presentation or any related oral presentation does not constitute any offer to sell or issue, or any solicitation of any offer to subscribe for, purchase or otherwise acquire any securities of Wyndham Hotels & Resorts, nor shall it form the basis of, or be relied upon in connection with, or act as any inducement to enter into any contract or commitment whatsoever with respect to such securities. This presentation is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident located in any jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require registration or licensing within such jurisdiction. The information contained in this presentation, including the forward-looking statements herein, is provided as of the date of this presentation and may change materially in the future. Wyndham Hotels & Resorts undertakes no obligation to update or keep current the information contained in this presentation.