Appointment of Non-Executive Director

PPHE Hotel Group, the international hospitality real estate group which develops, owns and operates hotels and resorts, announces the appointment of Yoav Papouchado as Non-Executive Director to its Board of Directors, effective today.

Yoav Papouchado, Chairman of Red Sea Hotels Limited ("Red Sea"), has over 30 years of experience in residential developments and data centres worldwide, developed through his long tenure at Red Sea. Yoav is also Vice Chairman of the Supervisory Board of Arena Hospitality Group, the Company's subsidiary listed on the Zagreb Stock Exchange. Yoav has a B.A. in Economics and an MBA, both from Tel Aviv University. Yoav Papouchado also acted as an Alternate Director for Eli Papouchado for five years from 2020.

Red Sea is controlled by Eli Papouchado, who, together with his family trusts, owns 32.87 per cent of the issued share capital of the Company (excluding treasury shares). Yoav Papouchdo will act as the second representative director of the Red Sea Group alongside Roni Hisch, in line with Red Sea's contractual rights under the Relationship Agreement with the Company.

Kenneth Bradley, Non-Executive Chairman of PPHE, commented:

"We are very pleased to welcome Yoav to the Board. As Chairman of Red Sea, he is a senior appointment who will bring significant expertise and experience to the Company. Following the appointment, we intend to review the overall composition and balance of the Board, and we look forward to updating further on this in due course".

No further information is required to be disclosed under UKLR 6.4.8R.