The policy for Executive Directors, set out below, will apply from the date of the 2014 AGM (subject to approval), and is available to view
at www.ihgplc.com/investors.
The Committee will consider the remuneration policy annually to ensure it remains aligned with strategic objectives. However, it is
intended that the policy set out below will apply for three years from the 2014 AGM; if any amendments need to be made to the policy
within that timeframe, it will first be presented to be voted upon by shareholders.