Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

PPHE HOTEL GROUP LIMITED

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

✓

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

WALFORD INVESTMENTS HOLDINGS LIMITED

(AN ENTITY OWNED BY FOUR TRUSTS ESTABLISHED FOR THE BENEFIT OF THE IVESHA FAMILY)

4. Full name of shareholder(s) (if different from 3.):iv

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

DATE OF THE TRANSACTION:

9 May, 2017

DATE ON WHICH THE THRESHOLD IS CROSSED:

9 May, 2017

6. Date on which issuer notified:

9 May, 2017

7. Threshold(s) that is/are crossed orreached: vi, vii

18 - 16%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

ORDINARY SHARES

7,990,027

7,990,027

6,690,027

6,690,027

0

15.85%

0

GG00B1Z5FH87

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

N/A

N/A

N/A

N/A

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

N/A

N/A

N/A

N/A

N/A

Nominal

Delta

N/A

N/A

Total (A+B+C)

Number of voting rights

Percentage of voting rights

6,690,027

15.85%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

WALFORD INVESTMENTS HOLDINGS LIMITED

(AN ENTITY OWNED BY FOUR TRUSTS ESTABLISHED FOR THE BENEFIT OF THE IVESHA FAMILY)

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

N/A

14. Contact name:

INBAR ZILBERMAN

15. Contact telephone number:

+44 207 034 1376

Note: Annex should only be submitted to the FCA not the issuer

Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

WALFORD INVESTMENTS HOLDINGS LIMITED

(AN ENTITY OWNED BY FOUR TRUSTS ESTABLISHED FOR THE BENEFIT OF THE IVESHA FAMILY))

Contact address

(registered office for legal entities)

C/O CLERMONT CONSULTANTS (CH) SA

RUE DU RHÔNE 61

1204 GENEVA, SWITZERLAND

Phone number & email

T: +41 (0)22 718 78 10

Email: [email protected]

Other useful information

(at least legal representative for legal persons)

B: Identity of the notifier, if applicable

Full name

N/A

Contact address

N/A

Phone number & email

N/A

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

N/A

C: Additional information