Host Property AB

As announced in previous press releases, the Tribe Hotels operating companies (Host Property tenant) have been under company reconstruction since June 24, 2020. As of July 31, 2020 Host Hoteleiendom AS took ownership of the operating companies. The operating companies have since been in reconstruction managed by the reconstructor Plana AB. The reconstruction has been an important tool and vehicle to restructure the operating companies during a historic challenging period for the hotel industry and important to secure long term value for the hotel properties in Host Property AB.

As part of the reconstruction process, the following operating companies have on May 4, 2021 filed for, and by the court been declared, bankrupt:

· Tribe Hotel Christian IV AB

· Tribe Hotel Grand Hotel Falun AB

· Tribe Hotel Statt i Örnsköldsvik AB

· Tribe Hotel Söderhamn AB

Even though it is unfortunate that the operating companies goes into bankruptcy, this is necessary given the current market conditions. There may come other bankruptcies in the other Host Property operating companies in the near future.

Host Hoteleiendom AS has a long term view on the operating companies and have plans to reestablish new operating companies shortly, information will follow in due time. Host Property AB will work closely together with the official receiver in the bankruptcy process.

Host Hoteleiendom AS and Host Property AB have since the outbreak of COVID-19 taken actions to secure hotel property values by a number of measures. This has been a long-term battle, but has also proven results by refinancing the debt portfolio and released cash and liquidity in this historic challenging time.