Corvex Management LP is a New York-based investment firm founded by Keith Meister in 2011. Corvex takes a long-term approach, working constructively with the boards and management teams of the companies in which it invests to help unlock durable shareholder value. Over the past fifteen years, members of the Corvex team have served on more than more than a dozen company boards, with a significant focus on the hospitality and consumer sectors.

Corvex has been a shareholder in Whitbread since December 2024 and is currently the Company's largest active shareholder, with a direct shareholding of c. 6.4%. Corvex believes Whitbread is a unique business, anchored by the iconic, market-leading Premier Inn brand, but one that has delivered negative total shareholder returns over the last decade, materially underperforming its peers and the wider market. As Whitbread commits to a further c. £2.5bn of capital investment over the next five years, Corvex believes shareholders should have direct representation on the Board to help guide decisions of this scale.

Corvex is seeking the appointment of its Partner, James Gemmel, to Whitbread's Board. James has a track record of working collaboratively with boards to help improve outcomes for all shareholders. Corvex is not seeking to control the company; it simply wants to work alongside the current Board with no predetermined agenda to benchmark Whitbread's current strategy against all available alternatives to create a pathway that drives value for all shareholders.