The Board accepted the resignation of Gabriel Escarrer Juliá, Chairman and founder of the Group, and unanimously appointed him Honorary Chairman. In addition, Gabriel Escarrer Jaume was appointed new Chairman of the Board, while retaining his role as CEO. These strategic decisions were taken to ensure the company's continuity, and to give a sense of security and confidence to all stakeholders.

In accordance with the succession plan drawn up at the request of the founder and unanimously approved by the members of the Board of Directors on December 13, 2016, Meliá Hotels International has completed its executive transition process. The Board's aim is to ensure business continuity and maintain the necessary confidence and stability for all stakeholders involved. These decisions were promptly communicated to the National Securities Market Commission (CNMV) to ensure transparency and compliance.

Gabriel Escarrer Juliá, Chairman and Founder of Meliá Hotels International, has voluntarily stepped down as (non-executive) Chairman of the Board. In recognition of his invaluable contribution and dedication, he has been appointed Honorary Chairman of the company, assuming advisory and representative responsibilities alongside the Chairman of the Board. Mr. Escarrer Juliá will also continue to act as an external owner director and member of the Board of Directors.

As part of the succession plan described in the Chairman's succession plan, and based on the recommendations of the Appointments, Remuneration and Sustainable Development Committee, Gabriel Escarrer Jaume has been appointed as the new Chairman of the Board of Directors. In addition to his new duties, Mr. Escarrer Jaume will retain his position as Managing Director, enabling him to ensure effective leadership and management of the company.

Meliá Hotels International expresses its gratitude to Gabriel Escarrer Jaume for his unwavering dedication, invaluable contributions and unfailing support. The Board emphasizes that these decisions demonstrate the realization of the succession plan unanimously approved in December 2016, aligning with Gabriel Escarrer Juliá's desire for an orderly and well-prepared transition. The appointment of the new Chairman underlines the commitment of the entire Board of Directors, ensuring the continuity of business operations and fostering the necessary trust between all stakeholders.