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Dividends and Tax Information

2017 U.K. TAX STRATEGY FOR HOST HOTELS U.K. SUBSIDIARY

In compliance with section 161 and section 19(2) of schedule 19 Finance Act 2016, Host Hotels & Resorts, Inc. is publishing its tax strategy for the year ending 31 December 2017. As the parent of its sole UK subsidiary, we confirm that this strategy will apply to the following UK company.

Our business has a strong focus on corporate responsibility, and we see responsible administration and payment of taxes as a responsibility of our business.

Our overall tax strategy is to:

RISK MANAGEMENT AND GOVERNANCE

Our tax affairs are transparent and compliant with tax legislation, and we recognize that managing tax compliance is increasingly complex. Our internal structure is set up to ensure that:

We keep under review how we meet our tax obligations, by seeking external tax advice, investing in tax training for our staff and managing our relationships with tax authorities.

Attitude toward tax planning

We undertake tax planning as part of our overall business strategy. Professional advice is sought on a transactional basis, with the depth of such advice being driven by our assessment of the risk presented by each transaction.

We do not undertake aggressive tax planning, the sole purpose of which would be obtaining a tax advantage. We have a responsibility to minimize our tax risk and our exposure to negative publicity resulting from non-compliance.

Attitude towards risk

The Board sees compliance with tax legislation as key to managing our tax risk. We understand the importance of tax in the wider context of business decisions and have processes in place to ensure tax is considered as part of our decision-making process.

We have relationships with professional advisers that allow us to seek expert advice on specialist areas of tax when there is a material level of uncertainty or complexity. Our approach is to ensure we are compliant and understand our responsibilities with regards to tax, rather than looking for ways to aggressively avoid payment of tax.

The Board is conscious of the negative publicity caused by an aggressive attitude towards tax, and sees strong internal processes and a good relationship with our professional advisors as the best way to manage this reputational risk.

Dealings with HM Revenue & Customs (HMRC)

Our communication with HMRC consists of timely tax compliance, including meeting relevant filing and payment deadlines for taxes the company owes.

We employ the services of professional tax advisers to act as our agents, and, when appropriate, they liaise with HMRC on our behalf. This is seen by the Board and senior management as a way to ensure that we get the most out of our relationship with HMRC, thus reducing our tax risk.