Certain statements in this presentation constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements that refer to expectations or other characterizations of future events, circumstances or results are forward-looking statements. Such forward-looking statements include projections and statements regarding expected synergies and benefits of the acquisition. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Wyndham Worldwide, Wyndham Hotel Group and La Quinta Holdings’ fee-based franchising and management operations to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Neither Wyndham Worldwide’s independent auditors, nor La Quinta’s independent auditors, have audited, reviewed, compiled or performed any procedures with respect to the projections included herein for the purpose of their inclusion in this presentation, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this presentation. These projections should not be relied upon as being necessarily indicative that such results will be achieved. You are cautioned not to place undue reliance on these forward-looking statements. Important assumptions and other important factors that could cause actual results to differ materially from those in the forward-looking statements are specified in each of Wyndham Worldwide’s and La Quinta’s most recent Form 10-K for the year ended December 31, 2016 filed with the Securities and Exchange Commission on February 17, 2017 and March 1, 2017, respectively, under “Risk Factors” and in Wyndham Worldwide’s and La Quinta’s subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the Securities and Exchange Commission. Except for ongoing obligations of Wyndham Worldwide to disclose material information under the federal securities laws, Wyndham Worldwide does not undertake any obligation to release any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events. The information in this presentation should be read in conjunction with the consolidated financial statements and accompanying notes and “Management's Discussion and Analysis of Financial Condition and Results of Operations” in Wyndham Worldwide's and La Quinta’s Form 10-K and in Wyndham Worldwide’s and La Quinta’s subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Financial information contained in this presentation includes non-GAAP measures, including EBITDA, adjusted EBITDA, adjusted net income, and adjusted earnings per share, which include or exclude certain items. These non-GAAP measures differ from reported GAAP results and are intended to be helpful to investors as an additional tool for further understanding and assessing Wyndham Worldwide’s and La Quinta’s ongoing core operating performance. Exclusion of items in the non-GAAP presentation should not be considered an inference that these items are unusual, infrequent or non-recurring. Reconciliations of the 2017 projected non-GAAP measures are not included herein because the individual components are not known with certainty as individual financial statements for 2017 have not been completed. The non-GAAP financial measures included herein should not be considered superior to, as a substitute for, or as an alternative to, and should be considered in conjunction with, the GAAP measures. The non-GAAP financial measures herein may differ from similar measures used by other companies. Forward-Looking Statements
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