Corvex welcomes Glass Lewis's recommendation that shareholders vote FOR the election of James Gemmel to the Whitbread Board

Corvex urges all shareholders to vote FOR the resolution to elect James Gemmel at the General Meeting on 9 November 2026

LONDON, Oct. 26, 2026 /PRNewswire/ -- Corvex Management LP ("Corvex"), on behalf of funds advised by it, welcomes Glass Lewis's recommendation that shareholders vote FOR the resolution to elect James Gemmel to the Board of Whitbread PLC ("Whitbread" or the "Company") at the General Meeting on 9 November 2026. Corvex is Whitbread's largest active shareholder, with c.6.4% of the Company's ordinary shares and an economic interest including such shares of approximately 7%.

Glass Lewis's recommendation is a clear endorsement of the need for shareholder representation on the Whitbread Board and the valuable experience and alignment James Gemmel would bring to its existing composition.

Following a decade of underperformance, adding one director is a proportionate step. Corvex is not asking for a restructuring of the Board, is not proposing the removal of any Board member and is not seeking control, as such a defensive reaction to the proposal for a single Board seat at Whitbread might suggest.

A spokesperson for Corvex said: "We are encouraged that Glass Lewis has recommended that shareholders vote FOR the election of James Gemmel, recognising the case for shareholder representation on the Whitbread Board. Whitbread's share price has underperformed over one, three, five and ten years at a considerable cost to all shareholders.

"At a time when the Company is committing a further c.£2.5bn of capital over the next five years, we believe one Board seat is a proportionate request. A Board that collectively holds c.0.04% of the Company's shares would benefit from the perspective of a long-term owner, whose interests are fully aligned with all other shareholders. The decision rests with shareholders, and we urge them to vote FOR the resolution on 9 November."

Corvex's letter to shareholders and supplemental materials are available at www.unlockingwhitbread.com.

About Corvex

Corvex Management LP is a New York-based investment firm founded by Keith Meister in 2011. Corvex takes a long-term approach to investing, working constructively with the boards and management teams of the companies in which it invests to help unlock durable shareholder value.

Contacts

Media: Corvex@apcoworldwide.com
Billy Clegg
Jennifer Renwick
Alex Campbell

Shareholders: corvex@georgeson.com
Cas Sydorowitz
Nicholas Laugier
Molly Streeton
Sean Fullerton