Annual Reports

Disclaimer

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In particular, the stapled securities of Acrophyte Hospitality Trust (a stapled group comprising Acrophyte Hospitality Property Trust and Acrophyte Hospitality Management Trust) have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the U.S. Securities Act. The stapled securities of Acrophyte Hospitality Trust are only being offered outside the United States in reliance on Regulation S under the U.S. Securities Act.

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