HHH board approves spin-off of Seaport Entertainment; distribution ratio 1:9

Howard Hughes Holdings Inc.

Record date July 29, 2024; distribution expected after market close on July 31, 2024.
Each HHH share receives 1 share of Seaport Entertainment for every 9 HHH shares held.
When-issued trading of SEG begins July 29 under symbol 'SEG WI'; regular trading Aug 1 under 'SEG'.
For U.S. tax purposes, shareholders generally recognize no gain/loss except on cash for fractional shares.
Distribution subject to conditions including SEC declaring Form 10 effective.

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