STEADY MOMENTUM CONTINUES AT WARD VILLAGE®

HONOLULU – Ward Village^®, a 60-acre master-planned community by The Howard Hughes Corporation^® (NYSE: HHC), sustained strong performance in the Company’s second-quarter earnings report, with an accelerated post-pandemic recovery, including home sales and an increase in its retail performance, contributing to the report’s financial results.

Ward Village homes across three towers under construction—ʻAʻaliʻi, Kōʻula and Victoria Place —are 86.4% sold, continuing to demonstrate strong demand. Victoria Place is 93.4% sold, and Anaha^® is completely sold out, having closed on its final unit this quarter. ​

“We appreciate the collaboration from the construction, business and community partners throughout Honolulu that make today’s progress possible,” said Doug Johnstone, President, Hawai‘i at The Howard Hughes Corporation. “With three mixed-use residences under construction in the core of the Ward Village neighborhood, we are excited to welcome an array of retailers, restaurateurs and families to our vibrant community.”

“The unique synergy of dynamic streetscapes, open spaces and eclectic shops continues to resonate and differentiate Ward Village,” said Bonnie Wedemeyer, Executive Vice President, Sales & Strategy, The Howard Hughes Corporation.

Strengthened by a long-term partnership with Hawaiʻi Community Foundation, Ward Village remains committed to investing in critical community-serving organizations through donations made in tandem with future development milestones.

Ward Village continues to advance efforts that celebrate community connectivity, most recently housing a Little Free Diverse Library installation at Victoria Ward Park to expand access for Hawaiʻi’s readers and share books that support the themes of equity, diversity and representation. In support of Hawaiʻi’s rising creative stars and entrepreneurs, Ward Village started an Emerging Artist Pop-Up Series with Haku Collective featuring gifted local talent and hosted the Mom Made Market offering a variety of locally-made goods from mompreneurs. Ward Village also invited the community to enjoy a Founder's Day event in partnership with the Foster Botanical Garden and Trees for Honolulu’s Future celebrating Victoria Ward’s life and legacy.

This summer, Ward Village continues to add to its robust retail offerings, welcoming local businesses like The Social Honolulu, Island Brew Coffeehouse, Fat Cheeks Hawaiʻi, Tacos De Gallo Rosa and more to the thriving urban neighborhood.

About Ward Village^®

Ward Village is a 60-acre master-planned community by The Howard Hughes Corporation in the heart of Honolulu, located between downtown and Waikīkī. Honoring the distinct history of its land, Ward Village is at the forefront of sustainable community development – integrating striking architecture, culture and arts, and public open space. At full build-out, the community will include approximately one million square feet of unique retail and thousands of homes, in what Architectural Digest named “Best-Planned Community in the United States.”

As a result of strong demand for new housing in urban Honolulu, Ward Village is quickly approaching sellout of its first four mixed-use residential towers — Waiea^®, Anaha^®, Ae‘o^®, and Ke Kilohana^® — transforming the popular shopping and dining district into a thriving urban neighborhood that offers ocean views and open space, including its newest outdoor gathering place, Victoria Ward Park. New residential buildings in development or under construction include ʻA‘ali‘i, Kō‘ula, and Victoria Place. Since launching public sales in January 2020, Victoria Place has become the fastest-selling market tower in the history of Ward Village. Approved by the Hawaiʻi Community Development Authority (HCDA) in 2021, The Park Ward Village and Ulana Ward Village will be the newest mixed-use developments to join the neighborhood.

Ward Village is the first-ever LEED‐ND Platinum-certified master-planned community in the country, and the only in Hawai‘i. At the forefront of sustainable development, it features public amenities at a scale not offered by any other urban community in the state. For more information, visit www.wardvillage.com.

About The Howard Hughes Corporation^®

The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Its award-winning assets include the country’s preeminent portfolio of master planned cities and communities, as well as operating properties and development opportunities including: the Seaport District in New York; Columbia, Maryland; The Woodlands^®, The Woodlands Hills^®, and Bridgeland^® in the Greater Houston, Texas area; Summerlin^®, Las Vegas; and Ward Village^® in Honolulu, Hawai‘i. The Howard Hughes Corporation’s portfolio is strategically positioned to meet and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country. Dedicated to innovative place making, the company is recognized for its ongoing commitment to design excellence and to the cultural life of its communities. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC.

Safe Harbor Statement

Statements made in this press release that are not historical facts, including statements accompanied by words such as “will,” “believe,” “expect,” “enables,” “realize”, “plan,” “intend,” “assume,” “transform” and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, estimates, assumptions, and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in The Howard Hughes Corporation’s filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. The Howard Hughes Corporation cautions you not to place undue reliance on the forward-looking statements contained in this release. The Howard Hughes Corporation does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.