HOWARD HUGHES COMPANY® APPOINTS CARLOS OLEA AS FINANCIAL DIRECTOR

HOUSTON (January 12, 2022) – The Howard Hughes Society® (NYSE: HHC) announced today that Carlos Olea has been appointed Chief Financial Officer of the Company, effective January 12, 2022. Mr. Olea becomes Chief Financial Officer at a time of increasing growth and strong financial performance in the acclaimed portfolio of large-scale society. master plan communities (CPMs) and mixed-use properties.

Mr. Olea has been with The Howard Hughes Corporation since 2017 and has served as the Company’s Chief Accounting Officer since 2019, overseeing the financial accounting strategy of the country’s largest MPC portfolio during a period of exceptional growth. Prior to joining HHC, Mr. Olea held the position of Chief Accounting Officer at Carr Properties, an owner-operator and developer based in Washington, DC. Previously, he was a senior director in the advisory services practice of Ernst and Young and director of technical accounting and financial reporting at AvalonBay Communities in Arlington, Virginia.

Mr. Olea holds an MA in Real Estate with a concentration in Finance from Georgetown University and a BS in Accounting and Finance from ITESM, Mexico.

“Carlos has been an integral part of the HHC leadership team for four years and we are fortunate to have him as CFO,” said David O’Reilly, Managing Director of The Howard Hughes Corporation. “What Carlos brings to the table goes well beyond his extensive knowledge of our company and our industry – his collaborative spirit and inspiring leadership style are invaluable assets to the entire HHC team.”

Mr Olea succeeds Correne Loeffler, who took on the role of the company’s CFO in 2021 after then HHC CFO David O’Reilly was appointed CEO.

“We are grateful for the expertise and dedication Correne brought to HHC as she helped us through a period of transition,” said O’Reilly. “Correne has contributed to the exceptional results we have achieved and has positioned HHC for continued growth to come. We are fortunate to have had the leadership of Correne and we wish her continued success in the future. ”

Howard Hughes Corporation’s development pipeline is the largest in company history, with the announcement last year of more than 2,000,000 square feet of new developments across the portfolio, including downtown Columbia.®, Maryland; Neighborhood village® in Honolulu; Summerlin® in Las Vegas ; and Bridgeland® in the greater Houston area, followed by HHC’s recent acquisition of Douglas Ranch, its new 37,000-acre MPC in Phoenix’s West Valley.

“I am delighted to have the opportunity to serve as HHC’s Chief Financial Officer and contribute to the success of the business as we continue to accelerate the growth of our portfolio,” said Mr. Olea. “With HHC’s world-class assets and incredibly strong balance sheet, we are poised to continue building the momentum we’ve seen as we create long-term value in our MPCs and mixed-use developments, and deliver oversized and risk-adjusted returns. to our investors. ”

About the Howard Hughes Society®

The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the United States. At New York; Colombia city center®, Maryland; Woods®, The wooded hills®, and Bridgeland® in the metropolitan area of ​​Houston, Texas; Summerlin®, Las Vegas; Neighborhood village® in Honolulu, Hawai’i; and Douglas Ranch in Phoenix. Howard Hughes Corporation’s portfolio is strategically positioned to respond and accelerate development based on market demand, making it one of the strongest real estate platforms in the country. Dedicated to the creation of innovative spaces, the company is recognized for its ongoing commitment to design excellence and the cultural life of its communities. Howard Hughes Corporation is listed on the New York Stock Exchange as HHC. For more information visit www.howardhughes.com.

Safe Harbor Declaration

Statements made in this press release that are not historical fact, including statements accompanied by words such as “will”, “believe”, “expect”, “allows”, “achieve”, ” plan ”,“ intend ”,“ “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 expectations, estimates , assumptions and projections of management at the date of this press release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. actual results are presented as risk factors in filings by The Howard Hughes Corporation with the Securities and Exchange Commission, including its quarterly and annual reports. Howard Hughes Corporation cautions you not to place undue reliance on any forward-looking statements contained in this press release. Howard Hughes Corporation assumes no 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.

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Contacts

The Howard Hughes Society
Cristina Carlson, 646-822-6910
Senior Vice-President, Head of Corporate Communications
[email protected]

For HHC Investor Relations
Jean Saxon, 281-929-7808
Investor Relations Officer
[email protected]

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