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HILTON GRAND VACATIONS FOR IMMEDIATE RELEASE Investor Contact : Mark Melnyk 407-613-3327 mark.melnyk@hgv.com Media Contact : Lauren George 407-613-8431 lauren.george@hgv.com Hilton Grand Vacations Reports Second Quarter 2021 Results ORLANDO , Fla . ( July 29 , 2021 ) – Hilton Grand Vacations Inc. ( NYSE : HGV ) ( “ HGV ” or “ the Company " ) today reports second quarter 2021 results . Second Quarter 2021 Results • Contract sales in the second quarter were $ 259 million . • Member count increased for the fourth straight quarter , and Net Owner Growth ( NOG ) for the 12 months ended June 30 , 2021 returned to growth , at 0.5 % . • Total revenues for the second quarter were $ 334 million compared to $ 123 million for the same period in 2020 . • its Total revenues were affected by deferrals of $ 42 million and $ 4 million in the current period and the same period in 2020 , respectively . • • • • Net income for the second quarter was $ 9 million compared to ( $ 48 ) million net loss for the same period in 2020 . • Net income ( loss ) was affected by net deferrals of $ 22 million and $ 3 million for the current period and the same period in 2020 , respectively . Diluted EPS for the second quarter was $ 0.10 compared to ( $ 0.56 ) for the same period in 2020 . • Diluted EPS was affected by net deferrals of $ 22 million and $ 3 million , or $ 0.25 and $ 0.04 per share in the current period and the same period in 2020 , respectively . Adjusted EBITDA for the second quarter was $ 70 million compared to ( $ 19 ) million for the same period in 2020 . Adjusted EBITDA was affected by net deferrals of $ 22 million and $ 3 million in the current period and the same period in 2020 , respectively . • In addition to the adverse impact from the closure of HGV sales centers and resort operations , the COVID - 19 pandemic had the following impacts on total revenues , net loss , diluted EPS and Adjusted EBITDA for the second quarter : • $ 2 million or $ 0.02 per share benefit from government assistance from Japan and an employee retention credit granted under the CARES Act , primarily related to payments made to employees as a result of operational closures caused by the COVID - 19 pandemic . " Our business showed a solid pickup in the momentum that we saw exiting the first quarter due to a material improvement in our tour flow and continued strength in buyer behavior , " said Mark Wang , president and CEO of Hilton Grand Vacations . " Nearly all of our major markets saw an increase in tours through our sales centers , which is a positive signal for the pace of our recovery driven by the strong demand for leisure travel . In addition , our focus on consistent execution and cost efficiency enabled us to convert those tours into EBITDA , which was demonstrated in our strong margin performance for the quarter . I'm also thrilled to report that we received approval from our shareholders for the proposed acquisition of Diamond Resorts . We're on track to close the acquisition imminently , and we look forward to embarking on this next phase of HGV's evolution . ” 1 The Company's current period results and prior year results include impacts related to deferrals of revenues and direct expenses related to the Sales of VOIs under construction that are recognized when construction is complete . These impacts are reflected in the sub - bullets . 1