RAK Hospitality Holding Signs Agreement with American Kona Grill

to Roll-out 6 Concept Restaurants across the UAE

Concept to meet increasing demand for American premier dining in Abu Dhabi, Dubai and Ras Al Khaimah

Ras Al Khaimah, April 14, 2016 – RAK Hospitality Holding (“RAKHH”), an asset owner and manager of a diverse portfolio of government owned hotels and leisure assets in Ras Al Khaimah, today announced that its subsidiary, Hakaya Collection (“Hakaya”), has signed a franchise development agreement with Kona Grill, Inc. (NASDAQ: KONA), an American grill and sushi bar to develop six Kona Grill concept restaurants across all of the UAE over the next seven years.

Kona Grill will join a collection of world class concepts from Hakaya, such as Marina Muse Bar and Restaurant, Motor Mouth Food Truck, The Bay Sports Bar, Yansoon and Pesto, which are some of the most popular dining options for the residents of Ras Al Khaimah.

Commenting on the agreement, Yannis Anagnostakis, Chief Executive Officer of RAKHH, said: “The UAE is an important and growing market. With its thriving hospitality, retail and F&B sector, we are hoping to bring additional brands that people will love and constantly visit. We are excited to partner with Kona Grill because of their unique concept which we believe will meet the increasing demand for premier casual dining concepts in the UAE. We are confident that Kona Grill will be well-received in Abu Dhabi, Dubai and Ras Al Khaimah and we look forward to working with our new partners on successfully launching this brand.”

Berke Bakay, President and CEO at Kona Grill, said “We are pleased to partner with Hakaya and RAKHH for the development of six Kona Grill restaurants. Their vast experience in hotels and restaurants makes them the right partner to build our brand in the UAE. The signing of this agreement marks another milestone in our international strategy and follows the Mexico development agreement signed earlier this year.”

Kona Grill is an American brand of restaurants offering a differentiated cuisine, an extraordinary design and high standards of food and service. The restaurant offers freshly prepared affordable food in a contemporary ambiance that generates an exceptional experience under Premier Casual Dining. In the United States, Kona Grill concepts are located in high-activity areas such as retail centres, shopping malls, urban entertainment districts and lifestyle centres.

About RAK Hospitality Holding (“RAKHH”)

Established in 2014 by the government of Ras Al Khaimah, RAK Hospitality Holding LLC was formed with a mandate to consolidate and asset manage a diverse portfolio of government owned hotels, hospitality and leisure assets. RAK Hospitality Holding manages subsidiary companies that oversee the entire value chain of hospitality related services in Ras Al Khaimah. Its subsidiaries include; RAK National Hotels; which owns hotel assets ranging from midscale to luxury, and locations ranging from city to beach to desert; namely the Hilton Ras Al Khaimah, Hilton Resort and Spa, Rixos Bab Al Bahr, Banyan Tree Al Wadi, RAK Hospitality Asset Management; the asset management and development advisory arm, RAK Hospitality Logistics; the provider of services and logistics to Ras Al Khaimah’s hospitality sector, Hakaya Collection; the operating arm of hospitality and leisure assets. For more information, please visit: www.rakhospitalityholding.com

About Hakaya Collection (“Hakaya”)

Focusing on entertainment, leisure, dining and retail, Hakaya Collection is devoted to enhancing the lifestyles of Ras Al Khaimah residents and visitors. Fully owned by RAK Hospitality Holding, Hakaya Collection is now looking towards developing new concepts aimed at diversifying customer experiences within the Food and Beverage industry throughout the United Arab Emirates. For more information, please visit: www.hakayacollection.com.

About Kona Grill (“KONA”)

Kona Grill (NASDAQ:KONA) features a global menu of contemporary American favorites, award-winning sushi, and specialty cocktails. Kona Grill owns and operates 37 restaurants, guided by a passion for quality food and personal service. Restaurants are currently located in 19 states and Puerto Rico: Arizona (Chandler, Gilbert, Phoenix, Scottsdale); Colorado (Denver); Connecticut (Stamford); Florida (Miami, Sarasota, Tampa); Georgia (Alpharetta); Idaho (Boise); Illinois (Lincolnshire, Oak Brook); Indiana (Carmel); Louisiana (Baton Rouge); Maryland (Baltimore); Michigan (Troy); Minnesota (Eden Prairie); Missouri (Kansas City); Nebraska (Omaha); New Jersey (Woodbridge); Nevada (Las Vegas (2)); Ohio (Cincinnati, Columbus); Puerto Rico (San Juan); Texas (Austin, Dallas, El Paso, Fort Worth, Friendswood, Houston, Plano, San Antonio, The Woodlands); Virginia (Arlington, Richmond). For more information, visit www.konagrill.com.