Investor Presentation November 2023

INVESTOR PRESENTATION NOVEMBER 2023 Geographic and Customer Diversification The Company's segmentation has changed over the past few years through our strategic acquisitions, dispositions and return on investment capital spend, resulting in a larger group mix. By selling smaller, more-transient focused urban hotels and reinvesting that capital into increasing group at our lifestyle properties, both urban and resort, including the addition of event spaces, lawns and pavilions and remerchandising certain public areas, our overall group mix has increased to approximately 30% from 25%. Columbia River Gorge Guest Segmentation Portland Boston 25% San Francisco Newport 45% Chicago Washington D.C. Santa Cruz Mountains Los Angeles Santa Monica San Diego = Urban Location = Resort Location 41% Resorts # of Hotels 13 pebblebrook 25% 5% Jekyll Island Leisure Transient Fort Lauderdale/ Hollywood Key West Business Transient Leisure Group Top Markets (by % of NAV) Business Group 16% 13% 10% 10% 5% Boston 5 Los Angeles San Francisco San Diego Washington, DC 9 8 4 4 TRUST Note: Based on November 2023 NAV estimates; includes all hotels owned by the Company as of September 30, 2023. 5

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