Investor Presentation November 2023

INVESTOR PRESENTATION NOVEMBER 2023 SF Remains a Central Hub for Many of Tomorrow's Industries • • • Positive Economic Trends and Local Efforts San Francisco Bay Area is the global leader in Technology, Life Sciences and Al with the world's largest concentration of technology, life sciences and artificial intelligence (AI) companies. SF has the largest number of venture capital (VC) firms and startups globally. Salesforce announced an agreement with San Francisco to keep Dreamforce in the city for 2024, with CEO Marc Benioff praising San Francisco as the 'Al capital of the world' (1) Bay Area Al companies on the Forbes Al top 50 raised $19B, or 70% of the $27B raised by Al companies worldwide. (2) 20 of the top 50 global Al companies, as noted by Forbes, are in the Bay Area. (2) JLL identified 80 locations in San Francisco where Al companies currently lease office space. (3) • New Head of San Francisco Tourism hired to improve public perception and help drive demand to the city. (4) Extensive global marketing campaign to promote travel to San Francisco is underway. AI More than half of the top 10 Al firms in the world are in SF. These companies have raised over $10 billion in VC capital, and they are leasing more space in downtown San Francisco. Life Sciences SF is the 2nd largest life sciences hub in the world, after Boston. Home to more than 2,000 life sciences companies and start- ups, it is attracting more investment. (5) Big Tech More than half of the world's top 10 big tech companies are based in the Bay Area. These companies are responsible for creating millions of jobs and driving economic growth in the region. VC SF accounts for more than 40% of all venture capital investment in the US and is one of the top destinations for foreign direct investment in the US. The Bay Area is expected to remain a central hub for many of tomorrow's leading job and wealth industries. It is a place where new ideas are born, and where businesses can grow and thrive. pebblebrook HOTEL TRUST (1) Source: "Salesforce CEO says Dream force is staying in San Francisco after reaching deal with mayor" Novet, Jordan, November 7, 2023. (2) Source: Forbes Al Top 50 (3) Source: "San Francisco Em ergers as a Hotspot for Al Companies" Petkovic, Anica, July 11, 2023. (4) Source: "San Francisco Hires Tourism Boss to Battle 'Ongoing Narrative' About Surging Crime, Ram pant Drug Use" Reilly, Patrick, September 9, 2023. (5) Source: "Top 20 US Metros for Life Science Companies in 2022" Commercial Café, July 6, 2022. 21

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