Investor Presentation November 2023

INVESTOR PRESENTATION NOVEMBER 2023 2023 Capital Investment Highlights Our outlook for capital investments is on a project-by-project basis depending on various factors such as scope, hotel demand, market recovery pace and supply chain lead times. Hotel Skamania Lodge Hilton San Diego Gaslamp Quarter Jekyll Island Club Resort Amount $12.8 $25.0 $21.0 Viceroy Santa Monica Hotel $9.0 Margaritaville Hotel San Diego Gaslamp Quarter $27.0 Estancia La Jolla Hotel & Spa $25.0 Southernmost Beach Resort Scope Phase one of a multi-phase master plan for 100 acres, which, when complete, will add further variety to accommodations, amenity and meeting space offerings (new tree houses, glamping units, villa/cabins, a pavilion, etc.) Comprehensive redevelopment and renovation, including expanded outdoor bar/dining/event space highlighting California's casual modern elegance Comprehensive transformation bringing southern luxury to a historic and iconic resort Comprehensive guestroom renovation, including all case goods, soft goods and bathrooms, completing the two-phase redevelopment restoring this luxury iconic lifestyle hotel Comprehensive redevelopment and repositioning, which on August 15 relaunched as Margaritaville Hotel San Diego Gaslamp Quarter, a lifestyle hotel featuring the Margaritaville offerings and state of mind Comprehensive guestroom, lobby, spa, pool, ballroom and outdoor venue renovation and repositioning. Guestrooms and venues were completed in June. Significant redevelopment and upgrading of the 4 guest house buildings including 50 guestrooms and $12.5 suites, elevating the guestrooms, public spaces and exteriors to a more contemporary, coastal, luxurious design Forecasted Total Portfolio 2023 Capital Investments = $145.0 to $155.0 pebblebrook HOTEL TRUST Note: Dollars in millions. Timing Q1 2022 Q2 2024 Q3 2022 Q2 2023 Q3 2022 Q2 2023 Q4 2022 Q1 2023 Q4 2022 Q3 2023 Q4 2022 Q2 2024 Q3 2023 Q4 2023 35 55

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