In connection with the consummation on September 18, 2019 (the Closing Date") of the merger contemplated by that certain Agreement and Plan of Merger (the Merger Agreement"), dated May 5, 2019, by and among Chesapeake Lodging Trust (the Trust), Park Hotels & Resorts Inc., PK Domestic Property LLC and PK Domestic Sub LLC (Merger Sub, "and, together with Park and Domestic, the Park Parties"). Pursuant to the Merger Agreement, on September 18, 2019, the Trust merged with and into Merger Sub, with Merger Sub continuing as the surviving entity and a wholly-owned subsidiary of Domestic (the Merger"). As a result of the Merger and pursuant to the Merger Agreement, the Trust merged with and into Merger Sub, with Merger Sub continuing as the surviving entity and a direct, wholly-owned subsidiary of Domestic.

In connection with the consummation of the Merger, on September 18, 2019, all members of the board of trustees of the Trust resigned as trustees of the Trust. These resignations were in connection with the Merger and were not due to disagreement or dispute with the Trust or Park on any matter. In addition, on September 18, 2019, in connection with the consummation of the Merger, each executive officer of the Trust listed below ceased to hold the positions indicated beside such executive officer's name: James L. Francis - President and Chief Executive Officer; Douglas W. Vicari - Executive Vice President and Chief Financial Officer; D. Rick Adams - Executive Vice President and Chief Operating Officer; Graham J. Wootten - Senior Vice President, Chief Accounting Officer and Secretary.