Pebblebrook Hotel Trust : Investor Presentation April 2021 LOW RESOLUTION

hotel zena washington dc

Investor Presentation

April 2021

Forward-Looking Statements

This presentation contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of Pebblebrook Hotel Trust's (the "Company") business, financial condition, liquidity, results of operations, plans and objectives. These forward-looking statements are based on the Company's beliefs, assumptions, estimates and expectations of future performance, taking into account information currently available to the Company. These beliefs, assumptions, estimates and expectations can change as a result of many possible events or factors, not all of which are known to the Company. If a change occurs, the Company's business, prospects, financial condition, liquidity and results of operations may vary materially from these forward-looking statements. These risks and uncertainties include, but are not limited to, the state of the U.S. economy, supply and demand in the hotel industry and other factors as are described in greater detail in the Company's filings with the Securities and Exchange Commission, including, without limitation, the Company's Annual Report on Form 10-K for the year ended December 31, 2020. You should carefully consider these risks when you make an investment decision concerning the Company's securities. You are cautioned not to place undue reliance on any forward-looking statements. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This presentation does not constitute, and may not be used in connection with, an offer or solicitation by anyone.

The Company assumes no obligation to update or revise any of the information in this document.

The following presentation includes financial projections and forward-looking statements. These projections and forward-looking statements are based on assumptions and estimates developed by the Company and actual results may vary from the projections and such variations may be material. This presentation includes estimates and the Company makes no representation as to the accuracy of these estimates. Additionally, this presentation should not be relied upon or regarded as a representation by the Company, management or its employees that the forward-looking statements, or beliefs, assumptions, estimates or expectations of future performance underlying them, will be achieved.

Investor Inquiries:

Raymond D. Martz

Chief Financial Officer

1. [e-mail]

chaminade resort & spa

san diego mission bay resort

2

Reasons to Invest in Pebblebrook

Focus on unique, experiential, lifestyle urban hotels and resorts

Diversified portfolio in key gateway cities and resort markets

Relentless approach to avant-gardedesign,

asset management and capital allocation

Positioned for superior growth

Proven track record of delivering superior returns

to our shareholders

3

The Premier Lifestyle Lodging REIT

Pebblebrook's lifestyle hotels and resorts are naturally oriented toward leisure, which is currently beneficial since most travelers during the COVID-19 pandemic are leisure customers

Historical Segmentation

EBITDA Contribution by Hotel Type

Redevelopments/Renovations

25%	19%	19%
40%
35%				37
		62%
	Leisure Transient		Unique Lifestyle Resorts		Hotels
	Corporate Transient		Urban Lifestyle		Redeveloped/Renovated
			Since 2015
	Group		Urban Major Brand

the marker key west harbor resort

4

hotel spero

focus on unique, experiential, lifestyle urban hotels and resorts

mondrian los angeles

laplaya beach resort & club