On March 23, 2018, Mr. Ronald Rubin informed Joseph F. Coradino, the Chairman of the Board of Trustees of Pennsylvania Real Estate Investment Trust (the “Company”) that he had decided not to stand for reelection as a Trustee at the upcoming Annual Meeting of Shareholders to be held on May 31, 2018. Mr. Rubin indicated that his decision not to stand for reelection was for personal reasons, and not the result of any disagreement with the company on any matter relating to the Company’s operations, policies or practices.