BRAEMAR HOTELS & RESORTS INC. PROVIDES DIVIDEND POLICY CLARIFICATIONS

Core Viewpoint - Braemar Hotels & Resorts Inc. is updating its preferred equity securities dividend declaration process to align with its ongoing Company Sale process, ensuring equitable treatment across different preferred stock classes while maintaining flexibility for potential strategic transactions [2] Dividend Policy - The Company is reserving dividends for Series B and Series D preferred stock on a monthly basis, rather than declaring them at the start of the quarter, to meet parity requirements with Series E and Series M [2] - The dividend calculation rates for preferred stock remain unchanged and follow the respective Articles Supplementary for each series [2] - No common equity dividend policy has been declared for 2026 due to the ongoing Company Sale process, which may involve multiple transactions with net proceeds distributed to shareholders after fulfilling other obligations [2] Company Overview - Braemar Hotels & Resorts Inc. is a real estate investment trust (REIT) focused on the luxury hotel and resort sector, targeting high-performance properties that generate revenue per available room (RevPAR) at least twice the U.S. national average [3] - The Company operates a portfolio of luxury properties across the United States and U.S. territories in the Caribbean, leveraging expertise from Ashford Hospitality Advisors LLC for disciplined asset management [3]