Transaction Details

Footnotes

This is the weighted average price. These shares were purchased in multiple transactions at prices ranging from $9.03 to $9.04, inclusive. The reporting person undertakes to provide to Pebblebrook Hotel Trust, any security holder of Pebblebrook Hotel Trust or the staff of the United States Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote to this Form 4. | The reporting person disclaims beneficial ownership with respect to one-half of these shares. | The reporting person disclaims beneficial ownership with respect to one-half of all but 11,906 of these shares.