DALLAS, Feb. 2, 2026 — Braemar Hotels & Resorts Inc. (NYSE: BHR) (the “Company”) today announced clarifications regarding its first – quarter preferred dividend declarations and the 2026 common dividend policy.

Richard Stockton, President & Chief Executive Officer of the Company, stated, “We are updating the dividend declaration process for our preferred equity securities to synchronize the dividend cycles of our different classes of preferred stock shares in connection with the Company’s previously announced Company Sale process. Since our Series B and Series D preferred stocks are on an equal footing with our Series E and Series M preferred stocks in terms of distributions, they should receive fair treatment regarding dividend declarations. To handle this consistently, we are shifting from declaring Series B and Series D dividends at the beginning of the quarter to’monthly reserving’ them along with our other monthly dividend declarations for Series E and Series M. This ensures that all parity requirements for distributions across all our series of preferred stocks are met while still maintaining the actual quarterly payment of our Series B and Series D preferred stocks on or around the 15th of the month after the quarter – end. This also gives us flexibility in case we have a strategic transaction that requires the redemption or conversion of the outstanding preferred equity securities during the middle of a quarter.”

He went on to say, “Please note that the dividend calculation rates remain the same and continue to follow the respective Supplementary Articles for each series of our preferred stock.”

“Regarding our common equity dividend policy, the Board has not declared a policy for 2026 because there is an ongoing Company Sale Process, which might lead to the Company’s assets being sold in multiple transactions, and the net proceeds will be distributed to shareholders after fulfilling the Company’s other obligations.”

The Company will provide further updates as necessary.

About Braemar Hotels & Resorts

Braemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) that focuses on the high – growth luxury hotel and resort sector. The Company aims for high – performance luxury urban and resort properties, specializing in assets that generate revenue per available room (RevPAR) at least twice the U.S. national average. Its industry – leading portfolio includes luxury properties across the United States and U.S. territories in the Caribbean. Externally advised by Ashford Hospitality Advisors LLC, Braemar utilizes in – depth industry expertise and disciplined asset management to achieve outstanding performance.

Forward – Looking Statements

Some statements and assumptions in this press release contain or are based on “forward – looking” information and are made in accordance with the safe – harbor provisions of federal securities regulations. Forward – looking statements are usually recognizable by the use of forward – looking terms such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “anticipate,” “estimate,” “approximately,” “believe,” “could,” “project,” “predict,” or other similar words or expressions. Additionally, statements about the following topics are inherently forward – looking: our business and investment strategy; expected purchases, sales, or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property – level debt; our ability to obtain additional financing to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward – looking statements are based on our beliefs, assumptions, and expectations of our future performance, taking into account all currently known information. These beliefs, assumptions, and expectations can change due to many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, operating results, plans, and other objectives may differ significantly from those expressed in our forward – looking statements. You should carefully consider this risk when making an investment decision regarding our securities. These and other risk factors are more comprehensively discussed in the Company’s filings with the SEC.

The forward – looking statements in this press release are only made as of the date of this press release. Investors should not overly rely on these forward – looking statements. We will not publicly update or revise any forward – looking statements, whether due to new information, future events or circumstances, changes in expectations, or otherwise, except as required by law.

SOURCE Braemar Hotels & Resorts, Inc.