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EXHIBIT 99.1 NEWS RELEASE Contact: Justin Coe Joe Calabrese Chief Accounting Officer Financial Relations Board (888) 517-7456 (212) 827-3772 BRAEMAR HOTELS & RESORTS REPORTS THIRD QUARTER 2026 RESULTS DALLAS, November 4, 2026 – Braemar Hotels & Resorts Inc. (NYSE: BHR) (“Braemar” or the “Company”) today reported financial results and performance measures for the third quarter ended September 30, 2026. The comparable performance measurements for Occupancy, Average Daily Rate (ADR), Revenue Per Available Room (RevPAR), and Hotel EBITDA assume each of the hotel properties in the Company’s hotel portfolio as of September 30, 2026 was owned as of the beginning of each of the periods presented. Unless otherwise stated, all reported results compare the third quarter ended September 30, 2026 with the third quarter ended September 30, 2025 (see discussion below). The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release. THIRD QUARTER 2026 FINANCIAL HIGHLIGHTS Q3 HOTEL FINANCIAL HIGHLIGHTS • RevPAR: Comparable RevPAR for all hotels totaled $284, an increase of 14.4% over the prior year quarter, which is the second-highest Q3 comparable RevPAR in the Company’s history, trailing only the post-pandemic recovery in 2022. Comparable ADR increased 8.6% over the prior year quarter to $419, and Comparable Occupancy increased 5.3% over the prior year quarter to 67.9%. Comparable RevPAR for all hotels excluding the Four Seasons Resort Scottsdale, which was sold in October 2026, totaled $290, an increase of 15.9% over the prior year quarter, with ADR of $411 and occupancy of 70.6%. • Total RevPAR: Comparable Total RevPAR for all hotels increased 10.0% over the prior year quarter to $452, with comparable total hotel revenue up 9.9% to $95.2 million. • Urban Properties: Comparable RevPAR increased 23.3% to $211, and Comparable Hotel EBITDA increased 63.2% to $10.1 million, with Comparable Hotel EBITDA margin expanding 706 basis points to 24.3%. • Resort Properties: Comparable RevPAR increased 5.9% to $457, with Comparable ADR up 8.4% to $889.

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Braemar Hotels & Resorts Reports Third Quarter 2026 Results Page 2 November 4, 2026 • Year-to-Date: Comparable RevPAR for the nine months ended September 30, 2026 increased 10.0% to $366. Comparable Hotel EBITDA was $93.0 million, up 14.9%, with Comparable Hotel EBITDA margin expanding 158 basis points to 26.0%. • Comparable Hotel EBITDA: $12.9 million for the quarter, up 20.7% over the prior year quarter. Comparable Hotel EBITDA margin expanded 122 basis points to 13.6%. Comparable Hotel EBITDA for all hotels excluding the Four Seasons Resort Scottsdale, which was sold in October 2026, totaled $14.0 million, an increase of 43.8% over the prior year quarter. Q3 FINANCIALRESULTS • Net loss: Net loss attributable to common stockholders for the quarter was $240.9 million or ($3.51) per diluted share, compared with a net loss of $8.2 million or ($0.12) per diluted share in the prior year quarter, primarily due to the $480.0 million termination fee payable to our external advisor recorded during the quarter. • Adjusted EBITDAre: $3.9 million for the quarter, compared with $16.4 million in the prior year quarter, which included hotels that have since been sold. Due to the portfolio’s seasonality, the third quarter is traditionally the Company’s lowest-earning quarter of the year. • Adjusted funds from operations (AFFO): ($0.25) per diluted share for the quarter, compared with ($0.19) in the prior year quarter. BALANCE SHEET &CAPITALALLOCATION • Cash: The Company ended the quarter with cash and cash equivalents of $78.9 million and restricted cash of $39.6 million. The vast majority of the restricted cash consists of manager-held reserves. At the end of the quarter, there was also $16.5 million due from third-party hotel managers, which is primarily the Company’s cash held by one of its property managers and is also available to fund hotel operating costs. • Leverage: Net debt to gross assets was 33.3% at the end of the third quarter. All of the Company’s $624.4 million of indebtedness is non-recourse, and the trailing twelve-month Comparable Hotel EBITDA debt yield was 19.0%. • Capital investments: Capex invested during the quarter was $5.0 million. • Preferred redemptions: During the quarter, the Company redeemed approximately $5.0 million of its non-traded preferred stock in cash. Redeemable preferred stock redemptions payable totaled $63.5 million as of September 30, 2026. • Refinancing: On October 30, 2026, the Company refinanced its mortgage loan for the Ritz- Carlton Lake Tahoe, which had an existing outstanding balance of $43.4 million, a floating interest rate of SOFR + 3.25% and a final maturity date in January 2027. The new loan totals $60.0 million with an additional $15.0 million available to be drawn in the future subject to certain conditions, has a three-year initial term with two one-year extension options and provides for a floating interest rate of SOFR + 2.65%. With this financing now in place, the Company’s next hard debt maturity is not until December 2028.

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Braemar Hotels & Resorts Reports Third Quarter 2026 Results Page 3 November 4, 2026 RECENT OPERATING HIGHLIGHTS • Following the recent conversion to Hilton’s LXR Hotels & Resorts collection, Cameo Beverly Hills delivered RevPAR growth of 82.8% over the prior year quarter. • The Notary Hotel delivered RevPAR of $176, an increase of approximately 33.9% over the prior year quarter, with Hotel EBITDA of approximately $3.9 million, an increase of 72.5% over the prior year quarter. • Sofitel Chicago Magnificent Mile delivered RevPAR of $276, an increase of approximately 18.0% over the prior year quarter, with Hotel EBITDA of approximately $4.7 million, an increase of 75.2% over the prior year quarter, and Hotel EBITDA margin expansion of 1,159 basis points to 34.9%. • The Ritz-Carlton Reserve Dorado Beach delivered RevPAR of $1,025, an increase of approximately 14.4% over the prior year quarter. • On July 14, 2026, the Company closed on the sale of the Ritz-Carlton Sarasota, the Hotel Yountville and the Bardessono Hotel and Spa for a total purchase price of $437.5 million in cash, subject to customary prorations and adjustments. In addition, on August 12, 2026, the Company closed on the sale of the Pier House Resort & Spa for $190.0 million ($1.3 million per key), subject to customary prorations and adjustments. • Subsequent to quarter end, on October 28, 2026, the Company closed on the previously announced sale of the Four Seasons Resort Scottsdale at Troon North for $372 million ($1.8 million per key), subject to customary prorations and adjustments. The sale price represents a 5.8% capitalization rate on net operating income for the trailing 12 months ended September 2026, including anticipated capital expenditures of $23 million. This investment generated an unlevered return of approximately 15%, significantly above our 10% minimum target. “Our luxury portfolio delivered another quarter of double-digit RevPAR and Hotel EBITDA growth. Comparable RevPAR surged 14.4%—our strongest growth since the post-pandemic recovery in 2022 and another near-record result for the quarter—and comparable Hotel EBITDA increased 20.7%,” said Richard J. Stockton, Braemar’s President and Chief Executive Officer. “Growth was broad-based, with comparable ADR up 8.6% and comparable occupancy up 5.3%. We converted that top-line strength into strong profitability, with comparable Hotel EBITDA margin expanding 122 basis points, showcasing the earnings power of our resilient portfolio. “With the closing of the sale of Four Seasons Resort Scottsdale, the final sale needed to complete our transition to self- management and pay the remaining fees owed to our external advisor, we remain on track to complete our transition to a self-managed REIT in mid-November. We are also excited about recently announcing that the Company’s Board of Directors intends to nominate seven new highly qualified and independent leaders for election at the Company’s 2026 Annual Meeting of Stockholders. We look forward to updating shareholders in the coming weeks as we continue to execute on our path to value creation for shareholders.”

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Braemar Hotels & Resorts Reports Third Quarter 2026 Results Page 4 November 4, 2026 CAPITAL STRUCTURE As of September 30, 2026, the Company had total assets of $1.2 billion and $624 million of loans. The Company’s total combined loans had a blended average interest rate of 7.25%. The Company had no fixed-rate debt outstanding, and none of its interest rate caps were in the money at quarter-end; accordingly, all of the Company’s debt was effectively floating rate. DIVIDENDS On October 16, 2026, the Company announced that its Board of Directors declared the following cash dividends: • Series B 5.5% Cumulative Convertible Preferred Stock: $0.3438 per share, payable January 15, 2027 to stockholders of record as of December 30, 2026. • Series D 8.25% Cumulative Preferred Stock: $0.5156 per share, payable January 15, 2027 to stockholders of record as of December 31, 2026. • Series E Redeemable Preferred Stock: $0.15625 per share, payable on November 16, 2026 (to stockholders of record as of October 30, 2026), December 15, 2026 (to stockholders of record as of November 30, 2026) and January 15, 2027 (to stockholders of record as of December 31, 2026). • Series M Redeemable Preferred Stock: $0.17708 to $0.18125 per share depending on CUSIP, payable on November 16, 2026 (to stockholders of record as of October 30, 2026), December 15, 2026 (to stockholders of record as of November 30, 2026) and January 15, 2027 (to stockholders of record as of December 31, 2026). The Board of Directors reviews the Company’s dividend policy on a quarter-to-quarter basis. The adoption of a dividend policy does not commit the Board of Directors to declare future dividends or the amount thereof. HOTEL EBITDA MARGINS AND QUARTERLY SEASONALITY TRENDS The Company believes year-over-year Comparable Hotel EBITDA and Comparable Hotel EBITDA Margin comparisons are more meaningful to gauge the performance of the Company’s hotels than sequential quarter-over-quarter comparisons. To help investors better understand the substantial seasonality in the Company’s portfolio, the Company provides quarterly detail on its Comparable Hotel EBITDA and Comparable Hotel EBITDA Margin for the current and certain prior-year periods based upon the number of hotels in the Company’s portfolio as of the end of the current period. As the Company’s portfolio mix changes from time to time, so will the seasonality for Comparable Hotel EBITDA and Comparable Hotel EBITDA Margin. NON-GAAP MEASURES We use certain non-GAAP measures, in addition to the required GAAP presentations, as we believe these measures improve the understanding of our operational results and make comparisons of operating results among peer real estate investment trusts more meaningful. Non-

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Braemar Hotels & Resorts Reports Third Quarter 2026 Results Page 5 November 4, 2026 GAAP financial measures, which should not be relied upon as a substitute for GAAP measures, used in this press release are FFO, AFFO, EBITDA, EBITDAre, Adjusted EBITDAre, and Hotel EBITDA. Please refer to our most recently filed Annual Report on Form 10-K for a more detailed description of how these non-GAAP measures are calculated. The reconciliations of non-GAAP measures to the closest GAAP measures are provided below and provide further details of our results for the period being reported. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. Securities will be offered only by means of a registration statement and prospectus which can be found at www.sec.gov. About Braemar Hotels & Resorts Braemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Forward-Looking Statements Certain statements and assumptions in this communication contain or are based upon “forward-looking” information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this communication include, among others, statements about the Company’s strategy and future plans. These forward-looking statements are subject to risks and uncertainties. When we use the words “will likely result,” “may,” “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” or similar expressions, we intend to identify forward-looking statements. Such statements are subject to numerous assumptions and uncertainties, many of which are outside Braemar’s control. These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: our nomination of the director candidates; our ability to complete the previously announced shareholder value creation plan on a timely basis, if at all; potential risks related to actions or proposals from activist stockholders; our ability to repay, refinance or restructure our debt and the debt of certain of our subsidiaries; anticipated or expected purchases or sales of assets; our projected operating results; completion of any pending transactions; risks associated with our ability to effectuate our dividend policy, including factors such as operating results and the economic outlook influencing our board’s decision whether to pay further dividends at levels previously disclosed or to use available cash to pay dividends; our understanding of our competition; market trends; projected capital expenditures; the impact of technology on our operations and business; general volatility of the capital markets and the market price of our common stock and preferred stock; availability, terms and deployment of capital; availability of qualified personnel; changes in our industry and the markets in which we operate, interest rates or the general economy; and the degree and nature of our competition. These and other risk factors are more fully discussed in Braemar’s filings with the U.S. Securities and Exchange Commission (the “SEC”). The forward-looking statements included in this communication are only made as of the date of this communication. Such forward- looking statements are based on our beliefs, assumptions, and expectations

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Braemar Hotels & Resorts Reports Third Quarter 2026 Results Page 6 November 4, 2026 of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. Investors should not place undue reliance on these forward-looking statements. The Company can give no assurance that these forward-looking statements will be attained or that any deviation will not occur. We are not obligated to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations, or otherwise, except to the extent required by law. IMPORTANT INFORMATION FOR INVESTORS AND STOCKHOLDERS CERTAIN INFORMATION REGARDING PARTICIPANTS Braemar and its directors and certain of its executive officers will be deemed to be “participants” (as defined in Schedule 14A under the Securities Exchange Act of 1934, as amended) in the solicitation of proxies from the Company’s stockholders by Braemar in connection with the matters to be considered at Braemar’s 2026 Annual Meeting of Stockholders. Information regarding the names of Braemar’s executive officers and directors and their respective interests in Braemar by security holdings or otherwise is set forth (i) in Braemar’s proxy statement for the 2025 Annual Meeting of Stockholders, which was filed with the SEC on October 30, 2025 (the “2025 Proxy Statement”), which is available here, including under the headings “SUMMARY”, “PROPOSAL NUMBER ONE-ELECTION OF DIRECTORS”, “CORPORATE GOVERNANCE”, “BOARD OF DIRECTORS AND COMMITTEES”, “EXECUTIVE OFFICERS”, “EXECUTIVE COMPENSATION”, “PROPOSAL NUMBER TWO-ADVISORY APPROVAL OF EXECUTIVE COMPENSATION”, “SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN BENEFICIAL OWNERS” and “CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS” and (ii) under Item 1.01 “ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT” in the Current Reports on Form 8-K filed by Braemar with the SEC on December 23, 2025 (available here), on March 17, 2026 (available here), on April 3, 2026 (available here) and on May 22, 2026 (available here), under Item 5.02 “DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS” in the Current Reports on Form 8-K filed by Braemar with the SEC on February 25, 2026 (available here), on February 27, 2026 (available here), on March 6, 2026 (available here), on March 17, 2026 (available here) and on May 28, 2026 (available here), under Item 5.07 “SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS” in the Current Report on Form 8-K filed by Braemar with the SEC on December 16, 2025 (available here) and under Item 8.01 “OTHER EVENTS” in the Current Report on Form 8-K filed by Braemar with the SEC on June 1, 2026 (available here). To the extent holdings of such persons in the Company’s securities have changed since the amounts described in the 2025 Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC, by Jim A. Plohg on December 22, 2025 (available here), by Jim A. Plohg on January 14, 2026 (available here), by Monty J. Bennett on February 26, 2026 (available here), by Richard J. Stockton on February 26, 2026 (available here) and by Eric Batis on June

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Braemar Hotels & Resorts Reports Third Quarter 2026 Results Page 7 November 4, 2026 1, 2026 (available here). Additional information can also be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on March 12, 2026 (available here), as amended by the Amendment No. 1 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (available here). Details concerning the nominees of Braemar’s Board of Directors for election at the 2026 Annual Meeting will be included in the Proxy Statement (defined below). These documents, including the definitive Proxy Statement (and any amendments or supplements thereto) and other documents filed by the Company with the SEC, are or will be available free of charge at the SEC’s website at www.sec.gov. Copies of the documents filed by Braemar are also available free of charge by accessing the “SEC Filings” section of the Company’s website at www.braemar.q4ir.com/investor/financials-sec-filings/sec-filings/. Further information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement. IMPORTANT INFORMATION AND WHERE TO FIND IT Braemar Hotels & Resorts Inc. (the “Company” or “Braemar”) intends to file a proxy statement and GOLD proxy card and other relevant documents with the SEC in connection with its solicitation of proxies from the Company’s stockholders for Braemar’s 2026 Annual Meeting of Stockholders (the “Proxy Statement”). This communication is neither a solicitation of a proxy nor a substitute for any proxy statement or other document that Braemar may file with the SEC in connection with any solicitation by Braemar. BRAEMAR STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) FILED BY BRAEMAR AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain copies of these documents and other documents filed with the SEC by Braemar free of charge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed by Braemar are also available free of charge by accessing the “SEC Filings” section of the Company’s website at www.braemar.q4ir.com/investor/financials-sec- filings/sec-filings/.

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) (unaudited) September 30,2026 December 31,2025 ASSETS Investments in hotel properties, gross $ 1,015,612 $ 1,902,328 Accumulated depreciation (263,144) (344,061) Investments in hotel properties, net 752,468 1,558,267 Cash and cash equivalents 78,862 124,354 Restricted cash 39,571 42,479 Accounts receivable, net of allowance of $117 and $113, respectively 24,120 32,843 Inventories 2,356 4,741 Note receivable 9,359 8,896 Prepaid expenses 4,130 6,987 Deposit paid to Ashford Inc. — 17,000 Deferred costs, net 73 75 Investment in OpenKey — 89 Derivative assets 379 56 Other assets 24,254 15,368 Operating lease right-of-use assets 310 30,743 Intangible assets, net — 2,746 Due from third-party hotel managers 16,508 17,088 Assets held for sale 275,310 — Total assets $ 1,227,700 $ 1,861,732 LIABILITIES AND EQUITY Liabilities: Indebtedness, net $ 442,957 $ 1,103,450 Accounts payable and accrued expenses 107,949 142,123 Redeemable preferred stock redemptions payable 63,480 30,864 Dividends and distributions payable 3,780 7,672 Due to Ashford Inc., net 179,333 5,148 Due to related parties, net — 257 Due to third-party hotel managers 408 1,467 Operating lease liabilities 365 20,058 Other liabilities 12,278 25,572 Liabilities associated with assets held for sale 210,483 — Total liabilities 1,021,033 1,336,611 5.50% Series B cumulative convertible preferred stock, $0.01 par value, 3,078,017 shares issued and outstanding at September 30, 2026 andDecember 31, 2025 65,426 65,426 Series E redeemable preferred stock, $0.01 par value, 8,150,132 and 10,818,280 shares issued and outstanding at September 30, 2026 andDecember 31, 2025, respectively 203,764 265,695 Series M redeemable preferred stock, $0.01 par value, 1,269,981 and 1,368,091 shares issued and outstanding at September 30, 2026 andDecember 31, 2025, respectively 31,766 34,217 Redeemable noncontrolling interests in operating partnership 11,173 19,005 Equity: Preferred stock, $0.01 par value, 80,000,000 shares authorized: 8.25% Series D cumulative preferred stock, 1,600,000 shares issued and outstanding at September 30, 2026 and December 31, 2025 16 16 Common stock, $0.01 par value, 250,000,000 shares authorized, 68,679,318 and 68,219,432 shares issued and outstanding at September30, 2026 and December 31, 2025, respectively 687 682 Additional paid-in capital 707,922 706,488 Accumulated deficit (814,087) (568,503) Total stockholders' equity (deficit) of the Company (105,462) 138,683 Noncontrolling interest in consolidated entities — 2,095 Total equity (deficit) (105,462) 140,778 Total liabilities and equity (deficit) $ 1,227,700 $ 1,861,732 8

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 REVENUE Rooms $ 63,147 $ 85,701 $ 294,131 $ 331,617 Food and beverage 25,983 36,637 123,647 133,996 Other 12,448 21,218 63,809 72,840 Total hotel revenue 101,578 143,556 481,587 538,453 EXPENSES Hotel operating expenses: Rooms 18,665 24,728 67,761 80,232 Food and beverage 24,268 30,685 98,075 106,662 Other expenses 38,356 51,766 151,158 168,587 Management fees 3,103 4,440 14,435 16,891 Total hotel operating expenses 84,392 111,619 331,429 372,372 Property taxes, insurance and other 4,677 8,211 16,836 26,568 Depreciation and amortization 16,611 23,164 60,623 69,919 Advisory services fee: Base advisory fee 4,030 3,539 11,587 10,592 Reimbursable expenses 3,468 3,825 10,595 10,403 Incentive fee — 476 — 746 Stock/unit-based compensation — 75 — (24) Corporate, general and administrative: Stock/unit-based compensation — — — 5 Other general and administrative 12,139 3,811 21,419 4,402 Termination fee 480,000 — 480,000 — Total operating expenses 605,317 154,720 932,489 494,983 Gain (loss) on disposition of assets and hotel properties 259,927 40,970 277,325 40,970 OPERATING INCOME (LOSS) (243,812) 29,806 (173,577) 84,440 Equity in earnings (loss) of unconsolidated entity — — (31) — Interest income 841 1,494 2,425 4,901 Other income (expense) — — — (1,250) Interest expense (14,525) (22,462) (51,383) (67,831) Amortization of loan costs (1,678) (2,726) (6,528) (7,545) Write-off of loan costs and exit fees (20) (366) (1,509) (1,833) Gain (loss) on extinguishment of debt — (1,553) — (1,553) Realized and unrealized gain (loss) on derivatives 54 (118) 337 (301) INCOME (LOSS) BEFORE INCOME TAXES (259,140) 4,075 (230,266) 9,028 Income tax (expense) benefit 9,756 648 5,858 (474) NET INCOME (LOSS) (249,384) 4,723 (224,408) 8,554 (Income) loss attributable to noncontrolling interest in consolidated entities 7 412 72 361 Net (income) loss attributable to redeemable noncontrolling interests in operating partnership 16,104 607 15,805 2,358 NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY (233,273) 5,742 (208,531) 11,273 Preferred dividends (7,594) (8,667) (23,375) (26,928) Deemed dividends on redeemable preferred stock — (5,251) (4,771) (11,086) NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (240,867) $ (8,176) $ (236,677) $ (26,741) INCOME (LOSS) PER SHARE – BASIC AND DILUTED Basic: Net income (loss) attributable to common stockholders $ (3.51) $ (0.12) $ (3.45) $ (0.40) Weighted average common shares outstanding – basic 68,679 68,219 68,598 67,419 Diluted: Net income (loss) attributable to common stockholders $ (3.51) $ (0.12) $ (3.45) $ (0.40) Weighted average common shares outstanding – diluted 68,679 68,219 68,598 67,419 Dividends declared per common share $ — $ 0.05 $ — $ 0.15 9

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES RECONCILIATION OF NET INCOME (LOSS) TO EBITDA, EBITDAre AND ADJUSTED EBITDAre (in thousands) (unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 Net income (loss) $ (249,384)$ 4,723 $ (224,408)$ 8,554 Interest expense and amortization of loan costs 16,203 25,188 57,911 75,376 Depreciation and amortization 16,611 23,164 60,623 69,919 Income tax expense (benefit) (9,756) (648) (5,858) 474 Equity in (earnings) loss of unconsolidated entity — — 31 — EBITDA (226,326) 52,427 (111,701) 154,323 (Gain) loss on disposition of assets and hotel properties (259,927) (40,970) (277,325) (40,970) EBITDAre (486,253) 11,457 (389,026) 113,353 Amortization of favorable (unfavorable) contract assets (liabilities) 36 107 250 321 Transaction and conversion costs 3,900 1,608 7,719 2,774 Write-off of loan costs and exit fees 20 366 1,509 1,833 Realized and unrealized (gain) loss on derivatives (54) 118 (337) 301 Stock/unit-based compensation — 75 — (20) Legal, advisory and settlement costs 5,866 618 7,178 (3,864) Advisory services incentive fee — 476 — 746 (Gain) loss on extinguishment of debt — 1,553 — 1,553 Other (income) expense — — — 1,250 Severance 365 — 913 — Termination fee 480,000 — 480,000 — Adjusted EBITDAre $ 3,880 $ 16,378 $ 108,206 $ 118,247 BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES RECONCILIATION OF NET INCOME (LOSS) TO FUNDS FROM OPERATIONS ("FFO") AND ADJUSTED FFO (in thousands, except per share amounts) (unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 Net income (loss) $ (249,384)$ 4,723 $ (224,408)$ 8,554 (Income) loss attributable to noncontrolling interest in consolidated entities 7 412 72 361 Net (income) loss attributable to redeemable noncontrolling interests in operating partnership16,104 607 15,805 2,358 Preferred dividends (7,594) (8,667) (23,375) (26,928) Deemed dividends on redeemable preferred stock — (5,251) (4,771) (11,086) Net income (loss) attributable to common stockholders (240,867) (8,176) (236,677) (26,741) Depreciation and amortization on real estate 16,611 22,498 60,623 67,864 Net income (loss) attributable to redeemable noncontrolling interests in operating partnership(16,104) (607) (15,805) (2,358) Equity in (earnings) loss of unconsolidated entity — — 31 — (Gain) loss on disposition of assets and hotel properties (259,927) (40,988) (277,325) (40,988) FFO available to common stockholders and OP unitholders (500,287) (27,273) (469,153) (2,223) Deemed dividends on redeemable preferred stock — 5,251 4,771 11,086 Transaction and conversion costs 3,900 1,608 7,719 2,774 Write-off of premiums, loan costs and exit fees 20 366 1,509 1,833 Unrealized (gain) loss on derivatives (53) 299 (326) 850 Stock/unit-based compensation — 75 — (20) Legal, advisory and settlement costs 5,866 618 7,178 (3,864) Interest expense accretion on refundable membership club deposits 17 135 272 421 Amortization of loan costs 1,678 2,690 6,528 7,438 Advisory services incentive fee — 476 — 746 (Gain) loss on extinguishment of debt — 1,553 — 1,553 Other (income) expense — — — 1,250 Severance 365 — 913 — Termination fee, net of related income tax benefit 469,825 — 469,825 — Adjusted FFO available to common stockholders and OP unitholders $ (18,669)$ (14,202)$ 29,236 $ 21,844 Adjusted FFO per diluted share available to common stockholders and OP unitholders $ (0.25)$ (0.19)$ 0.40 $ 0.30 Weighted average diluted shares 73,271 73,374 73,272 73,553 Net of adjustment for noncontrolling interest in consolidated entities in 2025. (1) (1) (1) 10

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES SUMMARY OF INDEBTEDNESS September 30, 2026 (dollars in thousands) (unaudited) Lender Hotels CurrentMaturity FinalMaturity Interest Rate Fixed-RateDebt Floating-RateDebt TotalDebt TTMHotel NetIncome TTM HotelNet IncomeDebt Yield ComparableTTM HotelEBITDA ComparableTTM HotelEBITDADebt Yield BAML The Ritz-Carlton LakeTahoe October 2026 January 2027 SOFR (1) +3.25% $ — $ 43,413 (2) $ 43,413 $ (7,563) (17.4)% $ 7,972 18.4 % Aareal Capital Corporation Capital Hilton December2026 December2028 SOFR (1) +3.75% — 110,600 (3) 110,600 (4,419) (4.0)% 15,388 13.9 % JPMorgan Chase See footnote March 2027 March 2030 SOFR (1) +2.83% — 209,902 (4) 209,902 1,622 0.8 % 53,277 25.4 % BAML See footnote August 2027 August 2029 SOFR (1) +4.91% — 80,499 (5) 80,499 19,964 24.8 % 18,822 23.4 % Aareal Capital Corporation Four Seasons ResortScottsdale August 2028 August 2030 SOFR (1) +3.00% — 180,000 (6) 180,000 1,428 0.8 % 26,271 14.6 % Unencumbered Hotel Cameo Beverly Hills — — — (10,638) N/A (3,310) N/A Total $ — $ 624,414 $ 624,414 $ 394 0.1 % $ 118,420 19.0 % Percentage — % 100.0 % 100.0 % Weighted average interestrate — % 7.25 % 7.25 % All indebtedness is non-recourse. SOFR rate was 3.91% at September 30, 2026. This mortgage loan has one three-month extension option subject to satisfaction of certain conditions. On October 13, 2026, we amended this mortgage loan, extending the maturity date from October 2026 to November 2026. On October 30, 2026, we refinanced this mortgage loan into a new $60.0 million mortgage loan with an additional $15.0 million available to be drawn subject to certain conditions. The new mortgage loan is interest only and bears interest at a rate of SOFR + 2.65% with a floor of 5.30%, has a three-year initial term, and two one-year extension options, subject to satisfaction of certain conditions. This mortgage loan has two one-year extension options subject to satisfaction of certain conditions. This mortgage loan has a SOFR floor of 2.00%. This mortgage loan has three one-year extension options subject to satisfaction of certain conditions. This mortgage loan is secured by The Ritz-Carlton Reserve Dorado Beach, Sofitel Chicago Magnificent Mile, and The Notary Hotel. This mortgage loan has three one-year extension options subject to satisfaction of certain conditions. The first one-year extension option was exercised in August 2026. This mortgage loan is secured by The Ritz-Carlton St. Thomas. This mortgage loan has two one-year extension options subject to satisfaction of certain conditions. This mortgage loan has a SOFR floor of 1.00%. As of September 30, 2026, this property was held for sale. The sale of the property closed on October 28, 2026. The weighted average interest rates are adjusted for in-the-money interest rate caps. The final maturity date assumes all available extension options will be exercised. See Exhibit 1 for reconciliation of net income (loss) to hotel EBITDA. (8) (9) (7) (1) (2) (3) (4) (5) (6) (7) (8) (9) 11

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES INDEBTEDNESS BY MATURITY ASSUMING EXTENSION OPTIONS ARE EXERCISED September 30, 2026 (dollars in thousands) (unaudited) Lender Hotels 2026 2027 2028 2029 2030 Thereafter Total BAML The Ritz-Carlton Lake Tahoe. Seefootnote 3. $ — $ 43,413 $ — $ — $ — $ — $ 43,413 Aareal Capital Corporation Capital Hilton — — 106,600 — — — 106,600 BAML See footnote 1 — — — 80,499 — — 80,499 JPMorgan Chase See footnote 2 — — — — 209,902 — 209,902 Aareal Capital Corporation Four Seasons Resort Scottsdale. Seefootnote 4. — — — — 174,000 — 174,000 Due at maturity $ — $ 43,413 $ 106,600 $ 80,499 $ 383,902 $ — $ 614,414 Amortization payments: Aareal Capital Corporation Capital Hilton — 2,000 2,000 — — — 4,000 Aareal Capital Corporation Four Seasons Resort Scottsdale — — 750 3,000 2,250 — 6,000 Total indebtedness $ — $ 45,413 $ 109,350 $ 83,499 $ 386,152 $ — $ 624,414 This mortgage loan is secured by The Ritz-Carlton St. Thomas. This mortgage loan is secured by The Ritz-Carlton Reserve Dorado Beach, Sofitel Chicago Magnificent Mile and The Notary Hotel. On October 13, 2026, we amended this mortgage loan, extending the maturity date from October 2026 to November 2026. On October 30, 2026, we refinanced this mortgage loan into a new $60.0 million mortgage loan with an additional $15.0 million available to be drawn subject to certain conditions. The new mortgage loan is interest only and bears interest at a rate of SOFR + 2.65% with a floor of 5.30%, has a three-year initial term, and two one-year extension options, subject to satisfaction of certain conditions. As of September 30, 2026, this property was held for sale. The sale of the property closed on October 28, 2026. (1) (2) (3) (4) 12

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES KEY PERFORMANCE INDICATORS (unaudited) ALL HOTELS: Three Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance Rooms revenue (in thousands)$ 64,511 $ (4,625) $ 59,886 $ 86,955 $ (34,536) $ 52,419 (25.81)% 14.24 % RevPAR $ 290.72 $ (415.41) $ 284.13 $ 261.88 $ (285.64) $ 248.27 11.01 % 14.44 % Occupancy 68.49 % (79.81)% 67.89 % 65.24 % (66.63)% 64.45 % 4.98 % 5.34 % ADR $ 424.46 $ (520.51) $ 418.50 $ 401.39 $ (428.71) $ 385.22 5.75 % 8.64 % ALL HOTELS: Nine Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance Rooms revenue (inthousands) $ 300,086 $ (70,773) $ 229,313 $ 337,095 $ (128,495) $ 208,600 (10.98)% 9.93 % RevPAR $ 391.27 $ (501.86) $ 366.36 $ 328.78 $ (322.25) $ 332.94 19.01 % 10.04 % Occupancy 67.89 % (71.02)% 67.19 % 67.26 % (67.95)% 66.83 % 0.94 % 0.54 % ADR $ 576.33 $ (706.65) $ 545.30 $ 488.80 $ (474.25) $ 498.21 17.91 % 9.45 % NOTES: (1) The above comparable information assumes the eight hotel properties owned and included in the Company's operations at September 30, 2026, were owned as of the beginning of each of the periods presented. (2) Rooms revenue, RevPAR, occupancy and ADR include the full results reported to us by our hotel managers for residences that we do not own but that are managed in connection with The Ritz-Carlton Lake Tahoe and The Ritz-Carlton Reserve Dorado Beach hotels. 13

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES HOTEL NET INCOME (LOSS) & EBITDA (dollars in thousands) (unaudited) ALL HOTELS: Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 % Variance 2026 2025 % Variance Total hotel revenue $ 102,697 $ 144,585 (28.97)% $ 486,459 $ 542,935 (10.40)% Non-comparable adjustments (7,461) (57,893) (128,854) (211,548) Comparable total hotel revenue $ 95,236 $ 86,692 9.86 % $ 357,605 $ 331,387 7.91 % Hotel net income (loss) $ 258,085 $ 33,765 664.36 % $ 337,071 $ 86,576 289.34 % Non-comparable adjustments (259,857) (45,655) (307,022) (73,880) Comparable hotel net income (loss) $ (1,772) $ (11,890) 85.10 % $ 30,049 $ 12,696 136.68 % Hotel net income (loss) margin 251.31 % 23.35 % 227.96 % 69.29 % 15.95 % 53.34 % Comparable hotel net income margin (1.86)% (13.72)% 11.86 % 8.40 % 3.83 % 4.57 % Hotel EBITDA $ 14,696 $ 25,562 (42.51)% $ 138,111 $ 144,096 (4.15)% Non-comparable adjustments (1,783) (14,865) (45,148) (63,175) Comparable hotel EBITDA $ 12,913 $ 10,697 20.72 % $ 92,963 $ 80,921 14.88 % Hotel EBITDA margin 14.31 % 17.68 % (3.37)% 28.39 % 26.54 % 1.85 % Comparable hotel EBITDA margin 13.56 % 12.34 % 1.22 % 26.00 % 24.42 % 1.58 % Hotel net income (loss) adjustments attributable to consolidated noncontrollinginterests $ — $ (452) 100.00 % $ — $ (439) 100.00 % Hotel net income (loss) attributable to the Company and OP unitholders $ 258,085 $ 34,217 654.27 % $ 337,071 $ 87,015 287.37 % Comparable hotel net income (loss) attributable to the Company and OPunitholders $ (1,772) $ (11,141) 84.09 % $ 30,049 $ 13,404 124.18 % Hotel EBITDA adjustments attributable to consolidated noncontrolling interests$ — $ 937 (100.00)% $ — $ 3,737 (100.00)% Hotel EBITDA attributable to the Company and OP unitholders $ 14,696 $ 24,625 (40.32)% $ 138,111 $ 140,359 (1.60)% Comparable hotel EBITDA attributable to the Company and OP unitholders $ 12,913 $ 10,106 27.77 % $ 92,963 $ 77,514 19.93 % NOTES: (1) The above comparable information assumes the eight hotel properties owned and included in the Company's operations at September 30, 2026, were owned as of the beginning of each of the periods presented. (2) Total hotel revenue includes the full results reported to us by our hotel managers for residences that we do not own but that are managed in connection with The Ritz-Carlton Lake Tahoe and The Ritz-Carlton Reserve Dorado Beach hotels. (3) See Exhibit 1 for reconciliation of net income (loss) to hotel EBITDA. 14

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES SELECTED FINANCIAL AND OPERATING INFORMATION BY PROPERTY (in thousands, except operating information) (unaudited) Three Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance CAPITAL HILTON WASHINGTON D.C. Selected Financial Information: Rooms revenue $ 9,387 $ — $ 9,387 $ 8,631 $ — $ 8,631 8.76 % 8.76 % Total hotel revenue $ 13,308 $ — $ 13,308 $ 14,062 $ — $ 14,062 (5.36)% (5.36)% Hotel net income (loss) $ (2,937) $ — $ (2,937) $ (2,996) $ — $ (2,996) 1.97 % 1.97 % Hotel net income (loss) margin (22.07)% (22.07)% (21.31)% (21.31)% (0.76)% (0.76)% Hotel EBITDA $ 1,876 $ — $ 1,876 $ 2,363 $ — $ 2,363 (20.61)% (20.61)% Hotel EBITDA margin 14.10 % 14.10 % 16.80 % 16.80 % (2.70)% (2.70)% Selected Operating Information: RevPAR $ 182.52 $ — $ 182.52 $ 167.83 $ — $ 167.83 8.75 % 8.75 % Occupancy 72.80 % — % 72.80 % 73.20 % — % 73.20 % (0.55)% (0.55)% ADR $ 250.70 $ — $ 250.70 $ 229.28 $ — $ 229.28 9.34 % 9.34 % HILTON LA JOLLA TORREY PINES Selected Financial Information: Rooms revenue $ — $ — $ — $ — $ — $ — — % — % Total hotel revenue $ — $ — $ — $ — $ — $ — — % — % Hotel net income (loss) $ 6 $ (6) $ — $ 1,190 $ (1,190) $ — (99.50)% — % Hotel net income (loss) margin — % — % — % — % — % — % Hotel EBITDA $ 6 $ (6) $ — $ 1,386 $ (1,386) $ — (99.57)% — % Hotel EBITDA margin — % — % — % — % — % — % Selected Operating Information: RevPAR $ — $ — $ — $ — $ — $ — — % — % Occupancy — % — % — % — % — % — % — % — % ADR $ — $ — $ — $ — $ — $ — — % — % SOFITEL CHICAGO MAGNIFICENT MILE Selected Financial Information: Rooms revenue $ 10,551 $ — $ 10,551 $ 8,940 $ — $ 8,940 18.02 % 18.02 % Total hotel revenue $ 13,566 $ — $ 13,566 $ 11,587 $ — $ 11,587 17.08 % 17.08 % Hotel net income (loss) $ 3,472 $ — $ 3,472 $ 1,512 $ — $ 1,512 129.63 % 129.63 % Hotel net income (loss) margin 25.59 % 25.59 % 13.05 % 13.05 % 12.54 % 12.54 % Hotel EBITDA $ 4,740 $ — $ 4,740 $ 2,706 $ — $ 2,706 75.17 % 75.17 % Hotel EBITDA margin 34.94 % 34.94 % 23.35 % 23.35 % 11.59 % 11.59 % Selected Operating Information: RevPAR $ 276.34 $ — $ 276.34 $ 234.16 $ — $ 234.16 18.01 % 18.01 % Occupancy 81.43 % — % 81.43 % 79.53 % — % 79.53 % 2.39 % 2.39 % ADR $ 339.35 $ — $ 339.35 $ 294.42 $ — $ 294.42 15.26 % 15.26 % BARDESSONO HOTEL AND SPA Selected Financial Information: Rooms revenue $ 719 $ (719) $ — $ 4,843 $ (4,843) $ — (85.15)% — % Total hotel revenue $ 923 $ (923) $ — $ 6,433 $ (6,433) $ — (85.65)% — % Hotel net income (loss) $ 13,469 $ (13,469) $ — $ 1,167 $ (1,167) $ — 1,054.16 % — % Hotel net income (loss) margin 1,459.26 % — % 18.14 % — % 1,441.12 % — % Hotel EBITDA $ (19) $ 19 $ — $ 2,058 $ (2,058) $ — (100.92)% — % Hotel EBITDA margin (2.06)% — % 31.99 % — % (34.05)% — % Selected Operating Information: RevPAR $ 850.67 $ 850.67 $ — $ 809.88 $ 809.88 $ — 5.04 % — % Occupancy 83.91 % 83.91 % — % 79.03 % 79.03 % — % 6.17 % — % ADR $ 1,013.84 $ 1,013.84 $ — $ 1,024.77 $ 1,024.77 $ — (1.07)% — % 15

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Three Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance PIER HOUSE RESORT & SPA Selected Financial Information: Rooms revenue $ 2,293 $ (2,293) $ — $ 3,782 $ (3,782) $ — (39.37)% — % Total hotel revenue $ 3,235 $ (3,235) $ — $ 5,418 $ (5,418) $ — (40.29)% — % Hotel net income (loss) $ 109,568 $ (109,568) $ — $ 1,140 $ (1,140) $ — 9,511.23 % — % Hotel net income (loss) margin 3,386.96 % — % 21.04 % — % 3,365.92 % — % Hotel EBITDA $ 1,016 $ (1,016) $ — $ 1,586 $ (1,586) $ — (35.94)% — % Hotel EBITDA margin 31.41 % — % 29.27 % — % 2.14 % — % Selected Operating Information: RevPAR $ 384.49 $ 384.49 $ — $ 289.50 $ 289.50 $ — 32.81 % — % Occupancy 88.65 % 88.65 % — % 69.40 % 69.40 % — % 27.74 % — % ADR $ 433.72 $ 433.72 $ — $ 417.11 $ 417.11 $ — 3.98 % — % HOTEL YOUNTVILLE Selected Financial Information: Rooms revenue $ 331 $ (331) $ — $ 3,181 $ (3,181) $ — (89.59)% — % Total hotel revenue $ 432 $ (432) $ — $ 4,061 $ (4,061) $ — (89.36)% — % Hotel net income (loss) $ (6,495) $ 6,495 $ — $ 537 $ (537) $ — (1,309.50)% — % Hotel net income (loss) margin (1,503.47)% — % 13.22 % — % (1,516.69)% — % Hotel EBITDA $ (60) $ 60 $ — $ 1,205 $ (1,205) $ — (104.98)% — % Hotel EBITDA margin (13.89)% — % 29.67 % — % (43.56)% — % Selected Operating Information: RevPAR $ 318.17 $ 318.17 $ — $ 432.15 $ 432.15 $ — (26.38)% — % Occupancy 53.46 % 53.46 % — % 66.28 % 66.28 % — % (19.34)% — % ADR $ 595.14 $ 595.14 $ — $ 652.04 $ 652.04 $ — (8.73)% — % PARK HYATT BEAVER CREEK RESORT &SPA Selected Financial Information: Rooms revenue $ — $ — $ — $ 2,915 $ (2,915) $ — (100.00)% — % Total hotel revenue $ 1 $ (1) $ — $ 9,438 $ (9,438) $ — (99.99)% — % Hotel net income (loss) $ (103) $ 103 $ — $ (1,134) $ 1,134 $ — 90.92 % — % Hotel net income (loss) margin (10,300.00)% — % (12.02)% — % (10,287.98)% — % Hotel EBITDA $ 356 $ (356) $ — $ 2,042 $ (2,042) $ — (82.57)% — % Hotel EBITDA margin 35,600.00 % — % 21.64 % — % 35,578.36 % — % Selected Operating Information: RevPAR $ — $ — $ — $ 164.20 $ 164.20 $ — — % — % Occupancy — % — % — % 45.53 % 45.53 % — % — % — % ADR $ — $ — $ — $ 360.60 $ 360.60 $ — — % — % THE NOTARY HOTEL Selected Financial Information: Rooms revenue $ 8,099 $ — $ 8,099 $ 6,050 $ — $ 6,050 33.87 % 33.87 % Total hotel revenue $ 10,941 $ — $ 10,941 $ 8,109 $ — $ 8,109 34.92 % 34.92 % Hotel net income (loss) $ 2,656 $ — $ 2,656 $ 896 $ — $ 896 196.43 % 196.43 % Hotel net income (loss) margin 24.28 % 24.28 % 11.05 % 11.05 % 13.23 % 13.23 % Hotel EBITDA $ 3,878 $ — $ 3,878 $ 2,248 $ — $ 2,248 72.51 % 72.51 % Hotel EBITDA margin 35.44 % 35.44 % 27.72 % 27.72 % 7.72 % 7.72 % Selected Operating Information: RevPAR $ 176.42 $ — $ 176.42 $ 131.78 $ — $ 131.78 33.87 % 33.87 % Occupancy 71.42 % — % 71.42 % 61.59 % — % 61.59 % 15.96 % 15.96 % ADR $ 247.01 $ — $ 247.01 $ 213.96 $ — $ 213.96 15.45 % 15.45 % 16

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Three Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance THE CLANCY Selected Financial Information: Rooms revenue $ — $ — $ — $ 8,881 $ (8,881) $ — (100.00)% — % Total hotel revenue $ — $ — $ — $ 10,504 $ (10,504) $ — (100.00)% — % Hotel net income (loss) $ (57) $ 57 $ — $ 853 $ (853) $ — (106.68)% — % Hotel net income (loss) margin — % — % 8.12 % — % (8.12)% — % Hotel EBITDA $ — $ — $ — $ 2,156 $ (2,156) $ — (100.00)% — % Hotel EBITDA margin — % — % 20.53 % — % (20.53)% — % Selected Operating Information: RevPAR $ — $ — $ — $ 235.44 $ 235.44 $ — (100.00)% — % Occupancy — % — % — % 74.91 % 74.91 % — % (100.00)% — % ADR $ — $ — $ — $ 314.30 $ 314.30 $ — (100.00)% — % THE RITZ-CARLTON SARASOTA Selected Financial Information: Rooms revenue $ 1,282 $ (1,282) $ — $ 5,952 $ (5,952) $ — (78.46)% — % Total hotel revenue $ 2,870 $ (2,870) $ — $ 15,906 $ (15,906) $ — (81.96)% — % Hotel net income (loss) $ 143,447 $ (143,447) $ — $ (1,211) $ 1,211 $ — 11,945.33 % — % Hotel net income (loss) margin 4,998.15 % — % (7.61)% — % 5,005.76 % — % Hotel EBITDA $ 462 $ (462) $ — $ 1,673 $ (1,673) $ — (72.38)% — % Hotel EBITDA margin 16.10 % — % 10.52 % — % 5.58 % — % Selected Operating Information: RevPAR $ 390.39 $ 390.39 $ — $ 234.39 $ 234.39 $ — 66.56 % — % Occupancy 71.05 % 71.05 % — % 53.09 % 53.09 % — % 33.83 % — % ADR $ 549.46 $ 549.46 $ — $ 441.52 $ 441.52 $ — 24.45 % — % THE RITZ-CARLTON LAKE TAHOE Selected Financial Information: Rooms revenue $ 8,295 $ — $ 8,295 $ 7,738 $ — $ 7,738 7.20 % 7.20 % Total hotel revenue $ 16,540 $ — $ 16,540 $ 16,254 $ — $ 16,254 1.76 % 1.76 % Hotel net income (loss) $ 230 $ — $ 230 $ (48) $ — $ (48) 579.17 % 579.17 % Hotel net income (loss) margin 1.39 % 1.39 % (0.30)% (0.30)% 1.69 % 1.69 % Hotel EBITDA $ 4,060 $ — $ 4,060 $ 3,641 $ — $ 3,641 11.51 % 11.51 % Hotel EBITDA margin 24.55 % 24.55 % 22.40 % 22.40 % 2.15 % 2.15 % Selected Operating Information: RevPAR $ 492.72 $ — $ 492.72 $ 459.61 $ — $ 459.61 7.20 % 7.20 % Occupancy 63.63 % — % 63.63 % 67.30 % — % 67.30 % (5.45)% (5.45)% ADR $ 774.40 $ — $ 774.40 $ 682.91 $ — $ 682.91 13.40 % 13.40 % MARRIOTT SEATTLE WATERFRONT Selected Financial Information: Rooms revenue $ — $ — $ — $ 4,982 $ (4,982) $ — (100.00)% — % Total hotel revenue $ — $ — $ — $ 6,133 $ (6,133) $ — (100.00)% — % Hotel net income (loss) $ 22 $ (22) $ — $ 43,113 $ (43,113) $ — (99.95)% — % Hotel net income (loss) margin — % — % 702.97 % — % (702.97)% — % Hotel EBITDA $ 22 $ (22) $ — $ 2,759 $ (2,759) $ — (99.20)% — % Hotel EBITDA margin — % — % 44.99 % — % (44.99)% — % Selected Operating Information: RevPAR $ — $ — $ — $ 365.41 $ 365.41 $ — (100.00)% — % Occupancy — % — % — % 88.50 % 88.50 % — % (100.00)% — % ADR $ — $ — $ — $ 412.89 $ 412.89 $ — (100.00)% — % 17

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Three Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance THE RITZ-CARLTON ST. THOMAS Selected Financial Information: Rooms revenue $ 5,959 $ — $ 5,959 $ 6,117 $ — $ 6,117 (2.58)% (2.58)% Total hotel revenue $ 11,264 $ — $ 11,264 $ 10,241 $ — $ 10,241 9.99 % 9.99 % Hotel net income (loss) $ 5,682 $ — $ 5,682 $ (1,731) $ — $ (1,731) 428.25 % 428.25 % Hotel net income (loss) margin 50.44 % 50.44 % (16.90)% (16.90)% 67.34 % 67.34 % Hotel EBITDA $ (913) $ — $ (913) $ (458) $ — $ (458) (99.34)% (99.34)% Hotel EBITDA margin (8.11)% (8.11)% (4.47)% (4.47)% (3.64)% (3.64)% Selected Operating Information: RevPAR $ 359.87 $ — $ 359.87 $ 369.38 $ — $ 369.38 (2.57)% (2.57)% Occupancy 47.71 % — % 47.71 % 46.55 % — % 46.55 % 2.49 % 2.49 % ADR $ 754.36 $ — $ 754.36 $ 793.47 $ — $ 793.47 (4.93)% (4.93)% CAMEO BEVERLY HILLS Selected Financial Information: Rooms revenue $ 3,327 $ — $ 3,327 $ 1,872 $ — $ 1,872 77.72 % 77.72 % Total hotel revenue $ 3,975 $ — $ 3,975 $ 2,365 $ — $ 2,365 68.08 % 68.08 % Hotel net income (loss) $ (2,050) $ — $ (2,050) $ (2,251) $ — $ (2,251) 8.93 % 8.93 % Hotel net income (loss) margin (51.57)% (51.57)% (95.18)% (95.18)% 43.61 % 43.61 % Hotel EBITDA $ (359) $ — $ (359) $ (1,107) $ — $ (1,107) 67.57 % 67.57 % Hotel EBITDA margin (9.03)% (9.03)% (46.81)% (46.81)% 37.78 % 37.78 % Selected Operating Information: RevPAR $ 260.14 $ — $ 260.14 $ 142.30 $ — $ 142.30 82.81 % 82.81 % Occupancy 75.74 % — % 75.74 % 52.91 % — % 52.91 % 43.15 % 43.15 % ADR $ 343.45 $ — $ 343.45 $ 268.94 $ — $ 268.94 27.71 % 27.71 % THE RITZ-CARLTON RESERVE DORADO BEACH Selected Financial Information: Rooms revenue $ 9,995 $ — $ 9,995 $ 8,735 $ — $ 8,735 14.42 % 14.42 % Total hotel revenue $ 16,301 $ — $ 16,301 $ 14,677 $ — $ 14,677 11.06 % 11.06 % Hotel net income (loss) $ (1,543) $ — $ (1,543) $ (1,650) $ — $ (1,650) 6.48 % 6.48 % Hotel net income (loss) margin (9.47)% (9.47)% (11.24)% (11.24)% 1.77 % 1.77 % Hotel EBITDA $ 720 $ — $ 720 $ 348 $ — $ 348 106.90 % 106.90 % Hotel EBITDA margin 4.42 % 4.42 % 2.37 % 2.37 % 2.05 % 2.05 % Selected Operating Information: RevPAR $ 1,024.93 $ — $ 1,024.93 $ 895.75 $ — $ 895.75 14.42 % 14.42 % Occupancy 57.10 % — % 57.10 % 57.05 % — % 57.05 % 0.09 % 0.09 % ADR $ 1,795.10 $ — $ 1,795.10 $ 1,569.98 $ — $ 1,569.98 14.34 % 14.34 % FOUR SEASONS RESORT SCOTTSDALE Selected Financial Information: Rooms revenue $ 4,273 $ — $ 4,273 $ 4,336 $ — $ 4,336 (1.45)% (1.45)% Total hotel revenue $ 9,341 $ — $ 9,341 $ 9,397 $ — $ 9,397 (0.60)% (0.60)% Hotel net income (loss) $ (7,282) $ — $ (7,282) $ (5,622) $ — $ (5,622) (29.53)% (29.53)% Hotel net income (loss) margin (77.96)% (77.96)% (59.83)% (59.83)% (18.13)% (18.13)% Hotel EBITDA $ (1,089) $ — $ (1,089) $ 956 $ — $ 956 (213.91)% (213.91)% Hotel EBITDA margin (11.66)% (11.66)% 10.17 % 10.17 % (21.83)% (21.83)% Selected Operating Information: RevPAR $ 221.18 $ — $ 221.18 $ 224.43 $ — $ 224.43 (1.45)% (1.45)% Occupancy 40.94 % — % 40.94 % 42.57 % — % 42.57 % (3.83)% (3.83)% ADR $ 540.22 $ — $ 540.22 $ 527.18 $ — $ 527.18 2.47 % 2.47 % 18

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Three Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance RESORT PROPERTIES TOTAL Selected Financial Information: Rooms revenue $ 33,147 $ (4,625) $ 28,522 $ 47,599 $ (20,673) $ 26,926 (30.36)% 5.93 % Total hotel revenue $ 60,907 $ (7,461) $ 53,446 $ 91,825 $ (41,256) $ 50,569 (33.67)% 5.69 % Hotel net income (loss) $ 256,979 $ (259,892) $ (2,913) $ (7,362) $ (1,689) $ (9,051) 3,590.61 % 67.82 % Hotel net income (loss) margin 421.92 % (5.45)% (8.02)% (17.90)% 429.94 % 12.45 % Hotel EBITDA $ 4,539 $ (1,761) $ 2,778 $ 14,437 $ (9,950) $ 4,487 (68.56)% (38.09)% Hotel EBITDA margin 7.45 % 5.20 % 15.72 % 8.87 % (8.27)% (3.67)% Selected Operating Information: RevPAR $ 450.37 $ 415.41 $ 456.60 $ 360.55 $ 297.23 $ 431.04 24.91 % 5.93 % Occupancy 55.67 % (79.81)% 51.37 % 55.34 % 57.85 % 52.55 % 0.60 % (2.25)% ADR $ 808.97 $ (520.51) $ 888.85 $ 651.46 $ 513.79 $ 820.20 24.18 % 8.37 % URBAN PROPERTIES TOTAL Selected Financial Information: Rooms revenue $ 31,364 $ — $ 31,364 $ 39,356 $ (13,863) $ 25,493 (20.31)% 23.03 % Total hotel revenue $ 41,790 $ — $ 41,790 $ 52,760 $ (16,637) $ 36,123 (20.79)% 15.69 % Hotel net income (loss) $ 1,106 $ 35 $ 1,141 $ 41,127 $ (43,966) $ (2,839) (97.31)% 140.19 % Hotel net income (loss) margin 2.65 % 2.73 % 77.95 % (7.86)% (75.30)% 10.59 % Hotel EBITDA $ 10,157 $ (22) $ 10,135 $ 11,125 $ (4,915) $ 6,210 (8.70)% 63.20 % Hotel EBITDA margin 24.30 % 24.25 % 21.09 % 17.19 % 3.21 % 7.06 % Selected Operating Information: RevPAR $ 211.48 $ — $ 211.48 $ 196.76 $ 269.95 $ 171.47 7.48 % 23.33 % Occupancy 74.85 % — % 74.85 % 71.78 % 78.52 % 69.45 % 4.28 % 7.78 % ADR $ 282.53 $ — $ 282.53 $ 274.13 $ 343.81 $ 246.92 3.06 % 14.42 % BRAEMAR PROPERTIES TOTAL Selected Financial Information: Rooms revenue $ 64,511 $ (4,625) $ 59,886 $ 86,955 $ (34,536) $ 52,419 (25.81)% 14.24 % Total hotel revenue $ 102,697 $ (7,461) $ 95,236 $ 144,585 $ (57,893) $ 86,692 (28.97)% 9.86 % Hotel net income (loss) $ 258,085 $ (259,857) $ (1,772) $ 33,765 $ (45,655) $ (11,890) 664.36 % 85.10 % Hotel net income (loss) margin 251.31 % (1.86)% 23.35 % (13.72)% 227.96 % 11.86 % Hotel EBITDA $ 14,696 $ (1,783) $ 12,913 $ 25,562 $ (14,865) $ 10,697 (42.51)% 20.72 % Hotel EBITDA margin 14.31 % 13.56 % 17.68 % 12.34 % (3.37)% 1.22 % Selected Operating Information: RevPAR $ 290.72 $ (415.41) $ 284.13 $ 261.88 $ (285.64) $ 248.27 11.01 % 14.44 % Occupancy 68.49 % (79.81)% 67.89 % 65.24 % (66.63)% 64.45 % 4.98 % 5.34 % ADR $ 424.46 $ (520.51) $ 418.50 $ 401.39 $ (428.71) $ 385.22 5.75 % 8.64 % NOTES: (1) The above comparable information assumes the eight hotel properties owned and included in the Company's operations at September 30, 2026, were owned as of the beginning of each of the periods presented. (2) Rooms revenue, total hotel revenue, RevPAR, occupancy and ADR include the full results reported to us by our hotel managers for residences that we do not own but that are managed in connection with the Ritz-Carlton Lake Tahoe and the Ritz-Carlton Reserve Dorado Beach hotels. (3) Resort properties include: Bardessono Hotel and Spa, Pier House Resort & Spa, Hotel Yountville, The Ritz-Carlton Sarasota, The Ritz-Carlton Lake Tahoe, The Ritz-Carlton St. Thomas, The Ritz- Carlton Reserve Dorado Beach, Four Seasons Resort Scottsdale. (4) Urban properties include: Capital Hilton Washington D.C., Sofitel Chicago Magnificent Mile, The Notary Hotel, Cameo Beverly Hills. (5) See Exhibit 1 for reconciliation of net income (loss) to hotel EBITDA. 19

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES SELECTED FINANCIAL AND OPERATING INFORMATION BY PROPERTY (in thousands, except operating information) (unaudited) Nine Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance CAPITAL HILTON WASHINGTON D.C. Selected Financial Information: Rooms revenue $ 31,910 $ — $ 31,910 $ 32,255 $ — $ 32,255 (1.07)% (1.07)% Total hotel revenue $ 48,410 $ — $ 48,410 $ 49,814 $ — $ 49,814 (2.82)% (2.82)% Hotel net income (loss) $ (2,529) $ — $ (2,529) $ (2,832) $ — $ (2,832) 10.70 % 10.70 % Hotel net income (loss) margin (5.22)% (5.22)% (5.69)% (5.69)% 0.47 % 0.47 % Hotel EBITDA $ 12,156 $ — $ 12,156 $ 13,630 $ — $ 13,630 (10.81)% (10.81)% Hotel EBITDA margin 25.11 % 25.11 % 27.36 % 27.36 % (2.25)% (2.25)% Selected Operating Information: RevPAR $ 209.10 $ — $ 209.10 $ 211.36 $ — $ 211.36 (1.07)% (1.07)% Occupancy 75.69 % — % 75.69 % 76.21 % — % 76.21 % (0.68)% (0.68)% ADR $ 276.24 $ — $ 276.24 $ 277.33 $ — $ 277.33 (0.39)% (0.39)% HILTON LA JOLLA TORREY PINES Selected Financial Information: Rooms revenue $ — $ — $ — $ — $ — $ — — % — % Total hotel revenue $ — $ — $ — $ — $ — $ — — % — % Hotel net income (loss) $ 6 $ (6) $ — $ 1,076 $ (1,076) $ — (99.44)% — % Hotel net income (loss) margin — % — % — % — % — % — % Hotel EBITDA $ 6 $ (6) $ — $ 1,316 $ (1,316) $ — (99.54)% — % Hotel EBITDA margin — % — % — % — % — % — % Selected Operating Information: RevPAR $ — $ — $ — $ — $ — $ — — % — % Occupancy — % — % — % — % — % — % — % — % ADR $ — $ — $ — $ — $ — $ — — % — % SOFITEL CHICAGO MAGNIFICENT MILE Selected Financial Information: Rooms revenue $ 23,190 $ — $ 23,190 $ 20,587 $ — $ 20,587 12.64 % 12.64 % Total hotel revenue $ 30,307 $ — $ 30,307 $ 27,525 $ — $ 27,525 10.11 % 10.11 % Hotel net income (loss) $ 6,303 $ — $ 6,303 $ 1,727 $ — $ 1,727 264.97 % 264.97 % Hotel net income (loss) margin 20.80 % 20.80 % 6.27 % 6.27 % 14.53 % 14.53 % Hotel EBITDA $ 9,947 $ — $ 9,947 $ 5,214 $ — $ 5,214 90.77 % 90.77 % Hotel EBITDA margin 32.82 % 32.82 % 18.94 % 18.94 % 13.88 % 13.88 % Selected Operating Information: RevPAR $ 204.68 $ — $ 204.68 $ 181.71 $ — $ 181.71 12.64 % 12.64 % Occupancy 70.01 % — % 70.01 % 69.30 % — % 69.30 % 1.02 % 1.02 % ADR $ 292.35 $ — $ 292.35 $ 262.22 $ — $ 262.22 11.49 % 11.49 % BARDESSONO HOTEL AND SPA Selected Financial Information: Rooms revenue $ 7,955 $ (7,955) $ — $ 11,411 $ (11,411) $ — (30.29)% — % Total hotel revenue $ 11,009 $ (11,009) $ — $ 15,644 $ (15,644) $ — (29.63)% — % Hotel net income (loss) $ 14,031 $ (14,031) $ — $ 898 $ (898) $ — 1,462.47 % — % Hotel net income (loss) margin 127.45 % — % 5.74 % — % 121.71 % — % Hotel EBITDA $ 2,342 $ (2,342) $ — $ 3,567 $ (3,567) $ — (34.34)% — % Hotel EBITDA margin 21.27 % — % 22.80 % — % (1.53)% — % Selected Operating Information: RevPAR $ 630.88 $ 630.88 $ — $ 643.04 $ 643.04 $ — (1.89)% — % Occupancy 59.85 % 59.85 % — % 66.64 % 66.64 % — % (10.19)% — % ADR $ 1,054.11 $ 1,054.11 $ — $ 964.97 $ 964.97 $ — 9.24 % — % 20

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Nine Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance PIER HOUSE RESORT & SPA Selected Financial Information: Rooms revenue $ 17,198 $ (17,198) $ — $ 17,254 $ (17,254) $ — (0.32)% — % Total hotel revenue $ 22,609 $ (22,609) $ — $ 22,835 $ (22,835) $ — (0.99)% — % Hotel net income (loss) $ 119,531 $ (119,531) $ — $ 9,183 $ (9,183) $ — 1,201.66 % — % Hotel net income (loss) margin 528.69 % — % 40.21 % — % 488.48 % — % Hotel EBITDA $ 11,728 $ (11,728) $ — $ 10,542 $ (10,542) $ — 11.25 % — % Hotel EBITDA margin 51.87 % — % 46.17 % — % 5.70 % — % Selected Operating Information: RevPAR $ 543.11 $ 543.11 $ — $ 445.08 $ 445.08 $ — 22.03 % — % Occupancy 84.72 % 84.72 % — % 73.51 % 73.51 % — % 15.25 % — % ADR $ 641.06 $ 641.06 $ — $ 605.48 $ 605.48 $ — 5.88 % — % HOTEL YOUNTVILLE Selected Financial Information: Rooms revenue $ 5,196 $ (5,196) $ — $ 7,577 $ (7,577) $ — (31.42)% — % Total hotel revenue $ 6,923 $ (6,923) $ — $ 10,098 $ (10,098) $ — (31.44)% — % Hotel net income (loss) $ (6,589) $ 6,589 $ — $ 258 $ (258) $ — (2,653.88)% — % Hotel net income (loss) margin (95.18)% — % 2.55 % — % (97.73)% — % Hotel EBITDA $ 1,381 $ (1,381) $ — $ 2,092 $ (2,092) $ — (33.99)% — % Hotel EBITDA margin 19.95 % — % 20.72 % — % (0.77)% — % Selected Operating Information: RevPAR $ 334.79 $ 334.79 $ — $ 346.91 $ 346.91 $ — (3.49)% — % Occupancy 50.25 % 50.25 % — % 54.78 % 54.78 % — % (8.27)% — % ADR $ 666.22 $ 666.22 $ — $ 633.34 $ 633.34 $ — 5.19 % — % PARK HYATT BEAVER CREEK RESORT &SPA Selected Financial Information: Rooms revenue $ 13,801 $ (13,801) $ — $ 18,210 $ (18,210) $ — (24.21)% — % Total hotel revenue $ 24,504 $ (24,504) $ — $ 36,356 $ (36,356) $ — (32.60)% — % Hotel net income (loss) $ 20,147 $ (20,147) $ — $ 1,251 $ (1,251) $ — 1,510.47 % — % Hotel net income (loss) margin 82.22 % — % 3.44 % — % 78.78 % — % Hotel EBITDA $ 8,810 $ (8,810) $ — $ 10,117 $ (10,117) $ — (12.92)% — % Hotel EBITDA margin 35.95 % — % 27.83 % — % 8.12 % — % Selected Operating Information: RevPAR $ 493.15 $ 493.15 $ — $ 345.60 $ 345.60 $ — 42.69 % — % Occupancy 57.77 % 57.77 % — % 50.80 % 50.80 % — % 13.72 % — % ADR $ 853.69 $ 853.69 $ — $ 680.27 $ 680.27 $ — 25.49 % — % THE NOTARY HOTEL Selected Financial Information: Rooms revenue $ 23,497 $ — $ 23,497 $ 20,085 $ — $ 20,085 16.99 % 16.99 % Total hotel revenue $ 31,581 $ — $ 31,581 $ 26,747 $ — $ 26,747 18.07 % 18.07 % Hotel net income (loss) $ 6,780 $ — $ 6,780 $ 4,109 $ — $ 4,109 65.00 % 65.00 % Hotel net income (loss) margin 21.47 % 21.47 % 15.36 % 15.36 % 6.11 % 6.11 % Hotel EBITDA $ 10,684 $ — $ 10,684 $ 8,093 $ — $ 8,093 32.02 % 32.02 % Hotel EBITDA margin 33.83 % 33.83 % 30.26 % 30.26 % 3.57 % 3.57 % Selected Operating Information: RevPAR $ 172.48 $ — $ 172.48 $ 147.44 $ — $ 147.44 16.98 % 16.98 % Occupancy 68.22 % — % 68.22 % 65.12 % — % 65.12 % 4.76 % 4.76 % ADR $ 252.85 $ — $ 252.85 $ 226.42 $ — $ 226.42 11.67 % 11.67 % 21

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Nine Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance THE CLANCY Selected Financial Information: Rooms revenue $ — $ — $ — $ 27,536 $ (27,536) $ — (100.00)% — % Total hotel revenue $ — $ — $ — $ 32,524 $ (32,524) $ — (100.00)% — % Hotel net income (loss) $ (72) $ 72 $ — $ 3,315 $ (3,315) $ — (102.17)% — % Hotel net income (loss) margin — % — % 10.19 % — % — % — % Hotel EBITDA $ — $ — $ — $ 7,681 $ (7,681) $ — (100.00)% — % Hotel EBITDA margin — % — % 23.62 % — % — % — % Selected Operating Information: RevPAR $ — $ — $ — $ 246.01 $ 246.01 $ — — % — % Occupancy — % — % — % 72.43 % 72.43 % — % — % — % ADR $ — $ — $ — $ 339.67 $ 339.67 $ — — % — % THE RITZ-CARLTON SARASOTA Selected Financial Information: Rooms revenue $ 26,623 $ (26,623) $ — $ 28,064 $ (28,064) $ — (5.13)% — % Total hotel revenue $ 63,809 $ (63,809) $ — $ 70,323 $ (70,323) $ — (9.26)% — % Hotel net income (loss) $ 159,915 $ (159,915) $ — $ 12,112 $ (12,112) $ — 1,220.30 % — % Hotel net income (loss) margin 250.62 % — % 17.22 % — % 233.40 % — % Hotel EBITDA $ 20,828 $ (20,828) $ — $ 18,987 $ (18,987) $ — 9.70 % — % Hotel EBITDA margin 32.64 % — % 27.00 % — % 5.64 % — % Selected Operating Information: RevPAR $ 500.04 $ 500.04 $ — $ 372.46 $ 372.46 $ — 34.25 % — % Occupancy 78.54 % 78.54 % — % 67.14 % 67.14 % — % 16.98 % — % ADR $ 636.71 $ 636.71 $ — $ 554.77 $ 554.77 $ — 14.77 % — % THE RITZ-CARLTON LAKE TAHOE Selected Financial Information: Rooms revenue $ 24,481 $ — $ 24,481 $ 24,331 $ — $ 24,331 0.62 % 0.62 % Total hotel revenue $ 44,190 $ — $ 44,190 $ 46,325 $ — $ 46,325 (4.61)% (4.61)% Hotel net income (loss) $ (2,523) $ — $ (2,523) $ (1,811) $ — $ (1,811) (39.32)% (39.32)% Hotel net income (loss) margin (5.71)% (5.71)% (3.91)% (3.91)% (1.80)% (1.80)% Hotel EBITDA $ 8,721 $ — $ 8,721 $ 9,297 $ — $ 9,297 (6.20)% (6.20)% Hotel EBITDA margin 19.74 % 19.74 % 20.07 % 20.07 % (0.33)% (0.33)% Selected Operating Information: RevPAR $ 490.01 $ — $ 490.01 $ 487.01 $ — $ 487.01 0.62 % 0.62 % Occupancy 51.92 % — % 51.92 % 57.62 % — % 57.62 % (9.89)% (9.89)% ADR $ 943.85 $ — $ 943.85 $ 845.16 $ — $ 845.16 11.68 % 11.68 % MARRIOTT SEATTLE WATERFRONT Selected Financial Information: Rooms revenue $ — $ — $ — $ 18,443 $ (18,443) $ — (100.00)% — % Total hotel revenue $ — $ — $ — $ 23,768 $ (23,768) $ — (100.00)% — % Hotel net income (loss) $ 53 $ (53) $ — $ 45,787 $ (45,787) $ — (99.88)% — % Hotel net income (loss) margin — % — % 192.64 % — % — % — % Hotel EBITDA $ 53 $ (53) $ — $ 8,873 $ (8,873) $ — (99.40)% — % Hotel EBITDA margin — % — % 37.33 % — % — % — % Selected Operating Information: RevPAR $ — $ — $ — $ 229.32 $ 229.32 $ — — % — % Occupancy — % — % — % 74.90 % 74.90 % — % — % — % ADR $ — $ — $ — $ 306.18 $ 306.18 $ — — % — % 22

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Nine Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance THE RITZ-CARLTON ST. THOMAS Selected Financial Information: Rooms revenue $ 36,916 $ — $ 36,916 $ 32,632 $ — $ 32,632 13.13 % 13.13 % Total hotel revenue $ 59,950 $ — $ 59,950 $ 52,103 $ — $ 52,103 15.06 % 15.06 % Hotel net income (loss) $ 17,422 $ — $ 17,422 $ 9,283 $ — $ 9,283 87.68 % 87.68 % Hotel net income (loss) margin 29.06 % 29.06 % 17.82 % 17.82 % 11.24 % 11.24 % Hotel EBITDA $ 15,123 $ — $ 15,123 $ 13,004 $ — $ 13,004 16.29 % 16.29 % Hotel EBITDA margin 25.23 % 25.23 % 24.96 % 24.96 % 0.27 % 0.27 % Selected Operating Information: RevPAR $ 751.24 $ — $ 751.24 $ 664.06 $ — $ 664.06 13.13 % 13.13 % Occupancy 65.17 % — % 65.17 % 61.82 % — % 61.82 % 5.42 % 5.42 % ADR $ 1,152.69 $ — $ 1,152.69 $ 1,074.24 $ — $ 1,074.24 7.30 % 7.30 % CAMEO BEVERLY HILLS Selected Financial Information: Rooms revenue $ 8,914 $ — $ 8,914 $ 6,660 $ — $ 6,660 33.84 % 33.84 % Total hotel revenue $ 10,925 $ — $ 10,925 $ 8,795 $ — $ 8,795 24.22 % 24.22 % Hotel net income (loss) $ (7,003) $ — $ (7,003) $ (4,789) $ — $ (4,789) (46.23)% (46.23)% Hotel net income (loss) margin (64.10)% (64.10)% (54.45)% (54.45)% (9.65)% (9.65)% Hotel EBITDA $ (1,158) $ — $ (1,158) $ (1,812) $ — $ (1,812) 36.09 % 36.09 % Hotel EBITDA margin (10.60)% (10.60)% (20.60)% (20.60)% 10.00 % 10.00 % Selected Operating Information: RevPAR $ 231.98 $ — $ 231.98 $ 170.62 $ — $ 170.62 35.96 % 35.96 % Occupancy 64.31 % — % 64.31 % 62.85 % — % 62.85 % 2.32 % 2.32 % ADR $ 360.74 $ — $ 360.74 $ 271.49 $ — $ 271.49 32.87 % 32.87 % THE RITZ-CARLTON RESERVE DORADO BEACH Selected Financial Information: Rooms revenue $ 50,451 $ — $ 50,451 $ 43,668 $ — $ 43,668 15.53 % 15.53 % Total hotel revenue $ 76,556 $ — $ 76,556 $ 65,516 $ — $ 65,516 16.85 % 16.85 % Hotel net income (loss) $ 13,682 $ — $ 13,682 $ 7,028 $ — $ 7,028 94.68 % 94.68 % Hotel net income (loss) margin 17.87 % 17.87 % 10.73 % 10.73 % 7.14 % 7.14 % Hotel EBITDA $ 21,182 $ — $ 21,182 $ 15,438 $ — $ 15,438 37.21 % 37.21 % Hotel EBITDA margin 27.67 % 27.67 % 23.56 % 23.56 % 4.11 % 4.11 % Selected Operating Information: RevPAR $ 1,743.43 $ — $ 1,743.43 $ 1,509.07 $ — $ 1,509.07 15.53 % 15.53 % Occupancy 66.47 % — % 66.47 % 63.43 % — % 63.43 % 4.79 % 4.79 % ADR $ 2,622.76 $ — $ 2,622.76 $ 2,379.28 $ — $ 2,379.28 10.23 % 10.23 % FOUR SEASONS RESORT SCOTTSDALE Selected Financial Information: Rooms revenue $ 29,954 $ — $ 29,954 $ 28,382 $ — $ 28,382 5.54 % 5.54 % Total hotel revenue $ 55,686 $ — $ 55,686 $ 54,562 $ — $ 54,562 2.06 % 2.06 % Hotel net income (loss) $ (2,083) $ — $ (2,083) $ (19) $ — $ (19) (10,863.16)% (10,863.16)% Hotel net income (loss) margin (3.74)% (3.74)% (0.03)% (0.03)% (3.71)% (3.71)% Hotel EBITDA $ 16,308 $ — $ 16,308 $ 18,057 $ — $ 18,057 (9.69)% (9.69)% Hotel EBITDA margin 29.29 % 29.29 % 33.09 % 33.09 % (3.80)% (3.80)% Selected Operating Information: RevPAR $ 522.49 $ — $ 522.49 $ 495.06 $ — $ 495.06 5.54 % 5.54 % Occupancy 53.82 % — % 53.82 % 57.78 % — % 57.78 % (6.85)% (6.85)% ADR $ 970.83 $ — $ 970.83 $ 856.84 $ — $ 856.84 13.30 % 13.30 % 23

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Nine Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance RESORT PROPERTIES TOTAL Selected Financial Information: Rooms revenue $ 212,575 $ (70,773) $ 141,802 $ 211,529 $ (82,516) $ 129,013 0.49 % 9.91 % Total hotel revenue $ 365,236 $ (128,854) $ 236,382 $ 373,762 $ (155,256) $ 218,506 (2.28)% 8.18 % Hotel net income (loss) $ 333,537 $ (307,040) $ 26,497 $ 39,260 $ (24,778) $ 14,482 749.56 % 82.97 % Hotel net income (loss) margin 91.32 % 11.21 % 10.50 % 6.63 % 80.82 % 4.58 % Hotel EBITDA $ 106,429 $ (45,095) $ 61,334 $ 102,417 $ (46,621) $ 55,796 3.92 % 9.93 % Hotel EBITDA margin 29.14 % 25.95 % 27.40 % 25.54 % 1.74 % 0.41 % Selected Operating Information: RevPAR $ 651.29 $ 501.86 $ 764.98 $ 539.95 $ 399.80 $ 695.99 20.62 % 9.91 % Occupancy 63.79 % 71.02 % 58.29 % 61.33 % 62.81 % 59.69 % 4.01 % (2.35)% ADR $ 1,020.99 $ 706.65 $ 1,312.34 $ 880.34 $ 636.50 $ 1,166.04 15.98 % 12.55 % URBAN PROPERTIES TOTAL Selected Financial Information: Rooms revenue $ 87,511 $ — $ 87,511 $ 125,566 $ (45,979) $ 79,587 (30.31)% 9.96 % Total hotel revenue $ 121,223 $ — $ 121,223 $ 169,173 $ (56,292) $ 112,881 (28.34)% 7.39 % Hotel net income (loss) $ 3,532 $ 19 $ 3,551 $ 47,317 $ (49,102) $ (1,785) (92.54)% 298.94 % Hotel net income (loss) margin 2.91 % 2.93 % 27.97 % (1.58)% (25.06)% 4.51 % Hotel EBITDA $ 31,682 $ (53) $ 31,629 $ 41,679 $ (16,554) $ 25,125 (23.99)% 25.89 % Hotel EBITDA margin 26.14 % 26.09 % 24.64 % 22.26 % 1.50 % 3.83 % Selected Operating Information: RevPAR $ 198.64 $ — $ 198.64 $ 198.20 $ 239.03 $ 180.40 0.22 % 10.11 % Occupancy 70.93 % — % 70.93 % 70.93 % 73.46 % 69.83 % — % 1.58 % ADR $ 280.05 $ — $ 280.05 $ 279.43 $ 325.39 $ 258.35 0.22 % 8.40 % BRAEMAR PROPERTIES TOTAL Selected Financial Information: Rooms revenue $ 300,086 $ (70,773) $ 229,313 $ 337,095 $ (128,495) $ 208,600 (10.98)% 9.93 % Total hotel revenue $ 486,459 $ (128,854) $ 357,605 $ 542,935 $ (211,548) $ 331,387 (10.40)% 7.91 % Hotel net income (loss) $ 337,071 $ (307,022) $ 30,049 $ 86,576 $ (73,880) $ 12,696 289.34 % 136.68 % Hotel net income (loss) margin 69.29 % 8.40 % 15.95 % 3.83 % 53.34 % 4.57 % Hotel EBITDA $ 138,111 $ (45,148) $ 92,963 $ 144,096 $ (63,175) $ 80,921 (4.15)% 14.88 % Hotel EBITDA margin 28.39 % 26.00 % 26.54 % 24.42 % 1.85 % 1.58 % Selected Operating Information: RevPAR $ 391.27 $ (501.86) $ 366.36 $ 328.78 $ (322.25) $ 332.94 19.01 % 10.04 % Occupancy 67.89 % (71.02)% 67.19 % 67.26 % (67.95)% 66.83 % 0.94 % 0.54 % ADR $ 576.33 $ (706.65) $ 545.30 $ 488.80 $ (474.25) $ 498.21 17.91 % 9.45 % NOTES: (1) The above comparable information assumes the eight hotel properties owned and included in the Company's operations at September 30, 2026, were owned as of the beginning of each of the periods presented. (2) Rooms revenue, total hotel revenue, RevPAR, occupancy and ADR include the full results reported to us by our hotel managers for residences that we do not own but that are managed in connection with the Ritz-Carlton Lake Tahoe and the Ritz-Carlton Reserve Dorado Beach hotels. (3) Resort properties include: Bardessono Hotel and Spa, Pier House Resort & Spa, Hotel Yountville, The Ritz-Carlton Sarasota, The Ritz-Carlton Lake Tahoe, The Ritz-Carlton St. Thomas, The Ritz- Carlton Reserve Dorado Beach, Four Seasons Resort Scottsdale. (4) Urban properties include: Capital Hilton Washington D.C., Sofitel Chicago Magnificent Mile, The Notary Hotel, Cameo Beverly Hills. (5) See Exhibit 1 for reconciliation of net income (loss) to hotel EBITDA. 24

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES SELECTED FINANCIAL AND OPERATING INFORMATION BY PROPERTY (in thousands, except operating information) (unaudited) TTM Ended September 30, Actual Non-comparableAdjustments Comparable 2026 2026 2026 CAPITAL HILTON WASHINGTON D.C. Selected Financial Information: Rooms revenue $ 41,184 $ — $ 41,184 Total hotel revenue $ 63,176 $ — $ 63,176 Hotel net income $ (4,419) $ — $ (4,419) Hotel net income margin (6.99)% (6.99)% Hotel EBITDA $ 15,388 $ — $ 15,388 Hotel EBITDA margin 24.36 % 24.36 % Selected Operating Information: RevPAR $ 201.85 $ — $ 201.85 Occupancy 73.93 % — % 73.93 % ADR $ 273.01 $ — $ 273.01 HILTON LA JOLLA TORREY PINES Selected Financial Information: Rooms revenue $ — $ — $ — Total hotel revenue $ — $ — $ — Hotel net income $ 46 $ (46) $ — Hotel net income margin — % — % Hotel EBITDA $ 80 $ (80) $ — Hotel EBITDA margin — % — % Selected Operating Information: RevPAR $ — $ — $ — Occupancy — % — % — % ADR $ — $ — $ — SOFITEL CHICAGO MAGNIFICENT MILE Selected Financial Information: Rooms revenue $ 30,286 $ — $ 30,286 Total hotel revenue $ 40,302 $ — $ 40,302 Hotel net income $ (24,085) $ — $ (24,085) Hotel net income margin (59.76)% (59.76)% Hotel EBITDA $ 10,953 $ — $ 10,953 Hotel EBITDA margin 27.18 % 27.18 % Selected Operating Information: RevPAR $ 199.95 $ — $ 199.95 Occupancy 70.36 % — % 70.36 % ADR $ 284.16 $ — $ 284.16 BARDESSONO HOTEL AND SPA Selected Financial Information: Rooms revenue $ 11,918 $ (11,918) $ — Total hotel revenue $ 16,466 $ (16,466) $ — Hotel net income $ 5,573 $ (5,573) $ — Hotel net income margin 33.85 % — % Hotel EBITDA $ 3,476 $ (3,476) $ — Hotel EBITDA margin 21.11 % — % Selected Operating Information: RevPAR $ 641.11 $ 641.11 $ — Occupancy 62.68 % 62.68 % — % ADR $ 1,022.76 $ 1,022.76 $ — 25

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TTM Ended September 30, Actual Non-comparableAdjustments Comparable 2026 2026 2026 PIER HOUSE RESORT & SPA Selected Financial Information: Rooms revenue $ 23,276 $ (23,276) $ — Total hotel revenue $ 30,611 $ (30,611) $ — Hotel net income $ 122,817 $ (122,817) $ — Hotel net income margin 401.22 % — % Hotel EBITDA $ 15,413 $ (15,413) $ — Hotel EBITDA margin 50.35 % — % Selected Operating Information: RevPAR $ 520.37 $ 520.37 $ — Occupancy 82.13 % 82.13 % — % ADR $ 633.62 $ 633.62 $ — HOTEL YOUNTVILLE Selected Financial Information: Rooms revenue $ 7,745 $ (7,745) $ — Total hotel revenue $ 10,361 $ (10,361) $ — Hotel net income $ (21,942) $ 21,942 $ — Hotel net income margin (211.77)% — % Hotel EBITDA $ 2,346 $ (2,346) $ — Hotel EBITDA margin 22.64 % — % Selected Operating Information: RevPAR $ 338.48 $ 338.48 $ — Occupancy 51.15 % 51.15 % — % ADR $ 661.69 $ 661.69 $ — PARK HYATT BEAVER CREEK RESORT & SPA Selected Financial Information: Rooms revenue $ 18,495 $ (18,495) $ — Total hotel revenue $ 33,641 $ (33,641) $ — Hotel net income $ 17,413 $ (17,413) $ — Hotel net income margin 51.76 % — % Hotel EBITDA $ 9,452 $ (9,452) $ — Hotel EBITDA margin 28.10 % — % Selected Operating Information: RevPAR $ 404.33 $ 404.33 $ — Occupancy 49.25 % 49.25 % — % ADR $ 820.93 $ 820.93 $ — THE NOTARY HOTEL Selected Financial Information: Rooms revenue $ 30,707 $ — $ 30,707 Total hotel revenue $ 41,355 $ — $ 41,355 Hotel net income $ 8,726 $ — $ 8,726 Hotel net income margin 21.10 % 21.10 % Hotel EBITDA $ 14,074 $ — $ 14,074 Hotel EBITDA margin 34.03 % 34.03 % Selected Operating Information: RevPAR $ 168.60 $ — $ 168.60 Occupancy 67.48 % — % 67.48 % ADR $ 249.85 $ — $ 249.85 26

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TTM Ended September 30, Actual Non-comparableAdjustments Comparable 2026 2026 2026 THE CLANCY Selected Financial Information: Rooms revenue $ 4,296 $ (4,296) $ — Total hotel revenue $ 5,032 $ (5,032) $ — Hotel net income $ 42,704 $ (42,704) $ — Hotel net income margin 848.65 % — % Hotel EBITDA $ 1,557 $ (1,557) $ — Hotel EBITDA margin 30.94 % — % Selected Operating Information: RevPAR $ 291.44 $ 291.44 $ — Occupancy 72.62 % 72.62 % — % ADR $ 401.34 $ 401.34 $ — THE RITZ-CARLTON SARASOTA Selected Financial Information: Rooms revenue $ 35,330 $ (35,330) $ — Total hotel revenue $ 87,413 $ (87,413) $ — Hotel net income $ 163,426 $ (163,426) $ — Hotel net income margin 186.96 % — % Hotel EBITDA $ 26,954 $ (26,954) $ — Hotel EBITDA margin 30.84 % — % Selected Operating Information: RevPAR $ 449.29 $ 449.29 $ — Occupancy 73.24 % 73.24 % — % ADR $ 613.42 $ 613.42 $ — THE RITZ-CARLTON LAKE TAHOE Selected Financial Information: Rooms revenue $ 30,457 $ — $ 30,457 Total hotel revenue $ 54,936 $ — $ 54,936 Hotel net income $ (7,563) $ — $ (7,563) Hotel net income margin (13.77)% (13.77)% Hotel EBITDA $ 7,972 $ — $ 7,972 Hotel EBITDA margin 14.51 % 14.51 % Selected Operating Information: RevPAR $ 455.99 $ — $ 455.99 Occupancy 48.52 % — % 48.52 % ADR $ 939.77 $ — $ 939.77 MARRIOTT SEATTLE WATERFRONT Selected Financial Information: Rooms revenue $ — $ — $ — Total hotel revenue $ — $ — $ — Hotel net income $ 144 $ (144) $ — Hotel net income margin — % — % Hotel EBITDA $ 53 $ (53) $ — Hotel EBITDA margin — % — % Selected Operating Information: RevPAR $ — $ — $ — Occupancy — % — % — % ADR $ — $ — $ — 27

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TTM Ended September 30, Actual Non-comparableAdjustments Comparable 2026 2026 2026 THE RITZ-CARLTON ST. THOMAS Selected Financial Information: Rooms revenue $ 46,493 $ — $ 46,493 Total hotel revenue $ 75,775 $ — $ 75,775 Hotel net income $ 19,964 $ — $ 19,964 Hotel net income margin 26.35 % 26.35 % Hotel EBITDA $ 18,822 $ — $ 18,822 Hotel EBITDA margin 24.84 % 24.84 % Selected Operating Information: RevPAR $ 707.66 $ — $ 707.66 Occupancy 63.11 % — % 63.11 % ADR $ 1,121.39 $ — $ 1,121.39 CAMEO BEVERLY HILLS Selected Financial Information: Rooms revenue $ 9,948 $ — $ 9,948 Total hotel revenue $ 12,308 $ — $ 12,308 Hotel net income $ (10,638) $ — $ (10,638) Hotel net income margin (86.43)% (86.43)% Hotel EBITDA $ (3,310) $ — $ (3,310) Hotel EBITDA margin (26.89)% (26.89)% Selected Operating Information: RevPAR $ 192.84 $ — $ 192.84 Occupancy 53.60 % — % 53.60 % ADR $ 359.81 $ — $ 359.81 THE RITZ-CARLTON RESERVE DORADO BEACH Selected Financial Information: Rooms revenue $ 68,060 $ — $ 68,060 Total hotel revenue $ 102,163 $ — $ 102,163 Hotel net income $ 16,981 $ — $ 16,981 Hotel net income margin 16.62 % 16.62 % Hotel EBITDA $ 28,250 $ — $ 28,250 Hotel EBITDA margin 27.65 % 27.65 % Selected Operating Information: RevPAR $ 1,759.11 $ — $ 1,759.11 Occupancy 65.43 % — % 65.43 % ADR $ 2,688.42 $ — $ 2,688.42 FOUR SEASONS RESORT SCOTTSDALE Selected Financial Information: Rooms revenue $ 41,601 $ — $ 41,601 Total hotel revenue $ 80,397 $ — $ 80,397 Hotel net income (loss) $ 1,428 $ — $ 1,428 Hotel net income (loss) margin 1.78 % 1.78 % Hotel EBITDA $ 26,271 $ — $ 26,271 Hotel EBITDA margin 32.68 % 32.68 % Selected Operating Information: RevPAR $ 542.74 $ — $ 542.74 Occupancy 57.25 % — % 57.25 % ADR $ 947.95 $ — $ 947.95 28

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TTM Ended September 30, Actual Non-comparableAdjustments Comparable 2026 2026 2026 RESORT PROPERTIES TOTAL Selected Financial Information: Rooms revenue $ 283,375 $ (96,764) $ 186,611 Total hotel revenue $ 491,763 $ (178,492) $ 313,271 Hotel net income $ 318,143 $ (287,333) $ 30,810 Hotel net income margin 64.69 % 9.83 % Hotel EBITDA $ 139,036 $ (57,721) $ 81,315 Hotel EBITDA margin 28.27 % 25.96 % Selected Operating Information: RevPAR $ 618.17 $ 459.52 $ 752.97 Occupancy 61.80 % 66.59 % 57.73 % ADR $ 1,000.31 $ 690.10 $ 1,304.33 URBAN PROPERTIES TOTAL Selected Financial Information: Rooms revenue $ 116,421 $ (4,296) $ 112,125 Total hotel revenue $ 162,173 $ (5,032) $ 157,141 Hotel net income $ 12,432 $ (42,848) $ (30,416) Hotel net income margin 7.67 % (19.36)% Hotel EBITDA $ 38,715 $ (1,610) $ 37,105 Hotel EBITDA margin 23.87 % 23.61 % Selected Operating Information: RevPAR $ 192.76 $ 291.44 $ 190.29 Occupancy 69.32 % 72.62 % 69.24 % ADR $ 278.06 $ 401.34 $ 274.83 BRAEMAR PROPERTIES TOTAL Selected Financial Information: Rooms revenue $ 399,796 $ (101,060) $ 298,736 Total hotel revenue $ 653,936 $ (183,524) $ 470,412 Hotel net income $ 330,575 $ (330,181) $ 394 Hotel net income margin 50.55 % 0.08 % Hotel EBITDA $ 177,751 $ (59,331) $ 118,420 Hotel EBITDA margin 27.18 % 25.17 % Selected Operating Information: RevPAR $ 376.32 $ 448.52 $ 356.89 Occupancy 66.08 % 66.98 % 65.83 % ADR $ 569.53 $ 669.62 $ 542.12 NOTES: (1) The above comparable information assumes the eight hotel properties owned and included in the Company's operations at September 30, 2026, were owned as of the beginning of each of the periods presented. (2) Rooms revenue, total hotel revenue, RevPAR, occupancy and ADR include the full results reported to us by our hotel managers for residences that we do not own but that are managed in connection with the Ritz-Carlton Lake Tahoe and the Ritz-Carlton Reserve Dorado Beach hotels. (3) Resort properties include: Bardessono Hotel and Spa, Pier House Resort & Spa, Hotel Yountville, The Ritz-Carlton Sarasota, The Ritz-Carlton Lake Tahoe, The Ritz-Carlton St. Thomas, The Ritz- Carlton Reserve Dorado Beach, Four Seasons Resort Scottsdale. (4) Urban properties include: Capital Hilton Washington D.C., Sofitel Chicago Magnificent Mile, The Notary Hotel, Cameo Beverly Hills. (5) See Exhibit 1 for reconciliation of net income (loss) to hotel EBITDA. 29

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES HOTEL REVENUE, NET INCOME (LOSS) & EBITDA FOR TRAILING TWELVE MONTHS (dollars in thousands) (unaudited) Actual Non-comparableAdjustmentsComparableActual Non-comparableAdjustmentsComparableActual Non-comparableAdjustmentsComparableActual Non-comparableAdjustmentsComparable 2026 2026 2026 2026 2026 2026 2026 2026 2026 2025 2025 2025 3rdQuarter 3rd Quarter3rd Quarter 2ndQuarter 2nd Quarter2nd Quarter 1stQuarter 1st Quarter1st Quarter 4thQuarter 4th Quarter4th Quarter Total hotelrevenue $102,697 $ (7,461)$ 95,236 $172,138 $ (49,914)$ 122,224 $211,626 $ (71,479)$ 140,147 $167,475 $ (54,670)$ 112,805 Hotel netincome(loss) $258,085 $ (259,857)$ (1,772) $ 34,753 $ (27,402)$ 7,351 $ 44,233 $ (19,763)$ 24,470 $ (6,496) $ (23,159)$ (29,655) Hotel netincome(loss)margin 251.31 % (1.86)% 20.19 % 6.01 % 20.90 % 17.46 % (3.88)% (26.29)% HotelEBITDA$ 14,696 $ (1,783)$ 12,913 $ 47,952 $ (15,971)$ 31,981 $ 75,463 $ (27,394)$ 48,069 $ 39,640 $ (14,183)$ 25,457 HotelEBITDAmargin 14.31 % 13.56 % 27.86 % 26.17 % 35.66 % 34.30 % 23.67 % 22.57 % Hotel netincome(loss) %of totalTTM 78.1 % (449.8)% 10.5 % 1,865.7 % 13.4 % 6,210.7 % (2.0)% (7,526.6)% EBITDA% of totalTTM 8.2 % 10.8 % 27.0 % 27.0 % 42.5 % 40.6 % 22.3 % 21.6 % JVinterestsin Hotelnetincome(loss) $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 10 $ (21) $ (11) JVinterestsinEBITDA$ — $ — $ — $ — $ — $ — $ — $ — $ — $ 857 $ (18) $ 839 Actual Non-comparableAdjustmentsComparable 2026 2026 2026 TTM TTM TTM Total hotelrevenue $653,936 $ (183,524)$ 470,412 Hotel netincome(loss) $330,575 $ (330,181)$ 394 Hotel netincome(loss)margin 50.55 % 0.08 % HotelEBITDA$177,751 $ (59,331)$ 118,420 HotelEBITDAmargin 27.18 % 25.17 % Hotel netincome(loss) %of totalTTM 100.0 % 100.0 % EBITDA% of totalTTM 100.0 % 100.0 % JVinterestsin Hotelnetincome(loss) $ 10 $ (21) $ (11) JVinterestsinEBITDA$ 857 $ (18) $ 839 NOTES: (1) The above comparable information assumes the eight hotel properties owned and included in the Company's operations at September 30, 2026, were owned as of the beginning of each of the periods presented.

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(2) Total hotel revenue includes the full results reported to us by our hotel managers for residences that we do not own but that are managed in connection with The Ritz-Carlton Lake Tahoe and The Ritz-Carlton Reserve Dorado Beach hotels. (3) See Exhibit 1 for reconciliation of net income (loss) to hotel EBITDA. 30

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES TOTAL ENTERPRISE VALUE September 30, 2026 (in thousands, except share price) (unaudited) September 30, 2026 Common stock shares outstanding 68,679 Partnership units outstanding (common stock equivalents) 4,592 Combined common stock shares and partnership units outstanding 73,271 Common stock price $ 1.67 Market capitalization $ 122,363 Series B cumulative convertible preferred stock $ 76,950 Series D cumulative preferred stock $ 40,000 Series E redeemable preferred stock $ 203,753 Series M redeemable preferred stock $ 31,750 Indebtedness $ 624,414 Net working capital (see below) $ 193,432 Total enterprise value (TEV) $ 1,292,662 Cash and cash equivalents $ 99,479 Restricted cash $ 48,598 Accounts receivable, net $ 26,729 Inventory $ 3,153 Prepaid expenses $ 4,393 Due from third-party hotel managers, net $ 15,881 Total current assets $ 198,233 Accounts payable, net & accrued expenses $ 145,072 Redeemable preferred stock redemptions payable $ 63,480 Dividends and distributions payable $ 3,780 Due to affiliates, net $ 179,333 Total current liabilities $ 391,665 Net working capital $ (193,432) 31

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES ANTICIPATED CAPITAL EXPENDITURES CALENDAR (a) 2026 1st Quarter 2ndQuarter 3rdQuarter4th Quarter Rooms Actual Actual Actual Estimated Sofitel Chicago Magnificent Mile 415 x Total 0 0 0 1 (a) Only hotels which have had or are expected to have significant capital expenditures that could result in displacement in 2026 are included in this table. 32

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Exhibit 1 BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES RECONCILIATION OF NET INCOME (LOSS) TO HOTEL EBITDA (in thousands) (unaudited) 2026 2026 2026 2025 September 30,2026 3rdQuarter 2ndQuarter 1stQuarter 4thQuarter TTM Net income (loss) $ 258,085 $ 34,753 $ 44,233 $ (6,496) $ 330,575 Non-property adjustments (259,922) (17,393) (46) 12,472 (264,889) Interest income (257) (254) (240) (292) (1,043) Interest expense 5,957 6,668 7,103 7,587 27,315 Amortization of loan costs 470 379 390 623 1,862 Depreciation and amortization 16,610 21,433 22,579 22,659 83,281 Income tax expense (benefit) (7,918) 1,132 797 1,442 (4,547) Non-hotel EBITDA ownership expense 1,671 1,234 647 1,645 5,197 Hotel EBITDA including amounts attributable to noncontrollinginterest 14,696 47,952 75,463 39,640 177,751 Non-comparable adjustments (1,783) (15,971) (27,394) (14,183) (59,331) Comparable hotel EBITDA $ 12,913 $ 31,981 $ 48,069 $ 25,457 $ 118,420 33

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Exhibit 1 BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES RECONCILIATION OF NET INCOME (LOSS) TO HOTEL EBITDA (in thousands) (unaudited) Three Months Ended September 30, 2026 CapitalHiltonWashingtonD.C. HiltonLaJollaTorreyPines SofitelChicagoMagnificentMile BardessonoHotel andSpa Pier HouseResort &Spa HotelYountville ParkHyattBeaverCreekResort& Spa TheNotaryHotel TheClancy The Ritz-CarltonSarasota TheRitz-CarltonLakeTahoe MarriottSeattleWaterfront TheRitz-CarltonSt.Thomas CameoBeverlyHills The Ritz-CarltonReserveDoradoBeach FourSeasonsResortScottsdale Hotel Total Corporate /Allocated BraemarHotels &Resorts Inc. Net income (loss)$ (2,937)$ 6 $ 3,472 $ 13,469 $109,568 $(6,495)$(103) $2,656 $(57) $143,447 $ 230 $ 22 $5,682 $(2,050)$(1,543)$(7,282)$258,085 $(507,469)$(249,384) Non-propertyadjustments 17 — — (13,616)(108,742) 6,337 459 — 54 (144,431) — — — — — — (259,922) 259,922 — Interest income (73) — (8) — — — — (37) — (1) (1) — (75) — (17) (45) (257) 257 — Interest expense2,099 — — — — — — — — 17 769 — — — — 3,072 5,957 8,568 14,525 Amortization ofloan cost 162 — — — — — — — — — 83 — — — — 225 470 1,208 1,678 Depreciation andamortization 2,695 — 1,127 73 148 98 — 1,243 — 306 2,747 — 1,400 1,666 2,166 2,941 16,610 1 16,611 Income taxexpense (benefit) (87) — — — — — — 5 — — — — (7,943) — 107 — (7,918) (1,838) (9,756) Non-hotelEBITDAownershipexpense — — 149 55 42 — — 11 3 1,124 232 — 23 25 7 — 1,671 (1,671) — Hotel EBITDAincludingamountsattributable tononcontrollinginterest 1,876 6 4,740 (19) 1,016 (60) 356 3,878 — 462 4,060 22 (913) (359) 720 (1,089) 14,696 (241,022)(226,326) Less: EBITDAadjustmentsattributable toconsolidatednoncontrollinginterest — — — — — — — — — — — — — — — — — — — Equity inearnings (loss) ofunconsolidatedentities — — — — — — — — — — — — — — — — — — — Hotel EBITDAattributable to theCompany and OPunitholders $ 1,876 $ 6 $ 4,740 $ (19) $ 1,016 $ (60) $ 356 $3,878 $ — $ 462 $4,060 $ 22 $ (913) $ (359) $ 720 $(1,089)$ 14,696 $(241,022)$(226,326) Non-comparableadjustments — (6) — 19 (1,016) 60 (356) — — (462) — (22) — — — — (1,783) Comparable hotelEBITDA $ 1,876 $ — $ 4,740 $ — $ — $ — $ — $3,878 $ — $ — $4,060 $ — $ (913) $ (359) $ 720 $(1,089)$ 12,913 RESORTPROPERTIES: Hotel EBITDAincludingamountsattributable tononcontrollinginterest $ — $ 6 $ — $ (19) $ 1,016 $ (60) $ 356 $ — $ — $ 462 $4,060 $ — $ (913) $ — $ 720 $(1,089)$ 4,539 Non-comparableadjustments — (6) — 19 (1,016) 60 (356) — — (462) — — — — — — (1,761) Comparable hotelEBITDA $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $4,060 $ — $ (913) $ — $ 720 $(1,089)$ 2,778 URBANPROPERTIES: Hotel EBITDAincludingamountsattributable tononcontrollinginterest $ 1,876 $ — $ 4,740 $ — $ — $ — $ — $3,878 $ — $ — $ — $ 22 $ — $ (359) $ — $ — $ 10,157 Non-comparableadjustments — — — — — — — — — — — (22) — — — — (22) Comparable hotelEBITDA $ 1,876 $ — $ 4,740 $ — $ — $ — $ — $3,878 $ — $ — $ — $ — $ — $ (359) $ — $ — $ 10,135 34

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Exhibit 1 COMPARABLE HOTEL EBITDA BY LOAN POOL (in thousands) (unaudited) Three Months Ended September 30, 2026 CapitalHiltonWashingtonD.C. HiltonLa JollaTorreyPines SofitelChicagoMagnificentMile BardessonoHotel andSpa PierHouseResort &Spa HotelYountville ParkHyattBeaverCreekResort &Spa TheNotaryHotel TheClancy The Ritz-CarltonSarasota The Ritz-CarltonLakeTahoe MarriottSeattleWaterfront The Ritz-CarltonSt.Thomas CameoBeverlyHills The Ritz-CarltonReserveDoradoBeach FourSeasonsScottsdaleResort HotelTotal Aareal (Capital Hilton) $ 1,876 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 1,876 JPMorgan Chase (see footnote 3)— — 4,740 — — — — 3,878 — — — — — — 720 — 9,338 BAML — — — — — — — — — — — — (913) — — — (913) BAML (The Ritz-Carlton LakeTahoe) (see footnote 4) — — — — — — — — — — 4,060 — — — — — 4,060 Aareal (Four Seasons ResortScottsdale) (see footnote 5) — — — — — — — — — — — — — — — (1,089) (1,089) Unencumbered (Cameo BeverlyHills) — — — — — — — — — — — — — (359) — — (359) Total $ 1,876 $ — $ 4,740 $ — $ — $ — $ — $ 3,878 $ — $ — $ 4,060 $ — $ (913) $ (359) $ 720 $ (1,089)$12,913 NOTES: (1) The above comparable information assumes the eight hotel properties owned and included in the Company's operations at September 30, 2026, were owned as of the beginning of each of the periods presented. (2) Rooms revenue, RevPAR, occupancy and ADR include the full results reported to us by our hotel managers for residences that we do not own but that are managed in connection with The Ritz-Carlton Lake Tahoe and The Ritz-Carlton Reserve Dorado Beach hotels. (3) This mortgage loan is secured by The Ritz-Carlton Reserve Dorado Beach, Sofitel Chicago Magnificent Mile and The Notary Hotel. (4) On October 13, 2026, we amended this mortgage loan, extending the maturity date from October 2026 to November 2026. On October 30, 2026, we refinanced this mortgage loan into a new $60.0 million mortgage loan with an additional $15.0 million available to be drawn subject to certain conditions. The new mortgage loan is interest only and bears interest at a rate of SOFR + 2.65% with a floor of 5.30%, has a three-year initial term, and two one-year extension options, subject to satisfaction of certain conditions. (5) As of September 30, 2026, this property was held for sale. The sale of the property closed on October 28, 2026. 35

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Exhibit 1 BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES RECONCILIATION OF NET INCOME (LOSS) TO HOTEL EBITDA (in thousands) (unaudited) Three Months Ended June 30, 2026 CapitalHiltonWashingtonD.C. HiltonLaJollaTorreyPines SofitelChicagoMagnificentMile BardessonoHotel andSpa PierHouseResort &Spa HotelYountville ParkHyattBeaverCreekResort &Spa TheNotaryHotel TheClancy TheRitz-CarltonSarasota The Ritz-CarltonLakeTahoe MarriottSeattleWaterfront TheRitz-CarltonSt.Thomas CameoBeverlyHills The Ritz-CarltonReserveDoradoBeach FourSeasonsResortScottsdale HotelTotal Corporate/ Allocated BraemarHotels &ResortsInc. Net income (loss)$ 1,633 $ — $ 2,556 $ 1,131 $3,912 $ 1,012 $14,657 $3,910 $ (18) $6,677 $(4,772)$ 31 $2,178 $(1,899)$4,482 $ (737) $34,753 $(27,811) $ 6,942 Non-propertyadjustments 2 — — — — — (17,398) — 3 — — — — — — — (17,393) 17,393 — Interest income (48) — (3) — — — — (33) — (40) (3) — (71) — (15) (41) (254) 254 — Interest expense 2,067 — — — — — 702 — — 119 757 — — — — 3,023 6,668 11,402 18,070 Amortization ofloan cost 158 — — — — — — — — — — — — — — 221 379 2,064 2,443 Depreciation andamortization 2,721 — 1,111 784 359 740 1,243 1,331 — 1,881 2,678 — 1,460 2,027 2,194 2,904 21,433 — 21,433 Income tax expense(benefit) 88 — — — — — — 6 — — — — 727 — 311 — 1,132 1,349 2,481 Non-hotel EBITDAownership expense — — 167 111 8 12 310 (1) 15 (280) 222 — 584 45 17 24 1,234 (1,234) — Hotel EBITDAincluding amountsattributable tononcontrollinginterest 6,621 — 3,831 2,026 4,279 1,764 (486) 5,213 — 8,357 (1,118) 31 4,878 173 6,989 5,394 47,952 3,417 51,369 Less: EBITDAadjustmentsattributable toconsolidatednoncontrollinginterest — — — — — — — — — — — — — — — — — — — Equity in earnings(loss) ofunconsolidatedentities — — — — — — — — — — — — — — — — — — — Hotel EBITDAattributable to theCompany and OPunitholders $ 6,621 $ — $ 3,831 $ 2,026 $4,279 $ 1,764 $ (486) $5,213 $ — $8,357 $(1,118) $ 31 $4,878 $ 173 $6,989 $ 5,394 $47,952 $ 3,417 $51,369 Non-comparableadjustments — — — (2,026) (4,279) (1,764) 486 — — (8,357) — (31) — — — — (15,971) Comparable hotelEBITDA $ 6,621 $ — $ 3,831 $ — $ — $ — $ — $5,213 $ — $ — $(1,118) $ — $4,878 $ 173 $6,989 $ 5,394 $31,981 RESORTPROPERTIES: Hotel EBITDAincluding amountsattributable tononcontrollinginterest $ — $ — $ — $ 2,026 $4,279 $ 1,764 $ (486) $ — $ — $8,357 $(1,118) $ — $4,878 $ — $6,989 $ 5,394 $32,083 Non-comparableadjustments — — — (2,026) (4,279) (1,764) 486 — — (8,357) — — — — — — (15,940) Comparable hotelEBITDA $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $(1,118) $ — $4,878 $ — $6,989 $ 5,394 $16,143 URBANPROPERTIES: Hotel EBITDAincluding amountsattributable tononcontrollinginterest $ 6,621 $ — $ 3,831 $ — $ — $ — $ — $5,213 $ — $ — $ — $ 31 $ — $ 173 $ — $ — $15,869 Non-comparableadjustments — — — — — — — — — — — (31) — — — — (31) Comparable hotelEBITDA $ 6,621 $ — $ 3,831 $ — $ — $ — $ — $5,213 $ — $ — $ — $ — $ — $ 173 $ — $ — $15,838 36

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Exhibit 1 COMPARABLE HOTEL EBITDA BY LOAN POOL (in thousands) (unaudited) Three Months Ended June 30, 2026 CapitalHiltonWashingtonD.C. HiltonLa JollaTorreyPines SofitelChicagoMagnificentMile BardessonoHotel andSpa PierHouseResort &Spa HotelYountville ParkHyattBeaverCreekResort &Spa TheNotaryHotel TheClancy The Ritz-CarltonSarasota The Ritz-CarltonLakeTahoe MarriottSeattleWaterfront The Ritz-CarltonSt.Thomas CameoBeverlyHills The Ritz-CarltonReserveDoradoBeach FourSeasonsScottsdaleResort HotelTotal Aareal (Capital Hilton) $ 6,621 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 6,621 JPMorgan Chase (see footnote 3)— — 3,831 — — — — 5,213 — — — — — — 6,989 — 16,033 BAML — — — — — — — — — — — — 4,878 — — — 4,878 BAML (The Ritz-Carlton LakeTahoe) (see footnote 4) — — — — — — — — — — (1,118) — — — — — (1,118) Aareal (Four Seasons ResortScottsdale) (see footnote 5) — — — — — — — — — — — — — — — 5,394 5,394 Unencumbered (Cameo BeverlyHills) — — — — — — — — — — — — — 173 — — 173 Total $ 6,621 $ — $ 3,831 $ — $ — $ — $ — $ 5,213 $ — $ — $(1,118) $ — $ 4,878 $ 173 $ 6,989 $ 5,394 $31,981 NOTES: (1) The above comparable information assumes the eight hotel properties owned and included in the Company's operations at September 30, 2026, were owned as of the beginning of each of the periods presented. (2) Rooms revenue, RevPAR, occupancy and ADR include the full results reported to us by our hotel managers for residences that we do not own but that are managed in connection with The Ritz-Carlton Lake Tahoe and The Ritz-Carlton Reserve Dorado Beach hotels. (3) This mortgage loan is secured by The Ritz-Carlton Reserve Dorado Beach, Sofitel Chicago Magnificent Mile and The Notary Hotel. (4) On October 13, 2026, we amended this mortgage loan, extending the maturity date from October 2026 to November 2026. On October 30, 2026, we refinanced this mortgage loan into a new $60.0 million mortgage loan with an additional $15.0 million available to be drawn subject to certain conditions. The new mortgage loan is interest only and bears interest at a rate of SOFR + 2.65% with a floor of 5.30%, has a three-year initial term, and two one-year extension options, subject to satisfaction of certain conditions. (5) As of September 30, 2026, this property was held for sale. The sale of the property closed on October 28, 2026. 37

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Exhibit 1 BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES RECONCILIATION OF NET INCOME (LOSS) TO HOTEL EBITDA (in thousands) (unaudited) Three Months Ended March 31, 2026 CapitalHiltonWashingtonD.C. HiltonLaJollaTorreyPines SofitelChicagoMagnificentMile BardessonoHotel andSpa PierHouseResort &Spa HotelYountville ParkHyattBeaverCreekResort &Spa TheNotaryHotel TheClancy The Ritz-CarltonSarasota TheRitz-CarltonLakeTahoe MarriottSeattleWaterfront The Ritz-CarltonSt.Thomas CameoBeverlyHills The Ritz-CarltonReserveDoradoBeach FourSeasonsResortScottsdale HotelTotal Corporate/ Allocated BraemarHotels &ResortsInc. Net income (loss)$ (1,225)$ — $ 275 $ (569) $6,051 $(1,106)$5,593 $ 214 $ 3 $ 9,791 $2,019 $ — $ 9,562 $(3,054)$10,743 $ 5,936 $44,233 $(26,199)$18,034 Non-propertyadjustments (43) — — — — — — — (3) — — — — — — — (46) 46 — Interest income (42) — (1) — — — — (30) — (45) (2) — (70) — (13) (37) (240) 240 — Interest expense 2,055 — — — — — 1,154 — — 135 752 — — — — 3,007 7,103 11,683 18,786 Amortization ofloan cost 154 — — — — — — — — — 20 — — — — 216 390 2,019 2,409 Depreciation andamortization 2,759 — 1,094 787 376 764 2,190 1,404 — 2,143 2,716 — 1,448 1,863 2,154 2,881 22,579 — 22,579 Income tax expense(benefit) — — — — — — — 4 — — — — 214 — 579 — 797 620 1,417 Non-hotel EBITDAownership expense 1 — 8 117 6 19 3 1 — (15) 274 — 4 219 10 — 647 (647) — Hotel EBITDAincluding amountsattributable tononcontrollinginterest 3,659 — 1,376 335 6,433 (323) 8,940 1,593 — 12,009 5,779 — 11,158 (972) 13,473 12,003 75,463 (12,238) 63,225 Less: EBITDAadjustmentsattributable toconsolidatednoncontrollinginterest — — — — — — — — — — — — — — — — — — — Equity in earnings(loss) ofunconsolidatedentities — — — — — — — — — — — — — — — — — 31 31 Hotel EBITDAattributable to theCompany and OPunitholders $ 3,659 $ — $ 1,376 $ 335 $6,433 $ (323) $8,940 $1,593 $ — $12,009 $5,779 $ — $11,158 $ (972) $13,473 $12,003 $75,463 $(12,207)$63,256 Non-comparableadjustments — — — (335) (6,433) 323 (8,940) — — (12,009) — — — — — — (27,394) Comparable hotelEBITDA $ 3,659 $ — $ 1,376 $ — $ — $ — $ — $1,593 $ — $ — $5,779 $ — $11,158 $ (972) $13,473 $12,003 $48,069 RESORTPROPERTIES: Hotel EBITDAincluding amountsattributable tononcontrollinginterest $ — $ — $ — $ 335 $6,433 $ (323) $8,940 $ — $ — $12,009 $5,779 $ — $11,158 $ — $13,473 $12,003 $69,807 Non-comparableadjustments — — — (335) (6,433) 323 (8,940) — — (12,009) — — — — — — (27,394) Comparable hotelEBITDA $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $5,779 $ — $11,158 $ — $13,473 $12,003 $42,413 URBANPROPERTIES: Hotel EBITDAincluding amountsattributable tononcontrollinginterest $ 3,659 $ — $ 1,376 $ — $ — $ — $ — $1,593 $ — $ — $ — $ — $ — $ (972) $ — $ — $ 5,656 Non-comparableadjustments — — — — — — — — — — — — — — — — — Comparable hotelEBITDA $ 3,659 $ — $ 1,376 $ — $ — $ — $ — $1,593 $ — $ — $ — $ — $ — $ (972) $ — $ — $ 5,656 38

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Exhibit 1 COMPARABLE HOTEL EBITDA BY LOAN POOL (in thousands) (unaudited) Three Months Ended March 31, 2026 CapitalHiltonWashingtonD.C. HiltonLa JollaTorreyPines SofitelChicagoMagnificentMile BardessonoHotel andSpa PierHouseResort &Spa HotelYountville ParkHyattBeaverCreekResort &Spa TheNotaryHotel TheClancy The Ritz-CarltonSarasota The Ritz-CarltonLakeTahoe MarriottSeattleWaterfront The Ritz-CarltonSt.Thomas CameoBeverlyHills The Ritz-CarltonReserveDoradoBeach FourSeasonsResortScottsdale HotelTotal Aareal (Capital Hilton) $ 3,659 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 3,659 JPMorgan Chase (see footnote 3)— — 1,376 — — — — 1,593 — — — — — — 13,473 — 16,442 BAML — — — — — — — — — — — — 11,158 — — — 11,158 BAML (The Ritz-Carlton LakeTahoe) (see footnote 4) — — — — — — — — — — 5,779 — — — — — 5,779 Aareal (Four Seasons ResortScottsdale) (see footnote 5) — — — — — — — — — — — — — — — 12,003 12,003 Unencumbered (Cameo BeverlyHills) — — — — — — — — — — — — — (972) — — (972) Total $ 3,659 $ — $ 1,376 $ — $ — $ — $ — $ 1,593 $ — $ — $ 5,779 $ — $11,158 $ (972) $ 13,473 $12,003 $48,069 NOTES: (1) The above comparable information assumes the eight hotel properties owned and included in the Company's operations at September 30, 2026, were owned as of the beginning of each of the periods presented. (2) Rooms revenue, RevPAR, occupancy and ADR include the full results reported to us by our hotel managers for residences that we do not own but that are managed in connection with The Ritz-Carlton Lake Tahoe and The Ritz-Carlton Reserve Dorado Beach hotels. (3) This mortgage loan is secured by The Ritz-Carlton Reserve Dorado Beach, Sofitel Chicago Magnificent Mile and The Notary Hotel. (4) On October 13, 2026, we amended this mortgage loan, extending the maturity date from October 2026 to November 2026. On October 30, 2026, we refinanced this mortgage loan into a new $60.0 million mortgage loan with an additional $15.0 million available to be drawn subject to certain conditions. The new mortgage loan is interest only and bears interest at a rate of SOFR + 2.65% with a floor of 5.30%, has a three-year initial term, and two one-year extension options, subject to satisfaction of certain conditions. (5) As of September 30, 2026, this property was held for sale. The sale of the property closed on October 28, 2026. 39

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Exhibit 1 BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES RECONCILIATION OF NET INCOME (LOSS) TO HOTEL EBITDA (in thousands) (unaudited) Three Months Ended December 31, 2025 CapitalHiltonWashingtonD.C. HiltonLaJollaTorreyPines SofitelChicagoMagnificentMile BardessonoHotel andSpa PierHouseResort& Spa HotelYountville ParkHyattBeaverCreekResort &Spa TheNotaryHotel TheClancy TheRitz-CarltonSarasota The Ritz-CarltonLakeTahoe MarriottSeattleWaterfront TheRitz-CarltonSt.Thomas CameoBeverlyHills TheRitz-CarltonReserveDoradoBeach FourSeasonsResortScottsdale HotelTotal Corporate/ Allocated BraemarHotels &ResortsInc. Net income (loss)$ (1,890)$ 40 $(30,388)$ (8,458)$3,286 $(15,353)$(2,734)$1,946 $42,776 $3,511 $(5,040)$ 91 $2,542 $(3,635)$3,299 $ 3,511 $(6,496)$(30,468)$(36,964) Non-propertyadjustments 3 — 30,256 8,672 — 15,564 — — (41,730) (129) (67) (97) — — — — 12,472 (12,472) — Interest income (44) (14) (3) — — — — (31) (25) (39) (3) — (77) — (10) (46) (292) 292 — Interest expense 2,191 — — — — — 1,237 — — 135 804 — — — — 3,220 7,587 12,943 20,530 Amortization ofloan cost 150 — — — — — — — — — 58 — — — — 415 623 2,010 2,633 Depreciation andamortization 2,805 — 1,084 766 379 721 2,165 1,391 509 2,171 2,772 — 1,448 1,447 2,130 2,871 22,659 — 22,659 Income taxexpense (benefit) 8 — — — — — — 63 — — — — (244) — 1,615 — 1,442 63 1,505 Non-hotelEBITDAownership expense 9 48 57 154 20 33 (26) 21 27 477 727 6 30 36 34 (8) 1,645 (1,645) — Hotel EBITDAincluding amountsattributable tononcontrollinginterest 3,232 74 1,006 1,134 3,685 965 642 3,390 1,557 6,126 (749) — 3,699 (2,152) 7,068 9,963 39,640 (29,277) 10,363 Less: EBITDAadjustmentsattributable toconsolidatednoncontrollinginterest (839) (18) — — — — — — — — — — — — — — (857) 857 — Equity in earnings(loss) ofunconsolidatedentities — — — — — — — — — — — — — — — — — 56 56 Hotel EBITDAattributable to theCompany and OPunitholders $ 2,393 $ 56 $ 1,006 $ 1,134 $3,685 $ 965 $ 642 $3,390 $ 1,557 $6,126 $ (749) $ — $3,699 $(2,152)$7,068 $ 9,963 $38,783 $(28,364)$ 10,419 Non-comparableadjustments — (74) — (1,134) (3,685) (965) (642) — (1,557) (6,126) — — — — — — (14,183) Comparable hotelEBITDA $ 3,232 $ — $ 1,006 $ — $ — $ — $ — $3,390 $ — $ — $ (749) $ — $3,699 $(2,152)$7,068 $ 9,963 $25,457 RESORTPROPERTIES: Hotel EBITDAincluding amountsattributable tononcontrollinginterest $ — $ 74 $ — $ 1,134 $3,685 $ 965 $ 642 $ — $ — $6,126 $ (749) $ — $3,699 $ — $7,068 $ 9,963 $32,607 Non-comparableadjustments — (74) — (1,134) (3,685) (965) (642) — — (6,126) — — — — — — (12,626) Comparable hotelEBITDA $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ (749) $ — $3,699 $ — $7,068 $ 9,963 $19,981 URBANPROPERTIES: Hotel EBITDAincluding amountsattributable tononcontrollinginterest $ 3,232 $ — $ 1,006 $ — $ — $ — $ — $3,390 $ 1,557 $ — $ — $ — $ — $(2,152)$ — $ — $ 7,033 Non-comparableadjustments — — — — — — — — (1,557) — — — — — — — (1,557) Comparable hotelEBITDA $ 3,232 $ — $ 1,006 $ — $ — $ — $ — $3,390 $ — $ — $ — $ — $ — $(2,152)$ — $ — $ 5,476 40

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Exhibit 1 COMPARABLE HOTEL EBITDA BY LOAN POOL (in thousands) (unaudited) Three Months Ended December 31, 2025 CapitalHiltonWashingtonD.C. HiltonLa JollaTorreyPines SofitelChicagoMagnificentMile BardessonoHotel andSpa PierHouseResort &Spa HotelYountville ParkHyattBeaverCreekResort &Spa TheNotaryHotel TheClancy The Ritz-CarltonSarasota The Ritz-CarltonLakeTahoe MarriottSeattleWaterfront The Ritz-CarltonSt.Thomas CameoBeverlyHills The Ritz-CarltonReserveDoradoBeach FourSeasonsResortScottsdale HotelTotal Aareal (Capital Hilton) $ 3,232 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 3,232 JPMorgan Chase (see footnote 3)— — 1,006 — — — — 3,390 — — — — — — 7,068 — 11,464 BAML — — — — — — — — — — — — 3,699 — — — 3,699 BAML (The Ritz-Carlton LakeTahoe) (see footnote 4) — — — — — — — — — — (749) — — — — — (749) Aareal (Four Seasons ResortScottsdale) (see footnote 5) — — — — — — — — — — — — — — — 9,963 9,963 Unencumbered (Cameo BeverlyHills) — — — — — — — — — — — — — (2,152) — — (2,152) Total $ 3,232 $ — $ 1,006 $ — $ — $ — $ — $ 3,390 $ — $ — $ (749) $ — $ 3,699 $(2,152)$ 7,068 $ 9,963 $25,457 NOTES: (1) The above comparable information assumes the eight hotel properties owned and included in the Company's operations at September 30, 2026, were owned as of the beginning of each of the periods presented. (2) Rooms revenue, RevPAR, occupancy and ADR include the full results reported to us by our hotel managers for residences that we do not own but that are managed in connection with The Ritz-Carlton Lake Tahoe and The Ritz-Carlton Reserve Dorado Beach hotels. (3) This mortgage loan is secured by The Ritz-Carlton Reserve Dorado Beach, Sofitel Chicago Magnificent Mile and The Notary Hotel. (4) On October 13, 2026, we amended this mortgage loan, extending the maturity date from October 2026 to November 2026. On October 30, 2026, we refinanced this mortgage loan into a new $60.0 million mortgage loan with an additional $15.0 million available to be drawn subject to certain conditions. The new mortgage loan is interest only and bears interest at a rate of SOFR + 2.65% with a floor of 5.30%, has a three-year initial term, and two one-year extension options, subject to satisfaction of certain conditions. (5) As of September 30, 2026, this property was held for sale. The sale of the property closed on October 28, 2026. 41

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Exhibit 1 BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES RECONCILIATION OF NET INCOME (LOSS) TO HOTEL EBITDA (in thousands) (unaudited) Three Months Ended September 30, 2025 CapitalHiltonWashingtonD.C. HiltonLa JollaTorreyPines SofitelChicagoMagnificentMile BardessonoHotel andSpa PierHouseResort& Spa HotelYountville ParkHyattBeaverCreekResort &Spa TheNotaryHotel TheClancy The Ritz-CarltonSarasota TheRitz-CarltonLakeTahoe MarriottSeattleWaterfront The Ritz-CarltonSt.Thomas CameoBeverlyHills The Ritz-CarltonReserveDoradoBeach FourSeasonsResortScottsdale HotelTotal Corporate/ Allocated BraemarHotels &ResortsInc. Net income (loss)$ (2,996)$1,190 $ 1,512 $ 1,167 $1,140 $ 537 $(1,134)$ 896 $ 853 $(1,211) $ (48) $ 43,113 $(1,731)$(2,251)$(1,650)$(5,622)$33,765 $(29,042)$ 4,723 Non-propertyadjustments 22 73 — — — — — — — — — (41,043) — — — 364 (40,584) 40,584 — Interest income (52) (1) (24) — — — — (34) (75) (39) (3) (11) (96) — (10) (55) (400) 400 — Interest expense 2,282 — — — — — 1,295 — — 135 840 8 — — — 3,133 7,693 14,769 22,462 Amortization ofloan cost 147 — — — 35 — — — — — 38 — — — — 309 529 2,197 2,726 Depreciation andamortization 2,819 — 1,095 766 401 656 1,859 1,380 1,372 2,308 2,487 672 1,384 1,106 2,069 2,790 23,164 — 23,164 Income taxexpense (benefit) 73 — — — — — — 5 — — — — (19) — (60) — (1) (647) (648) Non-hotelEBITDAownership expense 68 124 123 125 10 12 22 1 6 480 327 20 4 38 (1) 37 1,396 (1,396) — Hotel EBITDAincluding amountsattributable tononcontrollinginterest 2,363 1,386 2,706 2,058 1,586 1,205 2,042 2,248 2,156 1,673 3,641 2,759 (458) (1,107) 348 956 25,562 26,865 52,427 Less: EBITDAadjustmentsattributable toconsolidatednoncontrollinginterest (590) (347) — — — — — — — — — — — — — — (937) 937 — Equity in earnings(loss) ofunconsolidatedentities — — — — — — — — — — — — — — — — — — — Hotel EBITDAattributable to theCompany and OPunitholders $ 1,773 $1,039 $ 2,706 $ 2,058 $1,586 $ 1,205 $ 2,042 $2,248 $2,156 $ 1,673 $3,641 $ 2,759 $ (458) $(1,107)$ 348 $ 956 $24,625 $ 27,802 $52,427 Non-comparableadjustments — (1,386) — (2,058) (1,586) (1,205) (2,042) — (2,156) (1,673) — (2,759) — — — — (14,865) Comparable hotelEBITDA $ 2,363 $ — $ 2,706 $ — $ — $ — $ — $2,248 $ — $ — $3,641 $ — $ (458) $(1,107)$ 348 $ 956 $10,697 RESORTPROPERTIES: Hotel EBITDAincluding amountsattributable tononcontrollinginterest $ — $1,386 $ — $ 2,058 $1,586 $ 1,205 $ 2,042 $ — $ — $ 1,673 $3,641 $ — $ (458) $ — $ 348 $ 956 $14,437 Non-comparableadjustments — (1,386) — (2,058) (1,586) (1,205) (2,042) — — (1,673) — — — — — — (9,950) Comparable hotelEBITDA $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $3,641 $ — $ (458) $ — $ 348 $ 956 $ 4,487 URBANPROPERTIES: Hotel EBITDAincluding amountsattributable tononcontrollinginterest $ 2,363 $ — $ 2,706 $ — $ — $ — $ — $2,248 $2,156 $ — $ — $ 2,759 $ — $(1,107)$ — $ — $11,125 Non-comparableadjustments — — — — — — — — (2,156) — — (2,759) — — — — (4,915) Comparable hotelEBITDA $ 2,363 $ — $ 2,706 $ — $ — $ — $ — $2,248 $ — $ — $ — $ — $ — $(1,107)$ — $ — $ 6,210 NOTES: (1) The above comparable information assumes the eight hotel properties owned and included in the Company's operations at September 30, 2026, were owned as of the beginning of each of the periods presented. (2) Rooms revenue, RevPAR, occupancy and ADR include the full results reported to us by our hotel managers for residences that we do not own but that are managed in connection with The Ritz-Carlton Lake Tahoe and The Ritz-Carlton Reserve Dorado Beach hotels. 42

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Exhibit 1 BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES RECONCILIATION OF NET INCOME (LOSS) TO HOTEL EBITDA (in thousands) (unaudited) Nine Months Ended September 30, 2026 CapitalHiltonWashingtonD.C. HiltonLaJollaTorreyPines SofitelChicagoMagnificentMile BardessonoHotel andSpa Pier HouseResort &Spa HotelYountville ParkHyattBeaverCreekResort &Spa TheNotaryHotel TheClancy The Ritz-CarltonSarasota The Ritz-CarltonLakeTahoe MarriottSeattleWaterfront The Ritz-CarltonSt.Thomas CameoBeverlyHills The Ritz-CarltonReserveDoradoBeach FourSeasonsResortScottsdale Hotel Total Corporate /Allocated BraemarHotels &Resorts Inc. Net income(loss) $ (2,529)$ 6 $ 6,303 $ 14,031 $119,531 $(6,589)$20,147 $ 6,780 $(72) $159,915 $(2,523)$ 53 $17,422 $(7,003)$13,682 $(2,083)$337,071 $(561,479)$(224,408) Non-propertyadjustments (24) — — (13,616)(108,742) 6,337 (16,939) — 54 (144,431) — — — — — — (277,361) 277,361 — Interest income (163) — (12) — — — — (100) — (86) (6) — (216) — (45) (123) (751) 751 — Interest expense6,221 — — — — — 1,856 — — 271 2,278 — — — — 9,102 19,728 31,655 51,383 Amortization ofloan cost 474 — — — — — — — — — 103 — — — — 662 1,239 5,289 6,528 Depreciationandamortization 8,175 — 3,332 1,644 883 1,602 3,433 3,978 — 4,330 8,141 — 4,308 5,556 6,514 8,726 60,622 1 60,623 Income taxexpense(benefit) 1 — — — — — — 15 — — — — (7,002) — 997 — (5,989) 131 (5,858) Non-hotelEBITDAownershipexpense 1 — 324 283 56 31 313 11 18 829 728 — 611 289 34 24 3,552 (3,552) — Hotel EBITDAincludingamountsattributable tononcontrollinginterest 12,156 6 9,947 2,342 11,728 1,381 8,810 10,684 — 20,828 8,721 53 15,123 (1,158) 21,182 16,308 138,111 (249,843) (111,732) Less: EBITDAadjustmentsattributable toconsolidatednoncontrollinginterest — — — — — — — — — — — — — — — — — — — Equity inearnings (loss)ofunconsolidatedentities — — — — — — — — — — — — — — — — — 31 31 Hotel EBITDAattributable tothe Companyand OPunitholders $ 12,156 $ 6 $ 9,947 $ 2,342 $ 11,728 $ 1,381 $ 8,810 $10,684 $ — $ 20,828 $ 8,721 $ 53 $15,123 $(1,158)$21,182 $16,308 $138,111 $(249,812)$(111,701) Non-comparableadjustments — (6) — (2,342) (11,728) (1,381) (8,810) — — (20,828) — (53) — — — — (45,148) Comparablehotel EBITDA$ 12,156 $ — $ 9,947 $ — $ — $ — $ — $10,684 $ — $ — $ 8,721 $ — $15,123 $(1,158)$21,182 $16,308 $ 92,963 RESORTPROPERTIES: Hotel EBITDAincludingamountsattributable tononcontrollinginterest $ — $ 6 $ — $ 2,342 $ 11,728 $ 1,381 $ 8,810 $ — $ — $ 20,828 $ 8,721 $ — $15,123 $ — $21,182 $16,308 $106,429 Non-comparableadjustments — (6) — (2,342) (11,728) (1,381) (8,810) — — (20,828) — — — — — — (45,095) Comparablehotel EBITDA$ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 8,721 $ — $15,123 $ — $21,182 $16,308 $ 61,334 URBANPROPERTIES: Hotel EBITDAincludingamountsattributable tononcontrollinginterest $ 12,156 $ — $ 9,947 $ — $ — $ — $ — $10,684 $ — $ — $ — $ 53 $ — $(1,158)$ — $ — $ 31,682 Non-comparableadjustments — — — — — — — — — — — (53) — — — — (53) Comparablehotel EBITDA$ 12,156 $ — $ 9,947 $ — $ — $ — $ — $10,684 $ — $ — $ — $ — $ — $(1,158)$ — $ — $ 31,629 NOTES: (1) The above comparable information assumes the eight hotel properties owned and included in the Company's operations at September 30, 2026, were owned as of the beginning of each of the periods presented. (2) Rooms revenue, RevPAR, occupancy and ADR include the full results reported to us by our hotel managers for residences that we do not own but that are managed in connection with The Ritz-Carlton Lake Tahoe and The Ritz-Carlton Reserve Dorado Beach hotels. 43

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Exhibit 1 BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES RECONCILIATION OF NET INCOME (LOSS) TO HOTEL EBITDA (in thousands) (unaudited) Nine Months Ended September 30, 2025 CapitalHiltonWashingtonD.C. HiltonLa JollaTorreyPines SofitelChicagoMagnificentMile BardessonoHotel andSpa PierHouseResort &Spa HotelYountville ParkHyattBeaverCreekResort &Spa TheNotaryHotel TheClancy The Ritz-CarltonSarasota The Ritz-CarltonLakeTahoe MarriottSeattleWaterfront The Ritz-CarltonSt.Thomas CameoBeverlyHills The Ritz-CarltonReserveDoradoBeach FourSeasonsResortScottsdale Hotel Total Corporate/ Allocated BraemarHotels &ResortsInc. Net income(loss) $ (2,832)$1,076 $ 1,727 $ 898 $ 9,183 $ 258 $ 1,251 $4,109 $3,315 $12,112 $(1,811) $ 45,787 $ 9,283 $(4,789)$ 7,028 $ (19) $ 86,576 $(78,022)$ 8,554 Non-propertyadjustments 2 73 — — — — — — — — — (41,043) — — 866 364 (39,738) 39,738 — Interest income (125) (10) (27) — — — — (91) (210) (109) (15) (68) (288) — (27) (159) (1,129) 1,129 — Interest expense6,772 — — — — — 3,843 — — 421 2,527 48 — — 1,031 8,817 23,459 44,372 67,831 Amortization ofloan cost 430 — — — 103 — — — — — 100 — — — 135 810 1,578 5,967 7,545 Depreciationand amortization8,682 — 3,318 2,238 1,209 1,819 4,963 4,009 4,565 6,309 7,616 4,119 4,131 2,673 6,067 8,201 69,919 — 69,919 Income taxexpense(benefit) 123 — — — — — — 16 — — — — (131) — 307 — 315 159 474 Non-hotelEBITDAownershipexpense 578 177 196 431 47 15 60 50 11 254 880 30 9 304 31 43 3,116 (3,116) — Hotel EBITDAincludingamountsattributable tononcontrollinginterest 13,630 1,316 5,214 3,567 10,542 2,092 10,117 8,093 7,681 18,987 9,297 8,873 13,004 (1,812) 15,438 18,057 144,096 10,227 154,323 Less: EBITDAadjustmentsattributable toconsolidatednoncontrollinginterest (3,408) (329) — — — — — — — — — — — — — — (3,737) 3,737 — Equity inearnings (loss)ofunconsolidatedentities — — — — — — — — — — — — — — — — — — — Hotel EBITDAattributable tothe Companyand OPunitholders $ 10,222 $ 987 $ 5,214 $ 3,567 $10,542 $ 2,092 $10,117 $8,093 $7,681 $18,987 $ 9,297 $ 8,873 $13,004 $(1,812)$15,438 $18,057 $140,359 $ 13,964 $154,323 Non-comparableadjustments — (1,316) — (3,567)(10,542) (2,092)(10,117) — (7,681)(18,987) — (8,873) — — — — (63,175) Comparablehotel EBITDA$ 13,630 $ — $ 5,214 $ — $ — $ — $ — $8,093 $ — $ — $ 9,297 $ — $13,004 $(1,812)$15,438 $18,057 $ 80,921 RESORTPROPERTIES: Hotel EBITDAincludingamountsattributable tononcontrollinginterest $ — $1,316 $ — $ 3,567 $10,542 $ 2,092 $10,117 $ — $ — $18,987 $ 9,297 $ — $13,004 $ — $15,438 $18,057 $102,417 Non-comparableadjustments — (1,316) — (3,567)(10,542) (2,092)(10,117) — — (18,987) — — — — — — (46,621) Comparablehotel EBITDA$ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 9,297 $ — $13,004 $ — $15,438 $18,057 $ 55,796 URBANPROPERTIES: Hotel EBITDAincludingamountsattributable tononcontrollinginterest $ 13,630 $ — $ 5,214 $ — $ — $ — $ — $8,093 $7,681 $ — $ — $ 8,873 $ — $(1,812)$ — $ — $ 41,679 Non-comparableadjustments — — — — — — — — (7,681) — — (8,873) — — — — (16,554) Comparablehotel EBITDA$ 13,630 $ — $ 5,214 $ — $ — $ — $ — $8,093 $ — $ — $ — $ — $ — $(1,812)$ — $ — $ 25,125 NOTES: (1) The above comparable information assumes the eight hotel properties owned and included in the Company's operations at September 30, 2026, were owned as of the beginning of each of the periods presented. (2) Rooms revenue, RevPAR, occupancy and ADR include the full results reported to us by our hotel managers for residences that we do not own but that are managed in connection with The Ritz-Carlton Lake Tahoe and The Ritz-Carlton Reserve Dorado Beach hotels. 44

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Three Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance THE CLANCY Selected Financial Information: Rooms revenue $ — $ — $ — $ 8,881 $ (8,881) $ — (100.00)% — % Total hotel revenue $ — $ — $ — $ 10,504 $ (10,504) $ — (100.00)% — % Hotel net income (loss) $ (57) $ 57 $ — $ 853 $ (853) $ — (106.68)% — % Hotel net income (loss) margin — % — % 8.12 % — % (8.12)% — % Hotel EBITDA $ — $ — $ — $ 2,156 $ (2,156) $ — (100.00)% — % Hotel EBITDA margin — % — % 20.53 % — % (20.53)% — % Selected Operating Information: RevPAR $ — $ — $ — $ 235.44 $ 235.44 $ — (100.00)% — % Occupancy — % — % — % 74.91 % 74.91 % — % (100.00)% — % ADR $ — $ — $ — $ 314.30 $ 314.30 $ — (100.00)% — % THE RITZ-CARLTON SARASOTA Selected Financial Information: Rooms revenue $ 1,282 $ (1,282) $ — $ 5,952 $ (5,952) $ — (78.46)% — % Total hotel revenue $ 2,870 $ (2,870) $ — $ 15,906 $ (15,906) $ — (81.96)% — % Hotel net income (loss) $ 143,447 $ (143,447) $ — $ (1,211) $ 1,211 $ — 11,945.33 % — % Hotel net income (loss) margin 4,998.15 % — % (7.61)% — % 5,005.76 % — % Hotel EBITDA $ 462 $ (462) $ — $ 1,673 $ (1,673) $ — (72.38)% — % Hotel EBITDA margin 16.10 % — % 10.52 % — % 5.58 % — % Selected Operating Information: RevPAR $ 390.39 $ 390.39 $ — $ 234.39 $ 234.39 $ — 66.56 % — % Occupancy 71.05 % 71.05 % — % 53.09 % 53.09 % — % 33.83 % — % ADR $ 549.46 $ 549.46 $ — $ 441.52 $ 441.52 $ — 24.45 % — % THE RITZ-CARLTON LAKE TAHOE Selected Financial Information: Rooms revenue $ 8,295 $ — $ 8,295 $ 7,738 $ — $ 7,738 7.20 % 7.20 % Total hotel revenue $ 16,540 $ — $ 16,540 $ 16,254 $ — $ 16,254 1.76 % 1.76 % Hotel net income (loss) $ 230 $ — $ 230 $ (48) $ — $ (48) 579.17 % 579.17 % Hotel net income (loss) margin 1.39 % 1.39 % (0.30)% (0.30)% 1.69 % 1.69 % Hotel EBITDA $ 4,060 $ — $ 4,060 $ 3,641 $ — $ 3,641 11.51 % 11.51 % Hotel EBITDA margin 24.55 % 24.55 % 22.40 % 22.40 % 2.15 % 2.15 % Selected Operating Information: RevPAR $ 492.72 $ — $ 492.72 $ 459.61 $ — $ 459.61 7.20 % 7.20 % Occupancy 63.63 % — % 63.63 % 67.30 % — % 67.30 % (5.45)% (5.45)% ADR $ 774.40 $ — $ 774.40 $ 682.91 $ — $ 682.91 13.40 % 13.40 % MARRIOTT SEATTLE WATERFRONT Selected Financial Information: Rooms revenue $ — $ — $ — $ 4,982 $ (4,982) $ — (100.00)% — % Total hotel revenue $ — $ — $ — $ 6,133 $ (6,133) $ — (100.00)% — % Hotel net income (loss) $ 22 $ (22) $ — $ 43,113 $ (43,113) $ — (99.95)% — % Hotel net income (loss) margin — % — % 702.97 % — % (702.97)% — % Hotel EBITDA $ 22 $ (22) $ — $ 2,759 $ (2,759) $ — (99.20)% — % Hotel EBITDA margin — % — % 44.99 % — % (44.99)% — % Selected Operating Information: RevPAR $ — $ — $ — $ 365.41 $ 365.41 $ — (100.00)% — % Occupancy — % — % — % 88.50 % 88.50 % — % (100.00)% — % ADR $ — $ — $ — $ 412.89 $ 412.89 $ — (100.00)% — % 17

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Three Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance THE RITZ-CARLTON ST. THOMAS Selected Financial Information: Rooms revenue $ 5,959 $ — $ 5,959 $ 6,117 $ — $ 6,117 (2.58)% (2.58)% Total hotel revenue $ 11,264 $ — $ 11,264 $ 10,241 $ — $ 10,241 9.99 % 9.99 % Hotel net income (loss) $ 5,682 $ — $ 5,682 $ (1,731) $ — $ (1,731) 428.25 % 428.25 % Hotel net income (loss) margin 50.44 % 50.44 % (16.90)% (16.90)% 67.34 % 67.34 % Hotel EBITDA $ (913) $ — $ (913) $ (458) $ — $ (458) (99.34)% (99.34)% Hotel EBITDA margin (8.11)% (8.11)% (4.47)% (4.47)% (3.64)% (3.64)% Selected Operating Information: RevPAR $ 359.87 $ — $ 359.87 $ 369.38 $ — $ 369.38 (2.57)% (2.57)% Occupancy 47.71 % — % 47.71 % 46.55 % — % 46.55 % 2.49 % 2.49 % ADR $ 754.36 $ — $ 754.36 $ 793.47 $ — $ 793.47 (4.93)% (4.93)% CAMEO BEVERLY HILLS Selected Financial Information: Rooms revenue $ 3,327 $ — $ 3,327 $ 1,872 $ — $ 1,872 77.72 % 77.72 % Total hotel revenue $ 3,975 $ — $ 3,975 $ 2,365 $ — $ 2,365 68.08 % 68.08 % Hotel net income (loss) $ (2,050) $ — $ (2,050) $ (2,251) $ — $ (2,251) 8.93 % 8.93 % Hotel net income (loss) margin (51.57)% (51.57)% (95.18)% (95.18)% 43.61 % 43.61 % Hotel EBITDA $ (359) $ — $ (359) $ (1,107) $ — $ (1,107) 67.57 % 67.57 % Hotel EBITDA margin (9.03)% (9.03)% (46.81)% (46.81)% 37.78 % 37.78 % Selected Operating Information: RevPAR $ 260.14 $ — $ 260.14 $ 142.30 $ — $ 142.30 82.81 % 82.81 % Occupancy 75.74 % — % 75.74 % 52.91 % — % 52.91 % 43.15 % 43.15 % ADR $ 343.45 $ — $ 343.45 $ 268.94 $ — $ 268.94 27.71 % 27.71 % THE RITZ-CARLTON RESERVE DORADO BEACH Selected Financial Information: Rooms revenue $ 9,995 $ — $ 9,995 $ 8,735 $ — $ 8,735 14.42 % 14.42 % Total hotel revenue $ 16,301 $ — $ 16,301 $ 14,677 $ — $ 14,677 11.06 % 11.06 % Hotel net income (loss) $ (1,543) $ — $ (1,543) $ (1,650) $ — $ (1,650) 6.48 % 6.48 % Hotel net income (loss) margin (9.47)% (9.47)% (11.24)% (11.24)% 1.77 % 1.77 % Hotel EBITDA $ 720 $ — $ 720 $ 348 $ — $ 348 106.90 % 106.90 % Hotel EBITDA margin 4.42 % 4.42 % 2.37 % 2.37 % 2.05 % 2.05 % Selected Operating Information: RevPAR $ 1,024.93 $ — $ 1,024.93 $ 895.75 $ — $ 895.75 14.42 % 14.42 % Occupancy 57.10 % — % 57.10 % 57.05 % — % 57.05 % 0.09 % 0.09 % ADR $ 1,795.10 $ — $ 1,795.10 $ 1,569.98 $ — $ 1,569.98 14.34 % 14.34 % FOUR SEASONS RESORT SCOTTSDALE Selected Financial Information: Rooms revenue $ 4,273 $ — $ 4,273 $ 4,336 $ — $ 4,336 (1.45)% (1.45)% Total hotel revenue $ 9,341 $ — $ 9,341 $ 9,397 $ — $ 9,397 (0.60)% (0.60)% Hotel net income (loss) $ (7,282) $ — $ (7,282) $ (5,622) $ — $ (5,622) (29.53)% (29.53)% Hotel net income (loss) margin (77.96)% (77.96)% (59.83)% (59.83)% (18.13)% (18.13)% Hotel EBITDA $ (1,089) $ — $ (1,089) $ 956 $ — $ 956 (213.91)% (213.91)% Hotel EBITDA margin (11.66)% (11.66)% 10.17 % 10.17 % (21.83)% (21.83)% Selected Operating Information: RevPAR $ 221.18 $ — $ 221.18 $ 224.43 $ — $ 224.43 (1.45)% (1.45)% Occupancy 40.94 % — % 40.94 % 42.57 % — % 42.57 % (3.83)% (3.83)% ADR $ 540.22 $ — $ 540.22 $ 527.18 $ — $ 527.18 2.47 % 2.47 % 18

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Three Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance RESORT PROPERTIES TOTAL Selected Financial Information: Rooms revenue $ 33,147 $ (4,625) $ 28,522 $ 47,599 $ (20,673) $ 26,926 (30.36)% 5.93 % Total hotel revenue $ 60,907 $ (7,461) $ 53,446 $ 91,825 $ (41,256) $ 50,569 (33.67)% 5.69 % Hotel net income (loss) $ 256,979 $ (259,892) $ (2,913) $ (7,362) $ (1,689) $ (9,051) 3,590.61 % 67.82 % Hotel net income (loss) margin 421.92 % (5.45)% (8.02)% (17.90)% 429.94 % 12.45 % Hotel EBITDA $ 4,539 $ (1,761) $ 2,778 $ 14,437 $ (9,950) $ 4,487 (68.56)% (38.09)% Hotel EBITDA margin 7.45 % 5.20 % 15.72 % 8.87 % (8.27)% (3.67)% Selected Operating Information: RevPAR $ 450.37 $ 415.41 $ 456.60 $ 360.55 $ 297.23 $ 431.04 24.91 % 5.93 % Occupancy 55.67 % (79.81)% 51.37 % 55.34 % 57.85 % 52.55 % 0.60 % (2.25)% ADR $ 808.97 $ (520.51) $ 888.85 $ 651.46 $ 513.79 $ 820.20 24.18 % 8.37 % URBAN PROPERTIES TOTAL Selected Financial Information: Rooms revenue $ 31,364 $ — $ 31,364 $ 39,356 $ (13,863) $ 25,493 (20.31)% 23.03 % Total hotel revenue $ 41,790 $ — $ 41,790 $ 52,760 $ (16,637) $ 36,123 (20.79)% 15.69 % Hotel net income (loss) $ 1,106 $ 35 $ 1,141 $ 41,127 $ (43,966) $ (2,839) (97.31)% 140.19 % Hotel net income (loss) margin 2.65 % 2.73 % 77.95 % (7.86)% (75.30)% 10.59 % Hotel EBITDA $ 10,157 $ (22) $ 10,135 $ 11,125 $ (4,915) $ 6,210 (8.70)% 63.20 % Hotel EBITDA margin 24.30 % 24.25 % 21.09 % 17.19 % 3.21 % 7.06 % Selected Operating Information: RevPAR $ 211.48 $ — $ 211.48 $ 196.76 $ 269.95 $ 171.47 7.48 % 23.33 % Occupancy 74.85 % — % 74.85 % 71.78 % 78.52 % 69.45 % 4.28 % 7.78 % ADR $ 282.53 $ — $ 282.53 $ 274.13 $ 343.81 $ 246.92 3.06 % 14.42 % BRAEMAR PROPERTIES TOTAL Selected Financial Information: Rooms revenue $ 64,511 $ (4,625) $ 59,886 $ 86,955 $ (34,536) $ 52,419 (25.81)% 14.24 % Total hotel revenue $ 102,697 $ (7,461) $ 95,236 $ 144,585 $ (57,893) $ 86,692 (28.97)% 9.86 % Hotel net income (loss) $ 258,085 $ (259,857) $ (1,772) $ 33,765 $ (45,655) $ (11,890) 664.36 % 85.10 % Hotel net income (loss) margin 251.31 % (1.86)% 23.35 % (13.72)% 227.96 % 11.86 % Hotel EBITDA $ 14,696 $ (1,783) $ 12,913 $ 25,562 $ (14,865) $ 10,697 (42.51)% 20.72 % Hotel EBITDA margin 14.31 % 13.56 % 17.68 % 12.34 % (3.37)% 1.22 % Selected Operating Information: RevPAR $ 290.72 $ (415.41) $ 284.13 $ 261.88 $ (285.64) $ 248.27 11.01 % 14.44 % Occupancy 68.49 % (79.81)% 67.89 % 65.24 % (66.63)% 64.45 % 4.98 % 5.34 % ADR $ 424.46 $ (520.51) $ 418.50 $ 401.39 $ (428.71) $ 385.22 5.75 % 8.64 % NOTES: (1) The above comparable information assumes the eight hotel properties owned and included in the Company's operations at September 30, 2026, were owned as of the beginning of each of the periods presented. (2) Rooms revenue, total hotel revenue, RevPAR, occupancy and ADR include the full results reported to us by our hotel managers for residences that we do not own but that are managed in connection with the Ritz-Carlton Lake Tahoe and the Ritz-Carlton Reserve Dorado Beach hotels. (3) Resort properties include: Bardessono Hotel and Spa, Pier House Resort & Spa, Hotel Yountville, The Ritz-Carlton Sarasota, The Ritz-Carlton Lake Tahoe, The Ritz-Carlton St. Thomas, The Ritz- Carlton Reserve Dorado Beach, Four Seasons Resort Scottsdale. (4) Urban properties include: Capital Hilton Washington D.C., Sofitel Chicago Magnificent Mile, The Notary Hotel, Cameo Beverly Hills. (5) See Exhibit 1 for reconciliation of net income (loss) to hotel EBITDA. 19

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Nine Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance THE CLANCY Selected Financial Information: Rooms revenue $ — $ — $ — $ 27,536 $ (27,536) $ — (100.00)% — % Total hotel revenue $ — $ — $ — $ 32,524 $ (32,524) $ — (100.00)% — % Hotel net income (loss) $ (72) $ 72 $ — $ 3,315 $ (3,315) $ — (102.17)% — % Hotel net income (loss) margin — % — % 10.19 % — % — % — % Hotel EBITDA $ — $ — $ — $ 7,681 $ (7,681) $ — (100.00)% — % Hotel EBITDA margin — % — % 23.62 % — % — % — % Selected Operating Information: RevPAR $ — $ — $ — $ 246.01 $ 246.01 $ — — % — % Occupancy — % — % — % 72.43 % 72.43 % — % — % — % ADR $ — $ — $ — $ 339.67 $ 339.67 $ — — % — % THE RITZ-CARLTON SARASOTA Selected Financial Information: Rooms revenue $ 26,623 $ (26,623) $ — $ 28,064 $ (28,064) $ — (5.13)% — % Total hotel revenue $ 63,809 $ (63,809) $ — $ 70,323 $ (70,323) $ — (9.26)% — % Hotel net income (loss) $ 159,915 $ (159,915) $ — $ 12,112 $ (12,112) $ — 1,220.30 % — % Hotel net income (loss) margin 250.62 % — % 17.22 % — % 233.40 % — % Hotel EBITDA $ 20,828 $ (20,828) $ — $ 18,987 $ (18,987) $ — 9.70 % — % Hotel EBITDA margin 32.64 % — % 27.00 % — % 5.64 % — % Selected Operating Information: RevPAR $ 500.04 $ 500.04 $ — $ 372.46 $ 372.46 $ — 34.25 % — % Occupancy 78.54 % 78.54 % — % 67.14 % 67.14 % — % 16.98 % — % ADR $ 636.71 $ 636.71 $ — $ 554.77 $ 554.77 $ — 14.77 % — % THE RITZ-CARLTON LAKE TAHOE Selected Financial Information: Rooms revenue $ 24,481 $ — $ 24,481 $ 24,331 $ — $ 24,331 0.62 % 0.62 % Total hotel revenue $ 44,190 $ — $ 44,190 $ 46,325 $ — $ 46,325 (4.61)% (4.61)% Hotel net income (loss) $ (2,523) $ — $ (2,523) $ (1,811) $ — $ (1,811) (39.32)% (39.32)% Hotel net income (loss) margin (5.71)% (5.71)% (3.91)% (3.91)% (1.80)% (1.80)% Hotel EBITDA $ 8,721 $ — $ 8,721 $ 9,297 $ — $ 9,297 (6.20)% (6.20)% Hotel EBITDA margin 19.74 % 19.74 % 20.07 % 20.07 % (0.33)% (0.33)% Selected Operating Information: RevPAR $ 490.01 $ — $ 490.01 $ 487.01 $ — $ 487.01 0.62 % 0.62 % Occupancy 51.92 % — % 51.92 % 57.62 % — % 57.62 % (9.89)% (9.89)% ADR $ 943.85 $ — $ 943.85 $ 845.16 $ — $ 845.16 11.68 % 11.68 % MARRIOTT SEATTLE WATERFRONT Selected Financial Information: Rooms revenue $ — $ — $ — $ 18,443 $ (18,443) $ — (100.00)% — % Total hotel revenue $ — $ — $ — $ 23,768 $ (23,768) $ — (100.00)% — % Hotel net income (loss) $ 53 $ (53) $ — $ 45,787 $ (45,787) $ — (99.88)% — % Hotel net income (loss) margin — % — % 192.64 % — % — % — % Hotel EBITDA $ 53 $ (53) $ — $ 8,873 $ (8,873) $ — (99.40)% — % Hotel EBITDA margin — % — % 37.33 % — % — % — % Selected Operating Information: RevPAR $ — $ — $ — $ 229.32 $ 229.32 $ — — % — % Occupancy — % — % — % 74.90 % 74.90 % — % — % — % ADR $ — $ — $ — $ 306.18 $ 306.18 $ — — % — % 22

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Nine Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance THE RITZ-CARLTON ST. THOMAS Selected Financial Information: Rooms revenue $ 36,916 $ — $ 36,916 $ 32,632 $ — $ 32,632 13.13 % 13.13 % Total hotel revenue $ 59,950 $ — $ 59,950 $ 52,103 $ — $ 52,103 15.06 % 15.06 % Hotel net income (loss) $ 17,422 $ — $ 17,422 $ 9,283 $ — $ 9,283 87.68 % 87.68 % Hotel net income (loss) margin 29.06 % 29.06 % 17.82 % 17.82 % 11.24 % 11.24 % Hotel EBITDA $ 15,123 $ — $ 15,123 $ 13,004 $ — $ 13,004 16.29 % 16.29 % Hotel EBITDA margin 25.23 % 25.23 % 24.96 % 24.96 % 0.27 % 0.27 % Selected Operating Information: RevPAR $ 751.24 $ — $ 751.24 $ 664.06 $ — $ 664.06 13.13 % 13.13 % Occupancy 65.17 % — % 65.17 % 61.82 % — % 61.82 % 5.42 % 5.42 % ADR $ 1,152.69 $ — $ 1,152.69 $ 1,074.24 $ — $ 1,074.24 7.30 % 7.30 % CAMEO BEVERLY HILLS Selected Financial Information: Rooms revenue $ 8,914 $ — $ 8,914 $ 6,660 $ — $ 6,660 33.84 % 33.84 % Total hotel revenue $ 10,925 $ — $ 10,925 $ 8,795 $ — $ 8,795 24.22 % 24.22 % Hotel net income (loss) $ (7,003) $ — $ (7,003) $ (4,789) $ — $ (4,789) (46.23)% (46.23)% Hotel net income (loss) margin (64.10)% (64.10)% (54.45)% (54.45)% (9.65)% (9.65)% Hotel EBITDA $ (1,158) $ — $ (1,158) $ (1,812) $ — $ (1,812) 36.09 % 36.09 % Hotel EBITDA margin (10.60)% (10.60)% (20.60)% (20.60)% 10.00 % 10.00 % Selected Operating Information: RevPAR $ 231.98 $ — $ 231.98 $ 170.62 $ — $ 170.62 35.96 % 35.96 % Occupancy 64.31 % — % 64.31 % 62.85 % — % 62.85 % 2.32 % 2.32 % ADR $ 360.74 $ — $ 360.74 $ 271.49 $ — $ 271.49 32.87 % 32.87 % THE RITZ-CARLTON RESERVE DORADO BEACH Selected Financial Information: Rooms revenue $ 50,451 $ — $ 50,451 $ 43,668 $ — $ 43,668 15.53 % 15.53 % Total hotel revenue $ 76,556 $ — $ 76,556 $ 65,516 $ — $ 65,516 16.85 % 16.85 % Hotel net income (loss) $ 13,682 $ — $ 13,682 $ 7,028 $ — $ 7,028 94.68 % 94.68 % Hotel net income (loss) margin 17.87 % 17.87 % 10.73 % 10.73 % 7.14 % 7.14 % Hotel EBITDA $ 21,182 $ — $ 21,182 $ 15,438 $ — $ 15,438 37.21 % 37.21 % Hotel EBITDA margin 27.67 % 27.67 % 23.56 % 23.56 % 4.11 % 4.11 % Selected Operating Information: RevPAR $ 1,743.43 $ — $ 1,743.43 $ 1,509.07 $ — $ 1,509.07 15.53 % 15.53 % Occupancy 66.47 % — % 66.47 % 63.43 % — % 63.43 % 4.79 % 4.79 % ADR $ 2,622.76 $ — $ 2,622.76 $ 2,379.28 $ — $ 2,379.28 10.23 % 10.23 % FOUR SEASONS RESORT SCOTTSDALE Selected Financial Information: Rooms revenue $ 29,954 $ — $ 29,954 $ 28,382 $ — $ 28,382 5.54 % 5.54 % Total hotel revenue $ 55,686 $ — $ 55,686 $ 54,562 $ — $ 54,562 2.06 % 2.06 % Hotel net income (loss) $ (2,083) $ — $ (2,083) $ (19) $ — $ (19) (10,863.16)% (10,863.16)% Hotel net income (loss) margin (3.74)% (3.74)% (0.03)% (0.03)% (3.71)% (3.71)% Hotel EBITDA $ 16,308 $ — $ 16,308 $ 18,057 $ — $ 18,057 (9.69)% (9.69)% Hotel EBITDA margin 29.29 % 29.29 % 33.09 % 33.09 % (3.80)% (3.80)% Selected Operating Information: RevPAR $ 522.49 $ — $ 522.49 $ 495.06 $ — $ 495.06 5.54 % 5.54 % Occupancy 53.82 % — % 53.82 % 57.78 % — % 57.78 % (6.85)% (6.85)% ADR $ 970.83 $ — $ 970.83 $ 856.84 $ — $ 856.84 13.30 % 13.30 % 23

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Nine Months Ended September 30, Actual Non-comparableAdjustments Comparable Actual Non-comparableAdjustments Comparable Actual Comparable 2026 2026 2026 2025 2025 2025 % Variance % Variance RESORT PROPERTIES TOTAL Selected Financial Information: Rooms revenue $ 212,575 $ (70,773) $ 141,802 $ 211,529 $ (82,516) $ 129,013 0.49 % 9.91 % Total hotel revenue $ 365,236 $ (128,854) $ 236,382 $ 373,762 $ (155,256) $ 218,506 (2.28)% 8.18 % Hotel net income (loss) $ 333,537 $ (307,040) $ 26,497 $ 39,260 $ (24,778) $ 14,482 749.56 % 82.97 % Hotel net income (loss) margin 91.32 % 11.21 % 10.50 % 6.63 % 80.82 % 4.58 % Hotel EBITDA $ 106,429 $ (45,095) $ 61,334 $ 102,417 $ (46,621) $ 55,796 3.92 % 9.93 % Hotel EBITDA margin 29.14 % 25.95 % 27.40 % 25.54 % 1.74 % 0.41 % Selected Operating Information: RevPAR $ 651.29 $ 501.86 $ 764.98 $ 539.95 $ 399.80 $ 695.99 20.62 % 9.91 % Occupancy 63.79 % 71.02 % 58.29 % 61.33 % 62.81 % 59.69 % 4.01 % (2.35)% ADR $ 1,020.99 $ 706.65 $ 1,312.34 $ 880.34 $ 636.50 $ 1,166.04 15.98 % 12.55 % URBAN PROPERTIES TOTAL Selected Financial Information: Rooms revenue $ 87,511 $ — $ 87,511 $ 125,566 $ (45,979) $ 79,587 (30.31)% 9.96 % Total hotel revenue $ 121,223 $ — $ 121,223 $ 169,173 $ (56,292) $ 112,881 (28.34)% 7.39 % Hotel net income (loss) $ 3,532 $ 19 $ 3,551 $ 47,317 $ (49,102) $ (1,785) (92.54)% 298.94 % Hotel net income (loss) margin 2.91 % 2.93 % 27.97 % (1.58)% (25.06)% 4.51 % Hotel EBITDA $ 31,682 $ (53) $ 31,629 $ 41,679 $ (16,554) $ 25,125 (23.99)% 25.89 % Hotel EBITDA margin 26.14 % 26.09 % 24.64 % 22.26 % 1.50 % 3.83 % Selected Operating Information: RevPAR $ 198.64 $ — $ 198.64 $ 198.20 $ 239.03 $ 180.40 0.22 % 10.11 % Occupancy 70.93 % — % 70.93 % 70.93 % 73.46 % 69.83 % — % 1.58 % ADR $ 280.05 $ — $ 280.05 $ 279.43 $ 325.39 $ 258.35 0.22 % 8.40 % BRAEMAR PROPERTIES TOTAL Selected Financial Information: Rooms revenue $ 300,086 $ (70,773) $ 229,313 $ 337,095 $ (128,495) $ 208,600 (10.98)% 9.93 % Total hotel revenue $ 486,459 $ (128,854) $ 357,605 $ 542,935 $ (211,548) $ 331,387 (10.40)% 7.91 % Hotel net income (loss) $ 337,071 $ (307,022) $ 30,049 $ 86,576 $ (73,880) $ 12,696 289.34 % 136.68 % Hotel net income (loss) margin 69.29 % 8.40 % 15.95 % 3.83 % 53.34 % 4.57 % Hotel EBITDA $ 138,111 $ (45,148) $ 92,963 $ 144,096 $ (63,175) $ 80,921 (4.15)% 14.88 % Hotel EBITDA margin 28.39 % 26.00 % 26.54 % 24.42 % 1.85 % 1.58 % Selected Operating Information: RevPAR $ 391.27 $ (501.86) $ 366.36 $ 328.78 $ (322.25) $ 332.94 19.01 % 10.04 % Occupancy 67.89 % (71.02)% 67.19 % 67.26 % (67.95)% 66.83 % 0.94 % 0.54 % ADR $ 576.33 $ (706.65) $ 545.30 $ 488.80 $ (474.25) $ 498.21 17.91 % 9.45 % NOTES: (1) The above comparable information assumes the eight hotel properties owned and included in the Company's operations at September 30, 2026, were owned as of the beginning of each of the periods presented. (2) Rooms revenue, total hotel revenue, RevPAR, occupancy and ADR include the full results reported to us by our hotel managers for residences that we do not own but that are managed in connection with the Ritz-Carlton Lake Tahoe and the Ritz-Carlton Reserve Dorado Beach hotels. (3) Resort properties include: Bardessono Hotel and Spa, Pier House Resort & Spa, Hotel Yountville, The Ritz-Carlton Sarasota, The Ritz-Carlton Lake Tahoe, The Ritz-Carlton St. Thomas, The Ritz- Carlton Reserve Dorado Beach, Four Seasons Resort Scottsdale. (4) Urban properties include: Capital Hilton Washington D.C., Sofitel Chicago Magnificent Mile, The Notary Hotel, Cameo Beverly Hills. (5) See Exhibit 1 for reconciliation of net income (loss) to hotel EBITDA. 24

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