Earnings release
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Press Release RLJ Lodging Trust Reports Third Quarter 2026 Results Q3 RevPAR increased 9.7% Adjusted FFO per diluted common share and unit of $0.34 increased 25.9% Adjusted EBITDA of $85.2 million increased 17.3% Increasing full-year outlook Bethesda, MD, November 4, 2026 – RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today reported results for the three and nine months ended September 30, 2026. Third Quarter Highlights • Comparable RevPAR of $153.36, an increase of 9.7% over the prior year • Comparable Hotel Revenue of $354.5 million, an increase of 9.1% over the prior year • Net income of $4.6 million • Comparable Hotel EBITDA of $93.9 million, an increase of 17.5% over the prior year • Comparable Hotel EBITDA Margin of 26.5%, an increase of 190 basis points over the prior year • Adjusted EBITDA of $85.2 million, an increase of 17.3% over the prior year• Adjusted FFO per diluted common share and unit of $0.34, an increase of 25.9% over the prior year “We delivered another strong quarter, with results that once again exceeded our expectations across all metrics. Operating fundamentals accelerated during the quarter, with business travel leading the way alongside sustained strength in leisure and group, which disproportionately benefited our urban markets. As a result, we achieved robust RevPAR growth of 9.7%, outpacing the industry, driven by increases in both demand and rate. The ramp of our conversions and renovations provided additional momentum, which contributed to continued growth in non- room revenues. This robust top-line growth, combined with our disciplined cost control efforts, allowed us to expand margins and grow Hotel EBITDA at nearly twice the pace of revenues,” commented Leslie D. Hale, President and Chief Executive Officer. “Given our third quarter outperformance, strong preliminary results for October, and our expectation that positive trends will carry into the remainder of the year, we are raising our full- year guidance. Overall, against a backdrop of muted supply, demand continues to be supported by a favorable macro backdrop, including healthy corporate earnings and elevated levels of business investment, and we believe our urban-centric portfolio is well positioned to capture these trends.” The prefix “comparable” as defined by the Company, denotes operating results which include results for periods prior to its ownership and excludes sold hotels. Explanations of EBITDA, EBITDAre, Adjusted EBITDA, Hotel EBITDA, Hotel EBITDA Margin, FFO, and Adjusted FFO, as well as reconciliations of those measures to net income or loss, if applicable, are included within this release. 1
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Financial and Operating Highlights ($ in thousands, except ADR, RevPAR, Change, and per share amounts) (unaudited) For the three months ended September 30, For the nine months ended September 30, 2026 2025 Change 2026 2025 Change Operational Overview: (1) Comparable ADR $203.35 $191.16 6.4% $210.32 $201.29 4.5% Comparable Occupancy 75.4% 73.1% 3.1% 74.4% 72.6% 2.4% Comparable RevPAR $153.36 $139.82 9.7% $156.51 $146.21 7.0% Financial Overview: Total Revenue $354,476 $330,045 7.4% $1,077,441 $1,021,267 5.5% Comparable Hotel Revenue $354,470 $324,985 9.1% $1,075,076 $1,004,043 7.1% Net income (loss) $4,576 ($3,798) 220.5% $35,555 $28,005 27.0% Comparable Hotel EBITDA $93,859 $79,880 17.5% $303,039 $275,207 10.1% Comparable Hotel EBITDA Margin 26.5% 24.6% 190 bps 28.2% 27.4% 80 bps Adjusted EBITDA $85,150 $72,583 17.3% $276,415 $254,185 8.7% Adjusted FFO $51,994 $41,103 26.5% $180,040 $160,684 12.0% Adjusted FFO Per Diluted Common Share and Unit $0.34 $0.27 25.9% $1.19 $1.07 11.2% Note: (1) Comparable statistics reflect the Company's 91 hotel portfolio owned as of September 30, 2026. Operational Update Comparable RevPAR increased by 9.7% for the three months ended September 30, 2026, driven by ADR growth of 6.4% and a 230 basis point increase in occupancy. Non-room revenues increased by 6.5%, aided by strong growthin corporate transient and group demand, and reflecting the continued success of the Company’s return-on- investment initiatives. Robust revenue growth and disciplined expense management drove year-over-year Comparable Hotel EBITDA growth of 17.5% and Comparable Hotel EBITDA margin expansion of 190 basis points, contributing to Adjusted EBITDA growth of 17.3% over the prior year period. Midway Portfolio Disposition In October 2026, the Company completed the sale of seven hotel properties located near the Chicago Midway Airport for $110.0 million, which represents a multiple of 13.8x forecasted 2026 Hotel EBITDA, or 16.1x including required capital expenditures. As part of the transaction, RLJ provided $20.0 million of seller financing. Balance Sheet As of September 30, 2026, the Company had over $1.0 billion of total liquidity, comprised of approximately $448.3 million of unrestricted cash and $600.0 million available under its revolving credit facility (the "Revolver"), as well as $2.2 billion of debt outstanding. Dividends The Company’s Board of Trustees declared a quarterly cash dividend of $0.15 per common share of beneficial interest of the Company in the third quarter. The dividend was paid on October 15, 2026 to shareholders of record as of September 30, 2026. 2
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The Company's Board of Trustees declared a third quarter cash dividend of $0.4875 on the Company’s Series A Preferred Shares. The dividend was paid on October 30, 2026 to shareholders of record as of September 30, 2026. 2026 Outlook The Company is updating its full-year outlook to incorporate its third quarter outperformance and improved outlook for the fourth quarter. Comparable RevPAR and Hotel EBITDA outlooks exclude the seven Chicago Midway assets sold subsequent to the third quarter. FY 2026 Comparable RevPAR Growth +5.75% to +6.25% Comparable Hotel EBITDA $377M to $383M Adjusted EBITDA $352M to $358M Adjusted FFO per diluted share $1.47 to $1.51 Additionally, the Company's full year 2026 outlook includes: • Net interest expense in the range of $101.0 million to $103.0 million • Cash corporate G&A in the range of $34.5 million to $35.5 million • Capital expenditures related to renovations in the range of $80.0 million to $90.0 million • Diluted weighted average common shares and units of 151.7 million Potential future acquisitions, dispositions, financings, or share repurchases are not incorporated into the Company's outlook above and could result in a material change to the Company's outlook. Earnings Call The Company will conduct its quarterly analyst and investor conference call on November 5, 2026 at 12:00 p.m. (Eastern Time). The conference call can be accessed by dialing (877) 407-3982 or (201) 493-6780 for international participants and requesting RLJ Lodging Trust’s third quarter earnings conference call. Additionally, a live webcast of the conference call will be available through the Company’s website at http://www.rljlodgingtrust.com. A replay of the conference call webcast will be archived and available through the Investor Relations section of the Company’s website for two weeks. Supplemental Information Please refer to the presentation of supplemental information for additional detail and comparable operating statistics, which will be available through the Investor Relations section of the Company's website. About Us RLJ Lodging Trust ("RLJ") is a self-advised, publicly traded real estate investment trust that owns 84 premium- branded, rooms-oriented, high-margin, focused-service and compact full-service hotels located within the heart of demand locations. We own a geographically diversified portfolio of hotels located in urban markets that exhibitmultiple demand generators and attractive long-term growth prospects. 3
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Forward-Looking Statements This information contains certain statements, other than purely historical information, including estimates,projections, statements relating to the Company’s business plans, objectives and expected operating results, and theassumptions upon which those statements are based, that are “forward-looking statements” within the meaning ofthe Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, andSection 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally are identified by the use of the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “plan,” “may,”“will,” “will continue,” “intend,” “should,” or similar expressions. Although the Company believes that theexpectations reflected in such forward-looking statements are based upon reasonable assumptions, beliefs andexpectations, such forward-looking statements are not predictions of future events or guarantees of futureperformance and our actual results could differ materially from those set forth in the forward-looking statements.Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-lookingstatements, whether as a result of new information, future events or otherwise. The Company cautions investors notto place undue reliance on these forward-looking statements and urges investors to carefully review the disclosures the Company makes concerning risks and uncertainties in the sections entitled “Risk Factors,” “Forward-LookingStatements,” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” inthe Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and the Company's QuarterlyReport on Form 10-Q for the quarter ended September 30, 2026, which will be filed on November 5, 2026, as wellas risks, uncertainties and other factors discussed in other documents filed by the Company with the Securities andExchange Commission. ### Additional Contacts: Leslie D. Hale, President and Chief Executive Officer – (301) 280-7777 Nikhil Bhalla, Chief Financial Officer – (301) 280-7777 For additional information or to receive press releases via email, please visit our website: https://www.rljlodgingtrust.com 4
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RLJ Lodging Trust Non-GAAP and Accounting Commentary Non-Generally Accepted Accounting Principles (“Non-GAAP”) Financial Measures The Company considers the following non-GAAP financial measures useful to investors as key supplemental measures of its performance: (1) FFO, (2) Adjusted FFO, (3) EBITDA, (4) EBITDAre, (5) Adjusted EBITDA, (6) Hotel EBITDA, and (7) Hotel EBITDA Margin. These Non-GAAP financial measures should be considered along with, but not as alternatives to, net income or loss as a measure of its operating performance. FFO, Adjusted FFO, EBITDA, EBITDAre, Adjusted EBITDA, Hotel EBITDA, and Hotel EBITDA Margin, as calculated by the Company, may not be comparable to other companies that do not define such terms exactly as the Company defines such terms. Funds From Operations (“FFO”) The Company calculates Funds from Operations (“FFO”) in accordance with standards established by the National Association of Real Estate Investment Trusts, or NAREIT, which defines FFO as net income or loss, excluding gains or losses from sales of real estate, impairment, the cumulative effect of changes in accounting principles, plus depreciation and amortization, and adjustments for unconsolidated partnerships and joint ventures. Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. Since real estate values have instead historically risen or fallen with market conditions, most real estate industry investors consider FFO to be helpful in evaluating a real estate company’s operations. The Company believes that the presentation of FFO provides useful information to investors regarding the Company’s operating performance and can facilitate comparisons of operating performance between periods and between real estate investment trusts (“REITs”), even though FFO does not represent an amount that accrues directly to common shareholders. The Company’s calculation of FFO may not be comparable to measures calculated by other companies who do not use the NAREIT definition of FFO or do not calculate FFO per diluted share in accordance with NAREIT guidance. Additionally, FFO may not be helpful when comparing the Company to non-REITs. The Company presents FFO attributable to common shareholders, which includes unitholders of limited partnership interest (“OP units”) in RLJ Lodging Trust, L.P., the Company’s operating partnership, because the OP units may be redeemed for common shares of the Company. The Company believes it is meaningful for the investor to understand FFO attributable to all common shares and OP units. EBITDA and EBITDAre Earnings Before Interest, Taxes, Depreciation, and Amortization (“EBITDA”) is defined as net income or loss excluding: (1) interest expense; (2) income tax expense; and (3) depreciation and amortization expense. The Company considers EBITDA useful to an investor in evaluating and facilitating comparisons of its operating performance between periods and between REITs by removing the impact of its capital structure (primarily interest expense) and asset base (primarily depreciation and amortization expense) from its operating results. In addition, EBITDA is used as one measure in determining the value of hotel acquisitions and dispositions. In addition to EBITDA, the Company presents EBITDAre in accordance with NAREIT guidelines, which defines EBITDAre as net income or loss excluding interest expense, income tax expense, depreciation and amortization expense, gains or losses from sales of real estate, impairment, and adjustments for unconsolidated joint ventures. The Company believes that the presentation of EBITDAre provides useful 5
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information to investors regarding the Company's operating performance and can facilitate comparisons of operating performance between periods and between REITs. Adjustments to FFO and EBITDA The Company adjusts FFO, EBITDA, and EBITDAre for certain items that the Company considers outside the normal course of operations. The Company believes that Adjusted FFO, Adjusted EBITDA, and Adjusted EBITDAre provide useful supplemental information to investors regarding its ongoing operating performance that, when considered with net income or loss, FFO, EBITDA, and EBITDAre, are beneficial to an investor’s understanding of the Company's operating performance. The Company adjusts FFO, EBITDA, and EBITDAre for the following items: • Transaction Costs: The Company excludes transaction costs expensed during the period • Pre-Opening Costs: The Company excludes certain costs related to pre-opening of hotels • Non-Cash Expenses: The Company excludes the effect of certain non-cash items such as the amortization of share-based compensation, non-cash income tax expense or benefit, and non-cash interest expense related to discontinued interest rate hedges • Other Non-Operational Expenses: The Company excludes the effect of certain non-operational expenses representing income and expenses outside the normal course of operations Hotel EBITDA and Hotel EBITDA Margin With respect to Comparable Hotel EBITDA, the Company believes that excluding the effect of corporate-level expenses and certain non-cash items provides a more complete understanding of the operating results over which individual hotels and operators have direct control. The Company believes property-level results provide investors with supplemental information about the ongoing operational performance of the Company’s hotels and the effectiveness of third-party management companies. Comparable Hotel EBITDA and Comparable Hotel EBITDA Margin include prior ownership information provided by the sellers of the hotels for periods prior to our acquisition of the hotels and excludes results from sold hotels as applicable. Comparable adjustments: Sold hotels For the three and nine months ended September 30, 2026 and 2025, Comparable adjustments included the following sold hotels: • Courtyard Atlanta Buckhead sold in March 2025 • Embassy Suites by Hilton Dallas-Love Field sold in December 2025 • Residence Inn Houston by the Galleria sold in December 2025 • Hyatt Place Fremont/Silicon Valley sold in June 2026 6
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RLJ Lodging Trust Consolidated Balance Sheets (Amounts in thousands, except share and per share data) (unaudited) September 30, 2026 December 31, 2025 Assets Investment in hotel properties, net $ 3,922,238 $ 4,112,387 Investment in unconsolidated joint ventures 7,234 7,357 Cash and cash equivalents 448,342 410,160 Restricted cash reserves 37,485 31,901 Hotel and other receivables, net of allowance of $208 and $170, respectively 31,568 29,643 Lease right-of-use assets 121,610 123,524 Prepaid expense and other assets 52,344 27,158 Hotel properties held for sale, net 105,847 — Total assets $ 4,726,668 $ 4,742,130 Liabilities and Equity Debt, net $ 2,196,326 $ 2,197,218 Accounts payable and other liabilities 168,505 141,568 Advance deposits and deferred revenue 49,149 51,029 Lease liabilities 118,630 118,189 Accrued interest 5,822 20,532 Distributions payable 31,239 30,934 Liabilities associated with hotel properties held for sale 5,257 — Total liabilities 2,574,928 2,559,470 Equity Shareholders’ equity: Preferred shares of beneficial interest, $0.01 par value, 50,000,000 shares authorized Series A Cumulative Convertible Preferred Shares, $0.01 par value, 12,950,000 shares authorized; 12,879,475 sharesissued and outstanding, liquidation value of $328,266, at September 30, 2026 and December 31, 2025 366,936 366,936 Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 152,336,663 and 151,085,078shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively 1,523 1,511 Additional paid-in capital 2,987,969 2,977,616 Distributions in excess of net earnings (1,230,993) (1,178,456) Accumulated other comprehensive income 13,416 1,919 Total shareholders’ equity 2,138,851 2,169,526 Noncontrolling interests: Noncontrolling interest in the Operating Partnership 5,447 5,696 Noncontrolling interest in consolidated joint ventures 7,442 7,438 Total noncontrolling interest 12,889 13,134 Total equity 2,151,740 2,182,660 Total liabilities and equity $ 4,726,668 $ 4,742,130 Note: The corresponding notes to the consolidated financial statements can be found in the Company’s Quarterly Report on Form 10-Q. 7
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RLJ Lodging Trust Consolidated Statements of Operations (Amounts in thousands, except share and per share data) (unaudited) For the three months ended September 30, For the nine months ended September 30, 2026 2025 2026 2025 Revenues Operating revenues Room revenue $ 288,366 $ 267,367 $ 875,383 $ 831,122 Food and beverage revenue 38,183 36,884 121,635 116,331 Other revenue 27,927 25,794 80,423 73,814 Total revenues 354,476 330,045 1,077,441 1,021,267 Expenses Operating expenses Room expense 78,239 74,685 228,902 220,101 Food and beverage expense 30,693 29,314 93,548 88,978 Management and franchise fee expense 26,826 25,253 81,221 78,848 Other operating expenses 102,640 94,112 298,793 278,610 Total property operating expenses 238,398 223,364 702,464 666,537 Depreciation and amortization 47,723 46,996 142,414 139,147 Property tax, insurance and other 24,636 26,647 78,392 80,340 General and administrative 13,325 11,782 39,728 35,566 Transaction costs 142 128 866 240 Total operating expenses 324,224 308,917 963,864 921,830 Other income, net 1,034 670 2,853 2,706 Interest income 3,666 3,502 9,869 10,118 Interest expense (29,831) (28,309) (85,624) (83,737) Gain (loss) on sale of hotel properties, net 9 (141) (3,754) 802 Loss on extinguishment of indebtedness, net — — (399) (34) Income (loss) before equity in loss from unconsolidated jointventures 5,130 (3,150) 36,522 29,292 Equity in loss from unconsolidated joint ventures (260) (307) (123) (313) Income (loss) before income tax expense 4,870 (3,457) 36,399 28,979 Income tax expense (294) (341) (844) (974) Net income (loss) 4,576 (3,798) 35,555 28,005 Net loss (income) attributable to noncontrolling interests: Noncontrolling interest in the Operating Partnership 6 52 (88) (44) Noncontrolling interest in consolidated joint ventures (14) 10 (4) 118 Net income (loss) attributable to RLJ 4,568 (3,736) 35,463 28,079 Preferred dividends (6,279) (6,279) (18,836) (18,836) Net (loss) income attributable to common shareholders $ (1,711) $ (10,015) $ 16,627 $ 9,243 Basic per common share data: Net (loss) income per share attributable to commonshareholders $ (0.01) $ (0.07) $ 0.10 $ 0.06 Weighted-average number of common shares 149,915,491 149,129,419 149,709,639 149,850,781 Diluted per common share data: Net (loss) income per share attributable to commonshareholders $ (0.01) $ (0.07) $ 0.10 $ 0.06 Weighted-average number of common shares 149,915,491 149,129,419 150,903,798 149,987,216 Note: The Statements of Comprehensive Income and corresponding notes to the consolidated financial statements can be found in the Company’s Quarterly Report on Form 10-Q. 8
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RLJ Lodging Trust Reconciliation of Non-GAAP Measures (Amounts in thousands, except per share data) (unaudited) Funds from Operations (FFO) Attributable to Common Shareholders and Unitholders For the three months ended September 30, For the nine months ended September 30, 2026 2025 2026 2025 Net income (loss) $ 4,576 $ (3,798) $ 35,555 $ 28,005 Preferred dividends (6,279) (6,279) (18,836) (18,836) Depreciation and amortization 47,723 46,996 142,414 139,147 (Gain) loss on sale of hotel properties, net (9) 141 3,754 (802) Noncontrolling interest in consolidated joint ventures (14) 10 (4) 118 Adjustments related to consolidated joint venture (1) (51) (50) (152) (147) Adjustments related to unconsolidated joint venture (2) 222 225 671 706 FFO 46,168 37,245 163,402 148,191 Transaction costs 142 128 866 240 Pre-opening costs (3) 91 69 962 520 Loss on extinguishment of indebtedness, net — — 399 34 Amortization of share-based compensation 4,619 4,043 12,317 11,280 Non-cash income tax expense 18 — — — Non-cash interest expense related to discontinued interest ratehedges (234) 144 (311) 433 Other expenses (income) (4) 1,190 (526) 2,405 (14) Adjusted FFO $ 51,994 $ 41,103 $ 180,040 $ 160,684 Adjusted FFO per common share and unit-basic $ 0.35 $ 0.27 $ 1.20 $ 1.07 Adjusted FFO per common share and unit-diluted $ 0.34 $ 0.27 $ 1.19 $ 1.07 Basic weighted-average common shares and units outstanding (5) 150,686 149,901 150,481 150,623 Diluted weighted-average common shares and units outstanding(5) 153,341 150,117 151,675 150,759 Notes: (1) Includes depreciation and amortization expense allocated to the noncontrolling interest in the consolidated joint venture. (2) Includes our ownership interest in the depreciation and amortization expense of the unconsolidated joint venture. (3) Represents expenses related to the brand conversions of certain hotel properties prior to opening. (4) Represents expenses and income outside of the normal course of operations. (5) Includes 0.8 million weighted-average operating partnership units for the three and nine months ended September 30, 2026 and 2025. 9
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RLJ Lodging Trust Reconciliation of Non-GAAP Measures (Amounts in thousands) (unaudited) Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) For the three months ended September 30, For the nine months ended September 30, 2026 2025 2026 2025 Net income (loss) $ 4,576 $ (3,798) $ 35,555 $ 28,005 Depreciation and amortization 47,723 46,996 142,414 139,147 Interest expense, net of interest income 26,165 24,807 75,755 73,619 Income tax expense 294 341 844 974 Adjustments related to unconsolidated joint venture (1) 359 382 1,144 1,182 EBITDA 79,117 68,728 255,712 242,927 (Gain) loss on sale of hotel properties, net (9) 141 3,754 (802) EBITDAre 79,108 68,869 259,466 242,125 Transaction costs 142 128 866 240 Pre-opening costs (2) 91 69 962 520 Loss on extinguishment of indebtedness, net — — 399 34 Amortization of share-based compensation 4,619 4,043 12,317 11,280 Other expenses (income) (3) 1,190 (526) 2,405 (14) Adjusted EBITDA 85,150 72,583 276,415 254,185 General and administrative (4) 8,729 7,706 26,219 23,761 Other corporate adjustments 414 736 1,199 2,378 Consolidated Hotel EBITDA 94,293 81,025 303,833 280,324 Comparable adjustments - income from sold hotels (434) (1,145) (794) (5,117) Comparable Hotel EBITDA $ 93,859 $ 79,880 $ 303,039 $ 275,207 Notes: (1) Includes our ownership interest in the interest, depreciation, and amortization expense of the unconsolidated joint venture. (2) Represents expenses related to the brand conversions of certain hotel properties prior to opening. (3) Represents expenses and income outside the normal course of operations. (4) Excludes amortization of share-based compensation and general and administrative expenses outside the normal course of operations. 10
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RLJ Lodging Trust Reconciliation of Non-GAAP Measures (Amounts in thousands except margin data) (unaudited) Comparable Hotel EBITDA Margin For the three months ended September 30, For the nine months ended September 30, 2026 2025 2026 2025 Total revenue $ 354,476 $ 330,045 $ 1,077,441 $ 1,021,267 Comparable adjustments - revenue from sold hotels — (5,042) (2,324) (17,171) Other corporate adjustments / non-hotel revenue (6) (18) (41) (53) Comparable Hotel Revenue $ 354,470 $ 324,985 $ 1,075,076 $ 1,004,043 Comparable Hotel EBITDA $ 93,859 $ 79,880 $ 303,039 $ 275,207 Comparable Hotel EBITDA Margin 26.5 % 24.6 % 28.2 % 27.4 % 11
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RLJ Lodging Trust Reconciliation of Non-GAAP Measures - Full-Year Outlook (Amounts in millions) (unaudited) Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) For the year ended December 31, 2026 Low End High End Net income $ 35.6 $ 38.6 Depreciation and amortization 190.0 190.0 Interest expense, net of interest income 101.0 103.0 Income tax expense 1.1 1.1 Adjustments related to joint ventures 1.6 1.6 EBITDA 329.3 334.3 Loss on sale of hotel properties, net 3.8 3.8 EBITDAre 333.1 338.1 Amortization of share-based compensation 16.9 16.9 All other items, net 2.0 3.0 Adjusted EBITDA 352.0 358.0 General and administrative 34.5 35.5 Other corporate adjustments (0.7) (1.7) Consolidated Hotel EBITDA 385.8 391.8 Comparable adjustments - income from sold hotels (8.8) (8.8) Comparable Hotel EBITDA $ 377.0 $ 383.0 Funds from Operations (FFO) Attributable to Common Shareholders and Unitholders For the year ended December 31, 2026 Low End High End Net income $ 35.6 $ 38.6 Preferred dividends (25.1) (25.1) Depreciation and amortization 190.0 190.0 Loss on sale of hotel properties, net 3.8 3.8 Adjustments related to joint ventures 1.0 1.0 FFO 205.3 208.3 Amortization of share-based compensation 16.9 16.9 All other items, net 1.1 4.1 Adjusted FFO $ 223.3 $ 229.3 Adjusted FFO per common share and unit-diluted $ 1.47 $ 1.51 Diluted weighted-average common shares and units outstanding 151.7 151.7 12
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RLJ Lodging Trust Consolidated Debt Summary (Amounts in thousands except interest data) (unaudited) Loan Base Term(Years) Maturity (incl.extensions) Floating / Fixed(1) Interest Rate (2) Balance as ofSeptember 30, 2026 (3) Mortgage Debt Mortgage loan - 1 hotel 10 January 2029 Fixed 5.06% $ 25,841 Mortgage loan - 3 hotels 5 April 2031 Floating 5.21% 91,700 Mortgage loan - 4 hotels 5 April 2031 Floating 5.20% 72,700 Weighted Average / Mortgage Total 5.18% $ 190,241 Corporate Debt Revolver (4) 4 February 2031 Floating — $ — $569 Million Term Loan Maturing 2031 3 February 2031 Floating 5.51% 569,000 $500 Million Term Loan Maturing 2027 3 September 2029 Floating 4.97% 500,000 $500 Million Senior Notes due 2029 8 September 2029 Fixed 4.00% 500,000 $300 Million Term Loan Maturing 2030 3 April 2030 Floating 5.51% 300,000 $150 Million Term Loan Maturing 2033 7 February 2033 Floating 5.91% 150,000 Weighted Average / Corporate Total 5.03% $ 2,019,000 Weighted-Average / Gross Debt 5.05% $ 2,209,241 Notes: (1) The floating interest rate is hedged, or partially hedged, with an interest rate swap or cap. (2) Interest rates as of September 30, 2026, inclusive of the impact of interest rate hedges. (3) Excludes the impact of fair value adjustments and deferred financing costs. (4) As of September 30, 2026, there was $600.0 million of borrowing capacity on the Revolver, which is charged an unused commitment fee of 0.25% annually. 13