#None #Corporate Governance #Braemar Hotels #Pembroke #Al Shams Investments

Significant Board Nominations by Al Shams Investments

In a recent development that could reshape corporate governance, Al Shams Investments Limited, the largest shareholder of Braemar Hotels & Resorts Inc. (NYSE: BHR), has announced its intention to nominate five highly qualified independent candidates for election to Braemar's Board of Directors at the upcoming 2026 Annual Meeting of Shareholders on November 13. The proposals aim to address ongoing concerns about Braemar's governance and performance.

The nominees, who bring decades of diverse experience in real estate, finance, law, and corporate governance, include:

• - Jennifer L. Bitterman: A seasoned real estate finance executive with over 20 years of experience in investment and asset management. Currently serving as the Global Chief Financial Officer of the GSA Group since June 2025, she has held leadership positions at notable firms and possesses extensive knowledge in financial reporting and compliance.

• - Jonathan Klein: With over 30 years in real estate investment, Jonathan is the founder of Westview Capital LLC. He has a wealth of experience in acquisitions and structured finance, managing more than $10 billion in transactions across various markets.

• - Anna Massion: A Non-Executive Director with roles in multiple public companies, Anna has extensive experience in the gaming and entertainment sectors. She has held senior analyst positions and chaired various committees, showcasing her governance skills.

• - Sir Michael Peat: A veteran in finance and royal service, Sir Michael has over two decades of experience with the Royal Household, including serving as Treasurer to The Queen. His extensive background in accounting and governance includes serving on multiple boards.

• - Wayne R. Walker: The founder of Walker Nell Partners, an international business consulting firm, Wayne has served on numerous public and private boards. His expertise in corporate governance and legal matters makes him a potent addition to the board.

Background Context

Al Shams Investments emphasized the need for change, citing a staggering 90% decline in Braemar’s stock price since its spin-off from Ashford Hospitality Trust in November 2013. Shareholders have experienced significant losses, and despite paying substantial fees to external advisors, Braemar has not demonstrated sufficient performance improvements.

In their announcement, Al Shams emphasized that the current board's governance practices have failed to meet shareholder interests. Their nominees are positioned to offer a new direction, focusing on accountability and strategic oversight that aligns with shareholder benefits.

The Road Ahead

Al Shams Investments will file a definitive proxy statement with the U.S. Securities and Exchange Commission to facilitate its nomination process. Shareholders are encouraged to remain informed about the developments regarding the Annual Meeting and the candidates' qualifications.

This move by Al Shams is seen as a pivotal moment for Braemar Hotels, potentially leading to a significant revitalization of the board's composition and a refocused strategy aimed at restoring investor confidence and improving performance.

In conclusion, the nomination of these distinguished individuals highlights the potential for a transformation in Braemar's governance approach. As the Annual Meeting approaches, many eyes will be on how these candidates can influence the strategic direction and overall success of Braemar Hotels & Resorts.