Apple Hospitality Reit, Inc.

(2) Total debt outstanding, net of cash and cash equivalents ( net total debt outstanding ), divided by net total debt outstanding plus equity market capitalization based on the Company’s closing share price of $11.67 on June 30, 2025.

SEC original ↗Apple Hospitality Reit, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Since May 2024, we have invested nearly $78 million in the repurchase of our shares.

SEC original ↗Apple Hospitality Reit, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

While our long-term goal is to grow our portfolio, when our stock trades at an implied discount to values we can achieve in private market transactions, as it has for the past several months, we intend to opportunistically sell assets and redeploy proceeds primarily into additional share repurchases, preserving our balance sheet so that at the appropriate time in the cycle we can act quickly on attractive acquisition opportunities.

SEC original ↗Apple Hospitality Reit, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

• Capital markets: During the three months ended June 30, 2025, the Company purchased, under its Share Repurchase Program, approximately 1.4 million of its common shares at a weighted-average market purchase price of approximately $11.78 per common share, for an aggregate purchase price of approximately $16.9 million.

SEC original ↗Apple Hospitality Reit, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

At June 30, 2025, the Company’s total debt to total capitalization, net of cash and cash equivalents, was approximately 36%.

SEC original ↗Apple Hospitality Reit, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

During the six months ended June 30, 2025, the Company invested approximately $32 million in capital expenditures.

SEC original ↗Apple Hospitality Reit, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Forward-looking statements are typically identified by use of statements that include phrases such as “may,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “target,” “goal,” “plan,” “should,” “will,” “predict,” “potential,” “outlook,” “strategy,” and similar expressions that convey the uncertainty of future events or outcomes.

SEC original ↗Apple Hospitality Reit, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which focuses on improving the disclosures about a public business entity s amounts and types of expenses.

SEC original ↗Apple Hospitality Reit, Inc. — 10-Q Quarterly report10-QAug 5, 2026

The sale of these properties does not represent a strategic shift that has, or will have, a major effect on the Company s operations and financial results; therefore, the operating results for the period of ownership of these properties are included in income from continuing operations for the three and six months ended June 30, 2026 and 2025, as applicable.

SEC original ↗Apple Hospitality Reit, Inc. — 10-Q Quarterly report10-QAug 5, 2026

The Chief Operating Decision Maker ( CODM ) separately evaluates the performance, allocates capital resources and manages the overall operating and investing strategy of each of its hotel properties individually; therefore, the Company considers each hotel to be an operating segment.

SEC original ↗Apple Hospitality Reit, Inc. — 10-Q Quarterly report10-QAug 5, 2026

As anticipated, April was the most challenging month during the quarter, as heightened economic uncertainty, a pullback in government travel, the shift in timing of the Easter holiday and the elongated spring break period all weighed on overall performance.

SEC original ↗Apple Hospitality Reit, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

As a result of the third-party hotel operator's failure to make lease payments, in 2024, the Company commenced legal proceedings to remove the third-party hotel operator from possession of the property.

SEC original ↗Apple Hospitality Reit, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

The Company anticipates investing approximately $80 million to $90 million in capital improvements during 2025, which includes comprehensive renovation projects for approximately 20 hotels, however, inflationary pressures, supply chain shortages or tariffs, among other issues, may result in increased costs and delays for anticipated projects.

SEC original ↗Apple Hospitality Reit, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Looking ahead to the second half of the year, it is encouraging to see modest improvements in consumer sentiment and some easing of uncertainty related to policy changes though economic uncertainty remains elevated.

SEC original ↗Apple Hospitality Reit, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Forward-looking statements are typically identified by use of statements that include phrases such as “may,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “target,” “goal,” “plan,” “should,” “will,” “predict,” “potential,” “outlook,” “strategy,” and similar expressions that convey the uncertainty of future events or outcomes.

SEC original ↗Apple Hospitality Reit, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Such statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.

SEC original ↗Apple Hospitality Reit, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025