RESPONSIBLE BUSINESS REPORT 2024 1 | © NORTHWOOD HOSPITALITY, LLC Updated: 12/31/2024 Northwood Hospitality CONTENTS 3 President’s Letter 4 Executive Summary 7 Recognitions + Achievements 9 Sustainability Strategyand Goals 11 Northwood Hospitality Sustainability in Action 14 Our People PRESIDENT’S LETTER At Northwood Hospitality we are committed to having a robust Corporate Responsibility program that incorporates Responsible Business strategies into our business to increase both the sustainability and the value of our portfolio. Northwood Hospitality continues to drive our sustainability and responsible business strategies through initiatives which seek to capture portfolio-wide analysis of energy, water, and waste, implement energy-efficient technologies and deferred maintenance projects, evaluate renewable project feasibility, increase building certifications like LEED® and ENERGY STAR®, and study additional opportunities to track environmental impact. Northwood Hospitality recognizes the value and importance of a diverse workforce and will continue to identify and attract a workforce of the best available talent at every organizational level. Javier Rosenberg Sincerely, Javier Rosenberg, President EXECUTIVE SUMMARY A building with flags in front of it Description automatically generated NORTHWOODHOSPITALITY RESPONSIBLE BUSINESS REPORT 2024 | 5 WHO IS NORTHWOODHOSPITALITY? Northwood Hospitality is a wholly owned subsidiary of Northwood Investors, a privately-held real estate investment advisor founded in 2006. Northwood Hospitality is an independent hotel management company that performs property and asset management and oversees the executionofcapital projects at Northwood’s hotels. Northwood Hospitality has expertise in managing independent gateway urban hotels as well as resort hotels and has significant experience operating branded and limited-service hotels across a wide array of markets. The full-integrated company includes revenue management, human resources, finance, accounting, VIP sales, procurement, food & beverage, and sales & marketing teams. Tranquility Bay Resort Marathon, FL (103 keys) DuskExterior_817551.jpg Cheeca Lodge Islamorada, FL (214 keys) Marker Key West Key West, FL (96 keys) Parrot Key Resort Key West, FL (148 keys) New York Palace Hotel New York, NY (899 keys) Revere Hotel Boston, MA (356 keys) Alden Hotel Houston, TX (97 keys) London West Hollywood Los Angeles, CA (226 keys) Realized Investments Existing Investments Naples Grande Beach Resort Naples, FL (474 keys) Ballantyne Hotel Charlotte, NC (244 keys) Aloft (136 keys) Staybridge (118 keys) Courtyard (90 keys) Charlotte, NC Amara Resort & Spa Sedona, AZ (100 keys) Image result for amara resort and spa The Darcy Hotel Washington, DC (226 keys) Casitas at Cheeca Lodge Islamorada, FL (10 keys) Planters Inn Charleston, SC (64keys) Conrad Nashville, TN (234keys) A swimming pool with umbrellas and chairs in front of a building AI-generated content may be incorrect. OUR VALUES A restaurant with tables and chairs Description automatically generated A bed with a white sheet and colorful pillows Description automatically generated Integrity We are honest, fair, accountable and respectful Collaboration We are better when we are together Leadership We are empowered to act and make the right decision for our guests and our business Passion We are passionate about hospitality and serving our guests with pride Balance We are focused on a balanced approach for our teams, families, and communities NORTHWOODHOSPITALITY RESPONSIBLE BUSINESS REPORT 2024 | 6 RECOGNITIONS Partner of theYear 2024 Northwood 7 | NORTHWOOD HOSPITALITY RESPONSIBLE BUSINESS REPORT 2024 NORTHWOOD HOSPITALITY RESPONSIBLE BUSINESS REPORT 2024| 8 A building with flags in front of it Description automatically generated GreenBuildingCouncil Northwood Hospitality is a proud endorser of the American Hotel and Lodging Association’s Responsible Stay initiative, which focuses on a commitment to sustainability in four key areas: energy efficiency, reduction of water usage, reduction of waste and responsible sourcing. NWH also serves on the AHLA Sustainability Committee, driving collaboration across the industry on sustainability initiatives. In 2024 4 properties earned Energy Star certification. Northwood Hospitality has earned Energy Star certifications more than 30 times since 2012. Energy Star Logo Aloft Charlotte Ballantyne Our parent company, Northwood Investors, was awarded the Energy Star 2024 Partner of the Year Award for outstanding contributions to energy efficiency for 2023 by the Environmental Protection Agency (EPA). PREVIOUS WINS: 2021, 2022 SUSTAINABILITY STRATEGY& GOALS 9 | NORTHWOOD HOSPITALITY RESPONSIBLE BUSINESS REPORT 2024 A pool with trees in the background Description automatically generated Northwood Hospitality’s sustainability strategy is rooted in seeking to achieve operational eficiency, cost savings, and risk mitigation, which drive the potential for stronger asset performance. GOALS Goal setting is essential for driving positive change, fostering innovation, and ensuring the long- term viability of Northwood Hospitality’s sustainability program. Ourgoals enable Northwood Hospitality to establish a sustainability roadmap, measure year-over- year progress, hold ourselves accountable, and better manage sustainability-related risks and opportunities. Utility Benchmarking: Northwood Hospitality captures utility benchmarking across all properties to provide greater insight into portfolio operational eficiency. Sustainable Building Certification: We believe building certifications like LEED®,ENERGY STAR®,etc. increase property NOI (net operating income), drive accretive value, and appeal to guests. Northwood Hospitality believes these achievements unlock stronger asset performance and enhance the potential for higher returns for our investors.We will continue to pursue certifications, and in 2025 all hotels in the portfolio will achieve certification with Green Key Global which is a best-in-class sustainability process and practice certification for the hotel and lodging industry. NORTHWOOD HOSPITALITY RESPONSIBLE BUSINESS REPORT 2024 | 10 A room with a table and chairs Description automatically generated Energy use (kWh/m) reduction 2025 target 1% from 2024 Water use reduction 2025 target 1% from 2024 Waste kg reduction 2025 collect full year data to provide 2026 target NORTHWOODHOSPITALITY SUSTAINABILITY IN ACTION 11 | NORTHWOOD HOSPITALITY RESPONSIBLE BUSINESS REPORT 2024 A dock leading to a resort Description automatically generated ENVIRONMENTAL CONSIDERATIONS 12 | NORTHWOOD HOSPITALITY RESPONSIBLE BUSINESS REPORT 2024 COMMUNITY IMPACT › Combatting human trafficking training for all NWH employees › Community service projects › Employee philanthropy and match program › Employee volunteer compensation program ›Charitable program to provide financial assistance to employees in need › Leadership development program Northwood’s ongoing commitment to sustainability is evident through the incorporation of strategies that increase both the sustainability and value of its Hospitality portfolio. Northwood Hospitality is a member of the American Hotel and Lodging Association’s Sustainability Committee, incorporating the group’s industry-leading sustainability practices into portfolio operations and management practices. These include initiatives such as: Water conservation practices, including high- eficiency faucets, high-eficiency shower heads, low-flow or high-eficiency toilets, water-eficient laundry practices, linen and terry reuse programs, water-conscious landscaping techniques, eficient pool maintenance, and more. Energy eficiency programs, including LED lighting, door sensors, key-access light controls, HVAC set-point optimization, occupancy sensors, room vacancy eficiency optimization, and more. Waste and plastic reduction eforts, including keyless mobile entry, bulk amenities in guestrooms, recycling programs, and more. PROPERTY HIGHLIGHTS The Ballantyne, a Luxury Collection Hotel Charlotte, North Carolina •Gingerbread Lane is a gingerbread house building contest aimed at raising funds for Levine Children’s Hospital in Charlotte. Contestants, from novice to professional bakers around the community, submit their creations for display. Community attendees and guests attending can donate a minimum of $1 per vote for their favorite creation. All proceeds are donated to the hospital. Over the last 15 years, this fundraiser has earned more than 160k for children inneed. •The CMPD Annual Toy Drive partners team members and guests with the local police department to provide toys to families in need throughout the local area. Conrad Hotel Nashville, Tennessee •Our team serves meals at Room In The Inn in Nashville several times throughout the year. Room In The Inn provides shelter to people experiencing homelessness in the local area. Every October the property hosts “Socktober” sock drive, donating hundreds of pairs of socks to Room In The Inn each year. Charlotte, North Carolina properties •Our team members across 4 Charlotte, NC –area hotels participate in a school supply drive every year, partnering with a local elementary school to provide supplies to kids in need. •The teams also put together hygiene kits each year that support Soldier’s Angels GO CAMO care packages. The London West Hollywood, California •Team members participate in the Annual City of West Hollywood Toy Drive, with all donations benefitting children in the city of West Hollywood. Home Office Denver, Colorado •Our team in Denver volunteeredwith Habitat for Humanity to help build homes and help at the warehouse to prepare materials used on Habitat homes in our community. •Ourteam in Denveralso volunteers to pack meals for children throughFood For Thought, anorganization that packs meals for children to have during the weekend -a time where many children don't have access to meals outside school. 13 | NORTHWOOD HOSPITALITY RESPONSIBLE BUSINESS REPORT 2024 A group of people standing in front of a building with a group of police cars and a fountain Description automatically generated OUR PEOPLE A swimming pool in a building Description automatically generated EMPLOYEES NorthwoodHospitality’s employees are the bedrock of our culture and drive success through their ability to thrive, innovate, and flourish. We recognize that the cultivation of our culture and work environments is not a destination but an ongoing journey—one that demands dedication and foresight. Northwood Hospitality is committed to investing in and cultivating a positive and inclusive workplace environment, which is crucial for long-term growth and prosperity. Since our founding, Northwood Hospitality has steadfastly committed to our team members, as they are integral to our success. We conduct an annual employee engagement survey and act on the feedback provided by our team members. EMPLOYEE ENGAGEMENT SURVEY HIGHLIGHTS 1,023 RESPONSES | 68.2% RESPONSE RATE METRICS AGE COHORTS 18-24: 11.01% 25-34: 27.80% 35-44: 23.61% 45-54: 18.17% 55-64: 14.38% Over 64: 4.40% GENDER RATIO 50.5% FEMALE 49.5% MALE 0% NON-BINARY A pool with umbrellas and chairs in front of a hotel Description automatically generated +17.7% above industry benchmark "team members are likely to recommend as a great place to work" +13.4% above industry benchmark "team members feel as though they are valued" BENEFITS At NorthwoodHospitality, we understand that the contribution of each team member makes our accomplishments possible. Northwood’s benefits package aims to provide a comprehensive program of competitive benefits to attract and retain the best team members. Through our benefits programs, NorthwoodHospitality strives to supportthe needs of our employees and their dependents by providing a benefit package that is easy to understand, easy to access, and afordable for all our employees. PROFESSIONAL DEVELOPMENT AND TRAINING NorthwoodHospitality invests in employee professional development to increase job-related skills and enhance organizational contributions. This includes our robust leadership development program, Northwood Hospitality U and supporting courses like professional certifications, certificate programs, workshops, and memberships in professional trade organizations through conferences and seminars. BENEFITS › PTO, Sick, Holiday, and Personal Leave › 401(k) Matching › Healthcare, Dental and Vision › Parental & Family Medical Leave › Sunshine Fund › Team Member and Friends & Family discount program