X0306 4 2017-04-11 0 0001474098 Pebblebrook Hotel Trust PEB 0001229310 BORTZ JON E 7315 WISCONSIN AVE, SUITE 1100 WEST BETHESDA MD 20814 1 1 0 0 Chairman, President and CEO Common Shares 2017-04-11 4 S 0 10096 29.663 D 664841 D Common Shares 300 I By Son Common Shares 200000 I By Wife The securities were sold pursuant to a Rule 10b5-1 plan entered into by the reporting person in December 2016. The securities were sold in multiple transactions at prices per share ranging from $29.66 to $29.71, inclusive. The price shown is a weighted average of the per-share prices in those transactions. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reporting person disclaims beneficial ownership of these shares held by an immediate family member sharing his household, and this report should not be deemed an admission that the reporting person is the beneficial owner of such shares for purposes of Section 16 or for any other purpose. /s/ Andrew H Dittamo, as attorney-in-fact for Jon E. Bortz 2017-04-13