Ashford Hospitality Trust advisor extends advisory agreement to January 2041

ASHFORD HOSPITALITY TRUST INC

Advisor (Ashford Inc. and Ashford Hospitality Advisors) exercised right to extend the Advisory Agreement for a 10-year term.
Extended term runs from January 14, 2031 through January 14, 2041; notice delivered December 23, 2025.
All existing terms continue, subject to right to renegotiate Base Fee or Incentive Fee under Section 6.5.
The Advisory Agreement governs Ashford Trust's relationship with its external advisor; no other changes announced.

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