BRANCOUS LP1 CALLS ON BRAEMAR’S BOARD TO STOP ATTACKING SHAREHOLDERS, DISTRIBUTE EXCESS CASH AND RENEGOTIATE THE ASHFORD PAYMENT

Brancous LP1, a shareholder of Braemar Hotels & Resorts, criticizes the Board for wasting company resources attacking shareholders instead of negotiating a lower Ashford termination payment. The shareholder claims the Board is pursuing a 'stealth liquidation' through asset sales to trigger a $480 million Change of Control payment to Ashford, which Brancous estimates at $7.00 per share. Brancous demands the Board declare a special dividend of at least $1.00 per share, renegotiate the Ashford payment, and allow shareholders to elect an independent Board.