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Form 8-K

sec.gov

8-K — HOST HOTELS & RESORTS, INC.

Accession: 0001070750-26-000122

Filed: 2026-08-05

Period: 2026-08-05

CIK: 0001070750

SIC: 6798 (REAL ESTATE INVESTMENT TRUSTS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — hst-20260805.htm (Primary)

EX-99.1 (hst-ex991.htm)

EX-99.2 (hst-supplementalfinanciali.htm)

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8-K

8-K (Primary)

Filename: hst-20260805.htm · Sequence: 1

hst-20260805

false000107075000010707502026-08-052026-08-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_________________________________________________________

FORM 8-K

_________________________________________________________

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): August 5, 2026

_________________________________________________________

HOST HOTELS & RESORTS, INC.

(Exact Name of Registrant as Specified in Charter)

_________________________________________________________

Maryland (Host Hotels & Resorts, Inc.)

001-14625 53-0085950

(State or Other Jurisdiction

of Incorporation) (Commission

File Number) (IRS Employer

Identification No.)

4747 Bethesda Avenue, Suite 1300

Bethesda, Maryland

20814

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (240) 744-1000

_________________________________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class Trading Symbol Name of Each Exchange on

Which Registered

Common Stock, $.01 par value HST The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02. Results of Operations and Financial Condition.

On August 5, 2026, Host Hotels & Resorts, Inc. issued a press release announcing its financial results for the second quarter ended June 30, 2026. The press release referred to supplemental financial information for the quarter that is available on the Company’s website at www.hosthotels.com. A copy of the press release and the supplemental financial information are furnished as Exhibit 99.1 and Exhibit 99.2, respectively, to this Report.

The information in this Report, including the exhibits, is provided under Item 2.02 of Form 8-K and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. Furthermore, the information in this Report, including the exhibits, shall not be deemed to be incorporated by reference into the filings of the registrant under the Securities Act of 1933 regardless of any general incorporation language in such filings.

Item 9.01. Financial Statements and Exhibits

(d)Exhibits

Exhibit No. Description

99.1

Host Hotels & Resorts, Inc.'s earning release for the second quarter 2026.

99.2

Host Hotels & Resorts, Inc. Second Quarter 2026 Supplemental Financial Information.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

HOST HOTELS & RESORTS, INC.

Date: August 5, 2026

By:

/S/ JOSEPH C. OTTINGER

Name: Joseph C. Ottinger

Title: Senior Vice President and Corporate Controller

EX-99.1

EX-99.1

Filename: hst-ex991.htm · Sequence: 2

Document

Exhibit 99.1

SOURAV GHOSH

Chief Financial Officer

(240) 744-5267

JAIME MARCUS

Investor Relations

(240) 744-5117

ir@hosthotels.com

Host Hotels & Resorts, Inc. Reports Results for the Second Quarter of 2026

Delivered Comparable Hotel RevPAR Growth of 7.0% and Comparable Hotel Total RevPAR Growth of 5.9%

Raises Full Year 2026 Comparable Hotel Total RevPAR and RevPAR Growth Guidance Ranges to 4.75% to 5.25%

BETHESDA, Md; August 5, 2026 – Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), today announced results for the second quarter of 2026.

OPERATING RESULTS

(unaudited, in millions, except per share and hotel statistics)

Quarter ended

June 30, Year-to-date ended June 30,

2026 2025 Percent Change 2026 2025 Percent Change

Revenues $ 1,640  $ 1,586  3.4 % $ 3,285  $ 3,180  3.3 %

Comparable hotel revenues⁽¹⁾

1,558  1,471  5.9 % 3,102  2,945  5.3 %

Comparable hotel Total RevPAR⁽¹⁾

417.58  394.27  5.9 % 417.89  396.95  5.3 %

Comparable hotel RevPAR⁽¹⁾

251.53  235.05  7.0 % 247.84  234.41  5.7 %

Net income $ 241  $ 225  7.1 % $ 742  $ 476  55.9 %

EBITDAre⁽¹⁾

519  491  5.7 % 1,056  999  5.7 %

Adjusted EBITDAre⁽¹⁾

525  496  5.8 % 1,068  1,010  5.7 %

Diluted earnings per common share $ 0.35  $ 0.32  9.4 % $ 1.06  $ 0.67  58.2 %

NAREIT FFO per diluted share⁽¹⁾

0.62  0.57  8.8 % 1.28  1.20  6.7 %

Adjusted FFO per diluted share⁽¹⁾

0.63  0.58  8.6 % 1.30  1.21  7.4 %

*Additional detail on the Company’s results, including data for 24 domestic markets, is available in the Second Quarter 2026 Supplemental Financial Information on the Company’s website at www.hosthotels.com.

James F. Risoleo, President and Chief Executive Officer, said, “We are pleased to have delivered a strong second quarter underscoring the success of our capital allocation strategy, the quality of our portfolio, and the continued benefits of reinvesting in our assets. We achieved comparable hotel RevPAR growth of 7.0% for the quarter, driven by solid rate growth across the portfolio, bolstered by the World Cup and broad-based strength in leisure transient demand and group business. Comparable hotel Total RevPAR grew 5.9% year-over-year, driven by leisure transient business as well as increases in food and beverage revenues.

Risoleo continued, "We are encouraged by the durability of demand across our portfolio, as affluent consumers continue to prioritize travel and group demand remains healthy across many of our markets. As a result, we are increasing our 2026 comparable hotel Total RevPAR and RevPAR growth guidance ranges to 4.75% to 5.25% over 2025. We believe our investment-grade balance sheet, strong liquidity, and a diversified portfolio position Host to deliver long-term value, capitalize on favorable industry fundamentals, and selectively pursue growth opportunities.”

_______________________________

(1)NAREIT Funds From Operations (“FFO”) per diluted share, Adjusted FFO per diluted share, EBITDAre, Adjusted EBITDAre and comparable hotel revenues are non-GAAP (U.S. generally accepted accounting principles) financial measures within the meaning of the rules of the Securities and Exchange Commission (“SEC”). See the Notes to Financial Information on why the Company believes these supplemental measures are useful, reconciliations to the most directly comparable GAAP measure, and the limitations on the use of these supplemental measures. Additionally, comparable hotel results and statistics include adjustments for dispositions, acquisitions and non-comparable hotels. See Hotel Operating Data for RevPAR results of the portfolio based on the Company's ownership period without these adjustments.

HOST HOTELS & RESORTS, INC. NEWS RELEASE

August 5, 2026

HIGHLIGHTS:

•Comparable hotel Total RevPAR was $417.58 for the second quarter of 2026, an increase of 5.9% compared to the same period in 2025, driven by increases in room rates and continued growth in food and beverage spend. Growth was broad-based and improved throughout the quarter with markets both hosting and not hosting FIFA World Cup matches demonstrating solid revenue performance. Comparable hotel Total RevPAR year-to-date in 2026 was $417.89, an increase of 5.3%.

•Comparable hotel RevPAR was $251.53, an increase of 7.0%, compared to the same period in 2025, primarily due to increases in room rates, driven by strong transient leisure business, particularly at resorts and in connection with the FIFA World Cup matches, and robust group business. Comparable hotel RevPAR year-to-date in 2026 was $247.84, an increase of 5.7%.

•GAAP net income was $241 million, a 7.1% increase compared to the second quarter of 2025, reflecting GAAP operating profit margin of 17.9%, an improvement of 40 basis points compared to the second quarter of 2025, as higher room rates offset wage expense increases and a $9 million decrease in net gains on insurance settlements. Year-to-date, GAAP net income was $742 million, a 55.9% increase compared to 2025, benefitting from gains on asset sales and GAAP operating profit margin of 18.6%, an improvement of 90 basis points compared to 2025.

•Comparable hotel EBITDA was $497 million, an increase of 7.8% compared to the second quarter of 2025, reflecting a comparable hotel EBITDA margin increase of 60 basis points to 31.9% due to improvements in operations, largely driven by average room rate increases, which offset increases in wage expense, higher incentive management fees, and reductions in operating profit guarantee payments and attrition and cancellation fees over the same period in 2025. Year-to-date, comparable hotel EBITDA was $1,002 million, an increase of 7.4% compared to 2025, while comparable hotel EBITDA margin increased 60 basis points to 32.3%.

•Adjusted EBITDAre was $525 million, an increase of 5.8% compared to the second quarter of 2025. Results benefited from improved operations and comparable hotel EBITDA margins, which more than offset declines due to the sale of six hotels in 2025 and 2026. In addition, the sale of seven villas at the recently completed development adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort contributed $8 million to net income and Adjusted EBITDAre. Year-to-date Adjusted EBITDAre was $1,068 million, exceeding 2025 by 5.7%.

BALANCE SHEET

The Company maintains a robust balance sheet, with the following balances at June 30, 2026:

•Total assets of $13.3 billion.

•Debt balance of $5.1 billion, with a weighted average maturity of 4.7 years, a weighted average interest rate of 4.8%, and no maturities in 2026.

•Total available liquidity of approximately $3.6 billion, including furniture, fixtures and equipment escrow reserves of $156 million and $1.5 billion available under the revolver portion of the credit facility. The payment of the second quarter regular and special dividend on July 15 reduced the cash balance by $630 million.

DIVIDENDS

The Company paid a second quarter common stock cash dividend of $0.92 per share on July 15, 2026 to stockholders of record on June 30, 2026. The dividend included a $0.72 per share special dividend representing the distribution of the approximately $500 million taxable gain resulting from the Four Seasons sales completed in the first quarter of 2026. All future dividends, including any special dividends, are subject to approval by the Company’s Board of Directors.

HOTEL BUSINESS MIX UPDATE

The Company’s customers fall into three broad groups: transient, group and contract business, which accounted for approximately 61%, 34%, and 5%, respectively, of its full year 2025 room sales.

© Host Hotels & Resorts, Inc.

PAGE 2 OF 25

HOST HOTELS & RESORTS, INC. NEWS RELEASE

August 5, 2026

The following are the results for transient, group and contract business in comparison to 2025 performance, for the Company's current portfolio:

Quarter ended June 30, 2026 Year-to-date ended June 30, 2026

Transient Group Contract Transient Group Contract

Room nights (in thousands) 1,487  1,093  215  2,773  2,199  419

Percent change in room nights vs. same period in 2025 (0.7 %) 3.5 % 3.4 % (0.6 %) 2.1 % 5.6 %

Rooms revenues (in millions) $ 559  $ 332  $ 48  $ 1,057  $ 688  $ 95

Percent change in revenues vs. same period in 2025 6.9 % 7.4 % 6.6 % 6.2 % 4.8 % 8.5 %

CAPITAL EXPENDITURES

The following presents the Company’s capital expenditures spend through the second quarter of 2026 and the forecast for the full year 2026 (in millions):

Year-to-date ended June 30, 2026

2026 Full Year Forecast

Actual Low-end of range High-end of range

ROI - Marriott and Hyatt Transformational Capital Programs $ 73  $ 175  $ 200

All other return on investment ("ROI") projects 30  75  85

Total ROI Projects 103  250  285

Renewals and Replacements ("R&R") 138  275  315

R&R and ROI Capital expenditures 241  525  600

R&R - Property Damage Reconstruction 2  25  30

Total Capital Expenditures $ 243  $ 550  $ 630

Inventory spend for condo development(1)

16  17  17

Total capital allocation $ 259  $ 567  $ 647

__________

(1)Represents construction costs for the development of condominium units on a land parcel adjacent to Four Seasons Resort Orlando at Walt Disney World® Resort. Under GAAP, costs to develop units for resale are considered an operating activity on the statement of cash flows, and categorized as inventory. This spend is separate from payments for capital expenditures, which are considered investing activities.

The forecast property damage reconstruction includes estimated spend for damage caused by the Kona Low rainstorm to the Company's properties in Hawaii in March 2026. Remediation efforts are substantially complete, and the hotels remained operational with isolated instances of water damage. The Company is still evaluating the complete property and business interruption impacts of the storm, but currently estimates the total property costs to be approximately $27 million to $32 million, which includes remediation costs of approximately $2 million. The Company expects its insurance coverage to substantially cover the property damage in excess of the insurance deductible.

Under the Hyatt and Marriott Transformational Capital Programs, the Company received $5 million of operating guarantees in the second quarter of 2026 to offset expected business disruption. The Company expects to receive a total of $19 million of operating guarantees in 2026 under the two programs. The transformational renovation at the Grand Hyatt Washington was completed in the second quarter of 2026.

2026 OUTLOOK

In the first half of 2026, the Company saw strong leisure and group demand, which drove an increase in rates. Comparable hotel RevPAR for July also grew approximately 10% over 2025, with a continued boost from the FIFA World Cup games. The 2026 guidance range includes the benefits from the FIFA World Cup as well as improved

© Host Hotels & Resorts, Inc.

PAGE 3 OF 25

HOST HOTELS & RESORTS, INC. NEWS RELEASE

August 5, 2026

expectations in the second half of the year driven by leisure demand and modest improvements to short-term group booking trends. Full year operating profit margins and comparable hotel EBITDA margins are expected to increase slightly compared to 2025, as first half rate improvements offset increases in wage expense, while year-over-year comparisons are expected to moderate, primarily due to lower room rate growth expectations in the second half of the year.

In comparison to 2025, the guidance reflects a reduction in earnings due to the 2026 and 2025 dispositions. The guidance for net income and Adjusted EBITDAre also includes an estimated $16 million to $20 million net contribution from total sales expected to close at the condominium development adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort this year, and remaining sales expected to shift into 2027. Additionally, the final determination on insurance claims related to Hurricanes Helene and Milton is expected in 2026, but no additional amounts from what was received in first quarter are included in guidance.

The Company anticipates its 2026 operating results as compared to 2025 will be in the following range:

Current Full Year 2026 Guidance

Current Full Year 2026 Guidance Change vs. 2025

Previous Full Year 2026 Guidance Change vs. 2025

Change in Full Year 2026 Guidance to the Mid-Point

Comparable hotel Total RevPAR $391 to $392 4.75% to 5.25% 3.5% to 5.0% 75 bps

Comparable hotel RevPAR $234 to $235 4.75% to 5.25% 3.0% to 4.5% 125 bps

Total revenues under GAAP (in millions)

$6,124 to $6,153 0.2% to 0.6% (0.3%) to 1.1% 0 bps

Operating profit margin under GAAP 14.9% to 15.1% 90 bps to 110 bps 40 bps to 110 bps 20 bps

Comparable hotel EBITDA margin 29.6% to 29.7% 40 bps to 50 bps 20 bps to 50 bps 20 bps

Based upon the above parameters, the Company estimates its 2026 guidance as follows:

Current Full Year 2026 Guidance

Previous Full Year 2026 Guidance

Change in Full Year 2026 Guidance to the Mid-Point

Net income (in millions) $944 to $962 $908 to $955 $21

Adjusted EBITDAre (in millions)

$1,820 to $1,840 $1,785 to $1,835 $20

Diluted earnings per common share $1.35 to $1.38 $1.30 to $1.37 $0.04

NAREIT FFO per diluted share $2.11 to $2.14 $2.06 to $2.12 $0.02

Adjusted FFO per diluted share $2.15 to $2.18 $2.10 to $2.16 $0.03

See the 2026 Forecast Schedules and the Notes to Financial Information for items that may affect forecast results and the Second Quarter 2026 Supplemental Financial Information for additional detail on the mid-point of full year 2026 guidance.

ABOUT HOST HOTELS & RESORTS

Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 70 properties in the United States and five properties internationally totaling approximately 41,300 rooms. The Company also holds non-controlling interests in seven domestic joint ventures. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott®, Ritz-Carlton®, Westin®, W®, The Luxury Collection®, Hyatt®, Fairmont®, 1 Hotels®, Hilton®, Swissôtel®, ibis® and Novotel®, as well as independent brands. For additional information, please visit the Company’s website at www.hosthotels.com.

Note: This press release contains forward-looking statements within the meaning of federal securities regulations. These forward-looking statements include, but may not be limited to, our expectations regarding the strength of lodging demand, the continued recovery in Maui from the 2023 wildfires, and 2026 estimates with respect to our business, including our anticipated capital expenditures and financial and operating results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to, those described in the Company’s annual report on Form 10-K and other filings with the SEC. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of August 5, 2026, and the Company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.

© Host Hotels & Resorts, Inc.

PAGE 4 OF 25

HOST HOTELS & RESORTS, INC. NEWS RELEASE

August 5, 2026

*This press release contains registered trademarks that are the exclusive property of their respective owners. None of the owners of these trademarks have any responsibility or liability for any information contained in this press release.

*** Tables to Follow ***

© Host Hotels & Resorts, Inc.

PAGE 5 OF 25

HOST HOTELS & RESORTS, INC. NEWS RELEASE

August 5, 2026

Host Hotels & Resorts, Inc., herein referred to as “we,” “Host Inc.,” or the “Company,” is a self-managed and self-administered real estate investment trust that owns hotel properties. We conduct our operations as an umbrella partnership REIT through an operating partnership, Host Hotels & Resorts, L.P. (“Host LP”), of which we are the sole general partner. When distinguishing between Host Inc. and Host LP, the primary difference is approximately 1% of the partnership interests in Host LP held by outside partners as of June 30, 2026, which are non-controlling interests in Host LP in our consolidated balance sheets and are included in net (income) loss attributable to non-controlling interests in our condensed consolidated statements of operations. Readers are encouraged to find further detail regarding our organizational structure in our annual report on Form 10-K.

2026 OPERATING RESULTS

PAGE NO.

Condensed Consolidated Balance Sheets (unaudited)

June 30, 2026 and December 31, 2025

7

Condensed Consolidated Statements of Operations (unaudited)

Quarter and Year-to-date ended June 30, 2026 and 2025

8

Earnings per Common Share (unaudited)

Quarter and Year-to-date ended June 30, 2026 and 2025

9

Hotel Operating Data

Hotel Operating Data for Consolidated Hotels (by Location)

10

Schedule of Comparable Hotel Results

14

Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre

17

Reconciliation of Diluted Earnings per Common Share to NAREIT and Adjusted Funds From Operations per Diluted Share

18

2026 FORECAST INFORMATION

Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre and Diluted Earnings per Common Share to NAREIT and Adjusted Funds From Operations per Diluted Share for Full Year 2026 Forecasts

19

Schedule of Comparable Hotel Results for Full Year 2026 Forecasts

21

Notes to Financial Information

22

© Host Hotels & Resorts, Inc.

PAGE 6 OF 25

HOST HOTELS & RESORTS, INC.

Condensed Consolidated Balance Sheets

(unaudited, in millions, except shares and per share amounts)

June 30,

2026

December 31, 2025

ASSETS

Property and equipment, net $ 9,639  $ 10,636

Right-of-use assets 560  560

Assets held for sale —  34

Due from managers 110  39

Advances to and investments in affiliates 299  259

Furniture, fixtures and equipment replacement fund 156  167

Notes receivable 114  114

Other 422  472

Cash and cash equivalents 1,953  768

Total assets $ 13,253  $ 13,049

LIABILITIES, NON-CONTROLLING INTERESTS AND EQUITY

Debt⁽¹⁾

Senior notes $ 3,990  $ 3,986

Credit facility, including the term loans of $999

998  996

Mortgage and other debt 94  95

Total debt 5,082  5,077

Lease liabilities 563  563

Accounts payable and accrued expenses 736  355

Due to managers 9  76

Other 245  246

Total liabilities 6,635  6,317

Redeemable non-controlling interests - Host Hotels & Resorts, L.P. 226  171

Host Hotels & Resorts, Inc. stockholders’ equity:

Common stock, par value $0.01, 1,050 million shares authorized, 685.0 million shares and 687.8 million shares issued and outstanding, respectively

7  7

Additional paid-in capital 7,159  7,289

Accumulated other comprehensive loss (66) (68)

Deficit (712) (670)

Total equity of Host Hotels & Resorts, Inc. stockholders 6,388  6,558

Non-redeemable non-controlling interests—other consolidated partnerships 4  3

Total equity 6,392  6,561

Total liabilities, non-controlling interests and equity $ 13,253  $ 13,049

__________

(1)Please see our Second Quarter 2026 Supplemental Financial Information for more detail on our debt balances and financial covenant ratios under our credit facility and senior notes indentures.

PAGE 7 OF 25

HOST HOTELS & RESORTS, INC.

Condensed Consolidated Statements of Operations

(unaudited, in millions, except per share amounts)

Quarter ended

June 30, Year-to-date ended June 30,

2026 2025 2026 2025

Revenues

Rooms $ 954  $ 949  $ 1,897  $ 1,887

Food and beverage 484  478  1,001  981

Other 149  159  308  312

Condominium sales 53  —  79  —

Total revenues 1,640  1,586  3,285  3,180

Expenses

Rooms 231  233  455  458

Food and beverage 311  313  638  636

Other departmental and support expenses 371  375  744  739

Management fees 74  70  141  139

Other property-level expenses 94  107  197  218

Depreciation and amortization 193  195  383  391

Cost of goods sold 44  —  65  —

Corporate and other expenses⁽¹⁾

29  25  57  56

Net gain on insurance settlements —  (9) (7) (19)

Total operating costs and expenses 1,347  1,309  2,673  2,618

Operating profit 293  277  612  562

Interest income 18  7  30  15

Interest expense (58) (58) (117) (115)

Other gains (losses) (1) 22  241  26

Equity in earnings of affiliates 7  4  11  14

Income before income taxes 259  252  777  502

Provision for income taxes (18) (27) (35) (26)

Net income 241  225  742  476

Less: Net income attributable to non-controlling interests (4) (4) (11) (7)

Net income attributable to Host Inc. $ 237  $ 221  $ 731  $ 469

Basic earnings per common share $ 0.35  $ 0.32  $ 1.07  $ 0.68

Diluted earnings per common share $ 0.35  $ 0.32  $ 1.06  $ 0.67

___________

(1)Corporate and other expenses include the following items:

Quarter ended

June 30, Year-to-date ended June 30,

2026 2025 2026 2025

General and administrative costs $ 23  $ 20  $ 45  $ 45

Non-cash stock-based compensation expense 6  5  12  11

Total $ 29  $ 25  $ 57  $ 56

PAGE 8 OF 25

HOST HOTELS & RESORTS, INC.

Earnings per Common Share

(unaudited, in millions, except per share amounts)

Quarter ended June 30, Year-to-date ended June 30,

2026 2025 2026 2025

Net income $ 241  $ 225  $ 742  $ 476

Less: Net income attributable to non-controlling interests (4) (4) (11) (7)

Net income attributable to Host Inc. $ 237  $ 221  $ 731  $ 469

Basic weighted average shares outstanding 684.9 692.5 686.2 695.2

Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market 2.1 1.4 1.9 1.5

Diluted weighted average shares outstanding⁽¹⁾ 687.0  693.9  688.1  696.7

Basic earnings per common share $ 0.35  $ 0.32  $ 1.07  $ 0.68

Diluted earnings per common share $ 0.35  $ 0.32  $ 1.06  $ 0.67

___________

(1)Dilutive securities may include shares granted under comprehensive stock plans, preferred operating partnership units (“OP Units”) held by non-controlling limited partners and other non-controlling interests that have the option to convert their limited partnership interests to common OP Units. No effect is shown for any securities that were anti-dilutive for the period.

PAGE 9 OF 25

HOST HOTELS & RESORTS, INC.

Hotel Operating Data for Consolidated Hotels

Comparable Hotel Results by Location(1)

As of June 30, 2026

Quarter ended June 30, 2026 Quarter ended June 30, 2025

Location No. of

Properties No. of

Rooms Average

Room Rate Average

Occupancy

Percentage RevPAR Total RevPAR Average

Room Rate Average

Occupancy

Percentage RevPAR Total RevPAR Percent

Change in

RevPAR Percent

Change in

Total RevPAR

Miami 2  1,038  $ 616.76  74.9 % $ 461.81  $ 793.41  $ 539.89  75.7 % $ 408.45  $ 732.84  13.1 % 8.3 %

Maui

3  1,580  638.22  78.7 % 502.56  799.78  626.40  70.6 % 442.40  723.40  13.6 % 10.6 %

Jacksonville

1  446  630.70  81.3 % 512.97  1,115.48  591.43  83.3 % 492.44  1,100.34  4.2 % 1.4 %

Florida Gulf Coast 4  1,529  514.48  70.7 % 363.86  793.99  471.48  71.2 % 335.60  755.64  8.4 % 5.1 %

Oahu 2  876  495.33  81.3 % 402.80  679.39  483.12  83.1 % 401.38  608.74  0.4 % 11.6 %

Phoenix 3  1,565  403.93  68.8 % 277.92  660.16  374.07  71.6 % 267.76  659.33  3.8 % 0.1 %

New York 3  2,720  437.16  89.2 % 389.80  572.39  409.04  89.7 % 366.84  542.26  6.3 % 5.6 %

Nashville 2  721  381.10  84.3 % 321.34  540.78  359.88  84.2 % 303.14  507.51  6.0 % 6.6 %

Los Angeles/Orange County 3  1,067  327.75  76.8 % 251.76  381.15  300.14  78.6 % 235.89  361.04  6.7 % 5.6 %

San Diego 3  3,294  310.67  78.0 % 242.20  447.47  302.46  78.9 % 238.56  448.16  1.5 % (0.2 %)

Washington, D.C. (CBD) 4  2,788  336.12  77.3 % 259.86  377.17  332.88  67.0 % 223.12  313.23  16.5 % 20.4 %

San Francisco/San Jose 6  4,162  264.77  73.4 % 194.22  279.47  244.24  72.4 % 176.83  266.41  9.8 % 4.9 %

Boston 2  1,496  349.78  79.4 % 277.73  354.77  329.47  82.3 % 271.06  337.00  2.5 % 5.3 %

Northern Virginia 2  916  291.01  75.8 % 220.55  337.27  280.77  67.8 % 190.41  297.05  15.8 % 13.5 %

Philadelphia 2  810  283.74  83.3 % 236.29  355.28  256.55  85.5 % 219.35  325.22  7.7 % 9.2 %

Orlando 1  2,004  243.69  67.7 % 164.97  423.75  235.65  72.3 % 170.30  424.67  (3.1 %) (0.2 %)

Austin 2  769  246.75  69.8 % 172.16  329.71  228.65  48.7 % 111.26  214.94  54.7 % 53.4 %

Chicago 3  1,562  286.67  83.7 % 239.87  340.59  271.79  78.9 % 214.31  303.52  11.9 % 12.2 %

Houston 4  1,710  220.55  68.3 % 150.69  204.83  211.13  69.2 % 146.16  199.15  3.1 % 2.9 %

Atlanta 2  810  229.73  71.3 % 163.81  276.00  217.16  68.3 % 148.32  258.74  10.4 % 6.7 %

San Antonio 2  1,512  228.58  65.9 % 150.73  231.44  231.54  61.1 % 141.42  222.13  6.6 % 4.2 %

Seattle 2  1,315  259.80  72.6 % 188.68  258.45  249.43  77.6 % 193.66  268.21  (2.6 %) (3.6 %)

New Orleans 1  1,333  195.91  63.3 % 123.98  205.21  201.72  66.0 % 133.12  217.44  (6.9 %) (5.6 %)

Denver 3  1,342  211.99  68.6 % 145.45  219.33  209.77  71.2 % 149.35  231.44  (2.6 %) (5.2 %)

Other 7  2,110  295.45  74.3 % 219.48  332.71  275.92  75.7 % 208.76  317.32  5.1 % 4.9 %

Domestic 69  39,475  339.81  75.2 % 255.42  425.08  321.66  74.2 % 238.66  401.41  7.0 % 5.9 %

International 5  1,499  219.64  67.8 % 149.01  219.29  198.72  70.5 % 140.01  205.53  6.4 % 6.7 %

All Locations 74  40,974  $ 335.83  74.9 % $ 251.53  $ 417.58  $ 317.39  74.1 % $ 235.05  $ 394.27  7.0 % 5.9 %

___________

(1)See the Notes to Financial Information for a discussion of comparable hotel operating statistics. CBD of a location refers to the central business district. Hotel RevPAR is calculated as room revenues divided by the available room nights. Hotel Total RevPAR is calculated by dividing the sum of rooms, food and beverage and other revenues by the available room nights.

PAGE 10 OF 25

HOST HOTELS & RESORTS, INC.

Hotel Operating Data for Consolidated Hotels (cont.)

Comparable Hotel Results by Location(1)

As of June 30, 2026

Year-to-date ended June 30, 2026 Year-to-date ended June 30, 2025

Location No. of

Properties No. of

Rooms Average

Room Rate Average

Occupancy

Percentage RevPAR Total RevPAR Average

Room Rate Average

Occupancy

Percentage RevPAR Total RevPAR Percent

Change in

RevPAR Percent

Change in

Total RevPAR

Miami 2  1,038  $ 673.81  81.0 % $ 545.85  $ 930.88  $ 599.00  79.8 % $ 478.27  $ 826.47  14.1 % 12.6 %

Maui

3  1,580  653.02  78.4 % 511.68  800.33  655.80  72.8 % 477.53  755.82  7.2 % 5.9 %

Jacksonville

1  446  600.19  77.3 % 464.05  1,053.06  561.58  75.7 % 425.07  965.27  9.2 % 9.1 %

Florida Gulf Coast 4  1,529  608.76  74.9 % 456.15  975.21  559.53  76.3 % 427.18  928.82  6.8 % 5.0 %

Oahu 2  876  495.30  79.0 % 391.44  625.92  483.39  83.4 % 403.28  617.09  (2.9 %) 1.4 %

Phoenix 3  1,565  472.02  75.9 % 358.47  790.62  441.07  76.4 % 337.14  774.12  6.3 % 2.1 %

New York 3  2,720  393.13  84.8 % 333.54  495.64  371.30  84.4 % 313.21  462.74  6.5 % 7.1 %

Nashville 2  721  361.24  80.5 % 290.86  493.61  342.91  82.3 % 282.25  479.52  3.0 % 2.9 %

Los Angeles/Orange County 3  1,067  321.24  77.7 % 249.55  373.11  305.62  78.9 % 241.11  364.68  3.5 % 2.3 %

San Diego 3  3,294  311.73  76.5 % 238.61  455.25  302.22  75.8 % 229.13  440.88  4.1 % 3.3 %

Washington, D.C. (CBD) 4  2,788  321.87  70.1 % 225.77  334.66  333.15  67.1 % 223.51  320.88  1.0 % 4.3 %

San Francisco/San Jose 6  4,162  303.55  71.5 % 216.93  312.99  270.28  68.0 % 183.90  276.02  18.0 % 13.4 %

Boston 2  1,496  303.85  69.5 % 211.11  290.06  288.08  73.6 % 212.12  280.32  (0.5 %) 3.5 %

Northern Virginia 2  916  280.37  72.5 % 203.24  312.46  276.19  66.6 % 184.04  293.21  10.4 % 6.6 %

Philadelphia 2  810  255.68  79.3 % 202.83  306.03  238.28  81.1 % 193.36  293.01  4.9 % 4.4 %

Orlando 1  2,004  256.74  71.9 % 184.70  465.92  248.19  73.6 % 182.65  456.29  1.1 % 2.1 %

Austin 2  769  258.69  68.7 % 177.67  330.14  250.94  58.0 % 145.46  269.61  22.1 % 22.4 %

Chicago 3  1,562  246.91  67.8 % 167.52  243.35  237.69  66.0 % 156.86  226.03  6.8 % 7.7 %

Houston 4  1,710  225.00  71.5 % 160.92  220.30  215.87  71.8 % 154.89  216.34  3.9 % 1.8 %

Atlanta 2  810  226.33  69.8 % 158.01  274.07  219.91  67.8 % 149.07  257.84  6.0 % 6.3 %

San Antonio 2  1,512  235.02  65.5 % 153.94  248.65  230.63  63.7 % 146.88  237.17  4.8 % 4.8 %

Seattle 2  1,315  238.46  64.0 % 152.70  212.26  234.08  66.2 % 155.07  214.18  (1.5 %) (0.9 %)

New Orleans 1  1,333  200.17  63.7 % 127.41  212.03  229.88  68.7 % 157.87  247.55  (19.3 %) (14.3 %)

Denver 3  1,342  201.44  62.0 % 124.95  193.16  198.40  63.4 % 125.86  195.77  (0.7 %) (1.3 %)

Other 7  2,110  301.03  70.5 % 212.29  316.30  288.63  70.1 % 202.27  304.37  5.0 % 3.9 %

Domestic 69  39,475  345.75  72.9 % 252.14  426.41  330.33  72.2 % 238.66  405.47  5.6 % 5.2 %

International 5  1,499  209.22  64.3 % 134.59  192.47  186.40  65.7 % 122.54  171.41  9.8 % 12.3 %

All Locations 74  40,974  $ 341.33  72.6 % $ 247.84  $ 417.89  $ 325.53  72.0 % $ 234.41  $ 396.95  5.7 % 5.3 %

___________

(1)See the Notes to Financial Information for a discussion of comparable hotel operating statistics. CBD of a location refers to the central business district. Hotel RevPAR is calculated as room revenues divided by the available room nights. Hotel Total RevPAR is calculated by dividing the sum of rooms, food and beverage and other revenues by the available room nights.

PAGE 11 OF 25

HOST HOTELS & RESORTS, INC.

Hotel Operating Data for Consolidated Hotels (cont.)

Results by Location - actual, based on ownership period(1)

As of June 30,

2026 2025 Quarter ended June 30, 2026 Quarter ended June 30, 2025

Location No. of

Properties No. of

Properties Average

Room Rate Average

Occupancy

Percentage RevPAR Total RevPAR Average

Room Rate Average

Occupancy

Percentage RevPAR Total RevPAR Percent

Change in

RevPAR Percent

Change in

Total RevPAR

Miami 2  2  $ 616.76  74.9 % $ 461.81  $ 793.41  $ 539.89  75.7 % $ 408.45  $ 732.84  13.1 % 8.3 %

Maui 3  3  638.22  78.7 % 502.56  799.78  626.40  70.6 % 442.40  723.40  13.6 % 10.6 %

Jacksonville 1  1  630.70  81.3 % 512.97  1,115.48  591.43  83.3 % 492.44  1,100.34  4.2 % 1.4 %

Florida Gulf Coast 5  5  506.96  72.8 % 369.21  794.19  463.61  70.4 % 326.40  709.67  13.1 % 11.9 %

Oahu 2  2  495.33  81.3 % 402.80  679.39  483.12  83.1 % 401.38  608.74  0.4 % 11.6 %

Phoenix 3  3  403.93  68.8 % 277.92  660.16  374.07  71.6 % 267.76  659.33  3.8 % 0.1 %

New York 3  3  437.16  89.2 % 389.80  572.39  409.04  89.7 % 366.84  542.26  6.3 % 5.6 %

Nashville 2  2  381.10  84.3 % 321.34  540.78  359.88  84.2 % 303.14  507.51  6.0 % 6.6 %

Los Angeles/Orange County 3  3  327.75  76.8 % 251.76  381.15  300.14  78.6 % 235.89  361.04  6.7 % 5.6 %

San Diego 3  3  310.67  78.0 % 242.20  447.47  302.46  78.9 % 238.56  448.16  1.5 % (0.2 %)

Washington, D.C. (CBD) 4  5  336.12  77.3 % 259.86  377.17  331.57  69.4 % 230.04  319.10  13.0 % 18.2 %

San Francisco/San Jose 6  6  264.77  73.4 % 194.22  279.47  244.24  72.4 % 176.83  266.41  9.8 % 4.9 %

Boston 2  2  349.78  79.4 % 277.73  354.77  329.47  82.3 % 271.06  337.00  2.5 % 5.3 %

Northern Virginia 2  2  291.01  75.8 % 220.55  337.27  280.77  67.8 % 190.41  297.05  15.8 % 13.5 %

Philadelphia 2  2  283.74  83.3 % 236.29  355.28  256.55  85.5 % 219.35  325.22  7.7 % 9.2 %

Orlando 1  2  243.69  67.7 % 164.97  423.75  400.73  71.1 % 285.05  592.11  (42.1 %) (28.4 %)

Austin 2  2  246.75  69.8 % 172.16  329.71  228.65  48.7 % 111.26  214.94  54.7 % 53.4 %

Chicago 3  3  286.67  83.7 % 239.87  340.59  271.79  78.9 % 214.31  303.52  11.9 % 12.2 %

Houston 4  5  220.55  68.3 % 150.69  204.83  223.43  66.8 % 149.18  207.36  1.0 % (1.2 %)

Atlanta 2  2  229.73  71.3 % 163.81  276.00  217.16  68.3 % 148.32  258.74  10.4 % 6.7 %

San Antonio 2  2  228.58  65.9 % 150.73  231.44  231.54  61.1 % 141.42  222.13  6.6 % 4.2 %

Seattle 2  2  259.80  72.6 % 188.68  258.45  249.43  77.6 % 193.66  268.21  (2.6 %) (3.6 %)

New Orleans 1  1  195.91  63.3 % 123.98  205.21  201.72  66.0 % 133.12  217.44  (6.9 %) (5.6 %)

Denver 3  3  211.99  68.6 % 145.45  219.33  209.77  71.2 % 149.35  231.44  (2.6 %) (5.2 %)

Other 7  9  280.14  71.9 % 201.47  304.38  281.32  71.4 % 200.88  307.38  0.3 % (1.0 %)

Domestic 70  75  339.95  75.1 % 255.21  425.78  330.65  73.7 % 243.80  408.52  4.7 % 4.2 %

International 5  5  219.64  67.8 % 149.01  219.29  198.72  70.5 % 140.01  205.53  6.4 % 6.7 %

All Locations 75  80  $ 336.03  74.8 % $ 251.39  $ 418.38  $ 326.28  73.6 % $ 240.22  $ 401.52  4.7 % 4.2 %

___________

(1)Represents the results of the portfolio for the time period of our ownership, including the results of non-comparable properties, dispositions through their date of disposal and acquisitions beginning as of the date of acquisition.

PAGE 12 OF 25

HOST HOTELS & RESORTS, INC.

Hotel Operating Data for Consolidated Hotels (cont.)

Results by Location - actual, based on ownership period(1)

As of June 30,

2026 2025 Year-to-date ended June 30, 2026 Year-to-date ended June 30, 2025

Location No. of

Properties No. of

Properties Average

Room Rate Average

Occupancy

Percentage RevPAR Total RevPAR Average

Room Rate Average

Occupancy

Percentage RevPAR Total RevPAR Percent

Change in

RevPAR Percent

Change in

Total RevPAR

Miami 2  2  $ 673.81  81.0 % $ 545.85  $ 930.88  $ 599.00  79.8 % $ 478.27  $ 826.47  14.1 % 12.6 %

Maui 3  3  653.02  78.4 % 511.68  800.33  655.80  72.8 % 477.53  755.82  7.2 % 5.9 %

Jacksonville 1  1  600.19  77.3 % 464.05  1,053.06  561.58  75.7 % 425.07  965.27  9.2 % 9.1 %

Florida Gulf Coast 5  5  585.81  75.7 % 443.69  938.69  543.85  69.9 % 380.32  811.16  16.7 % 15.7 %

Oahu 2  2  495.30  79.0 % 391.44  625.92  483.39  83.4 % 403.28  617.09  (2.9 %) 1.4 %

Phoenix 3  3  472.02  75.9 % 358.47  790.62  441.07  76.4 % 337.14  774.12  6.3 % 2.1 %

New York 3  3  393.13  84.8 % 333.54  495.64  371.30  84.4 % 313.21  462.74  6.5 % 7.1 %

Nashville 2  2  361.24  80.5 % 290.86  493.61  342.91  82.3 % 282.25  479.52  3.0 % 2.9 %

Los Angeles/Orange County 3  3  321.24  77.7 % 249.55  373.11  305.62  78.9 % 241.11  364.68  3.5 % 2.3 %

San Diego 3  3  311.73  76.5 % 238.61  455.25  302.22  75.8 % 229.13  440.88  4.1 % 3.3 %

Washington, D.C. (CBD) 4  5  321.87  70.1 % 225.77  334.66  329.87  68.7 % 226.66  320.93  (0.4 %) 4.3 %

San Francisco/San Jose 6  6  303.55  71.5 % 216.93  312.99  270.28  68.0 % 183.90  276.02  18.0 % 13.4 %

Boston 2  2  303.85  69.5 % 211.11  290.06  288.08  73.6 % 212.12  280.32  (0.5 %) 3.5 %

Northern Virginia 2  2  280.37  72.5 % 203.24  312.46  276.19  66.6 % 184.04  293.21  10.4 % 6.6 %

Philadelphia 2  2  255.68  79.3 % 202.83  306.03  238.28  81.1 % 193.36  293.01  4.9 % 4.4 %

Orlando 1  2  304.74  71.3 % 217.21  514.18  418.44  72.2 % 302.25  625.94  (28.1 %) (17.9 %)

Austin 2  2  258.69  68.7 % 177.67  330.14  250.94  58.0 % 145.46  269.61  22.1 % 22.4 %

Chicago 3  3  246.91  67.8 % 167.52  243.35  237.69  66.0 % 156.86  226.03  6.8 % 7.7 %

Houston 4  5  225.11  71.3 % 160.51  219.86  227.88  69.2 % 157.76  222.95  1.7 % (1.4 %)

Atlanta 2  2  226.33  69.8 % 158.01  274.07  219.91  67.8 % 149.07  257.84  6.0 % 6.3 %

San Antonio 2  2  235.02  65.5 % 153.94  248.65  230.63  63.7 % 146.88  237.17  4.8 % 4.8 %

Seattle 2  2  238.46  64.0 % 152.70  212.26  234.08  66.2 % 155.07  214.18  (1.5 %) (0.9 %)

New Orleans 1  1  200.17  63.7 % 127.41  212.03  229.88  68.7 % 157.87  247.55  (19.3 %) (14.3 %)

Denver 3  3  201.44  62.0 % 124.95  193.16  198.40  63.4 % 125.86  195.77  (0.7 %) (1.3 %)

Other 7  9  316.92  67.6 % 214.14  325.12  322.83  66.0 % 213.23  329.30  0.4 % (1.3 %)

Domestic 70  75  349.97  72.7 % 254.52  431.50  341.42  71.5 % 244.24  412.86  4.2 % 4.5 %

International 5  5  209.22  64.3 % 134.59  192.47  186.40  65.7 % 122.54  171.41  9.8 % 12.3 %

All Locations 75  80  $ 345.49  72.4 % $ 250.23  $ 422.97  $ 336.49  71.3 % $ 240.04  $ 404.56  4.2 % 4.6 %

___________

(1)Represents the results of the portfolio for the time period of our ownership, including the results of non-comparable properties, dispositions through their date of disposal and acquisitions beginning as of the date of acquisition.

PAGE 13 OF 25

HOST HOTELS & RESORTS, INC.

Schedule of Comparable Hotel Results (1)

(unaudited, in millions, except hotel statistics)

Quarter ended

June 30, Year-to-date ended June 30,

2026 2025 2026 2025

Number of hotels 74  74  74  74

Number of rooms 40,974  40,974  40,974  40,974

Change in comparable hotel Total RevPAR 5.9 % —  5.3 % —

Change in comparable hotel RevPAR 7.0 % —  5.7 % —

Operating profit margin⁽²⁾

17.9 % 17.5 % 18.6 % 17.7 %

Comparable hotel EBITDA margin⁽²⁾

31.9 % 31.3 % 32.3 % 31.7 %

Food and beverage profit margin⁽²⁾ 35.7 % 34.5 % 36.3 % 35.2 %

Comparable hotel food and beverage profit margin⁽²⁾

35.5 % 35.2 % 36.4 % 35.8 %

Net income $ 241  $ 225  $ 742  $ 476

Depreciation and amortization 193  195  383  391

Interest expense 58  58  117  115

Provision for income taxes 18  27  35  26

Gain on sale of property and corporate level income/expense 5  (8) (225) 1

Property transaction adjustments⁽³⁾

—  (24) (11) (58)

Non-comparable hotel results, net⁽⁴⁾

(10) (12) (27) (18)

Condominium sales (5)

(8) —  (12) —

Comparable hotel EBITDA⁽¹⁾

$ 497  $ 461  $ 1,002  $ 933

___________

(1)See the Notes to Financial Information for a discussion of comparable hotel results, which are non-GAAP measures, and the limitations on their use. For additional information on comparable hotel EBITDA by location, see the Second Quarter 2026 Supplemental Financial Information posted on our website.

(2)Profit margins are calculated by dividing the applicable operating profit by the related revenue amount. GAAP profit margins are calculated using amounts presented in the unaudited condensed consolidated statements of operations. Comparable hotel margins are calculated using amounts presented in the following tables, which include reconciliations to the applicable GAAP results:

PAGE 14 OF 25

HOST HOTELS & RESORTS, INC.

Schedule of Comparable Hotel Results (1) (cont.)

(unaudited, in millions, except hotel statistics

Quarter ended June 30, 2026 Quarter ended June 30, 2025

Adjustments Adjustments

GAAP Results Property transaction

adjustments ⁽³⁾ Non-comparable hotel

results, net ⁽⁴⁾

Condominium sales (5)

Depreciation and

corporate level items Comparable hotel

Results GAAP Results

Property transaction

adjustments (3)

Non-comparable hotel

results, net ⁽⁴⁾ Depreciation and

corporate level items Comparable hotel

Results

Revenues

Room $ 954  $ (2) $ (13) $ —  $ —  $ 939  $ 949  $ (62) $ (10) $ —  $ 877

Food and beverage

484  (1) (9) —  —  474  478  (25) (5) —  448

Other 149  —  (4) —  —  145  159  (12) (1) —  146

Condominium sales 53  —  —  (53) —  —  —  —  —  —  —

Total revenues 1,640  (3) (26) (53) —  1,558  1,586  (99) (16) —  1,471

Expenses

Room 231  (1) (3) —  —  227  233  (14) (2) —  217

Food and beverage

311  (1) (4) —  —  306  313  (20) (3) —  290

Other 539  (1) (9) (1) —  528  552  (41) (8) —  503

Depreciation and amortization

193  —  —  —  (193) —  195  —  —  (195) —

Cost of goods sold 44  —  —  (44) —  —  —  —  —  —  —

Corporate and other expenses

29  —  —  —  (29) —  25  —  —  (25) —

Net gain on insurance settlements —  —  —  —  —  —  (9) —  9  —  —

Total expenses 1,347  (3) (16) (45) (222) 1,061  1,309  (75) (4) (220) 1,010

Operating Profit - Comparable hotel EBITDA $ 293  $ —  $ (10) $ (8) $ 222  $ 497  $ 277  $ (24) $ (12) $ 220  $ 461

PAGE 15 OF 25

HOST HOTELS & RESORTS, INC.

Schedule of Comparable Hotel Results (1) (cont.)

(unaudited, in millions, except hotel statistics)

Year-to-date ended June 30, 2026 Year-to-date ended June 30, 2025

Adjustments Adjustments

GAAP Results Property transaction

adjustments ⁽³⁾ Non-comparable hotel

results, net ⁽⁴⁾

Condominium sales (5)

Depreciation and

corporate level items Comparable hotel

Results GAAP Results

Property transaction

adjustments (3)

Non-comparable hotel

results, net ⁽⁴⁾ Depreciation and

corporate level items Comparable hotel

Results

Revenues

Room $ 1,897  $ (32) $ (25) $ —  $ —  $ 1,840  $ 1,887  $ (135) $ (13) $ —  $ 1,739

Food and beverage

1,001  (16) (16) —  —  969  981  (56) (5) —  920

Other 308  (7) (8) —  —  293  312  (25) (1) —  286

Condominium sales 79  —  —  (79) —  —  —  —  —  —  —

Total revenues 3,285  (55) (49) (79) —  3,102  3,180  (216) (19) —  2,945

Expenses

Room 455  (7) (5) —  —  443  458  (28) (3) —  427

Food and beverage

638  (12) (9) —  —  617  636  (42) (4) —  590

Other 1,082  (25) (15) (2) —  1,040  1,096  (88) (13) —  995

Depreciation and amortization

383  —  —  —  (383) —  391  —  —  (391) —

Cost of goods sold 65  —  —  (65) —  —  —  —  —  —  —

Corporate and other expenses

57  —  —  —  (57) —  56  —  —  (56) —

Net gain on insurance settlements (7) —  7  —  —  —  (19) —  19  —  —

Total expenses 2,673  (44) (22) (67) (440) 2,100  2,618  (158) (1) (447) 2,012

Operating Profit - Comparable hotel EBITDA $ 612  $ (11) $ (27) $ (12) $ 440  $ 1,002  $ 562  $ (58) $ (18) $ 447  $ 933

(3)Property transaction adjustments represent the following items: (i) the elimination of results of operations of hotels sold or held-for-sale as of the reporting date, which operations are included in our unaudited condensed consolidated statements of operations as continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date.

(4)Non-comparable hotel results, net, includes the following items: (i) the results of operations of our non-comparable hotels, which operations are included in our unaudited condensed consolidated statements of operations as continuing operations, and (ii) gains on business interruption proceeds covering lost revenues while the property was considered non-comparable.

(5)Includes revenues and costs, including marketing and administrative expenses of approximately $1 million and $2 million for the quarter and year-to-date 2026, respectively, related to the development and sale of condominium units adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort.

PAGE 16 OF 25

HOST HOTELS & RESORTS, INC.

Reconciliation of Net Income to

EBITDA, EBITDAre and Adjusted EBITDAre (1)

(unaudited, in millions)

Quarter ended June 30, Year-to-date ended June 30,

2026 2025 2026 2025

Net income⁽²⁾ $ 241  $ 225  $ 742  $ 476

Interest expense 58  58  117  115

Depreciation and amortization 189  195  379  391

Income taxes 18  27  35  26

EBITDA⁽²⁾ 506  505  1,273  1,008

(Gain) loss on dispositions⁽³⁾ 1  (21) (241) (21)

Non-cash impairment expense 4  —  4  —

Equity investment adjustments:

Equity in earnings of affiliates (7) (4) (11) (14)

Pro rata EBITDAre of equity investments⁽⁴⁾ 15  11  31  26

EBITDAre⁽²⁾ 519  491  1,056  999

Adjustments to EBITDAre:

Non-cash stock-based compensation expense 6  5  12  11

Adjusted EBITDAre⁽²⁾ $ 525  $ 496  $ 1,068  $ 1,010

___________

(1)See the Notes to Financial Information for discussion of non-GAAP measures.

(2)Net income, EBITDA, EBITDAre, Adjusted EBITDAre, NAREIT FFO and Adjusted FFO for the year-to-date ended June 30, 2025 include a gain of $4 million from the sale of land adjacent to The Phoenician hotel.

(3)Reflects the sale of four hotels in 2026, including the sale of the Sheraton Parsippany Hotel in the second quarter, and one hotel in 2025.

(4)Unrealized gains of our unconsolidated investments are not recognized in our EBITDAre, Adjusted EBITDAre, NAREIT FFO or Adjusted FFO until they have been realized by the unconsolidated partnership.

PAGE 17 OF 25

HOST HOTELS & RESORTS, INC.

Reconciliation of Diluted Earnings per Common Share to

NAREIT and Adjusted Funds From Operations per Diluted Share (1)

(unaudited, in millions, except per share amounts)

Quarter ended June 30, Year-to-date ended June 30,

2026 2025 2026 2025

Net income⁽²⁾ $ 241  $ 225  $ 742  $ 476

Less: Net income attributable to non-controlling interests (4) (4) (11) (7)

Net income attributable to Host Inc. 237  221  731  469

Adjustments:

(Gain) loss on dispositions⁽³⁾ 1  (21) (241) (21)

Tax on dispositions —  —  5  —

Depreciation and amortization 189  195  378  390

Non-cash impairment expense 4  —  4  —

Equity investment adjustments:

Equity in earnings of affiliates (7) (4) (11) (14)

Pro rata FFO of equity investments⁽⁴⁾ 8  6  19  16

Consolidated partnership adjustments:

FFO adjustment for non-controlling interests of Host L.P. (3) (2) (2) (5)

NAREIT FFO⁽²⁾ 429  395  883  835

Adjustments to NAREIT FFO:

Non-cash stock-based compensation expense 6  5  12  11

Adjusted FFO⁽²⁾ $ 435  $ 400  $ 895  $ 846

For calculation on a per share basis:⁽⁵⁾

Diluted weighted average shares outstanding - EPS, NAREIT FFO and Adjusted FFO 687.0 693.9 688.1 696.7

Diluted earnings per common share $ 0.35  $ 0.32  $ 1.06  $ 0.67

NAREIT FFO per diluted share $ 0.62  $ 0.57  $ 1.28  $ 1.20

Adjusted FFO per diluted share $ 0.63  $ 0.58  $ 1.30  $ 1.21

___________

(1-4)Refer to the corresponding footnote on the Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre.

(5)Diluted earnings per common share, NAREIT FFO per diluted share and Adjusted FFO per diluted share are adjusted for the effects of dilutive securities. Dilutive securities may include shares granted under comprehensive stock plans, preferred OP units held by non-controlling limited partners and other non-controlling interests that have the option to convert their limited partner interests to common OP units. No effect is shown for securities if they are anti-dilutive.

PAGE 18 OF 25

HOST HOTELS & RESORTS, INC.

Reconciliation of Net Income to

EBITDA, EBITDAre and Adjusted EBITDAre and Diluted Earnings per Common Share to

NAREIT and Adjusted Funds From Operations per Diluted Share for Full Year 2026 Forecasts (1)

(unaudited, in millions)

Full Year 2026

Low-end of range High-end of range

Net income $ 944  $ 962

Interest expense 241  241

Depreciation and amortization 753  753

Income taxes 52  54

EBITDA 1,990  2,010

Gain on dispositions (241) (241)

Non-cash impairment expense 4  4

Equity investment adjustments:

Equity in earnings of affiliates (20) (21)

Pro rata EBITDAre of equity investments 61  62

EBITDAre 1,794  1,814

Adjustments to EBITDAre:

Non-cash stock-based compensation expense 26  26

Adjusted EBITDAre $ 1,820  $ 1,840

Full Year 2026

Low-end of range High-end of range

Net income $ 944  $ 962

Less: Net income attributable to non-controlling interests (14) (14)

Net income attributable to Host Inc. 930  948

Adjustments:

Gain on dispositions (241) (241)

Tax on dispositions 5  5

Depreciation and amortization 752  752

Non-cash impairment expense 4  4

Equity investment adjustments:

Equity in earnings of affiliates (20) (21)

Pro rata FFO of equity investments 32  33

Consolidated partnership adjustments:

FFO adjustment for non-controlling partnerships (1) (1)

FFO adjustment for non-controlling interests of Host LP (7) (7)

NAREIT FFO 1,454  1,472

Adjustments to NAREIT FFO:

Non-cash stock-based compensation expense 26  26

Adjusted FFO $ 1,480  $ 1,498

Diluted weighted average shares outstanding - EPS, NAREIT FFO and Adjusted FFO 688.6 688.6

Diluted earnings per common share $ 1.35  $ 1.38

NAREIT FFO per diluted share $ 2.11  $ 2.14

Adjusted FFO per diluted share $ 2.15  $ 2.18

_______________

(1)The Forecasts are based on the below assumptions:

•Comparable hotel RevPAR will increase 4.75% to 5.25% compared to 2025 for the low and high end of the forecast range. This forecast assumes a continued recovery at our Maui properties from the 2023 wildfires, however the timing of Maui's full recovery remains uncertain.

•Comparable hotel EBITDA margins will increase 40 basis points to 50 basis points compared to 2025 for the low and high end of the forecast comparable hotel RevPAR range, respectively.

•We expect to spend approximately $550 million to $630 million on capital expenditures.

•Assumes no additional dispositions and no acquisitions during the year.

PAGE 19 OF 25

HOST HOTELS & RESORTS, INC.

Reconciliation of Net Income to

EBITDA, EBITDAre and Adjusted EBITDAre and Diluted Earnings per Common Share to

NAREIT and Adjusted Funds From Operations per Diluted Share for Full Year 2026 Forecasts (1) (cont.)

(unaudited, in millions)

•This forecast makes no assumptions on the use of the remaining proceeds from the February 2026 Four Seasons sale following the second quarter special dividend and first quarter stock repurchases. We will weigh potential cash uses which may include, subject to market conditions, acquisitions, other investments in our portfolio, continued common stock repurchases or increased dividends, which dividends could be in excess of taxable income. Any additional special dividend will be subject to approval by Host Inc.’s Board of Directors.

•Assumes an approximate $16 million to $20 million contribution to net income and Adjusted EBITDAre from the sale of condominium units.

•Includes $7 million of gain from business interruption proceeds related to hurricane claims already received in 2026, but assumes no further business interruption proceeds during the year.

For a discussion of items that may affect forecast results, see the Notes to Financial Information.

PAGE 20 OF 25

HOST HOTELS & RESORTS, INC.

Schedule of Comparable Hotel Results for Full Year 2026 Forecasts (1)(2)

(unaudited, in millions)

Full Year 2026

Low-end of range High-end of range

Operating profit margin(3)

14.9 % 15.1 %

Comparable hotel EBITDA margin(3)

29.6 % 29.7 %

Net income $ 944  $ 962

Depreciation and amortization 757  757

Interest expense 241  241

Provision for income taxes 52  54

Gain on sale of property and corporate level income/expense (199) (200)

Property transaction adjustments(4)

(11) (11)

Non-comparable hotel results, net(5)

(36) (36)

Condominium sales (6)

(16) (20)

Comparable hotel EBITDA(1)

$ 1,732  $ 1,747

___________

(1)See "Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre and Diluted Earnings per Common Share to NAREIT and Adjusted Funds From Operations per Diluted Share for Full Year 2026 Forecasts" for other forecast assumptions.

(2)Forecast comparable hotel results include 74 hotels (of our 75 hotels owned at June 30, 2026) that we have assumed will be classified as comparable as of December 31, 2026. See footnote (5) for details on our non-comparable hotel results.

(3)Profit margins are calculated by dividing the applicable operating profit by the related revenue amount. GAAP profit margins are calculated using amounts presented in the unaudited condensed consolidated statements of operations. Comparable hotel margins are calculated using amounts presented in the following tables, which include reconciliations to the applicable GAAP results:

Low-end of range High-end of range

Adjustments Adjustments

GAAP Results Property transaction adjustments Non-comparable hotel

results, net Condo-minium sales Depreciation and

corporate level items Comparable hotel

Results GAAP Results Property transaction adjustments Non-comparable hotel

results, net Condo-minium sales Depreciation and

corporate level items Comparable hotel

Results

Revenues

Rooms $ 3,575  $ (32) $ (40) $ —  $ —  $ 3,503  $ 3,592  $ (32) $ (40) $ —  $ —  $ 3,520

Food and beverage 1,827  (16) (29) —  —  1,782  1,833  (16) (29) —  —  1,788

Other 722  (7) (14) (139) —  562  728  (7) (14) (143) —  564

Total revenues 6,124  (55) (83) (139) —  5,847  6,153  (55) (83) (143) —  5,872

Expenses

Hotel expenses 4,219  (44) (54) (6) —  4,115  4,229  (44) (54) (6) —  4,125

Depreciation and amortization 757  —  —  —  (757) —  757  —  —  —  (757) —

Cost of goods sold 117  —  —  (117) —  —  117  —  —  (117) —  —

Corporate and other expenses 126  —  —  —  (126) —  126  —  —  —  (126) —

Net gain on insurance settlements (7) —  7  —  —  —  (7) —  7  —  —  —

Total expenses 5,212  (44) (47) (123) (883) 4,115  5,222  (44) (47) (123) (883) 4,125

Operating Profit - Comparable hotel EBITDA $ 912  $ (11) $ (36) $ (16) $ 883  $ 1,732  $ 931  $ (11) $ (36) $ (20) $ 883  $ 1,747

(4)Property transaction adjustments represent the following items: (i) the elimination of results of operations of hotels sold or held-for-sale as of the reporting date, which operations are included in our unaudited condensed consolidated statements of operations as continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date. Forecast data also eliminates results of hotels assumed to be sold during the year.

(5)Non-comparable hotel results, net, includes the following items: (i) the results of operations of our non-comparable hotels, which operations are included in our condensed consolidated statements of operations as continuing operations, and (ii) gains on business interruption proceeds covering lost revenues while the property was considered non-comparable. The following property is expected to be non-comparable for full year 2026:

•The Don CeSar (business disruption due to Hurricane Helene resulting in closure of the hotel beginning at the end of September 2024, reopened in March 2025)

(6)    Includes revenues and costs, including marketing and administrative expenses of approximately $6 million, related to the development and sale of condominium units adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort.

PAGE 21 OF 25

HOST HOTELS & RESORTS, INC.

Notes to Financial Information

FORECASTS

Our forecast of net income, earnings per diluted share, NAREIT and Adjusted FFO per diluted share, EBITDA, EBITDAre, Adjusted EBITDAre and comparable hotel results are forward-looking statements and are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause actual results and performance to differ materially from those expressed or implied by these forecasts. Although we believe the expectations reflected in the forecasts are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that the results will not be materially different. Risks that may affect these assumptions and forecasts include the following: potential changes in overall economic outlook make it inherently difficult to forecast the level of RevPAR, earnings and profitability; the amount and timing of debt payments may change significantly based on market conditions, which will directly affect the level of interest expense and net income; the amount and timing of transactions involving shares of our common stock may change based on market conditions; and other risks and uncertainties associated with our business described herein and in our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed with the SEC.

COMPARABLE HOTEL OPERATING STATISTICS AND RESULTS

To facilitate a year-to-year comparison of our operations, we present certain operating statistics (i.e., Total RevPAR, RevPAR, average daily rate and average occupancy) and operating results (revenues, expenses, hotel EBITDA and associated margins) for the periods included in our reports on a comparable hotel basis in order to enable our investors to better evaluate our operating performance. We define our comparable hotels as those that: (i) are owned or leased by us as of the reporting date and are not classified as held-for-sale; and (ii) have not sustained substantial property damage or business interruption, or undergone large-scale capital projects, in each case requiring closures lasting one month or longer (as further defined below), during the reporting periods being compared.

We make adjustments to include recent acquisitions to include results for periods prior to our ownership. For these hotels, since the year-over-year comparison includes periods prior to our ownership, the changes will not necessarily correspond to changes in our actual results. Additionally, operating results of hotels that we sell are excluded from the comparable hotel set once the transaction has closed or the hotel is classified as held-for-sale.

The hotel business is capital-intensive and renovations are a regular part of the business. Generally, hotels under renovation remain comparable hotels. A large-scale capital project would cause a hotel to be excluded from our comparable hotel set if it requires the entire property to be closed to hotel guests for one month or longer.

Similarly, hotels are excluded from our comparable hotel set from the date that they sustain substantial property damage or business interruption if it requires the property to be closed to hotel guests for one month or longer. In each case, these hotels are returned to the comparable hotel set when the operations of the hotel have been included in our consolidated results for one full calendar year after the hotel has reopened. Often, related to events that cause property damage and the closure of a hotel, we will collect business interruption insurance proceeds for the near-term loss of business. These proceeds are included in net gain on insurance settlements on our condensed consolidated statements of operations. Business interruption insurance gains covering lost revenues while the property was considered non-comparable also will be excluded from the comparable hotel results.

Of the 75 hotels that we owned as of June 30, 2026, 74 have been classified as comparable hotels. The operating results of the following properties that we owned as of June 30, 2026 are excluded from comparable hotel results for these periods:

•The Don CeSar (business disruption due to Hurricane Helene resulting in closure of the hotel beginning at the end of September 2024, reopened in March 2025); and

•Operations related to the development and sale of condominium units on a development parcel adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort.

FOREIGN CURRENCY TRANSLATION

Operating results denominated in foreign currencies are translated using the prevailing exchange rates on the date of the transaction, or monthly based on the weighted average exchange rate for the period. Therefore, hotel statistics and results for non-U.S. properties include the effect of currency fluctuations, consistent with our financial statement presentation.

NON-GAAP FINANCIAL MEASURES

Included in this press release are certain “non-GAAP financial measures,” which are measures of our historical or future financial performance that are not calculated and presented in accordance with GAAP, within the meaning of applicable SEC rules. They are as follows: (i) FFO and FFO per diluted share (both NAREIT and Adjusted), (ii) EBITDA, both at the hotel level and company-wide, (iii) EBITDAre and Adjusted EBITDAre, and (iv) Comparable Hotel Operating Statistics and Results. The following discussion defines these measures and presents why we believe they are useful supplemental measures of our performance.

NAREIT FFO AND NAREIT FFO PER DILUTED SHARE

We present NAREIT FFO and NAREIT FFO per diluted share as non-GAAP measures of our performance in addition to our earnings per share (calculated in accordance with GAAP). We calculate NAREIT FFO per diluted share as our NAREIT FFO (defined as set forth

PAGE 22 OF 25

HOST HOTELS & RESORTS, INC.

Notes to Financial Information (cont.)

below) for a given operating period, as adjusted for the effect of dilutive securities, divided by the number of fully diluted shares outstanding during such period, in accordance with NAREIT guidelines. As noted in NAREIT’s Funds From Operations White Paper – 2018 Restatement, NAREIT defines FFO as net income (calculated in accordance with GAAP) excluding depreciation and amortization related to certain real estate assets, gains and losses from the sale of certain real estate assets, gains and losses from change in control, impairment expense of certain real estate assets and investments and adjustments for consolidated partially owned entities and unconsolidated affiliates. Adjustments for consolidated partially owned entities and unconsolidated affiliates are calculated to reflect our pro rata share of the FFO of those entities on the same basis.

We believe that NAREIT FFO per diluted share is a useful supplemental measure of our operating performance and that the presentation of NAREIT FFO per diluted share, when combined with the primary GAAP presentation of diluted earnings per share, provides beneficial information to investors. By excluding the effect of real estate depreciation, amortization, impairment expense and gains and losses from sales of depreciable real estate, all of which are based on historical cost accounting and which may be of lesser significance in evaluating current performance, we believe that such measures can facilitate comparisons of operating performance between periods and with other REITs, even though NAREIT FFO per diluted share does not represent an amount that accrues directly to holders of our common stock. Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. As noted by NAREIT in its Funds From Operations White Paper – 2018 Restatement, the primary purpose for including FFO as a supplemental measure of operating performance of a REIT is to address the artificial nature of historical cost depreciation and amortization of real estate and real estate-related assets mandated by GAAP. For these reasons, NAREIT adopted the FFO metric in order to promote a uniform industry-wide measure of REIT operating performance.

Adjusted FFO per Diluted Share

We also present Adjusted FFO per diluted share when evaluating our performance because management believes that the exclusion of certain additional items described below provides useful supplemental information to investors regarding our ongoing operating performance. Management historically has made the adjustments detailed below in evaluating our performance, in our annual budget process and for our compensation programs. We believe that the presentation of Adjusted FFO per diluted share, when combined with both the primary GAAP presentation of diluted earnings per share and FFO per diluted share as defined by NAREIT, provides useful supplemental information that is beneficial to an investor’s understanding of our operating performance. We adjust NAREIT FFO per diluted share for the following items, which may occur in any period, and refer to this measure as Adjusted FFO per diluted share:

•Gains and Losses on the Extinguishment of Debt – We exclude the effect of finance charges and premiums associated with the extinguishment of debt, including the acceleration of the write-off of deferred financing costs from the original issuance of the debt being redeemed or retired and incremental interest expense incurred during the refinancing period. We also exclude the gains on debt repurchases and the original issuance costs associated with the retirement of preferred stock. We believe that these items are not reflective of our ongoing finance costs.

•Acquisition Costs – Under GAAP, costs associated with completed property acquisitions that are considered business combinations are expensed in the year incurred. We exclude the effect of these costs because we believe they are not reflective of the ongoing performance of the Company.

•Litigation Gains and Losses – We exclude the effect of gains or losses associated with litigation recorded under GAAP that we consider to be outside the ordinary course of business. We believe that including these items is not consistent with our ongoing operating performance.

•Severance Expense – In certain circumstances, we will add back hotel-level severance expenses when we do not believe that such expenses are reflective of the ongoing operation of our properties. Situations that would result in a severance add-back include, but are not limited to, (i) costs incurred as part of a broad-based reconfiguration of the operating model with the specific hotel operator for a portfolio of hotels and (ii) costs incurred at a specific hotel due to a broad-based and significant reconfiguration of a hotel and/or its workforce. We do not add back corporate-level severance costs or severance costs at an individual hotel that we consider to be incurred in the normal course of business.

•Non-Cash Stock-Based Compensation - We exclude the expense recorded for non-cash stock-based compensation, as it represents a non-cash transaction and the add back is consistent with the calculation of Adjusted EBITDA for our financial covenant ratios under our credit facility and senior notes indentures and consistent with the presentation of Adjusted FFO per diluted share for the majority of other lodging REIT filers.

In unusual circumstances, we also may adjust NAREIT FFO for gains or losses that management believes are not representative of the Company’s current operating performance. For example, in 2017, as a result of the reduction of the U.S. federal corporate income tax rate from 35% to 21% by the Tax Cuts and Jobs Act, we remeasured our domestic deferred tax assets as of December 31, 2017 and recorded a one-time adjustment to reduce our deferred tax assets and to increase the provision for income taxes by approximately $11 million. We do not consider this adjustment to be reflective of our ongoing operating performance and, therefore, we excluded this item from Adjusted FFO.

PAGE 23 OF 25

HOST HOTELS & RESORTS, INC.

Notes to Financial Information (cont.)

EBITDA

Earnings before Interest Expense, Income Taxes, Depreciation and Amortization (“EBITDA”) is a commonly used measure of performance in many industries. Management believes EBITDA provides useful information to investors regarding our results of operations because it helps us and our investors evaluate the ongoing operating performance of our properties after removing the impact of the Company’s capital structure (primarily interest expense) and its asset base (primarily depreciation and amortization). Management also believes the use of EBITDA facilitates comparisons between us and other lodging REITs, hotel owners that are not REITs and other capital-intensive companies. Management uses EBITDA to evaluate property-level results and as one measure in determining the value of acquisitions and dispositions and, like FFO and Adjusted FFO per diluted share, it is widely used by management in the annual budget process and for our compensation programs.

EBITDAre and Adjusted EBITDAre

We present EBITDAre in accordance with NAREIT guidelines, as defined in its September 2017 white paper “Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate,” to provide an additional performance measure to facilitate the evaluation and comparison of the Company’s results with other REITs. NAREIT defines EBITDAre as net income (calculated in accordance with GAAP) excluding interest expense, income tax, depreciation and amortization, gains or losses on disposition of depreciated property (including gains or losses on change of control), impairment expense for depreciated property and of investments in unconsolidated affiliates caused by a decrease in value of depreciated property in the affiliate, and adjustments to reflect the entity’s pro rata share of EBITDAre of unconsolidated affiliates.

We make additional adjustments to EBITDAre when evaluating our performance because we believe that the exclusion of certain additional items described below provides useful supplemental information to investors regarding our ongoing operating performance. We believe that the presentation of Adjusted EBITDAre, when combined with the primary GAAP presentation of net income, is beneficial to an investor’s understanding of our operating performance. Adjusted EBITDAre also is similar to the measure used to calculate certain credit ratios for our credit facility and senior notes. We adjust EBITDAre for the following items, which may occur in any period, and refer to this measure as Adjusted EBITDAre:

•Property Insurance Gains and Property Damage Losses – We exclude the effect of property insurance gains reflected in our condensed consolidated statements of operations because we believe that including them in Adjusted EBITDAre is not consistent with reflecting the ongoing performance of our assets. In addition, property insurance gains could be less important to investors given that the depreciated asset book value written off in connection with the calculation of the property insurance gain often does not reflect the market value of real estate assets. Similarly, losses from property damage or remediation costs that are not covered through insurance are excluded.

•Acquisition Costs – Under GAAP, costs associated with completed property acquisitions that are considered business combinations are expensed in the year incurred. We exclude the effect of these costs because we believe they are not reflective of the ongoing performance of the Company.

•Litigation Gains and Losses – We exclude the effect of gains or losses associated with litigation recorded under GAAP that we consider to be outside the ordinary course of business. We believe that including these items is not consistent with our ongoing operating performance.

•Severance Expense – In certain circumstances, we will add back hotel-level severance expenses when we do not believe that such expenses are reflective of the ongoing operation of our properties. Situations that would result in a severance add-back include, but are not limited to, (i) costs incurred as part of a broad-based reconfiguration of the operating model with the specific hotel operator for a portfolio of hotels and (ii) costs incurred at a specific hotel due to a broad-based and significant reconfiguration of a hotel and/or its workforce. We do not add back corporate-level severance costs or severance costs at an individual hotel that we consider to be incurred in the normal course of business.

•Non-Cash Stock-Based Compensation - We exclude the expense recorded for non-cash stock-based compensation, as it represents a non-cash transaction and the add back is consistent with the calculation of Adjusted EBITDA for our financial covenant ratios under our credit facility and senior notes indentures and consistent with the presentation of Adjusted EBITDAre for the majority of other lodging REIT filers.

In unusual circumstances, we also may adjust EBITDAre for gains or losses that management believes are not representative of the Company’s current operating performance. The last adjustment of this nature was a 2013 exclusion of a gain from an eminent domain claim.

Limitations on the Use of NAREIT FFO per Diluted Share, Adjusted FFO per Diluted Share, EBITDA, EBITDAre and Adjusted EBITDAre

We calculate EBITDAre and NAREIT FFO per diluted share in accordance with standards established by NAREIT, which may not be comparable to measures calculated by other companies that do not use the NAREIT definition of EBITDAre and FFO or do not calculate FFO per diluted share in accordance with NAREIT guidance. In addition, although EBITDAre and FFO per diluted share are useful measures when comparing our results to other REITs, they may not be helpful to investors when comparing us to non-REITs.

PAGE 24 OF 25

HOST HOTELS & RESORTS, INC.

Notes to Financial Information (cont.)

We also calculate Adjusted FFO per diluted share and Adjusted EBITDAre, which measures are not in accordance with NAREIT guidance and may not be comparable to measures calculated by other REITs or by other companies. This information should not be considered as an alternative to net income, operating profit, cash from operations or any other operating performance measure calculated in accordance with GAAP. Cash expenditures for various long-term assets (such as renewal and replacement capital expenditures), interest expense (for EBITDA, EBITDAre and Adjusted EBITDAre purposes only), severance expense related to significant property-level reconfiguration and other items have been, and will be, made and are not reflected in the EBITDA, EBITDAre, Adjusted EBITDAre, NAREIT FFO per diluted share and Adjusted FFO per diluted share presentations. Management compensates for these limitations by separately considering the impact of these excluded items to the extent they are material to operating decisions or assessments of our operating performance. Our consolidated statements of operations and consolidated statements of cash flows in the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q include interest expense, capital expenditures, and other excluded items, all of which should be considered when evaluating our performance, as well as the usefulness of our non-GAAP financial measures. Additionally, NAREIT FFO per diluted share, Adjusted FFO per diluted share, EBITDA, EBITDAre and Adjusted EBITDAre should not be considered as measures of our liquidity or indicative of funds available to fund our cash needs, including our ability to make cash distributions. In addition, NAREIT FFO per diluted share and Adjusted FFO per diluted share do not measure, and should not be used as measures of, amounts that accrue directly to stockholders’ benefit.

Similarly, EBITDAre, Adjusted EBITDAre, NAREIT FFO and Adjusted FFO per diluted share include adjustments for the pro rata share of our equity investments, and NAREIT FFO and Adjusted FFO per diluted share include adjustments for the pro rata share of non-controlling partners in consolidated partnerships. Our equity investments consist of interests ranging from 11% to 67% in seven domestic partnerships that own a total of 120 properties and a vacation ownership development. Due to the voting rights of the outside owners, we do not control and, therefore, do not consolidate these entities. The non-controlling partners in consolidated partnerships primarily consist of the approximate 1% interest in Host LP held by unaffiliated limited partners and a 15% interest held by an unaffiliated limited partner in a partnership owning one hotel for which we do control the entity and, therefore, consolidate its operations. These pro rata results for NAREIT FFO and Adjusted FFO per diluted share, EBITDAre and Adjusted EBITDAre were calculated as set forth in the definitions above. Readers should be cautioned that the pro rata results presented in these measures for consolidated partnerships (for NAREIT FFO and Adjusted FFO per diluted share) and equity investments may not accurately depict the legal and economic implications of our investments in these entities.

Comparable Hotel Property Level Operating Results

We present certain operating results for our hotels, such as hotel revenues, expenses, food and beverage profit, and EBITDA (and the related margins), on a comparable hotel, or "same store," basis as supplemental information for our investors. Our comparable hotel results present operating results for our hotels without giving effect to dispositions or properties that experienced closures due to renovations or property damage, as discussed in “Comparable Hotel Operating Statistics and Results” above. We present comparable hotel EBITDA to help us and our investors evaluate the ongoing operating performance of our comparable hotels after removing the impact of the Company’s capital structure (primarily interest expense) and its asset base (primarily depreciation and amortization expense). Corporate-level costs and expenses also are removed to arrive at property-level results. We believe these property-level results provide investors with supplemental information about the ongoing operating performance of our comparable hotels. Comparable hotel results are presented both by location and for the Company’s properties in the aggregate. We eliminate from our comparable hotel level operating results severance costs related to broad-based and significant property-level reconfiguration that is not considered to be within the normal course of business, as we believe this elimination provides useful supplemental information that is beneficial to an investor’s understanding of our ongoing operating performance. We also eliminate depreciation and amortization expense because, even though depreciation and amortization expense are property-level expenses, these non-cash expenses, which are based on historical cost accounting for real estate assets, implicitly assume that the value of real estate assets diminishes predictably over time. As noted earlier, because real estate values historically have risen or fallen with market conditions, many real estate industry investors have considered presentation of historical cost accounting for operating results to be insufficient.

Because of the elimination of corporate-level costs and expenses, gains or losses on disposition, certain severance expenses and depreciation and amortization expense, the comparable hotel operating results we present do not represent our total revenues, expenses, operating profit or net income and should not be used to evaluate our performance as a whole. Management compensates for these limitations by separately considering the impact of these excluded items to the extent they are material to operating decisions or assessments of our operating performance. Our condensed consolidated statements of operations include such amounts, all of which should be considered by investors when evaluating our performance.

We present these hotel operating results on a comparable hotel basis because we believe that doing so provides investors and management with useful information for evaluating the period-to-period performance of our hotels and facilitates comparisons with other hotel REITs and hotel owners. In particular, these measures assist management and investors in distinguishing whether increases or decreases in revenues and/or expenses are due to growth or decline of operations at comparable hotels (which represent the vast majority of our portfolio) or from other factors. While management believes that presentation of comparable hotel results is a supplemental measure that provides useful information in evaluating our ongoing performance, this measure is not used to allocate resources or to assess the operating performance of each of our hotels, as these decisions are based on data for individual hotels and are not based on comparable hotel results in the aggregate. For these reasons, we believe comparable hotel operating results, when combined with the presentation of GAAP operating profit, revenues and expenses, provide useful information to investors and management.

PAGE 25 OF 25

EX-99.2

EX-99.2

Filename: hst-supplementalfinanciali.htm · Sequence: 3

HST-Supplemental Financial Information

Exhibit 99.2

Supplemental Financial Information

JUNE 30, 2026

ANDAZ MAUI AT WAILEA RESORT

TABLE OF CONTENTS

3

OVERVIEW

About Host Hotels & Resorts

4

Analyst Coverage

5

Forward-Looking Statements

6

Non-GAAP Financial Measures

6

7

PROPERTY LEVEL DATA AND CORPORATE MEASURES

Comparable Hotel Results by Location

8

Historical Comparable Hotel Results

16

Comparable Hotel Results 2026 Forecast and Full Year 2025

18

Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre and Diluted Earnings per Common Share to NAREIT and Adjusted

Funds From Operations per Diluted Share for Full Year 2026 Forecasts

20

Ground Lease Summary as of December 31, 2025

22

23

CAPITALIZATION

Comparative Capitalization

24

Consolidated Debt Summary

25

Consolidated Debt Maturity

26

27

FINANCIAL COVENANTS

Credit Facility and Senior Notes Financial Performance Tests

28

Reconciliation of GAAP Leverage Ratio to Credit Facility Leverage Ratio

29

Reconciliation of GAAP Interest Coverage Ratio to Credit Facility Unsecured Interest Coverage Ratio

30

Reconciliation of GAAP Interest Coverage Ratio to Credit Facility Fixed Charge Coverage Ratio

31

Reconciliation of GAAP Indebtedness Test to Senior Notes Indenture Indebtedness Test

32

Reconciliation of GAAP Secured Indebtedness Test to Senior Notes Indenture Secured Indebtedness Test

33

Reconciliation of GAAP Interest Coverage Ratio to Senior Notes Indenture EBITDA-to-Interest Coverage Ratio

34

Reconciliation of GAAP Assets to Indebtedness Test to Senior Notes Unencumbered Assets to Unsecured Indebtedness Test

35

36

NOTES TO SUPPLEMENTAL FINANCIAL INFORMATION

Forecasts

37

Comparable Hotel Operating Statistics and Results

37

Non-GAAP Financial Measures

38

OVERVIEW

PROPERTY LEVEL DATA AND

CORPORATE MEASURES

CAPITALIZATION

FINANCIAL COVENANTS

NOTES TO SUPPLEMENTAL

FINANCIAL INFORMATION

HOST HOTELS & RESORTS CORPORATE HEADQUARTERS

© Host Hotels & Resorts, Inc.4

BAKER'S CAY RESORT KEY LARGO, CURIO COLLECTION BY HILTON

About Host Hotels & Resorts

PREMIER U.S. LODGING REIT

S&P

500

COMPANY

$16.5

BILLION

MARKET CAP(1)

$20.0

BILLION

ENTERPRISE VALUE(1)

LUXURY & UPPER UPSCALE CONSOLIDATED HOTELS PORTFOLIO(2)

75

HOTELS

41,300

ROOMS

21

TOP U.S. MARKETS

(1) Based on market cap as of June 30, 2026. See Comparative Capitalization for calculation.

(2) At August 5, 2026.

© Host Hotels & Resorts, Inc.5

Analyst Coverage

BAIRD

Mike Bellisario

414-298-6130

mbellisario@rwbaird.com

DEUTSCHE BANK SECURITIES

Chris Woronka

212-250-9376

chris.woronka@db.com

MORGAN STANLEY & CO.

Stephen Grambling

212-761-1010

stephen.grambling@morganstanley.com

BARCLAYS

Rich Hightower

212-526-8768

richard.hightower@barclays.com

EVERCORE ISI

Duane Pfennigwerth

212-497-0817

duane.pfennigwerth@evercoreisi.com

RAYMOND JAMES & ASSOCIATES

RJ Milligan

727-567-2585

rjmilligan@raymondjames.com

BOFA SECURITIES, INC.

Shaun Kelley

646-855-1005

shaun.kelley@baml.com

GREEN STREET ADVISORS

Chris Darling

949-640-8780

cdarling@greenst.com

STIFEL, NICOLAUS & CO.

Simon Yarmak

443-224-1345

yarmaks@stifel.com

BMO CAPITAL MARKETS

Ari Klein

212-885-4103

ari.klein@bmo.com

JEFFERIES

David Katz

212-323-3355

dkatz@jefferies.com

TRUIST

C. Patrick Scholes

212-319-3915

patrick.scholes@suntrust.com

CANTOR FITZGERALD

Richard Anderson

929-441-6927

richard.anderson@cantor.com

JPMORGAN

Daniel Politzer

212-622-0110

daniel.politzer@jpmorgan.com

UBS SECURITIES LLC

Robin Farley

212-713-2060

robin.farley@ubs.com

CITI INVESTMENT RESEARCH

Smedes Rose

212-816-6243

smedes.rose@citi.com

KOLYITCS

David Abraham

+44 7527 493597

david.abraham@kolytics.com

WELLS FARGO SECURITIES LLC

James Feldman

212-214-5328

james.feldman@wellsfargo.com

COMPASS POINT RESEARCH & TRADING, LLC

Ken Billingsley

202-534-1393

kbillingsley@compasspointllc.com

LADENBURG THALMANN & CO.

Floris Van Dijkum

212-409-2075

fvandijkum@ladenburg.com

WOLFE RESEARCH

Logan Epstein

646-582-9267

lepstein@wolferesearch.com

The Company is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding the Company’s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of the Company or its

management. The Company does not by its reference above imply its endorsement of or concurrence with any of such analysts’ information, conclusions or recommendations.

© Host Hotels & Resorts, Inc.6

Overview

ABOUT HOST HOTELS & RESORTS

Host Hotels & Resorts, Inc., herein referred to as “we,” “Host Inc.,” or the “Company,” is a self-managed and self-administered real estate investment trust that

owns hotel properties. We conduct our operations as an umbrella partnership REIT through an operating partnership, Host Hotels & Resorts, L.P. (“Host LP”), of

which we are the sole general partner. When distinguishing between Host Inc. and Host LP, the primary difference is approximately 1% of the partnership

interests in Host LP held by outside partners as of June 30, 2026, which are non-controlling interests in Host LP in our consolidated balance sheets and are

included in net (income) loss attributable to non-controlling interests in our condensed consolidated statements of operations. Readers are encouraged to find

further detail regarding our organizational structure in our annual report on Form 10-K.

FORWARD-LOOKING STATEMENTS

This supplemental information contains forward-looking statements within the meaning of federal securities regulations. These forward-looking statements

include, but may not be limited to, our expectations regarding the strength of lodging demand, the continued recovery in Maui from the 2023 wildfires, and 2026

estimates with respect to our business, including our anticipated capital expenditures and financial and operating results. Forward-looking statements are not

guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially

from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to, those described in the Company’s

annual report on Form 10-K and other filings with the SEC. Although the Company believes the expectations reflected in such forward-looking statements are

based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. All information in

this supplemental presentation is as of August 5, 2026, and the Company undertakes no obligation to update any forward-looking statement to conform the

statement to actual results or changes in the Company’s expectations.

NON-GAAP FINANCIAL MEASURES

Included in this supplemental information are certain “non-GAAP financial measures,” which are measures of our historical or future financial performance that

are not calculated and presented in accordance with GAAP (U.S. generally accepted accounting principles), within the meaning of applicable SEC rules. They are

as follows: : (i) Funds From Operations (“FFO”) and FFO per diluted share (both NAREIT and Adjusted), (ii) EBITDA, both at hotel level and company-wide, (iii)

EBITDAre and Adjusted EBITDAre, (iv) Net Operating Income (NOI), (v) Comparable Hotel Operating Statistics and Results and (vi) measures derived from EBITDA

and NOI such as EBITDA multiples and capitalization rates. Also included are reconciliations to the most directly comparable GAAP measures. See the Notes to

Supplemental Financial Information for definitions of these measures, why we believe these measures are useful and limitations on their use.

Also included in this supplemental information is our leverage ratio, unsecured interest coverage ratio and fixed charge coverage ratio, calculated in accordance

with our credit facility, along with our EBITDA to interest coverage ratio, indenture indebtedness test, indenture secured indebtedness test, and indenture

unencumbered assets to unsecured indebtedness test, calculated in accordance with our senior notes indenture covenants. Included with these ratios are

reconciliations calculated in accordance with GAAP. See the Notes to Supplemental Financial Information for information on how these supplemental measures

are calculated, why we believe they are useful and limitations on their use.

© Host Hotels & Resorts, Inc. 7

OVERVIEW

PROPERTY LEVEL DATA AND

CORPORATE MEASURES

CAPITALIZATION

FINANCIAL COVENANTS

NOTES TO SUPPLEMENTAL

FINANCIAL INFORMATION

1 HOTEL NASHVILLE

© Host Hotels & Resorts, Inc.8

Comparable Hotel Results by Location (1)

(unaudited, in millions, except hotel statistics and per room basis)

Quarter ended June 30, 2026

Location

No. of

Properties

No. of

Rooms

Average

Room Rate

Average

Occupancy

Percentage

RevPAR

Total revenues

Total Revenues

per Available

Room

Hotel Net

Income (Loss)

Hotel EBITDA

Miami

2

1,038

$616.76

74.9%

$461.81

$77.3

$793.41

$16.5

$25.3

Maui

3

1,580

638.22

78.7%

502.56

115.0

799.78

14.1

30.4

Jacksonville

1

446

630.70

81.3%

512.97

45.3

1,115.48

15.8

19.0

Florida Gulf Coast

4

1,529

514.48

70.7%

363.86

110.5

793.99

17.3

38.0

Oahu

2

876

495.33

81.3%

402.80

55.0

679.39

6.1

12.6

Phoenix

3

1,565

403.93

68.8%

277.92

94.0

660.16

23.2

35.0

New York

3

2,720

437.16

89.2%

389.80

141.7

572.39

35.4

44.0

Nashville

2

721

381.10

84.3%

321.34

35.5

540.78

7.1

13.4

Los Angeles/Orange County

3

1,067

327.75

76.8%

251.76

37.0

381.15

6.1

8.2

San Diego

3

3,294

310.67

78.0%

242.20

134.1

447.47

27.6

46.8

Washington, D.C. (CBD)

4

2,788

336.12

77.3%

259.86

95.7

377.17

22.2

34.5

San Francisco/San Jose

6

4,162

264.77

73.4%

194.22

105.8

279.47

7.8

21.0

Boston

2

1,496

349.78

79.4%

277.73

48.3

354.77

13.5

18.0

Northern Virginia

2

916

291.01

75.8%

220.55

28.1

337.27

5.5

8.7

Philadelphia

2

810

283.74

83.3%

236.29

26.2

355.28

8.0

9.6

Orlando

1

2,004

243.69

67.7%

164.97

77.3

423.75

17.4

25.0

Austin

2

769

246.75

69.8%

172.16

23.1

329.71

1.5

7.3

Chicago

3

1,562

286.67

83.7%

239.87

48.4

340.59

13.6

17.7

Houston

4

1,710

220.55

68.3%

150.69

31.9

204.83

6.7

10.3

Atlanta

2

810

229.73

71.3%

163.81

20.3

276.00

2.5

6.6

San Antonio

2

1,512

228.58

65.9%

150.73

31.8

231.44

6.1

9.8

Seattle

2

1,315

259.80

72.6%

188.68

30.9

258.45

3.4

6.3

New Orleans

1

1,333

195.91

63.3%

123.98

24.9

205.21

5.9

9.0

Denver

3

1,342

211.99

68.6%

145.45

26.8

219.33

6.3

9.6

Other

7

2,110

295.45

74.3%

219.48

63.6

332.71

12.3

19.6

Other property level (2)

1.5

1.5

Domestic

69

39,475

339.81

75.2%

255.42

1,528.5

425.08

303.4

487.2

International

5

1,499

219.64

67.8%

149.01

29.9

219.29

8.3

9.9

All Locations - comparable hotels

74

40,974

335.83

74.9%

251.53

1,558.4

417.58

311.7

497.1

Non-comparable hotels

1

348

25.6

5.5

10.1

Property transaction adjustments (3)

3.4

(0.3)

Gain on sale of property and corporate

level income/expense (4)

52.5

(75.9)

(0.5)

Total

75

41,322

$—

$—

$1,639.9

$—

$241.3

$506.4

(1)See the Notes to Supplemental Financial Information for a discussion of comparable hotel operating statistics. CBD of a location refers to the central business district. RevPAR is the product of the average daily room rate charged and the average daily occupancy

achieved. Total Revenues per Available Room ("Total RevPAR") is a summary measure of hotel results calculated by dividing the sum of room, food and beverage and other ancillary service revenue by room nights available to guests for the period. It includes ancillary

revenues not included with RevPAR.

(2)Other property level includes certain ancillary revenues and related expenses, as well as non-income taxes on TRS leases.

(3)Property transaction adjustments represent the following items: (i) the elimination of results of operations of our hotels sold or held-for-sale as of the reporting date, which operations are included in our unaudited condensed consolidated statements of operations as

continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date.

(4)Certain Items from our statement of operations are not allocated to individual properties, including interest on our senior notes, corporate and other expenses, and the provision for income taxes. These items are reflected in “gain on sale of property and corporate

level income/expense.” Refer to the table below for reconciliation of net income to EBITDA by location.

© Host Hotels & Resorts, Inc.9

Comparable Hotel Results by Location

(unaudited, in millions, except hotel statistics and per room basis)

Quarter ended June 30, 2026

Location

No. of

Properties

No. of

Rooms

Hotel Net

Income (Loss)

Plus:

Depreciation

Plus: Interest

Expense

Plus: Income Tax

Plus: Property

Transaction

Adjustments

Equals: Hotel

EBITDA

Miami

2

1,038

$16.5

$8.8

$—

$—

$—

$25.3

Maui

3

1,580

14.1

16.3

30.4

Jacksonville

1

446

15.8

3.2

19.0

Florida Gulf Coast

4

1,529

17.3

20.7

38.0

Oahu

2

876

6.1

6.5

12.6

Phoenix

3

1,565

23.2

11.8

35.0

New York

3

2,720

35.4

8.6

44.0

Nashville

2

721

7.1

6.3

13.4

Los Angeles/Orange County

3

1,067

6.1

2.1

8.2

San Diego

3

3,294

27.6

19.2

46.8

Washington, D.C. (CBD)

4

2,788

22.2

12.3

34.5

San Francisco/San Jose

6

4,162

7.8

13.2

21.0

Boston

2

1,496

13.5

4.5

18.0

Northern Virginia

2

916

5.5

3.2

8.7

Philadelphia

2

810

8.0

1.6

9.6

Orlando

1

2,004

17.4

7.6

25.0

Austin

2

769

1.5

4.8

1.0

7.3

Chicago

3

1,562

13.6

4.1

17.7

Houston

4

1,710

6.7

3.6

10.3

Atlanta

2

810

2.5

4.1

6.6

San Antonio

2

1,512

6.1

3.7

9.8

Seattle

2

1,315

3.4

2.9

6.3

New Orleans

1

1,333

5.9

3.1

9.0

Denver

3

1,342

6.3

3.3

9.6

Other

7

2,110

12.3

7.0

0.3

19.6

Other property level (1)

1.5

1.5

Domestic

69

39,475

303.4

182.5

1.0

0.3

487.2

International

5

1,499

8.3

1.6

9.9

All Locations - comparable hotels

74

40,974

$311.7

$184.1

$1.0

$—

$0.3

$497.1

Non-comparable hotels

1

348

5.5

4.6

10.1

Property transaction adjustments (2)

(0.3)

(0.3)

Gain on sale of property and corporate level

income/expense (3)

(75.9)

0.4

57.4

17.6

(0.5)

Total

75

41,322

$241.3

$189.1

$58.4

$17.6

$—

$506.4

(1)Other property level includes certain ancillary revenues and related expenses, as well as non-income taxes on TRS leases.

(2)Property transaction adjustments represent the following items: (i) the elimination of results of operations of our hotels sold or held-for-sale as of the reporting date, which operations are included in our unaudited condensed consolidated statements of operations

as continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date.

(3)Certain items from our statement of operations are not allocated to individual properties, including interest on our senior notes, corporate and other expenses, and the provision for income taxes. These items are reflected in “gain on sale of property and corporate

level income/expense.”

© Host Hotels & Resorts, Inc.10

Comparable Hotel Results by Location

(unaudited, in millions, except hotel statistics and per room basis)

Quarter ended June 30, 2025

Location

No. of

Properties

No. of

Rooms

Average

Room Rate

Average

Occupancy

Percentage

RevPAR

Total revenues

Total Revenues

per Available

Room

Hotel Net

Income (Loss)

Hotel EBITDA

Miami

2

1,038

$539.89

75.7%

$408.45

$71.2

$732.84

$14.4

$23.1

Maui

3

1,580

626.40

70.6%

442.40

104.0

723.40

10.2

26.1

Jacksonville

1

446

591.43

83.3%

492.44

44.7

1,100.34

15.6

18.8

Florida Gulf Coast

4

1,529

471.48

71.2%

335.60

105.1

755.64

13.0

32.3

Oahu

2

876

483.12

83.1%

401.38

49.2

608.74

5.2

11.4

Phoenix

3

1,565

374.07

71.6%

267.76

92.7

659.33

22.8

33.6

New York

3

2,720

409.04

89.7%

366.84

134.2

542.26

28.9

41.2

Nashville

2

721

359.88

84.2%

303.14

33.3

507.51

6.4

12.5

Los Angeles/Orange County

3

1,067

300.14

78.6%

235.89

35.1

361.04

4.0

6.8

San Diego

3

3,294

302.46

78.9%

238.56

134.3

448.16

31.4

47.2

Washington, D.C. (CBD)

4

2,788

332.88

67.0%

223.12

79.5

313.23

22.3

28.2

San Francisco/San Jose

6

4,162

244.24

72.4%

176.83

100.9

266.41

3.9

18.0

Boston

2

1,496

329.47

82.3%

271.06

45.9

337.00

14.3

18.7

Northern Virginia

2

916

280.77

67.8%

190.41

24.8

297.05

5.0

7.8

Philadelphia

2

810

256.55

85.5%

219.35

24.0

325.22

6.1

8.6

Orlando

1

2,004

235.65

72.3%

170.30

77.5

424.67

28.8

27.4

Austin

2

769

228.65

48.7%

111.26

15.0

214.94

1.9

6.6

Chicago

3

1,562

271.79

78.9%

214.31

43.1

303.52

10.5

14.5

Houston

4

1,710

211.13

69.2%

146.16

31.1

199.15

5.6

9.6

Atlanta

2

810

217.16

68.3%

148.32

19.1

258.74

2.4

6.1

San Antonio

2

1,512

231.54

61.1%

141.42

30.6

222.13

5.6

9.2

Seattle

2

1,315

249.43

77.6%

193.66

32.1

268.21

4.1

7.1

New Orleans

1

1,333

201.72

66.0%

133.12

26.4

217.44

6.1

8.4

Denver

3

1,342

209.77

71.2%

149.35

28.3

231.44

6.7

10.4

Other

7

2,110

275.92

75.7%

208.76

61.1

317.32

10.2

17.9

Other property level (1)

0.1

0.1

0.1

Domestic

69

39,475

321.66

74.2%

238.66

1,443.3

401.41

285.5

451.6

International

5

1,499

198.72

70.5%

140.01

28.0

205.53

7.9

9.5

All Locations - comparable hotels

74

40,974

317.39

74.1%

235.05

1,471.3

394.27

293.4

461.1

Non-comparable hotels

1

348

16.1

7.5

11.7

Property transaction adjustments (2)

98.7

24.4

Gain on sale of property and corporate

level income/expense (3)

(76.2)

7.6

Total

75

41,322

$—

$—

$1,586.1

$—

$224.7

$504.8

(1)Other property level includes certain ancillary revenues and related expenses, as well as non-income taxes on TRS leases.

(2)Property transaction adjustments represent the following items: (i) the elimination of results of operations of our hotels sold or held-for-sale as of the reporting date, which operations are included in our unaudited condensed consolidated statements of operations

as continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date.

(3)Certain items from our statement of operations are not allocated to individual properties, including interest on our senior notes, corporate and other expenses, and the provision for income taxes. These items are reflected in “gain on sale of property and corporate

level income/expense.” Refer to the table below for reconciliation of net income to EBITDA by location.

© Host Hotels & Resorts, Inc.11

Comparable Hotel Results by Location

(unaudited, in millions, except hotel statistics and per room basis)

Quarter ended June 30, 2025

Location

No. of

Properties

No. of

Rooms

Hotel Net Income

(Loss)

Plus:

Depreciation

Plus: Interest

Expense

Plus: Income Tax

Plus: Property

Transaction

Adjustments

Equals: Hotel

EBITDA

Miami

2

1,038

$14.4

$8.7

$—

$—

$—

$23.1

Maui

3

1,580

10.2

15.9

26.1

Jacksonville

1

446

15.6

3.2

18.8

Florida Gulf Coast

4

1,529

13.0

19.3

32.3

Oahu

2

876

5.2

6.2

11.4

Phoenix

3

1,565

22.8

10.8

33.6

New York

3

2,720

28.9

12.3

41.2

Nashville

2

721

6.4

6.1

12.5

Los Angeles/Orange County

3

1,067

4.0

2.8

6.8

San Diego

3

3,294

31.4

15.8

47.2

Washington, D.C. (CBD)

4

2,788

22.3

11.3

(5.4)

28.2

San Francisco/San Jose

6

4,162

3.9

14.1

18.0

Boston

2

1,496

14.3

4.4

18.7

Northern Virginia

2

916

5.0

2.8

7.8

Philadelphia

2

810

6.1

2.5

8.6

Orlando

1

2,004

28.8

13.8

(15.2)

27.4

Austin

2

769

1.9

3.7

1.0

6.6

Chicago

3

1,562

10.5

4.0

14.5

Houston

4

1,710

5.6

5.2

(1.2)

9.6

Atlanta

2

810

2.4

3.7

6.1

San Antonio

2

1,512

5.6

3.6

9.2

Seattle

2

1,315

4.1

3.0

7.1

New Orleans

1

1,333

6.1

2.3

8.4

Denver

3

1,342

6.7

3.7

10.4

Other

7

2,110

10.2

10.3

(2.6)

17.9

Other property level (1)

0.1

0.1

Domestic

69

39,475

285.5

189.5

1.0

(24.4)

451.6

International

5

1,499

7.9

1.6

9.5

All Locations - comparable hotels

74

40,974

$293.4

$191.1

$1.0

$—

$(24.4)

$461.1

Non-comparable hotels

1

348

7.5

4.2

11.7

Property transaction adjustments (2)

24.4

24.4

Gain on sale of property and corporate

level income/expense (3)

(76.2)

0.1

57.1

26.6

7.6

Total

75

41,322

$224.7

$195.4

$58.1

$26.6

$—

$504.8

(1)Other property level includes certain ancillary revenues and related expenses, as well as non-income taxes on TRS leases.

(2)Property transaction adjustments represent the following items: (i) the elimination of results of operations of our hotels sold or held-for-sale as of the reporting date, which operations are included in our unaudited condensed consolidated statements of operations

as continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date.

(3)Certain items from our statement of operations are not allocated to individual properties, including interest on our senior notes, corporate and other expenses, and the provision for income taxes. These items are reflected in “gain on sale of property and corporate

level income/expense.”

© Host Hotels & Resorts, Inc.12

Comparable Hotel Results by Location (1)

(unaudited, in millions, except hotel statistics and per room basis)

Year-to-date ended June 30, 2026

Location

No. of

Properties

No. of

Rooms

Average

Room Rate

Average

Occupancy

Percentage

RevPAR

Total revenues

Total Revenues

per Available

Room

Hotel Net

Income (Loss)

Hotel EBITDA

Miami

2

1,038

$673.81

81.0%

$545.85

$180.4

$930.88

$51.3

$68.9

Maui

3

1,580

653.02

78.4%

511.68

228.9

800.33

28.7

62.0

Jacksonville

1

446

600.19

77.3%

464.05

85.0

1,053.06

27.5

33.9

Florida Gulf Coast

4

1,529

608.76

74.9%

456.15

269.9

975.21

69.7

111.2

Oahu

2

876

495.30

79.0%

391.44

100.7

625.92

7.8

20.9

Phoenix

3

1,565

472.02

75.9%

358.47

224.0

790.62

73.6

96.6

New York

3

2,720

393.13

84.8%

333.54

244.0

495.64

46.7

64.2

Nashville

2

721

361.24

80.5%

290.86

64.4

493.61

11.1

23.8

Los Angeles/Orange County

3

1,067

321.24

77.7%

249.55

72.1

373.11

11.2

15.3

San Diego

3

3,294

311.73

76.5%

238.61

271.4

455.25

58.3

95.7

Washington, D.C. (CBD)

4

2,788

321.87

70.1%

225.77

168.9

334.66

29.3

53.8

San Francisco/San Jose

6

4,162

303.55

71.5%

216.93

235.8

312.99

37.4

64.4

Boston

2

1,496

303.85

69.5%

211.11

78.5

290.06

15.3

24.4

Northern Virginia

2

916

280.37

72.5%

203.24

51.8

312.46

8.2

14.7

Philadelphia

2

810

255.68

79.3%

202.83

44.9

306.03

10.6

13.9

Orlando

1

2,004

256.74

71.9%

184.70

168.9

465.92

51.6

60.0

Austin

2

769

258.69

68.7%

177.67

46.0

330.14

3.6

15.2

Chicago

3

1,562

246.91

67.8%

167.52

68.8

243.35

6.0

14.2

Houston

4

1,710

225.00

71.5%

160.92

68.2

220.30

15.7

23.5

Atlanta

2

810

226.33

69.8%

158.01

40.2

274.07

4.9

12.7

San Antonio

2

1,512

235.02

65.5%

153.94

68.0

248.65

15.4

22.7

Seattle

2

1,315

238.46

64.0%

152.70

50.5

212.26

(0.7)

5.1

New Orleans

1

1,333

200.17

63.7%

127.41

51.2

212.03

12.4

18.8

Denver

3

1,342

201.44

62.0%

124.95

46.9

193.16

9.2

16.0

Other

7

2,110

301.03

70.5%

212.29

120.8

316.30

25.7

35.1

Other property level (2)

(0.6)

(0.6)

Domestic

69

39,475

345.75

72.9%

252.14

3,050.2

426.41

629.9

986.4

International

5

1,499

209.22

64.3%

134.59

52.2

192.47

12.5

15.7

All Locations - comparable hotels

74

40,974

$341.33

72.6%

$247.84

$3,102.4

$417.89

$642.4

$1,002.1

Non-comparable hotels

1

348

49.0

17.6

26.7

Property transaction adjustments (3)

55.0

(0.1)

11.0

Gain on sale of property and corporate

level income/expense (4)

78.6

82.2

232.8

Total

75

41,322

$3,285.0

$742.1

$1,272.6

(1)See the Notes to Supplemental Financial Information for a discussion of comparable hotel operating statistics. CBD of a location refers to the central business district. RevPAR is the product of the average daily room rate charged and the average daily occupancy

achieved. Total Revenues per Available Room ("Total RevPAR") is a summary measure of hotel results calculated by dividing the sum of room, food and beverage and other ancillary service revenue by room nights available to guests for the period. It includes

ancillary revenues not included with RevPAR.

(2)Other property level includes certain ancillary revenues and related expenses, as well as non-income taxes on TRS leases.

(3)Property transaction adjustments represent the following items: (i) the elimination of results of operations of our hotels sold or held-for-sale as of the reporting date, which operations are included in our unaudited condensed consolidated statements of operations

as continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date.

(4)Certain items from our statement of operations are not allocated to individual properties, including interest on our senior notes, corporate and other expenses, and the provision for income taxes. These items are reflected in “gain on sale of property and corporate

level income/expense.” Refer to the table below for reconciliation of net income to EBITDA by location.

© Host Hotels & Resorts, Inc.13

Comparable Hotel Results by Location

(unaudited, in millions, except hotel statistics and per room basis)

Year-to-date ended June 30, 2026

Location

No. of

Properties

No. of

Rooms

Hotel Net

Income (Loss)

Plus:

Depreciation

Plus: Interest

Expense

Plus: Income Tax

Plus: Property

Transaction

Adjustments

Equals: Hotel

EBITDA

Miami

2

1,038

$51.3

$17.6

$—

$—

$—

$68.9

Maui

3

1,580

28.7

33.3

62.0

Jacksonville

1

446

27.5

6.4

33.9

Florida Gulf Coast

4

1,529

69.7

41.5

111.2

Oahu

2

876

7.8

13.1

20.9

Phoenix

3

1,565

73.6

23.0

96.6

New York

3

2,720

46.7

17.5

64.2

Nashville

2

721

11.1

12.7

23.8

Los Angeles/Orange County

3

1,067

11.2

4.1

15.3

San Diego

3

3,294

58.3

37.4

95.7

Washington, D.C. (CBD)

4

2,788

29.3

24.5

53.8

San Francisco/San Jose

6

4,162

37.4

27.0

64.4

Boston

2

1,496

15.3

9.1

24.4

Northern Virginia

2

916

8.2

6.5

14.7

Philadelphia

2

810

10.6

3.3

13.9

Orlando

1

2,004

51.6

15.3

(6.9)

60.0

Austin

2

769

3.6

9.7

1.9

15.2

Chicago

3

1,562

6.0

8.2

14.2

Houston

4

1,710

15.7

7.2

0.6

23.5

Atlanta

2

810

4.9

7.8

12.7

San Antonio

2

1,512

15.4

7.3

22.7

Seattle

2

1,315

(0.7)

5.8

5.1

New Orleans

1

1,333

12.4

6.4

18.8

Denver

3

1,342

9.2

6.8

16.0

Other

7

2,110

25.7

14.2

(4.8)

35.1

Other property level (1)

(0.6)

(0.6)

Domestic

69

39,475

629.9

365.7

1.9

(11.1)

986.4

International

5

1,499

12.5

3.2

15.7

All Locations - comparable hotels

74

40,974

$642.4

$368.9

$1.9

$—

$(11.1)

$1,002.1

Non-comparable hotels

1

348

17.6

9.1

26.7

Property transaction adjustments (2)

(0.1)

11.1

11.0

Gain on sale of property and corporate

level income/expense (3)

82.2

0.8

115.3

34.5

232.8

Total

75

41,322

$742.1

$378.8

$117.2

$34.5

$—

$1,272.6

(1)Other property level includes certain ancillary revenues and related expenses, as well as non-income taxes on TRS leases.

(2)Property transaction adjustments represent the following items: (i) the elimination of results of operations of our hotels sold or held-for-sale as of the reporting date, which operations are included in our unaudited condensed consolidated statements of operations

as continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date.

(3)Certain items from our statement of operations are not allocated to individual properties, including interest on our senior notes, corporate and other expenses, and the provision for income taxes. These items are reflected in “gain on sale of property and corporate

level income/expense.”

© Host Hotels & Resorts, Inc.14

Comparable Hotel Results by Location

(unaudited, in millions, except hotel statistics and per room basis)

Year-to-date ended June 30, 2025

Location

No. of

Properties

No. of

Rooms

Average

Room Rate

Average

Occupancy

Percentage

RevPAR

Total revenues

Total Revenues

per Available

Room

Hotel Net

Income (Loss)

Hotel EBITDA

Miami

2

1,038

$599.00

79.8%

$478.27

$159.6

$826.47

$43.0

$60.1

Maui

3

1,580

655.80

72.8%

477.53

216.2

755.82

30.6

62.9

Jacksonville

1

446

561.58

75.7%

425.07

77.9

965.27

23.4

29.7

Florida Gulf Coast

4

1,529

559.53

76.3%

427.18

257.1

928.82

59.0

98.6

Oahu

2

876

483.39

83.4%

403.28

99.3

617.09

10.9

23.2

Phoenix

3

1,565

441.07

76.4%

337.14

216.5

774.12

69.3

90.9

New York

3

2,720

371.30

84.4%

313.21

227.8

462.74

30.2

55.2

Nashville

2

721

342.91

82.3%

282.25

62.6

479.52

9.7

21.8

Los Angeles/Orange County

3

1,067

305.62

78.9%

241.11

70.4

364.68

8.9

14.5

San Diego

3

3,294

302.22

75.8%

229.13

262.9

440.88

60.4

91.4

Washington, D.C. (CBD)

4

2,788

333.15

67.1%

223.51

161.8

320.88

44.5

58.4

San Francisco/San Jose

6

4,162

270.28

68.0%

183.90

207.9

276.02

15.0

43.2

Boston

2

1,496

288.08

73.6%

212.12

75.9

280.32

15.7

24.6

Northern Virginia

2

916

276.19

66.6%

184.04

48.6

293.21

9.3

14.5

Philadelphia

2

810

238.28

81.1%

193.36

43.0

293.01

8.4

13.3

Orlando

1

2,004

248.19

73.6%

182.65

165.5

456.29

67.0

61.8

Austin

2

769

250.94

58.0%

145.46

37.4

269.61

5.7

14.8

Chicago

3

1,562

237.69

66.0%

156.86

63.9

226.03

3.6

11.7

Houston

4

1,710

215.87

71.8%

154.89

67.0

216.34

14.6

22.6

Atlanta

2

810

219.91

67.8%

149.07

37.8

257.84

5.0

11.9

San Antonio

2

1,512

230.63

63.7%

146.88

64.9

237.17

13.7

21.0

Seattle

2

1,315

234.08

66.2%

155.07

51.0

214.18

(0.7)

5.5

New Orleans

1

1,333

229.88

68.7%

157.87

59.7

247.55

16.6

21.4

Denver

3

1,342

198.40

63.4%

125.86

47.6

195.77

6.8

14.1

Other

7

2,110

288.63

70.1%

202.27

116.3

304.37

24.3

31.5

Other property level (1)

0.3

0.2

0.2

Domestic

69

39,475

330.33

72.2%

238.66

2,898.9

405.47

595.1

918.8

International

5

1,499

186.40

65.7%

122.54

46.5

171.41

10.5

13.9

All Locations - comparable hotels

74

40,974

$325.53

72.0%

$234.41

$2,945.4

$396.95

$605.6

$932.7

Non-comparable hotels

1

348

18.5

11.9

18.2

Property transaction adjustments (2)

216.0

58.4

Gain on sale of property and corporate

level income/expense (3)

(141.2)

(1.4)

Total

75

41,322

$—

$—

$3,179.9

$—

$476.3

$1,007.9

(1)Other property level includes certain ancillary revenues and related expenses, as well as non-income taxes on TRS leases.

(2)Property transaction adjustments represent the following items: (i) the elimination of results of operations of our hotels sold or held-for-sale as of the reporting date, which operations are included in our unaudited condensed consolidated statements of operations

as continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date.

(3)Certain items from our statement of operations are not allocated to individual properties, including interest on our senior notes, corporate and other expenses, and the provision for income taxes. These items are reflected in “gain on sale of property and corporate

level income/expense.” Refer to the table below for reconciliation of net income to EBITDA by location.

© Host Hotels & Resorts, Inc.15

Comparable Hotel Results by Location

(unaudited, in millions, except hotel statistics and per room basis)

Year-to-date ended June 30, 2025

Location

No. of

Properties

No. of

Rooms

Hotel Net Income

(Loss)

Plus:

Depreciation

Plus: Interest

Expense

Plus: Income Tax

Plus: Property

Transaction

Adjustments

Equals: Hotel

EBITDA

Miami

2

1,038

$43.0

$17.1

$—

$—

$—

$60.1

Maui

3

1,580

30.6

32.3

62.9

Jacksonville

1

446

23.4

6.3

29.7

Florida Gulf Coast

4

1,529

59.0

39.6

98.6

Oahu

2

876

10.9

12.3

23.2

Phoenix

3

1,565

69.3

21.6

90.9

New York

3

2,720

30.2

25.0

55.2

Nashville

2

721

9.7

12.1

21.8

Los Angeles/Orange County

3

1,067

8.9

5.6

14.5

San Diego

3

3,294

60.4

31.0

91.4

Washington, D.C. (CBD)

4

2,788

44.5

22.7

(8.8)

58.4

San Francisco/San Jose

6

4,162

15.0

28.2

43.2

Boston

2

1,496

15.7

8.9

24.6

Northern Virginia

2

916

9.3

5.2

14.5

Philadelphia

2

810

8.4

4.9

13.3

Orlando

1

2,004

67.0

27.6

(32.8)

61.8

Austin

2

769

5.7

7.1

2.0

14.8

Chicago

3

1,562

3.6

8.1

11.7

Houston

4

1,710

14.6

10.5

(2.5)

22.6

Atlanta

2

810

5.0

6.9

11.9

San Antonio

2

1,512

13.7

7.3

21.0

Seattle

2

1,315

(0.7)

6.2

5.5

New Orleans

1

1,333

16.6

4.8

21.4

Denver

3

1,342

6.8

7.3

14.1

Other

7

2,110

24.3

21.5

(14.3)

31.5

Other property level (1)

0.2

0.2

Domestic

69

39,475

595.1

380.1

2.0

(58.4)

918.8

International

5

1,499

10.5

3.4

13.9

All Locations - comparable hotels

74

40,974

$605.6

$383.5

$2.0

$—

$(58.4)

$932.7

Non-comparable hotels

1

348

11.9

6.3

18.2

Property transaction adjustments (2)

58.4

58.4

Gain on sale of property and corporate

level income/expense (3)

(141.2)

0.8

113.2

25.8

(1.4)

Total

75

41,322

$476.3

$390.6

$115.2

$25.8

$—

$1,007.9

(1)Other property level includes certain ancillary revenues and related expenses, as well as non-income taxes on TRS leases.

(2)Property transaction adjustments represent the following items: (i) the elimination of results of operations of our hotels sold or held-for-sale as of the reporting date, which operations are included in our unaudited condensed consolidated statements of operations

as continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date.

(3)Certain items from our statement of operations are not allocated to individual properties, including interest on our senior notes, corporate and other expenses, and the provision for income taxes. These items are reflected in “gain on sale of property and corporate

level income/expense.”

© Host Hotels & Resorts, Inc.16

Historical Comparable Hotel Results with 2026 Comparable Hotel Set

(unaudited, in millions, except hotel statistics)

Historical Comparable Hotel Metrics (1)

a

2026 Comparable Hotel Set (3)

Three Months Ended

Year Ended

March 31, 2025

June 30, 2025

September 30, 2025

December 31, 2025

December 31, 2025

Number of hotels

74

74

74

74

74

Number of rooms

40,974

40,974

40,974

40,974

40,974

Comparable hotel RevPAR

$233.77

$235.05

$204.18

$220.73

$223.34

Comparable hotel occupancy

69.9%

74.1%

69.9%

67.0%

70.2%

Comparable hotel ADR

$334.24

$317.39

$292.11

$329.67

$318.14

Historical Comparable Hotel Revenues (1)(2)

2026 Comparable Hotel Set (3)

Three Months Ended

Year Ended

March 31, 2025

June 30, 2025

September 30, 2025

December 31, 2025

December 31, 2025

Total revenues

$1,594

$1,586

$1,331

$1,603

$6,114

Less: Revenues from asset

disposition

(117)

(99)

(79)

(93)

(388)

Less: Revenues from non-

comparable hotels

(3)

(16)

(14)

(17)

(50)

Less: Revenues from condominium

sales

(99)

(99)

Comparable hotel revenues

$1,474

$1,471

$1,238

$1,394

$5,577

© Host Hotels & Resorts, Inc.17

Historical Comparable Hotel Results with 2026 Comparable Hotel Set (cont.)

(unaudited, in millions, except hotel statistics)

Historical Comparable Hotel EBITDA (1)(2)

2026 Comparable Hotel Set (3)

Three Months Ended

Year Ended

March 31, 2025

June 30, 2025

September 30, 2025

December 31, 2025

December 31, 2025

Net income

$251

$225

$163

$137

$776

Depreciation and amortization

196

195

196

208

795

Interest expense

57

58

60

60

235

Provision (benefit) for income taxes

(1)

27

9

7

42

Gain on sale of property and corporate

level income/expense

9

(8)

(104)

29

(74)

Property transaction adjustments

(34)

(24)

(13)

(27)

(98)

Non-comparable hotel results, net

(6)

(13)

(9)

(5)

(33)

Condominium sales

1

1

(19)

(17)

Comparable hotel EBITDA

$472

$461

$303

$390

$1,626

(1)Comparable hotel results represent adjustments for the following items: (i) to remove the results of operations of our hotels assumed to be sold or held-for-sale as of December 31, 2026, which

operations are included in our condensed consolidated statements of operations as continuing operations, (ii) to include the results for periods prior to our ownership for hotels acquired as of

June 30, 2026 and (iii) to remove the results of our non-comparable hotels.

(2)Comparable hotel revenues and comparable hotel EBITDA are non-GAAP financial measures within the meaning of the rules of the Securities and Exchange commission. See the Notes to

Supplemental Financial Information for discussion of these non-GAAP measures.

(3)Comparable hotel results include 74 hotels (of our 75 hotels owned at June 30, 2026) based on our forecast comparable hotel set as of December 31, 2026. No assurances can be made as to the

hotels that will be in the comparable hotel set for 2026. The following property is expected to be non-comparable for full year 2026:

•The Don CeSar (business disruption due to Hurricane Helene resulting in closure of the hotel beginning at the end of September 2024, reopened in March 2025).

Additionally, revenues and costs, including marketing and administrative expenses, related to the development and sale of condominium units adjacent to the Four Seasons Resort Orlando at

Walt Disney World® Resort are excluded from our comparable hotel results.

© Host Hotels & Resorts, Inc.18

Comparable Hotel Results 2026 Forecast and Full Year 2025

(unaudited, in millions, except hotel statistics)

2026 Comparable Hotel Set

2026 Forecast(1)

2025

Number of hotels

74

74

Number of rooms

40,974

40,974

Comparable hotel Total RevPAR

$391.30

$372.75

Comparable hotel RevPAR

$234.48

$223.34

Operating profit margin(5)

15.0%

14.0%

Comparable hotel EBITDA margin(5)

29.7%

29.2%

Food and beverage profit margin(5)

33.7%

32.1%

Comparable hotel food and beverage profit margin(5)

33.7%

32.7%

Net income

$953

$776

Depreciation and amortization

757

795

Interest expense

241

235

Provision for income taxes

53

42

Gain on sale of property and corporate level income/expense

(199)

(74)

Property transaction adjustments⁽²⁾

(11)

(98)

Non-comparable hotel results, net⁽³⁾

(36)

(33)

Condominium sales ⁽⁴⁾

(18)

(17)

Comparable hotel EBITDA

$1,740

$1,626

(1)See "Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre and Diluted Earnings per Common Share to NAREIT and Adjusted Funds From Operations per Diluted Share for Full Year 2026

Forecasts" for other forecast assumptions. Forecast presented assumes the midpoint of our comparable hotel RevPAR guidance of 5.0% growth over 2025. Forecast comparable hotel results include 74

hotels (of our 75 hotels owned at June 30, 2026) that we have assumed will be classified as comparable as of December 31, 2026. See “Comparable Hotel Operating Statistics and Results” in the Notes to

Supplemental Financial Information. No assurances can be made as to the hotels that will be in the comparable hotel set for 2026.

(2)Property transaction adjustments represent the following items: (i) the elimination of results of operations of our hotels sold or held-for-sale as of the reporting date, which operations are included in our

unaudited condensed consolidated statements of operations as continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date. Forecast

data also eliminates results of hotels assumed to be sold during the year.

(3)Non-comparable hotel results, net, includes the following items: (i) the results of operations of our non-comparable hotels, which operations are included in our consolidated statements of operations as

continuing operations, and (ii) gains on business interruption proceeds covering lost revenues while the property was considered non-comparable.  The following property is expected to be non-comparable

for full year 2026:

•The Don CeSar (business disruption due to Hurricane Helene resulting in closure of the hotel beginning at the end of September 2024, reopened in March 2025).

(4)Includes revenues and costs, including marketing and administrative expenses of approximately $6 million million and $2 million for the 2026 forecast and 2025, respectively, related to the development and

sale of condominium units adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort.

(5)Profit margins are calculated by dividing the applicable operating profit by the related revenue amount. GAAP profit margins are calculated using amounts presented in the unaudited condensed

consolidated statements of operations. Comparable hotel margins are calculated using amounts presented in the following tables, which include reconciliations to the applicable GAAP results:

© Host Hotels & Resorts, Inc.19

Comparable Hotel Results 2026 Forecast and Full Year 2025 (cont.)

(unaudited, in millions)

Forecast Year ended December 31, 2026

Year ended December 31, 2025

Adjustments

Adjustments

GAAP

Results

Property

Transaction

Adjustment

Non-comparable

hotel results, net

Condominium

sales

Depreciation

and corporate

level items

Comparable

hotel Results

GAAP

Results

Property

transaction

adjustments

Non-comparable

hotel results, net

Condominium

sales

Depreciation

and corporate

level items

Comparable

hotel Results

Revenues

Room

$3,583

$(32)

$(40)

$—

$—

$3,511

$3,608

$(241)

$(25)

$—

$—

$3,342

Food and beverage

1,830

(16)

(29)

1,785

1,803

(101)

(16)

1,686

Other

725

(7)

(14)

(141)

563

703

(46)

(9)

(99)

549

Total revenues

6,138

(55)

(83)

(141)

5,859

6,114

(388)

(50)

(99)

5,577

Expenses

Room

898

(7)

(8)

883

906

(52)

(6)

848

Food and beverage

1,214

(12)

(18)

1,184

1,224

(78)

(11)

1,135

Other

2,111

(25)

(28)

(6)

2,052

2,154

(160)

(24)

(2)

1,968

Depreciation and

amortization

757

(757)

795

(795)

Cost of goods sold

117

(117)

80

(80)

Corporate and other

expenses

126

(126)

124

(124)

Net gain on insurance

settlements

(7)

7

(24)

24

Total expenses

5,216

(44)

(47)

(123)

(883)

4,119

5,259

(290)

(17)

(82)

(919)

3,951

Operating Profit -

Comparable hotel

EBITDA

$922

$(11)

$(36)

$(18)

$883

$1,740

$855

$(98)

$(33)

$(17)

$919

$1,626

Comparable hotel results includes the results of our properties in Maui. The following table reconciles net income to Hotel EBITDA based on the expected 2026 results of these properties

(in millions); any changes to net income would be equal to the change in Hotel EBITDA:

Location

No. of Properties

Net Income (loss)

Plus: Depreciation

Equals: Hotel EBITDA

Maui

3

$54

$66

$120

Forecast non-comparable hotel results, net includes the results of The Don CeSar. The following table reconciles net income to Hotel EBITDA based on the expected 2026 results of the

property, excluding business interruption proceeds (in millions); any changes to net income would be equal to the change in Hotel EBITDA:

Hotel

Net Income (loss)

Plus: Depreciation

Equals: Hotel EBITDA

The Don CeSar

$11

$18

$29

© Host Hotels & Resorts, Inc.20

Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre and

Diluted Earnings per Common Share to NAREIT and Adjusted Funds From

Operations per Diluted Share for Full Year 2026 Forecasts(1)

(unaudited in millions, except per share amounts)

Full Year 2026

Mid-point

Net income

$953

Interest expense

241

Depreciation and amortization

753

Income taxes

53

EBITDA

2,000

Gain on dispositions

(241)

Non-cash impairment expense

4

Equity investment adjustments:

Equity in earnings of affiliates

(20)

Pro rata EBITDAre of equity investments

61

EBITDAre

1,804

Adjustments to EBITDAre:

Non-cash stock-based compensation expense

26

Adjusted EBITDAre

$1,830

Full Year 2026

Mid-point

Net income

$953

Less: Net income attributable to non-controlling interests

(14)

Net income attributable to Host Inc.

939

Adjustments:

Gain on dispositions

(241)

Tax on dispositions

5

Depreciation and amortization

752

Non-cash impairment expense

4

Equity investment adjustments:

Equity in earnings of affiliates

(20)

Pro rata FFO of equity investments

32

Consolidated partnership adjustments:

FFO adjustment for non-controlling partnerships

(1)

FFO adjustment for non-controlling interests of Host LP

(7)

NAREIT FFO

1,463

Adjustments to NAREIT FFO:

Non-cash stock-based compensation expense

26

Adjusted FFO

$1,489

Diluted weighted average shares outstanding - EPS, NAREIT FFO and Adjusted FFO

688.6

Diluted earnings per common share

$1.36

NAREIT FFO per diluted share

$2.12

Adjusted FFO per diluted share

$2.16

See assumptions that follow.

© Host Hotels & Resorts, Inc.21

Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre and

Diluted Earnings per Common Share to NAREIT and Adjusted Funds From

Operations per Diluted Share for Full Year 2026 Forecasts (cont.)

(unaudited, in millions, except per share amounts)

(1)The Forecasts are based on the below assumptions:

•Comparable hotel RevPAR will increase at the midpoint of our guidance of 5.0% compared to 2025. This forecast assumes a continued recovery at our Maui

properties from the 2023 wildfires, however the timing of Maui's full recovery remains uncertain.

•Comparable hotel EBITDA margins will increase 50 basis points compared to 2025.

•We expect to spend approximately $550 million to $630 million on capital expenditures.

•Assumes no additional dispositions and no acquisitions during the year.

•This forecast makes no assumptions on the use of the remaining proceeds from the February 2026 Four Seasons sale following the second quarter special dividend

and first quarter stock repurchases. We will weigh potential cash uses which may include, subject to market conditions, acquisitions, other investments in our

portfolio, continued common stock repurchases or increased dividends, which dividends could be in excess of taxable income. Any additional special dividend will

be subject to approval by Host Inc.’s Board of Directors.

•Assumes an approximate $16 million to $20 million contribution to net income and Adjusted EBITDAre from the sale of condominium units.

•Includes $7 million of gain from business interruption proceeds related to hurricane claims already received in 2026, but assumes no further business interruption

proceeds during the year.

For a discussion of items that may affect forecast results, see the Notes to Supplemental Financial Information.

© Host Hotels & Resorts, Inc.22

Ground Lease Summary as of December 31, 2025

As of December 31, 2025

No. of rooms

Lessor Institution

Type

Minimum rent

Current expiration

Expiration after all

potential options (1)

1

Boston Marriott Copley Place

1,145

Public

N/A⁽²⁾

12/31/2123

12/31/2123

2

Coronado Island Marriott Resort & Spa

300

Public

1,565,770

10/31/2062

10/31/2078

3

Denver Marriott West

305

Private

160,000

12/28/2028

12/28/2058

4

Houston Airport Marriott at George Bush Intercontinental

573

Public

1,560,000

10/31/2053

10/31/2053

5

Houston Marriott Medical Center/Museum District

398

Non-Profit

160,000

12/28/2029

12/28/2059

6

Manchester Grand Hyatt San Diego

1,628

Public

6,600,000

5/31/2067

5/31/2083

7

Marina del Rey Marriott

370

Public

2,082,082

3/31/2043

3/31/2043

8

Marriott Downtown at CF Toronto Eaton Centre

461

Non-Profit

364,300

9/20/2082

9/20/2082

9

Marriott Marquis San Diego Marina

1,366

Public

7,650,541

11/30/2061

11/30/2083

10

Newark Liberty International Airport Marriott

591

Public

2,676,119

12/31/2055

12/31/2055

11

Philadelphia Airport Marriott

419

Public

1,509,994

6/29/2045

6/29/2045

12

San Antonio Marriott Rivercenter

1,000

Private

700,000

12/31/2033

12/31/2063

13

San Francisco Marriott Marquis

1,500

Public

1,500,000

8/25/2046

8/25/2076

14

Santa Clara Marriott

766

Private

100,025

11/30/2028

11/30/2058

15

Tampa Airport Marriott

298

Public

1,545,291

12/31/2043

12/31/2043

16

The Ritz-Carlton, Marina del Rey

304

Public

2,078,916

7/29/2067

7/29/2067

17

The Ritz-Carlton, Tysons Corner

398

Private

1,043,459

6/30/2112

6/30/2112

18

The Westin South Coast Plaza, Costa Mesa

393

Private

625,000

9/30/2059

9/30/2059

Weighted average remaining lease term (assuming all extension options)

47 years

Percentage of leases (based on room count) with Public/Private/Non-Profit lessors

70% / 23% / 7%

(1)Exercise of Host’s option to extend is subject to certain conditions, including the existence of no defaults and subject to any applicable rent escalation or rent re-negotiation provisions.

(2)The lease was amended in 2024 resulting in extension of the term and an upfront payment for the extension. No further rental payments are required for the remainder of the lease term.

OVERVIEW

PROPERTY LEVEL DATA AND

CORPORATE MEASURES

CAPITALIZATION

FINANCIAL COVENANTS

NOTES TO SUPPLEMENTAL

FINANCIAL INFORMATION

SAN FRANCISCO MARRIOTT MARQUIS

© Host Hotels & Resorts, Inc.24

Comparative Capitalization

(in millions, except security pricing and per share amounts)

As of

As of

As of

As of

As of

June 30,

March 31,

December 31,

September 30,

June 30,

Shares/Units

2026

2026

2025

2025

2025

Common shares outstanding

685.0

684.9

687.8

687.7

687.5

Common shares outstanding assuming

conversion of OP Units (1)

694.5

694.4

697.4

696.4

696.4

Preferred OP Units outstanding

0.01

0.01

0.01

0.01

0.01

Security pricing

Common stock at end of quarter (2)

$23.71

$19.16

$17.73

$17.02

$15.36

High during quarter

25.13

20.40

18.64

17.68

16.07

Low during quarter

19.09

17.79

15.82

15.27

12.70

Capitalization

Market value of common equity (3)

$16,467

$13,305

$12,365

$11,853

$10,697

Consolidated debt

5,082

5,079

5,077

5,079

5,077

Less: Cash

(1,953)

(1,703)

(768)

(539)

(490)

Consolidated total capitalization

19,596

16,681

16,674

16,393

15,284

Plus: Share of debt in unconsolidated

investments

446

379

329

312

284

Pro rata total capitalization

$20,042

$17,060

17,003

16,705

15,568

Quarter ended

Quarter ended

Quarter ended

Quarter ended

Quarter ended

June 30,

March 31,

December 31,

September 30,

June 30,

2026

2026

2025

2025

2025

Dividends declared per common share

$0.92

$0.20

$0.35

$0.20

$0.20

(1)Each OP Unit is redeemable for cash or, at our option, for 1.021494 common shares of Host Inc. At June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, there

were 9.4 million, 9.4 million, 9.4 million, 8.6 million, and 8.7 million in common OP Units, respectively, held by non-controlling interests.

(2)Share prices are the closing price as reported by the NASDAQ.

(3)Market value of common equity is calculated as the number of common shares outstanding including assumption of conversion of OP units multiplied the closing share price on that day.

© Host Hotels & Resorts, Inc.25

Consolidated Debt Summary

(in millions)

Debt

Senior debt

Rate

Maturity date

June 30, 2026

December 31, 2025

Series H

3 ⅜%

12/2029

646

645

Series I

3 ½%

9/2030

742

741

Series J

2.9%

12/2031

444

443

Series K

5.7%

7/2034

586

586

Series L

5.5%

4/2035

685

685

Series M

5.7%

6/2032

491

491

Series N

4.25%

12/2028

396

395

2027 Credit facility term loan

4.5%

1/2027

500

500

2028 Credit facility term loan

4.5%

1/2028

499

499

Credit facility revolver(1)

—%

1/2027

(1)

(3)

4,988

4,982

Mortgage and other debt

Mortgage and other debt

4.67%

11/2027

94

95

Total debt(2)(3)

$5,082

$5,077

Percentage of fixed rate debt

80%

80%

Weighted average interest rate

4.8%

4.8%

Weighted average debt maturity

4.7years

5.1years

Credit Facility

Total capacity

$1,500

Available capacity

1,500

Consolidated assets encumbered by mortgage debt

1

(1)There are no outstanding credit facility revolver borrowings at June 30, 2026 and December 31, 2025. Amount shown represents deferred financing costs related to the credit facility revolver.

(2)In accordance with GAAP, total debt includes the debt of entities that we consolidate, but of which we do not own 100%, and excludes the debt of entities that we do not consolidate, but of

which we have a non-controlling ownership interest and record our investment therein under the equity method of accounting. As of June 30, 2026, our share of debt in unconsolidated

investments is $446 million and none of our debt is attributable to non-controlling interests.

(3)Total debt as of June 30, 2026 and December 31, 2025, includes net discounts and deferred financing costs of $61 million and $67 million, respectively.

© Host Hotels & Resorts, Inc.26

Consolidated Debt Maturity as of June 30, 2026

(in millions)

(1)The first term loan that is due in 2027 has an extension option that would extend maturity of the instrument to 2028, subject to meeting certain conditions, including payment of a fee. The

second term loan tranche that is due in 2028 does not have an extension option.

(2)Mortgage and other debt excludes principal amortization of $2 million each year from 2026-2027 for the mortgage loan that matures in 2027.

OVERVIEW

PROPERTY LEVEL DATA AND

CORPORATE MEASURES

CAPITALIZATION

FINANCIAL COVENANTS

NOTES TO SUPPLEMENTAL

FINANCIAL INFORMATION

1 HOTEL SOUTH BEACH

© Host Hotels & Resorts, Inc.28

Financial Covenants: Credit Facility and Senior Notes Financial Performance Tests

(unaudited, in millions, except ratios)

On January 4, 2023, we amended our Credit Facility agreement. The covenant requirements are consistent with previous amendment covenant levels:

Leverage Ratio

Maximum 7.25x

Fixed Charge Coverage Ratio

Minimum 1.25x

Unsecured Interest Coverage Ratio

Minimum 1.75x (1)

Covenant ratios are calculated using Host’s credit facility and senior notes definitions. See the subsequent pages for a reconciliation of the equivalent GAAP

measure. The GAAP ratio is not relevant for the purpose of the financial covenants.

The following tables present the financial performance tests for our credit facility and senior notes as of:

June 30, 2026

Credit Facility Financial Performance Tests

Permitted

GAAP Ratio

Covenant Ratio

Leverage Ratio

Maximum 7.25x

4.9x

1.9x

Unsecured Interest Coverage Ratio

Minimum 1.75x(1)

4.4x

7.4x

Consolidated Fixed Charge Coverage Ratio

Minimum 1.25x

4.4x

5.7x

June 30, 2026

Bond Compliance Financial Performance Tests

Permitted

GAAP Ratio

Covenant Ratio

Indebtedness Test

Maximum 65%

38%

22%

Secured Indebtedness Test

Maximum 40%

<1%

<1%

EBITDA-to-interest Coverage ratio (2)

Minimum 1.5x

4.4x

7.3x

Ratio of Unencumbered Assets to Unsecured Indebtedness

Minimum 150%

261%

455%

(1)If the leverage ratio is greater than 7.0x, then the unsecured interest coverage ratio minimum will decrease to 1.50x.

(2)The GAAP ratio is based on net income, while the covenant ratio is based on EBITDA. See subsequent pages for a reconciliation of net income to EBITDA.

© Host Hotels & Resorts, Inc.29

Financial Covenants: Reconciliation of GAAP Leverage Ratio to Credit Facility Leverage Ratio

(unaudited, in millions, except ratios)

The following tables present the calculation of our leverage ratio using GAAP measures and as used in the financial covenants of the credit facility. In addition, for this

quarter, we are also presenting our leverage ratio as adjusted for estimated payment of the common stock dividend declared in the second quarter of 2026, including

a special dividend, that is not part of the typical adjustments required under our credit facility definition (“Leverage Ratio per Credit Facility, as Adjusted”):

GAAP Leverage Ratio

Trailing Twelve Months

June 30, 2026

Debt

$5,082

Net income

1,042

GAAP Leverage Ratio

4.9x

Leverage Ratio per

Credit Facility

Leverage Ratio per Credit

Facility, as Adjusted

Trailing Twelve Months

As Adjusted

June 30, 2026

June 30, 2026

Net debt (1)

$3,230

$3,860

Adjusted Credit Facility EBITDA (2)

1,743

1,743

Leverage Ratio

1.9x

2.2x

(1)The following presents the reconciliation of debt to net debt per our credit facility definition, and as adjusted:

June 30, 2026

Debt

$5,082

Less: Unrestricted cash over $100 million

(1,852)

Net debt per credit facility definition

$3,230

Plus: Subsequent cash dividend payments

630

Net debt per credit facility definition, as adjusted

$3,860

(2)The following presents the reconciliation of net income to EBITDA, EBITDAre, Adjusted EBITDAre, and Adjusted EBITDA per our credit facility definition in

determining leverage ratio:

Trailing Twelve Months

June 30, 2026

Net income

$1,042

Interest expense

237

Depreciation and amortization

775

Income taxes

51

EBITDA

2,105

Gain on dispositions

(363)

Non-cash impairment expense

12

Equity in earnings of affiliates

(15)

Pro rata EBITDAre of equity investments

49

EBITDAre

1,788

Non-cash stock-based compensation expense

27

Adjusted EBITDAre

1,815

Pro forma EBITDA - Dispositions

(50)

Non-cash partnership adjustments

(22)

Adjusted Credit Facility EBITDA

$1,743

© Host Hotels & Resorts, Inc.30

Financial Covenants: Reconciliation of GAAP Interest Coverage Ratio to Credit

Facility Unsecured Interest Coverage Ratio

(unaudited, in millions, except ratios)

The following tables present the calculation of our unsecured interest coverage ratio using GAAP measures and as used in the financial covenants of the credit facility:

Unsecured Interest

Coverage per Credit

Facility Ratio

Trailing Twelve Months

June 30, 2026

Unencumbered consolidated EBITDA per credit facility

definition (1)

$1,735

Adjusted Credit Facility unsecured interest expense (2)

236

Unsecured Interest Coverage Ratio

7.4x

GAAP Interest Coverage

Ratio

Trailing Twelve Months

June 30, 2026

Net income

$1,042

Interest expense

237

GAAP Interest Coverage Ratio

4.4x

`

(1)The following reconciles Adjusted Credit Facility EBITDA to Unencumbered Consolidated EBITDA per our credit facility definition. See Reconciliation of GAAP

Leverage Ratio to Credit Facility Leverage Ratio for calculation and reconciliation of net income to Adjusted Credit Facility EBITDA:

Trailing Twelve Months

June 30, 2026

Adjusted Credit Facility EBITDA

$1,743

Less: Encumbered EBITDA

(7)

Corporate overhead allocated to encumbered assets

(1)

Unencumbered Consolidated EBITDA per credit facility definition

$1,735

(2)The following reconciles GAAP interest expense to unsecured interest expense per our credit facility definition:

Trailing Twelve Months

June 30, 2026

GAAP Interest expense

$237

Interest on secured debt

(4)

Deferred financing cost amortization

(7)

Capitalized interest

12

Pro forma interest adjustments

(2)

Adjusted Credit Facility Unsecured Interest Expense

$236

© Host Hotels & Resorts, Inc.31

Financial Covenants: Reconciliation of GAAP Interest Coverage Ratio to Credit

Facility Fixed Charge Coverage Ratio

(unaudited, in millions, except ratios)

The following tables present the calculation of our GAAP Interest coverage ratio and our fixed charge coverage ratio as used in the financial covenants of the

credit facility:

GAAP Fixed Charge

Coverage Ratio

Trailing Twelve Months

June 30, 2026

Net income

$1,042

Interest expense

237

GAAP Fixed Charge Coverage Ratio

4.4x

Credit Facility Fixed

Charge Coverage Ratio

Trailing Twelve Months

June 30, 2026

Credit Facility Fixed Charge Coverage Ratio EBITDA (1)

$1,453

Fixed charges (2)

256

Credit Facility Fixed Charge Coverage Ratio

5.7x

(1)The following reconciles Adjusted Credit Facility EBITDA to Credit Facility Fixed Charge Coverage Ratio EBITDA. See Reconciliation of GAAP Leverage Ratio to

Credit Facility Leverage Ratio for calculation and reconciliation of Adjusted Credit Facility EBITDA:

Trailing Twelve Months

June 30, 2026

Adjusted Credit Facility EBITDA

$1,743

Less:  5% of hotel property gross revenue

(289)

Less:  3% of revenues from other real estate

(1)

Credit Facility Fixed Charge Coverage Ratio EBITDA

$1,453

(2)The following table calculates the fixed charges per our credit facility definition. See Reconciliation of GAAP Interest Coverage Ratio to Credit Facility

Unsecured Interest Coverage Ratio for reconciliation of GAAP interest expense to adjusted unsecured interest expense per our credit facility definition:

Trailing Twelve Months

June 30, 2026

Adjusted Credit Facility Unsecured Interest Expense

$236

Interest on secured debt

4

Adjusted Credit Facility Interest Expense

240

Scheduled principal payments

2

Cash taxes on ordinary income

14

Fixed Charges

$256

© Host Hotels & Resorts, Inc.32

Financial Covenants: Reconciliation of GAAP Indebtedness Test to Senior Notes

Indenture Indebtedness Test

(unaudited, in millions, except ratios)

The following tables present the calculation of our total indebtedness to total assets using GAAP measures and as used in the financial covenants of our senior

notes indenture:

GAAP Total Indebtedness to Total Assets

June 30, 2026

Debt

$5,082

Total assets

13,253

GAAP Total Indebtedness to Total Assets

38%

Total Indebtedness to Total Assets per Senior Notes Indenture

June 30, 2026

Adjusted indebtedness (1)

$5,109

Adjusted total assets (2)

23,366

Total Indebtedness to Total Assets

22%

(1)The following  reconciles our GAAP total indebtedness to our total indebtedness per our senior notes indenture:

June 30, 2026

Debt

$5,082

Add: Deferred financing costs

28

Less: Mark-to-market on assumed mortgage

(1)

Adjusted Indebtedness per Senior Notes Indenture

$5,109

(2)The following presents the reconciliation of total assets to adjusted total assets per the financial covenants of our senior notes indenture definition:

June 30, 2026

Total assets

$13,253

Add: Accumulated depreciation

10,667

Add: Inventory impairment at unconsolidated investment

11

Less: Intangibles

(5)

Less: Right-of-use assets

(560)

Adjusted Total Assets per Senior Notes Indenture

$23,366

© Host Hotels & Resorts, Inc.33

Financial Covenants: Reconciliation of GAAP Secured Indebtedness Test to

Senior Notes Indenture Secured Indebtedness Test

(unaudited, in millions, except ratios)

The following table presents the calculation of our secured indebtedness using GAAP measures and as used in the financial covenants of our senior notes

indenture:

GAAP Secured Indebtedness

June 30, 2026

Mortgage and other secured debt

$94

Total assets

13,253

GAAP Secured Indebtedness to Total Assets

<1%

Secured Indebtedness per Senior Notes Indenture

June 30, 2026

Secured indebtedness (1)

$93

Adjusted total assets (2)

23,366

Secured Indebtedness to Total Assets

<1%

(1)The following presents the reconciliation of mortgage debt to secured indebtedness per the financial covenants of our senior notes indenture definition:

June 30, 2026

Mortgage and other secured debt

$94

Less: Mark-to-market on assumed mortgage

(1)

Secured Indebtedness

$93

(2)See Reconciliation of GAAP Indebtedness Test to Senior Notes Indenture Indebtedness Test for reconciliation of GAAP Total Assets to Adjusted Total Assets per

our senior notes indenture.

© Host Hotels & Resorts, Inc.34

Financial Covenants: Reconciliation of GAAP Interest Coverage Ratio to Senior

Notes Indenture EBITDA-to-Interest Coverage Ratio

(unaudited, in millions, except ratios)

The following tables present the calculation of our interest coverage ratio using our GAAP measures and as used in the financial covenants of the senior notes

indenture:

GAAP Interest Coverage Ratio

Trailing Twelve Months

June 30, 2026

Net income

$1,042

Interest expense

237

GAAP Interest Coverage Ratio

4.4x

EBITDA to Interest Coverage Ratio

Trailing Twelve Months

June 30, 2026

Adjusted Credit Facility EBITDA (1)

$1,743

Non-controlling interest adjustment

2

Adjusted Senior Notes EBITDA

1,745

Adjusted Credit Facility Interest Expense (2) and Adjusted Senior Notes Interest Expense

240

EBITDA to Interest Coverage Ratio

7.3x

(1)See Reconciliation of GAAP Leverage Ratio to Credit Facility Leverage Ratio for the calculation of Adjusted Credit Facility EBITDA and reconciliation to net

income.

(2)See Reconciliation of GAAP Interest Coverage Ratio to Credit Facility Fixed Charge Coverage Ratio for the calculation of Adjusted Credit Facility interest

expense and reconciliation to GAAP interest expense.

© Host Hotels & Resorts, Inc.35

Financial Covenants: Reconciliation of GAAP Assets to Indebtedness Test to

Senior Notes Unencumbered Assets to Unsecured Indebtedness Test

(unaudited, in millions, except ratios)

The following tables present the calculation of our total assets to total debt using GAAP measures and unencumbered assets to unsecured debt as used in the

financial covenants of our senior notes indenture:

GAAP Assets / Debt

June 30, 2026

Total assets

$13,253

Total debt

5,082

GAAP Total Assets / Total Debt

261%

Unencumbered Assets / Unsecured Debt per Senior Notes

Indenture

June 30, 2026

Unencumbered Assets (1)

$22,798

Unsecured Debt (2)

5,016

Unencumbered Assets / Unsecured Debt

455%

(1)The following presents the reconciliation of adjusted total assets to unencumbered assets per the financial covenants of our senior notes indenture definition:

June 30, 2026

Adjusted total assets (a)

$23,366

Less: Partnership adjustments

(299)

Less: Inventory impairment at unconsolidated investment

(11)

Less: Encumbered Assets

(258)

Unencumbered Assets

$22,798

(a)See reconciliation of GAAP Indebtedness Test to Senior Notes Indenture Indebtedness Test for reconciliation of GAAP Total Assets to Adjusted Total Assets per

our senior notes indenture.

(2)The following presents the reconciliation of total debt to unsecured debt per the financial covenants of our senior notes indenture definition:

June 30, 2026

Adjusted indebtedness (b)

$5,109

Less: Secured indebtedness (c)

(93)

Unsecured Debt

$5,016

(b)See reconciliation of GAAP Indebtedness Test to Senior Notes Indenture Indebtedness Test for reconciliation of GAAP Total Debt to Adjusted Indebtedness per

our senior notes indenture.

(c)See reconciliation of GAAP Secured Indebtedness Test to Senior Notes Indenture Secured Indebtedness Test for the reconciliation of mortgage and other

secured debt to senior notes secured indebtedness.

OVERVIEW

PROPERTY LEVEL DATA AND

CORPORATE MEASURES

CAPITALIZATION

FINANCIAL COVENANTS

NOTES TO SUPPLEMENTAL

FINANCIAL INFORMATION

GRAND HYATT WASHINGTON

© Host Hotels & Resorts, Inc.37

NOTES TO SUPPLEMENTAL FINANCIAL INFORMATION

FORECASTS

Our forecast of net income, earnings per diluted share, NAREIT and Adjusted FFO per diluted share, EBITDA, EBITDAre, Adjusted EBITDAre and comparable hotel

results are forward-looking statements and are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors

which may cause actual results and performance to differ materially from those expressed or implied by these forecasts. Although we believe the expectations

reflected in the forecasts are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that the results will not be

materially different. Risks that may affect these assumptions and forecasts include the following: potential changes in overall economic outlook make it

inherently difficult to forecast the level of RevPAR, earnings and profitability; the amount and timing of debt payments may change significantly based on market

conditions, which will directly affect the level of interest expense and net income; the amount and timing of transactions involving shares of our common stock

may change based on market conditions; and other risks and uncertainties associated with our business described herein and in our annual report on Form 10-K,

quarterly reports on Form 10-Q and current reports on Form 8-K filed with the SEC.

COMPARABLE HOTEL OPERATING STATISTICS AND RESULTS

To facilitate a year-to-year comparison of our operations, we present certain operating statistics (i.e., Total RevPAR, RevPAR, average daily rate and average

occupancy) and operating results (revenues, expenses, hotel EBITDA and associated margins) for the periods included in our reports on a comparable hotel basis

in order to enable our investors to better evaluate our operating performance. We define our comparable hotels as those that: (i) are owned or leased by us as of

the reporting date and are not classified as held-for-sale; and (ii) have not sustained substantial property damage or business interruption, or undergone large-

scale capital projects, in each case requiring closures lasting one month or longer (as further defined below), during the reporting periods being compared.

We make adjustments to include recent acquisitions to include results for periods prior to our ownership. For these hotels, since the year-over-year comparison

includes periods prior to our ownership, the changes will not necessarily correspond to changes in our actual results. Additionally, operating results of hotels that

we sell are excluded from the comparable hotel set once the transaction has closed or the hotel is classified as held-for-sale.

The hotel business is capital-intensive and renovations are a regular part of the business. Generally, hotels under renovation remain comparable hotels. A large-

scale capital project would cause a hotel to be excluded from our comparable hotel set if it requires the entire property to be closed to hotel guests for one

month or longer.

© Host Hotels & Resorts, Inc.38

NOTES TO SUPPLEMENTAL FINANCIAL INFORMATION

COMPARABLE HOTEL OPERATING STATISTICS AND RESULTS (continued)

Similarly, hotels are excluded from our comparable hotel set from the date that they sustain substantial property damage or business interruption if it requires

the property to be closed to hotel guests for one month or longer. In each case, these hotels are returned to the comparable hotel set when the operations of the

hotel have been included in our consolidated results for one full calendar year after the hotel has reopened. Often, related to events that cause property damage

and the closure of a hotel, we will collect business interruption insurance proceeds for the near-term loss of business. These proceeds are included in net gain on

insurance settlements on our condensed consolidated statements of operations. Business interruption insurance gains covering lost revenues while the property

was considered non-comparable also will be excluded from the comparable hotel results.

Of the 75 hotels that we owned as of June 30, 2026, 74 have been classified as comparable hotels. The operating results of the following properties that we

owned as of June 30, 2026 are excluded from comparable hotel results for these periods:

•The Don CeSar (business disruption due to Hurricane Helene resulting in closure of the hotel beginning at the end of September 2024, reopened in

March 2025); and

•Operations related to the development and sale of condominium units on a development parcel adjacent to the Four Seasons Resort Orlando at Walt

Disney World® Resort.

NON-GAAP FINANCIAL MEASURES

Included in this supplemental information are certain “non-GAAP financial measures,” which are measures of our historical or future financial performance that

are not calculated and presented in accordance with GAAP, within the meaning of applicable SEC rules. They are as follows: (i) FFO and FFO per diluted share

(both NAREIT and Adjusted), (ii) EBITDA, both at the hotel level and company-wide, (iii) EBITDAre and Adjusted EBITDAre, (iv) net operating income (NOI), (v)

Comparable Hotel Operating Statistics and Results, (vi) measures derived from EBITDA and NOI such as EBITDA multiples and capitalization rates, (vii) Credit

Facility Financial Performance Tests, and (viii) Senior Notes Financial Performance Tests. The following discussion defines these measures and presents why we

believe they are useful supplemental measures of our performance.

© Host Hotels & Resorts, Inc.39

NOTES TO SUPPLEMENTAL FINANCIAL INFORMATION

NON-GAAP FINANCIAL MEASURES (continued)

NAREIT FFO AND NAREIT FFO PER DILUTED SHARE

We present NAREIT FFO and NAREIT FFO per diluted share as non-GAAP measures of our performance in addition to our earnings per share (calculated in

accordance with GAAP). We calculate NAREIT FFO per diluted share as our NAREIT FFO (defined as set forth below) for a given operating period, as adjusted for

the effect of dilutive securities, divided by the number of fully diluted shares outstanding during such period, in accordance with NAREIT guidelines. As noted in

NAREIT’s Funds From Operations White Paper – 2018 Restatement, NAREIT defines FFO as net income (calculated in accordance with GAAP) excluding

depreciation and amortization related to certain real estate assets, gains and losses from the sale of certain real estate assets, gains and losses from change in

control, impairment expense of certain real estate assets and investments and adjustments for consolidated partially owned entities and unconsolidated

affiliates. Adjustments for consolidated partially owned entities and unconsolidated affiliates are calculated to reflect our pro rata share of the FFO of those

entities on the same basis.

We believe that NAREIT FFO per diluted share is a useful supplemental measure of our operating performance and that the presentation of NAREIT FFO per

diluted share, when combined with the primary GAAP presentation of diluted earnings per share, provides beneficial information to investors. By excluding the

effect of real estate depreciation, amortization, impairment expense and gains and losses from sales of depreciable real estate, all of which are based on

historical cost accounting and which may be of lesser significance in evaluating current performance, we believe that such measures can facilitate comparisons

of operating performance between periods and with other REITs, even though NAREIT FFO per diluted share does not represent an amount that accrues directly

to holders of our common stock. Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably

over time. As noted by NAREIT in its Funds From Operations White Paper – 2018 Restatement, the primary purpose for including FFO as a supplemental measure

of operating performance of a REIT is to address the artificial nature of historical cost depreciation and amortization of real estate and real estate-related assets

mandated by GAAP. For these reasons, NAREIT adopted the FFO metric in order to promote a uniform industry-wide measure of REIT operating performance.

ADJUSTED  FFO PER DILUTED SHARE

We also present Adjusted FFO per diluted share when evaluating our performance because management believes that the exclusion of certain additional items

described below provides useful supplemental information to investors regarding our ongoing operating performance. Management historically has made the

adjustments detailed below in evaluating our performance, in our annual budget process and for our compensation programs. We believe that the presentation

of Adjusted FFO per diluted share, when combined with both the primary GAAP presentation of diluted earnings per share and FFO per diluted share as defined

by NAREIT, provides useful supplemental information that is beneficial to an investor’s understanding of our operating performance. We adjust NAREIT FFO per

diluted share for the following items, which may occur in any period, and refer to this measure as Adjusted FFO per diluted share:

•Gains and Losses on the Extinguishment of Debt – We exclude the effect of finance charges and premiums associated with the extinguishment of debt,

including the acceleration of the write-off of deferred financing costs from the original issuance of the debt being redeemed or retired and incremental

interest expense incurred during the refinancing period. We also exclude the gains on debt repurchases and the original issuance costs associated with

the retirement of preferred stock. We believe that these items are not reflective of our ongoing finance costs.

© Host Hotels & Resorts, Inc.40

NOTES TO SUPPLEMENTAL FINANCIAL INFORMATION

NON-GAAP FINANCIAL MEASURES (continued)

•Acquisition Costs – Under GAAP, costs associated with completed property acquisitions that are considered business combinations are expensed in the

year incurred. We exclude the effect of these costs because we believe they are not reflective of the ongoing performance of the Company.

•Litigation Gains and Losses – We exclude the effect of gains or losses associated with litigation recorded under GAAP that we consider to be outside the

ordinary course of business. We believe that including these items is not consistent with our ongoing operating performance.

•Severance Expense – In certain circumstances, we will add back hotel-level severance expenses when we do not believe that such expenses are

reflective of the ongoing operation of our properties. Situations that would result in a severance add-back include, but are not limited to, (i) costs

incurred as part of a broad- based reconfiguration of the operating model with the specific hotel operator for a portfolio of hotels and (ii) costs incurred

at a specific hotel due to a broad- based and significant reconfiguration of a hotel and/or its workforce. We do not add back corporate-level severance

costs or severance costs at an individual hotel that we consider to be incurred in the normal course of business.

•Non-Cash Stock-Based Compensation - We exclude the expense recorded for non-cash stock-based compensation, as it represents a non-cash

transaction and the add back is consistent with the calculation of Adjusted EBITDA for our financial covenant ratios under our credit facility and senior

notes indentures and consistent with the presentation of Adjusted FFO per diluted share  for the majority of other lodging REIT filers.

In unusual circumstances, we also may adjust NAREIT FFO for gains or losses that management believes are not representative of the Company’s current

operating performance. For example, in 2017, as a result of the reduction of the U.S. federal corporate income tax rate from 35% to 21% by the Tax Cuts and Jobs

Act, we remeasured our domestic deferred tax assets as of December 31, 2017 and recorded a one-time adjustment to reduce our deferred tax assets and to

increase the provision for income taxes by approximately $11 million. We do not consider this adjustment to be reflective of our ongoing operating performance

and, therefore, we excluded this item from Adjusted FFO.

EBITDA AND NOI AND ASSOCIATED METRICS

Earnings before Interest Expense, Income Taxes, Depreciation and Amortization (“EBITDA”) is a commonly used measure of performance in many industries.

Management believes EBITDA provides useful information to investors regarding our results of operations because it helps us and our investors evaluate the

ongoing operating performance of our properties after removing the impact of the Company’s capital structure (primarily interest expense) and its asset base

(primarily depreciation and amortization). Management also believes the use of EBITDA facilitates comparisons between us and other lodging REITs, hotel

owners that are not REITs and other capital-intensive companies. Management uses EBITDA to evaluate property-level results and as one measure in

determining the value of acquisitions and dispositions and, like FFO and Adjusted FFO per diluted share, it is widely used by management in the annual budget

process and for our compensation programs. Management also uses EBITDA when calculating EBITDA multiples to evaluate acquisitions and dispositions.

EBITDA multiples are calculated as the sales price divided by hotel EBITDA. Management believes using EBITDA multiples allow for a consistent valuation

method in comparing the purchase or sale value of properties.

© Host Hotels & Resorts, Inc.41

NOTES TO SUPPLEMENTAL FINANCIAL INFORMATION

NON-GAAP FINANCIAL MEASURES (continued)

For a specific hotel, NOI is calculated as the hotel or entity level EBITDA less an estimate for the annual contractual reserve requirements for renewal and

replacement expenditures. Management uses NOI when calculating capitalization rates (“Cap Rates”) to evaluate acquisitions and dispositions. Cap rates are

calculated as hotel NOI divided by sales price. As with EBITDA multiples, management believes using Cap Rates allows for a consistent valuation method in

comparing the purchase or sale value of properties.

EBITDAre AND ADJUSTED EBITDAre

We present EBITDAre in accordance with NAREIT guidelines, as defined in its September 2017 white paper “Earnings Before Interest, Taxes, Depreciation and

Amortization for Real Estate,” to provide an additional performance measure to facilitate the evaluation and comparison of the Company’s results with other

REITs. NAREIT defines EBITDAre as net income (calculated in accordance with GAAP) excluding interest expense, income tax, depreciation and amortization,

gains or losses on disposition of depreciated property (including gains or losses on change of control), impairment expense for depreciated property and of

investments in unconsolidated affiliates caused by a decrease in value of depreciated property in the affiliate, and adjustments to reflect the entity’s pro rata

share of EBITDAre of unconsolidated affiliates.

We make additional adjustments to EBITDAre when evaluating our performance because we believe that the exclusion of certain additional items described

below provides useful supplemental information to investors regarding our ongoing operating performance. We believe that the presentation of Adjusted

EBITDAre, when combined with the primary GAAP presentation of net income, is beneficial to an investor’s understanding of our operating performance.

Adjusted EBITDAre also is similar to the measure used to calculate certain credit ratios for our credit facility and senior notes. We adjust EBITDAre for the

following items, which may occur in any period, and refer to this measure as Adjusted EBITDAre:

•Property Insurance Gains and Property Damage Losses – We exclude the effect of property insurance gains reflected in our condensed consolidated

statements of operations because we believe that including them in Adjusted EBITDAre is not consistent with reflecting the ongoing performance of our

assets. In addition, property insurance gains could be less important to investors given that the depreciated asset book value written off in connection

with the calculation of the property insurance gain often does not reflect the market value of real estate assets. Similarly, losses from property damage

or remediation costs that are not covered through insurance are excluded.

•Acquisition Costs – Under GAAP, costs associated with completed property acquisitions that are considered business combinations are expensed in the

year incurred. We exclude the effect of these costs because we believe they are not reflective of the ongoing performance of the Company.

•Litigation Gains and Losses – We exclude the effect of gains or losses associated with litigation recorded under GAAP that we consider to be outside the

ordinary course of business. We believe that including these items is not consistent with our ongoing operating performance.

•Severance Expense – In certain circumstances, we will add back hotel-level severance expenses when we do not believe that such expenses are

reflective of the ongoing operation of our properties. Situations that would result in a severance add-back include, but are not limited to, (i) costs

incurred as part of a broad-based reconfiguration of the operating model with the specific hotel operator for a portfolio of hotels and (ii) costs incurred

at a specific hotel due to a broad-based and significant reconfiguration of a hotel and/or its workforce. We do not add back corporate-level severance

costs or severance costs at an individual hotel that we consider to be incurred in the normal course of business.

© Host Hotels & Resorts, Inc.42

NOTES TO SUPPLEMENTAL FINANCIAL INFORMATION

NON-GAAP FINANCIAL MEASURES (continued)

•Non-Cash Stock-Based Compensation - We exclude the expense recorded for non-cash stock-based compensation, as it represents a non-cash

transaction and the add back is consistent with the calculation of Adjusted EBITDA for our financial covenant ratios under our credit facility and senior

notes indentures and consistent with the presentation of Adjusted EBITDAre for the majority of other lodging REIT filers.

In unusual circumstances, we also may adjust EBITDAre for gains or losses that management believes are not representative of the Company’s current operating

performance. The last adjustment of this nature was a 2013 exclusion of a gain from an eminent domain claim.

LIMITATIONS ON THE USE OF NAREIT FFO PER DILUTED SHARE, ADJUSTED FFO PER DILUTED SHARE, EBITDA, EBITDAre AND ADJUSTED

EBITDAre

We calculate EBITDAre and NAREIT FFO per diluted share in accordance with standards established by NAREIT, which may not be comparable to measures

calculated by other companies that do not use the NAREIT definition of EBITDAre and FFO or do not calculate FFO per diluted share in accordance with NAREIT

guidance. In addition, although EBITDAre and FFO per diluted share are useful measures when comparing our results to other REITs, they may not be helpful to

investors when comparing us to non-REITs. We also calculate Adjusted FFO per diluted share and Adjusted EBITDAre, which measures are not in accordance with

NAREIT guidance and may not be comparable to measures calculated by other REITs or by other companies. This information should not be considered as an

alternative to net income, operating profit, cash from operations or any other operating performance measure calculated in accordance with GAAP. Cash

expenditures for various long-term assets (such as renewal and replacement capital expenditures, with the exception of NOI), interest expense (for EBITDA,

EBITDAre, Adjusted EBITDAre, and NOI purposes only), severance expense related to significant property-level reconfiguration and other items have been, and

will be, made and are not reflected in the presentations for EBITDA (and measures derived from EBITDA such as NOI, Cap Rates and EBITDA multiples), EBITDAre,

Adjusted EBITDAre, NAREIT FFO per diluted share and Adjusted FFO per diluted share. Management compensates for these limitations by separately considering

the impact of these excluded items to the extent they are material to operating decisions or assessments of our operating performance.

Our consolidated statements of operations and consolidated statements of cash flows in the Company’s annual report on Form 10-K and quarterly reports on

Form 10-Q include interest expense, capital expenditures, and other excluded items, all of which should be considered when evaluating our performance, as well

as the usefulness of our non-GAAP financial measures. Additionally, NAREIT FFO per diluted share, Adjusted FFO per diluted share, EBITDA, EBITDAre and

Adjusted EBITDAre should not be considered as measures of our liquidity or indicative of funds available to fund our cash needs, including our ability to make

cash distributions. In addition, NAREIT FFO per diluted share and Adjusted FFO per diluted share do not measure, and should not be used as measures of,

amounts that accrue directly to stockholders’ benefit.

© Host Hotels & Resorts, Inc.43

NOTES TO SUPPLEMENTAL FINANCIAL INFORMATION

NON-GAAP FINANCIAL MEASURES (continued)

Similarly, EBITDAre, Adjusted EBITDAre, NAREIT FFO and Adjusted FFO per diluted share include adjustments for the pro rata share of our equity investments,

and NAREIT FFO and Adjusted FFO per diluted share include adjustments for the pro rata share of non-controlling partners in consolidated partnerships. Our

equity investments consist of interests ranging from 11% to 67% in seven domestic partnerships that own a total of 120 properties and a vacation ownership

development. Due to the voting rights of the outside owners, we do not control and, therefore, do not consolidate these entities. The non-controlling partners in

consolidated partnerships primarily consist of the approximate 1% interest in Host LP held by unaffiliated limited partners and a 15% interest held by an

unaffiliated limited partner in a partnership owning one hotel for which we do control the entity and, therefore, consolidate its operations. These pro rata results

for NAREIT FFO and Adjusted FFO per diluted share, EBITDAre and Adjusted EBITDAre were calculated as set forth in the definitions above. Readers should be

cautioned that the pro rata results presented in these measures for consolidated partnerships (for NAREIT FFO and Adjusted FFO per diluted share) and equity

investments may not accurately depict the legal and economic implications of our investments in these entities.

COMPARABLE HOTEL PROPERTY LEVEL OPERATING RESULTS

We present certain operating results for our hotels, such as hotel revenues, expenses, food and beverage profit, and EBITDA (and the related margins), on a

comparable hotel, or "same store," basis as supplemental information for our investors. Our comparable hotel results present operating results for our hotels

without giving effect to dispositions or properties that experienced closures due to renovations or property damage, as discussed in “Comparable Hotel

Operating Statistics and Results” above. We present comparable hotel EBITDA to help us and our investors evaluate the ongoing operating performance of our

comparable hotels after removing the impact of the Company’s capital structure (primarily interest expense) and its asset base (primarily depreciation and

amortization expense). Corporate-level costs and expenses also are removed to arrive at property-level results. We believe these property-level results provide

investors with supplemental information about the ongoing operating performance of our comparable hotels. Comparable hotel results are presented both by

location and for the Company’s properties in the aggregate. We eliminate from our comparable hotel level operating results severance costs related to broad-

based and significant property-level reconfiguration that is not considered to be within the normal course of business, as we believe this elimination provides

useful supplemental information that is beneficial to an investor’s understanding of our ongoing operating performance. We also eliminate depreciation and

amortization expense because, even though depreciation and amortization expense are property-level expenses, these non-cash expenses, which are based on

historical cost accounting for real estate assets, implicitly assume that the value of real estate assets diminishes predictably over time. As noted earlier, because

real estate values historically have risen or fallen with market conditions, many real estate industry investors have considered presentation of historical cost

accounting for operating results to be insufficient.

Because of the elimination of corporate-level costs and expenses, gains or losses on disposition, certain severance expenses and depreciation and amortization

expense, the comparable hotel operating results we present do not represent our total revenues, expenses, operating profit or net income and should not be

used to evaluate our performance as a whole. Management compensates for these limitations by separately considering the impact of these excluded items to

the extent they are material to operating decisions or assessments of our operating performance. Our condensed consolidated statements of operations include

such amounts, all of which should be considered by investors when evaluating our performance.

© Host Hotels & Resorts, Inc.44

NOTES TO SUPPLEMENTAL FINANCIAL INFORMATION

NON-GAAP FINANCIAL MEASURES (continued)

We present these hotel operating results on a comparable hotel basis because we believe that doing so provides investors and management with useful

information for evaluating the period-to-period performance of our hotels and facilitates comparisons with other hotel REITs and hotel owners. In particular,

these measures assist management and investors in distinguishing whether increases or decreases in revenues and/or expenses are due to growth or decline of

operations at comparable hotels (which represent the vast majority of our portfolio) or from other factors. While management believes that presentation of

comparable hotel results is a supplemental measure that provides useful information in evaluating our ongoing performance, this measure is not used to

allocate resources or to assess the operating performance of each of our hotels, as these decisions are based on data for individual hotels and are not based on

comparable hotel results in the aggregate. For these reasons, we believe comparable hotel operating results, when combined with the presentation of GAAP

operating profit, revenues and expenses, provide useful information to investors and management.

CREDIT FACILITY – LEVERAGE, UNSECURED INTEREST COVERAGE AND CONSOLIDATED FIXED CHARGE COVERAGE RATIOS

Host’s credit facility contains certain financial covenants, including allowable leverage, unsecured interest coverage and fixed charge ratios, which are

determined using EBITDA as calculated under the terms of our credit facility (“Adjusted Credit Facility EBITDA”). The leverage ratio is defined as net debt plus

preferred equity to Adjusted Credit Facility EBITDA. The unsecured interest coverage ratio is defined as unencumbered Adjusted Credit Facility EBITDA to

unsecured consolidated interest expense. The fixed charge coverage ratio is defined as Adjusted Credit Facility EBITDA divided by fixed charges, which include

interest expense, required debt amortization payments, cash taxes and preferred stock payments. These calculations are based on pro forma results for the prior

four fiscal quarters giving effect to transactions such as acquisitions, dispositions and financings as if they occurred at the beginning of the period. The credit

facility also incorporates by reference the ratio of unencumbered assets to unsecured indebtedness test from our senior notes indentures, calculated in the same

manner, and the covenant is discussed below with the senior notes covenants.

Additionally, total debt used in the calculation of our leverage ratio is based on a “net debt” concept, under which cash and cash equivalents in excess of $100

million are deducted from our total debt balance. Management believes these financial ratios provide useful information to investors regarding our compliance

with the covenants in our credit facility and our ability to access the capital markets, in particular debt financing.

SENIOR NOTES INDENTURE – INDEBTEDNESS TEST, SECURED INDEBTEDNESS TO TOTAL ASSETS TEST, EBITDA-TO-INTEREST COVERAGE

RATIO AND RATIO OF UNENCUMBERED ASSETS TO UNSECURED INDEBTEDNESS

Host’s senior notes indentures contains certain financial covenants, including allowable indebtedness, secured indebtedness to total assets, EBITDA-to-interest

coverage and unencumbered assets to unsecured indebtedness. The indebtedness test is defined as adjusted indebtedness, which includes total debt adjusted

for deferred financing costs, divided by adjusted total assets, which includes undepreciated real estate book values (“Adjusted Total Assets”). The secured

indebtedness to total assets is defined as secured indebtedness, which includes mortgage debt and finance leases, divided by Adjusted Total Assets. The

EBITDA-to-interest coverage ratio is defined as EBITDA as calculated under our senior notes indenture (“Adjusted Senior Notes EBITDA”) to interest expense as

defined by our senior notes indenture. The ratio of unencumbered assets to unsecured indebtedness is defined as unencumbered adjusted assets, which

includes Adjusted Total Assets less encumbered assets, divided by unsecured debt, which includes the aggregate principal amount of outstanding unsecured

indebtedness plus contingent obligations.

© Host Hotels & Resorts, Inc.45

NOTES TO SUPPLEMENTAL FINANCIAL INFORMATION

NON-GAAP FINANCIAL MEASURES (continued)

Under the terms of the senior notes indentures, interest expense excludes items such as the gains and losses on the extinguishment of debt, deferred financing

charges related to the senior notes or the credit facility, amortization of debt premiums or discounts that were recorded at issuance of a loan to establish its fair

value and non-cash interest expense, all of which are included in interest expense on our consolidated statement of operations. As with the credit facility

covenants, management believes these financial ratios provide useful information to investors regarding our compliance with the covenants in our senior notes

indentures and our ability to access the capital markets, in particular debt financing.

LIMITATIONS ON CREDIT FACILITY AND SENIOR NOTES CREDIT RATIOS

These metrics are useful in evaluating the Company’s compliance with the covenants contained in its credit facility and senior notes indentures. However,

because of the various adjustments taken to the ratio components as a result of negotiations with the Company’s lenders and noteholders they should not be

considered as an alternative to the same ratios determined in accordance with GAAP. For instance, interest expense as calculated under the credit facility and

senior notes indenture excludes the items noted above such as deferred financing charges and amortization of debt premiums or discounts, all of which are

included in interest expense on our consolidated statement of operations. Management compensates for these limitations by separately considering the impact

of these excluded items to the extent they are material to operating decisions or assessments of performance. In addition, because the credit facility and

indenture ratio components are also based on pro forma results for the prior four fiscal quarters, giving effect to transactions such as acquisitions, dispositions

and financings as if they occurred at the beginning of the period, they are not reflective of actual performance over the same period calculated in accordance

with GAAP.

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