American Hotel Income Properties announces support agreement with securityholder

American Hotel Income Properties REIT announced that the annual meeting of unitholders of AHIP will be held in Vancouver on June 8, 2023 and that AHIP and its general partner, American Hotel Income Properties REIT, have entered into a support agreement with K2 Principal Fund L.P. and K2 & Associates Investment Management. The K2 Group is a significant securityholder of AHIP. The Support Agreement provides for, among other things, the right of the K2 Group to nominate one individual for election to the board of directors of AHIP GP at the Meeting. For purposes of the Meeting, the K2 Group has identified Josef Vejvoda as its nominee. Vejvoda acts as a special advisor to K2. The Support Agreement also provides the K2 Group with the right to nominate one individual for election to the Board for the purposes of the 2024 annual meeting of AHIP’s unitholders and sets out customary standstill restrictions and voting covenants which the K2 Group will be bound by until the later of the day immediately after the 2024 Meeting or June 30, 2024 and thirty days after the K2 Group ceases to have a nominee serving on the Board.