SUNSTONE HOTEL INVESTORS ANNOUNCES TAX TREATMENT OF 2022 DIVIDENDS

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ALISO VIEJO, Calif., Jan. 20, 2023 /PRNewswire/ -- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO), the owner of Long-Term Relevant Real Estate® in the lodging industry, announced the following tax treatment of the 2022 distributions to holders of the Company's common and Series H and Series I preferred stock.

Security Description	CUSIP	Ticker Symbol	Record Date	Payable Date	Total Distribution Per Share	Ordinary Dividends	Total Section 199A Dividends

Common	867892101	SHO	9/30/2022	10/17/2022	$0.050000	$0.050000	$0.050000
Common	867892101	SHO	12/30/2022	1/17/2023	$0.050000	$0.050000	$0.050000

Series H Preferred	867892804	SHO/PR H	3/31/2022	4/18/2022	$0.382813	$0.382813	$0.382813
Series H Preferred	867892804	SHO/PR H	6/30/2022	7/15/2022	$0.382813	$0.382813	$0.382813
Series H Preferred	867892804	SHO/PR H	9/30/2022	10/17/2022	$0.382813	$0.382813	$0.382813
Series H Preferred	867892804	SHO/PR H	12/30/2022	1/17/2023	$0.382813	$0.382813	$0.382813

Series I Preferred	867892887	SHO/PR I	3/31/2022	4/18/2022	$0.356250	$0.356250	$0.356250
Series I Preferred	867892887	SHO/PR I	6/30/2022	7/15/2022	$0.356250	$0.356250	$0.356250
Series I Preferred	867892887	SHO/PR I	9/30/2022	10/17/2022	$0.356250	$0.356250	$0.356250
Series I Preferred	867892887	SHO/PR I	12/30/2022	1/17/2023	$0.356250	$0.356250	$0.356250

For stockholders whose shares are held through a bank, broker or nominee, questions regarding the dividend should be directed to the applicable bank, broker or nominee. For registered stockholders, questions regarding the dividend should be directed to Sunstone's transfer agent: Shareholder Services at American Stock Transfer and Trust Company at (718) 921-8124 or toll free at (800) 937-5449.

Shareholders are encouraged to consult with a personal tax advisor regarding their specific tax treatment of the Company's distributions.

About Sunstone Hotel Investors

Sunstone Hotel Investors, Inc. is a lodging real estate investment trust ("REIT"). Sunstone's strategy is to create long-term stakeholder value through the acquisition, active ownership and disposition of hotels considered to be Long-Term Relevant Real Estate®. For further information, please visit Sunstone's website at www.sunstonehotels.com. The Company's website is provided as a reference only and any information on the website is not incorporated by reference in this release.

For Additional Information

Aaron ReyesChief Financial OfficerSunstone Hotel Investors, Inc.(949) 382-3018

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