July 13, 2021 -- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO), the owner of Long-Term Relevant Real Estate® in the hospitality sector, announced today it intends to redeem all 3,000,000 outstanding shares of its 6.450% Series F Cumulative Redeemable Preferred Stock (CUSIP: 867892-70-5). Series F Preferred Stock held through the Depository Trust Company will be redeemed in accordance with the applicable procedures of the Depository Trust Company. The redemption date will be August 12, 2021. The Series F Preferred Stock will be redeemed for $25.00 per share, plus all accrued and unpaid dividends to, but not including, the redemption date in an amount equal to $0.183646 per share, for a total payment of $25.183646 per share, which will be payable in cash, without interest, on the redemption date. After the redemption date, Series F Preferred Stock will no longer be deemed outstanding and all the rights of the holders of Series F Preferred Stock will terminate, except the right to receive the redemption price. In addition, because all the issued and outstanding shares of Series F Preferred Stock are being redeemed, the Series F Preferred Stock will no longer trade on the New York Stock Exchange after the redemption date.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Sunstone Hotel Investors, Inc., 6.45% Series F Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 5/17/2021 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 6.45% ($1.6125 per annum or $0.403125 per quarter) are paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date fixed by the board (NOTE: the ex-dividend date is one business day prior to the record date). Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will NOT have the following conversion right. Upon the occurrence of a change of control, and the company has NOT provided notice that they intend to redeem the preferred shares, the holder will have the right to convert the preferred shares into common shares under certain circumstances (see the prospectus for details). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	6.45% $1.61	$25.00 $25.00	Called for 8/12/2021 None	WR NF 11/20/2020	1/15, 4/15, 7/15 & 10/15 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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Email Address

InvestorRelations@sunstonehotels.com

Address and Phone Numbers

Address:   200 Spectrum Center Drive, 21st Floor, Irvine, CA 92656
Main Phone Number	949-330-4000
Fax Number	Not Available
Investor Relations	800-494-0215
Toll Free Phone Number	800-494-0215

CEO - John V. Arabia

CFO - Bryan Giglia