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ZAZOVE ASSOCIATES LLC
> BHR
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 06/30/2023 | Braemar Hotels & Resorts Inc. | BHR | 2,101,511 | 0 | 8,448,000 | 336,000 | $4.02 |
| 03/31/2023 | Braemar Hotels & Resorts Inc. | BHR | 2,101,511 | 0 | 8,112,000 | -525,000 | $3.86 |
| 12/31/2022 | Braemar Hotels & Resorts Inc. | BHR | 2,101,511 | 103,152 | 8,637,000 | 64,000 | $4.11 |
| 06/30/2022 | Braemar Hotels & Resorts Inc. | BHR | 1,998,359 | 0 | 8,573,000 | -3,777,000 | $4.29 |
| 03/31/2022 | Braemar Hotels & Resorts Inc. | BHR | 1,998,359 | 268,178 | 12,350,000 | 12,341,609 | $6.18 |
| 12/31/2021 | Braemar Hotels & Resorts Inc. | BHR | 5,989,050 | 4,258,869 | 30,544,155 | 30,535,764 | $5.10 |
| 09/30/2021 | Braemar Hotels & Resorts Inc. | BHR | 1,730,181 | 24,057 | 8,391 | -2,204 | $0.00 |
| 06/30/2021 | Braemar Hotels & Resorts Inc. | BHR | 1,706,124 | 1,540,337 | 10,595 | -753,405 | $0.01 |
| 12/31/2020 | Braemar Hotels & Resorts Inc. | BHR | 165,787 | 0 | 764,000 | 350,000 | $4.61 |
| 09/30/2020 | Braemar Hotels & Resorts Inc. | BHR | 165,787 | 72,895 | 414,000 | 413,734 | $2.50 |
| 06/30/2020 | Braemar Hotels & Resorts Inc. | BHR | 92,892 | 92,892 | 266 | 266 | $0.00 |
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