Material Event (Form 8-K)

ATM Program

On August 7, 2026, Summit Hotel Properties, Inc. (the "Company") and Summit Hotel OP, LP, the operating partnership of the Company (the "Operating Partnership"), entered into an equity distribution agreement (the "Equity Distribution Agreement") with Robert W. Baird & Co. Incorporated, BofA Securities, Inc., BTIG, LLC, Cantor Fitzgerald & Co., Capital One Securities, Inc., Huntington Securities, Inc., J.P. Morgan Securities LLC, M&T Securities, Inc., Nomura Securities International, Inc. (as forward seller through BTIG, LLC), Raymond James & Associates, Inc., RBC Capital Markets, LLC, Regions Securities LLC, Scotia Capital (USA) Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC, as sales agents for the Company, principals and/or (except in the case of Robert W. Baird & Co. Incorporated, BTIG, LLC, Capital One Securities, Inc. and M&T Securities, Inc.) forward sellers (in any such capacity, each a "Manager" and, collectively, the "Managers") and Bank of America, N.A., The Bank of Nova Scotia, CF Secured, LLC, Huntington Securities, Inc., JPMorgan Chase Bank, National Association, Nomura Global Financial Products, Inc., Raymond James & Associates, Inc., Regions Securities LLC, Royal Bank of Canada, Truist Bank and Wells Fargo Bank, National Association, as forward purchasers (in such capacity, each a "Forward Purchaser" and, collectively, the "Forward Purchasers"), providing for the offer and sale of shares of the Company's common stock, par value $0.01 per share ("Common Stock"), having an aggregate gross sales price of up to $200,000,000 through or to the Managers, as the Company's sales agents or, if applicable, as forward sellers, or directly to the Managers, as principals.

Sales of shares of the Company's Common Stock, if any, made through the Managers, as the Company's sales agents or, if applicable, as forward sellers pursuant to the Equity Distribution Agreement, may be made in sales deemed to be "at-the-market offerings" as defined in Rule 415 under the Securities Act of 1933, as amended (the "Securities Act"), including (1) by means of ordinary brokers' transactions on the New York Stock Exchange at market prices prevailing at the time of sale, in negotiated transactions or as otherwise agreed by the Company, the applicable Manager and the applicable investor, (2) to or through any market maker or (3) on or through any other national securities exchange or facility thereof, trading facility of a securities association or national securities exchange, alternative trading system, electronic communication network or other similar market venue.

The Managers are not required to sell any specific number or dollar amount of shares of the Company's Common Stock, but will use their commercially reasonable efforts consistent with the Company's normal trading and sales practices as its sales agents or as forward sellers and subject to the terms of the Equity Distribution Agreement and, in the case of shares offered through such Managers as forward sellers, the relevant forward sale agreements to be entered into by the Company with the related Forward Purchasers (each a "Forward Confirmation" and, collectively, the "Forward Confirmations") to sell the shares of the Company's Common Stock, as instructed by the Company and, in the case of shares offered through such Managers as forward sellers, the relevant Forward Purchasers. The shares of the Company's Common Stock offered and sold through the Managers, as its sales agents or as forward sellers, pursuant to the Equity Distribution Agreement will be offered and sold through only one Manager on any given day.