Andaz San Diego San Diego,California Other Accomplishments and Highlights: We ended 2013 with a portfolio of over $10 billion in property assets. Our portfolio consists of 501 properties, totaling 26 million square feet of retail, o ffi ce and industrial space, 8,290 student housing beds and 19,337 hotel rooms. Funds from operations equaled $460 million, or $0.51 per share, while our annual distribution per share to our stockholders was $0.50. Including distributions from 2013, Inland American has declared distributions totaling $2.8 billion to our stockholders since October 2005. • We launched a $600 million joint venture partnership with Dutch pension fund PGGM in order to grow our portfolio of multi-tenant retail properties through new development in stable, growing regions, including Texas and Oklahoma. • We established a new $500 million credit facility, providing us with additional capital to execute our portfolio strategy. • Same-Store net operating income grew 2.2% over 2012 to $466 million, driven by the performance of the lodging and student housing portfolios. • We completed the acquisition of more than $960 million of upper-upscale lodging assets, growing this portion of our portfolio with best-in-class assets while also selling o ff  some non-core properties. • We acquired three new student housing properties for $160 million, with several other development projects also currently underway. In February 2014, with the help of our stockholders, the Company took another step forward in the execution of our long-term strategy. As you may recall, in 2013 the Board of Directors reviewed our governing documents in the context of our long-term strategy, and concluded that our charter was unduly restrictive and might limit our ability to execute some of our plans. We therefore proposed certain amendments to our charter to provide the Company with greater  fl exibility, and our stockholders approved the proposed changes at our Annual Stockholders Meeting on February 26, 2014. 4 | Inland American 2013 Annual Report