Pennsylvania Real Estate Investment Trust announced as previously disclosed in a Current Report on Form 8-K filed by Pennsylvania Real Estate Investment Trust (the Trust) with the Securities and Exchange Commission on June 7, 2023, at the Trust's 2023 Annual Meeting of Shareholders held on June 1, 2023, the trustees George J. Alburger, Jr., Joseph F. Coradino, Michael J. DeMarco, JoAnne A. Epps, Mark E. Pasquerilla, Charles P. Pizzi and John J. Roberts were re-elected by a plurality of votes cast by the Common Shareholders, however, none of them received a majority of the votes cast. Accordingly, pursuant to the Trust's corporate governance guidelines, each of Mr. Alburger, Mr. Coradino, Mr. DeMarco, Ms. Epps, Mr. Pasquerilla, Mr. Pizzi and Mr. Roberts tendered his or her offer of resignation to the Board of Trustees of the Trust . The Board as a whole, rather than the Nominating and Governance Committee of the Board (the Committee), considered each resignation offer because each member of the Committee did not receive a majority of the votes cast at the same election by the Common Shareholders, and no other independent trustees elected by the Common Shareholders were present on the Board to form a committee to offer a recommendation to the Board.

In each case, the applicable trustee did not participate in the deliberation or decision regarding his or her resignation offer. The board determined that it was in the best interest of the Trust to act promptly on this matter. In determining whether to accept or reject each resignation offer, the Board considered a number of factors relative to the best interests of the Trust and its shareholders.