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Real eigenvalues of pseudo-Hermitian matrices, such as real matrices and $\mathcal{PT-}$symmetric matrices, frequently split into complex conjugate pairs. This is accompanied by the breaking of certain symmetries of the eigenvectors and, typically, also a drastic change in the behavior of the system. In this paper, we classify the eigenspace of pseudo-Hermitian matrices and show that such symmetry breaking occurs if and only if eigenvalues of opposite kinds collide on the real axis of the complex eigenvalue plane. This enables a classification of the disconnected regions in parameter space where all eigenvalues are real -- which correspond, physically, to the stable phases of the system. These disconnected regions are surrounded by exceptional surfaces which comprise all the real-valued exceptional points of pseudo-Hermitian matrices. The exceptional surfaces, together with the diabolic points created by their intersections, comprise all points of pseudo-Hermiticity breaking. In particular, this clarifies that the degeneracy involved in symmetry breaking is not necessarily an exceptional point. We also discuss how our study relates to conserved quantities and derive the conditions for when degeneracies caused by external symmetries are susceptible to thresholdless pseudo-Hermiticity breaking. We illustrate our results with examples from photonics, condensed matter physics, and mechanics.