OFFICE PROPERTIES INCOME TRUST Business Summary

Office Properties Income Trust (OPITQ) is a real estate investment trust (REIT) that generates revenue primarily through long-term lease agreements for office and mixed-use properties. The company’s business model is centered on the direct ownership and management of a portfolio that, as of early 2026, consists of approximately 124 properties totaling over 17 million rentable square feet. Its primary business segments are categorized by tenant type, with a significant concentration in government-leased assets (notably the U.S. General Services Administration) and properties occupied by investment-grade corporate tenants. Currently operating under Chapter 11 bankruptcy protection following a late 2025 filing, the company is executing a court-supervised restructuring to equitize approximately $1 billion in debt. Direct competitors include Hudson Pacific Properties, Inc., Brandywine Realty Trust, Cousins Properties, and Postal Realty Trust. Relative to these peers, OPITQ occupies a distressed market position, transitioning from a high-credit, government-focused landlord to a leaner, restructured entity focused on mission-critical asset retention and liquidity preservation. Leadership is provided by a senior management team from The RMR Group (Nasdaq: RMR), which has externally managed the trust since its inception in 2009. Yael Duffy serves as President and Chief Executive Officer, bringing over 15 years of experience in asset management and commercial real estate, including her role as an Executive Vice President at RMR. Brian Donley, the Chief Financial Officer and Treasurer, is a Certified Public Accountant with over 25 years of experience in corporate finance and capital markets. The company is overseen by a Board of Trustees that includes Managing Trustee Adam Portnoy, who is also the President and CEO of The RMR Group, and Lead Independent Trustee Elena Poptodorova. Notably, the board recently added Timothy Pohl, a veteran restructuring advisor with a pedigree from Lazard and Skadden Arps, to navigate the complex Chapter 11 proceedings. Major institutional stakeholders involved in the restructuring include Aristeia Capital, Invesco, and Jane Street Group, though the current reorganization plan anticipates the cancellation of existing common shares.