REIT Performance Overview - The REIT sector experienced a significant decline in April 2025, with an average total return of -6.45%, underperforming the broader market indices such as the Dow Jones Industrial Average (-3.1%), S&P 500 (-0.7%), and NASDAQ (+0.9%) [1] - Year-to-date, the average total return for REITs stands at -9.10%, which is worse than the -7.65% return for the same period in 2024 [12] Performance by Market Capitalization - Microcap REITs underperformed larger peers for the sixth consecutive month, with returns of -8.87% [3] - Large-cap REITs (-2.93%) outperformed mid-caps (-5.45%) and small caps (-8.69%) in April, with large-cap REITs outperforming small caps by 1081 basis points in the first four months of 2025 [3] Property Type Performance - Only 11.11% of REIT property types averaged a positive total return in April, with a 20.17% spread between the best (Data Centers +7.28%) and worst-performing property types (Timber -12.90%) [5][6] - Year-to-date, Office REITs (-24.06%) and Hotel REITs (-22.90%) significantly underperformed, while Health Care (+7.23%), Infrastructure (+6.88%), and Casinos (+6.00%) were the only property types with positive returns [7] Price/FFO Multiples - The average P/FFO for the REIT sector decreased from 13.9x to 13.4x in April, with 83.3% of property types experiencing multiple contraction [8] - Data Centers (26.9x), Multifamily (24.6x), and Infrastructure (18.7x) currently trade at the highest average multiples among REIT property types, while Hotels (5.9x) and Offices (8.2x) have the lowest [9] Individual REIT Performance - Digital Realty Trust (DLR) achieved a strong gain of +12.04% in April, despite a year-to-date return of -8.72% [11] - Wheeler REIT (WHLR) was the worst-performing REIT in April, with a staggering decline of -63.61% for the month and -98.29% year-to-date [11] Dividend Yield Insights - The high dividend yields of the REIT sector are a primary reason for investment, with many REITs trading below their NAV, resulting in attractive yields [15]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-9317 EQUITY COMMONWEALTH (Exact name of registrant as specified in its charter) Maryland 04-6558834 (State or other jurisdiction of incorporation or organiza ...

Equity Commonwealth (NYSE:EQC) Q4 2024 Results Conference Call February 27, 2025 2:00 PM ET Company Participants Bill Griffiths - Chief Financial Officer Operator Good afternoon, and thanks for joining this call to discuss Equity Commonwealth's progress for the year ended December 31, 2024, and an update on the wind-down process. [Operator Instructions] As a reminder, this conference is being recorded. Please be advised that certain matters discussed during this conference call may constitute forward-lookin ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K Maryland 04-6558834 (312) 646-2800 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-9317 EQUITY COMMONWEALTH (Exact Name of Registrant as Specified in Its Charter) (State or other jurisdiction of incorporation or organization) (I ...

Equity Commonwealth (EQC) Q4 2024 Earnings Call February 27, 2025 02:00 PM ET Company Participants William Griffiths - Executive VP, CFO & Treasurer Operator Good afternoon and thanks for joining this call to discuss Equity Commonwealth's progress for the year ended 12/31/2024, and an update on the wind down process. At this time, all participants are on a listen only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. Please be advised ...

Exhibit 99.1 Two North Riverside Plaza, Suite 2000, Chicago, Illinois 60606 Equity Commonwealth Completes Sale of 1225 Seventeenth Street Plaza and Reports 2024 Results Updates Estimated Aggregate Shareholder Liquidating Distribution Range to $20.55 to $20.70 Per Common Share Chicago – February 27, 2025 – Equity Commonwealth (NYSE: EQC) (the "Company") announced today that it closed on the sale of its last remaining property, 1225 Seventeenth Street, a 709,402 square foot office property in Denver, Colorado ...

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Financial Data and Key Metrics Changes - The company recognized a $50 million non-cash impairment charge in the quarter's financials due to the properties held for sale [3] - Total distributions from the Plan of Sale are estimated to be in the range of $19.50 to $21 per share [4] - The company expects to pay a common distribution of $18 to $19 per share following shareholder approval [5] Business Line Data and Key Metrics Changes - The company has two properties in Austin and one in Washington, D.C. under contract for sale, with the closing expected to begin in early November [3] - The marketing of the Denver property commenced in September, but no updates on that process were provided [3] Market Data and Key Metrics Changes - The disposition process has been described as reasonably smooth, although selling office buildings remains challenging [6] - The company is focused on executing the wind-down process prudently and efficiently, with the goal of winding down by the end of the second quarter of 2025 [5][6] Company Strategy and Development Direction - The company plans to adopt liquidation basis accounting for its 2024 10-K, recognizing assets at expected collection amounts and accruing estimated expenses [4] - Following the sale of remaining assets, the company aims to distribute substantially all remaining cash, net of reserves for liabilities [5] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging environment for selling office buildings and noted that the inability to close one or more dispositions could affect the overall wind-down timing [6] - The company continues to expect to qualify as a REIT in 2024 and 2025 [5] Other Important Information - A special shareholder meeting is scheduled for November 12, 2024, to vote on the Plan of Sale and related advisory votes [4] - The company will provide updates on the progress of asset dispositions as they occur [3][5] Q&A Session Summary Question: Timing of Series B preferred payment - The Series D preferred will be paid first, followed by the common distribution a few days later [7] Question: Asset sales and buyer deposits - Deposits range from 1% to 5% of purchase prices, with two buyers being all cash, which reduces financing risk [9] Question: Expected closing timing for asset sales - Closings are subject to conditions and buyers have extension rights, but are expected to begin in early November [11] Question: Cash position and wind-down costs - Wind-down costs have not changed from the previously discussed $50 million [12]

Exhibit 99.2 Equity Commonwealth Supplemental Operating and Financial Information Third Quarter 2024 Corporate Headquarters Investor Relations Two North Riverside Plaza (312) 646-2801 Suite 2000 ir@eqcre.com Chicago, IL 60606 www.eqcre.com (312) 646-2800 TABLE OF CONTENTS Corporate Information Company Profile and Investor Information 3 Financial Information Key Financial Data 4 Condensed Consolidated Balance Sheets 5 Additional Balance Sheet Information 6 Condensed Consolidated Statements of Operations 7 Ca ...

(1) Square footage as of June 30, 2024 includes space subject to leases that have commenced for revenue recognition purposes in accordance with GAAP, space being fitted out for occupancy pursuant to existing leases, and space which is leased but is not occupied or is being offered for sublease by tenants. 18 LTIP Units Tenant Improvements COMMON & POTENTIAL COMMON SHARES Funds from Operations (FFO) and Normalized FFO Percentage Commenced 21 Exhibit 99.2 Second Quarter 2024 TABLE OF CONTENTS Financial Inform ...