Office Properties Income Trust (NASDAQ:OPI) Q3 2020 Earnings Conference Call October 30, 2020 10:00 AM ET Company Participants Olivia Snyder – Manager-Investor Relations David Blackman – President and Chief Executive Officer Matt Brown – Chief Financial Officer and Treasurer Chris Bilotto – Vice President and Chief Operating Officer Conference Call Participants Bryan Maher – B. Riley FBR Vikram Malhotra – Morgan Stanley Venkat Kommineni – Mizuho Michael Carroll – RBC Capital Markets Operator Good morning an ...

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 September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-34364 OFFICE PROPERTIES INCOME TRUST | Title of Each Class | Trading Symbol(s) | Name Of Each Exchange On Which Registered | | --- | --- | --- | | Common ...

Office Properties Income Trust (NASDAQ:OPI) Q2 2020 Earnings Conference Call July 30, 2020 10:00 AM ET Company Participants Olivia Snyder - Manager of Investor Relations David Blackman - President & Chief Executive Officer Chris Bilotto - Vice President & Chief Operating Officer Matt Brown - Chief Financial Officer & Treasurer Conference Call Participants Bryan Maher - B. Riley FBR Adam Gabalski - Morgan Stanley Michael Carroll - RBC Capital Markets Operator Hello, and welcome to the Office Properties Incom ...

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 June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-34364 OFFICE PROPERTIES INCOME TRUST (Exact Name of Registrant as Specified in Its Charter) Maryland 26-4273474 (State or Other Jurisdiction of Incorporation ...

Table of Contents OFFICE PROPERTIES INCOME TRUST (Exact Name of Registrant as Specified in Its Charter) 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, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-34364 Indicate by check mark whether the registrant: (1) has filed all ...

Financial Data and Key Metrics Changes - Normalized FFO for Q1 2020 was $67.6 million or $1.40 per share, exceeding consensus estimates of $1.33 per share [33] - CAD for Q1 2020 was $47.4 million or $0.98 per share, resulting in a CAD payout ratio of 56.1% [35] - April rent collections remained strong with 96% of rent obligations collected [31] Business Line Data and Key Metrics Changes - The company completed almost 600,000 square feet of new and renewal leasing with a 4.1% loss in rent [12] - Consolidated occupancy increased by almost 200 basis points year-over-year to 91.5% [12][26] - Same property cash basis NOI increased by 1.2% year-over-year, beating guidance [41] Market Data and Key Metrics Changes - 62.2% of annualized rents are paid by investment-grade rated tenants, including over 38% from government tenants [11][18] - Approximately 78% of annualized rents are from tenants in essential industries [18] Company Strategy and Development Direction - The company has completed its disposition program to reduce leverage and plans to reinvigorate its capital recycling program once liquidity returns to the market [14] - The acquisition program will remain dormant until attractive opportunities arise [14] - The company aims to maintain its focus on investment-grade tenants and essential industries to mitigate risks [18] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to weather the economic shock from COVID-19 due to low lease expirations and strong liquidity [11][30] - The management anticipates a potential increase in office space demand as companies may require more space for physical distancing [54] - The company expects normalized FFO per share for Q2 2020 to be between $1.33 and $1.36, excluding potential impacts from tenant bankruptcies [43] Other Important Information - The company received the 2020 ENERGY STAR Partner of the Year Sustained Excellence Award for its energy management efforts [29] - 100% of properties remain operational, with protocols in place to ensure tenant and employee safety [23] Q&A Session Summary Question: Are you effectively done with the disposition process? - Yes, the company completed the deleveraging disposition process at the end of 2019 and is not bringing anything to market until liquidity returns [46][47] Question: How do you expect operating expenses to trend? - Operating expenses are expected to decline due to fewer people in buildings, but specific numbers are not overly material [52] Question: What are your thoughts on future space needs from tenants? - Government tenants may need to rethink utilization rates, but overall, most employees prefer returning to the office [54] Question: Are you seeing any stressed owners of assets? - There are distressed owners looking to sell, but pricing has not yet capitulated [60][61] Question: What is the status of your top tenant, Tailor Brands? - The company agreed to defer rent for Tailor Brands for two months [68][70] Question: Any indications of non-renewals from tenants? - A few tenants are expected to vacate, representing about 60 basis points of annualized rent, with some at risk [73]

Office Properties Income Trust | --- | --- | --- | --- | |---------------------------------------|----------------------------------------------------------------------|-------------------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Atlantic Corporate Park, Sterling, VA | Primary Tenant: GSA - Bureau of Safety and Environmental Enforcement | | | | Two Buildings, Square Feet: 220,995 | | | | | | Fir ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or Table of Contents ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-34364 OFFICE PROPERTIES INCOME TRUST (Exact Name of Registrant as Specified in Its Charter) Maryland 26-4273474 (State of Organization) (IRS Employer Identificati ...

Office Properties Income Trust (NASDAQ:OPI) Q4 2019 Earnings Conference Call February 20, 2020 10:00 AM ET Company Participants Olivia Snyder - Manager of Investor Relations David Blackman - President, Chief Executive Officer and Managing Trustee Christopher Bilotto - Vice President Matthew Brown - Chief Financial Officer and Treasurer Conference Call Participants Adam Gabalski - Morgan Stanley Bryan Maher - B. Riley FBR, Inc. Operator Good day, and welcome to the Office Properties Income Trust Fourth Quart ...

Office Properties Income Trust Tenant: Emory University 12 Executive Park Drive, Atlanta, GA One Building, Square Feet: 125,788 OFFICE PROPERTIES Nasdag Listed Fourth Quarter 2019 Supplemental Operating and Financial Data All amounts in this report are unaudited. TABLE OF CONTENTS INCOME TRUST TABLE OF CONTENTS | --- | --- | --- | |------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...