Office Properties Income Trust (Nasdaq:OPI) today announced that it has priced an underwritten public offering of $350 million of 2.400% senior notes due 2027 (“Notes”). The settlement of this offering is expected to occur on August 13, 2021, subject to customary closing conditions.

OPI expects to use the net proceeds from this offering for general business purposes, which may include repaying amounts outstanding under its revolving credit facility and/or redeeming the $300.0 million principal amount outstanding of its 4.15% Senior Notes due 2022 and/or the $300.0 million principal amount outstanding of its 4.00% Senior Notes due 2022.

The joint book-running managers for this offering are BofA Securities, Inc., PNC Capital Markets LLC, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., RBC Capital Markets, LLC and U.S. Bancorp Investments, Inc. The joint lead managers for this offering are BMO Capital Markets Corp., Mizuho Securities USA LLC, Regions Securities LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc. The co-managers for this offering are Barclays Capital Inc., FHN Financial Securities Corp., Morgan Stanley & Co. LLC, Samuel A. Ramirez & Company, Inc. and UBS Securities LLC.

This offering is being made pursuant to an effective shelf registration statement and prospectus and a related preliminary prospectus supplement filed by OPI with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. Copies of the prospectus supplement relating to this offering and the related prospectus may be obtained by contacting the offices of: BofA Securities, Inc. toll-free at 1-800-294-1322, PNC Capital Markets LLC toll-free at 1-855-881-0697, or Wells Fargo Securities, LLC toll-free at 1-800-645-3751.

Office Properties Income Trust is a real estate investment trust, or REIT, focused on owning, operating and leasing properties primarily leased to single tenants and those with high credit quality characteristics such as government entities. OPI is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq:RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.

Warning Concerning Forward-Looking Statements

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever OPI uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, OPI is making forward-looking statements. These forward-looking statements are based upon OPI’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by OPI’s forward-looking statements as a result of various factors. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond OPI's control. For example:

• This press release states that the closing of the Notes offering is expected to occur on August 13, 2021. The closing of this offering is subject to various conditions and contingencies as are customary in underwriting agreements in the United States. If these conditions are not satisfied or the specified contingencies do not occur, this offering may not close.
• OPI’s current intent is to use the proceeds from the Notes offering for general business purposes, which may include repaying amounts outstanding under its revolving credit facility and/or redeeming the $300.0 million principal amount outstanding of its 4.15% Senior Notes due 2022 and/or the $300.0 million principal amount outstanding of its 4.00% Senior Notes due 2022. The receipt and use of the proceeds is dependent on the closing of this offering and may not occur.

The information contained in OPI’s filings with the SEC, including under “Risk Factors” in OPI’s periodic reports, or incorporated therein, identifies other important factors that could cause OPI’s actual results to differ materially from those stated in or implied by OPI’s forward-looking statements. OPI’s filings with the SEC are available on the SEC's website at www.sec.gov.

You should not place undue reliance upon forward-looking statements.

Except as required by law, OPI does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.

No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

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