Service Properties Trust

Real Estate Properties As of June 30, 2026, we owned 745 service-focused retail net lease properties with an aggregate of 13,553,509 square feet that are primarily subject to triple net leases, or net leases where the tenant is generally responsible for payment of operating expenses and capital expenditures of the property during the lease term, and 93 hotels with an aggregate of 21,110 rooms or suites.

SEC original ↗Service Properties Trust — 10-Q Quarterly report10-QAug 5, 2026

14 Table of Contents SERVICE PROPERTIES TRUST NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued) (dollars in thousands, except per share amounts) (unaudited) Our Sonesta agreements require us to fund capital expenditures made at our hotels.

SEC original ↗Service Properties Trust — 10-Q Quarterly report10-QAug 5, 2026

We incurred capital expenditures for hotels included in our Sonesta agreements in an aggregate amount of $ 25,203 and $ 37,246 during the three months ended June 30, 2026 and 2025, respectively, and $ 43,900 and $ 78,807 during the six months ended June 30, 2026 and 2025, respectively.

SEC original ↗Service Properties Trust — 10-Q Quarterly report10-QAug 5, 2026

We owed Sonesta $ 7,790 and $ 39,509 for capital expenditures and other reimbursements at June 30, 2026 and December 31, 2025, respectively.

SEC original ↗Service Properties Trust — 10-Q Quarterly report10-QAug 5, 2026

Our legacy Sonesta agreement requires that 5 % of the hotel gross revenues be escrowed for future capital expenditures as FF&E reserves, subject to available cash flows after payment of the owner s priority returns due to us.

SEC original ↗Service Properties Trust — 10-Q Quarterly report10-QAug 5, 2026

We did not incur capital expenditures for hotels included in our Hyatt agreement during the three months ended June 30, 2026.

SEC original ↗Service Properties Trust — 10-Q Quarterly report10-QAug 5, 2026

The sales of these properties, as presented in the table below, do not represent a strategic shift in our business.

SEC original ↗Service Properties Trust — 10-Q Quarterly report10-QAug 5, 2026

Prior to August 1, 2025, all of the hotels managed by Sonesta were managed pursuant to a management agreement that was scheduled to expire on January 31, 2037, or the legacy Sonesta agreement, and provided that we would be paid an annual owner s priority return if gross revenues of the hotels, after payment of hotel operating expenses and management and related fees (other than Sonesta s incentive fee, if applicable), were sufficient to do so.

SEC original ↗Service Properties Trust — 10-Q Quarterly report10-QAug 5, 2026

The legacy Sonesta agreement further provided that we would be paid an additional return equal to 80 % of the operating profits, as defined therein, after paying the owner s priority return, reimbursing owner or manager advances, funding reserves established for the regular refurbishment of our hotels, or FF&E reserves, and paying Sonesta s incentive fee, if any.

SEC original ↗Service Properties Trust — 10-Q Quarterly report10-QAug 5, 2026

Our legacy Sonesta agreement requires that 5 % of the hotel gross revenues be escrowed for future capital expenditures as FF&E reserves, subject to available cash flows after payment of the owner s priority returns due to us.

SEC original ↗Service Properties Trust — 10-Q Quarterly report10-QAug 5, 2026

Hyatt Agreement As of June 30, 2026, Hyatt managed 17 of our select service hotels pursuant to a portfolio management agreement that expires on March 31, 2031, or our Hyatt agreement, and provides that, as of June 30, 2026, we are to be paid an annual owner s priority return of $ 17,400 .

SEC original ↗Service Properties Trust — 10-Q Quarterly report10-QAug 5, 2026