Office Properties Income Trust · OTC:OPITQ
Office Properties Income Trust — Q1 2026 Earnings Presentation
23 slides from Office Properties Income Trust's earnings presentation, Jun 4, 2026
Slide 1: Supplemental Information
Supplemental Information June 4, 2026 Exhibit 99.1
Slide 2: Table of Contents
Q1 2026 2 Table of Contents PORTFOLIO INFORMATION Summary Same Property Results................................................................................................................................................ 4 Occupancy and Leasing Summary.............................................
Slide 3: Portfolio Information
RETURN TO TABLE OF CONTENTS Q1 2026 3 Portfolio Information
Slide 4: Summary Same Property Results
RETURN TO TABLE OF CONTENTS Q1 2026 4 For the Three Months Ended 3/31/2026 3/31/2025 Properties (end of period) 117 117 Rentable sq. ft. 16,350 16,355 Percent leased 81.3% 85.4% Rental income $ 99,742 $ 103,899 Same Property NOI $ 55,398 $ 60,482 Same Property Cash Basis NOI $ 52,646 $ 52,904 Same P
Slide 5: Occupancy and Leasing Summary
RETURN TO TABLE OF CONTENTS Q1 2026 5 As of and for the Three Months Ended 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 Properties (end of period) 122 122 124 125 125 Rentable sq. ft. 17,113 17,113 17,214 17,270 17,274 Percentage leased 78.2% 78.2% 78.3% 81.2% 81.3% Leasing Activity (Sq. Ft.):
Slide 6: Tenant Diversity and Credit Characteristics
RETURN TO TABLE OF CONTENTS Q1 2026 6 Investment Grade 60.1% Not Rated 33.0% Non-Investment Grade 6.9% Percentage of Total Annualized Rental Income Tenant Credit Characteristics ( 4 ) (3) Tenant Industry Tenant Diversity and Credit Characteristics As of March 31, 2026 U.S. Government: 17.5% Technolo
Slide 7: Tenants Representing 1% or More of Total Annualized Rental Income
RETURN TO TABLE OF CONTENTS Q1 2026 7 Tenant Credit Rating Sq. Ft. % of Leased Sq. Ft. Annualized Rental Income % of Total Annualized Rental Income 1 U.S. Government Investment Grade 2,415 18.1% $ 67,840 17.5% 2 Alphabet Inc. (Google) Investment Grade 386 2.9% 21,753 5.6% 3 IG Investments Holdings L
Slide 8: Lease Expiration Schedule
RETURN TO TABLE OF CONTENTS Q1 2026 8 Year (1) Number of Leases Expiring Leased Square Feet Expiring % of Total Leased Square Feet Expiring Cumulative % of Total Leased Square Feet Expiring Annualized Rental Income Expiring % of Total Annualized Rental Income Expiring Cumulative % of Total Annualize
Slide 9: Capital Expenditures Summary
RETURN TO TABLE OF CONTENTS Q1 2026 9 For the Three Months Ended 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 Lease related costs $ 8,458 $ 15,624 $ 4,257 $ 8,830 $ 10,727 Building improvements 2,350 2,292 3,922 4,327 3,011 Recurring capital expenditures 10,808 17,916 8,179 13,157 13,738 Devel
Slide 10: Property Dispositions
RETURN TO TABLE OF CONTENTS Q1 2026 10 Dispositions: Date Sold Location Number of Properties Sq. Ft. Gross Sales Price Gross Sales Price Per Sq. Ft. 7/8/2025 Detroit, MI 1 56 $ 2,150 $ 38.39 12/19/2025 Tempe, AZ 2 101 11,038 109.29 Total 3 157 $ 13,188 $ 84.00 Property Dispositions Since July 1, 202
Slide 11: Investment in Unconsolidated Joint Venture
RETURN TO TABLE OF CONTENTS Q1 2026 11 Unconsolidated Joint Venture: Joint Venture OPI Ownership OPI Investment Number of Properties Location Sq. Ft. Occupancy Weighted Average Remaining Lease Term (1) Prosperity Metro Plaza 51% $ 17,075 2 Fairfax, VA 346 89.8% 4.6 years (1) Lease term is weighted b
Slide 12: Appendix
RETURN TO TABLE OF CONTENTS Q1 2026 12 Appendix
Slide 13: Calculation and Reconciliation of NOI and Cash Basis NOI
RETURN TO TABLE OF CONTENTS Q1 2026 13 For the Three Months Ended 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 Calculation of NOI and Cash Basis NOI: Rental income $ 108,868 $ 105,315 $ 109,127 $ 114,499 $ 113,615 Property operating expenses (52,455) (43,980) (52,105) (49,031) (52,230) NOI 56,
Slide 14: Reconciliation and Calculation of Same Property NOI and Cash Basis NOI
RETURN TO TABLE OF CONTENTS Q1 2026 14 For the Three Months Ended 3/31/2026 3/31/2025 Reconciliation of NOI to Same Property NOI: Rental income $ 108,868 $ 113,615 Property operating expenses (52,455) (52,230) NOI 56,413 61,385 Less: NOI of properties not included in same property results (1,015) (9
Slide 15: Property Detail (by Collateral Pool)
RETURN TO TABLE OF CONTENTS Q1 2026 15 Property Detail (by Collateral Pool) As of March 31, 2026 (dollars and sq. ft. in thousands) Number of Properties Sq. Ft. Sq. Ft. Expiring Through December 31st, 2026 Occupancy Weighted Average Remaining Lease Term Annualized Rental Income Trailing Twelve Month
Slide 16: Property Detail: $445M Senior Notes due 2027
RETURN TO TABLE OF CONTENTS Q1 2026 16 Property Detail (by Collateral Pool) As of March 31, 2026 (dollars and sq. ft. in thousands) Number of Properties Sq. Ft. Sq. Ft. Expiring Through December 31st, 2026 Occupancy Weighted Average Remaining Lease Term Annualized Rental Income Trailing Twelve Month
Slide 17: Property Detail: $445M Senior Notes due 2027 - Continued
RETURN TO TABLE OF CONTENTS Q1 2026 17 Property Detail (by Collateral Pool) As of March 31, 2026 (dollars and sq. ft. in thousands) Number of Properties Sq. Ft. Sq. Ft. Expiring Through December 31st, 2026 Occupancy Weighted Average Remaining Lease Term Annualized Rental Income Trailing Twelve Month
Slide 18: Property Detail: $300M Senior Notes due 2029
RETURN TO TABLE OF CONTENTS Q1 2026 18 Property Detail (by Collateral Pool) As of March 31, 2026 (dollars and sq. ft. in thousands) Number of Properties Sq. Ft. Sq. Ft. Expiring Through December 31st, 2026 Occupancy Weighted Average Remaining Lease Term Annualized Rental Income Trailing Twelve Month
Slide 19: Property Detail: $610M Senior Notes due 2029
RETURN TO TABLE OF CONTENTS Q1 2026 19 Property Detail (by Collateral Pool) As of March 31, 2026 (dollars and sq. ft. in thousands) Number of Properties Sq. Ft. Sq. Ft. Expiring Through December 31st, 2026 Occupancy Weighted Average Remaining Lease Term Annualized Rental Income Trailing Twelve Month
Slide 20: Property Detail: Mortgage Notes
RETURN TO TABLE OF CONTENTS Q1 2026 20 Property Detail (by Collateral Pool) As of March 31, 2026 (dollars and sq. ft. in thousands) Number of Properties Sq. Ft. Sq. Ft. Expiring Through December 31st, 2026 Occupancy Weighted Average Remaining Lease Term Annualized Rental Income Trailing Twelve Month
Slide 21: Property Detail: Debtor-in-Possession Financing Collateral
RETURN TO TABLE OF CONTENTS Q1 2026 21 Property Detail (by Collateral Pool) As of March 31, 2026 (dollars and sq. ft. in thousands) Number of Properties Sq. Ft. Sq. Ft. Expiring Through December 31st, 2026 Occupancy Weighted Average Remaining Lease Term Annualized Rental Income Trailing Twelve Month
Slide 22: Non-GAAP Financial Measures and Certain Definitions
RETURN TO TABLE OF CONTENTS Q1 2026 22 Non-GAAP Financial Measures OPI presents certain “non-GAAP financial measures” within the meaning of the applicable rules of the Securities and Exchange Commission, or the SEC, including NOI, Cash Basis NOI, Same Property NOI and Same Property Cash Basis NOI. T
Slide 23: Warning Concerning Forward-Looking Statements
RETURN TO TABLE OF CONTENTS Q1 2026 23 Warning Concerning Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws that are subject to risks and uncertainties. These statement
Office Properties Income Trust — Q1 2026 Earnings Presentation on 6ix