Service Properties Trust (SVC) Proxy Filing summary

Executive summary

• Over $11 billion invested in hotels and service-focused retail net lease properties, with 206 hotels and 742 retail properties as of December 31, 2024.

• Proactively addressed $1.2 billion in 2025 debt maturities by issuing new unsecured notes and selling 25 properties for $105.9 million.

• Announced plans to sell 114 Sonesta-managed hotels in 2025, targeting $1 billion in proceeds to repay debt.

• Completed major renovations at 28 hotels, enhancing portfolio quality and market share.

• Achieved annual revenue growth in both lodging and net lease portfolios, ending 2024 with 97.6% leased retail properties and $650 million in liquidity.

Voting matters and shareholder proposals

• Shareholders will vote on: election of trustees, advisory approval of executive compensation, approval of the Second Amended and Restated 2012 Equity Compensation Plan, and ratification of Deloitte & Touche LLP as independent auditors.

• Shareholders of record as of March 18, 2025, are eligible to vote; the meeting will be held virtually on June 13, 2025.

• Proxy access and advance notice provisions for shareholder proposals and nominations are detailed, with deadlines for 2026 submissions.

Board of directors and corporate governance

• Board refreshment since 2020 added three new Independent Trustees; post-2025 meeting, 71% of the Board will be independent.

• Board declassified so all Trustees stand for annual election; proxy access bylaw adopted.

• Board diversity: 29% women, 43% underrepresented communities among Trustees.

• Lead Independent Trustee role established with robust responsibilities.

• Board committees (Audit, Compensation, Nominating and Governance) are composed solely of Independent Trustees.