Service Properties Trust (SVC) Proxy Filing summary

Executive summary

• Portfolio repositioned by selling 112 hotels for $859M, focusing on majority net lease REIT strategy and acquiring 29 retail properties for $95M.

• Addressed all $800M of 2026 debt maturities and partially redeemed 2027 maturities, improving financial flexibility.

• Ended 2025 with 760 retail properties (96.6% leased, 7.4-year average lease term) and 94 hotels, maintaining ample liquidity and no debt maturities until 2027.

• Appointed Chris Bilotto as Managing Trustee, President, and CEO.

• Continued focus on portfolio optimization, disciplined capital allocation, and operational improvements for 2026.

Voting matters and shareholder proposals

• Shareholders to vote on election of seven trustee nominees, advisory approval of executive compensation, and ratification of Deloitte & Touche LLP as independent auditors for 2026.

• Proxy access bylaw allows groups owning at least 3% of shares for three years to nominate up to 20% of the board.

• Deadlines for 2027 shareholder proposals and nominations set for November 17, 2026.

Board of directors and corporate governance

• Board consists of seven members: five independent trustees and two managing trustees.

• Annual shareholder outreach covers ~60% of shares; board refreshment and diversity prioritized.

• All trustees stand for annual election; no dual class structure; one vote per share.

• Lead Independent Trustee role with robust responsibilities; all committees comprised solely of independent trustees.

• Code of Business Conduct and Ethics, insider trading policy, and prohibition on hedging in place.