Service Properties Trust entered into an underwriting agreement for a public offering of 416,666,667 common shares of beneficial interest at a public offering price of $1.20 per share, aiming for aggregate gross proceeds of $500,000,000. The company granted the underwriters an option to purchase up to an additional 62,500,000 common shares from the company, at the public offering price less the underwriting discount, within 30 days from the date of the Underwriting Agreement. Net proceeds from the offering, after deducting underwriting discount and estimated offering expenses, together with cash on hand, are expected to redeem $100 million principal amount of outstanding 4.95% Senior Notes due 2027 and $370 million of the $450 million aggregate principal amount of outstanding 5.50% Senior Notes due 2027, assuming the underwriters do not exercise their option. If the underwriters exercise their option in full, additional net proceeds will be used to redeem additional principal amount of the 5.50% Senior Notes due 2027. Helix Partners, The RMR Group LLC (the company's manager), YA II PN, Ltd. (an affiliate of Yorkville Securities, LLC), and another institutional investor have agreed to purchase a total of 172,366,665 common shares from the underwriters at the public offering price. Christopher J. Bilotto (Managing Trustee, President and CEO), Brian E. Donley (Chief Financial Officer and Treasurer), and certain other Trustees have also agreed to purchase an aggregate of 248,333 common shares at the public offering price. The company filed Articles of Amendment to its Amended and Restated Declaration of Trust, increasing the number of authorized common shares from 200 million to 900 million, effective March 30, 2026.