ILPT is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management
that is focused on commercial real estate and related businesses. RMR primarily provides
management services to publicly traded real estate companies, privately held real estate funds and
real estate related operating businesses. As of June 30, 2023, RMR had approximately $36 billion of real estate assets under management and the combined RMR managed companies had more than $5 billion of
annual revenues, over 2,000 properties and more than 20,000 employees. We believe that being
managed by RMR is a competitive advantage for ILPT because of RMR’s depth of management and
experience in the real estate industry. We also believe RMR provides management services to us at a
lower cost than we would have to pay for similar quality services if we were self managed.