Service Properties Trust Amends $1.4 Billion Credit Agreement

Obtains Waivers of Certain Financial Covenants through March 31, 2021

Service Properties Trust SVC today announced that it has amended the credit agreement governing its $1 billion unsecured revolving credit facility and $400 million unsecured term loan. The amendment provides for a waiver of certain of the financial covenants under its credit agreement through March 31, 2021, during which, subject to certain conditions, SVC will continue to have access to undrawn amounts under the credit facility. In return for temporary covenant relief and continued access to undrawn amounts under its credit facility, SVC agreed to the following temporary changes to its credit facility through March 31, 2021:

• The interest rate premium over LIBOR under its revolving credit facility and term loan will be increased by 50 basis points;
• Pledges of equity interests of subsidiaries owning properties with up to $3.2 billion of unencumbered gross asset value as of March 31, 2020;
• Required to maintain minimum unrestricted liquidity of $125 million (unrestricted cash or undrawn availability under its $1 billion revolving credit facility);
• Certain additional covenants, including additional restrictions on SVC's ability to incur indebtedness (with exceptions for borrowings under its revolving credit facility and certain other categories of secured and unsecured indebtedness), and to acquire real property or make other investments (with exceptions for, among other things, certain categories of capital expenditures and costs, and certain share purchases);
• Distributions on SVC's common shares will be limited to amounts required to maintain its qualification for taxation as a real estate investment trust, or REIT, and to avoid the payment of certain income and excise taxes, and to pay a cash dividend of $.01 per common share per quarter; and
• SVC will generally be required to apply the net cash proceeds from the disposition of assets, capital markets transactions, debt refinancings or COVID-19 government stimulus programs to the repayment of outstanding loans under the credit agreement.

Wells Fargo Securities, LLC, BofA Securities, Inc., PNC Capital Markets, LLC and RBC Capital Markets acted as Joint Lead Arrangers and Joint Lead Bookrunners on the amendment to SVC's credit agreement. Wells Fargo Bank, National Association is the Administrative Agent. Bank of America, N.A., PNC Bank, National Association and Royal Bank of Canada are the Syndication Agents.

John Murray, President and Chief Executive Officer of SVC, made the following statement:

"We very much appreciate the efforts of our participating lenders who worked with us to execute this amendment, which enhances our financial flexibility. This amendment assures our continued access to undrawn amounts under our credit facility and we believe provides us sufficient liquidity to fund our ongoing capital requirements through at least the end of 2021. We also appreciate that many of the increased costs and restrictions that we agreed to as part of this amendment, including the higher interest rates, equity pledges and restrictions on activities, do not extend beyond the end of the waiver period on March 31, 2021."

About Service Properties Trust

Service Properties Trust is a REIT which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto Rico and Canada with 148 distinct brands across 23 industries. SVC's properties are operated under long term management or lease agreements. SVC is managed by the operating subsidiary of The RMR Group Inc. RMR, an alternative asset management company that is headquartered in Newton, Massachusetts.

WARNING REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based upon SVC's present beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond SVC's control. For example,

• Although SVC obtained a limited waiver of certain financial covenants through March 2021, it may fail to satisfy additional covenants contained in its credit agreement or fail to satisfy its public debt covenants. SVC's ability to borrow under its revolving credit facility is subject to SVC satisfying those covenants and other conditions. If SVC's operating results and financial condition are significantly and adversely impacted by current economic conditions or otherwise, SVC may fail to satisfy those covenants and conditions.
• Mr. Murray states the amendment provides SVC sufficient liquidity to fund its ongoing capital requirements through at least the end of 2021. However, SVC's capital requirements may exceed its current expectations. As a result, SVC may not have sufficient liquidity to fund its ongoing capital requirements.

The information contained in SVC's filings with the Securities and Exchange Commission, or SEC, including under the caption "Risk Factors" in SVC's periodic reports or incorporated therein, identifies important factors that could cause SVC's actual results to differ materially from those stated or implied by SVC's forward-looking statements. SVC's filings with the SEC are available at the SEC's website at www.sec.gov.

You should not place undue reliance upon forward-looking statements.

Except as required by law, SVC does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

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