The RMR Group (RMR) investor relations material

Executive summary

• Fiscal Q3 2026 results met expectations, with distributable earnings of $0.48 per share and adjusted EBITDA of $19.7 million, reflecting stable performance amid economic and geopolitical uncertainty.

• Managed REITs DHC and ILPT delivered strong shareholder returns and are among the best-performing REITs in the U.S. over the past three years.

• SVC improved liquidity via $1 billion in hotel sales and $575 million in new equity; OPI completed restructuring and remains a client.

• Celebrated 40th anniversary, managing over $37 billion in assets with a nationwide presence and 40 years of experience.

• Revenue for the quarter ended June 30, 2026, was $153.5 million, down 0.8% year-over-year, with net income attributable to shareholders of $3.2 million, a 23.6% decrease from the prior year quarter.

Financial highlights

• Adjusted EBITDA for Q3 was $19.7 million; distributable earnings were $0.48 per share, both in line with guidance.

• Recurring service revenues reached $45.5 million, up $3.5 million sequentially, driven by higher enterprise values and acquisition fees.

• Net income for the quarter was $7.4 million, with a net income margin of 16.2%.

• Quarterly dividend declared at $0.45 per share, with a payout ratio of 66.7%.

• EPS for the quarter was $0.18 (basic and diluted), compared to $0.25 in the prior year quarter.

Outlook and guidance

• Next quarter, recurring service revenues expected to remain around $45 million; adjusted EBITDA guidance is $19–$21 million, and distributable earnings projected at $0.48–$0.50 per share.

• Full-year adjusted EBITDA expected at $76.5–$78.5 million, excluding incentive fees.

• Management expects to continue investing in private capital initiatives and expanding capital formation capabilities.

• Private capital fundraising remains challenging, but management views headwinds as temporary and continues to invest in this initiative.

• Liquidity remains strong with $58.2 million in cash and cash equivalents as of June 30, 2026.