Industrial Logistics Properties Trust - FORM 8-K - EX-99.2 - EXHIBIT 99.2

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EX-99.1 - EXHIBIT 99.1 - Industrial Logistics Properties Trust	ilpt_exhibit991x33118.htm
8-K - 8-K - Industrial Logistics Properties Trust	ilpt_33118x8-kxdocument.htm

1 7958 South Chester Street, Centennial, CO Square Feet: 167,917 United Launch Alliance Corporate Headquarters First Quarter 2018 Supplemental Operating and Financial Data Industrial Logistics Properties Trust Exhibit 99.2 510 John Dodd Road, Spartanburg, SC Square Feet: 1,015,740 Tenant: Amazon.com.dedc, LLC All amounts in this report are unaudited.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 2 TABLE OF CONTENT S PAGE/ EXHIBIT CORPORATE INFORMATION Company Profile 7 Investor Information 8 Research Coverage 9 FINANCIALS Key Financial Data 11 Condensed Consolidated Balance Sheets 12 Condensed Consolidated Statements of Income 13 Condensed Consolidated Statements of Cash Flows 14 Debt Summary 16 Debt Maturity Schedule 17 Leverage Ratios and Coverage Ratios 18 Capital Expenditures Summary 19 Property Acquisitions and Dispositions Information Since 1/1/18 20 Calculation of Property Net Operating Income (NOI) and Cash Basis NOI 21 Calculation of EBITDA and Adjusted EBITDA 22 Calculation of Funds from Operations (FFO) and Normalized FFO 23 Definitions of Certain Non-GAAP Financial Measures 24 PORTFOLIO INFORMATION Portfolio Summary by Property Type 26 Property Results of Operations by Property Type 27 Leasing Summary 29 Occupancy and Leasing Analysis by Property Type 30 Tenant Credit Characteristics 31 Tenants Representing 1% or More of Total Annualized Rental Revenues 32 Three Year Lease Expiration Schedule by Property Type 33 Portfolio Lease Expiration Schedule 34 Hawaii Land Rent Reset Summary 35 EXHIBIT A Property Detail 37 Industrial Logistics Properties Trust, or ILPT, we, our or us, was formed in 2017 as a wholly owned subsidiary of Select Income REIT, or SIR. On January 17, 2018, we sold approximately 30.8% of our common shares in an initial public offering, or the IPO, and became a separate public company. SIR currently owns 69.2% of our outstanding common shares. For periods prior to January 17, 2018, our historical results of operations and financial position relate to the 266 properties SIR contributed to us in connection with our formation and have been derived from the financial statements of SIR. These historical results of operations and financial position include certain expenses that we did not directly incur but which were allocated to us when we were a wholly owned subsidiary of SIR and may not reflect what our results of operations and financial position would have been if we had operated as a separate public company. TABLE OF CONTENTS

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 3 W ARNING CONCERNING FO RW ARD LOOKING S TA TEMENT S THIS PRESENTATION OF SUPPLEMENTAL OPERATING AND FINANCIAL DATA CONTAINS STATEMENTS THAT CONSTITUTE FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. ALSO, WHENEVER WE USE WORDS SUCH AS “BELIEVE”, “EXPECT”, “ANTICIPATE”, “INTEND”, “PLAN”, “ESTIMATE”, “WILL”, “MAY” AND NEGATIVES OR DERIVATIVES OF THESE OR SIMILAR EXPRESSIONS, WE ARE MAKING FORWARD LOOKING STATEMENTS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON OUR PRESENT INTENT, BELIEFS OR EXPECTATIONS, BUT FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR. FORWARD LOOKING STATEMENTS IN THIS REPORT RELATE TO VARIOUS ASPECTS OF OUR BUSINESS, INCLUDING: • THE LIKELIHOOD THAT OUR TENANTS WILL PAY RENT OR BE NEGATIVELY AFFECTED BY CYCLICAL ECONOMIC CONDITIONS, • THE LIKELIHOOD THAT OUR TENANTS WILL RENEW OR EXTEND THEIR LEASES OR THAT WE WILL BE ABLE TO OBTAIN REPLACEMENT TENANTS, • OUR ACQUISITIONS OF PROPERTIES, • OUR ABILITY TO COMPETE FOR ACQUISITIONS AND TENANCIES EFFECTIVELY, • THE LIKELIHOOD THAT OUR RENTS WILL INCREASE WHEN WE RENEW OR EXTEND OUR LEASES, WHEN WE ENTER NEW LEASES, OR WHEN OUR RENTS RESET AT OUR HAWAII PROPERTIES, • OUR ABILITY TO PAY DISTRIBUTIONS TO OUR SHAREHOLDERS AND TO SUSTAIN THE AMOUNT OF SUCH DISTRIBUTIONS, • THE FUTURE AVAILABILITY OF BORROWINGS UNDER OUR REVOLVING CREDIT FACILITY, • OUR POLICIES AND PLANS REGARDING INVESTMENTS, FINANCINGS AND DISPOSITIONS, • OUR ABILITY TO RAISE DEBT OR EQUITY CAPITAL, • OUR ABILITY TO PAY INTEREST ON AND PRINCIPAL OF OUR DEBT, • OUR ABILITY TO APPROPRIATELY BALANCE OUR USE OF DEBT AND EQUITY CAPITAL, • CHANGES IN THE SECURITY OF CASH FLOWS FROM OUR PROPERTIES, • OUR CREDIT RATINGS, • OUR EXPECTATION THAT WE BENEFIT FROM OUR RELATIONSHIPS WITH THE RMR GROUP INC., OR RMR INC., • OUR QUALIFICATION FOR TAXATION AS A REAL ESTATE INVESTMENT TRUST, OR REIT, • CHANGES IN FEDERAL OR STATE TAX LAWS, • CHANGES IN REAL ESTATE AND ZONING LAWS AND REGULATIONS, AND INTERPRETATIONS OF THOSE LAWS AND REGULATIONS, APPLICABLE TO OUR PROPERTIES, • THE CREDIT QUALITIES OF OUR TENANTS, • CHANGES IN ENVIRONMENTAL LAWS OR IN THEIR INTERPRETATIONS OR ENFORCEMENT AS A RESULT OF CLIMATE CHANGE OR OTHERWISE, • OUR SALES OF PROPERTIES, AND • OTHER MATTERS. OUR ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTAINED IN OR IMPLIED BY OUR FORWARD LOOKING STATEMENTS AS A RESULT OF VARIOUS FACTORS. FACTORS THAT COULD HAVE A MATERIAL ADVERSE EFFECT ON OUR FORWARD LOOKING STATEMENTS AND UPON OUR BUSINESS, RESULTS OF OPERATIONS, FINANCIAL CONDITION, FUNDS FROM OPERATIONS, OR FFO, NORMALIZED FUNDS FROM OPERATIONS, OR NORMALIZED FFO, NET OPERATING INCOME, OR NOI, CASH BASIS NOI, EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTIZATION, OR EBITDA, EBITDA AS ADJUSTED, OR ADJUSTED EBITDA, CASH FLOWS, LIQUIDITY AND PROSPECTS INCLUDE, BUT ARE NOT LIMITED TO: • THE IMPACT OF CONDITIONS AND CHANGES IN THE ECONOMY AND THE CAPITAL MARKETS ON US AND OUR TENANTS, • COMPETITION WITHIN THE REAL ESTATE INDUSTRY, PARTICULARLY IN THOSE MARKETS IN WHICH OUR PROPERTIES ARE LOCATED, • COMPLIANCE WITH, AND CHANGES TO, FEDERAL, STATE AND LOCAL LAWS AND REGULATIONS, ACCOUNTING RULES, TAX LAWS AND SIMILAR MATTERS, WARNING CONCERNING FORWARD LOOKING STATEMENTS

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 4 W ARNING CONCERNING FO RW ARD LOOKING S TA TEMENTS (CONTINUED ) • LIMITATIONS IMPOSED ON OUR BUSINESS AND OUR ABILITY TO SATISFY COMPLEX RULES IN ORDER FOR US TO QUALIFY FOR TAXATION AS A REIT FOR U.S. FEDERAL INCOME TAX PURPOSES, • ACTUAL AND POTENTIAL CONFLICTS OF INTEREST WITH OUR RELATED PARTIES, INCLUDING OUR MANAGING TRUSTEES, THE RMR GROUP LLC, OR RMR LLC, RMR INC., SIR AND OTHERS AFFILIATED WITH THEM, AND • ACTS OF TERRORISM, OUTBREAKS OF SO CALLED PANDEMICS OR OTHER MANMADE OR NATURAL DISASTERS BEYOND OUR CONTROL. FOR EXAMPLE: • OUR ABILITY TO MAKE FUTURE DISTRIBUTIONS TO OUR SHAREHOLDERS AND TO MAKE PAYMENTS OF PRINCIPAL AND INTEREST ON OUR INDEBTEDNESS DEPENDS UPON A NUMBER OF FACTORS, INCLUDING OUR FUTURE EARNINGS, THE CAPITAL COSTS WE INCUR TO LEASE OUR PROPERTIES AND OUR WORKING CAPITAL REQUIREMENTS. WE MAY BE UNABLE TO PAY OUR DEBT OBLIGATIONS OR TO MAKE OR SUSTAIN DISTRIBUTIONS ON OUR COMMON SHARES AND FUTURE DISTRIBUTIONS MAY BE REDUCED OR ELIMINATED, • OUR ABILITY TO GROW OUR BUSINESS AND INCREASE OUR DISTRIBUTIONS DEPENDS IN LARGE PART UPON OUR ABILITY TO BUY PROPERTIES AND LEASE THEM FOR RENTS, LESS THEIR PROPERTY OPERATING COSTS, THAT EXCEED OUR CAPITAL COSTS. WE MAY BE UNABLE TO IDENTIFY PROPERTIES THAT WE WANT TO ACQUIRE OR TO NEGOTIATE ACCEPTABLE PURCHASE PRICES, ACQUISITION FINANCING OR LEASE TERMS FOR NEW PROPERTIES, • CONTINGENCIES IN OUR ACQUISITION AND SALE AGREEMENTS MAY NOT BE SATISFIED AND ANY EXPECTED ACQUISITIONS AND SALES MAY NOT OCCUR, MAY BE DELAYED OR THE TERMS OF SUCH TRANSACTIONS MAY CHANGE, • RENTS THAT WE CAN CHARGE AT OUR PROPERTIES MAY DECLINE BECAUSE OF CHANGING MARKET CONDITIONS OR OTHERWISE, • MOST OF OUR HAWAII PROPERTIES ARE LANDS LEASED FOR RENTS THAT ARE PERIODICALLY RESET BASED ON THEN CURRENT FAIR MARKET VALUES. REVENUES FROM OUR PROPERTIES IN HAWAII HAVE GENERALLY INCREASED DURING OUR AND OUR PREDECESSORS' OWNERSHIP AS THE LEASES FOR THOSE PROPERTIES HAVE BEEN RESET OR RENEWED. ALTHOUGH WE EXPECT THAT RENTS FOR OUR HAWAII PROPERTIES WILL INCREASE IN THE FUTURE, WE CANNOT BE SURE THEY WILL. FUTURE RENTS FROM THESE PROPERTIES COULD DECREASE OR NOT INCREASE TO THE EXTENT THEY HAVE IN THE PAST, • OUR POSSIBLE REDEVELOPMENT OF CERTAIN OF OUR PROPERTIES MAY NOT BE REALIZED OR BE SUCCESSFUL, • OUR LEASING RELATED OBLIGATIONS MAY COST MORE OR LESS AND MAY TAKE LONGER TO COMPLETE THAN WE EXPECT, AND OUR LEASING RELATED OBLIGATIONS MAY INCREASE IN THE FUTURE, • THE UNEMPLOYMENT RATE OR ECONOMIC CONDITIONS IN AREAS WHERE OUR PROPERTIES ARE LOCATED MAY BECOME WORSE IN THE FUTURE. SUCH CIRCUMSTANCES OR OTHER CONDITIONS MAY REDUCE DEMAND FOR LEASING INDUSTRIAL SPACE. IF THE DEMAND FOR LEASING INDUSTRIAL SPACE IS REDUCED, WE MAY BE UNABLE TO RENEW LEASES WITH OUR TENANTS AS LEASES EXPIRE OR ENTER INTO NEW LEASES AT RENTAL RATES AS HIGH AS EXPIRING RENTS AND OUR FINANCIAL RESULTS MAY DECLINE, • E-COMMERCE RETAIL SALES MAY NOT CONTINUE TO GROW AND INCREASE THE DEMAND FOR INDUSTRIAL AND LOGISTICS REAL ESTATE AS WE EXPECT, • INCREASING DEVELOPMENT OF INDUSTRIAL AND LOGISTICS PROPERTIES MAY REDUCE THE DEMAND FOR, AND OUR RENTS FROM, OUR PROPERTIES, • OUR BELIEF THAT THERE IS A LIKELIHOOD THAT TENANTS MAY RENEW OR EXTEND OUR LEASES WHEN THEY EXPIRE WHENEVER THEY HAVE MADE SIGNIFICANT INVESTMENTS IN THE LEASED PROPERTIES, OR BECAUSE THOSE PROPERTIES MAY BE OF STRATEGIC IMPORTANCE TO THEM, MAY NOT BE REALIZED, • SOME OF OUR TENANTS MAY NOT RENEW EXPIRING LEASES, AND WE MAY BE UNABLE TO OBTAIN NEW TENANTS TO MAINTAIN OR INCREASE THE HISTORICAL OCCUPANCY RATES OF, OR RENTS FROM, OUR PROPERTIES, • THE COMPETITIVE ADVANTAGES WE BELIEVE WE HAVE MAY NOT IN FACT PROVIDE US WITH THE ADVANTAGES WE EXPECT. WE MAY FAIL TO MAINTAIN THESE ADVANTAGES OR OUR COMPETITION MAY OBTAIN OR INCREASE THEIR COMPETITIVE ADVANTAGES RELATIVE TO US, • OUR INCREASED OPERATING EXPENSES AS A PUBLIC COMPANY MAY BE GREATER THAN WE EXPECT, • WE INTEND TO CONDUCT OUR BUSINESS ACTIVITIES IN A MANNER THAT WILL AFFORD US REASONABLE ACCESS TO CAPITAL FOR INVESTMENT AND FINANCING ACTIVITIES. HOWEVER, WE MAY NOT SUCCEED IN THIS REGARD AND WE MAY NOT HAVE REASONABLE ACCESS TO CAPITAL, WARNING CONCERNING FORWARD LOOKING STATEMENTS (CONTINUED)

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 5 W ARNING CONCERNING FO RW ARD LOOKING S TA TEMENTS (CONTINUED ) • CONTINUED AVAILABILITY OF BORROWINGS UNDER OUR REVOLVING CREDIT FACILITY IS SUBJECT TO OUR SATISFYING CERTAIN FINANCIAL COVENANTS AND OTHER CREDIT FACILITY CONDITIONS THAT WE MAY BE UNABLE TO SATISFY, • ACTUAL COSTS UNDER OUR REVOLVING CREDIT FACILITY WILL BE HIGHER THAN LIBOR PLUS A PREMIUM BECAUSE OF FEES AND EXPENSES ASSOCIATED WITH SUCH DEBT, • WE MAY BE UNABLE TO REPAY OUR DEBT OBLIGATIONS WHEN THEY BECOME DUE, • THE MAXIMUM BORROWING AVAILABILITY UNDER OUR REVOLVING CREDIT FACILITY MAY BE INCREASED TO UP TO $1.5 BILLION IN CERTAIN CIRCUMSTANCES; HOWEVER, INCREASING THE MAXIMUM BORROWING AVAILABILITY UNDER OUR REVOLVING CREDIT FACILITY IS SUBJECT TO OUR OBTAINING ADDITIONAL COMMITMENTS FROM LENDERS, WHICH MAY NOT OCCUR, • WE HAVE THE OPTION TO EXTEND THE MATURITY DATE OF OUR REVOLVING CREDIT FACILITY UPON PAYMENT OF A FEE AND MEETING OTHER CONDITIONS; HOWEVER, THE APPLICABLE CONDITIONS MAY NOT BE MET, • OUR RIGHT TO ELECT TO HAVE INTEREST PAYABLE UNDER OUR REVOLVING CREDIT FACILITY CALCULATED AS LIBOR PLUS A PREMIUM BASED ON OUR CREDIT RATING IS SUBJECT TO OUR OBTAINING AN INVESTMENT GRADE CREDIT RATING, WHICH WE MAY NOT OBTAIN, • THE BUSINESS AND PROPERTY MANAGEMENT AGREEMENTS BETWEEN US AND RMR LLC HAVE CONTINUING 20 YEAR TERMS. HOWEVER, THOSE AGREEMENTS PERMIT EARLY TERMINATION IN CERTAIN CIRCUMSTANCES. ACCORDINGLY, WE CANNOT BE SURE THAT THESE AGREEMENTS WILL REMAIN IN EFFECT FOR CONTINUING 20 YEAR TERMS, • WE BELIEVE THAT OUR RELATIONSHIPS WITH OUR RELATED PARTIES, INCLUDING RMR LLC, RMR INC., SIR AND OTHERS AFFILIATED WITH THEM MAY BENEFIT US AND PROVIDE US WITH COMPETITIVE ADVANTAGES IN OPERATING AND GROWING OUR BUSINESS. HOWEVER, THE ADVANTAGES WE BELIEVE WE MAY REALIZE FROM THESE RELATIONSHIPS MAY NOT MATERIALIZE, AND • THE PREMIUMS USED TO DETERMINE THE INTEREST RATE PAYABLE ON OUR REVOLVING CREDIT FACILITY AND THE UNUSED FEE PAYABLE ON OUR REVOLVING CREDIT FACILITY ARE BASED ON OUR LEVERAGE. FUTURE CHANGES IN OUR LEVERAGE MAY CAUSE THE INTEREST AND FEES WE PAY TO INCREASE. CURRENTLY UNEXPECTED RESULTS COULD OCCUR DUE TO MANY DIFFERENT CIRCUMSTANCES, SOME OF WHICH ARE BEYOND OUR CONTROL, SUCH AS ACTS OF TERRORISM, NATURAL DISASTERS, CHANGES IN OUR TENANTS’ FINANCIAL CONDITIONS, THE MARKET DEMAND FOR LEASED SPACE OR CHANGES IN CAPITAL MARKETS OR THE ECONOMY GENERALLY. THE INFORMATION CONTAINED IN OUR FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION, OR SEC, INCLUDING UNDER THE CAPTION "RISK FACTORS" IN OUR PERIODIC REPORTS, OR INCORPORATED THEREIN, IDENTIFIES OTHER IMPORTANT FACTORS THAT COULD CAUSE DIFFERENCES FROM OUR FORWARD LOOKING STATEMENTS. OUR FILINGS WITH THE SEC ARE AVAILABLE ON THE SEC’S WEBSITE AT WWW.SEC.GOV. YOU SHOULD NOT PLACE UNDUE RELIANCE UPON OUR FORWARD LOOKING STATEMENTS. EXCEPT AS REQUIRED BY LAW, WE DO NOT INTEND TO UPDATE OR CHANGE ANY FORWARD LOOKING STATEMENTS AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE. WARNING CONCERNING FORWARD LOOKING STATEMENTS (CONTINUED)

6 Former Damon Estate, Honolulu, HI 185 buildings, leasable land parcels and easements Approximate Square Feet: 9,600,000 CORPORATE INFORMATION 6

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 7 COM PAN Y PROFIL E Corporate Headquarters: Two Newton Place 255 Washington Street, Suite 300 Newton, MA 02458-1634 (t) (617) 219-1460 (f) (617) 219-1468 Stock Exchange Listing: Nasdaq Trading Symbol: Common Shares: ILPT The Company: ILPT is a real estate investment trust, or REIT, that owns and leases industrial and logistics properties throughout the United States. As of March 31, 2018, we owned 266 properties with approximately 28.5 million rentable square feet located in 25 states, including 226 buildings, leasable land parcels and easements with approximately 16.8 million rentable square feet that are primarily industrial lands located in Hawaii. COMPANY PROFILE Management: ILPT is managed by The RMR Group LLC, the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR). RMR is an alternative asset management company that was founded in 1986 to manage real estate companies and related businesses. RMR primarily provides management services to five publicly owned REITs and three real estate related operating businesses. In addition to managing ILPT, RMR manages Select Income REIT, a REIT that is focused on owning and investing in single tenant properties, Hospitality Properties Trust, a REIT that owns hotels and travel centers, Senior Housing Properties Trust, a REIT that primarily owns healthcare, senior living and medical office buildings, and Government Properties Income Trust, a REIT that primarily owns properties throughout the U.S. that are majority leased to the U.S. and state governments and office properties in the metropolitan Washington, D.C. area that are leased to government and private sector tenants. RMR also provides management services to TravelCenters of America LLC, a publicly traded operator of travel centers along the U.S. Interstate Highway System, convenience stores and restaurants, Five Star Senior Living Inc., a publicly traded operator of senior living communities, and Sonesta International Hotels Corporation, a privately owned franchisor and operator of hotels and cruise ships. RMR also manages publicly traded securities of real estate companies, a publicly traded mortgage REIT and private commercial real estate debt funds through wholly owned SEC registered investment advisory subsidiaries. As of March 31, 2018, RMR had $30.0 billion of real estate assets under management and the combined RMR managed companies had approximately $11 billion of annual revenues, over 1,700 properties and approximately 52,000 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 costs that are lower than we would have to pay for similar quality services. (1) Includes 226 buildings, leasable land parcels and easements with approximately 16.8 million square feet that are primarily industrial lands located in Hawaii. (2) See page 23 for the calculation of FFO and Normalized FFO and a reconciliation of net income determined in accordance with U.S. generally accepted accounting principles, or GAAP, to those amounts. Key Data (as of March 31, 2018): (dollars and sq. ft. in 000s) Total properties (1) 266 Total sq. ft. 28,540 Percent leased 99.9% Q1 2018 total revenues $ 40,605 Q1 2018 net income $ 19,232 Q1 2018 Normalized FFO (2) $ 26,105

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 8 INVES TOR INFORM ATIO N INVESTOR INFORMATION Board of Trustees Bruce M. Gans Lisa Harris Jones Joseph L. Morea Independent Trustee Independent Trustee Independent Trustee John C. Popeo Adam D. Portnoy Managing Trustee Managing Trustee Senior Management John C. Popeo Richard W. Siedel, Jr. President and Chief Operating Officer Chief Financial Officer and Treasurer Contact Information Investor Relations Inquiries Industrial Logistics Properties Trust Financial inquiries should be directed to Richard W. Siedel, Jr., Two Newton Place Chief Financial Officer and Treasurer, at (617) 219-1460 255 Washington Street, Suite 300 or rsiedel@ilptreit.com. Newton, MA 02458-1634 (t) (617) 219-1460 Investor and media inquiries should be directed to (f) (617) 219-1468 Olivia Snyder, Manager, Investor Relations, (e-mail) info@ilptreit.com at (617) 219-1489 or osnyder@ilptreit.com.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 9 RESEARCH COVERAG E RESEARCH COVERAGE Equity Research Coverage B.Riley FBR Bryan Maher (646) 885-5423 bmaher@brileyfbr.com Bank of America Merrill Lynch James Feldman (646) 855-5808 james.feldman@baml.com JMP Securities Mitch Germain (212) 906-3546 mgermain@jmpsecurities.com RBC Capital Markets Michael Carroll (440) 715-2649 michael.carroll@rbccm.com UBS Equities Nicholas Yulico (212) 713-3402 nick.yulico@ubs.com ILPT is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding ILPT’s performance made by these analysts do not represent opinions, forecasts or predictions of ILPT or its management. ILPT does not by its reference above imply its endorsement of or concurrence with any information, conclusions or recommendations provided by any of these analysts.

10 FINANCIALS 10 4000 Principio Parkway, North East, MD Square Feet: 1,194,744 Tenant: Restoration Hardware, Inc.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 11 KE Y FINANCIA L D AT A KEY FINANCIAL DATA (dollars in thousands, except per share data) As of and For the Three Months Ended 3/31/2018 12/31/2017 9/30/2017 6/30/2017 3/31/2017 Selected Balance Sheet Data: Total gross assets (1) $ 1,512,327 $ 1,486,297 $ 1,487,409 $ 1,477,278 $ 1,482,353 Total assets $ 1,433,235 $ 1,411,683 $ 1,417,238 $ 1,411,525 $ 1,420,977 Total liabilities $ 400,407 $ 849,475 $ 863,195 $ 106,137 $ 109,903 Total shareholders' equity $ 1,032,828 $ 562,208 $ 554,043 $ 1,305,388 $ 1,311,074 Selected Income Statement Data: Total revenues $ 40,605 $ 39,395 $ 39,066 $ 38,605 $ 39,440 Net income $ 19,232 $ 15,269 $ 22,903 $ 21,575 $ 20,356 NOI (2) $ 32,475 $ 32,031 $ 31,760 $ 31,565 $ 32,369 Adjusted EBITDA (3) $ 30,018 $ 21,975 $ 29,527 $ 29,282 $ 30,142 FFO (4) $ 26,105 $ 22,108 $ 29,713 $ 28,430 $ 27,167 Normalized FFO (4) $ 26,105 $ 21,205 $ 28,951 $ 28,711 $ 29,576 Per Common Share Data Post-IPO (5): Net income - basic and diluted $ 0.31 FFO - basic and diluted (4) $ 0.42 Normalized FFO - basic and diluted (4) $ 0.42 Dividends Paid (6) (1) Total gross assets is total assets plus accumulated depreciation. (2) See page 21 for the calculation of NOI and a reconciliation of net income determined in accordance with GAAP to that amount. (3) See page 22 for the calculation of Adjusted EBITDA and a reconciliation of net income determined in accordance with GAAP to that amount. (4) See page 23 for the calculation of FFO and Normalized FFO and a reconciliation of net income determined in accordance with GAAP to those amounts. (5) In connection with our formation in September 2017, SIR contributed to us substantially all of SIR's industrial and logistics properties located in Hawaii, totaling 226 buildings, leasable land parcels and easements, as well as 40 industrial and logistics buildings located in 24 other states (a combined 28,540,000 rentable square feet) and we issued a $750,000 demand note and 45,000,000 of our common shares to SIR. On January 17, 2018, we completed the IPO, in which we issued 20,000,000 of our common shares for net proceeds of $444,309 (after deducting the underwriting discounts and commissions and expenses). We used substantially all of the net proceeds from the IPO to reduce amounts outstanding under our revolving credit facility. (6) On April 19, 2018, we declared a prorated distribution of $0.27 per common share for the period from January 17, 2018 (the date we completed the IPO) through March 31, 2018, to shareholders of record on April 30, 2018. This prorated distribution is based upon a quarterly distribution of $0.33 per common share ($1.32 per common share per year). We expect to pay this distribution on or about May 14, 2018.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 12 CONDENSED CONSOLID ATED BALANCE SHEET S CONDENSED CONSOLIDATED BALANCE SHEETS March 31, December 31, 2018 2017 ASSETS Real estate properties: Land $ 642,706 $ 642,706 Buildings and improvements 701,433 700,896 1,344,139 1,343,602 Accumulated depreciation (79,092) (74,614) 1,265,047 1,268,988 Acquired real estate leases, net 76,475 79,103 Cash and cash equivalents 19,847 — Rents receivable, including straight line rents of $51,371 and $50,177, respectively, net of allowance for doubtful accounts of $659 and $1,241, respectively 52,787 51,672 Debt issuance costs, net 5,538 1,724 Deferred leasing costs, net 5,065 5,254 Due from related persons 4,133 — Other assets, net 4,343 4,942 Total assets $ 1,433,235 $ 1,411,683 LIABILITIES AND SHAREHOLDERS' EQUITY Revolving credit facility $ 302,000 $ 750,000 Mortgage note payable, net 49,369 49,427 Assumed real estate lease obligations, net 19,861 20,384 Accounts payable and other liabilities 11,056 11,082 Rents collected in advance 8,426 5,794 Security deposits 5,730 5,674 Due to related persons 3,965 7,114 Total liabilities 400,407 849,475 Commitments and contingencies Shareholders' equity: Common shares of beneficial interest, $.01 par value: 100,000,000 shares authorized; 65,005,000 and 45,000,000 shares issued and outstanding, respectively 650 450 Additional paid in capital 997,677 546,489 Cumulative net income 34,501 15,269 Total shareholders' equity 1,032,828 562,208 Total liabilities and shareholders' equity $ 1,433,235 $ 1,411,683 (dollars in thousands, except per share data)

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 13 CONDENSED CONSOLID ATED S TA TEMENTS OF INCOM E CONDENSED CONSOLIDATED STATEMENTS OF INCOME Three Months Ended March 31, 2018 2017 Revenues: Rental income $ 34,809 $ 33,870 Tenant reimbursements and other income 5,796 5,570 Total revenues 40,605 39,440 Expenses: Real estate taxes 4,585 4,339 Other operating expenses 3,545 2,732 Depreciation and amortization 6,873 6,811 General and administrative 2,574 4,636 Total expenses 17,577 18,518 Operating income 23,028 20,922 Interest income 13 — Interest expense (including amortization of debt premiums of $311 and ($73), respectively) (3,802) (555) Income before income tax expense 19,239 20,367 Income tax expense (7) (11) Net income $ 19,232 $ 20,356 Weighted average common shares outstanding - basic and diluted 61,445 45,000 Net income per common share - basic and diluted $ 0.31 $ 0.45 Additional Data: General and administrative expenses (1) / total revenues 6.3% 11.8% General and administrative expenses (1) / total assets (at end of period) 0.2% 0.3% Non-cash straight line rent adjustments included in rental income (2) $ 1,194 $ 1,470 Lease value amortization included in rental income (2) $ 102 $ 96 (amounts in thousands, except per share data) (1) General and administrative expenses for the three months ended March 31, 2017 include $2,409, which represents the portion of SIR's estimated business management incentive fee allocated to us for the period during which we were SIR's wholly owned subsidiary. (2) We report rental income on a straight line basis over the terms of the respective leases; accordingly, rental income includes non-cash straight line rent adjustments. Rental income also includes non-cash amortization of intangible lease assets and liabilities and lease termination fees, if any.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 14 CONDENSED CONSOLID ATED S TA TEMENTS OF CASH FLOW S CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (dollars in thousands) Three Months Ended March 31, 2018 2017 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 19,232 $ 20,356 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 4,478 4,407 Net amortization of debt issuance costs and premiums 311 (73) Amortization of acquired real estate leases and assumed real estate lease obligations 2,105 2,110 Amortization of deferred leasing costs 194 203 Provision for losses on rents receivable 400 23 Straight line rental income (1,194) (1,470) Other non-cash expenses 104 — Change in assets and liabilities: Rents receivable (321) 698 Deferred leasing costs (9) (322) Due from related persons (4,133) — Other assets 599 (3,419) Accounts payable and other liabilities 788 207 Rents collected in advance 2,632 1,252 Security deposits 56 24 Due to related persons (3,149) — Net cash provided by operating activities 22,093 23,996 CASH FLOWS FROM INVESTING ACTIVITIES: Real estate acquisitions — (277) Real estate improvements (1,347) (1,244) Net cash used in investing activities (1,347) (1,521)

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 15 CONDENSED CONSOLID ATED S TA TEMENTS OF CASH FLOWS (CONTINUED ) CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED) (dollars in thousands) SUPPLEMENTAL DISCLOSURES: Interest paid $ 3,196 $ 628 Three Months Ended March 31, 2018 2017 CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of common shares, net 444,309 — Borrowings under revolving credit facility 7,000 — Repayment of mortgage notes payable — (8) Repayments of revolving credit facility (455,000) — Payment of debt issuance costs (4,183) — Contributions (1) 16,162 17,910 Distributions (1) (9,187) (40,377) Net cash used in financing activities (899) (22,475) Increase in cash and cash equivalents 19,847 — Cash and cash equivalents at beginning of period — — Cash and cash equivalents at end of period $ 19,847 $ — (1) Relates to transactions that occurred prior to the IPO.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 16 DEBT SUMMA RY DEBT SUMMARY (dollars in thousands) Coupon Interest Principal Maturity Due at Years to Rate (1) Rate (2) Balance (3) Date Maturity Maturity As of March 31, 2018: Unsecured Floating Rate Debt: Revolving credit facility (LIBOR + 140 bps) (4) 3.230% 3.230% $ 302,000 12/29/2021 $ 302,000 3.8 Secured Fixed Rate Debt: One property in Chester, VA 3.990% 3.480% 48,750 11/1/2020 48,750 2.6 Total / weighted average debt 3.336% 3.265% $ 350,750 $ 350,750 3.6 (1) Reflects the interest rate stated in, or determined pursuant to, the contract terms. (2) Includes the effect of mark to market accounting for our mortgage note. Excludes upfront transaction costs. (3) Principal balance excludes unamortized premiums related to these debts. Total debt outstanding as of March 31, 2018, plus unamortized premiums totaling $619, was $351,369. (4) We have a $750,000 revolving credit facility which has a maturity date of December 29, 2021, interest payable on borrowings of LIBOR plus a premium and a commitment fee of 25 basis points per annum as of March 31, 2018. The interest rate premium is subject to adjustment based on changes to our leverage ratio and the commitment fee is subject to adjustment based on the unused portion of our revolving credit facility. We have the option to extend the maturity date of our revolving credit facility for two six month periods, subject to payment of extension fees and satisfaction of other conditions. Principal balance represents the amount outstanding under our revolving credit facility at March 31, 2018. Interest rate is as of March 31, 2018 and excludes the 25 basis points commitment fee. The maximum borrowing availability under our revolving credit facility may be increased to up to $1,500,000 in certain circumstances.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 17 DEBT M ATURIT Y SCHEDUL E DEBT MATURITY SCHEDULE (dollars in thousands) Scheduled Principal Payments as of March 31, 2018 Unsecured Secured Floating Fixed Year Rate Debt Rate Debt Total (2) 2020 $ — $ 48,750 $ 48,750 2021 302,000 (1) — 302,000 Total $ 302,000 $ 48,750 $ 350,750 Percent 86.1% 13.9% 100.0% (1) Represents the amount outstanding under our $750,000 revolving credit facility at March 31, 2018. We have a $750,000 revolving credit facility which has a maturity date of December 29, 2021, interest payable on borrowings of LIBOR plus a premium and a commitment fee of 25 basis points per annum as of March 31, 2018. The interest rate premium is subject to adjustment based on changes to our leverage ratio and the commitment fee is subject to adjustment based on the unused portion of our revolving credit facility. We have the option to extend the maturity date of our revolving credit facility for two six month periods, subject to payment of extension fees and satisfaction of other conditions. (2) Total debt outstanding as of March 31, 2018, plus unamortized premiums totaling $619, was $351,369.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 18 LEVERAGE R ATIOS AND COVERAGE R ATIOS LEVERAGE RATIOS AND COVERAGE RATIOS As of and For the Three Months Ended 3/31/2018 (1) Leverage Ratios Post-IPO: Total debt (2) / total gross assets (3) 23.2% Total debt (2) / gross book value of real estate assets (4) 24.2% Total debt (2) / total market capitalization (5) 21.0% Secured debt (2) / total assets 3.4% Variable rate debt (2) / total debt (2) 86.1% Coverage Ratios Post-IPO: Adjusted EBITDA (6) / interest expense 7.9x Total debt (2) / annualized Adjusted EBITDA (6) 2.9x (1) In connection with our formation in September 2017, SIR contributed to us substantially all of SIR's industrial and logistics properties located in Hawaii, totaling 226 buildings, leasable land parcels and easements, as well as 40 industrial and logistics buildings located in 24 other states (a combined 28,540,000 rentable square feet) and we issued a $750,000 demand note and 45,000,000 of our common shares to SIR. On January 17, 2018, we completed the IPO, in which we issued 20,000,000 of our common shares for net proceeds of $444,309 (after deducting the underwriting discounts and commissions and expenses). We used substantially all of the net proceeds from the IPO to reduce amounts outstanding under our revolving credit facility. (2) Debt amounts represent the principal balance as of the date reported. (3) Total gross assets is total assets plus accumulated depreciation. (4) Gross book value of real estate assets is real estate properties at cost, plus certain acquisition costs, if any, before depreciation and purchase price allocations, less impairment writedowns, if any. (5) Total market capitalization is total debt plus the market value of our common shares at the end of the period. (6) See page 22 for the calculation of Adjusted EBITDA and for a reconciliation of net income determined in accordance with GAAP to that amount. (dollars in thousands,)

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 19 CAPI TA L EXPENDITURES SUMMA RY CAPITAL EXPENDITURES SUMMARY (dollars in thousands) For the Three Months Ended 3/31/2018 12/31/2017 9/30/2017 6/30/2017 3/31/2017 Tenant improvements (1) $ 69 $ 384 $ 2 $ 61 $ 17 Leasing costs (2) 5 80 95 24 429 Building improvements (3) 90 228 224 264 309 Recurring capital expenditures 164 692 321 349 755 Development, redevelopment and other activities (4) 378 634 1,928 1,959 684 Total capital expenditures $ 542 $ 1,326 $ 2,249 $ 2,308 $ 1,439 (1) Tenant improvements include capital expenditures used to improve tenants' space or amounts paid directly to tenants to improve their space. (2) Leasing costs include leasing related costs, such as brokerage commissions, legal costs and tenant inducements. (3) Building improvements generally include (i) expenditures to replace obsolete building components and (ii) expenditures that extend the useful life of existing assets. (4) Development, redevelopment and other activities generally include (i) capital expenditures that are identified at the time of a property acquisition and incurred within a short time period after acquiring the property and (ii) capital expenditure projects that reposition a property or result in new sources of revenues.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 20 PROPERT Y ACQUISITIONS AND DISPOSITIONS INFORM ATION SINCE 1/1/18 PROPERTY ACQUISITIONS AND DISPOSITIONS INFORMATION SINCE 1/1/18 Acquisitions: Dispositions: We have not acquired any properties since January 1, 2018. We have not disposed of any properties since January 1, 2018.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 21 CALCUL ATION OF PROPERT Y NET OPER ATING INCOME (NOI) AND CASH BASIS NO I CALCULATION OF PROPERTY NET OPERATING INCOME (NOI) AND CASH BASIS NOI (1) (dollars in thousands) (1) See Definitions of Certain Non-GAAP Financial Measures on page 24 for the definitions of NOI and Cash Basis NOI, a description of why we believe they are appropriate supplemental measures and a description of how we use these measures. (2) We report rental income on a straight line basis over the terms of the respective leases; accordingly, rental income includes non-cash straight line rent adjustments. Rental income also includes non- cash amortization of intangible lease assets and liabilities and lease termination fees, if any. For the Three Months Ended 3/31/2018 12/31/2017 9/30/2017 6/30/2017 3/31/2017 Calculation of NOI and Cash Basis NOI: Rental income $ 34,809 $ 33,905 $ 33,624 $ 33,427 $ 33,870 Tenant reimbursements and other income 5,796 5,490 5,442 5,178 5,570 Real estate taxes (4,585) (4,611) (4,579) (4,339) (4,339) Other operating expenses (3,545) (2,753) (2,727) (2,701) (2,732) NOI 32,475 32,031 31,760 31,565 32,369 Non-cash straight line rent adjustments included in rental income (2) (1,194) (1,341) (1,476) (1,475) (1,470) Lease value amortization included in rental income (2) (102) (101) (97) (96) (96) Lease termination fees included in rental income (2) — (168) — — — Non-cash amortization included in other operating expenses — (139) (138) (138) (138) Cash Basis NOI $ 31,179 $ 30,282 $ 30,049 $ 29,856 $ 30,665 Reconciliation of Net Income to NOI and Cash Basis NOI: Net income $ 19,232 $ 15,269 $ 22,903 $ 21,575 $ 20,356 Income tax expense 7 11 11 11 11 Income before income tax expense 19,239 15,280 22,914 21,586 20,367 Interest expense 3,802 759 565 560 555 Interest income (13) — — — — Operating income 23,028 16,039 23,479 22,146 20,922 General and administrative 2,574 9,053 546 2,564 4,636 Acquisition and transaction related costs — 100 925 — — Depreciation and amortization 6,873 6,839 6,810 6,855 6,811 NOI 32,475 32,031 31,760 31,565 32,369 Non-cash straight line rent adjustments included in rental income (2) (1,194) (1,341) (1,476) (1,475) (1,470) Lease value amortization included in rental income (2) (102) (101) (97) (96) (96) Lease termination fees included in rental income (2) — (168) — — — Non-cash amortization included in other operating expenses — (139) (138) (138) (138) Cash Basis NOI $ 31,179 $ 30,282 $ 30,049 $ 29,856 $ 30,665

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 22 CALCUL ATION OF EBITD A AND ADJUSTED EBITD A CALCULATION OF EBITDA AND ADJUSTED EBITDA (1) (dollars in thousands) For the Three Months Ended 3/31/2018 12/31/2017 9/30/2017 6/30/2017 3/31/2017 Net income $ 19,232 $ 15,269 $ 22,903 $ 21,575 $ 20,356 Plus: interest expense 3,802 759 565 560 555 Plus: income tax expense 7 11 11 11 11 Plus: depreciation and amortization 6,873 6,839 6,810 6,855 6,811 EBITDA 29,914 22,878 30,289 29,001 27,733 Plus: acquisition and transaction related costs — 100 925 — — Plus: general and administrative expense paid in common shares (2) 104 — — — — Plus: estimated business management incentive fees (3) — (1,003) (1,687) 281 2,409 Adjusted EBITDA $ 30,018 $ 21,975 (4) $ 29,527 $ 29,282 $ 30,142 (1) See Definitions of Certain Non-GAAP Financial Measures on page 24 for the definitions of EBITDA and Adjusted EBITDA and a description of why we believe they are appropriate supplemental measures. (2) Amount represents equity based compensation to our trustees. (3) Incentive fees under our and SIR's business management agreements with RMR LLC are payable after the end of each calendar year, are calculated based on common share total return, as defined in the respective agreements, and are included in general and administrative expense in our condensed consolidated statements of income. In calculating net income in accordance with GAAP, we recognize estimated business management incentive fee expense, if any, in the first, second and third quarters. Although we recognize this expense, if any, in the first, second and third quarters for purposes of calculating net income, we do not include such expense in the calculation of Adjusted EBITDA until the fourth quarter, when the amount of the business management incentive fee expense for the calendar year, if any, is determined. (4) Adjusted EBITDA for the three months ended December 31, 2017 includes $7,660, which represents the portion of SIR's business management incentive fee allocated to us, and was paid by SIR and not us. Excluding business management incentive fee expense, Adjusted EBITDA would have been $29,635 for the three months ended December 31, 2017.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 23 CALCUL ATION OF FUNDS FROM OPER ATIONS (FFO) AND NORMALIZED FF O CALCULATION OF FUNDS FROM OPERATIONS (FFO) AND NORMALIZED FFO (1) (dollars and shares in thousands, except per share data) For the Three Months Ended 3/31/2018 12/31/2017 9/30/2017 6/30/2017 3/31/2017 Net income $ 19,232 $ 15,269 $ 22,903 $ 21,575 $ 20,356 Plus: depreciation and amortization 6,873 6,839 6,810 6,855 6,811 FFO 26,105 22,108 29,713 28,430 27,167 Plus: acquisition and transaction related costs — 100 925 — — Plus: estimated business management incentive fees (2) — (1,003) (1,687) 281 2,409 Normalized FFO $ 26,105 $ 21,205 $ 28,951 $ 28,711 $ 29,576 Share and Per Share Data Post-IPO (3): Weighted average common shares outstanding - basic and diluted 61,445 Net income per common share - basic and diluted $ 0.31 FFO per common share - basic and diluted $ 0.42 Normalized FFO per common share - basic and diluted $ 0.42 (1) See Definitions of Certain Non-GAAP Financial Measures on page 24 for the definitions of FFO and Normalized FFO, a description of why we believe they are appropriate supplemental measures and a description of how we use these measures. (2) Incentive fees under our and SIR's business management agreements with RMR LLC are payable after the end of each calendar year, are calculated based on common share total return, as defined in the respective agreements, and are included in general and administrative expenses in our condensed consolidated statements of income. In calculating net income in accordance with GAAP, we recognize estimated business management incentive fee expense, if any, in the first, second and third quarters. Although we recognize this expense, if any, in the first, second and third quarters for purposes of calculating net income, we do not include such expense in the calculation of Normalized FFO until the fourth quarter, when the amount of the business management incentive fee expense for the calendar year, if any, is determined. Normalized FFO for the three months ended December 31, 2017 includes $7,660, which represents the portion of SIR's business management incentive fee allocated to us. Excluding business management incentive fee expense, Normalized FFO would have been $28,865 for the three months ended December 31, 2017. (3) In connection with our formation in September 2017, SIR contributed to us substantially all of SIR's industrial and logistics properties located in Hawaii, totaling 226 buildings, leasable land parcels and easements, as well as 40 industrial and logistics buildings located in 24 other states (a combined 28,540,000 rentable square feet) and we issued a $750,000 demand note and 45,000 of our common shares to SIR. On January 17, 2018, we completed the IPO, in which we issued 20,000 of our common shares for net proceeds of $444,309 (after deducting the underwriting discounts and commissions and expenses). We used substantially all of the net proceeds from the IPO to reduce amounts outstanding under our revolving credit facility.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 24 DEFINITIONS OF CER TAIN NON-GAA P FINANCIA L MEASURE S DEFINITIONS OF CERTAIN NON-GAAP FINANCIAL MEASURES NOI and Cash Basis NOI: The calculations of NOI and Cash Basis NOI exclude certain components of net income in order to provide results that are more closely related to our property level results of operations. We calculate NOI and Cash Basis NOI as shown on page 21. We define NOI as income from our rental of real estate less our property operating expenses. NOI excludes amortization of capitalized tenant improvement costs and leasing commissions that we record as depreciation and amortization. We define Cash Basis NOI as NOI excluding non-cash straight line rent adjustments, lease value amortization, lease termination fees, if any, and non-cash amortization included in other operating expenses. We consider NOI and Cash Basis NOI to be appropriate supplemental measures to net income because they may help both investors and management to understand the operations of our properties. We use NOI and Cash Basis NOI to evaluate individual and company wide property level performance, and we believe that NOI and Cash Basis NOI provide useful information to investors regarding our results of operations because they reflect only those income and expense items that are generated and incurred at the property level and may facilitate comparisons of our operating performance between periods and with other REITs. NOI and Cash Basis NOI do not represent cash generated by operating activities in accordance with GAAP and should not be considered alternatives to net income or operating income as indicators of our operating performance or as measures of our liquidity. These measures should be considered in conjunction with net income and operating income as presented in our condensed consolidated statements of income. Other real estate companies and REITs may calculate NOI and Cash Basis NOI differently than we do. EBITDA and Adjusted EBITDA: We calculate EBITDA and Adjusted EBITDA as shown on page 22. We consider EBITDA and Adjusted EBITDA to be appropriate supplemental measures of our operating performance, along with net income and operating income. We believe that EBITDA and Adjusted EBITDA provide useful information to investors because by excluding the effects of certain historical amounts, such as interest, depreciation and amortization expense, EBITDA and Adjusted EBITDA may facilitate a comparison of current operating performance with our past operating performance. EBITDA and Adjusted EBITDA do not represent cash generated by operating activities in accordance with GAAP and should not be considered alternatives to net income or operating income as indicators of operating performance or as measures of our liquidity. These measures should be considered in conjunction with net income and operating income as presented in our condensed consolidated statements of income. Other real estate companies and REITs may calculate EBITDA and Adjusted EBITDA differently than we do. FFO and Normalized FFO: We calculate FFO and Normalized FFO as shown on page 23. FFO is calculated on the basis defined by The National Association of Real Estate Investment Trusts, or Nareit, which is net income, calculated in accordance with GAAP, plus real estate depreciation and amortization, as well as certain other adjustments currently not applicable to us. Our calculation of Normalized FFO differs from Nareit’s definition of FFO because we include business management incentive fees, if any, only in the fourth quarter versus the quarter when they are recognized as expense in accordance with GAAP due to their quarterly volatility not necessarily being indicative of our core operating performance and the uncertainty as to whether any such business management incentive fees will be payable when all contingencies for determining such fees are known at the end of the calendar year, and we exclude acquisition and transaction related costs expensed under GAAP. We consider FFO and Normalized FFO to be appropriate supplemental measures of operating performance for a REIT, along with net income and operating income. We believe that FFO and Normalized FFO provide useful information to investors because by excluding the effects of certain historical amounts, such as depreciation expense, FFO and Normalized FFO may facilitate a comparison of our operating performance between periods and with other REITs. FFO and Normalized FFO are among the factors considered by our Board of Trustees when determining the amount of distributions to our shareholders. Other factors include, but are not limited to, requirements to qualify for taxation as a REIT, limitations in our credit agreement, the availability to us of debt and equity capital, our expectation of our future capital requirements and operating performance and our expected needs for and availability of cash to pay our obligations. FFO and Normalized FFO do not represent cash generated by operating activities in accordance with GAAP and should not be considered alternatives to net income or operating income as indicators of our operating performance or as measures of our liquidity. These measures should be considered in conjunction with net income and operating income as presented in our condensed consolidated statements of income. Other real estate companies and REITs may calculate FFO and Normalized FFO differently than we do.

25 PORTFOLIO INFORMATION 25 200 Orange Point Drive, Lewis Center, OH Square Feet: 125,060 Tenant: American Tire Distributors, Inc.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 26 PORTFOLIO SUMMA RY B Y PROPERT Y TYP E PORTFOLIO SUMMARY BY PROPERTY TYPE (dollars and sq. ft. in thousands) (1) Includes buildings, leasable land parcels and easements which are primarily industrial lands located in Hawaii. (2) See page 21 for the calculation of NOI and Cash Basis NOI and a reconciliation of net income determined in accordance with GAAP to those amounts. As of and For the Three Months Ended March 31, 2018 Mainland Hawaii Key Statistic Properties Properties Total Leasable properties (1) 40 226 266 Percent of total 15.0% 85.0% 100.0% Total square feet 11,706 16,834 28,540 Percent of total 41.0% 59.0% 100.0% Leased square feet 11,706 16,828 28,534 Percent leased 100.0% 99.9% 99.9% Total revenues $ 15,971 $ 24,634 $ 40,605 Percent of total 39.3% 60.7% 100.0% NOI (2) $ 13,553 $ 18,922 $ 32,475 Percent of total 41.7% 58.3% 100.0% Cash Basis NOI (2) $ 13,049 $ 18,130 $ 31,179 Percent of total 41.9% 58.1% 100.0%

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 27 PROPERT Y RESU LTS OF OPER ATIONS B Y PROPERT Y TYP E PROPERTY RESULTS OF OPERATIONS BY PROPERTY TYPE (1) (dollars and sq. ft. in thousands) As of and For the Three Months Ended (1) 3/31/2018 3/31/2017 Leasable Properties: Mainland Properties 40 40 Hawaii Properties 226 226 Total 266 266 Square Feet (2): Mainland Properties 11,706 11,671 Hawaii Properties 16,834 16,834 Total 28,540 28,505 Percent Leased (3): Mainland Properties 100.0% 100.0% Hawaii Properties 99.9% 99.3% Total 99.9% 99.6% Total Revenues: Mainland Properties $ 15,971 $ 15,848 Hawaii Properties 24,634 23,592 Total $ 40,605 $ 39,440 (1) Consists of properties that we owned (including for the period SIR owned our properties prior to the IPO) continuously since January 1, 2017. All of our properties have been continuously owned by us and SIR since January 1, 2017. For the three months ended March 31, 2018 and 2017, our consolidated results are equal to our same property results because the properties we owned (including for the period SIR owned our properties prior to the IPO) did not change over that period. (2) Subject to modest adjustments when space is re-measured or re-configured for new tenants and when land leases are converted to building leases. (3) Includes (i) space being fitted out for occupancy pursuant to existing leases, if any, and (ii) space which is leased but is not occupied or is being offered for sublease by tenants, if any.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 28 PROPERT Y RESU LTS OF OPER ATIONS B Y PROPERT Y TYPE (CONTINUED ) PROPERTY RESULTS OF OPERATIONS BY PROPERTY TYPE (CONTINUED) (1) (dollars in thousands) As of and For the Three Months Ended (1) 3/31/2018 3/31/2017 NOI (2): Mainland Properties $ 13,553 $ 13,801 Hawaii Properties 18,922 18,568 Total $ 32,475 $ 32,369 Cash Basis NOI (2): Mainland Properties $ 13,049 $ 13,043 Hawaii Properties 18,130 17,622 Total $ 31,179 $ 30,665 NOI % Change: Mainland Properties -1.8% Hawaii Properties 1.9% Total 0.3% Cash Basis NOI % Change: Mainland Properties —% Hawaii Properties 2.9% Total 1.7% (1) Consists of properties that we owned (including for the period SIR owned our properties prior to the IPO) continuously since January 1, 2017. All of our properties have been continuously owned by us and SIR since January 1, 2017. For the three months ended March 31, 2018 and 2017, our consolidated results are equal to our same property results because the properties we owned (including for the period SIR owned our properties prior to the IPO) did not change over that period. (2) See page 21 for the calculation of NOI and Cash Basis NOI and a reconciliation of net income determined in accordance with GAAP to those amounts.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 29 LEASING SUMMA RY LEASING SUMMARY (dollars and sq. ft. in thousands, except per sq. ft. data) The above leasing summary is based on leases entered into during the periods indicated. As of and For the Three Months Ended 3/31/2018 12/31/2017 9/30/2017 6/30/2017 3/31/2017 Leasable buildings (1) 266 266 266 266 266 Total sq. ft. (2) 28,540 28,540 28,540 28,505 28,505 Square feet leased 28,534 28,533 28,519 28,380 28,380 Percentage leased 99.9% 99.9% 99.9% 99.6% 99.6% Leasing Activity (Sq. Ft.): New leases 1 60 114 1 234 (3) Renewals 295 108 135 161 150 Total 296 168 249 162 384 % Change in GAAP Rent (4): New leases 19.6% 17.8% -11.0% 23.2% 23.3% Renewals 46.3% 8.9% 5.7% 3.9% 42.5% Weighted average 45.9% 13.3% -0.5% 4.2% 32.6% Leasing Costs and Concession Commitments (5): New leases $ 33 $ 148 $ 171 $ 15 $ 826 Renewals 35 8 16 14 54 Total $ 68 $ 156 $ 187 $ 29 $ 880 Leasing Costs and Concession Commitments per Sq. Ft. (5): New leases $ 33.00 $ 2.47 $ 1.50 $ 15.00 $ 3.53 Renewals $ 0.12 $ 0.07 $ 0.12 $ 0.09 $ 0.36 Total $ 0.23 $ 0.93 $ 0.75 $ 0.18 $ 2.29 Weighted Average Lease Term by Sq. Ft. (years): New leases 7.0 3.6 10.1 3.1 7.1 Renewals 30.4 6.0 8.3 35.9 16.8 Total 30.3 5.1 9.1 35.7 10.9 Leasing Costs and Concession Commitments per Sq. Ft. per Year (5) (6): New leases $ 4.71 $ 0.69 $ 0.15 $ 4.84 $ 0.50 Renewals $ 0.00 $ 0.01 $ 0.01 $ 0.00 $ 0.02 Total $ 0.01 $ 0.18 $ 0.08 $ 0.01 $ 0.21 (1) Includes 226 buildings, leasable land parcels and easements with approximately 16,834 square feet which are primarily industrial lands located in Hawaii. (2) Subject to modest adjustments when space is re-measured or re-configured for new tenants and when land leases are converted to building leases. (3) Includes a 35 square foot expansion for a lease that commenced on September 1, 2017. (4) Percent change in prior rents charged for same space. Rents include estimated recurring expense reimbursements and exclude lease value amortization. References in this report to "same space" represent same land area and building area (with leasing rates for vacant space based upon the most recent rental rate for the same space). (5) Includes commitments made for leasing expenditures and concessions, such as tenant improvements, leasing commissions, tenant reimbursements and free rent. (6) Amounts are per square foot per year for the weighted average lease term by leased square feet.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 30 OCCU PANC Y AND LEASING ANA LYSIS B Y PROPERT Y TYP E OCCUPANCY AND LEASING ANALYSIS BY PROPERTY TYPE (sq. ft. in thousands) Total Sq. Ft. (1) Sq. Ft. Leases Executed During As of the Three Months Ended 3/31/2018 Property Type 3/31/2018 New Renewals Total Mainland Properties 11,706 — — — Hawaii Properties 16,834 1 295 296 Total 28,540 1 295 296 Sq. Ft. Leased As of 12/31/2017 New and Acquisitions / As of 3/31/2018 Property Type 12/31/2017 % Leased (2) Expired Renewals (Sales) 3/31/2018 % Leased Mainland Properties 11,706 100.0% — — — 11,706 100.0% Hawaii Properties 16,827 99.9% (295) 296 — 16,828 99.9% Total 28,533 99.9% (295) 296 — 28,534 99.9% (1) Subject to modest adjustments when space is re-measured or re-configured for new tenants and when land leases are converted to building leases. (2) Excludes effects of space remeasurements during the period, if any. Percent leased includes (i) space being fitted out for occupancy, if any, and (ii) space which is leased but is not occupied or is being offered for sublease by tenants, if any.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 31 TENANT CREDIT CHARACTERISTIC S TENANT CREDIT CHARACTERISTICS As of March 31, 2018 % of Annualized Rental Revenues (1) Mainland Tenant Credit Characteristics Properties Consolidated Investment grade rated 44.9% 18.0% Subsidiaries of investment grade rated parent entities 8.6% 3.5% Other leased Hawaii lands —% 54.8% Subtotal investment grade rated, subsidiaries of investment grade rated parent entities and other leased Hawaii lands 53.5% 76.3% Other unrated or non-investment grade 46.5% 23.7% 100.0% 100.0% Mainland Properties % of Annualized Rental Revenues (1) (1) We define annualized rental revenues as the annualized contractual rents, as of March 31, 2018, including straight line rent adjustments and excluding lease value amortization, adjusted for tenant concessions including free rent and amounts reimbursed to tenants, plus estimated recurring expense reimbursements from tenants. Investment grade rated Subsidiaries of investment grade rated parent entities Other unrated or non-investment grade 44.9% 8.6% 46.5% Investment grade rated Subsidiaries of investment grade rated parent entities Other leased Hawaii lands Other unrated or non-investment grade 18.0% 3.5% 54.8% 23.7% Consolidated Properties % of Annualized Rental Revenues (1)

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 32 TENANTS REPRESENTING 1% OR MORE OF TO TA L ANNUALIZED REN TA L REVENUE S TENANTS REPRESENTING 1% OR MORE OF TOTAL ANNUALIZED RENTAL REVENUES (sq. ft. in thousands) % of Total Rented % of Total Annualized Rental Tenant Property Type Sq. Ft. (1) Rented Sq. Ft. (1) Revenues (2) 1. Amazon.com.dedc, LLC / Amazon.com.kydc LLC Mainland Industrial 3,048 10.7% 10.2% 2. Restoration Hardware, Inc. Mainland Industrial 1,195 4.2% 3.8% 3. Federal Express Corporation / FedEx Ground Package System, Inc. Mainland Industrial 674 2.4% 3.6% 4. American Tire Distributors, Inc. Mainland Industrial 722 2.5% 3.2% 5. Par Hawaii Refining, LLC Hawaii Land and Easement 3,148 11.0% 2.8% 6. Servco Pacific Inc. Hawaii Land and Easement 537 1.9% 2.3% 7. Shurtech Brands, LLC Mainland Industrial 645 2.3% 2.2% 8. BJ's Wholesale Club, Inc. Mainland Industrial 634 2.2% 2.2% 9. Safeway Inc. Hawaii Land and Easement 146 0.5% 2.1% 10. Exel Inc. Mainland Industrial 945 3.3% 2.0% 11. Trex Company, Inc. Mainland Industrial 646 2.3% 1.9% 12. Avnet, Inc. Mainland Industrial 581 2.0% 1.8% 13. Manheim Remarketing, Inc. Hawaii Land and Easement 338 1.2% 1.7% 14. Warehouse Rentals Inc. Hawaii Land and Easement 278 1.0% 1.6% 15. Coca-Cola Bottling of Hawaii, LLC Hawaii Land and Easement 351 1.2% 1.6% 16. A.L. Kilgo Company, Inc. Hawaii Land and Easement 310 1.1% 1.5% 17. The Net-A-Porter Group LLC Mainland Industrial 167 0.6% 1.4% 18. General Mills Operations, LLC Mainland Industrial 158 0.6% 1.4% 19. Honolulu Warehouse Co., Ltd. Hawaii Land and Easement 298 1.0% 1.4% 20. AES Hawaii, Inc. Hawaii Land and Easement 1,242 4.4% 1.2% 21. Bradley Shopping Center Company Hawaii Land and Easement 334 1.2% 1.1% 22. Kaiser Foundation Health Plan, Inc. Hawaii Land and Easement 217 0.8% 1.1% 23. The Toro Company Mainland Industrial 450 1.6% 1.1% Total 17,064 60.0% 53.2% As of March 31, 2018 (1) Rented square feet is pursuant to existing leases as of March 31, 2018 and includes (i) space being fitted out for occupancy, if any, and (ii) space which is leased but is not occupied or is being offered for sublease by tenants, if any. (2) We define annualized rental revenues as the annualized contractual rents, as of March 31, 2018, including straight line rent adjustments and excluding lease value amortization, adjusted for tenant concessions including free rent and amounts reimbursed to tenants, plus estimated recurring expense reimbursements from tenants.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 33 THREE YEAR LEASE EXPIR ATION SCHEDULE B Y PROPERT Y TYP E THREE YEAR LEASE EXPIRATION SCHEDULE BY PROPERTY TYPE (dollars and sq. ft. in thousands)As of March 31, 2018 2021 and Total 2018 2019 2020 Thereafter Mainland Properties: Total sq. ft. 11,706 Leased sq. ft. (1) 11,706 — 95 454 11,157 Percent —% 0.8% 3.9% 95.3% Annualized rental revenues (2) $ 62,124 $ — $ 607 $ 1,870 $ 59,647 Percent —% 1.0% 3.0% 96.0% Hawaii Properties: Total sq. ft. 16,834 Leased sq. ft. (1) 16,828 314 1,439 394 14,681 Percent 1.9% 8.6% 2.3% 87.2% Annualized rental revenues (2) $ 94,384 $ 1,177 $ 3,803 $ 2,422 $ 86,982 Percent 1.2% 4.0% 2.6% 92.2% Total: Total sq. ft. 28,540 Leased sq. ft. (1) 28,534 314 1,534 848 25,838 Percent 1.1% 5.4% 3.0% 90.5% Annualized rental revenues (2) $ 156,508 $ 1,177 $ 4,410 $ 4,292 $ 146,629 Percent 0.8% 2.8% 2.7% 93.7% (1) Leased square feet is pursuant to existing leases as of March 31, 2018, and includes (i) space being fitted out for occupancy, if any, and (ii) space which is leased but is not occupied, or is being offered for sublease by tenants, if any. (2) We define annualized rental revenues as the annualized contractual rents, as of March 31, 2018, including straight line rent adjustments and excluding lease value amortization, adjusted for tenant concessions including free rent and amounts reimbursed to tenants, plus estimated recurring expense reimbursements from tenants.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 34 PORTFOLIO LEASE EXPIR ATION SCHEDUL E PORTFOLIO LEASE EXPIRATION SCHEDULE (dollars and sq. ft. in thousands)As of March 31, 2018 Cumulative % of Total Cumulative % Annualized % of Total % of Total Rented Rented of Total Rented Rental Annualized Annualized Number of Square Feet Square Feet Square Feet Revenues Rental Revenues Rental Revenues Period/Year Tenants Expiring (1) Expiring (1) Expiring (1) Expiring (2) Expiring (2) Expiring (2) 4/1/2018 - 12/31/2018 16 314 1.1% 1.1% $ 1,177 0.8% 0.8% 2019 16 1,534 5.4% 6.5% 4,410 2.8% 3.6% 2020 19 848 3.0% 9.5% 4,292 2.7% 6.3% 2021 20 1,224 4.3% 13.8% 7,139 4.6% 10.9% 2022 63 2,762 9.7% 23.5% 20,823 13.3% 24.2% 2023 18 1,538 5.4% 28.9% 11,665 7.5% 31.7% 2024 12 4,750 16.6% 45.5% 15,698 10.0% 41.7% 2025 8 619 2.2% 47.7% 3,115 2.0% 43.7% 2026 3 637 2.2% 49.9% 3,472 2.2% 45.9% 2027 12 4,887 17.1% 67.0% 23,840 15.2% 61.1% Thereafter 81 9,421 33.0% 100.0% 60,877 38.9% 100.0% Total 268 28,534 100.0% $ 156,508 100.0% Weighted average remaining lease term (in years) 10.3 11.2 (1) Rented square feet is pursuant to existing leases as of March 31, 2018, and includes (i) space being fitted out for occupancy, if any, and (ii) space which is leased but is not occupied or is being offered for sublease by tenants, if any. (2) We define annualized rental revenues as the annualized contractual rents, as of March 31, 2018, including straight line rent adjustments and excluding lease value amortization, adjusted for tenant concessions including free rent and amounts reimbursed to tenants, plus estimated recurring expense reimbursements from tenants.

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 35 HA W AII LAND RENT RESET SUMMA RY HAWAII LAND RENT RESET SUMMARY (dollars and sq. ft. in thousands) Historical Hawaii Land Rent Resets: For the Three Months Ended 3/31/2018 12/31/2017 9/30/2017 6/30/2017 3/31/2017 Number of leases reset — 4 1 1 — Square feet — 200 27 79 — Percent change in GAAP rent (1) —% 38.6% 45.3% 48.9% —% Scheduled Hawaii Land Rent Resets: As of March 31, 2018 Number Annualized of Resets Sq. Ft. Rental Revenues (2) 2018 1 21 $ 237 2019 20 2,498 10,903 2020 4 359 2,500 2021 and thereafter 40 2,742 19,723 Total 65 5,620 $ 33,363 (1) Represents percent change in prior rents charged for same space. Reset rents include estimated recurring expense reimbursements and exclude lease value amortization. (2) We define annualized rental revenues as the annualized contractual rents, as of March 31, 2018, including straight line rent adjustments and excluding lease value amortization, adjusted for tenant concessions including free rent and amounts reimbursed to tenants, plus estimated recurring expense reimbursements from tenants.

36 EXHIBIT 2833 Paa Street, Honolulu, HI Square Feet: 60,000 Tenant: W.W. Grainger, Inc. 36

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 37 PROPERT Y DE TAI L PROPERTY DETAIL (dollars and square feet in thousands) EXHIBIT AAs of March 31, 2018 (1) We define annualized rental revenues as the annualized contractual rents, as of March 31, 2018, including straight line rent adjustments and excluding lease value amortization, adjusted for tenant concessions including free rent and amounts reimbursed to tenants, plus estimated recurring expense reimbursements from tenants. (2) Excludes the value of real estate intangibles. (3) Date acquired is the date SIR or SIR's former parent entity acquired the property. Number of Year Buildings, Annualized Built or Land Parcels Property Rental Undepreciated Depreciated Date Most Recent Property City State and Easements Type Square Feet % Leased Revenues (1) Carrying Value (2) Carrying Value (2) Acquired (3) Renovation 1 4501 Industrial Drive Fort Smith AR 1 Mainland Industrial 64 100.0% $ 465 $ 4,385 $ 4,109 1/29/2015 2013 2 955 Aeroplaza Drive Colorado Springs CO 1 Mainland Industrial 125 100.0% 900 8,212 7,625 1/29/2015 2012 3./4. 13400 East 39th Avenue and 3800 Wheeling Street Denver CO 2 Mainland Industrial 394 100.0% 1,358 16,101 15,054 1/29/2015 1996 5 150 Greenhorn Drive Pueblo CO 1 Mainland Industrial 54 100.0% 543 4,377 4,046 1/29/2015 2013 6 2 Tower Drive Wallingford CT 1 Mainland Industrial 62 100.0% 404 3,643 3,015 10/24/2006 1978 7 235 Great Pond Drive Windsor CT 1 Mainland Industrial 171 100.0% 1,383 11,869 10,528 7/20/2012 2004 8 2100 NW 82nd Avenue Miami FL 1 Mainland Industrial 37 100.0% 264 1,895 1,182 3/19/1998 2013 9 1000 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 42 100.0% 421 2,252 2,252 12/5/2003 — 10 1001 Ahua Street Honolulu HI 1 Hawaii Land and Easement 338 100.0% 2,634 18,559 17,354 12/5/2003 — 11 1024 Kikowaena Place Honolulu HI 1 Hawaii Land and Easement 40 100.0% 309 1,818 1,818 12/5/2003 — 12 1024 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 26 100.0% 218 1,385 1,385 12/5/2003 — 13 1027 Kikowaena Place Honolulu HI 1 Hawaii Land and Easement 102 100.0% 783 5,444 5,444 12/5/2003 — 14 1030 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 122 100.0% 991 5,655 5,655 12/5/2003 — 15 1038 Kikowaena Place Honolulu HI 1 Hawaii Land and Easement 47 100.0% 355 2,576 2,576 12/5/2003 — 16 1045 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 15 100.0% 105 819 819 12/5/2003 — 17 1050 Kikowaena Place Honolulu HI 1 Hawaii Land and Easement 43 100.0% 324 2,277 1,965 12/5/2003 — 18 1052 Ahua Street Honolulu HI 1 Hawaii Land and Easement 30 100.0% 197 1,943 1,868 12/5/2003 — 19 1055 Ahua Street Honolulu HI 1 Hawaii Land and Easement 27 100.0% 203 1,216 1,216 12/5/2003 — 20 106 Puuhale Road Honolulu HI 1 Hawaii Building 14 100.0% 247 1,342 1,296 12/5/2003 1966 21 1062 Kikowaena Place Honolulu HI 1 Hawaii Land and Easement 31 100.0% 238 1,647 1,434 12/5/2003 — 22 1122 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 106 100.0% 785 5,781 5,781 12/5/2003 — 23 113 Puuhale Road Honolulu HI 1 Hawaii Land and Easement 77 100.0% 542 3,729 3,729 12/5/2003 — 24 1150 Kikowaena Place Honolulu HI 1 Hawaii Land and Easement 46 100.0% 515 2,445 2,445 12/5/2003 — 25 120 Mokauea Street Honolulu HI 1 Hawaii Building 31 100.0% 446 2,608 2,520 12/5/2003 1970 26 120 Sand Island Access Road Honolulu HI 1 Hawaii Building 71 100.0% 1,288 13,735 9,652 11/23/2004 2004 27 120B Mokauea Street Honolulu HI 1 Hawaii Building 35 100.0% 542 1,953 1,953 12/5/2003 1970 28 125 Puuhale Road Honolulu HI 1 Hawaii Land and Easement 31 100.0% 255 1,630 1,630 12/5/2003 — 29 125B Puuhale Road Honolulu HI 1 Hawaii Land and Easement 49 100.0% 343 2,815 2,815 12/5/2003 — 30 1330 Pali Highway Honolulu HI 1 Hawaii Land and Easement 20 100.0% 459 1,423 1,423 12/5/2003 — 31 1360 Pali Highway Honolulu HI 1 Hawaii Land and Easement 126 100.0% 2,850 9,331 9,236 12/5/2003 — 32 140 Puuhale Road Honolulu HI 1 Hawaii Land and Easement 22 100.0% 200 1,100 1,100 12/5/2003 —

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 38 PROPERT Y DE TAI L (CONTINUED ) PROPERTY DETAIL (CONTINUED) (dollars and square feet in thousands) EXHIBIT AAs of March 31, 2018 (1) We define annualized rental revenues as the annualized contractual rents, as of March 31, 2018, including straight line rent adjustments and excluding lease value amortization, adjusted for tenant concessions including free rent and amounts reimbursed to tenants, plus estimated recurring expense reimbursements from tenants. (2) Excludes the value of real estate intangibles. (3) Date acquired is the date SIR or SIR's former parent entity acquired the property. Number of Year Buildings, Annualized Built or Land Parcels Property Rental Undepreciated Depreciated Date Most Recent Property City State and Easements Type Square Feet % Leased Revenues (1) Carrying Value (2) Carrying Value (2) Acquired (3) Renovation 33 142 Mokauea Street Honolulu HI 1 Hawaii Building 26 100.0% 400 3,637 3,308 12/5/2003 1972 34 148 Mokauea Street Honolulu HI 1 Hawaii Land and Easement 86 100.0% 719 3,476 3,476 12/5/2003 — 35 150 Puuhale Road Honolulu HI 1 Hawaii Land and Easement 123 100.0% 1,064 4,887 4,887 12/5/2003 — 36 151 Puuhale Road Honolulu HI 1 Hawaii Land and Easement 38 100.0% 337 1,956 1,956 12/5/2003 — 37 158 Sand Island Access Road Honolulu HI 1 Hawaii Land and Easement 101 100.0% 731 2,488 2,488 12/5/2003 — 38 165 Sand Island Access Road Honolulu HI 1 Hawaii Land and Easement 16 100.0% 115 758 758 12/5/2003 — 39 179 Sand Island Access Road Honolulu HI 1 Hawaii Land and Easement 62 100.0% 609 2,480 2,480 12/5/2003 — 40 180 Sand Island Access Road Honolulu HI 1 Hawaii Land and Easement 67 100.0% 555 1,655 1,655 12/5/2003 — 41 1926 Auiki Street Honolulu HI 1 Hawaii Building 42 100.0% 620 4,419 3,989 12/5/2003 1959 42 1931 Kahai Street Honolulu HI 1 Hawaii Land and Easement 96 100.0% 934 3,779 3,779 12/5/2003 — 43 197 Sand Island Access Road Honolulu HI 1 Hawaii Land and Easement 31 100.0% 297 1,238 1,238 12/5/2003 — 44 2001 Kahai Street Honolulu HI 1 Hawaii Land and Easement 27 100.0% 243 1,091 1,091 12/5/2003 — 45 2019 Kahai Street Honolulu HI 1 Hawaii Land and Easement 27 100.0% 218 1,377 1,377 12/5/2003 — 46 2020 Auiki Street Honolulu HI 1 Hawaii Land and Easement 47 100.0% 351 2,385 2,385 12/5/2003 — 47 204 Sand Island Access Road Honolulu HI 1 Hawaii Land and Easement 33 100.0% 256 1,689 1,689 12/5/2003 — 48 207 Puuhale Road Honolulu HI 1 Hawaii Land and Easement 40 100.0% 345 2,024 2,024 12/5/2003 — 49 2103 Kaliawa Street Honolulu HI 1 Hawaii Land and Easement 79 100.0% 677 3,212 3,212 12/5/2003 — 50 2106 Kaliawa Street Honolulu HI 1 Hawaii Land and Easement 31 100.0% 270 1,737 1,679 12/5/2003 — 51 2110 Auiki Street Honolulu HI 1 Hawaii Land and Easement 20 100.0% 256 837 837 12/5/2003 — 52 212 Mohonua Place Honolulu HI 1 Hawaii Land and Easement 46 100.0% 376 1,067 1,067 12/5/2003 — 53 2122 Kaliawa Street Honolulu HI 1 Hawaii Land and Easement 33 100.0% 322 1,365 1,365 12/5/2003 — 54 2127 Auiki Street Honolulu HI 1 Hawaii Land and Easement 57 100.0% 520 3,003 2,983 12/5/2003 — 55 2135 Auiki Street Honolulu HI 1 Hawaii Land and Easement 33 100.0% 255 825 825 12/5/2003 — 56 2139 Kaliawa Street Honolulu HI 1 Hawaii Land and Easement 22 100.0% 192 885 885 12/5/2003 — 57 214 Sand Island Access Road Honolulu HI 1 Hawaii Building 22 100.0% 423 2,267 2,234 12/5/2003 1981 58 2140 Kaliawa Street Honolulu HI 1 Hawaii Land and Easement 19 100.0% 147 931 931 12/5/2003 — 59 2144 Auiki Street Honolulu HI 1 Hawaii Building 54 100.0% 1,277 9,530 7,614 12/5/2003 1953 60 215 Puuhale Road Honolulu HI 1 Hawaii Land and Easement 42 100.0% 379 2,117 2,117 12/5/2003 — 61 218 Mohonua Place Honolulu HI 1 Hawaii Land and Easement 34 100.0% 266 1,741 1,741 12/5/2003 — 62 220 Puuhale Road Honolulu HI 1 Hawaii Land and Easement 66 100.0% 584 2,619 2,619 12/5/2003 —

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 39 PROPERT Y DE TAI L (CONTINUED ) PROPERTY DETAIL (CONTINUED) (dollars and square feet in thousands) EXHIBIT AAs of March 31, 2018 (1) We define annualized rental revenues as the annualized contractual rents, as of March 31, 2018, including straight line rent adjustments and excluding lease value amortization, adjusted for tenant concessions including free rent and amounts reimbursed to tenants, plus estimated recurring expense reimbursements from tenants. (2) Excludes the value of real estate intangibles. (3) Date acquired is the date SIR or SIR's former parent entity acquired the property. Number of Year Buildings, Annualized Built or Land Parcels Property Rental Undepreciated Depreciated Date Most Recent Property City State and Easements Type Square Feet % Leased Revenues (1) Carrying Value (2) Carrying Value (2) Acquired (3) Renovation 63 2250 Pahounui Drive Honolulu HI 1 Hawaii Land and Easement 76 100.0% 553 3,862 3,862 12/5/2003 — 64 2264 Pahounui Drive Honolulu HI 1 Hawaii Land and Easement 33 100.0% 242 1,632 1,632 12/5/2003 — 65 2276 Pahounui Drive Honolulu HI 1 Hawaii Land and Easement 33 100.0% 241 1,619 1,619 12/5/2003 — 66 228 Mohonua Place Honolulu HI 1 Hawaii Land and Easement 37 100.0% 338 1,865 1,865 12/5/2003 — 67 2308 Pahounui Drive Honolulu HI 1 Hawaii Land and Easement 65 100.0% 456 3,314 3,314 12/5/2003 — 68 231 Sand Island Access Road Honolulu HI 1 Hawaii Land and Easement 19 100.0% 161 752 752 12/5/2003 — 69 231B Sand Island Access Road Honolulu HI 1 Hawaii Land and Easement 39 100.0% 360 1,539 1,539 12/5/2003 — 70 2344 Pahounui Drive Honolulu HI 1 Hawaii Land and Easement 144 100.0% 1,318 6,709 6,709 12/5/2003 — 71 238 Sand Island Access Road Honolulu HI 1 Hawaii Land and Easement 60 100.0% 527 2,273 2,273 12/5/2003 — 72 2635 Waiwai Loop A Honolulu HI 1 Hawaii Land and Easement 23 100.0% 209 1,284 1,159 12/5/2003 — 73 2635 Waiwai Loop B Honolulu HI 1 Hawaii Land and Easement 22 100.0% 205 1,282 1,245 12/5/2003 — 74 2760 Kam Highway Honolulu HI 1 Hawaii Land and Easement 29 100.0% 144 724 724 12/5/2003 — 75 2804 Kilihau Street Honolulu HI 1 Hawaii Land and Easement 34 100.0% 253 1,777 1,776 12/5/2003 — 76 2806 Kaihikapu Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 274 1,801 1,801 12/5/2003 — 77 2808 Kam Highway Honolulu HI 1 Hawaii Land and Easement 13 100.0% 102 310 310 12/5/2003 — 78 2809 Kaihikapu Street Honolulu HI 1 Hawaii Land and Easement 36 100.0% 273 1,837 1,837 12/5/2003 — 79 2810 Paa Street Honolulu HI 1 Hawaii Land and Easement 52 100.0% 414 3,340 3,340 12/5/2003 — 80 2810 Pukoloa Street Honolulu HI 1 Hawaii Land and Easement 412 100.0% 2,644 27,703 27,703 12/5/2003 — 81 2812 Awaawaloa Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 271 1,804 1,802 12/5/2003 — 82 2814 Kilihau Street Honolulu HI 1 Hawaii Land and Easement 37 100.0% 278 1,925 1,925 12/5/2003 — 83 2815 Kaihikapu Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 208 1,823 1,822 12/5/2003 — 84 2815 Kilihau Street Honolulu HI 1 Hawaii Land and Easement 12 100.0% 95 287 287 12/5/2003 — 85 2816 Awaawaloa Street Honolulu HI 1 Hawaii Land and Easement 44 100.0% 234 1,036 1,026 12/5/2003 — 86 2819 Mokumoa Street - A Honolulu HI 1 Hawaii Land and Easement 35 100.0% 270 1,821 1,821 12/5/2003 — 87 2819 Mokumoa Street - B Honolulu HI 1 Hawaii Land and Easement 35 100.0% 266 1,816 1,816 12/5/2003 — 88 2819 Pukoloa Street Honolulu HI 1 Hawaii Land and Easement 40 100.0% 281 2,123 2,115 12/5/2003 — 89 2821 Kilihau Street Honolulu HI 1 Hawaii Land and Easement 12 100.0% 97 287 287 12/5/2003 — 90 2826 Kaihikapu Street Honolulu HI 1 Hawaii Land and Easement 70 100.0% 427 3,921 3,921 12/5/2003 — 91 2827 Kaihikapu Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 269 1,801 1,801 12/5/2003 — 92 2828 Paa Street Honolulu HI 1 Hawaii Land and Easement 187 100.0% 1,494 12,448 12,448 12/5/2003 —

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 40 PROPERT Y DE TAI L (CONTINUED ) PROPERTY DETAIL (CONTINUED) (dollars and square feet in thousands) EXHIBIT AAs of March 31, 2018 (1) We define annualized rental revenues as the annualized contractual rents, as of March 31, 2018, including straight line rent adjustments and excluding lease value amortization, adjusted for tenant concessions including free rent and amounts reimbursed to tenants, plus estimated recurring expense reimbursements from tenants. (2) Excludes the value of real estate intangibles. (3) Date acquired is the date SIR or SIR's former parent entity acquired the property. Number of Year Buildings, Annualized Built or Land Parcels Property Rental Undepreciated Depreciated Date Most Recent Property City State and Easements Type Square Feet % Leased Revenues (1) Carrying Value (2) Carrying Value (2) Acquired (3) Renovation 93 2829 Awaawaloa Street Honolulu HI 1 Hawaii Land and Easement 70 100.0% 517 1,722 1,720 12/5/2003 — 94 2829 Kilihau Street Honolulu HI 1 Hawaii Land and Easement 12 100.0% 95 287 287 12/5/2003 — 95 2829 Pukoloa Street Honolulu HI 1 Hawaii Land and Easement 40 100.0% 297 2,088 2,088 12/5/2003 — 96 2830 Mokumoa Street Honolulu HI 1 Hawaii Land and Easement 40 100.0% 292 2,146 2,146 12/5/2003 — 97 2831 Awaawaloa Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 267 860 860 12/5/2003 — 98 2831 Kaihikapu Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 207 1,857 1,649 12/5/2003 — 99 2833 Kilihau Street Honolulu HI 1 Hawaii Land and Easement 12 100.0% 96 601 601 12/5/2003 — 100 2833 Paa Street Honolulu HI 1 Hawaii Land and Easement 30 100.0% 287 1,701 1,701 12/5/2003 — 101 2833 Paa Street #2 Honolulu HI 1 Hawaii Land and Easement 30 100.0% 287 1,675 1,675 12/5/2003 — 102 2836 Awaawaloa Street Honolulu HI 1 Hawaii Land and Easement 26 100.0% 142 1,353 1,353 12/5/2003 — 103 2838 Kilihau Street Honolulu HI 1 Hawaii Land and Easement 83 100.0% 646 4,262 4,262 12/5/2003 — 104 2839 Kilihau Street Honolulu HI 1 Hawaii Land and Easement 12 100.0% 106 627 627 12/5/2003 — 105 2839 Mokumoa Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 232 1,942 1,942 12/5/2003 — 106 2840 Mokumoa Street Honolulu HI 1 Hawaii Land and Easement 40 100.0% 298 2,149 2,149 12/5/2003 — 107 2841 Pukoloa Street Honolulu HI 1 Hawaii Land and Easement 40 100.0% 308 2,088 2,088 12/5/2003 — 108 2844 Kaihikapu Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 255 1,974 1,963 12/5/2003 — 109 2846-A Awaawaloa Street Honolulu HI 1 Hawaii Land and Easement 61 100.0% 467 3,135 2,794 12/5/2003 — 110 2847 Awaawaloa Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 351 885 777 12/5/2003 — 111 2849 Kaihikapu Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 275 860 860 12/5/2003 — 112 2850 Awaawaloa Street Honolulu HI 1 Hawaii Land and Easement 9 100.0% 65 459 397 12/5/2003 — 113 2850 Mokumoa Street Honolulu HI 1 Hawaii Land and Easement 40 100.0% 300 2,143 2,143 12/5/2003 — 114 2850 Paa Street Honolulu HI 1 Hawaii Land and Easement 298 100.0% 2,119 22,827 22,827 12/5/2003 — 115 2855 Kaihikapu Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 314 1,807 1,807 12/5/2003 — 116 2855 Pukoloa Street Honolulu HI 1 Hawaii Land and Easement 40 100.0% 285 1,934 1,934 12/5/2003 — 117 2857 Awaawaloa Street Honolulu HI 1 Hawaii Land and Easement 40 100.0% 306 983 983 12/5/2003 — 118 2858 Kaihikapu Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 273 1,801 1,801 12/5/2003 — 119 2861 Mokumoa Street Honolulu HI 1 Hawaii Land and Easement 70 100.0% 423 3,867 3,867 12/5/2003 — 120 2864 Awaawaloa Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 281 1,842 1,839 12/5/2003 — 121 2864 Mokumoa Street Honolulu HI 1 Hawaii Land and Easement 40 100.0% 268 2,092 2,092 12/5/2003 — 122 2865 Pukoloa Street Honolulu HI 1 Hawaii Land and Easement 40 100.0% 294 1,934 1,934 12/5/2003 — 123 2868 Kaihikapu Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 372 1,801 1,801 12/5/2003 —

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 41 PROPERT Y DE TAI L (CONTINUED ) PROPERTY DETAIL (CONTINUED) (dollars and square feet in thousands) EXHIBIT AAs of March 31, 2018 (1) We define annualized rental revenues as the annualized contractual rents, as of March 31, 2018, including straight line rent adjustments and excluding lease value amortization, adjusted for tenant concessions including free rent and amounts reimbursed to tenants, plus estimated recurring expense reimbursements from tenants. (2) Excludes the value of real estate intangibles. (3) Date acquired is the date SIR or SIR's former parent entity acquired the property. Number of Year Buildings, Annualized Built or Land Parcels Property Rental Undepreciated Depreciated Date Most Recent Property City State and Easements Type Square Feet % Leased Revenues (1) Carrying Value (2) Carrying Value (2) Acquired (3) Renovation 124 2869 Mokumoa Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 282 1,794 1,794 12/5/2003 — 125 2875 Paa Street Honolulu HI 1 Hawaii Land and Easement 23 100.0% 227 1,330 1,330 12/5/2003 — 126 2879 Mokumoa Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 272 1,789 1,789 12/5/2003 — 127 2879 Paa Street Honolulu HI 1 Hawaii Land and Easement 31 100.0% 224 1,735 1,725 12/5/2003 — 128 2886 Paa Street Honolulu HI 1 Hawaii Land and Easement 60 100.0% 698 2,205 2,205 12/5/2003 — 129 2889 Mokumoa Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 280 1,783 1,783 12/5/2003 — 130 2906 Kaihikapu Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 290 1,816 1,815 12/5/2003 — 131 2908 Kaihikapu Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 356 1,810 1,809 12/5/2003 — 132 2915 Kaihikapu Street Honolulu HI 1 Hawaii Land and Easement 105 100.0% 850 2,579 2,579 12/5/2003 — 133 2927 Mokumoa Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 263 1,778 1,778 12/5/2003 — 134 2928 Kaihikapu Street - A Honolulu HI 1 Hawaii Land and Easement 35 100.0% 271 1,801 1,801 12/5/2003 — 135 2928 Kaihikapu Street - B Honolulu HI 1 Hawaii Land and Easement 38 100.0% 285 1,948 1,948 12/5/2003 — 136 2960 Mokumoa Street Honolulu HI 1 Hawaii Land and Easement 38 100.0% 314 1,977 1,977 12/5/2003 — 137 2965 Mokumoa Street Honolulu HI 1 Hawaii Land and Easement 42 100.0% 333 2,140 2,140 12/5/2003 — 138 2969 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 80 100.0% 366 4,053 4,045 12/5/2003 — 139 2970 Mokumoa Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 286 1,722 1,722 12/5/2003 — 140 33 S. Vineyard Boulevard Honolulu HI 1 Hawaii Land and Easement 12 100.0% 107 850 845 12/5/2003 — 141 525 N. King Street Honolulu HI 1 Hawaii Land and Easement 21 100.0% 237 1,342 1,342 12/5/2003 — 142 609 Ahua Street Honolulu HI 1 Hawaii Land and Easement 24 100.0% 210 624 619 12/5/2003 — 143 619 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 55 100.0% 523 1,415 1,414 12/5/2003 — 144 645 Ahua Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 260 882 882 12/5/2003 — 145 659 Ahua Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 255 880 865 12/5/2003 — 146 659 Puuloa Road Honolulu HI 1 Hawaii Land and Easement 35 100.0% 270 1,807 1,807 12/5/2003 — 147 660 Ahua Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 192 1,787 1,784 12/5/2003 — 148 667 Puuloa Road Honolulu HI 1 Hawaii Land and Easement 35 100.0% 285 862 860 12/5/2003 — 149 669 Ahua Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% — 1,898 1,859 12/5/2003 — 150 673 Ahua Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 257 1,801 1,801 12/5/2003 — 151 675 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 30 100.0% 218 1,081 1,081 12/5/2003 — 152 679 Puuloa Road Honolulu HI 1 Hawaii Land and Easement 35 100.0% 270 1,810 1,808 12/5/2003 — 153 685 Ahua Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 266 1,801 1,801 12/5/2003 — 154 673 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 270 1,821 1,806 12/5/2003 —

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 42 PROPERT Y DE TAI L (CONTINUED ) PROPERTY DETAIL (CONTINUED) (dollars and square feet in thousands) EXHIBIT AAs of March 31, 2018 (1) We define annualized rental revenues as the annualized contractual rents, as of March 31, 2018, including straight line rent adjustments and excluding lease value amortization, adjusted for tenant concessions including free rent and amounts reimbursed to tenants, plus estimated recurring expense reimbursements from tenants. (2) Excludes the value of real estate intangibles. (3) Date acquired is the date SIR or SIR's former parent entity acquired the property. Number of Year Buildings, Annualized Built or Land Parcels Property Rental Undepreciated Depreciated Date Most Recent Property City State and Easements Type Square Feet % Leased Revenues (1) Carrying Value (2) Carrying Value (2) Acquired (3) Renovation 155 692 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 296 1,798 1,798 12/5/2003 — 156 697 Ahua Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 297 1,805 1,514 12/5/2003 — 157 702 Ahua Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 264 1,787 1,784 12/5/2003 — 158 704 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 59 100.0% 462 3,075 2,830 12/5/2003 — 159 709 Ahua Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 323 1,801 1,801 12/5/2003 — 160 719 Ahua Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 291 1,960 1,960 12/5/2003 — 161 729 Ahua Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 227 1,801 1,801 12/5/2003 — 162 733 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 65 100.0% 666 3,403 3,403 12/5/2003 — 163 739 Ahua Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 233 1,801 1,801 12/5/2003 — 164 759 Puuloa Road Honolulu HI 1 Hawaii Land and Easement 34 100.0% 263 1,769 1,767 12/5/2003 — 165 761 Ahua Street Honolulu HI 1 Hawaii Land and Easement 73 100.0% 540 3,759 3,758 12/5/2003 — 166 766 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 274 1,801 1,801 12/5/2003 — 167 770 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 339 1,801 1,801 12/5/2003 — 168 789 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 47 100.0% 254 2,611 2,609 12/5/2003 — 169 80 Sand Island Access Road Honolulu HI 1 Hawaii Land and Easement 191 100.0% 1,539 7,972 7,972 12/5/2003 — 170 803 Ahua Street Honolulu HI 1 Hawaii Land and Easement 73 100.0% 707 3,804 3,804 12/5/2003 — 171 808 Ahua Street Honolulu HI 1 Hawaii Land and Easement 57 100.0% 499 3,279 3,279 12/5/2003 — 172 812 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 262 2,613 2,613 12/5/2003 — 173 819 Ahua Street Honolulu HI 1 Hawaii Land and Easement 105 100.0% 1,024 5,434 5,216 12/5/2003 — 174 822 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 316 1,810 1,799 12/5/2003 — 175 830 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 268 1,826 1,807 12/5/2003 — 176 841 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 63 100.0% 494 3,265 3,265 12/5/2003 — 177 842 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 309 1,809 1,798 12/5/2003 — 178 846 Ala Lilikoi Boulevard B Honolulu HI 1 Hawaii Land and Easement 8 100.0% 41 234 234 12/5/2003 — 179 848 Ala Lilikoi Boulevard A Honolulu HI 1 Hawaii Land and Easement 326 100.0% 1,681 9,426 9,426 12/5/2003 — 180 850 Ahua Street Honolulu HI 1 Hawaii Land and Easement 48 100.0% 261 2,684 2,682 12/5/2003 — 181 852 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 273 1,801 1,801 12/5/2003 — 182 855 Ahua Street Honolulu HI 1 Hawaii Land and Easement 35 100.0% 212 1,834 1,834 12/5/2003 — 183 865 Ahua Street Honolulu HI 1 Hawaii Land and Easement 36 100.0% 307 1,846 1,846 12/5/2003 — 184 889 Ahua Street Honolulu HI 1 Hawaii Land and Easement 49 100.0% 406 6,203 6,161 11/21/2012 — 185 905 Ahua Street Honolulu HI 1 Hawaii Land and Easement 21 100.0% 167 1,148 1,148 12/5/2003 —

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 43 PROPERT Y DE TAI L (CONTINUED ) PROPERTY DETAIL (CONTINUED) (dollars and square feet in thousands) EXHIBIT AAs of March 31, 2018 (1) We define annualized rental revenues as the annualized contractual rents, as of March 31, 2018, including straight line rent adjustments and excluding lease value amortization, adjusted for tenant concessions including free rent and amounts reimbursed to tenants, plus estimated recurring expense reimbursements from tenants. (2) Excludes the value of real estate intangibles. (3) Date acquired is the date SIR or SIR's former parent entity acquired the property. Number of Year Buildings, Annualized Built or Land Parcels Property Rental Undepreciated Depreciated Date Most Recent Property City State and Easements Type Square Feet % Leased Revenues (1) Carrying Value (2) Carrying Value (2) Acquired (3) Renovation 186 918 Ahua Street Honolulu HI 1 Hawaii Land and Easement 72 100.0% 454 3,820 3,820 12/5/2003 — 187 930 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 69 100.0% 509 3,654 3,654 12/5/2003 — 188 944 Ahua Street Honolulu HI 1 Hawaii Land and Easement 27 100.0% 205 1,219 1,219 12/5/2003 — 189 949 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 237 100.0% 1,597 11,568 11,568 12/5/2003 — 190 950 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 33 100.0% 258 1,724 1,724 12/5/2003 — 191 960 Ahua Street Honolulu HI 1 Hawaii Land and Easement 14 100.0% 92 614 614 12/5/2003 — 192 960 Mapunapuna Street Honolulu HI 1 Hawaii Land and Easement 37 100.0% 305 1,933 1,933 12/5/2003 — 193 970 Ahua Street Honolulu HI 1 Hawaii Land and Easement 15 100.0% 125 817 817 12/5/2003 — 194 91-027 Kaomi Loop Kapolei HI 1 Hawaii Land and Easement 214 100.0% 282 2,667 2,667 6/15/2005 — 195 91-064 Kaomi Loop Kapolei HI 1 Hawaii Land and Easement 99 100.0% 321 1,826 1,826 6/15/2005 — 196 91-080 Hanua Kapolei HI 1 Hawaii Land and Easement 217 100.0% 501 2,187 2,187 6/15/2005 — 197 91-083 Hanua Kapolei HI 1 Hawaii Land and Easement 47 100.0% 126 716 716 6/15/2005 — 198 91-086 Kaomi Loop Kapolei HI 1 Hawaii Land and Easement 1,242 100.0% 1,809 13,884 13,884 6/15/2005 — 199 91-087 Hanua Kapolei HI 1 Hawaii Land and Easement 22 100.0% 68 381 381 6/15/2005 — 200 91-091 Hanua Kapolei HI 1 Hawaii Land and Easement 41 100.0% 103 552 552 6/15/2005 — 201 91-102 Kaomi Loop Kapolei HI 1 Hawaii Land and Easement 99 100.0% 249 1,599 1,599 6/15/2005 — 202 91-110 Kaomi Loop Kapolei HI 1 Hawaii Land and Easement 99 100.0% 232 1,293 1,293 6/15/2005 — 203 91-119 Olai Kapolei HI 1 Hawaii Land and Easement 98 100.0% 225 1,981 1,981 6/15/2005 — 204 91-141 Kalaeloa Kapolei HI 1 Hawaii Land and Easement 910 100.0% 1,693 11,624 11,624 6/15/2005 — 205 91-150 Kaomi Loop Kapolei HI 1 Hawaii Land and Easement 250 100.0% 421 3,159 3,159 6/15/2005 — 206 91-171 Olai Kapolei HI 1 Hawaii Land and Easement 24 100.0% 52 265 265 6/15/2005 — 207 91-174 Olai Kapolei HI 1 Hawaii Land and Easement 58 100.0% 146 1,009 995 6/15/2005 — 208 91-175 Olai Kapolei HI 1 Hawaii Land and Easement 48 100.0% 71 1,286 1,271 6/15/2005 — 209 91-185 Kalaeloa Kapolei HI 1 Hawaii Land and Easement 122 100.0% 236 1,761 1,761 6/15/2005 — 210 91-202 Kalaeloa Kapolei HI 1 Hawaii Building 84 100.0% 364 2,048 2,009 6/15/2005 1964 211 91-210 Kauhi Kapolei HI 1 Hawaii Land and Easement 44 100.0% 122 567 567 6/15/2005 — 212 91-210 Olai Kapolei HI 1 Hawaii Land and Easement 54 100.0% 140 706 706 6/15/2005 — 213 91-218 Olai Kapolei HI 1 Hawaii Land and Easement 107 100.0% 206 1,683 1,669 6/15/2005 — 214 91-220 Kalaeloa Kapolei HI 1 Hawaii Building 23 100.0% 317 1,871 1,368 6/15/2005 1991 215 91-222 Olai Kapolei HI 1 Hawaii Land and Easement 158 100.0% 378 2,035 2,035 6/15/2005 — 216 91-238 Kauhi Kapolei HI 1 Hawaii Building 85 100.0% 1,334 10,599 8,167 6/15/2005 1981 217 91-241 Kalaeloa Kapolei HI 1 Hawaii Building 45 100.0% 651 5,245 3,776 6/15/2005 1990

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 44 PROPERT Y DE TAI L (CONTINUED ) PROPERTY DETAIL (CONTINUED) (dollars and square feet in thousands) EXHIBIT AAs of March 31, 2018 (1) We define annualized rental revenues as the annualized contractual rents, as of March 31, 2018, including straight line rent adjustments and excluding lease value amortization, adjusted for tenant concessions including free rent and amounts reimbursed to tenants, plus estimated recurring expense reimbursements from tenants. (2) Excludes the value of real estate intangibles. (3) Date acquired is the date SIR or SIR's former parent entity acquired the property. (4) Excludes annual tenant percentage rent generally received and recognized during the first quarter of each year for the previous year. Percentage rent recognized during the first quarter of 2018 totaled $941. (5) Land parcels include four easements. Number of Year Buildings, Annualized Built or Land Parcels Property Rental Undepreciated Depreciated Date Most Recent Property City State and Easements Type Square Feet % Leased Revenues (1) Carrying Value (2) Carrying Value (2) Acquired (3) Renovation 218 91-250 Komohana Kapolei HI 1 Hawaii Land and Easement 107 100.0% 300 1,506 1,506 6/15/2005 — 219 91-252 Kauhi Kapolei HI 1 Hawaii Land and Easement 43 100.0% 105 536 536 6/15/2005 — 220 91-255 Hanua Kapolei HI 1 Hawaii Land and Easement 95 100.0% 218 1,274 1,248 6/15/2005 — 221 91-259 Olai Kapolei HI 1 Hawaii Land and Easement 131 100.0% 283 2,944 2,944 6/15/2005 — 222 91-265 Hanua Kapolei HI 1 Hawaii Land and Easement 95 100.0% 222 1,569 1,569 6/15/2005 — 223 91-300 Hanua Kapolei HI 1 Hawaii Land and Easement 107 100.0% 218 1,381 1,381 6/15/2005 — 224 91-329 Kauhi Kapolei HI 1 Hawaii Building 48 100.0% 728 4,873 3,648 6/15/2005 2013 225 91-349 Kauhi Kapolei HI 1 Hawaii Land and Easement 48 100.0% 119 649 649 6/15/2005 — 226 91-399 Kauhi Kapolei HI 1 Hawaii Land and Easement 2,236 100.0% 2,661 27,405 27,405 6/15/2005 — 227 91-400 Komohana Kapolei HI 1 Hawaii Land and Easement 96 100.0% 236 1,494 1,494 6/15/2005 — 228 91-410 Komohana Kapolei HI 1 Hawaii Land and Easement 21 100.0% 52 430 430 6/15/2005 — 229 91-416 Komohana Kapolei HI 1 Hawaii Land and Easement 27 100.0% 69 724 724 6/15/2005 — 230 AES HI Easement Kapolei HI 1 Hawaii Land and Easement (5) — —% — 1,250 1,250 6/15/2005 — 231 Other Easements & Lots Kapolei HI 1 Hawaii Land and Easement (5) — —% — 1,604 1,302 6/15/2005 — 232 Tesaro 967 Easement Kapolei HI 1 Hawaii Land and Easement (4) (5) — —% — 6,593 6,593 6/15/2005 — 233 Texaco Easement Kapolei HI 1 Hawaii Land and Easement (5) — —% — 2,653 2,653 6/15/2005 — 234 94-240 Pupuole Street Waipahu HI 1 Hawaii Land and Easement 44 100.0% 252 717 717 12/5/2003 — 235 5500 SE Delaware Avenue Ankeny IA 1 Mainland Industrial 451 100.0% 1,682 19,193 17,848 1/29/2015 2012 236 951 Trails Road Eldridge IA 1 Mainland Industrial 173 100.0% 1,027 8,695 6,529 4/2/2007 2001 237 2300 N 33rd Avenue East Newton IA 1 Mainland Industrial 318 100.0% 1,458 14,140 10,936 9/29/2008 2008 238 7121 South Fifth Avenue Pocatello ID 1 Mainland Industrial 33 100.0% 370 4,746 4,409 1/29/2015 2007 239 1230 West 171st Street Harvey IL 1 Mainland Industrial 40 100.0% 442 2,473 2,340 1/29/2015 2004 240 5156 American Road Rockford IL 1 Mainland Industrial 38 100.0% 173 1,929 1,808 1/29/2015 1996 241 17200 Manchac Park Lane Baton Rouge LA 1 Mainland Industrial 125 100.0% 889 10,560 9,858 1/29/2015 2014 242 209 South Bud Street Lafayette LA 1 Mainland Industrial 60 100.0% 511 5,258 4,898 1/29/2015 2010 243 4000 Principio Parkway North East MD 1 Mainland Industrial 1,196 100.0% 5,908 76,346 70,680 1/29/2015 2012 244 3800 Midlink Drive Kalamazoo MI 1 Mainland Industrial 158 100.0% 2,184 43,229 40,015 1/29/2015 2014 245 2401 Cram Avenue SE Bemidji MN 1 Mainland Industrial 22 100.0% 183 2,237 2,068 1/29/2015 2013 246 110 Stanbury Industrial Drive Brookfield MO 1 Mainland Industrial 16 100.0% 190 2,059 1,912 1/29/2015 2012 247 628 Patton Avenue Asheville NC 1 Mainland Industrial 33 100.0% 203 2,014 1,894 1/29/2015 1994 248 3900 NE 6th Street Minot ND 1 Mainland Industrial 24 100.0% 349 3,923 3,668 1/29/2015 2013

Industrial Logistics Properties Trust Supplemental Operating and Financial Data, March 31, 2018 45 PROPERT Y DE TAI L (CONTINUED ) PROPERTY DETAIL (CONTINUED) (dollars and square feet in thousands) EXHIBIT AAs of March 31, 2018 (1) We define annualized rental revenues as the annualized contractual rents, as of March 31, 2018, including straight line rent adjustments and excluding lease value amortization, adjusted for tenant concessions including free rent and amounts reimbursed to tenants, plus estimated recurring expense reimbursements from tenants. (2) Excludes the value of real estate intangibles. (3) Date acquired is the date SIR or SIR's former parent entity acquired the property. Number of Year Buildings, Annualized Built or Land Parcels Property Rental Undepreciated Depreciated Date Most Recent Property City State and Easements Type Square Feet % Leased Revenues (1) Carrying Value (2) Carrying Value (2) Acquired (3) Renovation 249 1415 West Commerce Way Lincoln NE 1 Mainland Industrial 222 100.0% 1,094 10,718 10,043 1/29/2015 2000 250 309 Dulty's Lane Burlington NJ 1 Mainland Industrial 634 100.0% 3,387 53,000 48,930 1/29/2015 2001 251 725 Darlington Avenue Mahwah NJ 1 Mainland Industrial 167 100.0% 2,250 18,637 17,668 4/9/2014 2010 252 2375 East Newlands Road Fernley NV 1 Mainland Industrial 338 100.0% 1,473 18,700 17,304 1/29/2015 2007 253 55 Commerce Avenue Albany NY 1 Mainland Industrial 125 100.0% 1,114 11,284 10,469 1/29/2015 2013 254 32150 Just Imagine Drive Avon OH 1 Mainland Industrial 645 100.0% 3,479 25,480 20,339 5/29/2009 2000 255 1415 Industrial Drive Chillicothe OH 1 Mainland Industrial 44 100.0% 362 4,465 4,206 1/29/2015 2012 256 5300 Centerpoint Parkway Groveport OH 1 Mainland Industrial 581 100.0% 2,875 32,563 30,199 1/29/2015 2014 257 200 Orange Point Drive Lewis Center OH 1 Mainland Industrial 125 100.0% 1,045 9,913 9,231 1/29/2015 2013 258 301 Commerce Drive South Point OH 1 Mainland Industrial 75 100.0% 487 5,130 4,771 1/29/2015 2013 259 2820 State Highway 31 McAlester OK 1 Mainland Industrial 59 100.0% 787 7,270 7,034 1/29/2015 2017 260 996 Paragon Way Rock Hill SC 1 Mainland Industrial 945 100.0% 3,054 38,520 35,676 1/29/2015 2014 261 510 John Dodd Road Spartanburg SC 1 Mainland Industrial 1,016 100.0% 4,640 61,298 56,707 1/29/2015 2012 262 4836 Hickory Hill Road Memphis TN 1 Mainland Industrial 646 100.0% 1,370 12,702 11,799 12/23/2014 2007 263 2020 Joe B. Jackson Parkway Murfreesboro TN 1 Mainland Industrial 1,016 100.0% 4,998 62,759 58,385 1/29/2015 2012 264 1095 South 4800 West Salt Lake City UT 1 Mainland Industrial 150 100.0% 1,071 8,413 7,866 1/29/2015 2012 265 1901 Meadowville Technology Parkway Chester VA 1 Mainland Industrial 1,016 100.0% 6,283 71,511 66,166 1/29/2015 2012 266 181 Battaile Drive Winchester VA 1 Mainland Industrial 308 100.0% 1,469 14,341 10,496 4/20/2006 1987 266 28,540 $ 156,508 $ 1,344,139 $ 1,265,047

Industrial Logistics Properties Trust - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - April 27, 2018

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Industrial Logistics Properties Trust Reports