ilptearningspresentation

Financial Results and Supplemental Information July 29, 2026 SECOND QUARTER 2026 Exhibit 99.2

2Q2 2026RETURN TO TABLE OF CONTENTS QUARTERLY RESULTS Industrial Logistics Properties Trust Announces Second Quarter 2026 Financial Results .................................................................... 4 Second Quarter 2026 Highlights ...................................................................................................................................................................... 5 Third Quarter and Full Year 2026 Guidance .................................................................................................................................................. 6 FINANCIALS Key Financial Data ............................................................................................................................................................................................... 8 Condensed Consolidated Statements of Income (Loss) .............................................................................................................................. 9 Condensed Consolidated Balance Sheets ..................................................................................................................................................... 10 Debt Summary and Maturity Schedule ............................................................................................................................................................ 11 Leverage and Coverage Ratios ......................................................................................................................................................................... 12 Capital Expenditures Summary ......................................................................................................................................................................... 13 PORTFOLIO INFORMATION Same Property Results ........................................................................................................................................................................................ 15 Occupancy and Leasing Summary ................................................................................................................................................................... 16 Tenant Credit Characteristics and Concentration ......................................................................................................................................... 17 Portfolio Lease Expiration and Reset Schedules ........................................................................................................................................... 18 Key Financial Data by Investment Portfolio .................................................................................................................................................... 19 JOINT VENTURES Consolidated Joint Venture - Mountain Industrial REIT LLC ....................................................................................................................... 21 - 24 Unconsolidated Joint Venture - The Industrial Fund REIT LLC ................................................................................................................... 25 APPENDIX Calculation and Reconciliation of Non-GAAP Financial Measures ............................................................................................................ 27 - 30 Company Profile, Research Coverage and Governance Information ....................................................................................................... 31 Non-GAAP Financial Measures and Certain Definitions .............................................................................................................................. 32 - 34 WARNING CONCERNING FORWARD-LOOKING STATEMENTS 35 Table of Contents All amounts in this presentation are unaudited. Please refer to Non-GAAP Financial Measures and Certain Definitions for terms used throughout this document. Trading Symbols: Common Shares: ILPT Investor Relations Contact Kevin Barry, Senior Director (617) 219-1489 kbarry@ilptreit.com Corporate Headquarters Two Newton Place 255 Washington Street, Suite 300 Newton, Massachusetts 02458-1634

3Q2 2026RETURN TO TABLE OF CONTENTS Quarterly Results

4Q2 2026RETURN TO TABLE OF CONTENTS TO BE PROVIDED Yael Duffy President and Chief Executive Officer INDUSTRIAL LOGISTICS PROPERTIES TRUST ANNOUNCES SECOND QUARTER 2026 FINANCIAL RESULTS Newton, MA (July 29, 2026): Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced its financial results for the quarter ended June 30, 2026. Distribution On July 9, 2026, ILPT declared a quarterly distribution on its common shares of $0.10 per share to shareholders of record as of the close of business on July 20, 2026. This distribution will be paid on or about August 13, 2026. Conference Call A conference call to discuss ILPT's second quarter results will be held on Thursday, July 30, 2026 at 10:00 a.m. Eastern Time. The conference call may be accessed by dialing (877) 418-4826 or (412) 902-6758 (if calling from outside the United States and Canada); a pass code is not required. A replay of the conference call will be available for one week by dialing (855) 669-9658; the replay pass code is 6713740. A live audio webcast of the conference call will also be available in a listen-only mode on ILPT’s website, at www.ilptreit.com. The archived webcast will be available for replay on ILPT’s website after the call. The transcription, recording and retransmission in any way of ILPT's second quarter conference call are strictly prohibited without the prior written consent of ILPT. About Industrial Logistics Properties Trust ILPT is a real estate investment trust, or REIT, focused on owning and leasing high quality industrial and logistics properties. As of June 30, 2026, ILPT’s portfolio consisted of 409 properties containing approximately 59.6 million rentable square feet located in 39 states. Approximately 79% of ILPT’s annualized rental revenues as of June 30, 2026 are derived from investment grade tenants, tenants that are subsidiaries of investment grade rated entities or Hawaii land leases. ILPT is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of June 30, 2026 and 40 years of institutional experience in buying, selling, financing and operating commercial real estate. ILPT is headquartered in Newton, MA. For more information, visit www.ilptreit.com. “ILPT delivered a solid second quarter, driven by exceptional leasing execution and meaningful earnings growth. During the quarter, we completed nearly 5.4 million square feet of leasing at a weighted average rent roll-up of more than 35%, marking our seventh consecutive quarter of double-digit rent growth. The leasing of two previously vacant properties in Indiana and Hawaii, totaling approximately 2.8 million square feet, lifted portfolio occupancy to over 99% with a weighted average lease term of eight years. Same property Cash Basis NOI increased 2.0%, and Normalized FFO per share grew 48% to $0.31, year over year. Additionally, we completed the refinancing of our remaining variable rate debt, eliminating our exposure to rising interest rates and leaving ILPT with no debt maturities until 2029. Based on the strength of our operational performance and improved cash flow, our Board doubled ILPT's quarterly dividend to $0.10 per share in July. Looking ahead, we remain focused on capturing embedded rent growth across our portfolio and creating long-term value for our shareholders." Yael Duffy President and Chief Executive Officer

5Q2 2026RETURN TO TABLE OF CONTENTS Portfolio Update • Executed approximately 5,400,000 square feet of total leasing activity at weighted average rental rates that were 35.4% higher than prior rental rates for the same space and with a weighted average lease term (by annualized rental revenues) of 26.5 years. • Leasing activity includes new absorption of 2,769,900 square feet across two previously vacant properties in Indiana and Hawaii, contributing to a 4.5% net increase in occupancy and bringing portfolio occupancy to 99.1% with a weighted average lease term (by annualized rental revenues) of 8.0 years. Financial Results • Net loss attributable to common shareholders was $14.5 million, or $0.22 per diluted share. • Normalized FFO attributable to common shareholders was $20.8 million, or $0.31 per diluted share, and Adjusted EBITDAre was $87.4 million. • Same property NOI increased by 1.9% to $88.6 million and same property Cash Basis NOI increased by 2.0% to $85.7 million, compared to the second quarter of 2025. Financing, Capital and Liquidity • In May 2026, Mountain JV obtained a $1.62 billion five-year, interest only fixed rate mortgage loan at an interest rate of 5.71%. Mountain JV used these proceeds to refinance $1.4 billion of floating rate mortgage debt due in March 2027 and $0.2 billion of fixed rate amortizing mortgage debt. • Ended the quarter with $135.3 million of cash on hand, excluding restricted cash, to meet ILPT's operating and capital obligations as well as its debt service requirements. • In July 2026, ILPT increased its quarterly cash distribution to common shareholders from $0.05 per share to $0.10 per share. Second Quarter 2026 Highlights (As of and for the three months ended June 30, 2026, unless otherwise noted)

6Q2 2026RETURN TO TABLE OF CONTENTS Q3 2026 Full Year 2026 Low End High End Low End High End NOI $ 91,000 $ 92,000 $ 359,000 $ 364,000 Adjusted EBITDAre $ 87,500 $ 88,500 $ 348,000 $ 353,000 Normalized FFO attributable to common shareholders $ 22,500 $ 23,500 $ 87,000 $ 92,000 Normalized FFO attributable to common shareholders per diluted share $ 0.34 $ 0.36 $ 1.31 $ 1.39 Capital expenditures (2) N/A N/A $ 29,000 $ 34,000 (dollar and share amounts in thousands, except per share data) Third Quarter and Full Year 2026 Guidance (1) (1) ILPT does not provide a reconciliation of non-GAAP measures that it discloses as part of its third quarter and full year guidance because certain significant information required for such reconciliation is not available without unreasonable efforts, or at all, including any recovery or loss on impairment of real estate, any gain or loss on sale of real estate, any loss on extinguishment of debt and equity in earnings or losses of unconsolidated joint venture. These items that would be contained in the comparable GAAP measures are not indicative of ILPT’s ongoing operations, are uncertain, depend on various factors, and could have a material impact on ILPT’s GAAP results for the guidance period. (2) ILPT provides guidance only on full-year capital expenditures, as the timing of expenditures is subject to change and may vary from quarter to quarter. (3) General and administrative expense assumptions exclude the impact of business management incentive fees, if any. Third quarter and full year 2026 guidance is based in part on the following assumptions: • Mid-point general and administrative expense of approximately $8,500 and $33,500, respectively.(3) • Mid-point interest expense of approximately $61,000 and $245,000, respectively. • Weighted average outstanding shares of approximately 66,300 and 66,300, respectively. • No acquisitions or dispositions.

7Q2 2026RETURN TO TABLE OF CONTENTS Financials

8Q2 2026RETURN TO TABLE OF CONTENTS As of and for the Three Months Ended As of 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 Selected Income Statement Data: Capitalization: Rental income $ 114,123 $ 116,419 $ 113,910 $ 110,936 $ 112,097 Total common shares 66,762,231 Net loss $ (23,088) $ (17,859) $ (10,574) $ (30,431) $ (30,394) Closing price $ 8.87 Net loss attributable to common shareholders $ (14,463) $ (9,427) $ (1,780) $ (21,565) $ (21,310) Equity market capitalization $ 592,181 NOI $ 88,596 $ 90,307 $ 88,104 $ 86,950 $ 87,557 Debt 4,221,000 Cash Basis NOI $ 85,711 $ 87,310 $ 85,647 $ 84,749 $ 84,672 Total market capitalization $ 4,813,181 Adjusted EBITDAre $ 87,442 $ 86,994 $ 85,059 $ 84,086 $ 84,968 FFO attributable to common shareholders $ 15,637 $ 20,416 $ 17,915 $ 14,947 $ 7,427 Net Debt: Normalized FFO attributable to common shareholders $ 20,807 $ 21,983 $ 18,878 $ 17,385 $ 13,808 Principal balance $ 4,221,000 CAD attributable to common shareholders $ 6,554 $ 11,130 $ 10,032 $ 11,273 $ 10,500 Cash and cash equivalents (135,326) Rolling four quarter CAD attributable to common shareholders $ 38,989 $ 42,935 $ 43,438 $ 41,102 $ 41,076 Restricted cash and cash equivalents (46,487) Net debt $ 4,039,187 Per Common Share Data (basic and diluted): Net loss attributable to common shareholders $ (0.22) $ (0.14) $ (0.03) $ (0.33) $ (0.32) FFO attributable to common shareholders $ 0.24 $ 0.31 $ 0.27 $ 0.23 $ 0.11 Normalized FFO attributable to common shareholders $ 0.31 $ 0.33 $ 0.29 $ 0.26 $ 0.21 CAD attributable to common shareholders $ 0.10 $ 0.17 $ 0.15 $ 0.17 $ 0.16 Rolling four quarter CAD attributable to common shareholders $ 0.59 $ 0.65 $ 0.66 $ 0.63 $ 0.63 Dividends: Annualized dividends paid per share $ 0.20 $ 0.20 $ 0.20 $ 0.20 $ 0.04 Annualized dividend yield (at end of period) 2.3% 3.5% 3.6% 3.4% 0.9% Annualized Normalized FFO attributable to common shareholders payout ratio 16.1% 15.2% 17.2% 19.2% 4.8% CAD attributable to common shareholders payout ratio 50.0% 29.4% 33.3% 29.4% 6.3% Rolling four quarter CAD attributable to common shareholders payout ratio 33.9% 30.8% 30.3% 31.7% 6.3% Selected Balance Sheet Data: Total cash and cash equivalents $ 135,326 $ 99,500 $ 94,812 $ 83,173 $ 58,559 Total gross assets $ 5,834,342 $ 5,847,063 $ 5,838,254 $ 5,827,389 $ 5,818,254 Total assets $ 5,122,838 $ 5,166,764 $ 5,189,944 $ 5,218,846 $ 5,238,548 Total liabilities $ 4,281,670 $ 4,283,073 $ 4,289,246 $ 4,305,216 $ 4,290,784 Total equity $ 841,168 $ 883,691 $ 900,698 $ 913,630 $ 947,764 (dollars in thousands, except per share data) Key Financial Data Frankfort, KY 599,840 Square Feet ILPT Ownership: 61%

9Q2 2026RETURN TO TABLE OF CONTENTS Condensed Consolidated Statements of Income (Loss) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Rental income $ 114,123 $ 112,097 $ 230,542 $ 224,002 Expenses: Real estate taxes 16,908 15,662 32,922 29,816 Other operating expenses 8,619 8,878 18,717 19,127 Depreciation and amortization 40,766 41,443 81,567 82,961 General and administrative 11,998 9,662 21,462 17,900 Total expenses 78,291 75,645 154,668 149,804 Interest and other income 3,379 2,024 4,423 3,992 Interest expense (61,112) (67,914) (122,814) (137,727) Loss on extinguishment of debt (3,830) (5,070) (3,830) (5,070) Loss before income taxes and equity in earnings of unconsolidated joint venture (25,731) (34,508) (46,347) (64,607) Income tax expense (59) (30) (173) (58) Equity in earnings of unconsolidated joint venture 2,702 4,144 5,573 3,102 Net loss (23,088) (30,394) (40,947) (61,563) Net loss attributable to noncontrolling interests 8,625 9,084 17,057 18,721 Net loss attributable to common shareholders $ (14,463) $ (21,310) $ (23,890) $ (42,842) Weighted average common shares outstanding (basic and diluted) 66,224 65,927 66,201 65,881 Net loss per share attributable to common shareholders (basic and diluted) $ (0.22) $ (0.32) $ (0.36) $ (0.65) (dollars and share amounts in thousands, except per share data) Murfreesboro, TN 1,016,281 Square Feet ILPT Ownership: 100%

10Q2 2026RETURN TO TABLE OF CONTENTS Condensed Consolidated Balance Sheets June 30, December 31, 2026 2025 ASSETS Real estate properties $ 5,184,711 $ 5,179,959 Accumulated depreciation (711,504) (648,310) Total real estate properties, net 4,473,207 4,531,649 Investment in unconsolidated joint venture 135,950 132,753 Acquired real estate leases, net 148,388 164,186 Cash and cash equivalents 135,326 94,812 Restricted cash and cash equivalents 46,487 88,219 Rents receivable 138,960 136,669 Other assets, net 44,520 41,656 Total assets $ 5,122,838 $ 5,189,944 LIABILITIES AND EQUITY Mortgage notes payable, net $ 4,183,749 $ 4,193,194 Accounts payable and other liabilities 78,052 74,571 Assumed real estate lease obligations, net 10,305 11,679 Due to related persons 9,564 9,802 Total liabilities 4,281,670 4,289,246 Commitments and contingencies Equity attributable to common shareholders 461,660 489,697 Noncontrolling interests 379,508 411,001 Total equity 841,168 900,698 Total liabilities and equity $ 5,122,838 $ 5,189,944 (dollars in thousands) Whitsett, NC 286,281 Square Feet ILPT Ownership: 61%

11Q2 2026RETURN TO TABLE OF CONTENTS Interest Principal Maturity Years to Entity Secured By Rate Balance Date Maturity ILPT 186 Hawaii properties 4.31% $ 650,000 02/07/2029 2.6 ILPT 66 mainland and 35 Hawaii properties 6.40% 1,160,000 07/09/2030 4.0 ILPT 17 mainland properties 4.42% 700,000 03/09/2032 5.7 Mountain JV Four mainland properties 6.25% 91,000 06/10/2030 3.9 Mountain JV 90 mainland properties 5.71% 1,620,000 05/11/2031 4.9 5.48% $ 4,221,000 4.4 Debt Summary and Maturity Schedule (1) (dollars in thousands) As of June 30, 2026 Current Maturity Date Pr in ci p al $91,000 $1,620,000 $— $— $650,000 $1,160,000 $700,000 Secured fixed rate debt of ILPT Secured fixed rate debt of Mountain JV 2026 2027 2028 2029 2030 Thereafter $— $500 $1,000 $1,500 $2,000 $2,500 Burlington, NJ 633,836 Square Feet ILPT Ownership: 100% (1) All debt outstanding as of June 30, 2026 consists of fixed rate, interest only borrowings with no scheduled principal amortization prior to maturity.

12Q2 2026RETURN TO TABLE OF CONTENTS As of and for the Three Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 Leverage Ratios: Net debt / total gross assets 69.2% 68.8% 69.0% 69.3% 69.9% Net debt / gross book value of real estate assets 70.7% 70.5% 70.6% 71.2% 71.7% Net debt / total market capitalization 83.9% 87.7% 87.9% 87.7% 89.8% Secured debt / total assets 82.4% 81.5% 81.2% 80.8% 80.6% Fixed rate debt / total debt 100.0% 66.7% 66.8% 66.8% 66.9% Coverage Ratios: Net debt / annualized Adjusted EBITDAre 11.5x 11.6x 11.8x 12.0x 12.0x Adjusted EBITDAre / interest expense 1.4x 1.4x 1.3x 1.3x 1.3x Leverage and Coverage Ratios Hanahan, SC 302,400 Square Feet ILPT Ownership: 100% Charleston, SC 265,318 Square Feet ILPT Ownership: 100%

13Q2 2026RETURN TO TABLE OF CONTENTS (dollars in thousands) For the Three Months Ended For the Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Tenant improvements $ 521 $ 162 $ 1,445 $ 1,019 $ 2,393 $ 683 $ 2,396 Leasing costs 10,322 902 4,114 1,374 300 11,224 3,522 Building improvements 3,391 1,454 1,521 4,344 2,458 4,845 3,192 Total capital expenditures $ 14,234 $ 2,518 $ 7,080 $ 6,737 $ 5,151 $ 16,752 $ 9,110 Capital Expenditures Summary Vance, AL 529,568 Square Feet ILPT Ownership: 100%

14Q2 2026RETURN TO TABLE OF CONTENTS Portfolio Information

15Q2 2026RETURN TO TABLE OF CONTENTS (dollars and sq. ft. in thousands) As of and for the Three Months Ended As of and for the Six Months Ended 6/30/2026 6/30/2025 6/30/2026 6/30/2025 Properties 409 409 409 409 Rentable square feet 59,609 59,604 59,609 59,604 Percent leased 99.1% 94.8% 99.1% 94.8% Rental income $ 114,123 $ 111,340 $ 230,542 $ 223,077 NOI $ 88,603 $ 86,915 $ 178,952 $ 174,421 NOI % change 1.9% 2.6% Cash Basis NOI $ 85,718 $ 84,030 $ 173,070 $ 167,962 Cash Basis NOI % change 2.0% 3.0% Same Property Results Augusta, GA 225,997 Square Feet ILPT Ownership: 61%

16Q2 2026RETURN TO TABLE OF CONTENTS (dollars and sq. ft. in thousands, except per sq. ft. data) As of and for the As of and for the Three Months Ended Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 Properties 409 409 409 411 411 409 Rentable square feet 59,609 59,604 59,604 59,890 59,890 59,609 Percentage leased 99.1% 94.6% 94.5% 94.1% 94.3% 99.1% Leasing Activity (Sq. Ft.): New leases 2,979 135 46 193 44 3,114 Renewals 2,388 605 3,943 583 127 2,993 Rent resets 31 122 — 60 — 153 Total 5,398 862 3,989 836 171 6,260 % Change in GAAP Rent: New leases 74.5% 54.2% 10.3% 14.0% 83.4% 71.9% Renewals 16.1% 15.5% 26.3% 25.8% 16.4% 16.0% Rent resets 48.4% 30.6% —% 25.3% —% 33.7% Weighted average (by sq. ft.) 35.4% 26.3% 25.7% 22.4% 21.1% 33.7% Leasing Costs and Concession Commitments: New leases $ 25,110 $ 617 $ 99 $ 2,339 $ 9 $ 25,727 Renewals 7,181 961 8,266 934 54 8,142 Total $ 32,291 $ 1,578 $ 8,365 $ 3,273 $ 63 $ 33,869 Leasing Costs and Concession Commitments per Sq. Ft.: New leases $ 8.43 $ 4.57 $ 2.16 $ 12.15 $ 0.21 $ 8.26 Renewals $ 3.01 $ 1.59 $ 2.10 $ 1.60 $ 0.42 $ 2.72 Weighted average $ 6.02 $ 2.13 $ 2.10 $ 4.22 $ 0.37 $ 5.55 Weighted Average Lease Term by Sq. Ft. (Years): New leases 42.3 15.2 5.2 9.7 5.0 41.1 Renewals 6.9 3.5 9.3 7.1 5.5 6.2 Weighted average 26.5 5.6 9.3 7.8 5.4 24.0 Leasing Costs and Concession Commitments per Sq. Ft. per Year: New leases $ 0.20 $ 0.30 $ 0.42 $ 1.26 $ 0.04 $ 0.20 Renewals $ 0.43 $ 0.46 $ 0.23 $ 0.22 $ 0.08 $ 0.44 Weighted average $ 0.23 $ 0.38 $ 0.23 $ 0.54 $ 0.07 $ 0.23 Occupancy and Leasing Summary

17Q2 2026RETURN TO TABLE OF CONTENTS As of June 30, 2026 Tenant Credit Characteristics and Concentration % of Total Annualized Top 10 Tenants (1) Rental Revenues 1 FedEx Corporation 27.7% 2 Amazon.com Services, Inc. 7.4% 3 Home Depot U.S.A., Inc. 2.2% 4 Restoration Hardware, Inc. 1.8% 5 OldCo Tire Distributors, Inc. 1.6% 6 T.J. Gomes Trucking Co., Inc. 1.5% 7 Berkshire Hathaway Inc. 1.5% 8 UPS Supply Chain Solutions, Inc. 1.5% 9 Servco Pacific, Inc. 1.3% 10 DHL Group 1.1% Total 47.6% Investment grade tenants and their subsidiaries: 57.5%Other leased Hawaii lands: 21.3% Other unrated or non-investment grade: 21.2% Tenant Credit Characteristics % of Total Annualized Rental Revenues (1) Includes any applicable subsidiaries of named tenants.

18Q2 2026RETURN TO TABLE OF CONTENTS Cumulative Cumulative % of Total % of Total % of Total % of Total Leased Leased Leased Annualized Annualized Annualized No. of Square Feet Square Feet Square Feet Rental Revenues Rental Revenues Rental Revenues Year Leases Expiring Expiring Expiring Expiring Expiring Expiring 2026 11 1,007 1.7% 1.7% $ 5,024 1.1% 1.1% 2027 41 4,706 8.0% 9.7% 32,699 7.1% 8.2% 2028 47 5,176 8.8% 18.5% 41,300 8.9% 17.1% 2029 37 6,931 11.7% 30.2% 45,518 9.9% 27.0% 2030 34 5,450 9.2% 39.4% 41,076 8.9% 35.9% Thereafter 218 35,826 60.6% 100.0% 295,930 64.1% 100.0% Total 388 59,096 100.0% $ 461,547 100.0% Weighted average remaining lease term (years) 8.6 8.0 Portfolio Lease Expiration and Reset Schedules (dollars and sq. ft. in thousands) As of June 30, 2026 Scheduled Rent Resets at Hawaii Properties: 2026 2027 2028 2029 2030 Thereafter Total Reset square feet 154 86 — 1,859 594 582 3,275 Percent (1) 0.9% 0.5% —% 11.2% 3.6% 3.5% Annualized rental revenues $ 1,656 $ 814 $ — $ 8,465 $ 5,900 $ 5,764 $ 22,599 Percent (1) 1.2% 0.6% —% 6.3% 4.4% 4.3% (1) Percentages are based on leased square feet and annualized rental revenues at Hawaii properties only. Rock Hill, SC 945,023 Square Feet ILPT Ownership: 100%

19Q2 2026RETURN TO TABLE OF CONTENTS (dollars and sq. ft. in thousands, except per sq. ft. data) Key Financial Data by Investment Portfolio As of and for the Three Months Ended June 30, 2026 ILPT Wholly Owned Properties Mountain Industrial ILPT Mainland Hawaii Total REIT LLC (1) Other (2) Consolidated Ownership % 100% 100% 100% 61% Properties 88 226 314 94 1 409 Rentable square feet 21,838 16,729 38,567 20,978 64 59,609 Occupancy % 98.2% 99.3% 98.7% 100.0% 100.0% 99.1% Selected Balance Sheet Data: Total gross assets $ 1,774,486 $ 737,190 $ 2,511,676 $ 3,033,660 $ 289,006 $ 5,834,342 Total debt (principal) $ 1,652,886 $ 857,114 $ 2,510,000 $ 1,711,000 $ — $ 4,221,000 Selected Income Statement Data: Rental income $ 40,206 $ 29,144 $ 69,350 $ 44,443 $ 330 $ 114,123 Net (loss) income $ (9,268) $ 8,114 $ (1,154) $ (22,176) $ 242 $ (23,088) Net (loss) income attributable to common shareholders $ (9,268) $ 8,114 $ (1,154) $ (13,526) $ 217 $ (14,463) NOI $ 32,351 $ 21,086 $ 53,437 $ 34,950 $ 209 $ 88,596 Cash Basis NOI $ 30,837 $ 21,114 $ 51,951 $ 33,557 $ 203 $ 85,711 Adjusted EBITDAre $ 29,209 $ 19,782 $ 48,991 $ 33,269 $ 5,182 $ 87,442 Normalized FFO attributable to common shareholders $ 5,157 $ 9,067 $ 14,224 $ 4,208 $ 2,375 $ 20,807 CAD attributable to common shareholders $ (631) $ 5,116 $ 4,485 $ (923) $ 2,992 $ 6,554 Key Ratios: Annualized Cash Basis NOI / total gross assets 7.0% 11.5% 8.3% 4.4% 5.9% Net debt / annualized Adjusted EBITDAre 14.1x 10.8x 12.8x 12.5x 11.5x Select Quarterly Leasing Activity: Leasing activity (sq. ft.): 1,415 2,269 3,684 1,714 — 5,398 % change in GAAP rent (weighted average by sq. ft.): 15.7% 141.6% 50.0% 18.1% —% 35.4% Weighted average lease term by sq. ft. (years): 7.9 52.8 35.4 7.7 — 26.5 (1) With the exception of measures attributable to common shareholders, amounts shown reflect 100% ownership interest of this joint venture, not ILPT's proportionate share thereof. Amounts presented are derived from GAAP information and may not be comparable to amounts reflected in this joint venture's standalone financial information. (2) Other includes data for: 100% ownership interest of one consolidated mainland property containing approximately 64 rentable square feet located in New Jersey in which ILPT has an approximate 67% ownership interest attributable to common shareholders, not ILPT's proportionate share thereof; any corporate assets and liabilities including ILPT's equity investment in its unconsolidated joint venture; any incentive fees paid to RMR; and adjustments to remove the noncontrolling interest of Mountain JV from the balance sheet and income statement data.

20Q2 2026RETURN TO TABLE OF CONTENTS Joint Ventures

21Q2 2026RETURN TO TABLE OF CONTENTS GA: 13.7% TX: 9.9% OH: 9.5% IN: 8.4% NC: 5.6% FL: 4.8%IL: 4.6% MI: 4.6% MS: 4.2% NJ: 3.8% KS: 3.4% 16 Other States: 27.5% Consolidated Joint Venture - Mountain Industrial REIT LLC (dollars in thousands) Square feet expiring 199 1,803 2,333 1,925 3,149 11,569 % of total annualized rental revenues expiring (1) 0.7% 7.0% 10.1% 7.5% 13.2% 61.5% A nn ua liz ed r en ta l r ev en ue s ex p ir in g 2026 2027 2028 2029 2030 Thereafter $— $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 Lease Expiration Schedule As of June 30, 2026 % of Annualized Rental Top 10 Tenants (1) Revenues (2) 1 FedEx Corporation 53.8% 2 Amazon.com Services, Inc. 7.3% 3 Berkshire Hathaway Inc. 4.1% 4 Home Depot U.S.A., Inc. 3.8% 5 Techtronic Industries Company Limited 2.7% 6 Ulta Beauty, Inc. 2.4% 7 Autoneum Holding AG 2.3% 8 DSV Solutions Holding A/S 1.5% 9 Beam Suntory Inc. 1.4% 10 Treehouse Foods, Inc. 1.3% Total 80.6% Geographic Diversification (2) (1) Includes any applicable subsidiaries of named tenants. (2) Based on the aggregate annualized rental revenues of ILPT's consolidated joint venture as of June 30, 2026.

22Q2 2026RETURN TO TABLE OF CONTENTS (dollars and sq. ft. in thousands) ILPT Number of Rentable Joint Venture Ownership Presentation Properties States Square Feet Occupancy Mountain Industrial REIT LLC 61% Consolidated 94 27 20,978 100.0% (1) Amounts shown on this page reflect 100% ownership interest of this joint venture, not ILPT's proportionate share thereof unless otherwise stated. (2) ILPT's proportionate share of the principal amount of debt based on its ownership percentage of Mountain JV as of June 30, 2026 was $1,043,710. None of the debt is recourse to ILPT, subject to certain limitations. As of June 30, 2026 Consolidated Balance Sheets of the Consolidated Joint Venture June 30, 2026 December 31, 2025 ASSETS Real estate properties $ 2,850,798 $ 2,850,170 Accumulated depreciation (341,305) (301,806) Total real estate properties, net 2,509,493 2,548,364 Acquired real estate leases, net 103,409 113,848 Cash, cash equivalents and restricted cash 44,471 85,735 Rents receivable 26,122 25,801 Other assets, net 8,860 9,023 Total assets $ 2,692,355 $ 2,782,771 LIABILITIES Mortgage notes payable, net (2) $ 1,691,706 $ 1,703,365 Other liabilities 35,896 34,121 Total liabilities $ 1,727,602 $ 1,737,486 Noncontrolling interest (39%) $ 376,254 $ 407,661 Consolidated Joint Venture - Mountain Industrial REIT LLC (1) Greenwood, IN 615,284 Square Feet ILPT Ownership: 61%

23Q2 2026RETURN TO TABLE OF CONTENTS Operating Information of the Consolidated Joint Venture (100%) Pro-Rata Operating Information of the Consolidated Joint Venture (ILPT Share) (1) Three Months Ended June 30, Six Months Ended June 30, Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 2026 2025 2026 2025 Rental income $ 44,443 $ 42,643 $ 87,875 $ 84,328 $ 27,110 $ 26,012 $ 53,604 $ 51,440 Real estate taxes 6,273 5,730 12,058 10,558 3,827 3,495 7,356 6,440 Other operating expenses 3,220 3,161 6,263 6,235 1,964 1,928 3,820 3,803 Depreciation and amortization 25,243 25,615 50,602 51,165 15,398 15,625 30,867 31,211 General and administrative 4,205 4,221 8,400 8,159 2,565 2,575 5,124 4,977 Total expenses 38,941 38,727 77,323 76,117 23,754 23,623 47,167 46,431 Interest and other income 2,524 890 3,162 1,787 1,540 543 1,929 1,090 Interest expense (26,345) (28,035) (53,650) (58,008) (16,070) (17,101) (32,726) (35,385) Loss on extinguishment of debt (3,830) — (3,830) — (2,336) — (2,336) — Loss before income taxes (22,149) (23,229) (43,766) (48,010) (13,510) (14,169) (26,696) (29,286) Income tax expense (27) (18) (141) (38) (16) (11) (86) (23) Net loss $ (22,176) $ (23,247) $ (43,907) $ (48,048) $ (13,526) $ (14,180) $ (26,782) $ (29,309) Net loss $ (22,176) $ (23,247) $ (43,907) $ (48,048) $ (13,526) $ (14,180) $ (26,782) $ (29,309) Plus: depreciation and amortization 25,243 25,615 50,602 51,165 15,398 15,625 30,867 31,211 FFO 3,067 2,368 6,695 3,117 1,872 1,445 4,085 1,902 Plus: loss on early extinguishment of debt 3,830 — 3,830 — 2,336 — 2,336 — Normalized FFO $ 6,897 $ 2,368 $ 10,525 $ 3,117 $ 4,208 $ 1,445 $ 6,421 $ 1,902 (dollars in thousands) (1) See page 33 for more information regarding Pro-Rata Operating Information of Consolidated Joint Venture. Consolidated Joint Venture - Mountain Industrial REIT LLC

24Q2 2026RETURN TO TABLE OF CONTENTS Operating Information of the Consolidated Joint Venture (100%) Pro-Rata Operating Information of the Consolidated Joint Venture (ILPT Share) (1) Three Months Ended June 30, Six Months Ended June 30, Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 2026 2025 2026 2025 Normalized FFO $ 6,897 $ 2,368 $ 10,525 $ 3,117 $ 4,208 $ 1,445 $ 6,421 $ 1,902 Plus: non-cash interest expense 1,075 3,807 4,386 9,909 656 2,322 2,676 6,044 Minus: non-cash revenues (1,393) (808) (2,141) (1,828) (850) (493) (1,306) (1,115) Minus: capital expenditures (4,864) (1,870) (5,244) (2,674) (2,967) (1,141) (3,199) (1,632) Minus: principal amortization (3,230) (4,677) (8,037) (9,310) (1,970) (2,853) (4,902) (5,679) CAD $ (1,515) $ (1,180) $ (511) $ (786) $ (923) $ (720) $ (310) $ (480) Net loss $ (22,176) $ (23,247) $ (43,907) $ (48,048) $ (13,526) $ (14,180) $ (26,782) $ (29,309) Plus: interest expense 26,345 28,035 53,650 58,008 16,070 17,101 32,726 35,385 Plus: income tax expense 27 18 141 38 16 11 86 23 Plus: depreciation and amortization 25,243 25,615 50,602 51,165 15,398 15,625 30,867 31,211 EBITDA and EBITDAre $ 29,439 $ 30,421 $ 60,486 $ 61,163 $ 17,958 $ 18,557 $ 36,897 $ 37,310 Plus: loss on early extinguishment of debt 3,830 — 3,830 — 2,336 — 2,336 — Adjusted EBITDAre $ 33,269 $ 30,421 $ 64,316 $ 61,163 $ 20,294 $ 18,557 $ 39,233 $ 37,310 (dollars in thousands) Consolidated Joint Venture - Mountain Industrial REIT LLC (1) See page 33 for more information regarding Pro-Rata Operating Information of Consolidated Joint Venture.

25Q2 2026RETURN TO TABLE OF CONTENTS Unconsolidated Joint Venture - The Industrial Fund REIT LLC (1) As of June 30, 2026 ILPT ILPT Number of Rentable Investment in Joint Venture Ownership Properties States Square Feet Occupancy Joint Venture The Industrial Fund REIT LLC 22% 18 12 11,726 99.3% $ 135,950 Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Rental income $ 21,217 $ 18,673 $ 42,112 $ 38,308 Real estate taxes 2,808 2,914 5,733 5,618 Other operating expenses 2,549 1,888 5,236 4,936 Depreciation and amortization 7,290 7,709 14,960 15,499 General and administrative 1,203 1,020 2,244 1,982 Total expenses 13,850 13,531 28,173 28,035 Interest income 179 154 368 315 Interest expense (6,080) (6,299) (12,100) (12,537) Income (loss) before income taxes 1,466 (1,003) 2,207 (1,949) Income tax expense — (3) (4) (6) Net income (loss) $ 1,466 $ (1,006) $ 2,203 $ (1,955) Distributions received (2) $ 1,188 $ 990 $ 2,376 $ 1,980 Type Secured by Interest Rate Maturity Date Principal Balance Fixed rate - interest only One mainland property 6.96% 11/01/2028 $ 65,000 Floating rate - interest only (3) Six mainland properties 5.30% 10/01/2027 123,700 Fixed rate - interest only 11 mainland properties 3.33% 11/07/2029 350,000 Weighted average / total 4.22% $ 538,700 (1) Amounts shown on this page reflect 100% ownership interest of this joint venture, not ILPT's proportionate share thereof unless otherwise stated. (2) Represents ILPT's distributions from this joint venture. (3) This loan requires that interest be paid at an annual rate of SOFR plus a premium of 1.80%. The Industrial Fund REIT LLC purchased an interest rate cap through October 2027 with a SOFR strike rate equal to 3.50%. Interest rate reflects the impact of such interest rate cap. (dollars and sq. ft. in thousands) Union, OH 1,791,246 Square Feet ILPT Ownership: 22%

26Q2 2026RETURN TO TABLE OF CONTENTS Appendix

27Q2 2026RETURN TO TABLE OF CONTENTS (dollars in thousands) For the Three Months Ended For the Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Calculation of NOI and Cash Basis NOI: Rental income $ 114,123 $ 116,419 $ 113,910 $ 110,936 $ 112,097 $ 230,542 $ 224,002 Real estate taxes (16,908) (16,014) (16,658) (15,205) (15,662) (32,922) (29,816) Other operating expenses (8,619) (10,098) (9,148) (8,781) (8,878) (18,717) (19,127) NOI 88,596 90,307 88,104 86,950 87,557 178,903 175,059 Non-cash revenues (2,885) (2,997) (2,457) (2,201) (2,885) (5,882) (6,607) Cash Basis NOI $ 85,711 $ 87,310 $ 85,647 $ 84,749 $ 84,672 $ 173,021 $ 168,452 Reconciliation of net loss to NOI and Cash Basis NOI: Net loss $ (23,088) $ (17,859) $ (10,574) $ (30,431) $ (30,394) $ (40,947) $ (61,563) Equity in earnings of unconsolidated joint venture (2,702) (2,871) (14,643) (2,236) (4,144) (5,573) (3,102) Income tax expense 59 114 15 31 30 173 58 Loss before income taxes and equity in earnings of unconsolidated joint venture (25,731) (20,616) (25,202) (32,636) (34,508) (46,347) (64,607) Loss on extinguishment of debt 3,830 — — — 5,070 3,830 5,070 Loss on sale of real estate — — 1,376 — — — — Interest expense 61,112 61,702 63,362 63,470 67,914 122,814 137,727 Interest and other income (3,379) (1,044) (1,139) (1,585) (2,024) (4,423) (3,992) Loss on impairment of real estate — — — 6,081 — — — General and administrative 11,998 9,464 8,475 10,586 9,662 21,462 17,900 Depreciation and amortization 40,766 40,801 41,232 41,034 41,443 81,567 82,961 NOI 88,596 90,307 88,104 86,950 87,557 178,903 175,059 Non-cash revenues (2,885) (2,997) (2,457) (2,201) (2,885) (5,882) (6,607) Cash Basis NOI $ 85,711 $ 87,310 $ 85,647 $ 84,749 $ 84,672 $ 173,021 $ 168,452 Calculation and Reconciliation of Non-GAAP Financial Measures

28Q2 2026RETURN TO TABLE OF CONTENTS (dollars in thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Reconciliation of NOI to Same Property NOI: Rental income $ 114,123 $ 112,097 $ 230,542 $ 224,002 Real estate taxes (16,908) (15,662) (32,922) (29,816) Other operating expenses (8,619) (8,878) (18,717) (19,127) NOI 88,596 87,557 178,903 175,059 Less: NOI of properties not included in same property results (1) 7 (642) 49 (638) Same property NOI $ 88,603 $ 86,915 $ 178,952 $ 174,421 Reconciliation of Same Property Cash Basis NOI: NOI $ 88,596 $ 87,557 $ 178,903 $ 175,059 Non-cash revenues (2,885) (2,885) (5,882) (6,607) Cash Basis NOI 85,711 84,672 $ 173,021 $ 168,452 Less: Cash Basis NOI of properties not included in same property results (1) 7 (642) 49 (490) Same property Cash Basis NOI $ 85,718 $ 84,030 $ 173,070 $ 167,962 Gardner, KS 645,462 Square Feet ILPT Ownership: 100% Calculation and Reconciliation of Non-GAAP Financial Measures (1) The properties excluded from ILPT's same property results generated negative NOI during the three and six months ended June 30, 2026.

29Q2 2026RETURN TO TABLE OF CONTENTS (dollars in thousands) For the Three Months Ended For the Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Net loss $ (23,088) $ (17,859) $ (10,574) $ (30,431) $ (30,394) $ (40,947) $ (61,563) Plus: interest expense 61,112 61,702 63,362 63,470 67,914 122,814 137,727 Plus: income tax expense 59 114 15 31 30 173 58 Plus: depreciation and amortization 40,766 40,801 41,232 41,034 41,443 81,567 82,961 EBITDA 78,849 84,758 94,035 74,104 78,993 163,607 159,183 Loss on impairment of real estate — — — 6,081 — — — Loss on sale of real estate — — 1,376 — — — — Equity in earnings of unconsolidated joint venture (2,702) (2,871) (14,643) (2,236) (4,144) (5,573) (3,102) Share of EBITDAre from unconsolidated joint venture 3,264 3,175 3,067 3,025 2,861 6,439 5,739 EBITDAre 79,411 85,062 83,835 80,974 77,710 164,473 161,820 Plus: general and administrative expense paid in common shares 1,367 365 261 674 877 1,732 1,124 Plus: incentive management fees 2,834 1,567 963 2,438 1,311 4,401 2,278 Plus: loss on extinguishment of debt 3,830 — — — 5,070 3,830 5,070 Adjusted EBITDAre $ 87,442 $ 86,994 $ 85,059 $ 84,086 $ 84,968 $ 174,436 $ 170,292 Net loss attributable to common shareholders $ (14,463) $ (9,427) $ (1,780) $ (21,565) $ (21,310) $ (23,890) $ (42,842) Equity in earnings of unconsolidated joint venture (2,702) (2,871) (14,643) (2,236) (4,144) (5,573) (3,102) Loss on impairment of real estate — — — 6,081 — — — Loss on sale of real estate — — 1,376 — — — — Depreciation and amortization 40,766 40,801 41,232 41,034 41,443 81,567 82,961 Share of FFO from unconsolidated joint venture 1,926 1,849 1,711 1,623 1,475 3,775 2,980 FFO adjustments attributable to noncontrolling interests (9,890) (9,936) (9,981) (9,990) (10,037) (19,826) (20,047) FFO attributable to common shareholders 15,637 20,416 17,915 14,947 7,427 36,053 19,950 Incentive management fees 2,834 1,567 963 2,438 1,311 4,401 2,278 Loss on extinguishment of debt 3,830 — — — 5,070 3,830 5,070 Normalized FFO adjustments attributable to noncontrolling interest (1,494) — — — — (1,494) — Normalized FFO attributable to common shareholders $ 20,807 $ 21,983 $ 18,878 $ 17,385 $ 13,808 $ 42,790 $ 27,298 Calculation and Reconciliation of Non-GAAP Financial Measures

30Q2 2026RETURN TO TABLE OF CONTENTS (amounts in thousands, except per share data) For the Three Months Ended For the Six Months Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Normalized FFO attributable to common shareholders $ 20,807 $ 21,983 $ 18,878 $ 17,385 $ 13,808 $ 42,790 $ 27,298 Plus (minus): Non-cash interest expense 2,181 4,417 4,964 5,028 7,631 6,598 18,218 Non-cash revenues (2,885) (2,997) (2,457) (2,201) (2,885) (5,882) (6,607) General and administrative expense paid in common shares 1,367 365 261 674 877 1,732 1,124 Capital expenditures (14,234) (2,518) (7,080) (6,737) (5,151) (16,752) (9,110) Principal amortization (3,230) (4,807) (4,763) (4,720) (4,677) (8,037) (9,310) Share of Normalized FFO from unconsolidated joint venture (1,926) (1,849) (1,711) (1,623) (1,475) (3,775) (2,980) Distributions from unconsolidated joint venture 1,188 1,188 990 990 990 2,376 1,980 Incentive management fees (1) — (5,679) — — — (5,679) — CAD adjustments attributable to noncontrolling interests 3,286 1,027 950 2,477 1,382 4,313 1,520 CAD attributable to common shareholders $ 6,554 $ 11,130 $ 10,032 $ 11,273 $ 10,500 $ 17,684 $ 22,133 Weighted average common shares outstanding (basic and diluted) 66,224 66,178 66,171 66,089 65,927 66,201 65,881 Per Common Share Data (basic and diluted): Net loss attributable to common shareholders $ (0.22) $ (0.14) $ (0.03) $ (0.33) $ (0.32) $ (0.36) $ (0.65) FFO attributable to common shareholders $ 0.24 $ 0.31 $ 0.27 $ 0.23 $ 0.11 $ 0.54 $ 0.30 Normalized FFO attributable to common shareholders $ 0.31 $ 0.33 $ 0.29 $ 0.26 $ 0.21 $ 0.65 $ 0.41 CAD attributable to common shareholders $ 0.10 $ 0.17 $ 0.15 $ 0.17 $ 0.16 $ 0.27 $ 0.34 Calculation and Reconciliation of Non-GAAP Financial Measures (1) In January 2026, ILPT paid RMR an incentive management fee of $5,679 incurred for the year ended December 31, 2025.

31Q2 2026RETURN TO TABLE OF CONTENTS Company Profile, Research Coverage and Governance Information Management: ILPT is managed by The RMR Group (Nasdaq: RMR). RMR is a leading U.S. alternative asset management company, unique for its focus on commercial real estate (CRE) and related businesses. As of June 30, 2026, RMR had over $37 billion in assets under management and 40 years of institutional experience in buying, selling, financing and operating CRE. ILPT believes 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. ILPT also believes RMR provides management services to it at a lower cost than it would have to pay for similar quality services if it were self managed. Board of Trustees Yael Duffy Bruce M. Gans Lisa Harris Jones Managing Trustee Lead Independent Trustee Independent Trustee Joseph L. Morea Kevin C. Phelan Elena B. Poptodorova Independent Trustee Independent Trustee Independent Trustee Adam D. Portnoy June S. Youngs Chair of the Board and Independent Trustee Managing Trustee Equity Research Coverage B. Riley Securities, Inc. Citizens Freedom Finance Global PLC John Massocca Mitchell Germain Zhiger Kurmet jmassocca@brileysecurities.com mgermain@jmpsecurities.com zhiger.kurmet@fbroker.kz (646) 885-5424 (212) 906-3537 (708) 297-6150 Lucid Capital Markets Craig Kucera ckucera@lucidcm.com (917) 890-4412 ILPT is followed by the analysts listed on this page. 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. Officers Yael Duffy Tiffany R. Sy Marc Krohn President and Chief Financial Officer Vice President Chief Executive Officer and Treasurer

32Q2 2026RETURN TO TABLE OF CONTENTS Unless otherwise noted, all data presented in this presentation excludes the properties owned by an unconsolidated joint venture in which ILPT owns a 22% equity interest. See page 25 for information regarding this joint venture and related mortgage notes. Non-GAAP Financial Measures: ILPT presents certain “non-GAAP financial measures” within the meaning of the applicable rules of the Securities and Exchange Commission, or the SEC, including net operating income, or NOI, Cash Basis NOI, same property NOI, same property Cash Basis NOI, earnings before interest, income tax, depreciation and amortization, or EBITDA, EBITDA for real estate, or EBITDAre, Adjusted EBITDAre, funds from operations, or FFO, attributable to common shareholders, normalized funds from operations, or Normalized FFO, attributable to common shareholders and cash available for distribution, or CAD, attributable to common shareholders. These measures do not represent cash generated by operating activities in accordance with GAAP and should not be considered as alternatives to net loss or net loss attributable to common shareholders, as indicators of ILPT's operating performance or as measures of its liquidity. These measures should be considered in conjunction with net loss and net loss attributable to common shareholders as presented in ILPT's condensed consolidated statements of income (loss). ILPT considers these non-GAAP measures to be appropriate supplemental measures of operating performance for a REIT, along with net loss and net loss attributable to common shareholders. ILPT believes these measures provide useful information to investors because by excluding the effects of certain historical amounts, such as depreciation and amortization expense, they may facilitate a comparison of its operating performance between periods and with other REITs and, in the case of NOI, Cash Basis NOI, same property NOI, and same property Cash Basis NOI, reflecting only those income and expense items that are generated and incurred at the property level may help both investors and management to understand the operations of ILPT's properties. NOI and Cash Basis NOI: ILPT calculates NOI and Cash Basis NOI as shown on page 27 and same property NOI and same property Cash Basis NOI as shown on page 28. ILPT defines NOI as income from its rental of real estate less its property operating expenses. ILPT defines Cash Basis NOI as NOI excluding non-cash revenues and lease termination fees, if any. The calculations of NOI and Cash Basis NOI exclude certain components of net loss in order to provide results that are more closely related to ILPT's property level results of operations. NOI excludes depreciation and amortization. ILPT uses NOI and Cash Basis NOI to evaluate individual and company-wide property level performance. ILPT calculates same property NOI and same property Cash Basis NOI in the same manner that it calculates the corresponding NOI and Cash Basis NOI amounts, except that ILPT only includes same properties in calculating same property NOI and same property Cash Basis NOI. Other real estate companies and REITs may calculate NOI and Cash Basis NOI differently than ILPT does. FFO Attributable to Common Shareholders and Normalized FFO Attributable to Common Shareholders: ILPT calculates FFO attributable to common shareholders and Normalized FFO attributable to common shareholders as shown on page 29. FFO attributable to common shareholders is calculated on the basis defined by The National Association of Real Estate Investment Trusts, or Nareit, which is: (1) net loss attributable to common shareholders calculated in accordance with GAAP, excluding (i) any recovery or loss on impairment of real estate, (ii) any gain or loss on sale of real estate and (iii) equity in earnings or losses of unconsolidated joint venture; (2) plus (i) real estate depreciation and amortization and (ii) ILPT's proportionate share of FFO from unconsolidated joint venture properties; (3) minus FFO adjustments attributable to noncontrolling interests; and (4) certain other adjustments currently not applicable to ILPT. In calculating Normalized FFO attributable to common shareholders, ILPT adjusts for certain nonrecurring items shown on page 29, including adjustments for such items related to the unconsolidated joint venture, if any, loss on extinguishment of debt, if any, and incentive management fees, if any. FFO attributable to common shareholders and Normalized FFO attributable to common shareholders are among the factors considered by ILPT's Board of Trustees when determining the amount of distributions to its shareholders. Other factors include, but are not limited to, requirements to maintain ILPT's qualification for taxation as a REIT, the then current and expected needs for and availability of cash to pay ILPT's obligations and fund ILPT's investments, limitations in ILPT's debt agreements, the availability to ILPT of debt and equity capital, its distribution rate as a percentage of the trading price of ILPT's common shares, or dividend yield, and ILPT's dividend yield compared to the dividend yields of other REITs and ILPT's expectation of future capital requirements and operating performance. Other real estate companies and REITs may calculate FFO attributable to common shareholders and Normalized FFO attributable to common shareholders differently than ILPT does. Non-GAAP Financial Measures and Certain Definitions

33Q2 2026RETURN TO TABLE OF CONTENTS Non-GAAP Financial Measures and Certain Definitions (Continued) Cash Available for Distribution: ILPT calculates CAD as shown on page 30. ILPT defines CAD as Normalized FFO minus ILPT's proportionate share of Normalized FFO from unconsolidated joint venture properties, plus operating cash flow distributions received from ILPT's unconsolidated joint venture, recurring real estate related capital expenditures, adjustments for other non-cash and nonrecurring items, certain amounts excluded from Normalized FFO but settled in cash, excluding CAD adjustments attributable to noncontrolling interests, equity based compensation, principal amortization, and paid incentive management fees, if any, as well as certain other adjustments currently not applicable to ILPT. CAD is among the factors considered by ILPT's Board of Trustees when determining the amount of distributions to ILPT's shareholders. Other real estate companies and REITs may calculate CAD differently than ILPT does. EBITDA, EBITDAre and Adjusted EBITDAre: ILPT calculates EBITDA, EBITDAre and Adjusted EBITDAre as shown on page 29. EBITDAre is calculated on the basis defined by Nareit, which is EBITDA, including ILPT's proportionate share of EBITDAre from unconsolidated joint venture properties, and excluding any gain or loss on the sale of real estate, equity in earnings or losses of unconsolidated joint venture, recovery or loss on impairment of real estate, as well as certain other adjustments currently not applicable to ILPT. In calculating Adjusted EBITDAre, ILPT adjusts for the items shown on page 29. Other real estate companies and REITs may calculate EBITDA, EBITDAre and Adjusted EBITDAre differently than ILPT does. Pro-Rata Operating Information of Consolidated Joint Venture: ILPT believes this financial presentation of its consolidated joint venture information provides useful information to investors by providing additional insight into the financial performance of its consolidated joint venture, in which ILPT owns a 61% equity interest. This information may not accurately depict the impact of these investments in accordance with GAAP. Pro-rata information should not be considered in isolation or as a substitute for ILPT's condensed consolidated financial statements in accordance with GAAP. Certain Definitions: Annualized dividend yield - Annualized dividend yield is the annualized dividend paid during the applicable period divided by the closing price of ILPT's common shares at the end of the relevant period. Annualized rental revenues - Annualized rental revenues is the annualized contractual base rents from ILPT's tenants pursuant to its lease agreements as of the measurement date, including straight line rent adjustments and estimated recurring expense reimbursements to be paid to ILPT, and excluding lease value amortization. Building improvements - Building improvements generally include expenditures to replace obsolete building components and expenditures that extend the useful life of existing assets. GAAP - GAAP refers to U.S. generally accepted accounting principles. Gross book value of real estate assets - Gross book value of real estate assets is real estate assets at cost, plus certain acquisition related costs, if any, before depreciation and impairments, if any. ILPT Wholly Owned Properties - ILPT Wholly Owned Properties refers to 314 properties that are wholly owned by ILPT, including 226 buildings, leasable land parcels and easements containing approximately 16.7 million rentable square feet that are primarily industrial lands located on the island of Oahu, Hawaii, or the Hawaii Portfolio, and 88 properties containing approximately 21.8 million rentable square feet located in 33 other states, or the Mainland Portfolio. Information included in this presentation with respect to the Mainland Portfolio and the Hawaii Portfolio include certain allocations of interest expense on debts secured by properties in each portfolio and of general and administrative expense based upon the gross asset value of properties in each portfolio. ILPT believes the information presented for these portfolios is useful to investors to provide insight into the financial performance of these portfolios.

34Q2 2026RETURN TO TABLE OF CONTENTS Incentive management fees - Incentive management fees are estimated and accrued during the applicable measurement period. Actual incentive management fees are calculated based on common share total return, as defined in ILPT's business management agreement, for the three year period ending December 31 of the applicable calendar year, are included in general and administrative expenses in ILPT's condensed consolidated statements of income (loss) and are payable to RMR in January of the following calendar year. Leased square feet - Leased square feet is pursuant to existing leases as of June 30, 2026, and includes space being fitted out for occupancy, if any, and space which is leased but is not occupied, if any. Leasing costs - Leasing costs include leasing related costs, such as brokerage commissions and tenant inducements. Leasing costs and concession commitments - Leasing costs and concession commitments include commitments made for leasing expenditures and concessions, such as tenant improvements, leasing commissions, tenant reimbursements and free rent. Mountain JV - Mountain Industrial REIT LLC, or Mountain JV, owns 94 mainland properties containing approximately 21.0 million rentable square feet located in 27 states. ILPT owns a 61% equity interest in this joint venture. ILPT consolidates 100% of this joint venture in its financial statements in accordance with GAAP. Net debt - Net debt is the total outstanding principal of ILPT's debt less cash and cash equivalents and restricted cash and cash equivalents. Non-cash interest expense - Non-cash interest expense includes the amortization of debt discounts, premiums, issuance costs and interest rate caps. Non-cash revenues - Non-cash revenues include lease value amortization and straight line rent adjustments, if any. Percent change in GAAP rent - Percent change in GAAP rent is the percent change from prior rents charged for same space. Rents include estimated recurring expense reimbursements and exclude lease value amortization. Same space represents the same land area and building area (with leasing rates for vacant space based upon the most recent rental rate for the same space). Rentable square feet - Represents total square feet available for lease as of the measurement date. Square footage measurements are subject to changes when space is remeasured or reconfigured for new tenants. Rolling four quarter CAD - Represents CAD for the preceding twelve month period as of the respective quarter end date. Same property - For the three months ended June 30, 2026 and 2025, same property results include properties that ILPT owned continuously since April 1, 2025. For the six months ended June 30, 2026 and 2025, same property results include properties that ILPT owned continuously since January 1, 2025. SOFR - SOFR is the secured overnight financing rate. Tenant improvements - Tenant improvements include capital expenditures used to improve tenants' space or amounts paid directly to tenants to improve their space. Total gross assets - Total gross assets is total assets plus accumulated depreciation. Total market capitalization - Total market capitalization is the total principal amount of debt plus the market value of ILPT's common shares at the end of the applicable period. Non-GAAP Financial Measures and Certain Definitions (Continued)

35Q2 2026RETURN TO TABLE OF CONTENTS Warning Concerning Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws that are subject to risks and uncertainties. These statements may include words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions. These forward-looking statements include, among others, statements about: ILPT’s portfolio and leasing pipeline; ILPT's third quarter and full year 2026 guidance; ILPT's exposure to rising interest rates; ILPT's ability to capture embedded rent growth across its portfolio and create long term value for shareholders; ILPT's tenant retention and demand for ILPT’s properties; stability of ILPT's cash flows; debt maturities; and ILPT’s capital expenditure plans and commitments. Forward-looking statements reflect ILPT’s current expectations, are based on judgments and assumptions, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause ILPT’s actual results, performance or achievements to differ materially from expected future results, performance or achievements expressed or implied in those forward-looking statements. Some of the risks, uncertainties and other factors that may cause its actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, the following: whether ILPT's tenants will renew or extend their leases or whether ILPT will obtain replacement tenants on terms as favorable to it as the terms of its existing leases; ILPT's ability to successfully compete for tenancies, the likelihood that the rents it realizes will increase when ILPT renews or extends its leases, enters new leases, or its rents reset at ILPT’s properties located in Hawaii; ILPT’s ability to maintain high occupancy at its properties; ILPT’s ability to reduce its leverage, generate cash flow and take advantage of mark-to-market leasing opportunities; ILPT's ability to cost-effectively raise and balance its use of debt or equity capital; ILPT’s ability to pay interest on and principal of its debt; ILPT's expected capital expenditures and leasing costs; ILPT’s ability to maintain sufficient liquidity; ILPT’s ability and the ability of its tenants to operate under unfavorable market and commercial real estate industry conditions, due to uncertainties surrounding interest rates and inflation, changing tariffs and trade policies and related uncertainty, supply chain disruptions, emerging technologies, volatility in the public equity and debt markets, geopolitical instability and tensions, pandemics, any U.S. government shutdown, economic downturns or a possible recession, labor market conditions or changes in real estate utilization; demand for industrial and logistics properties; whether the industrial and logistics sector and the extent to which ILPT's tenants' businesses are critical to sustaining a resilient supply chain and that ILPT's business will benefit as a result; competition within the commercial real estate industry, particularly for industrial and logistics properties in those markets in which ILPT's properties are located; ILPT's tenant and geographic concentrations; ILPT’s tenants’ ability and willingness to pay their rent obligations to ILPT; the credit qualities of ILPT’s tenants; changes in the security of cash flows from ILPT’s properties; potential defaults of ILPT's leases by its tenants; ILPT’s ability to pay distributions to its shareholders and to increase or sustain the amount of such distributions; ILPT’s ability to sell properties at prices or returns it targets, and the timing of such sales; ILPT's ability to complete sales without delay, or at all, pursuant to existing agreement terms; ILPT’s ability to sell additional equity interests in, or contribute additional properties to, its existing joint ventures, to enter into additional real estate joint ventures or to attract co-venturers and benefit from its existing joint ventures or any real estate joint ventures ILPT may enter into; risks and uncertainties regarding the development, redevelopment or repositioning of ILPT’s properties, including as a result of inflation, cost overruns, tariffs, supply chain challenges, labor market conditions, construction delays or ILPT's inability to obtain necessary permits, ILPT’s ability to lease space at these properties at targeted returns and volatility in the commercial real estate markets; ILPT’s ability to prudently pursue, and successfully and profitably complete, expansion and renovation projects at its properties and to realize its expected returns on those projects; the ability of ILPT’s manager, RMR, to successfully manage it; changes in environmental laws or in their interpretations or enforcement as a result of climate change or otherwise, or ILPT’s incurring environmental remediation costs or other liabilities; compliance with, and changes to, federal, state and local laws and regulations, accounting rules, tax laws and similar matters; limitations imposed by and ILPT’s ability to satisfy complex rules to maintain its qualification for taxation as a REIT for U.S. federal income tax purposes; actual and potential conflicts of interest with ILPT’s related parties, including its Managing Trustees, RMR and others affiliated with them; acts of terrorism, war or other hostilities, outbreaks of pandemics or other public health safety events or conditions, global climate change or other manmade or natural disasters beyond ILPT's control; and other matters. These risks, uncertainties and other factors are not exhaustive and should be read in conjunction with other cautionary statements that are included in ILPT’s periodic filings. The information contained in ILPT’s filings with the SEC, including under the caption “Risk Factors” in ILPT’s periodic reports, or incorporated therein, identifies important factors that could cause differences from ILPT’s forward-looking statements in this presentation. ILPT’s filings with the SEC are available on the SEC’s website at www.sec.gov. You should not place undue reliance upon ILPT’s forward-looking statements. Except as required by law, ILPT does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.