1 Supplemental Operating and Financial Data ALL AMOUNTS IN THIS REPORT ARE UNAUDITED. THIRD QUARTER 2022 Exhibit 99.2 201 Exploration Drive Monroe, OH 387,000 387,000 Square Feet ILPT Ownership: 61%

2Supplemental Q3 2022 CORPORATE INFORMATION Company Profile ............................................................................................................................................................................................................. 3 Investor Information ...................................................................................................................................................................................................... 4 Equity Research Coverage ........................................................................................................................................................................................... 5 FINANCIALS Key Financial Data.......................................................................................................................................................................................................... 6 Condensed Consolidated Balance Sheets ............................................................................................................................................................... 7 Condensed Consolidated Statements of Income (Loss) ........................................................................................................................................ 8 Debt Summary ............................................................................................................................................................................................................... 9 Debt Maturity Schedule ................................................................................................................................................................................................ 10 Leverage Ratios and Coverage Ratios ....................................................................................................................................................................... 11 Capital Expenditures Summary ................................................................................................................................................................................... 12 Property Acquisitions and Dispositions Information Since 1/1/22 ...................................................................................................................... 13 PORTFOLIO INFORMATION Portfolio Summary by Property Type ......................................................................................................................................................................... 14 Same Property Results of Operations by Property Type ........................................................................................................................................ 15-16 Occupancy and Leasing Summary ............................................................................................................................................................................. 17 Occupancy and Leasing Analysis by Property Type ............................................................................................................................................... 18 Tenant Credit Characteristics ...................................................................................................................................................................................... 19 Tenants Representing 1% or More of Total Annualized Rental Revenues .......................................................................................................... 20 Five Year Lease Expiration and Reset Schedule by Property Type ...................................................................................................................... 21 Portfolio Lease Expiration Schedule .......................................................................................................................................................................... 22 JOINT VENTURES Joint Ventures ................................................................................................................................................................................................................. 23 Joint Venture - Mountain Industrial REIT LLC ........................................................................................................................................................... 24 Joint Venture - The Industrial Fund REIT LLC ........................................................................................................................................................... 25 APPENDIX Calculation and Reconciliation of NOI and Cash Basis NOI .................................................................................................................................. 26 Reconciliation of NOI to Same Property NOI and Calculation of Same Property Cash Basis NOI ................................................................ 27 Calculation of EBITDA, EBITDAre and Adjusted EBITDAre ................................................................................................................................... 28 Calculation of FFO Attributable to Common Shareholders and Normalized FFO Attributable to Common Shareholders .................... 29 NON-GAAP FINANCIAL MEASURES AND CERTAIN DEFINITIONS ....................................................................................................................................... 30-31 WARNING CONCERNING FORWARD-LOOKING STATEMENTS ............................................................................................................................................ 32 Table of Contents Please refer to the Non-GAAP Financial Measures and Certain Definitions for terms used throughout this document.

3Supplemental Q3 2022 Corporate Headquarters: Two Newton Place 255 Washington Street, Suite 300 Newton, MA 02458-1634 (t) (617) 219-1460 Stock Exchange Listing: Nasdaq Trading Symbol: Common Shares: ILPT The Company: Industrial Logistics Properties Trust, or ILPT, we, our or us, is a real estate investment trust, or REIT, that owns and leases industrial and logistics properties throughout the United States. As of September 30, 2022, our portfolio was comprised of 413 consolidated properties containing approximately 60.0 million rentable square feet located in 39 states, 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, HI, and 187 properties containing approximately 43.2 million rentable square feet located in 38 other states, which includes 94 properties owned by a consolidated joint venture arrangement in which we own a 61% equity interest. As of September 30, 2022, we also owned a 22% equity interest in an unconsolidated joint venture, which owns 18 properties located in 12 states containing approximately 11.7 million rentable square feet. ILPT is included in 181 market indices and comprises more than 1% of the following indices as of September 30, 2022: Invesco S&P SmallCap High Dividend Low Volatility ETF INAV Index (XSHDIV), Bloomberg Real Estate Investment Trust Mid Cap Index (BBREMIDC) and Invesco KBW Premium Yield Equity REIT ETF INAV Index (KBWYIV). Management: ILPT is managed by The RMR Group (Nasdaq: RMR). RMR is an alternative asset management company that is focused on commercial real estate and related businesses. RMR primarily provides management services to publicly traded real estate companies, privately held real estate funds and real estate related operating businesses. As of September 30, 2022, RMR had over $37 billion of real estate assets under management and the combined RMR managed companies had approximately $12 billion of annual revenues, 2,100 properties and over 38,000 employees. We believe that being managed by RMR is a competitive advantage for ILPT because of RMR’s depth of management and experience in the real estate industry. We also believe RMR provides management services to us at a lower cost than we would have to pay for similar quality services if we were self managed. Company Profile RETURN TO TABLE OF CONTENTS

4Supplemental Q3 2022 Investor Information Board of Trustees Bruce M. Gans Lisa Harris Jones Matthew P. Jordan Lead Independent Trustee Independent Trustee Managing Trustee Joseph L. Morea Kevin C. Phelan Adam D. Portnoy Independent Trustee Independent Trustee Chair of the Board & Managing Trustee June S. Youngs Independent Trustee Executive Officers Yael Duffy Brian E. Donley President and Chief Operating Officer Chief Financial Officer and Treasurer Contact Information Investor Relations Inquiries Industrial Logistics Properties Trust Financial, investor and media inquiries should be directed to Two Newton Place Kevin Barry, Director, Investor Relations, 255 Washington Street, Suite 300 at (617) 658-0776 or kbarry@ilptreit.com. Newton, MA 02458-1634 (t) (617) 219-1460 (email) info@ilptreit.com (website) www.ilptreit.com RETURN TO TABLE OF CONTENTS 482 Chaney Avenue Greenwood, IN 671,354 Square Feet ILPT Ownership: 61%

5Supplemental Q3 2022 ILPT is followed by the analysts listed here. 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. Equity Research Coverage B. Riley Securities, Inc. BofA Securities Bryan Maher Camille Bonnel bmaher@brileyfin.com camille.bonnel@baml.com (646) 885-5423 (416) 369-2140 BTIG JMP Securities Thomas Catherwood Mitchell Germain tcatherwood@btig.com mgermain@jmpsecurities.com (212) 738-6140 (212) 906-3537 RBC Capital Markets Michael Carroll michael.carroll@rbccm.com (440) 715-2649 RETURN TO TABLE OF CONTENTS 1414 South Council Road Oklahoma City, OK 300,000 Square Feet ILPT Ownership: 61%

6Supplemental Q3 2022 (dollars in thousands, except per share data) As of and For the Three Months Ended 9/30/2022 6/30/2022 3/31/2022 12/31/2021 9/30/2021 Selected Balance Sheet Data: Total gross assets $ 5,962,116 $ 6,166,704 $ 6,286,275 $ 2,076,048 $ 2,212,938 Total assets $ 5,719,635 $ 5,955,838 $ 6,103,793 $ 1,908,558 $ 2,048,095 Total liabilities $ 4,358,125 $ 4,520,904 $ 4,499,824 $ 870,516 $ 1,052,066 Total equity $ 1,361,510 $ 1,434,934 $ 1,603,969 $ 1,038,042 $ 996,029 Selected Income Statement Data: Rental income $ 103,215 $ 107,222 $ 71,375 $ 56,496 $ 54,981 Net (loss) income $ (83,974) $ (151,321) $ (9,787) $ 63,207 $ 18,307 Net (loss) income attributable to common shareholders $ (45,627) $ (143,539) $ (6,514) $ 63,207 $ 18,307 NOI $ 81,013 $ 86,894 $ 55,167 $ 43,771 $ 42,947 Adjusted EBITDAre $ 76,072 $ 80,811 $ 52,532 $ 42,162 $ 41,154 FFO attributable to common shareholders $ (10,134) $ (2,001) $ 8,102 $ 31,228 $ 30,278 Normalized FFO attributable to common shareholders $ 14,873 $ 28,302 $ 27,603 $ 31,714 $ 30,278 Per Common Share Data (basic and diluted): Net (loss) income attributable to common shareholders $ (0.70) $ (2.20) $ (0.10) $ 0.97 $ 0.28 FFO attributable to common shareholders $ (0.16) $ (0.03) $ 0.12 $ 0.48 $ 0.46 Normalized FFO attributable to common shareholders $ 0.23 $ 0.43 $ 0.42 $ 0.49 $ 0.46 Dividends: Annualized dividends paid per share $ 0.04 $ 1.32 $ 1.32 $ 1.32 $ 1.32 Annualized dividend yield (at end of period) 0.7% 9.4% 5.8% 5.3% 5.2% Normalized FFO attributable to common shareholders payout ratio 4.3% 76.7% 78.6% 67.3% 71.7% Key Financial Data RETURN TO TABLE OF CONTENTS 16101 Queens Court Upper Marlboro, MD 220,800 Square Feet ILPT Ownership: 22%

7Supplemental Q3 2022 Condensed Consolidated Balance Sheets September 30, December 31, 2022 2021 ASSETS Real estate properties: Land $ 1,117,801 $ 699,037 Buildings and improvements 4,053,913 1,049,796 Total real estate properties, gross 5,171,714 1,748,833 Accumulated depreciation (242,481) (167,490) Total real estate properties, net 4,929,233 1,581,343 Investment in unconsolidated joint venture 145,693 143,021 Acquired real estate leases, net 313,444 63,441 Cash and cash equivalents 26,381 29,397 Restricted cash 100,288 — Rents receivable, including straight line rents of $77,343 and $69,173, respectively 100,347 75,877 Other assets, net 104,249 15,479 Total assets $ 5,719,635 $ 1,908,558 (dollars in thousands, except per share data) RETURN TO TABLE OF CONTENTS September 30, December 31, 2022 2021 LIABILITIES AND EQUITY Revolving credit facility $ — $ 182,000 Mortgages and notes payable, net 4,243,271 646,124 Assumed real estate lease obligations, net 23,633 12,435 Accounts payable and other liabilities 86,727 27,772 Due to related persons 4,494 2,185 Total liabilities $ 4,358,125 $ 870,516 Commitments and contingencies Equity: Equity attributable to common shareholders: Common shares of beneficial interest, $.01 par value: 100,000,000 shares authorized; 65,568,704 and 65,404,592 shares issued and outstanding, respectively 656 654 Additional paid in capital 1,013,802 1,012,224 Cumulative net income 148,228 343,908 Cumulative other comprehensive income 12,300 — Cumulative common distributions (362,565) (318,744) Total equity attributable to common shareholders 812,421 1,038,042 Total equity attributable to noncontrolling interest 549,089 — Total equity 1,361,510 1,038,042 Total liabilities and equity $ 5,719,635 $ 1,908,558

8Supplemental Q3 2022 Condensed Consolidated Statements of Income (Loss) Three Months Ended September 30, Nine Months Ended September 30, 2022 2021     2022     2021 Rental income $ 103,215 $ 54,981 $ 281,812 $ 163,378 Expenses: Real estate taxes 13,749 7,617 36,460 22,353 Other operating expenses 8,453 4,417 22,278 13,734 Depreciation and amortization 48,519 12,694 114,096 37,202 Acquisition and other transaction related costs 586 — 586 646 General and administrative 9,110 4,728 24,896 12,718 Loss on impairment of real estate — — 100,747 — Total expenses 80,417 29,456 299,063 86,653 Interest and other income 1,068 — 1,900 — Interest expense (including net amortization of debt issuance costs, premiums and discounts of $35,496, $505, $90,265 and $1,516, respectively) (89,739) (9,084) (208,286) (26,468) Gain (loss) on sale of real estate — 940 (10) 940 Loss on equity securities — — (5,758) — Loss on early extinguishment of debt (21,370) — (22,198) — (Loss) income before income tax expense and equity in earnings of unconsolidated joint venture (87,243) 17,381 (251,603) 51,197 Income tax expense (28) (72) (113) (177) Equity in earnings of unconsolidated joint venture 3,297 998 6,634 5,455 Net (loss) income (83,974) 18,307 (245,082) 56,475 Net loss attributable to noncontrolling interest 38,347 — 49,402 — Net (loss) income attributable to common shareholders $ (45,627) $ 18,307 $ (195,680) $ 56,475 Weighted average common shares outstanding - basic 65,250 65,178 65,228 65,154 Weighted average common shares outstanding - diluted 65,250 65,230 65,228 65,205 Per common share data (basic and diluted): Net (loss) income attributable to common shareholders $ (0.70) $ 0.28 $ (3.00) $ 0.86 Additional Data: General and administrative expenses / total assets (at end of period) 0.2% 0.2% 0.4% 0.6% Non-cash straight line rent adjustments included in rental income $ 3,794 $ 1,678 $ 8,170 $ 5,673 Lease value amortization included in rental income $ 250 $ 174 $ 4,265 $ 525 Lease termination fees included in rental income $ — $ — $ 30 $ 512 (amounts in thousands, except percentage data and per share data) RETURN TO TABLE OF CONTENTS 235 Great Pond Road Windsor, CT 171,072 Square Feet ILPT Ownership: 100%

9Supplemental Q3 2022 (1) Interest rates are as of September 30, 2022. (2) Principal balance excludes unamortized debt issuance costs related to these debts. Total debt outstanding as of September 30, 2022, including unamortized debt issuance costs totaling $52,571, was $4,243,271. (3) The $1,235,000 floating rate loan has an initial maturity date of October 9, 2024, with three, one year extension options, subject to the satisfaction of certain conditions, and requires that interest be paid at a rate of SOFR plus a weighted average premium of 3.93%. We have also purchased an interest rate cap through October 2024 with a SOFR strike rate of 2.25%. The current interest rate reflects the impact of this interest rate cap. (4) Mountain is Mountain Industrial REIT LLC. See page 23 for more information. (5) Our consolidated joint venture, in which we own a 61% interest, has a $1,400,000 floating rate loan, which has an original maturity date of March 9, 2024, subject to three, one year extension options, and requires that interest be paid at a rate of SOFR plus a premium of 2.77%. We have also purchased an interest rate cap through March 2024 with a SOFR strike rate equal to 3.40%. The current interest rate reflects the impact of this interest rate cap. Current Interest Principal Maturity Due at Years to Entity Type Secured By: Rate (1) Balance (2) Date Maturity Maturity ILPT Floating Rate - Interest only (3) 104 Mainland Properties 6.18 % $ 1,235,000 10/9/2024 $ 1,235,000 2.0 ILPT Fixed Rate - Interest only 186 Hawaii Properties 4.31 % 650,000 2/7/2029 650,000 6.4 ILPT Fixed Rate - Interest only 17 Mainland Properties 4.42 % 700,000 3/9/2032 700,000 9.4 Mountain (4) Floating Rate - Interest only (5) 82 Mainland Properties 5.62 % 1,400,000 3/9/2024 1,400,000 1.4 Mountain (4) Fixed Rate - Amortizing One Mainland Property 3.76 % 14,074 10/1/2028 — 6.0 Mountain (4) Fixed Rate - Amortizing One Mainland Property 3.77 % 5,008 4/1/2030 — 7.5 Mountain (4) Fixed Rate - Amortizing One Mainland Property 3.85 % 5,295 4/1/2030 — 7.5 Mountain (4) Fixed Rate - Amortizing One Mainland Property 3.56 % 14,793 9/1/2030 — 7.9 Mountain (4) Fixed Rate - Amortizing One Mainland Property 3.67 % 13,012 5/1/2031 — 8.6 Mountain (4) Fixed Rate - Amortizing One Mainland Property 4.14 % 14,443 7/1/2032 — 9.8 Mountain (4) Fixed Rate - Amortizing One Mainland Property 4.02 % 31,517 10/1/2033 — 11.0 Mountain (4) Fixed Rate - Amortizing One Mainland Property 4.13 % 43,999 11/1/2033 — 11.1 Mountain (4) Fixed Rate - Amortizing One Mainland Property 3.10 % 26,602 6/1/2035 — 12.7 Mountain (4) Fixed Rate - Amortizing One Mainland Property 2.95 % 42,743 1/1/2036 — 13.3 Mountain (4) Fixed Rate - Amortizing One Mainland Property 4.27 % 46,659 11/1/2037 — 15.1 Mountain (4) Fixed Rate - Amortizing One Mainland Property 3.25 % 52,697 1/1/2038 — 15.3 Total / weighted average debt 5.25 % $ 4,295,842 $ 3,985,000 4.4 Debt Summary RETURN TO TABLE OF CONTENTS (dollars in thousands) As of September 30, 2022

10Supplemental Q3 2022 (1) Principal balance excludes unamortized debt issuance costs related to these debts. Total debt outstanding as of September  30, 2022, including unamortized debt issuance costs totaling $52,571, was $4,243,271. (2) The $1,235,000 Floating Rate Loan matures in October 2024, subject to three, one year extension options. (3) The Floating Rate Loan of our consolidated joint venture matures in March 2024, subject to three, one year extension options. See page 23 for further information on this joint venture. Debt Maturity Schedule (1) RETURN TO TABLE OF CONTENTS (dollars in thousands) As of September 30, 2022 $( Th ou sa nd s) $1,235,000 $1,400,000 $5,479 $22,428 $23,268 $24,141 $25,047 $25,988 $26,532 $675,325 $24,686 $22,412 $785,536 Secured Floating Rate Debt Secured Floating Rate Debt of consolidated joint venture Secured Fixed Rate Debt 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 and thereafter $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 (3) (3) 9780 Mopar Drive Streetsboro, OH 1,791,246 Square Feet ILPT Ownership: 22% (2) (2)

11Supplemental Q3 2022 As of and For the Three Months Ended 9/30/2022 6/30/2022 3/31/2022 12/31/2021 9/30/2021 Leverage Ratios: Net debt / total gross assets 69.9% 65.1% 64.2% 38.7% 43.4% Net debt / gross book value of real estate assets 73.1% 73.7% 76.4% 42.3% 45.7% Net debt / total market capitalization 89.5% 74.7% 67.9% 32.5% 36.0% Secured debt / total assets 75.1% 74.7% 73.0% 34.1% 31.7% Variable rate debt / net debt 63.2% 69.4% 69.0% 22.7% 36.9% Coverage Ratios: Net debt / annualized Adjusted EBITDAre 13.7x 12.4x 13.2x 4.8x 5.8x Adjusted EBITDAre / interest expense (1) 0.8x 1.0x 1.4x 4.6x 4.5x Leverage Ratios and Coverage Ratios RETURN TO TABLE OF CONTENTS 55 Commerce Avenue Albany, NY 125,000 Square Feet ILPT Ownership: 100% (1) Interest expense for the quarter ended September 30, 2022 includes $31,400 of amortization of finance fees related to our bridge loan facility, which we terminated in September 2022. Excluding the amortization expense, the ratio of Adjusted EBITDAre to interest expense for the three months ended September 30, 2022 was 1.3x.

12Supplemental Q3 2022 (dollars in thousands) For the Three Months Ended 9/30/2022 6/30/2022 3/31/2022 12/31/2021 9/30/2021 Tenant improvements and leasing costs $ 2,302 $ 2,627 $ 3,361 $ 2,736 $ 1,819 Building improvements 1,292 376 110 1,315 1,625 Recurring capital expenditures 3,594 3,003 3,471 4,051 3,444 Development, redevelopment and other activities 4,980 7,077 294 556 — Total capital expenditures $ 8,574 $ 10,080 $ 3,765 $ 4,607 $ 3,444 Capital Expenditures Summary RETURN TO TABLE OF CONTENTS 309 Dulty's Lane Burlington, NJ 633,836 Square Feet ILPT Ownership: 100%

13Supplemental Q3 2022 Property Acquisitions and Dispositions Information Since 1/1/2022 (dollars and sq. ft. in thousands, except per sq. ft. data) Acquisitions: Dispositions: Weighted Average Percent Purchase Remaining Leased Date Market Number of Purchase Price / Cap Lease Term at Acquired Buyer Area Properties Sq. Ft. Price Sq. Ft. Rate in Years Acquisition Major Tenants February 2022 Mountain Industrial REIT LLC / ILPT Various (1) 124 25,745 $ 3,739,048 $ 145 4.5% 8.0 97.9% Various July 2022 Mountain Industrial REIT LLC Augusta, GA 1 226 38,000 168 5.3% 14.9 100.0% FedEx Ground Package System, Inc. Total / Weighted Average 125 25,971 $ 3,777,048 $ 145 4.5% 8.1 97.9% RETURN TO TABLE OF CONTENTS We have not disposed of any properties since January 1, 2022. (1) On February 28, 2022, we acquired Monmouth Real Estate Investment Corporation. The purchase price represents our total consideration paid including transaction related costs.

14Supplemental Q3 2022 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. As of and For the Three Months Ended September 30, 2022 Mainland Hawaii Key Statistics Properties Properties (1) Total Properties 187 226 413 Percent of total 45.3% 54.7% 100.0% Total square feet 43,233 16,729 59,962 Percent of total 72.1% 27.9% 100.0% Leased square feet 42,966 16,503 59,469 Percent leased 99.4% 98.6% 99.2% Rental income $ 75,537 $ 27,678 $ 103,215 Percent of total 73.2% 26.8% 100.0% NOI $ 60,964 $ 20,049 $ 81,013 Percent of total 75.3% 24.7% 100.0% Cash Basis NOI $ 58,911 $ 18,058 $ 76,969 Percent of total 76.5% 23.5% 100.0% RETURN TO TABLE OF CONTENTS 590 Assembly Court Fayetteville, NC 148,000 Square Feet ILPT Ownership: 100%

15Supplemental Q3 2022 (dollars and sq. ft. in thousands) As of and For the Three Months Ended As of and For the Nine Months Ended 9/30/2022 9/30/2021 9/30/2022 9/30/2021 Properties: Mainland Properties 61 61 60 60 Hawaii Properties 226 226 226 226 Total 287 287 286 286 Square Feet (1): Mainland Properties 17,262 17,259 16,905 16,902 Hawaii Properties 16,729 16,729 16,729 16,729 Total 33,991 33,988 33,634 33,631 Percent Leased (2): Mainland Properties 100.0% 100.0% 100.0% 100.0% Hawaii Properties 98.6% 97.8% 98.6% 97.8% Total 99.3% 98.9% 99.3% 98.9% Rental income: Mainland Properties $ 25,679 $ 24,807 $ 75,646 $ 74,164 Hawaii Properties 27,678 27,783 86,275 82,807 Total $ 53,357 $ 52,590 $ 161,921 $ 156,971 (1) Subject to modest adjustments when space is remeasured or reconfigured for new tenants and when land leases are converted to building leases. (2) 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. Same Property Results of Operations By Property Type RETURN TO TABLE OF CONTENTS 7410 Magi Drive Hanahan, SC 302,400 Square Feet ILPT Ownership: 100%

16Supplemental Q3 2022 As of and For the Three Months Ended As of and For the Nine Months Ended 9/30/2022 9/30/2021 9/30/2022 9/30/2021 NOI: Mainland Properties $ 20,965 $ 20,495 $ 61,904 $ 60,988 Hawaii Properties 20,049 20,628 64,087 61,312 Total $ 41,014 $ 41,123 $ 125,991 $ 122,300 Cash Basis NOI: Mainland Properties $ 20,536 $ 20,055 $ 60,760 $ 59,480 Hawaii Properties 18,058 19,284 56,390 56,247 Total $ 38,594 $ 39,339 $ 117,150 $ 115,727 NOI % Change: Mainland Properties 2.3 % 1.5 % Hawaii Properties -2.8 % 4.5 % Total -0.3 % 3.0 % Cash Basis NOI % Change: Mainland Properties 2.4 % 2.2 % Hawaii Properties -6.4 % 0.3 % Total -1.9 % 1.2 % Same Property Results of Operations by Property Type (Cont.) (dollars in thousands) RETURN TO TABLE OF CONTENTS 5440 Haggerty Lane Lafayette, IN 350,418 Square Feet ILPT Ownership: 61%

17Supplemental Q3 2022 (dollars and sq. ft. in thousands, except per sq. ft. data) As of and For the Three Months Ended 9/30/2022 06/30/2022 3/31/2022 12/31/2021 9/30/2021 Properties 413 412 412 288 294 Total sq. ft. (3) 59,962 59,736 59,736 33,991 36,488 Square feet leased 59,469 59,060 59,059 33,713 36,120 Percentage leased 99.2% 98.9% 98.9% 99.2% 99.0% Leasing Activity (Sq. Ft.): New leases 543 2,652 281 152 17 Renewals 1,142 1,082 548 1,076 754 Rent resets — 138 56 336 47 Total 1,685 3,872 885 1,564 818 % Change in GAAP Rent: New leases 280.7% 104.7% 60.9% 22.4% 24.2% Renewals 26.1% 29.1% 15.7% 6.3% 19.3% Rent resets — 37.2% 35.8% 32.1% 34.5% Weighted average (by square feet) 77.5% 61.3% 27.9% 15.1% 20.5% Leasing Costs and Concession Commitments (4): New leases $ 3,570 $ 3,025 $ 2,355 $ 1,039 $ 21 Renewals 992 2,945 2,417 2,431 2,505 Total $ 4,562 $ 5,970 $ 4,772 $ 3,470 $ 2,526 Leasing Costs and Concession Commitments per Sq. Ft. (5): New leases $ 6.58 $ 1.14 $ 8.38 $ 6.84 $ 1.20 Renewals $ 0.87 $ 2.72 $ 4.41 $ 2.26 $ 3.33 Total $ 2.71 $ 1.60 $ 5.76 $ 2.83 $ 3.28 Weighted Average Lease Term by Sq. Ft. (Years): New leases 7.4 28.3 12.6 15.3 8.3 Renewals 3.7 9.1 6.9 9.5 8.2 Total 4.9 22.7 8.9 10.2 8.2 Leasing Costs and Concession Commitments per Sq. Ft. per Year (4) (5): New leases $ 0.89 $ 0.04 $ 0.66 $ 0.45 $ 0.15 Renewals $ 0.24 $ 0.30 $ 0.64 $ 0.24 $ 0.41 Total $ 0.55 $ 0.07 $ 0.65 $ 0.28 $ 0.40 (1) This leasing summary is based on leases entered into during the periods indicated. (2) Excludes properties owned by an unconsolidated joint venture. See page 25 for additional information regarding this joint venture. (3) Subject to modest adjustments when space is remeasured or reconfigured for new tenants and when land leases are converted to building leases. (4) Includes commitments made for leasing expenditures and concessions, such as tenant improvements, leasing commissions, tenant reimbursements and free rent. (5) Amounts are per square foot per year for the weighted average lease term by leased square feet. Occupancy and Leasing Summary (1) (2) RETURN TO TABLE OF CONTENTS

18Supplemental Q3 2022 Occupancy and Leasing Analysis by Property Type (sq. ft. in thousands) Sq. Ft. Leased New and As of 6/30/2022 Acquisitions / Expired Renewal As of 9/30/2022 Property Type 6/30/2022 % Leased (2) (Sales) Leases Leases 9/30/2022 % Leased Mainland Properties 42,557 99.0% 226 (1,218) 1,401 42,966 99.4 % Hawaii Properties 16,503 98.6% — (284) 284 16,503 98.6 % Total 59,060 98.9% 226 (1,502) 1,685 59,469 99.2 % (1) Subject to modest adjustments when space is remeasured or reconfigured 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. RETURN TO TABLE OF CONTENTS Total Sq. Ft. (1) Sq. Ft. Leases Executed During As of the Three Months Ended 9/30/2022 Property Type 9/30/2022 New Renewals Total Mainland Properties 43,233 368 1,033 1,401 Hawaii Properties 16,729 175 109 284 Total 59,962 543 1,142 1,685

19Supplemental Q3 2022 As of September 30, 2022 Mainland Properties % of Annualized Rental Revenues Investment Grade Rated: 20.6% Subsidiaries of Investment Grade Rated Parent Entities: 52.2% Other Unrated or Non-Investment Grade: 27.2% Investment Grade Rated: 20.4% Subsidiaries of Investment Grade Rated Parent Entities: 38.8% Other Leased Hawaii Lands: 18.9% Other Unrated or Non-Investment Grade: 21.9% Consolidated Properties % of Annualized Rental Revenues % of Annualized Rental Revenues Mainland Tenant Credit Characteristics Properties Consolidated Investment grade rated 20.6% 20.4% Subsidiaries of investment grade rated parent entities 52.2% 38.8% Other leased Hawaii lands —% 18.9% Subtotal investment grade rated, subsidiaries of investment grade rated parent entities and other leased Hawaii lands 72.8% 78.1% Other unrated or non-investment grade 27.2% 21.9% 100.0% 100.0% Tenant Credit Characteristics RETURN TO TABLE OF CONTENTS 584 US Highway 130 Trenton, NJ 347,145 Square Feet ILPT Ownership: 61%

20Supplemental Q3 2022 % of Total No. of Leased % of Total Annualized Rental Tenant States Properties Sq. Ft. Leased Sq. Ft. Revenues 1 Federal Express Corporation/ FedEx Ground Package System, Inc. Various (34 states) 84 13,109 22.0% 29.6% 2 Amazon.com Services, Inc./ Amazon.com Services LLC AL, IN, OK, SC, TN, VA 8 4,539 7.6% 6.8% 3 Home Depot U.S.A., Inc. GA, HI, IL 4 3,365 5.7% 4.4% 4 UPS Supply Chain Solutions, Inc. NH, NY 3 794 1.3% 1.6% 5 Restoration Hardware, Inc. MD 1 1,195 2.0% 1.5% 6 Servco Pacific, Inc. HI 7 629 1.1% 1.4% 7 American Tire Distributors, Inc. CO, LA, NE, NY, OH 5 722 1.2% 1.3% 8 TD SYNNEX Corporation OH 2 939 1.6% 1.1% 114 25,292 42.5% 47.7% Tenants Representing 1% or More of Total Annualized Rental Revenues RETURN TO TABLE OF CONTENTS As of September 30, 2022 (sq. ft. in thousands) 650 Braselton Parkway Braselton, GA 373,750 Square Feet ILPT Ownership: 61%

21Supplemental Q3 2022 2027 and Total 2022 2023 2024 2025 2026 Thereafter Mainland Properties Expirations: Total sq. ft. 43,233 Leased sq. ft. 42,966 201 2,768 4,216 4,543 3,127 28,111 Percent 0.5% 6.4% 9.8% 10.6% 7.3% 65.4% Annualized rental revenues $ 300,203 $ 1,394 $ 19,878 $ 27,731 $ 26,159 $ 18,678 $ 206,363 Percent 0.5% 6.6% 9.2% 8.7% 6.2% 68.7% Hawaii Properties Expirations: Total sq. ft. 16,729 Leased sq. ft. 16,503 392 378 639 251 397 14,446 Percent 2.4% 2.3% 3.9% 1.5% 2.4% 87.5% Annualized rental revenues $ 119,778 $ 2,816 $ 2,409 $ 4,968 $ 1,524 $ 4,030 $ 104,031 Percent 2.4% 2.0% 4.1% 1.3% 3.4% 86.9% Total Expirations: Total sq. ft. 59,962 Leased sq. ft. 59,469 594 3,147 4,855 4,794 3,524 42,555 Percent 1.0% 5.3% 8.2% 8.1% 5.9% 71.6% Annualized rental revenues $ 419,981 $ 4,210 $ 22,288 $ 32,700 $ 27,683 $ 22,708 $ 310,392 Percent 1.0% 5.3% 7.8% 6.6% 5.4% 73.9% Next Scheduled Rent Resets at Hawaii Properties: Reset sq. ft. 3,678 — 370 192 156 154 2,806 Percent (1) —% 2.2% 1.2% 0.9% 0.9% 17.0% Annualized rental revenues $ 23,121 $ — $ 2,114 $ 1,273 $ 831 $ 1,307 $ 17,596 Percent (1) —% 1.8% 1.1% 0.7% 1.1% 14.7% (1) Percent based on Hawaii Properties leased square feet and Hawaii Properties annualized rental revenues for Hawaii Properties. Five Year Lease Expiration and Reset Schedule by Property Type RETURN TO TABLE OF CONTENTS (dollars and sq. ft. in thousands) As of September 30, 2022 985 Kershaw Street Ogden, UT 69,734 Square Feet ILPT Ownership: 100%

22Supplemental Q3 2022 Cumulative % of Total Cumulative % % of Total % of Total Leased Leased of Total Leased Annualized Annualized Annualized Number of Square Feet Square Feet Square Feet Rental Revenues Rental Revenues Rental Revenues Period / Year Tenants Expiring Expiring Expiring Expiring Expiring Expiring 10/1/2022-12/31/2022 12 593 1.0% 1.0% $ 4,210 1.0% 1.0% 2023 36 3,146 5.3% 6.3% 22,287 5.3% 6.3% 2024 49 4,855 8.2% 14.5% 32,699 7.8% 14.1% 2025 32 4,794 8.1% 22.6% 27,683 6.6% 20.7% 2026 24 3,524 5.9% 28.5% 22,708 5.4% 26.1% 2027 37 8,795 14.8% 43.3% 52,046 12.4% 38.5% 2028 27 4,876 8.2% 51.5% 34,085 8.1% 46.6% 2029 17 3,428 5.8% 57.3% 16,644 4.0% 50.6% 2030 14 2,155 3.6% 60.9% 18,303 4.4% 55.0% 2031 16 3,265 5.5% 66.4% 25,606 6.1% 61.1% Thereafter 134 20,038 33.6% 100.0% 163,710 38.9% 100.0% Total 398 59,469 100.0% $ 419,981 100.0% Weighted average remaining lease term (in years) 8.6 8.9 Portfolio Lease Expiration Schedule RETURN TO TABLE OF CONTENTS (dollars and sq. ft. in thousands) As of September 30, 2022 1341 N. Clyde Morris Boulevard Daytona Beach, FL 399,440 Square Feet ILPT Ownership: 100%

23Supplemental Q3 2022 Joint Ventures (dollars and sq. ft. in thousands) Investment in Joint Ventures: Three Months Ended ILPT September 30, 2022 Carrying Value at Joint Joint ILPT Number of Number of Square September 30, Venture Venture Joint Venture Ownership Presentation Properties States Feet 2022 EBITDAre FFO Mountain Industrial REIT LLC 61% Consolidated 94 27 20,981 N/A $ 27,894 $ 3,261 The Industrial Fund REIT LLC 22% Unconsolidated 18 12 11,726 $ 145,693 $ 11,287 $ 7,627 (1) Interest rates are as of September 30, 2022. Includes the interest rate stated in, or determined pursuant to, the contract terms. (2) Reflects the entire balance of the debt secured by the respective properties. (3) Reflects our proportionate share of the principal amount of debt balances based on our ownership percentage of the joint venture as of September 30, 2022. None of the debt is recourse to us, subject to certain limitations. (4) The mortgage loans require interest-only payments until their respective maturity dates. (5) Our consolidated joint venture, in which we own a 61% interest, has a $1,400,000 secured floating rate loan, which has an original maturity date of March 9, 2024 subject to three, one year extension options, and requires that interest to be paid at a rate of SOFR plus a premium of 2.77%. We have also purchased an interest rate cap through March 2024 with a SOFR strike rate equal to 3.40%. (6) Our unconsolidated joint venture, in which we own a 22% interest, has a $97,000 secured floating rate loan, which requires that interest only to be paid at a rate of SOFR plus a premium of 1.8% through October 1, 2027. The unconsolidated joint venture has also purchased an interest rate cap through October 2025 with a SOFR strike rate equal to 3.50%. Joint Venture Debt: As of September 30, 2022 ILPT Share of Principal Balance Principal Balance (3) Current Interest Maturity at September 30, ILPT at September 30, Joint Venture Secured Debt (1) Rate (1) Date 2022 (2) Ownership 2022 Mountain Industrial REIT LLC (4) 82 Properties (5) 5.62% 3/9/2024 $ 1,400,000 61% $ 854,000 Mountain Industrial REIT LLC One Property 3.76% 10/1/2028 14,074 61% 8,585 Mountain Industrial REIT LLC One Property 3.77% 4/1/2030 5,008 61% 3,055 Mountain Industrial REIT LLC One Property 3.85% 4/1/2030 5,295 61% 3,230 Mountain Industrial REIT LLC One Property 3.56% 9/1/2030 14,793 61% 9,024 Mountain Industrial REIT LLC One Property 3.67% 5/1/2031 13,012 61% 7,937 Mountain Industrial REIT LLC One Property 4.14% 7/1/2032 14,443 61% 8,810 Mountain Industrial REIT LLC One Property 4.02% 10/1/2033 31,517 61% 19,225 Mountain Industrial REIT LLC One Property 4.13% 11/1/2033 43,999 61% 26,839 Mountain Industrial REIT LLC One Property 3.10% 6/1/2035 26,602 61% 16,227 Mountain Industrial REIT LLC One Property 2.95% 1/1/2036 42,743 61% 26,073 Mountain Industrial REIT LLC One Property 4.27% 11/1/2037 46,659 61% 28,462 Mountain Industrial REIT LLC One Property 3.25% 1/1/2038 52,697 61% 32,145 The Industrial Fund REIT LLC (4) One Property 3.60% 10/1/2023 56,980 22% 12,536 The Industrial Fund REIT LLC (4) Five Properties (6) 4.22% 10/1/2027 97,000 22% 21,340 The Industrial Fund REIT LLC (4) 11 Properties 3.33% 11/7/2029 350,000 22% 77,000 $ 2,214,822 $ 1,154,488

24Supplemental Q3 2022 GA: 11.1% OH: 10.5% TX: 10.2% IN: 8.4% NC: 6.1% FL: 5.2%MI: 4.8% NJ: 4.1% IL: 3.9% KS: 3.7% MS: 3.5% 16 Other States: 28.5% Joint Venture - Mountain Industrial REIT LLC (dollars in thousands) Number of Leases Expiring 1 6 6 8 10 13 38 % of Total Annualized Rental Revenues Expiring 0.8% 4.2% 4.0% 8.4% 5.2% 13.7% 63.7% A nn ua liz ed R ev en ue E xp ir in g 2022 2023 2024 2025 2026 2027 2028 and thereafter $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 Joint Venture Lease Expiration Schedule As of September 30, 2022 RETURN TO TABLE OF CONTENTS Major Tenants of Consolidated Joint Venture % of Annualized Rental Tenant Revenues of Joint Venture Federal Express Corporation/ FedEx Ground Package System, Inc. 56.1% Amazon.com Services, Inc./ Amazon.com Services LLC 7.2% Home Depot U.S.A., Inc. 4.7% Berkshire Hathaway Inc. 2.6% Autoneum Holding AG 2.5% Geographic Diversification (1) (1) Based on the aggregate annualized rental revenues of our consolidated joint venture as of September 30, 2022.

25Supplemental Q3 2022 IN: 23.5% OH: 17.8% FL: 14.4% AZ: 7.5% VA: 7.0% MO: 6.1% MS: 5.8% KY: 4.9% IA: 4.6% TN: 3.5% MD: 3.0% PA: 1.9% Joint Venture - The Industrial Fund REIT LLC (dollars in thousands) Number of Leases Expiring — 4 3 2 4 3 6 % of Total Annualized Rental Revenues Expiring —% 6.2% 10.4% 9.4% 20.0% 8.9% 45.1% A nn ua liz ed R ev en ue E xp ir in g 2022 2023 2024 2025 2026 2027 2028 and thereafter $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 Joint Venture Lease Expiration Schedule As of September 30, 2022 RETURN TO TABLE OF CONTENTS Major Tenants of Unconsolidated Joint Venture % of Annualized Rental Tenant Revenues of Joint Venture Amazon.com Services, Inc./ Amazon.com Services LLC 38.7% The Procter & Gamble Distributing LLC 14.3% SKF USA Inc. 6.1% Subaru of America, Inc. 5.5% Geographic Diversification (1) (1) Based on the aggregate annualized rental revenues of our unconsolidated joint venture as of September 30, 2022.

26Supplemental Q3 2022 Calculation and Reconciliation of NOI and Cash Basis NOI (dollars in thousands) For the Three Months Ended For the Nine Months Ended 9/30/2022 6/30/2022 3/31/2022 12/31/2021 9/30/2021 9/30/2022 9/30/2021 Calculation of NOI and Cash Basis NOI: Rental income $ 103,215 $ 107,222 $ 71,375 $ 56,496 $ 54,981 $ 281,812 $ 163,378 Real estate taxes (13,749) (13,275) (9,436) (7,781) (7,617) (36,460) (22,353) Other operating expenses (8,453) (7,053) (6,772) (4,944) (4,417) (22,278) (13,734) NOI 81,013 86,894 55,167 43,771 42,947 223,074 127,291 Non-cash straight line rent adjustments included in rental income (3,794) (3,220) (1,156) (1,590) (1,678) (8,170) (5,673) Lease value amortization included in rental income (250) (3,695) (320) (256) (174) (4,265) (525) Lease termination fees included in rental income — (30) — — — (30) (512) Cash Basis NOI $ 76,969 $ 79,949 $ 53,691 $ 41,925 $ 41,095 $ 210,609 $ 120,581 Reconciliation of Net (Loss) Income to NOI and Cash Basis NOI: Net (loss) income $ (83,974) $ (151,321) $ (9,787) $ 63,207 $ 18,307 $ (245,082) $ 56,475 Equity in earnings of unconsolidated joint venture (3,297) (1,610) (1,727) (35,463) (998) (6,634) (5,455) Income tax expense 28 16 69 96 72 113 177 (Loss) income before income tax expense and equity in earnings of unconsolidated joint venture (87,243) (152,915) (11,445) 27,840 17,381 (251,603) 51,197 Loss on early extinguishment of debt 21,370 — 828 — — 22,198 — Interest and other income (1,068) (354) (478) — — (1,900) — Interest expense 89,739 77,548 40,999 9,157 9,084 208,286 26,468 Loss (gain) on sale of real estate — 10 — (11,114) (940) 10 (940) Loss (gain) on equity securities — 9,450 (3,692) — — 5,758 — General and administrative 9,110 9,709 6,077 4,006 4,728 24,896 12,718 Acquisition and other transaction related costs 586 — — 486 — 586 646 Loss on impairment of real estate — 100,747 — — — 100,747 — Depreciation and amortization 48,519 42,699 22,878 13,396 12,694 114,096 37,202 NOI 81,013 86,894 55,167 43,771 42,947 223,074 127,291 Non-cash straight line rent adjustments included in rental income (3,794) (3,220) (1,156) (1,590) (1,678) (8,170) (5,673) Lease value amortization included in rental income (250) (3,695) (320) (256) (174) (4,265) (525) Lease termination fees included in rental income — (30) — — — (30) (512) Cash Basis NOI $ 76,969 $ 79,949 $ 53,691 $ 41,925 $ 41,095 $ 210,609 $ 120,581 RETURN TO TABLE OF CONTENTS 900 Commerce Parkway West Greenwood, IN 294,388 Square Feet ILPT Ownership: 100%

27Supplemental Q3 2022 Reconciliation of NOI to Same Property NOI and Calculation of Same Property Cash Basis NOI (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Reconciliation of NOI to Same Property NOI : Rental income $ 103,215 $ 54,981 $ 281,812 $ 163,378 Real estate taxes (13,749) (7,617) (36,460) (22,353) Other operating expenses (8,453) (4,417) (22,278) (13,734) NOI 81,013 42,947 223,074 127,291 Less: NOI of properties not included in same property results (39,999) (1,824) (97,083) (4,991) Same property NOI $ 41,014 $ 41,123 $ 125,991 $ 122,300 Calculation of Same Property Cash Basis NOI : Same property NOI $ 41,014 $ 41,123 $ 125,991 $ 122,300 Less: Non-cash straight line rent adjustments included in rental income (2,238) (1,613) (4,815) (5,538) Lease value amortization included in rental income (182) (171) (3,996) (523) Lease termination fees included in rental income — — (30) (512) Same property Cash Basis NOI $ 38,594 $ 39,339 $ 117,150 $ 115,727 RETURN TO TABLE OF CONTENTS 510 John Dodd Road Spartanburg, SC 1,015,740 Square Feet ILPT Ownership: 100%

28Supplemental Q3 2022 Calculation of EBITDA, EBITDAre, and Adjusted EBITDAre (dollars in thousands) For the Three Months Ended For the Nine Months Ended 9/30/2022 6/30/2022 3/31/2022 12/31/2021 9/30/2021 9/30/2022 9/30/2021 Net (loss) income $ (83,974) $ (151,321) $ (9,787) $ 63,207 $ 18,307 $ (245,082) $ 56,475 Plus: interest expense 89,739 77,548 40,999 9,157 9,084 208,286 26,468 Plus: income tax expense 28 16 69 96 72 113 177 Plus: depreciation and amortization 48,519 42,699 22,878 13,396 12,694 114,096 37,202 EBITDA 54,312 (31,058) 54,159 85,856 40,157 77,413 120,322 Loss on impairment of real estate — 100,747 — — — 100,747 — Loss (gain) on sale of real estate — 10 — (11,114) (940) 10 (940) Equity in earnings of unconsolidated joint venture (3,297) (1,610) (1,727) (35,463) (998) (6,634) (5,455) Share of EBITDAre from unconsolidated joint venture 2,483 2,476 2,558 2,000 2,022 7,517 6,013 Loss (gain) on equity securities — 9,450 (3,692) — — 5,758 — EBITDAre 53,498 80,015 51,298 41,279 40,241 184,811 119,940 Plus: acquisition and other transaction related costs 586 — — 486 — 586 646 Plus: general and administrative expense paid in common shares (1) 618 796 406 397 913 1,820 1,932 Plus: loss on early extinguishment of debt 21,370 — 828 — — 22,198 — Adjusted EBITDAre $ 76,072 $ 80,811 $ 52,532 $ 42,162 $ 41,154 $ 209,415 $ 122,518 (1) Amounts represent equity based compensation to our trustees, our officers and certain other employees of RMR. RETURN TO TABLE OF CONTENTS 4000 Principio Parkway North East, MD 1,194,744 Square Feet ILPT Ownership: 100%

29Supplemental Q3 2022 Calculation of FFO Attributable to Common Shareholders and Normalized FFO Attributable to Common Shareholders (dollars and shares in thousands, except per share data) For the Three Months Ended For the Nine Months Ended 9/30/2022 6/30/2022 3/31/2022 12/31/2021 9/30/2021 9/30/2022 9/30/2021 Net (loss) income attributable to common shareholders $ (45,627) $ (143,539) $ (6,514) $ 63,207 $ 18,307 $ (195,680) $ 56,475 Depreciation and amortization 48,519 42,699 22,878 13,396 12,694 114,096 37,202 Equity in earnings of unconsolidated joint venture (3,297) (1,610) (1,727) (35,463) (998) (6,634) (5,455) Loss (gain) on equity securities — 9,450 (3,692) — — 5,758 — Share of FFO from unconsolidated joint venture 1,678 1,676 1,761 1,202 1,215 5,115 3,621 Loss on impairment of real estate — 100,747 — — — 100,747 — Loss (gain) on sale of real estate — 10 — (11,114) (940) 10 (940) FFO adjustments attributable to noncontrolling interest (11,407) (11,434) (4,604) — — (27,445) — FFO attributable to common shareholders (10,134) (2,001) 8,102 31,228 30,278 (4,033) 90,903 Loss on early extinguishment of debt 21,370 — 828 — — 22,198 — Acquisition and other transaction related costs (1) 32,016 30,303 18,673 486 — 80,992 646 FFO Adjustments attributable to NCI (28,379) — — — — (28,379) — Normalized FFO attributable to common shareholders $ 14,873 $ 28,302 $ 27,603 $ 31,714 $ 30,278 $ 70,778 $ 91,549 Weighted average common shares outstanding - basic 65,250 65,221 65,212 65,212 65,178 65,228 65,154 Weighted average common shares outstanding - diluted 65,250 65,221 65,212 65,231 65,230 65,228 65,205 Per Common Share Data (basic and diluted): Net (loss) income attributable to common shareholders $ (0.70) $ (2.20) $ (0.10) $ 0.97 $ 0.28 $ (3.00) $ 0.86 FFO attributable to common shareholders - basic $ (0.16) $ (0.03) $ 0.12 $ 0.48 $ 0.46 $ (0.06) $ 1.40 FFO attributable to common shareholders - diluted $ (0.16) $ (0.03) $ 0.12 $ 0.48 $ 0.46 $ (0.06) $ 1.39 Normalized FFO attributable to common shareholders - basic $ 0.23 $ 0.43 $ 0.42 $ 0.49 $ 0.46 $ 1.09 $ 1.41 Normalized FFO attributable to common shareholders - diluted $ 0.23 $ 0.43 $ 0.42 $ 0.49 $ 0.46 $ 1.09 $ 1.40 RETURN TO TABLE OF CONTENTS (1) Amounts for the three and nine months ended September 30, 2022 and three months ended March 31, 2022 and June 30, 2022, primarily represent debt issuance costs related to the $1,385,000 bridge loan facility we entered into in February 2022, which was scheduled to mature in February 2023. The bridge loan was repaid in full on September 22, 2022. 8644 Polk Lane Olive Branch, MS 234,660 Square Feet ILPT Ownership: 61%

30Supplemental Q3 2022 FFO and Normalized FFO Attributable to Common Shareholders: We calculate funds from operations, or 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 net income (loss) attributable to common shareholders, calculated in accordance with GAAP, excluding loss on impairment of real estate, any gain or loss on sale of real estate, equity in earnings of unconsolidated joint venture and any realized and unrealized gains or losses on equity securities, plus real estate depreciation and amortization of consolidated properties and our proportionate share of FFO of unconsolidated joint venture properties and minus FFO adjustments attributable to noncontrolling interest, as well as certain other adjustments currently not applicable to us. In calculating Normalized FFO attributable to common shareholders, we adjust for the items shown on page 29 including similar adjustments for our unconsolidated joint venture, if any. FFO attributable to common shareholders and Normalized FFO attributable to common shareholders 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 maintain our qualification for taxation as a REIT, limitations in the agreements governing our debt, the availability to us of debt and equity capital, our distribution rate as a percentage of the trading price of our common shares, or dividend yield, and our dividend yield compared to the dividend yields of other industrial REITs, our expectation of our future capital requirements and operating performance and our expected needs for and availability of cash to pay our obligations. Other real estate companies and REITs may calculate FFO attributable to common shareholders and Normalized FFO attributable to common shareholders differently than we do. Non-GAAP Financial Measures: We present certain “non-GAAP financial measures” within the meaning of the applicable rules of the Securities and Exchange Commission, or SEC, including FFO attributable to common shareholders, Normalized FFO attributable to common shareholders, EBITDA, EBITDAre, Adjusted EBITDAre, NOI, same property NOI, Cash Basis NOI and same property Cash Basis NOI. These measures do not represent cash generated by operating activities in accordance with GAAP and should not be considered alternatives to net income (loss) or net income (loss) attributable to common shareholders as indicators of our operating performance or as measures of our liquidity. These measures should be considered in conjunction with net income (loss) and net income (loss) attributable to common shareholders as presented in our condensed consolidated statements of income (loss). We consider these non-GAAP measures to be appropriate supplemental measures of operating performance for a REIT, along with net income (loss) and net income (loss) attributable to common shareholders. We believe 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 our operating performance between periods and with other REITs and, in the case of NOI and 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 our properties. NOI and Cash Basis NOI: The calculations of net operating income, or NOI, and Cash Basis NOI exclude certain components of net income (loss) 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 pages 26 and 27. 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 expense. We define Cash Basis NOI as NOI excluding non-cash straight line rent adjustments, lease value amortization and lease termination fees, if any. We use NOI and Cash Basis NOI to evaluate individual and company-wide property level performance. Other real estate companies and REITs may calculate NOI and Cash Basis NOI differently than we do. Non-GAAP Financial Measures and Certain Definitions EBITDA, EBITDAre and Adjusted EBITDAre: We calculate earnings before interest, taxes, depreciation and amortization, or EBITDA, EBITDA for real estate, or EBITDAre, and Adjusted EBITDAre as shown on page 28. EBITDAre is calculated on the basis defined by Nareit, which is EBITDA, including our proportionate share of EBITDAre from unconsolidated joint venture properties, and excluding gains and losses on the sale of real estate, equity in earnings of unconsolidated joint venture, loss on impairment of real estate, any realized and unrealized gains or losses on equity securities, as well as certain other adjustments currently not applicable to us. In calculating Adjusted EBITDAre, we adjust for the items shown on page 28 . Other real estate companies and REITs may calculate EBITDA, EBITDAre and Adjusted EBITDAre differently than we do. RETURN TO TABLE OF CONTENTS

31Supplemental Q3 2022 Non-GAAP Financial Measures and Certain Definitions (Cont.) Annualized dividend yield - Annualized dividend yield is the annualized dividend paid during the applicable period divided by the closing price of our common shares at the end of the relevant period. Annualized rental revenues - Annualized rental revenues is the annualized contractual rents, as of September 30, 2022, 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. Building improvements - Building improvements generally include (i) expenditures to replace obsolete building components and (ii) expenditures that extend the useful life of existing assets. Development, redevelopment and other activities - Development, redevelopment and other activities generally include capital expenditures projects that (i) reposition a property or (ii) result in new sources of revenue. 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 purchase price allocations, less impairment writedowns, if any. Leased square feet - Leased square feet is pursuant to existing leases as of September 30, 2022, 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. Leasing costs - Leasing costs include leasing related costs, such as brokerage commissions and tenant inducements. Net debt - Net debt is total debt less cash. 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). Same property - For the three months ended September 30, 2022 and 2021, same property NOI and Cash Basis NOI are based on properties that we owned as of September 30, 2022 and that we owned continuously since July 1, 2021, excluding properties owned by an unconsolidated joint venture. For the nine months ended September 30, 2022 and 2021, same property NOI and Cash Basis NOI are based on properties that we owned as of September 30, 2022 and that we owned continuously since January 1, 2021, excluding properties owned by an unconsolidated joint venture. 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 total debt plus the market value of our common shares at the end of the applicable period. RETURN TO TABLE OF CONTENTS

32Supplemental Q3 2022 This supplemental operating and financial data may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. 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. Actual results may differ materially from those contained in or implied by our forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond our control. The information contained in our filings with the SEC, including under “Risk Factors” in our periodic reports, or incorporated therein, identifies important factors that could cause our actual results to differ materially from those stated in or implied by 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 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 RETURN TO TABLE OF CONTENTS