Investor Presentation

S E V E N H I L L S R E A L T Y T R U S T

WARNING REGARDING FORWARD-LOOKING STATEMENTS

This presentation contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Whenever Seven Hills Realty Trust, or SEVN, uses words such as "believe", "expect", "anticipate", "intend", "plan", "estimate", "will", "would", "should", "may" and negatives or derivatives of these or similar expressions, SEVN is making forward-looking statements. These forward-looking statements are based upon SEVN's 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 SEVN's forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond SEVN's control.

The information contained in SEVN's filings with the Securities and Exchange Commission, or the SEC, including under the heading "Risk Factors" in SEVN's Annual Report on Form 10-K for the year ended December 31, 2023, and its other periodic reports, or incorporated therein, identifies other important factors that could cause SEVN's actual results to differ materially from those stated in or implied by SEVN's forward-looking statements. SEVN's filings with the SEC are available on the SEC's website at www.sec.gov. These factors should

not be construed as exhaustive and should be read in conjunction with the other cautionary statements‐that are included in this presentation and in the filings. SEVN assumes no obligation to update or supplement forward looking statements that become untrue because of subsequent events or circumstances, except as required by law. SEVN's manager, Tremont Realty Capital, or Tremont, is registered with the SEC as an investment adviser. Tremont is owned by The RMR Group (Nasdaq: RMR).

Notes Regarding Certain Information in this Presentation

This presentation contains industry and statistical data that SEVN obtained from various second party sources. Nothing in the data used or derived from second party sources should be construed as investment advice. Some data and other information presented are also based on SEVN's good faith estimates and beliefs derived from its review of internal surveys and independent sources and its experience. SEVN believes that these external sources, estimates and beliefs are reliable and reasonable, but it has not independently verified them.

Although SEVN is not aware of any misstatements regarding the data presented herein, these estimates and beliefs involve inherent risks and uncertainties and are based on assumptions that are subject to change. Unless otherwise noted, all data presented are as of or for the three months ended June 30, 2024.

Non-GAAP Financial Measures

This presentation contains non-GAAP financial measures including Distributable Earnings and Distributable Earnings per common share. Please refer to Non-GAAP Financial Measures and Certain Definitions in the Appendix for terms used throughout this presentation.

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BUSINESS AT A GLANCE

Seven Hills Realty Trust is a real estate investment trust that originates and invests in floating rate first mortgage loans secured by middle market and transitional commercial real estate, or CRE.

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COMPELLING INVESTMENT OPPORTUNITY

Senior secured, diversified loan portfolio managed by an established CRE lender with an

impressive track record and supported by a nationwide real estate platform.

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LOAN PORTFOLIO OVERVIEW

Well diversified portfolio of 100% floating rate loans with strong credit metrics.

1. Based on principal balance of loans held for investment as of June 30, 2024.

S E V E N H I L L S R E A L T Y T R U S T

REDUCING OFFICE EXPOSURE

During the second quarter, SEVN's office exposure declined to 27%, consisting of six

loans with a weighted average risk rating of 3.9.

Portfolio Composition1

S E V E N H I L L S R E A L T Y T R U S T

ATTRACTIVE MARKET OPPORTUNITY

Demand for CRE debt capital in the underserved middle market is expected to remain strong as alternative lenders like SEVN increase their presence in the marketplace.

• ~84% of CRE asset sales transactions occur between $15 million and $100 million.
• Demand for alternative sources of CRE debt capital has remained strong and competitive conditions remain favorable due to a slowdown in the securitized lending market and curtailed lending in the banking sector.
• Focus on underserved middle market presents opportunity to generate attractive risk adjusted returns.

Middle Market

$15 million - $100 million

84%

2017 2018 2019 2020 2021 2022 2023

1. Source: Real Capital Analytics; data obtained September 2024. Includes all properties sold in transactions greater than $15 million from 2017 to Q2 2024 in the

following property types: Office, Industrial, Retail, Hotel, Apartment and Senior Housing & Care.

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MANAGED BY TREMONT REALTY CAPITAL

Impressive track record with deep experience originating and actively managing middle market and

transitional CRE loans.

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RIGOROUS SCREENING PROCESS

Tremont employs a rigorous investment screening process with a multidisciplinary review to

select the most compelling loan opportunities.

Production Statistics

June 2024 Trailing Twelve Months

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STABLE PORTFOLIO

SEVN anticipates loan production growth in 2024, fueled by improving market sentiment

and its strong competitive positioning among alternative lenders.

Total Loan Commitments by Quarter

(Dollars in millions)

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