Franklin Street Properties Corp. Provides Additional Update on Review of Strategic Alternatives

Franklin Street Properties Corp. (NYSE American: FSP) (“FSP” or the “Company”) announced today that it is providing an additional update on its previously announced review of strategic alternatives. On May 14, 2025, FSP announced that its Board of Directors had initiated a review of strategic alternatives in order to explore ways to maximize shareholder value. On November 21, 2025, FSP provided an initial update on its review of strategic alternatives. The review remains ongoing and includes a range of potential strategic alternatives, including a sale of the Company, a sale of assets, and a refinancing of existing indebtedness, among others. BofA Securities is acting as FSP’s financial advisor in connection with the review.

George J. Carter, Chairman and CEO of FSP provided the following statement: “The process we first announced in May 2025 to review strategic alternatives in order to explore ways to maximize shareholder value remains ongoing. As initially announced in the Company’s November 21, 2025 press release, FSP remains in active negotiations with a potential lender to refinance all of its existing indebtedness prior to the maturity date of the Company’s existing indebtedness. We look forward to continuing to update the market as and when appropriate.”

No assurances can be given regarding the outcome or timetable for completion of the proposed refinancing transaction or the strategic review process.

This press release, along with other news about FSP, is available on the Internet at www.fspreit.com . We routinely post information that may be important to investors in the Investor Relations section of our website. We encourage investors to consult that section of our website regularly for important information about us and, if they are interested in automatically receiving news and information as soon as it is posted, to sign up for E-mail Alerts.

About Franklin Street Properties Corp.

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income. FSP is a Maryland corporation that operates in a manner intended to qualify as a real estate investment trust (REIT) for federal income tax purposes. To learn more about FSP please visit our website at www.fspreit.com.

Forward-Looking Statements

Statements made in this press release that state FSP’s or management’s intentions, beliefs, expectations, or predictions for the future may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This press release may also contain forward-looking statements, such as those relating to potential strategic alternatives, including, without limitation, the outcome of our active negotiations with a potential lender to refinance all of our existing indebtedness, which are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. Investors are cautioned that our forward-looking statements involve risks and uncertainty, including without limitation, adverse changes in general economic or local market conditions, including as a result of the long-term effects of the COVID-19 pandemic, wars, terrorist attacks or other acts of violence, which may negatively affect the markets in which we and our tenants operate, impacts of changes in tariffs that the United States and other countries have announced or implemented, as well as any additional new tariffs, trade restrictions or export regulations that may be implemented or reversed in the future, inflation rates, interest rates, disruptions in the debt markets, economic conditions in the markets in which we own properties, risks of a lessening of demand for the types of real estate owned by us, adverse changes in energy prices, which if sustained, could negatively impact occupancy and rental rates in the markets in which we own properties, including energy-influenced markets such as Dallas, Denver and Houston, changes in government regulations and regulatory uncertainty, uncertainty about governmental fiscal policy, geopolitical events and expenditures that cannot be anticipated, such as utility rate and usage increases, delays in construction schedules, unanticipated increases in construction costs, increases in the level of general and administrative costs as a percentage of revenues as revenues decrease as a result of property dispositions, unanticipated repairs, additional staffing, insurance increases, real estate tax valuation reassessments, the availability of suitable third parties with which to conduct contemplated strategic transactions, and whether we will be able to pursue a strategic transaction, or whether any transaction, if pursued, will be completed on attractive terms or at all. See the “Risk Factors” set forth in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024, as updated in Part II Item 1A of our Quarterly Report on Form 10-Q for the nine months ended September 30, 2025, which may be further updated from time to time in subsequent filings with the United States Securities and Exchange Commission. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, acquisitions, dispositions, performance or achievements. We will not update any of the forward-looking statements after the date of this press release to conform them to actual results or to changes in our expectations that occur after such date, other than as required by law.

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For Franklin Street Properties Corp.
Georgia Touma, 877-686-9496