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THE RMR GROUP Two Newton Place 255 Washington Street , Suite 300 Newton , Massachusetts 02458 617-796-8390 rmrgroup.com FOR IMMEDIATE RELEASE The RMR Group Inc. Announces Second Quarter Fiscal 2021 Results Net Income Attributable to The RMR Group Inc. of $ 0.30 Per Diluted Share and Adjusted Net Income Attributable to The RMR Group Inc. of $ 0.37 Per Diluted Share Newton , MA ( May 7 , 2021 ) : The RMR Group Inc. ( Nasdaq : RMR ) today announced its financial results for the fiscal quarter ended March 31 , 2021 . Adam Portnoy , President and Chief Executive Officer , made the following statement regarding the second quarter fiscal 2021 results : " In the second fiscal quarter , RMR generated total management and advisory services revenues of $ 42.0 million , which represents our third straight quarter of service revenue growth from early pandemic lows and primarily comes from growth at our Managed Equity REITs . Throughout the pandemic , we have remained focused as an organization on the recovery and repositioning of our clients , which includes recent efforts such as strategically amending the Five Star Senior Living and Diversified Healthcare Trust management agreements , assisting RMR Mortgage Trust and Tremont Mortgage Trust with their agreement to merge into a larger more diversified commercial mortgage REIT and successfully assisting Sonesta in taking on the management of almost 200 Service Properties Trust owned hotels . We are also cautiously optimistic that we may begin earning incentive fees this calendar year , as Office Properties Income Trust began accruing a $ 20.8 million estimated incentive fee for calendar 2021 based on its total return per share out - performance relative to its peers . RMR's balance sheet remains strong , with over $ 376 million of cash on hand and no debt , leaving us well positioned as we assess capital allocation strategies . " Second Quarter Fiscal 2021 Highlights : As of March 31 , 2021 , The RMR Group LLC had $ 31.8 billion of assets under management , or AUM , compared to $ 32.1 billion as of March 31 , 2020 . Total management and advisory services revenues for the quarter ended March 31 , 2021 , were $ 42.0 million , including $ 0.6 million of incentive business management fees from Tremont Mortgage Trust , compared to $ 44.1 million for the quarter ended March 31 , 2020 .