Q2 2026 Earnings

Interest Coverage Ratio

7.52

Credit Strength We measure our credit strength both in terms of leverage ratios and coverage ratios. The leverage ratios indicate how much of our balance sheet capitalization is related to long-term debt, net of cash and restricted cash. The coverage ratios indicate our ability to service interest and fixed charges (interest and secured debt principal amortization). We expect to maintain capitalization ratios and coverage ratios sufficient to maintain a capital structure consistent with our current profile. The coverage ratios are based on earnings before interest, taxes, depreciation and amortization (“EBITDA”) and adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). Please refer to the section entitled “Non-GAAP Financial Measures” for further discussion and reconciliation of these measures. Leverage ratios and coverage ratios are widely used by investors, analysts and rating agencies in the valuation, comparison, investment recommendations and rating of companies. The following table reflects the recent historical trends for our credit strength measures for the periods presented: Three Months Ended June 30, | | | March 31, | | | December 31, | | | September 30, | | | June 30, | | | March 31, 2026 | | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 Net debt to book capitalization ratio | | | | | 25% | | | 23% | | | 25% | | | 20% | | | 24% | | | 26% Net debt to undepreciated book capitalization ratio | | | | | 21% | | | 20% | | | 21% | | | 17% | | | 19% | | | 21% Net debt to enterprise value ratio | | | | | 9% | | | 9% | | | 10% | | | 8% | | | 10% | | | 11% Interest coverage ratio | | | | | 7.52x | | | 8.27x | | | 4.63x | | | 6.21x | | | 6.75x | | | 6.14x Fixed charge coverage ratio | | | | | 6.76x | | | 7.59x | | | 4.27x | | | 5.60x | | | 6.03x | | | 5.58x Concentration Risk We evaluate our concentration risk in terms of NOI by property mix, relationship mix and geographic mix. Concentration risk is a valuable measure in understanding what portion of our NOI could be at risk if certain sectors were to experience downturns. Property mix measures the portion of our NOI that relates to our various property types and excludes interest income earned on our loan portfolio, which is classified as Non-segment/Corporate. Relationship mix measures the portion of our NOI that relates to our current top five relationships. Geographic mix measures the portion of our NOI that relates to our current top five states (or countries outside the U.S.).

Seniors Housing Development Projects in Process

50

During the six months ended June 30, 2026, we completed construction conversions representing $257,446,000 or $450,080 per unit. The following is a summary of our consolidated Seniors Housing Operating construction projects in process, excluding expansions, overhead and capitalized interest (dollars in thousands): As of June 30, 2026 Expected Conversion Year (1) Properties | | | Units/Beds | | | Anticipated Remaining Funding | | | Construction in Progress Balance 2026 | | | 10 | | | 921 | | | $ | | 48,428 | | | | $ | | 192,723 2027 | | | 12 | | | 1,545 | | | 273,244 | | | | 189,284 2028 | | | 14 | | | 900 | | | 223,391 | | | | 125,750 TBD (2) 14 | | | | | | | 291,014 Total | | | 50 | | | | | | | $ | | 798,771 (1) Properties expected to be converted in phases over multiple years are reflected in the last expected year. (2) Represents projects for which a final budget or expected conversion date are not yet known.

Net Debt to Book Capitalization

25.0%

Credit Strength We measure our credit strength both in terms of leverage ratios and coverage ratios. The leverage ratios indicate how much of our balance sheet capitalization is related to long-term debt, net of cash and restricted cash. The coverage ratios indicate our ability to service interest and fixed charges (interest and secured debt principal amortization). We expect to maintain capitalization ratios and coverage ratios sufficient to maintain a capital structure consistent with our current profile. The coverage ratios are based on earnings before interest, taxes, depreciation and amortization (“EBITDA”) and adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). Please refer to the section entitled “Non-GAAP Financial Measures” for further discussion and reconciliation of these measures. Leverage ratios and coverage ratios are widely used by investors, analysts and rating agencies in the valuation, comparison, investment recommendations and rating of companies. The following table reflects the recent historical trends for our credit strength measures for the periods presented: Three Months Ended June 30, | | | March 31, | | | December 31, | | | September 30, | | | June 30, | | | March 31, 2026 | | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 Net debt to book capitalization ratio | | | | | 25% | | | 23% | | | 25% | | | 20% | | | 24% | | | 26% Net debt to undepreciated book capitalization ratio | | | | | 21% | | | 20% | | | 21% | | | 17% | | | 19% | | | 21% Net debt to enterprise value ratio | | | | | 9% | | | 9% | | | 10% | | | 8% | | | 10% | | | 11% Interest coverage ratio | | | | | 7.52x | | | 8.27x | | | 4.63x | | | 6.21x | | | 6.75x | | | 6.14x Fixed charge coverage ratio | | | | | 6.76x | | | 7.59x | | | 4.27x | | | 5.60x | | | 6.03x | | | 5.58x Concentration Risk We evaluate our concentration risk in terms of NOI by property mix, relationship mix and geographic mix. Concentration risk is a valuable measure in understanding what portion of our NOI could be at risk if certain sectors were to experience downturns. Property mix measures the portion of our NOI that relates to our various property types and excludes interest income earned on our loan portfolio, which is classified as Non-segment/Corporate. Relationship mix measures the portion of our NOI that relates to our current top five relationships. Geographic mix measures the portion of our NOI that relates to our current top five states (or countries outside the U.S.).

Net Debt to Enterprise Value

9.0%

Credit Strength We measure our credit strength both in terms of leverage ratios and coverage ratios. The leverage ratios indicate how much of our balance sheet capitalization is related to long-term debt, net of cash and restricted cash. The coverage ratios indicate our ability to service interest and fixed charges (interest and secured debt principal amortization). We expect to maintain capitalization ratios and coverage ratios sufficient to maintain a capital structure consistent with our current profile. The coverage ratios are based on earnings before interest, taxes, depreciation and amortization (“EBITDA”) and adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). Please refer to the section entitled “Non-GAAP Financial Measures” for further discussion and reconciliation of these measures. Leverage ratios and coverage ratios are widely used by investors, analysts and rating agencies in the valuation, comparison, investment recommendations and rating of companies. The following table reflects the recent historical trends for our credit strength measures for the periods presented: Three Months Ended June 30, | | | March 31, | | | December 31, | | | September 30, | | | June 30, | | | March 31, 2026 | | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 Net debt to book capitalization ratio | | | | | 25% | | | 23% | | | 25% | | | 20% | | | 24% | | | 26% Net debt to undepreciated book capitalization ratio | | | | | 21% | | | 20% | | | 21% | | | 17% | | | 19% | | | 21% Net debt to enterprise value ratio | | | | | 9% | | | 9% | | | 10% | | | 8% | | | 10% | | | 11% Interest coverage ratio | | | | | 7.52x | | | 8.27x | | | 4.63x | | | 6.21x | | | 6.75x | | | 6.14x Fixed charge coverage ratio | | | | | 6.76x | | | 7.59x | | | 4.27x | | | 5.60x | | | 6.03x | | | 5.58x Concentration Risk We evaluate our concentration risk in terms of NOI by property mix, relationship mix and geographic mix. Concentration risk is a valuable measure in understanding what portion of our NOI could be at risk if certain sectors were to experience downturns. Property mix measures the portion of our NOI that relates to our various property types and excludes interest income earned on our loan portfolio, which is classified as Non-segment/Corporate. Relationship mix measures the portion of our NOI that relates to our current top five relationships. Geographic mix measures the portion of our NOI that relates to our current top five states (or countries outside the U.S.).

Net Debt to Undepreciated Book Capitalization

21.0%

Credit Strength We measure our credit strength both in terms of leverage ratios and coverage ratios. The leverage ratios indicate how much of our balance sheet capitalization is related to long-term debt, net of cash and restricted cash. The coverage ratios indicate our ability to service interest and fixed charges (interest and secured debt principal amortization). We expect to maintain capitalization ratios and coverage ratios sufficient to maintain a capital structure consistent with our current profile. The coverage ratios are based on earnings before interest, taxes, depreciation and amortization (“EBITDA”) and adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). Please refer to the section entitled “Non-GAAP Financial Measures” for further discussion and reconciliation of these measures. Leverage ratios and coverage ratios are widely used by investors, analysts and rating agencies in the valuation, comparison, investment recommendations and rating of companies. The following table reflects the recent historical trends for our credit strength measures for the periods presented: Three Months Ended June 30, | | | March 31, | | | December 31, | | | September 30, | | | June 30, | | | March 31, 2026 | | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 Net debt to book capitalization ratio | | | | | 25% | | | 23% | | | 25% | | | 20% | | | 24% | | | 26% Net debt to undepreciated book capitalization ratio | | | | | 21% | | | 20% | | | 21% | | | 17% | | | 19% | | | 21% Net debt to enterprise value ratio | | | | | 9% | | | 9% | | | 10% | | | 8% | | | 10% | | | 11% Interest coverage ratio | | | | | 7.52x | | | 8.27x | | | 4.63x | | | 6.21x | | | 6.75x | | | 6.14x Fixed charge coverage ratio | | | | | 6.76x | | | 7.59x | | | 4.27x | | | 5.60x | | | 6.03x | | | 5.58x Concentration Risk We evaluate our concentration risk in terms of NOI by property mix, relationship mix and geographic mix. Concentration risk is a valuable measure in understanding what portion of our NOI could be at risk if certain sectors were to experience downturns. Property mix measures the portion of our NOI that relates to our various property types and excludes interest income earned on our loan portfolio, which is classified as Non-segment/Corporate. Relationship mix measures the portion of our NOI that relates to our current top five relationships. Geographic mix measures the portion of our NOI that relates to our current top five states (or countries outside the U.S.).

Seniors Housing Average Occupancy

87.6%

Resident fees and services revenue and property operating expenses increased for the three and six month periods ended June 30, 2026 compared to the same periods in the prior year primarily due to acquisitions, including the acquisitions of Amica Senior Lifestyles, Barchester Healthcare and HC-One Group as described in Note 3 to our consolidated financial statements. Additionally, our Seniors Housing Operating revenues are dependent on occupancy and rate growth, both of which have continued to steadily increase from the same periods in the prior year. Average occupancy is as follows: Three Months Ended (1) March 31, | | | June 30, | | | September 30, | | | December 31, 2025 | | | 85.1 | | % | | | 85.6 | | % | | | 86.9 | | % | | | 87.4 | | % 2026 | | | 87.3 | | % | | | 87.6 | | % (1) Average occupancy includes our minority ownership share related to unconsolidated properties and excludes the minority partners’ noncontrolling ownership share related to consolidated properties. Also excludes land parcels and properties under development.

Consolidated Portfolio Properties

2.8K

The following table summarizes our consolidated portfolio for the three months ended June 30, 2026 (dollars in thousands): Percentage of | | | Number of Type of Property NOI (1) NOI | | | Properties Seniors Housing Operating | | | $ | | 867,227 | | | | 66.1 | | % | | | 1,869 Triple-net | | | 407,498 | | | | 31.0 | | % | | | 829 Outpatient Medical | | | 38,034 | | | | 2.9 | | % | | | 54 Totals | | | $ | | 1,312,759 | | | | 100.0 | | % | | | 2,752 (1) Represents consolidated NOI and excludes our share of investments in unconsolidated entities. Entities in which we have a joint venture with a minority partner are shown at 100% of the joint venture amount. See “Non-GAAP Financial Measures” below for additional information and reconciliation.

Outpatient Medical Properties

54

The following table summarizes our consolidated portfolio for the three months ended June 30, 2026 (dollars in thousands): Percentage of | | | Number of Type of Property NOI (1) NOI | | | Properties Seniors Housing Operating | | | $ | | 867,227 | | | | 66.1 | | % | | | 1,869 Triple-net | | | 407,498 | | | | 31.0 | | % | | | 829 Outpatient Medical | | | 38,034 | | | | 2.9 | | % | | | 54 Totals | | | $ | | 1,312,759 | | | | 100.0 | | % | | | 2,752 (1) Represents consolidated NOI and excludes our share of investments in unconsolidated entities. Entities in which we have a joint venture with a minority partner are shown at 100% of the joint venture amount. See “Non-GAAP Financial Measures” below for additional information and reconciliation.

Seniors Housing Operating Properties

1.9K

The following table summarizes our consolidated portfolio for the three months ended June 30, 2026 (dollars in thousands): Percentage of | | | Number of Type of Property NOI (1) NOI | | | Properties Seniors Housing Operating | | | $ | | 867,227 | | | | 66.1 | | % | | | 1,869 Triple-net | | | 407,498 | | | | 31.0 | | % | | | 829 Outpatient Medical | | | 38,034 | | | | 2.9 | | % | | | 54 Totals | | | $ | | 1,312,759 | | | | 100.0 | | % | | | 2,752 (1) Represents consolidated NOI and excludes our share of investments in unconsolidated entities. Entities in which we have a joint venture with a minority partner are shown at 100% of the joint venture amount. See “Non-GAAP Financial Measures” below for additional information and reconciliation.

Triple-net Properties

829

The following table summarizes our consolidated portfolio for the three months ended June 30, 2026 (dollars in thousands): Percentage of | | | Number of Type of Property NOI (1) NOI | | | Properties Seniors Housing Operating | | | $ | | 867,227 | | | | 66.1 | | % | | | 1,869 Triple-net | | | 407,498 | | | | 31.0 | | % | | | 829 Outpatient Medical | | | 38,034 | | | | 2.9 | | % | | | 54 Totals | | | $ | | 1,312,759 | | | | 100.0 | | % | | | 2,752 (1) Represents consolidated NOI and excludes our share of investments in unconsolidated entities. Entities in which we have a joint venture with a minority partner are shown at 100% of the joint venture amount. See “Non-GAAP Financial Measures” below for additional information and reconciliation.

Consolidated Net Operating Income

$1.39B

The tables below reflect the reconciliation of consolidated NOI to net income, the most directly comparable U.S. GAAP measure, for the periods presented (dollars in thousands): Three Months Ended June 30, | | | March 31, | | | December 31, | | | September 30, | | | June 30, | | | March 31, NOI Reconciliations: | | | | | 2026 | | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 Net income (loss) | | | | | $ | | 462,975 | | | | $ | | 752,324 | | | | $ | | 117,767 | | | | $ | | 282,186 | | | | $ | | 304,618 | | | | $ | | 257,266 Loss (gain) on real estate dispositions and acquisitions of controlling interests, net | | | | | (98,537) | | | | (420,400) | | | | (1,378,391) | | | | (4,025) | | | | (14,850) | | | | (51,777) Loss (income) from unconsolidated entities | | | | | 17,969 | | | | 1,686 | | | | (4,442) | | | | 12,610 | | | | 7,392 | | | | (1,263) Income tax expense (benefit) | | | | | (61,979) | | | | 11,633 | | | | (4,985) | | | | 2,335 | | | | 1,053 | | | | (5,519) Other expenses | | | | | 56,930 | | | | 61,137 | | | | 125,844 | | | | 44,699 | | | | 16,598 | | | | 14,060 Impairment of assets | | | | | 25,774 | | | | 4,826 | | | | 45,924 | | | | 3,081 | | | | 19,876 | | | | 52,402 Provision for loan losses, net | | | | | 2,183 | | | | 1,632 | | | | (7,384) | | | | 1,088 | | | | (1,113) | | | | (2,007) Loss (gain) on extinguishment of debt, net | | | | | 1,984 | | | | 727 | | | | 3,089 | | | | — | | | | — | | | | 6,156 Loss (gain) on derivatives and financial instruments, net | | | | | — | | | | — | | | | (5,656) | | | | 31,682 | | | | (409) | | | | (3,210) General and administrative expenses | | | | | 67,486 | | | | 67,474 | | | | 1,557,378 | | | | 63,124 | | | | 64,175 | | | | 63,758 Depreciation and amortization | | | | | 737,764 | | | | 622,752 | | | | 594,151 | | | | 509,812 | | | | 495,036 | | | | 485,869 Interest expense | | | | | 181,914 | | | | 192,715 | | | | 203,784 | | | | 162,052 | | | | 141,157 | | | | 144,962 Consolidated net operating income (NOI) | | | | | $ | | 1,394,463 | | | | $ | | 1,296,506 | | | | $ | | 1,247,079 | | | | $ | | 1,108,644 | | | | $ | | 1,033,533 | | | | $ | | 960,697 NOI by segment: Seniors Housing Operating | | | | | $ | | 867,227 | | | | $ | | 775,013 | | | | $ | | 697,933 | | | | $ | | 570,900 | | | | $ | | 537,455 | | | | $ | | 483,187 Triple-net | | | | | 407,498 | | | | 384,306 | | | | 374,089 | | | | 278,410 | | | | 265,102 | | | | 246,212 Outpatient Medical | | | | | 38,034 | | | | 53,299 | | | | 101,459 | | | | 151,853 | | | | 148,977 | | | | 146,410 Non-segment/Corporate | | | | | 81,704 | | | | 83,888 | | | | 73,598 | | | | 107,481 | | | | 81,999 | | | | 84,888 Total NOI | | | | | $ | | 1,394,463 | | | | $ | | 1,296,506 | | | | $ | | 1,247,079 | | | | $ | | 1,108,644 | | | | $ | | 1,033,533 | | | | $ | | 960,697

Outpatient Medical NOI

$38.0M

The tables below reflect the reconciliation of consolidated NOI to net income, the most directly comparable U.S. GAAP measure, for the periods presented (dollars in thousands): Three Months Ended June 30, | | | March 31, | | | December 31, | | | September 30, | | | June 30, | | | March 31, NOI Reconciliations: | | | | | 2026 | | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 Net income (loss) | | | | | $ | | 462,975 | | | | $ | | 752,324 | | | | $ | | 117,767 | | | | $ | | 282,186 | | | | $ | | 304,618 | | | | $ | | 257,266 Loss (gain) on real estate dispositions and acquisitions of controlling interests, net | | | | | (98,537) | | | | (420,400) | | | | (1,378,391) | | | | (4,025) | | | | (14,850) | | | | (51,777) Loss (income) from unconsolidated entities | | | | | 17,969 | | | | 1,686 | | | | (4,442) | | | | 12,610 | | | | 7,392 | | | | (1,263) Income tax expense (benefit) | | | | | (61,979) | | | | 11,633 | | | | (4,985) | | | | 2,335 | | | | 1,053 | | | | (5,519) Other expenses | | | | | 56,930 | | | | 61,137 | | | | 125,844 | | | | 44,699 | | | | 16,598 | | | | 14,060 Impairment of assets | | | | | 25,774 | | | | 4,826 | | | | 45,924 | | | | 3,081 | | | | 19,876 | | | | 52,402 Provision for loan losses, net | | | | | 2,183 | | | | 1,632 | | | | (7,384) | | | | 1,088 | | | | (1,113) | | | | (2,007) Loss (gain) on extinguishment of debt, net | | | | | 1,984 | | | | 727 | | | | 3,089 | | | | — | | | | — | | | | 6,156 Loss (gain) on derivatives and financial instruments, net | | | | | — | | | | — | | | | (5,656) | | | | 31,682 | | | | (409) | | | | (3,210) General and administrative expenses | | | | | 67,486 | | | | 67,474 | | | | 1,557,378 | | | | 63,124 | | | | 64,175 | | | | 63,758 Depreciation and amortization | | | | | 737,764 | | | | 622,752 | | | | 594,151 | | | | 509,812 | | | | 495,036 | | | | 485,869 Interest expense | | | | | 181,914 | | | | 192,715 | | | | 203,784 | | | | 162,052 | | | | 141,157 | | | | 144,962 Consolidated net operating income (NOI) | | | | | $ | | 1,394,463 | | | | $ | | 1,296,506 | | | | $ | | 1,247,079 | | | | $ | | 1,108,644 | | | | $ | | 1,033,533 | | | | $ | | 960,697 NOI by segment: Seniors Housing Operating | | | | | $ | | 867,227 | | | | $ | | 775,013 | | | | $ | | 697,933 | | | | $ | | 570,900 | | | | $ | | 537,455 | | | | $ | | 483,187 Triple-net | | | | | 407,498 | | | | 384,306 | | | | 374,089 | | | | 278,410 | | | | 265,102 | | | | 246,212 Outpatient Medical | | | | | 38,034 | | | | 53,299 | | | | 101,459 | | | | 151,853 | | | | 148,977 | | | | 146,410 Non-segment/Corporate | | | | | 81,704 | | | | 83,888 | | | | 73,598 | | | | 107,481 | | | | 81,999 | | | | 84,888 Total NOI | | | | | $ | | 1,394,463 | | | | $ | | 1,296,506 | | | | $ | | 1,247,079 | | | | $ | | 1,108,644 | | | | $ | | 1,033,533 | | | | $ | | 960,697

Seniors Housing Operating NOI

$867.2M

The tables below reflect the reconciliation of consolidated NOI to net income, the most directly comparable U.S. GAAP measure, for the periods presented (dollars in thousands): Three Months Ended June 30, | | | March 31, | | | December 31, | | | September 30, | | | June 30, | | | March 31, NOI Reconciliations: | | | | | 2026 | | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 Net income (loss) | | | | | $ | | 462,975 | | | | $ | | 752,324 | | | | $ | | 117,767 | | | | $ | | 282,186 | | | | $ | | 304,618 | | | | $ | | 257,266 Loss (gain) on real estate dispositions and acquisitions of controlling interests, net | | | | | (98,537) | | | | (420,400) | | | | (1,378,391) | | | | (4,025) | | | | (14,850) | | | | (51,777) Loss (income) from unconsolidated entities | | | | | 17,969 | | | | 1,686 | | | | (4,442) | | | | 12,610 | | | | 7,392 | | | | (1,263) Income tax expense (benefit) | | | | | (61,979) | | | | 11,633 | | | | (4,985) | | | | 2,335 | | | | 1,053 | | | | (5,519) Other expenses | | | | | 56,930 | | | | 61,137 | | | | 125,844 | | | | 44,699 | | | | 16,598 | | | | 14,060 Impairment of assets | | | | | 25,774 | | | | 4,826 | | | | 45,924 | | | | 3,081 | | | | 19,876 | | | | 52,402 Provision for loan losses, net | | | | | 2,183 | | | | 1,632 | | | | (7,384) | | | | 1,088 | | | | (1,113) | | | | (2,007) Loss (gain) on extinguishment of debt, net | | | | | 1,984 | | | | 727 | | | | 3,089 | | | | — | | | | — | | | | 6,156 Loss (gain) on derivatives and financial instruments, net | | | | | — | | | | — | | | | (5,656) | | | | 31,682 | | | | (409) | | | | (3,210) General and administrative expenses | | | | | 67,486 | | | | 67,474 | | | | 1,557,378 | | | | 63,124 | | | | 64,175 | | | | 63,758 Depreciation and amortization | | | | | 737,764 | | | | 622,752 | | | | 594,151 | | | | 509,812 | | | | 495,036 | | | | 485,869 Interest expense | | | | | 181,914 | | | | 192,715 | | | | 203,784 | | | | 162,052 | | | | 141,157 | | | | 144,962 Consolidated net operating income (NOI) | | | | | $ | | 1,394,463 | | | | $ | | 1,296,506 | | | | $ | | 1,247,079 | | | | $ | | 1,108,644 | | | | $ | | 1,033,533 | | | | $ | | 960,697 NOI by segment: Seniors Housing Operating | | | | | $ | | 867,227 | | | | $ | | 775,013 | | | | $ | | 697,933 | | | | $ | | 570,900 | | | | $ | | 537,455 | | | | $ | | 483,187 Triple-net | | | | | 407,498 | | | | 384,306 | | | | 374,089 | | | | 278,410 | | | | 265,102 | | | | 246,212 Outpatient Medical | | | | | 38,034 | | | | 53,299 | | | | 101,459 | | | | 151,853 | | | | 148,977 | | | | 146,410 Non-segment/Corporate | | | | | 81,704 | | | | 83,888 | | | | 73,598 | | | | 107,481 | | | | 81,999 | | | | 84,888 Total NOI | | | | | $ | | 1,394,463 | | | | $ | | 1,296,506 | | | | $ | | 1,247,079 | | | | $ | | 1,108,644 | | | | $ | | 1,033,533 | | | | $ | | 960,697

Triple-net NOI

$407.5M

The tables below reflect the reconciliation of consolidated NOI to net income, the most directly comparable U.S. GAAP measure, for the periods presented (dollars in thousands): Three Months Ended June 30, | | | March 31, | | | December 31, | | | September 30, | | | June 30, | | | March 31, NOI Reconciliations: | | | | | 2026 | | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 Net income (loss) | | | | | $ | | 462,975 | | | | $ | | 752,324 | | | | $ | | 117,767 | | | | $ | | 282,186 | | | | $ | | 304,618 | | | | $ | | 257,266 Loss (gain) on real estate dispositions and acquisitions of controlling interests, net | | | | | (98,537) | | | | (420,400) | | | | (1,378,391) | | | | (4,025) | | | | (14,850) | | | | (51,777) Loss (income) from unconsolidated entities | | | | | 17,969 | | | | 1,686 | | | | (4,442) | | | | 12,610 | | | | 7,392 | | | | (1,263) Income tax expense (benefit) | | | | | (61,979) | | | | 11,633 | | | | (4,985) | | | | 2,335 | | | | 1,053 | | | | (5,519) Other expenses | | | | | 56,930 | | | | 61,137 | | | | 125,844 | | | | 44,699 | | | | 16,598 | | | | 14,060 Impairment of assets | | | | | 25,774 | | | | 4,826 | | | | 45,924 | | | | 3,081 | | | | 19,876 | | | | 52,402 Provision for loan losses, net | | | | | 2,183 | | | | 1,632 | | | | (7,384) | | | | 1,088 | | | | (1,113) | | | | (2,007) Loss (gain) on extinguishment of debt, net | | | | | 1,984 | | | | 727 | | | | 3,089 | | | | — | | | | — | | | | 6,156 Loss (gain) on derivatives and financial instruments, net | | | | | — | | | | — | | | | (5,656) | | | | 31,682 | | | | (409) | | | | (3,210) General and administrative expenses | | | | | 67,486 | | | | 67,474 | | | | 1,557,378 | | | | 63,124 | | | | 64,175 | | | | 63,758 Depreciation and amortization | | | | | 737,764 | | | | 622,752 | | | | 594,151 | | | | 509,812 | | | | 495,036 | | | | 485,869 Interest expense | | | | | 181,914 | | | | 192,715 | | | | 203,784 | | | | 162,052 | | | | 141,157 | | | | 144,962 Consolidated net operating income (NOI) | | | | | $ | | 1,394,463 | | | | $ | | 1,296,506 | | | | $ | | 1,247,079 | | | | $ | | 1,108,644 | | | | $ | | 1,033,533 | | | | $ | | 960,697 NOI by segment: Seniors Housing Operating | | | | | $ | | 867,227 | | | | $ | | 775,013 | | | | $ | | 697,933 | | | | $ | | 570,900 | | | | $ | | 537,455 | | | | $ | | 483,187 Triple-net | | | | | 407,498 | | | | 384,306 | | | | 374,089 | | | | 278,410 | | | | 265,102 | | | | 246,212 Outpatient Medical | | | | | 38,034 | | | | 53,299 | | | | 101,459 | | | | 151,853 | | | | 148,977 | | | | 146,410 Non-segment/Corporate | | | | | 81,704 | | | | 83,888 | | | | 73,598 | | | | 107,481 | | | | 81,999 | | | | 84,888 Total NOI | | | | | $ | | 1,394,463 | | | | $ | | 1,296,506 | | | | $ | | 1,247,079 | | | | $ | | 1,108,644 | | | | $ | | 1,033,533 | | | | $ | | 960,697

FFO per Diluted Share

$1.56

The tables below reflect the reconciliation of FFO to NICS, the most directly comparable U.S. GAAP measure, for the periods presented. Noncontrolling interest and unconsolidated entity amounts represent adjustments to reflect our share of depreciation and amortization, gains/losses on real estate dispositio ns and acquisitions of controlling interests a nd impairment of assets. Amounts are in thousands except for per share data. Three Months Ended June 30, | | | March 31, | | | December 31, | | | September 30, | | | June 30, | | | March 31, FFO Reconciliation: | | | | | 2026 | | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 Net income (loss) attributable to common stockholders | | | | | $ | | 445,002 | | | | $ | | 728,672 | | | | $ | | 96,441 | | | | $ | | 280,559 | | | | $ | | 301,888 | | | | $ | | 257,957 Depreciation and amortization | | | | | 737,764 | | | | 622,752 | | | | 594,151 | | | | 509,812 | | | | 495,036 | | | | 485,869 Impairment of assets | | | | | 25,774 | | | | 4,826 | | | | 45,924 | | | | 3,081 | | | | 19,876 | | | | 52,402 Loss (gain) on real estate dispositions and acquisitions of controlling interests, net | | | | | (98,537) | | | | (420,400) | | | | (1,378,391) | | | | (4,025) | | | | (14,850) | | | | (51,777) Noncontrolling interests | | | | | 10,639 | | | | 17,100 | | | | 11,940 | | | | (9,360) | | | | (6,256) | | | | (9,468) Unconsolidated entities | | | | | 33,011 | | | | 29,598 | | | | 32,598 | | | | 44,308 | | | | 30,023 | | | | 30,214 FFO | | | | | $ | | 1,153,653 | | | | $ | | 982,548 | | | | $ | | (597,337) | | | | $ | | 824,375 | | | | $ | | 825,717 | | | | $ | | 765,197 Average diluted shares outstanding For net income attributable to common stockholders | | | | | 737,956 | | | | 726,255 | | | | 710,167 | | | | 685,399 | | | | 668,140 | | | | 653,795 For FFO | | | | | 737,956 | | | | 726,255 | | | | 689,582 | | | | 685,399 | | | | 668,140 | | | | 653,795 Per diluted share data: Net income attributable to common stockholders (1) $ | | 0.61 | | | | $ | | 1.02 | | | | $ | | 0.14 | | | | $ | | 0.41 | | | | $ | | 0.45 | | | | $ | | 0.40 FFO | | | | | $ | | 1.56 | | | | $ | | 1.35 | | | | $ | | (0.87) | | | | $ | | 1.20 | | | | $ | | 1.24 | | | | $ | | 1.17 (1) Includes adjustment to the numerator for income (loss) attributable to OP Unitholders.

Funds From Operations

$1.15B

The tables below reflect the reconciliation of FFO to NICS, the most directly comparable U.S. GAAP measure, for the periods presented. Noncontrolling interest and unconsolidated entity amounts represent adjustments to reflect our share of depreciation and amortization, gains/losses on real estate dispositio ns and acquisitions of controlling interests a nd impairment of assets. Amounts are in thousands except for per share data. Three Months Ended June 30, | | | March 31, | | | December 31, | | | September 30, | | | June 30, | | | March 31, FFO Reconciliation: | | | | | 2026 | | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 Net income (loss) attributable to common stockholders | | | | | $ | | 445,002 | | | | $ | | 728,672 | | | | $ | | 96,441 | | | | $ | | 280,559 | | | | $ | | 301,888 | | | | $ | | 257,957 Depreciation and amortization | | | | | 737,764 | | | | 622,752 | | | | 594,151 | | | | 509,812 | | | | 495,036 | | | | 485,869 Impairment of assets | | | | | 25,774 | | | | 4,826 | | | | 45,924 | | | | 3,081 | | | | 19,876 | | | | 52,402 Loss (gain) on real estate dispositions and acquisitions of controlling interests, net | | | | | (98,537) | | | | (420,400) | | | | (1,378,391) | | | | (4,025) | | | | (14,850) | | | | (51,777) Noncontrolling interests | | | | | 10,639 | | | | 17,100 | | | | 11,940 | | | | (9,360) | | | | (6,256) | | | | (9,468) Unconsolidated entities | | | | | 33,011 | | | | 29,598 | | | | 32,598 | | | | 44,308 | | | | 30,023 | | | | 30,214 FFO | | | | | $ | | 1,153,653 | | | | $ | | 982,548 | | | | $ | | (597,337) | | | | $ | | 824,375 | | | | $ | | 825,717 | | | | $ | | 765,197 Average diluted shares outstanding For net income attributable to common stockholders | | | | | 737,956 | | | | 726,255 | | | | 710,167 | | | | 685,399 | | | | 668,140 | | | | 653,795 For FFO | | | | | 737,956 | | | | 726,255 | | | | 689,582 | | | | 685,399 | | | | 668,140 | | | | 653,795 Per diluted share data: Net income attributable to common stockholders (1) $ | | 0.61 | | | | $ | | 1.02 | | | | $ | | 0.14 | | | | $ | | 0.41 | | | | $ | | 0.45 | | | | $ | | 0.40 FFO | | | | | $ | | 1.56 | | | | $ | | 1.35 | | | | $ | | (0.87) | | | | $ | | 1.20 | | | | $ | | 1.24 | | | | $ | | 1.17 (1) Includes adjustment to the numerator for income (loss) attributable to OP Unitholders.

Triple-net Leases with Rental Rate Increases

26

(1) See “Non-GAAP Financial Measures” below for additional information and reconciliations. The increase in rental income for the three and six months ended June 30, 2026 is primarily attributable to acquisitions completed during the trailing twelve months and annual rent increases. Certain of our leases contain annual rental escalators that are contingent upon changes in the Consumer Price Index and/or changes in the gross operating revenues of the tenant’s properties. These escalators are not fixed, so no straight-line rent is recorded; however, rental income is recorded based on the contractual cash rental payments due for the applicable period. If gross operating revenues at our facilities and/or the Consumer Price Index do not increase, a portion of our revenues may not continue to increase. During the six months ended June 30, 2026, our Triple-net portfolio had 26 leases with rental rate increases and a weighted average increase of 4.4%. Interest income is primarily related to leases that were classified as sales-type leases.

Triple-net Weighted Average Rental Increase

4.4%

(1) See “Non-GAAP Financial Measures” below for additional information and reconciliations. The increase in rental income for the three and six months ended June 30, 2026 is primarily attributable to acquisitions completed during the trailing twelve months and annual rent increases. Certain of our leases contain annual rental escalators that are contingent upon changes in the Consumer Price Index and/or changes in the gross operating revenues of the tenant’s properties. These escalators are not fixed, so no straight-line rent is recorded; however, rental income is recorded based on the contractual cash rental payments due for the applicable period. If gross operating revenues at our facilities and/or the Consumer Price Index do not increase, a portion of our revenues may not continue to increase. During the six months ended June 30, 2026, our Triple-net portfolio had 26 leases with rental rate increases and a weighted average increase of 4.4%. Interest income is primarily related to leases that were classified as sales-type leases.

Same Store Properties

1.6K

The following is a reconciliation of the properties included in our QTD Pool and YTD Pool for SSNOI: QTD Pool | | | YTD Pool SSNOI Property Reconciliations: | | | Seniors Housing Operating | | | Triple-net | | | Outpatient Medical | | | Total | | | Seniors Housing Operating | | | Triple-net | | | Outpatient Medical | | | Total Consolidated properties 1,869 | | | | 829 | | | | 54 | | | | 2,752 | | | | 1,869 | | | | 829 | | | | 54 | | | | 2,752 Unconsolidated properties 125 | | | | — | | | | 73 | | | | 198 | | | | 125 | | | | — | | | | 73 | | | | 198 Total properties 1,994 | | | | 829 | | | | 127 | | | | 2,950 | | | | 1,994 | | | | 829 | | | | 127 | | | | 2,950 Recent acquisitions/development conversions (1) (636) | | | | (320) | | | | (4) | | | | (960) | | | | (756) | | | | (379) | | | | (7) | | | | (1,142) Under development (41) | | | | — | | | | — | | | | (41) | | | | (41) | | | | — | | | | — | | | | (41) Under redevelopment (2) (2) | | | | — | | | | — | | | | (2) | | | | (2) | | | | — | | | | — | | | | (2) Current held for sale | | | (22) | | | | (2) | | | | (29) | | | | (53) | | | | (22) | | | | (2) | | | | (29) | | | | (53) Land parcels, loans and leased properties | | | (171) | | | | (4) | | | | (5) | | | | (180) | | | | (171) | | | | (4) | | | | (5) | | | | (180) Transitions (3) (134) | | | | (3) | | | | — | | | | (137) | | | | (87) | | | | (3) | | | | — | | | | (90) Other (4) (8) | | | | (1) | | | | — | | | | (9) | | | | (8) | | | | (1) | | | | — | | | | (9) Same store properties 980 | | | | 499 | | | | 89 | | | | 1,568 | | | | 907 | | | | 440 | | | | 86 | | | | 1,433 (1) Acquisitions and development conversions will enter the QTD Pool after five full quarters and YTD Pool after six full quarters from acquisition or certificate of occupancy. (2) Redevelopment properties will enter the QTD Pool after five full quarters and YTD Pool after six full quarters of operations post redevelopment completion. (3) Transitioned properties will enter the QTD Pool after five full quarters and YTD Pool after six full quarters of operations with the new operator in place or under the new structure. (4) Represents properties that are either closed or being closed.

Outpatient Medical Same Store NOI

$26.9M

The following is a reconciliation of our consolidated NOI to same store NOI for the periods presented for the QTD Pool and YTD Pool (dollars in thousands): QTD Pool | | | YTD Pool Three Months Ended | | | Six Months Ended June 30, | | | June 30, SSNOI Reconciliations: | | | 2026 | | | 2025 | | | 2026 | | | 2025 Seniors Housing Operating: Consolidated NOI | | | $ | | 867,227 | | | | $ | | 537,455 | | | | $ | | 1,642,240 | | | | $ | | 1,020,642 NOI attributable to unconsolidated investments | | | 21,125 | | | | 18,381 | | | | 41,137 | | | | 38,927 NOI attributable to noncontrolling interests | | | (15,462) | | | | (12,726) | | | | (29,567) | | | | (25,811) NOI attributable to non-same store properties | | | (288,148) | | | | (58,945) | | | | (577,766) | | | | (149,635) Non-cash NOI attributable to same store properties | | | (1,294) | | | | (1,614) | | | | (2,775) | | | | (6,055) Currency and ownership adjustments (1) (833) | | | | (939) | | | | (2,268) | | | | 6,888 SSNOI at Welltower Share | | | 582,615 | | | | 481,612 | | | | 1,071,001 | | | | 884,956 Triple-net: Consolidated NOI | | | 407,498 | | | | 265,102 | | | | 791,804 | | | | 511,314 NOI attributable to noncontrolling interests | | | (1,031) | | | | (3,690) | | | | (2,067) | | | | (7,407) NOI attributable to non-same store properties | | | (172,508) | | | | (45,299) | | | | (398,668) | | | | (138,709) Non-cash NOI attributable to same store properties | | | (37,391) | | | | (35,676) | | | | (51,763) | | | | (54,053) Currency and ownership adjustments (1) (259) | | | | 1,983 | | | | (554) | | | | 5,359 SSNOI at Welltower Share | | | 196,309 | | | | 182,420 | | | | 338,752 | | | | 316,504 Outpatient Medical: Consolidated NOI | | | 38,034 | | | | 148,977 | | | | 91,333 | | | | 295,387 NOI attributable to unconsolidated investments | | | 4,450 | | | | 4,170 | | | | 8,706 | | | | 8,204 NOI attributable to noncontrolling interests | | | (969) | | | | (2,626) | | | | (2,184) | | | | (5,181) NOI attributable to non-same store properties | | | (11,584) | | | | (120,466) | | | | (45,004) | | | | (245,698) Non-cash NOI attributable to same store properties | | | (3,036) | | | | (3,573) | | | | (4,783) | | | | (5,640) SSNOI at Welltower Share | | | 26,895 | | | | 26,482 | | | | 48,068 | | | | 47,073 SSNOI at Welltower Share: Seniors Housing Operating | | | 582,615 | | | | 481,612 | | | | 1,071,001 | | | | 884,956 Triple-net | | | 196,309 | | | | 182,420 | | | | 338,752 | | | | 316,504 Outpatient Medical | | | 26,895 | | | | 26,482 | | | | 48,068 | | | | 47,073 Total | | | $ | | 805,819 | | | | $ | | 690,514 | | | | $ | | 1,457,821 | | | | $ | | 1,248,533 (1) Includes adjustments to reflect consistent property ownership percentages, to translate Canadian properties at a USD/CAD rate of 1.43 and to translate U.K. properties at a GBP/USD rate of 1.23.

Same Store NOI at Welltower Share

$805.8M

The following is a reconciliation of our consolidated NOI to same store NOI for the periods presented for the QTD Pool and YTD Pool (dollars in thousands): QTD Pool | | | YTD Pool Three Months Ended | | | Six Months Ended June 30, | | | June 30, SSNOI Reconciliations: | | | 2026 | | | 2025 | | | 2026 | | | 2025 Seniors Housing Operating: Consolidated NOI | | | $ | | 867,227 | | | | $ | | 537,455 | | | | $ | | 1,642,240 | | | | $ | | 1,020,642 NOI attributable to unconsolidated investments | | | 21,125 | | | | 18,381 | | | | 41,137 | | | | 38,927 NOI attributable to noncontrolling interests | | | (15,462) | | | | (12,726) | | | | (29,567) | | | | (25,811) NOI attributable to non-same store properties | | | (288,148) | | | | (58,945) | | | | (577,766) | | | | (149,635) Non-cash NOI attributable to same store properties | | | (1,294) | | | | (1,614) | | | | (2,775) | | | | (6,055) Currency and ownership adjustments (1) (833) | | | | (939) | | | | (2,268) | | | | 6,888 SSNOI at Welltower Share | | | 582,615 | | | | 481,612 | | | | 1,071,001 | | | | 884,956 Triple-net: Consolidated NOI | | | 407,498 | | | | 265,102 | | | | 791,804 | | | | 511,314 NOI attributable to noncontrolling interests | | | (1,031) | | | | (3,690) | | | | (2,067) | | | | (7,407) NOI attributable to non-same store properties | | | (172,508) | | | | (45,299) | | | | (398,668) | | | | (138,709) Non-cash NOI attributable to same store properties | | | (37,391) | | | | (35,676) | | | | (51,763) | | | | (54,053) Currency and ownership adjustments (1) (259) | | | | 1,983 | | | | (554) | | | | 5,359 SSNOI at Welltower Share | | | 196,309 | | | | 182,420 | | | | 338,752 | | | | 316,504 Outpatient Medical: Consolidated NOI | | | 38,034 | | | | 148,977 | | | | 91,333 | | | | 295,387 NOI attributable to unconsolidated investments | | | 4,450 | | | | 4,170 | | | | 8,706 | | | | 8,204 NOI attributable to noncontrolling interests | | | (969) | | | | (2,626) | | | | (2,184) | | | | (5,181) NOI attributable to non-same store properties | | | (11,584) | | | | (120,466) | | | | (45,004) | | | | (245,698) Non-cash NOI attributable to same store properties | | | (3,036) | | | | (3,573) | | | | (4,783) | | | | (5,640) SSNOI at Welltower Share | | | 26,895 | | | | 26,482 | | | | 48,068 | | | | 47,073 SSNOI at Welltower Share: Seniors Housing Operating | | | 582,615 | | | | 481,612 | | | | 1,071,001 | | | | 884,956 Triple-net | | | 196,309 | | | | 182,420 | | | | 338,752 | | | | 316,504 Outpatient Medical | | | 26,895 | | | | 26,482 | | | | 48,068 | | | | 47,073 Total | | | $ | | 805,819 | | | | $ | | 690,514 | | | | $ | | 1,457,821 | | | | $ | | 1,248,533 (1) Includes adjustments to reflect consistent property ownership percentages, to translate Canadian properties at a USD/CAD rate of 1.43 and to translate U.K. properties at a GBP/USD rate of 1.23.

Seniors Housing Same Store NOI

$582.6M

The following is a reconciliation of our consolidated NOI to same store NOI for the periods presented for the QTD Pool and YTD Pool (dollars in thousands): QTD Pool | | | YTD Pool Three Months Ended | | | Six Months Ended June 30, | | | June 30, SSNOI Reconciliations: | | | 2026 | | | 2025 | | | 2026 | | | 2025 Seniors Housing Operating: Consolidated NOI | | | $ | | 867,227 | | | | $ | | 537,455 | | | | $ | | 1,642,240 | | | | $ | | 1,020,642 NOI attributable to unconsolidated investments | | | 21,125 | | | | 18,381 | | | | 41,137 | | | | 38,927 NOI attributable to noncontrolling interests | | | (15,462) | | | | (12,726) | | | | (29,567) | | | | (25,811) NOI attributable to non-same store properties | | | (288,148) | | | | (58,945) | | | | (577,766) | | | | (149,635) Non-cash NOI attributable to same store properties | | | (1,294) | | | | (1,614) | | | | (2,775) | | | | (6,055) Currency and ownership adjustments (1) (833) | | | | (939) | | | | (2,268) | | | | 6,888 SSNOI at Welltower Share | | | 582,615 | | | | 481,612 | | | | 1,071,001 | | | | 884,956 Triple-net: Consolidated NOI | | | 407,498 | | | | 265,102 | | | | 791,804 | | | | 511,314 NOI attributable to noncontrolling interests | | | (1,031) | | | | (3,690) | | | | (2,067) | | | | (7,407) NOI attributable to non-same store properties | | | (172,508) | | | | (45,299) | | | | (398,668) | | | | (138,709) Non-cash NOI attributable to same store properties | | | (37,391) | | | | (35,676) | | | | (51,763) | | | | (54,053) Currency and ownership adjustments (1) (259) | | | | 1,983 | | | | (554) | | | | 5,359 SSNOI at Welltower Share | | | 196,309 | | | | 182,420 | | | | 338,752 | | | | 316,504 Outpatient Medical: Consolidated NOI | | | 38,034 | | | | 148,977 | | | | 91,333 | | | | 295,387 NOI attributable to unconsolidated investments | | | 4,450 | | | | 4,170 | | | | 8,706 | | | | 8,204 NOI attributable to noncontrolling interests | | | (969) | | | | (2,626) | | | | (2,184) | | | | (5,181) NOI attributable to non-same store properties | | | (11,584) | | | | (120,466) | | | | (45,004) | | | | (245,698) Non-cash NOI attributable to same store properties | | | (3,036) | | | | (3,573) | | | | (4,783) | | | | (5,640) SSNOI at Welltower Share | | | 26,895 | | | | 26,482 | | | | 48,068 | | | | 47,073 SSNOI at Welltower Share: Seniors Housing Operating | | | 582,615 | | | | 481,612 | | | | 1,071,001 | | | | 884,956 Triple-net | | | 196,309 | | | | 182,420 | | | | 338,752 | | | | 316,504 Outpatient Medical | | | 26,895 | | | | 26,482 | | | | 48,068 | | | | 47,073 Total | | | $ | | 805,819 | | | | $ | | 690,514 | | | | $ | | 1,457,821 | | | | $ | | 1,248,533 (1) Includes adjustments to reflect consistent property ownership percentages, to translate Canadian properties at a USD/CAD rate of 1.43 and to translate U.K. properties at a GBP/USD rate of 1.23.

Triple-net Same Store NOI

$196.3M

The following is a reconciliation of our consolidated NOI to same store NOI for the periods presented for the QTD Pool and YTD Pool (dollars in thousands): QTD Pool | | | YTD Pool Three Months Ended | | | Six Months Ended June 30, | | | June 30, SSNOI Reconciliations: | | | 2026 | | | 2025 | | | 2026 | | | 2025 Seniors Housing Operating: Consolidated NOI | | | $ | | 867,227 | | | | $ | | 537,455 | | | | $ | | 1,642,240 | | | | $ | | 1,020,642 NOI attributable to unconsolidated investments | | | 21,125 | | | | 18,381 | | | | 41,137 | | | | 38,927 NOI attributable to noncontrolling interests | | | (15,462) | | | | (12,726) | | | | (29,567) | | | | (25,811) NOI attributable to non-same store properties | | | (288,148) | | | | (58,945) | | | | (577,766) | | | | (149,635) Non-cash NOI attributable to same store properties | | | (1,294) | | | | (1,614) | | | | (2,775) | | | | (6,055) Currency and ownership adjustments (1) (833) | | | | (939) | | | | (2,268) | | | | 6,888 SSNOI at Welltower Share | | | 582,615 | | | | 481,612 | | | | 1,071,001 | | | | 884,956 Triple-net: Consolidated NOI | | | 407,498 | | | | 265,102 | | | | 791,804 | | | | 511,314 NOI attributable to noncontrolling interests | | | (1,031) | | | | (3,690) | | | | (2,067) | | | | (7,407) NOI attributable to non-same store properties | | | (172,508) | | | | (45,299) | | | | (398,668) | | | | (138,709) Non-cash NOI attributable to same store properties | | | (37,391) | | | | (35,676) | | | | (51,763) | | | | (54,053) Currency and ownership adjustments (1) (259) | | | | 1,983 | | | | (554) | | | | 5,359 SSNOI at Welltower Share | | | 196,309 | | | | 182,420 | | | | 338,752 | | | | 316,504 Outpatient Medical: Consolidated NOI | | | 38,034 | | | | 148,977 | | | | 91,333 | | | | 295,387 NOI attributable to unconsolidated investments | | | 4,450 | | | | 4,170 | | | | 8,706 | | | | 8,204 NOI attributable to noncontrolling interests | | | (969) | | | | (2,626) | | | | (2,184) | | | | (5,181) NOI attributable to non-same store properties | | | (11,584) | | | | (120,466) | | | | (45,004) | | | | (245,698) Non-cash NOI attributable to same store properties | | | (3,036) | | | | (3,573) | | | | (4,783) | | | | (5,640) SSNOI at Welltower Share | | | 26,895 | | | | 26,482 | | | | 48,068 | | | | 47,073 SSNOI at Welltower Share: Seniors Housing Operating | | | 582,615 | | | | 481,612 | | | | 1,071,001 | | | | 884,956 Triple-net | | | 196,309 | | | | 182,420 | | | | 338,752 | | | | 316,504 Outpatient Medical | | | 26,895 | | | | 26,482 | | | | 48,068 | | | | 47,073 Total | | | $ | | 805,819 | | | | $ | | 690,514 | | | | $ | | 1,457,821 | | | | $ | | 1,248,533 (1) Includes adjustments to reflect consistent property ownership percentages, to translate Canadian properties at a USD/CAD rate of 1.43 and to translate U.K. properties at a GBP/USD rate of 1.23.