Exhibit 99.2

 

Second Quarter 2021 Earnings Supplemental Three and Six Months Ended June 30, 2021 www.globalmedicalreit.com NYSE: GMRE

 

 

Corporate Information and Analyst Coverage 2 2Q - 2021| Earnings Supplemental Executive Team Jeffrey Busch Chief Executive Officer, Chairman and President Alfonzo Leon Chief Investment Officer Danica Holley Chief Operating Officer Bob Kiernan Chief Financial Officer and Treasurer Jamie Barber General Counsel and Corporate Secretary Board of Directors Jeffrey Busch Chief Executive Officer, Chairman and President Henry Cole Lead Independent Director and Compensation Committee Chair Paula Crowley Director Matthew Cypher, Ph.D. Investment Committee Chair Zhang Huiqi Director Ronald Marston Nominating and Corporate Governance Committee Chair Dr. Roscoe Moore Director Lori Wittman Audit Committee Chair Sell-Side Analyst Coverage Firm Name Email Phone Baird Amanda Sweitzer asweitzer@rwbaird.com 414.298.1706 Berenberg Capital Connor Siversky connor.siversky@berenberg-us.com 646.949.9037 BMO Juan Sanabria juan.sanabria@bmo.com 312.845.4074 B. Riley Securities Bryan Maher bmaher@brileyfbr.com 646.885.5423 Colliers Securities Barry Oxford barry.oxford@colliers.com 203.961.8573 Compass Point Merrill Ross mross@compasspointllc.com 202.534.1392 Janney Robert Stevenson robstevenson@janney.com 646.448.3028 Stifel Stephen Manaker manakers@stifel.com 212.271.3716 Corporate Information Corporate Headquarters Stock Exchange Listing Transfer Agent Investor Relations 2 Bethesda Metro Center, Suite 440 New York Stock Exchange American Stock Transfer & Trust Company Stephen Swett – stephen.swett@icrinc.com; 203.682.8377 Bethesda, MD 20814 Ticker: GMRE 800.937.5449

 

 

Select Quarterly Financial Data (unaudited, and in thousands, except per share and unit amounts) 3 2Q - 2021| Earnings Supplemental * See Page 9 for a reconciliation of non - GAAP financial measures for Funds from Operations (FFO ) and Adjusted Funds from Operations (AFFO). June 30, March 31, December 31, September 30, June 30, As of Period End (unless otherwise specified) 2021 2021 2020 2020 2020 Market capitalization (common and OP) $ 972,832 $ 820,135 $ 668,999 $ 676,971 $ 546,219 Market price per share - common $ 14.76 $ 13.11 $ 13.06 $ 13.50 $ 11.33 Common shares and OP units outstanding 65,910 62,558 51,225 50,146 48,210 Preferred equity $ 74,959 $ 74,959 $ 74,959 $ 74,959 $ 74,959 Common equity $ 548,230 $ 506,942 $ 369,846 $ 359,568 $ 352,962 Noncontrolling interest $ 14,066 $ 13,918 $ 12,955 $ 14,680 $ 14,788 Total stockholders' equity $ 637,255 $ 595,819 $ 457,760 $ 449,207 $ 442,709 Investment in real estate, gross $ 1,260,324 $ 1,186,475 $ 1,142,905 $ 1,061,380 $ 996,876 Borrowings: Credit Facility - revolver, gross $ 101,100 $ 73,500 $ 175,200 $ 108,200 $ 119,200 Credit Facility - term loan, gross $ 350,000 $ 350,000 $ 350,000 $ 350,000 $ 300,000 Notes payable, gross $ 65,326 $ 65,582 $ 65,772 $ 65,958 $ 51,278 Weighted average interest rate for quarter 3.17% 3.17% 3.22% 3.32% 3.38% Debt Covenants: Leverage ratio (as defined in Credit Facility) 40.8% 41.1% 51.7% 49.6% 47.0% Fixed charge coverage ratio for quarter (1.50x minimum allowed) 3.01 2.88 2.77 2.66 2.51 June 30, March 31, December 31, September 30, June 30, Three Months Ended 2021 2021 2020 2020 2020 Rental revenue $ 28,200 $ 27,325 $ 24,895 $ 25,055 $ 22,036 Interest expense $ 5,020 $ 5,037 $ 5,064 $ 4,864 $ 4,375 Management fees - related party $ - $ - $ - $ - $ 2,021 G&A expenses $ 4,285 $ 4,383 $ 4,426 $ 4,027 $ 1,643 Depreciation and amortization expenses $ 11,427 $ 10,853 $ 10,138 $ 9,517 $ 8,941 Operating expenses $ 3,303 $ 3,687 $ 2,612 $ 3,619 $ 2,336 Management internalization expense $ - $ - $ - $ 12,580 $ 920 Total expenses $ 24,097 $ 24,026 $ 22,338 $ 34,677 $ 20,383 Net income (loss) attributable to common stockholders $ 2,553 $ 1,756 $ 1,063 $ (10,268) $ 204 Net income (loss) per share $ 0.04 $ 0.03 $ 0.02 $ (0.22) $ - Wtd. avg. basic and diluted common shares (GAAP) 61,194 52,671 48,496 46,908 45,404 FFO* $ 14,108 $ 12,694 $ 11,249 $ (1,518) $ 9,158 FFO per share and unit* $ 0.22 $ 0.23 $ 0.22 $ (0.03) $ 0.19 AFFO* $ 14,998 $ 13,556 $ 12,383 $ 11,649 $ 10,339 AFFO per share and unit* $ 0.23 $ 0.24 $ 0.24 $ 0.23 $ 0.21 Wtd. avg. common shares, OP and LTIP units 65,113 56,317 52,076 50,233 48,515

 

 

Business Summary 4 2Q - 2021| Earnings Supplemental SECOND QUARTER OPERATING SUMMARY • Net income attributable to common stockholders was $2.6 million, or $0.04 per diluted share, as compared to $0.2 million, or $0. 00 per diluted share, in the comparable prior year period. • Funds from Operations (“FFO”) of $0.22 per share and unit, as compared to $0.19 per share and unit in the comparable prior ye ar period. • Adjusted Funds from Operations (“AFFO”) of $0.23 per share and unit, as compared to $0.21 per share and unit in the comparabl e p rior year period. • Increased total revenue 28.1% year - over - year to $28.3 million, primarily driven by the Company’s acquisition activity. COMMON AND PREFERRED DIVIDENDS • On June 10, 2021, the Board of Directors (the “Board”) declared a: • $0.205 per share cash dividend to common stockholders of record as of June 24, 2021, which was paid on July 8, 2021. • $0.46875 per share cash dividend to holders of record as of July 15, 2021 of its Series A Preferred Stock, which was paid on Aug ust 2, 2021. ACQUISITION ACTIVITY • During the second quarter, completed seven acquisitions, encompassing an aggregate 234,173 leasable square feet, for an aggre gat e purchase price of $71.0 million at a weighted average cap rate of 7.2%. • Since July 1, 2021, completed two acquisitions, encompassing an aggregate 77,693 leasable square feet, for an aggregate purch ase price of $26.2 million at a weighted average cap rate of 7.4%. • Year - to - date, completed 13 acquisitions, encompassing an aggregate 432,122 leasable square feet for an aggregate purchase price of $140.0 million and a weighted average cap rate of 7.4%. CAPITAL MARKETS AND DEBT ACTIVITY • In the second quarter raised $51.2 million in gross proceeds from ATM equity issuances and year to date raised $201.3 million in gross proceeds from equity issuances. These issuances include: • an underwritten offering of 8.6 million shares at an offering price of $13.30 per share that generated gross proceeds of $114 .7 million that closed on March 18, 2021, and • 6.1 million shares issued through our ATM that generated gross proceeds of $86.6 million. Our first quarter ATM issuances tot ale d 2.7 million shares at a weighted average offering price of $13.07 per share, for gross proceeds of $35.4 million, and our second quarter ATM issuances totaled 3. 4 million shares at a weighted average offering price of $15.27 per share, for gross proceeds of $51.2 million. • During the second quarter, amended and restated its credit facility to: • Increase overall borrowing capacity by $150 million to $750 million. The facility is now comprised of a $350 million term lo an, a $400 million revolver, and a $500 million accordion feature. • Convert from a secured facility to an unsecured facility, reducing administrative burden and costs. • Extend the initial maturity date of the revolver component of the facility to four years (with two, six - month extension options) and the maturity date of the term loan component to five years. • Reduce borrowing costs across the pricing grid and added a new step below 40%, as shown in the table below:

 

 

Business Summary 5 2Q - 2021| Earnings Supplemental CORPORATE SUSTAINABILITY AND SOCIAL RESPONSIBILITY • Our business values integrate environmental sustainability, social responsibility and strong governance practices throughout our organization. • We continue to improve and expand our efforts in the corporate sustainability arena by building on our progress with tenant o utr each and data collection to benchmark our portfolio’s energy consumption and efficiency. On July 1, 2021, we submitted our second GRESB assessment. We are working with th ird - party experts to support our energy monitoring efforts and have begun to explore potential projects with solar energy providers and on - property electric vehi cle charging solutions. • Our commitment to employee engagement remains a high - priority, as we continue to make accommodations for health, safety, and wor k - life balance and look for opportunities to modestly grow our team. • During the first quarter of 2021, our employee ESG working group engaged Georgetown University’s Steers Center for Global Rea l E state to help us identify social responsibility initiatives. Their recommendation led to a pilot project that provides transportation to healthcare facilities fo r those in need. We are working with a ride - share provider and national charitable organization to implement the project. • Our Board continues to lead our social and governance efforts. With its diverse composition, our Board is a strong example of in clusive leadership. From a governance perspective, the Board has continued to adopt policies with best practices in mind and has joined the National Association of Co rporate Directors, a membership association chartered to increase board strategic awareness and enhance continuous improvement and effectiveness. In 2021, th e B oard continued to improve our corporate governance structure by adopting an anti - hedging and anti - pledging policy and executive equity ownership guidelines. T he Board has also formed an ESG working group and has worked with management to identify an environmental, social, governance and resilience framework that c an guide our ESG work going forward. CLIMATE CHANGE • We take climate change and the risks associated with climate change seriously. We are committed to aligning our investment st rat egy with science and have begun to monitor our portfolio for climate risk factors. • We will use this climate risk factor data to evaluate our insurance needs and risk management approach. In addition, the ener gy consumption data that we are collecting will be used to assess facilities’ carbon emission levels. Capturing and tracking this information will help inform future mi tig ation and remediation efforts where possible. • We are exploring ways to mitigate climate risk, should it be present, in our acquisition strategy, as well as ways to contrib ute to the reduction of climate impact through proactive asset management that looks for ways to incorporate renewable energy resources and energy utilization reduction. • We stand with our communities, tenants, and stockholders in supporting meaningful solutions that address this global challeng e a nd contribute to the sustainability of our business objectives.

 

 

Condensed Consolidated Statements of Operations 6 2Q - 2021| Earnings Supplemental (unaudited, and in thousands, except per share amounts) Three Months Ended June 30, March 31, December 31, September 30, June 30, 2021 2021 2020 2020 2020 Revenue Rental revenue $ 28,200 $ 27,325 $ 24,895 $ 25,055 $ 22,036 Other income 61 24 35 42 19 Total revenue 28,261 27,349 24,930 25,097 22,055 Expenses General and administrative 4,285 4,383 4,426 4,027 1,643 Operating expenses 3,303 3,687 2,612 3,619 2,336 Management fees – related party - - - - 2,021 Depreciation expense 8,292 7,848 7,364 6,954 6,593 Amortization expense 3,135 3,005 2,774 2,563 2,348 Interest expense 5,020 5,037 5,064 4,864 4,375 Management internalization expense - - - 12,580 920 Preacquisition expense 62 66 98 70 147 Total expenses 24,097 24,026 22,338 34,677 20,383 Net income (loss) $ 4,164 $ 3,323 $ 2,592 $ (9,580) $ 1,672 Less: Preferred stock dividends (1,455) (1,455) (1,455) (1,455) (1,455) Less: Net (income) loss attributable to noncontrolling interest (156) (112) (74) 767 (13) Net income (loss) attributable to common stockholders $ 2,553 $ 1,756 $ 1,063 $ (10,268) $ 204 Net income (loss) attributable to common stockholders per share - basic and diluted $ 0.04 $ 0.03 $ 0.02 $ (0.22) $ 0.00 Weighted average shares outstanding – basic and diluted 61,194 52,671 48,496 46,908 45,404

 

 

Condensed Consolidated Balance Sheets 7 2Q - 2021| Earnings Supplemental (unaudited, and in thousands, except par values) As of June 30, March 31, December 31, September 30, June 30, 2021 2021 2020 2020 2020 Assets Investment in real estate: Land $ 145,424 $ 133,040 $ 128,857 $ 116,123 $ 104,316 Building 931,510 883,901 851,427 793,559 755,807 Site improvements 17,011 15,669 15,183 13,268 11,593 Tenant improvements 53,730 50,596 49,204 46,965 41,891 Acquired lease intangible assets 112,649 103,269 98,234 91,465 83,269 1,260,324 1,186,475 1,142,905 1,061,380 996,876 Less: accumulated depreciation and amortization (117,720) (105,779) (94,462) (83,893) (73,979) Investment in real estate, net 1,142,604 1,080,696 1,048,443 977,487 922,897 Cash and cash equivalents 5,821 5,304 5,507 2,052 8,392 Restricted cash 6,549 6,096 5,246 5,210 4,945 Tenant receivables, net 4,886 5,585 5,596 6,702 5,888 Due from related parties 265 229 103 121 124 Escrow deposits 5,531 5,163 4,817 3,792 3,301 Deferred assets 23,050 21,676 20,272 18,928 17,433 Derivative asset 137 136 - - - Goodwill 5,903 5,903 5,903 5,903 - Other assets 5,219 5,530 5,019 5,356 3,587 Total assets $ 1,199,965 $ 1,136,318 $ 1,100,906 $ 1,025,551 $ 966,567 Liabilities and Equity Liabilities: Credit Facility, net $ 442,140 $ 420,216 $ 521,641 $ 454,325 $ 415,850 Notes payable, net 64,620 64,810 64,937 65,060 50,610 Accounts payable and accrued expenses 8,080 7,230 7,279 8,329 8,836 Dividends payable 15,251 14,482 12,470 11,843 11,281 Security deposits 4,385 4,367 4,340 5,571 5,814 Due to related party - - - - 1,957 Derivative liability 13,814 14,603 18,086 19,505 21,495 Other liabilities 5,983 6,793 6,171 3,090 2,417 Acquired lease intangible liability, net 8,437 7,998 8,222 8,621 5,598 Total liabilities 562,710 540,499 643,146 576,344 523,858 Equity: Preferred stock ($77,625 liquidation preference) 74,959 74,959 74,959 74,959 74,959 Common stock 64 61 49 48 46 Additional paid - in capital 700,038 648,949 504,789 487,114 462,607 Accumulated deficit (138,088) (127,480) (116,773) (107,943) (88,037) Accumulated other comprehensive loss (13,784) (14,588) (18,219) (19,651) (21,654) Total Global Medical REIT Inc. stockholders' equity 623,189 581,901 444,805 434,527 427,921 Noncontrolling interest 14,066 13,918 12,955 14,680 14,788 Total equity 637,255 595,819 457,760 449,207 442,709 Total liabilities and equity $ 1,199,965 $ 1,136,318 $ 1,100,906 $ 1,025,551 $ 966,567

 

 

Condensed Consolidated Statements of Cash Flows 8 (unaudited, and in thousands) Six Months Ended June 30, 2021 2020 Operating activities Net income $ 7,487 $ 4,489 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense 16,140 12,429 Amortization of acquired lease intangible assets 6,097 4,269 Amortization of above market leases, net 145 403 Amortization of debt issuance costs and other 930 634 Stock - based compensation expense 3,327 1,819 Capitalized preacquisition costs charged to expense 84 135 Reserve for uncollectible receivables (100) 627 Other 22 46 Changes in operating assets and liabilities: Tenant receivables 810 (1,558) Deferred assets (2,778) (2,921) Other assets and liabilities 5 117 Accounts payable and accrued expenses 862 3,620 Security deposits 45 (536) Accrued management fees due to related party — 295 Net cash provided by operating activities 33,076 23,868 Investing activities Purchase of land, buildings, and other tangible and intangible assets and liabilities (115,545) (76,057) Escrow deposits for purchase of properties 1,020 500 Loans to related parties (162) (61) Capital expenditures on existing real estate investments (1,284) (341) Net cash used in investing activities (115,971) (75,959) Financing activities Net proceeds received from common equity offerings 194,455 13,605 Escrow deposits required by third party lenders (1,734) (385) Repayment of notes payable (446) (113) Proceeds from Credit Facility 133,100 88,700 Repayment of Credit Facility (207,200) (20,850) Payment of debt issuance costs (6,177) (128) Dividends paid to common stockholders, and OP Unit and LTIP Unit holders (24,575) (19,675) Dividends paid to preferred stockholders (2,911) (2,911) Net cash provided by financing activities 84,512 58,243 Net increase in cash and cash equivalents and restricted cash 1,617 6,152 Cash and cash equivalents and restricted cash — beginning of period 10,753 7,185 Cash and cash equivalents and restricted cash — end of period $ 12,370 $ 13,337 2Q - 2021| Earnings Supplemental.

 

 

Reconciliation of Funds from Operations (FFO) & Adjusted Funds from Operations (AFFO) Non - GAAP Financial Measures FFO and AFFO are non - GAAP financial measures within the meaning of the rules of the SEC . The Company considers FFO and AFFO to be important supplemental measures of its operating performance and believes FFO is frequently used by securities analysts, investors, and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results . In accordance with the National Association of Real Estate Investment Trusts’ (“NAREIT”) definition, FFO means net income or loss computed in accordance with GAAP before noncontrolling interests of holders of OP units and LTIP units, excluding gains (or losses) from sales of property and extraordinary items, less preferred stock dividends, plus real estate - related depreciation and amortization (excluding amortization of debt issuance costs and above and below market lease amortization expense), and after adjustments for unconsolidated partnerships and joint ventures . Because FFO excludes real estate - related depreciation and amortization (other than amortization of debt issuance costs and above and below market lease amortization expense), the Company believes that FFO provides a performance measure that, when compared period - over - period, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, development activities and interest costs, providing perspective not immediately apparent from the closest GAAP measurement, net income or loss . AFFO is a non - GAAP measure used by many investors and analysts to measure a real estate company’s operating performance by removing the effect of items that do not reflect ongoing property operations . Management calculates AFFO by modifying the NAREIT computation of FFO by adjusting it for certain cash and non - cash items and certain recurring and non - recurring items . For the Company these items include : (a) recurring acquisition and disposition costs, (b) loss on the extinguishment of debt, (c) recurring straight line deferred rental revenue, (d) recurring stock - based compensation expense, (e) recurring amortization of above and below market leases, (f) recurring amortization of debt issuance costs, (g) recurring lease commissions, (h) management internalization costs (including a one - time expense related to the settlement of a preexisting contractual relationship) and (i) other items . Management believes that reporting AFFO in addition to FFO is a useful supplemental measure for the investment community to use when evaluating the operating performance of the Company on a comparative basis . The Company’s FFO and AFFO computations may not be comparable to FFO and AFFO reported by other REITs that do not compute FFO in accordance with the NAREIT definition, that interpret the NAREIT definition differently than the Company does, or that compute FFO and AFFO in a different manner . 9 2Q - 2021| Earnings Supplemental (unaudited, and in thousands, except per share and unit amounts) Three Months Ended June 30, March 31, December 31, September 30, June 30, 2021 2021 2020 2020 2020 Net income (loss) $ 4,164 $ 3,323 $ 2,592 $ (9,580) $ 1,672 Preferred stock dividends (1,455) (1,455) (1,455) (1,455) (1,455) Depreciation and amortization expense 11,399 10,826 10,112 9,517 8,941 FFO $ 14,108 $ 12,694 $ 11,249 $ (1,518) $ 9,158 Internalization expense – settlement of a preexisting contractual relationship - - - 12,094 - Internalization expense - other transaction costs - - - 486 920 Amortization of above market leases, net 85 60 32 69 157 Straight line deferred rental revenue (1,374) (1,404) (1,344) (1,520) (1,259) Stock - based compensation expense 1,612 1,715 1,928 1,572 897 Amortization of debt issuance costs and other 505 425 420 396 319 Preacquisition expense 62 66 98 70 147 AFFO $ 14,998 $ 13,556 $ 12,383 $ 11,649 $ 10,339 Net income (loss) attributed to common stockholders basic and diluted $ 0.04 $ 0.03 $ 0.02 $ (0.22) $ 0.00 FFO per share and unit $ 0.22 $ 0.23 $ 0.22 $ (0.03) $ 0.19 AFFO per share and unit $ 0.23 $ 0.24 $ 0.24 $ 0.23 $ 0.21 Weighted Average Common Shares, OP and LTIP Units: Common shares 61,194 52,671 48,496 46,908 45,404 OP units 1,753 1,764 1,941 1,958 2,023 LTIP units 2,166 1,882 1,639 1,367 1,088 Total Weighted Average Shares and Units 65,113 56,317 52,076 50,233 48,515

 

 

Capitalization and Dividend Summary 10 2Q - 2021| Earnings Supplemental (unaudited, and in thousands, except per share data) (1) Redeemable by the Company on or after September 15, 2022 at redemption price ($25 per share) plus accrued and unpaid dividends. (2) Based on the closing price of the Company’s common stock on June 30, 2021. $- $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000 Debt Preferred Equity Common Equity and OP Units $350,000 $101,100 Revolver $65 ,326 Term Credit Facility Other Capitalization Summary Debt As of June 30, 2021 Credit Facility, gross $ 451,100 Notes Payable, gross 65,326 Total Debt $ 516,426 Preferred Equity Series A Cumulative Redeemable Preferred Stock (1) $ 74,959 Common Equity/OP Units Common Stock (64,197 shares) (2) $ 947,548 OP Units (1,713 units) (2) 25,284 Total Common Equity/OP Units 972,832 Total Capitalization $ 1,564,217 Capitalization Statistics Debt Statistics: As of June 30, 2021 Weighted Average Interest Rate 3.09% Weighted Average Maturity 4.71 years Leverage Ratio 40.8% Fixed Charge Coverage Ratio 3.01x Preferred Stock Statistics: As of June 30, 2021 Shares Outstanding 3,105 Liquidation Preference Per Share $25.00 Dividend Rate 7.50% Common Stock Statistics: As of June 30, 2021 Shares Outstanding 64,197 Stock Price $14.76 Annual Dividend Yield 5.49% Target AFFO Payout Ratio 80% - 85% Dividend Summary Common Dividends Record Date Payment Date Dividend (per share) 9/24/2020 10/8/2020 0.200 12/28/2020 1/11/2021 0.200 3/24/2021 4/8/2021 0.205 6/24/2021 7/8/2021 0.205 Total $ 0.810 Preferred Dividends Record Date Payment Date Dividend (per share) 10/15/2020 10/31/2020 0.46875 1/15/2021 2/1/2021 0.46875 4/15/2021 4/30/2021 0.46875 7/15/2021 8/2/2021 0.46875 Total $ 1.87500

 

 

Acquisitions 11 2021 Completed Acquisitions Acquisitions Under Contract As of August 3 , 2021 , the Company had three properties under contract for a total purchase price of approximately $ 23 . 2 million . The properties are currently in the due diligence review period . If the Company identifies problems with the properties or the operators during our review, it may not close on the transactions on a timely basis, or it may terminate the transactions . Purchase Annualized Leasable Price (1) Base Rent (2) Capitalization Date Property City, State Square Feet (in thousands) (in thousands) Rate (3) 1/12/2021 El Paso Cardiology El Paso, TX 27,750 $ 9,850 $ 757 7.7% 1/15/2021 DaVita & VA Syracuse, NY 35,809 6,091 507 8.3% 1/15/2021 West El Paso ASC El Paso, TX 22,700 9,500 688 7.2% 3/9/2021 Kindred Health Behavioral Fort Worth, TX 33,997 17,400 1,332 7.7% First Quarter Total/Weighted Average 120,256 $ 42,841 $ 3,284 7.7% 4/6/2021 St. Lucie Surgery Center Port St. Lucie, FL 14,000 $ 4,725 $ 353 7.5% 4/13/2021 Physicians Primary Care Cape Coral, FL 81,581 31,200 2,190 7.0% 4/16/2021 DaVita & Amsurg ASC Dallas, TX 20,296 6,250 435 7.0% 4/19/2021 Sanford / Altru East Grand Forks, MN 61,995 9,600 706 7.4% 4/21/2021 Fresenius Kidney Care Coos Bay, OR 10,144 6,400 481 7.5% 6/2/2021 Mercy Health Caledonia, MI 14,157 3,825 303 7.9% 6/2/2021 Tallahassee Primary Care Associates, PA Tallahassee, FL 32,000 9,000 644 7.2% Second Quarter Total/Weighted Average 234,173 $ 71,000 $ 5,112 7.2% 7/28/2021 Forsyth Professional Building Forsyth, IL 51,437 $ 19,150 $ 1,430 7.5% 7/29/2021 Charleston Oncology North Charleston, SC 26,256 7,000 512 7.3% Third Quarter Total/Weighted Average To - Date 77,693 $ 26,150 $ 1,942 7.4% 2021 Total/Weighted Average To - Date 432,122 $ 139,991 $ 10,338 7.4% (1) Represents contractual purchase price. (2) June 30, 2021 base rent or month of acquisition base rent multiplied by 12 (or actual NOI for where more reflective of property performance ). (3) Capitalization rates are calculated based on current lease terms and do not give effect to future rent escalations. 2Q - 2021| Earnings Supplemental

 

 

Portfolio Update 12 Gross Investment in Real Estate (in billions) $1.3 Total Buildings 157 Total Leasable Square Feet 4,050,990 Total Tenants 126 Leased Occupancy 99.1% Total Annualized Base Rent (in thousands) $96,839 National and Regional Healthcare Tenants (1) ABR 93.9% Portfolio Rent Coverage* 4.4x Weighted Average Cap Rate 7.8% Weighted Average Lease Term (years) 7.5 Weighted Average Rent Escalations 2.1% (as of June 30, 2021 unless otherwise stated) 2Q - 2021| Earnings Supplemental (1) National and Regional Healthcare Tenants include health systems, national operators, and regional physician groups. * see pa ge 20 for footnotes. $94.1 $206.9 $471.5 $647.6 $905.5 $1,142.9 $1,260.3 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 IPO 2016 2017 2018 2019 2020 1H - 2021 Gross Portfolio Growth Since IPO - (In Millions) Gross Real Estate Assets Gross Real Estate Investments During Period

 

 

Portfolio Update (continued) 13 2Q - 2021| Earnings Supplemental (1) Monthly base rent as of June 30, 2021 multiplied by 12 (2) Other includes Office (2.7%), Acute Hospital (2.5%), LTACH (2.4%), Behavioral Hospital (1.4%), and FSED (1.0%) MOB Total - 64.0% IRF - 19.2% S.H. - 6.8% Other - 10.0% MOB Total 64.0% MOB 41.2% MOB/ASC 18.4% MOB/Imaging/ER 4.4% IRF 19.2% Surgical Hospital 6.8% Other (2) 10.0% Texas 20.2% Florida 10.3% Ohio 7.6% Arizona 6.9% Pennsylvania 6.3% Oklahoma 5.9% Michigan 4.7% Illinois 4.5% Tennessee 3.2% Virginia 3.1% Other 27.3% TX - 20.2% FL - 10.3% OH - 7.6% AZ - 6.9% PA - 6.3% OK - 5.9% MI - 4.7% IL - 4.5% TN - 3.2% VA - 3.1% Other - 27.3% Top 10 States % of Annualized Base Rent (1) Asset Types % of Annualized Base Rent (1) (as of June 30, 2021)

 

 

Tenant Metrics Year Number of Leases Leasable Square Feet % of Total Leasable SF ABR % of Total ABR 2021 6 20,913 0.5% $ 355 0.4% 2022 17 78,819 1.9% 1,533 1.6% 2023 16 243,432 6.0% 5,784 6.0% 2024 41 699,662 17.3% 15,255 15.8% 2025 13 254,128 6.3% 6,952 7.2% 2026 33 516,114 12.7% 9,963 10.3% 2027 19 354,643 8.8% 9,571 9.9% 2028 8 114,144 2.8% 2,912 3.0% 2029 17 316,339 7.8% 9,292 9.6% 2030 15 316,104 7.8% 7,393 7.6% Thereafter 40 1,101,208 27.2% 27,830 28.7% Total Leased 225 4,015,506 99.1% $ 96,839 100.0% Current Vacancy 35,484 0.9% Total Leasable 4,050,990 100.0% 14 2Q - 2021| Earnings Supplemental (as of June 30, 2021 unless otherwise stated) *See page 20 for footnotes Tenant Credit Strength By Asset Type Category % of ABR Rent Coverage Ratio* Medical Office Building (MOB) 15.4% 5.7x MOB/Ambulatory Surgery Center (ASC) 16.9% 4.8x TOTAL/WEIGHTED AVERAGE 32.3% 5.2x Inpatient Rehab Facility (IRF) 17.7% 3.6x Surgical Hospital (SH) 6.8% 3.0x Long - Term Acute Care Hospital (LTAC) 2.4% 3.2x TOTAL/WEIGHTED AVERAGE 26.9% 3.4x All Tenants Calculated for Rent Coverage 59.2% 4.4x Large/Credit Tenants Not Calculated 29.7% N/A Other Tenants Not Available 11.1% N/A Top 10 Tenants % of Annualized Base Rent (1) 7.3% 6.8% 5.7% 3.8% 3.4% 3.1% 2.8% 2.7% 2.6% 2.5% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% Lease Expiration ($ in thousands) Rent Coverage 93.9% 6.1% National & Regional Healthcare Tenants (2) 93.9% Unaffiliated 6.1% Tenant Affiliations % of Annualized Base Rent (1) (1) Monthly base rent as of June 30, 2021 multiplied by 12 (2) National and Regional Healthcare Tenants include health systems, national operators, and regional physician groups

 

 

Top 10 Tenant Profiles 15 2Q - 2021| Earnings Supplemental Encompass Health (Ba 3 ) (NYSE : EHC), headquartered in Birmingham, AL is a national leader in integrated healthcare services offering both facility - based and home - based patient care through its network of inpatient rehabilitation hospitals, home health agencies and hospice agencies . With a national footprint that spans 136 hospitals and 328 home health & hospice locations in 39 states and Puerto Rico, Encompass Health is committed to delivering high - quality, cost - effective care across the healthcare continuum . Encompass Health is ranked as one of Fortune's 100 Best Companies to Work For, as well as Modern Healthcare's Best Places to Work . Kindred Healthcare, LLC is the nation’s leading specialty hospital company delivering acute health services in its long - term acute care hospitals, inpatient rehabilitation hospitals, acute rehabilitation units, and behavioral health line of business, all specializing in treating the most medically complex patients . With annual revenues of approximately $ 3 . 1 billion, Kindred is owned by private equity firms TPG Capital and Welsh, Carson, Anderson and Stowe . On June 21 , 2021 , LifePoint Health and Kindred Healthcare entered into a definitive agreement for LifePoint to acquire Kindred Healthcare . LifePoint , operates 88 hospitals in 29 states, with revenues of approximately $ 8 . 2 billion annually and is owned by Apollo Management, The combination of LifePoint Health and Kindred Healthcare will create a leading diversified healthcare delivery network with expanded services, resources, and expertise . Marietta Memorial Health System (MMH), (BB - ) is headquartered in Marietta, OH, and is the largest health system in the Parkersburg - Marietta - Vienna MSA . The largest employer in Washington County, MMH comprises (i) two hospitals, Marietta Memorial Hospital ( 205 - bed) and Selby General Hospital ( 35 - bed) critical access hospital ; (ii) the Belpre Campus ; (iii) ten clinic outpatient service sites ; and (iv) five imaging locations and has over 2 , 500 employees and 211 accredited physicians . In August 2020 , a critical access hospital, Sistersville General Hospital, joined Memorial Health System . Oklahoma Center for Orthopedic & Multi - Specialty Surgery, LLC (OCOM) is based Oklahoma City, OK and affiliated with USPI and INTEGRIS, and is a leading hospital for orthopedic specialists . OCOM operates a surgical hospital with six operating rooms, nine treatment rooms and a physical therapy department, an ancillary surgery center, and multiple imaging centers in throughout Oklahoma City . Trinity Health is one of the largest multi - institutional Catholic health care delivery systems in the nation, rated Aa 3 by Moody’s, serving diverse communities that include more than 30 million people across 22 states . Trinity Health includes 92 hospitals, as well as 106 continuing care locations that include PACE programs, senior living facilities, and home care and hospice services . Based in Livonia, Michigan, Trinity Health employs about 125 , 000 colleagues, including 7 , 500 employed physicians and clinicians . TeamHealth Holdings is one of the largest providers of physician outsourcing in the United States, with a network of affiliated physicians and advanced practice clinicians across more than 3 , 100 civilian and military hospitals, clinics and physician groups in 47 states . Blackstone acquired TeamHealth for $ 6 . 1 billion in 2017 . Spectrum Healthcare Resources is a division of TeamHealth dedicated to providing permanent, civilian - contracted medical professionals exclusively to U . S . military treatment facilities (MTFs), VA clinics and other Federal agencies through program development and healthcare services delivery . Carrus Hospital is located in Sherman, TX and provides acute rehabilitative care and long term acute care . Accredited with The Joint Commission’s Gold Seal of Approval, Carrus Hospital serves Sherman, Durant, Denison, Gainesville, Denton, McKinney, Plano, Bonham, Lewisville, Carrollton, Fort Worth, Dallas, Oklahoma City and beyond . Steward Health Care is the largest physician - owned, private, for - profit health care network in the U . S . – attending to 2 . 2 million people during more than 12 million physician and hospital visits annually . Headquartered in Dallas, Steward's integrated health care model employs 42 , 000 people at 35 hospitals and hundreds of urgent care, skilled nursing, and primary and specialty care medical practice locations across 11 states and the country of Malta, serving over 800 communities . On June 16 , 2021 , Steward signed a definitive agreement to acquire five hospitals and related hospital operations in Southern Florida from Tenet Healthcare, which will bring Steward’s total hospital count to 44 worldwide and more than double its presence in Florida . Wake Forest Baptist Health (A 2 ) is a regional health system that includes five community hospitals and 300 + primary and specialty clinics serving residents of 24 counties in North Carolina and Virginia . In early October 2020 , Wake Forest Baptist Health, including Wake Forest School of Medicine, officially completed its combination with the Charlotte - based Atrium Health (Aa 3 ) . The new Atrium Health enterprise, an academic health system, services more than 7 million people at 42 hospitals and more than 1 , 500 care locations across the region with over 70 , 000 teammates and educates over 3 , 500 students in more than 100 specialized programs . The immediate direct and indirect annual economic and employment impact from the combined enterprise exceeds $ 32 billion and 180 , 000 jobs . Pipeline Health is a privately-held, community-based hospital ownership and management company based in Los Angeles . The principals of Pipeline Health have more than 250 years of collective experience in clinical medicine, finance, hospital operations and acquisitions . Pipeline’s growing business, through its affiliates, includes : Emergent Medical Associates, a leading provider of ER serving 20 + hospital sites and 900 , 000 patients annually ; Integrated Anesthesia Medical Group, with 100 providers performing 15 , 000 procedures annually ; Avanti Hospitals, a Los Angeles health system with four hospitals, 400 + beds and 55 , 000 ER visits annually ; Cloudbreak, a telemedicine company with 75 , 000 monthly encounters in 700 hospitals ; Pacific Healthworks, a physician practice management company ; and Benchmark Hospitalists ; four community hospitals in Chicago and Dallas .

 

 

Real Estate Portfolio 16 Property Location # of Bldgs Facility Type Net Leasable Square Feet Lease Years Remaining Annualized Rent (1) ($ in 000’s) Annualized Rent Per Square Foot (1) Tenant/Guarantor (2) Select Medical Hospital Omaha, NE 1 LTACH 41,113 2.1 $1,926 $46.85 Select Specialty Hospital – Omaha, Inc./Select Medical Corporation Orthopedic Surgery Center of Asheville Asheville, NC 1 ASC 8,840 0.7 $267 $30.25 Orthopedic Surgery Center of Ashville/Surgery Partners Associates in Ophthalmology West Mifflin, PA 1 MOB/ASC 27,193 9.2 $832 $30.58 Associates Surgery Centers, LLC, Associates in Ophthalmology, Ltd. Gastro One Memphis, TN 6 MOB/ASC 52,266 6.5 $1,393 $26.66 Gastroenterology Center of the MidSouth Legent Hospital for Special Surgery Plano, TX 1 Surgical Hospital 24,000 14.6 $1,411 $58.78 Star Medical Center/Lumin Health Surgical Institute of Michigan Detroit, MI 1 MOB/ASC 15,018 4.7 $430 $28.63 Surgical Institute of Michigan/Surgical Management Professionals Marina Towers Melbourne, FL 1 MOB/Img 75,899 4.7 $0 $0.00 Marina Towers, LLC/First Choice Healthcare Solutions, Inc. Berks Physicians & Surgeons Wyomissing, PA 1 MOB 17,000 5.1 $477 $28.05 Berks Eye Physicians & Surgeons Berks Eye Surgery Center Wyomissing, PA 1 ASC 6,500 5.1 $255 $39.26 Berkshire Eye East Orange General Hospital East Orange, NJ 1 MOB 60,442 5.4 $1,131 $18.71 Prospect Medical Holdings, Inc. Brown Clinic Watertown, SD 3 MOB/Img 48,132 10.2 $765 $15.90 Brown Clinic Northern Ohio Medical Specialists Sandusky, OH 8 MOB 55,760 6.3 $930 $16.68 Northern Ohio Medical Specialists Carson Medical Group Clinic Carson City, NV 2 MOB 20,632 2.3 $387 $18.77 Carson Medical Group Piedmont Healthcare Ellijay, GA 3 MOB 44,162 5.0 $398 $9.01 Piedmont Mountainside Hospital, Inc. Encompass Altoona Altoona, PA 1 IRF 70,007 9.9 $1,675 $23.93 Encompass Encompass Mechanicsburg Mechanicsburg, PA 1 IRF 78,836 9.9 $1,881 $23.86 Encompass Encompass Mesa Mesa, AZ 1 IRF 51,903 3.3 $1,925 $37.09 Encompass Geisinger Specialty Care Lewisburg, PA 1 MOB/Img 28,480 1.8 $566 $19.87 Geisinger Health Southwest Florida Neurological & Rehab Cape Coral, FL 1 MOB 25,814 5.6 $573 $22.19 Southwest Florida Neurosurgical Associates Las Cruces MOB Las Cruces, NM 1 MOB 15,761 0.0 $0 $0.00 Vacant Thumb Butte Medical Center Prescott, AZ 1 MOB 12,000 5.7 $405 $33.77 Thumb Butte Medical Center/Physician Guaranty Southlake Heart & Vascular Institute Clermont, FL 1 MOB 18,152 1.4 $390 $21.51 Orlando Health, Southlake Hospital, Vascular Specialists of Central Florida Oklahoma Center for Orthopedic & Multi - Specialty Surgery Oklahoma City, OK 3 Surgical Hospital/ Physical Therapy/ASC 97,406 11.8 $3,717 $38.16 OCOM/INTEGRIS; USPI; physician guaranty Unity Family Medicine Brockport, NY 1 MOB 29,497 9.4 $670 $22.72 Unity Hospital of Rochester Lonestar Endoscopy Flower Mound, TX 1 ASC 10,062 5.3 $312 $31.02 Lonestar Endoscopy Center, LLC Carrus Specialty Hospital Sherman, TX 1 IRF/LTACH 69,352 16.0 $2,752 $39.68 SDB Partners, LLC 2Q - 2021| Earnings Supplemental (as of June 30, 2021, see page 20 for footnotes)

 

 

Real Estate Portfolio 17 Property Location # of Bldgs Facility Type Net Leasable Square Feet Lease Years Remaining Annualized Rent (1) ($ in 000’s) Annualized Rent Per Square Foot (1) Tenant/Guarantor (2) Cardiologists of Lubbock Lubbock, TX 1 MOB 27,280 8.2 $637 $23.35 Lubbock Heart Hospital/Surgery Partners, Inc. Conrad Pearson Clinic Germantown, TN 1 MOB/ASC 33,777 2.9 $1,579 $46.76 Urology Center of the South/Physician guarantees Central Texas Rehabilitation Clinic Austin, TX 1 IRF 59,258 5.8 $3,247 $54.79 CTRH, LLC / Kindred Health GI Alliance Fort Worth, TX 1 MOB 18,084 7.0 $464 $25.69 Texas Digestive Disease Consultants Albertville Medical Building Albertville, MN 1 MOB 21,486 7.5 $507 $23.58 Stellis Health Heartland Clinic Moline, IL 1 MOB/ASC 34,020 12.0 $948 $27.86 Heartland Clinic Kansas City Cardiology Lee’s Summit, MO 1 MOB 12,180 3.5 $292 $23.96 Kansas City Cardiology Amarillo Bone & Joint Clinic Amarillo, TX 1 MOB 23,298 8.5 $630 $27.06 Amarillo Bone & Joint Clinic Respiratory Specialists Wyomissing, PA 1 MOB 17,598 6.5 $430 $24.41 Berks Respiratory Comprehensive Eyecare Partners St. George, UT 1 MOB/ASC 16,000 8.5 $424 $26.53 Zion Eye Institute Fresenius Kidney Care Moline, IL 2 MOB 27,173 9.8 $592 $21.78 Quad City Nephrology/Fresenius Medical Care Holdings Northern Ohio Medical Specialists Fremont, OH 1 MOB 25,893 8.6 $655 $25.31 Northern Ohio Medical Specialists Gainesville Eye Gainesville, GA 1 MOB/ASC 34,020 8.6 $824 $24.22 SCP Eyecare Services City Hospital at White Rock Dallas, TX 1 Acute Hospital 236,314 16.7 $2,412 $10.20 Pipeline East Dallas Orlando Health Orlando, FL 5 MOB 59,644 2.7 $1,314 $22.03 Orlando Health Memorial Health System Belpre, OH 4 MOB/Img/ER/ASC 155,600 9.7 $5,482 $35.23 Marietta Memorial Valley ENT McAllen, TX 1 MOB 30,811 8.2 $457 $14.83 Valley ENT Rock Surgery Center Derby, KS 1 ASC 16,704 5.9 $0 $0.00 Rock Surgery Center/Rock Medical Assets Foot and Ankle Specialists Bountiful, UT 1 MOB 22,335 12.3 $395 $17.69 Foot and Ankle Specialists of Utah / physician guaranty TriHealth Cincinnati, OH 1 MOB 18,820 3.8 $334 $17.76 TriHealth Cancer Center of Brevard Melbourne, FL 1 Cancer Center 19,074 9.5 $563 $29.50 Brevard Radiation Oncology / Vantage Oncology Heartland Women's Healthcare Southern IL 6 MOB 64,966 8.2 $1,231 $18.95 Heartland Women's Healthcare / USA OBGYN Management Prospect Medical Vernon, CT 2 MOB/Dialysis/Office 58,550 10.2 $809 $13.82 Prospect ECHN / Prospect Medical Holdings, Inc. Citrus Valley Medical Associates Corona, CA 1 MOB 41,803 9.5 $1,253 $29.96 Citrus Valley Medical Associates AMG Specialty Hospital Zachary, LA 1 LTACH 12,424 15.0 $421 $33.91 AMG Specialty Hospital East Valley Gastroenterology & Hepatology Associates Chandler, AZ 3 MOB/ASC 39,305 8.5 $1,283 $32.64 East Valley Gastroenterology & Hepatology Associates/ USPI Encompass Health Rehabilitation Hospital of Desert Canyon Las Vegas, NV 1 IRF 53,260 3.9 $1,622 $30.45 Encompass Health Cobalt Rehabilitation Hospital of Surprise Surprise, AZ 1 IRF 54,575 13.5 $2,071 $37.95 Cobalt Rehabilitation Saint Joseph Rehabilitation Institute Mishawaka, IN 1 IRF 45,920 3.5 $1,523 $33.17 Trinity Mercy Rehabilitation Hospital Oklahoma City Oklahoma City, OK 1 IRF 53,449 14.3 $1,967 $36.79 Kindred/ Mercy California Cancer Associates for Research and Excellence (cCare) San Marcos, CA 1 MOB 20,230 6.1 $907 $44.85 California Cancer Associates for Research and Excellence ( cCare ) 2Q - 2021| Earnings Supplemental (as of June 30, 2021, see page 20 for footnotes)

 

 

Real Estate Portfolio 18 Property Location # of Bldgs Facility Type Net Leasable Square Feet Lease Years Remaining Annualized Rent (1) ($ in 000’s) Annualized Rent Per Square Foot (1) Tenant/Guarantor (2) East Lansing Medical Office Portfolio Lansing, MI 3 MOB/ASC 42,817 6.9 $860 $20.10 Genesis Surgery Center Bannockburn Medical Office Bannockburn, IL 1 MOB 44,063 4.8 $531 $12.04 Illinois Bone and Joint Institute Advocate Dryer Clinic Aurora, IL 1 Office 50,000 3.9 $1,081 $21.62 Advocate Dryer Clinic Mission Health Medical Office Livonia, MI 1 MOB 62,507 1.8 $821 $13.13 Trinity Health/ Ascension Covenant Surgical Partners - Arizona Centers for Digestive Health Gilbert, AZ 1 MOB/ASC 14,052 8.2 $400 $28.44 Covenant Surgical Partners MedExpress - Urgent Care MSO Morgantown, WV 1 Office 25,000 8.0 $600 $24.00 MedExpress - Urgent Care MSO Steward - Medical Center of Southeast Texas Beaumont, TX 1 Surgical Hospital 84,674 4.3 $2,614 $30.87 Steward - Medical Center of Southeast Texas HCA - St. David's Healthcare Partnership Bastrop, TX 1 FSED 28,500 3.0 $954 $33.46 HCA - St. David's Healthcare Partnership EyeSouth Partners - Eye Center South Panama City, FL 3 MOB/ASC 34,624 13.3 $907 $26.20 EyeSouth Partners - Eye Center South Southeast Orthopedic Specialists Jacksonville, FL 2 MOB 20,869 13.4 $628 $30.09 Southeast Orthopedic Specialists Indiana Eye Clinic Greenwood, IN 1 MOB/ASC 16,553 11.9 $437 $26.38 Indiana Eye Clinic Wake Forest Baptist Health - High Point High Point, NC 1 MOB 97,811 1.9 $1,906 $19.49 Wake Forest Health Network Mercy Medical Center Clinton, IA 1 MOB/ASC 115,142 3.0 $1,282 $11.13 Trinity Health Columbia St. Mary's Hospital Milwaukee West Allis, WI 1 MOB 33,670 3.3 $664 $19.73 Ascension Grand Rapids Ophthalmology Grand Rapids, MI 4 MOB/ASC 95,108 6.3 $2,165 $22.77 Blue Sky Vision Spectrum Healthcare Resources Dumfries, VA 1 MOB 99,718 3.2 $1,743 $17.48 Team Health Holdings St. Joseph's Mercy Hospital Centerville, IA 1 MOB 15,748 9.6 $367 $23.30 Catholic Health Initiatives - Iowa Corp. Spectrum Healthcare Resources Fairfax, VA 1 MOB 73,653 3.1 $1,265 $17.17 Team Health Holdings Franklin Square Professional Center Rosedale, MD 2 MOB 96,596 4.3 $1,568 $16.23 MedStar Family Choice, Inc. BIOMAT USA Plasma Center Lancaster, TX 1 Plasma Center 10,800 7.7 $452 $41.85 Grifols Wake Forest Baptist Health - Winston - Salem Winston - Salem, NC 1 MOB 45,525 3.5 $604 $13.26 North Carolina Baptist Hospital DaVita Portfolio Decatur, GA/ Jackson, TN 2 MOB 36,092 5.2 $767 $21.25 DaVita Prevea Portfolio Sheboygan, WI/ Plymouth, WI 2 MOB 40,250 4.7 $1,016 $25.24 Hospital Sisters Services FCS Cancer Portfolio Spring Hill, FL/ Hudson, FL 3 MOB/Img 45,233 7.5 $1,277 $28.23 Florida Cancer Specialists & Research Institute Physicians Alliance Surgery Center Cape Girardeau, MO 1 ASC 13,201 5.2 $592 $44.81 Physicians Alliance Tuscany Medical Plaza Yuma, AZ 2 MOB 24,000 3.7 $569 $23.71 Yuma Regional Medical Center Blossom Bariatrics Las Vegas, NV 2 MOB/ASC 16,015 11.5 $496 $30.99 Blossom Bariatrics Clearway Pain Solutions Pensacola, FL 3 MOB/ASC 32,189 8.5 $654 $20.32 Clearway Pain Solutions Gulf Coast Clinic Venice, FL 2 MOB 24,073 5.2 $483 $20.08 Gulf Coast Medical Group El Paso Cardiology El Paso, TX 1 MOB 27,750 3.2 $757 $27.27 El Paso Cardiology Associates West El Paso ASC El Paso, TX 3 MOB/ASC 22,700 8.3 $688 $30.30 Physicians West Surgicenter DaVita & VA Syracuse, NY 1 MOB 35,809 7.9 $507 $14.17 DaVita/ VA Kindred Health Behavioral Fort Worth, TX 1 Behavioral Hospital 33,997 8.0 $1,332 $39.17 Kindred Healthcare 2Q - 2021| Earnings Supplemental (as of June 30, 2021, see page 20 for footnotes)

 

 

Real Estate Portfolio 19 Property Location # of Bldgs Facility Type Net Leasable Square Feet Lease Years Remaining Annualized Rent (1) ($ in 000’s) Annualized Rent Per Square Foot (1) Tenant/Guarantor (2) St. Lucie Surgery Center Port St. Lucie, FL 1 MOB/ASC 14,000 5.4 $353 $25.21 AmSurg Physicians Primary Care Cape Coral, FL 6 MOB 81,581 5.1 $2,190 $26.84 Physicians Primary Care of Southwest Florida DaVita & Amsurg ASC Dallas, TX 1 MOB/ASC 20,296 7.2 $435 $21.45 AmSurg/DaVita Sanford / Altru East Grand Forks, MN 1 MOB 61,995 5.3 $706 $11.39 Altru Health System/Sanford Health Fresenius Kidney Care Coos Bay, OR 1 Dialysis 10,144 3.3 $481 $47.38 Fresenius Mercy Health Caledonia, MI 1 MOB 14,157 4.2 $303 $21.38 Mercy Health Tallahassee Primary Care Associates, PA Tallahassee, FL 1 MOB 32,000 9.1 $644 $20.11 Tallahassee Primary Care Associates, PA Total Portfolio/Average 157 4,050,990 7.5 $96,839 $23.90 2Q - 2021| Earnings Supplemental (as of June 30, 2021, see page 20 for footnotes)

 

 

Disclosures Rent Coverage Ratio (see pages 12 and 14 ) For purposes of calculating our portfolio weighted - average EBITDARM coverage ratio (“Rent Coverage Ratio”), we excluded credit - rated tenants or their subsidiaries for which financial statements were either not available or not sufficiently detailed . These ratios are based on latest available information only . Most tenant financial statements are unaudited and we have not independently verified any tenant financial information (audited or unaudited) and, therefore, we cannot assure you that such information is accurate or complete . Certain other tenants (approximately 11 % of our portfolio) are excluded from the calculation due to (i) lack of available financial information or (ii) receipt of significant COVID - 19 relief funds that may cause reported coverage to differ materially from underlying performance . Additionally, our Rent Coverage Ratio adds back physician distributions and compensation . Management believes all adjustments are reasonable and necessary . Real Estate Portfolio (see pages 16 - 19 ) Data as of June 30, 2021. (1) Monthly base rent at June 30, 2021 multiplied by 12 (or actual NOI where more reflective of property performance). In additi on, Marina Towers and Rock Surgery Center are presented on a cash - collected basis. Accordingly, this methodology produces an annualized amount as of a point in time but does not take into account future contr act ual rental rate increases . (2) Certain lease guarantees are for less than 100% of the contractual rental payments. Additional Information The information in this document should be read in conjunction with the Company’s Annual Report on Form 10 - K, Quarterly Reports on Form 10 - Q, Current Reports on Form 8 - K, and other information filed with, or furnished to, the SEC . You can access the Company’s reports and amendments to those reports filed or furnished to the SEC pursuant to Section 13 (a) or 15 (d) of the Exchange Act in the “Investor Relations” section on the Company’s website (www . globalmedicalreit . com) under “SEC Filings” as soon as reasonably practicable after they are filed with, or furnished to, the SEC . The information on or connected to the Company’s website is not, and shall not be deemed to be, a part of, or incorporated into, this Earnings Supplemental . You also can review these SEC filings and other information by accessing the SEC’s website at http : //www . sec . gov . Certain information contained in this package, including, but not limited to, information contained in our Top 10 tenant profiles is derived from publicly - available third - party sources . The Company has not independently verified this information and there can be no assurance that such information is accurate or complete . 20 (as of June 30, 2021) 2Q - 2021| Earnings Supplemental

 

 

Stephen Swett stephen.swett@icrinc.com 203.682.8377 www.globalmedicalreit.com NYSE: GMRE INVESTOR RELATIONS