National Health Investors, Inc. · NYSE:NHI
National Health Investors — Corporate Update (November 2022)
9 slides from National Health Investors's corporate update, Nov 8, 2022
Slide 1: Business Update
National Health Investors Business Update November 8, 2022
Slide 2: Safe Harbor Statement
Safe Harbor Statement NATIONAL HEALTH INVESTORS These slides and other materials we have filed or may file with the Securities and Exchange Commission, as well as information included in oral statements made, or to be made, by our senior management contain forward-looking statements that are based o
Slide 3: Portfolio Optimization Overview
Portfolio Optimization Overview oy Nur NAL. OBJECTIVES ACTIONS AND OUTCOMES Since Q2 2021 completed approximately $296.4 million in senior housing dispositions at a NOI cap rate of approximately 2.7% and EBITDARM coverage of 0.47x — A — Transitioned six properties to new and existing operators Optim
Slide 4: Senior Housing & SNF Dispositions
NA+ Senior Housing & SNF Dispositions (oosersin tousanas) Serio maui NvEsTORS Since 2Q 2021, NHI has completed the disposition of 32 properties for approximately $296.4 million at an implied property cash NOI yield of 2.7% and EBITDARM coverage of 0.47x; also completed the sale of 7 NHC SNFs for $43
Slide 5: EBITDARM Coverage Overview
EBITDARM Coverage Overview Trailing Twelve Month EBITDARM Coverage EBITDARM Coverage Improvement Need Driven Senior Housing EBITDARM coverage continues to show ae uous eget 22 aes F ‘ Paracel . A ‘Senior Housing improvement reflecting the disposition of underperforming senior Reece 69 en on Ae Pe) h
Slide 6: Bickford Portfolio Optimization
Bickford Portfolio Optimization INVESTORS: Optimization Impact on Occupancy + NHI sold 3 Bickford legacy properties in 2Q 2022 which weighed heavily on occupancy and cash flow * The chart to the right demonstrates the occupancy difference between the current portfolio of 38 properties compared to th
Slide 7: SHOP Provides Additional Avenue for Growth
ALTH INVESTORS SHOP Provides Additional Avenue for Growth (otis in tnousands except RevPoR) Sitioxal Significant NOI Upside in Senior Housing Operating Portfolio * Effective April 1, 2022, NHI transitioned 15 independent living communities from triple-net leases to joint-ventures with best-in-class
Slide 8: Balance Sheet Strength
Balance Sheet Strength (coters in mitions THLINVESTORS Strong Balance Sheet Provides Ample Liquidity for vestment + NHI has reduced debt by $434 million since the pandemic began and $690 million available on the $700 million revolver at September 30, 2022 * Despite significant deferrals and rent res
Slide 9: Definitions
Definitions NATIONAL HEALTH INVESTORS ADJUSTED EBITDA & EBITDARM We consider Adjusted EBITDA to be an important supplemental measure because it provides information which we use to evaluate our performance and serves as. an indication of our ability to service debt. We defi ne Adjusted EBITDA as con
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