Medical Properties Trust, Inc. · NYSE:MPT
Medical Properties Trust — Non-Deal Roadshow (August 2020)
22 slides from Medical Properties Trust's roadshow presentation, Aug 18, 2020
Slide 1: Mizuho Non-Deal Roadshow August 2020
Exhibit 99.1 MIZUHO NON-DEAL ROADSHOW AUGUST 2020Exhibit 99.1 MIZUHO NON-DEAL ROADSHOW AUGUST 2020
Slide 2: At the Very Heart of Healthcare
® AT THE VERY HEART OF HEALTHCARE® AT THE VERY HEART OF HEALTHCARE
Slide 3: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can generally be identified by the use of forwa
Slide 4: Exclusive Focus on Hospitals
MPT AT THE VERY HEART OF HEALTHCARE EXCLUSIVE FOCUS ON HOSPITALS 2018 NATIONAL HEALTH EXPENDITURES • General Acute Care • Inpatient Rehabilitation • Behavioral Health 32.7% 31.1% Other Hospital $3.6 Trillion 7.1% • 2018 National Health Expenditures (“NHE”) represented 17.8% of GDP. Health Insurance
Slide 5: Estimated $500-$750B of operator-owned hospital real estate
MPT AT THE VERY HEART OF HEALTHCARE Estimated $500-$750 B 5,198 & of operator-owned hospital real estate. community hospitals Meaningful investment opportunities in attractive in the U.S. markets throughout the world. Number of community hospitals in U.S. is from American Hospital Association 5MPT A
Slide 6: 2nd largest U.S. Owner of Hospital Beds
MPT AT THE VERY HEART OF HEALTHCARE 2nd largest U.S. Owner of Hospital Beds Total Gross Assets $17.3 Billion 6MPT AT THE VERY HEART OF HEALTHCARE 2nd largest U.S. Owner of Hospital Beds Total Gross Assets $17.3 Billion 6
Slide 7: Properties across the U.S., Europe and Australia
MPT AT THE VERY HEART OF HEALTHCARE 153 in Europe 224 properties across the U.S. in Australia 11 7MPT AT THE VERY HEART OF HEALTHCARE 153 in Europe 224 properties across the U.S. in Australia 11 7
Slide 8: Experienced Management Team
EXPERIENCED MANAGEMENT TEAM OUR MANAGEMENT TEAM COMPRISED OF PEOPLE WITH EXTENSIVE EXPERIENCE IN: • Hospital Acquisitions and Finance / Capital Markets • Physician Practice Management • Hospital Development and Construction • Hospital Leases • Hospital Operations • Real Estate Management MPT’s Senio
Slide 9: Preeminent Global Hospital Real Estate Platform
PREEMINENT GLOBAL HOSPITAL REAL ESTATE PLATFORM GLOBAL LEADER IN HOSPITAL REAL ESTATE FINANCE FOCUSED ON INVESTMENTS IN LICENSED HOSPITALS, UNLOCKING VALUE AROUND THE GLOBE TO DELIVER CONTINUED SHAREHOLDER GROWTH Best-in-class acute care portfolio driven Established source of capital for by strong o
Slide 10: Well-Diversified Portfolio
WELL-DIVERSIFIED PORTFOLIO GLOBAL PORTFOLIO MIX – COUNTRIES OPERATOR PORTFOLIO MIX 4.1% 14.9% Other ~390 24.3% United Kingdom Steward properties 7.1% 12.4% 66.8% Germany Circle United States 34.7% 5.2% 9.1% 40 Operators 45 Australia Prospect 3.5% operators Switzerland 8.4% 2.0% Prime 7.0% 0.5% Other
Slide 11: MPT's Absolute Net Lease Model
MPT’S ABSOLUTE NET LEASE MODEL LEASE STRUCTURE Absolute Net Long-Term Inflation Protected Master Lease Tenant bears all costs, 10- to 20-year initial terms 97% of leases have inflation- Over 90% of properties including maintenance with multiple 5-year based annual rent escalators; are master leased,
Slide 12: A Proven Growth Strategy
A PROVEN GROWTH STRATEGY ACUTE CARE REAL ESTATE OPPORTUNITY IS RAPIDLY EXPANDING Growing Acceptance Further Accretive of Sale-Leaseback Large Domestic & International Consolidation of Opportunities in Model Among Opportunity Set Hospital Systems 2H 2020 and Beyond Not-for-Profit Operators • Substant
Slide 13: Hospital Expertise Essential to Underwriting
HOSPITAL EXPERTISE ESSENTIAL TO UNDERWRITING Market Operator • MPT’s underwriting process involves a • MPT seeks to be aligned with proven operators comprehensive study and evaluation of each having a successful track record and demonstrated individual hospital and the market it serves, even if mark
Slide 14: Sustained TSR Outperformance
SUSTA SUSTAINE INED D TSR TSR O OUTPE UTPERF RFO ORMA RMANCE NCE TOTAL SHAREHOLDER RETURNS COMPARED TO BENCHMARK INDICES S&P 500, MSCI U.S. REIT and SNL U.S. REIT Healthcare 481% 298% 281% 276% 248% 146% 129% 130% 88% 93% 77% 45% 21% 16% 6% 2% MSCI SNL SNL MSCI S&P 500 MPT SNL MSCI S&P 500 MPT SNL S
Slide 15: Transformative Investments Driving MPT's Extraordinary Growth
TRANSFORMATIVE INVESTMENTS DRIVING MPT’S EXTRAORDINARY GROWTH GROSS ASSETS ($ in millions) Completes the acquisition of 30 acute care hospitals in the U.K. from BMI Healthcare for approximately $2.0 billion. $17,278 $16,529 Completes a joint venture with Primonial Group for 71 German post-acute hosp
Slide 16: Repeated Positive Spread Investing = Sustained Earnings Growth
REPEATED POSITIVE SPREAD INVESTING = SUSTAINED EARNINGS GROWTH MOMENTUM • NFFO/share CAGR outperformance of ~5.5% versus peer weighted average (2010-2019) • Investment capitalization rates maintained, while yields have compressed across other real estate asset classes • In-place debt cost has declin
Slide 17: Leases Structured for Predictable Cash Flow
LEASES STRUCTURED FOR PREDICTABLE CASH FLOW SAME STORE TTM EBITDARM RENT COVERAGE 1Q20 TTM coverages reflect mid-March impact of COVID shutdown and do not include any benefit from government grants or advances 5.00x 4.00x 3.0x 2.9x 2.7x 2.7x 2.7x 2.7x 3.00x 2.5x 2.5x 2.2x 2.2x 2.2x 2.0x 1.8x 1.8x 1.
Slide 18: Laddered Debt Maturities
LADDERED DEBT MATURITIES DEBT MATURITY SCHEDULE $1,628,360 $1,429,770 $1,400,000 $900,000 $761,700 $744,060 $496,040 $500,000 2022 2023 2024 2025 2026 2027 2028 2029 2022 Term Loan 4.000% Notes Due 2022 2.550% Notes Due 2023 2024 AUD Term Loan 6.375% Notes Due 2024 5.500% Notes Due 2024 3.325% Notes
Slide 19: Appendix
APPENDIX 19APPENDIX 19
Slide 20: Normalized FFO Reconciliation
NORMALIZED FFO RECONCILIATION (in thousands, except per share data) Year ended December 31, 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 FFO information: Net income attributable to MPT common shareholders $22,913 $26,536 $89,900 $96,991 $50,522 $139,598 $225,048 $289,793 $1,016,685 $374,684 Par
Slide 21: Pro Forma Total Gross Assets Reconciliation
PRO FORMA TOTAL GROSS ASSETS RECONCILIATION Pro Forma Total Gross Assets (Unaudited) (Amounts in millions) December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 June 30, 2020 Total Assets $6,419 $9,020 $8,844 $14,467 $15,448 Add: Binding real estate commitments on new investments 2
Slide 22: At the Very Heart of Healthcare
® AT THE VERY HEART OF HEALTHCARE® AT THE VERY HEART OF HEALTHCARE
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