National Healthcare Properties, Inc. · NASDAQ:NHP
National Healthcare Properties — Q4 2025 Earnings Presentation
9 slides from National Healthcare Properties's earnings presentation, Feb 20, 2026
Slide 1: Fourth Quarter 2025 Earnings Call
February 20, 2026 Fourth Quarter 2025 Earnings Call
Slide 2: Same Store Portfolio Overview
Same Store Portfolio Overview The NHP portfolio represents an attractive blend of assets uniquely positioned to capitalize on the aging of the American population Senior Housing 37 $11.7M 3,615 85.5% Operating Communities(1) Cash NOI Units(2) % Occupied(2) SHOP “SHOP” 37% % OMF CNOI Outpatient 63% M
Slide 3: Q4'25 Highlights
Q4’25 Highlights Financial Performance Organic Growth Balance Sheet & Capital • Net loss attributable to common • Fourth quarter portfolio Same Store • Fourth quarter dispositions totaled stockholders of $(0.92) per basic Cash Net Operating Income (“NOI”) $11.0 million, representing the and diluted
Slide 4: Same Store SHOP Portfolio Performance Trend
Same Store SHOP Portfolio(1) Performance Trend Cash NOI ($ in millions) Revenue Per Occupied Room (RevPOR) Growth $6,107 $11.7 26.5% $9.2 5.3% $5,800 Q4'24 Q4'25 Q4'24 Q4'25 1) All periods shown exclude any closed dispositions and disposition pipeline properties. Fourth Quarter 2025 4
Slide 5: OMF Portfolio
OMF Portfolio 129 3.6M 92% 94% 5.6 years 2.2% Properties (3) Square Feet (3) Tenant Ending WALTR Annual Rent Retention Occupancy (3) Escalators Campus Type Tenant Type Expense Structure(1) (as a % of base rent) 1% 17% 27% 32% 42% % Total SF % Rent % Total SF 58% 82% 41% On Campus/Adjacent Off Campus
Slide 6: Disciplined Progress Toward Stronger Balance Sheet
Disciplined Progress Toward Stronger Balance Sheet Amount • Well-laddered profile enhances balance sheet stability ($ millions) Coupon(1) Maturity Mortgage notes payable • Net Debt to Annualized Adjusted EBITDA was 9.2x for Secured Term Loan 1 $ 85.8 4.60% May 2028 the fourth quarter, representing a
Slide 7: Transfer Agent and Account Access
Transfer Agent and Account Access • For account information and other common inquiries, including balances and the status of submitted paperwork, please contact NHP's transfer agent, Computershare: • Via Internet: www.computershare.com/investor • Via telephone: • Toll Free - 1 (888) 796-2490 • IRA B
Slide 8: Disclaimer
Disclaimer References in this presentation to the “NHP,” “we,” “us” and “our” refer to National Healthcare Properties, Inc. and its consolidated subsidiaries. This presentation may contain “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. These forward-
Slide 9: National Healthcare Properties
National Healthcare Properties February 2026 nhpreit.com
National Healthcare Properties — Q4 2025 Earnings Presentation on 6ix