Dri Healthcare Trust · TSX:DHT.U
Dri Healthcare Trust — FY2025 Earnings Presentation
18 slides from Dri Healthcare Trust's earnings presentation, Mar 4, 2026
Slide 1: Advancing Science in the Pharmaceutical and Biotechnology Sector
Advancing Science in the Pharmaceutical and Biotechnology Sector Fourth Quarter and Full Year 2025 Earnings Call | March 4, 2026 1
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by DRI Healthcare Trust (“DRI Healthcare”). Established as an unincorporated open-ended trust in Ontario, Canada, and publicly trading since its 2021 IPO, DRI Healthcare is a global leader in providing financing to advance innovation in the life science
Slide 3: Ali Hedayat, Chief Executive Officer
Ali Hedayat Chief Executive Officer DRI Healthcare 3
Slide 4: Agenda
Agenda Ali Hedayat Recent Highlights, 2026 CEO Guidance, Long Term Aspirations & Priorities Navin Jacob Portfolio Update All Q&A CIO Zaheed Mawani CFO Financial Update 4
Slide 5: 2025 Recap
2025 Recap Accretive Governance Increased Unitholder Transactions Enhancements Capacity Value $200M+ deployed / committed Executed Internalization of Manager Significant capital for growth Distributions and unit buybacks • Innovative pre-approval deal • Execution of a new corporate • Repurchased and
Slide 6: 2025 Financial Highlights
2025 Financial Highlights Total Cash Receipts1 Total income Adjusted EBITDA1 $196.4 million $198.6 million $165.0 million 3% over 2024 6% over 2024 5% over 2024 Adjusted EBITDA Margin1 Adjusted Cash Earnings per Unit1 Declared Cash Distributions per Unit 84% $2.26 $0.40 1. Total Cash Receipts and Ad
Slide 7: Navin Jacob, Chief Investment Officer
Navin Jacob Executive Vice President, Investments & Chief Investment Officer, DRI Healthcare 7
Slide 8: Portfolio Performance
Portfolio Performance Portfolio assets show continued growth (millions of U.S. dollars) Q4 2025 Q4 2024 % Change 1 2025 2024 % Change1 TOTAL CASH RECEIPTS2 $50.7 $44.6 14% $196.4 $190.0 3% - - n/a 5.0 - n/a 0.8 - n/a 0.8 - n/a 1.9 2.0 (2) 4.9 6.3 (21) 1.4 1.7 (18) 6.2 6.8 (9) 0.1 0.4 (62) 1.0 2.1 (5
Slide 9: Address important unmet needs with life-changing therapies for patients
Address important unmet needs with life-changing therapies for patients Robust pipeline of over $3 billion Marketed by leading biotech or biopharma companies in potential opportunities1 Provides strong intellectual property and regulatory protection 1. As of March 3, 2026. Represents the aggregate v
Slide 10: Zaheed Mawani, Chief Financial Officer
Zaheed Mawani Chief Financial Officer 10
Slide 11: Q4 2025 Financial Highlights
Q4 2025 Financial Highlights Total Cash Receipts1 Total income Adjusted EBITDA1 $50.7 million $61.7 million $46.2 million 14% over Q4 2024 Flat vs Q4 2024 25% over Q4 2024 Adjusted EBITDA Margin1 Adjusted Cash Earnings per Unit - diluted1 Declared Cash Distributions per Unit 91% $0.77 $0.10 1. Total
Slide 12: Strong Cash Generation
Strong Cash Generation Cash available to drive portfolio growth and maintain distributions to Unitholders Adjusted EBITDA1 for the Last Twelve Months Ended December 31, 2025 (millions) LTM Adjusted EBITDA Margin1 $188.9 $4.7 $198.6 $196.4 84% $2.0 $1.8 $1.1 ($2.0) ($1.8) ($1.1) $2.7 $0.3 ($22.5) ($0
Slide 13: Well-Capitalized for Growth
Well-Capitalized for Growth Significant capacity for Cash and cash equivalents Royalties receivable Credit facility availability further $42.4 $59.7 $239.0 growth million1 million1 million1 1. As at December 31, 2025. 13
Slide 14: Ali Hedayat, Chief Executive Officer
Ali Hedayat Chief Executive Officer DRI Healthcare 14
Slide 15: 2025 Guidance Lookback
2025 Guidance Lookback Fiscal 2025 Guidance For FY 2025, the Company communicated its guidance using the following framework: 2025 Guidance On a committed basis, including near-term contingent More than $1.25 billion over 5 milestone payments, DRI Healthcare delivered against target of Capital deplo
Slide 16: 2026 Financial Guidance & Multi-Year Aspiration through 2030
2026 Financial Guidance & Multi-Year Aspiration through 2030 Building on a solid foundation with a strong record of execution 2026 Guidance Multi-Year Aspiration through 20302 Capital Deployment Adjusted EBITDA Target Adjusted EBITDA ($) Growth Rates (%) Over 5 Years (2026 – 2030) $800 Million to Lo
Slide 17: Efficient Execution & Disciplined Expense Management
Efficient Execution & Disciplined Expense Management Key priorities Strengthening Asset Risk Framework Disciplined Capital Allocation Focus on long-term, sustainable growth generating strong Unitholder returns 17
Slide 18: Thank you
Thank you Contact us ir@drihealthcare.com 18