Caretrust Reit, Inc. · NYSE:CTRE
Caretrust Reit — Merger or Acquisition (October 2026)
14 slides from Caretrust Reit's merger presentation, October 2026
Slide 1: Strategic SHOP pipeline positioned to drive scale and growth
C AR E D EVELOP MENTS Strategic SHOP pipeline positioned to drive scale and growth Acquisition of 45 new, high-quality care homes across the UK October 2026
Slide 2: CareTrust and LNT create £1.1bn strategic relationship to develop and own 45 private pay care homes
CARETRUST AND LNT CREATE £1.1BN STRATEGIC RELATIONSHIP WITH INITIAL INVESTMENT TO DEVELOP AND OWN 45 PRIVATE PAY CARE HOMES ACROSS THE UK TRANSACTION OVERVIEW LNT CARE DEVELOPMENTS (“LNT”) Strategic partnership to deliver brand new, purpose-built homes Leading vertically integrated UK care home deve
Slide 3: Transaction structure
TRANSACTION STRUCTURE P HASE 1: TRIPLE-NET LEASE PHASE 1: TRIPLE-NET LEASE DURING LEASE-UP ILLUSTRATIVE ECONOMICS TO CARETRUST £1.4mm Annual rent per home Income Stabilization SHOP conversion occurs at stabilization Phase 2 NOI 3.0% Annual escalator Contractual income during lease-up Phase 1 rent 20
Slide 4: Why the strategically important LNT relationship?
WHY THE STRATEGICALLY IMPORTANT LNT RELATIONSHIP? Favorable UK senior housing dynamics 1 ⚫ 80+ population projected to double by 2050 combined with structural supply constraints create a durable backdrop for occupanc y and rate growth New, purpose-built portfolio to serve growing demand 2 ⚫ Assets l
Slide 5: Favorable demographic and economic trends creating growth opportunity in UK senior housing
FAVORABLE DEMOGRAPHIC AND ECONOMIC TRENDS ARE CREATING AN UNPRECEDENTED GROWTH OPPORTUNITY IN SENIOR HOUSING FOR THE UK UK Over-80 Senior Population (000s) ⚫ UK over-80 population is projected to double by 2050 8,000 6,000 ⚫ Over-65 population has grown by ~16% over the past decade 4,000 Superior de
Slide 6: New, purpose-built portfolio across highly desirable UK markets
NEW, PURPOSE-BUILT PORTFOLIO ACROSS HIGHLY DESIRABLE UK MARKETS Higher than LNT market characteristics (1) UK average? % of population 75+ 10% . Home ownership % 66% . Average house price £324K . Acquired LNT Competition (1) portfolio % % of units with en-suite wet rooms 36% 100% Source: Knight F
Slide 7: Expanded footprint with new purpose-built homes in attractive UK markets
EXPANDED FOOTPRINT WITH NEW PURPOSE-BUILT HOMES IN ATTRACTIVE UK MARKETS LNT PROPERTY MAP (45 ACQUIRED PROPERTIES) LNT’S GEOGRAPHIC MIX BY REGION Other 11% / 5 LNT’s developments per region South West Care homes already completed East of England 24% / 11 9% / 4 Care homes under construction 1 13 Nor
Slide 8: LNT is the prolific developer of UK care homes with a 30-year track record
LNT IS THE PROLIFIC DEVELOPER OF UK CARE HOMES WITH A 30-YEAR TRACK RECORD OVERVIEW SAMPLES OF LNT’S STANDARD DESIGNS ⚫ LNT is a highly differentiated, vertically integrated care home platform supported by a strong management team with in-depth market knowledge ⚫ Long track record of delivering and
Slide 9: Crystal Care is LNT's integrated, best-in-class UK care home operator
CRYSTAL CARE IS LNT’S INTEGRATED, BEST-IN-CLASS UK CARE HOME OPERATOR SCALE + OPERATING FOUNDATION WHY CRYSTAL CARE IS DIFFERENTIATED 100+ 2,000+ INSTITUTIONAL- ⚫ Experienced executives with a track record managing large multi-site care portfolios CARE HOMES EMPLOYEES QUALITY LEADERSHIP ⚫ Regional o
Slide 10: LNT transaction drives SHOP growth, scale, and diversification
LNT TRANSACTION DRIVES SHOP GROWTH, SCALE, AND DIVERSIFICATION WITH A PREMIER UK SENIOR HOUSING RELATIONSHIP Current Portfolio Pro Forma Portfolio (as of October 1, 2026 – excluding LNT) (based on run-rate LNT portfolio) Enterprise value $10.0 Billion (1) +45 modern UK Enterprise value $11.5 Billion
Slide 11: Transaction rationale and benefits
TRANSACTION RATIONALE AND BENEFITS Commitment to SHOP strategy at scale with prolific UK care . home developer-operator . Materially enhances scale and growth profile of UK business . Improves age, quality and mix of CareTrust’s UK portfolio Structured to provide immediate contractual income wit
Slide 12: The past, present, and future of the CareTrust-LNT SHOP pipeline
C AR E D EVELOP MENTS The past, present, and future of the CareTrust-LNT SHOP pipeline 12 For more color on the CareTrust and LNT relationship, visit the CareTrust YouTube Channel
Slide 13: Disclaimer
DISCLAIMER This investor presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding our intent, belief or expectatio
Slide 14: Slide 14
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