FY24 Investor Presentation

Contents

Presenters

Aaron Hockly

SENIOR VICE PRESIDENT & FUND MANAGER

Michael Groth

CHIEF FINANCIAL OFFICER

Richard Roos

CO-HEAD, ANZ REGION

Chris Adams

CO-HEAD, ANZ REGION

NZ 9.75cpu DISTRIBUTION ACHIEVED IN FY24 AND GUIDANCE MAINTAINED FOR FY25

*Excludes strategic land held for development 1 Average building age = the later of the date of construction or last significant capital works 2 Inclusive of landlord options 3 On a same property, constant currency basis

HIGH QUALITY PORTFOLIO

Landlord to leading healthcare operators 98% occupancy

Average building age1: 9.5 years

DEVELOPMENT UPSIDE

NZ$138.2m remaining spend on existing developments

Embedded value in land held for potential developments

Unmatched development team in healthcare property

MEDIUM TERM GROWTH

Strong underlying NPI growth over FY24

Targeting 2-3% AFFO and DPU growth over the medium term

Strong tenant demand and fundamentals remain

VITAL HEALTHCARE PROPERTY TRUST  |  ANNUAL RESULTS 2024  |  3

Why healthcare real estate?

Vital focuses on the cure parts of the healthcare real estate spectrum; a defensive asset class that provides attractive risk adjusted returns, driven by an aging and growing population.

Macarthur Health Precinct, NSW (Artist's impression)

Growing demand for healthcare

Aging population and growth (including chronic disease and latent demand arising from COVID-19) supported by recent and proposed government policy / funding

Growing need for health and life sciences space

Life and health science growing rapidly, driven by increased funding and emerging technologies

Sustained population migration

Shift of population creating outsized need for medical facilities in local markets

Transition towards healthcare precincts

Demand for precincts that combine educational and clinical facilities with other amenities

Increased M&A activity

Consolidation and PE ownership increasing number of sophisticated players at scale

Shift to ambulatory care

Increasing number of procedures being performed outside of hospitals

robust consumer demand

3 Strong balance sheet

<40% gearing; 77% hedging; no significant debt expiring until Q4 FY27; fully funded committed development pipeline

for shovel ready developments

Macarthur Health Precinct (Stage 1), NSW

NZ$310m

OF ASSET SALES SINCE MARCH 2023 INCLUDING NZ$251.3M IN FY24

7.5%

WEIGHTED AVERAGE DISCOUNT TO BOOK VALUE

~NZ$180m

OF NON-CORE ASSETS IN DUE DILIGENCE FOR SALE

Non-core asset sales

Asset sale process largely complete (including ~NZ$180m in due diligence)

Proceeds initially repay debt but ultimately will fund value adding development pipeline

Remaining committed developments are fully funded from existing debt headroom

Recycling capital from asset sales into developments enhance the resilience and medium term returns of the portfolio including through metrics listed below

Improved metrics from asset sales include:

WALE increased by 0.5 years

Average building age reduced to 9.5 years Average property value increased by ~NZ$9m Exposure to green assets increased by 4.2%

Capital partnering remains a medium term strategic objective.

Timing to be delayed (likely until 2025) to allow for Australian market conditions and interest rate outlook to improve.

Epworth Eastern, VIC

Macarthur Health Precinct (Stage 1), Sydney

Targeting 6 Star Green Star (expected to be received in CY24) 1st Health precinct registered with Green Star Communities tool 100% electric building

Playford Health Hub (Stage 2), Adelaide

Targeting 6 Star Green Star (expected to be received in CY24) 100% electric building

We undertook and submitted to Green Council a Embodied Carbon and Life Cycle Assessment

Vital achieved sector leader status (first place) for listed healthcare globally in both standing assets and developments by GRESB. In addition, Vital was ranked third place overall for listed entities in the Oceania region.

GRESB is an international and independent standards organisation which reviews over 2,000 entities in 75 countries representing over US$7 trillion in investments.