Highlights:

- Acquisitions: Added three SHOP communities through two acquisitions totaling nearly $160 million:

One community in Florida for $69 million to be operated by Charter Senior Living.
Two communities in Virginia and Maryland for $89 million, operated by IntegraCare, an operator new to LTC.
Collectively, the acquisitions add 270 independent living, assisted living, and memory care units with an average age of 6 years and located in primary markets as designated by NIC. The investments are expected to generate an average year-one cap rate of approximately 6.5% and an anticipated unlevered IRR in the low- to mid-teens.
- Funding: Proceeds from the sale of two non-SHOP portfolios as part of LTC’s ongoing effort to further align its portfolio with its SHOP strategy. The divested assets included three triple-net skilled nursing centers, and 17 triple-net seniors housing communities. The sales generated over $260 million in gross proceeds, and an expected gain on sale of approximately $225 million. Total annualized rental income from these two portfolios was $12 million. Additionally, LTC now expects to receive the previously disclosed payoff of a $180 million mortgage loan secured by 14 skilled nursing centers in early to mid-November 2026.

- Portfolio Transformation and Ongoing Momentum: LTC has rapidly scaled its SHOP platform since its launch in May 2025.

The SHOP platform has grown from 13 to 46 communities, which now contributes over 40% of the Company's annualized net operating income, while its triple-net skilled nursing portfolio has been reduced to approximately 30% of its annualized net operating income.
The SHOP portfolio has an average age of 9 years and is managed by 13 operators, including 11 new relationships established through the platform's expansion.
Year-to-date, LTC has completed approximately $740 million of SHOP acquisitions, representing over 80% of its 2026 mid-point acquisition target, and received gross proceeds of $550 million from sales and a loan payoff which represented $33 million in total annualized income and an anticipated combined gain on sale of over $330 million.