<SEC-DOCUMENT>0001104659-22-031041.txt : 20220307
<SEC-HEADER>0001104659-22-031041.hdr.sgml : 20220307
<ACCEPTANCE-DATETIME>20220307160522
ACCESSION NUMBER:		0001104659-22-031041
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220307
DATE AS OF CHANGE:		20220307

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ventas, Inc.
		CENTRAL INDEX KEY:			0000740260
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				611055020
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10989
		FILM NUMBER:		22718013

	BUSINESS ADDRESS:	
		STREET 1:		353 N. CLARK STREET
		STREET 2:		SUITE 3300
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60654
		BUSINESS PHONE:		3126603800

	MAIL ADDRESS:	
		STREET 1:		353 N. CLARK STREET
		STREET 2:		SUITE 3300
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60654

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VENTAS INC
		DATE OF NAME CHANGE:	19980507
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>tm228400d4_defa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<html><head><TITLE></TITLE></head><body link=blue lang="EN-US">

<p style="margin: 0in 0in 0pt; text-align: left"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0in 0in 0pt; text-align: left"></P>



<P STYLE="margin: 0in 0in 0pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt">UNITED
STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
Washington, D.C. 20549</p>

<p style="font: bold 14pt Times New Roman, Times, Serif; text-align: center; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font: bold 14pt Times New Roman, Times, Serif; text-align: center; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt">SCHEDULE
14A</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt">Proxy
Statement Pursuant to Section&nbsp;14(a) of<br>
the Securities Exchange Act of 1934 (Amendment No. &numsp;&numsp;)</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt">Filed by the Registrant
<font style="font-family: Wingdings">&#120;</font></p>

<p style="font: 400 10pt Times New Roman, Times, Serif; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt">Filed by a Party other
than the Registrant <font style="font-family: Wingdings">&#168;</font></p>

<p style="font: 400 10pt Times New Roman, Times, Serif; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt">Check the appropriate box:</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt"><font style="font-family: Wingdings">&#168;</font>&nbsp;&nbsp;&nbsp;Preliminary
Proxy Statement</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0px"><font style="font-family: Wingdings">&#168;</font><b>&nbsp;&nbsp;&nbsp;Confidential,
for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</b></p>

<p style="font: 400 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;&nbsp;&nbsp;Definitive
Proxy Statement</FONT></p>

<p style="font: 400 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0px"><font style="font-family: Wingdings">&#168;</font>&nbsp;&nbsp;&nbsp;Definitive
Additional Materials</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0px"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#120;</FONT>&nbsp;&nbsp;&nbsp;Soliciting
Material under &sect;240.14a-12</FONT></p>

<p style="font: 400 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="border-bottom: Black 1pt solid; font: 400 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 14pt"><B>Ventas,
Inc.</B></FONT></p>

<p style="font: 400 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;(Name of Registrant
as Specified In Its Charter)</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="border-bottom: Black 1pt solid; font: 400 10pt Times New Roman, Times, Serif; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(Name of Person(s) Filing Proxy Statement, if other
than the Registrant)</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt">Payment of Filing Fee (Check
the appropriate box):</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0px; margin-top: 0pt; margin-bottom: 0pt"><font style="font-family: Wingdings">&#120;</font>&nbsp;&nbsp;&nbsp;No
fee required.</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0px"><font style="font-family: Wingdings">&#168;</font>&nbsp;&nbsp;&nbsp;Fee
paid previously with preliminary materials.</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0px"><font style="font-family: Wingdings">&#168;</font>&nbsp;&nbsp;&nbsp;Fee
computed on table in exhibit required by Item 25(b) per Exchange Act rules 14a6(i)(1) and 0-11</p>

<p style="font: 400 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0px">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 400 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0px"></p>

<p style="font: 400 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0px">&nbsp;</P>

<P STYLE="font: 400 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0px"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 400 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0px">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>On March&nbsp;7, 2022, Ventas,&nbsp;Inc. sent the following email
to its employees.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Subject: CEO Update</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Colleagues:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As you may have seen, Ventas recently issued a press release providing
an update on our Board of Directors and detailing engagement with one of our shareholders, Land&nbsp;&amp; Buildings, and I wanted to
reach out to provide some context.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">First,&nbsp;I am excited to share that we have appointed Michael Embler
to our Board. He is a renowned institutional investor and brings a unique perspective, having served on REIT and healthcare companies'
boards. He fits the important qualities our Board looks for in directors, and I am confident that he will be additive to the work we are
doing to execute our strategy and capital plans. We also announced that Jay Gellert &ndash; who has been a director since 2001 &ndash;
will be retiring at our upcoming Annual Meeting. Jay has been instrumental in the growth of our company, providing unique healthcare insights
to help shape Ventas into the company we are today. I cannot thank him enough for his service. Finally, we also announced that Melody
Barnes, one of our current directors, will be the new Chair of our Nominating and Corporate Governance Committee at our Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With regard to Land&nbsp;&amp; Buildings, it has nominated its founder
to stand for election to our Board at the 2022 Annual Meeting. We have engaged with Land&nbsp;&amp; Buildings, as we do with many of our
shareholders, to better understand its views over the last several months. Our Board also carefully considered Land&nbsp;&amp; Buildings&rsquo;
candidate as part of its normal process and determined that he does not meet our Board&rsquo;s established standards for new directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As we continue to execute on our strategy by maintaining our financial
discipline, building our portfolio, and making strategic investments, we will create significant value for all of our stakeholders for
years to come. Although there&rsquo;s still more work to do, particularly given the industry and global challenges of the last two years,
our efforts to date have been no small feat, and I am incredibly proud of where we are today. Because of your continued hard work and
dedication to our company, we have delivered total shareholder returns of 9.5% year-to-date, which is significantly above our peers and
other benchmarks and indices. And long-term since our founding in 1999, we have delivered compound annual returns of nearly 20%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">What I want to emphasize &ndash; and what I ask all of you to keep
front and center &ndash; is our unwavering focus on our business and serving as a reliable partner to our operators. Staying focused on
the important work at hand should be our highest priority, and we must not lose sight of it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As always, if you receive any inquiries from members of the media,
analysts, or investors, please direct them to Sarah Whitford, who will handle those for us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Your relentless dedication has positioned Ventas as a leader in the
industry and has allowed us to continue to build upon our two-decade track record of excellence and outperformance. I am confident that
the future is bright for Ventas and look forward to all that we will accomplish together.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sincerely,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%; text-align: left">/s/ Debra A. Cafaro</TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Debra A. Cafaro</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chairman and Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Cautionary Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certain of the information contained herein, including intra-quarter
operating information and number of confirmed cases of COVID-19, has been provided by our operators and we have not verified this information
through an independent investigation or otherwise. We have no reason to believe that this information is inaccurate in any material respect,
but we cannot assure you of its accuracy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This communication includes forward-looking statements within the meaning
of Section&nbsp;27A of the Securities Act of 1933, as amended, and Section&nbsp;21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements include, among others, statements of expectations, beliefs, future plans and strategies, anticipated
results from operations and developments and other matters that are not historical facts. Forward-looking statements include, among other
things, statements regarding our and our officers&rsquo; intent, belief or expectation as identified by the use of words such as &ldquo;may,&rdquo;
 &ldquo;will,&rdquo; &ldquo;project,&rdquo; &ldquo;expect,&rdquo; &ldquo;believe,&rdquo; &ldquo;intend,&rdquo; &ldquo;anticipate,&rdquo;
 &ldquo;seek,&rdquo; &ldquo;target,&rdquo; &ldquo;forecast,&rdquo; &ldquo;plan,&rdquo; &ldquo;potential,&rdquo; &ldquo;opportunity,&rdquo;
 &ldquo;estimate,&rdquo; &ldquo;could,&rdquo; &ldquo;would,&rdquo; &ldquo;should&rdquo; and other comparable and derivative terms or the
negatives thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Forward-looking statements are based on management&rsquo;s beliefs
as well as on a number of assumptions concerning future events. You should not put undue reliance on these forward-looking statements,
which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual events
or results to differ materially from those expressed or implied by the forward-looking statements. We do not undertake a duty to update
these forward-looking statements, which speak only as of the date on which they are made. You are urged to carefully review the disclosures
we make concerning risks and uncertainties that may affect our business and future financial performance in our filings with the Securities
and Exchange Commission (&ldquo;SEC&rdquo;), including those made in the &ldquo;Summary Risk Factors&rdquo; section, &ldquo;Risk Factors&rdquo;
section and &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo; section of our most
recently filed Annual Report on Form&nbsp;10-K and Quarterly Report on Form&nbsp;10-Q.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certain factors that could affect our future results and our ability
to achieve our stated goals include, but are not limited to: (a)&nbsp;the impact of the ongoing COVID-19 pandemic and its extended consequences,
including of the Delta, Omicron or any other variant, on our revenue, level of profitability, liquidity and overall risk exposure and
the implementation and impact of regulations related to the CARES Act and other stimulus legislation and any future COVID-19 relief measures;
(b)&nbsp;our ability to achieve the anticipated benefits and synergies from, and effectively integrate, our acquisitions and investments,
including our acquisition of New Senior Investment Group Inc.; (c)&nbsp;our exposure and the exposure of our tenants, managers and borrowers
to complex healthcare and other regulation and the challenges and expense associated with complying with such regulation; (d)&nbsp;the
potential for significant general and commercial claims, legal actions, regulatory proceedings or enforcement actions that could subject
us or our tenants, managers or borrowers to increased operating costs and uninsured liabilities; (e)&nbsp;the impact of market and general
economic conditions, including economic and financial market events, inflation, change in interest rates, supply chain pressures, events
that affect consumer confidence, our occupancy rates and resident fee revenues, and the actual and perceived state of the real estate
markets, labor markets and public capital markets; (f)&nbsp;our ability, and the ability of our tenants, managers and borrowers, to navigate
the trends impacting our or their businesses and the industries in which we or they operate; (g)&nbsp;the risk of bankruptcy, insolvency
or financial deterioration of our tenants, managers borrowers, and other obligors and our ability to foreclose successfully on the collateral
securing our loans and other investments in the event of a borrower default; (h)&nbsp;our ability to identify and consummate future investments
in or dispositions of healthcare assets and effectively manage our portfolio opportunities and our investments in co-investment vehicles,
joint ventures and minority interests; (i)&nbsp;risks related to development, redevelopment and construction projects; (j)&nbsp;our ability
to attract and retain talented employees; (k)&nbsp;the limitations and significant requirements imposed upon our business as a result
of our status as a REIT and the adverse consequences (including the possible loss of our status as a REIT) that would result if we are
not able to comply; (l)&nbsp;the risk of changes in healthcare law or regulation or in tax laws, guidance and interpretations, particularly
as applied to REITs, that could adversely affect us or our tenants, managers or borrowers; (m)&nbsp;increases in our borrowing costs as
a result of becoming more leveraged or as a result of changes in interest rates and phasing out of LIBOR rates; (n)&nbsp;our reliance
on third parties to operate a majority of our assets and our limited control and influence over such operations and results; (o)&nbsp;our
dependency on a limited number of tenants and managers for a significant portion of our revenues and operating income; (p)&nbsp;the adequacy
of insurance coverage provided by our policies and policies maintained by our tenants, managers or other counterparties; (q)&nbsp;the
occurrence of cyber incidents that could disrupt our operations, result in the loss of confidential information or damage our business
relationships and reputation; (r)&nbsp;the impact of merger, acquisition and investment activity in the healthcare industry or otherwise
affecting our tenants, managers or borrowers; and (s)&nbsp;the risk of catastrophic or extreme weather and other natural events and the
physical effects of climate change.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Important Additional Information Regarding Proxy Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ventas,&nbsp;Inc. (the &ldquo;Company&rdquo;) intends to file a proxy
statement and WHITE proxy card (the &ldquo;Proxy Statement&rdquo;) with the SEC in connection with the solicitation of proxies for the
Company&rsquo;s 2022 annual meeting of stockholders (the &ldquo;2022 Annual Meeting&rdquo;). The Company, its directors and certain of
its executive officers will be participants in the solicitation of proxies from stockholders in respect of the 2022 Annual Meeting. Information
regarding the names of the Company&rsquo;s directors and executive officers and their respective interests in the Company by security
holdings or otherwise is set forth in the Company&rsquo;s proxy statement for the 2021 Annual Meeting of stockholders, filed with the
SEC on April&nbsp;13, 2021 (the &ldquo;2021 Proxy Statement&rdquo;). To the extent holdings of such participants in the Company&rsquo;s
securities have changed since the amounts described in the 2021 Proxy Statement, such changes have been reflected on Initial Statements
of Beneficial Ownership on Form&nbsp;3 or Statements of Change in Ownership on Form&nbsp;4 filed with the SEC. Additional information
can also be found in the Company&rsquo;s Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2021, filed with the SEC
on February&nbsp;18, 2022. Details concerning the nominees of the Company&rsquo;s Board of Directors for election at the 2022 Annual Meeting
will be included in the Proxy Statement. BEFORE MAKING ANY VOTING DECISION,&nbsp;INVESTORS AND STOCKHOLDERS OF THE COMPANY ARE URGED TO
READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC,&nbsp;INCLUDING THE COMPANY&rsquo;S DEFINITIVE PROXY STATEMENT AND ANY
AMENDMENTS AND SUPPLEMENTS THERETO BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. These documents, including the definitive Proxy Statement
(and any amendments or supplements thereto) and other documents filed by the Company with the SEC, are available for no charge at the
SEC&rsquo;s website at http://www.sec.gov and at the Company&rsquo;s investor relations website at https://ir.ventasreit.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>



</body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
