EX-99.2 3 exhibit992supplementalinfo.htm EX-99.2

2Q2022
Supplemental Information
FURNISHED AS OF AUGUST 9, 2022 - UNAUDITED
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED

FORWARD LOOKING STATEMENTS & RISK FACTORS

This Supplemental Information report contains disclosures that are “forward-looking statements” as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts and can be identified by the use of words and phrases such as “can,” “may,” “payable,” “indicative,” "predictive," “annualized,” “expect,” “expected,” “range of expectations,” "would have been," "budget," and other comparable terms in this report. These forward-looking statements are made as of the date of this report and are not guarantees of future performance. These statements are based on the current plans and expectations of Company management and are subject to a number of unknown risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those described in this release or implied by such forward-looking statements. Such risks and uncertainties include, among other things, the following: the impact of the COVID-19 pandemic on occupancy rates and on the operations of the Company and its tenants; actions governments take in response to the COVID-19 pandemic, including the introduction of public health measures and other regulations affecting the Company’s properties and the operations of the Company and its tenants; general economic uncertainty in key markets as a result of the COVID-19 pandemic and a worsening of global economic conditions or low levels of economic growth changes in the economy; increases in interest rates; the availability and cost of capital at expected rates; competition for quality assets; negative developments in the operating results or financial condition of the Company's tenants, including, but not limited to, their ability to pay rent; the Company's ability to reposition or sell facilities with profitable results; the Company's ability to re-lease space at similar rates as vacancies occur; the Company's ability to renew expiring leases; government regulations affecting tenants' Medicare and Medicaid reimbursement rates and operational requirements; unanticipated difficulties and/or expenditures relating to future acquisitions and developments; changes in rules or practices governing the Company's financial reporting; the Company may be required under purchase options to sell properties and may not be able to reinvest the proceeds from such sales at rates of return equal to the return received on the properties sold; uninsured or underinsured losses related to casualty or liability; the incurrence of impairment charges on its real estate properties or other assets; and other legal and operational matters. Other risks, uncertainties and factors that could cause actual results to differ materially from those projected are detailed under the heading “Risk Factors,” in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) for the year ended December 31, 2021, under the heading "Risk Factors" and other risks described from time to time thereafter in the Company's SEC filings. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Table of Contents

4 | Highlights
6 | Salient Facts
7 | Corporate Information
8 | Balance Sheet
9 | Statements of Income
10 | FFO, Normalized FFO, & FAD
11 | Capital Funding & Commitments
12 | Debt Metrics
13 | Debt Covenants & Liquidity
14 | Acquisition Activity
15 | Investment Activity
16 | Portfolio
17 | Associated Health Systems
18 | Top Tenants
19 | MOB Proximity to Hospital
20 | Lease Maturity, Lease & Building Size
21 | Historical Occupancy
22 | Occupancy Reconciliation
23 | Leasing Statistics
24 | NOI Performance
25 | NOI Reconciliations
28 | EBITDA Reconciliations
28 | Components of Net Asset Value

Copies of this report may be obtained at www.healthcarerealty.com or by contacting Investor Relations at 615.269.8175 or communications@healthcarerealty.com.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 3

Highlights
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED

QUARTERLY HIGHLIGHTS

•Net income for the three months ended June 30, 2022 was $6.1 million or $0.04 per diluted common share.
•Normalized FFO per share totaled $0.45, an increase of 4.7% from $0.43 in the second quarter of 2021.
•Same store cash NOI for the second quarter increased 3.3% over the prior year. For the trailing twelve months ended June 30, 2022, same store cash NOI grew 2.8%.
•Predictive growth measures in the same store portfolio include:
◦Average in-place rent increases of 2.94%
◦Future annual contractual increases of 3.1% for leases commencing in the quarter
◦Weighted average cash leasing spreads of 3.4% on 205,000 square feet renewed:
▪4% (<0% spread)
▪—% (0-3%)
▪83% (3-4%)
▪13% (>4%)
◦Tenant retention of 78.4%
•Portfolio leasing activity in the second quarter totaled 447,000 square feet related to 145 leases:
◦291,000 square feet of renewals
◦156,000 square feet of new and expansion leases
•The Company previously announced the acquisition of eight medical office buildings totaling 219,000 square feet for $117.6 million in the second quarter of 2022.
•Also during the second quarter, the Company acquired five medical office buildings for $46.2 million totaling 141,000 square feet.
◦In Raleigh, three buildings for $27.5 million totaling 85,000 square feet, including two medical office buildings for $20.5 million totaling 68,000 square feet that are adjacent to A2 rated WakeMed's Cary Hospital campus. Including HTA properties, the Company now owns 13 buildings in this cluster totaling 478,000 square feet and 1.1 million square feet in this market.
◦In Tampa, two medical office buildings for $18.7 million totaling 56,000 square feet and located adjacent to Aa2 rated BayCare's St. Joseph Hospital campus. Including HTA properties, the Company now owns 20 buildings in this market totaling 1.0 million square feet.
•Subsequent to the end of the quarter, the Company acquired an 11,000 square foot medical office building in Seattle for $4.9 million. This building is located adjacent to Aa3 rated EvergreenHealth Medical Center. The Company now owns two buildings in this cluster and 1.6 million square feet in this market.
•Net debt to adjusted EBITDA was 5.7 times at the end of the quarter.
•A dividend of $0.31 per share was paid in May, which equaled 82.6% of FAD. For the trailing twelve months, dividends paid equaled 86.4% of FAD.
•A prorated dividend of $0.2010 per share was paid on July 19, 2022 for stockholders of record on July 14, 2022. The remainder of the $0.31 per share quarterly common stock dividend, equal to $0.1090 per share, is payable on August 30, 2022 to stockholders of record on August 15, 2022.

HTA PRE-MERGER QUARTERLY HIGHLIGHTS

•Net income for the three months ended June 30, 2022 was $14.2 million or $0.06 per diluted common share.
•Normalized FFO per share totaled $0.43.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 4

•Same store cash NOI for the second quarter increased 1.6% over the prior year.
•Portfolio leasing activity in the second quarter totaled 833,000 square feet related to 240 leases:
◦550,000 square feet of renewals
◦283,000 square feet of new and expansion leases
•HTA's second quarter 2022 Supplemental Information is available on the Company's website (www.healthcarerealty.com)

STRATEGIC TRANSACTION UPDATE

•On July 20, 2022, the Company completed its strategic combination with Healthcare Trust of America ("HTA"), creating the preeminent medical office building REIT.
•The Company borrowed from its $1.1 billion asset sale term loan to temporarily fund the $4.82 per share special cash dividend to HTA shareholders. The Company will repay the term loan with proceeds from asset sales and joint ventures. To date, the Company has closed $433 million in joint ventures and asset sale transactions. Transactions totaling $613 million are under contract and expected to close in August. Combined, the weighted average cap rate of these transactions is just under 4.8%. By the end of the third quarter, the Company expects to complete the remaining sales that will bring the total to over $1.1 billion.
•On July 20, 2022. the Company entered into its amended and restated credit facility, including the following components:
◦a $1.5 billion revolving credit facility;
◦$1.5 billion of term loans, including $650 million of new capacity
•On July 20, 2022, the Company combined the surviving Healthcare Realty subsidiary with HTA's existing operating partnership to maintain its UPREIT structure going forward. The UPREIT structure aligns the combined company's unsecured debt obligations in the operating partnership and provides tax efficient strategies for future acquisitions.
•On July 22, 2022, the Company exchanged $1.1 billion of former Healthcare Realty senior notes for newly issued notes of Healthcare Realty Holdings, L.P. to align all corporate level debt under the operating partnership. The Company has $3.7 billion of unsecured notes in eight tranches with expirations through 2031.
•On August 2, 2022, the Company’s Board of Directors authorized the repurchase of up to $500.0 million of outstanding shares of the Company’s common stock either in the open market or through privately negotiated transactions, subject to market conditions, regulatory constraints, and other customary conditions.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 5

Salient Facts
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
AS OF JUNE 30, 2022

| Properties |  |
| 276 properties totaling 18.3M SF |
| 34 markets in 23 states |
| 15.4M SF managed by Healthcare Realty |
| 95.7% medical office and outpatient |
| 63.9% of NOI in Top 10 Markets |
| Capitalization |
| $6.2B enterprise value as of 6/30/22 |
| $4.1B market capitalization as of 6/30/22 |
| 151.6 M shares outstanding as of 6/30/22 |
| $0.31 quarterly dividend per share |
| BBB/Baa2/BBB S&P/Moody's/Fitch |
| 33.1% net debt to enterprise value at 6/30/22 |
| 5.7x net debt to adjusted EBITDA at 6/30/22 |

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 6

Corporate Information
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED

Healthcare Realty Trust is a real estate investment trust that integrates owning, managing, financing and developing income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States. As of June 30, 2022, the Company was invested in 276 real estate properties in 23 states totaling 18.3 million square feet and had an enterprise value of approximately $6.2 billion, defined as equity market capitalization plus the principal amount of debt less cash. The Company provided leasing and property management services to 15.4 million square feet nationwide.

EXECUTIVE OFFICERS
Todd J. Meredith
President and Chief Executive Officer
John M. Bryant, Jr.
Executive Vice President and General Counsel
J. Christopher Douglas
Executive Vice President and Chief Financial Officer
Robert E. Hull
Executive Vice President - Investments
Julie F. Wilson
Executive Vice President - Operations
CORPORATE HEADQUARTERS
Healthcare Realty Trust Incorporated
3310 West End Avenue, Suite 700
Nashville, Tennessee 37203
Phone 615.269.8175 Fax 615.269.8461

| ANALYST COVERAGE
| BMO Capital Markets
| Berenberg Capital Markets LLC
| BTIG, LLC
| CapitalOne Securities, Inc.
| Citi Research
| Credit Suisse Securities (USA) LLC
| Green Street Advisors, Inc.
| J.P. Morgan Securities LLC
| Jefferies LLC
| KeyBanc Capital Markets Inc.
| Raymond James & Associates
| Scotiabank
| SMBC Nikko Securities America, Inc.
| Stifel, Nicolaus & Company, Inc.

POST-MERGER BOARD OF DIRECTORS

J. Knox Singleton
Chairman, Healthcare Realty Trust Incorporated
Retired Chief Executive Officer, Inova Health System
W. Bradley Blair, II
Vice Chairman, Healthcare Realty Trust Incorporated
Retired Chairman, Healthcare Trust of America
Todd J. Meredith
President and Chief Executive Officer
Healthcare Realty Trust Incorporated
John V. Abbott
Retired Chief Executive Officer
Aviation Asset Management Group, General Electric Company
Nancy H. Agee
President and Chief Executive Officer
Carilion Clinic
Vicki U. Booth
President and Board Chair
Ueberroth Family Foundation
Edward H. Braman
Retired Audit Partner
Ernst & Young LLP
Ajay Gupta
Chief Executive Officer
Physician Rehabilitation Network
James J. Kilroy
President and Portfolio Manager
Willis Investment Counsel
Jay P. Leupp
Managing Partner and Senior Portfolio Manager
Terra Firma Asset Management, LLC
Peter F. Lyle
Executive Vice President
Medical Management Associates, Inc.
Constance B. Moore
Retired President and CEO
BRE Properties, Inc.
Christann M. Vasquez
Executive Vice President and Chief Operating Officer
Ascension Texas
David R. Emery (1944-2019)
Chairman Emeritus
Healthcare Realty Trust Incorporated

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 7

Balance Sheet
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA

ASSETS |  |  |  |  |  |
| 2Q 2022 | 1Q 2022 |  | 4Q 2021 | 3Q 2021 | 2Q 2021
Real estate properties |  |  |  |  |  |
Land | $456,306 |  | $427,422 |  |  | $387,918 |  | $375,342 |  | $375,374 |
Buildings, improvements and lease intangibles | 4,673,026 |  | 4,533,583 |  |  | 4,458,119 |  | 4,383,314 |  | 4,249,352 |
Personal property | 11,799 |  | 11,639 |  |  | 11,761 |  | 11,555 |  | 11,589 |
Investment in financing receivables, net 1 | 118,446 |  | 112,515 |  |  | 186,745 |  | 104,806 |  | 104,642 |
Financing lease right-of-use assets 1 | 71,632 |  | 71,966 |  |  | 31,576 |  | 20,760 |  | 19,450 |
Construction in progress | 16,728 |  | 7,319 |  |  | 3,974 |  | 1,546 |  | 1,147 |
Land held for development | 22,952 |  | 22,950 |  |  | 24,849 |  | 27,232 |  | 27,226 |
Total real estate investments | 5,370,889 |  | 5,187,394 |  |  | 5,104,942 |  | 4,924,555 |  | 4,788,780 |
Less accumulated depreciation and amortization | (1,402,509) |  | (1,351,796) |  |  | (1,338,743) |  | (1,322,577) |  | (1,285,251) |
Total real estate investments, net | 3,968,380 |  | 3,835,598 |  |  | 3,766,199 |  | 3,601,978 |  | 3,503,529 |
Cash and cash equivalents | 34,312 |  | 22,694 |  |  | 13,175 |  | 16,000 |  | 18,739 |
Assets held for sale, net | — |  | 14,961 |  |  | 57 |  | 13,603 |  | 21,065 |
Operating lease right-of-use assets | 126,204 |  | 126,851 |  |  | 128,386 |  | 128,945 |  | 121,288 |
Investments in unconsolidated joint ventures | 210,781 |  | 211,195 |  |  | 161,942 |  | 122,345 |  | 117,935 |
Other assets, net | 209,200 |  | 199,186 |  |  | 189,160 |  | 186,328 |  | 182,123 |
Total assets | $4,548,877 |  | $4,410,485 |  |  | $4,258,919 |  | $4,069,199 |  | $3,964,679 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |
| 2Q 2022 | 1Q 2022 |  | 4Q 2021 | 3Q 2021 | 2Q 2021
Liabilities |  |  |  |  |  |
Notes and bonds payable | $2,063,755 |  | $1,907,438 |  |  | $1,801,325 |  | $1,691,433 |  | $1,614,479 |
Accounts payable and accrued liabilities | 84,210 |  | 69,131 |  |  | 86,108 |  | 79,381 |  | 74,927 |
Liabilities of properties held for sale | — |  | 687 |  |  | 294 |  | 766 |  | 942 |
Operating lease liabilities | 94,748 |  | 94,636 |  |  | 96,138 |  | 95,913 |  | 92,110 |
Financing lease liabilities | 62,195 |  | 61,732 |  |  | 22,551 |  | 20,460 |  | 18,648 |
Other liabilities | 66,102 |  | 63,979 |  |  | 67,387 |  | 65,913 |  | 67,319 |
Total liabilities | 2,371,010 |  | 2,197,603 |  |  | 2,073,803 |  | 1,953,866 |  | 1,868,425 |
Commitments and contingencies |  |  |  |  |  |
Stockholders' equity |  |  |  |  |  |
Preferred stock, $.01 par value; 50,000 shares authorized | — |  | — |  |  | — |  | — |  | — |
Common stock, $.01 par value; 300,000 shares authorized | 1,516 |  | 1,516 |  |  | 1,505 |  | 1,475 |  | 1,455 |
Additional paid-in capital | 4,002,526 |  | 3,999,060 |  |  | 3,972,917 |  | 3,882,572 |  | 3,818,592 |
Accumulated other comprehensive loss | (1,250) |  | (3,736) |  |  | (9,981) |  | (12,413) |  | (13,580) |
Cumulative net income attributable to common stockholders | 1,314,515 |  | 1,308,385 |  |  | 1,266,158 |  | 1,244,551 |  | 1,246,617 |
Cumulative dividends | (3,139,440) |  | (3,092,343) |  |  | (3,045,483) |  | (3,000,852) |  | (2,956,830) |
Total stockholders' equity | 2,177,867 |  | 2,212,882 |  |  | 2,185,116 |  | 2,115,333 |  | 2,096,254 |
Total liabilities and stockholders' equity | $4,548,877 |  | $4,410,485 |  |  | $4,258,919 |  | $4,069,199 |  | $3,964,679 |

1 In 2Q 2021, the Company acquired a single-tenant net lease property in San Diego, CA in a sale-leaseback transaction which was accounted as a financing arrangement as required under ASC 842, Leases. In 4Q 2021, the Company acquired a multi-tenant property in Columbus, OH in a sale-leaseback transaction. A portion of the building was accounted as a financing arrangement and a portion of the building was accounted as an imputed lease arrangement as required under ASC 842, Leases. Also in 4Q 2021, the Company acquired two multi-tenant properties in Nashville, TN in a sale-leaseback transaction which were accounted as a financing arrangement as required under ASC 842, Leases. During 1Q 2022, the two multi-tenant properties in Nashville, TN were reclassified out of investment in financing receivables upon the seller lease commencements.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 8

Statements of Income
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
DOLLARS IN THOUSANDS

| 2Q 2022 | 1Q 2022 |  | 4Q 2021 | 3Q 2021 | 2Q 2021 | 1Q 2021 |  | 4Q 2020 | 3Q 2020
Revenues |  |  |  |  |  |  |  |  |  |
Rental income | $140,632 |  | $138,489 |  |  | $131,714 |  | $131,746 |  | $128,486 |  | $128,389 |  |  | $123,877 |  | $123,384 |
Interest from financing receivables, net 1 | 1,957 |  | 1,930 |  |  | 1,766 |  | 1,917 |  | 510 |  | — |  |  | — |  | — |
Other operating | 2,738 |  | 2,475 |  |  | 2,943 |  | 2,969 |  | 2,427 |  | 1,950 |  |  | 2,003 |  | 1,868 |
| 145,327 |  | 142,894 |  |  | 136,423 |  | 136,632 |  | 131,423 |  | 130,339 |  |  | 125,880 |  | 125,252 |
Expenses |  |  |  |  |  |  |  |  |  |
Property operating | 57,010 |  | 57,464 |  |  | 53,032 |  | 55,518 |  | 51,509 |  | 52,215 |  |  | 50,210 |  | 50,171 |
General and administrative | 10,540 |  | 11,036 |  |  | 8,901 |  | 8,207 |  | 8,545 |  | 8,499 |  |  | 7,206 |  | 7,299 |
Acquisition and pursuit costs 2 | 1,352 |  | 1,303 |  |  | 1,152 |  | 974 |  | 670 |  | 744 |  |  | 939 |  | 440 |
Merger-related costs | 7,085 |  | 6,116 |  |  | 389 |  | — |  | — |  | — |  |  | — |  | — |
Depreciation and amortization | 55,731 |  | 54,041 |  |  | 51,810 |  | 50,999 |  | 49,826 |  | 50,079 |  |  | 48,104 |  | 47,143 |
| 131,718 |  | 129,960 |  |  | 115,284 |  | 115,698 |  | 110,550 |  | 111,537 |  |  | 106,459 |  | 105,053 |
Other income (expense) |  |  |  |  |  |  |  |  |  |
Gain (loss) on sales of real estate properties | 8,496 |  | 44,784 |  |  | 14,895 |  | 1,186 |  | 20,970 |  | 18,890 |  |  | (34) |  | 2,177 |
Interest expense | (15,543) |  | (13,661) |  |  | (13,266) |  | (13,334) |  | (13,261) |  | (13,262) |  |  | (13,618) |  | (14,154) |
Loss on extinguishment of debt | — |  | (1,429) |  |  | — |  | — |  | — |  | — |  |  | (21,503) |  | — |
Impairment of real estate assets | — |  | 25 |  |  | (520) |  | (10,669) |  | (5,078) |  | (834) |  |  | — |  | — |
Equity loss from unconsolidated joint ventures | (307) |  | (345) |  |  | (391) |  | (183) |  | (146) |  | (74) |  |  | (269) |  | (66) |
Interest and other income (expense), net | (125) |  | (81) |  |  | (250) |  | — |  | (262) |  | 500 |  |  | 140 |  | 74 |
| (7,479) |  | 29,293 |  |  | 468 |  | (23,000) |  | 2,223 |  | 5,220 |  |  | (35,284) |  | (11,969) |
Net income (loss) | $6,130 |  | $42,227 |  |  | $21,607 |  | ($2,066) |  | $23,096 |  | $24,022 |  |  | ($15,863) |  | $8,230 |

1 In 2Q 2021, the Company acquired a single-tenant net lease property in San Diego, CA in a sale-leaseback transaction which was accounted as a financing arrangement as required under ASC 842, Leases. In 4Q 2021, the Company acquired a multi-tenant property in Columbus, OH in a sale-leaseback transaction. A portion of the building was accounted as a financing arrangement and a portion of the building was accounted as an imputed lease arrangement as required under ASC 842, Leases.
Also in 4Q 2021, the Company acquired two multi-tenant properties in Nashville, TN in a sale-leaseback transaction which were accounted as a financing arrangement as required under ASC 842, Leases. During 1Q 2022, the two multi-tenant properties in Nashville, TN were reclassified out of investment in financing receivables upon the seller-lessees lease commencements.
2 Includes third party and travel costs related to the pursuit of acquisitions and developments.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 9

FFO, Normalized FFO, & FAD 1, 2
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA

| 2Q 2022 | 1Q 2022 |  | 4Q 2021 | 3Q 2021 | 2Q 2021 | 1Q 2021 |  | 4Q 2020 | 3Q 2020 |  |  |  |  |  |  |
Net income (loss) | $6,130 | $42,227 |  | $21,607 | $(2,066) | $23,096 | $24,022 |  | $(15,863) | $8,230 |  |  |  |  |  |  |
(Gain) loss on sales of real estate assets | (8,496) | (44,784) |  | (14,895) | (1,186) | (20,970) | (18,890) |  | 34 | (2,177) |  |  |  |  |  |  |
Impairments of real estate assets | — | (25) |  | 520 | 10,669 | 5,078 | 834 |  | — | — |  |  |  |  |  |  |
Real estate depreciation and amortization | 57,334 | 55,658 |  | 53,255 | 52,390 | 51,199 | 51,311 |  | 49,251 | 48,215 |  |  |  |  |  |  |
Unconsolidated JV depreciation and amortization | 2,807 | 2,369 |  | 1,816 | 1,558 | 1,354 | 813 |  | 323 | 80 |  |  |  |  |  |  |
FFO | $57,775 | $55,445 |  | $62,303 | $61,365 | $59,757 | $58,090 |  | $33,745 | $54,348 |  |  |  |  |  |  |
Acquisition and pursuit costs 3 | 1,352 | 1,303 |  | 1,152 | 974 | 670 | 744 |  | 939 | 440 |  |  |  |  |  |  |
Merger-related costs | 7,085 | 6,116 |  | 389 | — | — | — |  | — | — |  |  |  |  |  |  |
Lease intangible amortization | 584 | 309 |  | 192 | 48 | (6) | (72) |  | (4) | (35) |  |  |  |  |  |  |
Non-routine legal costs/forfeited earnest money received 4 | 140 | 91 |  | 465 | — | — | (500) |  | — | — |  |  |  |  |  |  |
Debt financing costs | — | 1,429 |  | — | — | 283 | — |  | 21,920 | — |  |  |  |  |  |  |
Unconsolidated JV normalizing items 5 | 83 | 95 |  | 90 | 54 | 55 | 27 |  | 16 | — |  |  |  |  |  |  |
Normalized FFO | $67,019 | $64,788 |  | $64,591 | $62,441 | $60,759 | $58,289 |  | $56,616 | $54,753 |  |  |  |  |  |  |
Non-real estate depreciation and amortization | 556 | 460 |  | 497 | 586 | 641 | 673 |  | 724 | 785 |  |  |  |  |  |  |
Non-cash interest amortization 6 | 747 | 711 |  | 671 | 720 | 897 | 894 |  | 976 | 934 |  |  |  |  |  |  |
Provision for bad debt, net | 16 | 143 |  | 70 | 25 | 57 | (79) |  | (511) | (144) |  |  |  |  |  |  |
Straight-line rent income, net | (1,327) | (1,209) |  | (844) | (1,171) | (1,194) | (1,094) |  | (645) | (543) |  |  |  |  |  |  |
Stock-based compensation | 3,356 | 3,699 |  | 2,546 | 2,538 | 2,627 | 3,019 |  | 2,472 | 2,445 |  |  |  |  |  |  |
Unconsolidated JV non-cash items 7 | (242) | (271) |  | (305) | (341) | (354) | (357) |  | 4 | 8 |  |  |  |  |  |  |
Normalized FFO adjusted for non-cash items | 70,125 | 68,321 |  | 67,226 | 64,798 | 63,433 | 61,345 |  | 59,636 | 58,238 |  |  |  |  |  |  |
2nd generation TI | (5,051) | (4,899) |  | (10,207) | (6,219) | (4,748) | (5,189) |  | (8,841) | (5,323) |  |  |  |  |  |  |
Leasing commissions paid | (3,475) | (3,767) |  | (2,214) | (4,531) | (3,804) | (1,193) |  | (3,288) | (1,999) |  |  |  |  |  |  |
Capital expenditures | (4,557) | (2,620) |  | (6,043) | (5,443) | (6,077) | (2,019) |  | (8,931) | (4,580) |  |  |  |  |  |  |
Total maintenance capex | (13,083) | (11,286) |  | (18,464) | (16,193) | (14,629) | (8,401) |  | (21,060) | (11,902) |  |  |  |  |  |  |
FAD | $57,042 | $57,035 |  | $48,762 | $48,605 | $48,804 | $52,944 |  | $38,576 | $46,336 |  |  |  |  |  |  |
Dividends | $47,097 | $46,860 |  | $44,631 | $44,022 | $44,021 | $42,782 |  | $40,816 | $40,815 |  |  |  |  |  |  |
TTM dividend payout (dividends/FAD) | 86.4 | % | 88.4 | % |  | 88.1 | % | 90.8 | % | 90.2 | % | 88.7 | % |  | 91.0 | % | 92.2 | % |  |  |  |  |  |  |
FFO per common share - diluted | $0.38 | $0.37 |  | $0.42 | $0.42 | $0.42 | $0.42 |  | $0.25 | $0.40 |  |  |  |  |  |  |
Normalized FFO per common share - diluted | $0.45 | $0.43 |  | $0.44 | $0.43 | $0.43 | $0.42 |  | $0.42 | $0.41 |  |  |  |  |  |  |
TTM Normalized FFO per common share - diluted | $1.75 | $1.73 |  | $1.71 | $1.69 | $1.67 | $1.66 |  | $1.65 | $1.64 |  |  |  |  |  |  |
FFO wtd avg common shares outstanding - diluted 8 | 150,545 | 149,856 |  | 147,039 | 144,807 | 142,914 | 139,714 |  | 135,701 | 135,159 |  |  |  |  |  |  |

1 Funds from operations (“FFO”) and FFO per share are operating performance measures adopted by the National Association of Real Estate Investment Trusts, Inc. (“NAREIT”). NAREIT defines FFO as “net income (computed in accordance with GAAP) excluding depreciation and amortization related to real estate, gains and losses from the sale of certain real estate assets, gains and losses from change in control, and impairment write-downs of certain real assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity.”
2 FFO, Normalized FFO and Funds Available for Distribution ("FAD") do not represent cash generated from operating activities determined in accordance with accounting principles generally accepted in the United States of America and is not necessarily indicative of cash available to fund cash needs. FFO, Normalized FFO and FAD should not be considered alternatives to net income attributable to common stockholders as indicators of the Company's operating performance or as alternatives to cash flow as measures of liquidity.
3 Acquisition and pursuit costs include third party and travel costs related to the pursuit of acquisitions and developments.
4 Non-routine legal costs include expenses related to two separate disputes; one with a contractor on a $59 million completed construction project and another with a tenant on a violation of use restrictions. Forfeited earnest money received related to a disposition that did not materialize.
5 Includes the Company's proportionate share of normalizing items related to unconsolidated joint ventures such as lease intangibles and acquisition and pursuit costs.
6 Includes the amortization of deferred financing costs, discounts and premiums, and non-cash financing receivable amortization.
7 Includes the Company's proportionate share of straight-line rent, net and provision for bad debt, net related to unconsolidated joint ventures.
8 The Company utilizes the treasury stock method which includes the dilutive effect of nonvested share-based awards outstanding of 806,310 for the three months ended June 30, 2022.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 10

Capital Funding & Commitments
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA

ACQUISITION AND RE/DEVELOPMENT FUNDING |  |  |  |  |  |
| 2Q 2022 | 1Q 2022 | 4Q 2021 | 3Q 2021 | 2Q 2021 |  |  |  |  |  |
Acquisitions 1 | $163,762 | $172,663 | $258,072 | $160,073 | $178,508 |  |  |  |  |  |
Re/development | 9,387 | 7,664 | 11,767 | 6,594 | 5,719 |  |  |  |  |  |
1st gen. TI & acquisition capex 2 | 8,103 | 7,473 | 7,596 | 4,675 | 5,975 |  |  |  |  |  |
MAINTENANCE CAPITAL EXPENDITURES FUNDING
| 2Q 2022 | 1Q 2022 | 4Q 2021 | 3Q 2021 | 2Q 2021 |  |  |  |  |  |
2nd generation TI | $5,051 | $4,899 | $10,207 | $6,219 | $4,748 |  |  |  |  |  |
Leasing commissions paid | 3,475 | 3,767 | 2,214 | 4,531 | 3,804 |  |  |  |  |  |
Capital expenditures | 4,557 | 2,620 | 6,043 | 5,443 | 6,077 |  |  |  |  |  |
| $13,083 | $11,286 | $18,464 | $16,193 | $14,629 |  |  |  |  |  |
% of Cash NOI |  |  |  |  |  |
2nd generation TI | 5.6 | % | 5.6 | % | 12.1 | % | 7.6 | % | 5.9 | % |  |  |  |  |  |
Leasing commissions paid | 3.9 | % | 4.3 | % | 2.6 | % | 5.6 | % | 4.8 | % |  |  |  |  |  |
Capital expenditures | 5.1 | % | 3.0 | % | 7.2 | % | 6.7 | % | 7.6 | % |  |  |  |  |  |
| 14.5 | % | 13.0 | % | 22.0 | % | 19.9 | % | 18.3 | % |  |  |  |  |  |
LEASING COMMITMENTS
| 2Q 2022 | 1Q 2022 | 4Q 2021 | 3Q 2021 | 2Q 2021 |  |  |  |  |  |
Renewals |  |  |  |  |  |  |  |  |  |  |
Square feet | 205,400 | 260,202 | 332,819 | 360,302 | 285,412 |  |  |  |  |  |
2nd generation TI/square foot/lease year | $1.66 | $1.73 | $1.46 | $1.75 | $1.87 |  |  |  |  |  |
Leasing commissions/square foot/lease year | $1.15 | $1.04 | $1.23 | $0.93 | $1.03 |  |  |  |  |  |
Renewal commitments as a % of annual net rent | 11.4 | % | 11.0 | % | 11.4 | % | 11.4 | % | 13.3 | % |  |  |  |  |  |
WALT (in months) 3 | 39.7 | 42.9 | 46.4 | 45.0 | 53.1 |  |  |  |  |  |
New leases |  |  |  |  |  |  |  |  |  |  |
Square feet | 79,467 | 96,001 | 109,592 | 97,619 | 106,950 |  |  |  |  |  |
2nd generation TI/square foot/lease year | $7.07 | $5.93 | $5.44 | $4.74 | $5.96 |  |  |  |  |  |
Leasing commissions/square foot/lease year | $1.65 | $1.90 | $1.84 | $1.62 | $1.21 |  |  |  |  |  |
New lease commitments as a % of annual net rent | 40.6 | % | 32.2 | % | 34.2 | % | 30.7 | % | 33.3 | % |  |  |  |  |  |
WALT (in months) 3 | 77.4 | 76.9 | 77.2 | 80.0 | 79.6 |  |  |  |  |  |
All |  |  |  |  |  |  |  |  |  |  |
Square feet | 284,867 | 356,203 | 442,411 | 457,921 | 392,362 |  |  |  |  |  |
Leasing commitments as a % of annual net rent | 22.6 | % | 19.2 | % | 18.8 | % | 16.8 | % | 20.4 | % |  |  |  |  |  |
WALT (in months) 3 | 50.2 | 52.1 | 54.0 | 52.5 | 60.3 |  |  |  |  |  |

1 Acquisitions include properties acquired through joint ventures at the Company's ownership percentage.
2 Acquisition capex includes near-term fundings underwritten as part of recent acquisitions.
3 WALT = weighted average lease term.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 11

Debt Metrics
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
DOLLARS IN THOUSANDS

SUMMARY OF INDEBTEDNESS AS OF JUNE 30, 2022
| PRINCIPAL BALANCE | BALANCE 1 | INTEREST EXPENSE | MONTHS TO MATURITY | CONTRACTUAL RATE | EFFECTIVE RATE
Senior notes due May 2025 2 | $250,000 | $249,176 | $2,470 | 34 |  | 3.88 | % | 4.08 | %
Senior notes due January 2028 | 300,000 | 296,864 | 2,779 | 66 |  | 3.63 | % | 3.84 | %
Senior notes due March 2030 3 | 300,000 | 296,989 | 1,930 | 93 |  | 2.40 | % | 2.71 | %
Senior notes due March 2031 | 300,000 | 295,601 | 1,591 | 105 |  | 2.05 | % | 2.24 | %
Total senior notes outstanding | $1,150,000 | $1,138,630 | $8,770 | 76 |  | 2.95 | % | 3.18 | %
$700 million unsecured credit facility due May 2023 | 490,500 |  | 490,500 |  | 2,027 |  | 11 |  | LIBOR + 0.90% | 2.69 | %
$200 million unsecured term loan facility due May 2024 4 | 200,000 | 199,572 | 1,196 | 23 |  | LIBOR + 1.00% | 2.55 | %
$150 million unsecured term loan facility due June 2026 5 | 150,000 | 149,447 | 1,021 | 47 |  | LIBOR + 0.95% | 2.79 | %
Mortgage notes payable, net | 85,440 | 85,606 | 809 | 30 |  | 4.07 | % | 3.97 | %
Total outstanding notes and bonds payable | $2,075,940 | $2,063,755 | $13,823 | 52 |  | 2.88 | % | 3.01 | %
Interest cost capitalization |  |  | (107) |  |  |
Unsecured credit facility fee and deferred financing costs |  |  | 1,119 |  |  |
Financing lease right-of-use assets |  |  | 708 |  |  |
Total quarterly consolidated interest expense |  |  | $15,543 |  |  |

DEBT MATURITIES SCHEDULE AS OF JUNE 30, 2022
|  | PRINCIPAL PAYMENTS |  | WEIGHTED AVERAGE RATE
|  | BANK LOANS | SENIOR NOTES | MORTGAGE NOTES | TOTAL |  | BANK LOANS | SENIOR NOTES | MORTGAGE NOTES | TOTAL
2022 |  |  |  | $1,317 | $1,317 |  | — | % | — | % | 4.00 | % | 4.00 | %
2023 |  | $490,500 |  | 18,880 | 509,380 |  | 2.69 | % | — | % | 3.83 | % | 2.73 | %
2024 |  | 200,000 |  | 25,353 | 225,353 |  | 2.55 | % | — | % | 4.41 | % | 2.76 | %
2025 |  |  | $250,000 | 16,250 | 266,250 |  | — | % | 3.88 | % | 4.22 | % | 3.90 | %
2026 |  | 150,000 |  | 23,640 | 173,640 |  | 2.79 | % | — | % | 3.81 | % | 2.93 | %
2027 |  |  |  |  | — |  | — | % | — | % | — | % | — | %
2028 |  |  | 300,000 |  | 300,000 |  | — | % | 3.63 | % | — | % | 3.63 | %
2029 |  |  |  |  | — |  | — | % | — | % | — | % | — | %
2030 |  |  | 300,000 |  | 300,000 |  | — | % | 2.40 | % | — | % | 2.40 | %
Thereafter |  |  | 300,000 |  | 300,000 |  | — | % | 2.05 | % | — | % | 2.05 | %
Total |  | $840,500 | $1,150,000 | $85,440 | $2,075,940 |  | 2.67 | % | 2.95 | % | 4.07 | % | 2.88 | %
Fixed rate debt balance 4,5 |  | $175,000 | $1,150,000 | $85,440 | $1,410,440 |  |  |  |  |

1 Balances are reflected net of discounts and deferred financing costs and include premiums.
2 The effective interest rate includes the impact of the $1.7 million settlement of a forward interest rate hedges that is included in accumulated other comprehensive loss on the Company's Condensed Consolidated Balance Sheets.
3 The effective interest rate includes the impact of the $4.3 million settlement of forward interest rate hedges that are included in accumulated other comprehensive loss on the Company's Condensed Consolidated Balance Sheets.
4 The effective interest rate includes the impact of interest rate swaps on $75.0 million at a weighted average rate of 2.37% (plus the applicable margin rate, currently 100 basis points).
5 The effective interest rate includes the impact of interest rate swaps on $100.0 million at a weighted average rate of 2.23% (plus the applicable margin rate, currently 95 basis points).

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 12

Debt Covenants & Liquidity
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
DOLLARS IN THOUSANDS

SELECTED FINANCIAL DEBT COVENANTS YEAR ENDED JUNE 30, 2022 1 |
| CALCULATION | REQUIREMENT | PER DEBT COVENANTS
Revolving credit facility and term loan 2 |  |
Leverage ratio | Total debt/total capital | Not greater than 60% | 36.8 | %
Secured leverage ratio | Total secured debt/total capital | Not greater than 30% | 1.5 | %
Unencumbered leverage ratio | Unsecured debt/unsecured real estate | Not greater than 60% | 40.2 | %
Fixed charge coverage ratio | EBITDA/fixed charges | Not less than 1.50x | 5.3x
Unsecured coverage ratio | Unsecured EBITDA/unsecured interest | Not less than 1.75x | 5.6x
Construction and development | CIP/total assets | Not greater than 15% | 0.4 | %
Unconsolidated joint ventures | Unconsolidated JVs/total assets | Not greater than 15% | 4.8 | %
Asset investments | Unimproved land, JVs & mortgages/total assets | Not greater than 20% | 7.9 | %
Senior Notes due 2030 and 2031 3 |  |  |
Incurrence of total debt | Total debt/total assets | Not greater than 60% | 36.7 | %
Incurrence of debt secured by any lien | Secured debt/total assets | Not greater than 40% | 1.5 | %
Maintenance of total unsecured assets | Unencumbered assets/unsecured debt | Not less than 150% | 266.9 | %
Debt service coverage | EBITDA/interest expense | Not less than 1.5x | 5.6x
Other Senior Notes 4 |  |  |
Incurrence of total debt | Total debt/total assets | Not greater than 60% | 38.2 | %
Incurrence of debt secured by any lien | Secured debt/total assets | Not greater than 40% | 1.5 | %
Maintenance of total unsecured assets | Unencumbered assets/unsecured debt | Not less than 150% | 252.9 | %
Debt service coverage | EBITDA/interest expense | Not less than 1.5x | 5.5x
Other |  |  |
Net debt to adjusted EBITDA 5 | Net debt (debt less cash)/adjusted EBITDA | Not required | 5.7x
Net debt to enterprise value 6 | Net Debt/enterprise value | Not required | 33.1 | %

LIQUIDITY SOURCES
Cash | $34,312
Unsecured credit facility availability | 209,500
Consolidated unencumbered assets (gross) 7 | 5,140,952

1 Does not include all financial and non-financial covenants and restrictions that are required by the Company's various debt agreements. Financial measures include the Company's proportionate share of unconsolidated joint ventures, as applicable.
2 As part of the Company's amendment to its credit facility and term loan agreements during the second quarter of 2019, financial covenants were updated to exclude the impact of Topic 842, Lease Accounting from covenant calculations.
3 The financial covenants for the Senior Note due 2030 exclude the impact of Topic 842, Lease Accounting from the financial covenant calculations.
4 The senior note covenants calculations apply to the Senior Notes due 2025 and 2028. The Senior Notes due 2023 have similar covenants but contain a less restrictive definition of total assets.
5 Adjusted EBITDA is based on the current quarter results, annualized. See page 27 for a reconciliation of adjusted EBITDA. Net debt does not include lease liabilities.
6 Based on the closing price of $27.20 on June 30, 2022 and 151,636,917 shares outstanding. Debt does not include lease liabilities.
7 Annualized second quarter 2022 unencumbered asset NOI was $337.5 million.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 13

r

Acquisition Activity
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
DOLLARS IN THOUSANDS

MOB ACQUISITION ACTIVITY
MARKET | COUNT | MILES TO CAMPUS | ASSOCIATED HEALTH SYSTEM/TENANCY | CLOSING | SQUARE FEET | LEASED % | PURCHASE PRICE 1 | % OWNERSHIP |
Dallas, TX | 1 | 0.19 | Texas Health Resources | 2/11/2022 | 18,000 | 100 | % | $8,175 | 100 | % |
San Francisco, CA | 3 | 0.90 to 3.30 | Kaiser/Sutter | 3/7/2022 | 166,396 | 89 | % | 114,000 | 100 | % |
San Francisco, CA | 3 | 0.00 to 3.30 | MarinHealth/Kaiser/Sutter | 3/7/2022 | 110,865 | 78 | % | 67,175 | 50 | % |
Los Angeles, CA | 2 | 1.30 | Valley Presbyterian | 3/7/2022 | 103,259 | 92 | % | 33,800 | 50 | % |
Atlanta, GA | 1 | 0.00 | Wellstar | 4/7/2022 | 21,535 | 97 | % | 6,912 | 100 | % |
Denver, CO | 1 | 2.40 | Centura | 4/13/2022 | 12,207 | 100 | % | 6,320 | 100 | % |
Colorado Springs, CO | 2 | 0.80 to 1.70 | Centura | 4/13/2022 | 25,800 | 100 | % | 13,680 | 100 | % |
Seattle, WA | 1 | 0.05 | UW Medicine | 4/28/2022 | 13,256 | 97 | % | 8,350 | 100 | % |
Houston, TX | 1 | 1.70 | CommonSpirit | 4/28/2022 | 76,781 | 100 | % | 36,250 | 100 | % |
Los Angeles, CA | 1 | 0.11 | Cedars-Sinai | 4/29/2022 | 34,282 | 100 | % | 35,000 | 100 | % |
Oklahoma City, OK | 1 | 0.18 | Mercy | 4/29/2022 | 34,944 | 100 | % | 11,100 | 100 | % |
Raleigh, NC | 3 | 0.25 to 12.30 | WakeMed/None | 5/31/2022 | 85,113 | 100 | % | 27,500 | 100 | % |
Tampa, FL | 2 | 0.23 | BayCare Health | 6/9/2022 | 55,788 | 100 | % | 18,650 | 100 | % |
Seattle, WA | 1 | 0.24 | EvergreenHealth | 8/1/2022 | 10,593 | 100 | % | 4,850 | 100 | % |
YTD total | 23 |  |  |  | 768,819 | 93 | % | $391,762 |  |
YTD average cap rate 2 |  |  |  |  |  |  | 5.2 | % |  |

DISPOSITION ACTIVITY
LOCATION |  | COUNT | MILES TO CAMPUS | ASSOCIATED HEALTH SYSTEM | CLOSING | SQUARE FEET | LEASED % | SALE PRICE |
Loveland, CO |  | 2 | 0.00 | UC Health | 2/24/2022 | 150,291 | 82 | % | $84,950 |
San Antonio, TX |  | 2 | 0.00 | Tenet | 4/15/2022 | 201,523 | 51 | % | 25,500 |
YTD total |  | 4 |  |  |  | 351,814 | 64 | % | $110,450 |
YTD average cap rate 3 |  |  |  |  | 4.2 | % |

1 Includes joint venture acquisitions at full acquisition price.
2 For acquisitions, cap rate represents the forecasted first year NOI divided by purchase price. Does not include fees earned related to the unconsolidated joint venture.
3 For dispositions, cap rate represents the in-place cash NOI divided by sales price.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 14

Investment Activity
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
DOLLARS IN THOUSANDS

RE/DEVELOPMENT PROJECTS |  |
MARKET | ASSOCIATED HEALTH SYSTEM |  | SQUARE FEET | CURRENT LEASED % | BUDGET | COST TO COMPLETE | PROJECT START | ESTIMATED COMPLETION
Development |  |  |  |  |  |  |  |
Nashville, TN 1 | Ascension |  | 106,194 | 50 | % | $44,000 | $36,608 | 2Q 2021 | 3Q 2023
Total |  |  | 106,194 | 50 | % | $44,000 | $36,608 |  |
Projected stabilized yield - 5.8%-7.5% |  |  |  |
Redevelopment |  |  |  |  |  |  |  |
Seattle, WA 2 | MultiCare |  | 56,000 | 100 | % | $12,500 | $2,974 | 1Q 2021 | 4Q 2022
Dallas, TX 3 | Baylor Scott & White |  | 217,114 | 58 | % | 17,500 | 7,346 | 4Q 2020 | 4Q 2023
Washington, DC | Inova |  | 158,338 | 59 | % | 13,300 | 13,221 | 1Q 2022 | 1Q 2024
Dallas, TX | Baylor Scott & White |  | 145,365 | 62 | % | 11,000 | 10,408 | 1Q 2022 | 1Q 2024
Total |  |  | 576,817 | 63 | % | $54,300 | $33,949 |  |
Projected stabilized yield - 8.0%-11.0% |  |  |  |
Planned re/development |  |  |  |  |  |  |
Denver | Centura |  | 93,992 | 19 | % |  |  |  |
Total re/development projects | 777,003 |  | $98,300 | $70,557 |  |

HISTORICAL INVESTMENT ACTIVITY |  |  |
| ACQUISITIONS 4 |  |  | RE/DEVELOPMENT FUNDING | TOTAL INVESTMENTS |  | DISPOSITIONS | NET INVESTMENTS
2018 | $111,450 |  |  | $35,567 | $147,017 |  | $98,691 | $48,326
2019 | 381,314 |  |  | 28,584 | 409,898 |  | 54,860 | 355,038
2020 | 546,853 |  |  | 26,493 | 573,346 |  | 249,443 | 323,903
2021 | 756,298 |  |  | 33,415 | 789,713 |  | 188,400 | 601,313
2022 | 391,762 |  |  | 17,051 | 408,813 |  | 110,450 | 298,363
Average (2018-2021) | $448,979 |  |  | $31,015 | $479,994 |  | $147,849 | $332,145
% of Total | 93.5 | % |  |  | 6.5 | % | 100.0 | % |  |  |

1 Includes a non-cash $5.0 million allocation for the demolition of the existing building.
2 Redevelopment project is a 23,000 square foot expansion to an existing medical office building. When complete, the building will be approximately 56,000 square feet.
3 The project includes the redevelopment of a 110,860 square foot fitness center located in a 217,114 square foot medical office building. The current fitness center lease will be reduced to 51,740 square feet when the tenant commences operations, which is expected to occur in Q3 2022.
4 Includes joint venture acquisitions at the full acquisition price and was not adjusted for the Company's ownership percentage.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 15

Portfolio 1, 2
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
DOLLARS IN THOUSANDS

MARKETS |  |
|  |  |  |  | SQUARE FEET |  |  |
|  |  |  |  | MOB 95.7% | NON-MOB 4.3.% |  |  |  |
MARKET | MSA RANK | INVESTMENT 1 | COUNT |  | CONSOLIDATED | JOINT VENTURE |  | INPATIENT/SURGICAL | OFFICE |  | TOTAL |  | % OF NOI | CUMULATIVE % OF NOI
Seattle, WA | 15 | 678,335 | 28 |  | 1,558,795 |  |  |  |  |  | 1,558,795 |  | 13.0 | % | 13.0 | %
Dallas, TX | 4 | 545,007 | 23 |  | 2,008,929 |  |  | 156,245 | 145,365 |  | 2,310,539 |  | 11.4 | % | 24.4 | %
Los Angeles, CA | 2 | 477,308 | 23 |  | 887,958 | 418,573 |  | 63,000 |  |  | 1,369,531 |  | 8.3 | % | 32.7 | %
Denver, CO | 19 | 338,625 | 21 |  | 1,098,512 | 116,616 |  |  | 93,869 |  | 1,308,997 |  | 6.1 | % | 38.8 | %
Charlotte, NC | 22 | 183,767 | 16 |  | 860,735 |  |  |  |  |  | 860,735 |  | 5.4 | % | 44.2 | %
Atlanta, GA | 9 | 325,944 | 16 |  | 840,132 |  |  |  |  |  | 840,132 |  | 4.9 | % | 49.1 | %
Nashville, TN | 36 | 327,774 | 10 |  | 951,723 |  |  |  | 108,691 |  | 1,060,414 |  | 4.2 | % | 53.3 | %
Houston, TX | 5 | 217,085 | 12 |  | 726,169 |  |  |  | 57,170 |  | 783,339 |  | 3.7 | % | 57.0 | %
Washington, DC | 6 | 163,652 | 7 |  | 533,832 |  |  |  |  |  | 533,832 |  | 3.5 | % | 60.5 | %
Memphis, TN | 43 | 178,526 | 10 |  | 802,221 |  |  |  |  |  | 802,221 |  | 3.4 | % | 63.9 | %
San Francisco, CA | 12 | 265,752 | 9 |  | 452,666 | 110,865 |  |  |  |  | 563,531 |  | 3.1 | % | 67.0 | %
Indianapolis, IN | 33 | 122,293 | 4 |  | 526,194 |  |  |  |  |  | 526,194 |  | 3.0 | % | 70.0 | %
Honolulu, HI | 56 | 146,054 | 3 |  | 298,427 |  |  |  |  |  | 298,427 |  | 2.8 | % | 72.8 | %
San Diego, CA | 17 | 184,814 | 4 |  | 274,095 |  |  |  |  |  | 274,095 |  | 2.7 | % | 75.5 | %
Austin, TX | 29 | 131,342 | 6 |  | 437,434 |  |  |  |  |  | 437,434 |  | 2.6 | % | 78.1 | %
Richmond, VA | 44 | 110,914 | 6 |  | 405,945 |  |  |  |  |  | 405,945 |  | 2.4 | % | 80.5 | %
Colorado Springs, CO | 78 | 141,363 | 11 |  | 451,646 | 51,466 |  |  |  |  | 503,112 |  | 2.4 | % | 82.9 | %
Des Moines, IA | 82 | 101,133 | 4 |  | 247,338 |  |  |  | 152,655 |  | 399,993 |  | 2.1 | % | 85.0 | %
San Antonio, TX | 24 | 94,094 | 10 |  | 272,150 | 215,520 |  |  |  |  | 487,670 |  | 1.6 | % | 86.6 | %
Chicago, IL | 3 | 61,793 | 2 |  | 257,364 |  |  |  |  |  | 257,364 |  | 1.5 | % | 88.1 | %
Other (14 markets) |  | 682,848 | 51 |  | 2,543,512 | 140,733 |  |  |  |  | 2,684,245 |  | 11.9 | % | 100.0 | %
Total |  | $5,478,423 | 276 |  | 16,435,777 | 1,053,773 |  | 219,245 | 557,750 |  | 18,266,545 |  | 100.0 | % |
Number of properties |  |  |  | 248 | 21 |  | 2 | 5 |  | 276 |  |  |
% of square feet |  |  |  |  | 89.9 | % | 5.8 | % |  | 1.2 | % | 3.1 | % |  | 100.0 | % |  |  |
% multi-tenant |  |  |  |  | 96.0 | % | 95.7 | % |  | — | % | 100.0 | % |  | 95.2 | % |  |  |
Investment 1 |  |  |  |  | $5,005,196 | $215,536 |  | $111,178 | $146,513 |  | $5,478,423 |  |  |
Quarterly cash NOI 1 |  |  |  | $83,044 | $2,551 |  | $3,122 | $1,374 |  | $90,091 |  |  |
% of cash NOI |  |  |  |  | 92.2 | % | 2.8 | % |  | 3.5 | % | 1.5 | % |  | 100.0 | % |  |  |

BY BUILDING TYPE |  |  |  |
| CONSOLIDATED |  |
| MULTI-TENANT | SINGLE-TENANT | JOINT VENTURE | TOTAL
Number of properties | 241 | 14 | 21 | 276
Square feet | 16,334,319 | 878,453 | 1,053,773 | 18,266,545
% of square feet | 89.4 | % | 4.8 | % | 5.8 | % | 100.0 | %
Investment 1 | $4,899,825 | $363,062 | $215,536 | $5,478,423
Quarterly cash NOI 1 | $80,146 | $7,394 | $2,551 | $90,091
% of cash NOI | 89.0 | % | 8.2 | % | 2.8 | % | 100.0 | %

1 Gross investment and quarterly cash NOI are reflected at the Company's ownership percentage.
2 Excludes assets held for sale, land held for development, construction in progress and corporate property.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 16

Associated Health Systems 1,2
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED

MOB PORTFOLIO
|  |  | SQUARE FEET |
| SYSTEM RANK 3 | CREDIT RATING | ON/ADJACENT | OFF CAMPUS |  | % OF NOI
HEALTH SYSTEM | ON | ADJACENT 4 | ANCHORED 5 | <= 2 MILES 6 | TOTAL
Baylor Scott & White Health | 21 | AA-/Aa3 | 1,765,805 | 280,941 | 163,188 | — |  | 2,209,934 |  | 13.0 | %
CommonSpirit Health | 4 | A-/Baa1 | 876,708 | 222,859 | 226,819 | 308,421 | 1,634,807 |  | 8.6 | %
Ascension Health | 3 | AA+/Aa2 | 999,704 | 280,207 | — |  | — |  | 1,279,911 |  | 5.7 | %
Atrium Health | 16 | AA-/Aa3 | 393,815 | 98,066 | 313,513 | — |  | 805,394 |  | 5.1 | %
UW Medicine (Seattle) | 91 | AA+/Aaa | 345,567 | 115,796 | 44,166 | 125,543 | 631,072 |  | 4.9 | %
Tenet Healthcare | 6 | B/B2 | 368,741 | 207,768 | 135,270 | — |  | 711,779 |  | 4.0 | %
Wellstar Health System | 75 | A/A2 | 513,756 | 153,009 | — |  | — |  | 666,765 |  | 3.7 | %
Providence St. Joseph Health | 5 | AA-/Aa3 | 176,854 | 153,433 | — |  | 31,601 | 361,888 |  | 3.2 | %
HCA Healthcare | 1 | BB+/Baa3 | 151,340 | 321,235 | 78,305 | 166,302 | 717,182 |  | 3.2 | %
Indiana University Health | 26 | AA/Aa2 | 423,628 | 102,566 | — |  | — |  | 526,194 |  | 3.0 | %
Hawaii Pacific Health | 181 | --/A1 | 173,502 | — |  | — |  | 124,925 | 298,427 |  | 2.8 | %
Baptist Memorial Health Care | 89 | BBB+/-- | 464,498 | — |  | 150,228 | — |  | 614,726 |  | 2.7 | %
Cedars-Sinai Health Systems | 51 | /Aa3 | — |  | 199,701 | 90,607 | — |  | 290,308 |  | 2.6 | %
Overlake Health System | 291 | A/A2 | 191,051 | 39,659 | — |  | — |  | 230,710 |  | 2.5 | %
Bon Secours Health System | 22 | A+/A1 | 405,945 | — |  | — |  | — |  | 405,945 |  | 2.4 | %
Palomar Health | 271 | BBB/Ba1 | 160,394 | 46,083 | — |  | — |  | 206,477 |  | 2.0 | %
Trinity Health | 7 | AA-/Aa3 | 267,952 | 166,067 | — |  | 8,156 | 442,175 |  | 1.9 | %
Medstar Health | 45 | A/A2 | 241,739 | — |  | — |  | — |  | 241,739 |  | 1.8 | %
UCHealth | 46 | AA/Aa3 | — |  | 298,093 | 33,850 | 18,599 | 350,542 |  | 1.7 | %
MultiCare Health System | 82 | AA-/Aa3 | 154,452 | 84,348 | — |  | — |  | 238,800 |  | 1.7 | %
Inova Health System | 70 | AA+/Aa2 | 262,121 | — |  | — |  | — |  | 262,121 |  | 1.6 | %
Other (31 credit rated systems) |  |  | 1,654,302 | 1,768,429 | 231,369 | 297,986 | 3,952,086 |  | 19.2 | %
Subtotal - credit rated 7 |  |  | 9,991,874 | 4,538,260 | 1,467,315 | 1,081,533 | 17,078,982 |  | 97.3 | %
Other non-credit rated 8 |  |  | 28,649 | — |  | 30,542 | 103,259 | 162,450 |  | 0.1 | %
Other non-associated 9 |  |  | — |  | — |  | — |  | 248,118 | 248,118 |  | 2.6 | %
Total |  |  | 10,020,523 | 4,538,260 | 1,497,857 | 1,432,910 | 17,489,550 |  | 100.0 | %
% of total |  |  | 57.3 | % | 25.9 | % | 8.6 | % | 8.2 | % |  |

1 Includes joint venture properties at total square feet. Excludes construction in progress and assets classified as held for sale.
2 Includes buildings located on-campus, adjacent and off-campus that are anchored by healthcare systems or located within two miles of a hospital campus.
3 Ranked by revenue based on Modern Healthcare's Healthcare Systems Financials Database.
4 The Company defines an adjacent property as being no more than 0.25 miles from a hospital campus.
5 Includes off campus buildings where health systems lease 20% or more of the property.
6 Consistent with the methodology used on the MOB Portfolio Comparison page in the Company's Investor Presentation; assumes that any off campus building within two miles from a hospital campus is associated with that health system.
7 Based on square footage, 93% is associated with an investment-grade rated healthcare provider.
8 Includes four properties associated with a hospital system that is not credit rated.
9 Includes off campus buildings that are not anchored by a health system, and are more than two miles from a hospital campus.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 17

Top Tenants 1
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED

TENANT | SYSTEM RANK 2 | CREDIT RATING | # OF ASSOCIATED PROPERTIES | # OF LEASES |  |  |  | LEASED SQUARE FEET | % OF TOTAL LEASED |  | % OF TTM REVENUE |
Baylor Scott & White Health | 21 | AA-/Aa3 | 20 | 148 |  |  |  | 1,049,938 | 6.5 | % |  | 7.2 | % |
Atrium Health | 16 | AA-/Aa3 | 15 | 73 |  |  |  | 659,045 | 4.1 | % |  | 3.8 | % |
CommonSpirit Health | 4 | A-/Baa1 | 14 | 85 |  |  |  | 541,818 | 3.3 | % |  | 3.3 | % |
Ascension Health | 3 | AA+/Aa2 | 9 | 62 |  |  |  | 358,697 | 2.2 | % |  | 2.8 | % |
UW Medicine (Seattle) | 91 | AA+/Aaa | 6 | 28 |  |  |  | 292,712 | 1.8 | % |  | 2.7 | % |
Indiana University Health | 26 | AA/Aa2 | 4 | 70 |  |  |  | 451,670 | 2.8 | % |  | 2.6 | % |
WellStar Health System | 75 | A/A2 | 11 | 57 |  |  |  | 379,696 | 2.3 | % |  | 2.2 | % |
Baptist Memorial Health Care | 89 | BBB+/-- | 9 | 52 |  |  |  | 354,671 | 2.2 | % |  | 2.1 | % |
Proliance Surgeons | — | - | 8 | 21 |  |  |  | 177,435 | 1.1 | % |  | 1.6 | % |
Palomar Health | 271 | BBB/Ba1 | 1 | 1 |  |  |  | 160,394 | 1.0 | % |  | 1.2 | % |
Trinity Health | 7 | AA-/Aa3 | 4 | 37 |  |  |  | 207,095 | 1.3 | % |  | 1.1 | % |
Bon Secours Mercy Health | 22 | A+/A1 | 6 | 42 |  |  |  | 195,787 | 1.2 | % |  | 1.1 | % |
Medstar Health | 45 | A/A2 | 3 | 57 |  |  |  | 157,761 | 1.0 | % |  | 1.1 | % |
Tenet Healthcare | 6 | B/B2 | 9 | 20 |  |  |  | 146,087 | 0.9 | % |  | 1.1 | % |
MultiCare Health System | 82 | AA-/Aa3 | 5 | 18 |  |  |  | 150,201 | 0.9 | % |  | 0.9 | % |
Inova Health | 70 | AA+/Aa2 | 4 | 11 |  |  |  | 117,184 | 0.7 | % |  | 0.9 | % |
Providence St. Joseph Health | 5 | AA-/Aa3 | 5 | 24 |  |  |  | 103,752 | 0.6 | % |  | 0.9 | % |
Eating Recovery Center | — | - | 5 | 8 |  |  |  | 113,082 | 0.7 | % |  | 0.8 | % |
Hawaii Pacific Health | 181 | --/A1 | 3 | 39 |  |  |  | 97,735 | 0.6 | % |  | 0.8 | % |
DaVita | — | BB/Ba2 | 15 | 18 |  |  |  | 132,339 | 0.8 | % |  | 0.8 | % |
Kaiser Permanente | 2 | AA-/-- | 5 | 11 |  |  |  | 126,734 | 0.8 | % |  | 0.8 | % |
UCHealth | 46 | AA/Aa3 | 5 | 8 |  |  |  | 135,353 | 0.8 | % |  | 0.8 | % |
US Oncology | — | BBB+ | 7 | 13 |  |  |  | 118,136 | 0.7 | % |  | 0.8 | % |
USPI 3 | — | B/B2 | 5 | 10 |  |  |  | 111,538 | 0.7 | % |  | 0.7 | % |
Labcorp of America | — | BBB/Baa2 | 24 | 26 |  |  |  | 185,430 | 1.1 | % |  | 0.7 | % |
Overlake Health System | 291 | A/A2 | 2 | 8 |  |  |  | 73,676 | 0.5 | % |  | 0.7 | % |
GSA (U.S. Govt) | — | AA+/Aaa | 6 | 13 |  |  |  | 169,524 | 1.0 | % |  | 0.7 | % |
HCA Healthcare | 1 | BB+/Baa3 | 9 | 18 |  |  |  | 98,104 | 0.6 | % |  | 0.7 | % |
Memorial Hermann Health | 39 | A+/A1 | 2 | 2 |  |  |  | 99,874 | 0.6 | % |  | 0.6 | % |
Allina Health | 57 | AA-/Aa3 | 3 | 15 |  |  |  | 108,207 | 0.7 | % |  | 0.6 | % |
Top 30 tenants |  |  |  | 995 |  |  |  | 7,073,675 |  | 43.5 | % |  | 46.1 | % |
Total investment-grade tenants 4 |  |  | 1,074 |  |  |  | 7,277,956 |  | 45.0 | % |  | 45.9 | % |

1 Includes joint venture properties and excludes construction in progress and assets classified as held for sale.
2 Ranked by revenue based on Modern Healthcare's Healthcare Systems Financials Database.
3 As of June 30, 2022, Tenet Health owns approximately 95% of USPI.
4 Includes affiliates of investment grade tenants.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 18

MOB Proximity to Hospital 1, 2
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED

MEDICAL OFFICE BUILDINGS BY LOCATION |  |  |  |  |  |
|  |  | CONSOLIDATED | JOINT VENTURE | TOTAL |
On campus |  |  | 58.5 | % | 38.3 | % | 57.3 | % |
Adjacent to campus 3 |  |  | 26.5 | % | 17.3 | % | 26.0 | % |
Total on/adjacent |  |  | 85.0 | % | 55.6 | % | 83.3 | % |
Off campus - anchored by health system 4 |  |  | 8.4 | % | 11.7 | % | 8.6 | % |
Off campus |  |  | 6.6 | % | 32.7 | % | 8.1 | % |
|  |  | 100.0 | % | 100.0 | % | 100.0 | % |
Square feet |  |  | 16,435,777 | 1,053,773 | 17,489,550 |
% of total |  |  | 94.0 | % | 6.0 | % | 100.0 | % |

DISTANCE TO HOSPITAL CAMPUS
|  |  |  |  |  |  |  | GROUND LEASE PROPERTIES
GREATER THAN | LESS THAN OR EQUAL TO | CAMPUS PROXIMITY | # OF PROPERTIES | SQUARE FEET | % OF TOTAL | CUMULATIVE % |  | # OF PROPERTIES | SQUARE FEET | % OF TOTAL
| 0.00 | On campus | 122 | 10,020,523 | 57.3 | % | 57.3 | % |  | 90 | 7,864,395 | 88.0 | %
0.00 | 250 yards | Adjacent 3 | 56 | 2,792,214 | 16.0 | % | 73.3 | % |  | 2 | 128,717 | 1.4 | %
250 yards | 0.25 miles | 37 | 1,746,046 | 10.0 | % | 83.3 | % | 5 | 191,966 | 2.1 | %
0.25 miles | 0.50 | Off campus | 6 | 405,857 | 2.3 | % | 85.6 | % |  | 1 | 124,925 | 1.4 | %
0.50 | 1.00 | 10 |  | 628,422 | 3.6 | % | 89.2 | % | — |  | — |  | — | %
1.00 | 2.00 | 19 | 943,123 | 5.4 | % | 94.6 | % | 6 | 426,138 | 4.8 | %
2.00 | 5.00 | 13 | 617,648 | 3.5 | % | 98.1 | % | — |  | — |  | — | %
5.00 | 10.00 | 3 | 205,631 | 1.2 | % | 99.3 | % | 3 | 205,631 | 2.3 | %
10.00 |  | 3 |  | 130,086 | 0.7 | % | 100.0 | % | — |  | — |  | — | %
Total |  |  | 269 |  | 17,489,550 | 100.0 | % |  |  | 107 |  | 8,941,772 | 100.0 | %

1 Includes joint venture properties and excludes construction in progress and assets classified as held for sale.
2 Proximity to hospital campus includes acute care hospitals with inpatient beds. The Company does not consider inpatient rehab hospitals (IRFs), skilled nursing facilities (SNFs) or long-term acute care hospitals (LTACHs) to be hospital campuses for distance calculations.
3 The Company defines an adjacent property as being no more than 0.25 miles from a hospital campus.
4 Includes buildings where health systems lease 20% or more of the property.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 19

Lease Maturity, Lease & Building Size 1
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED

LEASE MATURITY SCHEDULE |  |  |  |  |
| MULTI-TENANT | SINGLE-TENANT | TOTAL
| # OF LEASES | SQUARE FEET | % OF SQUARE FEET | # OF LEASES | SQUARE FEET | % OF SQUARE FEET | # OF LEASES | SQUARE FEET | % OF TOTAL SQUARE FEET | % OF BASE REVENUE 2
2022 | 467 | 1,506,015 | 9.9 | % | — |  | — |  | — | % | 467 | 1,506,015 | 9.3 | % | 9.4 | %
2023 | 639 | 2,301,975 | 15.1 | % | — |  | — |  | — | % | 639 | 2,301,975 | 14.2 | % | 14.5 | %
2024 | 677 | 2,739,360 | 18.0 | % | 1 |  | 63,000 |  | 6.8 | % | 678 | 2,802,360 | 17.3 | % | 17.1 | %
2025 | 551 | 2,141,380 | 14.0 | % | 3 |  | 114,022 |  | 12.3 | % | 554 | 2,255,402 | 14.0 | % | 14.1 | %
2026 | 450 | 1,544,074 | 10.1 | % | 1 |  | 83,318 |  | 9.0 | % | 451 | 1,627,392 | 10.1 | % | 9.7 | %
2027 | 326 | 1,260,578 | 8.3 | % | 1 |  | 156,245 |  | 16.9 | % | 327 | 1,416,823 | 8.8 | % | 9.8 | %
2028 | 213 | 1,024,150 | 6.7 | % | 1 |  | 18,000 |  | 2.0 | % | 214 | 1,042,150 | 6.4 | % | 6.5 | %
2029 | 153 | 801,104 | 5.2 | % | 3 |  | 147,395 | 16.0 | % | 156 | 948,499 | 5.9 | % | 6.0 | %
2030 | 132 | 544,187 | 3.6 | % | 2 |  | 141,928 | 15.4 | % | 134 | 686,115 | 4.2 | % | 3.8 | %
2031 | 178 | 666,546 | 4.3 | % | — |  | — |  | — | % | 178 | 666,546 | 4.1 | % | 4.1 | %
Thereafter | 132 | 727,084 | 4.8 | % | 3 |  | 199,822 | 21.6 | % | 135 | 926,906 | 5.7 | % | 5.0 | %
Total leased | 3,918 | 15,256,453 | 88.0 | % | 15 |  | 923,730 | 100.0 | % | 3,933 | 16,180,183 | 88.6 | % | 100.0 | %
Total building |  | 17,342,815 | 100.0 | % |  | 923,730 | 100.0 | % |  | 18,266,545 | 100.0 | % |
WALTR (months) 3 | 44.0 |  |  | 82.9 |  |  | 46.2 |  |
WALT (months) 3 | 87.1 |  |  | 155.8 |  |  | 91.0 |  |

# OF LEASES BY SIZE |  | BY BUILDING SIZE
LEASED SQUARE FEET | MULTI-TENANT 4 | SINGLE-TENANT |  | BUILDING SQUARE FEET | % OF TOTAL | TOTAL SQUARE FOOTAGE | AVERAGE SQUARE FEET | # OF PROPERTIES
0 - 2,500 | 2,135 |  | — |  |  | >100,000 | 35.6 | % | 6,512,911 | 144,731 | 45
2,501 - 5,000 | 950 |  | 1 |  |  | <100,000 and >75,000 | 24.4 | % | 4,458,344 | 85,737 | 52
5,001 - 7,500 | 326 |  | — |  |  | <75,000 and >50,000 | 18.5 | % | 3,371,001 | 62,426 | 54
7,501 - 10,000 | 167 |  | — |  |  | <50,000 and >25,000 | 17.5 | % | 3,200,959 | 38,107 | 84
10,001 + | 340 |  | 14 |  |  | <25,000 | 4.0 | % | 723,330 | 17,642 | 41
Total Leases | 3,918 |  | 15 |  |  | Total | 100.0 | % | 18,266,545 | 66,183 | 276

1 Includes joint venture properties and excludes land held for development, construction in progress, corporate property and assets classified as held for sale.
2 Represents the current annualized minimum rents on in-place leases, excluding the impact of potential lease renewals and straight-line rent.
3 WALTR = weighted average lease term remaining; WALT = weighted average lease term.
4 The average lease size in the multi-tenant portfolio is 3,894 square feet.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 20

Historical Occupancy 1
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED

SAME STORE PROPERTIES |  |  |  |  |  |  |  |  |  |
| 2Q 2022 | 1Q 2022 |  | 4Q 2021 | 3Q 2021 | 2Q 2021 | 1Q 2021 |  |  |
Multi-tenant |  |  |  |  |  |  |  |  |  |
Number of properties | 173 | 173 |  | 170 | 167 | 163 | 156 |  |  |
Total building square feet | 12,871,738 | 12,871,738 |  | 12,793,809 | 12,635,054 | 12,510,863 | 12,190,136 |  |  |
Period end % occupied | 88.7 | % | 88.7 | % |  | 88.2 | % | 87.7 | % | 87.5 | % | 87.9 | % |  |  |
Single-tenant |  |  |  |  |  |  |  |  |  |
Number of properties | 8 | 8 |  | 8 | 11 | 11 | 11 |  |  |
Total building square feet | 634,270 | 634,270 |  | 634,270 | 791,198 | 791,198 | 791,198 |  |  |
Period end % occupied | 100.0 | % | 100.0 | % |  | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % |  |  |
Total same store properties |  |  |  |  |  |  |  |  |  |
Number of properties | 181 | 181 |  | 178 | 178 | 174 | 167 |  |  |
Total building square feet | 13,506,008 | 13,506,008 |  | 13,428,079 | 13,426,252 | 13,302,061 | 12,981,334 |  |  |
Period end % occupied | 89.3 | % | 89.2 | % |  | 88.8 | % | 88.4 | % | 88.3 | % | 88.6 | % |  |  |
PROPERTIES NOT IN SAME STORE |  |  |  |  |  |  |  |  |
| 2Q 2022 | 1Q 2022 |  | 4Q 2021 | 3Q 2021 | 2Q 2021 | 1Q 2021 |  |  |
Acquisitions 2 |  |  |  |  |  |  |  |  |  |
Number of properties | 67 | 54 |  | 57 | 49 | 44 | 45 |  |  |
Total building square feet | 2,947,903 | 2,588,197 |  | 2,742,579 | 2,396,693 | 2,062,568 | 2,091,663 |  |  |
Period end % occupied | 91.1 | % | 90.0 | % |  | 89.7 | % | 89.8 | % | 91.8 | % | 89.8 | % |  |  |
Development completions |  |  |  |  |  |  |  |  |  |
Number of properties | 1 | 1 |  | 2 | 2 | 2 | 2 |  |  |
Total building square feet | 110,883 | 110,883 |  | 261,914 | 261,914 | 261,914 | 261,914 |  |  |
Period end % occupied | 98.9 | % | 98.0 | % |  | 71.5 | % | 72.3 | % | 64.5 | % | 64.5 | % |  |  |
% leased | 98.9 | % | 98.0 | % |  | 82.5 | % | 82.5 | % | 75.9 | % | 75.9 | % |  |  |
Redevelopment 3 |  |  |  |  |  |  |  |  |  |
Number of properties | 6 | 6 |  | 5 | 6 | 7 | 9 |  |  |
Total building square feet | 647,978 | 647,978 |  | 587,912 | 668,889 | 714,437 | 741,798 |  |  |
Period end % occupied | 64.6 | % | 65.7 | % |  | 59.7 | % | 54.8 | % | 57.5 | % | 59.7 | % |  |  |
Joint Venture |  |  |  |  |  |  |  |  |  |
Number of properties | 21 | 21 |  | 16 | 10 | 9 | 5 |  |  |
Total building square feet | 1,053,773 | 1,053,773 |  | 839,649 | 611,872 | 587,916 | 384,755 |  |  |
Period end % occupied | 86.5 | % | 87.8 | % |  | 88.2 | % | 88.5 | % | 85.3 | % | 84.3 | % |  |  |
% leased | 86.5 | % | 87.7 | % |  | 88.2 | % | 88.5 | % | 85.3 | % | 84.3 | % |  |  |
TOTAL PROPERTIES |  |  |  |  |  |  |  |  |  |
| 2Q 2022 | 1Q 2022 |  | 4Q 2021 | 3Q 2021 | 2Q 2021 | 1Q 2021 |  |  |
Number of properties | 276 | 263 |  | 258 | 245 | 236 | 228 |  |  |
Total building square feet | 18,266,545 | 17,906,839 |  | 17,860,133 | 17,365,620 | 16,928,896 | 16,461,464 |  |  |
Period end % occupied | 88.6 | % | 88.5 | % |  | 87.7 | % | 87.1 | % | 86.9 | % | 87.0 | % |  |  |

1 Includes joint venture properties, and excludes land held for development, construction in progress, corporate property and assets classified as held for sale.
2 Acquisitions includes properties acquired within the last 8 quarters of the period presented and are excluded from same store.
3 Beginning in the first quarter of 2022, the Company eliminated the use of its reposition grouping. Properties included as redevelopment include approved plans to invest capital greater than normal course capital and tenant improvements. The Company reports the details around these projects on the Investment Activity page. Historical information includes the properties that were classified as reposition.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 21

Occupancy Reconciliation
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
SQUARE FEET

SEQUENTIAL
| PORTFOLIO | SAME STORE
| COUNT | OCCUPIED | TOTAL | % |  | COUNT | OCCUPIED | TOTAL | %
Beginning March 31, 2022 | 263 |  | 15,841,951 |  | 17,906,839 |  | 88.5 | % |  | 181 |  | 12,052,941 |  | 13,506,008 |  | 89.2 | %
Portfolio activity |  |  |  |  |  |  |  |  |
Acquisitions 1 | 13 |  | 338,024 |  | 359,706 |  | 94.0 | % |  | NA | NA | NA | NA
Re/development completions | — |  | — |  | — |  | — | % |  | — |  | — |  | — |  | — | %
Dispositions 2 | — |  | — |  | — |  | — | % |  | — |  | — |  | — |  | — | %
Same store reclassifications |  |  |  |  |  |  |  |  |
Acquisitions | NA | NA | NA | NA |  | — |  | — |  | — |  | — | %
Development completions | NA | NA | NA | NA |  | — |  | — |  | — |  | — | %
Reposition to same store | NA | NA | NA | NA |  | — |  | — |  | — |  | — | %
Same store to redevelopment | NA | NA | NA | NA |  | — |  | — |  | — |  | — | %
| 276 |  | 16,179,975 |  | 18,266,545 |  | 88.6 | % |  | 181 |  | 12,052,941 |  | 13,506,008 |  | 89.2 | %
Leasing activity |  |  |  |  |  |  |  |  |
New leases/expansions | NA | 156,342 |  | NA | NA |  | NA | 118,957 |  | NA | NA
Move-outs/contractions | NA | (156,134) |  | NA | NA |  | NA | (115,055) |  | NA | NA
Net absorption | NA | 208 |  | NA | NA |  | NA | 3,902 |  | NA | NA
Ending June 30, 2022 | 276 |  | 16,180,183 |  | 18,266,545 |  | 88.6 | % |  | 181 |  | 12,056,843 |  | 13,506,008 |  | 89.3 | %
YEAR-OVER-YEAR
| PORTFOLIO | SAME STORE
| COUNT | OCCUPIED | TOTAL | % |  | COUNT | OCCUPIED | TOTAL | %
Beginning June 30, 2021 | 236 |  | 14,717,834 |  | 16,928,896 |  | 86.9 | % |  | 174 |  | 11,743,886 |  | 13,302,061 |  | 88.3 | %
Portfolio activity |  |  |  |  |  |  |  |  |
Acquisitions 1 | 51 |  | 1,820,119 |  | 2,070,596 |  | 87.9 | % |  | NA | NA | NA | NA
Re/development completions | — |  | — |  | — |  | — | % |  | — |  | — |  | — |  | — | %
Dispositions 2 | (11) |  | (480,322) |  | (732,947) |  | 65.5 | % |  | (9) |  | (426,295) |  | (549,178) |  | 77.6 | %
Same store reclassifications |  |  |  |  |  |  |  |  |
Acquisitions | NA | NA | NA | NA |  | 17 |  | 754,142 |  | 870,435 |  | 86.6 | %
Development completions | NA | NA | NA | NA |  | — |  | — |  | — |  | — | %
Reposition to same store | NA | NA | NA | NA |  | 2 |  | 47,747 |  | 74,197 |  | 64.4 | %
Same store to redevelopment | NA | NA | NA | NA |  | (3) |  | (142,527) |  | (191,507) |  | 74.4 | %
| 276 |  | 16,057,631 |  | 18,266,545 |  | 87.9 | % |  | 181 |  | 11,976,953 |  | 13,506,008 |  | 88.7 | %
Leasing activity |  |  |  |  |  |  |  |  |
New leases/expansions | NA | 751,251 |  | NA | NA |  | NA | 529,826 |  | NA | NA
Move-outs/contractions | NA | (628,699) |  | NA | NA |  | NA | (449,936) |  | NA | NA
Net absorption | NA | 122,552 |  | NA | NA |  | NA | 79,890 |  | NA | NA
Ending June 30, 2022 | 276 |  | 16,180,183 |  | 18,266,545 |  | 88.6 | % |  | 181 |  | 12,056,843 |  | 13,506,008 |  | 89.3 | %

1 Includes joint venture properties.
2 Includes properties reclassified as held for sale.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 22

Leasing Statistics 1
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED

SAME STORE 2Q 2022 RENEWALS
| Q2 2022 | TTM |  |
Cash leasing spreads | 3.4 | % | 3.3 | % |  |
Cash leasing spreads distribution |  |  |
< 0% spread | 3.8 | % | 4.1 | % |  |
0-3% spread | — | % | 7.3 | % |  |
3-4% spread | 83.5 | % | 70.0 | % |  |
> 4% spread | 12.7 | % | 18.6 | % |  |
Total | 100.0 | % | 100.0 | % |  |
Tenant retention rate | 78.4 | % | 82.6 | % |  |

AVERAGE IN-PLACE CONTRACTUAL INCREASES 2
| MULTI-TENANT | SINGLE-TENANT | TOTAL
| % INCREASE | % OF BASE RENT |  | % INCREASE | % OF BASE RENT |  | % INCREASE | % OF BASE RENT
Same store | 2.95 | % | 70.5 | % |  | 2.85 | % | 4.6 | % |  | 2.94 | % | 75.2 | %
Acquisitions | 2.76 | % | 20.0 | % |  | 2.30 | % | 2.2 | % |  | 2.71 | % | 22.1 | %
Other 3 | 3.05 | % | 2.7 | % |  | — | % | — | % |  | 3.05 | % | 2.7 | %
Total 2 | 2.91 | % | 93.2 | % |  | 2.68 | % | 6.8 | % |  | 2.89 | % | 100.0 | %
Escalator type |  |  |  |  |  |  |  |
Fixed | 2.89 | % | 97.9 | % |  | 2.55 | % | 90.9 | % |  | 2.87 | % | 97.4 | %
CPI | 3.54 | % | 2.1 | % |  | 3.90 | % | 9.1 | % |  | 3.63 | % | 2.6 | %

TYPE AND OWNERSHIP STRUCTURE
| MULTI-TENANT | SINGLE-TENANT |  | TOTAL
Tenant type |  |  |  |
Hospital | 42.9 | % | 60.9 | % |  | 43.9 | %
Physician and other | 57.1 | % | 39.1 | % |  | 56.1 | %
Lease structure |  |  |  |
Gross | 10.3 | % | — | % |  | 9.7 | %
Modified gross | 30.3 | % | — | % |  | 28.5 | %
Net | 59.4 | % | — | % |  | 56.0 | %
Absolute net 4 | — | % | 100.0 | % |  | 5.8 | %
Ownership type |  |  |  |
Ground lease | 50.8 | % | 31.0 | % |  | 49.8 | %
Fee simple | 49.2 | % | 69.0 | % |  | 50.2 | %

1 Excludes recently acquired or disposed properties, construction in progress, land held for development, corporate property, reposition properties and assets classified as held for sale.
2 Excludes leases with lease terms of one year or less.
3 Includes reposition properties and development completions.
4 Tenant is typically responsible for operating expenses and capital obligations.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 23

NOI Performance 1
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
DOLLARS IN THOUSANDS, EXCEPT PER SQUARE FOOT DATA

SAME STORE CASH NOI
| TTM 2022 |  | 2Q 2022 | 1Q 2022 | 4Q 2021 | 3Q 2021 |  | TTM 2021 |  | 2Q 2021 | 1Q 2021 | 4Q 2020 | 3Q 2020
Revenues | $450,452 |  | $113,674 | $113,954 | $111,158 | $111,666 |  | $437,232 |  | $110,005 | $109,309 | $108,992 | $108,926
Expenses | 171,971 |  | 42,866 | 44,258 | 41,546 | 43,301 |  | 165,785 |  | 41,431 | 41,515 | 41,058 | 41,781
Cash NOI | $278,481 |  | $70,808 | $69,696 | $69,612 | $68,365 |  | $271,447 |  | $68,574 | $67,794 | $67,934 | $67,145
Revenue per occ SF 2 | $37.49 |  | $37.72 | $37.86 | $37.07 | $37.32 |  | $36.40 |  | $36.69 | $36.39 | $36.24 | $36.22
Margin | 61.8 | % |  | 62.3 | % | 61.2 | % | 62.6 | % | 61.2 | % |  | 62.1 | % |  | 62.3 | % | 62.0 | % | 62.3 | % | 61.6 | %
Average occupancy | 89.0 | % |  | 89.3 | % | 89.2 | % | 88.8 | % | 88.6 | % |  | 88.9 | % |  | 88.8 | % | 89.0 | % | 89.1 | % | 89.1 | %
Period end occupancy | 89.3 | % |  | 89.3 | % | 89.2 | % | 89.1 | % | 88.6 | % |  | 89.1 | % |  | 88.7 | % | 88.9 | % | 89.0 | % | 89.1 | %
Number of properties | 181 |  | 181 | 181 | 181 | 181 |  | 181 |  | 181 | 181 | 181 | 181

SAME STORE GROWTH |
| YEAR-OVER-YEAR |
| TTM 2022 |  | 2Q 2022 | 1Q 2022 | 4Q 2021 | 3Q 2021 |
Revenue per occ SF 2 | 3.0 | % |  | 2.8 | % | 4.0 | % | 2.3 | % | 3.0 | % |
Avg occupancy (bps) | +10 |  | +50 | +20 | -30 | -50 |
Revenues | 3.0 | % |  | 3.3 | % | 4.2 | % | 2.0 | % | 2.5 | % |
Base revenue | 2.7 | % |  | 3.5 | % | 3.3 | % | 2.1 | % | 1.9 | % |
Exp recoveries | 4.2 | % |  | 2.5 | % | 7.9 | % | 1.3 | % | 5.1 | % |
Expenses | 3.7 | % |  | 3.5 | % | 6.6 | % | 1.2 | % | 3.6 | % |
Cash NOI | 2.6 | % |  | 3.3 | % | 2.8 | % | 2.5 | % | 1.8 | % |

| EXCLUDING 2020 DEFERRAL RESERVE/REPAYMENT |  |
| YEAR-OVER-YEAR |  |
| TTM 2022 |  | 2Q 2022 | 1Q 2022 | 4Q 2021 | 3Q 2021 |  |
| 3.2 | % |  | 2.8 | % | 4.1 | % | 2.5 | % | 3.3 | % |  |
| +10 |  | +50 | +20 | -30 | -50 |  |
| 3.2 | % |  | 3.4 | % | 4.3 | % | 2.3 | % | 2.8 | % |  |
| 2.9 | % |  | 3.6 | % | 3.4 | % | 2.5 | % | 2.2 | % |  |
| 4.2 | % |  | 2.5 | % | 7.9 | % | 1.3 | % | 5.1 | % |  |
| 3.7 | % |  | 3.5 | % | 6.6 | % | 1.2 | % | 3.6 | % |  |
| 2.8 | % |  | 3.3 | % | 2.9 | % | 2.9 | % | 2.3 | % |  |

TOTAL CASH NOI
| 2Q 2022 | 2Q 2021 | % CHANGE |  | TTM 2022 | TTM 2021 | % CHANGE
Same store cash NOI | $70,808 |  | $68,574 |  | 3.3 | % |  | $278,481 |  | $271,447 |  | 2.6 | %
Redevelopment | 1,235 |  | 1,691 |  | (27.0 | %) |  | 5,979 |  | 6,473 |  | (7.6 | %)
Acquisitions/development completions | 15,496 |  | 5,817 |  | 166.5 | % |  | 45,547 |  | 13,611 |  | 234.7 | %
Dispositions/assets held for sale/other | 87 |  | 2,733 |  | (96.8 | %) |  | 5,147 |  | 14,203 |  | (63.8 | %)
Joint venture property cash NOI | 2,551 |  | 1,035 |  | 146.6 | % |  | 7,144 |  | 1,654 |  | 332.0 | %
Cash NOI | $90,177 |  | $79,850 |  | 12.9 | % |  | $342,298 |  | $307,388 |  | 11.4 | %

1 Excludes recently acquired or disposed properties, development completions, construction in progress, land held for development, corporate property, reposition properties and assets classified as held for sale.
2 Revenue per occ SF is calculated by dividing revenue by the average of the occupied SF for the period provided. Quarterly revenue per occ SF is annualized.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 24

NOI Reconciliations
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
DOLLARS IN THOUSANDS

BOTTOM UP RECONCILIATION |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2Q 2022 | 1Q 2022 | 4Q 2021 | 3Q 2021 |  |  |  | 2Q 2021 | 1Q 2021 | 4Q 2020 | 3Q 2020 |  |  |  |  |  |
Net income (loss) | $6,130 |  | $42,227 |  | $21,607 |  | ($2,066) |  |  |  |  | $23,096 |  | $24,022 |  | ($15,863) |  | $8,230 |  |  |  |  |  |  |
Other income (expense) | 7,479 |  | (29,293) |  | (468) |  | 23,000 |  |  |  |  | (2,223) |  | (5,220) |  | 35,284 |  | 11,969 |  |  |  |  |  |  |
General and administrative expense | 10,540 |  | 11,036 |  | 8,901 |  | 8,207 |  |  |  |  | 8,545 |  | 8,499 |  | 7,206 |  | 7,299 |  |  |  |  |  |  |
Depreciation and amortization expense | 55,731 |  | 54,041 |  | 51,810 |  | 50,999 |  |  |  |  | 49,826 |  | 50,079 |  | 48,104 |  | 47,143 |  |  |  |  |  |  |
Other expenses 1 | 11,034 |  | 9,929 |  | 3,850 |  | 3,193 |  |  |  |  | 2,840 |  | 2,783 |  | 2,919 |  | 2,364 |  |  |  |  |  |  |
Straight-line rent expense | 378 |  | 378 |  | 382 |  | 380 |  |  |  |  | 369 |  | 367 |  | 369 |  | 373 |  |  |  |  |  |  |
Straight-line rent revenue | (1,705) |  | (1,587) |  | (1,227) |  | (1,550) |  |  |  |  | (1,563) |  | (1,461) |  | (1,013) |  | (915) |  |  |  |  |  |  |
Other revenue 2 | (1,961) |  | (2,044) |  | (2,134) |  | (2,043) |  |  |  |  | (2,075) |  | (1,865) |  | (2,145) |  | (1,609) |  |  |  |  |  |  |
Joint venture property cash NOI | 2,551 |  | 2,052 |  | 1,331 |  | 1,210 |  |  |  |  | 1,035 |  | 465 |  | 135 |  | 19 |  |  |  |  |  |  |
Cash NOI | $90,177 |  | $86,739 |  | $84,052 |  | $81,330 |  |  |  |  | $79,850 |  | $77,669 |  | $74,996 |  | $74,873 |  |  |  |  |  |  |
Acquisitions/development completions | (15,496) |  | (12,488) |  | (9,632) |  | (7,931) |  |  |  |  | (5,817) |  | (4,868) |  | (1,955) |  | (971) |  |  |  |  |  |  |
Dispositions/assets held for sale/other | (87) |  | (969) |  | (1,999) |  | (2,092) |  |  |  |  | (2,733) |  | (2,975) |  | (3,437) |  | (5,058) |  |  |  |  |  |  |
Joint venture property cash NOI | (2,551) |  | (2,052) |  | (1,331) |  | (1,210) |  |  |  |  | (1,035) |  | (465) |  | (135) |  | (19) |  |  |  |  |  |  |
Redevelopment | (1,235) |  | (1,534) |  | (1,478) |  | (1,732) |  |  |  |  | (1,691) |  | (1,567) |  | (1,535) |  | (1,680) |  |  |  |  |  |  |
Same store cash NOI | $70,808 |  | $69,696 |  | $69,612 |  | $68,365 |  |  |  |  | $68,574 |  | $67,794 |  | $67,934 |  | $67,145 |  |  |  |  |  |  |
TOP DOWN RECONCILIATION |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2Q 2022 | 1Q 2022 | 4Q 2021 | 3Q 2021 |  |  |  | 2Q 2021 | 1Q 2021 | 4Q 2020 | 3Q 2020 |  |  |  |  |  |
Rental income before rent concessions | $142,073 |  | $139,775 |  | $132,853 |  | $132,971 |  |  |  |  | $129,609 |  | $129,466 |  | $124,537 |  | $124,079 |  |  |  |  |  |  |
Rent concessions | (1,441) |  | (1,286) |  | (1,139) |  | (1,225) |  |  |  |  | (1,123) |  | (1,077) |  | (660) |  | (695) |  |  |  |  |  |  |
Rental income | 140,632 |  | 138,489 |  | 131,714 |  | 131,746 |  |  |  |  | 128,486 |  | 128,389 |  | 123,877 |  | 123,384 |  |  |  |  |  |  |
Parking income | 1,919 |  | 1,753 |  | 2,134 |  | 2,187 |  |  |  |  | 1,880 |  | 1,658 |  | 1,678 |  | 1,764 |  |  |  |  |  |  |
Interest from financing receivable, net | 1,957 |  | 1,930 |  | 1,766 |  | 1,917 |  |  |  |  | 510 |  | — |  | — |  | — |  |  |  |  |  |  |
Exclude straight-line rent revenue | (1,705) |  | (1,587) |  | (1,227) |  | (1,550) |  |  |  |  | (1,563) |  | (1,461) |  | (1,013) |  | (915) |  |  |  |  |  |  |
Exclude other non-cash revenue 3 | (1,142) |  | (1,322) |  | (1,325) |  | (1,261) |  |  |  |  | (1,528) |  | (1,573) |  | (1,820) |  | (1,505) |  |  |  |  |  |  |
Cash revenue | 141,661 |  | 139,263 |  | 133,062 |  | 133,039 |  |  |  |  | 127,785 |  | 127,013 |  | 122,722 |  | 122,728 |  |  |  |  |  |  |
Property operating expense | (57,010) |  | (57,464) |  | (53,032) |  | (55,518) |  |  |  |  | (51,509) |  | (52,215) |  | (50,210) |  | (50,171) |  |  |  |  |  |  |
Exclude non-cash expenses 4 | 2,975 |  | 2,888 |  | 2,691 |  | 2,599 |  |  |  |  | 2,539 |  | 2,406 |  | 2,349 |  | 2,297 |  |  |  |  |  |  |
Joint venture property cash NOI | 2,551 |  | 2,052 |  | 1,331 |  | 1,210 |  |  |  |  | 1,035 |  | 465 |  | 135 |  | 19 |  |  |  |  |  |  |
Cash NOI | $90,177 |  | $86,739 |  | $84,052 |  | $81,330 |  |  |  |  | $79,850 |  | $77,669 |  | $74,996 |  | $74,873 |  |  |  |  |  |  |
Acquisitions/development completions | (15,496) |  | (12,488) |  | (9,632) |  | (7,931) |  |  |  |  | (5,817) |  | (4,868) |  | (1,955) |  | (971) |  |  |  |  |  |  |
Dispositions/assets held for sale/other | (87) |  | (969) |  | (1,999) |  | (2,092) |  |  |  |  | (2,733) |  | (2,975) |  | (3,437) |  | (5,058) |  |  |  |  |  |  |
Joint venture property cash NOI | (2,551) |  | (2,052) |  | (1,331) |  | (1,210) |  |  |  |  | (1,035) |  | (465) |  | (135) |  | (19) |  |  |  |  |  |  |
Redevelopment | (1,235) |  | (1,534) |  | (1,478) |  | (1,732) |  |  |  |  | (1,691) |  | (1,567) |  | (1,535) |  | (1,680) |  |  |  |  |  |  |
Same store cash NOI | $70,808 |  | $69,696 |  | $69,612 |  | $68,365 |  |  |  |  | $68,574 |  | $67,794 |  | $67,934 |  | $67,145 |  |  |  |  |  |  |

1 Includes acquisition and pursuit costs, bad debt, above and below market ground lease intangible amortization, leasing commission amortization, non-cash adjustments for financing receivables and ground lease straight-line rent.
2 Includes management fee income, interest, above and below market lease intangible amortization, lease inducement amortization, lease termination fees, deferred financing cost amortization and principle related to investment in financing receivable and tenant improvement overage amortization.
3 Includes above and below market lease intangibles, lease inducements, lease termination fees, deferred financing cost amortization, financing receivable adjustments, and TI amortization.
4 Includes above and below market ground lease intangible amortization, leasing commission amortization, and ground lease straight-line rent.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 25

NOI Reconciliations
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
DOLLARS IN THOUSANDS

RECONCILIATION OF NOI TO FFO AND NORMALIZED FFO |  |  |  |  |  |  |  |  |
| 2Q 2022 | 1Q 2022 | 4Q 2021 | 3Q 2021 |  |  |  | 2Q 2021 | 1Q 2021 | 4Q 2020 | 3Q 2020
Cash NOI | $90,177 |  | $86,739 |  | $84,052 |  | $81,330 |  |  |  |  | $79,850 |  | $77,669 |  | $74,996 |  | $74,873 |
General and administrative expense | (10,540) |  | (11,036) |  | (8,901) |  | (8,207) |  |  |  |  | (8,545) |  | (8,499) |  | (7,206) |  | (7,299) |
Straight-line rent | 1,705 |  | 1,587 |  | 1,227 |  | 1,550 |  |  |  |  | 1,563 |  | 1,461 |  | 1,013 |  | 915 |
Interest and other income (expense), net | (125) |  | (81) |  | (250) |  | — |  |  |  |  | (262) |  | 500 |  | 140 |  | 74 |
Management fees and other income | 819 |  | 722 |  | 809 |  | 782 |  |  |  |  | 547 |  | 292 |  | 325 |  | 104 |
Other non-cash revenue 1 | 1,142 |  | 1,322 |  | 1,325 |  | 1,261 |  |  |  |  | 1,528 |  | 1,573 |  | 1,820 |  | 1,505 |
Other non-cash expenses 2 | (2,975) |  | (2,888) |  | (2,691) |  | (2,599) |  |  |  |  | (2,539) |  | (2,406) |  | (2,349) |  | (2,297) |
Unconsolidated JV adjustments | (51) |  | 6 |  | 131 |  | 167 |  |  |  |  | 181 |  | 276 |  | (73) |  | (5) |
Debt Covenant EBITDA | $80,152 |  | $76,371 |  | $75,702 |  | $74,284 |  |  |  |  | $72,323 |  | $70,866 |  | $68,666 |  | $67,870 |
Interest expense | (15,543) |  | (13,661) |  | (13,266) |  | (13,334) |  |  |  |  | (13,261) |  | (13,262) |  | (13,618) |  | (14,154) |
Loss on extinguishment of debt | — |  | (1,429) |  | — |  | — |  |  |  |  | — |  | — |  | (21,503) |  | — |
Acquisition and pursuit costs | (1,352) |  | (1,303) |  | (1,152) |  | (974) |  |  |  |  | (670) |  | (744) |  | (939) |  | (440) |
Merger-related costs | (7,085) |  | (6,116) |  | (389) |  | — |  |  |  |  | — |  | — |  | — |  | — |
Leasing commission amortization 3 | 2,683 |  | 2,600 |  | 2,382 |  | 2,294 |  |  |  |  | 2,258 |  | 2,111 |  | 2,033 |  | 1,971 |
Non-real estate depreciation and amortization | (1,080) |  | (983) |  | (937) |  | (903) |  |  |  |  | (885) |  | (879) |  | (886) |  | (899) |
Unconsolidated JV adjustments | — |  | (34) |  | (37) |  | (2) |  |  |  |  | (8) |  | (2) |  | (8) |  | — |
FFO | $57,775 |  | $55,445 |  | $62,303 |  | $61,365 |  |  |  |  | $59,757 |  | $58,090 |  | $33,745 |  | $54,348 |
Acquisition and pursuit costs | 1,352 |  | 1,303 |  | 1,152 |  | 974 |  |  |  |  | 670 |  | 744 |  | 939 |  | 440 |
Merger-related costs | 7,085 |  | 6,116 |  | 389 |  | — |  |  |  |  | — |  | — |  | — |  | — |
Lease intangible amortization | 584 |  | 309 |  | 192 |  | 48 |  |  |  |  | (6) |  | (72) |  | (4) |  | (35) |
Significant non-recurring legal fees/forfeited earnest money received | 140 |  | 91 |  | 465 |  | — |  |  |  |  | — |  | (500) |  | — |  | — |
Debt financing costs | — |  | 1,429 |  | — |  | — |  |  |  |  | 283 |  | — |  | 21,920 |  | — |
Unconsolidated JV normalizing items | 83 |  | 95 |  | 90 |  | 54 |  |  |  |  | 55 |  | 27 |  | 16 |  | — |
Normalized FFO | $67,019 |  | $64,788 |  | $64,591 |  | $62,441 |  |  |  |  | $60,759 |  | $58,289 |  | $56,616 |  | $54,753 |

1 Includes above and below market lease intangibles, interest income related to sales-type leases, lease inducements, lease termination fees, deferred financing cost amortization and principle related to investment in financing receivable and TI amortization.
2 Includes above and below market ground lease intangible amortization, leasing commission amortization, and ground lease straight-line rent.
3 Leasing commission amortization is included in the real estate depreciation and amortization add-back for FFO.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 26

EBITDA Reconciliations
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
DOLLARS IN THOUSANDS

RECONCILIATION OF EBITDA |  |  |  |  |  |
| TTM |  | 2Q 2022 | 1Q 2022 | 4Q 2021 | 3Q 2021
Net income (loss) | $67,898 |  |  | $6,130 |  | $42,227 |  | $21,607 |  | ($2,066) |
Interest expense | 55,804 |  |  | 15,543 |  | 13,661 |  | 13,266 |  | 13,334 |
Depreciation and amortization | 212,581 |  |  | 55,731 |  | 54,041 |  | 51,810 |  | 50,999 |
Unconsolidated JV depreciation and amortization | 8,550 |  |  | 2,807 |  | 2,369 |  | 1,816 |  | 1,558 |
EBITDA | $344,833 |  |  | $80,211 |  | $112,298 |  | $88,499 |  | $63,825 |
Leasing commission amortization | 9,959 |  |  | 2,683 |  | 2,600 |  | 2,382 |  | 2,294 |
(Gain) loss on sales of real estate properties | (69,361) |  |  | (8,496) |  | (44,784) |  | (14,895) |  | (1,186) |
Impairments on real estate assets | 11,164 |  |  | — |  | (25) |  | 520 |  | 10,669 |
EBITDAre 1 | $296,595 |  |  | $74,398 |  | $70,089 |  | $76,506 |  | $75,602 |
EBITDA | $344,833 |  |  | $80,211 |  | $112,298 |  | $88,499 |  | $63,825 |
Acquisition and pursuit costs | 4,781 |  |  | 1,352 |  | 1,303 |  | 1,152 |  | 974 |
Merger-related costs | 13,590 |  |  | 7,085 |  | 6,116 |  | 389 |  | — |
(Gain) on sales of real estate properties | (69,361) |  |  | (8,496) |  | (44,784) |  | (14,895) |  | (1,186) |
Impairments on real estate assets | 11,164 |  |  | — |  | (25) |  | 520 |  | 10,669 |
Loss on extinguishment of debt | 1,429 |  |  | — |  | 1,429 |  | — |  | — |
Unconsolidated JV adjustments | 73 |  |  | — |  | 34 |  | 37 |  | 2 |
Debt Covenant EBITDA | $306,509 |  |  | $80,152 |  | $76,371 |  | $75,702 |  | $74,284 |
Leasing commission amortization | 9,959 |  |  | 2,683 |  | 2,600 |  | 2,382 |  | 2,294 |
Lease intangible amortization | 1,133 |  |  | 584 |  | 309 |  | 192 |  | 48 |
Acquisition/disposition timing impact 2 | 6,142 |  |  | 2,243 |  | 1,060 |  | 2,058 |  | 781 |
Stock based compensation | 12,139 |  |  | 3,356 |  | 3,699 |  | 2,546 |  | 2,538 |
Unconsolidated JV adjustments | 248 |  |  | 83 |  | 61 |  | 52 |  | 52 |
Adjusted EBITDA | $336,130 |  |  | $89,101 |  | $84,100 |  | $82,932 |  | $79,997 |

1 Earnings before interest, taxes, depreciation and amortization for real estate ("EBITDAre") is an operating performance measure adopted by NAREIT. NAREIT defines EBITDAre equal to “net income (computed in accordance with GAAP) plus interest expense, income tax expense, depreciation and amortization, impairments and minus gains on the disposition of depreciated property.”
2 Adjusted to reflect quarterly EBITDA from properties acquired or disposed in the quarter.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 27

Components of Net Asset Value
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA

CASH NOI BY PROPERTY TYPE
| 2Q 2022 |
ASSET TYPE | SAME STORE 1 | ACQ./DEV. COMPLETIONS 2 | JOINT VENTURE | REDEVELOPMENT | TIMING ADJUSTMENTS 3 | ADJUSTED CASH NOI |  | ANNUALIZED ADJUSTED NOI
MOB/outpatient | $66,397 |  | $15,496 |  | $2,551 |  | $1,235 |  | $1,128 |  | $86,807 |  |  | $347,228 |
Inpatient/Surgical | 3,122 |  | — |  | — |  | — |  | — |  | 3,122 |  |  | 12,488 |
Office | 1,289 |  | — |  | — |  | — |  | — |  | 1,289 |  |  | 5,156 |
Total Cash NOI | $70,808 |  | $15,496 |  | $2,551 |  | $1,235 |  | $1,128 |  | $91,218 |  |  | $364,872 |

DEVELOPMENT PROPERTIES |  |  | TOTAL SHARES OUTSTANDING
Land held for development | $22,952 |  |  | As of June 30, 2022 6 | 151,636,917
Re/development budget | 98,300 |  |  |  |  |
| $121,252 |  |  |  |  |
OTHER ASSETS |  |  |  |  |
Cash and other assets 4 | $149,667 |  |  |  |  |
DEBT |  |  |  |  |
Unsecured credit facility | $490,500 |  |  |  |  |
Unsecured term loan due 2024 | 200,000 |  |  |  |  |
Unsecured term loan due 2026 | 150,000 |  |  |  |  |
Senior notes | 1,150,000 |  |  |  |  |
Mortgage notes payable | 85,440 |  |  |  |  |
Remaining re/development funding | 71,346 |  |  |  |  |
Other liabilities 5 | 97,285 |  |  |  |  |
| $2,244,571 |  |  |  |  |

1 See NOI Performance schedule on page 24 for details on same store NOI.
2 Adjusted to reflect quarterly NOI from properties acquired or stabilized re/developments completed during the full eight quarter period that are not included in same store NOI.
3 Timing adjustments include current quarter acquisitions of $1.0 million as well as re/development completion adjustments of $0.1 million to reflect full quarterly stabilized NOI.
4 Includes cash of $34.3 million, prepaid assets of $62.9 million, accounts receivable of $17.9 million, and prepaid ground leases of $21.1 million. In addition, includes the Company's occupied portion of its corporate headquarters of $13.5 million.
5 Includes only liabilities that are expected to reduce future cash or NOI and that are currently producing non-cash benefits to NOI. Included are accounts payable and accrued liabilities of $84.2 million, security deposits of $12.2 million, and deferred operating expense reimbursements of $0.9 million.
6 Total shares outstanding do not reflect the shares associated with forward equity contracts. As of June 30, 2022, the Company had no remaining shares to be settled under forward equity contracts.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 28

Pro forma Components of Net Asset Value 1
ALL DATA IS PRESENTED ON A PRE-MERGER BASIS, UNLESS OTHERWISE NOTED
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA

CASH NOI BY PROPERTY TYPE
| 2Q 2022 |  |  |
ASSET TYPE | HR 1 | HTA | TOTAL | ASSET SALES/JVs 2 |  | ANNUALIZED ADJUSTED NOI
NOI | $90,090 |  | $133,064 |  | $223,154 |  | $— |  |  | $892,616 |
Timing Adjustments | 1,128 |  | (731) |  | 397 |  | (13,484) |  |  | (52,348) |
Total Cash NOI | $91,218 |  | $132,333 |  | $223,551 |  | ($13,484) |  |  | $840,268 |

| AS OF JUNE 30, 2022
| HR | HTA | PROFORMA
Development properties |  |  |
Land held for development | $22,952 |  | $41,695 |  | $64,647 |
Re/development | 98,300 |  | 347,071 |  | 445,371 |
| $121,252 |  | $388,766 |  | $510,018 |
Other assets |  |  |
Cash and other assets | $149,667 |  | $165,821 |  | $315,488 |
Investment in unconsolidated joint venture 3 | NA | 62,070 |  | 62,070 |
| $149,667 |  | $227,891 |  | $377,558 |
Debt |  |  |
Unsecured credit facility | $490,500 |  | $65,000 |  | $555,500 |
Unsecured term loans | 350,000 |  | 500,000 |  | 850,000 |
Senior notes | 1,150,000 |  | 2,550,000 |  | 3,700,000 |
Mortgage notes payable | 85,440 |  | — |  | 85,440 |
Remaining re/development funding | 71,346 |  | NA | 71,346 |
Transaction costs | NA | NA | 150,000 |
Other liabilities | 97,285 |  | 161,068 |  | 258,353 |
| $2,244,571 |  | $3,276,068 |  | $5,670,639 |
Total shares outstanding (including OP units) |  |  |
As of June 30, 2022 | 151,636,917 |  | 233,124,882 |  | 384,761,799 |
Stock Price |  |  |
As of August 5, 2022 |  |  | $25.12 |
Implied cap rate |  |  |
As of August 5, 2022 |  |  | 5.82 | %

1 The NAV schedule reflects each company's historical calculations. Refer to the individual company's supplemental information for additional detail.
2 Assumes $1.1 billion of proceeds from asset sales and joint ventures at a 4.8% cap rate.
3 HR's NOI includes the Company's prorata share of unconsolidated joint ventures.

HEALTHCARE REALTY | 2Q 2022 SUPPLEMENTAL INFORMATION 29