Fourth Quarter 2024 Supplemental Disclaimers Forward-Looking Statements Certain statements contained in this supplemental, filed in conjunction with the Fourth Quarter 2024 and Full Year 2024 Earnings Press Release, including statements relating to American Healthcare REIT, Inc.'s (the "Company") expectations regarding its interest expense savings, balance sheet, net income or loss per diluted share, FFO per diluted share, NFFO per diluted share, total portfolio Same-Store NOI growth, segment-level Same-Sto ...

Core Viewpoint - American Healthcare REIT (AHR) reported quarterly funds from operations (FFO) of $0.40 per share, meeting the Zacks Consensus Estimate, and showing an increase from $0.38 per share a year ago [1] - The company posted revenues of $542.74 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 9.17%, but up from $482.58 million year-over-year [2] Financial Performance - AHR's FFO for the previous quarter was $0.36 per share, exceeding the expected $0.32, resulting in a surprise of 12.50% [1] - Over the last four quarters, AHR has surpassed consensus FFO estimates two times and topped consensus revenue estimates twice [2] Market Performance - AHR shares have increased approximately 4.6% since the beginning of the year, outperforming the S&P 500's gain of 1.3% [3] - The current consensus FFO estimate for the upcoming quarter is $0.38 on revenues of $600.34 million, and for the current fiscal year, it is $1.68 on revenues of $2.45 billion [7] Industry Outlook - The REIT and Equity Trust - Other industry, to which AHR belongs, is currently ranked in the bottom 47% of over 250 Zacks industries, indicating potential challenges ahead [8] - The outlook for the industry can significantly impact AHR's stock performance, as historical data shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

Core Insights - American Healthcare REIT, Inc. reported strong earnings and attractive Same-Store NOI growth for 2024, with expectations for continued growth in 2025 driven by robust supply and demand fundamentals in the healthcare real estate sector [3][4][15]. Financial Performance - For Q4 2024, Same-Store NOI growth was 21.6%, with significant contributions from the ISHC segment at 28.0% and SHOP segment at 66.6% compared to Q4 2023 [5][7]. - For the full year 2024, Same-Store NOI growth was 17.7%, with ISHC at 23.8% and SHOP at 52.8% compared to 2023 [5][7]. - The company reported a GAAP net loss of $(31.8) million for Q4 2024 and $(37.8) million for the full year 2024, translating to $(0.21) and $(0.29) per diluted share, respectively [7][15]. - Normalized Funds from Operations (NFFO) were reported at $0.40 for Q4 2024 and $1.41 for the full year 2024 [7]. Transactional Activity - The company acquired a SHOP asset in Atlanta for approximately $7.5 million in Q4 2024 and has plans to acquire two additional SHOP assets for about $70.5 million in 2025 [6][8]. - In 2024, the company raised approximately $1.36 billion through equity offerings and an ATM program, with $120.2 million raised in Q4 2024 alone [7][13]. Guidance for 2025 - The company issued guidance for 2025, projecting Same-Store NOI growth of 7.0% to 10.0% and NFFO per diluted share between $1.56 and $1.60 [7][15]. - Segment-level guidance includes ISHC growth of 10.0% to 12.0%, SHOP growth of 18.0% to 22.0%, and a slight decline in Outpatient Medical and Triple-Net Leased Properties [15]. Capital Structure and Balance Sheet - As of December 31, 2024, total consolidated indebtedness was $1.69 billion, with a Net Debt-to-Annualized Adjusted EBITDA ratio of 4.3x, improved from 8.5x in 2023 [12][14]. - The company had approximately $984.3 million in total liquidity, including cash and undrawn credit lines [12]. Portfolio and Asset Management - The company focused on senior housing investments, which significantly contributed to its portfolio's performance in 2024 [4][5]. - New ISHC development projects are planned for 2025, with expected construction costs of approximately $136.6 million [9].

Core Points - American Healthcare REIT, Inc. will celebrate its one-year anniversary on the New York Stock Exchange by ringing The Opening Bell on February 10, 2025 [1][2] - The company's stock price has increased by 145% since its debut, reaching $29.40 per share, with a market capitalization of $4.5 billion as of February 6, 2025 [2] - As of January 31, 2025, American Healthcare REIT is the 8th largest healthcare REIT in the United States based on market capitalization [2] Company Overview - American Healthcare REIT, Inc. is a real estate investment trust that focuses on acquiring, owning, and operating a diversified portfolio of clinical healthcare real estate [3] - The company's primary focus areas include senior housing communities, skilled nursing, and outpatient medical buildings across the United States, the United Kingdom, and the Isle of Man [3]

Company Overview - American Healthcare REIT, Inc. (NYSE: AHR) is a real estate investment trust that focuses on acquiring, owning, and operating a diversified portfolio of clinical healthcare real estate, primarily targeting senior housing communities, skilled nursing, and outpatient medical buildings across the United States, the United Kingdom, and the Isle of Man [3]. Leadership Recognition - Danny Prosky, President and CEO of AHR, has been named Healthcare Real Estate Insights™ ("HREI") 2024 Executive of the Year, highlighting his significant contributions to the healthcare REIT sector [1][2]. - The board of AHR expressed pride in Prosky's recognition, emphasizing his central role in developing the corporate vision since the company's inception and their confidence in his leadership for future growth [2]. Industry Context - HREI, established in 2003, is the first and only national media platform dedicated to healthcare real estate development, financing, and investment, providing comprehensive industry coverage [4].

Group 1 - The leader of the investing group High Yield Landlord shares a real-money REIT portfolio and transactions in real-time, featuring three portfolios: core, retirement, and international [1] - Jussi Askola, President of Leonberg Capital, is a value-oriented investment expert who consults hedge funds, family offices, and private equity firms on REIT investing [1] - Askola has authored award-winning academic papers on REIT investing and has passed all three CFA exams, establishing relationships with top REIT executives [1]

Group 1 - The articles emphasize that past performance does not guarantee future results, highlighting the speculative nature of investing in publicly held securities [2][3] - There is a clear disclaimer that no specific investment advice or recommendations are provided, and readers are encouraged to conduct their own due diligence before making investment decisions [2][3] - The content is presented as an information source for investors capable of making their own decisions, indicating that the information is impersonal and not tailored to individual investment needs [2][3] Group 2 - The articles mention that analysts may have beneficial long positions in certain stocks, which could indicate potential biases in their analysis [1] - It is noted that the views expressed may not reflect the opinions of the platforms as a whole, suggesting a diversity of perspectives among contributors [3] - The articles clarify that the authors may not be licensed or certified by any regulatory body, which could impact the credibility of the investment insights provided [3]

Core Points - American Healthcare REIT, Inc. will release its fourth quarter 2024 earnings on February 27, 2025, after market close [1] - A conference call to discuss the earnings will take place on February 28, 2025, at 10:00 a.m. Pacific Time [2] - The company operates a diversified portfolio of clinical healthcare real estate properties, focusing on senior housing and skilled nursing facilities [3] Earnings Release - The earnings release for Q4 2024 will be available immediately following the release to wire services [2] - Supplemental data will also be accessible in the Investor Relations section of the company's website [2] Conference Call Details - The conference call will include a review of Q4 2024 results, recent events, and the outlook for 2025 [2] - Investors can join the call via a provided webcast link or by dialing specific phone numbers [2] Company Overview - American Healthcare REIT, Inc. is a self-managed real estate investment trust [3] - The company focuses on acquiring, owning, and operating healthcare-related properties in the U.S., U.K., and Isle of Man [3]

Core Points - American Healthcare REIT, Inc. declared a quarterly distribution of $0.25 per share for the quarter ending December 31, 2024, payable on or about January 17, 2025 [1] - The distribution is applicable to all holders of record of its common stock as of the close of business on December 31, 2024 [1] Company Overview - American Healthcare REIT, Inc. is a self-managed real estate investment trust that focuses on acquiring, owning, and operating a diversified portfolio of clinical healthcare real estate properties [2] - The company primarily targets senior housing, skilled nursing facilities, outpatient medical buildings, and other healthcare-related facilities [2] - Its properties are located in the United States, the United Kingdom, and the Isle of Man [2]

Core Viewpoint - American Healthcare REIT (AHR) has been upgraded to a Zacks Rank 1 (Strong Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system emphasizes the correlation between changes in earnings estimates and near-term stock price movements, indicating that rising earnings estimates can lead to increased buying pressure and higher stock prices [4][5]. - For the fiscal year ending December 2024, American Healthcare REIT is expected to earn $1.37 per share, reflecting a -2.1% change from the previous year, but the Zacks Consensus Estimate has increased by 10.6% over the past three months [8]. Zacks Rating System - The Zacks Rank stock-rating system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of American Healthcare REIT to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [11].