www.globalmedicalreit.com NYSE: GMRE Third Quarter 2021 Earnings Supplemental Three and Nine Months Ended September 30, 2021 Corporate Information and Analyst Coverage Executive Team Board of Directors Paula Crowley Director Zhang Huiqi Director Jeffrey Busch Chief Executive Officer, Chairman and President Henry Cole Lead Independent Director and Compensation Committee Chair Matthew Cypher, Ph.D. Investment Committee Chair Ronald Marston Nominating and Corporate Governance Committee Chair Dr. Roscoe Moore D ...

Global Medical REIT Inc. (NYSE:GMRE) Q3 2021 Earnings Conference Call November 4, 2021 9:00 AM ET Company Participants Steve Swett - IR Jeff Busch - CEO, Chairman & President Alfonzo Leon - CFO Bob Kiernan - CFO Conference Call Participants Barry Oxford - Colliers Amanda Sweitzer - Baird Jordan Sadler - KeyBanc Capital Markets Juan Sanabria - BMO Capital Markets Bryan Maher - B. Riley Securities Operator Welcome to Global Medical REIT Third Quarter 2021 Earnings Conference Call. As a reminder, all participa ...

www.globalmedicalreit.com NYSE: GMRE Second Quarter 2021 Earnings Supplemental Three and Six Months Ended June 30, 2021 Corporate Information and Analyst Coverage Executive Team Jeffrey Busch Chief Executive Officer, Chairman and President Alfonzo Leon Chief Investment Officer Danica Holley Chief Operating Officer Bob Kiernan Chief Financial Officer and Treasurer Jamie Barber General Counsel and Corporate Secretary Board of Directors Jeffrey Busch Chief Executive Officer, Chairman and President Henry Cole L ...

Global Medical REIT Inc. (NYSE:GMRE) Q2 2021 Results Conference Call August 4, 2021 9:00 AM ET Company Participants Steve Swett - Investor Relations Jeff Busch - Chief Executive Officer, Chairman & President Alfonzo Leon - Chief Investment Officer Bob Kiernan - Chief Financial Officer Conference Call Participants Amanda Sweitzer - Baird Rob Stevenson - Janney Connor Siversky - Berenberg Barry Oxford - Colliers Bryan Maher - B. Riley Securities Operator Greetings, and welcome to Global Medical REIT Second Qu ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-O QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE K ACT OF 1934 For the quarterly period ended March 31, 2021 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE □ ACT OF 1934 For the transition period from to Commission file number: 001-37815 Global Medical REIT Inc. (Exact name of registrant as specified in its charter) | Marvland | 46-4757266 | | --- | -- ...

www.globalmedicalreit.com NYSE: GMRE First Quarter 2021 Earnings Supplemental Three Months Ended March 31, 2021 Corporate Information and Analyst Coverage Board of Directors Jeffrey Busch Chief Executive Officer, Chairman and President Henry Cole Lead Independent Director and Compensation Committee Chair Paula Crowley Director Matthew Cypher, Ph.D. Investment Committee Chair Zhang Huiqi Director Zhang Jingguo Director Ronald Marston Nominating and Corporate Governance Committee Chair Dr. Roscoe Moore Direct ...

Global Medical REIT Inc. (NYSE:GMRE) Q1 2021 Earnings Conference Call May 6, 2021 9:00 AM ET Company Participants Evelyn Infurna - Investor Relations Jeffrey Busch - Chief Executive Officer, Chairman & President Alfonzo Leon - Chief Investment Officer Robert Kiernan - Chief Financial Officer Conference Call Participants Amanda Sweitzer - Baird Juan Sanabria - BMO capital markets Bryan Maher - B. Riley Securities Operator Thank you for standing by, this is the conference operator. Welcome to the Global Medic ...

Financial Data and Key Metrics Changes - The company reported a 14.3% year-over-year growth in quarterly AFFO per share to $0.24 and a 17% increase in annual AFFO per share to $0.88 [11][31] - Total revenue for Q4 2020 increased by 22% year-over-year to $24.9 million, while total revenue for the year grew approximately 33% to $93.7 million [24][30] - The company ended the year with a portfolio occupancy of 99.1% and a weighted average base rent of $23.71 per square foot [23][32] Business Line Data and Key Metrics Changes - The company completed $226 million in acquisitions during 2020, comprising over 915,000 leasable square feet at a 7.8% weighted average cap rate [16][20] - In Q4 2020, the company purchased approximately $80 million of high-quality off-campus medical properties at a 7.3% weighted average cap rate [15] Market Data and Key Metrics Changes - The company reported a 4.8 times rent coverage from tenants and a weighted average lease term increase to 8.2 years [23] - Deal flow appears to have returned to pre-COVID levels, with expectations for 2021 acquisitions between $175 million to $225 million at an average cap rate range of 7% to 8% [20] Company Strategy and Development Direction - The company aims to expand its portfolio by exploring new product categories, including mental health facilities and multiple tenant medical office buildings [65] - The management internalization was completed, which is expected to enhance operational efficiency and reduce reliance on external advisors [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the portfolio's resilience despite the challenges posed by the COVID-19 pandemic, highlighting strong tenant performance and collection rates [22][66] - The company anticipates a stable G&A expense range for 2021, reflecting a full year of being internally managed [35] Other Important Information - The company achieved a milestone of over $1 billion in real estate investments [11] - As of the end of 2020, the gross investment in real estate was nearly $1.15 billion, an increase of 26.2% from the previous year [32] Q&A Session Summary Question: What is the outlook for G&A and operating expenses in 2021? - Management indicated that G&A and operating expenses combined were about $7 million in Q4, with expectations for a similar range moving forward [38][40] Question: What is the status of the Marina Towers and Rock Surgery assets? - Management confirmed that Marina Towers is in bankruptcy but expects to recover rent, while Rock Surgery is a smaller asset with minimal impact [41][46] Question: How does the company view the dialysis center market? - The dialysis market is described as liquid and attractive, with the company focusing on properties with multiple tenants to enhance yield [52] Question: What is the strategy regarding ATM issuances? - The company is using ATM issuances opportunistically to finance acquisitions and maintain flexibility [55] Question: Are there opportunities for permanent financing? - Management is open to permanent financing options but noted that options are limited due to the company's growth mode [59] Question: What is the approach to capital allocation and scaling acquisitions? - The company is testing different types of products to expand its acquisitions while maintaining a core acquisition strategy of around $200 million annually [65]

Part I: Financial Information [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for Global Medical REIT Inc. as of June 30, 2019, and for the three and six-month periods then ended, including balance sheets, statements of operations, comprehensive income, equity, and cash flows, along with detailed notes explaining accounting policies and financial activities [Condensed Consolidated Financial Statements](index=4&type=section&id=Condensed%20Consolidated%20Financial%20Statements) The company's total assets increased to **$750.7 million** as of June 30, 2019, from **$636.1 million** at year-end 2018, primarily driven by growth in real estate investments; for Q2 2019, total revenue grew **27.4%** year-over-year to **$16.9 million**, and net income attributable to common stockholders was **$0.9 million**, or **$0.03 per share**, compared to a loss of **$64 thousand** in Q2 2018; for the first six months, net cash from operations was **$16.7 million** Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2019 | December 31, 2018 | | :--- | :--- | :--- | | Investment in real estate, net | $721,719 | $616,925 | | Total assets | $750,722 | $636,099 | | Credit facility, net | $315,691 | $276,353 | | Total liabilities | $389,119 | $336,349 | | Total equity | $361,603 | $299,750 | Condensed Consolidated Statements of Operations Highlights (in thousands) | Metric | Q2 2019 | Q2 2018 | H1 2019 | H1 2018 | | :--- | :--- | :--- | :--- | :--- | | Rental revenue | $16,835 | $13,240 | $31,976 | $24,796 | | Total revenue | $16,880 | $13,249 | $32,080 | $24,814 | | Total expenses | $14,418 | $11,865 | $27,575 | $21,529 | | Net income | $2,462 | $1,384 | $4,505 | $3,285 | | Net income (loss) attributable to common stockholders | $904 | $(64) | $1,432 | $346 | | EPS - basic and diluted | $0.03 | $(0.00) | $0.05 | $0.02 | Condensed Consolidated Statements of Cash Flows Highlights (Six Months Ended June 30, in thousands) | Cash Flow Activity | 2019 | 2018 | | :--- | :--- | :--- | | Net cash provided by operating activities | $16,664 | $14,923 | | Net cash used in investing activities | $(117,474) | $(125,571) | | Net cash provided by financing activities | $101,839 | $109,721 | [Notes to the Unaudited Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20the%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the company's accounting policies, property portfolio changes, debt structure, equity transactions, and other key financial components, including the acquisition of six properties for **$116.1 million**, an increase in credit facility capacity to **$425 million**, and the issuance of common stock raising **$79.7 million** in net proceeds, alongside the adoption of the new lease accounting standard ASC Topic 842 on January 1, 2019 - The company completed six property acquisitions during the first six months of 2019, adding **$116.1 million** to its gross investment in real estate, accounted for as asset acquisitions[48](index=48&type=chunk)[49](index=49&type=chunk) - On April 15, 2019, the company exercised a **$75 million** accordion feature on its credit facility, increasing the term loan component to **$175 million** and total borrowing capacity to **$425 million**[70](index=70&type=chunk) - The company adopted the new lease accounting standard, ASC Topic 842, on January 1, 2019, using the modified retrospective approach, resulting in the recognition of a right-of-use asset of **$3.1 million** and a lease liability of **$2.4 million** as of June 30, 2019[133](index=133&type=chunk)[134](index=134&type=chunk)[43](index=43&type=chunk) Property Acquisitions (Six Months Ended June 30, 2019, in thousands) | Facility | Date Acquired | Gross Investment | | :--- | :--- | :--- | | Zachary | 2/28/19 | $4,683 | | Gilbert and Chandler | 3/19/19 | $16,259 | | Las Vegas | 4/15/19 | $22,502 | | Oklahoma Northwest | 4/15/19 | $28,207 | | Mishawaka | 4/15/19 | $16,103 | | Surprise | 4/15/19 | $28,682 | | **Total Additions** | | **$116,051** | Common Stock Dividend Activity (H1 2019) | Date Announced | Payment Date | Dividend per Share | | :--- | :--- | :--- | | Dec 13, 2018 | Jan 10, 2019 | $0.20 | | Mar 6, 2019 | Apr 10, 2019 | $0.20 | | Jun 14, 2019 | Jul 11, 2019 | $0.20 | [Management's Discussion and Analysis (MD&A)](index=35&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the significant growth in revenue and expenses primarily to the expansion of the property portfolio, with total revenue for Q2 2019 increasing by **27.4%** year-over-year to **$16.9 million**; the company raised **$85.0 million** in equity and increased its debt to fund acquisitions, and post-quarter, closed on an additional **$42.3 million** in acquisitions with another **$62.5 million** under contract, maintaining liquidity through cash flow from operations, credit facility borrowings, and equity issuances - The primary driver for variances in results of operations compared to the prior year was the increase in the size of the property portfolio, with net investment in real estate growing from **$580.0 million** to **$721.7 million** year-over-year[174](index=174&type=chunk) - During the first six months of 2019, the company raised **$85.0 million** of equity through common stock and OP Unit issuances at an average price of **$9.76 per share**[164](index=164&type=chunk)[167](index=167&type=chunk) - Since June 30, 2019, the company has closed on four acquisitions totaling **$42.3 million** and has an additional five properties under contract for a total of **$62.5 million**[164](index=164&type=chunk)[166](index=166&type=chunk) [Results of Operations](index=41&type=section&id=Results%20of%20Operations) For Q2 2019, total revenue increased by **$3.6 million (27.4%)** to **$16.9 million** compared to Q2 2018, driven by acquisitions, with net income rising to **$2.5 million** from **$1.4 million**; for the six-month period, revenue grew by **$7.3 million (29.3%)** to **$32.1 million**, and net income increased to **$4.5 million** from **$3.3 million**, with growth in revenues accompanied by corresponding increases in property operating expenses, depreciation, amortization, management fees, and interest expense due to the larger portfolio and associated financing Comparison of Operations - Three Months Ended June 30 (in thousands) | Account | 2019 | 2018 | $ Change | | :--- | :--- | :--- | :--- | | Total revenue | $16,880 | $13,249 | $3,631 | | Depreciation expense | $4,608 | $3,445 | $1,163 | | Interest expense | $4,132 | $3,942 | $190 | | Net income | $2,462 | $1,384 | $1,078 | Comparison of Operations - Six Months Ended June 30 (in thousands) | Account | 2019 | 2018 | $ Change | | :--- | :--- | :--- | :--- | | Total revenue | $32,080 | $24,814 | $7,266 | | Depreciation expense | $8,475 | $6,351 | $2,124 | | Interest expense | $8,157 | $6,627 | $1,530 | | Net income | $4,505 | $3,285 | $1,220 | [Liquidity and Capital Resources](index=46&type=section&id=Liquidity%20and%20Capital%20Resources) The company's short-term liquidity needs are met through cash from operations and its credit facility, with **$5.9 million** in cash and restricted cash as of June 30, 2019; during H1 2019, the company raised **$75.6 million** from a public stock offering and **$4.1 million** from its ATM program, and the credit facility capacity was increased to **$425 million**, with **$315.7 million** outstanding at quarter-end, while long-term liquidity for acquisitions and other needs will be sourced from cash flow, debt, and equity issuances - Primary sources of cash include rent collection, borrowings under the Credit Facility, and proceeds from equity issuances[202](index=202&type=chunk) - In H1 2019, the company raised **$75.6 million** in net proceeds from an underwritten public offering and **$4.1 million** from its ATM program[203](index=203&type=chunk)[204](index=204&type=chunk) - The credit facility was expanded to **$425 million** in April 2019, with **$315.7 million** outstanding as of June 30, 2019[205](index=205&type=chunk)[207](index=207&type=chunk) [Non-GAAP Financial Measures](index=49&type=section&id=Non-GAAP%20Financial%20Measures) The company uses Funds from Operations (FFO) and Adjusted Funds from Operations (AFFO) as supplemental performance measures; for Q2 2019, FFO per share was **$0.18**, flat year-over-year, and AFFO per share was **$0.18**, down from **$0.20** in Q2 2018; for the six-month period, both FFO and AFFO per share were **$0.35**, compared to **$0.36** in the prior year period FFO and AFFO Reconciliation (in thousands, except per share) | Metric | Q2 2019 | Q2 2018 | H1 2019 | H1 2018 | | :--- | :--- | :--- | :--- | :--- | | Net income | $2,462 | $1,384 | $4,505 | $3,285 | | FFO | $6,870 | $4,300 | $12,326 | $8,416 | | AFFO | $6,836 | $4,716 | $12,224 | $8,502 | | **FFO per share** | **$0.18** | **$0.18** | **$0.35** | **$0.36** | | **AFFO per share** | **$0.18** | **$0.20** | **$0.35** | **$0.36** | [Quantitative and Qualitative Disclosures About Market Risk](index=51&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate risk associated with its variable-rate debt under the Credit Facility, with **$149.5 million** of unhedged variable-rate debt as of June 30, 2019, which is mitigated by interest rate swaps to fix the LIBOR component on its **$175 million** Term Loan and an additional **$70 million** of its Revolver debt - The primary market risk is interest rate changes on variable-rate debt, with **$149.5 million** of unhedged variable-rate borrowings as of June 30, 2019[227](index=227&type=chunk)[229](index=229&type=chunk) - A **100 basis point** increase in LIBOR would decrease annual cash flow by approximately **$1.5 million**[229](index=229&type=chunk) - The company uses interest rate swaps to manage risk, having effectively fixed the LIBOR rate on its **$175 million** Term Loan and **$70 million** of its Revolver debt[230](index=230&type=chunk)[208](index=208&type=chunk) [Controls and Procedures](index=51&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of June 30, 2019, with no material changes to the company's internal control over financial reporting during the quarter - The Principal Executive Officer and Principal Financial Officer concluded that the company's disclosure controls and procedures were effective as of June 30, 2019[232](index=232&type=chunk) - No material changes were made to the internal control over financial reporting during the most recently completed fiscal quarter[234](index=234&type=chunk) Part II: Other Information [Legal Proceedings](index=52&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently subject to any material litigation, nor is it aware of any threatened litigation that would have a material adverse effect on its financial position or results of operations - The company is not presently subject to any material litigation[236](index=236&type=chunk) [Risk Factors](index=52&type=section&id=Item%201A.%20Risk%20Factors) The company highlights significant geographic concentration and tenant concentration as key risks, with a substantial portion of its annualized base rent derived from properties in a few states, notably Texas (**20%**), and the top four tenants accounting for approximately **35%** of the portfolio's annualized base rent, making the company vulnerable to the financial health of these specific tenants - The company has significant geographic concentration, with approximately **67%** of its annualized base rent derived from properties in Texas, Ohio, Pennsylvania, Oklahoma, Arizona, and Florida[238](index=238&type=chunk) - There is significant tenant concentration, with the top four tenants (Encompass, Memorial Health, Kindred Health, and OCOM) representing approximately **35%** of the portfolio-wide annualized base rent[239](index=239&type=chunk)