North Kansas City Health Retreat Kansas City, MO The 2nd Annual Mizuho Healthcare REIT Conference in April 2021 INVESTMENTS Real Estate Activities Investments and Capital Recycling 4 Acquisitions and Loan Originations 5 Mezzanine Loans and Joint Ventures 6 Lease-Up and Renovations 7 Lease-Up History 8 PORTFOLIO Overview 9 Metrics 10 Diversification Geography, MSA, Age of Portfolio 11-12 Operators 13-14 Update 15 Maturity 16 FINANCIAL Enterprise Value 17 Debt Metrics 18 Debt Maturity 19 Financial Data Summar ...

LTC Properties, Inc. (NYSE:LTC) Q4 2020 Results Conference Call February 19, 2021 11:00 AM ET Company Participants Wendy Simpson - Chairman and CEO Pam Kessler - Co-President and CFO Clint Malin - Co-President and Chief Investment Officer Conference Call Participants Juan Sanabria - BMO Jordan Sadler - KeyBanc Connor Siversky - Berenberg Michael Carroll - RBC Capital Markets Rich Anderson - SMBC Daniel Bernstein - Capital One Omotayo Okusanya - Mizuho Todd Stender - Wells Fargo Operator Good day and welcome ...

(Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Registrant's telephone number, including area code: (805) 981-8655 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Securities registered pursuant to Section 12(b) of the Act: Commission file number: 1-11314 LTC PROPERTIE ...

NAREIT REITworld Virtual Annual Conference NOVEMBER 2020 Ignite Medical Resort Independence Blue Springs, MO 3 INVESTMENTS Execution of Growth Strategy 4 Real Estate Activities Acquisitions and Loan Originations 5 Mezzanine Loans and Joint Ventures 6 Lease-Up and Renovations 7 Lease-Up History 8 Capital Recycling 9 PORTFOLIO Overview 10 Metrics 11 Diversification 18 Debt Maturity 19 Financial Data Summary, Dividends & Total Return 20-22 Geography, MSA, Age of Portfolio Debt Metrics Income Statement Data 23 ...

LTC Properties, Inc. (NYSE:LTC) Q3 2020 Earnings Conference Call October 30, 2020 11:00 AM ET Company Participants Wendy Simpson - Chairman & CEO Pam Kessler - Co-President & CFO Clint Malin - Co-President & CIO Mark Parkinson - President & CEO, ACHA Conference Call Participants Juan Sanabria - BMO Capital Markets Jordan Sadler - KeyBanc Michael Carroll - RBC Capital Markets Daniel Bernstein - Capital One Omotayo Okusanya - Mizuho Operator Good day and welcome to the LTC Properties' Third Quarter 2020 Confe ...

ಷ Weatherly Court Capital One остовек 2020 INVESTMENTS Execution of Growth Strategy 4 Real Estate Activities Acquisitions and Loan Originations 5 Joint Ventures 6 De Novo Development/Renovations 7 Lease-Up and Lease-Up History 8-9 Capital Recycling 10 PORTFOLIO Portfolio Overview 11 Portfolio Metrics 12 Portfolio Diversification Geography, MSA, Age of Portfolio 13-14 Operators 15-16 Maturity 17 FINANCIAL Enterprise Value 18 Debt Metrics 19 Debt Maturity 20 Financial Data Summary, Dividends & Total Return 21 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 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 1-11314 LTC PROPERTIES, INC. (Exact name of Registrant as specified in its charter) (State or other ...

| --- | --- | --- | --- | --- | |-------|-------|-------|-------|-----------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Weatherly Court Medford, OR | BMO Real Assets Conference SEPTEMBER 2020 INVESTMENTS Execution of Growth Strategy 4 Real Estate Activities Acquisitions and Loan Originations 5 Joint Ventures 6 De Novo Development/Renovations 7 Lease-Up and Lease-Up History 8-9 Capital Recycling 10 PORTFOLIO Portfolio Overview 11 Portfolio ...

LTC Properties, Inc. (NYSE:LTC) Q2 2020 Earnings Conference Call July 31, 2020 11:00 AM ET Company Participants Wendy Simpson - Chairman and Chief Executive Officer Pam Kessler - Co-President and Chief Financial Officer Clint Malin - Co-President and Chief Investment Officer Lynne Katzmann - Founder and Chief Executive Officer, Juniper Communities Conference Call Participants Daniel Bernstein - Capital One Connor Siversky - Berenberg Omotayo Okusanya - Mizuho Operator Good day, and welcome to the LTC Proper ...

[PART I -- Financial Information](index=3&type=section&id=PART%20I%20--%20Financial%20Information) [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements for the quarterly period ended June 30, 2020, encompassing balance sheets, income, equity, and cash flow statements with detailed notes [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2020, total assets slightly decreased to **$1.510 billion**, driven by reduced real property investments, while liabilities and equity remained stable Consolidated Balance Sheet Highlights (in thousands of USD) | Account | June 30, 2020 (unaudited) | December 31, 2019 (audited) | | :--- | :--- | :--- | | **Total Assets** | **$1,510,172** | **$1,514,209** | | Real property investments, net | $1,115,593 | $1,136,816 | | Cash and cash equivalents | $50,370 | $4,244 | | **Total Liabilities** | **$722,867** | **$728,783** | | Bank borrowings | $89,900 | $93,900 | | Senior unsecured notes, net | $599,565 | $599,488 | | **Total Equity** | **$787,305** | **$785,426** | [Consolidated Statements of Income and Comprehensive Income](index=5&type=section&id=Consolidated%20Statements%20of%20Income%20and%20Comprehensive%20Income) Q2 2020 net income attributable to LTC significantly decreased to **$1.87 million** due to a **$17.7 million** write-off, while six-month net income increased to **$65.5 million** from real estate sales Income Statement Highlights (in thousands of USD, except per share) | Metric | Q2 2020 | Q2 2019 | Six Months 2020 | Six Months 2019 | | :--- | :--- | :--- | :--- | :--- | | Total Revenues | $28,481 | $46,266 | $74,891 | $91,722 | | Rental Income | $20,275 | $38,277 | $58,310 | $75,901 | | Gain on sale of real estate, net | $189 | $500 | $44,043 | $500 | | Net Income Attributable to LTC | $1,870 | $20,446 | $65,503 | $40,792 | | Diluted EPS | $0.05 | $0.51 | $1.66 | $1.02 | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2020, operating cash flow decreased to **$55.6 million**, investing activities provided **$61.8 million** from real estate sales, and financing used **$71.4 million** Six Months Ended June 30 Cash Flow Summary (in thousands of USD) | Activity | 2020 | 2019 | | :--- | :--- | :--- | | Net cash provided by operating activities | $55,647 | $61,672 | | Net cash provided by (used in) investing activities | $61,848 | $(44,075) | | Net cash used in financing activities | $(71,369) | $(17,046) | | **Increase in cash** | **$46,126** | **$551** | [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail significant accounting policies, including a **$17.7 million** straight-line rent write-off, a **$44.0 million** gain from property sales, COVID-19 rent deferrals, and operator concentrations - Due to payment failures by Senior Lifestyle Corporation, LTC wrote off **$17.7 million** of straight-line rent receivable and lease incentives and placed the operator on a cash basis effective July 2020[33](index=33&type=chunk)[40](index=40&type=chunk) - The company sold 21 properties from the former Preferred Care portfolio in Q1 2020 for net proceeds of approximately **$72.1 million**, resulting in a gain on sale of **$44.0 million**[37](index=37&type=chunk)[47](index=47&type=chunk) - In response to the COVID-19 pandemic, the company agreed to rent deferrals for certain operators totaling **$930,000** for April through June 2020[42](index=42&type=chunk) - The company's Board of Directors authorized a stock repurchase plan in Q1 2020 and purchased **615,827 shares** for **$18.0 million** before terminating the plan on March 25, 2020, due to market uncertainty from COVID-19[62](index=62&type=chunk) - As of June 30, 2020, two operators, Prestige Healthcare and Senior Lifestyle Corporation, accounted for **19.9%** and **11.4%** of total revenue, respectively, representing a significant concentration[76](index=76&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=35&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses performance, highlighting a **$17.7 million** write-off, a **$44.0 million** gain from property sales, COVID-19 rent deferrals, and a Q2 2020 FFO of **$0.31 per share** - The COVID-19 pandemic has adversely impacted operators through increased costs and potential occupancy declines, leading LTC to grant rent deferrals totaling **$0.9 million** for April-June 2020[93](index=93&type=chunk) - Senior Lifestyle Corporation's failure to pay full rent for May and June 2020 led LTC to write off **$17.7 million** in straight-line rent and lease incentives, placing the operator on a cash basis[103](index=103&type=chunk) - The company completed the sale of the 24-property Preferred Care portfolio, generating combined net proceeds of **$77.9 million** and a total gain of approximately **$44.0 million**[106](index=106&type=chunk) Comparison of Operating Results (in thousands of USD) | Line Item | Q2 2020 | Q2 2019 | Difference | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Rental income | $20,275 | $38,277 | $(18,002) | $17.7M write-off of straight-line rent & sale of Preferred Care portfolio | | Gain on sale of real estate, net | $189 | $500 | $(311) | N/A | | Net income | $1,952 | $20,534 | $(18,582) | Primarily driven by the decrease in rental income | NAREIT FFO Reconciliation (in thousands of USD, except per share) | Metric | Q2 2020 | Q2 2019 | Six Months 2020 | Six Months 2019 | | :--- | :--- | :--- | :--- | :--- | | GAAP net income available to common stockholders | $1,773 | $20,352 | $65,225 | $40,606 | | **NAREIT FFO attributable to common stockholders** | **$12,001** | **$29,712** | **$41,268** | **$59,573** | | **Diluted FFO per share** | **$0.31** | **$0.75** | **$1.05** | **$1.50** | [Quantitative and Qualitative Disclosures about Market Risk](index=43&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) No material changes in market risk occurred during the first six months of 2020, though the COVID-19 pandemic may negatively impact business and operations - There were no material changes in market risk during the first six months of 2020[169](index=169&type=chunk) - The company acknowledges that the COVID-19 pandemic may negatively impact its business and results of operations, introducing a new risk factor[169](index=169&type=chunk) [Controls and Procedures](index=43&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of June 30, 2020, with no material changes to internal controls - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period[170](index=170&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, the company's internal controls[171](index=171&type=chunk) [PART II -- Other Information](index=44&type=section&id=PART%20II%20--%20Other%20Information) [Legal Proceedings](index=44&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various ordinary course legal proceedings, which management does not expect to materially impact its financial condition or operations - The company is involved in various claims and lawsuits arising from the ordinary course of business, but does not expect them to be material[174](index=174&type=chunk) - LTC believes that liability for claims related to property operations rests with its lessees and borrowers, per legal principles and lease/mortgage agreements[174](index=174&type=chunk) [Risk Factors](index=44&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor details the adverse impact of the COVID-19 pandemic on business, particularly through increased operator costs, reduced occupancy, and potential rent collection difficulties - A new risk factor has been added detailing the adverse effects of the COVID-19 pandemic on the company's business, financial condition, and results of operations[175](index=175&type=chunk) - The pandemic impacts operators by increasing their costs and potentially reducing occupancy, which could harm their ability to meet financial obligations to LTC, including rent payments[177](index=177&type=chunk) - The company has already provided rent deferrals and acknowledges that local, state, or federal initiatives could further affect its ability to collect rent or enforce remedies[177](index=177&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=45&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the reporting period - None [Exhibits](index=46&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate governance documents, CEO/CFO certifications, and XBRL financial data - The filing includes CEO and CFO certifications pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act[184](index=184&type=chunk) - Corporate governance documents, such as bylaws, and financial data in XBRL format are included as exhibits[184](index=184&type=chunk)