CONSISTENT STRATEGY. DELIBERATE EXECUTION. Wells Fargo Real Estate Securities Conference February 24, 2021 DELIVERING VALUE Our vast industry knowledge, experienced executive team and entrepreneurial spirit make Sabra uniquely positioned to succeed in our dynamic industry. We have the size, know-how, balance sheet and passion to deliver long-term value to shareholders. February 24, 2021 Wells Fargo Real Estate Securities Conference 2 | --- | --- | --- | --- | --- | |----------------------------------------- ...

Sabra Health Care REIT, Inc (NASDAQ:SBRA) Q4 2020 Earnings Conference Call February 23, 2021 1:00 PM ET Company Participants Michael Costa – Executive Vice President of Finance and Chief Accounting Officer Rick Matros – Chairman and Chief Executive Officer Talya Nevo-Hacohen – Executive Vice President, Chief Investment Officer and Treasurer Harold Andrews – Chief Financial Officer Conference Call Participants Josh Brown – Scotiabank Juan Sanabria – BMO Capital Markets Nick Joseph – Citi Rich Anderson – SMBC ...

CONSISTENT STRATEGY. DELIBERATE EXECUTION. REITworld 2020 Annual Conference November 17-19, 2020 DELIVERING VALUE Our vast industry knowledge, experienced executive team and entrepreneurial spirit make Sabra uniquely positioned to succeed in our dynamic industry. We have the size, know-how, balance sheet and passion to deliver long-term value to shareholders. November 17-19, 2020 REITworld 2020 Annual Conference 2 | --- | --- | --- | --- | --- | |------------------------------------------|-------|-------|-- ...

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Q3 2020 Earnings Conference Call November 6, 2020 12:00 PM ET Company Participants Michael Costa - Executive Vice President of Finance Rick Matros - Chairman & Chief Executive Officer Talya Nevo-Hacohen - Chief Investment Officer & Treasurer Harold Andrews - Chief Financial Officer Conference Call Participants Josh Brown - Scotiabank Nick Joseph - Citigroup Rich Anderson - SMBC John MaGee - Green Street Advisors Steve Valiquette - Barclays Operator Ladies and gentl ...

Financial Data and Key Metrics Changes - For the quarter ended June 30, 2020, the company recorded revenues of $153.9 million and NOI of $126.9 million, representing increases of $4.6 million and $1.3 million respectively compared to the first quarter of 2020 [97] - FFO for the quarter was $88.1 million, with a normalized FFO of $93.3 million or $0.45 per share, which is comparable to the normalized FFO of $92.1 million or $0.45 per share in the first quarter of 2020 [99] - AFFO was $87.3 million, with a normalized AFFO of $91.5 million or $0.44 per share, similar to the normalized AFFO of $90.5 million or $0.44 per share in the first quarter of 2020 [100] Business Line Data and Key Metrics Changes - The skilled nursing portfolio experienced a decline of 811 basis points in occupancy but showed signs of stabilization since the end of May [13] - The triple net senior housing portfolio was only down 136 basis points, indicating resilience compared to peers [18] - Managed portfolio occupancy decreased by 393 basis points, with specific geographic areas significantly impacting performance [19][60] Market Data and Key Metrics Changes - The company noted that occupancy trends varied significantly by market, with some areas experiencing spikes in COVID-19 cases affecting occupancy [27] - The managed portfolio's revenue decreased by 3.7% in the second quarter compared to the first quarter of 2020, while revenue per occupied room (RevPOR) declined by only 0.6% [63] - The occupancy for the Enlivant joint venture portfolio averaged 78.9%, reflecting a 2.6% decrease on a stabilized same-store basis [65] Company Strategy and Development Direction - The company is focusing on maintaining its financial health by avoiding significant acquisitions and managing leverage carefully during the pandemic [31] - The strategic emphasis is on enhancing the skilled mix of operators to improve occupancy and revenue, particularly in the context of COVID-19 [23] - The company is optimistic about future growth opportunities as it continues to adapt to the changing landscape of senior housing and healthcare [56] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about the ongoing impact of COVID-19 on occupancy and operational costs, but noted improvements in occupancy trends in certain markets [10][24] - The company highlighted the importance of testing and PPE availability as critical factors in managing the pandemic's impact on operations [28] - Management remains cautious about providing future performance outlooks due to uncertainties surrounding the pandemic [96] Other Important Information - The company has not needed to provide COVID-19 related rent relief to any tenants to date, indicating strong rent collection performance [94] - The company has a strong liquidity position with over $950 million in cash and availability, allowing it to navigate challenges effectively [109] - The Board of Directors declared a quarterly cash dividend of $0.30 per share, representing a payout of 68% on normalized AFFO per share [108] Q&A Session Summary Question: How much government support or loans need to be repaid versus how much is grant? - Management indicated that very little government support is expected to impact operators' balance sheets, with most operators not taking advantage of advanced Medicare payments [113]

Sabra Health Care REIT, Inc.(NASDAQ:SBRA) Q1 2020 Earnings Conference Call May 7, 2020 1:00 PM ET Company Participants Michael Costa - Executive Vice President of Finance Rick Matros - Chairman and CEO Talya Nevo-Hacohen - Chief Investment Officer and Treasurer Harold Andrews - Chief Financial Officer Conference Call Participants Michael Griffin - Citi Steven Valiquette - Barclays Omotayo Okusanya - Mizuho Daniel Bernstein - Capital One Operator Good day, ladies and gentlemen, and welcome to the Sabra Healt ...

Portfolio Overview - As of December 31, 2019, Sabra's total equity investments comprised 599 properties with 50,650 beds/units, amounting to an investment of $6620776 thousand [10] - The triple-net portfolio consisted of 383 properties with 38,303 beds/units and an investment of $4972075 thousand [10, 13] - The senior housing - managed portfolio included 46 properties with 4,809 beds/units and an investment of $907771 thousand [10] Financial Performance - For the three months ended December 31, 2019, revenues were $155763 thousand, and net operating income was $134778 thousand [9] - For the year ended December 31, 2019, revenues totaled $661736 thousand, and net operating income reached $592658 thousand [9] - The company's net debt to adjusted EBITDA stood at 489x, including unconsolidated joint venture, it was 538x as of December 31, 2019 [10] Capitalization and Debt - As of December 31, 2019, the company's total debt was $28 billion, with a total enterprise value of $71 billion [10] - The company had 2052 million common shares outstanding as of December 31, 2019 [10] - The weighted average interest rate on total debt was 379% as of December 31, 2019 [85] Investment Activity - In 2019, the company invested $67024 thousand in real estate and $13004 thousand in loans receivable, totaling $80028 thousand in all investments [55] - Subsequent to year-end, the company invested $82363 thousand in real estate [55] 2020 Outlook - The company anticipates net income per share between $081 and $091, FFO per share between $169 and $179, and normalized FFO per share between $171 and $181 for 2020 [97]

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Q4 2019 Earnings Conference Call February 24, 2020 1:00 PM ET Company Participants Michael Costa - EVP, Finance Rick Matros - Chairman & CEO Talya Nevo-Hacohen - EVP, CIO & Treasurer Harold Andrews - CFO Conference Call Participants Nick Yulico - Scotiabank Nick Joseph - Citi Chad Vanacore - Stifel Rich Anderson - SMBC John Kim - BMO Capital Markets Steven Valiquette - Barclays Daniel Bernstein - Capital One Connor Siversky - Berenberg Lukas Hartwich - Green Street ...