Our Space is Your Place EARNINGS PRESENTATION 4th Quarter 2025 RegencyCenters.com Anastasia Plaza St. Augustine, FL Risk Factors Related to Pandemics or other Public Health Crises Pandemics or other public health crises, may adversely affect our tenants' financial condition, the profitability of our properties, and our access to the capital markets and could have a material adverse effect on our business, results of operations, cash flows and financial condition. Risk Factors Related to Operating Retail-Bas ...

Core Viewpoint - Omega Healthcare Investors reported strong financial results for Q2 2025, with significant growth in both GAAP earnings and revenue, driven by new investments and positive operator developments [1][5][11] Financial Performance - GAAP revenue reached $282.5 million, exceeding analyst expectations of $240.6 million, marking an 11.8% increase year-over-year from $252.7 million in Q2 2024 [2][5] - GAAP earnings per share were $0.46, surpassing the anticipated $0.43, and reflecting a 2.2% increase from $0.45 in Q2 2024 [2][5] - Adjusted Funds From Operations (AFFO) per share increased to $0.77, an 8.5% rise from $0.71 in Q2 2024 [2][5] Investment Activities - The company invested a total of $527 million, with $502.1 million allocated to real estate acquisitions, including a significant purchase of 45 facilities in the U.K. for $344 million at a 10% initial cash yield [6] - Omega also issued $600 million in senior notes due 2030 and raised $258 million in new equity through share issuance [9] Portfolio and Operator Performance - Portfolio occupancy improved to 82.2% for the trailing 12 months ended March 31, 2025, up from 80.9% for the twelve months ended June 30, 2024 [8] - The EBITDAR/rent coverage ratio improved from 1.49x to 1.51x, indicating better operator ability to meet rent obligations [8] - The share of revenue from private payors rose from 8% ten years ago to 39% as of Q1 2025, reflecting a strategic shift to reduce reliance on government reimbursement [8] Regulatory and Market Environment - A federal court ruling in April 2025 invalidated new minimum staffing rules, alleviating a near-term challenge for the sector [10] - Ongoing monitoring of Medicaid reforms and government payment policies is essential due to potential long-term risks [10] Future Guidance - Management raised full-year 2025 guidance for Adjusted Funds From Operations to $3.04–$3.07 per share, reflecting stronger portfolio performance and optimistic operator stability [11][12] - The guidance assumes no significant changes in operator cash flows or large new acquisitions beyond those already announced [12]