Healthpeak Properties

Year-Over-Year Total Merger-Combined SS Cash (Adjusted) NOI Growth Three Month Year-To-Date SS Growth % % of SS SS Growth % % of SS Outpatient Medical 3.9 % 55.2 % 4.5 % 54.9 % Lab 1.5 % 34.4 % 5.4 % 34.5 % CCRC 8.6 % 10.4 % 12.2 % 10.6 % Total Merger-Combined SS Cash (Adjusted) NOI 3.5 % 100.0 % 5.6 % 100.0 % Page 2 DIVIDEND On July 7, 2025, Healthpeak's Board of Directors declared a monthly common stock cash dividend of $0.10167 per share for each of July, August, and September, of 2025 representing cash dividends totaling $0.305 per share for the third quarter, and an annualized dividend amount of $1.22 per share.

SEC original ↗Healthpeak Properties — Earnings release (8-K exhibit)EX-99Jul 24, 2025

The dividend is payable on the payment dates set forth in the table below to stockholders of record as of the close of business on the corresponding record date.

SEC original ↗Healthpeak Properties — Earnings release (8-K exhibit)EX-99Jul 24, 2025

SHARE REPURCHASE ACTIVITY As previously disclosed, in April 2025, Healthpeak repurchased 3.9 million shares at a weighted average share price of $18.22, totaling $72 million.

SEC original ↗Healthpeak Properties — Earnings release (8-K exhibit)EX-99Jul 24, 2025

As of July 24, 2025, approximately $406 million remained available for share repurchases under the program.

SEC original ↗Healthpeak Properties — Earnings release (8-K exhibit)EX-99Jul 24, 2025

As of July 24, 2025, Healthpeak had approximately $2.3 billion in available liquidity through a combination of unrestricted cash and its revolving credit facility.

SEC original ↗Healthpeak Properties — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Examples of forward-looking statements include, among other things (i) statements regarding timing, outcomes and other details relating to current, pending or contemplated acquisitions, dispositions, developments, redevelopments, joint venture transactions, leasing activity and commitments, financing activities, or other transactions discussed in this release (ii) the payment of a quarterly cash dividend and (iii) the information presented under the heading 2025 Guidance Information.

SEC original ↗Healthpeak Properties — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Record Date Payment Date Amount July 18, 2025 July 31, 2025 $0.10167 per common share August 18, 2025 August 29, 2025 $0.10167 per common share September 19, 2025 September 30, 2025 $0.10167 per common share NORTHSIDE OUTPATIENT MEDICAL DEVELOPMENTS During the second quarter of 2025, Healthpeak entered into two new outpatient development agreements in high-growth submarkets of Atlanta totaling $148 million to support the expansion of our longstanding partner, Northside Hospital.

SEC original ↗Healthpeak Properties — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Healthpeak owns, operates, and develops high-quality real estate focused on healthcare discovery and delivery.

SEC original ↗Healthpeak Properties — Earnings release (8-K exhibit)EX-99Jul 24, 2025

, a Standard & Poor s 500 company, is a Maryland corporation that is organized to qualify as a real estate investment trust ( REIT ) and that, together with its consolidated entities (collectively, Healthpeak or the Company ), owns, operates, and develops high-quality real estate focused on healthcare discovery and delivery in the United States ( U.

SEC original ↗Healthpeak Properties — 10-Q Quarterly report10-QAug 5, 2026

Forward-looking statements reflect our current expectations and views about future events and are subject to risks and uncertainties that could significantly affect our future financial condition and results of operations.

SEC original ↗Healthpeak Properties — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Further, we cannot guarantee the accuracy of any such forward-looking statement contained in this release, and such forward-looking statements are subject to known and unknown risks and uncertainties that are difficult to predict.

SEC original ↗Healthpeak Properties — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Moreover, other risks and uncertainties of which we are not currently aware may also affect our forward-looking statements, and may cause actual results and the timing of events to differ materially from those anticipated.

SEC original ↗Healthpeak Properties — Earnings release (8-K exhibit)EX-99Jul 24, 2025

AFFO does not represent cash generated from operating activities determined in accordance with GAAP and is not indicative of cash available to fund cash needs as it excludes the following items which generally flow through our cash flows from operating activities (i) adjustments for changes in working capital or the actual timing of the payment of income or expense items that are accrued in the period, (ii) transaction-related costs, (iii) litigation settlement expenses, and (iv) restructuring and severance-related charges.

SEC original ↗Healthpeak Properties — Presentation / slide deck (8-K exhibit)EX-99Jul 24, 2025

Adjusted EBITDAre is defined as EBITDAre excluding other impairments (recoveries) and other losses (gains), transaction and merger-related items, prepayment costs (benefits) associated with early retirement or payment of debt, restructuring and severance-related charges, litigation costs (recoveries), casualty-related charges (recoveries), stock-based compensation amortization expense, and non-refundable entrance fees collected in excess of (less than) the related amortization, adjusted to reflect the impact of transactions that occurred during the period as if the transactions occurred at the beginning of the period.

SEC original ↗Healthpeak Properties — Presentation / slide deck (8-K exhibit)EX-99Jul 24, 2025

In addition, we present Nareit FFO on an adjusted basis before the impact of non-comparable items including, but not limited to, transaction and merger-related items, other impairments (recoveries) and other losses (gains), restructuring and severance-related charges, prepayment costs (benefits) associated with early retirement or payment of debt, litigation costs (recoveries), casualty-related charges (recoveries), deferred tax asset valuation allowances, and changes in tax legislation ( FFO as Adjusted ).

SEC original ↗Healthpeak Properties — Presentation / slide deck (8-K exhibit)EX-99Jul 24, 2025