# EDGAR Filing Document

**Accession Number:** 0001360604
**File Stem:** 0001360604-23-000020
**Filing Date:** 2023-3
**Character Count:** 124574
**Document Hash:** 15ce40dcb36c3ea47aa849b14ac9d038
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001360604-23-000020.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001360604-23-000020

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 18

**CONFORMED PERIOD OF REPORT**: 20230301

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Healthcare Realty Trust Inc
- **CENTRAL INDEX KEY:** 0001360604
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35568
- **FILM NUMBER:** 23689622

**BUSINESS ADDRESS:**
- **STREET 1:** 3310 WEST END AVENUE,  SUITE 700
- **CITY:** NASHVILLE
- **STATE:** TN
- **ZIP:** 37203
- **BUSINESS PHONE:** 615-269-8175

**MAIL ADDRESS:**
- **STREET 1:** 3310 WEST END AVENUE,  SUITE 700
- **CITY:** NASHVILLE
- **STATE:** TN
- **ZIP:** 37203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HEALTHCARE TRUST OF AMERICA, INC.
- **DATE OF NAME CHANGE:** 20160802

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Healthcare Trust of America Holdings, Inc.
- **DATE OF NAME CHANGE:** 20160802

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Healthcare Trust of America Holdings, LP
- **DATE OF NAME CHANGE:** 20160802

?xml version="1.0" ? hr-20230301

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): March 1, 2023 (March 1, 2023)**

**Healthcare Realty Trust Incorporated** 

(Exact name of registrant as specified in its charter)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Maryland** | **(Healthcare Realty Trust Incorporated)** | **001-35568** | **20-4738467** |
| (State or other jurisdiction of incorporation or organization) | (State or other jurisdiction of incorporation or organization) | (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **3310 West End Avenue, Suite 700** | **Nashville,** | **Tennessee** | **37203** | **(615)** | **269-8175** |
| (Address of Principal Executive Office and Zip Code) | (Address of Principal Executive Office and Zip Code) | (Address of Principal Executive Office and Zip Code) | (Address of Principal Executive Office and Zip Code) | (Registrant's telephone number, including area code) | (Registrant's telephone number, including area code) |
|  |  |  |  | (Registrant's telephone number, including area code) | (Registrant's telephone number, including area code) |

---

---

| |
|:---|
| **www.healthcarerealty.com** |
| (Internet address) |

---

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading symbol(s) | Name of each exchange on which registered |
| **Class A Common Stock, $0.01 par value per share** | **HR** | **New York Stock Exchange** |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):

Healthcare Realty Trust Incorporated ☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Healthcare Realty Trust Incorporated ☐

------

---

| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition.** |

---

**Fourth Quarter Earnings Press Release**

On March 1, 2023, Healthcare Realty Trust Incorporated (the "Company") issued a press release announcing its earnings for the fourth quarter ended December 31, 2022. A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.

---

| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure** |

---

**Fourth Quarter Supplemental Information**

The Company is furnishing its Supplemental Information for the fourth quarter ended December 31, 2022, which is also contained on its website (www.healthcarerealty.com). See Exhibit 99.2 to this Current Report on Form 8-K.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

(d) Exhibits.

---

| | |
|:---|:---|
| 99.1 | <u>[Fourth quarter earnings press release, dated March 1, 2023.](exhibit991fourthquarter202.htm)</u> |
| 99.2 | <u>[Supplemental Information for the fourth quarter ended December 31, 2022.](exhibit992supplementalinfo.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | **Healthcare Realty Trust Incorporated** | **Healthcare Realty Trust Incorporated** |
| Date: March 1, 2023 | By: | /s/ J. Christopher Douglas |
|  |  | Name: J. Christopher Douglas |
|  |  | Title: Executive Vice President - Chief Financial Officer |

---

## Exhibit 99.1

Corporate Communications

P: 615.269.8175

News Release

HEALTHCARE REALTY TRUST REPORTS RESULTS FOR THE FOURTH QUARTER

NASHVILLE, Tennessee, March 1, 2023 **-** Healthcare Realty Trust Incorporated (NYSE:HR) today announced results for the fourth quarter ended December 31, 2022. The Company reported net loss attributable to common stockholders of $35.8 million, or $0.09 per diluted common share, for the quarter ended December 31, 2022. Normalized FFO for the three months ended December 31, 2022 totaled $159.8 million, or $0.42 per diluted common share.

Salient quarterly highlights include:

• Normalized FFO per share totaled $0.42.

• Same store cash NOI, including the Company's share of joint ventures, for the fourth quarter increased 2.8% over the prior year. For the trailing twelve months ended December 31, 2022, same store cash NOI, including the Company's share of joint ventures, grew 2.6%.

• Predictive growth measures in the same store portfolio include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Average in-place rent increases of 2.81%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Future annual contractual increases of 2.9% for leases commencing in the quarter excluding one lease with no escalators to facilitate a multi-year build out period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Weighted average cash leasing spreads of 3.5% on 623,000 square feet renewed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 7% (<0% spread)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 13% (0-3%)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 66% (3-4%)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 14% (>4%)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Tenant retention of 75.7%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Year-over-year occupancy increased 169,000 square feet, or 50 basis points, to 89.3%. Sequential occupancy increased 59,000 square feet, or 20 basis points.

• Portfolio leasing activity in the fourth quarter totaled 1,113,000 square feet related to 336 leases:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ 671,000 square feet of renewals

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ 442,000 square feet of new and expansion lease

• The Company's fourth quarter G&A expense of $14.4 million compares to normalized combined second quarter G&A of $23.1 million. This $35 million annualized reduction of G&A achieves the targeted $33-$36 million of synergies expected from the merger. Further G&A synergies are expected to be more than offset by normal G&A growth.

• In 2022, the Company closed on joint ventures and asset sale transactions totaling $1.25 billion at a weighted average cap rate of 4.8%.

• Since year end, the Company closed on additional asset sales of $112.8 million. These sales bring the cumulative net proceeds since the merger closing in July 2022 to $1.125 billion. These proceeds fully complete the funding of the merger-related special dividend that was paid in July 2022.

---

| | |
|:---|:---|
| ![hrlogo-rgb1.jpg](hrlogo-rgb1.jpg) | HEALTHCAREREALTY.COM \| PAGE 1 OF 7 |

---

------

• In the fourth quarter, the Company acquired interests in four medical office buildings totaling 76,000 square feet for $26.4 million at a 6.5% cap rate. The properties are all located in existing markets and expand clusters in high growth markets, including Austin, Denver, Houston and Jacksonville.

• In the fourth quarter, the Company entered into new interest rate swaps totaling $550 million. In January 2023, $300 million of interest rate swaps expired. In February 2023, $50 million of new swaps were initiated bringing proforma fixed rate debt to approximately 85% of total debt.

• Net debt to adjusted EBITDA on a proforma run-rate basis was 6.4 times at the end of the quarter. For a reconciliation to expected run-rate amounts, see the section below.

• A dividend of $0.31 per share will be paid on March 21, 2023 to stockholders of record on March 7, 2023.

The following table provides a reconciliation of the current quarter full proforma normalized FFO, FAD and Adjusted EBITDA to an expected quarterly run-rate. The expected run-rates do not adjust for future changes in interest rates, portfolio NOI growth, or external investment activity. The expected run-rates also do not include any dispositions beyond those expected to repay the $1.125 billion asset sale term loan.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | NORMALIZED FFO | FAD | ADJUSTED EBITDA | NET DEBT |
| Q4 2022 | $159801 | $109397 | $214909 | $5607661 |
| Q4 NOI acquisition/disposition timing impact <sup>1,2</sup> | (2255) | (1704) |  |  |
| NOI adjustment for January 2023 asset sales <sup>1</sup> | (1801) | (1761) | (1801) | (112460) |
| Q4 asset sale term loan interest paid | 3280 | 3280 |  |  |
| Normalized maintenance capex adjustment <sup>3</sup> |  | 10403 |  |  |
| Adjusted run-rate | $159025 | $119615 | $213108 | $5495201 |
| Per share | $0.41 | $0.31 |  |  |
| **Net debt to adjusted EBITDA** |  |  |  | 6.4x |
| **FFO wtd avg common shares outstanding - diluted**  | 383228 | 383228 |  |  |

---

1FFO and EBITDA includes the impact of straight-line rent.

2Adjustments to reflect quarterly NOI/EBITDA from properties acquired or disposed of in the quarter.

3Quarterly maintenance capex as a percentage of NOI was 22%. Full year maintenance cap ex was 17.1% on a combined company basis. Adjustment reflects a reduction to maintenance capex to be consistent with full year 2022.

 <br> HEALTHCARE REALTY TRUST INCORPORATED HEALTHCAREREALTY.COM \| PAGE 2 OF 7

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| PROFORMA MAINTENANCE CAPITAL EXPENDITURES FUNDING | PROFORMA MAINTENANCE CAPITAL EXPENDITURES FUNDING | PROFORMA MAINTENANCE CAPITAL EXPENDITURES FUNDING | PROFORMA MAINTENANCE CAPITAL EXPENDITURES FUNDING | PROFORMA MAINTENANCE CAPITAL EXPENDITURES FUNDING | PROFORMA MAINTENANCE CAPITAL EXPENDITURES FUNDING |
|  | 2022 PROFORMA | 4Q 2022 | PROFORMA 3Q 2022 | COMBINED COMPANY 2Q 2022 | COMBINED COMPANY 1Q 2022 |
| 2nd generation TI | $54309 | $13523 | $11763 | $13635 | $15388 |
| Leasing commissions paid | 31992 | 7404 | 8739 | 7251 | 8598 |
| Capital expenditures | 64011 | 25669 | 17461 | 11726 | 9155 |
|  | $150312 | $46596 | $37963 | $32612 | $33141 |
| % of Cash NOI | % of Cash NOI | % of Cash NOI | % of Cash NOI | % of Cash NOI | % of Cash NOI |
| 2nd generation TI | 6.2% | 6.4% | 5.5% | 6.0% | 6.9% |
| Leasing commissions paid | 3.6% | 3.5% | 4.1% | 3.2% | 3.9% |
| Capital expenditures | 7.3% | 12.1% | 8.1% | 5.2% | 4.1% |
|  | 17.1% | 22.0% | 17.7% | 14.4% | 14.9% |
| FAD | $505271 |  |  |  |  |
| 2022 Average of quarterly wtd average common shares outstanding - diluted | 383592 |  |  |  |  |
| 2022 Dividend per share | $1.24 |  |  |  |  |
| Proforma dividends | $475654 |  |  |  |  |
| Proforma Payout Ratio | 94.1% |  |  |  |  |

---

Healthcare Realty Trust is a real estate investment trust that integrates owning, managing, financing and developing income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States. As of December 31, 2022, the Company was invested in over 700 real estate properties totaling more than 40 million square feet and provided leasing and property management services to over 35 million square feet nationwide.

Additional information regarding the Company, including this quarter's operations, can be found at www.healthcarerealty.com. Please contact the Company at 615.269.8175 to request a printed copy of this information. In addition to the historical information contained within, this press release contains certain forward-looking statements with respect to the Company. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management's intentions, beliefs, expectations, plans or predictions of the future, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements include risks, uncertainties and contingencies, actual results may differ materially and in adverse ways from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, without limitation, the following: failure to realize the expected benefits of the Merger; significant transaction costs and/or unknown or inestimable liabilities; the risk that HTA's business will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; risks related to future opportunities and plans for the Company, including the uncertainty of expected future financial performance and results of the Company; the possibility that, if the Company does not achieve the perceived benefits of the Merger as rapidly or to the extent anticipated by financial analysts or investors, the market price of the Company's common stock could decline; general adverse economic and local real estate conditions; changes in economic conditions generally and the real estate market specifically; legislative and regulatory changes, including changes to laws governing the taxation of REITs and changes to laws governing the healthcare industry; the availability of capital; changes in interest rates; competition in the real estate industry; the supply and demand for operating properties in the Company's proposed market areas; changes in accounting principles generally accepted in the US; policies and guidelines applicable to REITs; the availability of properties to acquire; the availability of financing; pandemics and other health concerns, and the measures intended to prevent their spread, including the currently ongoing COVID-19 pandemic; and the potential material adverse effect these matters may have on the Company's business, results of operations, cash flows and financial condition. Additional information concerning the Company and its business, including additional factors that could materially and adversely affect the Company's financial results, include, without limitation, the risks described under Part I, Item 1A - Risk Factors, in the Company's 2022 Annual Report on Form 10-K and in its other filings with the SEC.

 <br> HEALTHCARE REALTY TRUST INCORPORATED HEALTHCAREREALTY.COM \| PAGE 3 OF 7

------

Consolidated Balance Sheets <sup>1</sup> <br> DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA

---

| | | | |
|:---|:---|:---|:---|
| ASSETS |  |  |  |
|  | Post-merger | Post-merger | Pre-merger Combined |
|  | 4Q 2022 | 3Q 2022 | 2Q 2022 |
| Real estate properties |  |  |  |
| Land | $1439798 | $1449550 | $1104700 |
| Buildings and improvements | 11332037 | 11439797 | 11447844 |
| Lease intangibles | 959998 | 968914 | 382738 |
| Personal property | 11907 | 11680 | 11799 |
| Investment in financing receivables, net | 120236 | 118919 | 118446 |
| Financing lease right-of-use assets | 83824 | 79950 | 71632 |
| Construction in progress | 35560 | 43148 | 31980 |
| Land held for development | 74265 | 73321 | 22952 |
| Total real estate investments | 14057625 | 14185279 | 13192091 |
| Less accumulated depreciation and amortization | (1645271) | (1468736) | (3102055) |
| Total real estate investments, net | 12412354 | 12716543 | 10090036 |
| Cash and cash equivalents | 60961 | 57583 | 64026 |
| Restricted cash |  |  | 4559 |
| Assets held for sale, net | 18893 | 185074 |  |
| Operating lease right-of-use assets | 336983 | 321365 | 353807 |
| Investments in unconsolidated joint ventures | 327248 | 327752 | 272851 |
| Other assets, net and goodwill | 693192 | 587126 | 578948 |
| Total assets | $13849631 | $14195443 | $11364227 |
| LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |
|  | Post-merger | Post-merger | Pre-merger Combined |
|  | 4Q 2022 | 3Q 2022 | 2Q 2022 |
| Liabilities |  |  |  |
| Notes and bonds payable | $5351827 | $5570139 | $5158398 |
| Accounts payable and accrued liabilities | 244033 | 231018 | 255883 |
| Liabilities of properties held for sale | 437 | 10644 |  |
| Operating lease liabilities | 279895 | 268840 | 291739 |
| Financing lease liabilities | 72939 | 72378 | 62195 |
| Other liabilities | 218668 | 203398 | 176844 |
| Total liabilities | 6167799 | 6356417 | 5945059 |
| Redeemable non-controlling interests | 2014 |  |  |
| Stockholders' equity |  |  |  |
| Preferred stock, $0.01 par value; 200,000 shares authorized |  |  |  |
| Common stock, $0.01 par value; 1,000,000 shares authorized | 3806 | 3806 | 3807 |
| Additional paid-in capital | 9587637 | 9586556 | 9185292 |
| Accumulated other comprehensive income/(loss) | 2140 | 5524 | 4536 |
| Cumulative net income attributable to common stockholders | 1307055 | 1342819 | 1314515 |
| Cumulative dividends <sup>1</sup> | (3329562) | (3211492) | (5171621) |
| Total stockholders' equity | 7571076 | 7727213 | 5336529 |
| Non-controlling interest | 108742 | 111813 | 82639 |
| Total Equity | 7679818 | 7839026 | 5419168 |
| Total liabilities and stockholders' equity | $13849631 | $14195443 | $11364227 |

---

1Includes Legacy HTA's cumulative dividends in excess of earnings.

 <br> HEALTHCARE REALTY TRUST INCORPORATED HEALTHCAREREALTY.COM \| PAGE 4 OF 7

------

Consolidated Statements of Income <sup>1</sup> <br> DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | 3Q 2022 | 3Q 2022 | 2Q 2022 |
| | 4Q 2022 | PROFORMA FULL QUARTER | AS REPORTED | PRE-MERGER COMBINED |
| Revenues |  |  |  |  |
| Rental income | $329399 | $344251 | $298931 | $338916 |
| Interest income | 4227 | 3750 | 3366 | 1957 |
| Other operating | 4436 | 4057 | 4057 | 4587 |
|  | 338062 | 352058 | 306354 | 345460 |
| Expenses |  |  |  |  |
| Property operating | 117009 | 127172 | 112473 | 120383 |
| General and administrative | 14417 | 18956 | 16741 | 24783 |
| Acquisition and pursuit costs <sup>2</sup> | 92 | 482 | 482 | 1449 |
| Merger-related costs | 10777 | 79402 | 79402 | 12192 |
| Depreciation and amortization | 185275 | 186643 | 158117 | 130782 |
|  | 327570 | 412655 | 367215 | 289589 |
| Other income (expense) |  |  |  |  |
| Interest expense before merger-related fair value | ($52464) | ($48547) | ($43775) | ($40303) |
| *Merger-related fair value adjustment* | *(11979)* | *(11844)* | *(9269)* | *—* |
| Interest expense | (64443) | (60391) | (53044) | (40303) |
| Gain on sales of real estate properties | 73083 | 143908 | 143908 | 8496 |
| Gain (loss) on extinguishment of debt | 119 | (1091) | (1091) | (3615) |
| Impairment of real estate assets | (54452) |  |  |  |
| Equity gain (loss) from unconsolidated joint ventures | 89 | (124) | (124) | 94 |
| Interest and other income (expense), net | (1168) | (172) | (172) | 9 |
|  | (46772) | 82130 | 89477 | (35319) |
| Net (loss) income | $(36280) | $21533 | $28616 | $20552 |
| Net loss (income) attributable to non-controlling interests | 516 | (316) | (312) | (254) |
| Net (loss) income attributable to common stockholders | $(35764) | $21217 | $28304 | $20298 |
| G&A SYNERGIES |  |  |  |  |
|  | QUARTERLY | ANNUALIZED |  |  |
| Q2 combined normalized | $23083 | $92332 |  |  |
| Q4 2022 | 14417 | 57668 |  |  |
| Synergies realized | (8666) | (34664) |  |  |

---

1On July 20, 2022, Legacy HR and Legacy HTA closed the merger of the two companies, in which Legacy HR was the acquirer under GAAP. Accordingly, the historic financial statements of the combined company are those of Legacy HR. Unless otherwise noted, third quarter data is for the combined company, whether on an actual or pro forma basis.

2Includes third party and travel costs related to the pursuit of acquisitions and developments.

 <br> HEALTHCARE REALTY TRUST INCORPORATED HEALTHCAREREALTY.COM \| PAGE 5 OF 7

------

Reconciliation of FFO, Normalized FFO and FAD <sup>1,2,3</sup> <br> DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | 3Q 2022 <sup>6</sup> | 3Q 2022 <sup>6</sup> | 2Q 2022 |
| | 4Q 2022 | PROFORMA FULL QUARTER | AS REPORTED | COMBINED |
| Net (loss) income attributable to common stockholders | $(35764) | $21217 | $28304 | $20298 |
| Gain on sales of real estate assets | (73083) | (143908) | (143908) | (8496) |
| Impairments of real estate assets | 54452 |  |  |  |
| Real estate depreciation and amortization | 186658 | 188131 | 159643 | 131778 |
| Non-controlling (loss) income from partnership units | (382) | 316 | 377 | 254 |
| Unconsolidated JV depreciation and amortization | 4020 | 3526 | 3526 | 3295 |
| FFO | $135901 | $69282 | $47942 | $147129 |
| Acquisition and pursuit costs <sup>4</sup> | 92 | 482 | 482 | 1449 |
| Merger-related costs  | 10777 | 79402 | 79402 | 12192 |
| Lease intangible amortization | 137 | 127 | (2) | 815 |
| Non-routine legal costs/forfeited earnest money received <sup>5</sup> | 194 | 346 | 346 | 1842 |
| Debt financing costs | 625 | 1091 | 1091 | 4716 |
| Merger-related fair value adjustment <sup>6</sup> | 11979 | 11844 | 9269 |  |
| Unconsolidated JV normalizing items <sup>7</sup> | 96 | 154 | 154 | 83 |
| Normalized FFO | $159801 | $162728 | $138684 | $168226 |
| Non-real estate depreciation and amortization | 624 | 577 | 577 | 1780 |
| Non-cash interest amortization <sup>8</sup> | 2284 | 1869 | 1387 | 747 |
| Provision for bad debt, net | (100) | 457 | 457 | 16 |
| Straight-line rent income, net | (9873) | (9908) | (7715) | (3743) |
| Stock-based compensation | 3573 | 3666 | 3666 | 5547 |
| Unconsolidated JV non-cash items <sup>9</sup> | (316) | (377) | (377) | (242) |
| Normalized FFO adjusted for non-cash items | 155993 | 159012 | 136679 | 172331 |
| &nbsp;&nbsp;&nbsp;2nd generation TI | (13523) | (11763) | (10147) | (13635) |
| &nbsp;&nbsp;&nbsp;Leasing commissions paid | (7404) | (8739) | (8283) | (7251) |
| &nbsp;&nbsp;&nbsp;Capital expenditures | (25669) | (17461) | (16067) | (11726) |
| Total maintenance capex | (46596) | (37963) | (34497) | (32612) |
| FAD | $109397 | $121049 | $102182 | $139719 |
| **Quarterly dividends** <sup>10</sup> | $118070 | $119194 | $103174 | $122862 |
| **FFO per common share - diluted** | $0.35 | $0.18 | $0.14 | $0.38 |
| Normalized FFO per common share - diluted | $0.42 | $0.42 | $0.42 | $0.44 |
| **FFO wtd avg common shares outstanding - diluted** <sup>11</sup> | 383228 | 384615 | 332819 | 383670 |

---

1On July 20, 2022, Legacy HR and HTA closed the merger of the two companies, in which Legacy HR was the acquirer under GAAP. Accordingly, the historic financial statements of the combined company are those of Legacy HR. Unless otherwise noted, third quarter data is for the combined company, whether on an actual or pro forma basis.

2Funds from operations ("FFO") and FFO per share are operating performance measures adopted by the NAREIT. NAREIT defines FFO as "net income (computed in accordance with GAAP) excluding depreciation and amortization related to real estate, gains and losses from the sale of certain real estate assets, gains and losses from change in control, and impairment write-downs of certain real assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity."

3FFO, Normalized FFO and Funds Available for Distribution ("FAD") do not represent cash generated from operating activities determined in accordance with GAAP and is not necessarily indicative of cash available to fund cash needs. FFO, Normalized FFO and FAD should not be considered alternatives to net income attributable to common stockholders as indicators of the Company's operating performance or as alternatives to cash flow as measures of liquidity.

4Acquisition and pursuit costs include third party and travel costs related to the pursuit of acquisitions and developments.

5Non-routine legal costs include expenses related to two separate disputes: one with a contractor on a $61.1 million completed construction project and another with a tenant on a violation of use restrictions. Forfeited earnest money received related to a disposition that did not materialize.

6Beginning in the fourth quarter, the Company adjusted normalized FFO for the impact of the merger-related fair value debt adjustment. Prior periods were adjusted for consistency.

7Includes the Company's proportionate share of normalizing items related to unconsolidated joint ventures such as lease intangibles and acquisition and pursuit costs.

8Includes the amortization of deferred financing costs, discounts and premiums, and non-cash financing receivable amortization.

9Includes the Company's proportionate share of straight-line rent, net and provision for bad debt, net related to unconsolidated joint ventures.

10Quarterly dividends for the third quarter represent dividends at the current rate of $0.31 per share multiplied by the weighted average shares outstanding. Actual dividends paid in the third quarter were $72.1 million.

11The Company utilizes the treasury stock method which includes the dilutive effect of nonvested share-based awards outstanding of 515,352 for the three months ended December 31, 2022. Also includes the diluted impact of 4,042,993 OP units outstanding.

 <br> HEALTHCARE REALTY TRUST INCORPORATED HEALTHCAREREALTY.COM \| PAGE 6 OF 7

------

---

| |
|:---|
| Reconciliation of Non-GAAP Measures |
| DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA - UNAUDITED |

---

Management considers funds from operations ("FFO"), FFO per share, normalized FFO, normalized FFO per share, funds available for distribution ("FAD") to be useful non-GAAP measures of the Company's operating performance. A non-GAAP financial measure is generally defined as one that purports to measure historical financial performance, financial position or cash flows, but excludes or includes amounts that would not be so adjusted in the most comparable measure determined in accordance with GAAP. Set forth below are descriptions of the non-GAAP financial measures management considers relevant to the Company's business and useful to investors.

The non-GAAP financial measures presented herein are not necessarily identical to those presented by other real estate companies due to the fact that not all real estate companies use the same definitions. These measures should not be considered as alternatives to net income (determined in accordance with GAAP), as indicators of the Company's financial performance, or as alternatives to cash flow from operating activities (determined in accordance with GAAP) as measures of the Company's liquidity, nor are these measures necessarily indicative of sufficient cash flow to fund all of the Company's needs.

FFO and FFO per share are operating performance measures adopted by the National Association of Real Estate Investment Trusts, Inc. ("NAREIT"). NAREIT defines FFO as "net income (computed in accordance with GAAP) excluding depreciation and amortization related to real estate, gains and losses from the sale of certain real estate assets, gains and losses from change in control, and impairment write-downs of certain real assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity." The Company defines Normalized FFO as FFO excluding acquisition-related expenses, lease intangible amortization and other normalizing items that are unusual and infrequent in nature. FAD is presented by adding to Normalized FFO non-real estate depreciation and amortization, deferred financing fees amortization, share-based compensation expense and provision for bad debts, net; and subtracting maintenance capital expenditures, including second generation tenant improvements and leasing commissions paid and straight-line rent income, net of expense. The Company's definition of these terms may not be comparable to that of other real estate companies as they may have different methodologies for computing these amounts. FFO, Normalized FFO and FAD do not represent cash generated from operating activities determined in accordance with GAAP and are not necessarily indicative of cash available to fund cash needs. FFO, Normalized FFO and FAD should not be considered an alternative to net income as an indicator of the Company's operating performance or as an alternative to cash flow as a measure of liquidity. FFO, Normalized FFO and FAD should be reviewed in connection with GAAP financial measures.

Management believes FFO, FFO per share, Normalized FFO, Normalized FFO per share, and FAD provide an understanding of the operating performance of the Company's properties without giving effect to certain significant non-cash items, including depreciation and amortization expense. Historical cost accounting for real estate assets in accordance with GAAP assumes that the value of real estate assets diminishes predictably over time. However, real estate values instead have historically risen or fallen with market conditions. The Company believes that by excluding the effect of depreciation, amortization, gains or losses from sales of real estate, and other normalizing items that are unusual and infrequent, FFO, FFO per share, Normalized FFO, Normalized FFO per share and FAD can facilitate comparisons of operating performance between periods. The Company reports these measures because they have been observed by management to be the predominant measures used by the REIT industry and by industry analysts to evaluate REITs and because these measures are consistently reported, discussed, and compared by research analysts in their notes and publications about REITs.

Cash NOI and Same Store Cash NOI are key performance indicators. Management considers these to be supplemental measures that allow investors, analysts and Company management to measure unlevered property-level operating results. The Company defines Cash NOI as rental income and less property operating expenses. Cash NOI excludes non-cash items such as above and below market lease intangibles, straight-line rent, lease inducements, lease termination fees, tenant improvement amortization and leasing commission amortization. Cash NOI is historical and not necessarily indicative of future results.

Same Store Cash NOI compares Cash NOI for stabilized properties. Stabilized properties are properties that have been included in operations for the duration of the year-over-year comparison period presented. Accordingly, stabilized properties exclude properties that were recently acquired or disposed of, properties classified as held for sale, properties undergoing redevelopment, and newly redeveloped or developed properties.

The Company utilizes the redevelopment classification for properties where management has approved a change in strategic direction for such properties through the application of additional resources including an amount of capital expenditures significantly above routine maintenance and capital improvement expenditures. These properties are described in additional detail in Footnote 6 to the Condensed Consolidated Financial Statements.

Any recently acquired property will be included in the same store pool once the Company has owned the property for eight full quarters. Newly developed or redeveloped properties will be included in the same store pool eight full quarters after substantial completion.

 <br> HEALTHCARE REALTY TRUST INCORPORATED HEALTHCAREREALTY.COM \| PAGE 7 OF 7

## Exhibit 99.2

---

| |
|:---|
| 4Q2022 |
| Supplemental Information |
| FURNISHED AS OF MARCH 1, 2023 - UNAUDITED |
| ![hrlogo-rgb.jpg](hrlogo-rgb.jpg) |

---

------

FORWARD LOOKING STATEMENTS & RISK FACTORS <br>

This Supplemental Information report contains disclosures that are "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts and can be identified by the use of words and phrases such as "can," "may," "payable," "indicative," "predictive," "annualized," "expect," "expected," "range of expectations," "would have been," "budget," and other comparable terms in this report, and include, but are not limited to, statements related to the merger between Healthcare Realty Trust Incorporated ("Legacy HR" and, after the closing of the merger, the "Company" or "HR") and Healthcare Trust of America, Inc. ("HTA") that closed on July 20, 2022 (the "Merger"). These forward-looking statements are made as of the date of this report and are not necessarily indicative of future performance. These statements are based on the current plans and expectations of Company management and are subject to a number of unknown risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those described in this release or implied by such forward-looking statements. Such risks and uncertainties include, among other things, the following: failure to realize the expected benefits of the Merger; the risk that the Company's and HTA's respective businesses will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; risks related to future opportunities and plans for the Company, including the uncertainty of expected future financial performance and results of the Company; the possibility that, if the Company does not achieve the perceived benefits of the Merger as rapidly or to the extent anticipated by financial analysts or investors, the market price of the Company's common stock could decline; pandemics or other health crises, such as COVID-19; increases in interest rates; the availability and cost of capital at expected rates; competition for quality assets; negative developments in the operating results or financial condition of the Company's tenants, including, but not limited to, their ability to pay rent; the Company's ability to reposition or sell facilities with profitable results; the Company's ability to release space at similar rates as vacancies occur; the Company's ability to renew expiring leases; government regulations affecting tenants' Medicare and Medicaid reimbursement rates and operational requirements; unanticipated difficulties and/or expenditures relating to future acquisitions and developments; changes in rules or practices governing the Company's financial reporting; the Company may be required under purchase options to sell properties and may not be able to reinvest the proceeds from such sales at rates of return equal to the return received on the properties sold; uninsured or underinsured losses related to casualty or liability; the incurrence of impairment charges on its real estate properties or other assets; and other legal and operational matters. Other risks, uncertainties and factors that could cause actual results to differ materially from those projected are detailed under the heading "Risk Factors," in the Annual Reports on Form 10-K filed with the Securities and Exchange Commission ("SEC") for the year ended December 31, 2022, under the heading "Risk Factors" and other risks described from time to time thereafter in the Legacy HR's. HTA's, and the Company's SEC filings. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

------

**Table of Contents**

---

| | |
|:---|:---|
| [4](#i0d065b2d4cc94561ad8d38a7cc40ded4_13) | Highlights |
| [6](#i0d065b2d4cc94561ad8d38a7cc40ded4_16) | Salient Facts |
| [7](#i0d065b2d4cc94561ad8d38a7cc40ded4_19) | Corporate Information |
| [8](#i0d065b2d4cc94561ad8d38a7cc40ded4_22) | Balance Sheet |
| [9](#i0d065b2d4cc94561ad8d38a7cc40ded4_25) | Statements of Income |
| [10](#i0d065b2d4cc94561ad8d38a7cc40ded4_28) | FFO, Normalized FFO, & FAD |
| [11](#i0d065b2d4cc94561ad8d38a7cc40ded4_31) | Capital Funding & Commitments |
| [12](#i0d065b2d4cc94561ad8d38a7cc40ded4_34) | Debt Metrics |
| [13](#i0d065b2d4cc94561ad8d38a7cc40ded4_37) | Debt Covenants & Liquidity |
| [14](#i0d065b2d4cc94561ad8d38a7cc40ded4_40) | Disposition Activity |
| 15 | Acquisition Activity |
| [16](#i0d065b2d4cc94561ad8d38a7cc40ded4_43) | Re/development Activity |
| [17](#i0d065b2d4cc94561ad8d38a7cc40ded4_46) | Portfolio |
| [18](#i0d065b2d4cc94561ad8d38a7cc40ded4_49) | Health Systems |
| [19](#i0d065b2d4cc94561ad8d38a7cc40ded4_55) | MOB Proximity to Hospital |
| [20](#i0d065b2d4cc94561ad8d38a7cc40ded4_58) | Lease Maturity & Occupancy |
| [21](#i0d065b2d4cc94561ad8d38a7cc40ded4_70) | Leasing Statistics |
| [22](#i0d065b2d4cc94561ad8d38a7cc40ded4_73) | NOI Performance |
| [23](#i0d065b2d4cc94561ad8d38a7cc40ded4_76) | NOI Reconciliations |
| 25 | EBITDA Reconciliations |
| 26 | Components of Net Asset Value |
| [27](#i0d065b2d4cc94561ad8d38a7cc40ded4_88) | Components of Expected FFO |

---

Copies of this report may be obtained at www.healthcarerealty.com or by contacting Investor Relations at 615.269.8175 or communications@healthcarerealty.com.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 3

------

Highlights

QUARTERLY HIGHLIGHTS <br>

• Net loss attributable to common stockholders for the three months ended December 31, 2022 was $35.8 million or $0.09 per diluted common share.

• Normalized FFO per share totaled $0.42

• Same store cash NOI, including the Company's share of joint ventures, for the fourth quarter increased 2.8% over the prior year. For the trailing twelve months ended December 31, 2022, same store cash NOI, including the Company's share of joint ventures, grew 2.6%.

• Predictive growth measures in the same store portfolio include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Average in-place rent increases of 2.81%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Future annual contractual increases of 2.9% for leases commencing in the quarter excluding one lease with no escalators to facilitate a multi-year build out period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Weighted average cash leasing spreads of 3.5% on 623,000 square feet renewed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 7% (<0% spread)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 13% (0-3%)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 66% (3-4%)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 14% (>4%)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Tenant retention of 75.7%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Year-over-year occupancy increased 169,000 square feet, or 50 basis points, to 89.3%. Sequential occupancy increased 59,000 square feet, or 20 basis points.

• Portfolio leasing activity in the fourth quarter totaled 1,113,000 square feet related to 336 leases:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ 671,000 square feet of renewals

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ 442,000 square feet of new and expansion leases

• The Company's fourth quarter G&A expense of $14.4 million compares to normalized combined second quarter G&A of $23.1 million. This $35 million annualized reduction of G&A achieves the targeted $33-$36 million of synergies expected from the merger. Further G&A synergies are expected to be more than offset by normal G&A growth.

• In 2022, the Company closed on joint ventures and asset sale transactions totaling $1.25 billion at a weighted average cap rate of 4.8%.

• Since year end, the Company closed on additional asset sales of $112.8 million. These sales bring the cumulative net proceeds since the merger closing in July 2022 to $1.125 billion. These proceeds fully complete the funding of the merger-related special dividend that was paid in July 2022.

• In the fourth quarter, the Company acquired interests in four medical office buildings totaling 76,000 square feet for $26.4 million at a 6.5% cap rate. The properties are all located in existing markets and expand clusters in high growth markets, including Austin, Denver, Houston and Jacksonville.

• In the fourth quarter, the Company entered into new interest rate swaps totaling $550 million. In January 2023, $300 million of interest rate swaps expired. In February 2023, $50 million of new swaps were initiated bringing proforma fixed rate debt to approximately 85% of total debt.

• Net debt to adjusted EBITDA on a proforma run-rate basis was 6.4 times at the end of the quarter. For a reconciliation to expected run-rate amounts, see the section below.

• A dividend of $0.31 per share will be paid on March 21, 2023 to stockholders of record on March 7, 2023.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 4

------

RUN-RATE ADJUSTED EBITDA, NORMALIZED FFO AND FAD <br>

The following table provides a reconciliation of the current quarter full proforma normalized FFO, FAD and Adjusted EBITDA to an expected quarterly run-rate. The expected run-rates do not adjust for future changes in interest rates, portfolio NOI growth, or external investment activity. The expected run-rates also do not include any dispositions beyond those expected to repay the $1.125 billion asset sale term loan.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | NORMALIZED FFO | FAD | ADJUSTED EBITDA | NET DEBT |
| Q4 2022 | $159801 | $109397 | $214909 | $5607661 |
| Q4 NOI acquisition/disposition timing impact <sup>1,2</sup> | (2255) | (1704) |  |  |
| NOI adjustment for January 2023 asset sales <sup>1</sup> | (1801) | (1761) | (1801) | (112460) |
| Q4 asset sale term loan interest paid | 3280 | 3280 |  |  |
| Normalized maintenance capex adjustment <sup>3</sup> |  | 10403 |  |  |
| Adjusted run-rate | $159025 | $119615 | $213108 | $5495201 |
| Per share | $0.41 | $0.31 |  |  |
| **Net debt to adjusted EBITDA** |  |  |  | 6.4x |
| **FFO wtd avg common shares outstanding - diluted**  | 383228 | 383228 |  |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| PROFORMA MAINTENANCE CAPITAL EXPENDITURES FUNDING | PROFORMA MAINTENANCE CAPITAL EXPENDITURES FUNDING | PROFORMA MAINTENANCE CAPITAL EXPENDITURES FUNDING | PROFORMA MAINTENANCE CAPITAL EXPENDITURES FUNDING | PROFORMA MAINTENANCE CAPITAL EXPENDITURES FUNDING | PROFORMA MAINTENANCE CAPITAL EXPENDITURES FUNDING |
|  | 2022 PROFORMA | 4Q 2022 | PROFORMA 3Q 2022 | COMBINED COMPANY 2Q 2022 | COMBINED COMPANY 1Q 2022 |
| 2nd generation TI | $54309 | $13523 | $11763 | $13635 | $15388 |
| Leasing commissions paid | 31992 | 7404 | 8739 | 7251 | 8598 |
| Capital expenditures | 64011 | 25669 | 17461 | 11726 | 9155 |
|  | $150312 | $46596 | $37963 | $32612 | $33141 |
| % of Cash NOI | % of Cash NOI | % of Cash NOI | % of Cash NOI | % of Cash NOI | % of Cash NOI |
| 2nd generation TI | 6.2% | 6.4% | 5.5% | 6.0% | 6.9% |
| Leasing commissions paid | 3.6% | 3.5% | 4.1% | 3.2% | 3.9% |
| Capital expenditures | 7.3% | 12.1% | 8.1% | 5.2% | 4.1% |
|  | 17.1% | 22.0% | 17.7% | 14.4% | 14.9% |
| FAD | $505271 |  |  |  |  |
| 2022 Average of quarterly wtd average common shares outstanding - diluted | $383592 |  |  |  |  |
| 2022 Dividend per share | $1.24 |  |  |  |  |
| Proforma dividends | $475654 |  |  |  |  |
| Proforma Payout Ratio | 94.1% |  |  |  |  |

---

1FFO and EBITDA includes the impact of straight-line rent.

2Adjustments to reflect quarterly NOI/EBITDA from properties acquired or disposed of in the quarter.

3Quarterly maintenance capex as a percentage of NOI was 22%. Full year maintenance cap ex was 17.1% on a combined company basis. Adjustment reflects a reduction to maintenance capex to be consistent with full year 2022.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 5

------

Salient Facts <sup>1</sup> <br> AS OF DECEMBER 31, 2022

---

| | |
|:---|:---|
| Properties | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
|  | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
| 721 properties totaling 42.3M SF | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
| 71 markets in 35 states | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
| 93% managed by Healthcare Realty | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
| 92% medical office and outpatient | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
| 61% of NOI in Top 15 Markets | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
|  | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
|  | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
| Capitalization | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
|  | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
| $13.0B enterprise value as of 12/31/22 | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
| $7.4B market capitalization as of 12/31/22 | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
| 384.6M shares outstanding (including OP units) | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
| $0.31 quarterly dividend per share | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
| BBB/Baa2 S&P/Moody's | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
| 43.1% net debt to enterprise value at 12/31/22 | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
| 6.4x net debt to adjusted EBITDA | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |
|  | ![salientfacts-graphsxq42022.jpg](salientfacts-graphsxq42022.jpg) |

---

![salientfacts-mapxq42022.jpg](salientfacts-mapxq42022.jpg)

1 Includes properties held in joint ventures.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 6

------

Corporate Information

Healthcare Realty Trust is a real estate investment trust that integrates owning, managing, financing and developing income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States. As of December 31, 2022, the Company was invested in 721 real estate properties in 35 states totaling 42.3 million square feet and had an enterprise value of approximately $13.0 billion, defined as equity market capitalization plus the principal amount of debt less cash. The Company provided leasing and property management services to 93% of its portfolio.

---

| |
|:---|
| EXECUTIVE OFFICERS |
| Todd J. Meredith |
| President and Chief Executive Officer |
| John M. Bryant, Jr. |
| Executive Vice President and General Counsel |
| J. Christopher Douglas |
| Executive Vice President and Chief Financial Officer |
| Robert E. Hull |
| Executive Vice President - Investments |
| Julie F. Wilson |
| Executive Vice President - Operations |

---

---

| |
|:---|
| ANALYST COVERAGE |
| Barclays Research |
| BMO Capital Markets |
| BTIG, LLC |
| Citi Research |
| Credit Suisse Securities (USA) LLC |
| Green Street Advisors, Inc. |
| J.P. Morgan Securities LLC |
| Jefferies LLC |
| KeyBanc Capital Markets Inc. |
| Raymond James & Associates |
| Scotiabank |
| SMBC Nikko Securities America, Inc. |
| Stifel, Nicolaus & Company, Inc. |

---

BOARD OF DIRECTORS <br>

J. Knox Singleton&nbsp;&nbsp;&nbsp;&nbsp;

Chairman, Healthcare Realty Trust Incorporated

Retired Chief Executive Officer, Inova Health System

W. Bradley Blair, II

Vice Chairman, Healthcare Realty Trust Incorporated

Retired Chairman, Healthcare Trust of America

Todd J. Meredith

President and Chief Executive Officer

Healthcare Realty Trust Incorporated

John V. Abbott

Retired Chief Executive Officer

Aviation Asset Management Group, General Electric Company

Nancy H. Agee

President and Chief Executive Officer

Carilion Clinic

Vicki U. Booth

President and Board Chair

Ueberroth Family Foundation

Edward H. Braman

Retired Audit Partner

Ernst & Young LLP

Ajay Gupta

Chief Executive Officer

Physician Rehabilitation Network

James J. Kilroy

President and Portfolio Manager

Willis Investment Counsel

Jay P. Leupp

Managing Partner and Senior Portfolio Manager

Terra Firma Asset Management, LLC

Peter F. Lyle

Executive Vice President

Medical Management Associates, Inc.

Constance B. Moore

Retired President and CEO

BRE Properties, Inc.

Christann M. Vasquez

Executive Vice President and Chief Operating Officer

Ascension Texas

David R. Emery (1944-2019)

Chairman Emeritus

Healthcare Realty Trust Incorporated

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 7

------

---

| |
|:---|
| Balance Sheet |
| AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA |

---

---

| | | | |
|:---|:---|:---|:---|
| ASSETS |  |  |  |
|  | Post-merger | Post-merger | Pre-merger Combined |
|  | 4Q 2022 | 3Q 2022 | 2Q 2022 |
| Real estate properties |  |  |  |
| Land | $1439798 | $1449550 | $1104700 |
| Buildings and improvements | 11332037 | 11439797 | 11447844 |
| Lease intangibles | 959998 | 968914 | 382738 |
| Personal property | 11907 | 11680 | 11799 |
| Investment in financing receivables, net | 120236 | 118919 | 118446 |
| Financing lease right-of-use assets | 83824 | 79950 | 71632 |
| Construction in progress | 35560 | 43148 | 31980 |
| Land held for development | 74265 | 73321 | 22952 |
| Total real estate investments | 14057625 | 14185279 | 13192091 |
| Less accumulated depreciation and amortization | (1645271) | (1468736) | (3102055) |
| Total real estate investments, net | 12412354 | 12716543 | 10090036 |
| Cash and cash equivalents | 60961 | 57583 | 64026 |
| Restricted cash |  |  | 4559 |
| Assets held for sale, net | 18893 | 185074 |  |
| Operating lease right-of-use assets | 336983 | 321365 | 353807 |
| Investments in unconsolidated joint ventures | 327248 | 327752 | 272851 |
| Other assets, net and goodwill | 693192 | 587126 | 578948 |
| Total assets | $13849631 | $14195443 | $11364227 |
| LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |
|  | Post-merger | Post-merger | Pre-merger Combined |
|  | 4Q 2022 | 3Q 2022 | 2Q 2022 |
| Liabilities |  |  |  |
| Notes and bonds payable | $5351827 | $5570139 | $5158398 |
| Accounts payable and accrued liabilities | 244033 | 231018 | 255883 |
| Liabilities of properties held for sale | 437 | 10644 |  |
| Operating lease liabilities | 279895 | 268840 | 291739 |
| Financing lease liabilities | 72939 | 72378 | 62195 |
| Other liabilities | 218668 | 203398 | 176844 |
| Total liabilities | 6167799 | 6356417 | 5945059 |
| Redeemable non-controlling interests | 2014 |  |  |
| Stockholders' equity |  |  |  |
| Preferred stock, $0.01 par value; 200,000 shares authorized |  |  |  |
| Common stock, $0.01 par value; 1,000,000 shares authorized | 3806 | 3806 | 3807 |
| Additional paid-in capital | 9587637 | 9586556 | 9185292 |
| Accumulated other comprehensive income | 2140 | 5524 | 4536 |
| Cumulative net income attributable to common stockholders | 1307055 | 1342819 | 1314515 |
| Cumulative dividends <sup>1</sup> | (3329562) | (3211492) | (5171621) |
| Total stockholders' equity | 7571076 | 7727213 | 5336529 |
| Non-controlling interest | 108742 | 111813 | 82639 |
| Total Equity | 7679818 | 7839026 | 5419168 |
| Total liabilities and stockholders' equity | $13849631 | $14195443 | $11364227 |

---

1Includes HTA's cumulative dividends in excess of earnings.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 8

------

---

| |
|:---|
| Statements of Income<sup>1</sup> |
| DOLLARS IN THOUSANDS |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | 3Q 2022 | 3Q 2022 | 2Q 2022 |
| | 4Q 2022 | PROFORMA FULL QUARTER | AS REPORTED | PRE-MERGER COMBINED |
| Revenues |  |  |  |  |
| Rental income | $329399 | $344251 | $298931 | $338916 |
| Interest income | 4227 | 3750 | 3366 | 1957 |
| Other operating | 4436 | 4057 | 4057 | 4587 |
|  | 338062 | 352058 | 306354 | 345460 |
| Expenses |  |  |  |  |
| Property operating | 117009 | 127172 | 112473 | 120383 |
| General and administrative | 14417 | 18956 | 16741 | 24783 |
| Acquisition and pursuit costs <sup>2</sup> | 92 | 482 | 482 | 1449 |
| Merger-related costs | 10777 | 79402 | 79402 | 12192 |
| Depreciation and amortization | 185275 | 186643 | 158117 | 130782 |
|  | 327570 | 412655 | 367215 | 289589 |
| Other income (expense) |  |  |  |  |
| Interest expense before merger-related fair value | (52464) | ($48547) | ($43775) | ($40303) |
| &nbsp;&nbsp;*Merger-related fair value adjustment* | *(11979)* | *(11844)* | *(9269)* | *—* |
| Interest expense | (64443) | (60391) | (53044) | (40303) |
| Gain on sales of real estate properties | 73083 | 143908 | 143908 | 8496 |
| Gain (loss) on extinguishment of debt | 119 | (1091) | (1091) | (3615) |
| Impairment of real estate assets | (54452) |  |  |  |
| Equity gain (loss) from unconsolidated joint ventures | 89 | (124) | (124) | 94 |
| Interest and other (expense) income, net | (1168) | (172) | (172) | 9 |
|  | (46772) | 82130 | 89477 | (35319) |
| Net (loss) income | $(36280) | $21533 | $28616 | $20552 |
| Net loss (income) attributable to non-controlling interests | 516 | (316) | (312) | (254) |
| Net (loss) income attributable to common stockholders | $(35764) | $21217 | $28304 | $20298 |
| G&A SYNERGIES |  |  |  |  |
|  | QUARTERLY | ANNUALIZED |  |  |
| Q2 combined normalized | $23083 | $92332 |  |  |
| Q4 2022 | 14417 | 57668 |  |  |
| Synergies realized | (8666) | (34664) |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;

1On July 20, 2022, Legacy HR and HTA closed the merger of the two companies, in which Legacy HR was the acquirer under GAAP. Accordingly, the historic financial statements of the combined company are those of Legacy HR. Unless otherwise noted, third and fourth quarter data is for the combined company, whether on an actual or pro forma basis.

2Includes third party and travel costs related to the pursuit of acquisitions and developments.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 9

------

---

| |
|:---|
| FFO, Normalized FFO, & FAD <sup>1,2,3</sup> |
| DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | 3Q 2022 <sup>6</sup> | 3Q 2022 <sup>6</sup> | 2Q 2022 |
| | 4Q 2022 | PROFORMA FULL QUARTER | AS REPORTED | COMBINED |
| Net (loss) income attributable to common stockholders | $(35764) | $21217 | $28304 | $20298 |
| Gain on sales of real estate assets | (73083) | (143908) | (143908) | (8496) |
| Impairments of real estate assets | 54452 |  |  |  |
| Real estate depreciation and amortization | 186658 | 188131 | 159643 | 131778 |
| Non-controlling (loss) income from partnership units | (382) | 316 | 377 | 254 |
| Unconsolidated JV depreciation and amortization | 4020 | 3526 | 3526 | 3295 |
| FFO | $135901 | $69282 | $47942 | $147129 |
| Acquisition and pursuit costs <sup>4</sup> | 92 | 482 | 482 | 1449 |
| Merger-related costs  | 10777 | 79402 | 79402 | 12192 |
| Lease intangible amortization | 137 | 127 | (2) | 815 |
| Non-routine legal costs/forfeited earnest money received <sup>5</sup> | 194 | 346 | 346 | 1842 |
| Debt financing costs | 625 | 1091 | 1091 | 4716 |
| Merger-related fair value adjustment <sup>6</sup> | 11979 | 11844 | 9269 |  |
| Unconsolidated JV normalizing items <sup>7</sup> | 96 | 154 | 154 | 83 |
| Normalized FFO  | $159801 | $162728 | $138684 | $168226 |
| Non-real estate depreciation and amortization | 624 | 577 | 577 | 1780 |
| Non-cash interest amortization <sup>8</sup> | 2284 | 1869 | 1387 | 747 |
| Provision for bad debt, net | (100) | 457 | 457 | 16 |
| Straight-line rent income, net | (9873) | (9908) | (7715) | (3743) |
| Stock-based compensation | 3573 | 3666 | 3666 | 5547 |
| Unconsolidated JV non-cash items <sup>9</sup> | (316) | (377) | (377) | (242) |
| Normalized FFO adjusted for non-cash items | 155993 | 159012 | 136679 | 172331 |
| &nbsp;&nbsp;&nbsp;2nd generation TI | (13523) | (11763) | (10147) | (13635) |
| &nbsp;&nbsp;&nbsp;Leasing commissions paid | (7404) | (8739) | (8283) | (7251) |
| &nbsp;&nbsp;&nbsp;Capital expenditures | (25669) | (17461) | (16067) | (11726) |
| Total maintenance capex | (46596) | (37963) | (34497) | (32612) |
| FAD | $109397 | $121049 | $102182 | $139719 |
| **Quarterly dividends** <sup>10</sup> | $118070 | $119194 | $103174 | $122862 |
| **FFO per common share - diluted** | $0.35 | $0.18 | $0.14 | $0.38 |
| Normalized FFO per common share - diluted | $0.42 | $0.42 | $0.42 | $0.44 |
| **FFO wtd avg common shares outstanding - diluted** <sup>11</sup> | 383228 | 384615 | 332819 | 383670 |

---

1On July 20, 2022, Legacy HR and HTA closed the merger of the two companies, in which Legacy HR was the acquirer under GAAP. Accordingly, the historic financial statements of the combined company are those of Legacy HR. Unless otherwise noted, third quarter data is for the combined company, whether on an actual or pro forma basis.

2Funds from operations ("FFO") and FFO per share are operating performance measures adopted by the NAREIT. NAREIT defines FFO as "net income (computed in accordance with GAAP) excluding depreciation and amortization related to real estate, gains and losses from the sale of certain real estate assets, gains and losses from change in control, and impairment write-downs of certain real assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity."

3FFO, Normalized FFO and Funds Available for Distribution ("FAD") do not represent cash generated from operating activities determined in accordance with GAAP and is not necessarily indicative of cash available to fund cash needs. FFO, Normalized FFO and FAD should not be considered alternatives to net income attributable to common stockholders as indicators of the Company's operating performance or as alternatives to cash flow as measures of liquidity.

4Acquisition and pursuit costs include third party and travel costs related to the pursuit of acquisitions and developments.

5Non-routine legal costs include expenses related to two separate disputes: one with a contractor on a $61.1 million completed construction project and another with a tenant on a violation of use restrictions. Forfeited earnest money received related to a disposition that did not materialize.

6Beginning in the fourth quarter, the Company adjusted normalized FFO for the impact of the merger-related fair value debt adjustment. Prior periods were adjusted for consistency.

7Includes the Company's proportionate share of normalizing items related to unconsolidated joint ventures such as lease intangibles and acquisition and pursuit costs.

8Includes the amortization of deferred financing costs, discounts and premiums, and non-cash financing receivable amortization.

9Includes the Company's proportionate share of straight-line rent, net and provision for bad debt, net related to unconsolidated joint ventures.

10Quarterly dividends for the third quarter represent dividends at the current rate of $0.31 per share multiplied by the weighted average shares outstanding. Actual dividends paid in the third quarter were $72.1 million.

11The Company utilizes the treasury stock method which includes the dilutive effect of nonvested share-based awards outstanding of 515,352 for the three months ended December 31, 2022. Also includes the diluted impact of 4,042,993 OP units outstanding.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 10

------

---

| |
|:---|
| Capital Funding & Commitments <sup>1</sup> |
| DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ACQUISITION AND RE/DEVELOPMENT FUNDING | ACQUISITION AND RE/DEVELOPMENT FUNDING | ACQUISITION AND RE/DEVELOPMENT FUNDING | ACQUISITION AND RE/DEVELOPMENT FUNDING | ACQUISITION AND RE/DEVELOPMENT FUNDING | ACQUISITION AND RE/DEVELOPMENT FUNDING |
|  | 4Q 2022 | PROFORMA 3Q 2022 | 2Q 2022 | 1Q 2022 | 4Q 2021 |
| Acquisitions <sup>2</sup> | $26388 | $91253 | $163762 | $172663 | $258072 |
| Re/development | 23372 | 31546 | 9387 | 7664 | 11767 |
| 1st generation TI & acquisition capex <sup>3</sup> | 21218 | 12596 | 8103 | 7473 | 7596 |
| MAINTENANCE CAPITAL EXPENDITURES FUNDING | MAINTENANCE CAPITAL EXPENDITURES FUNDING | MAINTENANCE CAPITAL EXPENDITURES FUNDING | MAINTENANCE CAPITAL EXPENDITURES FUNDING | MAINTENANCE CAPITAL EXPENDITURES FUNDING | MAINTENANCE CAPITAL EXPENDITURES FUNDING |
|  | 4Q 2022 | PROFORMA 3Q 2022 | 2Q 2022 | 1Q 2022 | 4Q 2021 |
| 2nd generation TI | $13523 | $11763 | $5051 | $4899 | $10207 |
| Leasing commissions paid | 7404 | 8739 | 3475 | 3767 | 2214 |
| Capital expenditures | 25669 | 17461 | 4557 | 2620 | 6043 |
|  | $46596 | $37963 | $13083 | $11286 | $18464 |
| % of Cash NOI | % of Cash NOI | % of Cash NOI | % of Cash NOI | % of Cash NOI | % of Cash NOI |
| 2nd generation TI | 6.4% | 5.5% | 5.6% | 5.6% | 12.1% |
| Leasing commissions paid | 3.5% | 4.1% | 3.9% | 4.3% | 2.6% |
| Capital expenditures | 12.1% | 8.1% | 5.1% | 3.0% | 7.2% |
|  | 22.0% | 17.7% | 14.6% | 12.9% | 21.9% |
| LEASING COMMITMENTS | LEASING COMMITMENTS | LEASING COMMITMENTS | LEASING COMMITMENTS | LEASING COMMITMENTS | LEASING COMMITMENTS |
|  | 4Q 2022 | PROFORMA 3Q 2022 | 2Q 2022 | 1Q 2022 | 4Q 2021 |
| Renewals |  |  |  |  |  |
| Square feet | 623363 | 632690 | 205400 | 260202 | 332819 |
| 2nd generation TI/square foot/lease year | $1.90 | $1.66 | $1.66 | $1.73 | $1.46 |
| Leasing commissions/square foot/lease year | $0.78 | $1.03 | $1.15 | $1.04 | $1.23 |
| Renewal commitments as a % of annual net rent | 11.7% | 10.5% | 11.4% | 11.0% | 11.4% |
| WALT (in months) <sup>4</sup> | 51.7 | 50.1 | 39.7 | 42.9 | 46.4 |
| New leases |  |  |  |  |  |
| Square feet | 297340 | 262904 | 79467 | 96001 | 109592 |
| 2nd generation TI/square foot/lease year | $6.25 | $4.84 | $7.07 | $5.93 | $5.44 |
| Leasing commissions/square foot/lease year | $1.49 | $1.39 | $1.65 | $1.90 | $1.84 |
| New lease commitments as a % of annual net rent | 36.2% | 28.1% | 40.6% | 32.2% | 34.2% |
| WALT (in months) <sup>4</sup> | 72.7 | 87.1 | 77.4 | 76.9 | 77.2 |
| All |  |  |  |  |  |
| Square feet | 920703 | 895594 | 284867 | 356203 | 442411 |
| Leasing commitments as a % of annual net rent | 21.0% | 16.9% | 22.6% | 19.2% | 18.8% |
| WALT (in months) <sup>4</sup> | 58.4 | 61.0 | 50.2 | 52.1 | 54.0 |

---

1On July 20, 2022, Legacy HR and HTA closed the merger of the two companies, in which Legacy HR was the acquirer under GAAP. Accordingly, the historic financial statements of the combined company are those of Legacy HR. Unless otherwise noted, third and fourth quarter data is for the combined company, whether on an actual or pro forma basis.

2Acquisitions include properties acquired through joint ventures at the Company's ownership percentage.

3Acquisition capex includes near-term fundings underwritten as part of recent acquisitions.

4WALT = weighted average lease term.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 11

------

---

| |
|:---|
| Debt Metrics<sup>1</sup> |
| DOLLARS IN THOUSANDS |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2022 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2022 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2022 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2022 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2022 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2022 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2022 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2022 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2022 |  |
|  | PRINCIPAL BALANCE | BALANCE <sup>2</sup> | MATURITY DATE | MONTHS TO MATURITY <sup>3</sup> | INTEREST EXPENSE | CONTRACTUAL INTEREST EXPENSE | CONTRACTUAL RATE | EFFECTIVE RATE | FAIR VALUE MERGER ADJUSTED |
| SENIOR NOTES | $250000 | $249115 | 5/1/2025 | 28 | $2470 | $2422 | 3.88% | 4.12% |  |
| SENIOR NOTES | 600000 | 571587 | 8/1/2026 | 43 | 7051 | 5250 | 3.50% | 4.94% | Y |
| SENIOR NOTES | 500000 | 479553 | 7/1/2027 | 54 | 5700 | 4687 | 3.75% | 4.76% | Y |
| SENIOR NOTES | 300000 | 296852 | 1/15/2028 | 61 | 2781 | 2719 | 3.63% | 3.85% |  |
| SENIOR NOTES | 650000 | 565402 | 2/15/2030 | 86 | 7466 | 5037 | 3.10% | 5.30% | Y |
| SENIOR NOTES | 299500 | 296385 | 3/15/2030 | 87 | 1930 | 1800 | 2.40% | 2.72% |  |
| SENIOR NOTES | 300000 | 295547 | 3/15/2031 | 99 | 1592 | 1538 | 2.05% | 2.25% |  |
| SENIOR NOTES | 800000 | 632693 | 3/15/2031 | 99 | 8074 | 4000 | 2.00% | 5.13% | Y |
|  | $3699500 | $3387134 |  | 71 | $37064 | $27453 | 2.97% | 4.43% |  |
| TERM LOANS | $350000 | $349114 | 7/20/2025 | 31 | $4192 | $4192 | SOFR + 1.05% | 5.17% |  |
| TERM LOANS | 200000 | 199670 | 5/31/2026 | 41 | 2385 | 2385 | SOFR + 1.05% | 5.17% |  |
| TERM LOANS | 150000 | 149495 | 6/1/2026 | 41 | 1789 | 1789 | SOFR + 1.05% | 5.17% |  |
| TERM LOANS | 300000 | 299936 | 10/31/2026 | 46 | 3578 | 3578 | SOFR + 1.05% | 5.17% |  |
| TERM LOANS | 200000 | 199362 | 7/1/2027 | 54 | 2385 | 2385 | SOFR + 1.05% | 5.17% |  |
| TERM LOANS | 300000 | 297869 | 1/12/2028 | 60 | 3578 | 3578 | SOFR + 1.05% | 5.17% |  |
|  | $1500000 | $1495446 |  | 45 | $17907 | $17907 |  | 5.17% |  |
| $1.5B CREDIT FACILITY | $385000 | $385000 | 10/31/2027 | 58 | $2759 | $2759 | SOFR + 0.95% | 5.27% |  |
| $1.125B ASSET SALE TERM | $— | $— | 7/19/2024 |  | $4362 | $3280 | SOFR + 1.05% |  | Y |
| MORTGAGES | $84122 | $84247 | various | 24 | $797 | $861 | 4.07% | 3.97% |  |
|  | $5668622 | $5351827 |  | 60 | $62889 | $52260 | 3.72% | 4.69% | $2550000 |
| Interest rate swaps | Interest rate swaps | Interest rate swaps | Interest rate swaps | Interest rate swaps | (3591) | (3591) |  |  |  |
| Interest cost capitalization | Interest cost capitalization | Interest cost capitalization | Interest cost capitalization | Interest cost capitalization | (561) |  |  |  |  |
| Unsecured credit facility fee & deferred financing costs | Unsecured credit facility fee & deferred financing costs | Unsecured credit facility fee & deferred financing costs | Unsecured credit facility fee & deferred financing costs | Unsecured credit facility fee & deferred financing costs | 2443 | 946 |  |  |  |
| Fair value derivative amortization | Fair value derivative amortization | Fair value derivative amortization | Fair value derivative amortization | Fair value derivative amortization | 2325 |  |  |  |  |
| Financing right-of-use asset amortization | Financing right-of-use asset amortization | Financing right-of-use asset amortization | Financing right-of-use asset amortization | Financing right-of-use asset amortization | 938 |  |  |  |  |
|  |  |  |  |  | $64443 | $49615 |  |  |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| DEBT MATURITIES SCHEDULE AS OF DECEMBER 31, 2022 | DEBT MATURITIES SCHEDULE AS OF DECEMBER 31, 2022 | DEBT MATURITIES SCHEDULE AS OF DECEMBER 31, 2022 | DEBT MATURITIES SCHEDULE AS OF DECEMBER 31, 2022 | DEBT MATURITIES SCHEDULE AS OF DECEMBER 31, 2022 | DEBT MATURITIES SCHEDULE AS OF DECEMBER 31, 2022 |
|  | PRINCIPAL PAYMENTS | PRINCIPAL PAYMENTS | PRINCIPAL PAYMENTS | PRINCIPAL PAYMENTS |  |
|  | BANK <br>LOANS | SENIOR NOTES | MORTGAGE NOTES | TOTAL | WA RATE |
| 2023 |  |  | $18880 | $18880 | 3.83% |
| 2024 |  |  | 25352 | 25352 | 4.41% |
| 2025 | $350000 | $250000 | 16250 | 616250 | 4.62% |
| 2026 | 650000 | 600000 | 23640 | 1273640 | 4.36% |
| 2027 | 585000 | 500000 |  | 1085000 | 4.55% |
| 2028 | 300000 | 300000 |  | 600000 | 4.40% |
| Thereafter |  | 2049500 |  | 2049500 | 2.41% |
| Total | $1885000 | $3699500 | $84122 | $5668622 | 3.72% |
| Fixed rate debt balance <sup>4</sup> | $1150000 | $3699500 | $84122 | $4933622 |  |
| Company share of JV debt | Company share of JV debt |  | $23572 |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| INTEREST RATE SWAPS | INTEREST RATE SWAPS | INTEREST RATE SWAPS |
| MATURITY | AMOUNT | RATE |
| January 2023 | $300000 | 1.42% |
| January 2024 | 200000 | 1.21% |
| May 2026 | 100000 | 2.15% |
| December 2026 | 150000 | 3.84% |
| June 2027 | 150000 | 4.13% |
| December 2027 | 250000 | 3.79% |
| As of 12/31/2022 | $1150000 | 2.63% |
| *Subsequent Activity:* |  |  |
| June 2026 | 50000 | 4.16% |
| As of 3/1/2023 | 900000 | 3.12% |

---

1On July 20, 2022, Legacy HR and HTA merged, in which Legacy HR was the acquirer under GAAP. Accordingly, the historic financial statements of the combined company are those of Legacy HR.

2Balances are reflected net of discounts, fair value adjustments, and deferred financing costs and include premiums.

3Includes extension options.

4Reflects $1.2 million of interest rate swaps.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 12

------

---

| |
|:---|
| Debt Covenants & Liquidity<sup>1</sup> |
| DOLLARS IN THOUSANDS |

---

---

| | | | |
|:---|:---|:---|:---|
| SELECTED FINANCIAL DEBT COVENANTS YEAR ENDED DECEMBER 31, 2022 <sup>2</sup>  | SELECTED FINANCIAL DEBT COVENANTS YEAR ENDED DECEMBER 31, 2022 <sup>2</sup>  | SELECTED FINANCIAL DEBT COVENANTS YEAR ENDED DECEMBER 31, 2022 <sup>2</sup>  |  |
|  | CALCULATION | REQUIREMENT | PER DEBT COVENANTS |
| Revolving credit facility and term loan | Revolving credit facility and term loan |  |  |
| Leverage ratio | Total debt/total capital | Not greater than 60% | 38.7% |
| Secured leverage ratio | Total secured debt/total capital | Not greater than 30% | 0.6% |
| Unencumbered leverage ratio | Unsecured debt/unsecured real estate | Not greater than 60% | 40.9% |
| Fixed charge coverage ratio | EBITDA/fixed charges | Not less than 1.50x | 3.7x |
| Unsecured coverage ratio | Unsecured EBITDA/unsecured interest | Not less than 1.75x | 3.7x |
| Asset investments | Unimproved land, JVs & mortgages/total assets | Not greater than 35% | 6.3% |
| Senior Notes |  |  |  |
| Incurrence of total debt | **Total debt/total assets** | Not greater than 60% | 38.4% |
| Incurrence of debt secured by any lien | **Secured debt/total assets** | Not greater than 40% | 0.6% |
| Maintenance of total unsecured assets | **Unencumbered assets/unsecured debt** | Not less than 150% | 257.7% |
| Debt service coverage | **EBITDA/interest expense** | Not less than 1.5x | 3.1x |
| Other |  |  |  |
| Run-rate net debt to adjusted EBITDA <sup>3</sup> | Run-rate net debt (debt less cash)/adjusted EBITDA | Not required | 6.4x |
| Net debt to enterprise value <sup>4</sup> | Net debt/enterprise value | Not required | 43.1% |

---

---

| | |
|:---|:---|
| LIQUIDITY SOURCES | LIQUIDITY SOURCES |
| Cash | $60961 |
| Unsecured credit facility availability | 1115000 |
| Consolidated unencumbered assets (gross) <sup>5</sup> | 13848152 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

1On July 20, 2022, Legacy HR and HTA closed the merger of the two companies, in which Legacy HR was the acquirer under GAAP. Accordingly, the historic financial statements of the combined company are those of Legacy HR.

2Does not include all financial and non-financial covenants and restrictions that are required by the Company's various debt agreements. Financial measures include the Company's proportionate share of unconsolidated joint ventures, as applicable.

3Adjusted EBITDA is based on the proforma full quarter results, annualized. See page 24 for a reconciliation of adjusted EBITDA. Proforma adjusted EBITDA and net debt includes run-rate adjustments highlighted on page 5.

4Based on the closing price of $19.27 on December 31, 2022 and 384,632,887 shares outstanding.

5Annualized fourth quarter 2022 unencumbered asset NOI was $805.9 million.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 13

------

---

| |
|:---|
| Disposition Activity |
| DOLLARS IN THOUSANDS |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| DISPOSITION ACTIVITY | DISPOSITION ACTIVITY | DISPOSITION ACTIVITY | DISPOSITION ACTIVITY | DISPOSITION ACTIVITY |  |
|  | COUNT | SQUARE FEET | LEASED % | SALE <br>PRICE | CAP RATE <sup>1</sup> |
| Q1 2022 total | 2 | 150291 | 82% | $84950 | 3.4% |
| Q2 2022 total | 2 | 201523 | 51% | 25500 | 6.9% |
| Q3 2022 total <sup>2</sup> | 26 | 1673858 | 90% | 785947 | 4.6% |
| Q4 2022 total | 15 | 1077455 | 86% | 349771 | 5.4% |
| 2022 total | 45 | 3103127 | 86% | $1246168 | 4.8% |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Q4 2022 DISPOSITION DETAIL | Q4 2022 DISPOSITION DETAIL | Q4 2022 DISPOSITION DETAIL | Q4 2022 DISPOSITION DETAIL | Q4 2022 DISPOSITION DETAIL | Q4 2022 DISPOSITION DETAIL |
| LOCATION | COUNT | CLOSING | SQUARE FEET | LEASED % | SALE <br>PRICE |
| Dallas, TX | 2 | 10/4/2022 | 291328 | 82% | $104025 |
| Houston, TX | 1 | 10/21/2022 | 134910 | 71% | 32000 |
| College Station, TX | 1 | 11/10/2022 | 122942 | 87% | 49177 |
| El Paso, TX | 1 | 12/22/2022 | 110465 | 98% | 55326 |
| Atlanta, GA | 9 | 12/22/2022 | 348416 | 90% | 91243 |
| St. Louis, MO  | 1 | 12/28/2022 | 69394 | 100% | 18000 |
| Q4 2022 total | 15 |  | 1077455 | 86% | $349771 |
| Q4 average cap rate <sup>1</sup> | Q4 average cap rate <sup>1</sup> |  |  |  | 5.4% |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| SUBSEQUENT DISPOSITION ACTIVITY | SUBSEQUENT DISPOSITION ACTIVITY | SUBSEQUENT DISPOSITION ACTIVITY | SUBSEQUENT DISPOSITION ACTIVITY | SUBSEQUENT DISPOSITION ACTIVITY | SUBSEQUENT DISPOSITION ACTIVITY |
| LOCATION | COUNT | CLOSING | SQUARE FEET | LEASED % | SALE <br>PRICE |
| Tampa, FL & Miami, FL <sup>3</sup> | 2 | 1/12/2023 | 224037 | 100% | $93250 |
| Dallas, TX <sup>4</sup> | 1 | 1/30/2023 | 36691 | 100% | 19210 |
| St. Louis, MO | 1 | 2/10/2023 | 6500 | 100% | 350 |
| Subsequent total | 4 |  | 267228 | 100% | $112810 |
| Subsequent average cap rate <sup>1</sup> | Subsequent average cap rate <sup>1</sup> |  |  |  | 6.3% |

---

1For dispositions, cap rate represents the in-place cash NOI divided by sales price.

2Includes a portfolio in which the Company sold 80% of the properties into an unconsolidated joint venture, a portfolio in which the Company sold 60% of the properties into an unconsolidated joint venture, and an HTA asset that was sold prior to the merger in July.

3Includes two properties, sold in two separate transactions to the same buyer on the same date.

4Values and square feet are represented at 100%. The Company retained a 40% ownership interest in the joint venture that purchased this property.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 14

------

---

| |
|:---|
| Acquisition Activity |
| DOLLARS IN THOUSANDS |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ACQUISITION ACTIVITY | ACQUISITION ACTIVITY | ACQUISITION ACTIVITY | ACQUISITION ACTIVITY | ACQUISITION ACTIVITY | ACQUISITION ACTIVITY | ACQUISITION ACTIVITY |
|  | COUNT | SQUARE<br>FEET | LEASED % | PURCHASE<br>PRICE <sup>1</sup> | % OWNERSHIP | CAP <br>RATE <sup>2</sup> |
| Q1 2022 total | 9 | 398520 | 87% | $223150 | 77% | 4.7% |
| Q2 2022 total | 13 | 359706 | 100% | 163762 | 100% | 5.8% |
| Q3 2022 total | 8 | 242602 | 98% | 91253 | 100% | 5.6% |
| Q4 2022 total | 3 | 76480 | 99% | 26388 | 100% | 6.5% |
| 2022 total | 33 | 1077308 | 95% | $504553 | 90% | 5.3% |
| JV Contribution | JV Contribution |  |  | (50488) |  |  |
| 2022 total, net | 2022 total, net |  |  | $454065 |  |  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Q4 2022 ACQUISITION DETAIL | Q4 2022 ACQUISITION DETAIL | Q4 2022 ACQUISITION DETAIL | Q4 2022 ACQUISITION DETAIL | Q4 2022 ACQUISITION DETAIL | Q4 2022 ACQUISITION DETAIL | Q4 2022 ACQUISITION DETAIL | Q4 2022 ACQUISITION DETAIL | Q4 2022 ACQUISITION DETAIL |
| MARKET | COUNT | MILES TO CAMPUS | ASSOCIATED HEALTH SYSTEM/TENANCY | CLOSING | SQUARE<br>FEET | LEASED % | PURCHASE<br>PRICE <sup>1</sup> | % OWNERSHIP |
| Jacksonville, FL | 1 | 0.10 | Ascension | 10/12/2022 | 6200 | 100% | $3600 | 100% |
| Houston, TX | 1 | 0.00 | Memorial Hermann Health | 11/21/2022 | 28369 | 96% | 5500 | 100% |
| Austin, TX <sup>3</sup> | NA | 0.01 | Ascension | 12/28/2022 | 2219 | 100% | 888 | 100% |
| Denver, CO | 1 | 3.01 |  | 12/28/2022 | 39692 | 100% | 16400 | 100% |
| Q4 2022 total | 3 |  |  |  | 76480 | 99% | $26388 | 100% |
| Q4 average cap rate <sup>2</sup> | Q4 average cap rate <sup>2</sup> |  |  |  |  |  | 6.5% |  |

---

1Includes joint venture acquisitions at full acquisition price.

2For acquisitions, cap rate represents the forecasted first year NOI divided by purchase price. Does not include fees earned related to the unconsolidated joint venture.

3The Company acquired additional ownership in an existing building bringing the Company's ownership to 71.4%.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 15

------

---

| |
|:---|
| Re/development Activity |
| DOLLARS IN THOUSANDS |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| RE/DEVELOPMENT PROJECTS | RE/DEVELOPMENT PROJECTS | RE/DEVELOPMENT PROJECTS | RE/DEVELOPMENT PROJECTS | RE/DEVELOPMENT PROJECTS | RE/DEVELOPMENT PROJECTS |  |  |
| MARKET | ASSOCIATED HEALTH SYSTEM | SQUARE<br>FEET | CURRENT LEASED % | BUDGET | COST TO COMPLETE | PROJECT START | ESTIMATED COMPLETION/INITIAL LEASE COMMENCEMENT |
| Active development | Active development |  |  |  |  |  |  |
| Nashville, TN | Ascension | 106194 | 50% | $44000 | $18641 | 2Q 2021 | 3Q 2023 |
| Orlando, FL <sup>1</sup> | Advent Health | 156566 | 74% | 65000 | 48367 | 1Q 2022 | 2Q 2024 |
| Raleigh, NC | UNC REX Health | 120694 | —% | 49300 | 35675 | 2Q 2022 | 4Q 2024 |
| Orlando, FL | Exalt Health | 45000 | 100% | 25900 | 24430 | 1Q 2023 | 1Q 2025 |
| Total development | Total development | 428454 | 50% | $184200 | $127113 |  |  |
| *Projected stabilized yield - 6.5%-8.0%* | *Projected stabilized yield - 6.5%-8.0%* | *Projected stabilized yield - 6.5%-8.0%* | *Projected stabilized yield - 6.5%-8.0%* | *Projected stabilized yield - 6.5%-8.0%* |  |  |  |
| *Estimated stabilization period post completion - 12 - 36 months* | *Estimated stabilization period post completion - 12 - 36 months* | *Estimated stabilization period post completion - 12 - 36 months* | *Estimated stabilization period post completion - 12 - 36 months* | *Estimated stabilization period post completion - 12 - 36 months* |  |  |  |
| Active redevelopment | Active redevelopment |  |  |  |  |  |  |
| Seattle, WA <sup>2</sup> | MultiCare  | 56000 | 100% | $12500 | $247 | 1Q 2021 | 4Q 2022 |
| Dallas, TX | Baylor Scott & White | 217114 | 61% | 17500 | 5368 | 4Q 2020 | 4Q 2023 |
| Washington, DC | Inova Health | 259290 | 70% | 21200 | 18343 | 1Q 2022 | 2Q 2024 |
| Total redevelopment | Total redevelopment | 532404 | 69% | $51200 | $23958 |  |  |
| *Projected stabilized yield - 8.0%-11.0%* | *Projected stabilized yield - 8.0%-11.0%* | *Projected stabilized yield - 8.0%-11.0%* | *Projected stabilized yield - 8.0%-11.0%* | *Projected stabilized yield - 8.0%-11.0%* |  |  |  |
| *Estimated stabilization period post completion - 12 - 36 months* | *Estimated stabilization period post completion - 12 - 36 months* | *Estimated stabilization period post completion - 12 - 36 months* | *Estimated stabilization period post completion - 12 - 36 months* | *Estimated stabilization period post completion - 12 - 36 months* |  |  |  |
| Total active re/development projects | Total active re/development projects | 960858 | 61% | $235400 | $151071 |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| PROSPECTIVE RE/DEVELOPMENT | PROSPECTIVE RE/DEVELOPMENT | PROSPECTIVE RE/DEVELOPMENT | PROSPECTIVE RE/DEVELOPMENT | PROSPECTIVE RE/DEVELOPMENT | PROSPECTIVE RE/DEVELOPMENT | PROSPECTIVE RE/DEVELOPMENT |
| MARKET | TYPE | SQUARE<br>FEET <sup>3</sup> | LEASED % <sup>4</sup> | BUDGET | EXPECTED START | PROJECT DESCRIPTION |
| Fort Worth, TX | Dev | 102000 | 40% | $48000 | 2H 2023 | New on-campus MOB |
| Houston, TX | Dev | 112000 | 60% | 53200 | 2H 2023 | New on-campus MOB |
| Phoenix, AZ | Dev | 100000 | 60% | 52000 | 2H 2023 | New MOB adjacent to campus |
| Denver, CO | Dev | 230000 | 100% | 150000 | 2H 2024 | New surgical facility and MOB adjacent to campus |
| Houston, TX | Redev | 297423 | 60% | 20275 | 2H 2023 | Redevelopment of two on-campus MOBs |
| Chicago, IL | Redev | 73657 | 55% | 10962 | 2H 2023 | Redevelopment of an MOB in Chicago CBD |
| Washington, DC | Redev | 57323 | 72% | 10078 | 2H 2023 | Off-campus MOB redevelopment |
| Total prospective re/development | Total prospective re/development | 972403 | 68% | $344515 |  |  |

---

1Investment is a construction loan with purchase rights upon completion.

2Redevelopment project is a 23,000 square foot expansion to an existing medical office building. When complete, the building will be approximately 56,000 square feet. The first tenant took occupancy in 4Q2022.

3If project is identified as development (dev), then amount is projected building size. If project is a redevelopment (redev), then amount is existing building size.

4If project is identified as dev, then amount is expected preleasing percentage. If project is a redev, then amount is equal to current actual leased percentage.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 16

------

---

| |
|:---|
| Portfolio <sup>1,2,3</sup> |
| DOLLARS IN THOUSANDS |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| MARKETS | MARKETS | MARKETS | MARKETS | MARKETS | MARKETS | MARKETS | MARKETS | MARKETS | MARKETS |  |  |  |  |
|  |  | WHOLLY OWNED COUNT |  | SQUARE FEET | SQUARE FEET | SQUARE FEET | SQUARE FEET | SQUARE FEET | SQUARE FEET | SQUARE FEET | SQUARE FEET | WHOLLY OWNED | WHOLLY OWNED |
| MARKET | MSA RANK | WHOLLY OWNED COUNT |  | MOB |  | INPATIENT/SURGICAL | OFFICE |  | WHOLLY OWNED | JOINT VENTURES | TOTAL | % OF NOI | CUMULATIVE % OF NOI |
| Dallas, TX | 4 | WHOLLY OWNED COUNT | 45 |  | 3308315 |  | 302764 | 199800 |  | 3810879 | 189385 | 4000264 | 10.3% |
| Seattle, WA | 15 | 29 |  | 1592501 |  |  |  |  | 1592501 |  | 1592501 | 5.1% | 15.4% |
| Los Angeles, CA | 2 | 23 |  | 1218579 |  | 63000 | 104377 |  | 1385956 | 702453 | 2088409 | 4.9% | 20.3% |
| Boston, MA | 11 | 18 |  | 964945 |  |  |  |  | 964945 |  | 964945 | 4.9% | 25.2% |
| Charlotte, NC | 22 | 32 |  | 1790415 |  |  |  |  | 1790415 |  | 1790415 | 4.6% | 29.8% |
| Houston, TX | 5 | 34 |  | 2403175 |  | 150723 | 57170 |  | 2611068 |  | 2611068 | 4.5% | 34.3% |
| Miami, FL | 7 | 23 |  | 1414086 |  | 133500 |  |  | 1547586 |  | 1547586 | 4.3% | 38.6% |
| Atlanta, GA | 9 | 28 |  | 1478336 |  |  |  |  | 1478336 |  | 1478336 | 4.0% | 42.6% |
| Tampa, FL | 18 | 20 |  | 1012094 |  |  |  |  | 1012094 |  | 1012094 | 3.0% | 45.6% |
| Denver, CO | 19 | 33 |  | 1780819 |  |  | 93869 |  | 1874688 | 116616 | 1991304 | 2.9% | 48.5% |
| Raleigh, NC | 42 | 27 |  | 1103648 |  |  |  |  | 1103648 |  | 1103648 | 2.6% | 51.1% |
| Phoenix, AZ | 10 | 35 |  | 1512304 |  |  |  |  | 1512304 |  | 1512304 | 2.6% | 53.7% |
| Chicago, IL | 3 | 7 |  | 712757 |  |  |  |  | 712757 |  | 712757 | 2.4% | 56.1% |
| Indianapolis, IN | 33 | 36 |  | 1080947 |  | 61398 |  |  | 1142345 | 273479 | 1415824 | 2.4% | 58.5% |
| Hartford, CT | 48 | 30 |  | 768947 |  |  |  |  | 768947 |  | 768947 | 2.4% | 60.9% |
| Nashville, TN | 36 | 12 |  | 1135640 |  |  | 108691 |  | 1244331 |  | 1244331 | 2.2% | 63.1% |
| New York, NY | 1 | 14 |  | 614522 |  |  |  |  | 614522 |  | 614522 | 2.1% | 65.2% |
| Austin, TX | 29 | 13 |  | 863700 |  |  |  |  | 863700 |  | 863700 | 2.0% | 67.2% |
| Orlando, FL | 23 | 8 |  | 359477 |  | 186998 |  |  | 546475 |  | 546475 | 2.0% | 69.2% |
| Memphis, TN | 43 | 11 |  | 802221 |  | 54416 |  |  | 856637 |  | 856637 | 1.9% | 71.1% |
| Other (51 markets) |  | 210 |  | 11112198 |  | 574976 | 1228363 |  | 12915537 | 630776 | 13546313 | 28.9% | 100.0% |
| Total |  | 688 |  | 37029626 |  | 1527775 | 1792270 |  | 40349671 | 1912709 | 42262380 | 100.0% |  |
| Number of properties | Number of properties |  |  | 658 |  | 20 | 10 |  | 688 | 33 | 721 |  |  |
| % of square feet |  |  |  | 91.8% |  | 3.8% | 4.4% |  | 100.0% |  |  |  |  |
| % multi-tenant |  |  |  | 84.5% |  | —% | 61.8% |  | 80.3% |  |  |  |  |
| Investment  |  |  |  | $12658894 |  | $653648 | $509211 |  | $13821753 |  |  |  |  |
| Quarterly cash NOI <sup>5</sup> | Quarterly cash NOI <sup>5</sup> |  |  | $185092 |  | $12083 | $7411 |  | $204586 |  |  |  |  |
| % of cash NOI |  |  |  | 90.5% |  | 5.9% | 3.6% |  | 100.0% |  |  |  |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| BY BUILDING TYPE |  |  |  |  |  |
|  | WHOLLY OWNED | WHOLLY OWNED | WHOLLY OWNED |  |  |
|  | MULTI-TENANT | SINGLE-TENANT | SUBTOTAL | JOINT VENTURE  | TOTAL |
| Number of properties | 545 | 143 | 688 | 33 | 721 |
| Square feet | 32397093 | 7952578 | 40349671 | 1912709 | 42262380 |
| % of square feet | 76.7% | 18.8% | 95.5% | 4.5% | 100.0% |
| Investment <sup>2</sup> | $10553866 | $3267887 | $13821753 | $350305 | $14172058 |
| Quarterly cash NOI <sup>2,</sup> | $152128 | $52458 | $204586 | $4579 | $209165 |
| % of cash NOI | 72.7% | 25.1% | 97.8% | 2.2% | 100.0% |

---

1On July 20, 2022, Legacy HR and HTA closed the merger of the two companies, in which Legacy HR was the acquirer under GAAP. Accordingly, the historic financial statements of the combined company are those of Legacy HR.

2Gross investment and quarterly cash NOI are reflected at the Company's ownership percentage.

3Excludes assets held for sale, land held for development, construction in progress and corporate property.

4The Company's weighted average ownership percentage in its joint ventures was approximately 48%.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 17

------

Health Systems <sup>1,2</sup><br>

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| MOB PORTFOLIO | MOB PORTFOLIO | MOB PORTFOLIO | MOB PORTFOLIO | MOB PORTFOLIO | MOB PORTFOLIO | MOB PORTFOLIO | MOB PORTFOLIO | MOB PORTFOLIO |  |  |  |  |  |  |
|  |  |  | BUILDING SQUARE FEET | BUILDING SQUARE FEET | BUILDING SQUARE FEET | # OF BLDGS |  | LEASED BY HEALTH SYSTEM | % OF LEASED SF | # OF LEASES |  |  |  |  |
| HEALTH SYSTEM | SYSTEM RANK <sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;CREDIT RATING | ON/ADJACENT <sup>4</sup> | OFF-CAMPUS AFFILIATED <sup>5</sup> | TOTAL | # OF BLDGS | % OF NOI <sup>6</sup> | LEASED BY HEALTH SYSTEM | % OF LEASED SF | # OF LEASES |  |  |  |  |
| HCA | 1 | BBB-/Baa3 | 2308053 | 779250 | 3087303 | # OF BLDGS | 46 | LEASED BY HEALTH SYSTEM | % OF LEASED SF | # OF LEASES | 8.3% | 796825 | 2.5% | 136 |
| CommonSpirit | 4 | A-/Baa1 | 1906957 | 593550 | 2500507 | 43 | 6.8% | 882801 | 2.7% | 157 |  |  |  |  |
| Baylor Scott & White | 21 | AA-/Aa3 | 2570180 | 66376 | 2636556 | 29 | 6.2% | 1401055 | 4.3% | 194 |  |  |  |  |
| Ascension Health | 3 | AA+/Aa2 | 2156369 | 97551 | 2253920 | 24 | 5.5% | 929797 | 2.9% | 146 |  |  |  |  |
| Tenet Healthcare Corporation | 6 | B+/B1 | 1526040 | 414278 | 1940318 | 35 | 4.3% | 486321 | 1.5% | 91 |  |  |  |  |
| Atrium Health | 16 | AA-/Aa3 | 682654 | 348792 | 1031446 | 18 | 3.3% | 906608 | 2.8% | 81 |  |  |  |  |
| AdventHealth | 11 | AA/Aa2 | 797587 | 118585 | 916172 | 14 | 2.6% | 410916 | 1.3% | 82 |  |  |  |  |
| Wellstar Health System | 75 | A+/A2 | 896773 | 23088 | 919861 | 18 | 2.5% | 580281 | 1.8% | 81 |  |  |  |  |
| Community Health Systems | 8 | /B3 | 1024527 |  | 1024527 | 26 | 2.5% | 384850 | 1.2% | 50 |  |  |  |  |
| UW Medicine (Seattle) | 91 | AA+/Aaa | 461363 | 169709 | 631072 | 10 | 2.5% | 292712 | 0.9% | 31 |  |  |  |  |
| Trinity Health | 7 | AA-/Aa3 | 633711 | 153938 | 787649 | 11 | 2.1% | 493431 | 1.5% | 67 |  |  |  |  |
| Baptist Memorial Health Care | 89 | A-2/-- | 544122 | 252414 | 796536 | 10 | 1.9% | 430579 | 1.3% | 58 |  |  |  |  |
| Providence St. Joseph Health | 5 | A+/A1 | 330287 | 31601 | 361888 | 8 | 1.6% | 162816 | 0.5% | 26 |  |  |  |  |
| Cedars-Sinai Health Systems | 24 | AA-/-- | 199701 | 90607 | 290308 | 5 | 1.4% | 52891 | 0.2% | 19 |  |  |  |  |
| Hawaii Pacific Health | 181 | --/A1 | 173502 | 124925 | 298427 | 3 | 1.3% | 97735 | 0.3% | 39 |  |  |  |  |
| Banner Health | 51 | AA-/Aa3 | 749075 | 31039 | 780114 | 24 | 1.3% | 147178 | 0.5% | 38 |  |  |  |  |
| Overlake Health System | 291 | A/A2 | 230710 |  | 230710 | 3 | 1.2% | 73676 | 0.2% | 8 |  |  |  |  |
| Medstar Health | 45 | A/A2 | 326129 |  | 326129 | 4 | 1.2% | 223965 | 0.7% | 64 |  |  |  |  |
| WakeMed | 185 | --/A2 | 368046 | 101597 | 469643 | 12 | 1.2% | 114435 | 0.4% | 15 |  |  |  |  |
| Bon Secours Health System | 22 | A+/A1 | 405945 |  | 405945 | 6 | 1.1% | 236637 | 0.7% | 49 |  |  |  |  |
| UNC Health Care | 62 | /Aa3 | 166374 | 160380 | 326754 | 7 | 1.0% | 208554 | 0.6% | 27 |  |  |  |  |
| Other (65 credit rated) |  |  | 6508813 | 2950049 | 9458862 | 172 | 24.7% | 4550366 | 14.1% |  |  |  |  |  |
| Subtotal - credit rated <sup>7</sup> |  |  | 24966918 | 6507729 | 31474647 | 528 | 84.5% | 13864429 | 42.9% |  |  |  |  |  |
| Other non-credit rated <sup>8</sup> |  |  | 1162849 | 475679 | 1638528 | 35 | 5.8% | 897280 | 2.8% |  |  |  |  |  |
| Off-campus non-affiliated <sup>9</sup> |  |  |  | 3916451 | 3916451 | 95 | 9.7% |  | —% |  |  |  |  |  |
| Wholly-owned |  |  | 26129767 | 10899859 | 37029626 | 658 | 100.0% | 14761709 | 45.7% |  |  |  |  |  |
| Joint ventures |  |  | 1143456 | 579868 | 1723324 |  |  |  |  |  |  |  |  |  |
| Total |  |  | 27273223 | 11479727 | 38752950 |  |  |  |  |  |  |  |  |  |

---

1On July 20, 2022, Legacy HR and HTA closed the merger of the two companies, in which Legacy HR was the acquirer under GAAP. Accordingly, the historic financial statements of the combined company are those of Legacy HR.

2Excludes construction in progress and assets classified as held for sale.

3Ranked by revenue based on Modern Healthcare's Healthcare Systems Financials Database.

4The Company defines an adjacent property as being no more than 0.25 miles from a hospital campus.

5Includes off-campus buildings where health systems lease 20% or more of the property and/or are located within 2 miles from a hospital campus.

6Includes HTA on a full quarter proforma basis.

7Based on square footage, 77.1% is associated and 40.1% is leased by an investment-grade rated healthcare provider.

8Includes 38 properties associated with a hospital system that is not credit rated.

9Includes off-campus buildings that are not 20% or more leased by a health system and are more than two miles from a hospital campus.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 18

------

MOB Proximity to Hospital <sup>1,2</sup><br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| MEDICAL OFFICE BUILDINGS BY LOCATION |  |  |  |  |
|  | # OF PROPERTIES | SQUARE FEET | TOTAL | % GROUND LEASED |
| On campus | 233 | 18021863 | 46.5% | 36.7% |
| Adjacent to campus <sup>3</sup> | 202 | 9251360 | 23.9% | 4.0% |
| Total on/adjacent | 435 | 27273223 | 70.4% | 40.7% |
| Off campus - affiliated <sup>4</sup> | 152 | 7429915 | 19.2% | 3.5% |
| Off campus | 98 | 4049812 | 10.4% | 1.1% |
|  | 685 | 38752950 | 100.0% | 45.3% |
| Wholly-owned | 658 | 37029626 |  |  |
| Joint ventures | 27 | 1723324 |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| MEDICAL OFFICE BUILDINGS BY CLUSTER <sup>5</sup> | MEDICAL OFFICE BUILDINGS BY CLUSTER <sup>5</sup> | MEDICAL OFFICE BUILDINGS BY CLUSTER <sup>5</sup> | MEDICAL OFFICE BUILDINGS BY CLUSTER <sup>5</sup> | MEDICAL OFFICE BUILDINGS BY CLUSTER <sup>5</sup> | MEDICAL OFFICE BUILDINGS BY CLUSTER <sup>5</sup> | MEDICAL OFFICE BUILDINGS BY CLUSTER <sup>5</sup> |
|  | TOTAL | TOTAL | TOTAL | HOSPITAL CENTRIC <sup>6</sup> | HOSPITAL CENTRIC <sup>6</sup> | HOSPITAL CENTRIC <sup>6</sup> |
|  | # OF PROPERTIES | SQUARE FEET | % OF MOB SQUARE FEET | # OF PROPERTIES | SQUARE FEET | % OF MOB SQUARE FEET |
| Clustered | 485 | 26721853 | 69.0% | 401 | 23247723 | 72.0% |
| Non-clustered | 200 | 12031097 | 31.0% | 134 | 9043121 | 28.0% |
| Total | 685 | 38752950 | 100.0% | 535 | 32290844 | 100.0% |

---

1Includes joint venture properties and excludes construction in progress and assets classified as held for sale.

2Proximity to hospital campus includes acute care hospitals with inpatient beds. The Company does not consider inpatient rehab hospitals (IRFs), skilled nursing facilities (SNFs) or long-term acute care hospitals (LTACHs) to be hospital campuses for distance calculations.

3The Company defines an adjacent property as being no more than 0.25 miles from a hospital campus.

4Includes off-campus buildings where health systems lease 20% or more of the property and/or are located within 2 miles from a hospital campus.

5A cluster is defined as at least two properties within a geographic radius of two miles. The Company believes clusters provide operational efficiencies and greater local leasing knowledge that accelerate NOI growth.

6Includes buildings that are located within two miles of a hospital campus.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 19

------

Lease Maturity & Occupancy<sup>1</sup><br>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| LEASE MATURITY SCHEDULE | LEASE MATURITY SCHEDULE | LEASE MATURITY SCHEDULE | LEASE MATURITY SCHEDULE | LEASE MATURITY SCHEDULE |  |  |  |
|  | MULTI-TENANT <sup>2</sup> | MULTI-TENANT <sup>2</sup> | SINGLE-TENANT | SINGLE-TENANT | TOTAL | TOTAL | TOTAL |
|  | # OF LEASES | SQUARE FEET | # OF LEASES | SQUARE FEET | # OF LEASES | SQUARE FEET | % OF LEASED SQUARE FEET |
| 2023 | 1447 | 4286422 | 13 | 731847 | 1460 | 5018269 | 14.2% |
| 2024 | 1153 | 4235453 | 18 | 914693 | 1171 | 5150146 | 14.5% |
| 2025 | 1006 | 3491315 | 17 | 964475 | 1023 | 4455790 | 12.6% |
| 2026 | 805 | 3124820 | 9 | 485445 | 814 | 3610265 | 10.2% |
| 2027 | 790 | 3281539 | 17 | 1138829 | 807 | 4420368 | 12.5% |
| 2028 | 425 | 1884955 | 15 | 662660 | 440 | 2547615 | 7.2% |
| 2029 | 366 | 1732347 | 15 | 752632 | 381 | 2484979 | 7.0% |
| 2030 | 275 | 1581033 | 13 | 625890 | 288 | 2206923 | 6.2% |
| 2031 | 224 | 974364 | 3 | 229223 | 227 | 1203587 | 3.4% |
| 2032 | 261 | 1773687 | 6 | 332678 | 267 | 2106365 | 5.9% |
| Thereafter | 169 | 1269325 | 16 | 944357 | 185 | 2213682 | 6.3% |
| Total occupied | 6921 | 27635260 | 142 | 7782729 | 7063 | 35417989 | 87.8% |
| Total building |  | 32397093 |  | 7952578 |  | 40349671 |  |
| Occupancy |  | 85.3% |  | 97.9% |  | 87.8% |  |
| WALTR (months) <sup>3</sup> | WALTR (months) <sup>3</sup> | 49.9 |  | 69.3 |  | 54.2 |  |
| WALT (months) <sup>3</sup> | WALT (months) <sup>3</sup> | 95.5 |  | 146.1 |  | 106.6 |  |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| PORTFOLIO OCCUPANCY AND ABSORPTION | PORTFOLIO OCCUPANCY AND ABSORPTION | PORTFOLIO OCCUPANCY AND ABSORPTION | PORTFOLIO OCCUPANCY AND ABSORPTION | PORTFOLIO OCCUPANCY AND ABSORPTION |  |  |  |
|  |  |  | OCCUPANCY % | OCCUPANCY % | OCCUPANCY % | ABSORPTION<br>(square feet in thousands) | ABSORPTION<br>(square feet in thousands) |
|  | # OF PROPERTIES | SQUARE FEET | 4Q 2022 | 3Q 2022 | 4Q 2021 | SEQUENTIAL | Y-O-Y |
| Same store multi-tenant | 465 | 27860852 | 86.6% | 86.4% | 85.9% | 59 | 197 |
| Same store single-tenant | 128 | 7366431 | 99.5% | 99.5% | 99.9% |  | (28) |
| Total same store properties | 593 | 35227283 | 89.3% | 89.2% | 88.8% | 59 | 169 |
| Acquisitions | 74 | 3399064 | 87.1% | 88.0% | 86.1% | (37) | (17) |
| Development completions | 6 | 409801 | 86.8% | 86.8% | 79.2% |  | 31 |
| Re/development | 11 | 1090690 | 58.0% | 57.1% | 67.3% | 9 | (102) |
| Planned dispositions | 4 | 222833 | 1.4% | 2.4% | 25.9% | (2) | (55) |
| Wholly-owned | 688 | 40349671 | 87.8% | 87.7% | 87.6% | 29 | 26 |
| Joint ventures | 33 | 1912709 | 85.4% | 85.5% | 88.3% | (1) | 3 |
| Total | 721 | 42262380 | 87.7% | 87.6% | 87.6% | 28 | 29 |
| Same store leased % |  |  | 90.5% |  |  |  |  |
| Total leased % |  |  | 88.9% |  |  |  |  |

---

1Excludes joint ventures, land held for development, construction in progress, corporate property and assets classified as held for sale, unless noted otherwise.

2The average lease size in the multi-tenant portfolio is 3,993 square feet.

3WALTR = weighted average lease term remaining; WALT = weighted average lease term.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 20

------

Leasing Statistics <sup>1</sup><br>

---

| | | |
|:---|:---|:---|
| SAME STORE 4Q 2022 RENEWALS | SAME STORE 4Q 2022 RENEWALS | SAME STORE 4Q 2022 RENEWALS |
|  | Q4 2022 | TTM |
| Cash leasing spreads | 3.5% | 2.8% |
| Cash leasing spreads distribution | Cash leasing spreads distribution |  |
| < 0% spread | 6.5% | 9.3% |
| 0-3% spread | 13.2% | 23.8% |
| 3-4% spread | 66.2% | 47.8% |
| > 4% spread | 14.1% | 19.1% |
| Total | 100.0% | 100.0% |
| Tenant retention rate | 75.7% | 78.9% |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| AVERAGE IN-PLACE CONTRACTUAL INCREASES <sup>2</sup>  | AVERAGE IN-PLACE CONTRACTUAL INCREASES <sup>2</sup>  | AVERAGE IN-PLACE CONTRACTUAL INCREASES <sup>2</sup>  | AVERAGE IN-PLACE CONTRACTUAL INCREASES <sup>2</sup>  | AVERAGE IN-PLACE CONTRACTUAL INCREASES <sup>2</sup>  | AVERAGE IN-PLACE CONTRACTUAL INCREASES <sup>2</sup>  | AVERAGE IN-PLACE CONTRACTUAL INCREASES <sup>2</sup>  |
|  | MULTI-TENANT | MULTI-TENANT | SINGLE-TENANT | SINGLE-TENANT | TOTAL | TOTAL |
|  | % INCREASE | % OF <br>BASE RENT | % INCREASE | % OF <br>BASE RENT | % INCREASE | % OF <br>BASE RENT |
| Same store | 2.80% | 65.0% | 2.85% | 19.9% | 2.81% | 84.9% |
| Acquisitions | 2.47% | 6.7% | 2.52% | 1.3% | 2.48% | 8.0% |
| Other <sup>3</sup> | 2.66% | 6.5% | 2.13% | 0.6% | 2.61% | 7.1% |
| Total | 2.76% | 78.2% | 2.81% | 21.8% | 2.77% | 100.0% |
| Escalator type |  |  |  |  |  |  |
| Fixed | 2.71% | 96.5% | 2.39% | 83.1% | 2.65% | 93.6% |
| CPI | 4.09% | 3.5% | 4.89% | 16.9% | 4.55% | 6.4% |

---

---

| | | | |
|:---|:---|:---|:---|
| TYPE AND OWNERSHIP STRUCTURE | TYPE AND OWNERSHIP STRUCTURE | TYPE AND OWNERSHIP STRUCTURE | TYPE AND OWNERSHIP STRUCTURE |
|  | MULTI-TENANT | SINGLE-TENANT | TOTAL |
| Tenant type |  |  |  |
| Hospital | 44.7% | 75.2% | 51.4% |
| Physician and other | 55.3% | 24.8% | 48.6% |
| Lease structure |  |  |  |
| Gross | 9.0% | 6.5% | 8.4% |
| Modified gross | 31.8% | 9.6% | 26.9% |
| Net | 59.2% | 53.9% | 58.1% |
| Absolute net <sup>4</sup> | —% | 30.0% | 6.6% |
| Ownership type |  |  |  |
| Ground lease | 44.8% | 33.2% | 42.5% |
| Fee simple | 55.2% | 66.8% | 57.5% |

---

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| # OF LEASES BY SIZE | # OF LEASES BY SIZE | # OF LEASES BY SIZE |  |  |
| LEASED SQUARE FEET | MULTI-TENANT | SINGLE-TENANT | WALT | WALTR |
| 0 - 2500 | 3640 |  | 70.6 | 36.3 |
| 2501 - 5000 | 1764 | 2 | 82.8 | 42.3 |
| 5001 - 7500 | 611 | 5 | 93.8 | 48.4 |
| 7501 - 10000 | 320 | 5 | 97.1 | 48.4 |
| 10,001 + | 586 | 130 | 127.6 | 64.6 |
| Total Leases | 6921 | 142 | 106.6 | 54.2 |

---

1Excludes recently acquired or disposed properties, construction in progress, land held for development, corporate property, planned dispositions and assets classified as held for sale.

2Excludes leases with lease terms of one year or less.

3Includes redevelopment properties, development completion, and joint ventures.

4Tenant is typically responsible for operating expenses and capital obligations.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 21

------

---

| |
|:---|
| NOI Performance <sup>1</sup> |
| DOLLARS IN THOUSANDS, EXCEPT PER SQUARE FOOT DATA |
| REFLECTS COMBINED COMPANY RESULTS FOR ALL PERIODS |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SAME STORE CASH NOI | SAME STORE CASH NOI | SAME STORE CASH NOI | SAME STORE CASH NOI | SAME STORE CASH NOI | SAME STORE CASH NOI | SAME STORE CASH NOI | SAME STORE CASH NOI | SAME STORE CASH NOI | SAME STORE CASH NOI | SAME STORE CASH NOI |
|  | 2022 | 4Q 2022 | 3Q 2022 | 2Q 2022 | 1Q 2022 | 2021 | 4Q 2021 | 3Q 2021 | 2Q 2021 | 1Q 2021 |
| Base revenue | $859591 | $217273 | $216091 | $213034 | $213193 | $835925 | $210957 | $209611 | $208057 | $207300 |
| Operating expense recoveries | 253789 | 61652 | 65626 | 62852 | 63659 | 236719 | 58978 | 59346 | 58760 | 59635 |
| Revenues | $1113380 | $278925 | $281717 | $275886 | $276852 | $1072644 | $269935 | $268957 | $266817 | $266935 |
| Expenses | 390817 | 95789 | 101500 | 94922 | 98606 | 367691 | 91579 | 94077 | 90196 | 91839 |
| Cash NOI | $722563 | $183136 | $180217 | $180964 | $178246 | $704953 | $178356 | $174880 | $176621 | $175096 |
| Revenue per occ SF <sup>2</sup>  | $35.49 | $35.49 | $35.88 | $35.20 | $35.38 | $34.26 | $34.53 | $34.45 | $34.13 | $34.01 |
| Margin | 64.9% | 65.7% | 64.0% | 65.6% | 64.4% | 65.7% | 66.1% | 65.0% | 66.2% | 65.6% |
| Average occupancy | 89.1% | 89.2% | 89.1% | 89.0% | 88.8% | 88.9% | 88.8% | 88.7% | 88.8% | 89.1% |
| Period end occupancy | 89.3% | 89.3% | 89.2% | 89.1% | 88.8% | 88.8% | 88.8% | 88.7% | 88.6% | 88.9% |
| Number of properties | 593 | 593 | 593 | 593 | 593 | 593 | 593 | 593 | 593 | 593 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| SAME STORE GROWTH | SAME STORE GROWTH | SAME STORE GROWTH | SAME STORE GROWTH | SAME STORE GROWTH | SAME STORE GROWTH |
|  | YEAR-OVER-YEAR | YEAR-OVER-YEAR | YEAR-OVER-YEAR | YEAR-OVER-YEAR | YEAR-OVER-YEAR |
|  | 2022 | 4Q 2022 | 3Q 2022 | 2Q 2022 | 1Q 2022 |
| Revenue per occ SF <sup>2</sup> | 3.6% | 2.8% | 4.2% | 3.1% | 4.0% |
| Avg occupancy (bps) | +20 | +50 | +50 | +20 | -30 |
| Revenues | 3.8% | 3.3% | 4.7% | 3.4% | 3.7% |
| &nbsp;&nbsp;&nbsp;Base revenue | 2.8% | 3.0% | 3.1% | 2.4% | 2.8% |
| &nbsp;&nbsp;&nbsp;Exp recoveries | 7.2% | 4.5% | 10.6% | 7.0% | 6.7% |
| Expenses | 6.3% | 4.6% | 7.9% | 5.2% | 7.4% |
| Cash NOI | 2.5% | 2.7% | 3.1% | 2.5% | 1.8% |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| TOTAL CASH NOI | TOTAL CASH NOI | TOTAL CASH NOI | TOTAL CASH NOI | TOTAL CASH NOI | TOTAL CASH NOI | TOTAL CASH NOI |
|  | 4Q 2022 | 4Q 2021 | % CHANGE | 2022 | 2021 | % CHANGE |
| Same store cash NOI | 183136 | 178356 | 2.7% | 722563 | 704953 | 2.5% |
| Same store joint ventures | 1876 | 1600 | 17.3% | 7302 | 6426 | 13.6% |
|  | 185012 | 179956 | 2.8% | 729865 | 711379 | 2.6% |
| Acquisitions/development completions | 19376 | 9699 | 99.8% | 69314 | 18602 | 272.6% |
| Dispositions/assets held for sale/other | 1998 | 17598 | (88.6%) | 42050 | 76448 | (45.0%) |
| Joint venture property cash NOI | 2703 | 804 | 236.2% | 7920 | 1873 | 322.9% |
| Redevelopment | 2567 | 3248 | (21.0%) | 10548 | 16211 | (34.9%) |
| Proforma Cash NOI | $211656 | $211305 | 0.2% | $859697 | $824513 | 4.3% |

---

1Excludes recently acquired or disposed properties, development completions, construction in progress, land held for development, corporate property, reposition properties and assets classified as held for sale.

2Revenue per occ SF is calculated by dividing revenue by the average of the occupied SF for the period provided. Quarterly revenue per occ SF is annualized.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 22

------

---

| |
|:---|
| NOI Reconciliations |
| DOLLARS IN THOUSANDS |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| BOTTOM UP RECONCILIATION |  |  |  |  |  |  |  |  |
|  | 4Q 2022 | 3Q 2022 | 2Q 2022 | 1Q 2022 | 4Q 2021 | 3Q 2021 | 2Q 2021 | 1Q 2021 |
| Net income (loss) | ($35764) | $28304 | $6130 | $42227 | $21607 | ($2066) | $23096 | $24022 |
| Other income (expense) | 46772 | (89477) | 7479 | (29293) | (468) | 23000 | (2223) | (5220) |
| General and administrative expense | 14417 | 16741 | 10540 | 11036 | 8901 | 8207 | 8545 | 8499 |
| Depreciation and amortization expense | 185275 | 158117 | 55731 | 54041 | 51810 | 50999 | 49826 | 50079 |
| Other expenses <sup>1</sup> | 13580 | 82659 | 11034 | 9929 | 3850 | 3193 | 2840 | 2783 |
| Straight-line rent expense | 1358 | 1260 | 378 | 378 | 382 | 380 | 369 | 367 |
| Straight-line rent revenue | (11231) | (8975) | (1705) | (1587) | (1227) | (1550) | (1563) | (1461) |
| Other revenue <sup>2</sup> | (7330) | (5242) | (1961) | (2044) | (2134) | (2043) | (2075) | (1865) |
| Joint venture property cash NOI | 4579 | 3877 | 3627 | 3139 | 2404 | 2210 | 2164 | 1521 |
| Cash NOI | $211656 | $187264 | $91253 | $87826 | $85125 | $82330 | $80979 | $78725 |
| Pre-merger Legacy HTA NOI |  | 27114 | 128308 | 126276 | 126180 | 123807 | 123784 | 123583 |
| Proforma Cash NOI | $211656 | $214378 | $219561 | $214102 | $211305 | $206137 | $204763 | $202308 |
| Acquisitions/development completions | (19376) | (18527) | (17659) | (13752) | (9699) | (5771) | (2411) | (721) |
| Dispositions/assets held for sale/other | (1998) | (9201) | (14981) | (15870) | (17598) | (18759) | (19463) | (20628) |
| Joint venture property cash NOI | (4579) | (3877) | (3627) | (3139) | (2404) | (2210) | (2164) | (1521) |
| Redevelopment | (2567) | (2556) | (2330) | (3095) | (3248) | (4517) | (4104) | (4342) |
| Proforma Same store cash NOI | $183136 | $180217 | $180964 | $178246 | $178356 | $174880 | $176621 | $175096 |
| TOP DOWN RECONCILIATION |  |  |  |  |  |  |  |  |
|  | 4Q 2022 | 3Q 2022 | 2Q 2022 | 1Q 2022 | 4Q 2021 | 3Q 2021 | 2Q 2021 | 1Q 2021 |
| Rental income before rent concessions | $332652 | $301692 | $142073 | $139775 | $132853 | $132971 | $129609 | $129466 |
| Rent concessions | (3253) | (2761) | (1441) | (1286) | (1139) | (1225) | (1123) | (1077) |
| Rental income | 329399 | 298931 | 140632 | 138489 | 131714 | 131746 | 128486 | 128389 |
| Parking income | 2413 | 2428 | 1919 | 1753 | 2134 | 2187 | 1880 | 1658 |
| Interest from financing receivable, net | 2284 | 2034 | 1957 | 1930 | 1766 | 1917 | 510 |  |
| Exclude straight-line rent revenue | (11231) | (8975) | (1705) | (1587) | (1227) | (1550) | (1563) | (1461) |
| Exclude other non-cash revenue <sup>3</sup> | (3059) | (2280) | (1142) | (1322) | (1325) | (1261) | (1528) | (1573) |
| Cash revenue | 319806 | 292138 | 141661 | 139263 | 133062 | 133039 | 127785 | 127013 |
| Property operating expense | (117009) | (112473) | (57010) | (57464) | (53032) | (55518) | (51509) | (52215) |
| Exclude non-cash expenses <sup>4</sup> | 3764 | 4034 | 2975 | 2888 | 2691 | 2599 | 2539 | 2406 |
| Non-controlling interest | 516 | (312) |  |  |  |  |  |  |
| Joint venture property cash NOI | 4579 | 3877 | 3627 | 3139 | 2404 | 2210 | 2164 | 1521 |
| Cash NOI | $211656 | $187264 | $91253 | $87826 | $85125 | $82330 | $80979 | $78725 |
| Pre-merger Legacy HTA NOI |  | 27114 | 128308 | 126276 | 126180 | 123807 | 123784 | 123583 |
| Proforma Cash NOI | $211656 | $214378 | $219561 | $214102 | $211305 | $206137 | $204763 | $202308 |
| Acquisitions/development completions | (19376) | (18527) | (17659) | (13752) | (9699) | (5771) | (2411) | (721) |
| Dispositions/assets held for sale/other | (1998) | (9201) | (14981) | (15870) | (17598) | (18759) | (19463) | (20628) |
| Joint venture property cash NOI | (4579) | (3877) | (3627) | (3139) | (2404) | (2210) | (2164) | (1521) |
| Redevelopment | (2567) | (2556) | (2330) | (3095) | (3248) | (4517) | (4104) | (4342) |
| Proforma Same store cash NOI | $183136 | $180217 | $180964 | $178246 | $178356 | $174880 | $176621 | $175096 |

---

1Includes acquisition and pursuit costs, merger-related costs, bad debt, above and below market ground lease intangible amortization, leasing commission amortization, non-cash adjustments for financing receivables, and ground lease straight-line rent.

2Includes management fee income, interest, above and below market lease intangible amortization, lease inducement amortization, lease termination fees, deferred financing cost amortization and principle related to investment in financing receivable, and tenant improvement overage amortization.

3Includes above and below market lease intangibles, lease inducements, lease termination fees, deferred financing cost amortization, financing receivable adjustments, and TI amortization.

4Includes above and below market ground lease intangible amortization, leasing commission amortization, and ground lease straight-line rent.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 23

------

---

| |
|:---|
| NOI Reconciliations |
| DOLLARS IN THOUSANDS |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| RECONCILIATION OF NOI TO PROFORMA FULL QUARTER FFO AND NORMALIZED FFO | RECONCILIATION OF NOI TO PROFORMA FULL QUARTER FFO AND NORMALIZED FFO | RECONCILIATION OF NOI TO PROFORMA FULL QUARTER FFO AND NORMALIZED FFO | RECONCILIATION OF NOI TO PROFORMA FULL QUARTER FFO AND NORMALIZED FFO | RECONCILIATION OF NOI TO PROFORMA FULL QUARTER FFO AND NORMALIZED FFO |  |  |  |  |
|  | 4Q 2022 | PROFORMA 3Q 2022 | 2Q 2022 | 1Q 2022 | 4Q 2021 | 3Q 2021 | 2Q 2021 | 1Q 2021 |
| Cash NOI | $211656 | $214378 | $91253 | $87826 | $85125 | $82330 | $80979 | $78725 |
| General and administrative expense | (14417) | (18956) | (10540) | (11036) | (8901) | (8207) | (8545) | (8499) |
| Straight-line rent | 11231 | 11456 | 1705 | 1587 | 1227 | 1550 | 1563 | 1461 |
| Interest and other income (expense), net | (1168) | (172) | (125) | (81) | (250) |  | (262) | 500 |
| Management fees and other income | 2023 | 1629 | 819 | 722 | 809 | 782 | 547 | 292 |
| Note receivable interest income | 1943 | 1332 |  |  |  |  |  |  |
| Other non-cash revenue <sup>1</sup> | 3059 | 2781 | 1142 | 1322 | 1325 | 1261 | 1528 | 1573 |
| Other non-cash expenses <sup>2</sup> | (3764) | (4289) | (2975) | (2888) | (2691) | (2599) | (2539) | (2406) |
| Pre-merger Legacy HTA NOI |  | 1476 |  |  |  |  |  |  |
| Unconsolidated JV adjustments | (462) | (475) | (1127) | (1081) | (942) | (833) | (948) | (780) |
| Debt Covenant EBITDA | $210101 | $209160 | $80152 | $76371 | $75702 | $74284 | $72323 | $70866 |
| Interest expense | (64443) | (60391) | (15543) | (13661) | (13266) | (13334) | (13261) | (13262) |
| Loss on extinguishment of debt | 119 | (1091) |  | (1429) |  |  |  |  |
| Acquisition and pursuit costs | (92) | (482) | (1352) | (1303) | (1152) | (974) | (670) | (744) |
| Merger-related costs | (10777) | (79402) | (7085) | (6116) | (389) |  |  |  |
| Leasing commission amortization <sup>3</sup> | 2706 | 2731 | 2683 | 2600 | 2382 | 2294 | 2258 | 2111 |
| Non-real estate depreciation and amortization | (1323) | (1243) | (1080) | (983) | (937) | (903) | (885) | (879) |
| Non controlling interest | (382) |  |  |  |  |  |  |  |
| Unconsolidated JV adjustments | (8) |  |  | (34) | (37) | (2) | (8) | (2) |
| FFO | $135901 | $69282 | $57775 | $55445 | $62303 | $61365 | $59757 | $58090 |
| Acquisition and pursuit costs | 92 | 482 | 1352 | 1303 | 1152 | 974 | 670 | 744 |
| Merger-related costs | 10777 | 79402 | 7085 | 6116 | 389 |  |  |  |
| Lease intangible amortization | 137 | 127 | 584 | 309 | 192 | 48 | (6) | (72) |
| Significant non-recurring legal fees/forfeited earnest money received | 194 | 346 | 140 | 91 | 465 |  |  | (500) |
| Debt financing costs | 625 | 1091 |  | 1429 |  |  | 283 |  |
| Merger-related fair value adjustment | 11979 | 11844 |  |  |  |  |  |  |
| Unconsolidated JV normalizing items | 96 | 154 | 83 | 95 | 90 | 54 | 55 | 27 |
| Normalized FFO | $159801 | $162728 | $67019 | $64788 | $64591 | $62441 | $60759 | $58289 |

---

1Includes above and below market lease intangibles, interest income related to sales-type leases, lease inducements, lease termination fees, deferred financing cost amortization, and principle related to investment in financing receivable and TI amortization.

2Includes above and below market ground lease intangible amortization, leasing commission amortization, and ground lease straight-line rent.

3Leasing commission amortization is included in the real estate depreciation and amortization add-back for FFO.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 24

------

---

| |
|:---|
| EBITDA Reconciliations |
| DOLLARS IN THOUSANDS |
| REFLECTS COMBINED COMPANY RESULTS FOR ALL PERIODS |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| RECONCILIATION OF EBITDA |  |  |  |  |
|  |  | 3Q 2022 | 3Q 2022 | 2Q 2022 |
|  | 4Q 2022 | PROFORMA FULL QUARTER | AS REPORTED | PRE-MERGER COMBINED |
| Net income | ($35764) | $21533 | $28615 | $20552 |
| Interest expense | 64443 | 60391 | 53044 | 40303 |
| Depreciation and amortization | 185275 | 186643 | 158117 | 130782 |
| Unconsolidated JV depreciation and amortization | 4020 | 3526 | 3526 | 3295 |
| EBITDA | $217974 | $272093 | $243302 | $194932 |
| Leasing commission amortization | 2706 | 2731 | 2731 | 2683 |
| Gain on sales of real estate properties | (73083) | (143908) | (143908) | (8496) |
| Impairments on real estate properties | 54452 |  |  |  |
| EBITDAre <sup>1</sup> | $202049 | $130916 | $102125 | $189119 |
| EBITDA | $217974 | $272093 | $243302 | $194932 |
| Acquisition and pursuit costs | 92 | 482 | 482 | 1449 |
| Merger-related costs | 10777 | 79402 | 79402 | 12192 |
| Gain on sales of real estate properties | (73083) | (143908) | (143908) | (8496) |
| Impairments on real estate assets | 54452 |  |  |  |
| Loss on extinguishment of debt | (119) | 1091 | 1091 | 3615 |
| Unconsolidated JV adjustments | 8 |  |  |  |
| Debt Covenant EBITDA | $210101 | $209160 | $180369 | $203692 |
| Leasing commission amortization | 2706 | 2731 | 2731 | 2683 |
| Lease intangible amortization | 137 | 127 | (2) | 584 |
| Acquisition/disposition timing impact <sup>2</sup> | (1704) | (3079) | (1155) | 2337 |
| Stock based compensation | 3573 | 3666 | 3666 | 5547 |
| Other normalizing adjustments <sup>3</sup> |  |  |  | 1702 |
| Unconsolidated JV adjustments | 96 | 154 | 154 | 83 |
| Adjusted EBITDA | $214909 | $212759 | $185763 | $216628 |
| Run-rate adjustments |  |  |  |  |
| January 2023 asset sales <sup>5</sup> | (1801) |  |  |  |
| Run-rate adjusted EBITDA | $213108 |  |  |  |

---

1Earnings before interest, taxes, depreciation and amortization for real estate ("EBITDAre") is an operating performance measure adopted by NAREIT. NAREIT defines EBITDAre equal to "net income (computed in accordance with GAAP) plus interest expense, income tax expense, depreciation and amortization, impairments and minus gains on the disposition of depreciated property."

2Adjusted to reflect quarterly EBITDA from properties acquired or disposed in the quarter.

3For the three months ended June 30, 2022, other normalizing adjustments for HTA include the following: (i) legal and professional fees related to the whistleblower investigation and other audit committee matters of $1.0 million; and (ii) net costs related to nonrecurring legal and tenant matters of $0.7 million. For the six months ended June 30, 2022, other normalizing adjustments include the following: (i) legal and professional fees related to the whistleblower investigation and other audit committee matters of $1.1 million; (ii) net costs related to nonrecurring legal and tenant matters of $0.8 million; (iii) additional board meeting fees of $0.2 million; and (iv) professional fees related to strategic review matters of $0.1 million.

4FFO and EBITDA includes the impact of straight-line rent.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 25

------

---

| |
|:---|
| Components of Net Asset Value |
| DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| CASH NOI BY PROPERTY TYPE | CASH NOI BY PROPERTY TYPE | CASH NOI BY PROPERTY TYPE | CASH NOI BY PROPERTY TYPE | CASH NOI BY PROPERTY TYPE | CASH NOI BY PROPERTY TYPE | CASH NOI BY PROPERTY TYPE | CASH NOI BY PROPERTY TYPE |
|  | 4Q 2022 | 4Q 2022 | 4Q 2022 | 4Q 2022 | 4Q 2022 | 4Q 2022 |  |
| ASSET TYPE | SAME STORE <sup>1</sup> | ACQ./DEV. COMPLETIONS <sup>2</sup> | JOINT VENTURE | REDEVELOPMENT | TIMING/OTHER ADJUSTMENTS <sup>3</sup> | ADJUSTED CASH NOI | ANNUALIZED ADJUSTED NOI |
| MOB/outpatient | $163240 | $19376 | $3842 | $2567 | $2399 | $191424 | $765696 |
| Inpatient/Surgical | 12485 |  | 737 |  |  | 13222 | 52888 |
| Office | 7411 |  |  |  |  | 7411 | 29644 |
| Total Cash NOI | $183136 | $19376 | $4579 | $2567 | $2399 | $212057 | $848228 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| DEVELOPMENT PROPERTIES |  | TOTAL SHARES OUTSTANDING | TOTAL SHARES OUTSTANDING | TOTAL SHARES OUTSTANDING |
| Land held for development | $74265 | **As of February 24, 2023** <sup>8</sup> | **As of February 24, 2023** <sup>8</sup> | 384822854 |
| Re/development budget | 235400 |  |  |  |
|  | $309665 | IMPLIED CAP RATE | IMPLIED CAP RATE | IMPLIED CAP RATE |
|  |  |  | STOCK PRICE | IMPLIED CAP RATE |
|  |  | **As of February 24, 2023** <sup>8</sup> | $19.68 | 6.7% |
| OTHER ASSETS |  |  |  |  |
| Assets held for sale <sup>4</sup> | $19210 | 4Q 2022 High | $21.40 | 6.3% |
| Unstabilized properties <sup>5</sup> | 273105 | 4Q 2022 Low | $18.39 | 6.9% |
| Cash and other assets <sup>6</sup> | 337961 |  |  |  |
|  | $630276 |  |  |  |
| DEBT |  |  |  |  |
| Unsecured credit facility | $385000 |  |  |  |
| Unsecured term loans | 1500000 |  |  |  |
| Senior notes | 3699500 |  |  |  |
| Mortgage notes payable | 84122 |  |  |  |
| Company share of joint venture debt | 23572 |  |  |  |
| Remaining re/development funding | 151071 |  |  |  |
| Other liabilities <sup>7</sup> | 273045 |  |  |  |
|  | $6116310 |  |  |  |

---

1See NOI Performance schedule on page [22](#i0d065b2d4cc94561ad8d38a7cc40ded4_73) for details on same store NOI.

2Adjusted to reflect quarterly NOI from properties acquired or stabilized re/developments completed during the full eight quarter period that are not included in same store NOI.

3Timing adjustments include adjustments to reflect full quarterly stabilized NOI of current quarter acquisitions of $0.3 million, re/development completion adjustments of $0.7 million, and management fee income of $1.9 million. This is partially offset by $0.5 million of positive NOI for unstabilized properties, which are shown in other assets

4Assets held for sale includes one real estate property that is excluded from same store NOI and reflects the expected sale price.

5Includes 39 properties comprising 1.2 million square feet that generated positive NOI of $0.5 million at gross book value.

6Includes cash of $61.0 million, prepaid assets of $85.3 million, notes receivable of $99.6 million, accounts receivable of $51.8 million, prepaid ground leases of $18.0 million, and other investments of $6.0 million. In addition, includes the Company's occupied portion of its corporate headquarters in Nashville and Charleston of $16.3 million.

7Includes only liabilities that are expected to reduce future cash or NOI and that are currently producing non-cash benefits to NOI. Included are accounts payable and accrued liabilities of $244.0 million, security deposits of $28.5 million, and deferred operating expense reimbursements of $0.5 million.

8Total shares outstanding includes OP units.

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 26

------

---

| |
|:---|
| Components of Expected FFO |
| DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA |

---

---

| | | | |
|:---|:---|:---|:---|
| | 2022 | EXPECTED 2023 | EXPECTED 2023 |
| | ACTUAL | LOW | HIGH |
| SAME STORE |  |  |  |
| Total absorption (bps) | 50 | 40 | 80 |
| Revenue per occupied square foot | $35.49 | $36.25 | $37.00 |
| Cash NOI margin | 64.9% | 64.0% | 65.0% |
| Cash leasing spreads | 2.8% | 3.0% | 4.0% |
| Lease retention rate | 78.9% | 75.0% | 90.0% |
| Cash NOI growth | 2.5% | 2.5% | 3.5% |
| NON-SAME STORE |  |  |  |
| Normalized G&A | 81640 | 57000 | 60000 |
| Straight-line rent, net | 20124 | 32000 | 36000 |
| *Funding activity* |  |  |  |
| Acquisitions | $530053 | $75000 | $125000 |
| Completed dispositions | 1272986 | 112810 | 112810 |
| Additional dispositions |  | 225000 | 350000 |
| Re/development | 79410 | 100000 | 125000 |
| 1st generation TI and acq. capex | 63341 | 45000 | 85000 |
| Maintenance capex |  |  |  |
| &nbsp;&nbsp;&nbsp;2nd generation TI | 54309 | 50000 | 60000 |
| &nbsp;&nbsp;&nbsp;Leasing commissions paid | 31992 | 30000 | 35000 |
| &nbsp;&nbsp;&nbsp;Capital expenditures | 64011 | 60000 | 65000 |
| Total maintenance capex | 150312 | 140000 | 160000 |
| *Cash yield* |  |  |  |
| Acquisitions | 5.3% | 6.0% | 6.5% |
| Dispositions | 4.8% | 6.0% | 7.0% |
| Development (stabilized) |  | 6.5% | 8.0% |
| Redevelopment (stabilized) |  | 8.0% | 11.0% |
| Net debt to adjusted EBITDA | 6.4x | 6.0x | 6.5x |

---

 <br> HEALTHCARE REALTY 4Q 2022 SUPPLEMENTAL INFORMATION 27