# EDGAR Filing Document

**Accession Number:** 0001360604
**File Stem:** 0001360604-26-000015
**Filing Date:** 2026-2
**Character Count:** 142247
**Document Hash:** 0385a3fcbffa4064aa2adcc0246daad4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001360604-26-000015.hdr.sgml**: 20260212

**ACCESSION NUMBER**: 0001360604-26-000015

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 20

**CONFORMED PERIOD OF REPORT**: 20260212

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

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260212

**DATE AS OF CHANGE**: 20260212

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Healthcare Realty Trust Inc
- **CENTRAL INDEX KEY:** 0001360604
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35568
- **FILM NUMBER:** 26626452

**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' encoding='ASCII'? hr-20260212

**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): February 12, 2026 (February 12, 2026)**

**Healthcare Realty Trust Incorporated** 

(Exact name of registrant as specified in its charter)

---

| | | | |
|:---|:---|:---|:---|
| | **Maryland** | **001-35568** | **20-4738467** |
| (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 and Dividend Press Release**

On February 12, 2026, Healthcare Realty Trust Incorporated (the "Company") issued a press release announcing its earnings and dividend for the fourth quarter ended December 31, 2025. 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, 2025, which is also contained on its website (www.healthcarerealty.com). See Exhibit 99.2 to this Current Report on Form 8-K.

**Commercial Paper Program**

On February 12, 2026, the Company also announced the establishment of its inaugural commercial paper program which allows the Company to issue short-term, unsecured commercial paper notes up to $600 million. A copy of this press release is furnished as Exhibit 99.3 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.

---

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

---

(d) Exhibits.

---

| | |
|:---|:---|
| 99.1 | <u>[Fourth quarter earnings and dividend press release, dated February 12, 2026.](exhibit991fourthquarter202.htm)</u> |
| 99.2 | <u>[Supplemental Information for the fourth quarter ended December 31, 2025.](exhibit992supplementalinfo.htm)</u> |
| 99.3 | <u>[Commercial Paper Program press release, dated February 12, 2026.](exhibit993commercialpapera.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: February 12, 2026 | By: | /s/ Daniel Gabbay |
|  |  | Name: Daniel Gabbay |
|  |  | Title: Executive Vice President and Chief Financial Officer |

---

## Exhibit 99.1

Ron Hubbard

Vice President, Investor Relations

P: 615.269.8290

News Release

HEALTHCARE REALTY REPORTS FOURTH QUARTER 2025 RESULTS

NASHVILLE, Tennessee, February 12, 2026 **-** Healthcare Realty Trust Incorporated (NYSE:HR) today announced results for the fourth quarter ended December 31, 2025 and introduced full year 2026 guidance.

"2025 represented a transformational year for Healthcare Realty," commented Peter Scott, the Company's President and Chief Executive Officer. "Our operational team delivered same-store growth that continues to exceed historical levels while our transactions team exceeded targets with $1.2 billion in dispositions at attractive pricing levels. We are encouraged by secular long-term trends driving demand for outpatient medical services, tenant space and assets across the country. We have strategically strengthened our corporate governance, leadership team and balance sheet over the past nine months, and I would like to thank the entire Healthcare Realty team for their strong efforts as we position the Company for sustainable long-term growth."

FOURTH QUARTER 2025 HIGHLIGHTS

• GAAP Net Income of $0.04 per share, NAREIT FFO of $0.36 per share, Normalized FFO of $0.40 per share, and FAD of $113.9 million (payout ratio of 75%)

• Same store cash NOI growth of +5.5% was driven by tenant retention of 82.7% with +3.7% cash leasing spreads

• Fourth quarter lease executions totaled 1.5 million square feet including 316,000 square feet of new lease executions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Sequential lease up of over 500 bps in redevelopment projects versus prior quarter

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Significant leasing momentum in early 2026 with nearly 1 million square feet of new and renewal leases executed year-to-date

• During the fourth quarter and through February, completed asset sales of $682 million, inclusive of one transaction expected to close later this month

• Net Debt to Adjusted EBITDA of 5.4x

• In December, Moody's Investors Service revised outlook to Stable and affirmed a Baa2 credit rating

FULL YEAR 2025 HIGHLIGHTS

• GAAP Net Loss of $0.71 per share, NAREIT FFO of $1.38 per share, Normalized FFO of $1.61 per share, and FAD of $448.3 million (payout ratio of 87%)

• Same store cash NOI growth of +4.8% was driven by 103 basis points in occupancy gain and tenant retention of 81.5% with +3.1% cash leasing spreads

• Full year lease executions totaled approximately 5.8 million square feet including 1.6 million square feet of new lease executions

• During 2025 and through February 2026, completed asset sales of $1.2 billion, inclusive of one transaction expected to close later this month, through 34 separate transactions at a blended cap rate of 6.7%

• Net Debt to Adjusted EBITDA was 5.4x at December 31, 2025, down from 6.1x at prior year end

---

| | |
|:---|:---|
| ![hrlogo-rgb1.jpg](hrlogo-rgb1.jpg) | HEALTHCAREREALTY.COM \| PAGE 1 OF 8 |

---

------

• Repaid approximately $650 million of term loans and $250 million of senior notes. Extended $1.5 billion revolver to mature in July 2030 (inclusive of extension options) and added 1 to 2 years of additional extension options on outstanding term loans

• Reduced run-rate G&A expense by $10 million through cost saving implementations

• Appointed Peter Scott as President & Chief Executive Officer, Daniel Gabbay as Chief Financial Officer and supplemented leadership team with experienced industry executives

FOURTH QUARTER AND FULL YEAR 2025 RESULTS

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | THREE MONTHS ENDED | THREE MONTHS ENDED | THREE MONTHS ENDED | THREE MONTHS ENDED | YEAR ENDED | YEAR ENDED | YEAR ENDED | YEAR ENDED |
| | DECEMBER 31, 2025 | DECEMBER 31, 2025 | DECEMBER 31, 2024 | DECEMBER 31, 2024 | DECEMBER 31, 2025 | DECEMBER 31, 2025 | DECEMBER 31, 2024 | DECEMBER 31, 2024 |
| *(in thousands, except per share amounts)* | AMOUNT | PER SHARE | AMOUNT | PER SHARE | AMOUNT | PER SHARE | AMOUNT | PER SHARE |
| GAAP Net income (loss) | $14391 | $0.04 | $(106846) | $(0.31) | $(246071) | $(0.71) | $(654485) | $(1.81) |
| NAREIT FFO, diluted | $126981 | $0.36 | $105642 | $0.30 | $490048 | $1.38 | $193257 | $0.52 |
| Normalized FFO, diluted | $142147 | $0.40 | $143414 | $0.40 | $568946 | $1.61 | $576785 | $1.56 |

---

LEASING ACTIVITY

During the fourth quarter, the Company executed 292 new and renewal leases for 1.5 million square feet with a weighted average lease term of 6.2 years and average annual escalators of 3.0%.

Key leasing highlights:

• Memphis, TN. 166,000 square feet of renewals with our health system partner, Baptist Memorial Health, maintaining 100% occupancy across four on-campus medical office buildings

• Austin, TX. 92,100 square feet of renewals with Baylor Scott & White Health in two fully occupied on-campus assets

• Hartford, CT. 65,500 square feet of new leases with Hartford Health (A rated) expanding our existing relationship, which also resulted in a substantial credit upgrade from the former tenant, Prospect Health

• Charlotte, NC. 15,500 square foot new lease with a leading multi-specialty healthcare provider aligned with Novant Health

CAPITAL ALLOCATION

<u>Dispositions</u>

During the fourth quarter and through February, the Company successfully completed most of its previously identified dispositions for a total of $682 million, inclusive of one transaction expected to close later this month. A summary of the significant sale transactions is as follows:

• Portfolio Sale/Various Markets. Completed strategic market exits of the El Paso, TX; Des Moines, IA; Fort Wayne, IN; Cincinnati, OH; Salt Lake City, UT; Las Vegas, NV; and Kokomo, IN MSAs with the sale of a 25-property portfolio for $348.9 million to a single private purchaser, reducing exposure to non-priority markets and further refining the Company's core operating portfolio

• Phoenix, AZ. Disposed of two unaffiliated, off-campus properties to private market purchasers for $27.5 million. One asset was fully vacant at the time of the sale

• Atlanta, GA. Opportunistic sale of one fully stabilized asset to the affiliated health system at a premium valuation of $21.9 million

 <br> HEALTHCARE REALTY TRUST INCORPORATED HEALTHCAREREALTY.COM \| PAGE 2 OF 8

------

• Jacksonville, FL. Completed strategic market exit of the Jacksonville, FL MSA with the $18.6 million sale of two fully-leased MOBs at attractive market pricing

<u>Development and Redevelopment</u>

During the fourth quarter, the Company added five new redevelopments and made significant progress on its development and redevelopment pipeline, advancing several key projects across major markets. Highlights of new projects commenced include:

• Houston, TX. Part of a two-MOB cluster in the growing Clear Lake submarket located between two major hospitals, HCA Houston Clear Lake and Houston Methodist Clear Lake. The $10.4 million redevelopment will transform the large user space layouts into modern, multi-tenant clinical suites

• Denver, CO. A two-MOB cluster located in a rapidly growing submarket between UC Highlands Ranch hospital and Advent Health Littleton hospital. The $10.2 million redevelopment project will modernize the properties and deliver an expected return on investment through lease up of 31,000 square feet at strong rental rates

<u>Balance Sheet</u>

• Debt paydown from asset sales reduced Net Debt to Adjusted EBITDA to 5.4x. At year-end, the Company has approximately $1.4 billion of liquidity on the line of credit and cash on hand

• In the fourth quarter, the Company fully repaid $542 million of term loans due in 2027

• In January 2026, the Company repurchased 2.9 million shares of its common stock at an average price of $17.27 per share for a total of $50 million

• In addition, on February 12, 2026, Healthcare Realty announced the establishment of its inaugural commercial paper program, with a total size of up to $600 million, further diversifying the Company's range of financing alternatives

DIVIDEND

The Board unanimously approved a common stock dividend in the amount of $0.24 per share to be paid on March 11, 2026, to Class A common stockholders of record on February 24, 2026. Additionally, the eligible holders of operating partnership units will receive a distribution of $0.24 per unit, equivalent to the Company's Class A common stock dividend.

GUIDANCE

The Company's 2026 per share estimated guidance ranges are as follows:

---

| | | | |
|:---|:---|:---|:---|
| | ACTUAL | 2026 GUIDANCE | 2026 GUIDANCE |
| | 2025 | LOW | HIGH |
| Earnings per share | $(0.71) | $(0.05) | $0.05 |
| NAREIT FFO per share | $1.38 | $1.44 | $1.50 |
| Normalized FFO per share | $1.61 | $1.58 | $1.64 |
| Same Store Cash NOI growth | 4.8% | 3.5% | 4.5% |

---

*The 2026 annual guidance range reflects the Company's view of current and future market conditions, including assumptions with respect to rental rates, occupancy levels, interest rates, and operating and general and administrative expenses. The Company's guidance does not contemplate impacts from gains or losses from dispositions, potential impairments, or debt extinguishment costs, if any. The Company's guidance also does not include any future acquisitions, developments or share issuances or repurchases, other than as discussed in the detailed guidance assumptions on page 30 of the 4Q 2025 Supplemental. There can be no assurance that the Company's actual results will not be materially higher or lower than these expectations. If actual results or timing vary from these assumptions, the Company's expectations may change. See page 30 of the 4Q 2025 Supplemental for additional details and assumptions.* 

 <br> HEALTHCARE REALTY TRUST INCORPORATED HEALTHCAREREALTY.COM \| PAGE 3 OF 8

------

EARNINGS CALL

On Friday, February 13, 2026, at 9:00 a.m. Eastern Time, Healthcare Realty Trust has scheduled a conference call to discuss earnings results, quarterly activities, general operations of the Company and industry trends.

Simultaneously, a webcast of the conference call will be available to interested parties at https://investors.healthcarerealty.com/corporate-profile/webcasts under the Investor Relations section. A webcast replay will be available following the call at the same address.

Live Conference Call Access Details:

• Domestic Dial-In Number: +1 800-715-9871 access code 4950066

• All Other Locations: +1 646-307-1963 access code 4950066

Replay Information:

• Domestic Dial-In Number: +1 800-770-2030 access code 4950066

• All Other Locations: +1 609-800-9909 access code 4950066

ABOUT HEALTHCARE REALTY

Healthcare Realty Trust Incorporated (NYSE: HR) is the largest public, pure-play owner, operator and developer of medical outpatient buildings in the United States.

Additional information regarding the Company, including this quarter's operations, can be found at www.healthcarerealty.com. In addition to the historical information contained within, this press release contains certain forward-looking statements with respect to the Company. 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 such as "may," "will," "expect," "believe," "anticipate," "target," "intend," "plan," "estimate," "project," "continue," "should," "could," "budget" and other comparable terms. These forward-looking statements are based on the Company's current plans, objectives, estimates, expectations and intentions and inherently involve significant risks and uncertainties. Such risks and uncertainties include, among other things, the following: the Company's expected results may not be achieved; risks related to future opportunities and plans for the Company, including the uncertainty of expected future financial performance and results of the Company; pandemics or other health crises; 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; other legal and operational matters; and other risks and uncertainties affecting the Company, including those described from time to time under the caption "Risk Factors" and elsewhere in the Company's filings and reports with the SEC, including the Company's Annual Report on Form 10-K for the year ended December 31, 2024. Moreover, other risks and uncertainties of which the Company is not currently aware may also affect the Company's forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made, except as required by law. Stockholders and investors are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in the Company's filings and reports, including, without limitation, estimates and projections regarding the performance of development projects the Company is pursuing. For a detailed discussion of the Company's risk factors, please refer to the Company's filings with the SEC, including this report and the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

 <br> HEALTHCARE REALTY TRUST INCORPORATED HEALTHCAREREALTY.COM \| PAGE 4 OF 8

------

---

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

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ASSETS |  |  |  |  |  |
|  | 4Q 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| Real estate properties |  |  |  |  |  |
| Land | $1060254 | $1066616 | $1105231 | $1134635 | $1143468 |
| Buildings and improvements | 8514165 | 8557270 | 9199089 | 9729912 | 9707066 |
| Lease intangibles | 455254 | 504309 | 567244 | 631864 | 664867 |
| Personal property | 7056 | 6854 | 6944 | 9938 | 9909 |
| Investment in financing receivables, net | 123249 | 123346 | 124134 | 123813 | 123671 |
| Financing lease right-of-use assets | 75083 | 75462 | 76574 | 76958 | 77343 |
| Construction in progress |  |  | 40421 | 35101 | 31978 |
| Land held for development | 57535 | 57203 | 49110 | 52408 | 52408 |
| Total real estate investments | 10292596 | 10391060 | 11168747 | 11794629 | 11810710 |
| Less accumulated depreciation and amortization | (2397795) | (2381297) | (2494169) | (2583819) | (2483656) |
| Total real estate investments, net | 7894801 | 8009763 | 8674578 | 9210810 | 9327054 |
| Cash and cash equivalents | 26172 | 43345 | 25507 | 25722 | 68916 |
| Assets held for sale, net | 143580 | 604747 | 358207 | 6635 | 12897 |
| Operating lease right-of-use assets | 204906 | 209291 | 243910 | 259764 | 261438 |
| Investments in unconsolidated joint ventures | 453607 | 458627 | 463430 | 470418 | 473122 |
| Other assets, net | 487795 | 533874 | 469940 | 522920 | 507496 |
| Total assets | $9210861 | $9859647 | $10235572 | $10496269 | $10650923 |
| LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS, AND STOCKHOLDERS' EQUITY |  |  |  |  |  |
|  | 4Q 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| Liabilities |  |  |  |  |  |
| Notes and bonds payable | $3911423 | $4485706 | $4694391 | $4732618 | $4662771 |
| Accounts payable and accrued liabilities | 211071 | 173784 | 194076 | 144855 | 222510 |
| Liabilities of properties held for sale | 15160 | 69808 | 30278 | 422 | 1283 |
| Operating lease liabilities | 162922 | 166231 | 203678 | 224117 | 224499 |
| Financing lease liabilities | 73130 | 72654 | 73019 | 72585 | 72346 |
| Other liabilities | 160530 | 146618 | 158704 | 174830 | 161640 |
| Total liabilities | 4534236 | 5114801 | 5354146 | 5349427 | 5345049 |
| Redeemable non-controlling interests | 3252 | 4332 | 4332 | 4627 | 4778 |
| Stockholders' equity |  |  |  |  |  |
| Preferred stock, $0.01 par value; 200,000 shares authorized |  |  |  |  |  |
| Common stock, $0.01 par value; 1,000,000 shares authorized | 3516 | 3516 | 3516 | 3510 | 3505 |
| Additional paid-in capital | 9137257 | 9134486 | 9129338 | 9121269 | 9118229 |
| Accumulated other comprehensive (loss) income | (5174) | (6461) | (9185) | (7206) | (1168) |
| Cumulative net income attributable to common stockholders | 128238 | 113847 | 171585 | 329436 | 374309 |
| Cumulative dividends | (4646944) | (4562454) | (4477940) | (4368739) | (4260014) |
| Total stockholders' equity | 4616893 | 4682934 | 4817314 | 5078270 | 5234861 |
| Non-controlling interest | 56480 | 57580 | 59780 | 63945 | 66235 |
| Total equity | 4673373 | 4740514 | 4877094 | 5142215 | 5301096 |
| Total liabilities, redeemable non-controlling interests, and stockholders' equity | $9210861 | $9859647 | $10235572 | $10496269 | $10650923 |

---

 <br> HEALTHCARE REALTY TRUST INCORPORATED HEALTHCAREREALTY.COM \| PAGE 5 OF 8

------

---

| |
|:---|
| Statements of Income |
| AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | 4Q 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| Revenues |  |  |  |  |  |
| Rental income | $274731 | $287399 | $287070 | $288857 | $300065 |
| Interest income | 3614 | 3480 | 3449 | 3731 | 4076 |
| Other operating | 7958 | 6886 | 6983 | 6389 | 5625 |
|  | 286303 | 297765 | 297502 | 298977 | 309766 |
| Expenses |  |  |  |  |  |
| Property operating | 110732 | 113456 | 109924 | 114963 | 114415 |
| General and administrative | 13787 | 21771 | 23482 | 13530 | 34208 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Normalizing items* <sup>1</sup> | *(3469)* | *(12046)* | *(10302)* | *(502)* | *(22991)* |
| Normalized general and administrative | 10318 | 9725 | 13180 | 13028 | 11217 |
| Transaction costs | 300 | 125 | 593 | 1011 | 1577 |
| Depreciation and amortization | 127408 | 137841 | 147749 | 150969 | 160330 |
|  | 252227 | 273193 | 281748 | 280473 | 310530 |
| Other income (expense) |  |  |  |  |  |
| Interest expense before merger-related fair value | (37337) | (41927) | (42766) | (44366) | (47951) |
| *Merger-related fair value adjustment* | *(10852)* | *(10715)* | *(10580)* | *(10446)* | *(10314)* |
| Interest expense | (48189) | (52642) | (53346) | (54812) | (58265) |
| Gain on sales of real estate properties and other assets | 135711 | 76771 | 20004 | 2904 | 32082 |
| Loss on extinguishment of debt | (165) | (286) |  |  | (237) |
| Impairment of real estate assets and credit loss reserves | (105806) | (104362) | (142348) | (12081) | (81098) |
| Equity (loss) income from unconsolidated joint ventures | (634) | 287 | 158 | 1 | 224 |
| Interest and other (expense) income, net | (402) | (2884) | (366) | 95 | (154) |
|  | (19485) | (83116) | (175898) | (63893) | (107448) |
| Net income (loss) | $14591 | $(58544) | $(160144) | $(45389) | $(108212) |
| Net (income) loss attributable to non-controlling interests | (200) | 806 | 2293 | 516 | 1366 |
| Net income (loss) attributable to common stockholders | $14391 | $(57738) | $(157851) | $(44873) | $(106846) |
| Basic earnings per common share | $0.04 | $(0.17) | $(0.45) | $(0.13) | $(0.31) |
| Diluted earnings per common share | $0.04 | $(0.17) | $(0.45) | $(0.13) | $(0.31) |
| Weighted average common shares outstanding - basic | 350052 | 349964 | 349628 | 349539 | 351560 |
| Weighted average common shares outstanding - diluted <sup>2</sup> | 350052 | 349964 | 349628 | 349539 | 351560 |

---

1Normalizing items primarily include restructuring, severance-related costs and non-routine advisory fees associated with shareholder engagement.

2Potential common shares are not included in the computation of diluted earnings per share when a loss exists (or when dividends paid are greater than income), as the effect would be an antidilutive per share amount. As a result, the outstanding limited partnership units in the Company's operating partnership ("OP"), totaling 4,280,972 units were not included.

 <br> HEALTHCARE REALTY TRUST INCORPORATED HEALTHCAREREALTY.COM \| PAGE 6 OF 8

------

---

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

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | 4Q 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| Net income (loss) attributable to common stockholders | $14391 | $(57738) | $(157851) | $(44873) | $(106846) |
| *Net income (loss) attributable to common stockholders/diluted share* <sup>3</sup> | *$0.04* | *$(0.17)* | *$(0.45)* | *$(0.13)* | *$(0.31)* |
| Gain on sales of real estate assets | (135711) | (76771) | (20004) | (2904) | (32082) |
| Impairments of real estate assets | 105706 | 104362 | 140877 | 10145 | 75423 |
| Real estate depreciation and amortization | 134736 | 143187 | 152936 | 155288 | 164656 |
| Non-controlling income (loss) from operating partnership units | 200 | (806) | (2293) | (599) | (1422) |
| Unconsolidated JV depreciation, amortization and impairment | 7659 | 6688 | 6706 | 6717 | 5913 |
| FFO adjustments | $112590 | $176660 | $278222 | $168647 | $212488 |
| *FFO adjustments per common share - diluted* | *$0.32* | *$0.50* | *$0.79* | *$0.48* | *$0.60* |
| NAREIT FFO | $126981 | $118922 | $120371 | $123774 | $105642 |
| *NAREIT FFO per common share - diluted* | *$0.36* | *$0.34* | *$0.34* | *$0.35* | *$0.30* |
| Transaction costs | 300 | 125 | 593 | 1011 | 1577 |
| Lease intangible amortization | (698) | (203) | (222) | (228) | (2348) |
| Non-routine tax and legal matters | (682) | 9 | 478 | 77 | 306 |
| Debt financing costs <sup>4</sup> | 1614 | 3493 |  |  | 237 |
| Restructuring and severance-related charges | 3469 | 12046 | 10302 | 502 | 22991 |
| Credit losses and (gains) losses on other assets, net | 100 |  | 1471 | 1936 | 4582 |
| Merger-related fair value adjustment | 10852 | 10715 | 10580 | 10446 | 10314 |
| Unconsolidated JV normalizing items <sup>5</sup> | 211 | 233 | 163 | 204 | 113 |
| Normalized FFO adjustments | $15166 | $26418 | $23365 | $13948 | $37772 |
| *Normalized FFO adjustments per common share - diluted* | *$0.04* | *$0.07* | *$0.07* | *$0.04* | *$0.11* |
| Normalized FFO  | $142147 | $145340 | $143736 | $137722 | $143414 |
| *Normalized FFO per common share - diluted* | *$0.40* | *$0.41* | *$0.41* | *$0.39* | *$0.40* |
| Non-real estate depreciation and amortization | 2522 | 1139 | 1184 | 1269 | 1385 |
| Non-cash interest amortization, net <sup>6</sup> | 1396 | 1384 | 1130 | 1217 | 1239 |
| Rent reserves, net | 582 | 146 | 130 | 94 | (369) |
| Straight-line amortization, net | (6554) | (6924) | (8022) | (7891) | (8032) |
| Stock-based compensation | 3308 | 3386 | 3887 | 3028 | 3028 |
| Unconsolidated JV non-cash items <sup>7</sup> | (348) | (463) | (356) | (253) | (277) |
| Normalized FFO adjusted for non-cash items | $143053 | $144008 | $141689 | $135186 | $140388 |
| &nbsp;&nbsp;&nbsp;2nd generation TI | (11120) | (9398) | (12036) | (14885) | (20003) |
| &nbsp;&nbsp;&nbsp;Leasing commissions paid | (7645) | (7438) | (5187) | (11394) | (11957) |
| &nbsp;&nbsp;&nbsp;Building capital | (10413) | (10319) | (9112) | (6687) | (8347) |
| Total maintenance capex | $(29178) | $(27155) | $(26335) | $(32966) | $(40307) |
| FAD | $113875 | $116853 | $115354 | $102220 | $100081 |
| **Quarterly dividends and OP distributions** | $85506 | $85536 | $110486 | $109840 | $110808 |
| **FFO wtd avg common shares outstanding - diluted** <sup>8</sup> | 354914 | 354690 | 354078 | 353522 | 355874 |

---

1Funds from operations ("FFO") and FFO per share are operating performance measures adopted by 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."

2FFO, Normalized FFO and Funds Available for Distribution ("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 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.

3Potential common shares are not included in the computation of diluted earnings per share when a loss exists (or when dividends paid are greater than income), as the effect would be an antidilutive per share amount.

4Includes loss on debt extinguishment, loss on derivatives, and legal fees related to the amended and restated credit facility.

5Includes the Company's proportionate share of normalizing items related to unconsolidated joint ventures such as lease intangibles and transaction costs.

6Includes the amortization of deferred financing costs, discounts and premiums, and non-cash financing receivable amortization.

7Includes the Company's proportionate share of straight-line rent, net and rent reserves, net related to unconsolidated joint ventures.

8The Company utilizes the treasury stock method, which includes the dilutive effect of nonvested share-based awards outstanding of 581,073 for the three months ended December 31, 2025. Also includes the diluted impact of 4,280,972 OP units outstanding.

 <br> HEALTHCARE REALTY TRUST INCORPORATED HEALTHCAREREALTY.COM \| PAGE 7 OF 8

------

---

| |
|:---|
| 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, and 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 rent reserves, 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 plus interest from financing receivables 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, financing receivable amortization, 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 through the application of additional resources, including an amount of capital expenditures significantly above routine maintenance and capital improvement expenditures.

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

 <br> HEALTHCARE REALTY TRUST INCORPORATED HEALTHCAREREALTY.COM \| PAGE 8 OF 8

## Exhibit 99.2

---

| |
|:---|
| 4Q2025 |
| Supplemental Information |
| FURNISHED AS OF FEBRUARY 12, 2026 - UNAUDITED |
| ![hrlogo-rgba.jpg](hrlogo-rgba.jpg) |

---

------

FORWARD LOOKING STATEMENTS & RISK FACTORS <br>

This Supplemental Information report contains disclosures that are "forward-looking statements." 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 such as "may," "will," "expect," "believe," "anticipate," "target," "intend," "plan," "estimate," "project," "continue," "should," "could," "budget" and other comparable terms. These forward-looking statements are based on the Company's current plans, objectives, estimates, expectations and intentions and inherently involve significant risks and uncertainties. Such risks and uncertainties include, among other things, the following: the Company's expected results may not be achieved; risks related to future opportunities and plans for the Company, including the uncertainty of expected future financial performance and results of the Company; pandemics or other health crises; 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; other legal and operational matters; and other risks and uncertainties affecting the Company, including those described from time to time under the caption "Risk Factors" and elsewhere in the Company's filings and reports with the SEC, including the Company's Annual Report on Form 10-K for the year ended December 31, 2024. Moreover, other risks and uncertainties of which the Company is not currently aware may also affect the Company's forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made, except as required by law. Stockholders and investors are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in the Company's filings and reports, including, without limitation, estimates and projections regarding the performance of development projects the Company is pursuing. For a detailed discussion of the Company's risk factors, please refer to the Company's filings with the SEC, including this report and the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

------

**Table of Contents**

---

| | |
|:---|:---|
| [4](#i2109158fbeeb4fa0a03097f123016ba3_13) | <u>[Highlights](#i2109158fbeeb4fa0a03097f123016ba3_13)</u> |
| [8](#i2109158fbeeb4fa0a03097f123016ba3_16) | <u>[Salient Facts](#i2109158fbeeb4fa0a03097f123016ba3_16)</u> |
| [9](#i2109158fbeeb4fa0a03097f123016ba3_19) | <u>[Corporate Information](#i2109158fbeeb4fa0a03097f123016ba3_19)</u> |
| [10](#i2109158fbeeb4fa0a03097f123016ba3_22) | <u>[Balance Sheet](#i2109158fbeeb4fa0a03097f123016ba3_22)</u> |
| [11](#i2109158fbeeb4fa0a03097f123016ba3_25) | <u>[Statements of Income](#i2109158fbeeb4fa0a03097f123016ba3_25)</u> |
| [12](#i2109158fbeeb4fa0a03097f123016ba3_28) | <u>[FFO, Normalized FFO, & FAD](#i2109158fbeeb4fa0a03097f123016ba3_28)</u> |
| [13](#i2109158fbeeb4fa0a03097f123016ba3_31) | <u>[Capital Funding & Commitments](#i2109158fbeeb4fa0a03097f123016ba3_31)</u> |
| [14](#i2109158fbeeb4fa0a03097f123016ba3_34) | <u>[Debt Metrics](#i2109158fbeeb4fa0a03097f123016ba3_34)</u> |
| [15](#i2109158fbeeb4fa0a03097f123016ba3_37) | <u>[Debt Covenants & Liquidity](#i2109158fbeeb4fa0a03097f123016ba3_37)</u> |
| [16](#i2109158fbeeb4fa0a03097f123016ba3_40) | <u>[Investment](#i2109158fbeeb4fa0a03097f123016ba3_40)[Activity](#i2109158fbeeb4fa0a03097f123016ba3_40)</u> |
| [17](#i2109158fbeeb4fa0a03097f123016ba3_43) | <u>[Joint Ventures](#i2109158fbeeb4fa0a03097f123016ba3_43)</u> |
| [1](#i2109158fbeeb4fa0a03097f123016ba3_46)[7](#i2109158fbeeb4fa0a03097f123016ba3_46) | <u>[Re/development Activity](#i2109158fbeeb4fa0a03097f123016ba3_46)</u> |
| [19](#i2109158fbeeb4fa0a03097f123016ba3_49) | <u>[Portfolio](#i2109158fbeeb4fa0a03097f123016ba3_49)</u> |
| [20](#i2109158fbeeb4fa0a03097f123016ba3_52) | <u>[Health Systems](#i2109158fbeeb4fa0a03097f123016ba3_52)</u> |
| [21](#i2109158fbeeb4fa0a03097f123016ba3_55) | <u>[MOB Proximity to Hospital](#i2109158fbeeb4fa0a03097f123016ba3_55)</u> |
| [22](#i2109158fbeeb4fa0a03097f123016ba3_58) | <u>[Lease Maturity & Occupancy](#i2109158fbeeb4fa0a03097f123016ba3_58)</u> |
| [23](#i2109158fbeeb4fa0a03097f123016ba3_61) | <u>[Leasing Statistics](#i2109158fbeeb4fa0a03097f123016ba3_61)</u> |
| [24](#i2109158fbeeb4fa0a03097f123016ba3_64) | <u>[Same Store](#i2109158fbeeb4fa0a03097f123016ba3_64)</u> |
| [26](#i2109158fbeeb4fa0a03097f123016ba3_67) | <u>[NOI Reconciliations](#i2109158fbeeb4fa0a03097f123016ba3_67)</u> |
| 27 | <u>[EBITDA Reconciliations](#i2109158fbeeb4fa0a03097f123016ba3_70)</u> |
| [29](#i2109158fbeeb4fa0a03097f123016ba3_73) | <u>[Components of Net Asset Value](#i2109158fbeeb4fa0a03097f123016ba3_73)</u> |
| [30](#i2109158fbeeb4fa0a03097f123016ba3_76) | <u>[2026 Guidance](#i2109158fbeeb4fa0a03097f123016ba3_76)</u> |

---

 <br> HEALTHCARE REALTY 4Q 2025 SUPPLEMENTAL INFORMATION 3

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

------

Highlights

HEALTHCARE REALTY REPORTS FOURTH QUARTER 2025 RESULTS

NASHVILLE, Tennessee, February 12, 2026 **-** Healthcare Realty Trust Incorporated (NYSE:HR) today announced results for the fourth quarter ended December 31, 2025 and introduced full year 2026 guidance.

"2025 represented a transformational year for Healthcare Realty," commented Peter Scott, the Company's President and Chief Executive Officer. "Our operational team delivered same-store growth that continues to exceed historical levels while our transactions team exceeded targets with $1.2 billion in dispositions at attractive pricing levels. We are encouraged by secular long-term trends driving demand for outpatient medical services, tenant space and assets across the country. We have strategically strengthened our corporate governance, leadership team and balance sheet over the past nine months, and I would like to thank the entire Healthcare Realty team for their strong efforts as we position the Company for sustainable long-term growth."

FOURTH QUARTER 2025 HIGHLIGHTS

• GAAP Net Income of $0.04 per share, NAREIT FFO of $0.36 per share, Normalized FFO of $0.40 per share, and FAD of $113.9 million (payout ratio of 75%)

• Same store cash NOI growth of +5.5% was driven by tenant retention of 82.7% with +3.7% cash leasing spreads

• Fourth quarter lease executions totaled 1.5 million square feet including 316,000 square feet of new lease executions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Sequential lease up of over 500 bps in redevelopment projects versus prior quarter

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Significant leasing momentum in early 2026 with nearly 1 million square feet of new and renewal leases executed year-to-date

• During the fourth quarter and through February, completed asset sales of $682 million, inclusive of one transaction expected to close later this month

• Net Debt to Adjusted EBITDA of 5.4x

• In December, Moody's Investors Service revised outlook to Stable and affirmed a Baa2 credit rating

FULL YEAR 2025 HIGHLIGHTS

• GAAP Net Loss of $0.71 per share, NAREIT FFO of $1.38 per share, Normalized FFO of $1.61 per share, and FAD of $448.3 million (payout ratio of 87%)

• Same store cash NOI growth of +4.8% was driven by 103 basis points in occupancy gain and tenant retention of 81.5% with +3.1% cash leasing spreads

• Full year lease executions totaled approximately 5.8 million square feet including 1.6 million square feet of new lease executions

• During 2025 and through February 2026, completed asset sales of $1.2 billion, inclusive of one transaction expected to close later this month, through 34 separate transactions at a blended cap rate of 6.7%

• Net Debt to Adjusted EBITDA was 5.4x at December 31, 2025, down from 6.1x at prior year end

• Repaid approximately $650 million of term loans and $250 million of senior notes. Extended $1.5 billion revolver to mature in July 2030 (inclusive of extension options) and added 1 to 2 years of additional extension options on outstanding term loans

• Reduced run-rate G&A expense by $10 million through cost saving implementations

• Appointed Peter Scott as President & Chief Executive Officer, Daniel Gabbay as Chief Financial Officer and supplemented leadership team with experienced industry executives

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 4 |

---

------

Highlights <br>

FOURTH QUARTER AND FULL YEAR 2025 RESULTS

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | THREE MONTHS ENDED | THREE MONTHS ENDED | THREE MONTHS ENDED | THREE MONTHS ENDED | YEAR ENDED | YEAR ENDED | YEAR ENDED | YEAR ENDED |
| | DECEMBER 31, 2025 | DECEMBER 31, 2025 | DECEMBER 31, 2024 | DECEMBER 31, 2024 | DECEMBER 31, 2025 | DECEMBER 31, 2025 | DECEMBER 31, 2024 | DECEMBER 31, 2024 |
| *(in thousands, except per share amounts)* | AMOUNT | PER SHARE | AMOUNT | PER SHARE | AMOUNT | PER SHARE | AMOUNT | PER SHARE |
| GAAP Net income (loss) | $14391 | $0.04 | $(106846) | $(0.31) | $(246071) | $(0.71) | $(654485) | $(1.81) |
| NAREIT FFO, diluted | $126981 | $0.36 | $105642 | $0.30 | $490048 | $1.38 | $193257 | $0.52 |
| Normalized FFO, diluted | $142147 | $0.40 | $143414 | $0.40 | $568946 | $1.61 | $576785 | $1.56 |

---

LEASING ACTIVITY

During the fourth quarter, the Company executed 292 new and renewal leases for 1.5 million square feet with a weighted average lease term of 6.2 years and average annual escalators of 3.0%.

Key leasing highlights:

• Memphis, TN. 166,000 square feet of renewals with our health system partner, Baptist Memorial Health, maintaining 100% occupancy across four on-campus medical office buildings

• Austin, TX. 92,100 square feet of renewals with Baylor Scott & White Health in two fully occupied on-campus assets

• Hartford, CT. 65,500 square feet of new leases with Hartford Health (A rated) expanding our existing relationship, which also resulted in a substantial credit upgrade from the former tenant, Prospect Health

• Charlotte, NC. 15,500 square foot new lease with a leading multi-specialty healthcare provider aligned with Novant Health

CAPITAL ALLOCATION

<u>Dispositions</u>

During the fourth quarter and through February, the Company successfully completed most of its previously identified dispositions for a total of $682 million, inclusive of one transaction expected to close later this month. A summary of the significant sale transactions is as follows:

• Portfolio Sale/Various Markets. Completed strategic market exits of the El Paso, TX; Des Moines, IA; Fort Wayne, IN; Cincinnati, OH; Salt Lake City, UT; Las Vegas, NV; and Kokomo, IN MSAs with the sale of a 25-property portfolio for $348.9 million to a single private purchaser, reducing exposure to non-priority markets and further refining the Company's core operating portfolio

• Phoenix, AZ. Disposed of two unaffiliated, off-campus properties to private market purchasers for $27.5 million. One asset was fully vacant at the time of the sale

• Atlanta, GA. Opportunistic sale of one fully stabilized asset to the affiliated health system at a premium valuation of $21.9 million

• Jacksonville, FL. Completed strategic market exit of the Jacksonville, FL MSA with the $18.6 million sale of two fully-leased MOBs at attractive market pricing

<u>Development and Redevelopment</u>

During the fourth quarter, the Company added five new redevelopments and made significant progress on its development and redevelopment pipeline, advancing several key projects across major markets. Highlights of new projects commenced include:

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 5 |

---

------

Highlights

• Houston, TX. Part of a two-MOB cluster in the growing Clear Lake submarket located between two major hospitals, HCA Houston Clear Lake and Houston Methodist Clear Lake. The $10.4 million redevelopment will transform the large user space layouts into modern, multi-tenant clinical suites

• Denver, CO. A two-MOB cluster located in a rapidly growing submarket between UC Highlands Ranch hospital and Advent Health Littleton hospital. The $10.2 million redevelopment project will modernize the properties and deliver an expected return on investment through lease up of 31,000 square feet at strong rental rates

<u>Balance Sheet</u>

• Debt paydown from asset sales reduced Net Debt to Adjusted EBITDA to 5.4x. At year-end, the Company has approximately $1.4 billion of liquidity on the line of credit and cash on hand

• In the fourth quarter, the Company fully repaid $542 million of term loans due in 2027

• In January 2026, the Company repurchased 2.9 million shares of its common stock at an average price of $17.27 per share for a total of $50 million

• In addition, on February 12, 2026, Healthcare Realty announced the establishment of its inaugural commercial paper program, with a total size of up to $600 million, further diversifying the Company's range of financing alternatives

DIVIDEND

The Board unanimously approved a common stock dividend in the amount of $0.24 per share to be paid on March 11, 2026, to Class A common stockholders of record on February 24, 2026. Additionally, the eligible holders of operating partnership units will receive a distribution of $0.24 per unit, equivalent to the Company's Class A common stock dividend.

GUIDANCE

The Company's 2026 per share estimated guidance ranges are as follows:

---

| | | | |
|:---|:---|:---|:---|
| | ACTUAL | 2026 GUIDANCE | 2026 GUIDANCE |
| | 2025 | LOW | HIGH |
| Earnings per share | $(0.71) | $(0.05) | $0.05 |
| NAREIT FFO per share | $1.38 | $1.44 | $1.50 |
| Normalized FFO per share | $1.61 | $1.58 | $1.64 |
| Same Store Cash NOI growth | 4.8% | 3.5% | 4.5% |

---

*The 2026 annual guidance range reflects the Company's view of current and future market conditions, including assumptions with respect to rental rates, occupancy levels, interest rates, and operating and general and administrative expenses. The Company's guidance does not contemplate impacts from gains or losses from dispositions, potential impairments, or debt extinguishment costs, if any. The Company's guidance also does not include any future acquisitions, developments or share issuances or repurchases, other than as discussed in the detailed guidance assumptions on page 30 of the 4Q 2025 Supplemental. There can be no assurance that the Company's actual results will not be materially higher or lower than these expectations. If actual results or timing vary from these assumptions, the Company's expectations may change. See page 30 of the 4Q 2025 Supplemental for additional details and assumptions.* 

EARNINGS CALL

On Friday, February 13, 2026, at 9:00 a.m. Eastern Time, Healthcare Realty Trust has scheduled a conference call to discuss earnings results, quarterly activities, general operations of the Company and industry trends.

Simultaneously, a webcast of the conference call will be available to interested parties at https://investors.healthcarerealty.com/corporate-profile/webcasts under the Investor Relations section. A webcast replay will be available following the call at the same address.

Live Conference Call Access Details:

• Domestic Dial-In Number: +1 800-715-9871 access code 4950066

• All Other Locations: +1 646-307-1963 access code 4950066

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 6 |

---

------

Highlights

Replay Information:

• Domestic Dial-In Number: +1 800-770-2030 access code 4950066

• All Other Locations: +1 609-800-9909 access code 4950066

ABOUT HEALTHCARE REALTY

Healthcare Realty Trust Incorporated (NYSE: HR) is the largest public, pure-play owner, operator and developer of medical outpatient buildings in the United States.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 7 |

---

------

Salient Facts <sup>1</sup> <br>

---

| | |
|:---|:---|
| Properties | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
|  | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
| 562 properties totaling 32.7M SF | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
| 50 markets in 27 states | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
| 65% of NOI in Top 15 Markets | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
|  | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
|  | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
|  | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
|  | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
| Capitalization | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
|  | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
| $10.1B enterprise value as of 12/31/25 | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
| $6.0B market capitalization as of 12/31/25 | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
| 355.9M shares/units outstanding as of 12/31/25 | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
| 354.9M diluted WA shares outstanding | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
| BBB/Baa2 S&P/Moody's | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
| 40.3% net debt to enterprise value at 12/31/25 | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
| 5.4x net debt to adjusted EBITDA | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
|  | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |
|  | ![salient-factsxq4x2025a.jpg](salient-factsxq4x2025a.jpg) |

---

![sdr_map-2025q4a.jpg](sdr_map-2025q4a.jpg)

1Includes properties held in joint ventures and excludes assets held for sale.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 8 |

---

------

Corporate Information

Healthcare Realty (NYSE: HR) is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development. As of December 31, 2025, the Company was invested in 562 real estate properties in 27 states totaling 32.7 million square feet and had an enterprise value of approximately $10.1 billion, defined as equity market capitalization plus the principal amount of debt less cash.

---

| |
|:---|
| EXECUTIVE OFFICERS |
| Peter A. Scott |
| President and Chief Executive Officer |
| Ryan E. Crowley |
| Executive Vice President and Chief Investment Officer |
| Daniel Gabbay |
| Executive Vice President and Chief Financial Officer |
| Robert E. Hull |
| Executive Vice President and Chief Operating Officer |
| Andrew E. Loope |
| Executive Vice President, General Counsel and Secretary |

---

---

| | |
|:---|:---|
| ANALYST COVERAGE | |
| BMO Capital Markets | J.P. Morgan Securities LLC |
| BTIG, LLC | Jefferies LLC |
| Cantor Fitzgerald & Co. | KeyBanc Capital Markets Inc. |
| Citi Research | RBC Capital Markets |
| Deutsche Bank Securities | Scotiabank |
| Green Street Advisors, Inc. | Wells Fargo Securities, LLC |

---

BOARD OF DIRECTORS <br>

Thomas N. Bohjalian&nbsp;&nbsp;&nbsp;&nbsp;

Chairman, Healthcare Realty Trust Incorporated

Retired Head of U.S Real Estate, Cohen & Steers

Peter A. Scott

President and Chief Executive Officer

Healthcare Realty Trust Incorporated

David B. Henry

Retired Vice Chairman and Chief Executive Officer

Kimco Realty Corporation

Jay P. Leupp

Managing Partner and Senior Portfolio Manager

Terra Firma Asset Management, LLC

Constance B. Moore

Retired President and Chief Executive Officer

BRE Properties, Inc.

Glenn J. Rufrano

Executive Chairman

PREIT

Donald C. Wood

Chief Executive Officer

Federal Realty Investment Trust

David R. Emery (1944-2019)

Chairman Emeritus

Healthcare Realty Trust Incorporated

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 9 |

---

------

---

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

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ASSETS |  |  |  |  |  |
|  | 4Q 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| Real estate properties |  |  |  |  |  |
| Land | $1060254 | $1066616 | $1105231 | $1134635 | $1143468 |
| Buildings and improvements | 8514165 | 8557270 | 9199089 | 9729912 | 9707066 |
| Lease intangibles | 455254 | 504309 | 567244 | 631864 | 664867 |
| Personal property | 7056 | 6854 | 6944 | 9938 | 9909 |
| Investment in financing receivables, net | 123249 | 123346 | 124134 | 123813 | 123671 |
| Financing lease right-of-use assets | 75083 | 75462 | 76574 | 76958 | 77343 |
| Construction in progress |  |  | 40421 | 35101 | 31978 |
| Land held for development | 57535 | 57203 | 49110 | 52408 | 52408 |
| Total real estate investments | 10292596 | 10391060 | 11168747 | 11794629 | 11810710 |
| Less accumulated depreciation and amortization | (2397795) | (2381297) | (2494169) | (2583819) | (2483656) |
| Total real estate investments, net | 7894801 | 8009763 | 8674578 | 9210810 | 9327054 |
| Cash and cash equivalents | 26172 | 43345 | 25507 | 25722 | 68916 |
| Assets held for sale, net | 143580 | 604747 | 358207 | 6635 | 12897 |
| Operating lease right-of-use assets | 204906 | 209291 | 243910 | 259764 | 261438 |
| Investments in unconsolidated joint ventures | 453607 | 458627 | 463430 | 470418 | 473122 |
| Other assets, net | 487795 | 533874 | 469940 | 522920 | 507496 |
| Total assets | $9210861 | $9859647 | $10235572 | $10496269 | $10650923 |
| LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS, AND STOCKHOLDERS' EQUITY | LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS, AND STOCKHOLDERS' EQUITY | LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS, AND STOCKHOLDERS' EQUITY | LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS, AND STOCKHOLDERS' EQUITY | LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS, AND STOCKHOLDERS' EQUITY | LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS, AND STOCKHOLDERS' EQUITY |
|  | 4Q 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| Liabilities |  |  |  |  |  |
| Notes and bonds payable | $3911423 | $4485706 | $4694391 | $4732618 | $4662771 |
| Accounts payable and accrued liabilities | 211071 | 173784 | 194076 | 144855 | 222510 |
| Liabilities of properties held for sale | 15160 | 69808 | 30278 | 422 | 1283 |
| Operating lease liabilities | 162922 | 166231 | 203678 | 224117 | 224499 |
| Financing lease liabilities | 73130 | 72654 | 73019 | 72585 | 72346 |
| Other liabilities | 160530 | 146618 | 158704 | 174830 | 161640 |
| Total liabilities | 4534236 | 5114801 | 5354146 | 5349427 | 5345049 |
| Redeemable non-controlling interests | 3252 | 4332 | 4332 | 4627 | 4778 |
| Stockholders' equity |  |  |  |  |  |
| Preferred stock, $0.01 par value; 200,000 shares authorized |  |  |  |  |  |
| Common stock, $0.01 par value; 1,000,000 shares authorized | 3516 | 3516 | 3516 | 3510 | 3505 |
| Additional paid-in capital | 9137257 | 9134486 | 9129338 | 9121269 | 9118229 |
| Accumulated other comprehensive (loss) income | (5174) | (6461) | (9185) | (7206) | (1168) |
| Cumulative net income attributable to common stockholders | 128238 | 113847 | 171585 | 329436 | 374309 |
| Cumulative dividends | (4646944) | (4562454) | (4477940) | (4368739) | (4260014) |
| Total stockholders' equity | 4616893 | 4682934 | 4817314 | 5078270 | 5234861 |
| Non-controlling interest | 56480 | 57580 | 59780 | 63945 | 66235 |
| Total equity | 4673373 | 4740514 | 4877094 | 5142215 | 5301096 |
| Total liabilities, redeemable non-controlling interests, and stockholders' equity | $9210861 | $9859647 | $10235572 | $10496269 | $10650923 |

---

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 10 |

---

------

---

| |
|:---|
| Statements of Income |
| AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | 4Q 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| Revenues |  |  |  |  |  |
| Rental income | $274731 | $287399 | $287070 | $288857 | $300065 |
| Interest income | 3614 | 3480 | 3449 | 3731 | 4076 |
| Other operating | 7958 | 6886 | 6983 | 6389 | 5625 |
|  | 286303 | 297765 | 297502 | 298977 | 309766 |
| Expenses |  |  |  |  |  |
| Property operating | 110732 | 113456 | 109924 | 114963 | 114415 |
| General and administrative | 13787 | 21771 | 23482 | 13530 | 34208 |
| &nbsp;&nbsp;*Normalizing items* <sup>1</sup> | *(3469)* | *(12046)* | *(10302)* | *(502)* | *(22991)* |
| Normalized general and administrative | 10318 | 9725 | 13180 | 13028 | 11217 |
| Transaction costs | 300 | 125 | 593 | 1011 | 1577 |
| Depreciation and amortization | 127408 | 137841 | 147749 | 150969 | 160330 |
|  | 252227 | 273193 | 281748 | 280473 | 310530 |
| Other income (expense) |  |  |  |  |  |
| Interest expense before merger-related fair value | (37337) | (41927) | (42766) | (44366) | (47951) |
| &nbsp;&nbsp;*Merger-related fair value adjustment* | *(10852)* | *(10715)* | *(10580)* | *(10446)* | *(10314)* |
| Interest expense | (48189) | (52642) | (53346) | (54812) | (58265) |
| Gain on sales of real estate properties and other assets | 135711 | 76771 | 20004 | 2904 | 32082 |
| Loss on extinguishment of debt | (165) | (286) |  |  | (237) |
| Impairment of real estate assets and credit loss reserves | (105806) | (104362) | (142348) | (12081) | (81098) |
| Equity (loss) income from unconsolidated joint ventures | (634) | 287 | 158 | 1 | 224 |
| Interest and other (expense) income, net | (402) | (2884) | (366) | 95 | (154) |
|  | (19485) | (83116) | (175898) | (63893) | (107448) |
| Net income (loss) | $14591 | $(58544) | $(160144) | $(45389) | $(108212) |
| Net (income) loss attributable to non-controlling interests | (200) | 806 | 2293 | 516 | 1366 |
| Net income (loss) attributable to common stockholders | $14391 | $(57738) | $(157851) | $(44873) | $(106846) |
| Basic earnings per common share | $0.04 | $(0.17) | $(0.45) | $(0.13) | $(0.31) |
| Diluted earnings per common share | $0.04 | $(0.17) | $(0.45) | $(0.13) | $(0.31) |
| Weighted average common shares outstanding - basic | 350052 | 349964 | 349628 | 349539 | 351560 |
| Weighted average common shares outstanding - diluted <sup>2</sup> | 350052 | 349964 | 349628 | 349539 | 351560 |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| STATEMENTS OF INCOME SUPPLEMENTAL INFORMATION |  |  |  |  |  |
|  | 4Q 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| Interest income |  |  |  |  |  |
| Financing receivables | $2023 | $2029 | $1956 | $1950 | $2103 |
| Interest on mortgage and mezzanine loans | 1591 | 1451 | 1493 | 1781 | 1973 |
| Total | $3614 | $3480 | $3449 | $3731 | $4076 |
| Other operating income |  |  |  |  |  |
| Parking income | $2193 | $2179 | $2369 | $1863 | $1958 |
| Management fee and miscellaneous income | 5765 | 4707 | 4614 | 4526 | 3667 |
| Total | $7958 | $6886 | $6983 | $6389 | $5625 |

---

1Normalizing items primarily include restructuring, severance-related costs and non-routine advisory fees associated with shareholder engagement.

2Potential common shares are not included in the computation of diluted earnings per share when a loss exists (or when dividends paid are greater than income), as the effect would be an antidilutive per share amount. As a result, the outstanding limited partnership units in the Company's operating partnership ("OP"), totaling 4,280,972 units were not included.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 11 |

---

------

---

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

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | 4Q 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| Net income (loss) attributable to common stockholders | $14391 | $(57738) | $(157851) | $(44873) | $(106846) |
| *Net income (loss) attributable to common stockholders per diluted share* <sup>3</sup> | *$0.04* | *$(0.17)* | *$(0.45)* | *$(0.13)* | *$(0.31)* |
| Gain on sales of real estate assets | (135711) | (76771) | (20004) | (2904) | (32082) |
| Impairments of real estate assets | 105706 | 104362 | 140877 | 10145 | 75423 |
| Real estate depreciation and amortization | 134736 | 143187 | 152936 | 155288 | 164656 |
| Non-controlling income (loss) from operating partnership units | 200 | (806) | (2293) | (599) | (1422) |
| Unconsolidated JV depreciation, amortization and impairment | 7659 | 6688 | 6706 | 6717 | 5913 |
| FFO adjustments | $112590 | $176660 | $278222 | $168647 | $212488 |
| *FFO adjustments per common share - diluted* | *$0.32* | *$0.50* | *$0.79* | *$0.48* | *$0.60* |
| NAREIT FFO | $126981 | $118922 | $120371 | $123774 | $105642 |
| *NAREIT FFO per common share - diluted* | *$0.36* | *$0.34* | *$0.34* | *$0.35* | *$0.30* |
| Transaction costs | 300 | 125 | 593 | 1011 | 1577 |
| Lease intangible amortization | (698) | (203) | (222) | (228) | (2348) |
| Non-routine tax and legal matters | (682) | 9 | 478 | 77 | 306 |
| Debt financing costs <sup>4</sup> | 1614 | 3493 |  |  | 237 |
| Restructuring and severance-related charges | 3469 | 12046 | 10302 | 502 | 22991 |
| Credit losses and (gains) losses on other assets, net | 100 |  | 1471 | 1936 | 4582 |
| Merger-related fair value adjustment | 10852 | 10715 | 10580 | 10446 | 10314 |
| Unconsolidated JV normalizing items <sup>5</sup> | 211 | 233 | 163 | 204 | 113 |
| Normalized FFO adjustments | $15166 | $26418 | $23365 | $13948 | $37772 |
| *Normalized FFO adjustments per common share - diluted* | *$0.04* | *$0.07* | *$0.07* | *$0.04* | *$0.11* |
| Normalized FFO  | $142147 | $145340 | $143736 | $137722 | $143414 |
| *Normalized FFO per common share - diluted* | *$0.40* | *$0.41* | *$0.41* | *$0.39* | *$0.40* |
| Non-real estate depreciation and amortization | 2522 | 1139 | 1184 | 1269 | 1385 |
| Non-cash interest amortization, net <sup>6</sup> | 1396 | 1384 | 1130 | 1217 | 1239 |
| Rent reserves, net | 582 | 146 | 130 | 94 | (369) |
| Straight-line amortization, net | (6554) | (6924) | (8022) | (7891) | (8032) |
| Stock-based compensation | 3308 | 3386 | 3887 | 3028 | 3028 |
| Unconsolidated JV non-cash items <sup>7</sup> | (348) | (463) | (356) | (253) | (277) |
| Normalized FFO adjusted for non-cash items | $143053 | $144008 | $141689 | $135186 | $140388 |
| &nbsp;&nbsp;&nbsp;2nd generation TI | (11120) | (9398) | (12036) | (14885) | (20003) |
| &nbsp;&nbsp;&nbsp;Leasing commissions paid | (7645) | (7438) | (5187) | (11394) | (11957) |
| &nbsp;&nbsp;&nbsp;Building capital | (10413) | (10319) | (9112) | (6687) | (8347) |
| Total maintenance capex | $(29178) | $(27155) | $(26335) | $(32966) | $(40307) |
| FAD | $113875 | $116853 | $115354 | $102220 | $100081 |
| **Quarterly dividends and OP distributions** | $85506 | $85536 | $110486 | $109840 | $110808 |
| **FFO wtd avg common shares outstanding - diluted** <sup>8</sup> | 354914 | 354690 | 354078 | 353522 | 355874 |

---

1Funds from operations ("FFO") and FFO per share are operating performance measures adopted by 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."

2FFO, Normalized FFO and Funds Available for Distribution ("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 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.

3Potential common shares are not included in the computation of diluted earnings per share when a loss exists (or when dividends paid are greater than income), as the effect would be an antidilutive per share amount.

4Includes loss on debt extinguishment, loss on derivatives, and legal fees related to the amended and restated credit facility.

5Includes the Company's proportionate share of normalizing items related to unconsolidated joint ventures such as lease intangibles and transaction costs.

6Includes the amortization of deferred financing costs, discounts and premiums, and non-cash financing receivable amortization.

7Includes the Company's proportionate share of straight-line rent, net and rent reserves, net related to unconsolidated joint ventures.

8The Company utilizes the treasury stock method, which includes the dilutive effect of nonvested share-based awards outstanding of 581,073 for the three months ended December 31, 2025. Also includes the diluted impact of 4,280,972 OP units outstanding.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 12 |

---

------

---

| |
|:---|
| Capital Funding & Commitments |
| DOLLARS IN THOUSANDS, EXCEPT PER SQUARE FOOT 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 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| Acquisitions <sup>1</sup> | $— | $— | $— | $— | $— |
| Re/development <sup>2</sup> | 29352 | 36031 | 42040 | 33436 | 39611 |
| 1st generation TI/LC/Capital & acquisition capex <sup>3</sup> | 34207 | 24480 | 33369 | 15139 | 14794 |
| 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 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| 2nd generation TI | $11120 | $9398 | $12036 | $14885 | $20003 |
| Leasing commissions paid | 7645 | 7438 | 5187 | 11394 | 11957 |
| Building capital | 10413 | 10319 | 9112 | 6687 | 8347 |
|  | $29178 | $27155 | $26335 | $32966 | $40307 |
| % of Cash NOI | % of Cash NOI | % of Cash NOI | % of Cash NOI | % of Cash NOI | % of Cash NOI |
| 2nd generation TI | 6.2% | 5.1% | 6.4% | 8.2% | 10.6% |
| Leasing commissions paid | 4.3% | 4.0% | 2.8% | 6.3% | 6.3% |
| Building capital | 5.8% | 5.6% | 4.9% | 3.7% | 4.4% |
|  | 16.3% | 14.7% | 14.1% | 18.2% | 21.3% |
| LEASING COMMITMENTS <sup>4</sup> | LEASING COMMITMENTS <sup>4</sup> | LEASING COMMITMENTS <sup>4</sup> | LEASING COMMITMENTS <sup>4</sup> | LEASING COMMITMENTS <sup>4</sup> | LEASING COMMITMENTS <sup>4</sup> |
|  | 4Q 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| Renewals |  |  |  |  |  |
| Square feet | 656712 | 682626 | 642797 | 794857 | 783975 |
| 2nd generation TI/square foot/lease year | $1.96 | $3.13 | $1.66 | $1.90 | $2.20 |
| Leasing commissions/square foot/lease year | $1.39 | $1.85 | $1.12 | $1.48 | $1.48 |
| Renewal commitments as a % of annual net rent | 14.2% | 16.8% | 12.2% | 13.8% | 14.1% |
| WALT (in months) <sup>5</sup> | 54.6 | 58.9 | 37.9 | 47.7 | 59.7 |
| New leases |  |  |  |  |  |
| Square feet | 137873 | 132079 | 195266 | 172371 | 299950 |
| 2nd generation TI/square foot/lease year | $7.54 | $6.94 | $7.12 | $6.08 | $7.30 |
| Leasing commissions/square foot/lease year | $2.05 | $1.90 | $2.03 | $1.90 | $1.82 |
| New lease commitments as a % of annual net rent | 48.2% | 42.0% | 44.6% | 40.4% | 40.7% |
| WALT (in months) <sup>5</sup> | 71.2 | 65.2 | 63.3 | 65.9 | 78.3 |
| All |  |  |  |  |  |
| Square feet | 794585 | 814705 | 838063 | 967228 | 1083925 |
| Leasing commitments as a % of annual net rent | 20.5% | 20.0% | 22.2% | 18.8% | 21.9% |
| WALT (in months) <sup>5</sup> | 57.5 | 60.0 | 43.8 | 51.0 | 64.8 |

---

1Acquisitions include properties acquired through joint ventures at the Company's ownership percentage.

2Re/development funding includes capital spend on re/developments, re/development completions and unstabilized properties.

3Acquisition capex includes near-term fundings underwritten as part of recent acquisitions. 1st generation tenant improvements and leasing commissions for re/developments are excluded.

4Reflects leases commencing in the quarter. Excludes recently acquired or disposed properties, re/development completions, construction in progress, land held for development, corporate property, redevelopment properties, unstabilized properties, planned dispositions and assets classified as held for sale.

5WALT = weighted average lease term.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 13 |

---

------

---

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

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2025 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2025 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2025 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2025 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2025 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2025 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2025 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2025 | SUMMARY OF INDEBTEDNESS AS OF DECEMBER 31, 2025 |  |
|  | PRINCIPAL BALANCE | BALANCE <sup>1</sup> | MATURITY DATE <sup>2</sup> | MONTHS TO MATURITY <sup>2</sup> | 4Q 2025 INTEREST EXPENSE | CONTRACTUAL INTEREST EXPENSE | CONTRACTUAL RATE | EFFECTIVE RATE | FAIR VALUE MERGER ADJUSTED |
| SENIOR NOTES | $600000 | $595026 | 8/1/2026 | 7 | $7338 | $5250 | 3.50% | 4.94% | Y |
| SENIOR NOTES | 500000 | 492693 | 7/1/2027 | 18 | 5855 | 4687 | 3.75% | 4.76% | Y |
| SENIOR NOTES | 300000 | 298652 | 1/15/2028 | 25 | 2789 | 2719 | 3.63% | 3.85% |  |
| SENIOR NOTES | 650000 | 597188 | 2/15/2030 | 50 | 7883 | 5038 | 3.10% | 5.30% | Y |
| SENIOR NOTES | 299500 | 297610 | 3/15/2030 | 51 | 1929 | 1797 | 2.40% | 2.72% |  |
| SENIOR NOTES | 299785 | 296866 | 3/15/2031 | 63 | 1594 | 1536 | 2.05% | 2.25% |  |
| SENIOR NOTES | 800000 | 685874 | 3/15/2031 | 63 | 8750 | 4000 | 2.00% | 5.13% | Y |
|  | $3449285 | $3263909 |  | 39 | $36138 | $25027 | 2.90% | 4.47% |  |
| TERM LOANS | $200000 | $199635 | 7/20/2029 | 42 | 2525 | 2525 | SOFR + 0.94% | 4.81% |  |
| TERM LOANS | 300000 | 299055 | 1/20/2029 | 36 | 3788 | 3788 | SOFR + 0.94% | 4.81% |  |
| TERM LOANS |  |  | 5/31/2027 <sup>3</sup> |  | 131 | 131 | SOFR + 1.04% | 4.91% |  |
| TERM LOANS |  |  | 6/1/2027 <sup>3</sup> |  | 1316 | 1316 | SOFR + 1.04% | 4.91% |  |
| TERM LOANS |  |  | 10/31/2027 <sup>3</sup> |  | 1650 | 1650 | SOFR + 1.04% | 4.91% |  |
|  | $500000 | $498690 |  | 38 | $9410 | $9410 |  | 4.81% |  |
| $1.5B CREDIT FACILITY | 120000 | 120000 | 7/25/2030 | 54 | $3385 | $3385 | SOFR + 0.84% | 4.61% |  |
| MORTGAGES | $28904 | $28824 | various | 7 | $382 | $393 | 3.94% | 4.50% |  |
|  | $4098189 | $3911423 |  | 39 | $49315 | $38215 | 3.19% | 4.52% | $2550000 |
| Less cash | (26172) | (26172) |  |  |  |  |  |  |  |
| Net debt | $4072017 | $3885251 |  |  |  |  |  |  |  |
| Interest rate swaps | Interest rate swaps | Interest rate swaps | Interest rate swaps | Interest rate swaps | (568) | (568) |  |  |  |
| Interest cost capitalization | Interest cost capitalization | Interest cost capitalization | Interest cost capitalization | Interest cost capitalization | (3532) |  |  |  |  |
| 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 | 2042 | 728 |  |  |  |
| 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 | 932 |  |  |  |  |
|  |  |  |  |  | $48189 | $38375 |  |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| DEBT MATURITIES SCHEDULE AS OF DECEMBER 31, 2025 <sup>2</sup>  | DEBT MATURITIES SCHEDULE AS OF DECEMBER 31, 2025 <sup>2</sup>  | DEBT MATURITIES SCHEDULE AS OF DECEMBER 31, 2025 <sup>2</sup>  | DEBT MATURITIES SCHEDULE AS OF DECEMBER 31, 2025 <sup>2</sup>  | DEBT MATURITIES SCHEDULE AS OF DECEMBER 31, 2025 <sup>2</sup>  | DEBT MATURITIES SCHEDULE AS OF DECEMBER 31, 2025 <sup>2</sup>  | DEBT MATURITIES SCHEDULE AS OF DECEMBER 31, 2025 <sup>2</sup>  |
|  | PRINCIPAL PAYMENTS | PRINCIPAL PAYMENTS | PRINCIPAL PAYMENTS | PRINCIPAL PAYMENTS |  |  |
|  | BANK <br>LOANS | SENIOR NOTES | MORTGAGE NOTES | TOTAL |  | WA RATE |
| 2026 | $0 | $600000 | $28904 | $628904 |  | 3.52% |
| 2027 |  | 500000 |  | 500000 |  | 3.75% |
| 2028 |  | 300000 |  | 300000 |  | 3.63% |
| 2029 | 500000 |  |  | 500000 |  | 4.81% |
| Thereafter | 120000 | 2049285 |  | 2169285 |  | 2.54% |
| Total | $620000 | $3449285 | $28904 | $4098189 |  | 3.19% |
| Net debt (principal) |  |  |  | $4072017 |  |  |
| Fixed rate debt balance  | $500000 | $3449285 | $28904 | $3978189 |  |  |
| % fixed rate debt, net of cash | % fixed rate debt, net of cash | % fixed rate debt, net of cash |  | 97.7% |  |  |
| Company share of JV net debt | Company share of JV net debt |  | $31751 |  |  |  |
|  |  |  |  |  | ` |  |

---

---

| | | |
|:---|:---|:---|
| INTEREST RATE SWAPS | INTEREST RATE SWAPS | INTEREST RATE SWAPS |
| MATURITY | AMOUNT | WA FIXED SOFR RATE |
| May 2026 | $100000 | 2.15% |
| December 2026 | 150000 | 3.84% |
| June 2027 | 150000 | 4.13% |
| December 2027 | 100000 | 4.13% |
| As of 12/31/2025 | $500000 | 3.65% |

---

1Balances are reflected net of discounts, fair value adjustments, and deferred financing costs and include premiums.

2Includes extension options.

3During the quarter, the Company paid off the remaining outstanding principal balance of term loans due in 2027 totaling $541.6 million.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 14 |

---

------

---

| |
|:---|
| Debt Covenants & Liquidity |
| DOLLARS IN THOUSANDS |

---

---

| | | | |
|:---|:---|:---|:---|
| SELECTED FINANCIAL DEBT COVENANTS YEAR ENDED DECEMBER 31, 2025 <sup>1</sup> | SELECTED FINANCIAL DEBT COVENANTS YEAR ENDED DECEMBER 31, 2025 <sup>1</sup> | SELECTED FINANCIAL DEBT COVENANTS YEAR ENDED DECEMBER 31, 2025 <sup>1</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% | 36.8% |
| Secured leverage ratio | Total secured debt/total capital | Not greater than 30% | 0.3% |
| Unencumbered leverage ratio | Unsecured debt/unsecured real estate | Not greater than 60% | 40.0% |
| Fixed charge coverage ratio | EBITDA/fixed charges | Not less than 1.50x | 3.4x |
| Unsecured coverage ratio | Unsecured EBITDA/unsecured interest | Not less than 1.75x | 3.3x |
| Asset investments | Unimproved land, JVs & mortgages/total assets | Not greater than 35% | 10.3% |
| Senior Notes |  |  |  |
| Incurrence of total debt | Total debt/total assets | Not greater than 60% | 35.8% |
| Incurrence of debt secured by any lien | Secured debt/total assets | Not greater than 40% | 0.3% |
| Maintenance of total unsecured assets | Unencumbered assets/unsecured debt | Not less than 150% | 267.9% |
| Debt service coverage | EBITDA/interest expense | Not less than 1.5x | 3.5x |
| Other |  |  |  |
| Net debt to adjusted EBITDA <sup>2</sup> | Net debt (debt less cash)/adjusted EBITDA | Not required | 5.4x |
| Net debt to enterprise value <sup>3</sup> | Net debt/enterprise value | Not required | 40.3% |

---

---

| | |
|:---|:---|
| LIQUIDITY SOURCES | LIQUIDITY SOURCES |
| Cash | $26172 |
| Unsecured credit facility availability | $1380000 |
| Consolidated unencumbered real estate assets (gross) <sup>4</sup> | $10383604 |

---

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

1Does 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.

2Net debt includes the Company's share of unconsolidated JV net debt. See page 28 for a reconciliation of adjusted EBITDA.

3Based on the closing price of $16.95 on December 31, 2025, and 355,878,607 shares outstanding including outstanding OP units.

4The annualized fourth quarter unencumbered asset NOI was $674.6 million.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 15 |

---

------

---

| |
|:---|
| Investment Activity |
| DOLLARS IN THOUSANDS |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| DISPOSITION ACTIVITY DETAIL |  |  |  |  |  |
| LOCATION | COUNT | CLOSING | SQUARE FEET | OCCUPIED % | SALE <br>PRICE |
| Dispositions |  |  |  |  |  |
| Boston, MA | 1 | 2/7/2025 | 30304 | 41% | $4500 |
| Denver, CO | 2 | 2/14/2025 | 69715 | 54% | 8600 |
| Houston, TX <sup>1</sup> | 1 | 3/20/2025 | 127933 | 35% | 15000 |
| 1Q 2025 total | 4 |  | 227952 | 42% | $28100 |
| Boston, MA |  | 4/30/2025 |  | —% | 486 |
| Boston, MA | 1 | 5/23/2025 | 33176 | 61% | 3000 |
| Jacksonville, FL | 1 | 6/26/2025 | 53169 | 12% | 8100 |
| Yakima, WA | 2 | 6/26/2025 | 91561 | 100% | 31000 |
| Houston, TX |  | 6/27/2025 |  | —% | 10500 |
| 2Q 2025 total | 4 |  | 177906 | 66% | $53086 |
| South Bend, IN | 1 | 7/15/2025 | 205573 | 77% | 43100 |
| Milwaukee, WI | 2 | 7/29/2025 | 147406 | 100% | 42000 |
| Naples, FL | 1 | 7/29/2025 | 61359 | 81% | 19250 |
| New York, NY | 1 | 7/30/2025 | 89893 | 88% | 25000 |
| Boston, MA | 1 | 8/25/2025 | 9010 | 66% | 450 |
| Lakeland, FL | 4 | 8/27/2025 | 31158 | 100% | 7325 |
| Salem, OR | 1 | 8/29/2025 | 21026 | 43% | 4000 |
| Milwaukee, WI | 1 | 9/29/2025 | 220747 | 74% | 60000 |
| Tampa, FL | 2 | 9/30/2025 | 47962 | 100% | 22000 |
| Dallas, TX | 4 | 9/30/2025 | 448879 | 62% | 58800 |
| Chicago, IL | 1 | 9/30/2025 | 56531 | 97% | 18700 |
| Columbus, OH | 3 | 9/30/2025 | 117060 | 100% | 33750 |
| Miami, FL | 1 | 9/30/2025 | 152976 | 95% | 62000 |
| 3Q 2025 total | 23 |  | 1609580 | 80% | $396375 |
| New Haven, CT | 0 | 10/16/2025 |  | —% | 725 |
| Des Moines, IA | 1 | 10/29/2025 | 152655 | 79% | 7225 |
| Jacksonville, FL | 2 | 11/17/2025 | 40333 | 100% | 18600 |
| Richmond, VA | 6 | 11/18/2025 | 405945 | 93% | 171000 |
| Boston, MA | 1 | 12/8/2025 | 10380 | —% | 278 |
| Atlanta, GA | 0 | 12/19/2025 |  | —% | 3000 |
| Multiple | 25 | 12/19/2025 | 1522500 | 83% | 348900 |
| Memphis, TN | 1 | 12/29/2025 | 116473 | 99% | 23021 |
| Phoenix, AZ | 1 | 12/29/2025 | 89980 | 92% | 22275 |
| Phoenix, AZ | 1 | 12/29/2025 | 89983 | —% | 5225 |
| Houston, TX <sup>2</sup> | 1 | 12/30/2025 | 49319 | 100% | 12500 |
| 4Q 2025 total | 39 |  | 2477568 | 83% | $612749 |
| Total 2025 disposition activity | 70 |  | 4493006 | 79% | $1090310 |
| Average cap rate <sup>3</sup> | Average cap rate <sup>3</sup> |  |  |  | 6.7% |
|  |  |  |  |  | . |
| Subsequent Disposition Activity |  |  |  |  |  |
| Atlanta, GA | 1 | 1/14/2026 | 60039 | 91% | 21900 |
| Chicago, IL | 1 | Est. Feb | 139200 | 95% | 47000 |

---

1The Company provided seller financing of approximately $5.4 million in connection with this sale.

2The Company provided seller financing of approximately $6.4 million in connection with this sale.

3Cap rate represents the in-place cash NOI divided by sales price. Cap rate includes subsequent disposition activity.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 16 |

---

------

---

| |
|:---|
| Joint Ventures <sup>1</sup> |
| DOLLARS IN THOUSANDS |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| PORTFOLIOS | PORTFOLIOS | PORTFOLIOS | PORTFOLIOS |  |  |  |  |
|  | WA OWNERSHIP INTEREST |  |  | 4Q 2025 | 4Q 2025 | 4Q 2025 | 4Q 2025 |
| JOINT VENTURE | WA OWNERSHIP INTEREST | # OF PROPERTIES | SQUARE FEET | OCCUPANCY | NOI | NOI AT SHARE | SAME STORE NOI AT SHARE |
| Nuveen | 41% | 26 | 1386043 | 87% | $7361 | $2775 | $2172 |
| CBRE | 20% | 4 | 283880 | 59% | 1162 | 233 | 183 |
| KKR | 20% | 23 | 1719557 | 97% | 13340 | 2668 |  |
| Other <sup>2</sup> | 58% | 10 | 723632 | 90% | 5241 | 2780 | 1886 |
| Total |  | 63 | 4113112 | 90% | $27104 | $8456 | $4241 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| BALANCE SHEET | BALANCE SHEET | BALANCE SHEET | BALANCE SHEET | BALANCE SHEET |
| JOINT VENTURE | REAL ESTATE INVESTMENT <sup>3</sup> | DEBT <sup>3</sup> | DEBT AT SHARE | INTEREST RATE |
| Nuveen | $571440 | $72711 | $14542 | 5.9% |
| CBRE | 134804 |  |  |  |
| KKR | 741811 |  |  |  |
| Other <sup>2</sup> | 343622 | 68117 | 27247 | 5.3% |
| Total | $1791677 | $140828 | $41789 | 5.6% |
| Net debt at JV share | Net debt at JV share |  | $31751 |  |

---

1Excludes completed dispositions and assets held for sale.

2Ownership percentages are weighted based on investment.

3Represents 100% of the real estate assets and debt of the joint ventures.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 17 |

---

------

---

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

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| DEVELOPMENTS | DEVELOPMENTS | DEVELOPMENTS | DEVELOPMENTS | DEVELOPMENTS | DEVELOPMENTS |
| MARKET | ASSOCIATED HEALTH SYSTEM | SQUARE<br>FEET | CURRENT LEASED % | BUDGET | COST TO COMPLETE |
| Raleigh, NC | UNC REX Health | 122991 | 51% | $58000 | $9526 |
| Fort Worth, TX <sup>1</sup> | Baylor Scott & White | 101279 | 72% | 48200 | 3840 |
| Total development | Total development | 224270 | 60% | $106200 | $13366 |
| *Projected stabilized yield - 7.0%-8.5%* | *Projected stabilized yield - 7.0%-8.5%* | *Projected stabilized yield - 7.0%-8.5%* | *Projected stabilized yield - 7.0%-8.5%* | *Projected stabilized yield - 7.0%-8.5%* |  |
| *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* |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| REDEVELOPMENTS | REDEVELOPMENTS | REDEVELOPMENTS | REDEVELOPMENTS | REDEVELOPMENTS | REDEVELOPMENTS | REDEVELOPMENTS |
| MARKET | COUNT | SQUARE<br>FEET | PROJECT SQUARE FEET | PROJECT LEASED % | BUDGET | COST TO COMPLETE |
| Charlotte, NC | 2 | 169135 | 101486 | 97% | $35050 | $4116 |
| Houston, TX | 2 | 314861 | 152172 | 35% | 30000 | 2735 |
| White Plains, NY | 1 | 65851 | 44634 | 85% | 24900 | 1366 |
| Charlotte, NC | 1 | 122388 | 83581 | 40% | 19200 | 19012 |
| Washington, DC | 1 | 57323 | 24034 | 82% | 15200 | 1015 |
| Seattle, WA | 1 | 78288 | 34916 | 29% | 13600 | 13542 |
| Raleigh, NC | 1 | 40400 | 40400 | 100% | 10800 | 5772 |
| Houston, TX | 1 | 40214 | 40214 | 42% | 10400 | 10400 |
| Denver, CO | 2 | 78691 | 51149 | 41% | 10200 | 10189 |
| Port St. Lucie, FL | 1 | 31466 | 31466 | 20% | 9400 | 8942 |
| Dallas, TX | 1 | 126121 | 22152 | 100% | 8600 | 8131 |
| Denver, CO | 1 | 55978 | 28832 | 53% | 7300 | 6625 |
| Other <sup>2</sup> | 8 | 849087 | 671263 | 53% | 96800 | 77549 |
| Total redevelopment | 23 | 2029803 | 1326299 | 55% | $291450 | $169394 |
| *Projected stabilized yield - 9.0%-12.0%* | *Projected stabilized yield - 9.0%-12.0%* | *Projected stabilized yield - 9.0%-12.0%* | *Projected stabilized yield - 9.0%-12.0%* | *Projected stabilized yield - 9.0%-12.0%* | *Projected stabilized yield - 9.0%-12.0%* |  |
| *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* | *Estimated stabilization period post completion - 12 - 36 months* |  |

---

---

| | | | |
|:---|:---|:---|:---|
| LAND HELD FOR DEVELOPMENT | LAND HELD FOR DEVELOPMENT | LAND HELD FOR DEVELOPMENT | LAND HELD FOR DEVELOPMENT |
| MARKET | COUNT | ACREAGE | INVESTMENT TO DATE |
| White Plains, NY | 1 | 3.1 | $3440 |
| Atlanta, GA | 1 | 2.5 | 2602 |
| Nashville, TN | 1 | 2.7 | 2018 |
| Round Rock, TX | 1 | 6.3 | 6681 |
| Nashville, TN | 1 | 0.4 | 4653 |
| Other | 14 | Various | 38141 |
| Total | 19 |  | $57535 |

---

1Development converted to an operating property to coincide with lease commencements in Q3 2025.

2Leased percentage does not include a 64,000 square foot lease executed in January 2026 on a redevelopment in Albany, NY.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 18 |

---

------

---

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

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| MARKETS | MARKETS | MARKETS | MARKETS | MARKETS | MARKETS | MARKETS | MARKETS | MARKETS | MARKETS |  |  |  |  |
|  |  | COUNT |  | SQUARE FEET | SQUARE FEET | SQUARE FEET | SQUARE FEET | SQUARE FEET | SQUARE FEET | SQUARE FEET | SQUARE FEET | WHOLLY OWNED | WHOLLY OWNED |
| MARKET | MSA RANK | COUNT |  | MOB |  | INPATIENT | OFFICE |  | WHOLLY OWNED | JOINT VENTURES | TOTAL | % OF NOI | CUMULATIVE % OF NOI |
| Dallas, TX | 4 | COUNT | 47 |  | 2527868 |  | 146519 | 199800 |  | 2874187 | 581096 | 3455283 | 9.9% |
| Seattle, WA | 15 | 29 |  | 1324047 |  |  |  |  | 1324047 | 257121 | 1581168 | 7.1% | 17.0% |
| Charlotte, NC | 21 | 31 |  | 1699765 |  |  |  |  | 1699765 |  | 1699765 | 5.6% | 22.6% |
| Houston, TX | 5 | 27 |  | 1747673 |  | 67500 |  |  | 1815173 | 249158 | 2064331 | 5.3% | 27.9% |
| Denver, CO | 19 | 29 |  | 1349450 |  |  |  |  | 1349450 | 306949 | 1656399 | 4.9% | 32.8% |
| Atlanta, GA | 6 | 25 |  | 1222606 |  |  |  |  | 1222606 | 96108 | 1318714 | 4.3% | 37.1% |
| Los Angeles, CA | 2 | 27 |  | 787715 |  | 63000 |  |  | 850715 | 786520 | 1637235 | 4.0% | 41.1% |
| Boston, MA | 11 | 13 |  | 718723 |  |  |  |  | 718723 |  | 718723 | 4.0% | 45.1% |
| Raleigh, NC | 41 | 27 |  | 978218 |  |  |  |  | 978218 | 198485 | 1176703 | 3.4% | 48.5% |
| Phoenix, AZ | 10 | 33 |  | 1251557 |  |  |  |  | 1251557 | 101086 | 1352643 | 3.3% | 51.8% |
| Nashville, TN | 35 | 12 |  | 1134891 |  |  |  |  | 1134891 | 106981 | 1241872 | 3.0% | 54.8% |
| Indianapolis, IN | 33 | 37 |  | 996511 |  | 61398 |  |  | 1057909 | 357915 | 1415824 | 2.9% | 57.7% |
| Tampa, FL | 17 | 17 |  | 830843 |  |  |  |  | 830843 |  | 830843 | 2.6% | 60.3% |
| Washington, DC | 7 | 9 |  | 692107 |  |  |  |  | 692107 |  | 692107 | 2.6% | 62.9% |
| Austin, TX | 25 | 12 |  | 657575 |  |  |  |  | 657575 | 129879 | 787454 | 2.5% | 65.4% |
| Miami, FL | 8 | 11 |  | 746463 |  |  |  |  | 746463 | 52178 | 798641 | 2.4% | 67.8% |
| San Francisco, CA | 13 | 9 |  | 449706 |  |  |  |  | 449706 | 110865 | 560571 | 2.3% | 70.1% |
| Orlando, FL | 20 | 7 |  | 359477 |  | 56998 |  |  | 416475 |  | 416475 | 2.1% | 72.2% |
| New York, NY | 1 | 14 |  | 557111 |  |  |  |  | 557111 | 57411 | 614522 | 2.1% | 74.3% |
| Hartford, CT | 50 | 25 |  | 554371 |  |  |  |  | 554371 |  | 554371 | 2.0% | 76.3% |
| Other (30 Markets) | Other (30 Markets) | 121 |  | 6066696 |  | 473636 | 895708 |  | 7436040 | 721360 | 8157400 | 23.7% | 100.0% |
| Total |  | 562 |  | 26653373 |  | 869051 | 1095508 |  | 28617932 | 4113112 | 32731044 | 100.0% |  |
| Number of properties | Number of properties |  |  | 481 |  | 14 | 4 |  | 499 | 63 | 562 |  |  |
| % of square feet |  |  |  | 93.2% |  | 3.0% | 3.8% |  | 100.0% |  |  |  |  |
| % multi-tenant |  |  |  | 87.1% |  | —% | 71.8% |  | 83.9% |  |  |  |  |
| Investment  |  |  |  | $9317607 |  | $406399 | $272967 |  | $9996973 |  |  |  |  |
| Quarterly cash NOI <sup>2</sup> | Quarterly cash NOI <sup>2</sup> |  |  | $146659 |  | $8418 | $4427 |  | $159504 |  |  |  |  |
| % of cash NOI |  |  |  | 91.9% |  | 5.3% | 2.8% |  | 100.0% |  |  |  |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| BY OWNERSHIP AND TENANT TYPE | BY OWNERSHIP AND TENANT TYPE | BY OWNERSHIP AND TENANT TYPE | BY OWNERSHIP AND TENANT TYPE | BY OWNERSHIP AND TENANT TYPE | BY OWNERSHIP AND TENANT TYPE |
|  | WHOLLY OWNED | WHOLLY OWNED | JOINT VENTURES  | JOINT VENTURES  |  |
|  | MULTI-TENANT | SINGLE-TENANT | MULTI-TENANT | SINGLE-TENANT | TOTAL |
| Number of properties | 397 | 102 | 47 | 16 | 562 |
| Square feet | 24010566 | 4607366 | 3383096 | 730016 | 32731044 |
| % of square feet | 73.4% | 14.1% | 10.3% | 2.2% | 100.0% |
| Investment <sup>2</sup> | $8012291 | $1984683 | $493232 | $115135 | $10605340 |
| Quarterly cash NOI <sup>2</sup> | $126915 | $32588 | $6375 | $2081 | $167960 |
| % of cash NOI | 75.6% | 19.4% | 3.8% | 1.2% | 100.0% |

---

1Gross investment and quarterly cash NOI are reflected in the Company's ownership percentage. Lease and building level related metrics such as building square feet and occupancy are reflected at 100% of the buildings.

2Excludes assets held for sale, land held for development, and corporate property.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 19 |

---

------

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 | LEASED BY HEALTH SYSTEM | % OF LEASED SF | # OF LEASES |  |  |  |  |
| **HCA** | 1 | BBB-/Baa2 | 2046423 | 769842 | 2816265 | # OF BLDGS | 41 | LEASED BY HEALTH SYSTEM | % OF LEASED SF | # OF LEASES | 9.6% | 720231 | 2.6% | 127 |
| Baylor Scott & White | 21 | AA-/Aa2 | 2146334 | 66376 | 2212710 | 25 | 6.8% | 1085258 | 4.0% | 154 |  |  |  |  |
| CommonSpirit | 4 | A-/A3 | 1442804 | 535300 | 1978104 | 37 | 6.7% | 806420 | 2.9% | 152 |  |  |  |  |
| Ascension Health | 3 | AA/Aa3 | 1601286 | 97551 | 1698837 | 17 | 4.4% | 739365 | 2.7% | 104 |  |  |  |  |
| Advocate Health | 14 | AA/Aa2 | 751636 | 240910 | 992546 | 17 | 3.8% | 869101 | 3.2% | 87 |  |  |  |  |
| Wellstar Health System | 75 | A+/A2 | 918394 |  | 918394 | 18 | 3.2% | 607220 | 2.2% | 82 |  |  |  |  |
| UW Medicine (Seattle) | 91 | AA+/Aa1 | 461363 | 169709 | 631072 | 10 | 3.0% | 294971 | 1.1% | 32 |  |  |  |  |
| Providence Health & Services | 5 | A/A3 | 602834 | 31601 | 634435 | 12 | 2.7% | 247064 | 0.9% | 45 |  |  |  |  |
| AdventHealth | 11 | AA/Aa2 | 640215 | 118585 | 758800 | 12 | 2.6% | 390729 | 1.4% | 97 |  |  |  |  |
| MultiCare Health System | 82 | A/-- | 492623 |  | 492623 | 8 | 2.5% | 233700 | 0.9% | 28 |  |  |  |  |
| Indiana University Health | 26 | AA/Aa2 | 416978 | 269320 | 686298 | 10 | 2.1% | 387649 | 1.4% | 51 |  |  |  |  |
| Tenet Healthcare Corporation | 6 | BB-/Ba3 | 545035 | 235399 | 780434 | 13 | 2.0% | 130632 | 0.5% | 21 |  |  |  |  |
| Tufts Medicine |  | BBB-/Aa3 | 252087 |  | 252087 | 2 | 1.9% | 260784 | 1.0% | 5 |  |  |  |  |
| Cedars-Sinai Health Systems | 51 | AA-/Aa3 | 199701 | 90607 | 290308 | 5 | 1.8% | 90515 | 0.3% | 20 |  |  |  |  |
| WakeMed | 185 | --/A2 | 374207 | 101597 | 475804 | 13 | 1.7% | 152831 | 0.6% | 23 |  |  |  |  |
| Banner Health | 24 | AA-/-- | 749075 | 31039 | 780114 | 24 | 1.6% | 118225 | 0.4% | 32 |  |  |  |  |
| Hawaii Pacific Health | 181 | --/A1 | 173502 | 124925 | 298427 | 3 | 1.6% | 104915 | 0.4% | 41 |  |  |  |  |
| Baptist Memorial Health Care | 89 | A-2/-- | 427649 | 150228 | 577877 | 8 | 1.6% | 383115 | 1.4% | 46 |  |  |  |  |
| Sutter Health | 12 | A+/A1 | 175591 | 96987 | 272578 | 4 | 1.4% | 110448 | 0.4% | 24 |  |  |  |  |
| Novant Health | 42 | A+/A1 | 473471 | 138035 | 611506 | 10 | 1.4% | 193957 | 0.7% | 26 |  |  |  |  |
| MemorialCare Health Systems | 133 | A+/-- | 353541 | 48759 | 402300 | 5 | 1.4% | 8877 | —% | 4 |  |  |  |  |
| Other (60 Credit Rated) |  |  | 6062259 | 2698466 | 8760725 | 174 | 28.4% | 4140953 | 15.1% |  |  |  |  |  |
| Subtotal - credit rated <sup>6</sup> |  |  | 21307008 | 6015236 | 27322244 | 468 | 92.2% | 12076960 | 44.1% |  |  |  |  |  |
| Other non-credit rated <sup>7</sup> |  |  | 609845 | 380385 | 990230 | 18 | 2.6% | 410712 | 1.5% |  |  |  |  |  |
| Off-campus non-affiliated <sup>8</sup> |  |  |  | 2227935 | 2227935 | 51 | 5.2% |  | —% |  |  |  |  |  |
| Total |  |  | 21916853 | 8623556 | 30540409 | 537 | 100.0% | 12487672 | 45.6% |  |  |  |  |  |
| Joint ventures |  |  | 2731325 | 1155711 | 3887036 |  |  |  |  |  |  |  |  |  |
| Wholly-owned |  |  | 19185528 | 7467845 | 26653373 |  |  |  |  |  |  |  |  |  |

---

1Gross investment and quarterly cash NOI are reflected in the Company's ownership percentage. Lease and building level related metrics such as building square feet and occupancy are reflected at 100% of the buildings.

2Excludes 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.

6Based on square footage, 42% is leased by an investment-grade rated healthcare provider.

7Includes 18 properties associated with hospital systems that are not credit rated.

8Includes off-campus buildings that are not 20% or more leased by a health system and are more than two miles from a hospital campus.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 20 |

---

------

MOB Proximity to Hospital <sup>1,2,3</sup><br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| MOB BY LOCATION |  |  |  |  |
|  | # OF PROPERTIES | SQUARE FEET | TOTAL | % GROUND LEASED |
| On campus | 206 | 15964097 | 52.3% | 69.9% |
| Adjacent to campus <sup>4</sup> | 137 | 5952756 | 19.5% | 14.1% |
| Total on/adjacent | 343 | 21916853 | 71.8% | 54.7% |
| Off campus - affiliated <sup>5</sup> | 143 | 6395621 | 20.9% | 15.0% |
| Off campus | 51 | 2227935 | 7.3% | 8.3% |
|  | 537 | 30540409 | 100.0% | 43.0% |
| Wholly-owned | 481 | 26653373 |  |  |
| Joint ventures | 56 | 3887036 |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| MOB BY CLUSTER <sup>6</sup> | MOB BY CLUSTER <sup>6</sup> | MOB BY CLUSTER <sup>6</sup> | MOB BY CLUSTER <sup>6</sup> | MOB BY CLUSTER <sup>6</sup> | MOB BY CLUSTER <sup>6</sup> | MOB BY CLUSTER <sup>6</sup> |
|  | TOTAL | TOTAL | TOTAL | HOSPITAL CENTRIC <sup>7</sup> | HOSPITAL CENTRIC <sup>7</sup> | HOSPITAL CENTRIC <sup>7</sup> |
|  | # OF PROPERTIES | SQUARE FEET | % OF SQUARE FEET | # OF PROPERTIES | SQUARE FEET | % OF SQUARE FEET |
| Clustered | 410 | 23001159 | 75.3% | 334 | 19954197 | 77.4% |
| Non-clustered | 127 | 7539250 | 24.7% | 86 | 5823814 | 22.6% |
| Total | 537 | 30540409 | 100.0% | 420 | 25778011 | 100.0% |

---

1Gross investment and quarterly cash NOI are reflected in the Company's ownership percentage. Lease and building level related metrics such as building square feet and occupancy are reflected at 100% of the buildings.

2Includes joint venture properties and excludes assets classified as held for sale.

3Proximity 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.

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.

6A 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.

7Includes buildings that are located within two miles of a hospital campus.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 21 |

---

------

Lease Maturity & Occupancy <sup>1,2</sup><br>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| LEASE MATURITY SCHEDULE | LEASE MATURITY SCHEDULE | LEASE MATURITY SCHEDULE |  |  |  |  |  |
|  | SQUARE FEET | SQUARE FEET | SQUARE FEET | SQUARE FEET | SQUARE FEET | SQUARE FEET | # OF WHOLLY-OWNED LEASES |
|  | WHOLLY-OWNED AND JOINT VENTURE | WHOLLY-OWNED AND JOINT VENTURE | WHOLLY-OWNED AND JOINT VENTURE | WHOLLY-OWNED AND JOINT VENTURE |  |  | # OF WHOLLY-OWNED LEASES |
|  | MULTI-TENANT <sup>3</sup> | SINGLE-TENANT | TOTAL | % OF TOTAL | JOINT VENTURES | WHOLLY-OWNED | # OF WHOLLY-OWNED LEASES |
| Month-to-month | 223247 | 59427 | 282674 | 1.0% | 44126 | 238548 | 85 |
| 1Q 2026 | 1081421 | 44806 | 1126227 | 3.8% | 41461 | 1084766 | 304 |
| 2Q 2026 | 860539 | 66250 | 926789 | 3.1% | 111354 | 815435 | 272 |
| 3Q 2026 | 805290 | 112329 | 917619 | 3.1% | 91014 | 826605 | 230 |
| 4Q 2026 | 914602 |  | 914602 | 3.1% | 33986 | 880616 | 256 |
| 2027 | 3742692 | 1098726 | 4841418 | 16.4% | 467584 | 4373834 | 950 |
| 2028 | 3158421 | 585199 | 3743620 | 12.6% | 287966 | 3455654 | 904 |
| 2029 | 2926257 | 715648 | 3641905 | 12.3% | 581886 | 3060019 | 683 |
| 2030 | 2702344 | 641922 | 3344266 | 11.3% | 329213 | 3015053 | 630 |
| 2031 | 1499137 | 369883 | 1869020 | 6.3% | 245981 | 1623039 | 324 |
| 2032 | 1934968 | 395932 | 2330900 | 7.9% | 361685 | 1969215 | 301 |
| 2033 | 890366 | 52813 | 943179 | 3.2% | 192162 | 751017 | 190 |
| 2034 | 1170299 | 142581 | 1312880 | 4.4% | 251688 | 1061192 | 190 |
| 2035 | 1231407 | 159725 | 1391132 | 4.7% | 116938 | 1274194 | 206 |
| Thereafter | 1178740 | 835365 | 2014105 | 6.8% | 530630 | 1483475 | 181 |
| Total occupied | 24319730 | 5280606 | 29600336 | 90.4% | 3687674 | 25912662 | 5706 |
| Total building | 27393662 | 5337382 | 32731044 |  | 4113112 | 28617932 |  |
| Occupancy | 88.8% | 98.9% | 90.4% |  | 89.7% | 90.5% |  |
| WALTR (months) <sup>4</sup> | 51.0 | 69.2 | 54.3 |  |  | 52.1 |  |
| WALT (months) <sup>4</sup> | 92.4 | 138.2 | 114.9 |  |  | 99.8 |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| QUARTERLY LEASING ACTIVITY <sup>5</sup> | QUARTERLY LEASING ACTIVITY <sup>5</sup> | QUARTERLY LEASING ACTIVITY <sup>5</sup> | QUARTERLY LEASING ACTIVITY <sup>5</sup> | QUARTERLY LEASING ACTIVITY <sup>5</sup> | QUARTERLY LEASING ACTIVITY <sup>5</sup> | QUARTERLY LEASING ACTIVITY <sup>5</sup> |
|  | MULTI-TENANT | MULTI-TENANT | SINGLE-TENANT | SINGLE-TENANT | TOTAL | TOTAL |
|  | ABSORPTION ACTIVITY | SQUARE FEET | ABSORPTION ACTIVITY | SQUARE FEET | ABSORPTION ACTIVITY | SQUARE FEET |
| Occupied square feet, beginning of period |  | 24644200 |  | 5377288 |  | 30021488 |
| Dispositions, assets held for sale and corp office |  | (499198) |  | (48556) |  | (547754) |
| Expirations and early vacates | (950454) |  | (87331) |  | (1037785) |  |
| Renewals, amendments, and extensions | 667521 |  | 39205 |  | 706726 |  |
| New lease commencements | 457661 |  |  |  | 457661 |  |
| Absorption |  | 174728 |  | (48126) |  | 126602 |
| Occupied square feet, end of period |  | 24319730 |  | 5280606 |  | 29600336 |

---

1Gross investment and quarterly cash NOI are reflected in the Company's ownership percentage. Lease and building level related metrics such as building square feet and occupancy are reflected at 100% of the buildings.

2Excludes land held for development, corporate property and assets classified as held for sale, unless noted otherwise.

3The average lease size in the wholly-owned multi-tenant portfolio is 3,906 square feet.

4WALTR = weighted average lease term remaining; WALT = weighted average lease term.

5Excludes month-to-month activity until such time that a term renewal is signed, or the tenant vacates.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 22 |

---

------

Leasing Statistics <sup>1,2</sup> <br>

---

| | | |
|:---|:---|:---|
| SAME STORE RENEWALS <sup>2</sup> | SAME STORE RENEWALS <sup>2</sup> | SAME STORE RENEWALS <sup>2</sup> |
|  | 4Q 2025 | 2025 |
| Cash leasing spreads | 3.7% | 3.1% |
| Cash leasing spreads distribution | Cash leasing spreads distribution |  |
| < 0% spread | 10.1% | 8.3% |
| 0-3% spread | 7.0% | 13.2% |
| 3-4% spread | 60.5% | 55.8% |
| > 4% spread | 22.4% | 22.7% |
| Total | 100.0% | 100.0% |
| Tenant retention rate | 82.7% | 81.5% |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| AVERAGE IN-PLACE CONTRACTUAL INCREASES <sup>3</sup> | AVERAGE IN-PLACE CONTRACTUAL INCREASES <sup>3</sup> | AVERAGE IN-PLACE CONTRACTUAL INCREASES <sup>3</sup> | AVERAGE IN-PLACE CONTRACTUAL INCREASES <sup>3</sup> | AVERAGE IN-PLACE CONTRACTUAL INCREASES <sup>3</sup> | AVERAGE IN-PLACE CONTRACTUAL INCREASES <sup>3</sup> | AVERAGE IN-PLACE CONTRACTUAL INCREASES <sup>3</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 <sup>2</sup> | 2.97% | 70.6% | 2.50% | 16.3% | 2.88% | 86.8% |
| Acquisitions | 2.81% | 6.2% | 2.74% | 1.7% | 2.80% | 7.9% |
| Other <sup>4</sup> | 2.86% | 5.0% | 3.00% | 0.3% | 2.86% | 5.3% |
| Total | 2.95% | 81.8% | 2.53% | 18.2% | 2.87% | 100.0% |
| Escalator type |  |  |  |  |  |  |
| Fixed | 2.96% | 98.1% | 2.57% | 87.6% | 2.90% | 96.1% |
| CPI | 2.50% | 1.9% | 2.22% | 12.4% | 2.33% | 3.9% |

---

---

| | | | |
|:---|:---|:---|:---|
| SAME STORE TYPE AND OWNERSHIP STRUCTURE <sup>2</sup> | SAME STORE TYPE AND OWNERSHIP STRUCTURE <sup>2</sup> | SAME STORE TYPE AND OWNERSHIP STRUCTURE <sup>2</sup> | SAME STORE TYPE AND OWNERSHIP STRUCTURE <sup>2</sup> |
|  | MULTI-TENANT | SINGLE-TENANT | TOTAL |
| Tenant type |  |  |  |
| Hospital | 48.4% | 54.7% | 49.4% |
| Physician and other | 51.6% | 45.3% | 50.6% |
| Lease structure |  |  |  |
| Gross | 8.6% | 1.4% | 7.3% |
| Modified gross | 32.9% | 9.3% | 28.7% |
| Net | 58.5% | 65.2% | 59.7% |
| Absolute net <sup>5</sup> | —% | 24.1% | 4.3% |
| Ownership type |  |  |  |
| Ground lease | 46.2% | 34.9% | 44.4% |
| Fee simple | 53.8% | 65.1% | 55.6% |

---

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

---

| | | | |
|:---|:---|:---|:---|
| # OF LEASES BY SIZE <sup>6</sup> | # OF LEASES BY SIZE <sup>6</sup> | # OF LEASES BY SIZE <sup>6</sup> |  |
| LEASED SQUARE FEET | # OF LEASES | WALT | WALTR |
| 0 - 2500 | 2980 | 73.4 | 38.8 |
| 2501 - 5000 | 1431 | 81.3 | 43.1 |
| 5001 - 7500 | 490 | 92.1 | 48.4 |
| 7501 - 10000 | 280 | 100.3 | 52.0 |
| 10,001 + | 525 | 117.5 | 60.9 |
| Total Leases | 5706 | 99.8 | 52.1 |

---

1Gross investment and quarterly cash NOI are reflected in the Company's ownership percentage. Lease and building level related metrics such as building square feet and occupancy are reflected at 100% of the buildings.

2Same store properties are properties that have been included in operations for the duration of the year-over-year comparison period presented. Accordingly, same store properties exclude properties that were recently acquired or disposed of, properties classified as held for sale or intended for sale, properties undergoing redevelopment, and newly redeveloped or developed properties.

3Excludes leases with lease terms of one year or less.

4Includes re/development properties, re/development completion, and joint ventures.

5Tenants are typically responsible for operating expenses and capital obligations.

6Excludes joint ventures, land held for development, corporate property and assets classified as held for sale.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 23 |

---

------

Same Store <sup>1,2</sup> <br> DOLLARS IN THOUSANDS

---

| | | |
|:---|:---|:---|
| TOTAL CASH NOI | TOTAL CASH NOI | TOTAL CASH NOI |
|  | % of Total NOI | 4Q 2025 |
| Multi-tenant | 68.1% | $121798 |
| Single-tenant | 17.9% | 31878 |
| Joint venture | 2.4% | 4241 |
| Same store | 88.5% | $157917 |
| Developments | 0.2% | 268 |
| Development completions | 0.5% | 839 |
| Redevelopment | 2.9% | 5153 |
| Redevelopment completions | 0.3% | 511 |
| Wholly-owned and joint venture acquisitions | 1.8% | 3271 |
| Completed dispositions & assets held for sale | 5.8% | 10500 |
| Total cash NOI | 100.0% | $178459 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| 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) |
|  | COUNT | SQUARE FEET | 4Q 2025 | 3Q 2025 | 4Q 2024 | SEQUENTIAL | Y-O-Y |
| Multi-tenant | 377 | 22032311 | 90.8% | 90.5% | 89.5% | 66 | 279 |
| Single-tenant | 96 | 4271051 | 99.9% | 99.9% | 100.0% |  | (6) |
| Joint venture | 28 | 1532190 | 90.1% | 90.2% | 89.2% | (1) | 14 |
| Same store | 501 | 27835552 | 92.1% | 91.9% | 91.1% | 65 | 287 |
| Wholly owned and joint venture acquisitions | 30 | 2192560 | 95.3% | 95.1% | 94.0% | 3 | 28 |
| Total stabilized portfolio | 531 | 30028112 | 92.4% | 92.1% | 91.3% | 68 | 316 |
| Developments | 2 | 224270 | 47.1% | 34.3% | 12.4% | 29 | 90 |
| Development completions | 2 | 107247 | 89.6% | 82.1% | 82.1% | 8 | 8 |
| Redevelopments <sup>3</sup> | 23 | 2029803 | 69.9% | 68.7% | 74.8% | 23 | (101) |
| Redevelopment completions | 4 | 341612 | 70.9% | 71.4% | 70.7% | (1) | 1 |
| Total portfolio including re/developments | 562 | 32731044 | 90.4% | 90.0% | 89.8% | 127 | 314 |
| Joint ventures | 63 | 4113112 | 89.7% | 89.5% | 87.3% | 8 | 98 |
| Total wholly-owned | 499 | 28617932 | 90.5% | 90.1% | 90.1% | 118 | 216 |
| Multi-tenant | 444 | 27393662 | 88.8% | 88.3% | 87.7% | 175 | 371 |

---

1Gross investment and quarterly cash NOI are reflected in the Company's ownership percentage. Lease and building level related metrics such as building square feet and occupancy are reflected at 100% of the buildings.

2Same store properties are properties that have been included in operations for the duration of the year-over-year comparison period presented. Accordingly, same store properties exclude properties that were recently acquired or disposed of, properties classified as held for sale or intended for sale, properties undergoing redevelopment, and newly redeveloped or developed properties.

3Includes the entire building under redevelopment.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 24 |

---

------

---

| |
|:---|
| Same Store <sup>1,2,3</sup> |
| DOLLARS IN THOUSANDS, EXCEPT PER SQUARE FOOT DATA |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| 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 |
|  | TOTAL | TOTAL | TOTAL | TOTAL | TOTAL | TOTAL | TOTAL |
|  | 4Q 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 | 2025 | 2024 |
| Base revenue | $186609 | $184806 | $182406 | $179492 | $178148 | $733313 | $704762 |
| Op. exp. recoveries | 58697 | 57556 | 54847 | 55683 | 55627 | 226783 | 216707 |
| Revenues | $245306 | $242362 | $237253 | $235175 | $233775 | $960096 | $921469 |
| Expenses | 87389 | 86433 | 82722 | 85005 | 84045 | 341549 | 331280 |
| Cash NOI | $157917 | $155929 | $154531 | $150170 | $149730 | $618547 | $590189 |
| Revenue per occ SF <sup>4</sup> | $38.31 | $37.99 | $37.34 | $37.08 | $36.92 | $37.67 | $36.61 |
| Margin | 64.4% | 64.3% | 65.1% | 63.9% | 64.0% | 64.4% | 64.0% |
| Period end occupancy | 92.1% | 91.9% | 91.5% | 91.2% | 91.1% | 92.1% | 91.1% |
| Number of properties | 501 | 501 | 501 | 501 | 501 | 501 | 501 |
| Year-Over-Year Change |  |  |  |  |  |  |  |
| Revenues | 4.9% |  |  |  |  | 4.2% |  |
| &nbsp;&nbsp;&nbsp;Base revenue | 4.7% |  |  |  |  | 4.1% |  |
| &nbsp;&nbsp;&nbsp;Exp recoveries | 5.5% |  |  |  |  | 4.6% |  |
| Expenses | 4.0% |  |  |  |  | 3.1% |  |
| Cash NOI | 5.5% |  |  |  |  | 4.8% |  |

---

1Gross investment and quarterly cash NOI are reflected in the Company's ownership percentage. Lease and building level related metrics such as building square feet and occupancy are reflected at 100% of the buildings.

2Same store properties are properties that have been included in operations for the duration of the year-over-year comparison period presented. Accordingly, same store properties exclude properties that were recently acquired or disposed of, properties classified as held for sale or intended for sale, properties undergoing redevelopment, and newly redeveloped or developed properties.

3Excludes recently acquired or disposed properties, re/development completions, construction in progress, land held for development, corporate property, re/development properties. and assets classified as held for sale.

4Revenue 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.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 25 |

---

------

---

| |
|:---|
| NOI Reconciliations <sup>1</sup> |
| DOLLARS IN THOUSANDS |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| BOTTOM UP RECONCILIATION |  |  |  |  |  |
|  | 4Q 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| Net income (loss) | $14591 | ($58544) | ($160144) | ($45389) | ($108212) |
| Other expense (income) | 19485 | 83116 | 175898 | 63893 | 107448 |
| General and administrative expense | 13787 | 21771 | 23482 | 13530 | 34208 |
| Depreciation and amortization expense | 127408 | 137841 | 147749 | 150969 | 160330 |
| Other expenses <sup>2</sup> | 9535 | 7290 | 7821 | 7564 | 7059 |
| Straight-line rent expense | 788 | 842 | 859 | 865 | 917 |
| Straight-line rent revenue | (4753) | (6741) | (7904) | (7709) | (9061) |
| Other revenue <sup>3</sup> | (10998) | (9542) | (9345) | (9907) | (11194) |
| Joint venture property cash NOI | 8616 | 8380 | 8225 | 8282 | 7280 |
| Cash NOI | $178459 | $184413 | $186641 | $182098 | $188775 |
| Developments | (268) | (84) | 74 | 64 | 69 |
| Development completions | (839) | (799) | (788) | (854) | (276) |
| Redevelopment | (5153) | (5878) | (6754) | (6552) | (6968) |
| Redevelopment completions | (511) | (380) | (389) | (106) | (278) |
| Wholly owned and joint venture acquisitions | (3271) | (3160) | (3072) | (3065) | (2441) |
| Completed dispositions & assets held for sale | (10500) | (18183) | (21181) | (21415) | (29151) |
| Same store cash NOI | $157917 | $155929 | $154531 | $150170 | $149730 |
| Same store joint venture properties | (4241) | (4093) | (4147) | (4141) | (4291) |
| Same store excluding JVs | $153676 | $151836 | $150384 | $146029 | $145439 |
| TOP DOWN RECONCILIATION |  |  |  |  |  |
|  | 4Q 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| Rental income before rent concessions | $278573 | $292965 | $292859 | $294543 | $305229 |
| Rent concessions | (3842) | (5566) | (5789) | (5686) | (5164) |
| Rental income | $274731 | $287399 | $287070 | $288857 | $300065 |
| Parking income | 2193 | 2179 | 2368 | 1863 | 1958 |
| Interest from financing receivable, net | 2023 | 2029 | 1956 | 1950 | 2103 |
| Exclude straight-line rent revenue | (4753) | (6741) | (7904) | (7709) | (9061) |
| Exclude other non-cash revenue <sup>4</sup> | (4140) | (3922) | (3593) | (4051) | (5697) |
| Cash revenue | $270054 | $280944 | $279897 | $280910 | $289368 |
| Property operating expense | (110732) | (113456) | (109924) | (114963) | (114415) |
| Exclude non-cash expenses <sup>5</sup> | 10521 | 8545 | 8443 | 7869 | 6542 |
| Joint venture property cash NOI | 8616 | 8380 | 8225 | 8282 | 7280 |
| Cash NOI | $178459 | $184413 | $186641 | $182098 | $188775 |
| Developments | (268) | (84) | 74 | 64 | 69 |
| Development completions | (839) | (799) | (788) | (854) | (276) |
| Redevelopment | (5153) | (5878) | (6754) | (6552) | (6968) |
| Redevelopment completions | (511) | (380) | (389) | (106) | (278) |
| Wholly owned and joint venture acquisitions | (3271) | (3160) | (3072) | (3065) | (2441) |
| Completed dispositions & assets held for sale | (10500) | (18183) | (21181) | (21415) | (29151) |
| Same store cash NOI | $157917 | $155929 | $154531 | $150170 | $149730 |
| Same store joint venture properties | (4241) | (4093) | (4147) | (4141) | (4291) |
| Same store excluding JVs | $153676 | $151836 | $150384 | $146029 | $145439 |

---

1Gross investment and quarterly cash NOI are reflected in the Company's ownership percentage. Lease and building level related metrics such as building square feet and occupancy are reflected at 100% of the buildings.

2Includes transaction costs, rent reserves, above and below market ground lease intangible amortization, leasing commission amortization, non-cash adjustments for financing receivables, and ground lease straight-line rent.

3Includes management fee income, interest, above and below market lease intangible amortization, lease inducement amortization, lease termination fees, deferred financing cost amortization and principal related to investment in financing receivable, and tenant improvement overage amortization.

4Includes above and below market intangibles, lease inducements, lease termination fees, deferred financing cost amortization, financing receivable, and TI amortization.

5Includes above and below market ground lease intangible amortization, leasing commission amortization, and ground lease straight-line rent.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 26 |

---

------

---

| |
|:---|
| NOI Reconciliations <sup>1</sup>  |
| DOLLARS IN THOUSANDS |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| RECONCILIATION OF NOI TO FFO AND NORMALIZED FFO | RECONCILIATION OF NOI TO FFO AND NORMALIZED FFO | RECONCILIATION OF NOI TO FFO AND NORMALIZED FFO | RECONCILIATION OF NOI TO FFO AND NORMALIZED FFO | RECONCILIATION OF NOI TO FFO AND NORMALIZED FFO | RECONCILIATION OF NOI TO FFO AND NORMALIZED FFO |
|  | 4Q 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| Cash NOI | $178459 | $184413 | $186641 | $182098 | $188775 |
| General and administrative expense | (13787) | (21771) | (23482) | (13530) | (34208) |
| Straight-line rent revenue | 4753 | 6741 | 7904 | 7709 | 9061 |
| Interest and other (expense) income, net | (402) | (2884) | (366) | 95 | (154) |
| Management fees and other income | 5765 | 4707 | 4614 | 4525 | 3667 |
| Note receivable interest income | 1591 | 1451 | 1492 | 1781 | 1973 |
| Other non-cash revenue <sup>2</sup> | 3642 | 3385 | 3239 | 3601 | 5554 |
| Other non-cash expenses <sup>3</sup> | (10358) | (8007) | (8087) | (7418) | (6400) |
| Non-real estate impairment |  |  | (1471) |  | (1600) |
| Restructuring and severance-related costs | 588 | 9010 | 7060 | 114 | 19288 |
| Income taxes | 300 | 372 | 297 | 310 | 657 |
| Unconsolidated JV adjustments | (894) | (1031) | (683) | (1155) | (720) |
| Debt Covenant EBITDA | $169657 | $176386 | $177158 | $178130 | $185893 |
| Interest expense | (48189) | (52642) | (53346) | (54812) | (58265) |
| Transaction costs | (300) | (125) | (593) | (1011) | (1577) |
| Leasing commission amortization <sup>4</sup> | 8418 | 6519 | 6404 | 5621 | 5744 |
| Non-real estate depreciation and amortization | (1091) | (1173) | (1217) | (1301) | (1418) |
| Loss on non-real estate assets |  |  |  | (1936) | (4075) |
| Non-controlling interest |  |  |  | (83) | (56) |
| Restructuring and severance-related costs | (588) | (9010) | (7060) | (114) | (19288) |
| Income taxes | (300) | (372) | (297) | (310) | (657) |
| Loss on extinguishment of debt | (165) | (286) |  |  | (237) |
| Unconsolidated JV adjustments | (461) | (375) | (678) | (410) | (422) |
| NAREIT FFO | $126981 | $118922 | $120371 | $123774 | $105642 |
| Transaction costs | 300 | 125 | 593 | 1011 | 1577 |
| Lease intangible amortization | (698) | (203) | (222) | (228) | (2348) |
| Non-routine tax and legal matters | (682) | 9 | 478 | 77 | 306 |
| Debt financing costs <sup>5</sup> | 1614 | 3493 |  |  | 237 |
| Restructuring and severance-related charges | 3469 | 12046 | 10302 | 502 | 22991 |
| Merger-related fair value adjustment | 10852 | 10715 | 10580 | 10446 | 10314 |
| Credit losses and (gains) losses on other assets, net | 100 |  | 1471 | 1936 | 4582 |
| Unconsolidated JV normalizing items | 211 | 233 | 163 | 204 | 113 |
| Normalized FFO | $142147 | $145340 | $143736 | $137722 | $143414 |

---

1Gross investment and quarterly cash NOI are reflected in the Company's ownership percentage. Lease and building level related metrics such as building square feet and occupancy are reflected at 100% of the buildings.

2Includes above and below market lease intangibles, interest income related to sales-type leases, lease inducements, lease termination fees, deferred financing cost amortization, and principal related to investment in financing receivable and TI amortization.

3Includes above and below market ground lease intangible amortization, leasing commission amortization, and ground lease straight-line rent.

4Leasing commission amortization is included in the real estate depreciation and amortization add-back for FFO.

5Includes loss on debt extinguishment, loss on derivatives, and legal fees related to the amended and restated credit facility.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 27 |

---

------

---

| |
|:---|
| EBITDA Reconciliations <sup>1</sup> |
| DOLLARS IN THOUSANDS |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| RECONCILIATION OF EBITDA |  |  |  |  |  |
|  | 4Q 2025 | 3Q 2025 | 2Q 2025 | 1Q 2025 | 4Q 2024 |
| Net income (loss) | $14591 | ($58544) | ($160144) | ($45389) | ($108212) |
| Interest expense | 48189 | 52642 | 53346 | 54812 | 58265 |
| Income taxes | 300 | 372 | 297 | 310 | 657 |
| Depreciation and amortization | 127408 | 137841 | 147749 | 150968 | 160330 |
| Unconsolidated JV depreciation, amortization, and interest | 8121 | 7063 | 7384 | 7128 | 6336 |
| EBITDA | $198609 | $139374 | $48632 | $167829 | $117376 |
| Transaction costs | 300 | 125 | 593 | 1011 | 1577 |
| Gain on sales of assets | (135711) | (76771) | (20004) | (2904) | (32082) |
| Impairments on real estate assets | 105706 | 104362 | 140877 | 12080 | 79497 |
| Restructuring and severance-related charges | 588 | 9010 | 7060 | 114 | 19288 |
| Loss on extinguishment of debt | 165 | 286 |  |  | 237 |
| Debt Covenant EBITDA | $169657 | $176386 | $177158 | $178130 | $185893 |
| Leasing commission amortization <sup>2</sup> | 8418 | 6520 | 6404 | 5621 | 5744 |
| Lease intangibles, franchise taxes and prepaid ground amortization | (31) | (111) | 578 | 520 | (3596) |
| Timing impact <sup>3</sup> | (2089) | 558 | 4129 | 4176 | (2125) |
| Stock based compensation | 3308 | 3386 | 3887 | 3028 | 3028 |
| Allowance for credit losses | 100 |  | 1471 |  | 1600 |
| Rent reserves, net | 582 | 146 | 130 | 94 | (369) |
| Debt financing costs <sup>4</sup> | 1449 | 3207 |  |  |  |
| Unconsolidated JV adjustments | 319 | 425 | 163 | 204 | 113 |
| Adjusted EBITDA | $181713 | $190517 | $193920 | $191773 | $190288 |
| Annualized Adjusted EBITDA | $726852 | $762068 | $775680 | $767092 | $761152 |
| RECONCILIATION OF NET DEBT |  |  |  |  |  |
| Debt | $3911423 | $4485706 | $4694391 | $4732618 | $4662771 |
| Share of unconsolidated net debt | 31751 | 30887 | 32437 | 29908 | 31455 |
| Cash | (26172) | (43345) | (25507) | (25722) | (68916) |
| Net debt | $3917002 | $4473248 | $4701321 | $4736804 | $4625310 |
| Net debt to adjusted EBITDA <sup>5</sup> | 5.4x | 5.9x | 6.1x | 6.2x | 6.1x |

---

1Gross investment and quarterly cash NOI are reflected in the Company's ownership percentage. Lease and building level related metrics such as building square feet and occupancy are reflected at 100% of the buildings.

2Leasing commission amortization is included in the real estate depreciation and amortization add-back for FFO.

3Timing adjustments to represent a full quarter impact of acquisitions and dispositions. Properties contributed into a joint venture are adjusted at the Company's share. Timing adjustments also include non-recurring impacts due to one-time items recognized in the quarter.

4Includes loss on derivatives and legal fees related to the amended and restated credit facility.

5Beginning in 2Q 2025, the Company began utilizing the carrying value of its debt in the calculation of net debt for purposes of reporting leverage metrics. Prior periods have been adjusted to align with this definition.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 28 |

---

------

---

| |
|:---|
| Components of Net Asset Value <sup>1</sup>  |
| DOLLARS IN THOUSANDS |

---

---

| | |
|:---|:---|
| CASH NOI | CASH NOI |
|  | 4Q 2025 |
| Same store <sup>2</sup> | $157917 |
| Acquisition & Re/development Completions | 4110 |
| Total | $162537 |
| Other adjustments <sup>3</sup> | 5179 |
| Total Cash NOI | $167716 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| DEVELOPMENT & REDEVELOPMENT PROPERTIES | DEVELOPMENT & REDEVELOPMENT PROPERTIES | DEVELOPMENT & REDEVELOPMENT PROPERTIES | DEVELOPMENT & REDEVELOPMENT PROPERTIES | DEVELOPMENT & REDEVELOPMENT PROPERTIES |
|  |  |  | PROJECTED STABILIZED ANNUAL CASH NOI <sup>4</sup> | PROJECTED STABILIZED ANNUAL CASH NOI <sup>4</sup> |
|  | COST TO COMPLETE | BUDGET | LOW | HIGH |
| Developments | $13366 | $106200 | $7000 | $8000 |
| Redevelopments <sup>5</sup> | 169394 | 291450 | 42000 | 44000 |
|  | $182760 | $397650 | $49000 | $52000 |

---

---

| | |
|:---|:---|
| LAND HELD FOR DEVELOPMENT, CASH, & OTHER ASSETS |  |
| Land held for development | $57535 |
| Disposition pipeline <sup>6</sup> | 187361 |
| Unstabilized properties <sup>7</sup> | 128621 |
| Cash and other assets <sup>8</sup> | 394414 |
|  | $767931 |
| DEBT |  |
| Unsecured credit facility | $120000 |
| Unsecured term loans | 500000 |
| Senior notes | 3449285 |
| Mortgage notes payable | 28904 |
| Company share of joint venture net debt | 31751 |
| Other liabilities <sup>9</sup> | 323413 |
|  | $4453353 |
| TOTAL SHARES OUTSTANDING |  |
| As of December 31, 2025 <sup>10</sup> | 355878607 |

---

1Gross investment and quarterly cash NOI are reflected in the Company's ownership percentage. Lease and building level related metrics such as building square feet and occupancy are reflected at 100% of the buildings.

2See Same Store schedule on pages 24-25 for details on Same Store NOI.

3Other adjustments include adjustments for management fee income of $5.6 million, offset by $0.5 million of positive NOI for unstabilized properties, which are shown in other assets.

4Represents total building projected stabilized NOI for properties in development and redevelopment at project stabilization.

5Estimated total cost includes only the incremental capital to complete the redevelopment.

6Includes 20 properties identified as assets held for sale that is excluded from Same Store Cash NOI and reflects net book value or sales price, if applicable.

7Includes 18 properties at their gross book value. These properties were comprised of 0.5 million square feet that generated positive NOI of $0.5 million.

8Includes cash of $26.2 million, notes receivable of $87.0 million, prepaid assets of $187.1 million, accounts receivable of $34.0 million, and prepaid ground leases of $11.8 million. In addition, it includes the Company's gross investment of its corporate headquarters in Nashville of $48.3 million.

9Includes 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 $215.6 million, security deposits of $31.5 million, financing right of use liabilities of $73.1 million, and deferred operating expense reimbursements of $3.2 million.

10Total shares outstanding include OP units.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 29 |

---

------

---

| |
|:---|
| 2026 Guidance |
| DOLLARS AND SHARES IN MILLIONS, EXCEPT PER SHARE DATA |

---

---

| | | |
|:---|:---|:---|
| 2026 EARNINGS GUIDANCE |  |  |
|  | LOW | HIGH |
| Earnings per share | $(0.05) | $0.05 |
| NAREIT FFO per share | $1.44 | $1.50 |
| Normalized FFO per share | $1.58 | $1.64 |
| Same store cash NOI growth | 3.5% | 4.5% |
| KEY ASSUMPTIONS |  |  |
|  | LOW | HIGH |
| Normalized general and administrative | $43 | $47 |
| Interest expense, net of capitalized interest <sup>1</sup> | $135 | $145 |
| Total maintenance capex | $105 | $125 |
| SOURCES AND USES <sup>2</sup> |  |  |
|  |  | MIDPOINT |
| Asset sales and loan receivable repayments <sup>3</sup> |  | $175 |
| Bond issuance <sup>4</sup> |  | 600 |
| FAD less dividends |  | 100 |
| Total Sources |  | $875 |
| Bond repayments |  | $600 |
| Investments and share repurchases <sup>5</sup> |  | 50 |
| Development, redevelopment, and 1st gen capital |  | 225 |
| Total Uses |  | $875 |
| Target adjusted net debt to EBITDA |  | mid-5x |
| Diluted shares outstanding <sup>6</sup> |  | 353 |

---

1Excludes the merger-related fair value adjustment and interest expense associated with unconsolidated joint ventures.

2Based on approximate midpoints.

3Includes the January and expected February 2026 dispositions and a $45 million loan at a 6.5% interest rate that is expected to be repaid at maturity in March 2026.

4Assumes mid-year issuance at an approximate 5% interest rate.

5Includes January 2026 share repurchases totaling $50 million.

6Includes the diluted impact of the OP units, estimated stock based compensation grants, and January 2026 share repurchases.

---

| | | |
|:---|:---|:---|
| HEALTHCARE REALTY | <u>[Return to **Table of Contents**](#i2109158fbeeb4fa0a03097f123016ba3_10)</u> | 4Q 2025 SUPPLEMENTAL INFORMATION 30 |

---

## Exhibit 99.3

**News Release** 

**HEALTHCARE REALTY TRUST ANNOUNCES $600 MILLION COMMERCIAL PAPER PROGRAM**

NASHVILLE, Tennessee, February 12, 2026 - Healthcare Realty Trust Incorporated (NYSE:HR) (the "Company") today announced the establishment of its inaugural commercial paper program. The program allows the Company's operating partnership, Healthcare Realty Holdings, L.P. (the "Issuer"), to issue up to $600 million of short-term, unsecured commercial paper notes. The notes will be sold under customary terms in the United States commercial paper note market and will rank pari passu with the Issuer's other senior unsecured indebtedness. The notes will be fully and unconditionally guaranteed by the Company. Note proceeds will be used for general corporate purposes.

The notes and guarantees to be offered under the commercial paper program have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes under the Issuer's commercial paper program.

**About Healthcare Realty**

Healthcare Realty Trust Incorporated (NYSE:HR) is the largest, pure-play owner, operator and developer of medical outpatient buildings in the United States. Additional information regarding the Company can be found at www.healthcarerealty.com.

**Investor Contact:**

Ron Hubbard

**Vice President, Investor Relations**

P: 615.269.8290

***Forward-Looking Statements***

*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. 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 2024 Annual Report on Form 10-K and in its other filings with the SEC.*

![hrlogo-rgb2.jpg](hrlogo-rgb2.jpg)