Ventas — Oct 30, 2024 release

- MORE - Ventas Reports 2024 Third Quarter Results October 30, 2024 Page 10 NON-GAAP FINANCIAL MEASURES RECONCILIATION Full Year 2024 Guidance as of October 30, 2024 1 Net Income and FFO Attributable to Common Stockholders 2 (In millions, except per share amounts; dollars in USD; totals may not sum due to rounding; unaudited) FY 2024 FY 2024 - Per Share Low High Low High Net income attributable to common stockholders $36 $53 $0.09 $0.13 Depreciation and amortization adjustments 1,280 1,280 3.07 3.07 Gain on real estate dispositions (50) (50) (0.12) (0.12) Nareit FFO attributable to common stockholders $1,266 $1,283 $3.04 $3.08 Other adjustments 3 43 43 0.10 0.10 Normalized FFO attributable to common stockholders $1,309 $1,326 $3.14 $3.18 % Year-over-year growth 5% 6% Weighted average diluted shares (in millions) 417 417 1 The Company’s guidance constitutes forward-looking statements within the meaning of the federal securities laws and is based on a number of assumptions that are subject to change and many of which are outside the control of the Company. Actual results may differ materially from the Company’s expectations depending on factors discussed herein and in the Company’s filings with the Securities and Exchange Commission. 2 Totals may not add due to minor corporate-level adjustments. 3 Other adjustments include the categories of adjustments presented in our “Non-GAAP Financial Measures Reconciliation – Funds From Operations Attributable to Common Stockholders (FFO)”. Select Guidance Assumptions: 1. Expect to close $1.7 billion of senior housing investments, with $1.4 billion closed year to date 2. Expect to dispose of assets for $330 million in net proceeds 3. FAD capital expenditures of ~$250 million 4. General and administrative expenses expected to range from $155 million to $160 million 5. Interest expense expected to range from $605 million to $609 million 6. The $9 million gain recognized in the third quarter arising from the Ardent IPO in July 2024 and the year to date impact