Ventas — Feb 5, 2026 release

- MORE - Ventas Reports 2025 Fourth Quarter and Full Year Results February 5, 2026 Page 11 NON-GAAP FINANCIAL MEASURES RECONCILIATION Full Year 2026 Guidance 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 2026 FY 2026 - Per Share Low High Low High Net income attributable to common stockholders $260 $310 $0.52 $0.62 Depreciation and amortization adjustments 1,566 1,566 $3.11 $3.11 Nareit FFO attributable to common stockholders $1,826 $1,876 $3.63 $3.73 Other adjustments 3,4 76 76 $0.15 $0.15 Normalized FFO attributable to common stockholders 4 $1,902 $1,952 $3.78 $3.88 % Year-over-year growth 4 6% 9% Weighted average diluted shares (in millions) 503 503 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 FFO and FAD Reconciliation. 4 Beginning with the first quarter 2026, the Company intends to add back non-cash stock-based compensation expense in its calculation of Normalized FFO. The Company's full year guidance for 2026 Normalized FFO per share gives effect to this change and the Normalized FFO per share year-over-year growth rate was calculated using a comparable methodology for both 2025 and 2026. This change in methodology in 2025 has, and in 2026 is expected to have, an impact on Normalized FFO per share of $0.08. Select Guidance Assumptions: • The Company’s guidance includes the following investment and disposition assump