- MORE - Ventas Reports 2025 First Quarter Results April 30, 2025 Page 10 NON-GAAP FINANCIAL MEASURES RECONCILIATION Full Year 2025 Guidance as of April 30, 2025 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 2025 FY 2025 - Per Share Low High Low High Net income attributable to common stockholders $ 192 $ 245 $ 0.42 $ 0.53 Depreciation and amortization adjustments 1,311 1,311 $ 2.85 $ 2.85 Nareit FFO attributable to common stockholders $ 1,503 $ 1,556 $ 3.27 $ 3.38 Other adjustments 3 36 36 $ 0.08 $ 0.08 Normalized FFO attributable to common stockholders $ 1,540 $ 1,593 $ 3.35 $ 3.46 % Year-over-year growth 5 % 8 % Weighted average diluted shares (in millions) 460 460 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. Select Guidance Assumptions: • The Company’s guidance incorporates the following new assumptions: ◦ Senior housing investment volume increased to $1.5 billion, from $1 billion, with the incremental investments expected to be second half weighted ▪ Investments funded primarily with existing unsettled forward equity commitments and disposition proceeds ◦ Full year weighted average diluted share count increased from 456 million to 460 million • All other guidance assumptions remain the

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Text is the filed exhibit, verbatim.