– Continues to Align Portfolio with SHOP Strategy Through Strategic Divestitures –

LTC Properties, Inc. (NYSE: LTC) (“LTC” or the “Company”), a real estate investment trust specializing in seniors housing and health care properties, today announced nearly $160 million of acquisitions and the strategic divestitures of two non-SHOP portfolios, further expanding its SHOP platform and advancing the Company's ongoing portfolio transformation.

Highlights:

- Acquisitions: Added three SHOP communities through two acquisitions totaling nearly $160 million:

• One community in Florida for $69 million to be operated by Charter Senior Living.
• Two communities in Virginia and Maryland for $89 million, operated by IntegraCare, an operator new to LTC.
• Collectively, the acquisitions add 270 independent living, assisted living, and memory care units with an average age of 6 years and located in primary markets as designated by NIC. The investments are expected to generate an average year-one cap rate of approximately 6.5% and an anticipated unlevered IRR in the low- to mid-teens.

- Funding: Proceeds from the sale of two non-SHOP portfolios as part of LTC’s ongoing effort to further align its portfolio with its SHOP strategy. The divested assets included three triple-net skilled nursing centers, and 17 triple-net seniors housing communities. The sales generated over $260 million in gross proceeds, and an expected gain on sale of approximately $225 million. Total annualized rental income from these two portfolios was $12 million. Additionally, LTC now expects to receive the previously disclosed payoff of a $180 million mortgage loan secured by 14 skilled nursing centers in early to mid-November 2026.

- Portfolio Transformation and Ongoing Momentum: LTC has rapidly scaled its SHOP platform since its launch in May 2025.

• The SHOP platform has grown from 13 to 46 communities, which now contributes over 40% of the Company's annualized net operating income, while its triple-net skilled nursing portfolio has been reduced to approximately 30% of its annualized net operating income.
• The SHOP portfolio has an average age of 9 years and is managed by 13 operators, including 11 new relationships established through the platform's expansion.
• Year-to-date, LTC has completed approximately $740 million of SHOP acquisitions, representing over 80% of its 2026 mid-point acquisition target, and received gross proceeds of $550 million from sales and a loan payoff which represented $33 million in total annualized income and an anticipated combined gain on sale of over $330 million.

“Since launching SHOP, we have moved quickly to build scale, broaden our operator base, and expand our presence in markets with compelling long-term demand drivers,” said Dave Boitano, LTC’s Executive Vice President and Chief Investment Officer. “These acquisitions accelerate our momentum, while the sale of non-SHOP assets highlights our commitment to actively managing our portfolio and reallocating capital into opportunities with greater growth potential.”

About LTC

LTC is a real estate investment trust (REIT) focused on seniors housing and health care properties, principally investing through SHOP, as well as triple-net leases, and joint ventures. The Company’s portfolio includes over 160 properties throughout the United States. Based on gross real estate investments, nearly 80% of the Company’s assets are seniors housing communities with the remainder skilled nursing centers. Learn more at www.ltcreit.com.

Forward-Looking Statements

This press release contains forward-looking statements 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, adopted pursuant to the Private Securities Litigation Reform Act of 1995. Statements that are not purely historical may be forward-looking. You can identify some of the forward-looking statements by their use of forward-looking words, such as “believes,” “expects,” “may,” “will,” “could,” “would,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates” or “anticipates,” or the negative of those words or similar words. Examples of forward-looking statements include statements regarding the expected average year-one cap rate and anticipated unlevered internal rate of return on the acquired communities, the anticipated year-to-date combined gain on sale and gross proceeds from asset sales and loan payoffs, the expected gain on sale from the divested non-SHOP portfolios, the anticipated benefits of the acquisitions and divestitures, the Company’s ability to achieve its 2026 acquisition target, and the Company’s expectations regarding future growth, operating performance, and long-term demand drivers in its markets. Forward-looking statements involve inherent risks and uncertainties regarding events, conditions and financial trends that may affect the Company’s future plans of operation, business strategy, results of operations and financial position. A number of important factors could cause actual results to differ materially from those included within or contemplated by such forward-looking statements, including, but not limited to, operational and legal risks and liabilities under the Company’s new SHOP segment; the Company’s dependence on the ability of its third-party independent operators to successfully manage and operate the Company’s SHOP communities; the Company’s dependence on its operators for revenue and cash flow; government regulation of the health care industry; changes in federal, state, or local laws limiting REIT investments in the health care sector; federal and state health care cost containment measures including reductions in reimbursement from third-party payors such as Medicare and Medicaid; required regulatory approvals for operation of health care facilities; a failure to comply with applicable law or regulations for the operation of health care facilities; the adequacy of insurance coverage maintained by the Company’s operators; the Company’s reliance on a few major operators; the Company’s ability to find suitable replacement operators for its SHOP communities; the Company’s ability to renew leases or enter into favorable terms of renewals or new leases; the impact of inflation; operator financial or legal difficulties; the sufficiency of collateral securing mortgage loans; an impairment of the Company’s real estate investments; the relative illiquidity of the Company’s real estate investments; the Company’s ability to develop and complete construction projects; the Company’s ability to invest cash proceeds for health care properties; a failure to qualify as a REIT; the Company’s ability to grow if access to capital is limited; and a failure to maintain or increase the Company’s dividend. For a discussion of these and other factors that could cause actual results to differ from those contemplated in the forward-looking statements, please see the discussion under “Risk Factors” contained in the Company’s Annual Report on Form 10‑K for the fiscal year ended December 31, 2025, the Company’s subsequent Quarterly Reports on Form 10‑Q, and the Company’s publicly available filings with the Securities and Exchange Commission. The Company does not undertake any responsibility to update or revise any of these factors or to announce publicly any revisions to forward-looking statements, whether as a result of new information, future events or otherwise. Although the Company’s management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. The actual results achieved by the Company may differ materially from any forward-looking statements due to the risks and uncertainties of such statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261001340994/en/