OHI
OMEGA HEALTHCARE
INVESTORS
INVESTOR
PRESENTATION
November 2024
Disclaimers; Forward-looking Statements and Non-GAAP Information
INVESTOR PRESENTATION 2
Table of Contents
Page
4 Company Profile & Strategy
10 Why Invest?
14 Skilled Nursing Facilities:
What Makes it an Attractive Asset Class?
23 Strong Portfolio of Skilled Operators
33Benefits of Investing in Long-term Care
38 Excellent Financials and Execution Track Record
45 Proven Investment Strategy for Future Growth
50 Liquidity Structure & Credit Profile
56 Commitment to ESG Principles
58 Sources & Appendix
INVESTOR PRESENTATION
3
1
Company
Profile &
Strategy
INVESTOR PRESENTATION
4
OMEGA SNAPSHOT
(NYSE:OHI)
1992
$10.6B
$14.6B
Year Listed
Total RE Investments
Enterprise Value
81
962
90,044
Operators
Properties (US & UK)
Number of Beds
BBB-
47%
6.6%
Investment Grade
5-Year TSR
Dividend Yield
For source information see page 59 onwards
INVESTOR PRESENTATION 5
Differentiators that Support Today's Strength and Tomorrow's Opportunity
1
Largest Skilled
Nursing Facilities
(SNF) focused REIT
2
Consistent dividend
growth
3
Diversified geographic
exposure and tenant base
4
Proven acquisition and
development capabilities
Long-term triple net
5
master leases provide
lower risk, steady income
Positioned to benefit
6
from macro tailwinds
Investment grade credit
7
with ample liquidity
Strong corporate
8
governance program
INVESTOR PRESENTATION
6
Experienced and Proven Management Team
Taylor Pickett
Dan Booth
Bob Stephenson
Chief Executive Officer
Chief Operating Officer
Chief Financial Officer
38 years in industry
39 years in industry
38 years in industry
23 years at OHI
23 years at OHI
23 years at OHI
Gail Makode
Neal Ballew
Matthew Gourmand
Chief Legal Officer
Chief Accounting Officer
SVP, Corporate Strategy
14 years in industry
26 years in industry
25 years in industry
5 years at OHI
4 years at OHI
7 years at OHI
Vikas Gupta
Megan Krull
SVP, Acquisitions
SVP, Operations
& Development
24 years in industry
21 years in industry
13 years at OHI
14 years at OHI
INVESTOR PRESENTATION
7
Strategy that Supports Long-Term Shareholder Value Creation
Growth Through
Accretive Investments
Maintain
Shareholder
Financial
Value Creation
Strength
Continued
Solid Dividend
Growth
Leverage Sound
Corporate Stewardship
Practices
INVESTOR PRESENTATION 8
Operator Updates
On June 3, 2024, Omega issued a press release in response to LaVie Care Centers' ("LaVie")
announcement that it had filed for Chapter 11 bankruptcy protection in the Northern District of Georgia.
Omega believes this filing is a necessary and important step in creating an entity that is operationally solvent and sustainable, with enhanced liquidity and a strengthened balance sheet.
During this filing, our focus, like LaVie's, is on maintaining quality of care for the residents of
these facilities, on supporting the employees that devote their careers to delivering this care, and on the key vendors that help provide operational services. As such, we have elected to commit $10 million to fund 50% of the expected debtor-in-possession financing, in order to support sufficient liquidity to effectively operate the facilities during bankruptcy.
We continue to believe that there is meaningful value in our portfolio of LaVie assets. Omega has been working with LaVie for over a year to reduce its exposure to underperforming assets, and we believe this has meaningfully enhanced the operating performance of our LaVie portfolio. We believe the current cash flow generated by our remaining LaVie portfolio is sustainable and will support long-term annualized rent of $36 million, while also retaining sufficient cash within the business to provide for strong clinical care.
As part of our debtor-in-possession loan commitment, during the period of bankruptcy protection, LaVie is required to pay Omega monthly rent of $3 million related to the 30 properties LaVie continues to lease from Omega, all subject to court approval.
The proposed DIP budget, which provides for LaVie rent, anticipates confirmation of the plan or sale of assets by the end of this year. However, this projection, along with all elements of the bankruptcy filing process, is subject to the approval of the bankruptcy court and other complexities inherent in Chapter 11 proceedings.
LaVie has paid full contractual monthly rent of approximately $3 million since June 2024.
Information provided as of October 31st, 2024
INVESTOR PRESENTATION 9
2
Why Invest?
INVESTOR PRESENTATION 10
Disclaimer
Omega Healthcare Investors Inc. published this content on November 06, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 06, 2024 at 16:28:02.102.