Healthpeak Q4 FFO as Adj $0.46/share; Same-store NOI +3.6%; new $236M lab JV

FOURTH QUARTER 2023 FINANCIAL PERFORMANCE AND RECENT HIGHLIGHTS – Net income of $0.13 per share, Nareit FFO of $0.48 per share, FFO as Adjusted of $0.46 per share, AFFO of $0.36 per share, and Total Same-Store Portfolio Cash (Adjusted) NOI growth of 3.6% – Fourth quarter new and renewal lease executions totaled 1.1 million square feet: ▪ Outpatient Medical new and renewal lease executions totaled 743,000 square feet ▪ Lab new and renewal lease executions totaled 312,000 square feet ▪ Year-to-date 2024 Lab lease executions of 58,000 square feet with an additional 115,000 square feet under signed LOI – Received entitlements for an additional 1.3 million square feet of lab development at the Vantage campus in South San Francisco – Commenced two on-campus outpatient developments in our HCA Healthcare ("HCA") development program – Entered into a new $236 million joint venture through the sale

int venture through the sale of a 65% interest in the Callan Ridge lab campus in the Torrey Pines submarket of San Diego in January 2024 – Net Debt to Adjusted EBITDAre was 5.2x for the quarter ended December 31, 2023 FULL-YEAR 2023 HIGHLIGHTS – Net income of $0.56 per share, Nareit FFO of $1.79 per share, FFO as Adjusted of $1.78 per share, AFFO of $1.53 per share, and Total Same-Store Portfolio Cash (Adjusted) NOI growth of 4.8% – Portfolio leasing summary: ▪ Full-year outpatient lease executions totaled 4.1 million square feet, with +4% cash releasing spreads on renewals ▪ Full-year lab lease executions totaled 985,000 square feet, with +23% cash releasing spreads on renewals – Development highlights: ▪ 2023 completions and new starts: ▪ Nexus on Grand: Delivered the fully leased, 148,000 square foot, $161 million lab building in South San Francisco ▪ Vantage: Delivered the fully leas