Mr. Craig Mitchel reports

NORTHWEST HEALTHCARE PROPERTIES REAL ESTATE INVESTMENT TRUST ANNOUNCES EXTENSION OF ITS SERIES G CONVERTIBLE UNSECURED SUBORDINATED DEBENTURES

Northwest Healthcare Properties Real Estate Investment Trust holders of its Series G convertible unsecured subordinated debentures due Dec. 31, 2023, passed an extraordinary resolution approving certain amendments to the debentures previously announced at a meeting of debentureholders held today.

The adoption of the amendments was overwhelmingly supported by the debentureholders who voted by proxy or in person at the meeting, with the adoption being approved by approximately 89.24 per cent of the principal amount of the debentures voted (either in person at the meeting or by proxy).

Craig Mitchell, Northwest's chief executive officer, commented: "Management continues to take steps to renegotiate and extend its near-term debt maturities. In addition to several previously announced credit facility and term loan extensions that we have successfully completed in the past few weeks, debentureholders today voted to extend the maturity of the Series G debentures from December, 2023, to March, 2025."

"Northwest has eliminated all 2023 debt maturities, and over 60 per cent of its 2024 debt maturities, giving the REIT added financial flexibility. We would like to thank our debentureholders for their support, as we continue to work to take steps to strengthen our capital structure and set up the REIT for future growth."

It is anticipated that the effective date of the amendments will be Nov. 27, 2023. The seventh supplemental trust indenture entered into in respect of the amendments will be available on the REIT's SEDAR+ profile.

Debentureholders that delivered and did not withdraw a valid form of proxy or voting instruction form with respect to the amendments in accordance with the terms and conditions set forth in the management information circular of the REIT sent to debentureholders in connection with the meeting, will receive a cash consent fee, without interest, of $20 per $1,000 principal amount of debentures held by such debentureholders as of the record date, being Oct. 13, 2023, subject to satisfaction of certain other conditions required for the payment of the consent fee set out in the circular. The REIT will pay the consent fee to debentureholders, as applicable, on or about Dec, 31, 2023.

About Northwest Healthcare Properties Real Estate Investment Trust

Northwest Healthcare Properties is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT provides investors with access to a portfolio of high-quality international health care real estate infrastructure comprising as at Sept. 30, 2023, interests in a diversified portfolio of 229 income-producing properties and 18.2 million square feet of gross leasable area located throughout major markets in Canada, the United States, Brazil, Europe, Australia and New Zealand. The REIT's portfolio of medical office buildings, clinics and hospitals is characterized by long-term indexed leases and stable occupancies. With a fully integrated and aligned senior management team, the REIT leverages over 300 employees in 10 offices in eight countries to serve as a long-term real estate partner to leading health care operators.

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