Mr. Craig Mitchell reports

NORTHWEST HEALTHCARE PROPERTIES REAL ESTATE INVESTMENT TRUST ANNOUNCES CHANGES TO ITS BOARD OF TRUSTEES

Northwest Healthcare Properties Real Estate Investment Trust's Robert Baron is retiring from the board of trustees of the REIT, effective Jan. 29, 2024. Following Mr. Baron's retirement, the board has appointed Robert (Bobby) Julien and Graham Garner to the board, to fill the two vacancies on the board. Mr. Garner will also serve as a member of the REIT's strategic review, audit, and compensation, governance and nominating committees.

Dale Klein, non-executive chair of the REIT, stated: "We welcome the addition of Mr. Julien and Mr. Garner to serve as trustees as we continue to explore pathways to unlocking the significant value we believe is embedded in the REIT's portfolio.

"Mr. Baron has been a valuable member of the board, and we have appreciated his experience, thoughtful insights and impactful guidance as a trustee. On behalf of the board, I would like to thank Robert for his service and commitment to Northwest, and wish him all the best in the future."

Mr. Julien stated: "As a principal of one of Northwest's largest unitholders, I am pleased to join Northwest's board of trustees. I am looking forward to working collaboratively alongside my fellow trustees and utilizing my experience building successful real estate companies to help unlock value in Northwest's high-quality health care real estate platform."

Mr. Garner stated: "Northwest has an impressive, diversified health care portfolio with significant value creation opportunities in front of it. I look forward to supporting the REIT in executing on strategies to create value today and developing the longer-term vision for Northwest."

Mr. Julien is the chief executive officer of the Kolter Group LLC and is responsible for the firm's overall strategy, as well as for support of the portfolio company leaders in the development of their sector-specific strategies. He has directed the firm's growth, and has been involved with all facets of the acquisition, design, financing, development, sales and marketing, and disposition of Kolter-led transactions to date. Mr. Julien is also the manager of Kolter Capital NWH LLC, an affiliate of Kolter, which owns approximately 9.6 per cent of the REIT's issued and outstanding units.

Mr. Garner is an accomplished senior executive with over 25 years of experience in real estate, oil and gas, and consumer goods. His expertise spans a variety of areas, including international business, mergers and acquisitions, corporate restructuring, and equity and debt financings. Since 2020, he has been providing advisory services to family offices and private foundations through his firm, Garner Advisory Services. Prior to this, Mr. Garner was the chief financial officer of the Strategic Group, a privately owned real estate owner and asset manager based in Calgary, Alta. He has held senior leadership positions with several private and public companies, and practised law for six years at a national law firm. Mr. Garner holds a bachelor of commerce with honours from Queen's University, a bachelor of civil law and a bachelor of laws from McGill University, and a master of business administration from INSEAD.

Garner Advisory Services has been advising Kolter on its investment in the REIT.

The board changes help ensure that it has the appropriate skills, experience and diversity in viewpoints to, among other things, oversee the REIT's continuing strategic review.

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 comprised as at Sept. 30, 2023, of 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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