Q2 2016 INVESTOR UPDATE

August 11, 2016

1

DISCLAIMER

This presentation provides a summary description of Northwest Healthcare Properties Real Estate Investment Trust (“NWH” or the “REIT”). This presentation should be read in conjunction with and is qualified in its entirety by reference to the REIT’s most recently filed financial statements, management’s discussion and analysis, management information circular (the “Circular”) and annual information form (the “AIF”). 

This presentation contains forward‐looking statements. These statements generally can be identified by the use of words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may”, “would”, “might”, “potential”, “should”, “stabilized”, “contracted”, “guidance”, “normalized”,  or “run rate” or variations of such words and phrases. Examples of such statements in this presentation may include statements concerning: (i) the REIT’s financial position and future performance, including, normalized financial results, in‐place and contracted run rates, payout ratios and other metrics; (ii) the REIT’s property portfolio, cash flow and growth prospects, (iii) liquidity, leverage ratios, future refinancings, fees earned by the asset manager to Vital Trust,  anticipated capital expenditures, future general and administrative expenses, including estimated synergies and contracted acquisition and development opportunities, and (iv) the REIT’s intention and ability to distribute available cash to security holders.

Such forward‐looking information reflects current beliefs of the REIT and is based on information currently available to the REIT. Other unknown or unpredictable factors could also have material adverse effects on future results, performance or achievements of the REIT. Forward‐looking information involves significant risks and uncertainties should not be read as a guarantee of future performance or results and will not necessarily be an accurate indication of whether or not, or the times at which, or by which, such performance or results will be achieved, and readers are cautioned not to place undue reliance on such forward‐looking statements. The forward‐looking statements contained in this presentation are based on numerous assumptions which may prove incorrect and which could cause actual results or events to differ materially from the forward‐looking statements. Although these forward‐looking statements are based upon what the REIT believes are reasonable assumptions, the REIT cannot assure investors that actual results will be consistent with this forward‐looking information. Such assumptions include, but are not limited to, the assumptions set forth in this presentation, as well as assumptions relating to (i) the REIT successfully realizing the operational and financial benefits described herein, including the realization of synergies, completion of anticipated acquisition and development opportunities, and generation of cash flow; and (ii) general economic and market factors, including exchange rates, local real estate conditions, interest rates and the availability of equity and debt financing to the REIT. These forward‐looking statements may be affected by risks and uncertainties in the business of the REIT and market conditions, including that the assumptions upon which the forward‐looking statements in this presentation may be incorrect in whole or in part, as well as risks related to increases or decreases in the prices of real estate; currency risk; project development, expansion targets and operational delays; marketability; additional funding requirements; governmental regulations, licenses and permits; environmental regulation and liability; competition; uninsured risks; contingent liabilities and guarantees, including the outcome of pending litigation; litigation; health and safety; trustees’ and officers’ conflicts of interest; the ability of the REIT to integrate the operations of NWI; the ability of the REIT to continue to develop and grow; and management of the REIT’s success in anticipating and managing the foregoing factors, as well as the risks described in the Circular and the AIF. The reader is cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward‐looking statements. Other risks and uncertainties not presently known to the REIT or that the REIT presently believes are not material could also cause actual results or events to differ materially from those expressed in its forward‐looking statements. Additional information on these and other factors that could affect the operations or financial results of the REIT are included in reports filed by the REIT with applicable securities regulatory authorities. 

These forward‐looking statements, which reflect the REIT’s expectations only as of the date of this presentation. The REIT disclaims any obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as required by law. 

Certain information concerning Vital Trust contained in this presentation has been taken from, or is based upon, publicly available documents and records on file with regulatory bodies. Although the REIT has no knowledge that would indicate that any of such information is untrue or incomplete, the REIT was not involved in the preparation of any such publicly available documents and neither the REIT, nor any of their officers or trustees, assumes any responsibility for the accuracy or completeness of such information or the failure by Vital Trust to disclose events which may have occurred or may affect the completeness or accuracy of such information but which are unknown to the REIT.

Funds from operations (“FFO”), adjusted funds from operations (“AFFO”), net operating income (“NOI”) and net asset value (“NAV”) are not measures recognized under International Financial Reporting Standards (“IFRS”) and do not have standardized meanings prescribed by IFRS. FFO, AFFO, NOI, and NAV are supplemental measures of a real estate investment trust’s performance and the REIT believes that FFO, AFFO, NOI, and NAV are relevant measures of its ability to earn and distribute cash returns to unitholders. The IFRS measurement most directly comparable to FFO, AFFO and NOI is net income. The IFRS measurement most directly comparable to NAV is net equity. A reconciliation of NOI, FFO and AFFO to net income is presented in the REIT’s management’s discussion and analysis of financial condition and results of operations of the REIT for the period ended June 30, 2016, as filed on SEDAR and a reconciliation of NAV is presented herein. 

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CORE HEALTHCARE INFRASTRUCTURE IN MAJOR MARKETS

NWH AT A GLANCE

ASSET MIXREGIONS

9.3M 139 $3.5BNSQUARE FEET (3)

T O R O N T O

S Ã O P A U L O

B E R L I N

A U C K L A N D

PROPERTIES (3) TOTAL ASSETS (3)

96.2% 11.1OCCUPANCY (3) YEAR WALE (3)

$910M 7.7%MARKET CAP (1) DISTRIBUTION YIELD (1)

ESTABLISHED RELATIONSHIPS WITH LEADING HEALTHCARE OPERATORS

7.3%

NOI DIVERSIFICATION (3)

IFRS CAP RATE (3)

87.0%PAYOUT RATIO (2)

S Y D N E Y

NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) is a specialist healthcare real estate investor that owns a high quality portfolio of medical office and hospital properties located throughout major markets in Canada, Brazil, Germany, Australia and New Zealand.

3

DASHBOARD

As Reported Run Rate

$0.88/unit

48.1% / 54.2%

$10.70/unit

~$0.95/unit

~$11.00/unit

AFFO/unit (4)

LTV (5)

NAV (6)

Adjustments relate to H2-16 contracted rent indexation and completion of announced acquisitions & planned financings during Q4-16

Deliver stable property operating performance, cash flow and distributions

Track to management run rate and guidance

Normalized

$0.92/unit

$10.73/unit

Reflects impact of the July 2016 $145M equity and convertible financing, GHC investment, Hospital Ifor acquisition and Q2-16 non-recurring items

PortfolioQuality

Occupancy / WALE (7)

48.1% / 54.2% ~50.0%

95.7%10.1 years

96.2%11.1 years

~96.0%~11.0 years

4

$0.92$572m

$2,700m

5x increase since inception(10) 15% increase since inception(10)

International Portfolio above 98% Long‐term Stability

At inception (3) FY2015

At inception(3) Q4‐2015At inception(3) Q4‐2015

At inception(3) Q4‐2015 Q2‐2016 Normalized

$3,500m

$0.80$0.82

95.9%90.7%

10.04.0

DASHBOARD

GROSS BOOK VALUE (8) NORMALIZED AFFO / UNIT (9)

WEIGHTED AVERAGE LEASE EXPIRYOCCUPANCY

Q2‐2016 Normalized

Q2‐2016 Normalized

Q2‐2016 Normalized

96.2% 11.1

5

TRANSFORMATIONAL GROWTH

Improved Market Profile

Defensive High Quality Portfolio

Positioned for Growth

Core Healthcare Focus

Major Global Markets

Asset & Capital Diversification

Improved Portfolio Metrics

Increase in Market cap.

Reduced Payout Ratio

Reduced Leverage

Increased NAV

Aligned & Integrated Global Platform

Leverage Institutional Relationships

Identified Expansions and Developments

Actionable Acquisition Pipeline

Strategic International Growth

Operational Strength

Scalable Platform

Defensive Healthcare Assets

Canadian Medical Office Building (MOB) Consolidation

$3,500

6

NAV has increased from $9.64 to $10.73, a ~11% increase

LTV has decreased from ~57% (Q3-15) to ~52% (Q2-16 Normalized)

FINANCIAL PROFILE CAPITLIZATION

PORTFOLIO QUALITY CAPITAL MARKETS AND LIQUIDITY

Portfolio Quality improved - occupancy up from ~94% to ~96% with longer lease terms from ~9 years to ~11 years.

AFFO / Unit has increased from $0.80 to $0.92, a 15.0% increase. Payout Ratio has reduced from ~100% to 87%.

POST MERGER -12 MONTHS IN REVIEW

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POST MERGER -$350M OF INTERNATIONAL ACQUISITIONS

July 2016

GHM closed on June 27, 2016 for A$58.5M

Under contract to acquire up to 19.9% of GHC REIT at A$2.20/unit for a total investment of $C92M (A$95.5M) during Q3 2016.

June to August 2016

Rede D'Or Investment (1) – Hospital Ifor in Sao Paulo for C$26M (R$65M) at a ~10.75% cap rate

Long-term quadruple net lease for 25 years and indexation to inflation

Continued Rede D'Or Investment (2) – Hospital Santa Helena in Brasilia for $117M at a ~9.50% cap rate

Long-term quadruple net lease for 25 years and indexation to inflation

September 2016

Germany Australia Brazil (1) Vital Trust Brazil (2) Total

Size (C$M) ~$20.0 ~$150.0 ~$25.0 ~$35.0 ~$120.0 ~$350.0

GLA (Square Feet) 0.1 1.1 0.1 - 0.4 ~1.7

Cap Rate ~7.0% ~7.6% ~10.75% ~7.2% ~9.5% ~8.4%

Occupancy ~97.3% ~98.6% 100.0% 99.4% 100.0% ~99.0%

WALE (yrs) ~4.0 ~12.4 ~25.0 ~18.1 ~25.0 ~15.6

Vital Rights Offering for NZ$160M – NorthWest to participate in its pro rata share of NZ$40M

Rights price at NZ$2.08, price before offering closing of NZ$2.22

July 2016

Acquisition of a Medical Office Building complex consisting of 2 buildings in Berlin for EUR$13.5M.

April 2016

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2016GOALS

• Provide Stable & Defensive Results‐ Inflation indexed triple-net rents ‐ Stable & improving occupancy‐ Focus on core healthcare tenancies‐ Improved financial profile

• Grow leading international platforms:‐ Australasia: Strategic growth ‐ Brazil: Focus on AAA assets ‐ Canada: Asset mgmt. + development‐ Germany: MOB consolidation

• Establish institutional capital relationships ‐ A “healthcare moment” ‐ Leverage leading mgmt. platform ‐ Drive incremental fee revenue

~80%Payout Ratio

$11.00NAV/Unit

~40%LTV

YTD 2016 RESULTS

2016 GOALS

TARGET

On Plan & Ahead of Schedule ‐ Inflation indexed triple-net rents ‐ Stable & improving occupancy‐ Focus on core healthcare tenancies

$350M of YTD Accretive Growth:‐ Australasia: GHC Investment, Vital

Trust capital raise ‐ Brazil: $140M acquisitions (Ifor &

Santa Helena) ‐ Canada: Development projects

substantially complete ‐ Germany: Mehrower Allee

acquisition

$225M of public financings ‐ $150M of equity issuance ‐ Increased institutional participation

$5.0BN Portfolio‐ Leading position in each core

market ‐ Increased focus on core

healthcare infrastructure

Achieve differentiated valuation ‐ Capital markets seasoning ‐ Improve market profile ‐ Healthcare real estate warrants

a premium valuation – US experience

Defensive financial profile ‐ Target ~80% AFFO payout‐ Target ~40% LTV

87%Payout Ratio

$10.73NAV/Unit

48.1%LTV

~85%Payout Ratio

$10.50NAV/Unit

~50%LTV

99

F I N A N C I A L O V E R V I E W

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FINANCIAL HIGHLIGHTS

POSITIVE FINANCIAL OPERATING RESULTS IN LINE WITH MANAGEMENT GUIDANCE

NORMALIZED RESULTS HAVE BEEN ADJUSTED TO REFLECT THE IMPACT OF RECENTLY COMPLETED TRANSACTIONS

NORMALIZATION ADJUSTMENTS

Normalization adjustments principally relate to:

‐ Acquisition of the Generation Healthcare Manager and corresponding ~20% investment in the REIT Units

‐ Acquisition of the Brazil Hospital Ifor, which closed in July 2016

‐ Redeployment of net proceeds from the July 2016 offering to complete the contracted acquisition of Santa Helena

‐ Refinancing of eligible Canadian properties to a lower weighted average interest rate of ~3.0% from ~5.0%

‐ Accrued rent to Q2 2016 based on contract rental indexation adjustments in Brazil

‐ Partial repayment of the FCC Acquisition facility

‐ Non-recurring items that will not have an on-going impact in future quarters

Q2-16 As Reported

Q2-16 Normalized

NOI $46.0M $48.2M

FFO $17.7M $20.7M

AFFO $17.3M $20.3M

W.A Units Outstanding

78,983 88,194

AFFO / Unit (4) $0.22/unit $0.23/unit

Payout Ratio 91.2% 87.0%

LTV (5) 48.1% / 54.2% 46.6% / 52.5%

NAV / Unit (6) $10.70/unit $10.73/unit

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REGIONAL DASHBOARD

C A N A D A B R A Z I L

A U S T R A L A S I A G E R M A N Y

LEADING MEDICAL OFFICE PLATFORM

CONSOLIDATION OF MEDICAL OFFICE BUIDLINGS

STRONG RELATIONSHIPS WITH LEADING OPERATORS

1.6%NOI Growth (11)

91.5%Occupancy

4.7YRWALE

LEADING PUBLICLY LISTED HEALTHCARE TRUST 2.5%NOI Growth (11)

95.1%Occupancy

4.9YRWALE

NOI Growth (11)

100%Occupancy

20.7YRWALE

3.8%NOI Growth (11)

99.4%Occupancy

18.1YRWALE

10.4%

12

SEGMENTED FINANCIAL INFORMATION

Canada Brazil Germany Australasia(12) Vital Mgr. GenerationMgr. (13) Corporate (14) Combined

NORMALIZED INCOME SUMMARY:

NOI $19.3 $8.3 $2.7 $15.7 - - - $46.0

FFO $13.4 $6.3 $1.6 $2.1 $1.9 - ($7.0) $17.7

AFFO $10.4 $6.9 $1.4 $2.1 $2.1 - ($5.2) $17.3

BALANCE SHEET SUMMARY:

Gross Assets $1,229.5 $438.5 $184.7 $902.5 $60.3 $64.7 $48.0 $2,914.7

Total Liabilities (15) $725.9 $140.8 $94.7 $758.2 - $5.8 $337.3 $2,062.6

Net Assets $503.5 $297.6 $90.0 $144.3 $60.3 $58.9 ($289.3) $865.4

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CAPITALIZATION

DEBT MATURITY PROFILE (16)Market

Capitalization$910M

Enterprise Value $2.2BN

Gross Book Value (17)

LTV (Excluding

Convertibles)48.1%

LTV (Including

Convertibles)54.2%

W.A. Interest Rate 4.70%

% Unsecured 13%

% Fixed 87%

REGIONAL DEBT STRATEGIES

Type Asset LevelTerm Debt

Bank Loans and Securitization

Asset Level Term Debt

Asset Level Revolving Debt

LTV (18) ~55.7% ~31.2% ~50.7% ~35.2%

Interest Rates (18) ~3.9% ~9.2% ~1.9% ~4.4%

Typical Amortization 25 years 10 years 50 years Interest Only

% of debt maturing 

4.9% 12.9% 23.3% 19.4% 25.9%13.6%

$3.5BN

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QUARTERLY NAV/UNIT IMPACT

International Growth‐ Canada: Strength in core GTA assets,

partially offset by weakness in Alberta

‐ Brazil: S&P credit rating upgrades for its major tenant Rede D’Or, on the back of US$2BN of private equity investment from the Carlyle Group/GIC and improved rental coverage ratios. NOI increases due to annual indexed leases based on three months of inflation at ~1.75%.

‐ Australasia: Completion of expansion projects during the fiscal year, annual inflation indexed rents and strong market reviews, continue to drive NOI growth. Demand for healthcare properties has increased and has led to a firming of 45 bps from 7.64% to 7.18% during H1 2016.

Positive currency environment‐ Strong currency gains reflecting

diversified capital exposure during the quarter ‐ Brazil Real (BRL) appreciated by

8.3%‐ New Zealand (NZD) appreciated by

2.6%‐ Euro (EUR) depreciated by 2.5%

millions Canada Brazil Germany Australasia Vital Mgr. Total

Value Attributable To:

NOI changes ($20.6M) $7.4M - $17.0M - $3.8M

Implied cap rate changes - - $8.8M $28.6M - $37.4M

Other (19) - ($0.5M) ($2.3M) - - ($2.8M)

Total ($20.6M) $6.9M $6.5M $45.6M - $38.4M

Per Unit ($0.25) $0.09 $0.08 $0.14 - $0.06

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RISK MANAGEMENT – FOREIGN EXCHANGE

RENTAL INDEXATION ACTS AS NATURAL CURRENCY HEDGE

LOCAL CURRENCY PROPERTY / CORPORATE DEBT TO REDUCE INVESTMENT RISK

OVER A 10 YEAR PERIOD, PORTFOLIO INDEX HAS REMAINED RELATIVELY IN-LINE WITH ITS BASE VALUE

Currency depreciation in Brazil has been positively

offset by annual rental indexation

+7.7%

+1.0%

CAGR

BRAZIL – SAME PROPERTY NOI GROWTH

Jun-16

105.7

88.2

97.2

89.6

1616

P O R T F O L I O OV E R V I E W

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BRAZIL

5 Hospitals /~900 Beds

2 Committed Acquisitions

S&P Rated Tenants

CANADA

61 Medical Office Buildings

1,200 tenants

2 Active Developments

VITAL PROPERTY TRUST

GERMANY

New Zealand Listed Entity

34 Properties

7 Contracted Developments

20 Medical Office Buildings

350 Tenants

2 Development Sites

PORTFOLIO OVERVIEW

$3.5BN International Platform Canada / Brazil / Germany / Australia & NZ

Berlin

São Paulo

Toronto

Melbourne

Auckland

GENERATION HEALTHCARE

Australian Listed Entity

17 Properties

3 Contracted Developments

Insert GHC logo

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Tenant Region % of Gross Rent

Rede D'Or SL 21.1%

Healthe Care 3.6%

Bantrel Corporation 2.9%

CLSC/CSSS 2.7%

Hospital Sabara 1.8%

Shoppers Drug Mart 1.5%

Epworth Foundation 1.5%

Lawton’s Drug Mart 1.4%

Winnipeg Regional Health 1.3%

Healthscope 1.3%

Top 10 Tenants 39.2%

PORTFOLIO DIVERSIFICATION

DIVERSIFIED PORTFOLIO IN STRATEGIC INTERNATIONAL MARKETS AND STABLE, CORE HEALTHCARE REAL ESTATE ASSET CLASSES

DIVERSIFIED TENANT BASE WITH STRATEGIC PARTNERSHIPS WITH LEADING HEALTHCARE OPERATORS IN LOCAL MARKETS

TOP 10 TENANTS BY GROSS RENT (21)

1

2

3

6

7

8

9

10

4

5

NOI DIVERSIFICATION BY GEOGRAPHY (20)

NOI DIVERSIFICATION BY ASSET MIX (20)

19

Assets MOB + Hospital Admins / Traditional Office

Size ~410k Square Feet

TenantsProvince of Ontario, Sick Kids Hospital, and other

medical tenancies

Cap Rate (23) ~6.0%

Occ. ~94%

Lease Term ~6 Years

Rental Increase Contract Rents

Acquisition Date Jan 2011

Assets 3 Hospitals

Size 446 Beds / ~573k Square Feet

TenantsHospital Operator Rede D’Or

S.L.S&P “A-” Rated

Cap Rate (23) ~9.2%

Occ. 100%

Lease Term ~25 Years

Rental Increase Annual Inflation Index

Acquisition Date Dec 2013

Assets 1 Hospital

Size 38 beds / expansion potential

Tenants Pulse (ASX Listed)

Cap Rate (23) ~6.9%

Occ. 100%

Lease Term ~22 Years

Rental Increase Annual Inflation Index

Acquisition Date July 2016

Assets 2 MOBs

Size ~82k Square Feet

Tenants ~53 Medical Practitioners & Related Services

Cap Rate (23) ~6.9%

Occ. ~97%

Lease Term ~4 Years

Rental Increase Annual Inflation Index

Acquisition Date April 2016

REPRESENTATIVE INVESTMENTS

Rede D’Or Hospital Portfolio

Mehrower Allee Boulcott Private Hospital

Dundas-Edward Centre

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The REIT currently has identified 17 non-core asset dispositions – Combined IFRS value of ~$100M; Outstanding mortgages of ~$70M– Estimated net proceeds of ~$30M after transaction costs

During the quarter the REIT made significant progress on its disposition program– Sold 1 assets in Q2-16 for ~$5M– 4 remaining assets under binding contracts closing in Q3-2016

NON-CORE ASSET DISPOSITIONS IN CANADA

THE REIT CONTINUES TO FOCUS ON BUILDING SCALABLE PORTFOLIOS IN GLOBAL GATEWAY CITIES

RENEWED EMPHASIS ON CAPITAL ALLOCATION AND GEOGRAPHIC DIVERSIFICATION

CANADAQ2-2016

CANADAProforma

SP NOI Growth 1.6% 2.0%

Occupancy 91.5% 92.9%

WALE 4.7 4.6

40bps

EXISTING PORTFOLIO (22) POST DISPOSITION PORTFOLIO (22)

140bps

21

$192.0M of committed low risk development & expansions – $84.4M Australian hospital expansions to be funded through existing resources – $55.4M Brazil hospital expansions to be funded through a combination of existing resources and property financing – $52.1M Canadian development to be funded through property level financing

$16.1M of stabilized net operating income– Potential to generate up to an incremental $0.04 of AFFO/Unit (23)

$18.2M of stabilized value accretion – Potential to generate up to an incremental $0.15 of NAV/Unit (23)

ACCRETIVE DEVELOPMENT & EXPANSIONS

WITH A TRACK RECORD OF COMPLETING MORE THAN $325M OF DEVELOPMENT AND EXPANSIONS, THE REIT IS LEVERAGING ITS EXPERIENCE TO DELIVER AN ADDITIONAL $192M OF INCOME AND VALUE ENHANCING PROJECTS TO ITS PORTFOLIO

Country (24) Projects Est. Completion

Project Cost

Cost to Complete

Pre-LeasedOccupancy

Project Yield

ProjectNOI

Potential Value

Accretion

7 Q2 2016 to Q4 2017 84.4 72.4 100.0% 8.5% 6.7 6.1

2 Q4 2017 / Q4 2018 55.4 55.4 100.0% 10.5% 5.8 8.1

2 Q4 2016 52.1 6.4 77.1% 7.0% 3.6 4.0

11 192.0 134.2 16.1 18.2

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Acquired in early 2015

Project cost ~$26.7M

Stabilized Yield 6.5%

Acquired in early 2015

Project cost ~$25.4M

Stabilized Yield 6.5%

Ground-up development of a new ~80,000 SFmedical office building to house the Barrie Family Health Team.

Barrie Medical CentreBarrie, ON

Toronto West Health CentreEtobicoke, ON

Existing redevelopment of a medical building complex, consisting of two buildings of ~80,000 SF. Redevelopmentwill be home to the Etobicoke Family Health Team.

DEVELOPMENT PROJECTS – CANADA

Family Health Team Opened May 10, 2016 Completion Date Fall 2016

Pre-Leased: ~60% Pre-Leased: ~90%

2323

S T R A T E G Y & O U T L O O K

24

2.0% 1.7% 1.5%

4.9% 3.7% 4.2%

3.3% 3.8% 3.0%

(4.0%)

(2.0%)

--

2.0%

4.0%

6.0%

2007 2008 2009 2010 2011 2012 2013 2014 2015E

Big 3 HC REITs Major Sectors

THE U.S. EXPERIENCE

$1 Trillion Estimated U.S. Healthcare Real Estate Market Exceeds $1 Trillion

$100 Billion &< 15%

Largest Healthcare REITs Acquired More Than $100 Billion over Last 10 Years, But Still Owns Less than 15% of the Market

Return & Stability Large U.S Healthcare REITs Historically Generated Better Returns with Less Volatility

HISTORICAL NOI GROWTH OF “BIG 3 HEALTHCARE REITS (1)

Source: Green Street Advisors (November 2015)

HEALTHCARE REAL ESTATE OPPORTUNITIES

25

RELATIVE VALUATION

THE REIT IS TRADING AT A SIGNIFICANT DISCOUNT TO ITS PEERS ON BOTH AN AFFO MULTIPLE AND NET ASSET VALUE BASIS

AFFO MULTIPLE

$14.63 •

$18.86•

11.2x

15.9x

12.0x

20.5x

0

20x

15x

10x

$10.56 •

$13,46 •(3.4%)

0

5%

NWH.UN Canadian REITS(EV > $1BN)

Internationally Focused Canadian

REITSUS Healthcare REITS (Top 5)

• Implied Share Price

$10.34

$10.34

- Based on NWH.UN’s closing unit price of $10.34/unit as of August 9, 2016 and normalized AFFO/Unit of $0.92 per year ($0.23/unit for the quarter) - NAV is based on Q2 2016 reported of $10.70

(1.3%)(4.7%)

PREMIUM / (DISCOUNT) TO NAV

$11.04•

25.8%

$10.20 •

26

INVESTOR FACTSHEET

Ticker NWH.UN 

Listed Exchange TSX

Distribution Payable Monthly

Distribution Type 100% Return of Capital for 2015

Unit Price $10.34 (August 9, 2016)

Market Capitalization  ~$910M

Distribution Yield ~7.7%

52‐Week Trading Range $7.45 ‐ $10.47

Volume Weighted Avg. Price (VWAP) (20‐day) $10.06

Average Daily Volume (20‐day) 278,000

NAV (Q2‐2016) $10.70

27

CONTACT INFORMATION

Paul Dalla Lana, Chairman & CEO416-366-2000 Ext. 1001

Vincent Cozzi, President & CIO 416-366-2000 Ext. 1005

Shailen Chande, VP – Investments 416-366-2000 Ext. 1106

NORTHWEST HEALTHCARE PROPERTIES REIT

2828

I N V E S T M E N T T H E S I SA P P E N D I X 1

29

Aging Population

>65 population cohort growing rapidly in developed countries

580mm people worldwide over 65 by 2018, ~10% of global population

Consolidation & Cost Savings

Scale required for efficiency and quality

Rise of Public Private partnerships

Growing Populations and Wealth Creation

Emerging economies demanding better access to quality care

Patients seeking more choice and control

The Rise of Private Healthcare

Budget pressures affecting the sustainability of public healthcare funding

Governments mandating lower costs and improved quality

Increased Healthcare Spending

$7.2 trillion global healthcare spending 10.6% of global GDP

Growing at 5.2% per annum

COMPELLING NEED FOR CAPITAL, FACILITIES AND REAL ESTATE SOLUTIONSSource: Deloitte 2015 Global Healthcare sector outlook

KEY DRIVERS OF HEALTH CARE REAL ESTATE

30

DEFENSIVE, HIGH YIELDING SECURITY WITH GROWTH POTENTIAL

Supportive Fundamentals

Favourable demographics and industry trends including aging populations and rising healthcare expenditures

Attractive Asset Class

Defensive portfolio comprising core healthcare infrastructure located in global gateway cities supported by robust healthcare systems and leading operators

Growth Opportunities

Significant internal and external growth prospects underpinned by inflation indexed leases, accretive captive expansions and industry consolidation

Value Opportunity

Currently trading at a discounted AFFO multiple and P/NAV relative to Canadian REITs and healthcare real estate peers

Proven & Aligned

10+ year public company history with highly aligned founder and management team

INVESTMENT HIGHLIGHTS

3131

R E G I O N A L P O R T F O L I OO V E R V I E W S

A P P E N D I X 2

32

PORTFOLIO PROFILE

GLOBAL HEALTHCARE REAL ESTATE INFRASTRUCTURE PROFORMA PORTFOLIO COMPRISES 139 PROPERTIES TOTALING 9.3M SQUARE FEET OF GLA IN FIVE COUNTRIES

STRONG OPERATING FUNDAMENTALS WITH OCCUPANCY OF ~96%, WALE OF ~11 YEARS AND 54% / 46% MOB/HOSPITAL MIX

Q2 2016 Normalized (25) Canada Brazil Germany Vital Trust Proforma

GHCProformaRede D’Or

Proforma Platform

Number of Properties 61 5 20 34 17 2 139

Asset Mix (26) 100% MOB 100% Hospital 100% MOB ~15% MOB /

~85% Hospital~33% MOB /

~66% Hospital 100% Hospital 54% MOB / 46% Hospital

GLA (Million Square Feet) 4.1 1.0 0.8 1.8 1.1 0.4 9.3

Gross Assets (27) $1,229 $438 $185 $911 $417 $145 $3.5B

Occupancy 92.9% 100.0% 95.1% 99.4% 98.4% 100.0% 96.2%

WALE (Years) 4.6 20.7 4.8 18.1 12.3 25.0 11.1

Avg. Building Age (Years) ~33 ~12 ~14 ~19 [~] [~] ~25

WeightedAverage Cap Rate (27)

6.6% 9.2% 6.1% 7.2% 7.6% 9.7% 7.3%

33

CANADA: LARGEST PORTFOLIO OF MOB ASSETS

Dundas-Edward Centre Toronto, ON

Le Carrefour MedicalLaval, QC

YT

SK

QC

ON

NU

NT

NL

MB

BC AB

NBPE

NS

Winnipeg (2)

Edmonton (4)

Calgary (7)

Airdrie (1)

Spruce Grove (1)

INVESTMENT AND MARKET OVERVIEW

Canada’s largest non-government owner/manager of MOBs and healthcare related facilities Portfolio of 61 properties comprising GLA of 4.1 million sf and

~1,200 tenants 91.5% occupancy and ~4.7 year WALE

High quality real estate with stable cash flow underpinned by tenancies supported by the Canadian publicly funded healthcare system

Provides stability and diversification to a broader international healthcare real estate portfolio

QC PEON

NS

NB

Levis (1)

Laval (1) Lachenaie (1)Joliette (1)

Hamilton (3)

Halifax (2)

Guelph (2)

Fredericton (1)

Collingwood (1)

Chatham (1)

Cambridge (1)

Richelieu (1)

Quebec City (3)

Ottawa (1)

Oakville (1)

New Glasgow (1)Moncton (1)

Mississauga (1)

Lower Sackville (1)

Longueuil (2)

London (2)

Windsor (2)

Whitby (1)

Vaudreuil-Dorion (1)

Toronto (10)

St. Thomas (1)

Montreal (1)Saint Hubert (1)

CANADA

34

BRAZIL: NEWLY BUILT PRIVATE PAY HOSPITAL ASSETS

INVESTMENT AND MARKET OVERVIEW

Institutional quality, core healthcare infrastructure assets in strategic markets including São Paulo, Brasilia and Rio de Janiero 100.0% occupancy and ~20.7 year WALE

Stable cash flow with long-term, triple-net, inflation-indexed leases, providing consistent organic growth

Long-term relationship with one of the country’s leading hospital operators Rede D’Or São Luiz S.A. (S&P National Rating: AA-)

Hospital Caxias D’OrRio de Janeiro

Hospital Infantil SabaráSão Paulo

Manaus Belem Fortaleza

Natal

Recife

Macieo

Salvador

Brasilia

Rio De JaneiroSão Paulo

Port Alegre

Hospital CoraçãoHospital Santa Luzia

Hospital CaxiasHospital Brasil

Hospital Sabará

PARA

GOIAS

FEDERAL DISTRICT

AMAZONAS

BAHIA

SÃO PAULO RIO DE JANEIRO

RIO GRANDE DO SUL

CEARARIO GRANDE DO NORTE

ALAGOAS

PERNAMBUCO

AMAPÁ

MINAS GERAIS

RORAIMA

MARANHÃO

PIAUI

TOCANTINSRONDÔNIA

ACRE

MATO GROSSODO SUL

PARANÁ

SANTACATARINA

Hospital Ifor

Hospital Santa Helena

Announced Acquisitions

Existing Assets

35

GERMANY: STRATEGICALLY LOCATED MOB ASSETS

6

1

1

11

Berlin Assets

Leipzig Portfolio

Ingolstadt

Fulda

NORDRHEIN-WESTFALEN

NIEDERSACHSEN

BADEN-WÜRTTEMBERG

SAXONY-ASPHALT

HESSEN

RHINELAND-PFALZ

BERLIN

SACHSEN

HAMBURG

SCHLESWIG-HOLSTEIN

BRANDENBURG

BAYERN

MECKLENBURG-VORPOMMERN

SAARLAND

BREMEN

THURINGIA

INVESTMENT AND MARKET OVERVIEW

High quality MOB assets located in the major markets including Berlin, Frankfurt, Ingolstadt and Leipzig 95.1% occupancy and ~4.8 year WALE

Highly fragmented MOBs market in Germany presents a unique opportunity to consolidate healthcare infrastructure assets accretively

Fully integrated property management and asset management capabilities allow efficient operation and deal sourcing

PolimedicaBerlin

Adlershof 1Berlin

Hollis CentreIngolstadt

Berlin NeukollnBerlin

Munich

Frankfurt

36

AUSTRALASIA (1): STRATEGIC INVESTMENT IN VITAL TRUST

WESTERN AUSTRALIA

NORTHERNTERRITORY

QUEENSLAND

SOUTH AUSTRALIA

NEW SOUTH WALES

VICTORIA

TASMANIA

1

1

4

6

6

1

NEW ZEALAND

6

AUSTRALIA

Marian CentrePerth, AU

Epworth Eastern Medical CentreMelbourne, AU

Ascot HospitalAuckland, NZ

Epworth Eastern HospitalMelbourne, AU

INVESTMENT AND MARKET OVERVIEW

Manager and 24.5% strategic shareholder of Vital Trust (NZX:VHP), Australasia’s largest listed healthcare real estate owner with 17 private hospitals, 7 MOBs, 4 aged care assets and 6 development lots 99.4% occupancy and ~18.1 year WALE

Stable and growing cash flows underpinned by tenancies of high quality hospital and healthcare operators with long-term, inflation-indexed leases

37

AUSTRALASIA (2): STRATEGIC INVESTMENT IN GENERATION HEALTHCARE

Epworth Freemasons Private Hospital Melbourne CBD, Victoria

Epworth Victoria Parade HospitalMelbourne CBD, Victoria

Australian Red Cross Blood ClinicBrisbane, Queensland Major Market Focus

− The portfolio is centered around Australia’s three largest cities: Sydney (pop: ~4.9m), Melbourne (pop: 4.5m), and Brisbane (pop: ~2.3m)

Stable, Growing & Accretive Cashflow− Long-term inflation indexed leases to some of the region’s

largest hospital operators − Track record of earnings growth through accretive

acquisitions, expansions, and developments

Core Healthcare Strategy− 10+ years of dedicated healthcare focus− Strong healthcare operator relationships Healthscope,

Epworth Foundation, and St. John of God

STRATEGIC FIT

WESTERN AUSTRALIA

NORTHERNTERRITORY

QUEENSLAND

SOUTH AUSTRALIA

NEW SOUTH WALES

VICTORIA

TASMANIA

9

3

5

PORTFOLIO OVERVIEW

Generation Healthcare REIT (ASX:GHC) is a leading Australian listed healthcare REIT with over A$400M in existing assets and a A$105M+ development pipeline of yields at ~8.25% on average.

Portfolio of 17 Properties of ~1.1M Square Feet 7 hospitals, 5 medical centres, 3 residential aged care, and 2 land

development parcels currently under construction

Strong occupancy and long-term lease expiry profile 98.4% occupancy and ~12.3 year WALE

Casey Specialist CentreMelbourne Suburb, Victoria

3838

M A N A G E M E N TB I O G R A P H I E S

A P P E N D I X 3

39

Peter RigginPresident –Canada

Fully integrated real estate owner and operator

HQ in Toronto plus five regional offices

139 professionals

Gerson AmadoManaging Director –Brazil

Leading healthcare real estate asset management platform

Relationships with hospital operators Rede D’Or SL and Sabara

2 professionals

Jan KrizanManaging Director –Germany

Established platform with full property management and asset management capabilities

Office in Berlin 19 professionals

David CarrPresident -Australasia

CEO – Vital Trust

Fully integrated property management and asset management

Offices in Auckland and Melbourne

12 professionals

Paul Dalla LanaChairman &CEO

Founder of NWH REIT Largest unitholder of NWH

Vincent CozziPresident and CIO

President and CIO Previously Senior Vice

President, Acquisitions at Ventas

Teresa NetoCFO

CFO Previously CFO of KEYreit

and Retrocom REIT Chartered Accountant

Mike BradyEVP & General Counsel

EVP and General Counsel Previously a Partner at

Baker & McKenzie LLP and McLean & Kerr LLP

GLOBAL PLATFORM WITH REGIONAL CAPABILITY AND EXPERTISE

HIGHLY EXPERIENCED AND ALIGNED EXECUTIVE MANAGEMENT TEAM

FULLY ESTABLISHED, SCALABLE REGIONAL TEAMS WITH EXPERTISE IN PROPERTY MANAGEMENT, ACQUISITIONS AND DEVELOPMENT

LOCAL MARKET KNOWLEDGE AND STRONG RELATIONSHIPS WITH LEADING HEALTHCARE PROVIDERS

OVER 180 PROFESSIONALS ACROSS 9 OFFICES IN 5COUNTRIES

MANAGEMENT – COMBINED REIT REGIONAL OPERATING PLATFORM AND EXPERTISE

40

NOTES

1. Based on NWH.UN’s closing unit price of $10.34/unit as of August 9, 2016 and market cap includes the July 2016 equity issuance .2. Based on the REIT’s distribution policy of $0.80/unit per annum and normalized Q2-16 AFFO of $0.92/unit.3. Fully consolidated including the announced GHC Acquisition and Brazil Acquisitions and excluding Canadian assets held for sale. NOI diversification is based on 19.9% and 24.3% proportionate ownership of

Generation Healthcare REIT (“GHC”) and Vital Trust, respectively and includes management fee income from both the GHC and Vital Trust external management entities.4. Reported AFFO/Unit represents quarterly AFFO annualized for the three month period ending June 30, 2016. Normalized AFFO/unit is based on Q2-16 Reported AFFO/unit and adjusted for completed

transactions as presented in the REIT’s Q2-16 MD&A. Run Rate AFFO/unit is based on Normalized AFFO/Unit and adjusts for (i) the completion of the previously announced R$300M Hospital Santa Helena acquisition at a 9.5% cap rate; (ii) the completion of previously announced R$130M Caxias CRI financing at ~8.0%; (iii) contracted rental indexation on the REIT’s Brazilian properties at an annualized IPCA rate of 7.5% through to December 31, 2016; and (iv) the planned repayment of the R$160M Brasilia terms loans bearing interest at 10.3% expiring in December 31, 2016 on comparable terms to the previous Brazil term loan repayments.

5. LTV excludes/includes convertible debentures and is shown on a fully consolidated basis (Vital Trust at 100%). On a proportionate ownership basis, LTV is 52.0% / 59.9% respectively.6. NAV is based on unitholder’s equity plus add-backs of (i) $190.6M of Class B and D exchangeable units; (ii) $65.3M related to the REIT’s proportionate share of its deferred tax liability; (iii) $6.5M net derivative

financial instruments; (iv) $16.7M DUP liability; (v) $2.5M accrued Ontario LTT; and, (vi) $13.5M adjustment to the fair value of the Vital Manager. Normalized NAV is based on reported NAV adjusted for (i) F/X rates as at August 5, 2016 and (ii) issuance of 7.3M units as part of the July 2016 equity offering.

7. Occupancy and WALE metrics have been adjusted to include the announced GHC Acquisition and Brazil Acquisitions and exclude Canadian assets held for sale.8. Defined as total assets.9. Represents Reported AFFO/unit. At inception based on quarterly distributions of $0.20/unit and reflects actual payout ratio for Dec 31, 2010 of ~100%. 10. At inception represents metrics for NorthWest Healthcare Properties based on the IPO prospectus dated of March 25, 2010. 11. Represents same property NOI growth (“SPNOI”) for the three months ended June 30, 2016 in source currency. For Australia, reported same store NOI growth is ~17.0%, however, this has been adjusted to

remove the additional rent received from the completion of brownfield projects. 12. Represents Vital Trust on a fully consolidated basis. [GHC Investment in Normalized?] 13. Generation Manager represents the C$56.4M (A$58.5M) purchase price of 100% of the external management company for Generation Healthcare REIT plus deferred consideration of $8.7M for an outstanding

performance fee, less a $2.9M deferred tax liability. 14. Includes goodwill related to the business combination and Corporate debt including the issued convertible debentures.15. Total liabilities represents the REIT’s total liabilities as presented on its June 30, 2016 balance sheet adjusted for (i) $65.3M related to the REIT’s proportionate share of its deferred tax liability; (ii) $6.5M net

derivative financial instruments; (iii) $16.7M DUP liability; (iv) $2.5M accrued Ontario LTT; and, (v) $13.5M adjustment to the fair value of the Vital Manager.16. Reflects the debt maturity profile as per the REIT’s Q2-16 MD&A and does not include deferred consideration.17. Gross book value represents the $2.9B value of gross assets reported plus the fully consolidated $0.4B of the GHC unit acquisition and $0.15B for the announced Brazil acquisitions.18. Weighted average interest rates and LTV are excluding corporate debt (ie. convertible debentures and revolving credit lines) and are shown on a regional basis. 19. Other represents the adjustment to the Sabara securitization in Brazil for $0.5M and the write-off on transaction costs in Germany for $2.3M related to the Mehrower Allee acquisition in April 2016. 20. In the REIT’s Q2-2016 MD&A, the diversification charts for the countries and asset mix are based on investment value and GLA respectively. The pie charts above reflect proportionate NOI, excluding the

assets held for sale in Canada and include a) the REIT’s 19.9% proportionate ownership of GHC and b) the announced 2 Brazil acquisition and c) Vital and Generation management fee income.21. Gross rent has been adjusted to reflect the REIT’s 24.3% proportionate interest in Vital Trust as well as recording Hospital Sabara at its gross rent (before financing) and includes projected gross rent from the

REIT’s 19.9% proportionate ownership of GHC and the announced 2 Brazil acquisitions, tenanted by Rede D’Or. 22. Redeployment of disposition proceeds is assumed to be in Brazil & Germany based on a 25/75 split, respectively. 23. Assuming projects are 100% debt funded at the existing region’s financing costs and is for indicative purposes only. 24. Does not include development pipeline from announced acquisitions.25. Shown on a fully consolidated basis. NWH owns a 24.3% interest in Vital Trust26. Gross assets (IFRS) as of June 30, 2016 and includes announced GHC acquisition and Brazil acquisitions27. Based on total assets of NWH and Vital Trust and GHC on a fully consolidated basis, including corporate assets which are not shown; approximately $2.2 billion in proportionate ownership28. Per IFRS financial statements as of June 30, 2016