Omega Healthcare Investors (OHI) investor relations material

Executive summary

• Net income for Q2 2026 was $380 million ($1.19 per diluted share), up from $140 million ($0.46 per share) in Q2 2025, driven by strong investment activity and asset sales, with six-month net income at $538.2 million, up from $252.5 million year-over-year.

• Revenues for Q2 2026 were $328 million, a 16% increase year-over-year, driven by rental income, interest income, and new operating segment contributions.

• Leadership transition as CEO and CFO host their final call, with new appointments and related compensation expenses, highlighting 25 years of industry evolution and a strategic shift to a diversified portfolio.

• The company operates two segments: Triple-Net and Operating, with the latter established in 2026 to manage RIDEA-structured senior housing and U.K. care homes.

• Emphasis on proactive portfolio management, capital allocation, and a strong, diverse leadership team positioned for future growth.

Financial highlights

• Q2 2026 revenue was $328 million, up from $283 million in Q2 2025, with rental income at $266.5 million and interest income at $46.8 million.

• Net income available to common shareholders was $380 million ($1.19/share), up from $140 million ($0.46/share) in Q2 2025, primarily due to a $246.5 million gain on asset sales.

• Adjusted FFO was $261 million ($0.83/share), and FAD was $248 million ($0.78/share); AFFO increased slightly sequentially.

• Nareit FFO for Q2 2026 was $224 million ($0.71/share), up from $213 million ($0.70/share) in Q2 2025.

• $700 million in proceeds from asset sales and loan repayments used to pay down revolver, reducing leverage to 3.3x and fixed charge coverage to 6.5x.

Outlook and guidance

• Full-year 2026 Adjusted FFO guidance raised to $3.22–$3.26/share, midpoint up $0.02 from prior guidance.

• Temporary earnings headwinds expected in Q3 due to timing of asset sales and investment pipeline weighted to late Q3/Q4, but strong growth anticipated in Q4 and 2027.

• Guidance includes scheduled loan repayments and assumes $15–$25 million per quarter in asset sales, with continued rent payments from key operators and stable G&A expenses.

• Excludes impact from unannounced acquisitions, capital markets activity, or credit loss provisions.

• Management anticipates sufficient liquidity to fund operations and dividends over the next twelve months.