XRN

BETHESDA, Md., August 18, 2026--(BUSINESS WIRE)--Chiron Real Estate Inc. (NYSE: XRN) (the "Company" or "Chiron") today announced the declaration of the Company’s October, November and December 2026 common dividends and third quarter 2026 Series A and Series B preferred dividends. Declaration of October, November and December 2026 Common Dividends On August 18, 2026, the Board of Directors (the "Board") declared a monthly common stock cash dividend of $0.16 per share for each of October, November and December of 2026, representing an aggregate quarterly cash dividend of $0.48 per share. Details of the dividend are contained in the table below: Declaration of Third Quarter Series A and Series B Preferred Stock Dividends Series A Preferred Stock Dividend. On August 18, 2026, the Board declared a $0.46875 per share cash dividend to holders of record as of October 15, 2026, of the Company’s Series A Preferred Stock, which will be paid on November 2, 2026. This dividend represents the Company’s quarterly dividend on its Series A Preferred Stock for the period from July 31, 2026 through October 30, 2026. Series B Preferred Stock Dividend. On August 18, 2026, the Board declared a $0.50 per share cash dividend to holders of record as of October 15, 2026, of the Company’s Series B Preferred Stock, which will be paid on November 2, 2026. This dividend represents the Company’s quarterly dividend on its Series B Preferred Stock for the period from July 31, 2026 through October 30, 2026. Forward-Looking Statements Certain statements contained herein may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, among others, statements regarding future dividends, financial condition, liquidity and related expectations. Forward-looking statements are based on the Company’s current expectations, estimates and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those projected or assumed. Additional information concerning these and other risks is included in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the SEC. You are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and undertakes no obligation, to update any forward-looking statement. About Chiron Chiron is a real estate investment trust ("REIT") focused on investing in the future of healthcare. At Chiron we strive to deliver value at the intersection of care, capital and real estate. Additional information about Chiron can be obtained on its website at www.chironre.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260818647831/en/ Contacts Investor Relations Email: [email protected] Phone: 202-524-6869

Image source: The Motley Fool. Thursday, Aug. 6, 2026 at 9:00 a.m. ET Chief Executive Officer - Mark Decker, Jr. Chief Investment Officer - Matthew Whitlock Chief Development Officer and Head of Seniors Housing - Bobby Zeiller Chief Administrative Officer - Danica Holley Chief Financial Officer - Bob Kiernan Chief Operating Officer - Aaron Roseth General Counsel - Jamie Barber Senior Vice President, Seniors Housing - Tami Cumings Operator: Good morning, ladies and gentlemen, and welcome to the Chiron Real Estate, Inc. Second Quarter 2026 Earnings Call. [Operator Instructions] This call is being recorded on Thursday, August 6, 2026. I would now like to turn the conference over to Jamie Barber, General Counsel. Jamie Barber: Good morning, everyone, and welcome to Chiron Real Estate, Inc.'s Second Quarter 2026 Earnings Conference Call. My name is Jamie Barber, and I am Chiron's General Counsel. On the call today are Mark Decker, Jr., Chief Executive Officer; Matthew Whitlock, Chief Investment Officer; Bobby Zeiller, Chief Development Officer and Head of Seniors Housing; Danica Holley, Chief Administrative Officer; Bob Kiernan, Chief Financial Officer; and Aaron Roseth, Chief Operating Officer. Statements or comments made on this conference call may be forward-looking statements. Forward-looking statements may include, but are not necessarily limited to, financial projections or other statements of the company's plans, objectives, expectations or intentions. These matters involve certain risks and uncertainties. The company's actual results may differ significantly from those projected or suggested from any forward-looking statements due to a variety of factors, which are discussed in detail in our SEC filings. Additionally, on this call, the company may refer to certain non-GAAP financial measures. You can find a tabular reconciliation of these non-GAAP financial measures to the most currently comparable GAAP numbers in the company's earnings release and in filings with the SEC. Additional information may be found on the Investor Relations page of the company's website at www.chironre.com. I would now like to turn the call over to Mark. Mark Decker: Thank you, Jamie, and good morning, everyone. I feel like a kid in a candy store this morning sitting around the table with all this talent, and I'm even more excited that we share the same simple vision to deliver value at the intersection of care, capital and real estate. I want to start by welcoming Tami Cumings, Aaron Roseth, Matthew Whitlock and Bobby Zeiller. And I'd like to thank Bob, Danica, Jamie and the rest of our team for a tremendously productive 5 months. I also want to recognize and thank Alfonzo Leon, who stepped down earlier this week as Chief Investment Officer. When we laid out our priorities earlier this year, we said we would focus on active capital allocation, portfolio repositioning and building the capabilities necessary to support our next phase of growth. Over the last several months, we've made meaningful progress on each of these objectives. Before discussing the transformation that's underway, it's important to recognize that our existing portfolio continues to perform well. During the quarter, same-store NOI increased 1.7% on a normalized basis, which is in line with our expectations and the same-store guidance we issued at the beginning of the year. The strategic actions we're taking today are not a response to operational challenges. It's about capital allocation. Outpatient medical can be an excellent investment. But as we've discussed, there are better total returns available within health care real estate. With that in mind, I'd like to discuss what we're doing to position Chiron for the future. The common thread across everything we're doing is straightforward. We're reallocating resources towards opportunities that we expect to create a more durable and relevant real estate platform that can compound stronger long-term returns. And so let's review our recent progress. We closed on the $100 million May win investment contemporaneously with the closing of our first 2 seniors communities, the Landing, a stabilized continuum of care community in Alexandria, Virginia; and the Riviera, a sister community across the courtyard from the Landing, which opened this March and is in lease-up. Together, this forms a community of 292 luxury homes. We completed the sale of 7 inpatient rehab facilities to a newly formed joint venture in June at an exit cap rate of 7.3%. This generated approximately $200 million of gross proceeds, and we retained a small equity interest in the venture. The combination of these transactions leaves us well positioned on the balance sheet side with no maturities until 2028 and less than 40% leverage. And while I know we all prefer debt to EBITDA, given the nature of our lease-up communities, we're going to refer principally to our covenant metrics for a time. The team has maintained momentum on asset sales, and I'm pleased to announce that we're under contract to sell our Beaumont, Texas Surgical Hospital for a price of $49 million, representing an exit cap rate of 5.9%. Proceeds from these sales will be directed towards assets offering a higher return on capital. The most immediate use will be to complete the previously announced acquisition of the Pinnacle, a marquee luxury community that we put under contract in the second quarter. The Pinnacle welcomed its first residents in June, and we couldn't be more pleased with the early momentum of the community. We remain active in evaluating further dispositions from our outpatient medical platform -- or outpatient medical portfolio, excuse me, including through individual sales or larger portfolio transactions and see no shortage of opportunities to redeploy these proceeds in a way that will drive our long-term return on capital higher and deliver value to our shareholders. While there's been a lot of transactional activity, the biggest story is our leadership team. Executing on a transition of this magnitude and then building the business we envision requires specialized expertise, and we've spent considerable time strengthening the organization accordingly. Over the past several weeks, we've welcomed Tami Cumings, Aaron Roseth, Matthew Whitlock and Bobby Zeiller into leadership roles at Chiron. Together, they bring more than 100 years of experience sourcing, developing, operating and managing senior housing communities. Most importantly, these additions are highly complementary. This is an operational business and to be a good partner, we need a strong operator's eyes. With Tami Cumings, our new SVP of Seniors Housing, we've added decades of operating experience to ensure that our communities are managed in a best-in-class fashion. To be a great partner with operators and deliver a consistent experience for our team in the Street, we need an organization that remains curious and focused on constant improvement. Aaron Roseth, who led a best-in-class architecture firm with industry-leading profitability, is skilled at both running large gray matter organizations and building deep client relationships. Together with Danica, who's in many ways, the heart and soul of our company, we are seeking to become the best partner we can. Matthew joins us as Chief Investment Officer with 3 decades of senior housing, thought leadership and experience on all sides of the business. He will be the tip of the spear as we seek to deploy capital wisely. Bobby is Chiron's Chief Development Officer and Head of Seniors. Bobby literally built the Bedrock communities that we purchased from Silverstone, which he led. And in addition to constructing communities, he has a great way with people and ultimately, I think his superpower is working with operators with a focus on empathy and respect as well as accountability and most importantly, an eye to what sustains a great customer experience for our residents. Together, these leaders expand our ability to identify opportunities, underwrite risk, support operators, work as an effective team and maximize performance across the portfolio. We believe Chiron now has the leadership platform necessary to deliver on our vision. Finally, I'd like to address valuation. We continue to believe the market is not fully recognizing the value embedded within our legacy outpatient medical portfolio. Our belief is supported by a growing body of public and private market transaction activity that demonstrates the robust institutional demand for outpatient medical real estate at cap rates that compare favorably to the implied valuation of our MOB portfolio. We've highlighted this on Page 14 of our most recent investor presentation. We can't control where the market values our shares in the near term. What we can control is disciplined execution. We believe that it's prudent to lean into this pricing dislocation and sell assets, which we believe will offer meaningful upside that's not currently reflected in our stock price and allow us to reallocate capital into higher returning assets. Taken together, we believe the company is better positioned today than it was 6 months ago. We have enhanced our leadership capabilities, made meaningful progress on our portfolio transition and established a clear road map for continued execution. With that, I'll turn the call over to Bob to provide additional details on our financial and operating results for the quarter. Robert Kiernan: Thanks, Mark. Regarding our second quarter results, NAREIT defined FFO per share and unit was $0.88 and our core FFO was $1.04 per share and unit. Driven by the timing of our investment and disposition activity, net debt to adjusted EBITDAre was 6.0x for the quarter compared to 6.6 in the first quarter. Our same-store cash NOI increased 0.8% on a year-over-year basis. This increase was consistent with our expectations and was adversely impacted by a onetime nonrecurring revenue recovery recognized in the prior year period related to a single tenant. Excluding this asset, same-store cash NOI growth would have been 1.7%. Our cash G&A for the second quarter was $3.8 million, is down slightly from the first quarter of this year. Looking ahead, while we expect that the changes in senior management will increase our G&A costs in the short term, we believe that as we reposition the investment portfolio, our costs will be in line with the size of our portfolio. Regarding our equity capital, we're pleased to have issued the $100 million of Series C convertible perpetual preferred in the quarter. The sale of our 7 inpatient rehab facilities at an aggregate value of $217 million demonstrates our ability to recycle capital at an attractive rate. We ended the quarter with $259 million in unutilized borrowing capacity under our credit facility and our leverage ratio of just under 40%. Mark, would you like to provide any closing remarks? Mark Decker: Thanks, Bob. Before opening the call for questions, I'd like to leave everyone with one final thought. The story at Chiron today is not about aspirations. It's about execution. Over the last several quarters, we've built a strategy, assembled a team, raised fresh capital, completed acquisitions and successfully recycled assets. There's certainly more work ahead, but our entire team is laser-focused on building Chiron into a best-in-class organization. We're excited to share more about the business. Operator, please open the line. Operator: [Operator Instructions] We have our first question from Juan Sanabria with BMO Capital Markets. Juan Sanabria: Congrats on the new team and being assembled, I guess. Just hoping, Mark, maybe you could talk a little bit about the strategy here going forward and what types of assets you're looking for? And as part of that, kind of the plans for the Reston Land parcel acquisition you announced with results yesterday. Mark Decker: Sure. Thanks, Juan. Well, the strategy is, as we've outlined, to be focused on seniors housing. And I mean, honestly, the Reston Land, we have a great plan for. It's -- I would remind you, it's less than -- it's about 1% of assets, and we'll tell you more as that plan unfolds. But short version, we're going to use it as currency to build rapport with operators. And it's shovel-ready and great [indiscernible]. Juan Sanabria: Sorry, maybe I wasn't super clear. Just I guess, is the focus to be more on development assets that require patients and lease-up or more stabilized assets in terms of the acquisitions of capital recycling? Mark Decker: Definitely more stabilized assets. Juan Sanabria: Great. And then I think Bob alluded to it. How should we think about the pro forma G&A run rate with the additions to the team? Mark Decker: I mean for the time, it will be higher. But I mean I would say, Juan, we're really viewing this as a growth-oriented team and a growth-oriented business with a source of capital that's right in front of us in the form of the outpatient medical assets. And so our expectation is the business will grow and mature and our G&A will be in line or better. Operator: Our next question comes from Wes Golladay with Baird. Wesley Golladay: Maybe a follow-up to Juan's question on the development parcel. Do you have an idea what you want to do? Would it be an active adult? Or would it be more of the acuity curve? And maybe talk about the competitive landscape in that market? Mark Decker: Yes. Again, I think you're probably overemphasizing a 1% investment, but it's your time. So I mean, yes, it would be a likely full continuum community. It's kind of right down the middle of fairway in terms of demographics. And I would expect we'll come up with some thoughtful way to partner with someone on an earnings-oriented manner. Wesley Golladay: Okay. And then maybe going back to the team build-out. Do you have the team in place? Are you still looking to fill any positions? Mark Decker: We're in -- I think we're in a great spot. Wesley Golladay: Okay. And then last one for me. You have made the pivot to senior housing, but you're still remaining opportunistic in OM. Is that going to be part of the playbook going forward? Mark Decker: Yes. I mean I think the playbook is really to try to generate the best returns on capital possible and work with partners who value what we're up to. But I mean, we're very focused proportionately on senior housing. Operator: Our next question is from Dave Rodgers with Raymond James. David Rodgers: Mark, I wanted to follow up, I guess, on some of those same questions. But you mentioned valuation in your opening. And setting aside the right value for now historically in the space, best way to highlight value, eliminate loans, eliminate mezzanine, eliminate joint ventures, get to a clean portfolio and kind of highlight that. And obviously, some of the steps in the quarter aren't going in that direction. So I guess, do you see just a longer access than maybe people have originally anticipated from your comments from the outpatient medical? Is it that you're trying to kind of maintain some level of earnings or cash flow for debt coverage? I mean what's the rationale, I guess, for staying involved in these businesses given how good seniors is today? Mark Decker: You're talking about the 2 loans? David Rodgers: Yes. I mean a combination of the loans, the active adult and just kind of like where do you want to be in that spectrum? And again, the IRF JV that you did, why not exit that outright? Why stay in some of these businesses? I think it is kind of the question of why continue to allocate capital there, even though you sold some, you're still allocating capital to the IRFs as opposed to allocating that full capital into seniors. Mark Decker: Yes, fair question. I mean, listen, I think -- I don't know what everyone's expectations are for the access of how long this will take, but I think it's reasonable to assume it will take more time than immediate. And some of these things, it just depends. I mean if you think about the IRF business, that's really a niche within a niche. And there is some kind of mid-duration leasing work to be done there that is how we think we optimize value and to get the best price, that's a space where money -- investors want some expertise. So they value our expertise there. We think that there is an opportunity to reset those leases, but it isn't today, it's 4.5 years from now. So I think to get the execution we got there, which was outstanding from a cap rate and valuation perspective, that's what we needed to do to drive the best value for the company, and that's really how we're focused. So I think you'll continue to see that. I mean I think if you looked at the quarter, we announced $421 million of seniors investments, and we announced a $15 million land piece and $5 million of mezz loans, and I should think those are like reasonable proportions to expect going forward. David Rodgers: And then maybe just on your last comment, that was all helpful. That last comment about kind of the senior side of the business. Can you talk about maybe what the pipeline of assets that you're looking at today looking forward as you are trying to make that shift? Is that continuing to grow? Are we waiting for the new team members to kind of take a look at that and kind of redefine where we want to go? How do you think about kind of what that pipeline looks like today? Mark Decker: To quote our President, it's huge. No, listen, we have lots of good ideas. Matthew, who's sitting next to me and can speak to this himself has -- look, we have a very large pipeline, more ideas, I'd say, than capital right now. And so the art of it for us is to get out of those find deliver some proceeds for those investments. But Matthew, do you want to speak to that for a second? Matthew Whitlock: Yes. Thanks, Mark. Just to let you know, we've already begun developing a pretty robust pipeline of investment opportunities. We're focusing on investments, which will provide long-term earnings growth and as importantly, partnership opportunities with best-in-class operators. We're -- the sky is the limit, our canvas is blank, but we're concentrating on specific MSAs and specific operating partners who have shown time and again their ability to operate efficiently and also to provide the best living and care experience to the residents. Operator: We have our next question from Gaurav Mehta with Alliance Global Partners. Gaurav Mehta: I wanted to ask you on the asset sales. Are you looking to sell any more assets after Beaumont sales? Mark Decker: Sorry, I didn't catch the last part. Are we looking to sell what? More... Gaurav Mehta: Are you looking to sell any more assets after the Beaumont sale? Mark Decker: Yes. Yes. Yes. I mean we've hired a broker to help us evaluate the best way to do that in a way that maximizes value. So kind of looking at the portfolio, we could obviously sell it in 180 pieces, there are 5 or 1, and there's a lot of considerations that go into that, but that's how we're exploring it right now. Gaurav Mehta: Okay. And second question on the mezz loans that you guys did. Is there rationale for mezz loans to generate some income? And then how do you think about mezz loans as a percentage of your assets? Are you looking to grow that part of your portfolio? Mark Decker: Yes. I mean those are really, one, small 33 basis points of the whole book, if you will. And two, they're cash pay. They're with an outstanding sponsor with an outstanding credit. We have all the docs. It's pretty easy for us to do those. So I would say we just look at that as a nice way to generate some return on capital where we get our money back in 2 years and have optionality on those assets. So that's sort of the why of it. Operator: There are no further questions at this time. I will now turn the call over to Mark for closing remarks. Mark Decker: Well, thanks, everybody. We appreciate everyone's time and attention. And as we like to point out, the transition is underway. Capital allocation is improving, and there's outstanding value in our stock today. We look forward to talking to you next quarter. Operator: Ladies and gentlemen, this concludes today's conference. We thank you for your participation. You may now disconnect. Before you buy stock in Chiron Real Estate, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Chiron Real Estate wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $403,337!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,334,946!* Now, it’s worth noting Stock Advisor’s total average return is 958% — a market-crushing outperformance compared to 214% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of August 12, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Chiron Real Estate (XRN) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Interested in Global Medical REIT Inc.? Here are five stocks we like better. Portfolio repositioning: Chiron is shifting from outpatient medical real estate toward senior housing, investing $421 million in senior housing during the quarter while selling seven inpatient rehabilitation facilities for about $200 million and pursuing additional dispositions. Stable operating performance: Normalized same-store NOI rose 1.7%, while Core FFO was $1.40 per share and unit. The company also improved net debt to adjusted EBITDA to 6.0x, had $259 million of available credit capacity and no debt maturities until 2028. Expansion and leadership: New senior-housing executives are supporting a growing investment pipeline focused primarily on stabilized communities and experienced operating partners, as management seeks to improve long-term returns and address what it views as undervaluation of its legacy medical portfolio. Global Medical: This REIT Just Got a 30% Price Target Chiron Real Estate reported second-quarter results as it continues to reposition its portfolio toward senior housing and away from outpatient medical real estate, with management emphasizing capital recycling, leadership additions and a growing investment pipeline. Chief Executive Officer Mark Decker Jr. said the company’s existing portfolio remained operationally stable while it pursued a broader strategic transition. Normalized same-store net operating income increased 1.7% during the quarter, in line with the company’s expectations and its guidance at the start of the year, he said. → No Hangover: Revisiting Microsoft One Week After Earnings “The strategic actions we’re taking today are not a response to operational challenges,” Decker said. “It’s about capital allocation.” He said the company sees opportunities for better total returns within healthcare real estate than in portions of its outpatient medical portfolio. During the quarter, Chiron closed a $100 million Maewyn investment alongside the acquisition of its first two senior housing communities: The Landing and The Riviera in Alexandria, Virginia. The properties together comprise 292 luxury homes. The Landing is a stabilized continuum-of-care community, while The Riviera opened in March and remains in lease-up. → MarketBeat Week in Review – 08/03 - 08/07 Chiron also completed the sale of seven inpatient rehabilitation facilities to a newly formed joint venture in June. The transaction generated about $200 million in gross proceeds, according to Decker, while the company retained a small equity interest in the venture. Chief Financial Officer Bob Kiernan said the facilities were sold at an aggregate value of $217 million. In addition, the company is under contract to sell a surgical hospital in Beaumont, Texas, for $49 million at a 5.9% exit capitalization rate. Decker said proceeds from asset sales will be redirected into higher-returning investments, including the previously announced acquisition of The Pinnacle, a luxury senior housing community that welcomed its first residents in June. → Why the Landlord of the AI Boom Could Outlast the Chipmakers Management said it is evaluating additional dispositions from the outpatient medical portfolio, including individual asset sales and potential larger portfolio transactions. Chiron has hired a broker to help evaluate options for selling further assets in a manner intended to maximize value, Decker said in response to an analyst question. For the second quarter, Kiernan reported GAAP-redefined funds from operations of $0.88 per share and unit, while Core FFO was $1.40 per share and unit. Same-store cash NOI increased 0.8% year over year. The result was affected by a one-time, non-recurring revenue recovery recorded in the prior-year period for a single tenant. Excluding that asset, same-store cash NOI growth would have been 1.7%, Kiernan said. Cash general and administrative expense was $3.8 million in the second quarter, slightly below the first-quarter level. Kiernan said recent senior-management changes are expected to raise G&A in the near term, although management expects costs to align with the size of the portfolio as the repositioning advances. Net debt to adjusted EBITDA was 6.0 times, compared with 6.6 times in the first quarter. The company ended the quarter with $259 million of unused borrowing capacity under its credit facility. Leverage was just under 40%, and management said the company has no debt maturities until 2028. Chiron issued $100 million of Series C convertible perpetual preferred equity during the quarter. Decker highlighted several leadership appointments intended to support the company’s senior housing expansion. The company welcomed Tami Cumings as senior vice president of seniors housing, Aaron Roseth in an operating leadership role, Matthew Whitlock as chief investment officer, and Bobby Zeiller as chief development officer and head of seniors housing. Decker said the additions bring more than 100 years of combined experience in sourcing, developing, operating and managing senior housing communities. He also recognized Alfonso Leon, who stepped down as chief investment officer earlier in the week. In response to questions on the company’s strategy, Decker said Chiron expects to focus primarily on stabilized senior housing assets rather than developments requiring extended lease-up periods. The company’s recently acquired Reston land parcel represents about 1% of assets and could likely support a full-continuum community, he said. Whitlock said the company has already developed a “pretty robust pipeline” of investment opportunities. He said Chiron is prioritizing investments that can provide long-term earnings growth and partnerships with experienced operators in targeted metropolitan areas. Although senior housing will be the company’s principal focus, Decker said Chiron will remain opportunistic across real estate investments where it believes it can generate strong returns on capital. He cited the quarter’s announced $421 million of senior housing investments, compared with a $15 million land investment and $5 million of mezzanine loans. Management characterized the mezzanine loans as a small part of the portfolio, representing roughly 33 basis points of the book. Decker said they are cash-paying investments with an established sponsor and credit profile, designed to generate returns while providing the company with optionality on the related assets. Decker said Chiron believes public market valuation does not fully reflect the value of its legacy outpatient medical portfolio. He pointed to public and private transaction activity that he said indicates institutional demand for outpatient medical real estate at capitalization rates that compare favorably with the implied valuation of the company’s medical office building portfolio. The company plans to use disciplined asset sales and reinvestment to address that disconnect, Decker said. “We can’t control where the market values our shares in the near term,” he said. “What we can control is disciplined execution.” Chiron concluded that its transformation remains underway, with management focused on completing portfolio sales, deploying capital into senior housing and building a larger operating platform around its expanded leadership team. Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures. Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Global Medical REIT Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

–Advances Portfolio Repositioning Through SHOP Acquisitions and Legacy Asset Sales– –Expands Senior Housing Leadership Platform to Support Next Phase of Growth– BETHESDA, Md., August 05, 2026--(BUSINESS WIRE)--Chiron Real Estate Inc. (NYSE: XRN) (the "Company" or "Chiron"), today announced financial results for the three months ended June 30, 2026 and other data. Mark Decker, Jr., Chief Executive Officer and President stated, "When we outlined our priorities earlier this year, we committed to active capital allocation, portfolio repositioning, and building the capabilities necessary to support our next phase of growth. During the second quarter, we made meaningful progress on each objective. We completed our inaugural SHOP acquisitions, monetized legacy assets at attractive valuations, strengthened our leadership team, and continued to redeploy capital into investments that we believe offer superior long-term return potential. While there is still work ahead, we believe the actions we've taken over the last several months have positioned Chiron as a stronger, more capable, and more relevant healthcare real estate company." In conjunction with this release, the Company has posted an updated Investor Presentation to the Investor Relations section of its website. The presentation includes additional information regarding the Company's investment and disposition activity, portfolio composition, and strategic priorities. NOTE: All share and per share data have been adjusted for all periods presented to reflect the Company’s one-for-five reverse stock split that was effective September 19, 2025. Quarterly Financial Highlights Reported quarterly net income attributable to common stockholders of $63.3 million, or $4.78 per diluted share, as compared to net loss of $0.8 million, or $0.06 per diluted share, in the comparable prior year period. Reported quarterly funds from operations attributable to common stockholders and noncontrolling interest ("FFO") of $0.88 per share and unit, as compared to $0.98 per share and unit in the comparable prior year period. Reported core funds from operations attributable to common stockholders and noncontrolling interest ("Core FFO") of $1.04 per share and unit, as compared to $1.14 per share and unit in the comparable prior year period. Second quarter same-property cash net operating income ("Same-Property Cash NOI") growth on the Company’s Outpatient Medical portfolio was +0.8% on a year-over-year basis. Results were adversely impacted by a one-time, non-recurring revenue recovery recognized during the comparable prior-year period associated with a single asset; excluding this asset, Same-Property Cash NOI growth would have been +1.7%, consistent with Management’s expectations. Portfolio Update Outpatient Medical Portfolio At quarter end, the Company’s Outpatient Medical portfolio was comprised of: 4.6 million leasable square feet, $100 million of annualized Cash NOI, Weighted average lease term ("WALT") of 4.4 years, Weighted average annual base rent escalations of 2.1%, and 95% leased occupancy rate. Seniors Housing Operating Portfolio ("SHOP") At quarter end, the Company’s SHOP portfolio was comprised of two communities totaling 292 homes. Additional operating details on the Company’s communities are as follows: The Landing: As of June 30, 2026, The Landing was 93% occupied – an increase of 3% relative to April 30, 2026. Occupancy as of July 31, 2026 was 96%. The Riviera: Following its opening in March 2026, as of June 30, 2026, The Riviera was 23% occupied – an increase of 8% relative to April 30, 2026. Occupancy as of July 31, 2026 was 26%, reflecting continued leasing progress during the community's initial lease-up period. It is expected that The Landing and Riviera will deliver a yield on cost of greater than 7% upon stabilization in the second half of 2028. Other Recent Events Leadership Update During the quarter, the Company continued to strengthen its leadership platform with the additions of Matthew Whitlock as Chief Investment Officer; Bobby Zeiller as Chief Development Officer and Head of Seniors Housing; Aaron Roseth as Chief Operating Officer; and Tami Cummings as Senior Vice President, Seniors Housing. Together, these additions add over 100 years of senior housing expertise to our team, enhancing Chiron's ability to source investments, support operators, optimize performance, and execute on its strategic growth initiatives. Second Quarter Investments and Dispositions The Landing & Riviera: In June 2026, the Company completed the acquisition of two newly-constructed luxury seniors housing communities located within the affluent Potomac Yard submarket of Alexandria, Virginia for an aggregate purchase price of $249 million. These acquisitions represent the Company's inaugural SHOP investments. Both communities will be managed as seniors housing operating properties and are expected to deliver a double-digit unlevered IRR. Please refer to the Company’s May 6th, 2026 press release for further information on these communities. IRF Portfolio Sale: In June 2026, the Company completed the sale of seven Inpatient Rehabilitation Facilities ("IRFs") to a newly-formed joint venture at an aggregate value of $217 million, representing a 7.3% exit cash capitalization rate. Chiron retained a 15% equity interest and is the manager of the JV, continuing to oversee asset management in exchange for a management fee. Hudson Active Adult Joint Venture: In May 2026, the Company paid $6.7 million to acquire a 49% equity interest in a 128-home Active Adult development in Hudson, Wisconsin (a suburb of Minneapolis, Minnesota), with completion expected in the fourth quarter of 2027. In connection with its establishment, the joint venture entered into a construction loan with a principal balance of $26.0 million. The Company expects to realize a mid-teen levered IRR on its investment. Fort Myers Mezzanine Loan: In April 2026, the Company completed the initial funding of a $3.0 million mezzanine loan, the proceeds of which are being used to develop a medical facility in Fort Myers, Florida. The facility is fully pre-leased on a long-term, built-to-suit basis to an investment-grade regional health system. The loan bears interest at 12% per annum during its initial 24-month term and carried a balance of $2.9 million as of June 30, 2026. Heitman OM Joint Venture: In June 2026, the Company paid $0.7 million to acquire a 12.5% equity interest in a 32,000 square foot outpatient medical facility located in Coon Rapids, Minnesota. The Company expects to realize a high-teens levered IRR on its investment, inclusive of a $0.1 million acquisition fee paid to Chiron at closing. Subsequent Investment and Disposition Activity Daleville Mezzanine Loan: In July 2026, the Company completed the initial funding of a $2.2 million mezzanine loan, the proceeds of which will be used to develop a medical facility in Daleville, Virginia. The property is fully pre-leased on a long-term, built-to-suit basis to an investment-grade regional health system. The loan bears interest at 12% per annum during its initial 24-month term. Pending Investment and Disposition Activity The Pinnacle: In May 2026, the Company signed a purchase agreement (subject to customary closing conditions) for a newly constructed luxury senior housing community located in North Bethesda, Maryland for a purchase price of approximately $176 million. This luxury community, located adjacent to Pike & Rose, a premier mixed-use development, offers residents a full continuum of care across a mix of independent living, assisted living, and memory care housing. It is anticipated that this acquisition will close in the fourth quarter. This community will be managed as a SHOP and is expected to deliver a double-digit unlevered IRR. Reston Land: In July 2026, the Company signed a purchase agreement (subject to customary closing conditions) to acquire a 22-acre parcel of land in Reston, Virginia for a purchase price of approximately $15 million. The parcel is zoned for a senior housing community of no greater than 131 units. It is anticipated that this acquisition will close in the third quarter. Beaumont Surgical Hospital: In July 2026, the Company signed a sale agreement (subject to customary closing conditions) to dispose of the Beaumont Surgical Hospital for a price of approximately $49 million, representing a sale cap rate of approximately 5.9%. It is anticipated that this disposition will close in the fourth quarter. Capital Markets During the quarter, the Company issued $100 million of its 6.00% Series C Convertible Perpetual Preferred stock (the "Series C Preferred Stock") to an investor group led by Maewyn Capital Partners. The Series C Preferred Stock has an annual dividend yield of 6.00% that increases after the fourth anniversary of the issuance of the shares if the shares are still outstanding at that time. The Series C Preferred Stock is convertible into shares of the Company’s common stock at a conversion price of $43.00 per share. In connection with the issuances of the Series C Preferred Stock, the Board of Directors of the Company appointed Mr. Charles Fitzgerald to the Board of Directors on May 20, 2026. White Rock Bankruptcy On July 17, 2026, White Rock Medical Center LLC ("White Rock") filed its modified Second Plan of Reorganization in connection with its Chapter 11 bankruptcy reorganization process. Pursuant to the Second Plan of Reorganization, White Rock intends to affirm the lease at our facility in Dallas, Texas. There can be no assurance that White Rock will not change its plan to affirm its lease with us or that we will receive any amounts owed to us. Since the date of its bankruptcy filing through August 4, 2026, White Rock remains current in its rent obligations to us. Balance Sheet and Capital At June 30, 2026, consolidated debt outstanding, including borrowings on the credit facility and notes payable (both net of unamortized debt issuance costs), was $633.1 million and the Company’s leverage was 39.9% of total gross assets compared to 44.7% as of March 31, 2026. As of June 30, 2026, the Company’s total debt carried a weighted average interest rate of 4.56% and a weighted average remaining term of 3.6 years, with 78% fixed rate debt. The Company has no debt maturities in 2026 or 2027. During the second quarter, $350.0 million of interest rate derivatives associated with the Company’s legacy Term Loan A matured which had previously swapped SOFR to a fixed rate of 1.36%. The Company's weighted average interest rate as of June 30, 2026 gives effect to $350.0 million of previously executed interest rate swaps that fix SOFR to a blended rate of 3.29%. As of August 4, 2026, the Company’s borrowing capacity under the credit facility was $245.5 million. Supplemental Information Details regarding these results can be found in the Company’s supplemental financial package available on the Investor Relations section of the Company’s website at: http://www.chironre.com/investor/investor-overview/default.aspx Conference Call and Webcast Information The Company will host a live webcast and conference call on Thursday, August 6, 2026, at 9:00 a.m. Eastern Time. The webcast is located on the "Investor Relations" section of the Company’s website at: http://www.chironre.com/investor/investor-overview/default.aspx To Participate via Telephone: Dial in at least five minutes prior to start time and reference Chiron Real Estate Inc. Dial in numbers: 1-800-717-1738 or 1-646-307-1865 Replay: An audio replay of the conference call will be posted on the Company’s website. Non-GAAP Financial Measures General Management considers certain non-GAAP financial measures to be useful supplemental measures of the Company's operating performance. For the Company, non-GAAP measures consist of Funds From Operations attributable to common stockholders and noncontrolling interest ("FFO"), Core FFO (formerly Adjusted Funds From Operations), Funds Available For Distribution attributable to common stockholders and noncontrolling interest ("FAD"), Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate ("EBITDAre" and "Adjusted EBITDAre"), Net Operating Income ("NOI"), Cash NOI and Same-Property Cash NOI. A non-GAAP financial measure is generally defined as one that purports to measure financial performance, financial position or cash flows, but excludes or includes amounts that would not be so adjusted in the most comparable measure determined in accordance with GAAP. The Company reports non-GAAP financial measures because these measures are observed by management to also be among the most predominant measures used by the REIT industry and by industry analysts to evaluate REITs. For these reasons, management deems it appropriate to disclose and discuss these non-GAAP financial measures. The non-GAAP financial measures presented herein are not necessarily identical to those presented by other real estate companies due to the fact that not all real estate companies use the same definitions. These measures should not be considered as alternatives to net income, as indicators of the Company's financial performance, or as alternatives to cash flow from operating activities as measures of the Company's liquidity, nor are these measures necessarily indicative of sufficient cash flow to fund all of the Company's needs. Management believes that in order to facilitate a clear understanding of the Company's historical consolidated operating results, these measures should be examined in conjunction with net income and cash flows from operations as presented elsewhere herein. FFO and Core FFO FFO and Core FFO are non-GAAP financial measures within the meaning of the rules of the United States Securities and Exchange Commission ("SEC"). The Company considers FFO and Core FFO to be important supplemental measures of its operating performance and believes FFO is frequently used by securities analysts, investors, and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results. In accordance with the National Association of Real Estate Investment Trusts’ ("NAREIT") definition, FFO means net income or loss computed in accordance with GAAP before noncontrolling interests of holders of OP units and LTIP units, excluding gains (or losses) from sales of property and extraordinary items, property impairment losses, less preferred stock dividends, plus real estate-related depreciation and amortization (excluding amortization of debt issuance costs and the amortization of above and below market leases), and after adjustments for unconsolidated partnerships and joint ventures calculated to reflect FFO on the same basis. Because FFO excludes real estate-related depreciation and amortization (other than amortization of debt issuance costs and above and below market lease amortization expense), the Company believes that FFO provides a performance measure that, when compared period-over-period, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, development activities and interest costs, providing perspective not immediately apparent from the closest GAAP measurement, net income or loss. Core FFO is a non-GAAP measure used by many investors and analysts to measure a real estate company’s operating performance by removing the effect of items that do not reflect ongoing property operations. Management calculates Core FFO by modifying the NAREIT computation of FFO by adjusting it for certain cash and non-cash items and certain recurring and non-recurring items. For the Company these items include: (a) recurring acquisition and disposition costs, (b) loss on the extinguishment of debt, (c) recurring straight line deferred rental revenue, (d) recurring stock-based compensation expense, (e) recurring amortization of above and below market leases, (f) recurring amortization of debt issuance costs, (g) severance and transition related expense, (h) reverse stock split expense and (i) other items related to unconsolidated partnerships and joint ventures. Management believes that reporting Core FFO in addition to FFO is a useful supplemental measure for the investment community to use when evaluating the operating performance of the Company on a comparative basis. FAD We calculate FAD by subtracting from Core FFO capital expenditures, including tenant improvements, and leasing commissions. Management believes FAD is useful in analyzing the portion of cash flow that is available for distribution to stockholders and unitholders. Investors, analysts and the Company utilize FAD as an indicator of common dividend potential. The FAD payout ratio, which represents annual distributions to common stockholders and unitholders expressed as a percentage of FAD, facilitates the comparison of dividend coverage between REITs. EBITDAre and Adjusted EBITDAre We calculate EBITDAre in accordance with standards established by NAREIT and define EBITDAre as net income or loss computed in accordance with GAAP plus depreciation and amortization, interest expense, gain or loss on the sale of investment properties, property impairment losses, and adjustments for unconsolidated partnerships and joint ventures to reflect EBITDAre on the same basis, as applicable. We define Adjusted EBITDAre as EBITDAre plus loss on extinguishment of debt, non-cash stock compensation expense, non-cash intangible amortization related to above and below market leases, severance and transition related expense, reverse stock split expense, transaction expense, adjustments related to our investments in unconsolidated joint ventures, and other normalizing items. Management considers EBITDAre and Adjusted EBITDAre important measures because they provide additional information to allow management, investors, and our current and potential creditors to evaluate and compare our core operating results and our ability to service debt. NOI, Cash NOI and Same-Property Cash NOI We consider net operating income, or NOI, to be an appropriate supplemental measure to net income because it helps both investors and management understand the core operations of our properties. We define NOI as total net (loss) income, plus depreciation and amortization expenses, general and administrative expenses, transaction expenses, impairments, gain/loss on sale of real estate, interest expense, and other non-operating items. Cash NOI and Same-Property Cash NOI are key performance indicators. Management considers these to be supplemental measures that allow investors, analysts and Company management to measure unlevered property-level cash operating results. The Company defines Cash NOI as NOI excluding non-cash items such as above and below market lease intangibles and straight-line rent. Cash NOI is historical and not necessarily indicative of future results. Same-Property Cash NOI compares Cash NOI for stabilized properties. Stabilized properties are properties that have been included in operations for the duration of the year-over-year comparison period presented. Accordingly, stabilized properties exclude properties that were recently acquired or disposed of, properties classified as held for sale, properties undergoing redevelopment, and newly redeveloped or developed properties. Same-Property Cash NOI also excludes lease terminations fees and joint venture and other income in order to remove non-recurring items and joint venture-related income from our NOI. Forward-Looking Statements Certain statements contained herein may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and it is the Company’s intent that any such statements be protected by the safe harbor created thereby. These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "plan," "predict," "project," "will," "continue" and other similar terms and phrases, including references to assumptions and forecasts of future results. Except for historical information, the statements set forth herein including, but not limited to, any statements regarding our earnings, our liquidity, our tenants’ ability to pay rent to us, expected financial performance (including future cash flows associated with our joint venture or new tenants or the expansion of current properties), future dividends, interest rates or other financial items; any other statements concerning our plans, strategies, objectives and expectations for future operations and future portfolio occupancy rates, our pipeline of acquisition opportunities and expected acquisition activity, including the timing and/or successful completion of any acquisitions and expected rent receipts on these properties, our expected disposition activity, including the timing and/or successful completion of any dispositions and the expected use of proceeds therefrom, and any statements regarding future economic conditions or performance are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although the Company believes that the expectations, estimates and assumptions reflected in its forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of the Company’s forward-looking statements. Additional information concerning us and our business, including additional factors that could materially and adversely affect our financial results, include, without limitation, the risks described under Part I, Item 1A - Risk Factors, in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, and in our other filings with the SEC. You are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and undertakes no obligation, to update any forward-looking statement. About Chiron Chiron is a real estate investment trust ("REIT") focused on investing in the future of healthcare. At Chiron we strive to deliver value at the intersection of care, capital and real estate. Additional information about Chiron can be obtained on its website at www.chironre.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260805570916/en/ Contacts Investor Relations Email: [email protected] Phone: 202-524-6869

BETHESDA, Md., May 20, 2026--(BUSINESS WIRE)--Chiron Real Estate Inc. (NYSE: XRN) (the "Company" or "Chiron"), today announced the appointment of Charles Fitzgerald to the Company’s Board of Directors (the "Board"), effective as of May 20, 2026, and the declaration of the Company’s second quarter 2026 preferred dividends. Mr. Fitzgerald will serve as a member of the Board’s Compensation and Nominating and Corporate Governance Committees. Underscoring his strong alignment with shareholder interests, Mr. Fitzgerald holds 97,293 shares of Chiron common stock via affiliated entities, representing approximately $3.4 million of invested capital. Appointment of Charles Fitzgerald to the Board Mr. Fitzgerald, age 51, is the Founder and Managing Partner of Maewyn Capital Partners LLC. Prior to forming Maewyn, he was the Founder, Managing Partner and Co-Portfolio Manager of V3 Capital Management LP, and previously held senior investment roles at High Rise Capital Management, JP Morgan Fleming Asset Management and Prudential Real Estate Investors. Mr. Fitzgerald has nearly 30 years of experience investing across public and private real estate markets. He currently serves on the Board of Directors of FrontView REIT, Inc. (FVR) and on the board of Vibrant Emotional Health, a nonprofit focused on emotional wellness and the administrator of the national 988 Suicide & Crisis Lifeline. Mr. Fitzgerald holds a Bachelor of Arts in Finance and Economics from Northern State University and is a CFA charterholder. Lori Wittman, the Board’s Lead Independent Director, commented, "We are delighted to welcome Charles to the Board during this period of strategic transition. Charles brings a wealth of institutional knowledge, deep public REIT expertise, and sophisticated financial acumen that aligns perfectly with our commitment to rigorous board leadership. We look forward to working together to continue to propel the Company’s growth." Mark Decker Jr., the Company’s Chief Executive Officer and President, commented, "Charles is a highly respected figure in the real estate investment community, widely recognized for his disciplined approach to capital allocation and his deep, long-standing relationships with institutional investors. We believe that his owner-operator mindset will be an incredible asset as we accelerate our strategic initiatives and focus on driving sustainable, long-term total returns for our shareholders." Declaration of Second Quarter Preferred Stock Dividends Series A Preferred Stock Dividend. On May 20, 2026, the Board declared a $0.46875 per share cash dividend to holders of record as of July 15, 2026, of the Company’s Series A Preferred Stock, which will be paid on July 31, 2026. This dividend represents the Company’s quarterly dividend on its Series A Preferred Stock for the period from April 30, 2026 through July 30, 2026. Series B Preferred Stock Dividend. On May 20, 2026, the Board declared a $0.50 per share cash dividend to holders of record as of July 15, 2026, of the Company’s Series B Preferred Stock, which will be paid on July 31, 2026. This dividend represents the Company’s quarterly dividend on its Series B Preferred Stock for the period from April 30, 2026 through July 30, 2026. Forward-Looking Statements Certain statements contained herein may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and it is the Company’s intent that any such statements be protected by the safe harbor created thereby. These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "plan," "predict," "project," "will," "continue" and other similar terms and phrases, including references to assumptions and forecasts of future results. Except for historical information, the statements set forth herein including, but not limited to, any statements regarding our earnings, our liquidity, our tenants’ ability to pay rent to us, expected financial performance (including future cash flows associated with our joint venture or new tenants or the expansion of current properties), future dividends, interest rates or other financial items; any other statements concerning our plans, strategies, objectives and expectations for future operations and future portfolio occupancy rates, our pipeline of acquisition opportunities and expected acquisition activity, including the timing and/or successful completion of any acquisitions and expected rent receipts on these properties, our expected disposition activity, including the timing and/or successful completion of any dispositions and the expected use of proceeds therefrom, and any statements regarding future economic conditions or performance are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although the Company believes that the expectations, estimates and assumptions reflected in its forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of the Company’s forward-looking statements. Additional information concerning us and our business, including additional factors that could materially and adversely affect our financial results, include, without limitation, the risks described under Part I, Item 1A - Risk Factors, in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, and in our other filings with the SEC. You are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and undertakes no obligation, to update any forward-looking statement. About Chiron Chiron is a real estate investment trust ("REIT") focused on investing in the future of healthcare. At Chiron we strive to deliver value at the intersection of care, capital and real estate. Additional information about Chiron can be obtained on its website at www.chironre.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260520888953/en/ Contacts Investor Relations Email: [email protected] Phone: 202-524-6869

Image source: The Motley Fool. Thursday, May 7, 2026, at 9 a.m. ET Chief Executive Officer — Mark O. Decker Chief Financial Officer — Robert J. Kiernan Mark O. Decker: Thank you, Jamie, and good morning, everyone. The first quarter marks a pivotal moment for Chiron Real Estate Inc. as we thoughtfully reposition into a leading platform designed to deliver exceptional value to essential health care operators. While the company continued to perform across its existing outpatient medical portfolio, the more consequential development was the significant progress made in repositioning Chiron Real Estate Inc. for growth. The quality and pace of these investments reinforce our conviction that there is a great opportunity for a focused solutions-oriented capital provider capable of creativity and speed. Senior housing remains a highly fragmented and relationship-driven business, and Chiron Real Estate Inc. is establishing itself as a credible and constructive partner within that ecosystem. And this matters. Studies show that seniors in well-designed communities experience a 20% reduction in social isolation and a 15% increase in cognitive function. We envision Chiron Real Estate Inc. as a trusted partner to leading operators, driving innovation and setting new standards in the industry by focusing on evidence-based design and care models. We believe we can build something truly special. Following the transactions announced last night, Chiron Real Estate Inc. will have over 25% of our asset value in senior housing operating properties or SHOP, representing a substantial advancement of the plans we announced in February. We believe this transition improves Chiron Real Estate Inc.’s relevance within the health care delivery universe, positively altering our long-term earnings growth profile, portfolio quality and opportunity set. Over time, these elements will result in a better business that should support a stronger and more differentiated cost of capital. We published updated investor materials last night that provide additional detail on each of the announced investments, but I would like to briefly highlight our strategic rationale. Our key criteria when evaluating senior housing investments are the operator, market and real estate. Beginning with the operating team, our partners on each of these investments will be Silverstone Senior Living, the original developer and asset manager, and Greystone, which will continue as the operator. Preserving continuity across development ownership and operations was an important consideration for us. We believe maintaining an aligned and experienced team optimizes resident and associate experience, lease-up execution and long-term financial performance. Our evaluation of these opportunities began in January when dialogue with Silverstone revealed an opportunity to solve a capital structure issue. Silverstone had developed two exceptional communities in Potomac Yards, but the existing ownership was split between two institutions, jeopardizing the best outcome due to fund life challenges and evolving strategic priorities. Chiron Real Estate Inc. was able to provide a permanent capital solution that aligns and consolidates these communities while preserving the operating platform that is thriving. The first of these communities, the Landing, features 163 luxury homes that offer independent, assisted and memory care living. The Landing achieved occupancy stabilization in 2025 and is now approaching financial stabilization through the burn-off of lease-up concessions. Situated across the shared courtyard on the same land parcel is the Riviera, a newly delivered 129-home luxury independent living community that opened in March of 2026 and is now in the early stages of lease-up. Together, the Landing and Riviera comprise a vibrant community of 292 highly differentiated senior homes in one of the most affluent and supply-constrained submarkets in the Washington, D.C. metro. From a financial perspective, the pairing is particularly attractive because the communities sit at opposite ends of the maturation curve. The Landing is entering stabilized cash flow while the Riviera is beginning lease-up. This creates a natural internal earnings progression over the next several years. We underwrote both communities to stabilized yields in excess of 7% using untrended rents. This basis implies the assets have potential to deliver a double-digit unlevered return, and we believe the long-term durability of demand is supported by favorable household wealth characteristics, strong home values and a very limited forward development pipeline. Chiron Real Estate Inc.’s ability to execute efficiently as capital partner with Silverstone and Greystone earned us the opportunity to expand our relationship and acquire the Pinnacle, a 175-home luxury senior housing community currently nearing completion of construction in North Bethesda, directly across from Federal Realty’s Pike & Rose, one of the strongest mixed-use destinations in the region. Because the community remains under construction, our contract provides flexibility around closing timing this fall with anticipated settlement windows from August to November. As with the Riviera and Landing, we believe that the Pinnacle sits in an exceptionally attractive demographic pocket characterized by high household income, strong barriers to entry and limited competing supply. It is exactly the type of highly desirable and relevant senior housing that we believe will form the foundation of Chiron Real Estate Inc.’s long-term growth strategy. Given the magnitude of our portfolio transition, the Board has made the decision to reduce the monthly distribution to a new annual run rate of $1.92 per share or $0.16 per month, starting with the July payment. While current income remains an important part of our value proposition to shareholders, we believe retained cash flow represents one of our most valuable internal sources of equity. This change provides Chiron Real Estate Inc. with $15 million in additional capital per year, which alongside capital recycling gives us an ability to self-fund accretive investments and better control the pace of our strategic evolution. This is a capital allocation decision. In the current environment, every dollar retained and deployed into growth investments has the potential to create more long-term value than every dollar distributed, all without relying on equity capital markets. Private market transactions continue to highlight our recycling opportunity. While Chiron Real Estate Inc.’s current share price implies a cap rate of 9%, recent comparable transactions, specifically the Sila take-private and the NHP outpatient medical sale, have been executed at cap rates between 7.3% and 7.9%, a 100 to 150 basis point arbitrage. By prioritizing internal capital recycling and retained cash flow over common equity issuance at these levels, we are ensuring that the long-term value created by the execution of our strategic plan accrues directly to our existing shareholders. Next, I would like to talk about Maewyn Capital Partners’ $100 million strategic investment into Chiron Real Estate Inc. as this transaction provides us growth capital at an attractive price and more. Maewyn’s investment provides Chiron Real Estate Inc. with dedicated long-duration growth capital from a sponsor with deep public real estate experience and a singular focus on per-share value creation. Just as importantly, Charles Fitzgerald, Founder and Managing Partner at Maewyn, is expected to join Chiron Real Estate Inc.’s Board of Directors later this month. Charles brings nearly three decades of investing experience across listed real estate securities with a career built around valuation discipline, underwriting rigor and identifying opportunities that create alpha. As Chiron Real Estate Inc. transitions from a historically passive net lease owner into a more active capital recycling and external growth platform, that perspective becomes increasingly valuable. The next chapter of value creation for Chiron Real Estate Inc. will be determined by our ability to consistently allocate capital towards the highest risk-adjusted opportunities across acquisitions, dispositions, development funding and portfolio repositioning. We believe Charles’ addition to the Board strengthens that framework by adding an experienced shareholder lens. Charles knows this space well and shares our view that we can build something special. Best-in-class companies have demonstrated that superior long-term shareholder returns are created through active portfolio construction and disciplined capital deployment. Chiron Real Estate Inc. is building that capability. With Maewyn as both capital partner and Board-level strategic adviser, the company gains funding flexibility and an experienced external investor perspective. This also extends our ability to think like owners. On a fully diluted as-converted basis, over 20% of our company’s ownership is sitting around the Board table. Between Maewyn’s capital commitment and dispositions subject to LOI, Chiron Real Estate Inc. has approximately $300 million of capital sources to fund the roughly $425 million of identified investments. Because the $176 million Pinnacle closing is not anticipated until this fall, we do have some time to execute upon further outpatient medical sales to advance the portfolio transition. Together, all this means Chiron Real Estate Inc. has the assets, capital and investment alignment necessary to pursue this transition with greater speed, rigor and accountability to shareholder returns, and we are already moving fast, leading to a lot of progress in a very short period of time. I want to recognize the efforts of our team, Board, partners and counterparties in bringing these ideas into reality. Thank you all. I know you are listening. With that, I will turn it over to Bob to provide an update on first quarter operating performance across the portfolio. Robert J. Kiernan: Thanks, Mark. NAREIT-defined FFO per share and unit was $0.97 for the quarter. Core FFO was $1.11 per share and unit. Net debt to adjusted EBITDA was 6.6x for the quarter, a reduction of 0.4x from the first quarter of last year. Same-store cash NOI, which includes all assets owned by Chiron Real Estate Inc. for at least 15 months, increased 3.2% on a year-over-year basis. As we embark on the portfolio changes highlighted by Mark, we withdrew our 2026 earnings guidance. It is important to note that this change was not due to any negative event, but was done to better focus on our portfolio transition and building long-term shareholder value. As it relates to items like our cash and noncash G&A expenses as well as our capital expenditures included in FAD, our full-year expectations are in line with our previous communications. Mark, would you like to provide some closing thoughts? Mark O. Decker: Thanks, Bob. These announcements represent the beginning of Chiron Real Estate Inc.’s repositioning. The work ahead now centers on disciplined execution, lease-up performance, capital recycling and continued sourcing of investments that further enhance our ability to create value. Finally, I would like to thank Henry Cole and Ron Marston for their service as directors. They are both leaving the Board at our upcoming election. Our team appreciates the creativity, wisdom and care they brought to the boardroom, and we wish them the very best. And with that, operator, we will take questions. Thank you. Operator: We will now open the call for questions. [Operator Instructions] Your first question comes from John James Massocca from B. Riley. John James Massocca: So maybe going to the $450 million of investments, understanding capital recycling is part of this. You have the Maewyn preferred investments. Is there anything else you have out there or thoughts in mind to bridge the funding gap to fully pay for those investments over time? I am just curious if everything is going to be accounted for with some of your historical transaction activity, capital recycling and the Maewyn funds. Mark O. Decker: So just to make sure I understand the question, you are saying, do we have the funds for the $425 million we just announced? Or are you asking about something in the future? John James Massocca: Yes, just for the $425 million announced. Mark O. Decker: Yes. So we have a couple of hundred million under LOI. We talked last quarter about the IRF JV as well as the CHRISTUS asset in Beaumont, Texas. The IRFs are under LOI. They are not done yet. So that would be our most likely use of proceeds. The CHRISTUS ought to follow after that. And then between now and, I would say, November 1 at the latest, we will likely dispose of some other outpatient medical. And that would get you to leverage-neutral proceeds. John James Massocca: Okay. And going forward, as you look to grow the senior housing portfolio, where do you view Chiron Real Estate Inc.’s niche within that investment universe? Are you going to be primarily focused on early-stage development-type transactions? How do you expect to play in the larger universe of senior housing, especially given how competitive it can be with some of the larger REITs? Mark O. Decker: Where you are least likely to find us competing is in an auction. The way we are trying to be valuable and interesting to operators and developers is by being thoughtful and creative and listening well and trying to help them find solutions. If you are selling something and all you care about is cash, then it is simple. It is about who can pay the most, who can do it the fastest and who is the most certain. In many instances, we can compete well on those dynamics. But if you add any other variable, it starts to get complicated and you might be able to drive more value there or, by caring about that fourth or fifth thing that the seller cares about, you might be able to do something that other people cannot do. It is super situational. What we have done here with Silverstone is, in my mind, spectacular, and we are going to try to do more of these, but these are hard to do. If it is for sale, you just have to pay the most. We are trying not to just do that. We are trying to find ways where we can build relationships that are truly additive for both parties. We are seeking win-wins. I think there is a lot of room in the market for people that have capital, thoughtfulness and are actually interested in a long-term relationship and a win-win. We will compete on that basis, and I think we will win our fair share. John James Massocca: Okay. And then given some of the M&A activity you talked about earlier in the call and the overall asset sales, is there a plan for additional strategic dispositions of some of the historical assets as you look to transition the portfolio more towards senior housing? Would this be something you would sell in a granular fashion, or would you look to larger strategic transactions? Mark O. Decker: I am not trying to be coy, but we think of our outpatient medical as a strong performing store of value. To the extent we can find things that we think drive higher and better, higher-quality better-growing cash flows, we will trade out of them. That is the arbitrage that exists. In a perfect world, we actually get a cost of capital and we can externally grow like many of the other folks in our space, but we do not need that to effectuate a pretty powerful change in the portfolio. We have roughly $1.25 billion of capital to play with, if you will. Operator: Your next question comes from Wesley Keith Golladay from Baird. Wesley Keith Golladay: Can you talk about how you see leverage going over the next year? And where do you ultimately want to get to, understanding that these are stabilizing assets? Mark O. Decker: I will take the last one first. The ultimate goal would be investment-grade access to the bond market. We are too small for that, but from a metrics perspective, that is what we are after so that we always have a little bit of capacity. Specifically how that goes over the next 12 months really depends on what comes in front of us from an opportunity perspective. Wesley Keith Golladay: On the investment front, you had these unique opportunities that came your way. Do you still have a pipeline you are working on? Or do you want to digest these acquisitions for a little while and get the funding secured for these? Or do you keep going after it? Mark O. Decker: Both. Job one is to get these closed, integrate them and execute on the plan that we have underwritten and are excited about. But we can do more than one thing at once. We are always looking. There are many interesting things out there, and it is about finding good situations where we can sync up. We will absolutely continue to do that. But first things first, we have to do a good job with what we have. You do not get more stuff if you break the toys you have. Operator: Your last question comes from Gaurav Mehta from Alliance Global Partners. Gaurav Mehta: I wanted to ask you on the pending acquisitions. It seems like the three of them are in the D.C. metro area. Is that something by choice, or is that just the opportunity presented in that area? Mark O. Decker: I would say that is a happy coincidence. It feels good. That is a home game for us. We are based here in D.C. I am from this area, and so are many of the folks on our team. I would not say that was because we said we have to do the first thing in Washington. It worked out that way, and that probably helped us with more comfort with respect to specific submarkets and things like that, but we can underwrite things anywhere. Gaurav Mehta: Second question on dispositions. Outside of $200 million of pending asset sales, I think you also list $125 million of expected additional dispositions. Are those pending, or are those just target dispositions that can happen in the future? Mark O. Decker: Those are in the future. Gaurav Mehta: And then lastly, in the earnings deck, you point out long-term earnings growth of 6%. When should we expect your portfolio to get to that sort of long-term growth rate? Mark O. Decker: It really depends on what else comes up on the buy side and how we fund that. I would say our present trough is probably next quarter and we probably start to stabilize in 2027, 2028. As we said, I think we put it in our book, second half of 2028. So... Operator: [Operator Instructions] At this time, there are no further questions. I will turn the conference back over to Mr. Mark O. Decker. Mark O. Decker: Thanks, everybody. We appreciate the interest. If you are going to be at BMO’s conference next week, we hope to see you there. Otherwise, we will see you maybe at NAREIT in New York. Thanks, everybody. Operator: Ladies and gentlemen, this concludes your conference call for today. Thank you very much for your participation. You may now disconnect. Have a great day, everyone. Before you buy stock in Chiron Real Estate, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Chiron Real Estate wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Chiron (XRN) Q1 2026 Earnings Call Transcript was originally published by The Motley Fool

–Announces Contracts for Three Seniors Housing Communities for an Aggregate Purchase Price of $425 Million– –Announces $100 Million Strategic Equity Investment from Maewyn Capital Partners– –Announces Reduction in Monthly Dividend to Facilitate New Strategic and Growth Plans– BETHESDA, Md., May 06, 2026--(BUSINESS WIRE)--Chiron Real Estate Inc. (NYSE: XRN) (the "Company" or "Chiron"), today announced financial results for the three months ended March 31, 2026 and other data. Mark Decker, Jr., Chief Executive Officer and President stated, "Chiron is repositioning as a growth-oriented investor. Central to this transition is a disciplined capital allocation strategy aimed at recycling capital into investments with higher returns on invested capital. Our inaugural SHOP investments are a tremendous first step on this journey. We view today’s announcement of a $100 million growth equity investment led by Maewyn Capital Partners as an endorsement of this strategy and our underlying portfolio value. While working on these transformative transactions, the Company continued to produce stable results including same property NOI growth of 3.2%. I want to commend our team for their hard work." In conjunction with this release, the Company has posted an updated Investor Presentation to the Investor Relations section of its website. This presentation provides additional details on Chiron's transition to a growth-oriented healthcare REIT and enhanced capital allocation strategy. NOTE: All share and per share data have been adjusted for all periods presented to reflect the Company’s one-for-five reverse stock split that was effective September 19, 2025. First Quarter 2026 Highlights Reported quarterly net loss attributable to common stockholders of $0.7 million, or $0.06 per diluted share, as compared to net income of $2.1 million, or $0.16 per diluted share, in the comparable prior year period. Reported quarterly funds from operations attributable to common stockholders and noncontrolling interest ("FFO") of $0.97 per share and unit, as compared to $1.02 per share and unit in the comparable prior year period. Reported core funds from operations attributable to common stockholders and noncontrolling interest ("Core FFO") of $1.11 per share and unit, which was unchanged compared to the comparable prior year period. First quarter same-property cash net operating income ("Same-Property Cash NOI") growth was 3.2% on a year-over-year basis. Quarter-end portfolio leased occupancy was 95.4%. Recent Events On May 1, 2026, the Company signed purchase agreements (subject to customary closing conditions) for two newly constructed luxury seniors housing communities located within the affluent Potomac Yard submarket of Alexandria, Virginia for an aggregate purchase price of $249 million. The assets will be operated as a unified campus offering a full continuum of care spanning independent living, assisted living, and memory care – driving meaningful operating synergies and a superior resident experience. It is anticipated that these acquisitions will close in the second quarter. Both communities will be managed as seniors housing operating properties (SHOP) and are expected to deliver a double-digit unlevered IRR. On May 6, 2026, the Company signed a purchase agreement (subject to customary closing conditions) for a newly constructed luxury senior housing community located in North Bethesda, Maryland for a purchase price of approximately $176 million. This luxury asset, located adjacent to Pike & Rose, a premier mixed-use development, offers residents a full continuum of care across a mix of independent living, assisted living, and memory care housing. It is anticipated that this acquisition will close in the fourth quarter. This community will be managed as a SHOP and is expected to deliver a double-digit unlevered IRR. On May 6, 2026, the Company entered into a $100 million delayed-draw, convertible preferred equity facility with affiliates of Maewyn Capital Partners ("Maewyn"), pursuant to which Maewyn will invest up to $100 million in the Company’s new 6.00% Series C Convertible Preferred Stock (subject to certain closing conditions), with an initial conversion price of $43.00 per share of common stock. In connection with this investment, Mr. Charles Fitzgerald, managing partner of Maewyn, will be appointed to our Board of Directors following the Company’s 2026 annual stockholders’ meeting on May 20, 2026. For additional information on each of these recent events, please refer to the Company’s separate press releases. Other Events Entered into a Master Note and Guaranty Agreement with affiliates of New York Life (collectively, the "Purchasers") that established an uncommitted senior unsecured note facility pursuant to which the Company may issue senior unsecured promissory notes from time to time in one or more series to the Purchasers in an aggregate principal amount of up to $150 million. As of March 31, 2026, no notes had been issued or were outstanding under the Master Note and Guaranty Agreement. As of May 5, 2026, the Company’s tenant at its White Rock facility in Dallas, Texas continued its Chapter 11 bankruptcy reorganization. Since the date of its bankruptcy filing through May 5, 2026, the tenant remains current in its rent obligations to us. As previously announced, the Company invested $7.1 million for a 49% interest in a joint venture with a developer to facilitate the development of a 132-unit, active adult residential community in a suburb of Minneapolis, Minnesota. In connection with its establishment, the joint venture entered into a construction loan with a principal balance of $31.0 million. Portfolio Update At quarter end, the Company’s portfolio was comprised of: 5.1 million leasable square feet, $115.3 million of annualized Cash NOI, Weighted average lease term ("WALT") of 5.1 years, Weighted average annual base rent escalations of 2.1%, and 95.4% leased occupancy rate. Balance Sheet and Capital At March 31, 2026, consolidated debt outstanding, including borrowings on the credit facility and notes payable (both net of unamortized debt issuance costs), was $663.4 million and the Company’s leverage was 44.7% of total gross assets compared to 44.4% as of December 31, 2025. As of March 31, 2026, the Company’s total debt carried a weighted average interest rate of 3.6% and a weighted average remaining term of 3.9 years, with 74% fixed rate debt. The Company has no debt maturities in 2026 or 2027. As of May 5, 2026, the Company’s borrowing capacity under the credit facility was $220.5 million. 2026 Guidance and Common Dividends 2026 Guidance As we move into an active phase of asset sales, acquisitions, and capital redeployment, we believe short-term earnings guidance becomes an increasingly poor proxy for underlying value creation. Rather than anchor investors to short-term volatility, management has elected to withdraw 2026 guidance and focus squarely on executing the portfolio transition and building long-term per-share value and earnings power. Please refer to our investor presentation to see information regarding key metrics for 2026 as well as our longer-term strategic priorities. Common Dividend Modification The Company is evolving from a yield-focused REIT into an active growth platform. Given the transformation we are resizing our dividend to focus on retaining cash flow and to accelerate the Company’s acquisition strategy and accelerate the ramp of its SHOP portfolio. On May 5, 2026, the Board of Directors (the "Board") declared a monthly common stock cash dividend of $0.16 per share for each of July, August and September of 2026, representing quarterly cash dividends totaling $0.48 per share. Details of the dividend are contained in the table below: This compares to $0.25 per share for April, May and June 2026, and represents an approximate 36% reduction. Supplemental Information Details regarding these results can be found in the Company’s supplemental financial package available on the Investor Relations section of the Company’s website at http://www.chironre.com/investor/investor-overview/default.aspx. Conference Call and Webcast Information The Company will host a live webcast and conference call on Thursday, May 7, 2026 at 9:00 a.m. Eastern Time. The webcast is located on the "Investor Relations" section of the Company’s website at http://www.chironre.com/investor/investor-overview/default.aspx. To Participate via Telephone: Dial in at least five minutes prior to start time and reference Chiron Real Estate Inc. Dial in numbers: 1-800-717-1738 or 1-646-307-1865 Replay: An audio replay of the conference call will be posted on the Company’s website. Non-GAAP Financial Measures General Management considers certain non-GAAP financial measures to be useful supplemental measures of the Company's operating performance. For the Company, non-GAAP measures consist of Funds From Operations attributable to common stockholders and noncontrolling interest ("FFO"), Core FFO (formerly Adjusted Funds From Operations), Funds Available For Distribution attributable to common stockholders and noncontrolling interest ("FAD"), Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate ("EBITDAre" and "Adjusted EBITDAre"), Net Operating Income ("NOI"), Cash NOI and Same-Property Cash NOI. A non-GAAP financial measure is generally defined as one that purports to measure financial performance, financial position or cash flows, but excludes or includes amounts that would not be so adjusted in the most comparable measure determined in accordance with GAAP. The Company reports non-GAAP financial measures because these measures are observed by management to also be among the most predominant measures used by the REIT industry and by industry analysts to evaluate REITs. For these reasons, management deems it appropriate to disclose and discuss these non-GAAP financial measures. The non-GAAP financial measures presented herein are not necessarily identical to those presented by other real estate companies due to the fact that not all real estate companies use the same definitions. These measures should not be considered as alternatives to net income, as indicators of the Company's financial performance, or as alternatives to cash flow from operating activities as measures of the Company's liquidity, nor are these measures necessarily indicative of sufficient cash flow to fund all of the Company's needs. Management believes that in order to facilitate a clear understanding of the Company's historical consolidated operating results, these measures should be examined in conjunction with net income and cash flows from operations as presented elsewhere herein. FFO and Core FFO FFO and Core FFO are non-GAAP financial measures within the meaning of the rules of the United States Securities and Exchange Commission ("SEC"). The Company considers FFO and Core FFO to be important supplemental measures of its operating performance and believes FFO is frequently used by securities analysts, investors, and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results. In accordance with the National Association of Real Estate Investment Trusts’ ("NAREIT") definition, FFO means net income or loss computed in accordance with GAAP before noncontrolling interests of holders of OP units and LTIP units, excluding gains (or losses) from sales of property and extraordinary items, property impairment losses, less preferred stock dividends, plus real estate-related depreciation and amortization (excluding amortization of debt issuance costs and the amortization of above and below market leases), and after adjustments for unconsolidated partnerships and joint ventures calculated to reflect FFO on the same basis. Because FFO excludes real estate-related depreciation and amortization (other than amortization of debt issuance costs and above and below market lease amortization expense), the Company believes that FFO provides a performance measure that, when compared period-over-period, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, development activities and interest costs, providing perspective not immediately apparent from the closest GAAP measurement, net income or loss. Core FFO is a non-GAAP measure used by many investors and analysts to measure a real estate company’s operating performance by removing the effect of items that do not reflect ongoing property operations. Management calculates Core FFO by modifying the NAREIT computation of FFO by adjusting it for certain cash and non-cash items and certain recurring and non-recurring items. For the Company these items include: (a) recurring acquisition and disposition costs, (b) loss on the extinguishment of debt, (c) recurring straight line deferred rental revenue, (d) recurring stock-based compensation expense, (e) recurring amortization of above and below market leases, (f) recurring amortization of debt issuance costs, (g) severance and transition related expense, (h) reverse stock split expense and (i) other items related to unconsolidated partnerships and joint ventures. Management believes that reporting Core FFO in addition to FFO is a useful supplemental measure for the investment community to use when evaluating the operating performance of the Company on a comparative basis. FAD We calculate FAD by subtracting from Core FFO capital expenditures, including tenant improvements, and leasing commissions. Management believes FAD is useful in analyzing the portion of cash flow that is available for distribution to stockholders and unitholders. Investors, analysts and the Company utilize FAD as an indicator of common dividend potential. The FAD payout ratio, which represents annual distributions to common stockholders and unitholders expressed as a percentage of FAD, facilitates the comparison of dividend coverage between REITs. EBITDAre and Adjusted EBITDAre We calculate EBITDAre in accordance with standards established by NAREIT and define EBITDAre as net income or loss computed in accordance with GAAP plus depreciation and amortization, interest expense, gain or loss on the sale of investment properties, property impairment losses, and adjustments for unconsolidated partnerships and joint ventures to reflect EBITDAre on the same basis, as applicable. We define Adjusted EBITDAre as EBITDAre plus loss on extinguishment of debt, non-cash stock compensation expense, non-cash intangible amortization related to above and below market leases, severance and transition related expense, reverse stock split expense, transaction expense, adjustments related to our investments in unconsolidated joint ventures, and other normalizing items. Management considers EBITDAre and Adjusted EBITDAre important measures because they provide additional information to allow management, investors, and our current and potential creditors to evaluate and compare our core operating results and our ability to service debt. NOI, Cash NOI and Same-Property Cash NOI We consider net operating income, or NOI, to be an appropriate supplemental measure to net income because it helps both investors and management understand the core operations of our properties. We define NOI as total net (loss) income, plus depreciation and amortization expenses, general and administrative expenses, transaction expenses, impairments, gain/loss on sale of real estate, interest expense, and other non-operating items. Cash NOI and Same-Property Cash NOI are key performance indicators. Management considers these to be supplemental measures that allow investors, analysts and Company management to measure unlevered property-level cash operating results. The Company defines Cash NOI as NOI excluding non-cash items such as above and below market lease intangibles and straight-line rent. Cash NOI is historical and not necessarily indicative of future results. Same-Property Cash NOI compares Cash NOI for stabilized properties. Stabilized properties are properties that have been included in operations for the duration of the year-over-year comparison period presented. Accordingly, stabilized properties exclude properties that were recently acquired or disposed of, properties classified as held for sale, properties undergoing redevelopment, and newly redeveloped or developed properties. Same-Property Cash NOI also excludes lease terminations fees and joint venture and other income in order to remove non-recurring items and joint venture-related income from our NOI. Forward-Looking Statements Certain statements contained herein may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and it is the Company’s intent that any such statements be protected by the safe harbor created thereby. These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "plan," "predict," "project," "will," "continue" and other similar terms and phrases, including references to assumptions and forecasts of future results. Except for historical information, the statements set forth herein including, but not limited to, any statements regarding our earnings, our liquidity, our tenants’ ability to pay rent to us, expected financial performance (including future cash flows associated with our joint venture or new tenants or the expansion of current properties), 2026 Core FFO guidance, future dividends, interest rates or other financial items; any other statements concerning our plans, strategies, objectives and expectations for future operations and future portfolio occupancy rates, our pipeline of acquisition opportunities and expected acquisition activity, including the timing and/or successful completion of any acquisitions and expected rent receipts on these properties, our expected disposition activity, including the timing and/or successful completion of any dispositions and the expected use of proceeds therefrom, and any statements regarding future economic conditions or performance are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although the Company believes that the expectations, estimates and assumptions reflected in its forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of the Company’s forward-looking statements. Additional information concerning us and our business, including additional factors that could materially and adversely affect our financial results, include, without limitation, the risks described under Part I, Item 1A - Risk Factors, in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, and in our other filings with the SEC. You are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and undertakes no obligation, to update any forward-looking statement. About Chiron Chiron is a real estate investment trust ("REIT") focused on investing in the future of healthcare. At Chiron we strive to deliver value at the intersection of care, capital and real estate. Additional information about Chiron can be obtained on its website at www.chironre.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260506552982/en/ Contacts Investor Relations Email: [email protected] Phone: 202-524-6869