#1A VENTAS Executing a Winning Strategy to Drive Long-Term Shareholder Value April 2022#2Executive Summary Track Record of Superior Long-Term TSR Outperformance, Despite Severe and Ongoing Impact of the COVID-19 Pandemic Strong, Independent and Uniquely Qualified Board to Oversee Continued Positive Momentum Land & Buildings' Campaign Not in Best Interest of All Shareholders A VENTASⓇ Over our 20+ year history, Ventas has become one of the world's foremost REITs and an accomplished S&P 500 company; we have curated a diversified, high-quality portfolio of >1,200 senior housing, life science, medical office and other healthcare properties We have a demonstrated track record of disciplined, forward-thinking capital allocation decisions and shifting our portfolio to the most attractive areas of healthcare real estate Ventas has delivered TSR of 23% YTD through March 25, 2022, building on the company's exceptional long-term annualized TSR of over 20% since December 31, 1999 The pandemic presented a once-in-a-lifetime challenge for our business, which is nearly half comprised of senior housing; we responded to the crisis by prioritizing the safety of our 75,000 senior residents, supporting care providers and protecting our balance sheet We also took a number of operational actions to position Ventas to capitalize on the senior housing industry recovery now underway; while the pandemic continues to affect our business, we have posted operating performance in-line with or ahead of that of our largest competitor The Ventas Board is composed of highly accomplished directors that collectively oversee our strategy, growth and capital allocation Ongoing refreshment process demonstrated by appointment of four new independent directors in the last three years, with each addition enhancing our targeted skillsets; longstanding commitment to Board diversity, with 45% of directors female or ethnically diverse and two of three core committees to be chaired by women following the 2022 Annual Meeting Board has overseen robust, multi-year shareholder engagement program, including evolving investor relations and executive compensation program to incorporate feedback Industry leader in ESG, with best-in-class governance and sustainability programs and target of reaching net zero by 2040 The Board evaluated the candidacy of Jonathan Litt alongside that of other individuals as part of our recent Board refreshment process; we determined that Mr. Litt does not possess a skillset that would enhance the Board, and he did not compare favorably to other candidates that the Board considered Land & Buildings has offered no substantive ideas for Ventas and only owns 0.2% of our shares; it is singularly focused on securing Board representation for Mr. Litt, not advancing the best interests of all shareholders 2#3Ventas Snapshot & Pandemic Performance A VENTASⓇ#4Ventas Is a Leader in Healthcare and Real Estate Ventas is an S&P 500 company and one of the world's foremost REITs; we operate at the intersection of two powerful and dynamic industries healthcare and real estate A VENTASⓇ Our team has a 20+ year track record and today oversees a diversified portfolio of over 1,200 properties Medical Office Buildings Life Science, Research and Innovation Centers Senior Housing Communities ■ 47% of Portfolio (1) ~75,000 seniors ■ >50,000 front-line workers Providing quality of life for seniors in independent living, assisted living and memory care facilities Avria SENIOR LIVING BROOKDALE SENIOR LIVING SUNRISE 22% of Portfolio(1) " ~14,000 providers ■ ~27 million patient visits annually ■ Supporting nation's leading not-for- profit and for-profit healthcare systems, physicians and patients +AdvocateAurora Health Bon secours ASSISTED LIVING* MERCY HEALTH ASCENSION Sutter Health Providence St. Joseph Health ■ 10% of Portfolio(1) ■ >17 top-tier research universities ■ 5 of top 6 life science clusters Cutting edge research to advance treatments and cures for clinical conditions Hospitals and Other Healthcare Facilities 19% of Portfolio(1) ■>6,500 beds ■ >1.5 million patient days annually ■ Serving critical health care needs, including COVID care 20+ Years of Operation >1,200 Properties 20%+ UCDAVIS JOHNS HOPKINS UNIVERSITY A SNAPSHOT OF SUCCESS (2) Annualized TSR Since December 31, 1999(3) 28M Square Foot Office Portfolio(4) Yale Penn UNIVERSITY of PENNSLVANIA Drexel UNIVERSITY Washington University in St. Louis $37.5B Enterprise Value >$5B Assets Under Management in the Ventas Investment Management (VIM) Platform Ardent HEALTH SERVICES Kindred BBB+ Credit Rating $3.7B 2021 Investment Activity Reflects portfolio concentration based on Annualized Adjusted NOI as of December 31, 2021, which represents an annualized result of a period's Reported Segment NOI excluding (i) Reported Segment NOI not attributable to owned real estate or loan investments, (ii) Reported Segment NOI related to the non-controlling interest of consolidated real estate entities and (iii) the annualizing impact of certain non-recurring or out-of-period items, and including (x) the effects of transactions and events that were completed during the period, as if the transaction or event had been consummated at the beginning of the relevant period, (y) the expected leased-up impact of recently completed developments and (z) Ventas's share of Annualized Adjusted NOI related to nonconsolidated real estate entities. Information as of March 25, 2022. Represents the period beginning December 31, 1999 and ending March 25, 2022. Ventas stock price adjusted historically for spin-off of Care Capital Properties, Inc. on August 17, 2015. (1) 234 (2) (3) (4) Inclusive of Life Science, R&I developments underway. 4#5Ventas Owns a Superior, Better Positioned Portfolio of Assets, Cultivated Over Two Decades of Thoughtful Capital Allocation A VENTAS* 2015 to Today Expansion in Health Systems Ardent Health Services in 2015 Ardent™ HEALTH SERVICES 2016 to Today Entered Life Science, Research & Innovation Acquired university-affiliated Life Science assets of Wexford in 2016 Subsequent growth, including through GIC JV and VIM third- party capital platform Delivered $2-3B in value creation WEXFORD SCIENCE+TECHNOLOGY . • • 2022 & Onwards Capitalizing on Post COVID-19 Recovery Robust senior housing demand expected External growth momentum expected $1.1B of Life Science, R&I and Le Groupe Maurice developments underway • 1999 to 2009 Restructure, Diversify & Grow Our Portfolio Navigated bankruptcy of our sole tenant; market capitalization of <$200M in March 2000 Added SHOP, Senior Housing NNN, Medical Office Buildings and Loans Kindred Healthcare SUNRISE SENIOR LIVING BROOKDALE Late 2000s to Today Significant Expansion in Medical Office Buildings Acquired Lillibridge Healthcare Services in 2010 Continued to grow in MOBS in subsequent years, driving ~$2.5B in value creation LILLIBRIDGE SENIOR LIVING A VENTAS COMPANY • Late 2000s to Today Continued Growth In Senior Housing Ongoing investment in Senior Housing, pivoting toward independent living Acquired Atria Senior Living in 2011, Le Groupe Maurice in 2019 and New Senior in 2021 Stria SENIOR LIVING LEGROUPE MAURICE New Senior Investment Group 2015 Exit of Skilled Nursing . Exited our skilled nursing • Acquired hospital leader facility portfolio via 2015 spin- off of CCP at attractive valuation Care Capital Properties" 2015-Present: Portfolio Transformation (1) Q1 2015 18% Medical Office 7% IRFS and LTACs 1% Other 4% Loans (1) Reflects portfolio concentration based on Annualized Adjusted NOI. 29% Senior Housing Operating 24% Senior Housing- NNN 18% Skilled Nursing 10% Life Science, Research & Innovation (R&I) 22% Medical Office 9% IRFS and LTACs 8% Health Systems 31% Senior Housing Operating Q4 2021 16% Senior Housing- NNN 2% Loans 1% Skilled Nursing 1% International Hospitals 5#6Pandemic Presented a Life-and-Death Challenge for Ventas's 75,000 Senior Residents U.S. Seven-Day Avg. COVID-19 Impact A VENTAS* Initial Waves 900 Cases - Deaths 800 700 600 Cases (000s) gg 400 500 300 200 100 Vaccine Rollout Delta Omicron 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 0 Jan-20 Jun-20 Nov-20 May-21 Oct-21 Mar-22 Source: Company materials, FactSet and Centers for Disease Control as of March 25, 2022. Deaths Actions Taken By Ventas ■ Prioritized health and safety for 75,000 elderly residents and their caregivers in senior housing communities, as well as physicians, patients, doctors, nurses, employees, tenants and partners ☐ Sourced scarce personal protective equipment (PPE) early in the pandemic ▪ Partnered with Mayo Clinic to provide free COVID testing for seniors and caregivers; have administered 200,000+ tests to date Supported rapid roll-out of vaccines in our senior living communities commencing in January 2021 ■ Provided space in MOBS for COVID clinical uses, in partnership with hospitals ■ Served as an industry advocate with CMS and HHS, resulting in financial support for senior living communities at a time of immense pressure on the industry 6#7Outsized Impact of COVID-19 on Our Senior Housing Business, With Impact Persisting to Today SHOP Quarterly NOI ($M) (1) Reflects 4Q21 comparable pool of 353 assets Total includes HHS funds SHOP Monthly Occupancy Reflects 4Q21 comparable pool of 353 assets 90.0% $80 Pandemic Impact A VENTAS® Ventas Stock Price Pandemic Impact $160 $156 88.2% 85.0% $119 $107 $105 $30 $95 $93 $12 $85 $84 80.0% $2 $63 $60 $58 $40 $20 Ventas's share price dropped 73% at the $17 start of the pandemic $63 75.0% $0 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 Jan-20 May-20 Oct-20 Feb-21 Jul-21 Dec-21 Jan-20 Jun-20 Nov-20 Apr-21 Oct-21 Mar-22 Pandemic Impact Source: (1) Company materials and FactSet as of March 25, 2022. A reconciliation of SHOP NOI to the most directly comparable GAAP measure is included on page 45 of this presentation 7#8Senior Housing and Skilled Nursing REITS Dramatically Affected by the Pandemic A VENTAS® Q4'19 to Q4'21 Change in Normalized FFO REITs with Significant Senior Housing / Skilled Nursing Portfolios Selected Other REIT Sub-Sectors Care Trust REIT OMEGA Healthcare INVESTORS, INC. SABRA HEALTH CARE REIT, INC. welltower (19%) (21%) A VENTAS (22%) LTC (23%) NHI (25%) NATIONAL HEALTH INVESTORS (1%) 15% Source: Company filings, Green Street and FactSet as of March 25, 2022. Note: Selected other REIT sub-sectors weighted by market capitalization as of March 25, 2022. Digital includes Tower and Data Center. Industrial Digital MOB/Life Science Apartment Strip Center Office (11%) (1%) (1%) 4% 17% 29% 8#9Ventas and Its Largest Competitor Experienced Similar COVID Headwinds, With Ventas Leading the Rebound Indexed Normalized FFO per Share - 1Q16 to 4Q21(1) 1.10 1.00 0.90 0.70 A VENTAS welltower Ventas: $1.04 0.80 1Q16 Welltower: $1.13 4Q19 Ventas: $0.93 Welltower: $1.05 0.60 4Q21 Ventas: $0.73 Welltower: $0.83 ◉ 0.50 0.40 1Q16 4Q16 4Q17 4Q18 4Q19 4Q20 4Q21 Land & Buildings's FFO Analysis Land & Buildings mislabels its VTR-WELL 10-year FFO comparison as a "trailing" view but uses forward-looking 2022E consensus estimates, rather than 2021 actual results Land & Buildings also failed to account for Ventas' spin-off of Care Capital Properties (CCP) 2015 separation of $4.5bn enterprise value business; materially affects the base in the 10-year FFO comparison When correcting for these two errors, Ventas's normalized FFO per share has performed in-line with or ahead of Welltower during the period A VENTASⓇ Strong Recent SHOP Results 4Q21 Same-Store NOI Growth (2) 4Q21 vs. 3Q21 4Q21 vs. 4Q20 A VENTAS welltower VENTAS welltower (0.9%) (3.6%) (4.7%) (9.3%) Avg. Осс. 83.4% 77.9% 83.3% 77.9% - 20pp better over 10-year time horizon Occ A +200bps +90bps +110bps +140bps Virtually identical FFO per share path since Ventas's spin- off of CCP in 2015 Since pre-pandemic (Q4'19 to Q4'21), Ventas normalized FFO per share down (22%) vs. Welltower down (21%) Source: Company filings. (1) (2) Reflects Normalized FFO per Share as reported by each of Ventas and Welltower. A reconciliation of Normalized FFO per Share to the most directly comparable GAAP measure is included on page 46 of this presentation. Our definition of Normalized FFO per Share may not be comparable to similarly titled measurements reported by Welltower. Reflects supplemental same-store NOI, excluding HHS Grants. Ventas meaningfully outperformed Welltower in SHOP in Q4'21, with fundamentals inflecting upward as pandemic abates 9#10We Took Decisive Actions to Protect the Company During the Pandemic and Position It for Growth Thereafter Took necessary actions in 2020 to manage our business through a once-in-a-lifetime crisis in the senior housing industry... Dividend Reduction G&A Rationalization ■ Cut our dividend by 43% in June 2020 ■ Reduction in quarterly payout from $0.7925 to $0.45 preserved $130M in capital per quarter Today have the strongest dividend coverage among peers CapEx Reductions ■ In June 2020, carried out reduction in force affecting over 25% of corporate positions ■ Reduced executive base salaries by 10-20% in 2020 Savings of $30M in SG&A expense vs. 2019 baseline ...and in 2021 to position our business to participate in the powerful industry recovery now NNN Lease Restructurings Accessed the Debt Markets ■ Addressed ~90% of pre-pandemic senior housing NNN NOI through transitions, asset sales and lease reductions ■ Most notably, in July 2020 announced mutually agreeable lease modification with our largest tenant Brookdale, receiving $235M in consideration and upside benefits ■ To manage interest rate risk, Ventas raised over $1.1B in new bonds in the U.S. and Canada Including a 10-year offering with a coupon of 2.5%, the best 10-year healthcare REIT issuance in 2021 Issued $1.4B of equity in 2021 underway Raised Equity ■ Includes $0.6B under at-the-market equity offering program and $0.8B to shareholders of New Senior Investment Group, which we acquired in September 2021 Accessed the Debt Markets GIC Joint Venture Capital Recycling GIC Joint Venture Av VENTASⓇ ■ Proactively reduced 2020 capital expenditures by $0.3B to ~$0.5B, much of which was funded with committed financing ■ Raised $0.5B of senior notes and drew down revolving credit facility early in the pandemic ■ Credit facility was paid down in summer 2020 as capital markets stabilized ■ Announced in Nov. 2020 a joint venture with GIC, with Ventas contributing a $930M Research & Innovation development pipeline and GIC taking a 45% interest ■ ■ Structure increases diversification of capital sources while preserving majority ownership and upside participation In 2021, booked $1.2B in asset dispositions and loan repayments, enhancing our portfolio quality ■ Used proceeds to reduce near-term maturities by $1.1B ■ Continued to use our GIC joint venture to accelerate investment in value-creating Life Science investments ■ Numerous projects under development, including marquee $0.5B UC Davis project 10#11VENTASⓇ Ventas's Long-Term TSR Outperformance, With Recent TSR Leading the Recovery; In-Line Medium-Term TSR Impacted by Pandemic Av 2022 Year-to-Date One-Year Total Shareholder Return Three-Year Annualized Five-Year Annualized Ten-Year Annualized Since 1999 Annualized (1) Top performer of the 16 Outperformance driven One- YTD by strong senior housing constituents in the Nareit HC Index Year recovery currently Medium- Modest underperformance in medium-term periods driven by the severe and outsized impact of the Term COVID-19 pandemic on senior housing, which comprises roughly half of Ventas's portfolio Since 1999 underway +23% +21% I.I A VENTAS +5% Index +15% +8% +7% +7% +6% +4% +4% Exceeds Nareit HC Index, as well as MSCI U.S. REIT Index's annualized figure of 11% and S&P 500's 7% +20% +14% Nareit HC A VENTAS Nareit HC Index A VENTAS Nareit HC Index A VENTAS Nareit HC Index A VENTAS* Nareit HC Index A VENTAS Nareit HC Index Source: (1) FactSet as of March 25, 2022. Annualized TSR since December 31, 1999. 11#12Earnings Estimates vs Actual Results +$0.04 +$0.06 A VENTAS Normalized FFO per Share Performance vs. Consensus Normalized FFO per Share Performance vs. Guidance (1) +$0.08 +$0.10 +$0.02 +$0.01 +$0.03 +$0.02 +$0.02 II +$0.01 +$0.03 +$0.03 +$0.02 +$0.02 +$0.01 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 Source: Company filings and FactSet. (1) Reflects midpoint of final guidance range for each time period presented. Annual but not quarterly guidance provided in FY18 and FY19. Guidance not provided in FY20. Quarterly but not annual guidance provided in FY21. +$0.02 +$0.02 +$0.03 +$0.04 +$0.04 +$0.01 FY18 FY19 1Q'21 2Q'21 3Q'21 4Q'21 12#13Note: Analysts Recognize Our Progress and Momentum Ventas has the right team... "Ventas has a battle-tested management team, with a high-quality, diversified portfolio. As COVID fades, we have gained increased conviction in the senior housing recovery with accelerating demographic driven demand and moderate supply. External growth accretion should also improve with a stronger cost of capital." - BMO Capital Markets, 11 March 2022 ... taking the right actions... "The company shifted its portfolio recently, expanding MOB and Life Science assets, restructuring senior living, exiting skilled nursing and growing the third-party management business, all of which were enhanced by the $3.7 billion investments in 2021." - Stifel, 7 March 2022 Av VENTASⓇ and clearly communicating... "We are upgrading VTR... Our upgrade reflects our positive outlook on accelerating senior housing fundamentals. We like VTR's expanded disclosures and change to how it reports earnings (post market close)." - Bank of America, 11 March 2022 "While ultimately execution will be the main driver of performance going forward - we commend VTR on its improved disclosure and earnings release format, which will help the investment community better understand and analyze the business." ― Citi, 17 February 2022 to capture the upside of the market recovery and drive shareholder value "We continue to believe VTR is well positioned to benefit from the ongoing seniors housing recovery that should drive strong, accelerating earnings growth in 2022 and 2023 ... However, the seniors housing recovery should accelerate in the Spring / Summer offset by elevated operating expense pressures that should moderate in 2H22 and 2023." - RBC Capital Markets, 8 March 2022 "With estimates largely reset, we continue to see attractive upside in the stock (without needing to assume the multiple discount to peers returns to historical levels) through (1) improved pricing power and robust lead volumes; (2) lower contract labor usage/cost potentially serving as a deflationary offset to rising expenses; and (3) the fragmented industry continuing to provide accretive acquisition opportunities." - Baird, 15 December 2021 "We walked away from 4Q with greater conviction in SHOP's recovery with stronger-than-expected pricing helping offset agency cost pressures that should moderate." - BMO Capital Markets, 11 March 2022 "VTR is a longer-term value play on senior housing - with upside in its operating segment via REVPOR growth. This is balanced by ongoing strength in its life science segment and steady MOB business." - Mizuho, 20 January 2022 Permission to use quotations neither sought nor obtained. Emphasis in blue font added by Ventas. 13#14Ventas's Diversified Portfolio and Capital Allocation Track Record A VENTASⓇ#15Clearly Articulated Capital Allocation Priorities Our Leading Portfolio Provides Significant Opportunity for Growth $3.7B 2021 Announced $1.4B Investment Activity Ongoing development principally Senior Housing in Life Science, R&I and Canadian senior housing markets 70% of $3.7B 819 Communities ~$1B Forward pipeline of Life Science, R&I projects 47% Annualized Adjusted NOI Historical Acquisition Volume A VENTASⓇ Life Science, R&I 20% of $3.7B 43 Centers + Medical Office 10% of $3.7B 309 Buildings 10% Annualized Adjusted NOI 22% Annualized Adjusted NOI Strong Track Record of External Investment Experienced investments team, broad relationships and processes with long track record of significant external growth $12.0 $10.0 $8.0 $6.0 $4.0 $2.0 $- 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 >$3B Annual Average 2011-2021 6000 2021 15#16Track Record of Forward-Thinking Capital Allocation Decisions Exited SNFs at High Valuation to Invest in Life Science at Nascent Stage ■ Exited our skilled nursing facility (SNF) portfolio in 2015 via a spin-off before sector encountered turbulence in the late 2010s which persists to today Identified Life Science as a highly attractive white space for Ventas and, in 2016, acquired the university-affiliated assets of Wexford from Blackstone for $1.5B ☐ ■ Since then, we have delivered numerous marquee developments, entered key Life Science cluster markets and diversified our sources of capital through establishment of our JV with GIC and launch of VIM ■ Today Life Science is among the most sought-after areas in commercial real estate; we estimate we have created ~$2-3B of value for our shareholders Av Early Investment in MOBS VENTASⓇ ■ In the late 2000s, identified Medical Office Buildings (MOBs) as an attractive area for expansion; acquired Lillibridge Healthcare Services in 2010, step-changing our MOB portfolio from 59 to 154 assets ☐ Today Ventas owns 309 MOBs comprising 22% of NOI ■ Ventas has created ~$2.5B of value for our shareholders, with MOB values up 70% over the past decade; sector proved highly attractive in COVID given its stable and growing cash flows ☐ Strong outlook from aging population and as site of care continues to shift toward outpatient settings ☐ Strong Growth in Ventas Investment Management (VIM) Established in Q1'20, VIM is our platform for managing third-party capital with our enterprise-wide asset and property management teams ■ Ventas co-invests at least 20% in each private capital venture and receives an attractive stream of recurring management fees and promotes Anchored by our $3.3B AUM Life Science & Healthcare Real Estate Fund, which is focused on high quality, low cap rate assets in highly desirable cluster markets; despite pandemic-era launch, it is among the most successful first-time sponsor funds in real estate ■ Grown VIM AUM to > $5B today from $1.6B in Q1'20(1) ☐ Investment in Independent Living Top investment priority today is senior housing, which we believe is poised for a powerful post-pandemic recovery and will benefit from favorable demographics Continuing our ongoing strategy to tilt our portfolio toward Independent Living (IL), which has higher margins, lower labor intensity and a longer average length of stay; thesis recently proving out given severe economy-wide labor headwinds +27pp mix shift in our SHOP portfolio toward IL from Q2'19 to Q4'21, most notably through our acquisition of New Senior Investment Group for $2.3B in Sep. 2021 ■ Followed acquisition of Le Groupe Maurice for C$2.4B in Sep. 2019 Our capital allocation decisions continuously re-weight our portfolio to the most promising areas of healthcare real estate Source: Company materials and FactSet. (1) Includes unfunded commitments, developments underway and gross asset value. 16#17Senior Housing - Decisive Operational Actions Position Ventas A VENTAS* for Value Creation New Leadership Resolutions & Transitions ■ J. Justin Hutchens appointed as Executive Vice President, Senior Housing in March 2020 ■ Proven senior housing leader with operating experience and deep industry relationships ■ "Management laid out a game plan for improving senior housing performance...Mr. Hutchens has a strong background in operations... We believe this to be a solid addition at the right time." - Wells Fargo, 20 February 2020(1) Acquisitions & Developments ☐ Executed lease resolutions supporting mutually beneficial financial and operating terms ■ Transitioned various portfolios to new operators / management structures Dispositions ■ Acquired over 100 assets with favorable 300+ Assets 10+ Operators HOLIDAY RETIREMENT SINCERI Senior Living BROOKDALE SENIOR LIVING SOLUTIONS ~120 Assets 8 Operators ~$3B Acq. Volume ~5% Initial Yield ☐ New Senior Investment Group ■ Enhanced portfolio via completed sales of smaller scale, non-strategic assets Selectively pursuing sale of specific non- core communities 50+ Assets 10 Operators $620M Sold CONCORDIS market exposure and attractive physical characteristics ■ Partnered on several completed & in- ■ progress development projects with high- quality managers Emphasis on high margin, lower labor cost IL model with high occupancy ceiling and longer length of stay LEGROUPE MAURICE (1) Permission to use quotation neither sought nor obtained. HAWTHORN SENIOR LIVING/ Completed an array of portfolio-enhancing actions over the past two years SENIOR LIVING FRONTIER MANAGEMENT SRG SENIOR LIVING 17#18Senior Housing - Strongly Positioned Portfolio With Advantaged Assets and Operators in Attractive Markets J Advantaged Assets in High Barrier Markets¹ near premium ~90% retail or high 2.4x 1.5x -60% traffic locations² higher home value vs. U.S. average³ higher household income vs. U.S. average³ of SHOP Competitively Advantaged SHOP Assets 333 Atria West 86 New York, NY ☐ LGM La Cité des Tours Saint-Jean-sur-Richelieu, Quebec ☐ A VENTASⓇ Leading Stable of Senior Housing Operators Ventas has a diverse stable of 38 distinct senior housing operator/tenant relationships - Diversity of geography, product type, price point - Consistent communities per operator ratio with Welltower ☐ Anchored by best-in-class partners Atria Senior Living, Le Groupe Maurice and Sunrise Senior Living ■ Ann. Adj. NO 14 ~40% of SHOP by assets Holiday Birch Heights Derry, NH Capital Investment Strategy Underpinning Portfolio Quality Data-Driven Allocation Framework Granular submarket analytics inform investment decision making High-Impact Prioritization Customer-facing upgrades enhance overall community appeal, among resident & staff Sunrise at La Costa Carlsbad, CA Coordinated Project Execution Delivery supported by on-site visits, bespoke diligence and closer operator alignment Supported by regional operators with local market expertise and focus The Company has recently added new senior housing operators through acquisition and transition, including: - - - Through acquisition, added Hawthorn Senior Living, Watermark Retirement Communities, Grace Management and Merrill Gardens Senior Living Transitioned assets to Sinceri, Sodalis, Discovery Expanded relationships with Senior Lifestyle, Priority Life, and Sonida "Right Asset, Right Market, Right Operator TM" the foundation stone of portfolio and operator composition TM' Supported by Ventas Operational Insights ("Ventas OI™”): the data and operational analytics active asset management platform formally launched in 2022 T Note: (1) (2) (3) Reflects 4Q21 supplemental reporting owned asset scope. High barrier markets primarily reflect top coastal markets and Canada. Reflects U.S. scope only. Reflects median value for U.S. scope only. (4) Based on 4Q21 annualized adjusted NOI per supplemental reporting. 18#19Senior Housing - Supported by Favorable Demographic and Supply-Demand Fundamentals A VENTAS 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 U.S. 80+ population anticipated to grow by 17%+ through 2025 2017 2018 2019 2020 2021 21M U.S. 80+ population¹ 19M 5-Years Post 17M Financial Crisis 15M +7.5% growth 13M 11M 9M 7M 5M +17.4% growth 5-Years Post COVID 2022 2023 2024 2025 2026 2027 2028 2029 2030 Compelling Industry Supply and Demand Trends Senior housing new starts² SHOP unit mix by acuity ~32K Units ~62K Units 9% MC 17% 32% 51% AL +27% mix shift toward higher-margin IL portfolio IL 32% 2Q19 (Pro Forma) 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 1Q11 1Q12 Increased Exposure to Lower Labor, Higher-Margin IL Business and Strong Canadian Market³ 59% 4Q21 Note: Includes forward-looking statements within the meaning of the federal securities laws and is based on a number of assumptions that are subject to change and many of which are outside the control of the Company. Actual results may differ materially from the Company's expectations depending on factors discussed herein and in the Company's filings with the Securities and Exchange Commission. (1) Population estimates from the Organization for Economic Co-Operation and Development (OECD). (2) 4Q21 NIC Data for Top 99 (Primary and Secondary) Markets and for the Senior Housing sector. (3) Scope excludes sold assets, Assets Held for sale. 3Q12 1Q13 3Q13 1Q14 3Q14 1Q15 3Q15 1Q16 3Q16 1Q17 3Q17 (52%) from 4Q17 peak 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Supply levels remain depressed and significantly lower than prior 2017 peaks 1Q18 3Q18 1Q19 3Q19 1Q20 3Q20 1Q21 SHOP unit mix by country ~32K Units ~62K Units 86% US 75% 25% CAN 14% 2Q19 (Pro Forma) 4Q21 3Q21 +11% mix shift toward Canada, providing exposure to outsized population growth and high occupancy sector 19#20Note: (1) (2) (3) (4) Senior Housing - Early Stages of a Powerful Recovery Opportunity to Return to Previous NOI Level1 Reflects 4Q21 comparable pool of 353 assets $156M $296M annualized $90M $82M opportunity as of 4Q21 to return SHOP same-store NOI³ to pre-pandemic level 4Q19 4Q20 4Q21 Occupancy 80% -$100M Occupancy -88% -$900M ~$300M $520M 4Q21 Annualized ΝΟΙ SHOP Same-Store NOI Recovery Opportunity Reported 4Q21 NOI excluding HHS grants x 4 Annualized SHOP same- store NOI assuming return to 4Q19 levels 30.2% A Sizable NOI Margin Opportunity¹ Reflects 4Q21 comparable pool of 353 assets 19.7% 17.8% 4Q19 4Q20 4Q21 VENTASⓇ ~75% of SHOP same- store NOI loss driven by revenue deterioration; sizable margin improvement opportunity SHOP NOI Recapture Opportunity² Incremental Occupancy Growth Opportunity Above Pre-COVID Incremental SHOP NOI Opportunity from Previously Completed Transitions, Acquisitions & Developments Incremental SHOP NOI assuming these properties reach stabilized levels³ Post-COVID SHOP Portfolio NOI Recovery Opportunity Incremental growth potential from favorable supply/demand levels expected to be better than pre-COVID Opportunity for pricing to improve versus current strong levels as occupancy increases +400bps Additional potential occupancy growth to pre-COVID peak of ~92% +17.4% Expected U.S. 80+ population growth from 2020-2025 (52%) Lower construction starts4 in 4Q21 vs. previous peak in 4Q17 The Company's expectations regarding future performance constitutes forward-looking statements within the meaning of the federal securities laws and is based on a number of assumptions that are subject to change and many of which are outside the control of the Company. Actual results may differ materially from the Company's expectations depending on factors discussed herein and in the Company's filings with the Securities and Exchange Commission. Excludes HHS Grants. Excludes sold assets, assets held for sale and HHS Grants. Stabilized Transition, Acquisition and Development NOI levels reflect pre-COVID NOI for acquisition & transition properties and underwritten stabilized NOI for development properties. 4Q21 NIC Data for Top 99 (Primary and Secondary) Markets and for the Senior Housing sector. 20#21Medical Office (MOB) - Leading National Platform A VENTAS® ~18M sq. ft. of MOB space across 32 states, serving over 13,800 physicians and attracting more than 27M patient visits each year Ventas's Leading National Medical Office (MOB) Portfolio $374M Ann. Adj. ΝΟΙ (22% VTR) 311 MOBS 18M Outpatient Sq. Ft. -160 Hospital + 31 States Health System Affiliations Franciscan HEALTH Adventist HEALTH SYSTEM WELLSTAR. tenet HEALTH Piedmont HEALTHCARE Renown. HEALTH UnityPoint Health CA OR WA MT Northwestern Medicine 96% Affiliated with Health System or Hospital +AdvocateAurora Health CaroMont Health AMITA A HEALTH ALEXIAN BROTHERS HEALTH SYSTEM 88% 72% 220 Investment Grade Sq. Ft. On-Campus 200 SCENSION VINH Bon secours MERCY HEALTH ME NY MA RI CT PA NJ IN IL OH DE WV MD VA DC KY # Providence MEMORIAL HERMANN BalladHealth St. Joseph Health Sutter Health Community 08.CHS Health Systems Allina Health Historical Commercial Property Price Index¹ 180 160 140 ND MN WI MI SD WY IA NE NV UT CO KS MO TN OK AZ AR NM SC GA AL MS NC HONORHEALTH.M 120 100 40 86220 Early Entry into MOB Space (1) Penn Medicine Banner Health EMORY HEALTHCARE PeaceHealth CommonSpirit UPMC LIFE MultiCare Duke Health Texas Health Resources TX LA FL UnitedHealthcare Health Partners® THEDA CARE SHARP Henry Ford Trinity Health UNIVERSITY HEALTH CARE SYSTEM BaylorScott & White HEALTH HEALTH SYSTEM EMORY HEALTHCARE CHANGING Mercy SSMHealth. HCA CRUSH HEALTH, Historical Medical Office Commercial Property Price Index from Green Street Advisors; average of twelve months in respective year. 0 2005 2007 2009 2011 2013 2015 2017 2019 2021 VTR completed >$2.5B of MOB acquisitions between 2010 - 2012 21#22Life Science, Research & Innovation (R&I) - Exciting, Market- Leading Platform Supporting Major Research Universities Life Science Portfolio Now Spans 10M Sq. Ft... 10M Sq. Ft. Including Developments Underway - >17 Campuses 5 of Top 6 Top Tier Research Universities Life Science Clusters Life Science, R&I 4Q21 occupancy ending at 94% due to continued strong demand for life science space Previously announced $1B Life Science, R&I development pipeline, comprising 1.4M sq. ft. across five buildings affiliated with University of Pennsylvania, Drexel University, University of Pittsburgh and Arizona State University, which have been recently completed or are currently under construction and are 85% leased or committed ... Across Leading, Groundbreaking Institutions... JOHNS HOPKINS UNIVERSITY BROWN UCDAVIS Penn Yale UNIVERSITY of PENNSYLVANIA Duke Washington University in St. Louis University of University A VENTASⓇ ...With Excellent Tenant Credit % of Total Ann. Tenant Base Rent Credit Yale University 8% AAA Pittsburgh ASU Arizona State University of Pennsylvania 7% AA+ Wake Forest University 7% AA Brown University 4% AA+ Remaining Tenants 74% 100% 10M UCDAVIS SF UNIVERSITY OF CALIFORNIA Substantially all Ventas university partners are leaders in their fields and in the 95th percentile of NIH funding Total Life Science SF 10,000 9,000 8,000 7,000 6,000 5,000 4,000 Care Capital Properties WEXFORD SCIENCE+TECHNOLOGY 7.0% cap rate 3,000 2,000 1,000 6.75% cap rate Kindred Healthcare 4220 Duncan ASU 1030 Mass Establish Ventas Fund #GIC Pitt Phase I SSF Portfolio 0 2015 2016 2017 2018 2019 2020 2021 JOHNS HOPKINS UNIVERSITY 22 22#23Strong, Independent and Uniquely Qualified Board to Oversee Continued Momentum A VENTASⓇ#24Experienced and Diverse Board • A range of tenures, balancing continuity with A VENTAS® • • fresh perspectives Strong healthcare, real estate/REIT, finance and public policy experience Robust ongoing board refreshment, board development and effective director succession planning process 4 independent directors added within the last 3 years 45% of the board is diverse by gender or ethnicity Committed to transparency: providing diversity information in addition to skills and experience Gender & Ethnic Diversity Age Ethnically Diverse 45% Diverse Women Independence 91% Independent Tenure 10 Independent Non-Independent 1 5 4 <1-5 years 8 years >5-15 years 60.4 years 50s avg. >15 years avg. age 60s tenure 6 6 Board level oversight of Corporate Responsibility, ESG and Human Capital Management 24 24#25Ongoing and Thoughtful Board and Committee Refreshment A VENTAS Four New Independent Directors Appointed in the Last Three Years Replacing Three Retiring Directors Sean Nolan Marguerite Nader Maurice Smith Life Sciences REITS Healthcare Michael Embler Investor 2018 2019 Glenn Rufrano retirement 2020 2021 2022 Richard Gilchrist retirement to retire Jay Gellert at 2022 AGM Recent Committee Chair Actions Matthew Lustig as new Chair of Investment Committee in 2021 Roxanne Martino as new Chair of Compensation Committee in 2021 Melody Barnes as new Chair of Nominating and Corporate Governance Committee as of 2022 AGM 45 25#26Appointment of Michael Embler Demonstrates the Board's Rigorous Process A VENTAS® 26 26 Building on Board's ongoing multi-year refreshment process: Board continued its regular refreshment in late 2021 and early 2022 Identified candidates with assistance from Korn Ferry, a leading, nationally recognized third-party director search firm Process featured consideration of 20+ candidates; 6 candidates reached the interview stage Board's criteria focused on candidates with: ☐ Public company institutional investing experience ☐ Significant public company board experience Healthcare sector experience ☐ REIT sector experience ☐ ESG experience Michael Embler fits identified criteria: ✓ 20-year career as institutional investor (CIO of Franklin Mutual Advisers overseeing $85B in AUM) ✓ Proven track record serving on boards of publicly traded companies (20+ years public board experience and has served on 8 public boards) ✓ Prior experience within healthcare (director at Kindred Healthcare, healthcare company specializing in long term acute care hospitals, inpatient rehab facilities and behavioral health hospitals) ✓ Prior experience investing in REITS (Franklin Mutual) and as REIT director (Taubman Centers) ✓ Certification in Environmental Conservation and Sustainability from Earth Institute Center for Environmental Sustainability#27Uniquely Qualified and Diverse Board.... 圓 Debra Cafaro (CEO: 1999 - Present; Chair: 2003 - Present) • Ventas's Chair and CEO, where she has led the Company's transformation into one of the world's foremost REITS with diversified portfolio of over 1,200 properties and 20%+ annualized TSR since 1999 Six-time honoree in Harvard Business Review's CEO 100 and Modern Healthcare's 100 Most Influential People in Healthcare • 23 years of Public Board Experience • . • Current Other Public Co. Directorships: PNC Financial Services Group (NYSE: PNC) Matthew Lustig (2011) • Substantial experience as a strategic and financial advisor and leader in the real estate industry, currently serving as Chairman of Investment Banking, North America at Lazard, where he also serves as Head of Real Estate & Lodging, a position he has held for more than 30 years Previously served as CEO of real estate investment business of Lazard and its successors, overseeing multiple funds, including Lazard Senior Housing Partners, with over $2.5B of equity capital invested in REITS and real estate operating companies, and as Chairman of Atria Senior Living Group, which was acquired by Ventas in 2011 11 Years of Public Board Experience • Current Other Public Co. Directorships: Boston Properties, Inc. (NYSE:BXP) Sean Nolan (2019) • • . • Nearly 30 years of experience in life sciences industry as a public company executive, operator and serial entrepreneur, including as CEO of AveXis (NYSE: AVXS), which he grew from four employees to a fully integrated global public company with research, clinical, regulatory, manufacturing and commercial that was ultimately sold to Novartis for $8.7B Currently Executive Chairman of the Board of Jaguar Gene Therapy, LCC and President of Nolan Capital, LLC, a private investment firm 7 Years of Public Board Experience Current Other Public Co. Directorships: Taysha Gene Therapies (NASDAQ: TSHA) and Social Capital Suvretta Holdings Corp. II (NASDAQ: DNAB) ⚫ Other Public Co. Directorships in Past 5 Years: Neoleukin Therapeutics (NASDAQ: NLTX), Aquinox Pharmaceuticals (NASDAQ: AQXP) James Shelton (2008) Independent Presiding Director • • . Experienced healthcare executive with wealth of expertise in hospitals, MOBS and other care settings, as well as a proven leader and public company board director, contributing to his important role as Ventas's Independent Presiding Director Delivered TSR far outpacing S&P 500 returns as non-executive Chairman of Omnicare, where he took necessary and decisive steps to optimize performance including management changes, and as CEO & Chairman of the Board of Triad Hospitals 14 Years of Public Board Experience • Other Public Co. Directorships in Past 5 Years: Envision Healthcare (NYSE: EVHC) (as of 2022 AGM) Melody Barnes (2014) Accomplished governance and public policy expert, currently serving as Executive Director of the University of Virginia's Karsh Institute of Democracy, W.L. Lyons Brown Family Director for Policy and Public Engagement at Democracy Initiative, J. Wilson Newman Professor of Governance at the Miller Center and Distinguished Fellow at the University of Virginia School of Law • Former Assistant to the President & Director of White House Domestic Policy Council under President Barack Obama, advising the President on and negotiated for the Health Care and Education Reconciliation Act ⚫ 7 Years of Public Board Experience • Current Other Public Co. Directorships: Booz Allen Hamilton (NYSE: BAH) Roxanne Martino (2016) • Extensive institutional investment experience as former CEO and Investment Committee Chairperson of Aurora Investment Management, where she managed over $14B in AUM Currently Managing Partner of Ocean M19, a private investment firm • Inducted into the InvestHedge Hall of Fame and recognized as one of "50 Leading Women in Hedge Funds" by the Hedge Fund Journal • Healthcare experience serving as Chairperson of the Board of the Ann & Robert H. Lurie Children's Hospital, one of the top-ranked pediatric acute care and research hospitals in the U.S. • 6 Years of Public Board Experience Walter Rakowich (2016) . Extensive experience as a seasoned and accomplished REIT executive and finance professional, including as former CEO of Prologis (NYSE: PLD), the leading owner, operator and developer of industrial real estate, where he led a dramatic turnaround of the company and the $17B merger of Prologis with AMB Property Corporation ⚫17 Years of Public Board Experience • Current Other Public Co. Directorships: Host Hotels & Resorts (NYSE: HST) and Iron Mountain Incorporated (NYSE: IRM) Maurice Smith (2021) • Over 25 years of experience in fiscal, strategic and operations leadership in the health insurance industry, including as the current President and CEO of Health Care Service Corp., fifth largest health insurer in the U.S., with annual revenues in excess of $45B, more than 24,000 employees and covering over 16 million individuals across its Blue Cross and Blue Shield plans in five states, including Illinois and Texas • Recognized as one of Modern Healthcare's 100 Most Influential People in Healthcare in 2020 and 2021 • 1 Year of Public Board Experience Legend O • Michael Embler (2022) • • A VENTASⓇ 20-year career as accomplished institutional investor, including as Former CIO of Franklin Mutual Advisers, where he oversaw over $85B in AUM and 25 investment professionals More than 20 Years of Public Board Experience Certification in Environmental Conservation and Sustainability from Earth Institute Center for Environmental Sustainability and in Cybersecurity Oversight from the National Association of Corporate Directors Current Other Public Co. Directorships: American Airlines (NASDAQ: AAL) and NMI Holdings (NASDAQ: NMIH) Other Public Co. Directorships in Past 5 Years: Taubman Centers (NYSE: TCO) Marguerite Nader (2020) • Over 20-year track record as an accomplished REIT executive, currently serving as President and CEO of Equity LifeStyle Properties, Inc., NYSE-listed REIT that owns and operates over 400 high quality resort communities across the U.S. and Canada • Current Chair of Nareit, the leading industry organization for REITs and other publicly traded real estate companies ⚫ 9 Years of Public Board Experience • Current Other Public Co. Directorships: Equity LifeStyle Properties (NYSE: ELS) • • Other Public Co. Directorships in Past 5 Years: Liberty Property Trust (NYSE: LPT) Robert Reed (2008) Accomplished hospital system executive and finance professional, including as former SVP and CFO of Sutter Health, a family of not-for-profit hospitals and physicians' organization and investment banker specializing in healthcare finance for hospital systems at various national financing firms, including Eastdil and Paine Webber • Member of the National Board of Advisors of U.C. Davis Health, a major academic medical center owned and operated by the University of California 14 Years of Public Board Experience • Audit and Compliance Committee Compensation Committee Executive Committee Investment Committee Nominating and Corporate Governance Committee Chair of Committee Reflects the Board's director nominees with committee assignments expected to take effect following the 2022 Annual Meeting of Shareholders 27#28... With Right Mix of Expertise and Experience to Drive Ventas Forward A VENTAS Debra Cafaro James Shelton Melody Barnes Michael Embler Matthew Lustig Roxanne Marguerite Martino Nader Sean Nolan Walter Rakowich Robert Reed Executive Experience (CEO) ✓ ✓ ✓ Maurice Smith ✓ 888 Financial/Accounting Experience REITS/Real Estate ✓ ✓ ✓ T Healthcare, Senior Housing & Health Systems Life Sciences, Research & Innovation Investment & Capital Allocation Capital Intensive Industry Public Company Executive Compensation Public Policy & Regulation Technology/Cybersecurity ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ Education, Communication & Brand Sales & Marketing ✓ سليت ✓ ✓ xx Strategic Planning ✓ Investor Experience and Perspective ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ Risk Management ✓ 28#29Commitment to High Standards of Corporate Governance Drives Alignment and Accountability Jo Shareholder Accountability Annually elected directors • • • • Majority voting for uncontested director elections Shareholders' right to act by Written Consent Proxy access Board Independence ⚫ All directors except one management director (CEO) are • independent Independent Presiding Director 100% independent key governance committees Director Commitment Overboarding policy (no more than two additional public company boards for directors who are executive officers of public companies (including Ventas's CEO) and four additional public company boards for all other directors) Audit Committee overboarding policy (no more than two additional public company Audit Committees) ($ OQQ A VENTAS* Alignment with Shareholder Interests. • • Annual director equity grants that vest over two years Board-level oversight of corporate responsibility, ESG and human capital management Robust Shareholder Engagement Board-led shareholder engagement program, including with top 50 shareholders to engage in dialogue Diversity, Refreshment & Tenure • Four new Board members appointed since 2019 45% of Board are women or people of color Two of the Board's three core committees will be chaired by women as of the upcoming Annual Meeting Mandatory retirement age (75) Rigorous Self-Evaluation Process The Board and each of its committees conduct annual self- evaluations related to their performance to provide feedback and assess Board, committee and director performance 29 29#30Compensation Aligned with Shareholder Experience FY21 NEO Compensation Program Summary Component Format Base Salary Fixed payments, generally targeted to approximate the market median of peer group A VENTAS® Percentage of FY21 Total Target Compensation¹ CEO/Other NEOS 8-17% Compensation program motivates value creation Pay mix emphasizes pay-for-performance link More than 90% of CEO's target pay and 80% of other NEOS' target pay is variable and at risk FY21 annual incentive program comprised of two half-year performance periods to support an agile response to the pandemic FY22 annual incentive program is shifting to 60% weighting for financial objectives, closer to the 65% in place prior to the pandemic Program aligns with shareholder experience and is responsive to shareholder feedback Three-year realized pay for all NEOs significantly below target No payout for the 2019-2021 performance shares, primarily tied to TSR metrics Negative discretion applied to reduce FY20 and FY21 annual incentive payouts to align with shareholder experience FY22 target compensation reduction for the CEO by 14% and for the CFO and CIO by 8% in response to shareholder feedback Annual Cash Incentive First Half 2021 20% Balance Sheet 10% Senior Housing 10% Internal Culture 10% Investment Second Half 2021 10% Balance Sheet 10% Senior Housing 10% Internal Culture 10% Dispositions 15-25% Management 10% New Senior Closing & Integration Individual performance weighted 50% Long-Term Incentive CEO/Other NEOs Payouts based on 3-year performance against rigorous targets: 70%/60% Performance RSUs TSR Relative to the MSCI U.S. REIT Index R&I Pipeline Openings² DE&I² 25/29% 25/29% TSR Relative to FTSE Nareit Equity Health Care Index 20/17% Net Debt to EBITDA² 10/8% 20/17% 58-77% 30% 40% Restricted Stock Units Vest over 3 years Source: Company filings. (1) Excludes 2021 one-time equity retention awards made to named executive officers other than our CEO, which are not part of our regular annual compensation program (2) Our Net Debt to EBITDA Ratio, R&I Pipeline Openings and Diversity, Equity and Inclusion goals are confidential to us and competitively sensitive and therefore are not disclosed 30 30#31Board and Management Have Strong Track Record of Shareholder Engagement and Incorporating Feedback 2021 SHAREHOLDER ENGAGEMENT A VENTAS* RECENT ENHANCEMENTS IMPLEMENTED FOLLOWING SHAREHOLDER FEEDBACK Shareholders Contacted Shareholders Engaged Director Participation 70% Outstanding Shares 23% Outstanding Shares 100% Shareholder Meetings Robust, multi-year board-led shareholder engagement program: • • Compensation Committee Chair leads proactive outreach to top 50 shareholders, representing ~70% of outstanding shares at least biannually Executive officers, investor relations and other members of senior management also speak with hundreds of investors annually in variety of settings and formats. Board and management seek to better understand shareholder perspectives and gather feedback, while providing visibility and transparency into business, performance and priorities Additional disclosure on earnings measures, including on normalized FFO and other unique items Tactical IR enhancements improving earnings communications Reduced FY22 target compensation for the CEO by 14% and for the CFO and CIO by 8% in response to shareholder feedback Enhanced disclosures in FY22 Proxy Statement regarding assessment of individual executive performance and process for establishing performance metrics for incentive compensation plans Adopted performance metrics in long-term incentive compensation plan for several years related to diversity, equity & inclusion, a practice that continues to be rare among the S&P 500 31#32Building on Our ESG Leadership A VENTASⓇ#33REIT Industry ESG Leader 10 Years of voluntary ESG frameworks reporting energy CDP ENERGY STAR Formerly the Carbon Disclosure Project • одо PERFORMANCE Engaging tenants, residents & operators ⚫ ESG due diligence conducted for: - acquisitions and dispositions - developments and major redevelopments - selection of operators and partners • Tenant satisfaction above Kingsley benchmark • Advocating for the health and safety of our Senior Living residents GRES B Formerly the Global Real Estate Sustainability Benchmark = II Bloomberg Gender-Equality Index S&P Global Corporate Sustainability Assessment Bloomberg UN GLOBA COMPACT A Av A VENTAS GRI Sustainable Decisions Global Reporting Initiative TCFD TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES Task Force on Climate- Related Financial Disclosures U.S. GREEN BUILDING LEED USGBC COUNCIL U.S. Green Building Council PLANET Net zero operational carbon by 2040 • • Builds on our validated Science Based Target to reduce 30% Scope 1 & 2 carbon by 2030 13.5% decrease in absolute carbon emissions since 2018 • Invested over $60M in energy efficiency upgrades since 2018 at 15% return on investment #1 listed healthcare REIT by GRESB for 5th consecutive year T PEOPLE Commitment to DE&I • DE&I Committee to advance diversity across all aspects of our business, including our talent, our investments and our communities Exceeded our gender diversity goals - > 25% women in leadership > 30% women on our Board Aim to increase the minimum wage for full- time employees to $17/hour by 2024 Conduct annual employee engagement surveys in addition to regular pulse surveys ESG Scorecard Tracks Our Performance Against Sustainability Targets We Set For Ourselves 33#34Committed to Sustainable Practice Across Every Aspect of Our Business Sustainability Considerations in Our Operations Responsible Development Building certifications such as LEED Av VENTASⓇ Committed to environmentally and socially responsible development in collaboration with our operating partners. 100% Commitment to achieve LEED Silver or better on all new R&I developments 100% Commitment to evaluate LEED feasibility for ALL new developments <10% of NOI from properties in high flood risk areas and ENERGY STAR Energy efficient lighting and HVAC equipment Building electrification Responsible Partnerships ENERGY STAR appliances • Low-E window glass We conduct a thorough ESG review of our partnerships covering human capital management, labor relations, managing resident satisfaction, IT security and infrastructure, environmental impact, marketing practices and other non-financial factors White/green roofs Renewable energy procurement EV charging stations Solar panels Water-efficient plumbing fixtures Smart irrigation systems Supporting Tenants, Residents and Operators Tenant Satisfaction Work with the Kingsley Survey, an independent third-party firm, to conduct annual satisfaction surveys across our Office portfolio. Resident Satisfaction Surveys help us to evaluate senior housing provider strength and performance Substantially all of our senior housing communities conduct regular satisfaction surveys 34 54#35Reducing Environmental Impact and Ensuring Portfolio is Resilient Against Climate-Related Risks Av COMMITTED TO ACHIEVING NET-ZERO OPERATIONAL CARBON EMISSIONS BY 2040 Energy Efficiency Committed to develop net-zero carbon-aligned energy efficiency goals by property type by 2025 Electrification VENTASⓇ The pledge exceeds and complements Ventas's validated Science-Based Targets initiative goal to decrease carbon emissions by 30% by 2030 EMISSIONS Capital investment in efficient lighting, HVAC and other technologies ENERGY Renewable Energy Committed to achieve 60% renewable energy procurement by 2030 and 100% by 2035 WATER Direct and indirect renewable energy procurement and on- site generation WASTE 20% of our portfolio is Green Building certified (including Energy Star and LEED) 20201 Changes from 2019 361,023 4.9% MTCO2e 22 MWh/1,000 SF ↓5.7% 144 cubic meters/1,000 SF ↓2.6% 48% assets with recycling ↑4% (1) Results shown above reflect year-over-year progress within our environmental control boundary ("in-boundary"), which is -60% of our total owned portfolio by square feet, excluding developments. Emissions shown above are Scopes 1+2, measured on an absolute basis. Energy and water shown above are for the 2019-2020 in-boundary same-store pool (note that this is not progress against our goal, which is measured for our total in-boundary portfolio). The recycling percent shown above is for our total in-boundary portfolio. Additional details can be found on our website. 55 35#36Steadfast Commitment to Actively Promoting DE&I ALL EMPLOYEES 53% MALE ○ SENIOR MANAGEMENT 47% FEMALE A VENTASⓇ Established a multi-disciplinary DE&I Committee headed by Chairman & CEO tasked with creating positive change across our company Quantify DE&I activities and initiatives already underway Determine near- and long-term action items Research DE&I best practices Identify performance measures to evaluate effectiveness of programs and initiative 68% MALE MANAGER AND ABOVE 51% MALE as of December 31, 2021 32% GOAL FEMALE Maintain 50:50 gender balance between male and female employees across our organization (+/-5%) TARGET DATE STATUS ONGOING ACHIEVED 2020 & 2021 2020 2021 PERFORMANCE As of December 31, 2021, 47% of Ventas employees identified as female Maintain or exceed 30% women on our Board of Directors ONGOING ACHIEVED 2020 & 2021 49% FEMALE Achieve 25% female representation on our Senior Leadership team by 2023 2023 ON TRACK NEW Develop a Diversity, Equity & Inclusion Framework FIRST HALF OF 2021 ACHIEVED Our Board of Directors is currently 36% female, with four female board members As of June 30, 2021, 21% of Ventas Senior Leadership identified as female We developed a four-pillar framework to drive lasting change throughout our company, our industry, our communities and the country 36#37Consistently Recognized for ESG Leadership Av VENTASⓇ Named to the Bloomberg Gender Equality Index (GEI) for the third consecutive year Bloomberg Gender-Equality Index 2022 Awarded Nareit's Healthcare Leader in the Light for the fifth consecutive year and sixth time overall Nareit Leader in the Light 2021 Award Winner Achieved CDP's "A List" for tackling climate change (recognizing top 2% of global companies scored) CDP DISCLOSURE INSIGHT ACTION A LIST 2021 CLIMATE Selected to the DJSI World Index for the third year (recognizing the top 10% of global companies) Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA #1 Listed Healthcare REIT in GRESB Real Estate Assessment since 2017 A GRES B REAL ESTATE Sector Leader 2021 Awarded Silver in Nareit's 2021 Diversity, Equity & Inclusion Recognition Awards Named ENERGY STAR® Partner of the Year for 2021 Named a Founding Diversity Partner for the Real Estate Executive Council's diversity initiative Nareit Diversity, Equity & Inclusion Recognition Awards energy ENERGY STAR PARTNER REEC 37#38Land & Buildings' Campaign Not in Best Interest of All Shareholders A VENTASⓇ#39We Thoroughly Evaluated Mr. Litt and Determined He Did Not Meet the Standards for Board Service Relevant Skills Institutional Investment Experience Public Company Board Service Healthcare or Public Policy Experience Operational REIT Experience ESG Expertise Select Credentials of Ventas Directors Michael Embler: Oversaw $85B in AUM and 25 investment professionals Roxanne Martino: Managed $14B+ in AUM; inducted into InvestHedge Hall of Fame and recognized as one of "50 Leading Women in Hedge Funds" Matthew Lustig: Oversaw multiple funds, including Lazard Senior Housing Partners, with $2.5B+ of equity capital invested in REITs and real estate operating companies Average -12 years of service on public company Boards Melody Barnes: Accomplished governance and public policy expert; advised President Obama on and negotiated for the Health Care and Education Reconciliation Act Michael Embler: Director at Kindred Healthcare, a healthcare company specializing in long term acute care hospitals, inpatient rehabilitation facilities and behavioral health hospitals ⚫ Denny Shelton: Experienced healthcare executive and director with wealth of expertise in hospitals, medical office buildings and other care settings Maurice Smith: CEO of 5th largest health insurer in the U.S.; recognized as one of Modern Healthcare's 100 Most Influential People in Healthcare in 2020 and 2021 Sean Nolan: ~30 years of experience in life sciences industry as public company executive, operator and serial entrepreneur; CEO of AveXis when sold for $8.7B Robert Reed: Accomplished hospital system executive and finance professional Maguerite Nader: 20+-year track record as an accomplished REIT executive; Current Nareit Chair Walter Rakowich: Extensive experience as seasoned and accomplished REIT executive and finance professional; led a dramatic turnaround at Prologis and the $17B merger with AMB Multiple directors with ESG expertise A VENTAS® X Mr. Litt's Credentials Manages a small hedge fund with a five-person team; no clarity into fund's return track record Currently on zero public company Boards Served for 1 year at Taubman Centers after second proxy fight; asked by other directors to not stand for re-election Served for ~2 years at Mack Cali following appointment as part of settlement agreement No healthcare industry experience (including senior living) No public policy experience Land & Buildings ran a prolonged and unsuccessful campaign at Brookdale Senior Living; won no board seats and incurred meaningful loss on its investment No operational REIT experience Limited direct experience in leasing, development, acquisitions, capital markets or other critical aspects of a REIT's operations None 39 39#40Since Campaign Began In November 2021, L&B Has Offered No Substantive Ideas to Drive Value For All Ventas Shareholders A VENTAS® Nov. 24 L&B counsel requests copy of director nomination questionnaire with no engagement during prior months Mr. Litt emails Debra Cafaro requesting meeting Ms. Cafaro responds and schedules meeting Nov. 30 Company provides requested director questionnaire Late November L&B moves shares into record position Dec 1 Ms. Cafaro and Bob Probst, CFO, hold call with Mr. Litt; Ventas asks for suggestions Mr. Litt did not raise any substantive or strategic recommendations, other than his joining the Board Dec 10 L&B submits formal nomination notice naming two directors - Mr. Litt and Ms. Applebaum, a retired steel and metals analyst Dec 15 Ventas offers to enter into confidentiality agreement to engage in potential settlement discussions ☑L&B refused to enter a confidentiality agreement Nov 2021 Dec 2021 Jan 7 & 10 NCG Committee interviews Mr. Litt Mr. Litt was asked to provide references and never did so Jan 11 Board informs Mr. Litt that neither L&B candidates meet the Ventas Board's standards Jan 19 Ventas attempts to continue constructive dialogue with Mr. Litt, including settlement proposal: a) Providing Mr. Litt access to the Company to provide perspectives and views b) Seeking L&B input on Company's ongoing Board enhancement and succession planning processes c) Reviewing scope of responsibilities of Board's Investment Committee ☑After learning that Mr. Litt would not be immediately appointed to the Ventas Board, L&B declared an 'impasse' and ceased further engagement Jan 2022 Nearly one month passed, from late January to late February L&B did not make attempt to engage following Ventas's settlement proposal Feb 24 Notwithstanding Mr. Litt's silence, Ms. Cafaro once again reaches out to Mr. Litt reiterating willingness to continue discussions March 6 L&B leaks info to WSJ about Mr. Litt's efforts to secure a board seat at Ventas. WSJ article published March 7 ☑Coinciding with the beginning of the Citi conference, L&B issues a press release and files a preliminary proxy nominating Mr. Litt; discloses ownership position of ~0.2% L&B withdraws second nominee, Michelle Applebaum from slate March 14 Ventas files its preliminary proxy March 29 Ventas issues a press release, mails letter to shareholders and files its definitive proxy L&B files a definitive proxy nominating Mr. Litt and mails letter to Ventas shareholders Feb 2022 Mar 2022 40 40#41Land & Buildings is Not Acting in the Best Interest of Shareholders A VENTAS L&B abruptly changed course with respect to its initial nomination of Michelle Applebaum... ☑ Board determined Ms. Applebaum, a retired steel industry sell-side analyst, did not meet Board's qualifications Ms. Applebaum is a repeat L&B nominee ☑ ... and L&B has proposed NO new ideas for Ventas, and its criticisms are already being addressed... Investor communications Capital allocation Shareholder engagement ✓ Implemented significant IR and disclosure enhancements following shareholder feedback Additional disclosures underway Long track record of disciplined and successful capital allocation, including $3.7B of strategic investments in 2021 Took senior housing actions, led by Justin Hutchens, including enhancing analytical capabilities, implementing Right Asset, Right Market, Right Operator TM strategy ☑ Senior housing portfolio now positioned to capitalize on post-COVID recovery, including demographic tailwinds and limited supply ✓ L&B itself emphasized that Ventas has a “superior, better positioned portfolio" as compared to Welltower and that Ventas is “positioned to benefit from strong demographics"¹ which can only be the result of Ventas's capital allocation decisions Ventas attempted to engage constructively with L&B over several months Robust, multi-year engagement program with many shareholders ✓ Regular proactive outreach to top 50 shareholders, representing -70% of outstanding shares (1) Land & Buildings Presentation 4/6/22 41#42Land & Buildings Has Chosen to Target Our Presiding Director Denny Shelton, an Accomplished Healthcare Executive A VENTAS® • James D. Shelton – Background & Credentials Joined the Ventas Board in March 2008 and has served as Presiding Director since May 2016 - Member of the Compensation and Nominating and Corporate Governance Committees Served as Chair of Nominating and Corporate Governance Committee, driving strong board refreshment, governance practices and ESG leadership, as well as board self-evaluation processes as Presiding Director In the Ventas boardroom, Shelton brings a wealth of expertise on hospitals, medical office buildings and other care settings, which collectively comprise 41% of our NOI Best-in-class network of relationships in the highly complex healthcare ecosystem, including with many of Ventas's tenants Served as non-executive Chairman (2010-15) and interim CEO (2010-11) at Omnicare, as well as Chairman and CEO of Triad Hospitals (1999-2007) Previously was President of multiple groups of Columbia/HCA Healthcare (now HCA) and, before that, Executive Vice President of National Medical Enterprises (now Tenet Healthcare) Triad Hospitals - Governance & Value Creation Case Study Shelton led Triad Hospitals as Chairman and CEO from its 1999 spin-off from HCA, through its acquisition of Quorum Health Group in 2000 until its 2007 sale In 2007, Triad received a $4.7bn buyout offer from Goldman Sachs and CCMP; shortly thereafter, Community Health Systems topped the bid, paying $5.1bn in a deal that created the largest publicly traded U.S. hospital system Triad Hospitals delivered TSR of 321% from its 1999 spin-off through sale, outpacing the S&P 500's 28% Omnicare - Governance & Value Creation Case Study In 2008, Shelton was elected to the Board of Omnicare, a provider of pharmaceutical services to elder-care facilities Shelton was tapped as Interim CEO in July 2010; following appointment of a permanent CEO in December 2010, Shelton was appointed non-executive Chairman In this role, Shelton took necessary steps to optimize performance; oversaw numerous management changes, including two CEO transitions Served in this role until Omnicare was acquired by CVS Health in 2015 for $12.7bn Omnicare delivered TSR of 305% during Shelton's tenure as non-executive Chairman, far outpacing the S&P 500's 84% Source: Company materials and FactSet. 42#43Right Plan, Right Team to Drive Shareholder Value Ventas Has a Track Record of Portfolio Actions and Sustainable Value Creation Av VENTASⓇ Support Ventas's Strong, Independent and Uniquely Qualified Board to Oversee Continued Momentum YOUR VOTE IS IMPORTANT! Vote on the WHITE Proxy Card FOR Ventas's Proposals 1 Elect All 11 of Ventas's Director Nominees 2 Approve Say-on-Pay Proposal 3 Approve 2022 Incentive Plan 4 Ratify Auditors 43#44Appendix A VENTASⓇ#45SHOP Quarterly NOI - Trailing 9 Quarter Comparable Pool of 353 assets In thousands, except per share amounts; dollars in USD; totals may not add due to rounding 2019 Q4 2020 Q1 Q2 Q3 Q4 A VENTAS* 2021 Q1 Q2 Q3 Q4 == Net income (loss) income attributable to common stockholders Adjustments: Interest and other income 11,443 $ 473,117 $ (157,170) 12,751 $ 110,451 $ (57,209) $ 86,391 $ 60,680 $ (40,854) (875) (4,853) (1,540) (572) (644) (341) Interest expense Depreciation and amortization General, administrative and professional fees Loss on extinguishment of debt, net Transaction expenses and deal costs Allowance on loans receivable and investments Other 116,707 348,910 116,696 123,132 115,505 114,208 110,767 248,837 349,594 249,366 261,966 314,148 (585) 110,051 250,700 (417) 108,816 (13,466) 110,455 313,596 318,959 39,621 40,460 28,080 32,081 29,537 40,309 30,588 30,259 28,602 39 7,386 3,405 27,090 (74) 29,792 2,491 4,151 8,218 6,586 11,325 3,683 4,617 721 22,662 19,318 29,655 4,999 (10,416) (8,902) (59) (60) (61) (6,309) 5,783 5,286 5,681 (16,043) (9,428) (13,490) 33,673 26,355 (Income) loss from unconsolidated entities (167) 10,876 5,850 (865) (17,705) 250 (4,767) (2,772) 2,306 Gain on real estate dispositions (1,389) (226,225) (1,254) (12,622) (22,117) (2,533) (41,258) (150,292) (24,705) Income tax expense (benefit) 694 (149,016) 56,356 (3,195) (679) 2,153 Net income attributable to noncontrolling interests 1,450 Reported segment NOI 514,275 1,613 525,506 (2,065) 442,510 986 422,826 1,502 1,811 457,148 422,732 3,641 1,897 423,756 3,780 (4,747) 2,094 1,749 451,811 426,402 Adjustments: Triple-Net reported segment NOI Office reported segment NOI Non-segment NOI Reported Senior Housing Operating Segment NOI Adjustments: Cash NOI not included in comparable pool (184,596) (143,664) (23,308) 162,707 (188,531) (170,965) (150,738) (162,871) (145,336) (133,887) (133,325) (136,827) (25,000) (20,907) (20,094) (21,020) 166,639 116,751 118,669 136,430 111,139 (155,060) (154,791) (178,111) (135,236) (137,320) (137,622) (21,615) (20,506) 110,821 (150,526) (133,704) (31,698) (10,239) 104,380 131,933 NOI impact from change in FX not in comparable pool (8,147) 1,864 (6,282) (9,590) 2,480 (7,110) (13,345) 3,178 (10,167) (15,557) (18,233) 2,044 1,231 (13,513) (17,002) (16,159) 140 (16,019) (17,607) (1,024) (18,630) (19,128) (47,896) (46) (19,173) (47,896) Senior Housing Operating comparable pool cash NOI - constant currency $ 156,425 159,529 $ 106,584 $ 105,156 $ 119,428 $ 94,802 $ 92,509 $ 85,207 $ 84,037 USD ($) to CAD (C$) 4Q19 1.3195 1Q20 1.3423 2Q20 1.3859 3Q20 1.3322 4Q20 1.3030 1Q21 1.2660 2Q21 1.2285 3Q21 1.2592 4Q21 1.2604 45#46Financial Information: FFO and FAD Reconciliation1 In thousands, except per share amounts; dollars in USD; totals may not add due to rounding Note: Nareit FFO excluding the following income and expense items (which may be recurring in nature): (i) Deal Costs; (ii) the impact of any expenses related to asset impairment and valuation allowances, the write-off of unamortized deferred financing fees, or additional costs, expenses, discounts, make whole payments, penalties or premiums incurred as a result of early retirement or payment of the Company's debt; (iii) the non-cash effect of income tax benefits or expenses, the non-cash impact of changes to the Company's executive equity compensation plan, derivative transactions that have non-cash mark to market impacts on the Company's income statement and non-cash charges related to leases; (iv) the financial impact of contingent consideration, severance- related costs and charitable donations to the Ventas Charitable Foundation; (v) gains and losses for non- operational foreign currency hedge agreements and changes in the fair value of financial instruments; (vi) gains and losses on non-real estate dispositions and other unusual items related to unconsolidated entities; (vii) net expenses or recoveries related to natural disasters; and (viii) any other incremental items set forth in the Normalized FFO reconciliation included herein." (1) (2) Per share quarterly amounts may not add to annual per share amounts due to material changes in the Company's weighted average diluted share count, if any. Potential common shares are not included in the computation of diluted earnings per share when a loss from continuing operations exists as the effect would be an antidilutive per share amount. Net income (loss) attributable to common stockholders Net income (loss) attributable to common stockholders per share 2 Adjustments: Depreciation and amortization on real estate assets Depreciation on real estate assets related to noncontrolling interests Depreciation on real estate assets related to unconsolidated entities Gain on real estate dispositions (Loss) gain on real estate dispositions related to noncontrolling interests Gain on real estate dispositions related to unconsolidated entities Subtotal: FFO adjustments Subtotal: FFO adjustments per share FFO (Nareit) attributable to common stockholders FFO (Nareit) attributable to common stockholders per share Adjustments: Change in fair value of financial instruments Non-cash income tax (benefit) expense Loss on extinguishment of debt, net Loss on transactions related to unconsolidated entities Transaction expenses, deal costs and re-audit costs Amortization of other intangibles Other items related to unconsolidated entities Non-cash impact of changes to equity plan Natural disaster (recoveries) expenses, net Allowance on loan investments and impairment of unconsolidated entities, net of noncontrolling interests Subtotal: Normalized FFO adjustments Subtotal: Normalized FFO adjustments per share Normalized FFO attributable to common stockholders Normalized FFO attributable to common stockholders per share Weighted average diluted shares A VENTASⓇ 2016 Q1 2019 Q4 $ $ 148,980 0.44 $ 11,443 $ $ 0.03 2021 Q4 (40,854) $ (0.10) 234,726 (2,075) 1,989 347,371 (3,682) 311 317,936 (4,561) 4,781 (26,184) (1,389) (24,705) (536) (11) (395) 77 207,920 342,205 293,528 $ 0.61 $ 0.91 $ 0.73 $ 356,900 $ 353,648 $ 252,674 $ 1.05 $ 0.94 $ 0.63 (79) (22) 19,975 (9,157) 314 1,330 (5,880) 39 2,888 19 2,511 3,254 5,089 22,214 438 121 226 374 348 1,165 (2,288) (10,704) 340 (59) $ 696969 $ (5,230) (0.02) $ 351,670 $ (2,589) 40,275 (0.01) $ 0.10 351,059 $ 292,949 $ 1.04 $ 0.93 $ 0.73 339,202 376,453 403,108 46#47A VENTASⓇ Non-GAAP Financial Measures This presentation includes certain financial performance measures not defined by generally accepted accounting principles in the United States ("GAAP"). Reconciliations of these non- GAAP financial measures to the most directly comparable GAAP measures are included in this presentation. We believe such measures provide investors with additional information concerning our operating performance and a basis to compare our performance with the performance of other REITs. Our definitions and calculations of these non-GAAP measures may not be the same as similar measures reported by other REITS. These non-GAAP financial measures should not be considered as alternatives to net income attributable to common stockholders (determined in accordance with GAAP) as indicators of our financial performance or as alternatives to cash flow from operating activities (determined in accordance with GAAP) as measures of our liquidity, nor are these measures necessarily indicative of sufficient cash flow to fund all of our needs. Cautionary Note Regarding Forward-Looking Statements This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, statements of expectations, beliefs, future plans and strategies, anticipated results from operations and developments and other matters that are not historical facts. Forward-looking statements include, among other things, statements regarding our and our officers' intent, belief or expectation as identified by the use of words such as "may," "will," "project," "expect," "believe," "intend," "anticipate," "seek," "target," "forecast," "plan," "potential," "opportunity," "estimate," "could," "would," "should" and other comparable and derivative terms or the negatives thereof. Forward-looking statements are based on management's beliefs as well as on a number of assumptions concerning future events. You should not put undue reliance on these forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied by the forward-looking statements. We do not undertake a duty to update these forward-looking statements, which speak only as of the date on which they are made. You are urged to carefully review the disclosures we make concerning risks and uncertainties that may affect our business and future financial performance in our filings with the Securities and Exchange Commission ("SEC"), including those made in the "Summary Risk Factors" section, "Risk Factors" section and "Management's Discussion and Analysis of Financial Condition and Results of Operations" section of our most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Important Additional Information Regarding Proxy Solicitation Ventas, Inc. (the "Company") has filed a definitive proxy statement (the "Proxy Statement") and form of associated WHITE proxy card with the U.S. Securities and Exchange Commission ("SEC") in connection with the solicitation of proxies for the Company's 2022 annual meeting of stockholders (the "2022 Annual Meeting"). The Company, its directors and certain of its executive officers will be participants in the solicitation of proxies from stockholders in respect of the 2022 Annual Meeting. Information regarding the names of the Company's directors and executive officers and their respective interests in the Company by security holdings or otherwise is set forth in the Proxy Statement. To the extent holdings of such participants in the Company's securities have changed since the amounts described in the Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Details concerning the nominees of the Company's Board of Directors for election at the 2022 Annual Meeting are included in the Proxy Statement. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND STOCKHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE COMPANY'S DEFINITIVE PROXY STATEMENT AND ANY AMENDMENTS AND SUPPLEMENTS THERETO AND ACCOMPANYING WHITE PROXY CARD WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and stockholders will be able to obtain a copy of the Proxy Statement and other relevant documents filed by the Company free of charge from the SEC's website at http://www.sec.gov and at the Company's investor relations website at https://ir.ventasreit.com. 47