Investor Presentaiton

NAV Bridge (QoQ) (1) ($157.6m) Property revaluation loss for the quarter. ($199.6m) Global manager valuation adjustment. $ 11.96 (0.64) (0.81) 0.44 (0.07 ) $ 10.86 Global Manager $ 2.53 $ 1.72 $ 9.43 Q3 2023 FV Loss $ 9.14 Manager Val FX Other Q4 2023 Notes: (1) As defined in Q4 2023 MD&A. Expressed as $/unit. All values shown on a consolidated basis. Source: Q4 2023 MD&A ☑northwest NWH REIT | Q4 2023 FINANCIAL RESULTS PRESENTATION | 15

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