Investor Presentaiton
Significant Real Estate Portfolio As of November 1, 2023
% of 297 Facilities Ensign Operates and 30
Owned Real Estate Leased to Third Party
Operators
(15)
Ensign Triple Net Master
Leases with Third Party Operators
Leased (without a
Purchase Option)
Leased (with a
Purchase Option)
Owned + Leased
to third party
operators
Owned + Operated
Total Owned
62.1%
3.4%
25.4%
9.2%
25.4%
Lease
Structure
Terms &
Termination
Multiple "triple-net" master leases
• Lease agreements with initial terms between 14 and 16
years, with three 5-year extension options
• Consent required for third party operators to sublease,
assign, encumber or otherwise transfer or dispose any
property
Rent Terms
Expenses
• Fixed base rent with CPI-based escalators
• Third party operators responsible for maintenance, capital
expenditures, property taxes, insurance and other expenses
Other
• Customary covenants and events of default
20
Refer to pages 53-54 for end notes. Source: Data as of 11/1/2023.View entire presentation