Investor Presentaiton

Key Events 2023 Timeline Debentures Offering ■ Northwest announces new $75M Bought Deal financing (with an interest rate of 7.75%). DRIP, NCIB Northwest announced Normal Course Issuer Bid. ☐ Suspended Distribution Reinvestment Plan. Key Decisions to Unlock Future Value Changes to Board of Trustees ■ Dale Klein appointed Non-Executive Chair, Laura King as Chair of CG&N Committee and Maureen O'Connell as Chair of Audit Committee. Management Changes " Craig Mitchell appointed Interim CEO Mike Brady appointed President. Steps to Strengthen the Balance Sheet Management Changes ■ Craig Mitchell appointed CEO. Karen Martin appointed Interim CFO. 2023 Debt Maturities ■ The REIT eliminates 100% of its 2023 debt maturities & >60% of its 2024 debt maturities. New $140M term loan to extend maturities. Dispositions Program ■ ■ Northwest completes $360.7M of non-core asset sales in FY23. Q1 2023 Dispositions Program ■ Northwest identifies $220M of non-core asset sales for FY23 Q2 2023 Dispositions Program ■ Northwest increases non- core asset sale target from $220M to $340M. Q3 2023 Strategic Review Committee ("SRC") ■ Northwest forms SRC to undertake a strategic review Explore Disposal of Assets ☐ Potential sale of certain investment property portfolios. Q4 2023 Series G Debentures " Debenture holders vote to amend and extend the Series G debentures to March 2025. DRIP program reinstated. Australian Unity ("AUHPT") Unit Sales ■ Northwest completes $134.5M of AUHPT sales in FY23. GRESB ESG Leader " Vital Trust & Northwest recognized as leaders (1st and 2nd respectively) in 2023 GRESB ESG Real Estate Assessment. ☑northwest NWH REIT | Q4 2023 FINANCIAL RESULTS PRESENTATION | 9

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