EFTA Document EFTA01382182

American Medical Properties Financial Model: Key Assumptions Financial forecast Acquisitions Financing Capital expenditures Cash distributions Exit assumptions Revenue estimates — Net rental revenue based on acquisitions at a weighted average 9.0% cap rate — Rents growing annually at 2.0% — Occupancy remains constant at 100% assuming 10-15 year lease contracts Operating expenses — No operating expenses with 100% triple-net lease agreements — Assumes $6 million in year 1, increasing by 2.0% every year D&A — Assumes 39-year depreciation period — Assets acquired at a weighted average 9.0% cap rate — Leverage of up to 60% of the total acquisition cost (40% equity /60% debt) Equity capital — Assumes 5300 million of equity capital raised — Assumes 3.0% fees and closing costs Debt capital — Maximum of 60% leverage — Interest rate: 6.0% — Amortization period: 30 years — I/O period: 2 years — 1.0% loan fees — Renovation capex assumed to be part of the acquisition price — Maintenance capex covered by tenants through triple-net leases — Start one quarter after rental income generation from acquisitions — Assumes an exit in two years into a REIT IPO for purposes of calculating IRR — Exit value based on a sale cap rate of 8.75% American Medical Properties (SU)) Total asset Equity value Debt O4 2016 5125 $50 575 Q1 2017 $125 $50 $75 Q2 2017 $125 $50 $75 O3 2017 $125 550 $75 O4 2017 $125 550 575 O1 2018 $125 $50 575 Total $750 $300 $450 za CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0081446 SONY_GM_00227630 EFTA01382182