コミュニティヘルスケアトラストの適時開示・決算・その他

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): May 2, 2023 (May 2, 2023)

COMMUNITY HEALTHCARE TRUST INCORPORATED

(Exact Name of Registrant as Specified in its Charter)

Maryland

001-37401

46-5212033

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer
Identification No.)

3326 Aspen Grove Drive, Suite 150, Franklin, Tennessee 37067


(Address of principal executive offices) (Zip Code)

(615) 771-3052

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each Class

Trading Symbol

Name of each exchange on which registered

Common stock, $0.01 par value per share

CHCT

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On May 2, 2023, Community Healthcare Trust Incorporated (the "Company") issued a press release announcing its earnings for the first quarter ended March 31, 2023. A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.

This information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act.

Item 7.01 Regulation FD Disclosure

The Company is furnishing its Supplemental Information for the first quarter ended March 31, 2023, which is also contained on its website (www.chct.reit). See Exhibit 99.2 to this Current Report on Form 8-K.

The Company has prepared an investor presentation for the first quarter ended March 31, 2023 that is expected to be used in meetings with current and potential investors. A copy of this presentation is available on the Company's website (www.chct.reit).

This information furnished pursuant to this Item 7.01, including Exhibit 99.2, shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing under the Securities Act or the Exchange Act.

Item 9.01 Financial Statements and Exhibits

The exhibits required by Item 601 of Regulation S-K which are filed with this report are listed in the Exhibit Index and are hereby incorporated in by reference.

EXHIBIT INDEX


Exhibit No.			Description
99.1			Press release dated May 2 , 2023
99.2			Supplemental Information - F irst Quarter 20 23
104			Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.




	COMMUNITY HEALTHCARE TRUST INCORPORATED

	By:	/s/ David H. Dupuy David H. Dupuy Chief Executive Officer and Chief Financial Officer
May 2, 2023

EX-99.1 2 earningspressrelease2023q1.htm EX-99.1 Document

Exhibit 99.1

News Release

Community Healthcare Trust Announces Results for the Three Months Ended March 31, 2023

FRANKLIN, Tenn., May 2, 2023 / PRNewswire / -- Community Healthcare Trust Incorporated (NYSE: CHCT) (the "Company") today announced results for the three months ended March 31, 2023. The Company reported a net loss for the three months ended March 31, 2023 of approximately $6.9 million, or a $0.32 loss per diluted common share. Funds from operations ("FFO") and adjusted funds from operations ("AFFO") for the three months ended March 31, 2023 totaled $0.09 and $0.62, respectively, per diluted common share.

Items Impacting Our Results include:

•On March 3, 2023, Timothy G. Wallace, our former Chief Executive Officer ("CEO"), President and Chairman of the Board passed away after a brief medical leave of absence. On March 6, 2023, the Company's board of directors ("Board") appointed David H. Dupuy, who has served as the Company's Chief Financial Officer ("CFO") since 2019, as the Company's new CEO and Mr. Dupuy will continue to serve as CFO until a successor is chosen for that position. At the time of his passing, Mr. Wallace had 624,725 shares of restricted stock that had not vested. Upon his passing, Mr. Wallace's unvested shares of restricted stock vested in accordance with the terms of his employment agreement, and the Company accelerated the unamortized balance of deferred compensation related to his unvested shares and recognized an additional $11.8 million of amortization expense in the first quarter of 2023.

•During the three months ended March 31, 2023, the Company acquired seven real estate properties for an aggregate purchase price of approximately $23.4 million. Upon acquisition, the properties totaling approximately 162,000 square feet, were 100.0% leased in the aggregate with lease expirations through 2031.

•The Company has four properties under definitive purchase agreements for an expected aggregate purchase price of approximately $19.7 million. The Company's expected aggregate return on these investments ranges from approximately 9.16% to 9.25%. The Company expects to close on these properties in the second quarter of 2023; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.

•The Company also has nine properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $214.5 million. The Company's expected returns on these investments are approximately 9.75% to 10.25%. The Company anticipates closing on these properties throughout 2023, 2024 and 2025; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.

•During the first quarter of 2023, the Company issued, through its at-the-market offering program, 249,205 shares of common stock at an average gross sales price of $36.69 per share for net proceeds of approximately $8.9 million at an approximate 4.978% current equity yield.

•On April 27, 2023, the Company’s Board of Directors declared a quarterly common stock dividend in the amount of $0.45 per share. The dividend is payable on May 26, 2023 to stockholders of record on May 12, 2023.

About Community Healthcare Trust Incorporated

Community Healthcare Trust Incorporated is a real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in our target sub-markets throughout the United States. As of March 31, 2023, the Company had investments of approximately $974.0 million in 181 real estate properties (including a portion of one property accounted for as a sales-type lease). The properties are located in 34 states, totaling approximately 4.0 million square feet in the aggregate.

Additional information regarding the Company, including this quarter's operations, can be found at www.chct.reit. Please contact the Company at 615-771-3052 to request a printed copy of this information.

Cautionary Note Regarding Forward-Looking Statements

In addition to the historical information contained within, the matters discussed in this press release may contain “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, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as “believes”, “expects”, “may”, “will,” “should”, “seeks”, “approximately”, “intends”, “plans”, “estimates”, “anticipates” or other similar words or expressions, including the negative thereof. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management. Because forward-looking statements relate to future events, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the control of Community Healthcare Trust Incorporated (the "Company"). Thus, the Company’s actual results and financial condition may differ materially from those indicated in such forward-looking statements. Some factors that might cause such a difference include the following: general volatility of the capital markets and the market price of the Company’s common stock, changes in the Company’s business strategy, availability, terms and deployment of capital, the Company’s ability to refinance existing indebtedness at or prior to maturity on favorable terms, or at all, changes in the real estate industry in general, interest rates or the general economy, adverse developments related to the healthcare industry, changes in governmental regulations, the degree and nature of the Company’s competition, the ability to consummate acquisitions under contract, catastrophic or extreme weather and other natural events and the physical effects of climate change, the occurrence of cyber incidents, effects on global and national markets as well as businesses resulting from increased inflation, rising interest rates, supply chain disruptions, labor conditions, the COVID-19 pandemic and/or the conflict between Russia and Ukraine, and the other factors described in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, and the Company’s other filings with the Securities and Exchange Commission from time to time. Readers are therefore cautioned not to place undue reliance on the forward-looking statements contained herein which speak only as of the date hereof. The Company intends these forward-looking statements to speak only as of the time of this press release and undertakes no obligation to update forward-looking statements, whether as a result of new information, future developments, or otherwise, except as may be required by law.

COMMUNITY HEALTHCARE TRUST INCORPORATED

CONSOLIDATED BALANCE SHEETS

(Dollars and shares in thousands, except per share amounts)


	(Unaudited)
	March 31, 2023		December 31, 2022

ASSETS
Real estate properties:
Land and land improvements	$	122,702	$	117,657
Buildings, improvements, and lease intangibles	848,060		825,257
Personal property	264		253
Total real estate properties	971,026		943,167
Less accumulated depreciation	(174,346)		(165,341)
Total real estate properties, net	796,680		777,826
Cash and cash equivalents	3,666		11,233
Restricted cash	959		835

Other assets, net	84,989		86,531
Total assets	$	886,294	$	876,425

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Debt, net	$	365,061	$	352,997
Accounts payable and accrued liabilities	10,478		11,377
Other liabilities, net	16,240		15,237
Total liabilities	391,779		379,611

Commitments and contingencies

Stockholders' Equity
Preferred stock, $0.01 par value; 50,000 shares authorized; none issued and outstanding	—		—
Common stock, $0.01 par value; 450,000 shares authorized; 26,274 and 25,897 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	263		259
Additional paid-in capital	648,384		625,136
Cumulative net income	74,220		81,142
Accumulated other comprehensive gain	15,684		22,667
Cumulative dividends	(244,036)		(232,390)
Total stockholders’ equity	494,515		496,814
Total liabilities and stockholders' equity	$	886,294	$	876,425


The Consolidated Balance Sheets do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.

COMMUNITY HEALTHCARE TRUST INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022

(Dollars and shares in thousands, except per share amounts)


	Three Months Ended March 31,
	2023		2022
	(Unaudited)
REVENUES
Rental income	$	26,128	$	22,604


Other operating interest	1,048		877
	27,176		23,481

EXPENSES
Property operating	4,873		4,091
General and administrative (1)	16,205		3,316
Depreciation and amortization	9,018		7,942

	30,096		15,349

(LOSS) INCOME BEFORE INCOME TAXES AND OTHER ITEMS	(2,920)		8,132

Interest expense	(3,992)		(2,626)

Deferred income tax expense	(35)		17
Interest and other income	25		1

NET (LOSS) INCOME	$	(6,922)	$	5,524

NET (LOSS) INCOME PER COMMON SHARE (1):
Net (loss) income per common share – Basic	$	(0.32)	$	0.21
Net (loss) income per common share – Diluted	$	(0.32)	$	0.21
WEIGHTED AVERAGE COMMON SHARE OUTSTANDING-BASIC	24,227		23,570
WEIGHTED AVERAGE COMMON SHARE OUTSTANDING-DILUTED	24,227		23,570
___________
(1) General and administrative expenses for the three months ended March 31, 2023 included stock-based compensation expense totaling approximately $14.3 million, including the accelerated amortization of stock-based compensation totaling approximately $11.8 million, or $0.49 per diluted common share, recognized upon the passing of our former CEO and President. General and administrative expenses for the three months ended March 31, 2022 included stock-based compensation expense totaling approximately $2.1 million.


The Condensed Consolidated Statements of Income do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.

COMMUNITY HEALTHCARE TRUST INCORPORATED

RECONCILIATION OF FFO and AFFO (1)

(Unaudited; Dollars and shares in thousands, except per share amounts)


	Three Months Ended March 31,
	2023		2022
Net (loss) income	$	(6,922)	$	5,524
Real estate depreciation and amortization	9,088		8,001




FFO	$	2,166	$	13,525

Straight-line rent	(917)		(820)
Stock-based compensation	2,547		2,122
Accelerated amortization of stock-based compensation (2)	11,799		—
AFFO	$	15,595	$	14,827
FFO per Common Share-Diluted (2)	$	0.09	$	0.56
AFFO per Common Share-Diluted	$	0.62	$	0.61
Weighted Average Common Shares Outstanding-Diluted (3)	25,298		24,344


(1)			Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. However, since real estate values have historically risen or fallen with market conditions, many industry investors deem presentations of operating results for real estate companies that use historical cost accounting to be insufficient by themselves. For that reason, the Company considers funds from operations ("FFO") and adjusted funds from operations ("AFFO") to be appropriate measures of operating performance of an equity real estate investment trust ("REIT"). In particular, the Company believes that AFFO is useful because it allows investors, analysts and Company management to compare the Company's operating performance to the operating performance of other real estate companies and between periods on a consistent basis without having to account for differences caused by unanticipated items and other events. The Company uses the National Association of Real Estate Investment Trusts, Inc. ("NAREIT") definition of FFO. FFO is an operating performance measure adopted by NAREIT. NAREIT defines FFO as the most commonly accepted and reported measure of a REIT’s operating performance equal to net income (calculated in accordance with GAAP), excluding gains or losses from the sale of certain real estate assets, gains and losses from change in control, impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity, plus depreciation and amortization related to real estate properties, and after adjustments for unconsolidated partnerships and joint ventures. NAREIT also provides REITs with an option to exclude gains, losses and impairments of assets that are incidental to the main business of the REIT from the calculation of FFO. In addition to FFO, the Company presents AFFO and AFFO per share. The Company defines AFFO as FFO, excluding certain expenses related to closing costs of properties acquired accounted for as business combinations and mortgages funded, excluding straight-line rent and the amortization of stock-based compensation, and including or excluding other non-cash items from time to time. AFFO presented herein may not be comparable to similar measures presented by other real estate companies due to the fact that not all real estate companies use the same definition. FFO and AFFO should not be considered as alternatives to net income (determined in accordance with GAAP) as indicators of the Company's financial performance or as alternatives to cash flow from operating activities (determined in accordance with GAAP) as measures of the Company’s liquidity, nor are they necessarily indicative of sufficient cash flow to fund all of the Company’s needs. The Company believes that in order to facilitate a clear understanding of the consolidated historical operating results of the Company, FFO and AFFO should be examined in conjunction with net income as presented elsewhere herein.
(2)			In the first quarter of 2023, the Company accelerated the amortization of stock-based compensation totaling $11.8 million, impacting FFO per diluted share by $0.47, upon the passing of our former CEO and President.
(3)			Diluted weighted average common shares outstanding for FFO and AFFO are calculated based on the treasury method, rather than the 2-class method used to calculate earnings per share.

CONTACT: David H. Dupuy, 615-771-3052

SOURCE: Community Healthcare Trust Incorporated

EX-99.2 3 supplementalinfo2023q1.htm EX-99.2 Document

Exhibit 99.2


			CHCT
			LISTED
			NYSE


SUPPLEMENTAL INFORMATION Q1 2023


Community Healthcare Trust						1Q 2023 \| Supplemental Information

ABOUT US

CHCT is a self-managed healthcare real estate investment trust (“REIT”) that owns a diverse portfolio of properties including medical office buildings, acute inpatient behavioral facilities, inpatient rehabilitation facilities, physician clinics, specialty centers, behavioral specialty facilities, and surgical centers and hospitals across the United States, primarily outside of urban centers. As a result of favorable demographic trends, increases in healthcare spending, and the shift in the delivery of healthcare services to community-based facilities, we believe our properties are essential for healthcare providers to serve their local markets.

TABLE OF CONTENTS


Company Snapshot			3
Corporate Information			4
Financial Highlights			5
Consolidated Balance Sheets			7
Consolidated Statements of Operations			8
Reconciliation of Non-GAAP Measures			9
Weighted Average Shares			11
Executive Compensation			12
Debt Summary			13
Investment Activity			14
Portfolio Diversification			15
Lease Expirations			16
Property Locations			17
Reporting Definitions			23
Disclaimers			26


Community Healthcare Trust						1Q 2023 \| Supplemental Information

COMPANY SNAPSHOT


	March 31, 2023
Gross real estate investments (in thousands) (1)	$974,042
Total properties	181
% Leased	91.6	%
Total square feet owned	3,951,330
Weighted Average remaining lease term (years)	7.4
Cash and cash equivalents and restricted cash (in thousands)	$4,625
Debt to Total Capitalization	35.3	%
Weighted average interest rate per annum on Revolving Line of Credit	6.6	%
Weighted average interest rate per annum on Term Loans	4.3	%
Equity market cap (in millions)	$961.6
Quarterly dividend paid in the period (per share)	$0.4475
Quarter end stock price (per share)	$36.60
Dividend yield	4.89	%
Common shares outstanding	26,273,701
___________
(1) Includes a portion of one property accounted for as a sales-type lease.


Community Healthcare Trust			Page \| 3			1Q 2023 \| Supplemental Information

CORPORATE INFORMATION

Community Healthcare Trust Incorporated

3326 Aspen Grove Drive, Suite 150

Franklin, TN 37067

Phone: 615-771-3052

E-mail: Investorrelations@chct.reit

Website: www.chct.reit

BOARD OF DIRECTORS

Alan Gardner

Robert Hensley

Claire Gulmi

R. Lawrence Van Horn

Cathrine Cotman

David Dupuy

Chairman of the
Board

Audit Committee
Chair

Compensation Committee
Chair

ESG Committee
Chair

Board
member


EXECUTIVE MANAGEMENT TEAM


David H. Dupuy	Leigh Ann Stach	Timothy L. Meyer
Chief Executive Officer and Chief Financial Officer	Executive Vice President Chief Accounting Officer	Executive Vice President Asset Management


COVERING ANALYSTS


A. Goldfarb - Piper Sandler			M. Lewis - Truist Securities
S. Sakwa - Evercore ISI			R. Stevenson - Janney Capital Markets
D. Rodgers - Baird			D. Toti - Colliers International Securities


PROFESSIONAL SERVICES


Independent Registered Public Accounting Firm			Transfer Agent
BDO USA, LLP			American Stock Transfer & Trust Company, LLC
501 Commerce Street, Suite 1400			Operations Center
Nashville, TN 37203			6201 15th Avenue
			Brooklyn, NY 11219
			1-800-937-5449


Community Healthcare Trust			Page \| 4			1Q 2023 \| Supplemental Information

FINANCIAL HIGHLIGHTS


		Three Months Ended
		1Q 2023		4Q 2022		3Q 2022		2Q 2022		1Q 2022
		(Unaudited and in thousands, except per share data)
STATEMENTS OF OPERATIONS ITEMS
	Revenues	$	27,176	$	25,342	$	24,807	$	24,049	$	23,481
	Net (loss) income (1)	$	(6,922)	$	5,238	$	5,673	$	5,584	$	5,524
	NOI	$	22,303	$	21,186	$	20,480	$	19,987	$	19,390
	EBITDAre	$	6,123	$	17,040	$	16,725	$	16,432	$	16,075
	Adjusted EBITDAre	$	20,469	$	19,685	$	19,189	$	18,616	$	18,197
	FFO	$	2,166	$	13,620	$	13,751	$	13,725	$	13,525
	AFFO	$	15,595	$	15,411	$	15,362	$	14,992	$	14,827

Per Diluted Share:
	Net (loss) income attributable to common shareholders	$	(0.32)	$	0.19	$	0.21	$	0.21	$	0.21
	FFO	$	0.09	$	0.56	$	0.57	$	0.57	$	0.56
	AFFO	$	0.62	$	0.63	$	0.63	$	0.62	$	0.61
	___________
	(1) Net loss for the first quarter of 2023 includes accelerated amortization of $11.8 million recognized upon passing of our former CEO and President.


Community Healthcare Trust			Page \| 5			1Q 2023 \| Supplemental Information

FINANCIAL HIGHLIGHTS (Continued)


		As of
		1Q 2023			4Q 2022			3Q 2022			2Q 2022			1Q 2022
		(Unaudited and dollars in thousands)
BALANCE SHEET ITEMS
ASSETS
	Total real estate properties	$	971,026		$	943,167		$	886,958		$	866,481		$	840,755
	Total assets	$	886,294		$	876,425		$	811,929		$	786,034		$	761,230

CAPITALIZATION
	Net debt	$	365,061		$	352,997		$	310,781		$	291,726		$	269,670
	Total capitalization	$	1,033,922		$	1,015,152		$	946,307		$	913,737		$	881,769
	Net debt/total capitalization	35.3		%	34.8		%	32.8		%	31.9		%	30.6		%
	Market valuation	$	961,617		$	927,129		$	828,547		$	908,844		$	1,058,303
	Enterprise value	$	1,322,053		$	1,268,058		$	1,135,990		$	1,198,212		$	1,326,274


Community Healthcare Trust			Page \| 6			1Q 2023 \| Supplemental Information

CONSOLIDATED BALANCE SHEETS


	As of
	1Q 2023		4Q 2022		3Q 2022		2Q 2022		1Q 2022
ASSETS	(Unaudited; Dollars and shares in thousands, except per share data)
Real estate properties
Land and land improvements	$	122,702	$	117,657	$	103,413	$	101,909	$	98,561
Buildings, improvements, and lease intangibles	848,060		825,257		783,308		764,338		741,969
Personal property	264		253		237		234		225
Total real estate properties	971,026		943,167		886,958		866,481		840,755
Less accumulated depreciation	(174,346)		(165,341)		(157,040)		(149,049)		(140,985)
Total real estate properties, net	796,680		777,826		729,918		717,432		699,770
Cash and cash equivalents	3,666		11,233		2,656		1,699		1,178
Restricted cash	959		835		682		659		521

Other assets, net	84,989		86,531		78,673		66,244		59,761
Total assets	$	886,294	$	876,425	$	811,929	$	786,034	$	761,230

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Debt, net	$	365,061	$	352,997	$	310,781	$	291,726	$	269,670
Accounts payable and accrued liabilities	10,478		11,377		8,143		7,219		6,894
Other liabilities, net	16,240		15,237		14,519		14,127		13,552
Total liabilities	391,779		379,611		333,443		313,072		290,116

Commitments and contingencies

Stockholders' Equity
Preferred stock, $0.01 par value; 50,000 shares authorized	—		—		—		—		—
Common stock, $0.01 par value; 450,000 shares authorized	263		259		253		251		251
Additional paid-in capital	648,384		625,136		601,968		599,631		597,548
Cumulative net income	74,220		81,142		75,904		70,231		64,647
Accumulated other comprehensive gain	15,684		22,667		21,468		12,761		7,542
Cumulative dividends	(244,036)		(232,390)		(221,107)		(209,912)		(198,874)
Total stockholders’ equity	494,515		496,814		478,486		472,962		471,114
Total liabilities and stockholders' equity	$	886,294	$	876,425	$	811,929	$	786,034	$	761,230


Community Healthcare Trust			Page \| 7			1Q 2023 \| Supplemental Information

CONSOLIDATED STATEMENTS OF OPERATIONS


	Three Months Ended
	1Q 2023			4Q 2022			3Q 2022			2Q 2022			1Q 2022
	(Unaudited; Dollars and shares in thousands, except per share data)
REVENUES
Rental income	$	26,128		$	24,383		$	23,919		$	23,197		$	22,604


Other operating interest	1,048			959			888			852			877
	27,176			25,342			24,807			24,049			23,481

EXPENSES
Property operating	4,873			4,156			4,327			4,062			4,091
General and administrative (1) (2)	16,205			4,149			3,762			3,610			3,316
Depreciation and amortization	9,018			8,317			8,003			8,077			7,942

	30,096			16,622			16,092			15,749			15,349

INCOME BEFORE INCOME TAXES AND OTHER ITEMS	(2,920)			8,720			8,715			8,300			8,132

Interest expense	(3,992)			(3,464)			(3,028)			(2,755)			(2,626)

Deferred income tax (expense) benefit	(35)			(21)			(21)			(16)			17
Interest and other income	25			3			7			55			1
NET (LOSS) INCOME	$	(6,922)		$	5,238		$	5,673		$	5,584		$	5,524

NET (LOSS) INCOME PER COMMON SHARE

NET (LOSS) INCOME PER DILUTED COMMON SHARE	$	(0.32)		$	0.19		$	0.21		$	0.21		$	0.21
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING	24,227			23,787			23,587			23,578			23,570
DIVIDENDS DECLARED, PER COMMON SHARE, IN THE PERIOD	$	0.4475		$	0.4450		$	0.4425		$	0.4400		$	0.4375


(1) GENERAL AND ADMINISTRATIVE EXPENSES:
Non-cash vs. Cash:
Non-cash (stock-based compensation)	57.8		%	63.8		%	65.5		%	60.5		%	64.0		%
Cash	42.2		%	36.2		%	34.5		%	39.5		%	36.0		%
As a % of Revenue:
Non-cash (stock-based compensation)	9.3		%	10.4		%	9.9		%	9.1		%	9.0		%
Cash	6.8		%	5.9		%	5.2		%	5.9		%	5.1		%

(2) General and administrative expenses for the three months ended March 31, 2023 includes the accelerated amortization of stock-based compensation totaling $11.8 million recognized upon the passing of our former CEO and President but the accelerated amortization is not included in the calculations above in footnote (1).


Community Healthcare Trust			Page \| 8			1Q 2023 \| Supplemental Information

RECONCILIATION OF NON-GAAP MEASURES

FUNDS FROM OPERATIONS (FFO)

ADJUSTED FUNDS FROM OPERATIONS (AFFO)


		Three Months Ended
		1Q 2023		4Q 2022		3Q 2022		2Q 2022		1Q 2022
		(Unaudited; Dollars and shares in thousands, except per share data)
NET (LOSS) INCOME		$	(6,922)	$	5,238	$	5,673	$	5,584	$	5,524
	Real estate depreciation and amortization	9,088		8,382		8,078		8,141		8,001




FFO		2,166		13,620		13,751		13,725		13,525
	Straight-line rent	(917)		(854)		(853)		(917)		(820)
	Stock-based compensation	2,547		2,645		2,464		2,184		2,122
	Accelerated amortization of stock-based compensation	11,799		—		—		—		—
AFFO		$	15,595	$	15,411	$	15,362	$	14,992	$	14,827
FFO PER COMMON SHARE		$	0.09	$	0.56	$	0.57	$	0.57	$	0.56
AFFO PER COMMON SHARE		$	0.62	$	0.63	$	0.63	$	0.62	$	0.61
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING		25,298		24,471		24,312		24,247		24,344



AFFO, ADJUSTED FOR ACQUISITIONS (1)

AFFO		$	15,595	$	15,411	$	15,362	$	14,992	$	14,827
	Revenue on Properties Acquired in the period (2)	383		1,116		308		302		132
	Property operating expense adjustment (2)	(104)		(308)		(4)		(31)		(59)
	Interest expense adjustment (3)	(65)		(232)		(58)		(32)		(11)
AFFO, ADJUSTED FOR ACQUISITIONS		$	15,809	$	15,987	$	15,608	$	15,231	$	14,889

(1) AFFO is adjusted to reflect acquisitions as if they had occurred on the first day of the applicable period.
(2) Revenue and expense adjustments are calculated based on expected returns and leases in place at acquisition.
(3) Assumes that acquisitions were 40% funded with debt and the remainder funded with equity. The interest expense adjustment was calculated using the weighted average interest rate on the Company's revolving credit facility for the period.


AMORTIZATION OF STOCK-BASED COMPENSATION (1)
	Amortization Required by GAAP (2)	$	2,547	$	2,675	$	2,464	$	2,184	$	2,122
	Amortization Based on Legal Vesting Periods	1,830		1,845		1,822		1,701		1,671
	Acceleration of Amortization	$	717	$	830	$	642	$	483	$	451

(1) Excludes the accelerated amortization totaling $11.8 million recognized upon the passing of our former CEO and President.
(2) GAAP requires that deferred compensation be amortized over the earlier of the vesting or retirement eligibility date.


Community Healthcare Trust			Page \| 9			1Q 2023 \| Supplemental Information

RECONCILIATION OF NON-GAAP MEASURES (CONTINUED)

NET OPERATING INCOME (NOI)


		Three Months Ended
		1Q 2023		4Q 2022		3Q 2022		2Q 2022		1Q 2022
		(Unaudited; Dollars and shares in thousands, except per share data)
NET OPERATING INCOME
	Net (loss) income	$	(6,922)	$	5,238	$	5,673	$	5,584	$	5,524
	General and administrative	4,406		4,149		3,762		3,610		3,316
	Accelerated amortization of stock-based compensation	11,799		—		—		—		—
	Depreciation and amortization	9,018		8,317		8,003		8,077		7,942

	Interest expense	3,992		3,464		3,028		2,755		2,626
	Deferred Income tax expense (benefit)	35		21		21		16		(17)
	Interest and other income, net	(25)		(3)		(7)		(55)		(1)
NOI		$	22,303	$	21,186	$	20,480	$	19,987	$	19,390




EBITDAre and ADJUSTED EBITDAre

EBITDAre
	Net (loss) income	$	(6,922)	$	5,238	$	5,673	$	5,584	$	5,524
	Interest expense	3,992		3,464		3,028		2,755		2,626
	Depreciation and amortization	9,018		8,317		8,003		8,077		7,942
	Deferred Income tax expense (benefit)	35		21		21		16		(17)

EBITDAre		$	6,123	$	17,040	$	16,725	$	16,432	$	16,075
	Non-cash stock-based compensation expense	2,547		2,645		2,464		2,184		2,122
	Accelerated amortization of stock-based compensation	11,799		—		—		—		—
ADJUSTED EBITDAre		$	20,469	$	19,685	$	19,189	$	18,616	$	18,197

ADJUSTED EBITDAre ANNUALIZED (1)		$	81,876


(1)			Adjusted EBITDAre multiplied by 4. This annualized amount may differ significantly from the actual full year results.


Community Healthcare Trust			Page \| 10			1Q 2023 \| Supplemental Information

WEIGHTED AVERAGE SHARES


		Three Months Ended
		1Q 2023		4Q 2022		3Q 2022		2Q 2022		1Q 2022
		(Unaudited; Dollars and shares in thousands, except per share data)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
	Weighted average common shares outstanding	26,043		25,498		25,221		25,087		25,060
	Unvested restricted shares	(1,816)		(1,711)		(1,634)		(1,509)		(1,490)
	Weighted average common shares outstanding - EPS	24,227		23,787		23,587		23,578		23,570

	Weighted average common shares outstanding - FFO Basic	24,227		23,787		23,587		23,578		23,570
	Dilutive potential common shares (from below)	1,071		684		725		669		774
	Weighted average common shares outstanding - FFO Diluted	25,298		24,471		24,312		24,247		24,344

TREASURY SHARE CALCULATION
	Unrecognized deferred compensation-end of period	$	24,465	$	33,652	$	36,364	$	30,886	$	32,087
	Unrecognized deferred compensation-beginning of period	$	33,652	$	36,364	$	30,886	$	32,087	$	29,943
	Average unrecognized deferred compensation	$	29,059	$	35,008	$	33,625	$	31,487	$	31,015
	Average share price per share	$	39.01	$	34.06	$	36.97	$	37.47	$	43.30
	Treasury shares	745		1,027		909		840		716

	Unvested restricted shares	1,816		1,711		1,634		1,509		1,490
	Treasury shares	(745)		(1,027)		(909)		(840)		(716)
	Dilutive potential common shares	1,071		684		725		669		774


Community Healthcare Trust			Page \| 11			1Q 2023 \| Supplemental Information

EXECUTIVE COMPENSATION


									Performance Based Incentive Compensation
Name and Position		Year	Total Compensation		Salary Taken In Stock (1)		Other (2)		Bonus Stock (1)		Alignment of Interest Stock (3)		1-Year Total Shareholder Return Stock		3-Year Total Shareholder Return Stock		5-Year Total Shareholder Return Stock		Total Performance Based Incentive Compensation		Percent of Total

Timothy G. Wallace (4)		2022	$	4,540,328	$	794,200	$	12,425	$	913,330	$	1,710,257	$	—	$	222,023	$	888,093	$	3,733,703	82.2	%
	Former Chief Executive Officer and President	2021	$	4,788,861	$	750,000	$	11,650	$	862,500	$	1,621,703	$	—	$	771,504	$	771,504	$	4,027,211	84.1	%
	Former Chief Executive Officer and President	2020	$	3,737,563	$	645,000	$	13,382	$	548,250	$	1,402,181	$	483,750	$	645,000	$	—	$	3,079,181	82.4	%

David H. Dupuy (5)		2022	$	2,785,183	$	487,200	$	7,487	$	560,280	$	1,049,216	$	—	$	136,192	$	544,808	$	2,290,496	82.2	%
	Chief Executive Officer, President and Chief Financial Officer	2021	$	3,183,341	$	460,000	$	253,262	$	529,000	$	994,675	$	—	$	473,202	$	473,202	$	2,470,079	77.6	%
		2020	$	2,451,981	$	392,000	$	188,572	$	333,200	$	852,209	$	294,000	$	392,000	$	—	$	1,871,409	76.3	%

Leigh Ann Stach		2022	$	2,342,141	$	410,500	$	1,750	$	472,075	$	883,998	$	—	$	114,764	$	459,054	$	1,929,891	82.4	%
	Executive Vice President and Chief Accounting Officer	2021	$	2,472,513	$	387,600	$	3,648	$	445,740	$	838,123	$	—	$	398,701	$	398,701	$	2,081,265	84.2	%
	Executive Vice President and Chief Accounting Officer	2020	$	1,895,617	$	326,800	$	8,734	$	277,780	$	710,403	$	245,100	$	326,800	$	—	$	1,560,083	82.3	%

Timothy L. Meyer (6)		2022	$	1,785,445	$	312,400	$	4,311	$	359,260	$	672,777	$	—	$	87,339	$	349,358	$	1,468,734	82.3	%
	Executive Vice President - Asset Management	2021	$	917,202	$	280,000	$	14,789	$	165,000	$	457,413	$	—	$	—	$	—	$	622,413	67.9	%

(1) Each Executive Officer has elected to take 100% of their salary and cash bonus in deferred stock with an 8-year cliff vesting.
(2) Other includes employer contributions to the executive officer's health savings account (HSA) and 401(k); the value of the grant of 5,000 shares of restricted stock to Mr. Dupuy in each of the years 2020 and 2021, and the value of the grant of 260 shares of restricted stock to Mr. Meyer in 2021.
(3) Alignment of interest stock grants per the Alignment Interest Program which is part of the Company's Incentive Plan.
(4) Mr. Wallace, our former CEO and President, passed away on March 3, 2023.
(5) Mr. Dupuy was appointed as CEO effective March 6, 2023. He will continue in his role as CFO until a successor is chosen.
(6) Mr. Meyer joined the Company on July 1, 2019 and was promoted to Executive Vice President on October 1, 2021.


	CEO Pay Ratios
	Former CEO and President		Median Employee		Average Employee (1)		Lowest Paid Employee (1)
Cash	$	—	$	123,900	$	114,349	$	63,500
Compensation Taken in Stock	4,527,903		68,500		295,291		—
Other Compensation	12,425		3,047		4,638		1,348
Total Compensation	$	4,540,328	$	195,447	$	414,278	$	64,848
CEO to Employee Ratio			23:1		11:1		70:1
___________
(1) Excludes part-time employees who worked less than 20 hours per week.


Community Healthcare Trust			Page \| 12			1Q 2023 \| Supplemental Information

DEBT SUMMARY


	As of March 31, 2023
	Principal Balance		Stated Rate		Hedged Rate
	(in thousands)

Revolving credit facility	$	12,000	6.55	%	—
Term loan A-3	75,000		2.05	%	4.29	%
Term loan A-4	125,000		2.05	%	3.35	%
Term loan A-5	150,000		2.05	%	5.11	%
Total Credit Facility	362,000

Secured mortgage loan	4,915		4.98	%	—

Debt	366,915
Deferred Financing Costs, net	(1,854)
Debt, net	$	365,061


Select Covenants	Required	1Q 2023
Leverage ratio	≤ 60.0%	36.3	%
Fixed charge coverage ratio	≥ 1.50x	5.33
Tangible net worth (in thousands)	≥ $472,403	$644,060
Secured indebtedness	≤ 30.0%	0.5	%
Minimum debt service coverage ratio	≥ 2.0	6.16


Community Healthcare Trust			Page \| 13			1Q 2023 \| Supplemental Information

2023 PROPERTY ACQUISITIONS


Property	Market	Property Type	Date Acquired	% Leased at Acquisition		Purchase Price (in thousands)		Square Feet
Emory Healthcare	LaGrange, GA	MOB	01/18/23	100.0	%	$	8,007	55,310
Emory Healthcare	West Point, GA	MOB	01/18/23	100.0	%	811		5,600
Hills & Dales Professional Center	Canton, OH	MOB	01/30/23	100.0	%	3,669		27,920
Northeastern Eye Institute	Scranton, PA	MOB	02/23/23	100.0	%	1,957		22,743
Northeastern Eye Institute	Scranton, PA	MOB	02/23/23	100.0	%	2,207		15,768
Emory Southern Orthopedics	LaGrange, GA	MOB	03/06/23	100.0	%	6,469		31,473
Emory Southern Orthopedics	LaGrange, GA	MOB	03/06/23	100.0	%	249		2,972

				100.0	%	$	23,369	161,786


Community Healthcare Trust			Page \| 14			1Q 2023 \| Supplemental Information

PORTFOLIO DIVERSIFICATION


Property Type	Annualized Rent (%)
Medical Office Building (MOB)	33.8	%
Inpatient Rehabilitation Facilities (IRF)	17.4	%
Acute Inpatient Behavioral (AIB)	14.7	%
Specialty Centers (SC)	12.9	%
Physician Clinics (PC)	8.9	%
Surgical Centers and Hospitals (SCH)	5.5	%
Behavioral Specialty Facilities (BSF)	5.1	%
Long-term Acute Care Hospitals (LTACH)	1.7	%
Total	100.0	%


State	Annualized Rent (%)
Texas (TX)	14.5	%
Ohio (OH)	11.8	%
Illinois (IL)	11.5	%
Florida (FL)	8.4	%
Pennsylvania (PA)	4.6	%
All Others (Less than 4%)	49.2	%
Total	100.0	%


Tenant	Annualized Rent (%)
LifePoint Health	10.1	%
US Healthvest	8.5	%
Genesis Care (Genesis)	4.1	%
All Others (Less than 4%)	77.3	%
Total	100.0	%


Community Healthcare Trust			Page \| 15			1Q 2023 \| Supplemental Information

LEASE EXPIRATIONS


		Total Leased Sq. Ft.			Annualized Rent
Year	Number of Leases Expiring	Amount	Percent (%)		Amount ($) (thousands)		Percent (%)
2023	32	181	5.0	%	$	3,602	3.9	%
2024	60	318	8.8	%	6,583		7.2	%
2025	40	297	8.2	%	7,965		8.7	%
2026	56	513	14.2	%	10,879		11.9	%
2027	38	212	5.9	%	4,413		4.8	%
2028	33	226	6.2	%	3,983		4.3	%
2029	18	243	6.7	%	6,330		6.9	%
2030	15	141	3.9	%	3,704		4.1	%
2031	16	286	7.9	%	7,922		8.6	%
2032	10	126	3.5	%	1,700		1.9	%
Thereafter	41	1,037	28.6	%	33,836		36.9	%
Month-to-Month	13	38	1.1	%	722		0.8	%
Totals	372	3,618	100.0	%	$	91,639	100.0	%

Total portfolio was approximately 91.6% leased in the aggregate at March 31, 2023 with lease expirations ranging from 2023 through 2039.


Community Healthcare Trust			Page \| 16			1Q 2023 \| Supplemental Information

PROPERTY LOCATIONS

Approximately 48% of our property revenues are in MSAs with populations over 1,000,000 and approximately 91% are in MSAs with populations over 100,000.


Property Name	Property Type	Area	% of Square Feet	Annualized Rent ($000's)		% of Annualized Rent	Population	MSA/MISA	Rank
Lancaster MOB	MOB	10,646	0.27%	$	204.7	0.22%	13,200,998	Los Angeles-Long Beach-Anaheim, CA	2
Future Diagnostics Group	SC	8,876	0.22%	$	390.9	0.43%	9,618,502	Chicago-Naperville-Elgin, IL-IN-WI	3
Gurnee Medical Office Building	MOB	22,943	0.58%	$	134.9	0.15%	9,618,502	Chicago-Naperville-Elgin, IL-IN-WI	3
Joliet Oncology-Hematology Associates	PC	7,905	0.20%	$	375.6	0.41%	9,618,502	Chicago-Naperville-Elgin, IL-IN-WI	3
Morris Cancer Center	MOB	18,470	0.47%	$	608.4	0.66%	9,618,502	Chicago-Naperville-Elgin, IL-IN-WI	3
Center for Reconstructive Surgery - Oak Lawn	MOB	33,356	0.84%	$	403.3	0.44%	9,618,502	Chicago-Naperville-Elgin, IL-IN-WI	3
Presence	PC	14,863	0.38%	$	304.7	0.33%	9,618,502	Chicago-Naperville-Elgin, IL-IN-WI	3
Presence Regional Cancer Center	SC	44,888	1.14%	$	1,431.6	1.56%	9,618,502	Chicago-Naperville-Elgin, IL-IN-WI	3
Skin MD	PC	13,565	0.34%	$	500.5	0.55%	9,618,502	Chicago-Naperville-Elgin, IL-IN-WI	3
Chicago Behavioral Hospital	AIB	85,000	2.15%	$	2,139.7	2.33%	9,618,502	Chicago-Naperville-Elgin, IL-IN-WI	3
US HealthVest - Lake	AIB	83,658	2.12%	$	2,920.7	3.19%	9,618,502	Chicago-Naperville-Elgin, IL-IN-WI	3
Texas Rehabilitation Hospital of Fort Worth, LLC	IRF	39,761	1.01%	$	1,988.2	2.17%	7,637,387	Dallas-Fort Worth-Arlington, TX	4
Bayside Medical Center	MOB	50,593	1.28%	$	869.4	0.95%	7,122,240	Houston-The Woodlands-Sugar Land, TX	5
Gessner Road MOB	MOB	14,360	0.36%	$	301.8	0.33%	7,122,240	Houston-The Woodlands-Sugar Land, TX	5
Clear Lake Institute for Rehabilitation	IRF	55,646	1.41%	$	2,913.2	3.18%	7,122,240	Houston-The Woodlands-Sugar Land, TX	5
Northwest Surgery Center	SCH	11,200	0.28%	$	—	—%	7,122,240	Houston-The Woodlands-Sugar Land, TX	5
2301 Research Boulevard	MOB	93,079	2.36%	$	1,987.1	2.17%	6,385,162	Washington-Arlington-Alexandria, DC-VA-MD-WV	6
Haddon Hill Professional Center	MOB	25,118	0.64%	$	247.5	0.27%	6,245,051	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	7
Hopebridge - Westlake	BSF	15,057	0.38%	$	229.6	0.25%	6,245,051	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	7
Continuum Wellness Center	MOB	8,227	0.21%	$	156.9	0.17%	4,845,832	Phoenix-Mesa-Chandler, AZ	11
Desert Endoscopy Center	SCH	11,722	0.30%	$	278.5	0.30%	4,845,832	Phoenix-Mesa-Chandler, AZ	11
Mountain View Surgery Center	SCH	14,046	0.36%	$	547.8	0.60%	4,845,832	Phoenix-Mesa-Chandler, AZ	11
Associated Surgical Center of Dearborn	SCH	12,400	0.31%	$	353.4	0.39%	4,392,041	Detroit-Warren-Dearborn, MI	14
Berry Surgical Center	SCH	27,217	0.69%	$	615.4	0.67%	4,392,041	Detroit-Warren-Dearborn, MI	14
Smokey Point Behavioral Hospital	AIB	70,100	1.77%	$	2,731.8	2.98%	4,018,762	Seattle-Tacoma-Bellevue, WA	15
Sanderling Dialysis	SC	11,300	0.29%	$	414.6	0.45%	3,298,634	San Diego-Chula Vista-Carlsbad, CA	17
Bay Area Physicians Surgery Center	MOB	18,708	0.47%	$	267.3	0.29%	3,175,275	Tampa-St. Petersburg-Clearwater, FL	18
Liberty Dialysis	SC	8,450	0.21%	$	267.9	0.29%	2,963,821	Denver-Aurora-Lakewood, CO	19
Waters Edge Medical	MOB	23,388	0.59%	$	411.1	0.45%	2,844,510	Baltimore-Columbia-Towson, MD	20
Righttime Medical Care	SC	6,236	0.16%	$	330.9	0.36%	2,844,510	Baltimore-Columbia-Towson, MD	20
Eyecare Partners	PC	6,487	0.16%	$	139.0	0.15%	2,820,253	St. Louis, MO-IL	21
Eyecare Partners	PC	5,560	0.14%	$	45.3	0.05%	2,820,253	St. Louis, MO-IL	21


Community Healthcare Trust			Page \| 17			1Q 2023 \| Supplemental Information


Property Name	Property Type	Area	% of Square Feet	Annualized Rent ($000's)		% of Annualized Rent	Population	MSA/MISA	Rank
Eyecare Partners	SCH	16,608	0.42%	$	310.6	0.34%	2,820,253	St. Louis, MO-IL	21
Eyecare Partners	PC	6,311	0.16%	$	49.5	0.05%	2,820,253	St. Louis, MO-IL	21
Bassin Center For Plastic-Surgery-Villages	PC	2,894	0.07%	$	166.0	0.18%	2,673,376	Orlando-Kissimmee-Sanford, FL	22
Bassin Center For Plastic Surgery-Orlando	PC	2,420	0.06%	$	138.8	0.15%	2,673,376	Orlando-Kissimmee-Sanford, FL	22
Kissimmee Physicians Clinic	PC	4,902	0.12%	$	107.1	0.12%	2,673,376	Orlando-Kissimmee-Sanford, FL	22
Orthopaedic Associates of Osceola	PC	15,167	0.38%	$	347.2	0.38%	2,673,376	Orlando-Kissimmee-Sanford, FL	22
Medical Village at Wintergarden	MOB	21,532	0.54%	$	588.9	0.64%	2,673,376	Orlando-Kissimmee-Sanford, FL	22
Baptist Health	PC	13,500	0.34%	$	391.4	0.43%	2,558,143	San Antonio-New Braunfels, TX	24
San Antonio Head & Neck Surgical Associates	PC	6,500	0.16%	$	184.2	0.20%	2,558,143	San Antonio-New Braunfels, TX	24
Butler Medical Center	MOB	10,116	0.26%	$	265.3	0.29%	2,370,930	Pittsburgh, PA	27
Forefront Dermatology Building	MOB	15,650	0.40%	$	332.1	0.36%	2,370,930	Pittsburgh, PA	27
Greentree Primary Care	MOB	34,077	0.86%	$	885.6	0.97%	2,370,930	Pittsburgh, PA	27
Vascular Access Centers of Southern Nevada	SC	4,800	0.12%	$	95.0	0.10%	2,265,461	Las Vegas-Henderson-Paradise, NV	29
Assurance Health System	BSF	14,381	0.36%	$	539.2	0.59%	2,256,884	Cincinnati, OH-KY-IN	30
Cavalier Medical & Dialysis Center	MOB	17,614	0.45%	$	218.2	0.24%	2,256,884	Cincinnati, OH-KY-IN	30
51 Cavalier Blvd	MOB	18,016	0.46%	$	183.4	0.20%	2,256,884	Cincinnati, OH-KY-IN	30
Anderson Ferry Plaza	MOB	43,599	1.10%	$	482.4	0.53%	2,256,884	Cincinnati, OH-KY-IN	30
Everest Rehabilitation Hospital	IRF	37,720	0.95%	$	2,408.8	2.63%	2,256,884	Cincinnati, OH-KY-IN	30
Davita Commercial Way	SC	4,980	0.13%	$	—	—%	2,256,884	Cincinnati, OH-KY-IN	30
Fresenius Florence Dialysis Center	MOB	17,845	0.45%	$	304.3	0.33%	2,256,884	Cincinnati, OH-KY-IN	30
Prairie Star Medical Facility I	MOB	24,724	0.63%	$	906.3	0.99%	2,192,035	Kansas City, MO-KS	31
Prairie Star Medical Facility II	MOB	24,840	0.63%	$	152.8	0.17%	2,192,035	Kansas City, MO-KS	31
Ravines Edge	MOB	16,751	0.42%	$	262.1	0.29%	2,138,926	Columbus, OH	32
Court Street Surgery Center	SCH	7,787	0.20%	$	77.9	0.08%	2,138,926	Columbus, OH	32
Hopebridge - Columbus	BSF	13,969	0.35%	$	170.9	0.19%	2,138,926	Columbus, OH	32
Sedalia Medical Center	MOB	20,043	0.51%	$	318.5	0.35%	2,138,926	Columbus, OH	32
Assurance Health, LLC	BSF	10,200	0.26%	$	362.1	0.40%	2,111,040	Indianapolis-Carmel-Anderson, IN	33
Assurance Health System	BSF	13,722	0.35%	$	495.8	0.54%	2,111,040	Indianapolis-Carmel-Anderson, IN	33
Kindred Hospital Indianapolis North	LTACH	37,270	0.94%	$	1,521.2	1.66%	2,111,040	Indianapolis-Carmel-Anderson, IN	33


Community Healthcare Trust			Page \| 18			1Q 2023 \| Supplemental Information


Property Name	Property Type	Area	% of Square Feet	Annualized Rent ($000's)		% of Annualized Rent	Population	MSA/MISA	Rank
Brook Park Medical Building	MOB	18,444	0.47%	$	392.1	0.43%	2,088,251	Cleveland-Elyria, OH	34
Northern Ohio Regional Cancer Center	MOB	16,802	0.43%	$	310.3	0.34%	2,088,251	Cleveland-Elyria, OH	34
Assurance - Hudson	BSF	13,290	0.34%	$	554.2	0.60%	2,088,251	Cleveland-Elyria, OH	34
Rockside Medical Center	MOB	55,316	1.40%	$	1,002.3	1.09%	2,088,251	Cleveland-Elyria, OH	34
Virginia Orthopaedic & Spine Specialists	PC	8,445	0.21%	$	153.1	0.17%	1,799,674	Virginia Beach-Norfolk-Newport News, VA-NC	37
Genesis Care - Warwick	SC	10,236	0.26%	$	380.8	0.42%	1,676,579	Providence-Warwick, RI-MA	38
South County Hospital	PC	13,268	0.34%	$	311.3	0.34%	1,676,579	Providence-Warwick, RI-MA	38
Ortho Rhode Island - Warwick	PC	7,340	0.19%	$	212.8	0.23%	1,676,579	Providence-Warwick, RI-MA	38
Mercy Rehabilitation Hospital	IRF	39,637	1.00%	$	1,988.2	2.17%	1,425,695	Oklahoma City, OK	41
Memphis Center	MOB	11,669	0.30%	$	227.7	0.25%	1,337,779	Memphis, TN-MS-AR	43
Sanderling Dialysis	SC	10,133	0.26%	$	536.3	0.59%	1,337,779	Memphis, TN-MS-AR	43
Glastonbury	MOB	49,593	1.26%	$	529.8	0.58%	1,213,531	Hartford-East Hartford-Middletown, CT	48
Sterling Medical Center	MOB	28,685	0.73%	$	420.3	0.46%	1,166,902	Buffalo-Cheektowaga, NY	49
Gardendale MOB	MOB	12,956	0.33%	$	317.4	0.35%	1,115,289	Birmingham-Hoover, AL	50
Genesis Care - Southbridge	SC	20,046	0.51%	$	841.3	0.92%	978,529	Worcester, MA-CT	57
Worcester Behavioral	AIB	81,972	2.07%	$	2,651.1	2.89%	978,529	Worcester, MA-CT	57
Los Alamos Professional Plaza	MOB	43,395	1.10%	$	580.3	0.63%	870,781	McAllen-Edinburg-Mission, TX	65
Cardiology Associates of Greater Waterbury	PC	16,793	0.42%	$	310.7	0.34%	864,835	New Haven-Milford, CT	68
Columbia Gastroenterology Surgery Center	MOB	17,016	0.43%	$	304.3	0.33%	829,470	Columbia, SC	72
Davita Turner Road	SC	18,125	0.46%	$	351.2	0.38%	814,049	Dayton-Kettering, OH	73
Davita Springboro Pike	SC	10,510	0.27%	$	182.0	0.20%	814,049	Dayton-Kettering, OH	73
Davita Business Center Court	SC	12,988	0.33%	$	228.4	0.25%	814,049	Dayton-Kettering, OH	73
Genesis Care - Bonita Springs	SC	4,445	0.11%	$	279.7	0.31%	760,822	Cape Coral-Fort Myers, FL	78
Cape Coral Suite 3	SC	12,130	0.31%	$	437.3	0.48%	760,822	Cape Coral-Fort Myers, FL	78
Cape Coral Suite 3A	MOB	2,023	0.05%	$	37.9	0.04%	760,822	Cape Coral-Fort Myers, FL	78
Cape Coral Suite 5 & 6	MOB	6,379	0.16%	$	92.5	0.10%	760,822	Cape Coral-Fort Myers, FL	78
Genesis Care - Fort Myers	SC	46,356	1.17%	$	804.7	0.88%	760,822	Cape Coral-Fort Myers, FL	78
Corporate Office 3660	MOB	22,104	0.56%	$	602.3	0.66%	760,822	Cape Coral-Fort Myers, FL	78
Corporate Annex Building	MOB	16,000	0.40%	$	301.1	0.33%	760,822	Cape Coral-Fort Myers, FL	78
Wildwood Hammock RPET Facility	SC	10,832	0.27%	$	416.6	0.45%	760,822	Cape Coral-Fort Myers, FL	78
Wildwood Hammock - Diagnostic Imaging	SC	9,376	0.24%	$	393.8	0.43%	760,822	Cape Coral-Fort Myers, FL	78


Community Healthcare Trust			Page \| 19			1Q 2023 \| Supplemental Information


Property Name	Property Type	Area	% of Square Feet	Annualized Rent ($000's)		% of Annualized Rent	Population	MSA/MISA	Rank
Wildwood Hammock - Northland	MOB	1,201	0.03%	$	12.6	0.01%	760,822	Cape Coral-Fort Myers, FL	78
Parkway Professional Plaza	MOB	40,918	1.04%	$	739.5	0.81%	725,046	Lakeland-Winter Haven, FL	81
Mercy One Physicians Clinic	PC	17,318	0.44%	$	382.7	0.42%	709,466	Des Moines-West Des Moines, IA	82
Novus Clinic	SCH	14,315	0.36%	$	296.3	0.32%	702,219	Akron, Oh	83
UH Walden Health Center	PC	11,000	0.28%	$	320.5	0.35%	702,219	Akron, Oh	83
UW Health Clinic- Portage	PC	14,000	0.35%	$	325.1	0.35%	680,796	Madison, WI	87
Daytona Medical Office	MOB	20,193	0.51%	$	391.3	0.43%	668,921	Deltona-Daytona Beach-Ormond Beach, FL	90
Debary Professional Plaza	MOB	22,854	0.58%	$	185.6	0.20%	668,921	Deltona-Daytona Beach-Ormond Beach, FL	90
Cypress Medical Center	MOB	39,746	1.01%	$	371.7	0.41%	647,610	Wichita, KS	93
Family Medicine East	PC	16,581	0.42%	$	331.6	0.36%	647,610	Wichita, KS	93
Grene Vision Center	PC	18,681	0.47%	$	314.8	0.34%	647,610	Wichita, KS	93
Perrysburg Medical Arts Building	MOB	25,930	0.66%	$	438.4	0.48%	646,604	Toledo, OH	94
St. Vincent Mercy Medical Center, Inc.	PC	23,368	0.59%	$	319.9	0.35%	646,604	Toledo, OH	94
Assurance - Toledo	BSF	13,290	0.34%	$	520.8	0.57%	646,604	Toledo, OH	94
Granite Circle	MOB	17,164	0.43%	$	236.0	0.26%	646,604	Toledo, OH	94
Bassin Center For Plastic Surgery-Melbourne	PC	5,228	0.13%	$	299.9	0.33%	606,612	Palm Bay-Melbourne-Titusville, FL	96
Penn State Health - Camp Hill	SC	8,400	0.21%	$	173.0	0.19%	591,712	Harrisburg-Carlisle, PA	98
Penn State Health - Harrisburg	SC	10,000	0.25%	$	206.0	0.22%	591,712	Harrisburg-Carlisle, PA	98
Eynon Surgery Center	SCH	6,500	0.16%	$	190.5	0.21%	567,559	Scranton--Wilkes-Barre, PA	100
Riverview Medical Center	MOB	26,199	0.66%	$	440.3	0.48%	567,559	Scranton--Wilkes-Barre, PA	100
NEI	MOB	22,743	0.58%	$	409.4	0.45%	567,559	Scranton--Wilkes-Barre, PA	100
NEI	MOB	15,768	0.40%	$	304.9	0.33%	567,559	Scranton--Wilkes-Barre, PA	100
Grandview Plaza	MOB	20,000	0.51%	$	303.7	0.33%	552,984	Lancaster, PA	102
Pinnacle Health	PC	10,753	0.27%	$	241.2	0.26%	552,984	Lancaster, PA	102
Manteca Medical Group Building	PC	10,564	0.27%	$	304.3	0.33%	552,878	Modesto, CA	103
Everest Rehabilitation Hospital	IRF	38,817	0.98%	$	2,195.8	2.40%	546,725	Fayetteville-Springdale-Rogers, AR	105
Treasure Coast Medical Pavilion	MOB	55,844	1.41%	$	856.0	0.93%	487,657	Port St. Lucie, FL	115
AMG Specialty Hospital - Lafayette	MOB	29,062	0.74%	$	—	—%	478,384	Lafayette, LA	116
Everest Rehabilitation Hospital	IRF	38,817	0.98%	$	2,246.6	2.45%	475,367	Killeen-Temple, TX	118
Genesis Care - Asheville	SC	10,850	0.27%	$	223.2	0.24%	469,015	Asheville, NC	120
Genesis Care - Weaverville	SC	10,696	0.27%	$	443.2	0.48%	469,015	Asheville, NC	120


Community Healthcare Trust			Page \| 20			1Q 2023 \| Supplemental Information


Property Name	Property Type	Area	% of Square Feet	Annualized Rent ($000's)		% of Annualized Rent	Population	MSA/MISA	Rank
Martin Foot & Ankle Clinic	PC	27,100	0.69%	$	414.9	0.45%	456,438	York-Hanover, PA	121
Affinity Health Center	MOB	47,366	1.20%	$	506.7	0.55%	401,574	Canton-Massillon, OH	137
Hills & Dales Professional Center	MOB	27,920	0.71%	$	371.4	0.41%	401,574	Canton-Massillon, OH	137
Prattville Town Center Medical Office Bldg	MOB	13,319	0.34%	$	377.0	0.41%	386,047	Montgomery, AL	142
Wellmont Bristol Urgent Care	SC	4,548	0.12%	$	76.2	0.08%	307,614	Kingsport-Bristol, TN-VA	165
Bristol Pediatric Associates	MOB	10,804	0.27%	$	180.2	0.20%	307,614	Kingsport-Bristol, TN-VA	165
Bluewater Orthopedics Center	MOB	10,255	0.26%	$	215.6	0.24%	286,973	Crestview-Fort Walton Beach-Destin, FL	171
Everest Rehabilitation Hospital	IRF	38,817	0.98%	$	2,246.6	2.45%	286,184	Longview, TX	172
Londonderry Centre	MOB	21,115	0.53%	$	338.8	0.37%	277,547	Waco, TX	176
Meridian Behavioral Health Systems	AIB	132,430	3.35%	$	3,075.3	3.36%	258,859	Charleston, WV	190
Gulf Coast Cancer Centers-Foley	SC	6,146	0.16%	$	169.6	0.19%	231,767	Daphne-Fairhope-Foley, AL	200
Gulf Coast Cancer Centers- Gulf Shores	SC	6,398	0.16%	$	131.8	0.14%	231,767	Daphne-Fairhope-Foley, AL	200
Monroe Surgical Hospital	SCH	58,121	1.47%	$	2,354.5	2.57%	207,104	Monroe, LA	219
Fresenius Ft. Valley	SC	4,920	0.12%	$	98.3	0.11%	191,614	Warner Robins, GA	228
Tuscola Professional Building	MOB	25,500	0.65%	$	610.2	0.67%	190,124	Saginaw, MI	229
Genesis Care - Redding	SC	12,206	0.31%	$	587.5	0.64%	182,155	Redding, CA	233
Kedplasma	SC	12,870	0.33%	$	272.1	0.30%	171,415	Burlington, NC	251
Decatur Morgan Hospital Medical Office Building	MOB	35,933	0.91%	$	579.0	0.63%	156,494	Decatur, AL	268
Provena Medical Center	MOB	54,894	1.39%	$	660.8	0.72%	107,502	Kankakee, IL	346
Parkside Family & Davita Clinics	MOB	15,637	0.40%	$	215.5	0.24%	98,331	Victoria, TX	361
Cub Lake Square	MOB	49,059	1.24%	$	1,113.6	1.21%	106,717	Show Low, AZ	N/A
Cub Lake Square - Building B	MOB	—	0.00%	$	—	—%	106,717	Show Low, AZ	N/A
Cub Lake Square - Building C	MOB	—	0.00%	$	—	—%	106,717	Show Low, AZ	N/A
Emory Healthcare	MOB	61,301	1.55%	$	846.6	0.92%	104,198	LaGrange, GA-AL	N/A
Emory Southern Orthopedics	MOB	31,473	0.80%	$	688.7	0.75%	104,198	LaGrange, GA-AL	N/A
Emory Southern Orthopedics	MOB	2,972	0.08%	$	59.1	0.06%	104,198	LaGrange, GA-AL	N/A
Emory Healthcare	MOB	5,600	0.14%	$	77.3	0.08%	104,198	LaGrange, GA-AL	N/A
Marion Medical Plaza	MOB	27,246	0.69%	$	346.1	0.38%	65,359	Marion, OH	N/A
Fresenius Gallipolis Dialysis Center	SC	15,110	0.38%	$	159.3	0.17%	54,673	Point Pleasant, WV-OH	N/A
Davita Etowah Dialysis Center	SC	4,720	0.12%	$	67.4	0.07%	53,276	Athens, TN	N/A
Fresenius Dialysis Center	MOB	17,746	0.45%	$	347.3	0.38%	52,624	Corsicana, TX	N/A


Community Healthcare Trust			Page \| 21			1Q 2023 \| Supplemental Information


Property Name	Property Type	Area	% of Square Feet	Annualized Rent ($000's)		% of Annualized Rent	Population	MSA/MISA	Rank
Davita Dialysis	MOB	12,545	0.32%	$	447.4	0.49%	51,591	Pahrump, NV	N/A
Arkansas Valley Surgery Center	MOB	10,853	0.27%	$	257.3	0.28%	48,939	Cañon City, CO	N/A
Sanford West Behavioral Facility	BSF	96,886	2.45%	$	1,287.0	1.40%	45,014	Grand Rapids, MN	N/A
Wellmont Norton Urgent Care	SC	4,843	0.12%	$	56.8	0.06%	39,817	Big Stone Gap, VA	N/A
Wellmont Associates Complex	MOB	32,757	0.83%	$	353.0	0.39%	39,817	Big Stone Gap, VA	N/A
Eyecare Partners	PC	8,421	0.21%	$	134.3	0.15%	37,729	Centralia, IL	N/A
Fremont Medical Office Building & Surgery Ctr	MOB	13,050	0.33%	$	321.8	0.35%	37,167	Fremont, NE	N/A
Gulf Coast Cancer Centers-Brewton	SC	3,971	0.10%	$	109.6	0.12%	36,757	Atmore, AL	N/A
Baylor Scott & White Clinic	PC	37,354	0.95%	$	485.8	0.53%	35,805	Brenham, TX	N/A
Ottumwa Medical Clinic	MOB	68,895	1.74%	$	726.1	0.79%	35,437	Ottumwa, IA	N/A
Ottumwa Medical Clinic	MOB	6,850	0.17%	$	111.2	0.12%	35,437	Ottumwa, IA	N/A
Sanderling Dialysis Center	SC	4,186	0.11%	$	295.1	0.32%	27,743	Crescent City, CA	N/A
Russellville Medical Plaza	MOB	29,129	0.74%	$	158.9	0.17%	County: 31,362	Rural - No CBSA	N/A
Genesis Care - Andalusia	SC	10,373	0.26%	$	394.2	0.43%	County: 37,049	Rural - No CBSA	N/A
Lexington Carilion Clinic	PC	15,820	0.40%	$	369.3	0.40%	County: 22,573	Rural - No CBSA	N/A
Dahlonega Medical Mall	MOB	22,804	0.58%	$	280.8	0.31%	County: 33,610	Rural - No CBSA	N/A
Batesville Regional Medical Center	MOB	9,263	0.23%	$	48.1	0.05%	County: 34,192	Rural - No CBSA	N/A
Tri Lakes Behavioral	BSF	58,400	1.48%	$	527.0	0.57%	County: 34,192	Rural - No CBSA	N/A
North Mississippi Health Services	MOB	17,629	0.45%	$	91.6	0.10%	County: 35,252	Rural - No CBSA	N/A
North Mississippi Health Services	MOB	27,743	0.70%	$	144.2	0.16%	County: 35,252	Rural - No CBSA	N/A
North Mississippi Health Services	MOB	18,074	0.46%	$	93.9	0.10%	County: 35,252	Rural - No CBSA	N/A
North Mississippi Health Services	MOB	9,890	0.25%	$	51.4	0.06%	County: 35,252	Rural - No CBSA	N/A
Genesis Care - Princeton	SC	7,236	0.18%	$	198.5	0.22%	County: 58,758	Rural - No CBSA	N/A
Sanderling Dialysis Center	SC	5,217	0.13%	$	270.7	0.30%	County: 13,279	Rural - No CBSA	N/A
North Mississippi Health Services	MOB	3,378	0.09%	$	17.6	0.02%	City: 5,205; County: 35,252	Rural - No CBSA	N/A
Rettig Family Healthcare	PC	12,000	0.30%	$	180.0	0.20%	County: 23,437	Rural - No CBSA	N/A
Wellmont Lebanon Urgent Care	SC	8,369	0.21%	$	104.6	0.11%	County: 26,586	Rural - No CBSA	N/A


Community Healthcare Trust			Page \| 22			1Q 2023 \| Supplemental Information

REPORTING DEFINITIONS

Acute Inpatient Behavioral Facilities (AIB)

Behavioral inpatient acute care facilities are healthcare facilities that provide a range of clinical services for mental health and/or substance abuse diagnoses on an inpatient basis. Behavioral health services provided may include assessment, treatment, individual medical evaluation and management (including medication management), individual and group therapy, behavioral health counseling, family therapy and psychological testing for recipients of all ages.

AFFO, Adjusted for Acquisitions

AFFO, Adjusted for Acquisitions, adjusts AFFO to show the impact of the real estate properties acquired in the period as if they had been acquired on the first day of the reporting period, using the expected returns and in-place leases at the time of the acquisition. The Company believes that AFFO, Adjusted for Acquisitions, is useful because it allows investors, analysts and Company management visibility into the impact on the Company's results of operations in future reporting periods resulting from its current period acquisitions.

Annualized Rent

Base rent for the current month multiplied by 12.

Behavioral Specialty Facilities (BSF)

Behavioral specialty facilities are healthcare facilities that provide a range of clinical services for mental health and/or substance abuse diagnoses. Behavioral health services provided may include assessment, treatment, individual medical evaluation and management (including medication management), individual and group therapy, behavioral health counseling, family therapy and psychological testing for recipients of all ages.

EBITDAre and Adjusted EBITDAre

The Company uses the National Association of Real Estate Investment Trusts, Inc. ("NAREIT") definition of EBITDAre which is net income plus interest expense, income tax expense, and depreciation and amortization, plus losses or minus gains on the disposition of depreciable property, including losses/gains on change of control, plus impairment write-downs of depreciable property and of investments in unconsolidated affiliates caused by a decrease in value of depreciable property in the affiliate, plus or minus adjustments to reflect the entity's share of EBITDAre of unconsolidated affiliates and consolidated affiliates with non-controlling interest. The Company also presents Adjusted EBITDAre which is EBITDAre before non-cash stock-based compensation amortization.

We consider EBITDAre and Adjusted EBITDAre important measures because they provide additional information to allow management, investors, and our current and potential creditors to evaluate and compare our core operating results and our ability to service debt.

Funds from Operations (FFO) and Adjusted Funds from Operations (AFFO)

Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. However, since real estate values have historically risen or fallen with market conditions, many industry investors deem presentations of operating results for real estate companies that use historical cost accounting to be insufficient by themselves. For that reason, the Company considers funds from operations ("FFO") and adjusted funds from operations ("AFFO") to be appropriate measures of operating performance of an equity real estate investment trust ("REIT"). In particular, the Company believes that AFFO is useful because it allows investors, analysts and Company management to compare the Company's operating performance to the operating performance of other real estate companies and between periods on a consistent basis without having to account for differences caused by unanticipated items and other events.


Community Healthcare Trust			Page \| 23			1Q 2023 \| Supplemental Information

REPORTING DEFINITIONS (continued)

The Company uses the NAREIT definition of FFO. FFO is an operating performance measure adopted by NAREIT. NAREIT defines FFO as the most commonly accepted and reported measure of a REIT’s operating performance equal to net income (calculated in accordance with GAAP), excluding gains or losses from the sale of certain real estate assets, gains and losses from change in control, impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity, plus depreciation and amortization related to real estate properties, and after adjustments for unconsolidated partnerships and joint ventures. NAREIT also provides REITs with an option to exclude gains, losses and impairments of assets that are incidental to the main business of the REIT from the calculation of FFO. The Company has included AFFO which it has defined as FFO, excluding certain expenses related to closing costs of properties acquired accounted for as business combinations and mortgages funded, excluding straight-line rent and the amortization of stock-based compensation, and including or excluding other non-cash items from time to time. AFFO presented herein may not be comparable to similar measures presented by other real estate companies due to the fact that not all real estate companies use the same definition.

FFO and AFFO should not be considered as alternatives to net income (determined in accordance with GAAP) as indicators of the Company's financial performance or as alternatives to cash flow from operating activities

(determined in accordance with GAAP) as measures of the Company’s liquidity, nor are they necessarily indicative of sufficient cash flow to fund all of the Company’s needs. The Company believes that in order to facilitate a clear understanding of the consolidated historical operating results of the Company, FFO and AFFO should be examined in conjunction with net income as presented elsewhere herein.

Inpatient Rehabilitation Facilities (IRF)

Inpatient rehabilitation facilities are free standing rehabilitation hospitals, or may be units within an acute care hospital, that provide intensive rehabilitation programs to patients.

Long-Term Acute Care Hospitals (LTACH)

Long-term acute care hospitals provide inpatient services for patients with complex medical conditions who require more sensitive care, monitoring or emergency support than that available in most skilled nursing facilities.

Medical Office Building (MOB)

Medical office buildings are buildings occupied by healthcare providers and may be located near hospitals or other facilities where healthcare services are rendered or in close proximity to a population base. Medical office buildings can be leased to physicians, physician practice groups, hospitals, healthcare systems or other healthcare providers.

Metropolitan Statistical Area (MSA or MISA)

MSAs or MISAs are geographical regions with relatively higher population densities at their core and have close economic ties throughout their area. MSAs and MISAs are defined by the Office of Management and Budget.

Net Operating Income (NOI)

NOI is a non-GAAP financial measure that is defined as net income or loss, computed in accordance with GAAP, generated from our total portfolio of properties and other investments before general and administrative expenses, depreciation and amortization expense, gains or loss on the sale of real estate properties or other investments, interest expense, and income tax expense. We believe that NOI provides an accurate measure of operating performance of our operating assets because NOI excludes certain items that are not associated with management of the properties. CHCT's use of the term NOI may not be comparable to that of other real estate companies as they may have different methodologies for computing NOI.


Community Healthcare Trust			Page \| 24			1Q 2023 \| Supplemental Information

REPORTING DEFINITIONS (continued)

Physician Clinics (PC)

Physician clinics are freestanding healthcare facilities that are primarily devoted to the care of ambulatory patients, can be privately operated or publicly managed and funded, and typically provide primary healthcare needs of populations in local communities utilizing physicians and other healthcare providers.

Specialty Centers (SC)

Specialty centers include various types of centers which may, among others, include oncology centers, dialysis centers, urgent care centers, and blood plasma centers.

Surgical Centers and Hospitals (SCH)

Surgical centers and hospitals may include outpatient surgery centers where surgical procedures not requiring an overnight hospital stay are performed; as well as specialty hospitals that focus on providing care for certain conditions and performing certain procedures, such as cardiovascular and orthopedic surgery.

Total Capitalization

Debt plus stockholders' equity plus accumulated depreciation.


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DISCLAIMERS

FORWARD-LOOKING STATEMENTS

Certain statements made in this supplemental information package constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)). In particular, statements pertaining to our capital resources, portfolio performance and results of operations contain forward-looking statements. Likewise, our statements regarding anticipated market conditions are forward-looking statements. You can identify forward-looking statements by the use of forward-looking terminology such as "believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” "outlook," "continue," "projects," “estimates” or “anticipates” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans, expectations, or intentions.

Forward-looking statements reflect the views of our management regarding current expectations and projections about future events and are based on currently available information. These forward-looking statements are not guarantees of future performance and involve numerous risks and uncertainties and you should not rely on them as predictions of future events. Forward-looking statements depend on assumptions, data, or methods which may be incorrect or imprecise and we may not be able to realize them.

While forward-looking statements reflect our good faith beliefs, they are not guarantees of future performance. We disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes after the date of this supplemental information package, except as required by applicable law. You should not place undue reliance on any forward-looking statements that are based on information currently available to us or the third parties making the forward-looking statements. For a discussion of factors that could impact our future results, performance or transactions, see Part I, Item 1A (Risk Factors) of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and the Company’s other filings with the Securities and Exchange Commission from time to time.

NON-GAAP FINANCIAL MEASURES

This presentation includes EBITDAre, Adjusted EBITDAre, Adjusted EBITDAre Annualized, Net Operating Income (or NOI), Funds From Operations (or FFO), Adjusted Funds From Operations (or AFFO), and AFFO, Adjusted for Acquisitions, which are non-GAAP financial measures. For purposes of the Securities and Exchange Commission’s (“SEC”) Regulation G, a non-GAAP financial measure is a numerical measure of a company’s historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable financial measure calculated and presented in accordance with GAAP in the statements of operations, balance sheets or statements of cash flows (or equivalent statements) of the company, or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable financial measure so calculated and presented. As used in this presentation, GAAP refers to generally accepted accounting principles in the United States of America. Our use of the non-GAAP financial measure terms herein may not be comparable to that of other real estate investment trusts. Pursuant to the requirements of Regulation G, we have provided reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures.


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