Announcement regarding Craig Mitchell made on TSX

VITAL HEALTHCARE PROPERTY TRUST vhpt.co.nz
Managed by Northwest Healthcare
Properties Management Limited
Page 1 of 1




9 October 2024
Announcement regarding Craig Mitchell made on the Toronto Stock Exchange
Northwest Healthcare Properties Management Limited, the manager of Vital Healthcare
Property Trust refers to the attached announcement of Northwest Healthcare Properties
REIT (TSX: NWH.UN) made today on the Toronto Stock Exchange.
– ENDS –
ENQUIRIES
Aaron Hockly
Fund Manager, Vital Healthcare Property Trust
Tel 09 973 7301, Email aaron.hockly@nwhreit.com
Michael Groth
Chief Financial Officer, Northwest Healthcare Properties Management Limited
Tel +61 409 936 104, Email michael.groth@nwhreit.com
About Vital (NZX code VHP):
Vital Healthcare Property Trust is an NZX-listed fund that invests in high-quality healthcare properties
in New Zealand and Australia including private hospitals (~83%* of portfolio value) and ambulatory
care facilities (~17%* of portfolio value).
Vital is the leading specialist listed landlord of healthcare property in Australasia.
Vital is managed by Northwest Healthcare Properties Management Limited, a subsidiary of Toronto
Stock Exchange listed Northwest Healthcare Properties REIT, a global owner and manager of
healthcare property ( https://www.nwhproperties.com.au/).
For more information, visit our website: www.vhpt.co.nz
__________________________________
* All figures are indicative, as at 30 June 2024

---

Northwest Healthcare Properties REIT Announces CEO Craig Mitchell’s Planned
Retirement in Mid-2025 and Commences Search for Successor

Toronto, Ontario (October 8, 2024) – Northwest Healthcare Properties Real Estate Investment Trust
(TSX: NWH.UN) (the ‘REIT’ or ‘Northwest’), a leading owner and operator of healthcare real estate
infrastructure in North America, Brazil, Europe and Australasia, today announces Chief Executive
Officer, Craig Mitchell, has advised the Board of his intention to retire in mid-2025. The REIT has
commenced a recruitment search, assisted by a professional executive recruitment firm and led by the
Board’s Compensation, Governance and Nominating Committee, to ensure a seamless transition and
onboarding of Craig’s successor.

Since joining Northwest over seven years ago, initially leading the Australian and New Zealand business
to become the largest healthcare REIT in market, Craig expanded his role as Global President in charge
of Property in all markets. He assumed the CEO position in August 2023, and successfully steered the
REIT through its recently concluded Strategic Review process.

Craig will continue as CEO through Q2 2025, focusing on executing the REIT’s new strategy, further
strengthening the balance sheet, simplifying the business, and ensuring a smooth leadership transition.
Following his retirement, Craig will remain on the Board of New Zealand Stock Exchange listed Vital
Healthcare Property Trust as a Northwest representative throughout 2025 to support continuity in the
Australasia region.

Board Chair, Dale Klein, commented: “Craig has shown outstanding leadership at Northwest, navigating
the REIT through a comprehensive strategic review, spearheading significant transactions, and
strengthening our leadership team. His dedication, including an extensive travel schedule, has been
integral to our success. The Board greatly appreciates Craig’s commitment and the platform he has
established. We look forward to his ongoing contributions through 2025 and a smooth transition in
leadership.”

“One of the key reasons for my decision to retire in mid-2025 is my expectation that our turnaround
will be completed by then, allowing for a smooth transition to new leadership. I’ve had the privilege of
working with many incredible people during my time at Northwest and am deeply proud of the
healthcare business we’ve built together. I’m also thankful to our unitholders who have supported us
through many changes and believe in the long-term value of our business. With a strong leadership
team in place, Northwest is well-positioned for continued success.”

About Northwest

Northwest provides investors with access to a portfolio of high-quality international healthcare real
estate infrastructure comprised as at August 13, 2024, of interests in a diversified portfolio of 186
income-producing properties and 16.1 million square feet of gross leasable area located throughout
major markets in North America, Brazil, Europe and Australasia. The REIT’s portfolio of medical office
buildings, clinics, and hospitals is characterized by long-term indexed leases and stable occupancies.
Northwest leverages its global workforce in eight countries to serve as a long-term real estate partner
to leading healthcare operators. For additional information please visit: www.nwhreit.com.

Contacts:

Craig Mitchell, CEO, Craig.Mitchell@nwhreit.com,

Stephanie Karamarkovic, CFO, Stephanie.Karamarkovic@nwhreit.com,

Alyssa Barry, Investor Relations, Alyssa.Barry@nwhreit.com, investors@nwhreit.com, (416) 366-2000
Ext. 2202

Forward-Looking Statements

This press release may contain forward-looking statements with respect to the REIT, its operations,
strategy, financial performance and condition. These statements generally can be identified by use of
forward-looking words such as ‘may’, ‘will’, ‘expect’, ‘estimate’, ‘anticipate’, ‘intends’, ‘believe’,
‘normalized’, ‘contracted’, or ‘continue’ or the negative thereof or similar variations. Examples of such
statements in this press release may include Craig’s intended retirement date, his expectations
regarding the REIT’s turnaround and the REIT’s positioning for continued success. The REIT’s actual
results and performance discussed herein could differ materially from those expressed or implied by
such statements. The forward-looking statements contained in this press release are based on
numerous assumptions which may prove incorrect and which could cause actual results or events to
differ materially from the forward-looking statements. Such forward-looking statements are qualified
in their entirety by the inherent risks and uncertainties surrounding future expectations, including that
the timing and circumstances relating to Craig’s retirement may change, the REIT may not be able to
hire a suitable successor, and the factors described under ‘Risks and Uncertainties’ in the REIT’s Annual
Information Form and the risks and uncertainties set out in the MD&A which are available on SEDAR+
at www.sedarplus.ca.

These cautionary statements qualify all forward-looking statements attributable to the REIT and
persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of
the date of this press release, and, except as expressly required by applicable law, the REIT assumes no
obligation to update such statements.