National Healthcare Properties Establishes $300M At-The-Market Equity Offering Program

On November 10, 2026, National Healthcare Properties, Inc. (the "Company") and National Healthcare Properties Operating Partnership, L.P. (the "Operating Partnership") entered into an ATM Equity Offering Sales Agreement (the "Equity Sales Agreement") with BMO Capital Markets Corp., Citizens JMP Securities, LLC, Credit Agricole Securities (USA) Inc., Fifth Third Securities, Inc., Goldman Sachs & Co. LLC, Hancock Whitney Investment Services, Inc., Huntington Securities, Inc., KeyBanc Capital Markets Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, Robert W. Baird & Co. Incorporated, Synovus Securities, Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC, as sales agents, principals and/or (except in the case of Fifth Third Securities, Inc., Hancock Whitney Investment Services, Inc. and Synovus Securities, Inc.) Forward Sellers (as defined below) (in any such capacity, each an "Agent," and, collectively, the "Agents"), and the Forward Purchasers (as defined below). Pursuant to the Equity Sales Agreement, shares of the Company’s common stock, $0.01 par value per share (the "common stock"), having an aggregate gross sales price of up to $300.0 million (the "Shares") may be offered and sold from time to time. Pursuant to the terms of the Equity Sales Agreement, the Agents will act as the Company’s sales agents or, when acting as forward sellers (except in the case of Fifth Third Securities, Inc., Hancock Whitney Investment Services, Inc. and Synovus Securities, Inc.), as agents for the relevant Forward Purchaser, in connection with any offerings of Shares. The Company may also sell Shares to an Agent as principal for its own account. Affiliates of certain of the Agents are lenders under the Company’s $750 million senior unsecured revolving credit facility, $300 million senior unsecured term loan facility and $150 million senior unsecured delayed draw term loan facility, in each case pursuant to the Amended and Restated Credit Agreement, dated August 3, 2026, by and among the Company, as guarantor, the Operating Partnership, as borrower, Wells Fargo Bank, National Association, as administrative agent, and the other lenders party thereto.

In connection with the entry into the Equity Sales Agreement, on November 10, 2026, the Company filed with the Securities and Exchange Commission (the "SEC") a prospectus supplement (the "Prospectus Supplement"), to the prospectus dated August 7, 2026, contained in the Company’s effective Registration Statement on Form S-3 (File No. 333-298131), relating to the offer and sale of shares of the Company’s common stock having an aggregate gross sales price of up to $300 million pursuant to the Equity Sales Agreement.