EX-99.2 3 a20190930ex992.htm EXHIBIT 99.2 a20190930ex992
EXHIBIT 99.2


 
Table of Contents Company Overview Company Information 3 Quarter and Year-to-Date Highlights 6 Financial Highlights 8 Company Snapshot 9 Financial Statements Condensed Consolidated Balance Sheets 10 Condensed Consolidated Statements of Operations 11 Condensed Consolidated Statements of Cash Flows 12 Financial Information FFO, Normalized FFO, Normalized FAD and Adjusted EBITDAre 13 Debt Composition and Maturity Schedule 14 Capitalization and Covenants 15 Portfolio Information Same-Property Performance and NOI 16 Investment Activity 17 Development/Redevelopment Summary and Property Capital Expenditures 18 Key Markets/Top 75 MSA Concentration and Regional Portfolio Distribution 19 Portfolio Diversification by Type, Historical Campus Proximity and Tenant Specialty 20 New and Renewal Leasing Activity, Historical Leased Rate and Tenant Lease Expirations 21 Top MOB Tenants and Ownership Interests 22 Reporting Definitions 23 Forward-Looking Statements: Certain statements contained in this report constitute forward-looking statements within the meaning of the safe harbor from civil liability provided for such statements by 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, or the Exchange Act). Such statements include, in particular, statements about our plans, strategies, prospects and estimates regarding future medical office building market performance. Additionally, such statements are subject to certain risks and uncertainties, as well as known and unknown risks, which could cause actual results to differ materially and in adverse ways from those projected or anticipated. Therefore, such statements are not intended to be a guarantee of our performance in future periods. Forward-looking statements are generally identifiable by the use of such terms as “expect,” “project,” “may,” “should,” “could,” “would,” “intend,” “plan,” “anticipate,” “estimate,” “believe,” “continue,” “opinion,” “predict,” “potential,” “pro forma” or the negative of such terms and other comparable terminology. Readers are cautioned not to place undue reliance on these forward-looking statements. We cannot guarantee the accuracy of any such forward-looking statements contained in this report, and we do not intend to publicly update or revise any forward- looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Any such forward-looking statements reflect our current views about future events, are subject to unknown risks, uncertainties, and other factors, and are based on a number of assumptions involving judgments with respect to, among other things, future economic, competitive and market conditions, all of which are difficult or impossible to predict accurately. To the extent that our assumptions differ from actual results, our ability to meet such forward-looking statements, including our ability to generate positive cash flow from operations, provide dividends to stockholders, and maintain the value of our real estate properties, may be significantly hindered. Forward-looking statements express expectations of future events. All forward-looking statements are inherently uncertain as they are based on various expectations and assumptions concerning future events and they are subject to numerous known and unknown risks and uncertainties that could cause actual events or results to differ materially from those projected. Due to these inherent uncertainties, our stockholders are urged not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date made. In addition, we undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to projections over time, except as required by law. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additional information concerning us and our business, including additional factors that could materially affect our financial results, is included herein and in our filings with the SEC. 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 2


 
Company Information Healthcare Trust of America, Inc. (NYSE: HTA) is the largest dedicated owner and operator of medical office buildings (“MOBs”) in the United States, comprising approximately 23.7 million square feet of gross leasable area (“GLA”), with $7.0 billion invested primarily in MOBs. HTA provides real estate infrastructure for the integrated delivery of healthcare services in highly-desirable locations. Investments are targeted to build critical mass in 20 to 25 leading gateway markets that generally have leading university and medical institutions, which translates to superior demographics, high-quality graduates, intellectual talent and job growth. The strategic markets HTA invests in support a strong, long-term demand for quality medical office space. HTA utilizes an integrated asset management platform consisting of on-site leasing, property management, engineering and building services, and development capabilities to create complete, state of the art facilities in each market. This drives efficiencies, strong tenant and health system relationships, and strategic partnerships that result in high levels of tenant retention, rental growth and long-term value creation. Headquartered in Scottsdale, Arizona, HTA has developed a national brand with dedicated relationships at the local level. Founded in 2006 and listed on the New York Stock Exchange in 2012, HTA has produced attractive returns for its stockholders that have outperformed the S&P 500 and US REIT index. More information about HTA can be found on the Company’s Website (www.htareit.com), Facebook, LinkedIn, Instagram and Twitter. Senior Management Scott D. Peters I Chairman, Chief Executive Officer and President Robert A. Milligan I Chief Financial Officer, Secretary and Treasurer Amanda L. Houghton I Executive Vice President - Asset Management David A. Gershenson I Chief Accounting Officer Caroline E. Chiodo I Senior Vice President - Acquisitions and Development David W. Chung I Senior Vice President - Development Brock J. Cusano I Vice President - Operations Contact Information Corporate Headquarters Healthcare Trust of America, Inc. I NYSE: HTA 16435 North Scottsdale Road, Suite 320 Scottsdale, Arizona 85254 480.998.3478 www.htareit.com Follow Us: Investor Relations Robert A. Milligan I Chief Financial Officer, Secretary and Treasurer 16435 North Scottsdale Road, Suite 320 Scottsdale, Arizona 85254 480.998.3478 info@htareit.com Transfer Agent Computershare P.O. Box 505000 Louisville, KY 40233 888.801.0107 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 3


 
HTA: LARGEST DEDICATED OWNER OF MEDICAL OFFICES $7.0B 23M+ SF 207% BBB/Baa2 GROSS LARGEST TOTAL SHAREHOLDER INVESTMENT GRADE INVESTMENTS ON-CAMPUS OWNER RETURNS BALANCE SHEET (Since December 2006) BEST IN CLASS PORTFOLIO FOCUSED IN 20-25 KEY MARKETS 9 MARKETS ~ 1M+ SF 15 MARKETS > 500K SF Full-Service Investment Grade Operating Platform Focus and Scale Diversification Balance Sheet Best-in-Class Fully 94% of Portfolio in 438 Buildings throughout BBB/Baa2 Integrated Operations Key Markets & 33 States Standard & Poor’s/Moody’s Management Top 75 MSAs Credit Rating Top Tenant < 4.7% of ABR Property Management Platform with Scale Creates: 5.7x Top Market < 10.4% of ABR Net Debt/ Leasing Local Expertise Adjusted EBITDAre Size & Diversification provides Facilities & Engineering Strong Relationships stability of cash flows $1.0B Liquidity Construction & Development Operational Benefits Access to Better Performing Markets 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 4


 
FINANCIAL PERFORMANCE: DECADE OF VALUE CREATION Normalized FFO/Share Same Store Growth $0.45 4% 3.3% 3.3% $0.42 $0.42 $0.42 3.2% 3.1% 3.1% 3.1% 3.1% 2.9% 3.0% 3.0% 3.0% HTA $0.41 $0.41 $0.41 $0.41 $0.41 $0.41 2.9% 2.9% 2.9% 3% 2.8% Avg. $0.40 $0.40 $0.40 $0.40 $0.40 2.7% 2.7% 2.6% 2.5% 2.5% $0.40 $0.39 $0.39 $0.39 2.3% 2.6% $0.38 REIT MOB $0.37 $0.37 2% Avg. $0.35 1% $0.30 0% 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 DELIVERING SHAREHOLDER VALUE 8.8% Annualized Average Total Returns Since First Distribution in 2006 to September 30, 2019 Top MOB Tenants Steady & Reliable Dividend $0.32 » AdventHealth » Harbin Clinic $0.315 $0.310 » Ascension » HCA Healthcare $0.305 » Atrium Health » Highmark-Allegheny Health Network $0.300 $0.30 $0.295 » Baylor Scott & White Health » Mercy Health $0.290 » Boston Medical Center » Providence St. Joseph Health » CommonSpirit Health » Steward Health Care $0.28 » Community Health Network » Tenet Healthcare Corporation » Community Health Systems » UNC Health Care $0.26 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 5


 
Company Overview Highlights Third Quarter 2019: • Net (Loss) Attributable to Common Stockholders was $(8.5) million, or $(0.04) per diluted share, including a $21.6 million, or $(0.10) per diluted share, loss related to the extinguishment of debt. This compares to $173.0 million, or $0.82 per diluted share, including a $166.4 million, or $0.79 per diluted share, gain on sale of real estate in Q3 2018. • Funds From Operations (“FFO”), as defined by the National Association of Real Estate Investment Trusts (“NAREIT”), was $65.0 million, or $0.31 per diluted share, for Q3 2019. Due to the adoption of Topic 842, initial direct costs are now reported in general and administrative expenses. For Q3 2018, HTA capitalized approximately $1.5 million of initial direct costs. • Normalized FFO was $87.1 million, or $0.42 per diluted share, for Q3 2019. • Normalized Funds Available for Distribution (“FAD”) was $70.9 million for Q3 2019. • Same-Property Cash Net Operating Income (“NOI”) increased $2.8 million, or 2.5%, to $113.2 million, compared to Q3 2018. • Leasing: HTA’s portfolio had a leased rate of 90.6% by gross leasable area (“GLA”) and an occupancy rate of 89.7% by GLA for Q3 2019. During Q3 2019, HTA executed approximately 0.7 million square feet of GLA of new and renewal leases. Re- leasing spreads increased to 2.7% and tenant retention for the Same-Property portfolio was 86% by GLA for Q3 2019. Year-to-Date 2019: • Net Income Attributable to Common Stockholders was $21.2 million, or $0.10 per diluted share, a decrease of $(0.84) per diluted share, compared to 2018. • FFO, as defined by NAREIT, was $232.5 million, or $1.11 per diluted share, for 2019. For 2018, HTA capitalized approximately $3.7 million of initial direct costs. • Normalized FFO was $255.4 million, or $1.22 per diluted share, for 2019. • Normalized FAD was $217.2 million for 2019. • Same-Property Cash NOI increased $9.0 million, or 2.7%, to $336.1 million, compared to 2018. • Leasing: During the nine months ended September 30, 2019, HTA executed approximately 2.6 million square feet of GLA of new and renewal leases, or over 11.0% of the total GLA of its portfolio. Re-leasing spreads increased to 3.6% and tenant retention for the Same-Property portfolio was 85% by GLA year-to-date. Balance Sheet and Capital Markets • Balance Sheet: HTA ended Q3 2019 with total liquidity of $1.0 billion, inclusive of $12.7 million of cash and cash equivalents. HTA also had total leverage of (i) 30.0%, measured as debt less cash and cash equivalents to total capitalization, and (ii) 5.7x, measured as debt less cash and cash equivalents to Adjusted Earnings before Interest, Taxes, Depreciation and Amortization for real estate (“Adjusted EBITDAre”). • Equity: In September 2019, HTA settled its forward equity sale under its at-the-market (“ATM”) offering program in June 2019. As part of this sale, HTA issued approximately 1.8 million shares of common stock and received net proceeds of approximately $51.8 million, adjusted for costs to borrow. • Debt: In September 2019, Healthcare Trust of America Holdings, LP (“HTALP”) and HTA issued $900.0 million in senior, unsecured notes with a weighted average interest rate of 3.04% per annum and a weighted maturity of 9.5 years. The issuance included $650.0 million in new 3.10% Senior Notes due 2030, and an additional issuance of $250.0 million in HTA's existing 3.50% Senior Notes due 2026 at a yield to maturity of 2.89%. Net proceeds from the issuance were used to redeem the $300.0 million in 3.375% Senior Notes due 2021 and the $400.0 million in 2.95% Senior Notes due 2022, and to pay down the unsecured revolving credit facility. As part of these repayments, HTA incurred debt extinguishment costs of approximately $21.6 million. Noteworthy 2019 Activities • Investments: In the quarter, HTA closed on approximately $128.5 million of investments totaling approximately 296,000 square feet of GLA, with expected year-one contractual yields of approximately 5.6%, before operating synergies. These investments are approximately 95% occupied and are primarily located in HTA’s existing key markets. HTA also closed on a parcel of land adjacent to its Pavilion III MOB development for $7.0 million. The Q3 2019 acquisitions are highlighted by the following: ◦ Third Street Medical Center: A Class A on-campus medical office building (“MOB”) located adjacent to the St. Vincent’s Medical Center in the heart of downtown Los Angeles, CA. We acquired the 147,000 square foot MOB in August for $85.0 million. It is approximately 90% leased and will be operated by HTA’s internal asset management platform. The building includes well-respected tenants including UCLA Health, Children's Hospital Los Angeles and internationally renowned House Ear Institute. 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 6


 
Company Overview Noteworthy 2019 Activities - Continued • For the year, HTA has now closed $221 million of investments and a land purchase of $7.0 million totaling approximately 559,000 square feet of GLA, with expected year-one contractual yields of approximately 5.8%, before operating synergies. These properties were approximately 91% occupied as of closing, and are located within HTA's key markets. Over 70% of these properties are located on or adjacent to hospital campuses, and, all were acquired on a fee-simple basis. • In addition, as of October 28, 2019, HTA has an additional $199 million of investments that have closed or are under exclusive contract, which are subject to customary closing conditions. • Developments: In September 2019, HTA reached agreements to develop two new on-campus MOBs with anticipated costs of approximately $85 - $90 million totaling approximately 190,000 square feet of GLA. The new development projects are expected to be more than 73% pre-leased with anticipated yields over 6.5%. These projects include the following: ◦ Pavilion III MOB (Dallas, TX). A Class A MOB located on the new Medical City Heart Hospital and Spine Hospital campus (formerly Forest Park) totaling approximately 107,000 square feet of GLA. Construction is expected to begin in Q4 2019 and is expected to be completed by Q1 2021 at an anticipated cost of approximately $55 - $60 million, including structured parking. This fee-simple development will support the recent expansion of this health system campus that will provide leading cardiac and orthopedic services to Dallas. ◦ Memorial Hospital MOB (Bakersfield, CA). A Class A MOB with 84,000 square feet of GLA located on CommonSpirit’s (formerly Dignity) Memorial Hospital in Bakersfield, CA. This development project is expected to cost approximately $30 million, with construction expected to begin in Q4 2019 with completion expected by Q1 2021. This development will expand HTA’s relationship with CommonSpirit to a 10th hospital campus. • Redevelopments: HTA announced plans to re-develop two of its MOBs on its St. Joseph Health - Mission Viejo campus in Mission Viejo, CA. These fee-simple MOBs total approximately 105,000 square feet of GLA and were originally built in the early 1970’s. HTA will invest up to $12.5 million over the next 12 - 18 months to modernize the buildings, with expected returns of between 8 - 12% on incremental capital. • Dividends: On October 28, 2019, HTA’s Board of Directors announced a quarterly cash dividend of $0.315 per share of common stock and per OP Unit. The quarterly dividend is to be paid on January 9, 2020 to stockholders of record of its common stock and holders of its OP Units on January 2, 2020. Impact of Topic 842 Leases The Financial Accounting Standards Board issued Topic 842, which was effective for HTA as of January 1, 2019. Topic 842 modifies the treatment of initial direct costs, which historically under Topic 840 were capitalized in accordance with certain criteria provided for in the applicable guidance. Topic 842 also eliminates the accounting recognition of expenses paid directly by tenants and moves certain bad debt costs from expense to revenue. During the three and nine months ended Q3 2018, HTA capitalized $1.5 million and $3.7 million, respectively, of initial direct costs that would now be expensed under Topic 842. In addition, for the three and nine months ended Q3 2018, HTA recognized $3.5 million and $10.5 million, respectively, of tenant paid property taxes in both revenues and expenses and a nominal amount of bad debt costs recognized as expenses. 2019 Guidance For 2019, HTA updated its earnings, same-property cash NOI growth, and FFO per share, as defined by NAREIT, guidance as outlined below: Annual Expectations Low to High Net income attributable to common stockholders per share $0.17 $0.20 Same-Property Cash NOI 2.4% 2.8% FFO per share, as defined by NAREIT $1.51 $1.53 Normalized FFO per share $1.63 $1.65 The changes to net income and NAREIT FFO reflect the debt extinguishment costs incurred in the third quarter. In addition, HTA now expects to complete $375 to $425 million of investments in 2019 at average yields between 5.5% and 6.0%. Subsequent Events In October 2019, under its ATM offering program, HTA entered into a forward sale arrangement in which it would issue approximately 6.0 million shares of common stock to receive anticipated net proceeds of approximately $172.7 million prior to October 2020, subject to adjustments as provided in the forward equity agreement. We anticipate using these net proceeds to fund purchases of additional MOBs and for general corporate purposes. 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 7


 
Company Overview Financial Highlights (unaudited and dollars in thousands, except per share data) Three Months Ended 3Q19 2Q19 1Q19 4Q18 3Q18 INCOME ITEMS Revenues $ 175,004 $ 171,757 $ 168,966 $ 172,298 $ 175,135 NOl (1)(2) 121,197 118,819 117,498 117,045 119,346 Adjusted EBITDAre, annualized (1)(3) 463,164 450,216 444,692 444,036 446,928 FFO (1)(3) 65,047 84,555 82,875 85,194 81,362 Normalized FFO (1)(3) 87,101 85,152 83,148 84,182 86,144 Normalized FAD (1)(3) 70,879 73,118 73,153 68,291 68,814 Net income attributable to common stockholders per diluted share $ (0.04) $ 0.08 $ 0.06 $ 0.07 $ 0.82 FFO per diluted share 0.31 0.40 0.40 0.41 0.38 Normalized FFO per diluted share 0.42 0.41 0.40 0.40 0.41 Same-Property Cash NOI growth (4) 2.5% 2.9% 2.7% 2.7% 2.5% Fixed charge coverage ratio (5) 4.46x 4.45x 4.37x 4.28x 4.22x As of 3Q19 2Q19 1Q19 4Q18 3Q18 ASSETS Gross real estate investments $ 7,143,223 $ 6,985,828 $ 6,894,539 $ 6,873,790 $ 6,858,468 Total assets 6,322,998 6,240,475 6,242,554 6,188,476 6,328,684 CAPITALIZATION Net debt (6) $ 2,652,943 $ 2,543,814 $ 2,480,546 $ 2,415,011 $ 2,384,141 Total capitalization (7) 8,853,151 8,279,235 8,456,142 7,709,762 8,015,778 Net debt/total capitalization (6) 30.0% 30.7% 29.3% 31.3% 29.7% (1) Refer to pages 23 and 24 for the reporting definitions of NOI, Adjusted EBITDAre, FFO, Normalized FFO and Normalized FAD. (2) Refer to page 16 for a reconciliation of GAAP Net Income to NOI. (3) Refer to page 13 for the reconciliations of GAAP Net Income Attributable to Common Stockholders to FFO, Normalized FFO, Normalized FAD and Adjusted EBITDAre. (4) Calculated as the increase in Same-Property Cash NOI for the quarter as compared to the same period in the previous year. (5) Calculated as Adjusted EBITDAre divided by interest expense and scheduled principal payments. (6) Refer to page 15 for components of net debt. (7) Calculated as the common stock price on the last trading day of the period multiplied by the total diluted common shares outstanding at the end of the period, plus net debt. Refer to page 15 for details. 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 8


 
Company Overview Company Snapshot (as of September 30, 2019) Investments in Real Estate (1) $ 7.0 Total portfolio GLA (2) 23.7 Leased rate (3) 90.6% Same-Property portfolio tenant retention rate (YTD) (4) 85% % of GLA managed internally 93% % of GLA on-campus/adjacent 67% % of invested dollars in key markets & top 75 MSAs (5) 94% Weighted average remaining lease term for all buildings (7) 5.6 Weighted average remaining lease term for single-tenant buildings (7) 7.8 Weighted average remaining lease term for multi-tenant buildings (7) 4.5 Credit ratings (Standard & Poor’s/Moody’s) BBB(Stable)/Baa2(Stable) Cash and cash equivalents (2) $ 12.7 Net debt/total capitalization 30.0% Weighted average interest rate per annum on portfolio debt (8) 3.29% Building Type Presence in Top MSAs (9) % of Portfolio (based on GLA) % of Portfolio (based on invested dollars) Orange County/Los Hartford/New Medical Office Buildings Angeles, CA Atlanta, GA Haven, CT 94% 4.7% 4.8% 4.3% Tampa, FL Indianapolis, 5.0% IN 4.0% Phoenix, AZ Boston, MA 3.8% 5.7% Denver, CO 3.5% Houston, TX 6.2% Senior Care 2% Hospitals 4% Dallas, TX 12.1% All Other Markets Remaining Top 6.1% MSAs 39.8% (1) Amount presented in billions. Refer to page 23 for the reporting definition of Investments in Real Estate. (2) Amounts presented in millions. Total portfolio GLA excludes GLA for projects under development and includes 100% of the GLA of its unconsolidated joint venture. (3) Calculations are based on percentage of total GLA, excluding GLA for development properties. (4) Refer to page 24 for the reporting definition of Retention. (5) Refer to page 23 for the reporting definition of Metropolitan Statistical Area. (6) Amounts based on annualized base rent. (7) Amounts presented in years. (8) Includes the impact of cash flow hedges. (9) Refer to page 19 for a detailed table of HTA’ s Key Markets and Top 75 MSA Concentration. 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 9


 
Financial Statements Condensed Consolidated Balance Sheets (unaudited and in thousands, except share and per share data) As of 3Q19 4Q18 ASSETS Real estate investments: Land $ 513,946 $ 481,871 Building and improvements 6,003,172 5,787,152 Lease intangibles 606,946 599,864 Construction in progress 19,159 4,903 7,143,223 6,873,790 Accumulated depreciation and amortization (1,390,752) (1,208,169) Real estate investments, net 5,752,471 5,665,621 Investment in unconsolidated joint venture 66,348 67,172 Cash and cash equivalents 12,748 126,221 Restricted cash 5,068 7,309 Receivables and other assets, net 230,163 223,415 Right-of-use assets, net 244,024 — Other intangibles, net 12,176 98,738 Total assets $ 6,322,998 $ 6,188,476 LIABILITIES AND EQUITY Liabilities: Debt $ 2,665,691 $ 2,541,232 Accounts payable and accrued liabilities 157,939 185,073 Derivative financial instruments - interest rate swaps 1,152 — Security deposits, prepaid rent and other liabilities 43,036 59,567 Lease liabilities 200,945 — Intangible liabilities, net 39,766 61,146 Total liabilities 3,108,529 2,847,018 Commitments and contingencies Redeemable noncontrolling interests — 6,544 Equity: Preferred stock, $0.01 par value; 200,000,000 shares authorized; none issued and outstanding — — Class A common stock, $0.01 par value; 1,000,000,000 shares authorized; 207,186,452 and 205,267,349 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively 2,072 2,053 Additional paid-in capital 4,581,176 4,525,969 Accumulated other comprehensive income 1,798 307 Cumulative dividends in excess of earnings (1,443,360) (1,272,305) Total stockholders’ equity 3,141,686 3,256,024 Noncontrolling interests 72,783 78,890 Total equity 3,214,469 3,334,914 Total liabilities and equity $ 6,322,998 $ 6,188,476 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 10


 
Financial Statements Condensed Consolidated Statements of Operations (unaudited and in thousands, except per share data) Three Months Ended Nine Months Ended 3Q19 3Q18 3Q19 3Q18 Revenues: Rental income $ 174,844 $ 175,038 $ 515,328 $ 523,826 Interest and other operating income 160 97 399 302 Total revenues 175,004 175,135 515,727 524,128 Expenses: Rental 53,807 55,789 158,213 165,364 General and administrative 9,788 8,770 31,157 26,281 Transaction 522 346 858 933 Depreciation and amortization 73,820 70,568 211,730 210,064 Interest expense 24,625 24,834 72,601 77,392 Impairment — 4,281 — 8,887 Total expenses 162,562 164,588 474,559 488,921 Gain (loss) on sale of real estate, net — 166,372 (37) 166,372 Loss on extinguishment of debt, net (21,646) (1,092) (21,646) (1,092) Income from unconsolidated joint venture 422 432 1,456 1,405 Other income 205 89 781 129 Net (loss) income $ (8,577) $ 176,348 $ 21,722 $ 202,021 Net loss (income) attributable to noncontrolling interests 114 (3,362) (486) (3,887) Net (loss) income attributable to common stockholders $ (8,463) $ 172,986 $ 21,236 $ 198,134 Earnings per common share - basic: Net (loss) income attributable to common stockholders $ (0.04) $ 0.83 $ 0.10 $ 0.96 Earnings per common share - diluted: Net (loss) income attributable to common stockholders $ (0.04) $ 0.82 $ 0.10 $ 0.94 Weighted average common shares outstanding: Basic 205,277 207,513 205,156 205,950 Diluted 205,277 211,444 209,026 209,968 Dividends declared per common share $ 0.315 $ 0.310 $ 0.935 $ 0.920 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 11


 
Financial Statements Condensed Consolidated Statements of Cash Flows (unaudited and in thousands) Nine Months Ended 3Q19 3Q18 Cash flows from operating activities: Net income $ 21,722 $ 202,021 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 203,392 203,550 Share-based compensation expense 7,828 7,830 Impairment — 8,887 Income from unconsolidated joint venture (1,456) (1,405) Distributions from unconsolidated joint venture 2,225 1,680 Loss (gain) on sale of real estate, net 37 (166,372) Loss on extinguishment of debt, net 21,646 1,092 Changes in operating assets and liabilities: Receivables and other assets, net (2,148) (7,820) Accounts payable and accrued liabilities (19,783) (5,932) Prepaid rent and other liabilities 4,919 (2,780) Net cash provided by operating activities 238,382 240,751 Cash flows from investing activities: Investments in real estate (223,168) (17,389) Development of real estate (14,253) (29,593) Proceeds from the sale of real estate 1,193 302,440 Capital expenditures (59,533) (61,136) Collection of real estate notes receivable 551 524 Net cash (used in) provided by investing activities (295,210) 194,846 Cash flows from financing activities: Borrowings on unsecured revolving credit facility 365,000 145,000 Payments on unsecured revolving credit facility (350,000) (145,000) Proceeds from unsecured senior notes 906,927 — Payments on unsecured senior notes (700,000) — Payments on secured mortgage loans (96,765) (173,212) Deferred financing costs (6,954) (782) Debt extinguishment costs (18,383) (1,909) Security deposits — 499 Proceeds from issuance of common stock 51,804 72,814 Issuance of operating partnership units — 411 Repurchase and cancellation of common stock (12,159) (19,431) Dividends paid (190,853) (188,414) Distributions paid to noncontrolling interest of limited partners (7,503) (3,976) Net cash used in financing activities (58,886) (314,000) Net change in cash, cash equivalents and restricted cash (115,714) 121,597 Cash, cash equivalents and restricted cash - beginning of period 133,530 118,560 Cash, cash equivalents and restricted cash - end of period $ 17,816 $ 240,157 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 12


 
Financial Information FFO, Normalized FFO, Normalized FAD and Adjusted EBITDAre (unaudited and in thousands, except per share data) FFO, Normalized FFO and Normalized FAD Three Months Ended Nine Months Ended 3Q19 3Q18 3Q19 3Q18 Net (loss) income attributable to common stockholders $ (8,463) $ 172,986 $ 21,236 $ 198,134 Depreciation and amortization expense related to investments in real estate 73,042 70,004 209,814 208,445 (Gain) loss on sale of real estate, net — (166,372) 37 (166,372) Impairment — 4,281 — 8,887 Proportionate share of joint venture depreciation and amortization 468 463 1,390 1,277 FFO attributable to common stockholders $ 65,047 $ 81,362 $ 232,477 $ 250,371 Transaction expenses 522 346 858 789 Loss on extinguishment of debt, net 21,646 1,092 21,646 1,092 Noncontrolling income from OP units included in diluted shares (114) 3,344 420 3,822 Other normalizing items, net — — — 144 Normalized FFO attributable to common stockholders $ 87,101 $ 86,144 $ 255,401 $ 256,218 Non-cash compensation expense 2,337 2,127 7,828 7,830 Straight-line rent adjustments, net (2,539) (2,746) (8,261) (8,289) Amortization of (below) and above market leases/leasehold interests and corporate assets, net (612) 499 45 1,809 Deferred revenue - tenant improvement related and other income (1) (90) (4) (199) Amortization of deferred financing costs and debt discount/premium, net 1,469 1,277 4,281 3,857 Recurring capital expenditures, tenant improvements and leasing commissions (16,876) (18,397) (42,140) (44,258) Normalized FAD attributable to common stockholders $ 70,879 $ 68,814 $ 217,150 $ 216,968 Net (loss) income attributable to common stockholders per diluted share $ (0.04) $ 0.82 $ 0.10 $ 0.94 FFO adjustments per diluted share, net 0.35 (0.44) 1.01 0.25 FFO attributable to common stockholders per diluted share $ 0.31 $ 0.38 $ 1.11 $ 1.19 Normalized FFO adjustments per diluted share, net 0.11 0.03 0.11 0.03 Normalized FFO attributable to common stockholders per diluted share $ 0.42 $ 0.41 $ 1.22 $ 1.22 Weighted average diluted common shares outstanding 209,072 211,444 209,026 209,968 Adjusted EBITDAre (1) Three Months Ended 3Q19 Net (loss) $ (8,577) Interest expense 24,625 Depreciation and amortization expense 73,820 Proportionate share of joint venture depreciation and amortization 468 EBITDAre $ 90,336 Transaction expenses 522 Loss on extinguishment of debt, net 21,646 Non-cash compensation expense 2,337 Pro forma impact of acquisitions 950 Adjusted EBITDAre $ 115,791 Adjusted EBITDAre, annualized $ 463,164 As of September 30, 2019: Debt $ 2,665,691 Less: cash and cash equivalents 12,748 Net Debt $ 2,652,943 Net Debt to Adjusted EBITDAre 5.7x (1) Refer to page 23 for the reporting definitions of EBITDAre, as defined by NAREIT, and Adjusted EBITDAre. 3Q 2019 I Supplemental Information . Healthcare Trust of America, Inc. I 13


 
Financial Information Debt Composition and Maturity Schedule (as of September 30, 2019, dollars in thousands) Debt Composition Deferred Premium/ Principal Financing (Discounts), Balance Costs, Net Net Total Stated Rate (1) Hedged Rate (2) Unsecured senior note due 2023 $ 300,000 $ (1,238) $ (912) $ 297,850 3.70% 3.70% Unsecured senior note due 2026 600,000 (2,984) 7,564 604,580 3.50 3.50 Unsecured senior note due 2027 500,000 (3,286) (2,040) 494,674 3.75 3.75 Unsecured senior note due 2030 650,000 (5,048) (2,216) 642,736 3.10 3.10 Total unsecured senior notes $ 2,050,000 $ (12,556) $ 2,396 $ 2,039,840 Unsecured term loan due 2023 300,000 (1,654) — 298,346 3.29% 2.52% Unsecured term loan due 2024 200,000 (1,842) — 198,158 3.19 2.32 Total unsecured term loans $ 500,000 $ (3,496) $ — $ 496,504 Unsecured revolving credit facility due 2022 (3) 15,000 — — 15,000 3.24% 3.24% Secured mortgage loans 114,657 (36) (274) 114,347 3.93 3.93 Total debt $ 2,679,657 $ (16,088) $ 2,122 $ 2,665,691 3.44% 3.29% Maturity Schedule $750,000 $675,000 $12,121 $650,000 $600,000 $300,000 $600,000 $525,000 $500,000 $450,000 $375,000 $300,000 $300,000 $225,000 $200,000 $150,000 $97,429 $75,000 $2,005 $598 $2,504 $0 $15,000 2019 2020 2021 2022 2023 2024 2026 2027 2030 Period Ending Unsecured Revolving Credit Facility Unsecured Senior Notes Unsecured Term Loans Secured Mortgage Loans (1) The stated rate on the debt instrument as of the end of the period. (2) The effective rate incorporates any cash flow hedges that serve to fix variable rate debt, as of the end of the period. (3) Rate does not include the 20 basis point facility fee that is payable on the entire $1.0 billion revolving credit facility. 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 14


 
Financial Information Capitalization and Covenants (as of September 30, 2019, dollars and shares in thousands, except stock price) Capitalization 3Q19 Unsecured revolving credit facility $ 15,000 Unsecured term loans 500,000 Unsecured senior notes 2,050,000 Secured mortgage loans 114,657 Equity Deferred financing costs, net (16,088) 70% Premium, net 2,122 Total debt $ 2,665,691 Secured Less: cash and cash equivalents 12,748 Debt 1% Net debt $ 2,652,943 Stock price (as of September 30, 2019) $ 29.38 Total diluted common shares outstanding 211,035 Equity capitalization $ 6,200,208 Total capitalization $ 8,853,151 Total undepreciated assets $ 7,713,750 Unsecured Gross book value of unencumbered assets $ 7,048,420 Debt 29% Total debt/undepreciated assets 34.6% Net debt/total capitalization 30.0% Covenants Bank Loans Required 3Q19 Senior Notes Required 3Q19 Total leverage ≤ 60% 37% Total leverage ≤ 60% 36% Secured leverage ≤ 30% 2% Secured leverage ≤ 40% 2% Fixed charge coverage ≥ 1.50x 4.46x Unencumbered asset coverage ≥ 150% 286% Unencumbered leverage ≤ 60% 36% Interest coverage ≥ 1.50x 4.56x Unencumbered coverage ≥ 1.75x 5.08x 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 15


 
Portfolio Information Same-Property Performance and NOI (as of September 30, 2019, unaudited and dollars and GLA in thousands) Same-Property Performance Three Months Ended Sequential Year-Over-Year 3Q19 2Q19 3Q18 $ Change % Change $ Change % Change Rental revenue $ 125,105 $ 124,503 $ 122,672 $ 602 0.5% $ 2,433 2.0% Tenant recoveries 37,723 36,427 35,091 1,296 3.6 2,632 7.5 Total rental income 162,828 160,930 157,763 1,898 1.2 5,065 3.2 Expenses 49,622 48,694 47,308 928 1.9 2,314 4.9 Same-Property Cash NOI (1) $ 113,206 $ 112,236 $ 110,455 $ 970 0.9% $ 2,751 2.5% Rental Margin (2) 90.5% 90.1% 90.0% As of 3Q19 2Q19 3Q18 Number of buildings 407 407 407 GLA 22,044 22,044 22,011 Leased GLA, end of period 20,208 20,331 20,354 Leased %, end of period 91.7% 92.2% 92.5% Occupancy GLA, end of period 20,024 20,105 20,129 Occupancy %, end of period 90.8% 91.2% 91.4% NOI (3) Three Months Ended 3Q19 3Q18 Net (loss) income $ (8,577) $ 176,348 General and administrative expenses 9,788 8,770 Transaction expenses 522 346 Depreciation and amortization expense 73,820 70,568 Impairment — 4,281 Interest expense 24,625 24,834 (Gain) loss on sale of real estate, net — (166,372) Loss on extinguishment of debt, net 21,646 1,092 Income from unconsolidated joint venture (422) (432) Other income (205) (89) NOI $ 121,197 $ 119,346 NOI percentage growth 1.6% NOI $ 121,197 $ 119,346 Straight-line rent adjustments, net (2,539) (2,746) Amortization of (below) and above market leases/leasehold interests, net and other GAAP adjustments (1,017) (66) Notes receivable interest income (23) (32) Cash NOI $ 117,618 $ 116,502 Acquisitions not owned/operated for all periods presented and disposed properties Cash NOI (2,449) (2,918) Redevelopment Cash NOI (527) (1,671) Intended for sale Cash NOI (1,436) (1,458) Same-Property Cash NOI $ 113,206 $ 110,455 Same-Property Cash NOI percentage growth 2.5% (1) The presentation includes certain adjustments to allow for the consistent treatment of items impacted by Topic 842-Leases. (2) Rental margin presents Same-Property Cash NOI divided by Same-Property rental revenue. (3) Refer to pages 23 and 24 for the reporting definitions of NOI, Cash NOI and Same-Property Cash NOI. 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 16


 
Portfolio Information Investment Activity (as of September 30, 2019, dollars and GLA in thousands) 2019 Property Acquisitions % Leased at Property (1) Market Date Acquired Acquisition Purchase Price (1) (2) GLA Westport Center Westport, CT January 82 $ 18,750 38 April/August/ Medical Office Condos Various September 38 4,151 37 Charlotte MOBs Charlotte, NC April/May 95 20,280 73 1740 South Street MOB Philadelphia, PA May 97 10,500 46 Streeterville Center Chicago, IL June 98 40,007 72 Fairfax Medical Center Washington, D.C. July 98 18,000 57 Third Street Medical Center Los Angeles, CA August 90 85,000 147 Eagle Road Professional Center (2 buildings) Boise, ID August 100 11,000 57 Camp Creek IV MOB Atlanta, GA September 100 13,700 32 Total $ 221,388 559 Annual Investments (2) As of September 30, 2019, HTA has invested $7.0 billion primarily in MOBs, development properties and other healthcare assets comprising 23.7 million square feet of GLA. $2,800,000 $2,722,467 $2,450,000 $2,100,000 $1,750,000 $1,400,000 $1,050,000 $802,148 $700,000 $700,764 $542,976 $455,950 $439,530 $350,000 $413,150 $397,826 $294,937 $271,510 $228,388 $17,729 $68,314 $0 $(82,885) $(35,685) $(39,483) $(85,150) $(1,200) $(308,550) -$350,000 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Acquisitions Dispositions (1) Excludes purchases of land for development. (2) Excludes real estate note receivables and corporate assets. 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 17


 
Portfolio Information Development/Redevelopment Summary and Property Capital Expenditures (as of September 30, 2019, dollars and GLA in thousands) Development/Redevelopment Summary Total Completion/ Total % Construction Construction Costs to Estimated Project MSA GLA Leased Cost in Progress Complete Completion Stabilized: Memorial Hermann Plaza II MOB (1) Houston, TX 100 100% $ 21,159 $ 13,621 $ 7,538 2Q18 Total Stabilized 100 100 $ 21,159 $ 13,621 $ 7,538 Development: Jackson South MOB Miami, FL 51 70 $ 22,117 $ 1,882 $ 20,235 3Q20 Pavilion III MOB Dallas, TX 107 75 60,000 19 59,981 1Q21 Memorial Hospital MOB Bakersfield, CA 84 70 30,000 791 29,209 1Q21 Total Development: 242 72 112,117 2,692 109,425 Redevelopment: Cary MOB (2) Raleigh, NC 125 72 43,897 8,572 35,325 1Q21 Mission Medical Center Bldgs I & II Los Angeles, CA 105 30 20,000 290 19,710 4Q20 Total Redevelopment: 230 53 63,897 8,862 55,035 Total Construction in Progress 472 63 176,014 11,554 164,460 Total Development/Redevelopment 572 69% $ 197,173 $ 25,175 $ 171,998 Property Capital Expenditures Three Months Ended Nine Months Ended 3Q19 3Q19 Recurring capital expenditures $ 4,235 $ 10,871 Tenant improvements - 2nd generation 9,849 21,364 Lease commissions 2,792 9,905 Total recurring capital expenditures $ 16,876 $ 42,140 Capital expenditures - 1st generation/acquisition 509 2,119 Tenant improvements - 1st generation 5,563 15,364 Total capital expenditures $ 22,948 $ 59,623 (1) Costs to complete for Memorial Hermann Plaza II MOB relates to remaining tenant improvements expected to be completed 2Q20. The building is 100% leased and fully operational. (2) During 2Q 2019, HTA broke ground on Cary MOB. As part of the project HTA removed four of the existing buildings totaling 45,000 square feet of GLA in order to build a new 125,000 square foot Class A MOB. With the construction of a new building the project has moved from redevelopment to development. 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 18


 
Portfolio Information Key Markets/Top 75 MSA Concentration and Regional Portfolio Distribution (as of September 30, 2019, dollars and GLA in thousands) Key Markets and Top 75 MSA Concentration (1) % of % of Annualized Annualized Key Markets Investment Investment Total GLA (2) % of Portfolio Base Rent (3) Base Rent Dallas, TX $ 843,274 12.1% 2,052 8.7% $ 53,674 10.3% Houston, TX 430,979 6.2 1,589 6.7 32,716 6.3 Boston, MA 396,530 5.7 965 4.1 32,766 6.3 Tampa, FL 350,746 5.0 952 4.0 24,165 4.7 Atlanta, GA 338,886 4.8 1,120 4.7 25,110 4.8 Orange County/Los Angeles, CA 326,242 4.7 715 3.0 16,033 3.1 Hartford/New Haven, CT 301,351 4.3 1,033 4.4 22,117 4.3 Indianapolis, IN 281,768 4.0 1,396 5.9 25,179 4.9 Phoenix, AZ 267,781 3.8 1,316 5.6 24,155 4.7 Denver, CO 246,957 3.5 538 2.3 11,335 2.2 Chicago, IL 230,785 3.3 454 1.9 14,582 2.8 Miami, FL 228,624 3.3 997 4.2 23,141 4.5 Raleigh, NC 199,889 2.9 622 2.6 15,701 3.0 Albany, NY 170,071 2.4 833 3.5 16,067 3.1 Austin, TX 164,425 2.4 409 1.7 8,980 1.7 Orlando, FL 156,300 2.2 513 2.2 9,554 1.8 Pittsburgh, PA 148,612 2.1 1,094 4.6 19,798 3.8 White Plains, NY 126,144 1.8 333 1.4 8,475 1.6 Charlotte, NC 117,177 1.7 412 1.8 9,627 1.9 Milwaukee, WI 116,082 1.7 368 1.6 6,605 1.3 Top 20 MSAs 5,442,623 77.9 17,711 74.9 399,780 77.1 Additional Top MSAs 1,117,290 16.0 4,207 17.8 81,021 15.6 Total Key Markets/Top 75 MSAs $ 6,559,913 93.9% 21,918 92.7% $ 480,801 92.7% Regional Portfolio Distribution % of Annualized Annualized Region Investment % of Investment Total GLA (2) % of Portfolio Base Rent (3) Base Rent Southwest $ 2,702,815 38.7% 8,339 35.3% $ 179,962 34.7% Southeast 1,872,493 26.8 6,427 27.2 145,977 28.1 Northeast 1,286,180 18.4 4,695 19.8 108,512 20.9 Midwest 1,104,200 15.8 4,110 17.4 82,901 16.0 Northwest 18,750 0.3 80 0.3 1,298 0.3 Total $ 6,984,438 100% 23,651 100% $ 518,650 100% (1) Key markets are titled as such based on HTA’s concentration in the respective MSA. (2) Total portfolio GLA excludes GLA of projects under development and includes 100% of the GLA of its unconsolidated joint venture. (3) Refer to page 23 for the reporting definition of Annualized Base Rent. 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 19


 
Portfolio Information Portfolio Diversification by Type, Historical Campus Proximity and Tenant Specialty (as of September 30, 2019, dollars and GLA in thousands, except as otherwise noted) Portfolio Diversification by Type % of Number of Number of % of Total Annualized Annualized Buildings States GLA (1) GLA Base Rent (2) Base Rent Medical Office Buildings Single-tenant 108 21 5,952 25.2% $ 129,567 25.0% Multi-tenant 312 32 16,391 69.3 350,649 67.6 Other Healthcare Facilities Hospitals 15 7 954 4.0 32,927 6.3 Senior care 3 1 354 1.5 5,507 1.1 Total 438 33 23,651 100% $ 518,650 100% Net-Lease/Gross-Lease Net-lease 277 30 14,610 61.8% $ 334,181 64.4% Gross-lease 161 21 9,041 38.2 184,469 35.6 Total 438 33 23,651 100% $ 518,650 100% Historical Campus Proximity (3) As of 3Q19 2Q19 1Q19 4Q18 3Q18 Off-Campus Aligned 27% 27% 28% 28% 28% On-Campus 67 68 68 68 68 On-Campus/Aligned 94% 95% 96% 96% 96% Off-Campus/Non-Aligned 6 5 4 4 4 Total 100% 100% 100% 100% 100% Tenant Specialty (4) Specialty On-Campus Off-Campus Total Primary Care (5) 16.4% 20.7% 17.7% Orthopedics/Sports Medicine 9.1% 10.3% 9.5% Obstetrics/Gynecology 8.6 3.5 7.0 Cardiology 6.5 3.2 5.5 Oncology 4.2 2.2 3.6 Imaging/Diagnostics/Radiology 3.3 4.8 3.7 Eye and Vision 3.1 3.3 3.2 General Surgery 2.6 1.9 2.4 Other Specialty 32.1 34.0 32.7 Specialty 69.5% 63.2% 67.6% Ambulatory Surgery Center 4.9% 6.8% 5.4% Education/Research 4.5 1.8 3.6 Pharmacy 1.2 0.5 0.9 Other 3.5 7.0 4.8 Total 100% 100% 100% (1) Total portfolio GLA excludes GLA of projects under development and includes 100% of the GLA of its unconsolidated joint venture. (2) Refer to page 23 for the reporting definition of Annualized Base Rent. (3) Percentages shown as percent of total GLA. Refer to page 24 for the reporting definitions of Off-campus/Non-Aligned and On-Campus/Aligned. (4) Tenant Specialty includes the percentage of total GLA of multi-tenanted clinical MOBs. (5) Primary Care includes Pediatrics, Family and Internal Medicine. 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 20


 
Portfolio Information New and Renewal Leasing Activity, Historical Leased Rate and Tenant Lease Expirations (as of September 30, 2019, dollars and GLA in thousands) New and Renewal Leasing Activity (2) Average Base Rent Tenant Leasing Total GLA Average Term (1) Expiring Starting Improvements (2) Commissions (2) 1Q 2019 New Leases 207 7.5 $ 24.13 $ 35.40 $ 2.51 Renewal Leases 892 9.6 $ 16.39 17.35 15.63 2.74 Total 1Q 2019 1,099 9.2 $ 17.77 $ 19.34 $ 2.70 2Q 2019 New Leases 205 7.4 $ 27.33 $ 30.11 $ 1.65 Renewal Leases 596 5.5 $ 25.95 26.88 8.34 1.12 Total 2Q 2019 801 6.0 $ 26.94 $ 14.15 $ 1.26 3Q 2019 New Leases 157 6.3 $ 25.21 $ 22.91 $ 1.78 Renewal Leases 539 5.9 $ 23.88 24.54 7.29 1.72 Total 3Q 2019 696 6.0 $ 24.59 $ 10.85 $ 1.73 YTD 2019 New Leases 569 7.1 $ 25.86 $ 29.95 $ 2.01 Renewal Leases 2,027 7.4 $ 21.11 21.87 11.14 2.01 Total YTD 2019 2,596 7.3 $ 22.23 $ 15.26 $ 2.01 Historical Leased Rate (3) As of 3Q19 2Q19 1Q19 4Q18 3Q18 Total portfolio leased rate 90.6% 91.6% 91.8% 92.0% 92.1% On-campus/aligned leased rate 90.7 91.7 91.8 92.1 92.2 Off-campus/non-aligned leased rate 89.3 89.4 92.7 89.3 91.1 Total portfolio occupancy rate 89.7 90.6 90.6 91.0 90.9 Tenant Lease Expirations % of GLA of Annualized Base % of Total Number of Total GLA of Expiring Rent of Expiring Annualized Expiration Expiring Leases Expiring Leases (4) Leases Leases (5) Base Rent Month-to-month 111 306 1.4% $ 7,314 1.4% 2019 165 728 3.4 19,185 3.7 2020 553 2,069 9.7 50,511 9.7 2021 684 2,532 11.8 61,810 11.9 2022 474 2,228 10.4 55,316 10.7 2023 379 2,097 9.8 46,129 8.9 2024 313 1,613 7.5 39,333 7.6 2025 209 1,340 6.3 32,814 6.3 2026 196 1,371 6.4 29,632 5.7 2027 167 2,020 9.4 55,773 10.8 2028 118 1,165 5.4 28,176 5.4 Thereafter 323 3,956 18.5 92,657 17.9 Total 3,692 21,425 100% $ 518,650 100% (1) Amounts presented in years. (2) Amounts presented per square foot. (3) Calculations are based on percentage of total GLA, excluding GLA for projects under development and including 100% of the GLA of its unconsolidated joint venture. (4) Total portfolio GLA excludes GLA of projects under development and includes 100% of the GLA of its unconsolidated joint venture. (5) Refer to page 23 for the reporting definition of Annualized Base Rent. 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 21


 
Portfolio Information Top MOB Tenants and Ownership Interests (as of September 30, 2019, dollars and GLA in thousands, except as otherwise noted) Top MOB Tenants (1) Weighted Average % of % of Remaining Credit Total Leased Leased Annualized Annualized Tenant Lease Term (2) Rating GLA (3) GLA Base Rent (4) Base Rent Baylor Scott & White Health 6 Aa3 882 4.1% $ 23,923 4.6% HCA Healthcare 5 Ba1 691 3.2 19,655 3.8 Highmark-Allegheny Health Network 10 Baa1 918 4.3 17,027 3.3 Tenet Healthcare Corporation 7 B2 523 2.4 12,863 2.5 Ascension 4 Aa2 477 2.2 11,129 2.1 Steward Health Care 7 NR 380 1.8 10,059 1.9 Community Health Systems 8 Caa3 440 2.0 9,264 1.8 CommonSpirit Health 9 Baa1 357 1.7 7,646 1.5 AdventHealth 3 Aa2 366 1.7 7,449 1.4 Mercy Health 7 Aa3 270 1.3 6,822 1.3 Harbin Clinic 8 NR 313 1.5 6,809 1.3 Atrium Health 1 Aa3 220 1.0 6,512 1.3 UNC Health Care 7 Aa3 236 1.1 6,253 1.2 Community Health Network 5 A2 289 1.4 6,017 1.2 Providence St. Joseph Health 6 Aa3 171 0.8 5,565 1.1 Total 6,533 30.5% $ 156,993 30.3% Ownership Interests (5) % of As of (6) Number of Annualized (3) Annualized Buildings GLA Base Rent Base Rent 3Q19 2Q19 1Q19 4Q18 3Q18 Fee Simple 291 14,461 $ 322,536 62% 61% 61 % 60 % 60 % 65 % Customary Health System Restrictions 140 8,822 186,406 36 37 38 38 38 34 Economic with Limited Restrictions 6 333 9,280 2 2 1 2 2 1 Occupancy Health System Restrictions 1 35 428 — — — — — — Leasehold Interest Subtotal 147 9,190 196,114 38 39 39 40 40 35 Total 438 23,651 $ 518,650 100% 100% 100 % 100 % 100 % 100 % (1) Represents direct leases with top health systems and their subsidiaries. Parent tenant credit rating used where direct tenant is not rated. (2) Amounts presented in years. (3) Total leased and total portfolio GLA excludes GLA of projects under development and includes 100% of the GLA of its unconsolidated joint venture. (4) Refer to page 23 for the reporting definition of Annualized Base Rent. (5) Refer to pages 23 and 24 for the reporting definitions of Customary Health System Restrictions, Economic with Limited Restrictions, and Occupancy Health System Restrictions. (6) Percentages shown as percent of total GLA. 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 22


 
Reporting Definitions Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate (“Adjusted EBITDAre”): Adjusted EBITDAre is presented on an assumed annualized basis. HTA defines Adjusted EBITDAre as EBITDAre (computed in accordance with NAREIT as defined below) plus: (i) transaction expenses; (ii) gain or loss on extinguishment of debt; (iii) non-cash compensation expense; (iv) pro forma impact of its acquisitions/dispositions; and (v) other normalizing items. HTA considers Adjusted EBITDAre an important measure because it provides additional information to allow management, investors, and its current and potential creditors to evaluate and compare its core operating results and its ability to service debt. Annualized Base Rent or (“ABR”): Annualized base rent is calculated by multiplying contractual base rent for the end of the period by 12 (excluding the impact of abatements, concessions, and straight-line rent).  Cash Net Operating Income (“Cash NOI”): Cash NOI is a non-GAAP financial measure which excludes from NOI: (i) straight-line rent adjustments; (ii) amortization of below and above market leases/leasehold interests and other GAAP adjustments; and (iii) notes receivable interest income. Contractual base rent, contractual rent increases, contractual rent concessions and changes in occupancy or lease rates upon commencement and expiration of leases are a primary driver of HTA’s revenue performance. HTA believes that Cash NOI, which removes the impact of straight- line rent adjustments, provides another measurement of the operating performance of its operating assets. Additionally, HTA believes that Cash NOI is a widely accepted measure of comparative operating performance of real estate investment trusts (“REITs”). However, HTA’s use of the term Cash NOI may not be comparable to that of other REITs as they may have different methodologies for computing this amount. Cash NOI should not be considered as an alternative to net income or loss (computed in accordance with GAAP) as an indicator of its financial performance. Cash NOI should be reviewed in connection with other GAAP measurements. Credit Ratings: Credit ratings of parent tenants and their subsidiaries. Customary Health System Restrictions: Ground leases with a health system ground lessor that include restrictions on tenants that may be considered competitive with the hospital, including provisions that tenants must have hospital privileges. Economic with Limited Restrictions: Ground leases that are primarily economic in nature and contain no material restrictions on tenancy. Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate (“EBITDAre”): As defined by NAREIT, EBITDAre is computed as net income or loss (computed in accordance with GAAP) plus: (i) interest expense; (ii) income tax expense (not applicable to HTA); (iii) depreciation and amortization; (iv) impairment; (v) gain or loss on the sale of real estate; and (vi) and the proportionate share of joint venture depreciation and amortization. Funds from Operations (“FFO”): HTA computes FFO in accordance with the current standards established by NAREIT. NAREIT defines FFO as net income or loss attributable to common stockholders (computed in accordance with GAAP), excluding gains or losses from sales of real estate property and impairment write-downs of depreciable assets, plus depreciation and amortization related to investments in real estate, and after adjustments for unconsolidated partnerships and joint ventures. HTA presents this non-GAAP financial measure because it considers it an important supplemental measure of its operating performance and believes it is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs. Historical cost accounting assumes that the value of real estate assets diminishes ratably over time. Since real estate values have historically risen or fallen based on market conditions, many industry investors have considered the presentation of operating results for real estate companies that use historical cost accounting to be insufficient by themselves. Because FFO excludes depreciation and amortization unique to real estate, among other items, it provides a perspective not immediately apparent from net income or loss attributable to common stockholders. Gross Leasable Area (“GLA”): Gross leasable area in square feet. Investments in Real Estate: Based on acquisition price. Leased Rate: Leased rate represents the percentage of total GLA that is leased (excluding GLA for properties under development), including month-to-month leases and leases which have been executed, but which have not yet commenced, as of the date reported. Metropolitan Statistical Area (“MSA”): Is a geographical region with a relatively high population density at its core and close economic ties throughout the area. MSAs 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) before: (i) general and administrative expenses; (ii) transaction expenses; (iii) depreciation and amortization expense; (iv) impairment; (v) interest expense and net change in fair value of derivative financial instruments; (vi) gain or loss on sales of real estate; (vii) gain or loss on extinguishment of debt; (viii) income or loss from unconsolidated joint venture; and (ix) other income or expense. HTA believes that NOI provides an accurate measure of the operating performance of its operating assets because NOI excludes certain items that are not associated with the management of its properties. Additionally, HTA believes that NOI is a widely accepted measure of comparative operating performance of REITs. However, HTA’s use of the term NOI may not be comparable to that of other REITs as they may have different methodologies for computing this amount. NOI should not be considered as an alternative to net income or loss (computed in accordance with GAAP) as an indicator of HTA’s financial performance. NOI should be reviewed in connection with other GAAP measurements. 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 23


 
Reporting Definitions - Continued Normalized Funds Available for Distribution (“Normalized FAD”): HTA computes Normalized FAD, which excludes from Normalized FFO: (i) non-cash compensation expense; (ii) straight-line rent adjustments; (iii) amortization of below and above market leases/leasehold interests and corporate assets; (iv) deferred revenue - tenant improvement related and other income; (v) amortization of deferred financing costs and debt premium/discount; and (vi) recurring capital expenditures, tenant improvements and leasing commissions. HTA believes this non-GAAP financial measure provides a meaningful supplemental measure of its operating performance. Normalized FAD should not be considered as an alternative to net income or loss attributable to common stockholders (computed in accordance with GAAP) as an indicator of its financial performance, nor is it indicative of cash available to fund cash needs. Normalized FAD should be reviewed in connection with other GAAP measurements. Normalized Funds From Operations (“Normalized FFO”): HTA computes Normalized FFO, which excludes from FFO: (i) transaction expenses; (ii) gain or loss on extinguishment of debt; (iii) noncontrolling income or loss from partnership units included in diluted shares; and (iv) other normalizing items, which include items that are unusual and infrequent in nature. HTA presents this non-GAAP financial measure because it allows for the comparison of its operating performance to other REITs and between periods on a consistent basis. HTA’s methodology for calculating Normalized FFO may be different from the methods utilized by other REITs and, accordingly, may not be comparable to other REITs. Normalized FFO should not be considered as an alternative to net income or loss attributable to common stockholders (computed in accordance with GAAP) as an indicator of its financial performance, nor is it indicative of cash available to fund cash needs. Normalized FFO should be reviewed in connection with other GAAP measurements. Occupancy Health System Restrictions: Ground leases with customary health system restrictions whereby the restrictions cease if occupancy in the buildings/on-campus fall below stabilized occupancy, which is generally between 85% and 90%. Off-Campus/Non-Aligned: A building or portfolio that is not located on or adjacent to a healthcare or hospital campus or does not have full alignment with a recognized healthcare system. On-Campus/Aligned: On-campus refers to a property that is located on or adjacent to a healthcare or hospital campus. Aligned refers to a property that is not on a healthcare or hospital campus, but is anchored by a healthcare system. Recurring Capital Expenditures, Tenant Improvements and Leasing Commissions: Represents amounts paid for: (i) recurring capital expenditures required to maintain and re-tenant its properties; (ii) second generation tenant improvements; and (iii) leasing commissions paid to secure new tenants. Excludes capital expenditures and tenant improvements for recent acquisitions that were contemplated in the purchase price or closing agreements. Retention:  Represents the sum of the total leased GLA of tenants that renewed a lease during the period over the total GLA of leases that renewed or expired during the period. Same-Property Cash Net Operating Income (“Same-Property Cash NOI”): To facilitate the comparison of Cash NOI between periods, HTA calculates comparable amounts for a subset of its owned and operational properties referred to as “Same-Property”. Same-Property Cash NOI excludes (i) properties which have not been owned and operated by HTA during the entire span of all periods presented and disposed properties, (ii) HTA’s share of unconsolidated joint ventures, (iii) development, redevelopment and land parcels, (iv) properties intended for disposition in the near term which have (a) been approved by the Board of Directors, (b) are actively marketed for sale, and (c) an offer has been received at prices HTA would transact and the sales process is ongoing, and (v) certain non-routine items. Same-Property Cash NOI should not be considered as an alternative to net income or loss (computed in accordance with GAAP) as an indicator of its financial performance. Same-Property Cash NOI should be reviewed in connection with other GAAP measurements. Tenant Recoveries: Tenant reimbursement revenue, which is comprised of additional amounts recoverable from tenants for real estate taxes, common area maintenance and other certain operating expenses are recognized as revenue on a gross basis in the period in which the related recoverable expenses are incurred.  HTA accrues revenue corresponding to these expenses on a quarterly basis to adjust recorded amounts to its best estimate of the final annual amounts to be billed. Subsequent to year-end, on a calendar year basis, HTA performs reconciliations on a lease-by-lease basis and bill or credit each tenant for any differences between the estimated expenses HTA billed and the actual expenses that were incurred. 3Q 2019 I Supplemental Information Healthcare Trust of America, Inc. I 24