Exhibit 99.2

CONTENT 03 COMPANY INFORMATION 04 OVERVIEW 05 PORTFOLIO Triple-Net Portfolio Same Store Triple-Net Portfolio Top 10 Relationships Senior Housing - Managed Portfolio Same Store Senior Housing - Managed Portfolio Loans and Other Investments | Development Pipeline NOI Concentrations Geographic Concentrations Lease Expirations 15 INVESTMENT ACTIVITY Summary Recent 22 CAPITALIZATION Overview Indebtedness Debt Maturity Credit Metrics and Ratings 26 FINANCIAL INFORMATION 2020 Outlook Consolidated Financial Statements - Statements of Income Consolidated Financial Statements - Balance Sheets Consolidated Financial Statements - Statements of Cash Flows FFO, Normalized FFO, AFFO and Normalized AFFO Components of Net Asset Value (NAV) 33 APPENDIX Disclaimer Reporting Definitions Discussion and Reconciliation of Certain Non-GAAP Financial Measures: http://www.sabrahealth.com/investors/financials/reports-presentations/non-gaap 2 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

COMPANY INFORMATION SENIOR MANAGEMENT Rick Matros Harold Andrews Jr. Talya Nevo-Hacohen Chairman of the Board, President Executive Vice President, Chief Executive Vice President, Chief and Chief Executive Officer Financial Officer and Secretary Investment Officer and Treasurer BOARD OF DIRECTORS Rick Matros Michael Foster Raymond Lewis Chairman of the Board, President Lead Independent Director Director and Chief Executive Officer Craig Barbarosh Ronald Geary Jeffrey Malehorn Director Director Director Robert Ettl Lynne Katzmann Milton Walters Director Director Director CONTACT INFORMATION Sabra Health Care REIT, Inc. Transfer Agent 18500 Von Karman Avenue American Stock Transfer Suite 550 and Trust Company Irvine, CA 92612 6201 15th Avenue 888.393.8248 Brooklyn, NY 11219 sabrahealth.com 3 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

OVERVIEW Financial Metrics Dollars in thousands, except per share data December 31, 2019 Three Months Ended Year Ended Revenues $ 155,763 $ 661,736 Net operating income 134,778 592,658 Cash net operating income 126,936 560,539 Diluted per share data attributable to common stockholders: EPS $ 0.20 $ 0.37 FFO 0.46 2.09 Normalized FFO 0.48 1.89 AFFO 0.45 2.08 Normalized AFFO 0.47 1.86 Dividends per common share 0.45 1.80 Capitalization and Market Facts Key Credit Metrics (2) December 31, 2019 December 31, 2019 Common shares outstanding 205.2 million Net Debt to Adjusted EBITDA 4.89x Common equity Market Capitalization $4.4 billion Including unconsolidated joint venture 5.38x Total Debt (1) $2.8 billion Interest Coverage 5.28x Total Enterprise Value (1) $7.1 billion Fixed Charge Coverage Ratio 5.08x Total Debt/Asset Value 36% Common stock closing price $21.34 Secured Debt/Asset Value 2% Common stock 52-week range $15.88 - $24.95 Unencumbered Assets/Unsecured Debt 275% Common stock ticker symbol SBRA Portfolio Dollars in thousands As of December 31, 2019 Property Count Investment Beds/Units Occupancy Percentage (3) Investment in Real Estate Properties, gross Triple-Net Portfolio: Skilled Nursing / Transitional Care 296 $ 3,701,666 33,290 82.1% Senior Housing - Leased 62 630,688 3,820 87.0 Specialty Hospitals and Other 25 639,721 1,193 71.0 Total Triple-Net Portfolio 383 4,972,075 38,303 Senior Housing - Managed 46 907,771 4,809 87.7 Consolidated Equity Investments 429 5,879,846 43,112 Unconsolidated Joint Venture Senior Housing - Managed 170 740,930 7,538 82.2 Total Equity Investments 599 6,620,776 50,650 Investment in Direct Financing Lease, net 1 23,870 Investments in Loans Receivable, gross (4) 18 63,130 Preferred Equity Investments, gross (5) 9 44,304 Includes 69 relationships in 44 U.S. states Total Investments 627 $ 6,752,080 and Canada (1) Includes Sabra’s 49% pro rata share of the debt of its unconsolidated joint venture. (2) See page 25 of this supplement for important information about these credit metrics. (3) Occupancy Percentage is presented for the trailing twelve month period and one quarter in arrears, except for Senior Housing - Managed, which is presented for the current period on a trailing three month basis. (4) One of our investments in loans receivable contains a purchase option on one Senior Housing development with 21 units. (5) Our preferred equity investments include investments in entities owning eight Senior Housing developments with an aggregate of 974 units and one Skilled Nursing/Transitional Care development with 120 beds. 4 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

PORTFOLIO Triple-Net Portfolio Triple-Net Portfolio Dollars in thousands As of December 31, 2019 Skilled Nursing/ Senior Housing - Specialty Hospitals Transitional Care Leased and Other Total Number of Properties 296 62 25 383 Number of Beds/Units 33,290 3,820 1,193 38,303 Investment $ 3,701,666 $ 630,688 $ 639,721 $ 4,972,075 Triple-Net Portfolio — EBITDARM Coverage (1) 4Q 2019 3Q 2019 2Q 2019 1Q 2019 4Q 2018 Skilled Nursing/Transitional Care 1.63x 1.64x 1.61x 1.62x 1.67x Specialty Hospitals and Other 3.29x 3.28x 3.18x 3.20x 3.24x Aggregate Acute/Post Acute and Other 1.88x 1.89x 1.85x 1.86x 1.91x Senior Housing - Leased 1.37x 1.36x 1.36x 1.34x 1.32x Triple-Net Portfolio — Operating Statistics (1) Dollars in thousands 4Q 2019 3Q 2019 2Q 2019 1Q 2019 4Q 2018 Skilled Nursing/Transitional Care Number of Properties 296 304 304 304 335 Number of Units 33,290 33,879 33,879 34,049 37,628 Cash NOI $ 77,589 $ 76,525 $ 75,703 $ 75,411 $ 77,373 Occupancy 82.1% 82.4% 82.6% 82.5% 82.8% Skilled Mix 38.0% 38.7% 39.5% 39.2% 39.4% Senior Housing - Leased Number of Properties 62 62 62 88 90 Number of Units 3,820 4,011 4,011 7,147 7,332 Cash NOI $ 10,471 $ 10,244 $ 11,246 $ 21,948 $ 21,875 Occupancy 87.0% 85.6% 85.3% 86.6% 86.7% Specialty Hospitals and Other Number of Properties 25 24 22 22 22 Number of Beds 1,193 1,193 1,085 1,085 1,085 Cash NOI $ 13,256 $ 12,798 $ 12,796 $ 12,608 $ 12,177 Occupancy 71.0% 72.4% 74.0% 75.5% 76.7% (1) Occupancy Percentage and Skilled Mix (collectively, “Operating Statistics”) and EBITDARM Coverage for each period presented include only facilities owned by the Company as of the end of the current period for the duration that such facilities were classified as Stabilized Facilities. EBITDARM Coverage and Operating Statistics are only included in periods subsequent to our acquisition except for EBITDARM Coverage for the North American Healthcare portfolio, which is presented on a trailing twelve month basis and consists of EBITDARM Coverage for facilities owned by Sabra in periods subsequent to our acquisition and underwritten stabilized EBITDARM Coverage for periods preceding our acquisition. EBITDARM Coverage reflects the previously announced rent repositioning program for certain of our tenants who were legacy tenants of Care Capital Properties, Inc. (“CCP”). In addition, EBITDARM Coverage and Operating Statistics are presented for the twelve months ended at the end of the respective period and one quarter in arrears, and therefore, EBITDARM Coverage and Operating Statistics exclude assets acquired after September 30, 2019. 5 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

PORTFOLIO Same Store Triple-Net Portfolio Same Store Triple-Net Portfolio (1) Dollars in thousands Number of Beds/Units Cash NOI Number of Properties 4Q 2019 3Q 2019 4Q 2019 3Q 2019 Skilled Nursing/Transitional Care 296 33,290 33,357 $ 77,443 $ 75,861 Senior Housing - Leased 61 3,762 3,762 $ 10,337 $ 10,036 Specialty Hospitals and Other 22 1,085 1,085 $ 12,556 $ 12,531 Same Store Triple-Net Portfolio — EBTIDARM Coverage (2) 4Q 2019 3Q 2019 Skilled Nursing/Transitional Care 1.59x 1.62x Specialty Hospitals and Other 3.25x 3.24x Aggregate Acute/Post Acute and Other 1.86x 1.89x Senior Housing - Leased 1.39x 1.37x Same Store Triple-Net Portfolio — Operating Statistics (2) Occupancy Skilled Mix 4Q 2019 3Q 2019 4Q 2019 3Q 2019 Skilled Nursing/Transitional Care 83.2% 83.0% 38.2% 38.3% Senior Housing - Leased 88.0% 88.2% N/A N/A Specialty Hospitals and Other 71.0% 72.4% N/A N/A (1) Same store triple-net portfolio includes all facilities owned for the full period in both comparison periods. (2) Same store EBITDARM Coverage and Operating Statistics are presented for the twelve months ended at the end of the respective period and one quarter in arrears for Stabilized Facilities owned for the full period in both comparison periods and reflect the previously announced rent repositioning program for certain of our tenants who were legacy tenants of CCP. 6 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

PORTFOLIO Top 10 Relationships Top 10 Relationships As of December 31, 2019 EBITDARM Coverage Twelve Months Ended Number of Sabra % of Annualized Tenant Primary Facility Type Properties (1) Cash NOI (1) December 31, 2019 (2) September 30, 2019 (2) Enlivant Assisted Living 181 9.9% N/A N/A Avamere Family of Companies (3) Skilled Nursing 28 8.0% 1.17x 1.26x North American Healthcare (4) Skilled Nursing 24 7.1% 1.55x 1.52x Signature Healthcare (5) Skilled Nursing 44 7.1% 1.60x 1.62x Cadia Healthcare (6) Skilled Nursing 9 6.7% 1.77x 1.76x Signature Behavioral (7) Behavioral Hospitals 6 6.2% 1.59x 1.59x Holiday AL Holdings LP Independent Living 22 5.4% N/A N/A Genesis Healthcare, Inc. (8) Skilled Nursing 11 4.7% 1.64x 1.76x Healthmark Group (9) Skilled Nursing 18 3.2% 1.52x 1.50x The McGuire Group Skilled Nursing 7 2.9% 2.22x 2.21x 350 61.2% (1) Consists of properties directly owned by us and properties owned through our joint venture with Enlivant. (2) EBITDARM Coverage is presented for Stabilized Facilities operated by the applicable tenant and is presented one quarter in arrears. (3) EBITDARM Coverage excludes one non-stabilized facility representing 0.2% of Annualized Cash NOI. (4) EBITDARM Coverage excludes one non-stabilized facility representing 0.4% of Annualized Cash NOI. (5) EBTIDARM Coverage excludes three non-stabilized facilities representing 0.3% of Annualized Cash NOI. (6) EBITDARM Coverage excludes five non-stabilized facilities representing 4.6% of Annualized Cash NOI. (7) EBITDARM Coverage excludes one non-stabilized facility representing 0.8% of Annualized Cash NOI. (8) EBITDARM Coverage excludes three non-stabilized facilities representing 0.8% of Annualized Cash NOI. EBITDARM Coverage excludes a prorated portion of the residual rents due to Sabra from prior asset sales under our 2017 memorandum of understanding with Genesis. (9) EBITDARM Coverage excludes five non-stabilized facilities representing 0.9% of Annualized Cash NOI. 7 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

PORTFOLIO Senior Housing - Managed Portfolio Senior Housing - Managed Portfolio by Operator (1) Dollars in thousands, except REVPOR 4Q 2019 4Q 2018 Enlivant Sabra’s Share of Unconsolidated JV (2) Wholly-Owned Total Enlivant Holiday Sienna Other Total Total Property Type AL AL AL IL IL AL AL / IL AL / IL Number of Properties 170 11 181 22 8 5 216 195 Number of Units 7,538 631 8,169 3,116 756 306 12,347 9,255 Investment (3) $ 740,930 $ 127,220 $ 868,150 $ 583,453 $ 129,328 $ 67,769 $ 1,648,700 $ 1,036,552 Capital Expenditures: (3) Recurring $ 1,148 $ 147 $ 1,295 $ 638 $ 723 $ 91 $ 2,747 $ 1,898 Non-recurring $ 2,354 $ — $ 2,354 $ 511 $ 275 $ 115 $ 3,255 $ 836 Revenues $ 39,241 $ 9,838 $ 49,079 $ 19,623 $ 5,038 $ 4,022 $ 77,762 $ 56,538 Cash NOI $ 10,089 $ 2,942 $ 13,031 $ 7,046 $ 1,906 $ 628 $ 22,611 $ 15,117 Cash NOI Margin % 25.7% 29.9% 26.6% 35.9% 37.8% 15.6% 29.1% 26.7% REVPOR $ 4,418 $ 5,810 $ 4,649 $ 2,486 $ 2,268 $ 5,968 $ 3,634 $ 4,084 Occupancy 82.2% 89.5% 83.3% 87.8% 88.3% 79.6% 85.3% 84.5% Senior Housing - Managed Portfolio — Wholly-Owned (1) Dollars in thousands, except REVPOR 4Q 2019 3Q 2019 2Q 2019 1Q 2019 4Q 2018 Number of Properties 46 44 44 23 23 Number of Units 4,809 4,470 4,470 1,603 1,603 Capital Expenditures: (3) Recurring $ 1,599 $ 1,327 $ 751 $ 256 $ 611 Non-recurring $ 901 $ 173 $ 362 $ 147 $ 245 Revenues $ 38,521 $ 36,409 $ 36,156 $ 17,107 $ 17,718 Cash NOI $ 12,522 $ 12,427 $ 11,863 $ 5,038 $ 5,199 Cash NOI Margin % 32.5% 34.1% 32.8% 29.4% 29.3% REVPOR - AL $ 5,850 $ 5,591 $ 5,519 $ 5,449 $ 5,535 REVPOR - IL $ 2,436 $ 2,433 $ 2,405 $ 2,219 $ 2,196 Occupancy 87.7% 88.7% 89.2% 89.8% 91.5% Senior Housing - Managed Portfolio — Sabra’s Share of Unconsolidated JV (1)(2) Dollars in thousands, except REVPOR 4Q 2019 3Q 2019 2Q 2019 1Q 2019 4Q 2018 Number of Properties 170 170 170 172 172 Number of Units 7,538 7,538 7,538 7,652 7,652 Capital Expenditures: Recurring $ 1,148 $ 1,064 $ 888 $ 602 $ 1,287 Non-recurring $ 2,354 $ 1,164 $ 1,336 $ 579 $ 591 Revenues $ 39,241 $ 37,908 $ 37,755 $ 38,003 $ 38,820 Cash NOI $ 10,089 $ 10,115 $ 9,361 $ 9,829 $ 9,918 Cash NOI Margin % 25.7% 26.7% 24.8% 25.9% 25.5% REVPOR (all AL) $ 4,418 $ 4,307 $ 4,272 $ 4,159 $ 4,230 Occupancy 82.2% 81.4% 81.8% 81.2% 81.7% (1) REVPOR and Occupancy Percentage include only facilities owned by the Company as of the end of the period presented for the duration that such facilities were classified as Stabilized Facilities and are presented for the three months ended at the end of the respective period. In addition, revenues, Cash NOI and REVPOR have been adjusted for changes in the foreign currency exchange rate where applicable. (2) Reflects Sabra’s 49% pro rata share of applicable amounts related to its unconsolidated joint venture with Enlivant. (3) Balances related to properties in Canada are based on the exchange rate as of the end of the period presented. The exchange rate as of December 31, 2019 was $0.7682 per CAD $1.00. 8 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

PORTFOLIO Same Store Senior Housing - Managed Portfolio Same Store Senior Housing - Managed Portfolio — Wholly-Owned (1) Dollars in thousands, except REVPOR 4Q 2019 3Q 2019 2Q 2019 1Q 2019 4Q 2018 Number of Properties 23 23 23 23 23 Revenues $ 18,297 $ 17,478 $ 17,299 $ 17,107 $ 17,577 Cash NOI $ 5,471 $ 5,143 $ 4,911 $ 5,038 $ 5,171 Cash NOI Margin % 29.9% 29.4% 28.4% 29.4% 29.4% REVPOR - AL $ 5,843 $ 5,591 $ 5,519 $ 5,449 $ 5,535 REVPOR - IL $ 2,268 $ 2,262 $ 2,221 $ 2,219 $ 2,196 Occupancy 89.2% 88.9% 89.3% 89.8% 91.5% Same Store Senior Housing - Managed Portfolio — Sabra’s Share of Unconsolidated JV (1)(2) Dollars in thousands, except REVPOR 4Q 2019 3Q 2019 2Q 2019 1Q 2019 4Q 2018 Number of Properties 170 170 170 170 170 Revenues $ 39,241 $ 37,908 $ 37,717 $ 37,768 $ 38,563 Cash NOI $ 10,089 $ 10,115 $ 9,381 $ 9,835 $ 9,952 Cash NOI Margin % 25.7% 26.7% 24.9% 26.0% 25.8% REVPOR (all AL) $ 4,418 $ 4,307 $ 4,272 $ 4,171 $ 4,243 Occupancy 82.2% 81.4% 81.8% 81.7% 82.1% (1) Same store Senior Housing - Managed portfolio includes all facilities owned for the full period in all comparison periods. Same store REVPOR and Occupancy Percentage are presented for the three months ended at the end of the respective period for Stabilized Facilities owned for the full period in all comparison periods. In addition, revenues, Cash NOI and REVPOR have been adjusted for changes in the foreign currency exchange rate where applicable. (2) Reflects Sabra’s 49% pro rata share of applicable amounts related to its unconsolidated joint venture with Enlivant. 9 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

PORTFOLIO Loans and Other Investments | Development Pipeline Loans Receivable and Other Investments Dollars in thousands As of December 31, 2019 Weighted Weighted Average Average Interest Income Three Number of Contractual Annualized Effective Months Ended Loan Type Loans Property Type Principal Balance Book Value Interest Rate Interest Rate December 31, 2019 (1) Maturity Date Mortgage 1 Specialty Hospital $ 19,000 $ 19,000 10.0% 10.0% $ 486 01/31/27 Construction 1 Senior Housing 2,468 2,487 8.0% 7.8% 50 09/30/22 09/23/19- Other 16 Multiple 46,059 42,147 6.8% 7.0% 959 08/31/28 18 67,527 63,634 7.8% 7.9% $ 1,495 Loan loss reserve — (564) $ 67,527 $ 63,070 Other Income Number of Total Funding Total Amount (2) Three Months Ended Other Investment Type Investments Property Type Commitments Funded Book Value Rate of Return December 31, 2019 (1) Skilled Nursing / Preferred Equity 9 Senior Housing $ 35,192 $ 35,192 $ 44,304 12.0% $ 1,287 Proprietary Development Pipeline (2) Dollars in thousands As of December 31, 2019 Estimated Real Estate Value Investment Type Property Type Investment Amount (3) Upon Completion Skilled Skilled Skilled Weighted Nursing/ Nursing/ Nursing/ Average Certificate of Preferred Transitional Senior Transitional Senior Transitional Senior Initial Cash Occupancy State Loan Equity Care Housing Care Housing Care Housing Lease Yield Timing (4) Q1 2017- Indiana — 3 — 3 $ — $ 18,086 $ — $ 100,363 7.4% Q3 2017 Kentucky — 1 — 1 — 2,509 — 24,000 7.4% Q4 2015 Q1 2018- Ohio — 2 — 2 — 12,052 — 68,000 7.3% Q4 2019 Q3 2015- Texas 1 2 1 2 3,743 8,783 14,475 30,700 8.0% Q4 2019 1 8 1 8 $ 3,743 $ 41,430 $ 14,475 $ 223,063 7.5% (1) Includes income related to loans receivable and other investments held as of December 31, 2019. (2) Includes projects invested in or committed to as of December 31, 2019. Subsequent to December 31, 2019, three preferred equity investments with a December 31, 2019 aggregate book value of $16.2 million and an aggregate real estate value of $83.3 million were transitioned to our real estate portfolio. See pages 19-21. (3) Investment amount excludes accrued and unpaid interest receivable. (4) Certificate of occupancy timing represents the period in which the certificate of occupancy has been received for a development project where construction has been completed or when the certificate of occupancy is expected to be received for a development project that is currently under construction. 10 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

PORTFOLIO NOI Concentrations (1) As of December 31, 2019 RELATIONSHIP CONCENTRATION Enlivant: 9.9% Avamere Family of Companies: 8.0% North American Healthcare: 7.1% Signature Healthcare: 7.1% Other: 61.2% Cadia Healthcare: 6.7% ASSET CLASS CONCENTRATION Senior Housing - Managed: 17.3% Specialty Hospital and Other: 9.8% Skilled Nursing/ Transitional Senior Housing - Care: 61.1% Leased: 9.8% Interest and Other Income: 2.0% PAYOR SOURCE CONCENTRATION (2) Private Pay: 42.3% Non-Private: 57.7% (1) Concentrations are calculated using Annualized Cash NOI. Relationship and asset class concentrations use Annualized Cash NOI for real estate investments, investments in loans receivable and other investments, and investment in unconsolidated joint venture. Payor source concentration excludes Annualized Cash NOI from investments in loans receivable and other investments. (2) Tenant and borrower revenue presented one quarter in arrears. 11 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

PORTFOLIO Geographic Concentrations Property Type As of December 31, 2019 Unconsolidated JV Skilled Nursing/ Senior Housing - Senior Housing - Specialty Hospitals % of Consolidated Senior Housing - Location Transitional Care Leased Managed and Other Consolidated Total Total Managed Total % of Total Texas 40 9 5 14 68 15.8% 29 97 16.2% Indiana 14 1 — 1 16 3.7 21 37 6.2 Washington 15 1 1 — 17 4.0 17 34 5.7 California 24 1 1 4 30 7.0 — 30 5.0 Oregon 15 4 — — 19 4.4 11 30 5.0 Kentucky 24 — — 2 26 6.1 1 27 4.5 Ohio 6 1 — — 7 1.6 15 22 3.7 Wisconsin 5 3 3 — 11 2.6 10 21 3.5 Pennsylvania 3 — 5 1 9 2.1 11 20 3.3 Massachusetts 18 — — — 18 4.2 — 18 3.0 Other (34 states & Canada) 132 42 31 3 208 48.5 55 263 43.9 Total 296 62 46 25 429 100.0% 170 599 100.0% % of Consolidated Total 69.0% 14.5% 10.7% 5.8% 100.0% % of Total 49.4% 10.3% 7.7% 4.2% 71.6% 28.4% 100.0% Distribution of Beds/Units As of December 31, 2019 Property Type Unconsolidated JV Total Number Skilled Nursing/ Senior Housing - Senior Housing - Specialty Hospitals % of Consolidated Senior Housing - Location of Properties Transitional Care Leased Managed and Other Consolidated Total Total Managed Total % of Total Texas 97 4,816 577 743 366 6,502 15.1% 1,122 7,624 15.1% Kentucky 27 2,598 — — 100 2,698 6.3 55 2,753 5.4 Indiana 37 1,547 140 — 48 1,735 4.0 963 2,698 5.3 California 30 2,058 58 102 340 2,558 5.9 — 2,558 5.1 Washington 34 1,591 52 113 — 1,756 4.1 725 2,481 4.9 Oregon 30 1,520 377 — — 1,897 4.4 399 2,296 4.5 Massachusetts 18 2,209 — — — 2,209 5.1 — 2,209 4.4 North Carolina 15 1,454 — 237 — 1,691 3.9 — 1,691 3.3 New York 10 1,566 — 105 — 1,671 3.9 — 1,671 3.3 Missouri 15 1,392 — 184 — 1,576 3.7 — 1,576 3.1 Other (34 states & Canada) 286 12,539 2,616 3,325 339 18,819 43.6 4,274 23,093 45.6 Total 599 33,290 3,820 4,809 1,193 43,112 100.0% 7,538 50,650 100.0% % of Consolidated Total 77.2% 8.9% 11.1% 2.8% 100.0% % of Total 65.7% 7.5% 9.5% 2.4% 85.1% 14.9% 100.0% 12 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

PORTFOLIO Geographic Concentrations Continued Investment (1) Dollars in thousands As of December 31, 2019 Property Type Total Number Skilled Nursing/ Senior Housing - Senior Housing - Specialty Hospitals Location of Properties Transitional Care Leased Managed and Other Total % of Total Texas 68 $ 384,682 $ 81,305 $ 156,225 $ 196,098 $ 818,310 13.9% California 30 435,612 18,160 36,340 224,761 714,873 12.2 Oregon 19 261,316 86,860 — — 348,176 5.9 Maryland 9 322,390 6,681 — — 329,071 5.6 New York 10 297,326 — 19,945 — 317,271 5.4 Kentucky 26 228,773 — — 39,696 268,469 4.6 Washington 17 188,548 10,686 27,636 — 226,870 3.8 Indiana 16 174,427 26,161 — 5,310 205,898 3.5 Arizona 8 31,977 10,348 37,969 121,757 202,051 3.4 North Carolina 15 123,462 — 68,251 — 191,713 3.3 Other (31 states & Canada) (2) 211 1,253,153 390,487 561,405 52,099 2,257,144 38.4 Total 429 $ 3,701,666 $ 630,688 $ 907,771 $ 639,721 $ 5,879,846 100.0% % of Total investment 63.0% 10.7% 15.4% 10.9% 100.0% (1) Excludes unconsolidated joint venture. (2) Investment balance in Canada is based on the exchange rate as of December 31, 2019 of $0.7682 per CAD $1.00. 13 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

PORTFOLIO Lease Expirations Lease Expirations (1) Dollars in thousands Skilled Nursing/ Senior Housing - Specialty Hospitals Total Annualized As of December 31, 2019 Transitional Care Leased and Other Revenues % of Total 2020 (2) $ 11,641 $ — $ 1,241 $ 12,882 3.0% 2021 4,557 1,165 — 5,722 1.3% 2022 24,121 4,990 3,965 33,076 7.8% 2023 8,851 — — 8,851 2.1% 2024 32,417 4,485 — 36,902 8.7% 2025 9,702 8,111 — 17,813 4.2% 2026 24,710 603 — 25,313 6.0% 2027 38,427 2,463 32,727 73,617 17.3% 2028 14,729 7,694 3,919 26,342 6.2% 2029 52,825 3,511 5,628 61,964 14.6% Thereafter 99,529 18,257 4,253 122,039 28.8% Total Annualized Revenues $ 321,509 $ 51,279 $ 51,733 $ 424,521 100.0% (1) Excludes (i) Senior Housing - Managed communities and (ii) two non-operational Skilled Nursing/Transitional Care facilities. Annualized Revenues are net of repositioning reserves, if applicable. (2) 2020 lease expirations include (i) for Skilled Nursing/Transitional Care leases, $4.9 million in the second quarter, $1.0 million in the third quarter and $5.7 million in the fourth quarter (on December 31, 2020) and (ii) for Specialty Hospitals and Other leases, $1.2 million in the fourth quarter. 14 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

INVESTMENT ACTIVITY Summary Investment Activity Dollars in thousands Initial Number of 2019 Amounts Rate of Return/Initial Location Investment Date Property Type Properties Beds/Units Invested (1) Cash Yield Real Estate Landmark Portfolio 07/24/19 & Specialty Hospitals 2 108 $ 14,827 9.00% 08/21/19 and Other The Monarch at Richardson (2) 11/01/19 Senior Housing - 1 66 13,500 7.50% Managed Cadence at Poway Gardens 11/22/19 Senior Housing - 1 58 18,500 6.50% Leased RCA at Monroeville (3) 12/18/19 Specialty Hospitals 1 138 3,750 9.00% and Other Additions to Real Estate (4) Various Multiple N/A N/A 16,447 7.53% Total Real Estate Investments 67,024 7.65% Loans Receivable Montecito Promissory Note (5) 09/23/16 Senior Housing 1 N/A 75 9.25% River Vista Mortgage Loan (5) 08/17/17 Specialty Hospitals 1 N/A 423 10.00% and Other Arlington Construction Loan (5) 09/07/17 Senior Housing 1 27 1,266 8.00% Signature Working Capital Loan (5) 05/07/18 Skilled Nursing/ N/A N/A 3,000 7.00% Transitional Care Wye Oak Working Capital Loan (5) 12/19/18 Skilled Nursing/ N/A N/A 4,583 7.00% Transitional Care Wingate Term Loan 01/15/19 Skilled Nursing/ N/A N/A 3,500 8.75% Transitional Care Avista Working Capital Loan 08/22/19 Senior Housing N/A N/A 157 8.00% Total Loans Receivable 13,004 7.69% All Investments in 2019 $ 80,028 7.65% Subsequent to year-end: Real Estate Traditions of Brookside (6) 01/07/20 Senior Housing - 1 157 $ 33,363 7.24% Leased Elan Westpointe (6) 01/15/20 Senior Housing - 1 113 25,000 8.00% Managed Traditions of Beaumont (6) 01/31/20 Senior Housing - 1 142 24,000 7.38% Leased Total Real Estate Investments $ 82,363 7.51% (1) Excludes capitalized acquisition costs and origination fees. (2) Reflects estimated stabilized cash yield. (3) Bed count reflects expected capacity at the completion of an $18.5 million construction project currently in progress. (4) Excludes capital expenditures for the Senior Housing - Managed portfolio and recurring capital expenditures for the Triple-Net portfolio. (5) Initial investment occurred prior to 2019. Amounts invested reflect incremental fundings during the 2019 calendar year. (6) Amounts invested reflect the gross investment, of which a portion was used to repay our preferred equity investments. See pages 19-21 for further detail. 15 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

INVESTMENT ACTIVITY Recent THE MONARCH AT RICHARDSON Investment Date Units November 1, 2019 90 Investment Amount (1) Property Type $13.6 million Senior Housing - Managed Investment Type Estimated Stabilized Cash Yield Real Estate 7.50% Number of Properties Manager 1 Solvere Living Location Texas (1) Includes capitalized acquisition costs. 16 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

INVESTMENT ACTIVITY Recent CADENCE AT POWAY GARDENS Investment Date Units November 22, 2019 58 Investment Amount (1) Property Type $18.6 million Senior Housing - Leased Investment Type Annualized GAAP Income Real Estate $1.4 million Number of Properties Initial Cash Yield 1 6.50% Location California (1) Includes capitalized acquisition costs. 17 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

INVESTMENT ACTIVITY Recent RCA AT MONROEVILLE Investment Date Beds (2) December 18, 2019 138 Investment Amount (1) Property Type $22.5 million ($4.0 million as of December 31, 2019) Specialty Hospitals and Other Investment Type Annualized GAAP Income (2) Real Estate $2.1 million Number of Properties Initial Cash Yield 1 9.00% Location Pennsylvania (1) Includes capitalized acquisition costs. (2) Reflects amounts expected at the completion of an $18.5 million construction project currently in progress and estimated to be completed in early 2021. 18 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

INVESTMENT ACTIVITY Recent TRADITIONS OF BROOKSIDE From Proprietary Development Pipeline Investment Date Units January 7, 2020 157 Investment Amount (1) Property Type $33.4 million Senior Housing - Leased Investment Type Annualized GAAP Income Real Estate $3.0 million Number of Properties Initial Cash Yield 1 7.24% Location Indiana (1) Gross investment of $33.4 million, of which $7.1 million was used to repay our preferred equity investment in this property. Includes capitalized acquisition costs. 19 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

INVESTMENT ACTIVITY Recent ELAN WESTPOINTE From Proprietary Development Pipeline Investment Date Units January 15, 2020 113 Investment Amount (1) Property Type $25.8 million Senior Housing - Managed Investment Type Estimated Initial Cash Yield Real Estate 8.00% Number of Properties Manager 1 Civitas Senior Living Location Texas (1) Gross investment of $25.8 million, of which $6.4 million was used to repay our preferred equity investment in this property. Includes capitalized acquisition costs. 20 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

INVESTMENT ACTIVITY Recent TRADITIONS OF BEAUMONT From Proprietary Development Pipeline Investment Date Units January 31, 2020 142 Investment Amount (1) Property Type $24.1 million Senior Housing - Leased Investment Type Annualized GAAP Income Real Estate $2.2 million Number of Properties Initial Cash Yield 1 7.38% Location Kentucky (1) Gross investment of $24.1 million, of which $2.5 million was used to repay our preferred equity investment in this property. Includes capitalized acquisition costs. 21 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

CAPITALIZATION Overview Debt Dollars in thousands Sabra's Share of As of December 31, 2019 Consolidated Debt Unconsolidated JV Debt Total Debt Secured debt $ 114,777 $ 378,655 $ 493,432 Revolving credit facility — — — Term loans 1,051,025 — 1,051,025 Senior unsecured notes 1,250,000 — 1,250,000 Total Debt 2,415,802 378,655 2,794,457 Deferred financing costs and premiums/discounts, net (13,701) (4,462) (18,163) Total Debt, Net $ 2,402,101 $ 374,193 $ 2,776,294 Revolving Credit Facility Dollars in thousands As of December 31, 2019 Credit facility availability $ 1,000,000 Credit facility capacity 1,000,000 Enterprise Value Dollars in thousands, except per share amounts As of December 31, 2019 Shares Outstanding Price Value Common stock 205,208,018 $ 21.34 $ 4,379,139 Consolidated Debt 2,415,802 Cash and cash equivalents (39,097) Consolidated Enterprise Value 6,755,844 Sabra’s share of unconsolidated joint venture debt 378,655 Sabra's share of unconsolidated joint venture cash and cash equivalents (5,980) Total Enterprise Value $ 7,128,519 At-The-Market Common Stock Offering Program Dollars in thousands, except per share amounts Three Months Ended December 31, 2019 Shares issued 11,497,763 Net proceeds $ 248,373 Weighted average price per share $ 21.87 Availability as of December 31, 2019 $ 339,994 Common Stock and Equivalents Weighted Average Common Shares Three Months Ended December 31, 2019 Year Ended December 31, 2019 EPS, FFO and AFFO and AFFO and Normalized FFO Normalized AFFO EPS, FFO and Normalized FFO Normalized AFFO Common stock 197,805,873 197,805,873 187,141,422 187,141,422 Common equivalents 34,307 34,307 30,788 30,788 Basic common and common equivalents 197,840,180 197,840,180 187,172,210 187,172,210 Dilutive securities: Restricted stock and units 1,208,301 1,655,869 954,882 1,603,662 Diluted common and common equivalents 199,048,481 199,496,049 188,127,092 188,775,872 22 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

CAPITALIZATION Indebtedness Fixed | Variable Rate Debt Dollars in thousands Weighted Average As of December 31, 2019 Principal Effective Rate (1) % of Total Fixed Rate Debt Secured debt $ 114,777 3.67% 4.1% Unsecured senior notes 1,250,000 4.72% 44.7% Total fixed rate debt 1,364,777 4.64% 48.8% Variable Rate Debt (2) Term loans 1,051,025 2.52% 37.6% Sabra’s share of unconsolidated joint venture variable rate debt 378,655 4.31% 13.6% Total variable rate debt 1,429,680 2.99% 51.2% Total Debt $ 2,794,457 3.79% 100.0% Secured | Unsecured Debt Dollars in thousands Weighted Average As of December 31, 2019 Principal Effective Rate (1) % of Total Secured Debt Secured debt $ 114,777 3.67% 4.1% Sabra’s share of unconsolidated joint venture secured debt 378,655 4.31% 13.6% Total secured debt 493,432 4.16% 17.7% Unsecured Debt Unsecured senior notes 1,250,000 4.72% 44.7% Term loans 1,051,025 2.52% 37.6% Total unsecured debt 2,301,025 3.72% 82.3% Total Debt $ 2,794,457 3.79% 100.0% (1) Weighted average effective interest rate includes private mortgage insurance and impact of interest rate derivative agreements. (2) Term loans include $845.0 million subject to swap agreements that fix LIBOR at a weighted average rate of 1.19%, and $68.0 million (CAD $90.0 million) and $26.4 million (CAD $35.0 million) subject to swap agreements that fix CDOR at 1.59% and 0.93%, respectively. Excluding these amounts, variable rate debt was 17.5% of Total Debt as of December 31, 2019. Additionally, unconsolidated joint venture debt includes $368.4 million subject to interest rate cap agreements that cap LIBOR at a weighted average rate of 2.89%. 23 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

CAPITALIZATION Debt Maturity Debt Maturity Schedule (1) Sabra's Share of Dollars in thousands Secured Debt Unsecured Senior Notes Term Loans Revolving Credit Facility Consolidated Debt Unconsolidated JV Debt Total Debt As of December 31, 2019 Principal Rate (2) Principal Rate (2) Principal Rate (2) Principal Rate (2) Principal Rate (2) Principal Rate (2) Principal Rate (2) 2020 $ 3,568 3.28% $ — — $ — — $ — — $ 3,568 3.28% $ 3,505 4.29% $ 7,073 3.78% 2021 18,853 3.28% — — — — — — 18,853 3.28% 14,851 4.29% 33,704 3.72% 2022 3,198 3.22% — — 105,000 3.01% — — 108,198 3.02% 6,230 4.28% 114,428 3.09% 2023 3,296 3.22% — — 350,000 3.01% — — 353,296 3.01% 6,609 4.28% 359,905 3.04% 2024 3,396 3.23% 300,000 4.80% 596,025 3.06% — — 899,421 3.64% 6,660 4.28% 906,081 3.65% 2025 3,501 3.24% — — — — — — 3,501 3.24% 188,866 4.28% 192,367 4.26% 2026 3,608 3.25% 500,000 5.13% — — — — 503,608 5.11% 81,497 4.48% 585,105 5.02% 2027 3,719 3.26% 100,000 5.38% — — — — 103,719 5.30% 70,437 4.20% 174,156 4.86% 2028 3,833 3.27% — — — — — — 3,833 3.27% — — 3,833 3.27% 2029 3,951 3.29% 350,000 3.90% — — — — 353,951 3.89% — — 353,951 3.89% Thereafter 63,854 3.43% — — — — — — 63,854 3.43% — — 63,854 3.43% Total Debt 114,777 1,250,000 1,051,025 — 2,415,802 378,655 2,794,457 Premium, net — 7,612 — — 7,612 — 7,612 Deferred financing costs, net (1,707) (8,839) (10,767) — (21,313) (4,462) (25,775) Total Debt, Net $ 113,070 $ 1,248,773 $ 1,040,258 $ — $ 2,402,101 $ 374,193 $ 2,776,294 Wtd. avg. maturity/years 21.1 7.0 4.2 3.7 6.5 5.7 6.4 Wtd. avg. interest rate (3) 3.67% 4.72% 2.52% 2.91% 3.71% 4.31% 3.79% (1) Revolving Credit Facility is subject to two six-month extension options. (2) Represents actual contractual interest rates excluding private mortgage insurance and impact of interest rate derivative agreements. (3) Weighted average interest rate includes private mortgage insurance and impact of interest rate derivative agreements. 24 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

CAPITALIZATION Credit Metrics and Ratings Key Credit Metrics (1) December 31, 2018 December 31, 2019 Net Debt to Adjusted EBITDA (2)(3) 5.75x 4.89x Net Debt to Adjusted EBITDA - Including Unconsolidated Joint Venture (2)(3) 6.12x 5.38x Interest Coverage (2) 4.18x 5.28x Fixed Charge Coverage Ratio (2) 4.05x 5.08x Total Debt/Asset Value 43% 36% Secured Debt/Asset Value 2% 2% Unencumbered Assets/Unsecured Debt 218% 275% Cost of Permanent Debt (4) 4.28% 3.79% Unsecured Notes Ratings S&P (Stable outlook) BBB- Fitch (Negative outlook) BBB- Moody's (Stable outlook) Ba1 (1) Key credit statistics (except net debt to adjusted EBITDA) are calculated in accordance with the credit agreement relating to the revolving credit facility and the indentures relating to our unsecured senior notes. (2) Based on the trailing twelve month period ended as of the date indicated. (3) Net Debt to Adjusted EBITDA is calculated based on Annualized Adjusted EBITDA, which is Adjusted EBITDA, as adjusted for annualizing adjustments that give effect to the acquisitions and dispositions completed during the respective period as though such acquisitions and dispositions were completed as of the beginning of the period presented. Net Debt to Adjusted EBITDA - Including Unconsolidated Joint Venture is calculated based on Annualized Adjusted EBITDA, as adjusted, which includes Annualized Adjusted EBITDA and is further adjusted to include the Company's share of the unconsolidated joint venture interest expense. See “Reconciliations of Non-GAAP Financial Measures” on our website at http://www.sabrahealth.com/investors/financials/reports-presentations/non-gaap for additional information. (4) Excludes revolving credit facility balance that had an interest rate of 2.91% and 3.75% as of December 31, 2019 and 2018, respectively. 25 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

FINANCIAL INFORMATION 2020 Outlook 2020 Full Year Guidance Diluted per share data attributable to common stockholders Net income $ 0.81 - $ 0.91 FFO $ 1.69 - $ 1.79 Normalized FFO $ 1.71 - $ 1.81 AFFO $ 1.70 - $ 1.80 Normalized AFFO $ 1.70 - $ 1.80 Annualized dividend per share $1.80 Investing Assumptions • Investments during 2020 of $159 million with a weighted average initial cash yield of 7.4%. Of that amount, $82 million of investments have already been completed in 2020, and the remaining $77 million of investments are expected to occur throughout the remainder of the year. $15 million of the remaining $77 million is expected to be from our development pipeline, with the other $62 million related to fundings under existing investments. Our 2020 earnings guidance assumes no speculative investment activity in 2020. • Dispositions and loan repayments during 2020 for estimated aggregate proceeds of $111 million, with associated annualized Cash NOI of $7 million. The majority of the dispositions and repayments are expected to occur in the second quarter. These dispositions are expected to result in a net gain on sale of real estate of $12 million. Financing Assumptions • Our earnings guidance assumes that we maintain Net Debt to Annualized Adjusted EBITDA (including unconsolidated joint venture) below 5.50x throughout the year on Annualized Adjusted EBITDA between $495 million and $502 million for the year ended December 31, 2020. We expect to repay $32 million of mortgage debt with a weighted average interest rate of 2.46% in the second quarter related to dispositions. We also expect to issue between $120 million and $140 million of equity under our ATM program to fund investment activity and maintain our ratio of Net Debt to Adjusted EBITDA below 5.50x in 2020. Senior Housing - Managed Portfolio Same Store Cash NOI Growth (Mid-Point) • Wholly-owned: 4% • Unconsolidated Joint Venture: 3% Other Assumptions • Non-cash rental income: $21 million • Interest and other income: $13 million • Recurring, cash general and administrative expense: $26 million • Stock-based compensation expense: $10 million • Cash interest expense: $91 million • Non-cash interest expense: $9 million • Unconsolidated Joint Venture cash interest expense: $15 million • Unconsolidated Joint Venture non-cash interest expense: $1 million • Non-yielding capital expenditures of $21 million, split between our wholly-owned Senior Housing - Managed Portfolio and our leased portfolio 26 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

FINANCIAL INFORMATION Consolidated Financial Statements Consolidated Statements of Income (Loss) Dollars in thousands, except per share data Three Months Ended December 31, Year Ended December 31, 2019 2018 2019 2018 Revenues: Rental and related revenues $ 112,847 $ 117,654 $ 452,138 $ 536,605 Interest and other income 4,395 3,844 81,540 16,667 Resident fees and services 38,521 17,711 128,058 70,137 Total revenues 155,763 139,209 661,736 623,409 Expenses: Depreciation and amortization 44,032 48,078 181,549 191,379 Interest 27,429 37,226 126,610 147,106 Triple-net portfolio operating expenses 5,075 — 22,215 — Senior housing - managed portfolio operating expenses 25,999 12,512 86,257 49,546 General and administrative 5,702 11,298 30,462 36,458 Merger and acquisition costs 232 43 424 636 (Recovery of) provision for doubtful accounts, straight-line rental income and loan losses (219) 29,626 1,238 39,075 Impairment of real estate 2,717 — 121,819 1,413 Total expenses 110,967 138,783 570,574 465,613 Other (expense) income: Loss on extinguishment of debt (5,577) (2,917) (16,340) (2,917) Other income 1,709 324 2,094 4,480 Net gain (loss) on sales of real estate 1,084 (14,247) 2,300 128,198 Total other (loss) income (2,784) (16,840) (11,946) 129,761 Income (loss) before loss from unconsolidated joint venture and income tax expense 42,012 (16,414) 79,216 287,557 Loss from unconsolidated joint venture (1,161) (1,805) (6,796) (5,431) Income tax expense (1,110) (1,164) (3,402) (3,011) Net income (loss) 39,741 (19,383) 69,018 279,115 Net income attributable to noncontrolling interests — (11) (22) (33) Net income (loss) attributable to Sabra Health Care REIT, Inc. 39,741 (19,394) 68,996 279,082 Preferred stock dividends — — — (9,768) Net income (loss) attributable to common stockholders $ 39,741 $ (19,394) $ 68,996 $ 269,314 Net income (loss) attributable to common stockholders, per: Basic common share $ 0.20 $ (0.11) $ 0.37 $ 1.51 Diluted common share $ 0.20 $ (0.11) $ 0.37 $ 1.51 Weighted-average number of common shares outstanding, basic 197,840,180 178,314,638 187,172,210 178,305,738 Weighted-average number of common shares outstanding, diluted 199,048,481 178,314,638 188,127,092 178,721,744 27 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

FINANCIAL INFORMATION Consolidated Financial Statements Consolidated Balance Sheets Dollars in thousands, except per share data December 31, 2019 2018 Assets Real estate investments, net of accumulated depreciation of $539,213 and $402,338 as of December 31, 2019 and 2018, respectively $ 5,341,370 $ 5,853,545 Loans receivable and other investments, net 107,374 113,722 Investment in unconsolidated joint venture 319,460 340,120 Cash and cash equivalents 39,097 50,230 Restricted cash 10,046 9,428 Lease intangible assets, net 101,509 131,097 Accounts receivable, prepaid expenses and other assets, net 150,443 167,161 Total assets $ 6,069,299 $ 6,665,303 Liabilities Secured debt, net $ 113,070 $ 115,679 Revolving credit facility — 624,000 Term loans, net 1,040,258 1,184,930 Senior unsecured notes, net 1,248,773 1,307,394 Accounts payable and accrued liabilities 108,792 94,827 Lease intangible liabilities, net 69,946 83,726 Total liabilities 2,580,839 3,410,556 Equity Preferred stock, $.01 par value; 10,000,000 shares authorized, zero shares issued and outstanding as of December 31, 2019 and 2018 — — Common stock, $.01 par value; 250,000,000 shares authorized, 205,208,018 and 178,306,528 shares issued and outstanding as of December 31, 2019 and 2018, respectively 2,052 1,783 Additional paid-in capital 4,072,079 3,507,925 Cumulative distributions in excess of net income (573,283) (271,595) Accumulated other comprehensive (loss) income (12,388) 12,301 Total Sabra Health Care REIT, Inc. stockholders’ equity 3,488,460 3,250,414 Noncontrolling interests — 4,333 Total equity 3,488,460 3,254,747 Total liabilities and equity $ 6,069,299 $ 6,665,303 28 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

FINANCIAL INFORMATION Consolidated Financial Statements Consolidated Statements of Cash Flows Dollars in thousands Year Ended December 31, 2019 2018 Cash flows from operating activities: Net income $ 69,018 $ 279,115 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 181,549 191,379 Non-cash rental and related revenues (19,449) (36,443) Non-cash interest income (2,212) (2,300) Non-cash interest expense 10,080 10,137 Stock-based compensation expense 9,819 7,648 Non-cash lease termination income (10,579) — Loss on extinguishment of debt 16,340 2,917 Provision for doubtful accounts, straight-line rental income and loan losses 1,238 39,075 Net gain on sales of real estate (2,300) (128,198) Impairment of real estate 121,819 1,413 Loss from unconsolidated joint venture 6,796 5,431 Distributions of earnings from unconsolidated joint venture 13,865 8,910 Changes in operating assets and liabilities: Accounts receivable, prepaid expenses and other assets, net (9,639) (6,753) Accounts payable and accrued liabilities (13,870) (11,745) Net cash provided by operating activities 372,475 360,586 Cash flows from investing activities: Acquisition of real estate (51,136) (261,511) Origination and fundings of loans receivable (13,065) (50,731) Origination and fundings of preferred equity investments — (5,313) Additions to real estate (25,451) (27,697) Repayments of loans receivable 18,367 51,789 Repayments of preferred equity investments 5,079 6,870 Investment in unconsolidated joint venture — (354,461) Net proceeds from sales of real estate 329,050 382,560 Net cash provided by (used in) investing activities 262,844 (258,494) Cash flows from financing activities: Net repayments of revolving credit facility (624,000) (17,000) Proceeds from issuance of senior unsecured notes 638,779 — Principal payments on senior unsecured notes (700,000) — Principal payments on term loans (145,000) — Principal payments on secured debt (3,436) (140,338) Payments of deferred financing costs (15,598) (352) Payments related to extinguishment of debt (10,502) (2,043) Distributions to noncontrolling interests (316) (142) Preferred stock redemption — (143,750) Issuance of common stock, net 549,328 (499) Dividends paid on common and preferred stock (335,435) (325,220) Net cash used in financing activities (646,180) (629,344) Net decrease in cash, cash equivalents and restricted cash (10,861) (527,252) Effect of foreign currency translation on cash, cash equivalents and restricted cash 346 (539) Cash, cash equivalents and restricted cash, beginning of period 59,658 587,449 Cash, cash equivalents and restricted cash, end of period $ 49,143 $ 59,658 29 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

FINANCIAL INFORMATION Consolidated Financial Statements Consolidated Statements of Cash Flows (Continued) Dollars in thousands Year Ended December 31, 2019 2018 Supplemental disclosure of cash flow information: Interest paid $ 123,854 $ 137,668 Income taxes paid $ 3,911 $ 1,800 30 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

FINANCIAL INFORMATION FFO, Normalized FFO, AFFO and Normalized AFFO FFO, Normalized FFO, AFFO and Normalized AFFO Three Months Ended December 31, Year Ended December 31, 2019 2018 2019 2018 Net income (loss) attributable to common stockholders $ 39,741 $ (19,394) $ 68,996 $ 269,314 Add: Depreciation and amortization of real estate assets 44,032 48,078 181,549 191,379 Depreciation and amortization of real estate assets related to noncontrolling interests — (40) (93) (159) Depreciation and amortization of real estate assets related to unconsolidated joint venture 5,547 5,324 21,649 21,253 Net (gain) loss on sales of real estate (1,084) 14,247 (2,300) (128,198) Net loss on sales of real estate related to unconsolidated joint venture — — 1,690 — Impairment of real estate 2,717 — 121,819 1,413 FFO attributable to common stockholders $ 90,953 $ 48,215 $ 393,310 $ 355,002 Lease termination income (854) — (67,802) — Loss on extinguishment of debt 5,577 2,917 16,340 2,917 (Recovery of) provision for doubtful accounts and loan losses, net (219) 28,848 1,238 30,243 Other normalizing items (1) 115 10,263 12,656 21,385 Normalized FFO attributable to common stockholders $ 95,572 $ 90,243 $ 355,742 $ 409,547 FFO attributable to common stockholders $ 90,953 $ 48,215 $ 393,310 $ 355,002 Merger and acquisition costs 232 43 424 636 Stock-based compensation expense 990 1,373 9,819 7,648 Non-cash rental and related revenues (6,484) (6,232) (19,449) (36,443) Non-cash interest income (532) (578) (2,212) (2,300) Non-cash interest expense 2,234 2,589 10,080 10,137 Non-cash portion of loss on extinguishment of debt 1,972 874 5,838 874 (Recovery of) provision for doubtful straight-line rental income, loan losses and other reserves (219) 29,513 1,238 40,806 Non-cash lease termination income (854) — (10,579) — Other non-cash adjustments related to unconsolidated joint venture 1,212 1,520 4,135 2,652 Other non-cash adjustments 76 (30) 171 25 AFFO attributable to common stockholders $ 89,580 $ 77,287 $ 392,775 $ 379,037 Cash portion of lease termination income — — (57,223) — Cash portion of loss on extinguishment of debt 3,605 2,043 10,502 2,043 Recovery of doubtful cash income — (508) — (2,668) Other normalizing items (1) (10) 5,002 5,056 9,374 Normalized AFFO attributable to common stockholders $ 93,175 $ 83,824 $ 351,110 $ 387,786 Amounts per diluted common share attributable to common stockholders: Net income (loss) $ 0.20 $ (0.11) $ 0.37 $ 1.51 FFO $ 0.46 $ 0.27 $ 2.09 $ 1.99 Normalized FFO $ 0.48 $ 0.50 $ 1.89 $ 2.29 AFFO $ 0.45 $ 0.43 $ 2.08 $ 2.11 Normalized AFFO $ 0.47 $ 0.47 $ 1.86 $ 2.16 Weighted average number of common shares outstanding, diluted: Net income (loss) 199,048,481 178,314,638 188,127,092 178,721,744 FFO and Normalized FFO 199,048,481 178,932,966 188,127,092 178,721,744 AFFO and Normalized AFFO 199,496,049 179,394,677 188,775,872 179,338,881 (1) For FFO and AFFO, the three months and year ended December 31, 2019 include a $1.7 million settlement payment received related to a legacy CCP investment, and $0.6 million and $1.6 million, respectively, of incremental interest expense related to the redemption of the 2021 Notes and 2023 Notes. For AFFO, the year ended December 31, 2019 includes $1.4 million of write-offs related to straight-line rent receivables and $5.9 million of write-offs related to above/below market rent intangibles. For FFO, the three months and year ended December 31, 2018 include $5.2 million and $11.5 million, respectively, of acceleration of above market lease intangible amortization. For FFO and AFFO, the year ended December 31, 2018 also includes $5.5 million of capitalized issuance costs written off as a result of the preferred stock redemption and $3.2 million earned during the period related to a legacy CCP investment. In addition, other normalizing items for FFO include un-reimbursed triple-net operating expenses and CCP merger and transition costs, and other normalizing items for AFFO include un-reimbursed triple-net operating expenses and CCP transition costs. 31 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

FINANCIAL INFORMATION Components of Net Asset Value (NAV) We disclose components of our business relevant to calculate NAV. We consider NAV to be a useful supplemental measure that assists both management and investors to estimate the fair value of our Company. The calculation of NAV involves significant estimates and can be calculated using various methods. Each individual investor must determine the specific methodology, assumptions and estimates to use to arrive at an estimated NAV of the Company. The components of NAV do not consider potential changes in our investment portfolio. The components include non-GAAP financial measures, such as Cash NOI. Although these measures are not presented in accordance with GAAP, investors can use these non-GAAP financial measures as supplemental information to evaluate our business. Annualized Cash NOI Dollars in thousands Skilled Nursing/Transitional Care $ 321,477 Senior Housing - Leased 51,312 Senior Housing - Managed — Wholly-Owned 50,549 Senior Housing - Managed — Sabra's share of unconsolidated joint venture 40,355 Specialty Hospitals and Other 51,733 Annualized Cash NOI (Excluding Loans Receivable and Other Investments) $ 515,426 Obligations Dollars in thousands Secured debt (1) $ 114,777 Unsecured senior notes (1) 1,250,000 Term loans (1) 1,051,025 Sabra’s share of unconsolidated JV debt (2) 378,655 Total Debt 2,794,457 Add (less): Cash and cash equivalents and restricted cash (49,143) Sabra’s share of unconsolidated JV cash and cash equivalents and restricted cash (3) (11,415) Accounts payable and accrued liabilities (4) 98,352 Net obligations $ 2,832,251 Other Assets Dollars in thousands Loans receivable and other investments, net $ 107,374 Accounts receivable, prepaid expenses and other assets, net (4) 39,495 Total other assets $ 146,869 Common Shares Outstanding Total shares 205,208,018 (1) Amounts represent principal amounts due and exclude deferred financing costs, net and premiums/discounts, net. (2) Represents Sabra’s 49% share of unconsolidated Enlivant joint venture’s debt. (3) Represents Sabra’s 49% share of unconsolidated Enlivant joint venture’s cash and cash equivalents and restricted cash. (4) Includes balances that impact cash or NOI and excludes non-cash items. 32 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

APPENDIX Disclaimer Disclaimer This supplement contains “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified, without limitation, by the use of “expects,” “believes,” “intends,” “should” or comparable terms or the negative thereof. Examples of forward- looking statements include all statements regarding our expected future financial position, results of operations, cash flows, liquidity, business strategy, growth opportunities, potential investments, and plans and objectives for future operations. Our actual results may differ materially from those projected or contemplated by our forward-looking statements as a result of various factors, including among others, the following: our dependence on the operating success of our tenants; the potential variability of our reported rental and related revenues following the adoption of Accounting Standards Update (“ASU”) 2016-02, Leases, as amended by subsequent ASUs (“Topic 842”) on January 1, 2019; operational risks with respect to our Senior Housing - Managed communities; the effect of our tenants declaring bankruptcy or becoming insolvent; our ability to find replacement tenants and the impact of unforeseen costs in acquiring new properties; the impact of litigation and rising insurance costs on the business of our tenants; the possibility that Sabra may not acquire the remaining majority interest in the Enlivant joint venture; risks associated with our investments in joint ventures; changes in healthcare regulation and political or economic conditions; the impact of required regulatory approvals of transfers of healthcare properties; competitive conditions in our industry; our concentration in the healthcare property sector, particularly in skilled nursing/transitional care facilities and senior housing communities, which makes our profitability more vulnerable to a downturn in a specific sector than if we were investing in multiple industries; the significant amount of and our ability to service our indebtedness; covenants in our debt agreements that may restrict our ability to pay dividends, make investments, incur additional indebtedness and refinance indebtedness on favorable terms; increases in market interest rates; the potential phasing out of the London Interbank Offered Rate (“LIBOR”) benchmark after 2021; our ability to raise capital through equity and debt financings; changes in foreign currency exchange rates; the relatively illiquid nature of real estate investments; the loss of key management personnel; uninsured or underinsured losses affecting our properties and the possibility of environmental compliance costs and liabilities; the impact of a failure or security breach of information technology in our operations; our ability to maintain our status as a real estate investment trust (“REIT”) under the federal tax laws; changes in tax laws and regulations affecting REITs (including the potential effects of the Tax Cuts and Jobs Act); compliance with REIT requirements and certain tax and tax regulatory matters related to our status as a REIT; and the ownership limits and takeover defenses in our governing documents and under Maryland law, which may restrict change of control or business combination opportunities.  Additional information concerning risks and uncertainties that could affect our business can be found in our filings with the Securities and Exchange Commission (the “SEC”), including in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2019. We do not intend, and we undertake no obligation, to update any forward-looking information to reflect events or circumstances after the date of this supplement or to reflect the occurrence of unanticipated events, unless required by law to do so. Note Regarding Non-GAAP Financial Measures This supplement includes the following financial measures defined as non-GAAP financial measures by the SEC: net operating income (“NOI”), Cash NOI, funds from operations attributable to common stockholders (“FFO”), Normalized FFO, Adjusted FFO (“AFFO”), Normalized AFFO, FFO per diluted common share, Normalized FFO per diluted common share, AFFO per diluted common share, Normalized AFFO per diluted common share and Adjusted EBITDA (defined below). These measures may be different than non-GAAP financial measures used by other companies, and the presentation of these measures is not intended to be considered in isolation or as a substitute for financial information prepared and presented in accordance with U.S. generally accepted accounting principles. An explanation of these non-GAAP financial measures is included under “Reporting Definitions” in this supplement and reconciliations of these non-GAAP financial measures to the GAAP financial measures we consider most comparable are included on the Investors section of our website at http://www.sabrahealth.com/investors/financials/reports-presentations/non-gaap. Tenant and Borrower Information This supplement includes information regarding certain of our tenants that lease properties from us and our borrowers, most of which are not subject to SEC reporting requirements. The information related to our tenants and borrowers that is provided in this supplement has been provided by, or derived from information provided by, such tenants and borrowers. We have not independently verified this information. We have no reason to believe that such information is inaccurate in any material respect. We are providing this data for informational purposes only. Sabra Information The information in this supplemental information package should be read in conjunction with the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other information filed with the SEC. The Reporting Definitions and Reconciliations of Non-GAAP Measures are an integral part of the information presented herein. On Sabra’s website, www.sabrahealth.com, you can access, free of charge, Sabra's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and amendments to those reports file or furnished pursuant to Sections 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, as soon as reasonably practicable after such material is filed with, or furnished to, the SEC. The information contained on Sabra’s website is not incorporated by reference into, and should not be considered a part of, this supplemental information package. All material filed with the SEC can also be accessed through its website, www.sec.gov. For more information, contact Investor Relations at (888) 393-8248 or investorrelations@sabrahealth.com. 33 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

APPENDIX Reporting Definitions Adjusted EBITDA* Adjusted EBITDA is calculated as earnings before interest, taxes, depreciation and amortization (“EBITDA”) excluding the impact of merger-related costs, stock-based compensation expense under the Company's long-term equity award program, and loan loss reserves. Adjusted EBITDA is an important non- GAAP supplemental measure of operating performance. Annualized Cash Net Operating Income (“Annualized Cash NOI”)* The Company believes that net income attributable to common stockholders as defined by GAAP is the most appropriate earnings measure. The Company considers Annualized Cash NOI an important supplemental measure because it allows investors, analysts and its management to evaluate the operating performance of its investments. The Company defines Annualized Cash NOI as Annualized Revenues less operating expenses and non-cash revenues and expenses. Annualized Cash NOI excludes all other financial statement amounts included in net income. Annualized Revenues  The annual contractual rental revenues under leases and interest and other income generated by the Company’s loans receivable and other investments based on amounts invested and applicable terms as of the end of the period presented. Annualized Revenues do not include tenant recoveries or additional rents and are net of repositioning reserves, if applicable. Cash Net Operating Income (“Cash NOI”)*    The Company believes that net income attributable to common stockholders as defined by GAAP is the most appropriate earnings measure. The Company considers Cash NOI an important supplemental measure because it allows investors, analysts and its management to evaluate the operating performance of its investments. The Company defines Cash NOI as total revenues less operating expenses and non-cash revenues and expenses. Cash NOI excludes all other financial statement amounts included in net income. Consolidated Debt  The principal balances of the Company’s revolving credit facility, term loans, senior unsecured notes, and secured indebtedness as reported in the Company’s consolidated financial statements. Consolidated Debt, Net The carrying amount of the Company’s revolving credit facility, term loans, senior unsecured notes, and secured indebtedness, as reported in the Company’s consolidated financial statements. Consolidated Enterprise Value The Company believes Consolidated Enterprise Value is an important measurement as it is a measure of a company’s value. The Company calculates Consolidated Enterprise Value as market equity capitalization plus Consolidated Debt. Market equity capitalization is calculated as (i) the number of shares of common stock multiplied by the closing price of the Company’s common stock on the last day of the period presented plus (ii) the number of shares of preferred stock multiplied by the closing price of the Company’s preferred stock on the last day of the period presented. Consolidated Enterprise Value includes the Company’s market equity capitalization and Consolidated Debt, less cash and cash equivalents. EBITDARM  Earnings before interest, taxes, depreciation, amortization, rent and management fees (“EBITDARM”) for a particular facility accruing to the operator/tenant of the property (not the Company), for the period presented. The Company uses EBITDARM in determining EBITDARM Coverage. EBITDARM has limitations as an analytical tool. EBITDARM does not reflect historical cash expenditures or future cash requirements for facility capital expenditures or contractual commitments. In addition, EBITDARM does not represent a property’s net income or cash flows from operations and should not be considered an alternative to those indicators. The Company utilizes EBITDARM to evaluate the core operations of the properties by eliminating management fees, which may vary by operator/tenant and operating structure, and as a supplemental measure of the ability of the Company’s operators/tenants and relevant guarantors to generate sufficient liquidity to meet related obligations to the Company. EBITDARM Coverage  Represents the ratio of EBITDARM to cash rent for owned facilities (excluding Senior Housing - Managed communities) for the period presented. EBITDARM coverage is a supplemental measure of a property’s ability to generate cash flows for the operator/tenant (not the Company) to meet the operator’s/tenant’s related cash rent and other obligations to the Company. However, its usefulness is limited by, among other things, the same factors that limit the usefulness of EBITDARM. EBITDARM Coverage includes only Stabilized Facilities and excludes facilities for which data is not available or meaningful. 34 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

APPENDIX Reporting Definitions Funds From Operations Attributable to Common Stockholders (“FFO”) and Adjusted Funds from Operations Attributable to Common Stockholders (“AFFO”)*  The Company believes that net income attributable to common stockholders as defined by GAAP is the most appropriate earnings measure. The Company also believes that funds from operations attributable to common stockholders, or FFO, as defined in accordance with the definition used by the National Association of Real Estate Investment Trusts (“NAREIT”), and adjusted funds from operations attributable to common stockholders, or AFFO (and related per share amounts) are important non-GAAP supplemental measures of the Company’s operating performance. Because the historical cost accounting convention used for real estate assets requires straight-line depreciation (except on land), such accounting presentation implies that the value of real estate assets diminishes predictably over time. However, since real estate values have historically risen or fallen with market and other conditions, presentations of operating results for a real estate investment trust that uses historical cost accounting for depreciation could be less informative. Thus, NAREIT created FFO as a supplemental measure of operating performance for real estate investment trusts that excludes historical cost depreciation and amortization, among other items, from net income attributable to common stockholders, as defined by GAAP. FFO is defined as net income attributable to common stockholders, computed in accordance with GAAP, excluding gains or losses from real estate dispositions and the Company’s share of gains or losses from real estate dispositions related to its unconsolidated joint venture, plus real estate depreciation and amortization, net of amounts related to noncontrolling interests, plus the Company’s share of depreciation and amortization related to its unconsolidated joint venture, and real estate impairment charges. AFFO is defined as FFO excluding merger and acquisition costs, stock-based compensation expense, non-cash rental and related revenues, non- cash interest income, non-cash interest expense, change in fair value of contingent consideration, non-cash portion of loss on extinguishment of debt, provision for doubtful straight-line rental income, loan losses and other reserves, non-cash lease termination income and deferred income taxes, as well as other non-cash revenue and expense items (including ineffectiveness gain/loss on derivative instruments, and non-cash revenue and expense amounts related to noncontrolling interests) and the Company’s share of non-cash adjustments related to its unconsolidated joint venture. The Company believes that the use of FFO and AFFO (and the related per share amounts), combined with the required GAAP presentations, improves the understanding of the Company’s operating results among investors and makes comparisons of operating results among real estate investment trusts more meaningful. The Company considers FFO and AFFO to be useful measures for reviewing comparative operating and financial performance because, by excluding the applicable items listed above, FFO and AFFO can help investors compare the operating performance of the Company between periods or as compared to other companies. While FFO and AFFO are relevant and widely used measures of operating performance of real estate investment trusts, they do not represent cash flows from operations or net income attributable to common stockholders as defined by GAAP and should not be considered an alternative to those measures in evaluating the Company’s liquidity or operating performance. FFO and AFFO also do not consider the costs associated with capital expenditures related to the Company’s real estate assets nor do they purport to be indicative of cash available to fund the Company’s future cash requirements. Further, the Company’s computation of FFO and AFFO may not be comparable to FFO and AFFO reported by other real estate investment trusts that do not define FFO in accordance with the current NAREIT definition or that interpret the current NAREIT definition or define AFFO differently than the Company does. Investment Represents the carrying amount of real estate assets after adding back accumulated depreciation and amortization and excludes net intangible assets and liabilities. Investment also includes the Company’s pro rata share of the real estate assets held in the Company’s unconsolidated joint venture. Market Capitalization Total common shares of Sabra outstanding multiplied by the closing price per common share as of a given period. Net Operating Income (“NOI”)*   The Company believes that net income attributable to common stockholders as defined by GAAP is the most appropriate earnings measure. The Company considers NOI an important supplemental measure because it allows investors, analysts and its management to evaluate the operating performance of its investments. The Company defines NOI as total revenues less operating expenses. NOI excludes all other financial statement amounts included in net income. Normalized FFO and Normalized AFFO* Normalized FFO and Normalized AFFO represent FFO and AFFO, respectively, adjusted for certain income and expense items that the Company does not believe are indicative of its ongoing operating results. The Company considers Normalized FFO and Normalized AFFO to be useful measures to evaluate the Company’s operating results excluding these income and expense items to help investors compare the operating performance of the Company between periods or as compared to other companies. Normalized FFO and Normalized AFFO do not represent cash flows from operations or net income as defined by GAAP and should not be considered an alternative to those measures in evaluating the Company’s liquidity or operating performance. Normalized FFO and Normalized AFFO also do not consider the costs associated with capital expenditures related to the Company’s real estate assets nor do they purport to be indicative of cash available to fund the Company’s future cash requirements. Further, the Company’s computation of Normalized FFO and Normalized AFFO may not be comparable to Normalized FFO and Normalized AFFO reported by other real estate investment trusts that do not define FFO in accordance with the current NAREIT definition or that interpret the current NAREIT definition or define FFO and AFFO or Normalized FFO and Normalized AFFO differently than the Company does. Occupancy Percentage Occupancy Percentage represents the facilities’ average operating occupancy for the period indicated. The percentages are calculated by dividing the actual census from the period presented by the available beds/units for the same period. Occupancy includes only Stabilized Facilities and excludes facilities for which data is not available or meaningful. Occupancy Percentage for the Company’s unconsolidated joint venture is weighted to reflect the Company’s pro rata share. 35 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019

APPENDIX Reporting Definitions REVPOR REVPOR represents the average revenues generated per occupied room per month at Senior Housing - Managed communities for the period indicated. It is calculated as resident fees and services revenues divided by average monthly occupied room days. REVPOR includes only Stabilized Facilities. REVPOR for the Company’s unconsolidated joint venture is weighted to reflect the Company’s pro rata share. Senior Housing  Senior Housing communities include independent living, assisted living, continuing care retirement and memory care communities. Senior Housing - Managed Senior Housing communities operated by third-party property managers pursuant to property management agreements. Skilled Mix  Skilled Mix is defined as the total Medicare and non-Medicaid managed care patient revenue at Skilled Nursing/Transitional Care facilities divided by the total revenues at Skilled Nursing/Transitional Care facilities for the period indicated. Skilled Mix includes only Stabilized Facilities and excludes facilities for which data is not available or meaningful. Skilled Nursing/Transitional Care Skilled Nursing/Transitional Care facilities include skilled nursing, transitional care, multi-license designation and mental health facilities. Specialty Hospitals and Other Includes acute care, long-term acute care, rehabilitation and behavioral hospitals, facilities that provide residential services, which may include assistance with activities of daily living, and other facilities not classified as Skilled Nursing/Transitional Care or Senior Housing. Stabilized Facility At the time of acquisition, the Company classifies each facility as either stabilized or non-stabilized. In addition, the Company may classify a facility as non- stabilized after acquisition. Circumstances that could result in a facility being classified as non-stabilized include newly completed developments, facilities undergoing major renovations or additions, facilities being repositioned or transitioned to new operators, and significant transitions within the tenants’ business model. Such facilities will be reclassified to stabilized upon maintaining consistent occupancy (85% for Skilled Nursing/Transitional Care facilities and 90% for Senior Housing communities) but in no event beyond 24 months after the date of classification as non-stabilized. Stabilized Facilities exclude (i) facilities held for sale, (ii) strategic disposition candidates, (iii) facilities being sold pursuant to the Company’s CCP portfolio repositioning, (iv) facilities being transitioned to a new operator, (v) facilities being transitioned from being leased by the Company to being operated by the Company and (vi) facilities acquired during the three months preceding the period presented. Total Debt Consolidated Debt plus the Company’s pro rata share of the principal balances of the debt of the Company’s unconsolidated joint venture. Total Debt, Net Consolidated Debt, Net plus the Company’s pro rata share of the carrying amount of the debt of the Company’s unconsolidated joint venture. Total Enterprise Value Consolidated Enterprise Value plus the Company’s pro rata share of the principal balances of the debt of the Company’s unconsolidated joint venture. *Non-GAAP Financial Measures Reconciliations, definitions and important discussions regarding the usefulness and limitations of the Non-GAAP Financial Measures used in this supplement can be found at http://www.sabrahealth.com/investors/financials/reports-presentations/non-gaap. 36 SABRA 4Q 2019 SUPPLEMENTAL INFORMATION December 31, 2019