SCHEDULE 14A INFORMATION

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Securities Exchange Act of 1934
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*** Exercise Your Right to Vote ***
Important Notice Regarding the Availability of Proxy Materials for the
Stockholder Meeting to Be Held on April 26, 2018.

HCP, INC.

HCP, INC.
1920 MAIN STREET
SUITE 1200
IRVINE, CA 92614

Meeting Information
Meeting Type:	Annual Meeting
For holders as of:	March 7, 2018

Date: April 26, 2018           Time: 9:30 a.m. Pacific Time

Location:      The Westin South Coast Plaza
686 Anton Boulevard
Costa Mesa, CA 92626

You are receiving this communication because you hold shares in the company named above.

This is not a ballot. You cannot use this notice to vote these shares. This communication presents only an overview of the more complete proxy materials that are available to you on the Internet. You may view the proxy materials online at www.proxyvote.com, scan the QR Barcode on the reverse side, or easily request a paper copy (see reverse side).

We encourage you to access and review all of the important information contained in the proxy materials before voting.

See the reverse side of this notice to obtain proxy materials and voting instructions.

Before You Vote

How to Access the Proxy Materials

Proxy Materials Available to VIEW or RECEIVE:
NOTICE AND PROXY STATEMENT          2017 ANNUAL REPORT

How to View Online:Have the information that is printed in the box marked by the arrow ➔    XXXX XXXX XXXX XXXX    (located on the following page)and visit: www.proxyvote.com, or scan the QR Barcode below.

How to Request and Receive a PAPER or E-MAIL Copy:
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Please choose one of the following methods to make your request:

1) BY INTERNET:	www.proxyvote.com
2) BY TELEPHONE:	1-800-579-1639
3) BY E-MAIL*:	sendmaterial@proxyvote.com

*      If requesting materials by e-mail, please send a blank e-mail with the information that is printed in the box marked by the arrow ➔    XXXX XXXX XXXX XXXX    (located on the following page) in the subject line.

Requests, instructions and other inquiries sent to this e-mail address will NOT be forwarded to your investment advisor.
Please make the request as instructed above on or before April 12, 2018 to facilitate timely delivery.

How To Vote
Please Choose One of the Following Voting Methods VIEW MATERIALS & VOTE
SCAN TO

Vote In Person: Many stockholder meetings have attendance requirements including, but not limited to, the possession of an attendanceticket issued by the entity holding the meeting. Please check the meeting materials for any special requirements for meeting attendance.At the meeting, you will need to request a ballot to vote these shares.

Vote By Internet: Go to www.proxyvote.com or from a smart phone, scan the QR Barcode above. Have the information that is printedin the box marked by the arrow ➔    XXXX XXXX XXXX XXXX   (located on the following page) available and follow the instructions.

Vote By Mail: You can vote by mail by requesting a paper copy of the materials, which will include a proxy card.

Voting Items

The Board of Directors recommends you vote FOR proposals 1, 2 and 3:
1.	Election of Directors
	1a. Brian G. Cartwright
	1b. Christine N. Garvey
	1c. David B. Henry
	1d. Thomas M. Herzog
	1e. Peter L. Rhein
	1f. Joseph P. Sullivan

2.	Ratification of the appointment of Deloitte & Touche LLP as HCP's independent registered public accounting firm for the fiscal year ending December 31, 2018.
3.	Approval, on an advisory basis, of executive compensation.
NOTE: At their discretion, the named proxies are authorized to consider and vote upon such other business as may properly come before the meeting or any adjournments or postponements thereof.