AHR · American Healthcare REIT, Inc.

American Healthcare REIT, through its Operating Partnership American Healthcare REIT Holdings, LP, entered into the Second Amendment to its Second Amended and Restated Credit Agreement on April 1, 2026, significantly enhancing its liquidity profile. The key change expands the revolving credit facility from $600 million to $800 million, providing greater borrowing flexibility with potential incremental increases up to a total facility size of $1.85 billion, subject to lender approval and notice. This addresses prior capacity constraints while the term loan component remains steady at $550 million. Maturity extensions for the revolver to April 1, 2030—with two successive six-month options to 2031 upon fee payment—offer extended runway amid ongoing real estate operations. Interest pricing remains market-standard, tied to SOFR benchmarks plus an Applicable Rate determined by debt ratings or leverage ratios, with no prepayment penalties. The amendment also introduces new syndication agents like Fifth Third Bank and KeyBank, terminates Barclays as an exiting lender with full obligation settlement, and reallocates commitments among remaining lenders. Joining guarantors bolster credit support, ensuring subsidiary asset coverage meets thresholds. Financial covenants are comprehensive, focusing on leverage, coverage, net worth, and unencumbered metrics, typical for REIT unsecured facilities. This refinancing strengthens the balance sheet for healthcare real estate investments without immediate refinancing pressure on the near-term 2027 term loan maturity.