Ventas Commits to Achieve Carbon Neutral Operations by 2040

Builds On Longstanding Actions Promoting Sustainability Across Operating Portfolio

Includes Operational Enhancements and Accelerated Actions to Achieve Carbon Reduction Targets

Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) today announced its commitment to achieve net-zero operational carbon emissions by 2040, building upon its longstanding actions and commitment to environmental stewardship. This new pledge exceeds the Company’s existing Science-Based Target initiative (SBTi) verified carbon reduction goal, adopted in 2021, to decrease absolute carbon emissions by 30% by 2030.

The Company’s strategy to achieve operational carbon neutrality includes three primary components, which will be implemented in the Office and Senior Housing Operating (“SHOP”) portfolios whose building emissions comprise the Company’s operational carbon footprint:

• Energy Efficiency: Ventas has invested $60 million in energy efficiency upgrades since 2018 at a 15% return on investment. These investments have reduced energy intensity per square foot by more than 5% annually on a same-store basis from 2018 to 2020. Ventas expects to continue to invest in energy efficiency at a similar cadence going forward and commits to develop net-zero carbon-aligned energy efficiency goals by property type by 2025.
• Renewable Energy: Ventas commits to achieve 60% renewable energy procurement by 2030 and 100% by 2035. The Company will explore all viable options for renewable energy, including on-site generation, power purchase agreements and other green power purchase products.
• Electrification: Ventas commits to capital investment in deep decarbonization and electrification opportunities through the deployment of high-efficiency and/or electric HVAC systems, electric stoves and water heaters, and other technologies.

Any residual emissions that cannot be addressed through these actions will be abated by purchasing high-quality carbon offsets. Investments in efficiency, renewables and electrification will be prioritized over offsets to minimize the Company’s gross emissions.

"Ventas recognizes the imperative need to take significant actions toward decarbonization, and is dedicated to a well-conceived and rigorously executed approach to achieving operational net-zero carbon emissions,” said Debra A. Cafaro, Ventas Chairman and Chief Executive Officer. “Our net-zero goal continues our leadership in sustainability and builds on our track record of achievements and commitments to date, starting with our ongoing investments in energy efficiency and our SBTi-validated emissions reduction target. We believe that today’s commitment promotes the interests of our stakeholders and aligns with our values of health and safety for residents, tenants, care providers and patients.”

Cafaro continued, “We are proud of the strategy we developed to achieve this ambitious goal of net-zero operational emissions by 2040, and look forward to continued collaboration with our partners and suppliers to promote sustainability and deliver long-term superior results.”

The Ventas Sustainability team partners with leading Office and Senior Housing operators to implement energy efficiency measures, energy management best practices such as benchmarking, evaluate renewable energy opportunities and pursue LEED, IREM and other third-party green certifications for the Company’s assets. This collaborative approach helps lead the way in developing innovative and cost-effective solutions to reduce carbon emissions throughout its operating portfolio.

Ventas will continue innovating to meet its net-zero operational commitment for the future, building on its extensively recognized leadership in sustainability:

• Placed on CDP’s “A List,” which recognizes the top 2% of global companies scored
• Named an Energy Star Partner of the Year for energy management practices
• Ranked #1 listed healthcare REIT on GRESB since 2017
• Received Nareit Leader in the Light for Healthcare for the fifth consecutive year

To advance its sustainability goals while continuing to grow, Ventas has a comprehensive ESG assessment process integrated into due diligence for acquisitions, dispositions, developments and redevelopments and the selection of operators and partners. The Ventas ESG team evaluates each potential business opportunity against nine ESG categories, providing decision-makers with a comprehensive report to support the best long-term investment decisions.

About Ventas

Ventas Inc., an S&P 500 company, operates at the intersection of two large and dynamic industries – healthcare and real estate. Fueled by powerful demographic demand from growth in the aging population, Ventas owns a diversified portfolio of over 1,200 properties in the United States, Canada, and the United Kingdom. Ventas uses the power of its capital to unlock the value of senior living communities; life science, research & innovation properties; medical office & outpatient facilities, hospitals and other healthcare real estate. A globally-recognized real estate investment trust, Ventas follows a successful long-term strategy, proven over more than 20 years, built on diversification of property types, capital sources and industry leading partners, financial strength and flexibility, consistent and reliable growth and industry leading ESG achievements, managed by a collaborative and experienced team dedicated to its stakeholders.

Cautionary Statements

This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, statements of expectations, beliefs, future plans and strategies, anticipated results from operations and developments and other matters that are not historical facts. Forward-looking statements include, among other things, statements regarding our and our officers’ intent, belief or expectation as identified by the use of words such as “may,” “will,” “project,” “expect,” “believe,” “intend,” “anticipate,” “seek,” “target,” “forecast,” “plan,” “potential,” “opportunity,” “estimate,” “could,” “would,” “should” and other comparable and derivative terms or the negatives thereof.

Forward-looking statements are based on management’s beliefs as well as on a number of assumptions concerning future events. You should not put undue reliance on these forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied by the forward-looking statements. We do not undertake a duty to update these forward-looking statements, which speak only as of the date on which they are made. You are urged to carefully review the disclosures we make concerning risks and uncertainties that may affect our business and future financial performance in our filings with the Securities and Exchange Commission (“SEC”), including those made in the “Summary Risk Factors” section, “Risk Factors” section and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section of our most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q.

Certain factors that could affect our future results and our ability to achieve our stated goals include, but are not limited to: (a) the impact of the ongoing COVID-19 pandemic and its extended consequences, including of the Delta, Omicron or any other variant, on our revenue, level of profitability, liquidity and overall risk exposure and the implementation and impact of regulations related to the CARES Act and other stimulus legislation and any future COVID-19 relief measures; (b) our ability to achieve the anticipated benefits and synergies from, and effectively integrate, our acquisitions and investments, including our acquisition of New Senior Investment Group Inc.; (c) our exposure and the exposure of our tenants, managers and borrowers to complex healthcare and other regulation and the challenges and expense associated with complying with such regulation; (d) the potential for significant general and commercial claims, legal actions, regulatory proceedings or enforcement actions that could subject us or our tenants, managers or borrowers to increased operating costs and uninsured liabilities; (e) the impact of market and general economic conditions, including economic and financial market events, inflation, change in interest rates, supply chain pressures, events that affect consumer confidence, our occupancy rates and resident fee revenues, and the actual and perceived state of the real estate markets, labor markets and public capital markets; (f) our ability, and the ability of our tenants, managers and borrowers, to navigate the trends impacting our or their businesses and the industries in which we or they operate; (g) the risk of bankruptcy, insolvency or financial deterioration of our tenants, managers borrowers, and other obligors and our ability to foreclose successfully on the collateral securing our loans and other investments in the event of a borrower default; (h) our ability to identify and consummate future investments in or dispositions of healthcare assets and effectively manage our portfolio opportunities and our investments in co-investment vehicles, joint ventures and minority interests; (i) risks related to development, redevelopment and construction projects; (j) our ability to attract and retain talented employees; (k) the limitations and significant requirements imposed upon our business as a result of our status as a REIT and the adverse consequences (including the possible loss of our status as a REIT) that would result if we are not able to comply; (l) the risk of changes in healthcare law or regulation or in tax laws, guidance and interpretations, particularly as applied to REITs, that could adversely affect us or our tenants, managers or borrowers; (m) increases in our borrowing costs as a result of becoming more leveraged or as a result of changes in interest rates and phasing out of LIBOR rates; (n) our reliance on third parties to operate a majority of our assets and our limited control and influence over such operations and results; (o) our dependency on a limited number of tenants and managers for a significant portion of our revenues and operating income; (p) the adequacy of insurance coverage provided by our policies and policies maintained by our tenants, managers or other counterparties; (q) the occurrence of cyber incidents that could disrupt our operations, result in the loss of confidential information or damage our business relationships and reputation; (r) the impact of merger, acquisition and investment activity in the healthcare industry or otherwise affecting our tenants, managers or borrowers; and (s) the risk of catastrophic or extreme weather and other natural events and the physical effects of climate change.

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