Murfreesboro, Tennessee, October 1, 2026 / PRNewswire / -- National Health Investors, Inc. ( NYSE : NHI ) Today, we announce that the company has invested $107.7 million (including transaction costs) to acquire 6 properties located in Kentucky, Michigan, and Tennessee, totaling 443 units. NHI expects to make an additional investment of $2.3 million within the first year.

These properties and related medical operations will be incorporated into the Senior Housing Operating Portfolio ("SHOP") business segment of NHI, and will be managed by Allegro Living Management. Allegro Living Management is an affiliated party of Allegro Living, while Allegro Living already has an existing cooperative relationship with NHI. The company expects that the initial NOI yield for these communities to be around 7.0%; after deducting regular capital expenditures, the yield is approximately 6.6%.

Investment Activities and Pipeline

• The company currently has approximately $164.3 million in investment opportunities for which letters of intent have been signed (“LOI”), with an additional $51.7 million coming from real estate purchase options. The company expects to use the proceeds from 1,031 exchange transactions initiated by the sale of the NHC portfolio to fund a significant portion of these opportunities. If completed, these exchanges are expected to defer the recognition of most of the taxable income generated from the sale of the NHC portfolio.
• In addition to the already signed LOI, the company is currently evaluating an investment pipeline worth approximately $285 million, which includes SHOP, after-sales leaseback agreements, and loans with purchase options, mainly targeting elderly housing properties. This pipeline does not include composite transactions.

Regarding National Health Investors, Inc.

National Health Investors, Inc. ( NYSE : NHI ) was established in 1991 and is a Maryland-registered independently managed real estate investment trust ( REIT ). The company owns, leases, operates, and finances the development of high-quality real estate, with a focus on senior housing communities and medical facilities. The company operates through two reportable business segments: real estate investment and SHOP. Its real estate investments include independent living facilities, assisted living facilities, entry-level fee communities, senior living villages, skilled nursing facilities, and hospitals. For more information, please visit www.nhireit.com.

Forward-looking Statements

This press release contains 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). Any statements regarding the company's future financial condition, operating results, cash flows, working capital ( FFO ), dividends and dividend plans, financing opportunities and plans, capital market transactions, business strategies, budgets, estimated costs, operating indicators, capital expenditures, competitive position, acquisitions, investment opportunities, asset dispositions, acquisition integrations, growth opportunities, expected rental income, continued compliance with REIT qualifications, management's plans and objectives for future operations, ongoing operational improvements, ability to repay and refinance debt, and ability to finance growth opportunities, as well as similar expressions (including those containing the words “ may”, “ will”, “ should”, “ believes”, “ anticipates”, “ expects”, “ intends”, “ estimates”, “ plans”, “ projects”, “ target”, “ likely”, etc.), are considered forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may result in significant differences between actual future results and those predicted or assumed in these forward-looking statements. These risks and uncertainties include those described under the “Risk Factors” heading in the company's annual report on Form 10-K for the year ending December 31, 2025, and the quarterly report on Form 10-Q for the period ending June 30, 2026. Many factors are beyond the control of the company and its management. Except as required by law, the company has no obligation to update any forward-looking statements, and these statements represent only the views as of the date they were made.Investors are advised to carefully review and consider the disclosures contained in the periodic reports submitted by the company to the U.S. Securities and Exchange Commission (“SEC”), including the risk factors and other information mentioned in the annual and quarterly reports. The relevant documents can be obtained for free at the SEC website https :// www.sec.gov or on the company's website www.nhireit.com.

Contact Person: Dana Hambly, Vice President of Investor Relations

Telephone: (615) 890-9100