NORTHWEST HEALTHCARE PROPERTIES REAL ESTATE INVESTMENT TRUST ANNOUNCES SENIOR MANAGEMENT CHANGES

TORONTO, Oct. 23, 2023 /CNW/ - Northwest Healthcare Properties Real Estate Investment Trust (the "REIT" or "Northwest") (TSX: NWH.UN), is pleased to announce the appointment of Craig Mitchell, as permanent Chief Executive Officer ("CEO") effective today and Karen Martin as Interim Chief Financial Officer ("CFO") effective October 30, 2023.

Chief Executive Officer

Craig Mitchell has been appointed as permanent CEO of the REIT, effective today.

Craig was previously appointed the REIT's Interim CEO on August 8, 2023, and has held several senior leadership positions with the organization since 2018, including President of the Northwest Group and CEO of Australia and New Zealand.

Prior to Craig's appointment as Interim CEO of the REIT, Craig was responsible for Northwest's global funds management, providing strategic direction as part of the REIT's global leadership team, and led overall accountability for the Australian and New Zealand region.

Craig has more than 20 years of experience specializing in the property industry in Australia, including his previous roles as Executive Director and Chief Operating Officer of Dexus, an ASX top 50 listed REIT. Craig has a Master of Business Administration (Executive) from the Australian Graduate School of Management, a Bachelor of Commerce and is a Fellow of CPA Australia. He has also completed the Advanced Management Program at Harvard University, Boston.

The decision to appoint Craig was made by the Board of Trustees of the REIT (the "Board"), following a process conducted by the Board's Compensation, Governance and Nominating Committee (the "CG&N"), which included an evaluation of Craig's performance as Interim CEO, and the receipt of the recommendation of the CG&N to the Board.

"We are extremely pleased to officially introduce Craig as our Chief Executive Officer," said Dale Klein, Non-Executive Chair of the Board. "Craig is the perfect fit for the role, given his deep understanding of the Company, our talented teams, and Northwest's position as a leader in our healthcare real estate markets. Since he was appointed Interim CEO in August 2023, Craig's steadfast leadership has stabilized our organization through taking several important steps towards strengthening our balance sheet and fostering strong relationships with many stakeholders. Craig has over 20 years of expertise across all of Northwest's global healthcare real estate markets, including prior experience as Chief Executive Officer and Chief Financial Officer roles in Australia and New Zealand, two of Northwest's largest and most dynamic healthcare markets. I am confident that Craig will do a tremendous job leading the REIT's executive functions, and we look forward to continued progress under his strong leadership."

Interim Chief Financial Officer

The REIT today also announces the appointment of Ms. Karen Martin as Interim Chief Financial Officer effective October 30, 2023.

Karen brings a wealth of financial expertise and a strong track record of success to the organization, making her the ideal candidate to support the REIT through its current strategic review period.

Karen's extensive experience in previous financial leadership roles includes serving as Executive Vice President and Treasurer at Element Fleet Management Corp. (formerly Element Financial Corporation), one of the world's largest publicly traded Fleet Management companies. During her tenure at Element, she played a pivotal role in engineering and implementing complex debt and capital structures and also led initiatives in balance sheet management, funding strategy, treasury operations, and acquisition financing.

Karen holds her CPA, CFA, and ICD.D designations, and she serves on the boards and advisory boards of various organizations, including ECN Capital Corp. (TSX:ECN) (member of the audit committee), and Propel Holdings (TSX: PRL) (chair of the audit committee).

"We are pleased to welcome Karen to Northwest as our Interim CFO," said Craig Mitchell, Northwest's Chief Executive Officer. "Karen brings a wealth of financial expertise and a fresh perspective to our team, and we look forward to her contributions during this important strategic review period. Her extensive background in the lending sector, financial management, and risk mitigation makes her an invaluable addition to Northwest."

Northwest would like to extend its gratitude to Shailen Chande, the outgoing CFO, for his contributions to the REIT during his tenure.

Northwest has commenced a recruitment process to select a permanent CFO.

About Northwest Healthcare Properties Real Estate Investment Trust

Northwest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (Northwest) is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT provides investors with access to a portfolio of high-quality international healthcare real estate infrastructure comprised as at June 30, 2023 of interests in a diversified portfolio of 231 income-producing properties and 18.5 million square feet of gross leasable area located throughout major markets in Canada, the United States, Brazil, Europe, Australia, and New Zealand. The REIT's portfolio of medical office buildings, clinics, and hospitals is characterized by long-term indexed leases and stable occupancies. With a fully integrated and aligned senior management team, the REIT leverages over 300 professionals in ten offices in eight countries to serve as a long-term real estate partner to leading healthcare operators. For more information please visit: www.nwhreit.com.

This press release contains forward-looking statements which reflect the REIT's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The REIT disclaims any obligation to update these forward-looking statements.

SOURCE NorthWest Healthcare Properties Real Estate Investment Trust

Craig Mitchell, CEO, [email protected]; Andrew Greig, Investor Relations, [email protected] or [email protected], [phone] Ext. 2202.