ront any Investment Management Account, in accordance with any instructions as the Attorney MORGAN ACCOUNTS ONLY may give. but proceeds of any such Disposition will be tted iced only to an account of mine at Morgan over which I have signing authority; Page 2 of 4 Confidential Treatment Requested by JPMorg

es or other property from any Investment Management Account, in accordance with any instructions as the Attorney may give, but proceeds of any such Disposition will be credited only to an account of mine at Morgan over which I have signing authority; MUTUAL FUNDS I. To buy. exchange, reinvest or redeem sh

respect of such Portfolio Investment such Partner's unreturned Contributions in respect of any Portfolio Investment that has been the subject of a Disposition, if any; and (ii) Thereafter, 20% to the General Partner and 80% to the Partners in proportion to their respective Contributions in respect of su

espect of such Portfolio Investment L such Partner's unreturned Contributions in respect of any Portfolio Investment that has been the subject of a Disposition, if any; and (ii) Thereafter, 20% to the General Partner and 80% to the Partners in proportion to their respective Contributions in respect of su

or capital deployment. With our pro-forma net debt-to-EBITDA of roughly 5.0x we believe MPW has plenty of dry powder to make accretive investments Disposition update and plans to sell additional LTACHs (7% exposure as of last O's call) a Development pipeline update as $62MM of freestanding ER completions

es or other property from any Investment Management Account, In accordance with any instructions as the Attorney may give, but proceeds of any such Disposition will be credited arty to an account of mine at WMorgan over beech I have sgrang authority, Mutual Funds I. To buy. exchange, reinvest or redeem sh

ivy sands. saunas or the witldrawal, sac evichne. or other deco:room other propaty bon my lovestracm Management may give, bur proceeds of any cab Disposition which I have sigstr4 sunactsy, Actor, ta wait= with any insuucticos es the Aloncy wit be ereditod only to an accost of mine at Morgan over Page 2