Supplemental Operating and Financial Data December 31, 2015 (Unaudited) Hickory Park Greenfield, WI

Table of Contents Execution of Growth Strategy 4 Portfolio Overview 5 Real Estate Activities 6-10 Portfolio Metrics 11 Portfolio Diversification 12-15 Portfolio Maturity 16 Enterprise Value 17 Debt Maturity 18 Financial Data Summary 19-20 Consolidated Statements of Income 21 Consolidated Balance Sheets 22 Funds from Operations 23-24 Glossary 25-27 Forward-Looking Statements & Non-GAAP 28 Island Shores Neenah, WI

3 Wendy Simpson Chairman Boyd Hendrickson Lead Independent Director James Pieczynski Nominating & Corporate Governance Committee Chairman Devra Shapiro Audit Committee Chairman Timothy Triche, MD Compensation Committee Chairman Board of Directors Leadership Analyst Coverage Any opinions, estimates, or forecasts regarding LTC’s performance made by the analysts listed above do not represent the opinions, estimates, and forecasts of LTC or its management. BMO Capital Markets Corp . John Kim Canaccord Genuity .. Paul Morgan Crowell, Weedon, & Co. Doug Christopher J.J. B. Hilliard, W.L. Lyons, Inc. . John Roberts JMP Securities, LLC Peter Martin KeyBanc Capital Markets, Inc. .. Jordan Sadler Mitsubishi – MUFG Karin Ford Mizuho Securities USA Inc. . Rich Anderson RBC Capital Markets Corporation .. Mike Carroll Stifel, Nicolaus & Company, Inc. . Chad Vanacore Wells Fargo Securities, LLC .. Todd Stender Wendy Simpson Chairman, Chief Executive Officer and President Pam Kessler Executive Vice President, CFO and Secretary Clint Malin Executive Vice President and Chief Investment Officer Brent Chappell Senior Vice President, Investment and Portfolio Management Cece Chikhale Senior Vice President, Controller and Treasurer Mark Hemingway Vice President of Marketing Peter Lyew Vice President and Director of Taxes Doug Korey Senior Vice President of Business Development

4 Execution of Growth Strategy $1.1 Billion in Total Investments Underwritten since 2010 Millions $9 $68 $44 $12 $112 $94 $109 $245 $185 $25 $414 $16 $0 $50 $100 $150 $200 $250 $300 $350 $400 $450 2010 2011 2012 2013 2014 2015 YTD 2016 Development/Expansions/Renovations Total Investment

Includes contractual rental income and interest income from mortgage loans and excludes rental income from properties sold and interest income from loans that paid off during the twelve months ended December 31, 2015. Includes seven development projects consisting of five MC communities with a total of 320 units, a 108-unit independent living community and an 89-unit combination ALF and MC community. Includes one school, four parcels of land held-for-use, and one behavioral health care hospital. 5 Portfolio Overview (dollar amounts in thousands) Gross Real Property $1.2B Loans Receivable $0.2B Coldspring Transitional Care Center Coldspring, KY Harbour Assisted Living of Monroeville Monroeville, PA 84.5% 15.5% Type of Property Gross Investments Skilled Nursing 100 $ 726,865 51.2% $ 56,724 $ 20,777 57.5% Assisted Living 104 585,330 41.3% 48,768 1,199 37.1% Range of Care 7 43,907 3.1% 5,876 - 4.4% Under Development (2) - 41,608 2.9% - - - Other (3) 2 20,695 1.5% 1,311 - 1.0% Total 213 $ 1,418,405 100.0% $ 112,679 $21,976 100.0% Trailing Twelve Months Ended December 31, 2015 # of Properties % of Investments Rental Income (1) Interest Income (1) % of Revenues

Commitments may include capital improvement or development allowances for approved projects, incentive payments and contingent payments. See page 7 for Development activities. We purchased and equipped the property securing the mortgage loan of $10,600 for a total of $13,946 by exercising our right under this loan. Represents year-to-date mortgage GAAP interest income. Represents an origination of a $20,000, 30-year mortgage loan, funding $9,500 at closing and $5,500 subsequent to December 31, 2015. The $5,000 remaining commitment will be available for approved capital improvement projects. This loan bears interest at 9.41% for five years, escalating annually thereafter by 2.25%. 6 (dollar amounts in thousands) Real Estate Activities – Acquisitions & Loan Originations Acquisitions Loan Originations Loan Date # of Properties Property Type # Beds/Units Location Operator Origination 1/30/15 1 SNF 157 beds Grand Blanc, MI Prestige Healthcare 11,000 - 9,500 1,061 9.4% 6/29/15 15 SNF 2,058 beds Various cities in MI Prestige Healthcare 40,000 N/A 40,000 2,611 9.4% 10/30/15 2 SNF 273 beds Farmington & Howell, MI Prestige Healthcare 20,000 (2) N/A 9,500 196 9.4% 18 71,000 $ 59,000 $ 3,868 $ Stated Interest Rate 2015 YTD Revenue (1) Development Funding Funded to Date 2,488 beds # of Properties # Beds/Units Location Operator Date of Construction Initial Cash Yield Purchase Price 2015 2/6 1 UDP (2) 56 units Corpus Christi, TX Thrive Senior Living 2015-2016 8.75% 7,195 $ 7,918 $ 2/19 1 SNF 106 beds Slinger, WI Fundamental 2014 10.30% 13,946 (3) 1,054 2/20 1 UDP (2) 89 units Murrells Inlet, SC Thrive Senior Living 2015-2016 8.75% 2,490 16,408 5/26 1 UDP (2) 66 units Tinley Park, IL Anthem Memory Care 2015-2016 9.25% 702 11,185 5/29 1 UDP (2) 108 units Wichita, KS Oxford Senior Living 2015-2016 7.43% 624 13,876 8/17 10 ALF 891 units WI and IL Senior Lifestyle 1991-2009 6.50% 142,000 10,500 9/23 1 UDP (2) 66 units Murrieta, CA Anthem Memory Care 2015-2016 9.00% 2,022 10,585 9/30 1 MC 60 units Jacksonville, FL Clarity Pointe 2015 8.00% 14,250 2,300 10/19 1 UDP (2) 66 units Glenview, IL Anthem Memory Care 2015-2017 9.00% 2,800 11,969 10/28 1 OTH 118 beds Las Vegas, NV Fundamental 1990/1994 8.50% 9,250 3,000 11/30 2 SNF 254 beds Fort Worth & Weatherford, TX Senior Care Centers 1998/1996 8.25% 23,000 500 21 1,402 units/478 beds 218,279 $ 89,295 $ 2016 2/1 1 SNF 126 beds Mansfield, TX Fundamental 2015 8.50% 16,000 $ - $ Property Type Additional Commitment (1) Acquisition Date

7 Real Estate Activities - Development (dollar amounts in thousands) Development Rendering Wichita, KS Includes purchase of land and existing improvements, if applicable, and development commitment. Remaining Commitment is calculated as follows: “Investment Commitment” less “Total Project Basis” plus “Total Capitalized Interest/Other”. # of Projects Property Type # Beds/ Units 1Q16 2014 Burr Ridge, IL 1 MC 9.30% 66 units 12,248 $ 2,907 $ 201 $ 9,469 $ 2,980 $ 2Q16 2015 Corpus Christi, TX 1 MC 8.75% 56 units 13,524 2,000 300 10,966 2,858 2Q16 2015 Murrells Inlet, SC 1 ALF/MC 8.75% 89 units 16,535 1,269 138 6,047 10,626 3Q16 2015 Tinley Park, IL 1 MC 9.25% 66 units 11,887 2,247 57 4,689 7,255 4Q16 2015 Wichita, KS 1 ILF 7.43% 108 units 14,500 751 36 2,224 12,312 4Q16 2015 Murrieta, CA 1 MC 9.00% 66 units 12,606 1,950 39 4,723 7,922 6 451 units 81,300 $ 11,124 $ 771 $ 38,118 $ 43,953 $ 1Q17 2015 Glenview, IL 1 MC 9.00% 66 units 14,769 $ 3,461 $ 29 $ 3,490 $ 11,308 $ Total 7 8.75% 517 units 96,069 $ 14,585 $ 800 $ 41,608 $ 55,261 $ De Novo Development Total Capitalized Interest/Other Estimated Rent/Interest Inception Date Commitment Year Location Approximate Initial Cash Lease/Loan Yield Investment Commitment (1) 4Q15 Funding Remaining Commitment (2) Total Project Basis

Real Estate Activities – Expansions & Renovations Owned Estimated Rent/Interest Inception Date Commitment Year Project Type Location # of Projects Property Type Approximate Initial Cash Lease/Loan Yield # Beds/ Units Investment Commitment 4Q15 Funding Total Funded to Date Remaining Commitment - (1) 2015 Expansion Mesa, AZ 1 SNF 9.00% - $ 5,000 (1) $ 1,233 $ 1,240 $ 3,760 - (2) 2015 Renovation Las Vegas, NV 1 OTH 8.50% - 3,000 (2) - - 3,000 Total 2 - $ 8,000 $ 1,233 $ 1,240 $ 6,760 Loans Estimated Rent/Interest Inception Date Commitment Year Location Approximate Initial Cash Lease/Loan Yield Investment Commitment 4Q15 Funding Total Funded to Date Remaining Commitment Project Type # of Projects Property Type # Beds/ Units - (3) 2013 Renovation Various cities in MI 15 SNF 9.41% - $ 12,000 (3) $ 1,934 $ 8,969 $ 3,031 - (3) 2015 Expansion Richmond, MI 1 SNF 9.41% - 10,000 (3) 483 483 9,517 - (3) 2015 Expansion Rochester Hills, MI 1 SNF 9.41% - 10,000 (3) 144 144 9,856 - (4) 2015 Renovation Farmington & Howell, MI 2 SNF 9.41% - 5,000 (4) - - 5,000 Total 19 - $ 37,000 $ 2,561 $ 9,596 $ 27,404  (1) Rent increases upon each funding. (2) In 4Q15, in conjunction with the acquisition, we committed to fund capital improvements of up to $3,000. Rent increases at each six month anniversary on amounts funded during that period. (3) Commitments are part of the total loan commitment secured by 15 properties in Michigan operated by Prestige Healthcare. Interest increases upon each funding. (4) In 4Q15, in conjunction with the loan origination, we committed to fund capital improvements of up to $5,000. Expansion Rendering Richmond, MI 8

Property was newly constructed and purchased on September 30, 2015 following issuance of licensure and certificate of occupancy. 9 Real Estate Activities – Joint Ventures and Lease-Up (dollar amounts in thousands) Joint Ventures We made a preferred equity investment in an unconsolidated joint venture. We have a fair-market value purchase option to acquire the properties owned by the joint venture beginning in 2018. Refer to the 10-K under Note 6. Investment in Unconsolidated Joint Ventures for more information. Currently, 5% is paid in cash and 10% is deferred. During the 3rd quarter, we stopped accruing the deferred portion of the preferred return and will recognize the deferred portion upon receipt. Represents a mezzanine loan for the development of a 99-unit ALF/MC/ILF with an initial interest rate of 10% escalating up to 15%. For accounting purposes, this loan is recorded as a joint venture. Lease-Up # of Projects Property Type # Beds/ Units 2015 Various cities in AZ 4 ALF/MC/ILF 15.00% (1) 585 units 25,650 $ 20,143 $ 5,507 $ 2015 Ocala, FL 1 UDP 15.00% (2) 99 units 2,900 2,900 - 684 units 28,550 $ 23,043 $ 5,507 $ Investment to Date Remaining Investment Commitment Commitment Year Location Return Investment Commitment Date Opened Occupancy at December 31, 2015 Commitment Year Project Type Location # of Projects Property Type Approximate Initial Cash Lease/ Loan Yield # Beds/Units Feb-14 66% 2012 Redevelopment Slinger, WI 1 SNF 10.08% 106 beds 13,946 $ Nov-14 72% 2012 Development Cold Spring, KY 1 SNF 8.50% 143 beds 22,734 Dec-14 80% 2013 Development Aurora, CO 1 MC 9.25% 48 units 9,216 Feb-15 63% 2013 Development Westminster, CO 1 MC 9.25% 60 units 10,703 Sep-15 22% 2015 Acquisition (1) Jacksonville, FL 1 MC 8.00% 60 units 14,250 5 168 units/249 beds 70,849 $ Total Funded/ Purchase Price

10 Real Estate Activities – Lease-Up History (dollar amounts in thousands) Willowbrook Place Littleton, CO 60-unit Memory Care Mustang Creek Estates Frisco, TX 80-unit Assisted Living/Memory Care Date Opened Aug 2014 Date Stabilized Dec 2015 # of Months to Stabilized Occupancy 16 Date Opened Oct 2014 Date Stabilized Dec 2015 # of Months to Stabilized Occupancy 14 Hillside Heights Rehabilitation Suites Amarillo, TX 120-bed Skilled Nursing Date Opened Jul 2013 Date Stabilized Aug 2013 # of Months to Stabilized Occupancy 1 Highline Place Littleton, CO 60-unit Memory Care Date Opened Jul 2013 Date Stabilized Sep 2013 # of Months to Stabilized Occupancy 2 The Oxford Grand Wichita, KS 77-unit Assisted Living/Memory Care Date Opened Oct 2013 Date Stabilized Sep 2014 # of Months to Stabilized Occupancy 11

Same Property Portfolio Statistics (1) 11 Portfolio Metrics Stabilized Property Portfolio (1) – TTM Ended September 30, 2015 Includes owned portfolio and a mortgage loan secured by 15 skilled nursing centers in Michigan. Medicaid Medicare Private Pay 30.9% 17.6% 51.5% Total Portfolio Payor Source Medicaid Medicare Private Pay 47.1% 27.0% 25.9% SNF Portfolio Payor Source Owned Properties 3Q15 2Q15 3Q15 2Q15 3Q15 2Q15 Assisted Living 85.8% 86.1% 1.65 1.65 1.41 1.41 Skilled Nursing 79.5% 79.5% 2.27 2.35 1.65 1.72 Range of Care 85.8% 86.5% 1.75 1.74 1.28 1.27 (1) Information is for the trailing twelve months through September 30, 2015 and June 30, 2015 and is from property level operator financial statements which are unaudited and have not been independently verified by us. Occupancy Normalized EBITDAR Coverage Normalized EBITDARM Coverage

Skilled Nursing (100) Assisted Living (104) Other (2) Range of Care (7) Under Development (7) Land Held-For-Use (4) 12 LTC owns or holds mortgages on 213 properties, seven development projects, and four parcels of land held-for-use. Investments are in 30 states leased or mortgaged to 35 different operators. Portfolio Diversification - Geography High-Quality Portfolio Built for Long-Term Value CA WA ME 1 KY 5 NV WY MI IL AR LA WV ND NY 33 2 1 2 3 5 1 2 3 2 2 2 2 1 6 21 3 5 4 9 11 4 5 2 6 1 4 2 13 7 3 1 1 1 1 1 1 2 1 1 OR AZ NM TX UT ID MT SD NE KS OK MS MN WI FL AL GA SC TN MO IA IN OH PA NJ NC VA CO 18 3 1 3 1 1 1 1 9 1 (as of December 31,2015) 1 1

Due to master leases with properties in multiple states, revenue by state is not available. The MSA rank by population as of July 1, 2014, as estimated by the United States Census Bureau. 13 Approximately 65% of our properties are in the Top 100 MSAs Gross Portfolio by MSA (2) (as of December 31,2015, dollar amounts in thousands) Portfolio Diversification - Geography 47.7% 17.2% 20.5% 10.4% 4.2% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% MSAs 1-31 MSAs 32-100 MSAs > 100 Cities in Micro-SA Cities not in MSA or Micro-SA Population 20.1M – 2.1M MSAs 1 - 31 Population 2.0M – 0.5M MSAs 32 - 100 Population 0.5M – 55K MSAs >100 Population 218K – 13K Cities in a Micro-SA Population less than 100K Cities not in MSA State (1) # of Props SNF % ALF % ROC % UDP % OTH % % Texas 55 212,996 $ 29.3% 43,803 $ 7.5% 2,994 $ 6.8% 10,966 $ 26.4% - $ - 270,759 $ 19.1% Michigan 18 193,959 26.7% - - - - - - 943 4.6% 194,902 13.7% Wisconsin 10 13,946 1.9% 111,734 19.1% - - - - - - 125,680 8.9% Colorado 16 6,038 0.8% 106,879 18.3% 2,007 4.6% - - - - 114,924 8.1% Ohio 13 54,000 7.4% 44,647 7.6% - - - - - - 98,647 7.0% Florida 14 35,362 4.9% 48,146 8.2% - - - - - - 83,508 5.9% New Jersey 5 - - 61,397 10.5% - - - - 9,270 44.8% 70,667 5.0% California 4 22,130 3.1% 28,070 4.8% - - 4,724 11.3% - - 54,924 3.9% New Mexico 7 50,913 7.0% - - - - - - - - 50,913 3.6% Illinois 1 - - 30,266 5.2% - - 17,647 42.4% - - 47,913 3.4% All Others 70 137,521 18.9% 110,388 18.8% 38,906 88.6% 8,271 19.9% 10,482 50.6% 305,568 21.4% Total 213 726,865 $ 100.0% 585,330 $ 100.0% 43,907 $ 100.0% 41,608 $ 100.0% 20,695 $ 100.0% 1,418,405 $ 100.0% Gross Investment

Includes annualized GAAP rent for leased properties and interest income from mortgage loans excluding rental income from properties sold and interest income from loans that paid off during the twelve months ended December 31, 2015. 14 Portfolio Diversification - Operators (as of December 31,2015, dollar amounts in thousands) Prestige Healthcare 14.1% Senior Lifestyle 13.3% Senior Care 10.8% Brookdale 10.6% Preferred Care 7.7% Carespring 5.2% Genesis 5.2% Traditions Sr Mgmt 4.8% Juniper 4.8% Fundamental 4.7% All Others 18.8% Annual Income By Operator Operators Annual Income (1) % Gross Investment % Prestige Healthcare 20 20,704 $ 14.1% 207,092 $ 14.6% Senior Lifestyle Corporation 27 19,468 13.3% 199,349 14.0% Senior Care Centers 11 15,756 10.8% 138,109 9.7% Brookdale Senior Living 37 15,574 10.6% 126,991 9.0% Preferred Care 30 11,323 7.7% 87,547 6.2% Carespring Health Care Management 3 7,635 5.2% 77,546 5.5% Genesis Healthcare 8 7,614 5.2% 54,864 3.9% Traditions Senior Management 5 7,066 4.8% 64,610 4.6% Juniper Communities 6 7,024 4.8% 86,744 6.1% Fundamental 6 6,795 4.7% 58,652 4.1% All Others 60 27,563 18.8% 316,901 22.3% 213 146,522 $ 100.0% 1,418,405 $ 100.0% # of Properties

15 Portfolio Diversification - Top Ten Operators Prestige Healthcare (privately held) provides skilled nursing, assisted living, and independent living services, and other rehabilitative and hea lthcare services at 68 facilities in seven states. As of December 31 , 2015, the LTC portfolio consisted of 18 skilled nursing centers and three parcels of land held - for - use in Michigan and two range of care communities in South Carolina with a gross investment balance of $ 207.1 million. Senior Lifestyle Corporation (privately held) manages 1 71 communities consisting of independent living, assisted living, memory care, skilled nursing and rehabilitative, affordable senior apartments, and short term stays in 27 states. As of December 31 , 2015 , the LTC portfolio consisted of 27 assisted living communities in nine states, with a gross investment balance of $ 199 .3 million. Senior Care Centers (privately held) provides skilled nursing care, memory care, assisted living, and independent living services in 108 facilities in Texas and Louisiana . As of December 31 , 2015, the LTC portfolio consisted of 11 skilled nursing centers in Texas with a gros s investment balance of $ 138.1 million. Brookdale Senior Living (NYSE: BKD) operates approximately 1,1 3 2 independent living, assisted living, and memory care communities and continuing care retirement centers, with the ability to serve approximately 11 0 ,000 residents. As of December 31 , 2015 , the LTC portfolio consisted of 37 assisted living communities in nine states with a gross investment balance of $12 7.0 million. Preferred Care (privately held) operates 108 facilities comprised of skilled nursing c enters , assisted living, and independent living communities , as well as five specialty care facilities, in 12 states. As of December 31 , 2015 , t he LTC portfolio consisted of 28 skilled nursing centers and two range of care communities in six states with a g ross investment balance of $8 7.5 million. Carespring Health Care Management (privately held) provides skilled nursing, assisted living, and independent living services, and other rehabilitative and hea lthcare services at 11 facilities in two states. As of December 31 , 2015 , the LTC portfolio consisted of three skilled nursing centers in two states with a gross investment balance of $7 7.5 mil lion . Genesis Healthcare ( NYSE: GEN ) provides skilled nursing and assisted/senior living services at more than 500 facilities in 34 states . Its subsidiaries also supply rehabilitation and respiratory therapy to more than 1,7 00 l ocations in 45 states and the District of Columbia . As of December 31 , 2015 , the LTC portfolio consisted of seven skilled nursing centers and one range of care community in three states, with a gross investment balance of $ 54.9 million. Traditions Senior Management (privately held) operate s 2 6 facilities consisting of skilled nursing centers , indep endent living a nd assisted living communities in five states. As of December 31 , 2015 , the LTC portfolio consisted of four skilled nursing centers and one range of care community in three states with a gross investment balance of $6 4.6 million. They also operate two skilled nursing centers under a sub - lease with Preferred Care, Inc. which is not included in the Traditions Senior Management annual income and gross investment . Juniper Communities (privately held) operates 18 facilities comprised of assisted living, memory care, independent living and skilled nursing communities in four states. As of December 31 , 2015 , the LTC portfolio consisted of six assisted living and memory care communities in three states with a gross investment balance of $8 6.7 million. Fundamental (privately held ) operates skilled nursing centers , assisted living communities , long term acute care hospitals, hospices, outpatient clinics, behavioral health centers and provides other healthcare services at 7 4 locations in nine states. As o f December 31 , 2015 , the LTC portfolio consisted of five skilled nursing centers and one behavioral health care hospital in four states, with a gross investment balance of $ 58.7 million .

Includes annualized GAAP rent for leased properties and interest income from mortgage loans excluding rental income from properties sold and interest income from loans that paid off during the twelve months ended December 31, 2015. (As a % of Total Annual Income(1)) 16 Portfolio Maturity (as of December 31,2015, dollar amounts in thousands) 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 2016 2017 2018 2019 2020 2021 2022 2023 Thereafter 0.4% 1.1% 6.5% 1.0% 9.3% 12.4% 0.5% 1.7% 52.0% 0.3% 0.6% 0.6% 0.3% 0.0% 0.0% 0.0% 0.0% 13.3% Leases Loans % of Total % of Total Annual Income (1) % of Total 2016 558 0.5% 406 1.8% 964 0.7% 2017 1,670 1.3% 807 3.7% 2,477 1.7% 2018 9,452 7.6% 918 4.2% 10,370 7.1% 2019 1,571 1.3% 374 1.7% 1,945 1.3% 2020 13,598 10.9% - - 13,598 9.3% 2021 18,132 14.6% - - 18,132 12.4% 2022 771 0.6% - - 771 0.5% 2023 2,539 2.0% - - 2,539 1.7% 76,255 61.2% 19,471 88.6% 95,726 65.3% Total 124,546 $ 100.0% 21,976 $ 100.0% 146,522 $ 100.0% Year Rental Income (1) Interest Income (1) Thereafter

During 4Q 2015, we exercised the $200,000 accordion feature of our $400,000 unsecured revolving line of credit increasing the commitments under the credit facility to $600,000. Subsequent to December 31, 2015, we borrowed an additional $32,000 under our unsecured revolving line of credit. Accordingly, we have $447,500 available for borrowing. Represents outstanding balance of $452,467, net of debt issue costs of $1,095. Rate includes amortization of debt issue cost. Closing price of our common stock as reported by the NYSE on December 31, 2015. See page 20 for reconciliation of annualized normalized EBITDA for the twelve months ended December 31, 2015. (amounts in thousands, except per share amounts and number of shares) 17 Enterprise Value Sunrise on the Scioto Upper Arlington, OH Common Stock 74% Total Debt 26% Capitalization Capitalization Bank borrowings - weighted average rate 1.9% (1) 120,500 $ Senior unsecured notes -weighted average rate 4.6% (2) 451,372 Total debt - weighted average rate 4.1% 571,872 26% 12/31/15 No. of shares Common stock (3) 37,548,111 43.14 $ (3) 1,619,826 74% 2,191,698 $ 100% Less: Cash and cash equivalents (12,942) 2,178,756 $ Debt to Enterprise Value 26.2% Debt to Annualized Normalized EBITDA (4) 4.3x Enterprise Value At December 31, 2015 Debt Equity Closing Price Total Market Value

During 4Q 2015, we exercised the $200,000 accordion feature of our $400,000 unsecured revolving line of credit increasing the commitments under the credit facility to $600,000. Subsequent to December 31, 2015, we borrowed an additional $32,000 under our unsecured revolving line of credit. Accordingly, we have $447,500 available for borrowing. The line matures on October 18, 2018 and provides for a one-year extension option. Reflects scheduled principal payments. 18 Debt Maturity (as of December 31,2015, dollar amounts in thousands) Unsecured Line 21% Senior Unsecured Notes 79% Debt Structure $- $200,000 $400,000 $600,000 2016 2017 2018 2019 2020 2021 2022 Thereafter $0 $0 $120,500 $0 $0 $0 $0 $0 $26,667 $31,167 $34,167 $32,666 $37,160 $37,160 $38,160 $215,320 Unsecured Line Senior Unsecured Notes $ - $ 26,667 $ 26,667 5% - 31,167 31,167 5% 120,500 34,167 154,667 27% - 32,666 32,666 6% - 37,160 37,160 6% - 37,160 37,160 6% - 38,160 38,160 7% - 215,320 215,320 38% $ 120,500 $ 452,467 $ 572,967 100% % of Total Year Unsecured Line of Credit (1) Senior Unsecured Notes (2) Total 2016 2017 2018 2019 2020 2021 Thereafter Total 2022

(dollar amounts in thousands) Represents outstanding balance of gross bank borrowings and senior unsecured notes, net of debt issue costs. Trailing twelve months for the periods presented. 19 Financial Data Summary Balance Sheet, Leverage Ratios and Coverage Ratios 4Q15 Annualized 12/31/15 12/31/14 12/31/13 12/31/12 Balance Sheet Gross real estate assets $1,418,405 $1,418,405 $1,117,167 $1,104,732 $940,176 Net real estate assets 1,164,950 1,164,950 892,179 884,361 740,846 Gross asset value 1,528,879 1,528,879 1,189,758 1,150,676 987,776 Total debt (1) 571,872 571,872 280,584 277,730 302,789 Total liabilities 616,222 616,222 304,649 297,867 325,338 Preferred stock - - 38,500 38,500 38,500 Total equity 659,202 659,202 660,121 632,438 463,108 Leverage Ratios Debt to gross asset value 37.4% 37.4% 23.6% 24.1% 30.7% Debt & preferred stock to gross asset value 37.4% 37.4% 26.8% 27.5% 34.6% Debt to total enterprise value 26.2% 26.2% 15.4% 18.0% 21.5% Debt & preferred stock to total enterprise value 26.2% 26.2% 17.5% 20.5% 24.2% Coverage Ratios (2) Debt to normalized EBITDA 4.3x 4.7x 2.6x 2.9x 3.6x Normalized EBITDA / interest incurred 5.7x 6.7x 7.3x 7.7x 8.3x Normalized EBITDA / fixed charges 5.7x 5.9x 6.0x 6.1x 6.2x

Financial Data Summary (dollar amounts in thousands) Reconciliation of Normalized EBITDA and Fixed Charges Trailing Twelve Months Ended Net income 4Q15 Annualized 12/31/15 12/31/14 12/31/13 12/31/12 $76,808 (1) $73,081 $73,399 $5 7,815 $51,327 Less: Gain on sale of real estate, net (586) (1) (586) (4,959) (1,605) (16) Add: Impairment on real estate for sale 2,250 (1) 2,250 (2) - - - Add: Interest expense 22,324 17,497 13,128 11,364 9,932 Add: Depreciation and amortization 33,240 29,431 25,529 24,706 22,153 Adjusted EBITDA 134,036 121,673 107,097 92,280 83,396 Add back/(deduct): Non-recurring one-time items - 937 (3) - 2,687 (4) (347) (5) Normalized EBITDA $134,036 $122,610 $107,097 $94,967 $83,049 Interest expense: $22,324 $17,497 $13,128 $11,364 $9,932 Add: Capitalized interest 1,384 827 1,506 932 129 Interest incurred 23,708 18,324 14,634 12,296 10,061 Interest incurred 23,708 18,324 14,634 12,296 10,061 Preferred stock dividend - 2,454 3,273 3,273 3,273 Fixed Charges $23,708 $20,778 $17,907 $15,569 $13,334 (1) Gain on sale and impairment charges are not annualized. (2) Subsequent to December 31, 2015, we entered into a contingent purchase and sale agreement to sell a 48-unit assisted living community in Florida for $1,750. Accordingly, we recorded an impairment charge of $2,250 to write the property down to its estimated sale price at December 31, 2015. (3) Represents a 1% provision for loan loss reserve related to additional loan proceeds funded under an existing mortgage loan and acquisition cost of $537 related to the recent 10-property senior housing portfolio acquisition. (4) Represents the one-time severance and accelerated restricted stock vesting charge of $707 related to the retirement of the Company’s former Senior Vice President, Marketing and Strategic Planning, a $1,244 provision for loan loss reserve on a $124,387 mortgage loan origination, and an $869 non-cash write-off of straight-line rent offset by revenue from the Sunwest bankruptcy settlement distribution of $133. (5) Represents revenue from the Sunwest bankruptcy settlement distribution. Non-Cash Revenue Components 4Q15 1Q16(1) 2Q16(1) 3Q16(1) 4Q16(1) Straight-line rent $3,076 $2,596 $2,154 $2,153 $1,649 Amort of lease inducement (517) (518) (518) (489) (432) Effective Interest 1,232 1,249 1,255 1,252 1,254 Net $3,791 $3,327 $2,891 $2,916 $2,471 (1) For leases and loans in place at December 31, 2015, assuming no renewals, modification or replacement, and no new investments are added to our portfolio, except for announced acquisitions, as previously discussed on page 6.

(amounts in thousands, except per share amounts) 21 Consolidated Statements of Income The Pavilion at Creekwood Mansfield, TX 2015 2014 2015 2014 Revenues Rental income 30,755 $ 26,474 $ 113,080 $ 101,849 $ Interest income from mortgage loans 6,342 4,108 22,119 16,553 Interest and other income 296 173 1,004 559 Total revenues 37,393 30,755 136,203 118,961 Expenses Interest expense 5,581 3,683 17,497 13,128 Depreciation and amortization 8,310 6,594 29,431 25,529 Impairment on real estate for sale 2,250 - 2,250 - Provision for doubtful accounts 156 (46) 619 32 Acquisition costs 50 130 614 152 General and administrative expenses 3,954 3,213 15,116 11,680 Total expenses 20,301 13,574 65,527 50,521 Operating Income 17,092 17,181 70,676 68,440 Income from unconsolidated joint ventures 276 - 1,819 - Gain on sale of real estate, net 586 3,819 586 4,959 Net Income 17,954 21,000 73,081 73,399 Income allocated to participating securities (114) (138) (484) (481) Income allocated to preferred stockholders - (819) (2,454) (3,273) Net income available to common stockholders 17,840 $ 20,043 $ 70,143 $ 69,645 $ Earnings per common share: Basic $0.49 $0.58 $1.97 $2.01 Diluted $0.48 $0.57 $1.94 $1.99 Weighted average shares used to calculate earnings per common share: Basic 36,433 34,678 35,590 34,617 Diluted 37,358 36,698 37,329 36,640 Dividends declared and paid per common share $0.54 $0.51 $2.07 $2.04 (unaudited) (audited) Three Months Ended Twelve Months Ended December 31, December 31,

(amounts in thousands, except per share) 22 Consolidated Balance Sheets (audited) (audited) (audited) (audited) ASSETS Investments: LIABILITIES Land 106,841 $ 80,024 $ Buildings and improvements 1,091,845 869,814 Bank borrowings 120,500 $ - $ Accumulated depreciation and amortization (251,265) (223,315) Senior unsecured notes, net of debt issue Real property investments, net 947,421 726,523 costs: 2015 - $1,095; 2014 - $1,049 451,372 280,584 Mortgage loans receivable, net of loan loss Accrued interest 3,974 3,556 reserves: 2015 - $2,190; 2014 - $1,673 217,529 165,656 Accrued incentives and earn-outs 12,722 3,258 Real estate investments, net 1,164,950 892,179 Accrued expenses and other liabilities 27,654 17,251 Investment in unconsolidated joint ventures 24,042 - Total liabilities 616,222 304,649 Investments, net 1,188,992 892,179 EQUITY Other assets: Stockholders' equity: Cash and cash equivalents 12,942 25,237 Preferred stock (1) - 38,500 Debt issue costs related to bank borrowing 2,865 2,733 Common stock (2) 375 355 Interest receivable 4,536 597 Capital in excess of par value 758,676 717,396 Straight-line rent receivable, net of allowance for Cumulative net income 928,328 855,247 doubtful accounts: 2015 - $833; 2014 - $731 42,685 32,651 Accumulated other comprehensive income 47 82 Prepaid expenses and other assets 21,443 9,931 Cumulative distributions (1,028,224) (951,459) Notes receivable 1,961 1,442 Total equity 659,202 660,121 Total assets 1,275,424 $ 964,770 $ Total liabilities and equity 1,275,424 $ 964,770 $ (1) Preferred stock $0.01 par value; 15,000 shares authorized; shares issued and outstanding: 2015 - 0; 2014 - 2,000 (2) Common stock $0.01 par value; 60,000 shares authorized; shares issued and outstanding: 2015 - 37,548; 2014 - 35,480 December 31, 2015 December 31, 2015 December 31, 2014 December 31, 2014

(unaudited, amounts in thousands, except per share amounts) 23 Funds from Operations Reconciliation of FFO, AFFO, and FAD Subsequent to December 31, 2015, we entered into a contingent purchase and sale agreement to sell a 48-unit assisted living community in Florida for $1,750. Accordingly, we recorded an impairment charge of $2,250 to write the property down to its estimated sale price at December 31, 2015. Represents a $400 provision for loan loss reserve related to additional loan proceeds funded under an existing mortgage loan and $537 of acquisition costs related to the 10-property senior housing portfolio acquisition. 2015 2014 2015 2014 GAAP net income available to common stockholders 17,840 $ 20,043 $ 70,143 $ 69,645 $ Add: Depreciation and amortization 8,310 6,594 29,431 25,529 Add: Impairment on real estate for sale 2,250 (1) - 2,250 - Less: Gain on sale of real estate, net (586) (3,819) (586) (4,959) NAREIT FFO available to common stockholders 27,814 22,818 101,238 90,215 Add: Non-recurring one-time items - - 937 (2) - Normalized FFO available to common stockholders 27,814 22,818 102,175 90,215 Less: Non-cash rental income (2,559) (792) (8,456) (2,161) (Less) add: Effective interest income from mortgage loans (1,232) (5) (3,912) 33 Less: Deferred income from unconsolidated joint ventures - - (1,000) - Normalized adjusted FFO (AFFO) 24,023 22,021 88,807 88,087 Add: Non-cash compensation charges 913 927 4,006 3,253 Add: Non-cash interest related to contingent liabilities 204 18 409 18 Less: Capitalized interest (346) (290) (827) (1,506) Normalized funds available for distribution (FAD) 24,794 $ 22,676 $ 92,395 $ 89,852 $ $0.74 $0.64 $2.77 $2.55 $0.74 $0.64 $2.80 $2.55 $0.64 $0.62 $2.44 $2.49 $0.66 $0.64 $2.54 $2.54 Diluted normalized FFO available to common stockholders per share Diluted normalized AFFO per share Diluted normalized FAD per share Twelve Months Ended December 31, December 31, Three Months Ended NAREIT Diluted FFO available available to common stockholders per share

(unaudited, amounts in thousands, except per share amounts) 24 Funds from Operations Reconciliation of FFO Per Share Juniper Village at Chatham Chatham, NJ Credit to Peter Rymwid Photography For the twelve months ended December 31, 2014 2014 2014 Normalized FFO/AFFO/FAD available to common stockholders 102,175 $ 90,215 $ 88,807 $ 88,087 $ 92,395 $ 89,852 $ Effect of dilutive securities: Participating securities 484 481 484 481 484 481 Series C cumulative preferred 2,454 3,273 2,454 3,273 2,454 3,273 Diluted normalized FFO/AFFO/FAD assuming conversion 105,113 $ 93,969 $ 91,745 $ 91,841 $ 95,333 $ 93,606 $ 35,590 34,617 35,590 34,617 35,590 34,617 Effect of dilutive securities: Stock options 13 23 13 23 13 23 Participating securities 234 226 234 226 234 226 Series C cumulative preferred 1,726 2,000 1,726 2,000 1,726 2,000 Shares for diluted normalized FFO/AFFO/FAD per share 37,563 36,866 37,563 36,866 37,563 36,866 2.80 $ 2.55 $ 2.44 $ 2.49 $ 2.54 $ 2.54 $ Diluted normalized FFO/AFFO/FAD per share 2015 FFO AFFO FAD 2015 2015 Shares for basic FFO/AFFO/FAD per share

25 Glossary Adjusted Funds From Operations (“AFFO”): FFO excluding the effects of straight - line rent , amortization of lease inducement , effective interest income and deferred income from unconsolidated joint ventures. Assisted Living Communities (“ALF”) : The ALF portfolio consists of assisted living, independent living, and/or memory care c ommunities . (See Independent Living and Memory Care) Assisted living communities are s enior housing properties serving elderly persons who require assistance with activities of daily living, but do not require the constant supervision skilled nursing centers provide. Services are usually available 24 hours a day and include personal supervision and a ssistance with eating , bathing, grooming and administering medication. The communities provide a combination of housing, supportive services, personalized assistance and health care designed to respond to individual needs . Contractual Lease Rent: Rental revenue as defined by the lease agreement between us and the operator for the lease year . EBITDA: Earnings before interest, taxes, depreciation and amortization . Funds Available for Distribution (“FAD”): A FFO excluding the effects of n on - cash compensation charges , capitalized interest and non - cash interest charges. Funds From Operations (“FFO”): A s defined by the National Association of Real Estate Investment Trusts (“NAREIT”), net income available to common stockholder s (computed in accordan ce with U.S. GAAP) excluding gains or losses on the sale of real estate and impairment write - downs of depreciable real estate plus real estate depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. GAAP Lease Yield: GAAP rent divided by the sum of the p urchase p rice and transaction costs. GAAP Rent: Total rent we will receive as a fixed amount over the initial term of the lease and recognize d evenly over that term . GAAP rent recorded in the early years of a lease is higher than the cash rent received and during the later years of the lease , the cash rent received is higher than GAAP rent recognized . GAAP rent is commonly referred to as straight - line rental income. Gross Asset Value: The carrying amount of total assets after adding back accumulated depreciation and loan loss reserves , as reported in the company’s consolidated financial statements . Gross Investment: Original price paid for an asset plus capital improvements funded by LTC , without any deprec i ation deductions. Gross Investment is commonly referred to as undepreciated book value. Independent Living Communities (“ILF”) : Senior housing properties offer ing a sense of community and numerous levels of service, such as laundry, housekeeping, dining options/meal plans, exercise and wellness programs, transportation , social , cultural and recreational activities , on - site security and emergency response programs. Many offer on - site conveniences like beauty/barber shops, fit ness facilities, game rooms, libraries and activity centers. ILFs are also known as retirement communities or senior apartments . Interest Income: Represents interest income from mortgage loans.

26 Glossary Licensed Beds/Units: The number of beds and/or units tha t an operator is authorized to operate at senior housing and long - term care propert ies . Licensed b eds and/or u nits may differ from the number of beds and/or units in service at any given time. Memory Care Communities (“MC”) : Senior housing properties offering specialized options for seniors with Alzheimer’s disease and other forms of dementia. These communities offer dedicated care and specialized programming for various conditions relating to memory loss in a secured environment that is typically smal ler in scale and more residential in nature than traditional assisted living communities . These communities have staff available 24 hours a day to respond to the unique needs of their residents. Metropolitan Statistical Areas ( “ MSA ” ) : Based on the U.S. Census Bureau, MSA is a geographic entity defined by the Office of Management and Budget (OMB) for use by Federal statistical agencies in collecting, tabulating, and publishing Federal statistics. A metro area contains a core urban area of 50,000 or m ore population. Micropolitan Statistical Areas ( “ Micro - SA ” ) : Based on the U.S. Census Bureau, Micro - SA is a geographic entity defined by the Office of Management and Budget (OMB) for use by Federal statistical agencies in collecting, tabulating, and publishing Federa l statistics. A micro area contains an urban core of at least 10,000 (but less than 50,000) population. Net Real Estate Assets: G ross real estate investment less accumulated depreciation. Net Real Estate Asset is commonly referred to as Net Book Value (“NBV”) . Non - cash Rental I ncome: Straight - line rental income and amortization of lease inducement. Non - cash C ompens ation C harges: Vesting expense relating to stock option s and restricted stock. Normalized AFFO: A FFO adjusted for non - recurring, infrequent or unusual items. Normalized EBITDAR Coverage: The trailing twelve month’s earnings from the operator financial statements adjusted for non - recurring, infrequent, or unusual items and before interest, taxes, depreciation, amortization, and rent divided by the operator’s contractual lease rent. Manag ement fees are imputed at 5% of revenues. Normalized EBITDARM Coverage: The trailing twelve month’s earnings from the operator financial statements adjusted for non - recurring, infrequent, or unusual items and before interest, taxes, depreciation, amortiz ation, rent, and management fees divided by the operator’s contractual lease rent. Normalized FAD: FAD adjusted for non - recurring, infrequent or unusual items . Normalized FFO: FFO adjusted for non - recurring, infrequent or unusual items. Occupancy: Th e weighted average percentage of all beds and/or units that are occupied at a given time. The calculation uses the trailing twelve months and is based on licensed beds and/or units which may differ from the number of beds and/or units in service at any gi ven time. Operator Financial Statements: Property level operator financial statements which are unaudited and have not been independently verified by us.

27 Glossary Glossary Payor Source : LTC revenue by operator underlying payor source for the period presented. LTC is not a Medicaid or a Medicare recipient. Statistics represent LTC's rental revenues times operators' underlying payor source revenue percentage. Underlying payor source revenue percentage is c alculated from property level operator fina ncial statements which are unaudited and have not been independently verified by us. Private Pay: Private pay includes private insurance, HMO, VA, and other payors . Purchase Price: Represents the fair value price of an asset that is exchanged in an orderly transaction between market participants at the measurement date. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets; it is not a forced transaction (for example, a forced liquidation or distress sale). Range of Care ( “ ROC ” ): Range of care communities consist of properties providing skilled nursing and any combination of assisted living, independent living and/or memory care services. Rental Income: Represents GAAP rent net of amortized lease inducement cost . Same Property Portfolio (“SPP”) : S ame property statistics allow for the comparative evaluation of performance across a consistent population of LTC’s leased property portfolio . Our SPP is comprised of s tabilized properties owned and operated throughout the duration of the quarter - over - quarter comparison periods presented (excluding assets sold and assets held - for - sale) . Accordingly, a leased property must be owned and stabilized for a mi nimum of 1 5 months if it is an acquired property, or 27 months if it is a development project, to be included in our SSP. School : An institution for educatin g students which include s a charter school . Charter schools provide an alternative to the traditional public school and are generally autonomous entities authorized by the state or locality to conduct operations independent from the surrounding public school district. Laws vary by s tate, but generally charters are granted by state boards of education either directly or in conjunction with local school districts or public universities. Operators are granted charters to establish and operate schools based on the goals and objectives s et forth in the charter. Upon receipt of a charter, schools receive an annuity from the state for each student enrolled. Skilled Nursing Centers (“SNF”) : Skilled nursing centers pr ovid e restorative, rehabilitative and nursing care for people not requiring the more extensive and sophisticated treatment available at acute care hospitals. Many SNF s provide ancillary services that include occupational, speech, physical, respiratory and IV therapies, as well as sub - acute care services which are paid either by the patient, the patient’s family, private health insurance, or through the federal Medicare or state Medicaid programs. Stabilized: Properties are generally considered sta bilized upon the earlier of achieving certain occupancy thresholds ( e.g. 80% for SNF s and 90% for ALF s ) and, as applicable, 12 months from the date of acquisition or, in the event of a de novo development, redevelopment , major renovations or addition, 24 months from the date the property is first placed in or returned to servi ce. Under Development Properties (“UDP”): Development project s to construct senior housing communities and/or skilled nursing centers .

This supplemental information 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, adopted pursuant to the Private Securities Litigation Reform Act of 1995. Statements that are not purely historical may be forward-looking. You can identify some of the forward-looking statements by their use of forward-looking words, such as ‘‘believes,’’ ‘‘expects,’’ ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘seeks,’’ ‘‘approximately,’’ ‘‘intends,’’ ‘‘plans,’’ ‘‘estimates’’ or ‘‘anticipates,’’ or the negative of those words or similar words. Forward- looking statements involve inherent risks and uncertainties regarding events, conditions and financial trends that may affect our future plans of operation, business strategy, results of operations and financial position. A number of important factors could cause actual results to differ materially from those included within or contemplated by such forward-looking statements, including, but not limited to, the status of the economy, the status of capital markets (including prevailing interest rates), and our access to capital; the income and returns available from investments in health care related real estate, the ability of our borrowers and lessees to meet their obligations to us, our reliance on a few major operators; competition faced by our borrowers and lessees within the health care industry, regulation of the health care industry by federal, state and local governments, changes in Medicare and Medicaid reimbursement amounts (including due to federal and state budget constraints), compliance with and changes to regulations and payment policies within the health care industry, debt that we may incur and changes in financing terms, our ability to continue to qualify as a real estate investment trust, the relative illiquidity of our real estate investments, potential limitations on our remedies when mortgage loans default, and risks and liabilities in connection with properties owned through limited liability companies and partnerships. For a discussion of these and other factors that could cause actual results to differ from those contemplated in the forward-looking statements, please see the discussion under ‘‘Risk Factors’’ and other information contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 and in our publicly available filings with the Securities and Exchange Commission. We do not undertake any responsibility to update or revise any of these factors or to announce publicly any revisions to forward-looking statements, whether as a result of new information, future events or otherwise. Non-GAAP Information This supplemental information contains certain non-GAAP information including EBITDA, normalized EBITDA, FFO, normalized FFO, normalized AFFO, normalized FAD, normalized interest coverage ratio, and normalized fixed charges coverage ratio. A reconciliation of this non-GAAP information is provided on pages 20, 23, and 24 of this supplemental information, and additional information is available under the “Non-GAAP Financial Measures” subsection under the “Selected Financial Data” section of our website at www.LTCreit.com. 28 Forward-Looking Statements Founded in 1992, LTC Properties, Inc. ("LTC") is a self-administered real estate investment trust that primarily invests in senior housing and long-term care properties through facility lease transactions, mortgage loans, and other investments. Our primary objectives are to create, sustain and enhance stockholder equity value and provide current income for distribution to stockholders through real estate investments in senior housing and long-term health care properties managed by experienced operators. Our primary senior housing and long-term health care property types include skilled nursing centers (or SNF), assisted living communities (or ALF), independent living communities (or ILF), memory care communities (or MC), and combinations thereof. To meet these objectives, we attempt to invest in properties that provide opportunity for additional value and current returns to our stockholders and diversify our investment portfolio by geographic location, operator, property type and form of investment. For more information on LTC, visit the Company’s website at www.LTCreit.com.