3 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 Wendy Simpson Chairman Boyd Hendrickson Lead 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 Mizuho Securities USA Inc. . Rich Anderson RBC Capital Markets Corporation .. Mike Carroll Stifel, Nicolaus & Company, Inc. . Dan Bernstein Wells Fargo Securities, LLC .. Todd Stender

Includes 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 June 30, 2015. Includes five development projects consisting of three MC properties with a total of 188 units, a 108-unit independent living property and an 89-unit combination ALF and MC property. Includes one school property and five parcels of land held-for-use. 4 Portfolio Overview (dollar amounts in thousands) Gross Real Property $989M Loans Receivable $206M Juniper Village at Chatham Chatham, NJ 82.8% 17.2% Type of Property Gross Investments Skilled Nursing 97 $ 692,135 57.9% $ 54,786 $ 15,632 58.8% Assisted Living 93 430,926 36.0% 41,151 1,191 35.3% Range of Care 7 43,907 3.7% 5,766 - 4.8% Under Development (2) - 17,404 1.5% - - - Other (3) 1 10,883 0.9% 1,303 - 1.1% Total 198 $ 1,195,255 100.0% $ 103,006 $16,823 100.0% Trailing Twelve Months Ended June 30, 2015 # of Properties % of Investments Rental Income (1) Interest Income (1) % of Revenues

See page 7 for Development activities. Purchased land to develop a memory care property for a total commitment of $12.2 million with an initial cash yield of 9.30%. The property was included in a master lease at an incremental initial cash yield of 6.5%, escalating in the first two years by 2.65% and 2.63% in the third year and each subsequent anniversary thereafter. The lease provides for contingent earn-out payments totaling up to $4,000 as a lease inducement. Purchased land and existing improvements to complete construction of a memory care property for a total commitment of $12.2 million with an initial cash yield of 8.75%. We also entered into a master lease which provides for our payment of a lease inducement of up to $1,589. Purchased and equipped the property for a total of $13,946 by exercising our right under a $10,600 mortgage loan. The property was added to an existing master lease at a lease rate of 10.3%, which was the interest rate in effect on the loan, and provided the lessee a lease inducement in an amount of $1,054. See page 6 for Lease-up activities. Purchased land to develop a combination assisted living and memory care property for a total commitment of $16.5 million with an initial cash yield of 8.75%. We added the land to the master lease discussed in (4) above and provided an additional lease inducement payment of up to $2,363. Purchased land to develop a memory care property for a total commitment of $11.9 million with an initial cash yield of 9.25%. Purchased land to develop an independent living property for a total commitment of $14.5 million with an initial cash yield of 7.43%. Represents year-to-date mortgage GAAP interest income. We expect mortgage GAAP interest income, assuming no loan modifications, to be $228 for 2015. Represents year-to-date mortgage GAAP interest income. We expect mortgage GAAP interest income, assuming no loan modifications, to be $1,061 for 2015. We funded additional loan proceeds of $40,000 under a mortgage loan secured by 15 SNF properties in Michigan. Represents year-to-date mortgage GAAP interest income. We expect mortgage GAAP interest income, assuming no loan modifications, to be $2,611 for 2015. 5 (dollar amounts in thousands) Real Estate Activities Acquisitions Loan Originations Acquisition Date # of Properties # Beds/Units Location Operator Date of Construction Purchase Price 10/22/2014 1 UDP (1)(2) 66 units Burr Ridge, IL Anthem Memory Care 2014-2016 1,400 $ 12/5/2014 1 MC (3) 48 units Castle Rock, CO Senior Lifestyle 2012 9,800 2 114 units 11,200 $ 2/6/2015 1 UDP (1)(4) 56 units Corpus Christi, TX Thrive Senior Living 2015 7,195 $ 2/19/2015 1 SNF (5) 106 beds Slinger, WI Fundamental 2014 13,946 2/20/2015 1 UDP (1)(6) 89 units Murrells Inlet, SC Thrive Senior Living 2015-2016 2,490 5/26/2015 1 UDP (1)(7) 66 units Tinley Park, IL Anthem Memory Care 2015-2016 702 5/29/2015 1 UDP (1)(8) 108 units Wichita, KS Oxford Senior Living 2015-2016 624 5 319 units/106 beds 24,957 $ Property Type Loan Date # of Properties Property Type # Beds/Units Location Operator Origination 7/31/14 1 ALF 100 units Phoenix, AZ Gray Health Care 3,027 $ N/A 3,027 $ 114 $ (1) 7.0% 1/30/15 1 SNF 157 beds Grand Blanc, MI Prestige Healthcare 11,000 - 9,500 485 (2) 9.4% 6/29/15 15 SNF 2,058 beds Various cities in MI Prestige Healthcare 40,000 (3) N/A 40,000 144 (4) 9.4% 17 54,027 $ 52,527 $ 743 $ Stated Interest Rate 2015 YTD Revenue Development Funding Funded to Date 100 units/2,215 beds

We purchased and equipped the property securing the mortgage loan for a total of $13,946 by exercising our right under this loan. 6 Real Estate Activities (dollar amounts in thousands) Joint Venture 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-Q under Note 3. Investment in Unconsolidated Joint Ventures for more information. Lease-Up in Frisco, TX Operated by Mustang Creek Management Lease-Up # of Projects Property Type # Beds/ Units 2015 Various cities in AZ 4 ALF/MC/ILF 15.00% 585 units 25,650 $ 20,143 $ 5,507 $ Investment to Date Remaining Investment Commitment Commitment Year Location Preferred Return Investment Commitment (1) Date Opened Occupancy at June 30, 2015 Commitment Year Project Type Location # of Projects Property Type Approximate Initial Cash Lease/ Loan Yield # Beds/Units Feb-14 70% 2012 Redevelopment Slinger, WI 1 SNF (1) 10.08% 106 beds 10,600 $ Aug-14 69% 2013 Development Littleton, CO 1 MC 9.25% 60 units 9,692 Nov-14 64% 2012 Development Cold Spring, KY 1 SNF 8.50% 143 beds 22,734 Dec-14 73% 2012 Development Frisco, TX 1 ALF/MC 9.25% 80 units 5,907 Dec-14 46% 2013 Development Aurora, CO 1 MC 9.25% 48 units 9,216 Feb-15 35% 2013 Development Westminster, CO 1 MC 9.25% 60 units 10,703 6 248 units/249 beds 68,852 $ Total Funded

Includes purchase of land and existing improvements, if applicable, and development commitment. Rent increases upon each funding. Commitment is part of the total loan commitment secured by 15 properties in Michigan operated by Prestige Healthcare. During 2015, we amended the loan to provide additional loan proceeds of $20.0 million for the expansion projects at two of the properties securing the loan. Interest increases upon each funding. 7 Real Estate Activities - Development (dollar amounts in thousands) Development Rendering in Corpus Christi, TX To be operated by Thrive Senior Living Project Type # of Projects Property Type # Beds/ Units - (2) 2015 Renovation Mesa, AZ 1 SNF 9.00% - 5,000 - - 5,000 - (3) 2013 Renovation Various cities in MI 15 SNF 9.41% - 12,000 (3) 1,260 6,455 5,545 - (3) 2015 Expansion Richmond, MI 1 SNF 9.41% - 10,000 (3) - - 10,000 - (3) 2015 Expansion Rochester Hills, MI 1 SNF 9.41% - 10,000 (3) - - 10,000 1Q16 2015 Development Corpus Christi, TX 1 MC 8.75% 56 units 12,182 222 7,446 4,736 19 56 units 49,182 $ 1,482 $ 13,901 $ 35,281 $ 1Q16 2014 Development Burr Ridge, IL 1 MC 9.30% 66 units 12,248 $ 1,579 $ 4,043 $ 8,205 $ 2Q16 2015 Development Murrells Inlet, SC 1 ALF/MC 8.75% 89 units 16,535 145 3,486 13,049 3Q16 2015 Development Tinley Park, IL 1 MC 9.25% 66 units 11,887 1,399 1,399 10,488 3Q16 2015 Development Wichita, KS 1 ILF 7.43% 108 units 14,500 773 773 13,727 4 329 units 55,170 $ 3,896 $ 9,701 $ 45,469 $ Total 23 WA 8.90% 385 units 104,352 $ 5,378 $ 23,602 $ 80,750 $ Estimated Rent/Interest Inception Date Commitment Year Location Approximate Initial Cash Lease/Loan Yield Investment Commitment (1) 2Q15 Funding Total Funded to Date Remaining Commitment

Same Property Portfolio Statistics (1) 8 Portfolio Metrics Stabilized Owned Property Portfolio – TTM Ended March 31, 2015 Medicaid Medicare Private Pay 0.0% 30.0% 60.0% 30.4% 18.0% 51.6% Total Portfolio Payor Source Medicaid Medicare Private Pay 0.0% 25.0% 50.0% 46.6% 27.9% 25.5% SNF Portfolio Payor Source Owned Properties 1Q15 4Q14 1Q15 4Q14 1Q15 4Q14 Assisted Living 86.0% 85.7% 1.65 1.62 1.41 1.39 Skilled Nursing 79.8% 79.8% 2.35 2.30 1.72 1.68 Range of Care 87.5% 87.6% 1.80 1.79 1.32 1.30 (1) Information is for the trailing twelve months through March 31, 2015 and December 31, 2014 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

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. 10 Over 64% of our properties are in the Top 100 MSAs Gross Portfolio by MSA (2) (dollar amounts in thousands) Portfolio Diversification - Geography 47.8% 16.7% 18.2% 12.4% 4.9% 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 State (1) # of Props SNF % ALF % ROC % UDP % OTH % Gross Investment % Texas 54 192,836 $ 27.9% 43,768 $ 10.2% 2,994 $ 6.8% 7,570 $ 43.5% - $ - 247,168 $ 20.7% Michigan 16 180,342 26.1% - - - - - - 1,613 14.8% 181,955 15.2% Colorado 16 6,038 0.9% 106,879 24.8% 2,007 4.6% - - - - 114,924 9.6% Ohio 13 54,000 7.8% 44,647 10.4% - - - - - - 98,647 8.2% Florida 13 35,362 5.1% 36,059 8.4% - - - - - - 71,421 6.0% New Jersey 5 - - 61,397 14.2% - - - - 9,270 85.2% 70,667 5.9% New Mexico 7 50,913 7.4% - - - - - - - - 50,913 4.3% California 4 22,130 3.2% 28,070 6.5% - - - - - - 50,200 4.2% Arizona 6 36,091 5.2% 3,224 0.7% - - - - - - 39,315 3.3% Kansas 8 14,111 2.0% 17,145 4.0% - - 775 4.5% - - 32,031 2.7% All Others 56 100,312 14.4% 89,737 20.8% 38,906 88.6% 9,059 52.0% - - 238,014 19.9% Total 198 692,135 $ 100.0% 430,926 $ 100.0% 43,907 $ 100.0% 17,404 $ 100.0% 10,883 $ 100.0% 1,195,255 $ 100.0%

Includes annualized GAAP rent for leased properties and interest income from mortgage loans excluding interest income from loans that paid off during the twelve months ended June 30, 2015. 11 Portfolio Diversification - Operators (dollar amounts in thousands) Brookdale 12.4% Prestige Healthcare 12.4% Senior Care 9.9% Preferred Care 9.1% Senior Lifestyle 6.8% Carespring 6.2% Genesis 6.1% Traditions Sr Mgmt 5.6% Juniper 5.6% Fundamental 4.7% All Others 21.2% Annual Income By Operator Operators Annual Income (1) % Gross Investment % Brookdale Senior Living 37 15,574 $ 12.4% 126,991 $ 10.6% Prestige Healthcare 18 15,474 12.4% 194,145 16.2% Senior Care Centers 9 12,336 9.9% 115,040 9.6% Preferred Care 30 11,338 9.1% 86,576 7.3% Senior Lifestyle Corporation 17 8,458 6.8% 57,349 4.8% Carespring Health Care Management 3 7,798 6.2% 77,546 6.5% Genesis Healthcare 8 7,614 6.1% 54,864 4.6% Traditions Senior Management 5 7,056 5.6% 63,402 5.3% Juniper Communities 6 7,033 5.6% 87,082 7.3% Fundamental 5 5,924 4.7% 49,378 4.1% All Others 60 26,541 21.2% 282,882 23.7% 198 125,146 $ 100.0% 1,195,255 $ 100.0% # of Properties

12 Top Ten Operators Brookdale Senior Living (NYSE: BKD) operates approximately 1,150 independent living, assisted living, and memory care communities and continuing care retirement centers, with the ability to serve approximately 11 1 ,000 residents. As of June 30, 2015 , the LTC portfolio consisted of 37 assisted living properties in nine states with a gross investment balance of $12 7.0 million. 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 state s. As of June 30, 2015 , the LTC portfolio consisted of 1 6 skilled nursing properties and five parcels of land held - for - use in Michigan and two range of care properties in South Carolina with a gross investment balance of $ 194.1 million. Senior Care Center s (privately held) provides skilled nursing care, memory care, assisted living, and i ndependent living services in 94 facilities exclusively in Texas. As of June 30, 2015 , the LTC portfolio consisted of nine skilled nursing properties in Texas with a gross investment balance of $ 115.0 million. Preferred Care (privately held) operates 108 facilities comprised of skilled nursing, assisted living, and independent living facilities, as well as five specialty care f acilities, in 12 states. As of June 30, 2 015 , t he LTC portfolio consisted of 28 skilled nursing and two range of care properties in six states with a g ross investment balance of $8 6. 6 million. Senior Lifestyle Corporation (privately held) manages 16 8 communities consisting of independent living , assisted living, memory care, skilled nursing and rehab ilitative , affordable senior apartments, and short term stays i n 27 states. As of June 30, 2015 , the LTC portfolio consisted of 17 assisted living properties in seven states, with a gross investment balance of $57.3 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 June 30, 2015 , the LTC portfolio consisted of three skilled nursing properties in two states wi th a gross investment balance of $7 7.5 million. Genesis Healthcare ( NYSE: GEN ) provides skilled nursing and assisted/senior living services at more than 500 facilities in 34 states . They also supply rehabilitation and respiratory therapy to more than 1,600 locations in 46 states and the District of Columbia . As of June 30, 2015 , the LTC portfolio consisted of seven skilled nursing properties and one range of care propert y 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 facilities , indep endent living and assisted living in eight states. As of June 30, 2015 , the LTC portfolio consisted of four skilled nursing properties and one range of care property in three states with a gross in vestment balance of $6 3. 4 million. They also operate two skilled nursing properties under a sub - lease with Preferred Care, I nc. which is not included in the Traditions Senior Management annual income . Juniper Communities (privately held) operates 20 facilities comprised of assisted living, memory care, independent living and skilled nursing facilities in four states. As of Ju ne 30, 2015 , the LTC portfolio consisted of six assisted living and memory care properties in three states with a gross investment balan ce of $87.1 million. Fundamental (privately held) provides skilled nursing facilities, assisted living facilities, long term acute care hospitals, hospices, outpatient clinics, behavioral health services and other healthcare services at 7 7 locations in nine states. As of June 30, 2015 , the LTC portfolio consisted of five skilled nursing properties in three states, with a gross investment balance of $4 9.4 million.

(dollar amounts in thousands) Includes annualized GAAP rent for leased properties and interest income from mortgage loans excluding interest income from loans that paid off during the twelve months ended June 30, 2015. (As a % of Total Annual Income(1)) 13 Portfolio Maturity 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 2016 2017 2018 2019 2020 2021 2022 Thereafter 2.0% 1.3% 7.4% 1.3% 10.9% 13.1% 0.6% 49.9% 0.3% 0.7% 0.8% 0.3% 0.0% 0.0% 0.0% 11.4% Leases Loans % of Total % of Total Annual Income (1) % of Total 2016 2,448 $ 2.3% 417 $ 2.5% 2,865 $ 2.3% 2017 1,670 1.5% 872 5.2% 2,542 2.0% 2018 9,332 8.6% 946 5.6% 10,278 8.2% 2019 1,596 1.5% 349 2.1% 1,945 1.6% 2020 13,598 12.6% - - 13,598 10.9% 2021 16,410 15.1% - - 16,410 13.1% 2022 771 0.7% - - 771 0.6% 62,498 57.7% 14,239 84.6% 76,737 61.3% Total 108,323 $ 100.0% 16,823 $ 100.0% 125,146 $ 100.0% Year Rental Income (1) Interest Income (1) Thereafter

Our $400,000 Unsecured Credit Agreement provides us the opportunity to increase the credit line up to $600,000 and matures on October 14, 2018. Includes amortization of debt issue cost. Non-traded shares. Two million shares outstanding with a face rate of 8.5% and a liquidation value of $19.25 per share, convertible into common stock on a one-for-one basis. Our Series C preferred stock is not redeemable by us. Traded on NYSE. Closing price of our common stock as reported by the NYSE on June 30, 2015. Normalized EBITDA for the twelve months ended June 30, 2015. See page 19 for reconciliation of normalized EBITDA. (amounts in thousands, except per share amounts and number of shares) 14 Enterprise Value Brookdale Spring Hill Spring Hill, FL Common Stock 79% Total Debt 19% Preferred Stock 2% Capitalization Capitalization Bank borrowings - weighted average rate 1.7% (1) 80,500 $ Senior unsecured notes -weighted average rate 4.8% (2) 277,467 Total debt - weighted average rate 4.1% 357,967 19% 6/30/15 No. of shares Preferred stock - Series C (3) 38,500 2% Common stock (4) 35,570,495 41.60 $ (5) 1,479,733 79% Total equity 1,518,233 81% 1,876,200 $ 100% Less: Cash and cash equivalents (8,051) 1,868,149 $ Debt to Enterprise Value 19.2% Debt & Preferred to Enterprise Value 21.2% Debt to Normalized EBITDA (6) 3.2x Enterprise Value At June 30, 2015 Debt Equity Closing Price Total Market Value

(dollar amounts in thousands) Our $400,000 Unsecured Credit Agreement provides us the opportunity to increase the credit line up to $600,000 and matures on October 14, 2018. Reflects scheduled principal payments. 15 Debt Maturity Unsecured Line 22% Senior Unsecured Notes 78% Debt Structure $- $100,000 $200,000 $300,000 $400,000 2015 2016 2017 2018 2019 2020 2021 Thereafter $ - $ - $ - $80,500 $ - $ - $ - $ - $25,000 $26,667 $26,167 $28,167 $25,666 $32,160 $32,160 $81,480 Unsecured Line Senior Unsecured Notes $ - $ 25,000 $ 25,000 - 26,667 26,667 - 26,167 26,167 80,500 28,167 108,667 - 25,666 25,666 - 32,160 32,160 - 32,160 32,160 - 81,480 81,480 $ 80,500 $ 277,467 $ 357,967 Year Unsecured Line of Credit (1) Senior Unsecured Notes (2) Total 2020 2017 2016 2015 2019 2018 Total Thereafter 2021

16 Proforma – Assumptions, Debt Maturity and Capitalization Acquisition of a 10-property portfolio for $142.0 million Sale of $100.0 million senior unsecured notes at an annual fixed rate of 4.5% Borrowed $66.0 million under the line of credit Repaid $25.0 million of principal on senior unsecured notes. Debt Maturity Capitalization The following proforma pages represent our financial position and certain portfolio and leverage metrics assuming the following occurred at the beginning of the trailing twelve month period ending June 30, 2015. Common Stock , 73% Total Debt , 25% Preferred Stock , 2% $ - $ - $ - - 26,667 26,667 - 31,167 31,167 146,500 30,167 176,667 - 27,666 27,666 - 32,160 32,160 - 32,160 32,160 - 172,480 172,480 $ 146,500 $ 352,467 $ 498,967 2021 Thereafter Total 2020 Year Unsecured Line of Credit Senior Unsecured Notes Total 2015 2016 2017 2018 2019

17 Proforma – Portfolio Diversification (Annualized GAAP Rent and Interest Income from Mortgage Loans during TTM ended June 30, 2015 ) Annual Income by Operator Gross Investment by State 6.8% 12.4% 12.4% 9.9% 9.1% 6.2% 6.1% 5.6% 5.6% 4.7% 14.3% 11.4% 11.4% 9.1% 8.3% 5.7% 5.6% 5.2% 5.2% 4.3% 0.0% 4.0% 8.0% 12.0% 16.0% Senior Lifestyle Corporation Brookdale Senior Living Prestige Healthcare Senior Care Centers Preferred Care Carespring Health Care Management Genesis Healthcare Traditions Senior Management Juniper Communities Fundamental 2Q 2015 Proforma 20.7% 15.2% 1.2% 9.6% 8.2% 6.0% 5.9% 4.3% 4.2% 3.3% 18.5% 13.6% 8.7% 8.6% 7.4% 5.3% 5.3% 3.8% 3.8% 2.9% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% Texas Michigan Wisconsin Colorado Ohio Florida New Jersey New Mexico California Arizona 2Q 2015 Proforma

(dollar amounts in thousands) See page 16 for proforma assumptions. Trailing twelve months for the periods presented. 18 Financial Data Summary Balance Sheet, Leverage Ratios and Coverage Ratios 6/30/15 12/31/14 12/31/13 12/31/12 Balance Sheet Gross real estate assets $1,337,255 $1,195,255 $1,117,167 $1,104,732 $940,176 Net real estate assets 1,098,170 956,170 892,179 884,361 740,846 Gross asset value 1,424,135 1,282,135 1,190,807 1,151,781 988,922 Total debt 498,967 357,967 281,633 278,835 303,935 Total liabilities 524,528 383,528 305,698 298,972 326,484 Preferred stock 38,500 38,500 38,500 38,500 38,500 Total equity 659,522 659,522 660,121 632,438 463,108 Leverage Ratios Debt to gross asset value 35.0% 27.9% 23.7% 24.2% 30.7% Debt & preferred stock to gross asset value 37.7% 30.9% 26.9% 27.6% 34.6% Debt to total enterprise value 24.8% 19.2% 15.4% 18.1% 21.6% Debt & preferred stock to total enterprise value 26.8% 21.2% 17.5% 20.6% 24.3% Coverage Ratios (2) Debt to normalized EBITDA 4.1x 3.2x 2.6x 2.9x 3.7x Normalized EBITDA / interest incurred 6.0x 7.2x 7.3x 7.7x 8.3x Normalized EBITDA / fixed charges 5.2x 5.9x 6.0x 6.1x 6.2x Proforma 6/30/2015 (1)

(dollar amounts in thousands) For leases and loans in place at June 30, 2015, assuming no renewals, modification or replacement, and no new investments are added to our portfolio, except for the 10-property portfolio, as previously discussed on page 16. See page 16 for proforma assumptions. Represents a 1% provision for loan loss reserve related to additional loan proceeds funded under an existing mortgage loan. 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. Represents revenue from the Sunwest bankruptcy settlement distribution. 19 Financial Data Summary Reconciliation of Normalized EBITDA and Fixed Charges Non-Cash Revenue Components 2,179 $ 2,879 $ 2,792 $ 1,892 $ 1,589 $ (384) (470) (513) (513) (513) 933 1,195 1,193 1,193 1,193 2,728 $ 3,604 $ 3,472 $ 2,572 $ 2,269 $ Straight-line rent Amort of lease inducement Net Effective Interest 2Q15 3Q15 (1) 4Q15 (1) 1Q16 (1) 2Q16 (1) 6/30/15 Net income 79,085 $ 73,602 $ 73,399 $ 57,815 $ 51,327 $ Less: Gain on sale of real estate, net (3,819) (3,819) (4,959) (1,605) (16) Add: Interest expense 19,271 14,473 13,128 11,364 9,932 Add: Depreciation and amortization 26,685 26,685 25,529 24,706 22,153 Adjusted EBITDA 121,222 110,941 107,097 92,280 83,396 Add back/(deduct): Non-recurring one-time items 400 (2) 400 (2) - 2,687 (3) (347) (4) Normalized EBITDA 121,622 $ 111,341 $ 107,097 $ 94,967 $ 83,049 $ Interest expense: 19,271 $ 14,473 $ 13,128 $ 11,364 $ 9,932 $ Add: Capitalized interest 1,061 1,061 1,506 932 129 Interest incurred 20,332 15,534 14,634 12,296 10,061 Interest incurred 20,332 15,534 14,634 12,296 10,061 Preferred stock dividend 3,273 3,273 3,273 3,273 3,273 Fixed Charges 23,605 $ 18,807 $ 17,907 $ 15,569 $ 13,334 $ 12/31/14 12/31/13 12/31/12 Trailing Twelve Months Ended Proforma 6/30/15 (1)

(amounts in thousands, except per share amounts) 20 Consolidated Statements of Income The Oxford Grand Wichita, KS 2015 2014 2015 2014 Revenues Rental income 27,116 $ 25,025 $ 53,794 $ 50,277 $ Interest income from mortgage loans 5,053 4,139 9,660 8,232 Interest and other income 218 63 413 156 Total revenues 32,387 29,227 63,867 58,665 Expenses Interest expense 3,854 3,088 7,620 6,275 Depreciation and amortization 6,977 6,302 13,756 12,600 Provistions for doubtful accounts and notes 429 11 432 38 General and administrative expenses 3,952 2,693 7,448 5,615 Total expenses 15,212 12,094 29,256 24,528 Operating Income 17,175 17,133 34,611 34,137 Income from unconsolidated joint venture 753 - 869 - Gain on sale of real estate assets, net - 1,140 - 1,140 Net Income 17,928 18,273 35,480 35,277 Income allocated to participating securities (126) (117) (249) (220) Income allocated to preferred stockholders (818) (818) (1,636) (1,636) Net income available to common stockholders 16,984 $ 17,338 $ 33,595 $ 33,421 $ Earnings per common share: Basic $0.48 $0.50 $0.95 $0.97 Diluted $0.48 $0.50 $0.94 $0.96 Weighted average shares used to calculate earnings per common share: Basic 35,299 34,597 35,288 34,592 Diluted 37,311 36,621 37,302 36,617 Dividends declared and paid per common share $0.51 $0.51 $1.02 $1.02 (unaudited) (unaudited) Three Months Ended Six Months Ended June 30, June 30,

(amounts in thousands, except per share) 21 Consolidated Balance Sheets December 31, 2014 December 31, 2014 ASSETS (unaudited) (audited) (unaudited) (audited) Investments: LIABILITIES Land 85,184 $ 80,024 $ Buildings and improvements 903,979 869,814 Bank borrowings 80,500 $ - $ Accumulated depreciation and amortization (237,024) (223,315) Senior unsecured notes 277,467 281,633 Real estate properties, net 752,139 726,523 Accrued interest 3,574 3,556 Mortgage loans receivable, net of loan loss Earn-out liabilities 3,367 3,258 reserves: 2015 - $2,061; 2014 - $1,673 204,031 165,656 Accrued expenses and other liabilities 18,620 17,251 Real estate investments, net 956,170 892,179 Total liabilities 383,528 305,698 Investment in unconsolidated joint venture 20,722 - Investments, net 976,892 892,179 EQUITY Other assets: Stockholders' equity: Cash and cash equivalents 8,051 25,237 Preferred stock (1) 38,500 38,500 Debt issue costs, net 3,490 3,782 Common stock (2) 356 355 Interest receivable 2,129 597 Capital in excess of par value 719,216 717,396 Straight-line rent receivable, net of allowance for Cumulative net income 890,727 855,247 doubtful accounts: 2015 - $775; 2014 - $731 37,060 32,651 Accumulated other comprehensive income 65 82 Prepaid expenses and other assets 13,048 9,931 Cumulative distributions (989,342) (951,459) Notes receivable 2,380 1,442 Total equity 659,522 660,121 Total assets 1,043,050 $ 965,819 $ Total liabilities and equity 1,043,050 $ 965,819 $ (1) Preferred stock $0.01 par value; 15,000 shares authorized; shares issued and outstanding: 2015 - 2,000; 2014 - 2,000 (2) Common stock $0.01 par value; 60,000 shares authorized; shares issued and outstanding: 2015 - 35,570; 2014 - 35,480 June 30, 2015 June 30, 2015

(unaudited, amounts in thousands, except per share amounts) 22 Funds from Operations Reconciliation of FFO, AFFO, and FAD Represents a $400 provision for loan loss reserve related to additional loan proceeds funded under an existing mortgage loan. 2015 2014 2015 2014 GAAP Net income available to common stockholders 16,984 $ 17,338 $ 33,595 $ 33,421 $ Add: Depreciation and amortization 6,977 6,302 13,756 12,600 Less: Gain on sale of real estate, net - (1,140) 0 (1,140) NAREIT FFO available to common stockholders 23,961 22,500 47,351 44,881 Add: Non-recurring one-time items 400 (1) - 400 (1) - Normalized FFO available to common stockholders 24,361 22,500 47,751 44,881 Less: Non-cash rental income (1,795) (443) (3,718) (917) (Less) add: Effective interest income from mortgage loans (934) 20 (1,485) 40 Less: Deferred income from unconsolidated joint ventures (502) - (579) - Normalized adjusted FFO (AFFO) 21,130 22,077 41,969 44,004 Add: Non-cash compensation charges 1,099 783 2,081 1,449 Add: Non-cash interest related to earn-out liabilities 55 - 109 - Less: Capitalized interest (150) (435) (297) (742) Normalized funds available for distribution (FAD) 22,134 $ 22,425 $ 43,862 $ 44,711 $ $0.67 $0.64 $1.32 $1.27 $0.59 $0.62 $1.17 $1.25 $0.61 $0.63 $1.22 $1.26 Diluted normalized FFO available to common stockholders per share Diluted normalized AFFO per share Diluted normalized FAD per share Six Months Ended June 30, June 30, Three Months Ended

(unaudited, amounts in thousands, except per share amounts) 23 Funds from Operations Willowbrook Place Littleton, CO Reconciliation of FFO Per Share For the six months ended June 30, 2014 2014 2014 Normalized FFO/AFFO/FAD available to common stockholders $ 47,751 $ 44,881 $ 41,969 $ 44,004 $ 43,862 $ 44,711 Effect of dilutive securities: Participating securities 249 220 249 220 249 220 Series C cumulative preferred 1,636 1,636 1,636 1,636 1,636 1,636 Diluted normalized FFO/AFFO/FAD assuming conversion $ 49,636 $ 46,737 $ 43,854 $ 45,860 $ 45,747 $ 46,567 35,288 34,592 35,288 34,592 35,288 34,592 Effect of dilutive securities: Stock options 14 25 14 25 14 25 Participating securities 244 211 244 211 244 211 Series C cumulative preferred 2,000 2,000 2,000 2,000 2,000 2,000 Shares for diluted normalized FFP/AFFO/FAD per share 37,546 36,828 37,546 36,828 37,546 36,828 $1.32 $1.27 $1.17 $1.25 $1.22 $1.26 Diluted normalized FFO/AFFO/FAD per share 2015 FFO AFFO FAD 2015 2015 Shares for basic FFO/AFFO/FAD per share

24 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 Properties (“ALF”) : The ALF portfolio consists of assisted living, independent living, and/or memory care properties. (See Independent Living an d Memory Care) Assisted living properties are s enior hou sing properties serving elderly persons who require assistance with activities of daily living, but do not require the constant supervision skilled nursing properties provide. Services are usually available 24 hours a day and include personal supervision and assistance with eating , bathing, grooming and administering medication. The facilities provide a combination of housing, supportive services, personalized as sistance 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 Properties (“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.

25 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 uni ts in service at any given time. Memory Care Properties (“MC”) : Senior housing properties offering specialized options for seniors with Alzheimer’s disease and other forms of dementia. The se facilities offer dedicated care and specialized programming for various conditions relating to memory loss in a secured envir o nment that is typically smaller in scale and more residential in nature than traditional assisted living facilities. These facilities 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 50,00 0 or more population. Micropolitan Statistical Areas ( “ Micro - SA ” ) : Based on the U.S. Census Bureau, Micro - SA is a geographic entity defined by the Office of Manageme nt and Budget (OMB) for use by Federal statistical agencies in collecting, tabulating, and publishing Federal 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 esta te 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 ad justed for non - recurring, infrequent, or unusual items and before interest, taxes, depreciation, amortization, and rent divided by the operator’s contractual lease rent. Managemen t fees are imputed at 5% of revenues. Normalized EBITDARM Coverage: The tr ailing twelve month’s earnings from the operator financial statements adjusted for non - recurring, infrequent, or unusual items and before interest, taxes, depreciation, amortization, rent, and management fees divided by the operator’s contractual lease ren t. Normalized FAD: FAD adjusted for non - recurring, infrequent or unusual items . Normalized FFO: FFO adjusted for non - recurring, infrequent or unusual items. Occupancy: The 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 given time. Operator Financial Statements: Property level operator financial s tatements which are unaudited and have not been independently verified by us.

26 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 properties 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 state, but generally charters are granted by state boards of education eith er 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 set forth in the charter. Upon receipt of a char ter, schools receive an an nuity from the state for each student enrolled. Skilled Nursing Properties (“SNF”) : Senior housing properties providing restorative, rehabilitative and nursing care for people not requiring the more extensive and sophisticated treatment available at acut e 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 dat e 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 service. Under Development Properties (“UDP”): Development project s to construct senior housing propert ies .

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, 2014 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 19, 22, and 23 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. 27 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 properties (or SNF), assisted living properties (or ALF), independent living properties (or ILF), memory care properties (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.