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		<title>Rockwell Medical Presents PRIME Study Results at the 50th ERA-EDTA Meeting in Istanbul, Turkey</title>
		<link>http://feedproxy.google.com/~r/RichmondBrothersInc/~3/GuG3wJJbzlI/rockwell-medical-presents-prime-study-results-at-the-50th-era-edta-meeting-in-istanbul-turkey</link>
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		<pubDate>Mon, 20 May 2013 13:33:38 +0000</pubDate>
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		<category><![CDATA[Press Releases - Rockwell Medical]]></category>
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		<description><![CDATA[Unique Iron Drug SFP Met Primary Endpoint Demonstrating Statistically Significant 35% Reduction in ESA Dose; Safety Profile Similar to Placebo WIXOM, MI &#8212; (Marketwired) &#8212; 05/20/13 &#8212; Rockwell Medical (NASDAQ: RMTI), a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron [...]]]></description>
			<content:encoded><![CDATA[<p style="line-height: 12.0pt;"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Unique Iron Drug SFP Met Primary Endpoint Demonstrating Statistically Significant 35% Reduction in ESA Dose; Safety Profile Similar to Placebo</span></strong></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">WIXOM, MI</span> &#8212; (Marketwired) &#8212; 05/20/13 &#8212; Rockwell Medical (NASDAQ: RMTI), a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis, announced today PRIME clinical study results for Soluble Ferric Pyrophosphate (SFP) at the 50<em><sup><span style="font-family: 'Arial','sans-serif';">th</span></sup></em> ERA-EDTA congress in Istanbul, Turkey. SFP is the Company&#8217;s investigational iron-delivery drug for the treatment of iron deficiency in hemodialysis patients, nearing completion of its Phase 3 clinical studies. Dr. Ajay Gupta, MD, Chief Scientific Officer of Rockwell presented the PRIME study results at the Late Breaking Clinical Trials session. This is fully-analyzed data, including atypical data subsequently found in a few study subjects, superseding initial top-line data announced Feb 4, 2013.</p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">&#8220;SFP is a very promising parenteral iron supplement for the treatment of anemia in CKD-HD patients and could address the unmet need of correcting their functional iron deficiency,&#8221; stated Professor Francesco Locatelli, MD, Scientific Director of the Department of Nephrology, Dialysis and Renal Transplantation at Alessandro Manzoni Hospital Lecco, Italy. &#8220;The results of this study are important as it is the first demonstration that administration of soluble iron salts can be achieved safely without the risk of high serum iron concentrations, which can potentially lead to oxidative stress. This study further demonstrates the potential for reducing IV iron and/or ESA doses while maintaining hemoglobin levels in CKD-HD patients.&#8221;</span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">&#8220;We are very pleased to present the exciting results of this well-run study,&#8221; stated Dr. Raymond Pratt, Chief Medical Officer of Rockwell Medical. &#8220;The SFP dose of 11 µg iron/dL dialysate delivered sufficient iron without increasing iron stores while greatly reducing ESA and IV iron requirements. The safety profile of SFP was excellent. The fact that the incidence of intra-dialytic hypotension was numerically less in SFP compared to placebo group supports the safety of SFP-iron delivery via dialysate. The 35% higher ESA dose required in the placebo arm to maintain hemoglobin compared to the SFP arm, supports our belief that SFP will demonstrate efficacy in the Phase 3 CRUISE clinical studies, where ESA titration and IV iron is not permitted.&#8221; </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">The PRIME study was a nine-month, prospective, randomized, placebo-controlled, double-blinded, multi-center study in United States that randomized 108 patients equally to dialysate containing SFP-iron <em><span style="font-family: 'Arial','sans-serif';">versus</span></em> conventional dialysate. A total of 103 patients received blinded study drug (52 SFP, 51 Placebo; modified ITT population). In all study patients, ESA doses were titrated to maintain hemoglobin in a target range of 9.5 to 11.5 g/dL according to an algorithm managed by an independent centralized anemia management group. At the end of treatment, the hemoglobin value in the SFP group was 10.5 g/dL and 10.4 g/dL in the placebo group. Intravenous (IV) iron was administered according to a protocol to treat iron deficiency. </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">The primary objective of the study was to determine whether regular administration of SFP via dialysate reduced the requirement for ESA dose by maintaining iron balance and optimizing iron delivery. The primary endpoint was the percent change in ESA dose from baseline to end of treatment (final two weeks of treatment period). Baseline ESA dose was similar between SFP (9483 U/wk) and placebo (9205 U/wk). In the modified ITT population, at the end of the study, ESA dose in the SFP arm was 9871 U/wk and placebo was 12628 U/wk. After adjusting for differences in baseline hemoglobin, the SFP arm required 35% less prescribed ESA compared to placebo. The difference between the two groups was statistically significant (p=0.045). The ESA sparing effect from SFP was observed without any increase in serum ferritin or pre-dialysis transferrin saturation. The PRIME study demonstrated that regular administration of SFP-iron via dialysate reduced the usage of erythropoietin stimulating agents (ESAs) during hemodialysis by 35% while maintaining iron balance and maximizing iron delivery.</span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">The adverse event profile of the SFP group was similar to placebo with respect to event, frequency and severity. The numbers and types of serious adverse events were also similar in both groups. Importantly the incidence, frequency and severity of intradialytic hypotension in the SFP group were similar to placebo. There were no hypersensitivity or anaphylactoid reactions reported in the SFP group over the 9 months of the study.</span></p>
<p style="line-height: 12.0pt;"><em><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">About SFP</span></strong></em><strong><em><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;"><br /> </span></em></strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">SFP is a unique iron compound that is delivered to the hemodialysis patient via dialysate, replacing the 5-7 mg of iron lost during a dialysis treatment. SFP is introduced into the sodium bicarbonate concentrate that subsequently is mixed into dialysate. Once in the dialysate, SFP crosses the dialyzer membrane and enters the bloodstream where it immediately binds to apo-transferrin and is taken to the bone marrow, mimicking the way dietary iron is processed in the human body. In completed clinical trials to date, SFP has demonstrated that it can safely deliver iron and maintain hemoglobin levels, while decreasing ESA use without an increase in iron stores.</span></p>
<p style="line-height: 12.0pt;"><em><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">About Rockwell Medical</span></strong></em><strong><em><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;"><br /> </span></em></strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell Medical is a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell&#8217;s lead drug candidate in late-stage clinical development is for the treatment of iron deficiency in dialysis patients and is called Soluble Ferric Pyrophosphate (SFP). SFP delivers iron to the bone marrow of dialysis patients in a non-invasive, physiologic manner via dialysate during their regular dialysis treatment. In completed clinical trials to date, SFP has demonstrated that it can safely deliver sufficient iron to the bone marrow. SFP is nearing completion of its Phase 3 clinical studies (CRUISE-1 and CRUISE-2) and is expected to address an estimated $600M U.S. market. </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell is preparing to launch its FDA approved generic drug called Calcitriol to treat secondary hyperparathyroidism in dialysis patients. Calcitriol active vitamin D injection is indicated in the management of hypocalcemia in patients undergoing chronic renal dialysis. It has been shown to significantly reduce elevated parathyroid hormone levels. Reduction of PTH has been shown to result in an improvement in renal osteodystrophy. Rockwell intends to launch Calcitriol as soon as it receives FDA manufacturing approval, addressing an estimated $350M U.S. market. </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell is also an established manufacturer and leader in delivering high-quality hemodialysis concentrates/dialysates to dialysis providers and distributors in the U.S. and abroad. As one of the two major suppliers in the U.S., Rockwell&#8217;s products are used to maintain human life by removing toxins and replacing critical nutrients in the dialysis patient&#8217;s bloodstream. Rockwell has three manufacturing and distribution facilities located in the U.S. and its operating infrastructure is a ready-made sales and distribution channel that is able to provide seamless integration into the commercial market for its drug products, Calcitriol and SFP upon FDA market approval. </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell&#8217;s exclusive renal drug therapies support disease management initiatives to improve the quality of life and care of dialysis patients and are intended to deliver safe and effective therapy, while decreasing drug administration costs and improving patient convenience. Rockwell Medical is developing a pipeline of drug therapies, including extensions of SFP for indications outside of hemodialysis. Please visit <a href="http://www.rockwellmed.com/">www.rockwellmed.com</a> for more information. For a demonstration of SFP&#8217;s unique mechanism of action in delivering iron via dialysate, please view the animation video at <a href="http://www.rockwellmed.com/collateral/documents/english-us/mode-of-action.html">http://www.rockwellmed.com/collateral/documents/english-us/mode-of-action.html</a>.</span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Certain statements in this press release constitute &#8220;forward-looking statements&#8221; within the meaning of the federal securities laws, including, but not limited to, Rockwell&#8217;s intention to launch Calcitriol and SFP following FDA approval. Words such as &#8220;may,&#8221; &#8220;might,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;believe,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;continue,&#8221; &#8220;predict,&#8221; &#8220;forecast,&#8221; &#8220;project,&#8221; &#8220;plan,&#8221; &#8220;intend&#8221; or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While Rockwell Medical believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in Rockwell Medical&#8217;s SEC filings. Thus, actual results could be materially different. Rockwell Medical expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.</span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Michael Rice<br /> </span>Investor Relations<br /> 646-597-6979</p>
<p>David Connolly<br /> Media Contact<br /> 617-374-8800</p>
<p><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; color: black; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Source: Rockwell Medical Technologies, Inc. </span></p>
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		<title>First Quarter Above &amp; Beyond Winners</title>
		<link>http://feedproxy.google.com/~r/RichmondBrothersInc/~3/3S1alzfumjo/first-quarter-above-beyond-winners</link>
		<comments>http://www.richmondbrothers.com/first-quarter-above-beyond-winners#comments</comments>
		<pubDate>Thu, 16 May 2013 20:28:47 +0000</pubDate>
		<dc:creator>Admin</dc:creator>
				<category><![CDATA[Blog]]></category>
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		<description><![CDATA[&#8220;The only way to discover the limits of the possible is to go beyond them into the impossible.&#8221; -Arthur C. Clarke As you may remember from previous posts, Richmond Brothers&#8217; Above &#38; Beyond recognition program is a way for employees to provide a feedback loop to each other, recognizing the positive impacts they have made. [...]]]></description>
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<p><img class="alignleft size-medium wp-image-48446" title="Cindy " src="http://www.richmondbrothers.com/wp-content/uploads/2012/10/Cindy_color-e1350758861106-199x300.jpg" alt="" width="199" height="300" /></p>
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<p><strong>&#8220;The only way to discover the limits of the possible is to go beyond them into the impossible.</strong>&#8221; -Arthur C. Clarke</p>
<p>As you may remember from previous posts, Richmond Brothers&#8217; Above &amp; Beyond recognition program is a way for employees to provide a feedback loop to each other, recognizing the positive impacts they have made. The program parallels with Richmond Brothers&#8217; core values and mission statement.</p>
<p>We are proud to announce there was a tie with our first quarter Above &amp; Beyond winners, Sue VanEyck and Cindy Ott. These two wonderful ladies provided the most acts that went the extra mile for both clients and co-workers alike. In addition to that tie, they also both recognized and awarded the most instances that their co-workers did more than what was required for their normal job duties.</p>
<p>Sue was recognized for her positive attitude and treating her co-workers to a sweet snack, among other things. Cindy was instrumental in providing extra help with office projects and keeping office supplies stocked for co-workers, just to name a few.</p>
<p>Congratulations, you two! You are well-deserving of this award!</p>
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		<title>Rockwell Medical Announces Long-Term, National Supply Agreement With DaVita</title>
		<link>http://feedproxy.google.com/~r/RichmondBrothersInc/~3/PLVMOunX6cA/rockwell-medical-announces-long-term-national-supply-agreement-with-davita</link>
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		<pubDate>Wed, 08 May 2013 22:37:38 +0000</pubDate>
		<dc:creator>Admin</dc:creator>
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		<description><![CDATA[&#160; Companies Solidify and Expand Their Business Relationship WIXOM, Mich., May 8, 2013 (GLOBE NEWSWIRE) &#8212; Rockwell Medical, Inc. (Nasdaq:RMTI), a fully-integrated biopharmaceutical company offering innovative products and services targeting end-stage renal disease (ESRD), chronic kidney disease (CKD), and iron deficiency anemia, announced today they have signed a multi-year, national product supply agreement with DaVita, [...]]]></description>
			<content:encoded><![CDATA[<p>&nbsp;</p>
<p style="line-height: 12.0pt;"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Companies Solidify and Expand Their Business Relationship</span></strong></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">WIXOM, Mich., May 8, 2013 (GLOBE NEWSWIRE) &#8212; Rockwell Medical, Inc. (Nasdaq:RMTI), a fully-integrated biopharmaceutical company offering innovative products and services targeting end-stage renal disease (ESRD), chronic kidney disease (CKD), and iron deficiency anemia, announced today they have signed a multi-year, national product supply agreement with DaVita, the dialysis division of DaVita HealthCare Partners, Inc. The supply agreement includes a significant increase in the number of DaVita dialysis clinics that will purchase product from Rockwell, and covers a five-year period.</span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">&#8220;We are pleased to enter into this agreement and expand our business with DaVita,&#8221; stated Rob Chioini, Chairman and CEO of Rockwell. &#8221;This multi-year supply agreement will significantly expand our business. It includes the conversion to our CitraPure<sup>®</sup> concentrate line and provides an avenue for future sales of new Rockwell products.&#8221;</span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">DaVita is the dialysis division of DaVita HealthCare Partners Inc., a Fortune 500<sup>®</sup> company that, through its operating divisions, provides a variety of health care services to patient populations throughout the United States and abroad. A leading provider of kidney care in the United States, DaVita delivers dialysis services to patients with chronic kidney failure and end stage renal disease. As of December 31, 2012, DaVita operated or provided administrative services at 2,000 outpatient dialysis centers located in the United States serving approximately 153,000 patients. The company also operated 36 outpatient dialysis centers located in five countries outside the United States.</span></p>
<p style="line-height: 12.0pt;"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">About Rockwell Medical</span></strong></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell Medical is a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell&#8217;s lead drug candidate in late-stage clinical development is for the treatment of iron deficiency in dialysis patients and is called Soluble Ferric Pyrophosphate (SFP). SFP delivers iron to the bone marrow of dialysis patients in a non-invasive, physiologic manner via dialysate during their regular dialysis treatment. In completed clinical trials to date, SFP has demonstrated that it can safely deliver sufficient iron to the bone marrow. SFP is nearing completion of its Phase 3 clinical studies (CRUISE-1 and CRUISE-2) and is expected to address an estimated $600M U.S. market. </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell is preparing to launch its FDA approved generic drug called Calcitriol to treat secondary hyperparathyroidism in dialysis patients. Calcitriol active vitamin D injection is indicated in the management of hypocalcemia in patients undergoing chronic renal dialysis. It has been shown to significantly reduce elevated parathyroid hormone levels. Reduction of PTH has been shown to result in an improvement in renal osteodystrophy. Rockwell intends to launch Calcitriol as soon as it receives FDA manufacturing approval, addressing an estimated $350M U.S. market.  </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell is also an established manufacturer and leader in delivering high-quality hemodialysis concentrates/dialysates to dialysis providers and distributors in the U.S. and abroad. As one of the two major suppliers in the U.S., Rockwell&#8217;s products are used to maintain human life, by removing toxins and replacing critical nutrients in the dialysis patient&#8217;s bloodstream. Rockwell has three manufacturing and distribution facilities located in the U.S. and its operating infrastructure is a ready-made sales and distribution channel that is able to provide seamless integration into the commercial market for its drug products, Calcitriol and SFP upon FDA market approval. </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell&#8217;s exclusive renal drug therapies support disease management initiatives to improve the quality of life and care of dialysis patients and are intended to deliver safe and effective therapy, while decreasing drug administration costs and improving patient convenience. Rockwell Medical is developing a pipeline of drug therapies, including extensions of SFP for indications outside of hemodialysis. Please visit <a href="http://www.rockwellmed.com" target="_top">www.rockwellmed.com</a> for more information. For a demonstration of SFP&#8217;s unique mechanism of action in delivering iron via dialysate, please view the animation video at <a href="http://www.rockwellmed.com/collateral/documents/english-us/mode-of-action.html" target="_top">http://www.rockwellmed.com/collateral/documents/english-us/mode-of-action.html</a>.</span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">The Rockwell Medical Technologies, Inc. logo is available at <a href="http://www.globenewswire.com/newsroom/prs/?pkgid=6773" target="_top">http://www.globenewswire.com/newsroom/prs/?pkgid=6773</a></span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Certain statements in this press release constitute &#8220;forward-looking statements&#8221; within the meaning of the federal securities laws. Words such as &#8220;may,&#8221; &#8220;might,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;believe,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;continue,&#8221; &#8220;predict,&#8221; &#8220;forecast,&#8221; &#8220;project,&#8221; &#8220;plan&#8221;, &#8220;intend&#8221; or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in Rockwell Medical&#8217;s SEC filings. Thus, actual results could be materially different. Rockwell Medical expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.</span></p>
<pre style="line-height: 12.0pt;"><span style="color: black;">CONTACT: Michael Rice, Investor Relations at 646-597-6979</span></pre>
<pre style="line-height: 12.0pt;"><span style="color: black;"> </span></pre>
<pre style="line-height: 12.0pt;"><span style="color: black;">         David Connolly, Media Contact at 617-374-8800</span></pre>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: blue;"><img id="_x0000_i1025" src="http://media.globenewswire.com/cache/8162/small/7516.jpg" alt="Rockwell Medical Technologies, Inc. Logo" width="130" height="31" border="0" /></span></p>
<p><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; color: black; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Source: Rockwell Medical, Inc. </span></p>
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		<title>Rockwell Medical Reports 2013 First Quarter Results; Signs Long-Term, National Supply Agreement With DaVita</title>
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		<pubDate>Wed, 08 May 2013 22:32:41 +0000</pubDate>
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		<category><![CDATA[Press Releases - Rockwell Medical]]></category>
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		<description><![CDATA[&#160; - Compelling PRIME Data, Calcitriol Manufacturing Submission Highlight Q1- - Company to expand business with DaVita via multi-year supply deal &#8211; WIXOM, Mich., May 8, 2013 (GLOBE NEWSWIRE) &#8212; Rockwell Medical, Inc. (Nasdaq:RMTI), a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the [...]]]></description>
			<content:encoded><![CDATA[<p>&nbsp;</p>
<p style="text-align: center; line-height: 12.0pt;" align="center"><strong><em><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">- Compelling PRIME Data, Calcitriol Manufacturing Submission Highlight Q1-</span></em></strong><strong><em><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;"></p>
<p> <strong><span style="font-family: 'Arial','sans-serif';">- Company to expand business with DaVita via multi-year supply deal &#8211; </span></strong></span></em></strong></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">WIXOM, Mich., May 8, 2013 (GLOBE NEWSWIRE) &#8212; Rockwell Medical, Inc. (Nasdaq:RMTI), a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis, reported financial results for the first quarter of 2013.</span></p>
<p style="line-height: 12.0pt;"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Q1 2013 Highlights</span></strong></p>
<ul type="disc">
<li class="MsoNormal" style="color: black; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 12.0pt; mso-list: l1 level1 lfo1; tab-stops: list .5in;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; mso-fareast-font-family: 'Times New Roman';">Sales were $12.3 million, an increase of 2.6% over Q1 2012.</span></li>
<li class="MsoNormal" style="color: black; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 12.0pt; mso-list: l1 level1 lfo1; tab-stops: list .5in;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; mso-fareast-font-family: 'Times New Roman';">Domestic sales increased 5.5% over Q1 2012.</span></li>
<li class="MsoNormal" style="color: black; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 12.0pt; mso-list: l1 level1 lfo1; tab-stops: list .5in;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; mso-fareast-font-family: 'Times New Roman';">Gross profit decreased $300,000, primarily due to higher material and operational costs.</span></li>
<li class="MsoNormal" style="color: black; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 12.0pt; mso-list: l1 level1 lfo1; tab-stops: list .5in;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; mso-fareast-font-family: 'Times New Roman';">Cash and investments aggregated $5.8 million as of March 31, 2013.</span></li>
</ul>
<p style="line-height: 12.0pt;"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Drug Development Highlights</span></strong></p>
<ul type="disc">
<li class="MsoNormal" style="color: black; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 12.0pt; mso-list: l0 level1 lfo2; tab-stops: list .5in;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; mso-fareast-font-family: 'Times New Roman';">Calcitriol (active vitamin D) injection data was submitted to FDA for manufacturing approval.</span></li>
<li class="MsoNormal" style="color: black; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 12.0pt; mso-list: l0 level1 lfo2; tab-stops: list .5in;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; mso-fareast-font-family: 'Times New Roman';">PRIME clinical data showing 35% ESA reduction to be presented at upcoming ERA-EDTA, Istanbul, Turkey.</span></li>
<li class="MsoNormal" style="color: black; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 12.0pt; mso-list: l0 level1 lfo2; tab-stops: list .5in;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; mso-fareast-font-family: 'Times New Roman';">CRUISE-1 top-line data projected Q3 2013; CRUISE-2 top-line data projected Q4 2013.</span></li>
</ul>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">For the quarter, Rockwell reported a loss of ($15.4) million or ($0.72) per share compared to ($10.6) million or ($0.54) per share in the first quarter of 2012. R&amp;D costs were $12.75 million compared to $9.4 million in the first quarter of 2012. Non-cash charges for equity compensation and warrant revaluation expense were $2.3 million.</span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">&#8220;We achieved two very important clinical goals in Q1,&#8221; stated Rob Chioini, Founder, Chairman and CEO of Rockwell Medical. &#8220;First, our SFP clinical data from the PRIME study was excellent, showing an impressive reduction in the need for ESA and supporting our belief that SFP will demonstrate efficacy in the Phase 3 CRUISE clinical studies. Second, we submitted our Calcitriol manufacturing data to the FDA, which was the last major step we needed to complete to be able to launch the drug commercially. Once we get approval confirmation from the FDA, we plan to offer Calcitriol to dialysis providers across the U.S. and we are optimistic that we will have success gaining sales.&#8221;</span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Mr. Chioini further stated, &#8220;Our domestic sales were in line with our expectations. Going forward we expect to see increased sales growth, notably from our CitraPure<sup>®</sup> product line, new product offerings and from the increased commitment in our new supply contract with DaVita.&#8221;</span></p>
<p style="line-height: 12.0pt;"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Conference Call Information</span></strong></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell Medical will be hosting a conference call to review its first quarter 2013 results on Wednesday, May 8, 2013 at 4:30 pm ET. Investors are encouraged to call a few minutes in advance at (877) 383-7438, passcode #64250555 or to listen to the call via webcast at the Rockwell Medical IR web page: <a href="http://ir.rockwellmed.com/" target="_top">http://ir.rockwellmed.com/</a> </span></p>
<p style="line-height: 12.0pt;"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">About SFP</span></strong></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">SFP is a unique iron compound that is delivered to the hemodialysis patient via dialysate, replacing the 5-7mg of iron lost during a dialysis treatment. SFP is introduced into the sodium bicarbonate concentrate that subsequently is mixed into dialysate. Once in the dialysate, SFP crosses the dialyzer membrane and enters the bloodstream where it immediately binds to apo-transferrin and is taken to the bone marrow, mimicking the way dietary iron is processed in the human body. In completed clinical trials to date, SFP has demonstrated that it can safely deliver iron and maintain hemoglobin levels, while decreasing ESA use without an increase in iron stores.</span></p>
<p style="line-height: 12.0pt;"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">About Rockwell Medical</span></strong></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell Medical is a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell&#8217;s lead drug candidate in late-stage clinical development is for the treatment of iron deficiency in dialysis patients and is called Soluble Ferric Pyrophosphate (SFP).  SFP delivers iron to the bone marrow of dialysis patients in a non-invasive, physiologic manner via dialysate during their regular dialysis treatment. In completed clinical trials to date, SFP has demonstrated that it can safely deliver sufficient iron to the bone marrow. SFP is nearing completion of its Phase 3 clinical studies (CRUISE-1 and CRUISE-2) and is expected to address an estimated $600M U.S. market. </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell is preparing to launch its FDA approved generic drug called Calcitriol to treat secondary hyperparathyroidism in dialysis patients. Calcitriol active vitamin D injection is indicated in the management of hypocalcemia in patients undergoing chronic renal dialysis. It has been shown to significantly reduce elevated parathyroid hormone levels. Reduction of PTH has been shown to result in an improvement in renal osteodystrophy. Rockwell intends to launch Calcitriol as soon as it receives FDA manufacturing approval, addressing an estimated $350M U.S. market.   </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell is also an established manufacturer and leader in delivering high-quality hemodialysis concentrates/dialysates to dialysis providers and distributors in the U.S. and abroad. As one of the two major suppliers in the U.S., Rockwell&#8217;s products are used to maintain human life by removing toxins and replacing critical nutrients in the dialysis patient&#8217;s bloodstream.  Rockwell has three manufacturing and distribution facilities located in the U.S. and its operating infrastructure is a ready-made sales and distribution channel that is able to provide seamless integration into the commercial market for its drug products, Calcitriol and SFP upon FDA market approval. </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell&#8217;s exclusive renal drug therapies support disease management initiatives to improve the quality of life and care of dialysis patients and are intended to deliver safe and effective therapy, while decreasing drug administration costs and improving patient convenience.  Rockwell Medical is developing a pipeline of drug therapies, including extensions of SFP for indications outside of hemodialysis. Please visit <a href="http://www.rockwellmed.com" target="_top">www.rockwellmed.com</a> for more information. For a demonstration of SFP&#8217;s unique mechanism of action in delivering iron via dialysate, please view the animation video at <a href="http://www.rockwellmed.com/collateral/documents/english-us/mode-of-action.html" target="_top">http://www.rockwellmed.com/collateral/documents/english-us/mode-of-action.html</a>.</span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">The Rockwell Medical Technologies, Inc. logo is available at <a href="http://www.globenewswire.com/newsroom/prs/?pkgid=6773" target="_top">http://www.globenewswire.com/newsroom/prs/?pkgid=6773</a></span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Certain statements in this press release constitute &#8220;forward-looking statements&#8221; within the meaning of the federal securities laws, including, but not limited to, Rockwell&#8217;s intention to launch Calcitriol and SFP following FDA approval. Words such as &#8220;may,&#8221; &#8220;might,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;believe,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;continue,&#8221; &#8220;predict,&#8221; &#8220;forecast,&#8221; &#8220;project,&#8221; &#8220;plan&#8221;, &#8220;intend&#8221; or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While Rockwell Medical believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in Rockwell Medical&#8217;s SEC filings. Thus, actual results could be materially different. Rockwell Medical expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.</span></p>
<table class="MsoNormalTable" style="mso-cellspacing: 4.5pt; mso-yfti-tbllook: 1184; mso-padding-alt: 0in 0in 0in 0in;" border="0" cellspacing="6" cellpadding="0">
<tbody>
<tr style="mso-yfti-irow: 0; mso-yfti-firstrow: yes;">
<td style="padding: 0in 0in 0in 0in;" colspan="3" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
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<tr style="mso-yfti-irow: 1;">
<td style="padding: 0in 0in 0in 0in;" colspan="3">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">ROCKWELL MEDICAL, INC. AND SUBSIDIARY</span></strong></p>
</td>
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<tr style="mso-yfti-irow: 2;">
<td style="padding: 0in 0in 0in 0in;" colspan="3">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">CONSOLIDATED INCOME STATEMENTS</span></strong></p>
</td>
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<tr style="mso-yfti-irow: 3;">
<td style="padding: 0in 0in 0in 0in;" colspan="3">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">For the three months ended March 31, 2013 and March 31, 2012</span></strong></p>
</td>
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<tr style="mso-yfti-irow: 4;">
<td style="padding: 0in 0in 0in 0in;" colspan="3">
<p class="MsoNormal" style="text-align: center;" align="center"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">(Unaudited)</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 5;">
<td style="padding: 0in 0in 0in 0in;" colspan="3" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 6;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Three Months Ended</span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Three Months Ended</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 7;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></strong></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> March 31, 2013</span></strong></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> March 31, 2012</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 8;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Sales </span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ 12,336,374</span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ 12,028,417</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 9;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Cost of Sales</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">11,055,394</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">10,401,941</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 10;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Gross Profit </span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">1,280,980</span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">1,626,476</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 11;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Selling, General and Administrative</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">3,916,783</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">2,898,684</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 12;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Research and Product Development</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> 12,754,518</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> 9,405,547</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 13;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Operating Income (Loss) </span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">(15,390,321)</span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">(10,677,755)</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 14;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Interest and Investment Income, net</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">10,672</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">111,097</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 15;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Interest Expense</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> 75</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> 253</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 16;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Income (Loss) Before Income Taxes</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">(15,379,724)</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">(10,566,911)</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 17;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Income Tax Expense</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">  &#8211; </span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">  &#8211; </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 18;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Net Income (Loss) </span></strong></p>
</td>
<td style="border: none; border-bottom: double black 2.25pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ (15,379,724)</span></strong></p>
</td>
<td style="border: none; border-bottom: double black 2.25pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ (10,566,911)</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 19;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 20;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Basic Earnings (Loss) per Share </span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">($ 0.72)</span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">($ 0.54)</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 21;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 22; mso-yfti-lastrow: yes;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Diluted Earnings (Loss) per Share </span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">($ 0.72)</span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">($ 0.54)</span></strong></p>
</td>
</tr>
</tbody>
</table>
<p class="MsoNormal" style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black; display: none; mso-hide: all;"> </span></p>
<table class="MsoNormalTable" style="mso-cellspacing: 4.5pt; mso-yfti-tbllook: 1184; mso-padding-alt: 0in 0in 0in 0in;" border="0" cellspacing="6" cellpadding="0">
<tbody>
<tr style="mso-yfti-irow: 0; mso-yfti-firstrow: yes;">
<td style="padding: 0in 0in 0in 0in;" colspan="3" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="padding: 0in 0in 0in 0in;" colspan="3" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 2;">
<td style="padding: 0in 0in 0in 0in;" colspan="3">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">ROCKWELL MEDICAL, INC. AND SUBSIDIARY</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 3;">
<td style="padding: 0in 0in 0in 0in;" colspan="3">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">CONSOLIDATED BALANCE SHEETS</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 4;">
<td style="padding: 0in 0in 0in 0in;" colspan="3">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">As of March 31, 2013 and December 31, 2012</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 5;">
<td style="padding: 0in 0in 0in 0in;" colspan="3" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 6;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"><br /> <strong><span style="font-family: 'Arial','sans-serif';">ASSETS </span></strong></span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">March 31,</span></strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"><br /> <strong><span style="font-family: 'Arial','sans-serif';">2013 (Unaudited)</span></strong></span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">December 31,</span></strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"><br /> <strong><span style="font-family: 'Arial','sans-serif';">2012</span></strong></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 7;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Cash and Cash Equivalents</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ 5,774,297</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ 4,711,730</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 8;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Accounts Receivable, net of a reserve of $34,600 in 2013 and $26,000 in 2012</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">4,462,299</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">4,431,932</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 9;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Inventory</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">2,865,510</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">2,649,639</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 10;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Other Current Assets</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">1,086,167</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">1,356,131</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 11;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Total Current Assets</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">14,188,273</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">13,149,432</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 12;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 13;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Property and Equipment, net</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">1,791,942</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">1,858,442</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 14;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Intangible Assets</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">624,987</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">666,744</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 15;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Goodwill</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">920,745</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">920,745</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 16;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Other Non-current Assets</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> 442,223</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> 429,723</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 17;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Total Assets</span></p>
</td>
<td style="border: none; border-bottom: double black 2.25pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ 17,968,170</span></p>
</td>
<td style="border: none; border-bottom: double black 2.25pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ 17,025,086</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 18;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 19;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 20;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">LIABILITIES AND SHAREHOLDERS&#8217; EQUITY</span></strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"><br />  </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 21;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Capitalized Lease Obligations</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ 1,451</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ 2,280</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 22;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Accounts Payable</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">16,100,474</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">14,833,565</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 23;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Accrued Liabilities</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">12,288,923</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">12,015,978</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 24;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Customer Deposits</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">   82,997</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">   135,133</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 25;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Total Current Liabilities</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> 28,473,845</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> 26,986,956</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 26;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 27;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Capitalized Lease Obligations</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">&#8211;</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">&#8211;</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 28;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 29;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Shareholders&#8217; Equity:</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 30;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Common Shares, no par value, 25,859,138 and 21,494,696 shares issued and outstanding</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">106,884,342</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">92,866,458</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 31;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Common Share Purchase Warrants, 2,175,407 and 2,233,240 warrants issued and outstanding </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> 7,996,964</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">7,178,929</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 32;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Accumulated Deficit</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">(125,386,981)</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">(110,007,257)</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 33;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Accumulated Other Comprehensive Loss</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> &#8211;</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> &#8211;</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 34;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Total Shareholders&#8217; Equity (Deficit)</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> (10,505,675)</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> (9,961,870)</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 35;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 36; mso-yfti-lastrow: yes;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Total Liabilities And Shareholders&#8217; Equity</span></p>
</td>
<td style="border: none; border-bottom: double black 2.25pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ 17,968,170</span></p>
</td>
<td style="border: none; border-bottom: double black 2.25pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ 17,025,086</span></p>
</td>
</tr>
</tbody>
</table>
<p class="MsoNormal" style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black; display: none; mso-hide: all;"> </span></p>
<table class="MsoNormalTable" style="mso-cellspacing: 4.5pt; mso-yfti-tbllook: 1184; mso-padding-alt: 0in 0in 0in 0in;" border="0" cellspacing="6" cellpadding="0">
<tbody>
<tr style="mso-yfti-irow: 0; mso-yfti-firstrow: yes;">
<td style="padding: 0in 0in 0in 0in;" colspan="3" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="padding: 0in 0in 0in 0in;" colspan="3" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 2;">
<td style="padding: 0in 0in 0in 0in;" colspan="3">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">ROCKWELL MEDICAL, INC. AND SUBSIDIARY</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 3;">
<td style="padding: 0in 0in 0in 0in;" colspan="3">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">CONSOLIDATED STATEMENTS OF CASH FLOWS</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 4;">
<td style="padding: 0in 0in 0in 0in;" colspan="3">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">For the three months ended March 31, 2013 and March 31, 2012</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 5;">
<td style="padding: 0in 0in 0in 0in;" colspan="3">
<p class="MsoNormal" style="text-align: center;" align="center"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">(Unaudited)</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 6;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 7;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">2013</span></strong></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;">
<p class="MsoNormal" style="text-align: center;" align="center"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">2012</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 8;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 9;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Cash Flows From Operating Activities:</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 10;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Net (Loss) </span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ (15,379,724)</span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ (10,566,911)</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 11;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Adjustments To Reconcile Net Loss To Net Cash Used In</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 12;">
<td style="padding: 0in 0in 0in 15.0pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Operating Activities:</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 13;">
<td style="padding: 0in 0in 0in 15.0pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Depreciation and Amortization</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">250,530</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">277,200</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 14;">
<td style="padding: 0in 0in 0in 15.0pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Share Based Compensation — Non-employee</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">966,227</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">285,568</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 15;">
<td style="padding: 0in 0in 0in 15.0pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Share Based Compensation- Employees</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">1,350,959</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">1,203,821</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 16;">
<td style="padding: 0in 0in 0in 15.0pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Loss (Gain) on Disposal of Assets</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">5,109</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">10,395</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 17;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 18;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Changes in Assets and Liabilities:</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 19;">
<td style="padding: 0in 0in 0in 15.0pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Decrease (Increase) in Accounts Receivable</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">(30,367)</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">7,741</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 20;">
<td style="padding: 0in 0in 0in 15.0pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Decrease (Increase) in Inventory</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">(215,871)</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">93,892</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 21;">
<td style="padding: 0in 0in 0in 15.0pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Decrease in Other Assets</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">257,464</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">240,838</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 22;">
<td style="padding: 0in 0in 0in 15.0pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Increase (Decrease) in Accounts Payable</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">1,266,909</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">(702,612)</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 23;">
<td style="padding: 0in 0in 0in 15.0pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Increase in Other Liabilities</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">   220,809</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">   848,199</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 24;">
<td style="padding: 0in 0in 0in 18.75pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Changes in Assets and Liabilities</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">  1,498,944</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">  488,058</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 25;">
<td style="padding: 0in 0in 0in 22.5pt;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> Cash Provided By (Used) In Operating Activities </span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> (11,307,955)</span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> (8,301,869)</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 26;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 27;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> Cash Flows From Investing Activities:</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 28;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> Purchase of Equipment</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> (153,380)</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> (88,543)</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 29;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> Proceeds on Sale of Assets</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> 5,998</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> 350</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 30;">
<td style="padding: 0in 0in 0in 22.5pt;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">  Cash (Used) In Investing Activities </span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">(147,382)</span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">(88,193)</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 31;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 32;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> Cash Flows From Financing Activities:</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 33;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Proceeds from the  Issuance of Common Shares and Purchase Warrants</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">12,518,733</span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">16,317,287</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 34;">
<td style="padding: 0in 0in 0in 7.5pt;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">  Payments on Notes Payable and Capital Lease Obligations</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">  (829)</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">  (3,067)</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 35;">
<td style="padding: 0in 0in 0in 22.5pt;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">  Cash Provided By Financing Activities </span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">12,517,904</span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">16,314,220</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 36;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 37;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Increase (Decrease) In Cash</span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">1,062,567</span></strong></p>
</td>
<td style="padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">7,924,158</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 38;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Cash At Beginning Of Period</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">4,711,730</span></p>
</td>
<td style="border: none; border-bottom: solid black 1.0pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';"> 5,715,246</span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 39; mso-yfti-lastrow: yes;">
<td style="padding: 0in 0in 0in 0in;" valign="bottom">
<p class="MsoNormal"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">Cash At End Of Period </span></strong></p>
</td>
<td style="border: none; border-bottom: double black 2.25pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ 5,774,297</span></strong></p>
</td>
<td style="border: none; border-bottom: double black 2.25pt; padding: 0in 0in 0in 0in;" valign="bottom" nowrap="nowrap">
<p class="MsoNormal" style="text-align: right;" align="right"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif';">$ 13,639,404</span></strong></p>
</td>
</tr>
</tbody>
</table>
<pre style="line-height: 12.0pt;"><span style="color: black;">CONTACT: Michael Rice, Investor Relations; (646) 597-6979</span></pre>
<pre style="line-height: 12.0pt;"><span style="color: black;"> </span></pre>
<pre style="line-height: 12.0pt;"><span style="color: black;">         David Connolly, Media Contact; (617) 374-8800</span></pre>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: blue;"><img id="_x0000_i1025" src="http://media.globenewswire.com/cache/8162/small/7516.jpg" alt="Rockwell Medical Technologies, Inc. Logo" width="130" height="31" border="0" /></span></p>
<p><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; color: black; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Source: Rockwell Medical, Inc. </span></p>
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		<title>Keating Capital Realizes $3.7 Million Gain from Portfolio Exit</title>
		<link>http://feedproxy.google.com/~r/RichmondBrothersInc/~3/wpcVjgRppVA/keating-capital-realizes-3-7-million-gain-from-portfolio-exit</link>
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		<pubDate>Wed, 08 May 2013 19:34:05 +0000</pubDate>
		<dc:creator>Admin</dc:creator>
				<category><![CDATA[Holdings]]></category>
		<category><![CDATA[Keating Capital]]></category>
		<category><![CDATA[Press Releases - Keating Capital]]></category>

		<guid isPermaLink="false">http://www.richmondbrothers.com/?p=49455</guid>
		<description><![CDATA[GREENWOOD VILLAGE, Colo.&#8211;(BUSINESS WIRE)&#8211; Keating Capital, Inc. (“Keating Capital” or the “Company”) (KIPO) announced today that the Company completed the disposition of its entire position in LifeLock, Inc. on May 2, 2013. In total, the Company generated approximately $3.7 million of net realized gains from its LifeLock investment, or approximately $0.40 for each Keating Capital [...]]]></description>
			<content:encoded><![CDATA[<p>GREENWOOD VILLAGE, Colo.&#8211;(BUSINESS WIRE)&#8211; <br /> <a class="inline" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fir.keatingcapital.com%2F&amp;esheet=50625362&amp;lan=en-US&amp;anchor=Keating+Capital%2C+Inc.&amp;index=1&amp;md5=95ad8676ca0cbe257da2480cad7a2ef9"><span>Keating Capital, Inc.</span></a> (“Keating Capital” or the “Company”) (<span class="inline"><span>KIPO</span></span>) announced today that the Company completed the disposition of its entire position in LifeLock, Inc. on May 2, 2013. In total, the Company generated approximately $3.7 million of net realized gains from its LifeLock investment, or approximately $0.40 for each Keating Capital share currently outstanding. As of March 31, 2013, the Company’s net asset value per share was $8.00.</p>
<p>Keating Capital received total proceeds of $8.7 million from the sale of its LifeLock position (after selling expenses), compared to a fair value of $9.1 million as of March 31, 2013, and a cost of $5.0 million. The shares of LifeLock common stock sold by Keating Capital were received upon the conversion of LifeLock’s Series E Convertible Preferred Stock, which Keating Capital initially acquired on March 14, 2012. The Series E round raised over $100 million from Keating Capital and other co-investors, including Bessemer Venture Partners, Goldman, Sachs &amp; Co., Kleiner Perkins Caufield &amp; Byers, and Symantec Corporation.</p>
<p>The Company’s sale of its entire LifeLock position represented a return multiple of 1.74x its investment cost over a holding period of 1.1 years. This represents an internal rate of return, or IRR, on this investment of approximately 66% per year.</p>
<p>The Company’s Board of Directors currently intends to declare a distribution of at least 90% of the LifeLock realized gains, subject to any gains or losses realized on other portfolio company investments. At the Company’s next quarterly Board meeting scheduled for July 25, 2013, the Company expects that the Board will take further action concerning the distribution of the LifeLock realized gains.</p>
<p>“The LifeLock investment was an unqualified success for us and a case study of how we believe our private-to-public valuation arbitrage model is expected to work,” stated Timothy J. Keating, CEO of Keating Capital. “We invested in a growing, category leading, high profile company alongside a number of top tier venture capital firms, many of whom we have co-invested with in the past. The investment size of $5 million was our largest at the time and one of four of equal size that we have made. The 1.74x return multiple we achieved over of a holding period of 1.1 years was in line with our targeted 2x return multiple over our anticipated four-year holding period,” added Mr. Keating.</p>
<p>LifeLock was the Company’s third out of 20 portfolio company investments to complete its IPO, and the sale of the LifeLock position is the second complete exit for Keating Capital.</p>
<p>About Keating Capital, Inc.</p>
<p>Keating Capital is a business development company that specializes in making pre-IPO investments in innovative, emerging growth companies that are committed to and capable of becoming public. We provide investors with the ability to participate in a <a class="inline" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fkeatingcapital.com%2Finvestor-relations%2Finvestors%2F&amp;esheet=50625362&amp;lan=en-US&amp;anchor=unique+fund&amp;index=2&amp;md5=217d8d249bb20ec4cd8235ef4c83bb9e"><span>unique fund</span></a> that allows our stockholders to share in the potential value accretion that we believe typically occurs once a company transforms from private to public status. Keating Capital’s shares are listed on Nasdaq under the ticker symbol “KIPO.”</p>
<p>To be added to Keating Capital’s email distribution list to receive quarterly newsletters and other announcements, go to <a class="inline" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.KeatingCapital.com%2Fcontact&amp;esheet=50625362&amp;lan=en-US&amp;anchor=www.KeatingCapital.com%2Fcontact&amp;index=3&amp;md5=49279b202225a94785ab733d57560f30"><span>www.KeatingCapital.com/contact</span></a>.</p>
<p>Forward-Looking Statements</p>
<p>This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect Keating Capital’s current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release, including the factors set forth in “Risk Factors” set forth in Keating Capital’s Form 10-K and Form 10-Q filed with the Securities and Exchange Commission (“SEC”), and subsequent filings with the SEC. Please refer to Keating Capital’s SEC filings for a more detailed discussion of the risks and uncertainties associated with its business, including but not limited to the risks and uncertainties associated with investing in micro- and small-cap companies. Except as required by the federal securities laws, Keating Capital undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. The reference to Keating Capital’s website has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.</p>
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		<title>Inland Diversified REIT Update</title>
		<link>http://feedproxy.google.com/~r/RichmondBrothersInc/~3/cl7_cL89UoI/inland-diversified-reit-update</link>
		<comments>http://www.richmondbrothers.com/inland-diversified-reit-update#comments</comments>
		<pubDate>Wed, 08 May 2013 19:09:19 +0000</pubDate>
		<dc:creator>Admin</dc:creator>
				<category><![CDATA[Holdings]]></category>
		<category><![CDATA[Inland American]]></category>
		<category><![CDATA[Notices - Inland American]]></category>

		<guid isPermaLink="false">http://www.richmondbrothers.com/?p=49457</guid>
		<description><![CDATA[  Monthly Distribution Letter (May 1, 2013) Q1 2013 Earnings Webcast &#8211; May 30, 2013 &#8211; 2:00 PM CT Reminder:  The annual meeting will be held on Wednesday, June 12, 2013, at the Inland Corporate Office, 2901 Butterfield Road, Oak Brook, Illinois, commencing at 10:00 AM CT.   For further information, contact Inland Investor Services at 800.826.8228 [...]]]></description>
			<content:encoded><![CDATA[<p>  </p>
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<li class="MsoNormal" style="color: #3c3c3c; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; mso-list: l0 level1 lfo1; tab-stops: list .5in;"><strong></strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; mso-fareast-font-family: 'Times New Roman';"><a href="http://clicks.skem1.com/trkr/?c=4593&amp;g=5858&amp;p=f0e40e86b11a70f6cad9da9071de8759&amp;u=dd26802757da8c6a3f8155990e54e9a5&amp;q=&amp;t=1">Q1 2013 Earnings Webcast &#8211; May 30, 2013 &#8211; 2:00 PM CT</a> </span></li>
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<p style="margin-bottom: 12.0pt;"><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: #3c3c3c;">Reminder</span></strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: #3c3c3c;">:  The annual meeting will be held on Wednesday, June 12, 2013, at the Inland Corporate Office, 2901 Butterfield Road, Oak Brook, Illinois, commencing at 10:00 AM CT.</span></p>
<p style="margin-bottom: 12.0pt;"> </p>
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<p><![endif]--><span style="font-size: 8.5pt; font-family: 'Arial','sans-serif'; color: #888888;">This is neither an offer to sell nor a solicitation of an offer to buy any security, which can only be made by a prospectus which has been filed with the appropriate state and federal regulatory agencies and sold only by broker dealers authorized to do so.</p>
<p> The Inland name and logo are registered trademarks being used under license. This material has been distributed by Inland Securities Corporation, dealer manager for Inland Diversified Real Estate Trust, Inc. Inland Securities Corporation, member FINRA/SIPC.</span></p>
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		<title>Rockwell Medical Schedules 1st Quarter 2013 Investor Conference Call</title>
		<link>http://feedproxy.google.com/~r/RichmondBrothersInc/~3/myeTiYod0Mk/rockwell-medical-schedules-1st-quarter-2013-investor-conference-call</link>
		<comments>http://www.richmondbrothers.com/rockwell-medical-schedules-1st-quarter-2013-investor-conference-call#comments</comments>
		<pubDate>Wed, 08 May 2013 14:07:50 +0000</pubDate>
		<dc:creator>Admin</dc:creator>
				<category><![CDATA[Holdings]]></category>
		<category><![CDATA[Press Releases - Rockwell Medical]]></category>
		<category><![CDATA[Rockwell Medical]]></category>

		<guid isPermaLink="false">http://www.richmondbrothers.com/?p=49451</guid>
		<description><![CDATA[WIXOM, MI &#8212; (Marketwired) &#8212; 05/03/13 &#8212; Rockwell Medical, Inc. (NASDAQ: RMTI), a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis, announced today that it will hold its quarterly conference call to discuss first quarter [...]]]></description>
			<content:encoded><![CDATA[<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">WIXOM, MI &#8212; (Marketwired) &#8212; 05/03/13 &#8212; Rockwell Medical, Inc. (NASDAQ: RMTI), a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis, announced today that it will hold its quarterly conference call to discuss first quarter results on Wednesday, May 8, 2013 at 4:30pm Eastern Time. The Company plans to release results after market close the same day.</span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">This call is also being webcast and can be accessed at the Rockwell Medical IR web page. You can join this call on:</span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Wednesday, May 8, 2013<br /> Starting at 4:30pm EDT<br /> Dial in number: 877-383-7438<br /> International dial in: 678-894-3975<br /> Passcode: 64250555<br /> Webcast: <a href="http://ir.rockwellmed.com/">http://ir.rockwellmed.com</a></span></p>
<p style="line-height: 12.0pt;"><em><strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">About Rockwell Medical</span></strong></em><strong><em><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;"><br /> </span></em></strong><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell Medical is a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell&#8217;s lead drug candidate in late-stage clinical development is for the treatment of iron deficiency in dialysis patients and is called Soluble Ferric Pyrophosphate (SFP). SFP delivers iron to the bone marrow of dialysis patients in a non-invasive, physiologic manner via dialysate during their regular dialysis treatment. In completed clinical trials to date, SFP has demonstrated that it can safely deliver sufficient iron to the bone marrow. SFP is nearing completion of its Phase 3 clinical studies (CRUISE-1 and CRUISE-2) and is expected to address an estimated $600M U.S. market. </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell is preparing to launch its FDA approved generic drug called Calcitriol to treat secondary hyperparathyroidism in dialysis patients. Calcitriol active vitamin D injection is indicated in the management of hypocalcemia in patients undergoing chronic renal dialysis. It has been shown to significantly reduce elevated parathyroid hormone levels. Reduction of PTH has been shown to result in an improvement in renal osteodystrophy. Rockwell intends to launch Calcitriol as soon as it receives FDA manufacturing approval, addressing an estimated $350M U.S. market. </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell is also an established manufacturer and leader in delivering high-quality hemodialysis concentrates/dialysates to dialysis providers and distributors in the U.S. and abroad. As one of the two major suppliers in the U.S., Rockwell&#8217;s products are used to maintain human life by removing toxins and replacing critical nutrients in the dialysis patient&#8217;s bloodstream. Rockwell has three manufacturing and distribution facilities located in the U.S. and its operating infrastructure is a ready-made sales and distribution channel that is able to provide seamless integration into the commercial market for its drug products, Calcitriol and SFP upon FDA market approval. </span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Rockwell&#8217;s exclusive renal drug therapies support disease management initiatives to improve the quality of life and care of dialysis patients and are intended to deliver safe and effective therapy, while decreasing drug administration costs and improving patient convenience. Rockwell Medical is developing a pipeline of drug therapies, including extensions of SFP for indications outside of hemodialysis. Please visit <a href="http://www.rockwellmed.com/">www.rockwellmed.com</a> for more information. For a demonstration of SFP&#8217;s unique mechanism of action in delivering iron via dialysate, please view the animation video at <a href="http://www.rockwellmed.com/collateral/documents/english-us/mode-of-action.html">http://www.rockwellmed.com/collateral/documents/english-us/mode-of-action.html</a>.</span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Certain statements in this press release constitute &#8220;forward-looking statements&#8221; within the meaning of the federal securities laws, including, but not limited to, Rockwell&#8217;s intention to launch Calcitriol and SFP following FDA approval. Words such as &#8220;may,&#8221; &#8220;might,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;believe,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;continue,&#8221; &#8220;predict,&#8221; &#8220;forecast,&#8221; &#8220;project,&#8221; &#8220;plan&#8221;, &#8220;intend&#8221; or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While Rockwell Medical believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in Rockwell Medical&#8217;s SEC filings. Thus, actual results could be materially different. Rockwell Medical expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.</span></p>
<p style="line-height: 12.0pt;"><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; color: black;">Contact:<br /> Michael Rice<br /> Investor Relations<br /> (646) 597-6979</span></p>
<p>David Connolly<br /> Media Contact<br /> (617) 374-8800</p>
<p><span style="font-size: 9.0pt; font-family: 'Arial','sans-serif'; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; color: black; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Source: Rockwell Medical Technologies, Inc. </span></p>
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		<title>Keating Capital Reports Q1 2013 Results</title>
		<link>http://feedproxy.google.com/~r/RichmondBrothersInc/~3/Ueoky5FCJHY/keating-capital-reports-q1-2013-results-2</link>
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		<pubDate>Wed, 01 May 2013 14:01:24 +0000</pubDate>
		<dc:creator>Admin</dc:creator>
				<category><![CDATA[Holdings]]></category>
		<category><![CDATA[Keating Capital]]></category>
		<category><![CDATA[Press Releases - Keating Capital]]></category>

		<guid isPermaLink="false">http://www.richmondbrothers.com/?p=49448</guid>
		<description><![CDATA[April 29, 2013 &#8211; Greenwood Village, Colorado &#8211; On April 29, 2013, Keating Capital, Inc. (&#8220;Keating&#8221; or the &#8220;Company&#8221;) (Nasdaq: KIPO) reported financial results for the quarter ended March 31, 2013. Management Commentary &#8220;Although we made no additional investments in the first quarter, we have sold about 74% of our LifeLock shares since first quarter-end [...]]]></description>
			<content:encoded><![CDATA[<p><strong>April 29, 2013</strong> &#8211; Greenwood Village, Colorado &#8211; On April 29, 2013, <a href="http://cts.vresp.com/c/?KeatingInvestmentsLL/fe449d1ff1/428eb4c138/073a825240">Keating Capital, Inc.</a> (&#8220;Keating&#8221; or the &#8220;Company&#8221;) (Nasdaq: KIPO) reported financial results for the quarter ended March 31, 2013.</p>
<p><strong>Management Commentary</strong></p>
<p>&#8220;Although we made no additional investments in the first quarter, we have sold about 74% of our LifeLock shares since first quarter-end through April 25, 2013 resulting in approximately $2.7 million of net realized gains. Based on 9,132,222 shares of our common stock outstanding as of March 31, 2013, these LifeLock realized gains represent approximately $0.30 per share. Our Board currently intends to declare a distribution of at least 90% of our LifeLock realized gains, subject to any gains or losses realized on other portfolio company investments. At our next quarterly Board meeting scheduled for July 25, 2013, we expect that our Board will take further action concerning the distribution of our LifeLock realized gains following the disposition of our entire LifeLock position. These realized gains, as well as any further dispositions we may make during the second quarter, will be reflected in our second quarter financial results,&#8221; stated Timothy J. Keating, CEO of Keating Capital, Inc.</p>
<p>Click <a href="http://cts.vresp.com/c/?KeatingInvestmentsLL/fe449d1ff1/428eb4c138/5d4e47fafd/ReleaseID=759967">here</a> to read the complete press release.</p>
<p><strong><span style="text-decoration: underline;">About Keating Capital, Inc.</span></strong></p>
<p><a href="http://cts.vresp.com/c/?KeatingInvestmentsLL/fe449d1ff1/428eb4c138/aa784b5ee1">Keating Capital</a> is a business development company that specializes in making pre-IPO investments in innovative, emerging growth companies that are committed to and capable of becoming public. We provide investors with the ability to participate in a unique fund that allows our stockholders to share in the potential value accretion that we believe typically occurs once a company transforms from private to public status. Keating Capital&#8217;s shares are listed on Nasdaq under the ticker symbol &#8220;KIPO.&#8221;</p>
<p><strong><em>Forward-Looking Statements</em></strong></p>
<p><em>This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect Keating Capital&#8217;s current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release, including the factors set forth in &#8220;Risk Factors&#8221; set forth in Keating Capital&#8217;s Form 10-K and Form 10-Q filed with the Securities and Exchange Commission (&#8220;SEC&#8221;), and subsequent filings with the SEC. Please refer to Keating Capital&#8217;s SEC filings for a more detailed discussion of the risks and uncertainties associated with its business, including but not limited to the risks and uncertainties associated with investing in micro- and small-cap companies. Except as required by the federal securities laws, Keating Capital undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. The reference to Keating Capital&#8217;s website has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release. </em></p>
<p>&nbsp;</p>
<p align="center"><strong>Investor Relations Contact:</strong><br />Margie L. Blackwell<br />Investor Relations Director<br />Keating Capital, Inc.<br /><a href="mailto:mb@keatinginvestments.com">mb@keatinginvestments.com</a><br />(720) 889-0133</p>
<p>&nbsp;</p>
<p>Keating Capital, Inc. (&#8220;Keating Capital&#8221;) is a Maryland corporation that has elected to be regulated as a business development company under the Investment Company Act of 1940. Keating Investments, LLC (&#8220;Keating Investments&#8221;) is an SEC registered investment adviser and acts as an investment adviser and receives base management and/or incentive fees from Keating Capital. Keating Investments and its affiliates, control persons, and related individuals or entities may invest in the businesses or securities of the companies for whom Keating Capital provides managerial assistance in connection with its investments. Investment advisory services are provided by Keating Investments. Keating Investments and Keating Capital operate under the generic name of Keating.</p>
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		<title>Tara Minerals Begins Metallurgical Testing at Ponderosa</title>
		<link>http://feedproxy.google.com/~r/RichmondBrothersInc/~3/_fQGD-QW_5k/tara-minerals-begins-metallurgical-testing-at-ponderosa</link>
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		<pubDate>Tue, 30 Apr 2013 14:27:24 +0000</pubDate>
		<dc:creator>Admin</dc:creator>
				<category><![CDATA[Holdings]]></category>
		<category><![CDATA[Press Releases - Tara Minerals]]></category>
		<category><![CDATA[Tara Minerals]]></category>

		<guid isPermaLink="false">http://www.richmondbrothers.com/?p=49442</guid>
		<description><![CDATA[ HENDERSON, NV &#8212; (Marketwired) &#8212; 04/30/13 &#8212; Tara Minerals Corp. (OTCQB: TARM) (BERLIN: 6T3) is pleased to announce that is has taken a 3.5 tonne sample, from the Ponderosa Project, for metallurgical testing work by an independent lab. The sample was taken from the same vein as the pits 3-6 channel samples. The head grade [...]]]></description>
			<content:encoded><![CDATA[<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"> <span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">HENDERSON, NV &#8212; (Marketwired) &#8212; 04/30/13 &#8212; Tara Minerals Corp. (OTCQB: TARM) (BERLIN: 6T3) is pleased to announce that is has taken a 3.5 tonne sample, from the Ponderosa Project, for metallurgical testing work by an independent lab. The sample was taken from the same vein as the pits 3-6 channel samples. The head grade assay, from this part of the vein, returned 0.77 oz/t gold. The material was prepared for assay in a manner that minimizes the effect of gold nuggets, which can be found in this vein. The purpose of the test work is to characterize the gold occurrence and to outline processing options that maximize gold recovery. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Mr. Tom Claridge, Senior Mining and Plant Engineer, stated, &#8220;Steve Eady, our Chief Geologist, and I continue to systematically assess the project and its potential. Once the metallurgical work is completed, we will test the processing options outlined. The results to date continue to be encouraging.&#8221; </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">The Ponderosa Project consists of 6,721 acres of both patented and unpatented mining claims in central Idaho, USA. The optioned claims include previously mined veins with historic sampling of the exposed outcrops averaging 14 grams/tonne gold. Tara&#8217;s initial focus is to assess the previously un-mined veins for their near-term production potential. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">About Tara Minerals Corp. (<a href="http://ctt.marketwire.com/?release=1012175&amp;id=2921830&amp;type=1&amp;url=http%3a%2f%2fwww.taraminerals.com%2f">http://www.TaraMinerals.com</a>) </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Tara currently has 100% ownership in over 39 square miles (25,770 acres) in the Don Roman district located in the northern part of the La Reforma Mining District of northeastern Sinaloa State, Mexico. Tara Minerals Corp. is focused on prioritizing and the delineation of an estimated 70+ Don Roman Gold, Silver, Zinc, and Lead mineralized structures for 2013 production. Management is creating long-term shareholder value and deploying its capital to advance its projects by enhancing resources, further outlining new discoveries/targets, and acquiring additional strategic assets. The sale of the Picacho Gold/Silver project, to Yamana Gold, brought an initial payment of $7.5 million, with a second payment of $9.8 million due in May 2013. Tara&#8217;s strength in recognizing value early and strategy of reducing risk through a foundation of cash flow, positions it for low-risk value creation. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the Company&#8217;s control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company&#8217;s filings with the Securities and Exchange Commission. Please read the full disclaimer at <a href="http://ctt.marketwire.com/?release=1012175&amp;id=2921833&amp;type=1&amp;url=http%3a%2f%2fwww.taraminerals.com%2f">www.TaraMinerals.com</a> (<a href="http://ctt.marketwire.com/?release=1012175&amp;id=2921836&amp;type=1&amp;url=http%3a%2f%2ftaraminerals.com%2fEnglish%2fGeneral%2fDisclaimer%2fdefault.aspx">http://taraminerals.com/English/General/Disclaimer/default.aspx</a>). </span></p>
<p class="MsoNormal"><span style="font-size: 10.0pt; font-family: 'Courier New';">Contact:</span></p>
<p class="MsoNormal"><span style="font-size: 10.0pt; font-family: 'Courier New';">David Barefoot</span></p>
<p class="MsoNormal"><span style="font-size: 10.0pt; font-family: 'Courier New';">(888) 901-4550</span></p>
<p class="MsoNormal"><span style="font-size: 10.0pt; font-family: 'Courier New';">Email Contact</span></p>
<p class="MsoNormal"><span style="font-size: 10.0pt; font-family: 'Courier New';"> </span></p>
<p><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Source: Tara Minerals Corp.</span></p>
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		<title>Medical Properties Trust, Inc. Reports 39% Increase in Normalized FFO Per Share in First Quarter 2013</title>
		<link>http://feedproxy.google.com/~r/RichmondBrothersInc/~3/NjCzDb-rScA/medical-properties-trust-inc-reports-39-increase-in-normalized-ffo-per-share-in-first-quarter-2013</link>
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		<pubDate>Fri, 26 Apr 2013 13:29:34 +0000</pubDate>
		<dc:creator>Admin</dc:creator>
				<category><![CDATA[Holdings]]></category>
		<category><![CDATA[Medical Properties Trust]]></category>
		<category><![CDATA[Press Releases - Medical Properties Trust]]></category>

		<guid isPermaLink="false">http://www.richmondbrothers.com/?p=49437</guid>
		<description><![CDATA[&#160; Net Income Increases 148% Over 2012’s First Quarter BIRMINGHAM, Ala.&#8211;(BUSINESS WIRE)&#8211;Apr. 26, 2013&#8211; Medical Properties Trust, Inc. (the “Company”) (NYSE: MPW) today announced financial and operating results for the first quarter ended March 31, 2013. FIRST QUARTER AND RECENT HIGHLIGHTS Achieved first quarter Normalized Funds from Operations (“FFO”) per diluted share of $0.25, up [...]]]></description>
			<content:encoded><![CDATA[<p>&nbsp;</p>
<table class="MsoNormalTable" style="width: 100.0%; mso-cellspacing: .7pt; mso-yfti-tbllook: 1184; mso-padding-alt: 0in 0in 0in 0in;" border="0" cellspacing="1" cellpadding="0">
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<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><em><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Net Income Increases 148% Over 2012’s First Quarter</span></em></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">BIRMINGHAM, Ala.&#8211;(BUSINESS WIRE)&#8211;Apr. 26, 2013&#8211; Medical Properties Trust, Inc. (the “Company”) (NYSE: MPW) today announced financial and operating results for the first quarter ended March 31, 2013. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">FIRST QUARTER AND RECENT HIGHLIGHTS</span></strong></p>
<ul type="disc">
<li class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; mso-list: l0 level1 lfo3; tab-stops: list .5in;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman';">Achieved first quarter Normalized Funds from Operations (“FFO”) per diluted share of $0.25, up 39% compared with $0.18 per diluted share reported in the first quarter of 2012; </span></li>
<li class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; mso-list: l0 level1 lfo3; tab-stops: list .5in;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman';">Issued 12,650,000 shares of stock for $14.25 per share reflecting an increase of 46% in value over the prior share offering in February 2012; </span></li>
<li class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; mso-list: l0 level1 lfo3; tab-stops: list .5in;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman';">Further strengthened balance sheet with nearly $500 million in liquidity for near-term acquisitions; </span></li>
<li class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; mso-list: l0 level1 lfo3; tab-stops: list .5in;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman';">Paid 2013 first quarter cash dividend of $0.20 per share, resulting in a dividend payout ratio of a very well-covered 80% of Normalized FFO; and </span></li>
<li class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; mso-list: l0 level1 lfo3; tab-stops: list .5in;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman';">Subsequent to the first quarter, sold two long-term acute care hospitals, for an expected gain of approximately $2.1 million. </span></li>
</ul>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Included in the financial tables accompanying this press release is information about the Company’s assets and liabilities, net income and reconciliations of net income to FFO and AFFO, all on a comparable basis to 2012 periods. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">“Medical Properties Trust remains the only healthcare REIT focused exclusively on funding hospitals and other related facilities, and our first quarter results demonstrate the power of this strategy,” said Edward K. Aldag, Jr., Chairman, President and CEO of Medical Properties Trust. “Over the past 10 years, we have invested approximately $3.0 billion in 101 transactions with an average first year cap rate of approximately 10%. Recently, we have delivered four consecutive quarters of year-over-year normalized FFO per share growth as well as a strong, stable and well-covered dividend. During the first quarter we raised $173 million through an offering of 12.65 million common shares, which, when combined with our revolving credit facility, provides us with nearly $500 million in immediately available resources to continue to acquire hospital real estate with double digit long-term returns. We are delighted with our results and look forward to continued success.” </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">OPERATING RESULTS</span></strong></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">First quarter 2013 total revenues increased 42% to $58.4 million compared with $41.3 million for the first quarter of 2012. Normalized FFO for the quarter increased 55% to $34.8 million compared with $22.5 million in the first quarter of 2012. Per share Normalized FFO increased 39% to $0.25 per diluted share in the 2013 first quarter, compared with $0.18 per diluted share in the first quarter of 2012. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Net income for the first quarter of 2013 was $26.2 million (or $0.18 per diluted share) compared with net income of $10.6 million (or $0.08 per diluted share) in the first quarter of 2012. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">PORTFOLIO UPDATE AND FUTURE OUTLOOK</span></strong></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Since January 1, 2013, the Company has agreed to fund the construction of a rehabilitation hospital in Post Falls, ID for $14.4 million. In addition, in April 2013 the Company sold two long-term acute care hospitals in Arizona and Texas where leases had expired to their operators for total proceeds of $18.5 million. The Company expects to realize a gain on these two sales of approximately $2.1 million in the second quarter of 2013 and estimates that its investment in these two properties generated an unlevered internal rate of return of 10.3%. There are no other lease expirations in 2013. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">At March 31, 2013, the Company had total real estate and related investments of approximately $2.1 billion comprised of 83 healthcare properties in 25 states leased or loaned to 24 hospital operating companies. The Company continues to believe that acquisition volume and timing, along with current capital market conditions, will generate Normalized FFO per share in 2013 of $1.10. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Guidance estimates do not include the effects, if any, of real estate operating costs, litigation costs, debt refinancing costs, acquisition costs, interest rate hedging activities, write-offs of straight-line rent or other non-recurring or unplanned transactions. These estimates will change if the Company acquires assets totaling more or less than its expectations, the timing of acquisitions varies from expectations, capitalization rates vary from expectations, market interest rates change, debt is refinanced, new shares are issued, additional debt is incurred, assets are sold, other operating expenses vary, income from investments in tenant operations vary from expectations, or existing leases do not perform in accordance with their terms. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">CONFERENCE CALL AND WEBCAST</span></strong></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">The Company has scheduled a conference call and webcast for Friday, April 26, 2013 at 11:00 a.m. Eastern Time to present the Company’s financial and operating results for the quarter ended March 31, 2013. The dial-in telephone numbers for the conference call 866-515-2910 (U.S.) and 617-399-5124 (International); using passcode 53605329. The conference call will also be available via webcast in the Investor Relations’ section of the Company’s website, <a href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.medicalpropertiestrust.com&amp;esheet=50619051&amp;lan=en-US&amp;anchor=www.medicalpropertiestrust.com&amp;index=1&amp;md5=d1f7d7d7eb50077c81c6d72ccb714760">www.medicalpropertiestrust.com</a>. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">A telephone and webcast replay of the call will be available from shortly after the completion of the call through May 10, 2013. Telephone numbers for the replay are 888-286-8010 and 617-801-6888 for U.S. and International callers, respectively. The replay passcode is 36151225. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">The Company’s supplemental information package for the current period will also be available on the Company’s website under the “Investor Relations” section. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">About Medical Properties Trust, Inc.</span></strong></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Medical Properties Trust, Inc. is a Birmingham, Alabama based self-advised real estate investment trust formed to capitalize on the changing trends in healthcare delivery by acquiring and developing net-leased healthcare facilities. These facilities include inpatient rehabilitation hospitals, long-term acute care hospitals, regional acute care hospitals, ambulatory surgery centers and other single-discipline healthcare facilities. For more information, please visit the Company’s website at <a href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.medicalpropertiestrust.com&amp;esheet=50619051&amp;lan=en-US&amp;anchor=www.medicalpropertiestrust.com&amp;index=2&amp;md5=3080deecc8b3a444bfd26a4b448a231e">www.medicalpropertiestrust.com</a>. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><em><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">The statements in this press release that are forward looking are based on current expectations and actual results or future events may differ materially. Words such as &#8220;expects,&#8221; &#8220;believes,&#8221; &#8220;anticipates,&#8221; &#8220;intends,&#8221; &#8220;will,&#8221; &#8220;should” and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results of the Company or future events to differ materially from those expressed in or underlying such forward-looking statements, including without limitation: the capacity of the Company’s tenants to meet the terms of their agreements; Normalized FFO per share; expected payout ratio, the amount of acquisitions of healthcare real estate, if any; capital markets conditions, the repayment of debt arrangements; statements concerning the additional income to the Company as a result of ownership interests in certain hospital operations and the timing of such income;</span></em><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';"> <em>the restructuring of the Company’s investments in non-revenue producing properties; the payment of future dividends, if any; completion of additional debt arrangement, and additional investments; national and economic, business, real estate and other market conditions; the competitive environment in which the Company operates; the execution of the Company&#8217;s business plan; financing risks; the Company&#8217;s ability to maintain its status as a REIT for federal income tax purposes; acquisition and development risks; potential environmental and other liabilities; and other factors affecting the real estate industry generally or healthcare real estate in particular. For further discussion of the factors that could affect outcomes, please refer to the &#8220;Risk factors&#8221; section of the Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2012, and as updated by the Company’s subsequently filed Quarterly Reports on Form 10-Q and other SEC filings. Except as otherwise required by the federal securities laws, the Company undertakes no obligation to update the information in this press release.</em> </span></p>
<table class="MsoNormalTable" style="mso-cellspacing: 0in; mso-yfti-tbllook: 1184; mso-padding-alt: 0in 0in 0in 0in;" border="0" cellspacing="0" cellpadding="0">
<tbody>
<tr style="mso-yfti-irow: 0; mso-yfti-firstrow: yes;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">MEDICAL PROPERTIES TRUST, INC. AND SUBSIDIARIES</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 2;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 3;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Consolidated Balance Sheets </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 4;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 5;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">March 31, 2013 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">December 31, 2012 </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 6;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Assets</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(Unaudited) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(A) </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 7;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Real estate assets </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
</tr>
<tr style="mso-yfti-irow: 8;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Land, buildings and improvements, and intangible lease assets </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,280,194,338 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,242,375,982 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 9;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Construction in progress and other </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">13,719,055 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">38,338,985 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 10;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Net investment in direct financing leases </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">315,638,905 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">314,411,549 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 11;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Mortgage loans </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">368,650,000 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">368,650,000 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 12;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Gross investment in real estate assets </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,978,202,298 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,963,776,516 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 13;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Accumulated depreciation and amortization </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(135,380,788 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(126,733,639 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 14;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Net investment in real estate assets </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,842,821,510 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,837,042,877 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 15;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 16;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Cash and cash equivalents </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">75,675,211 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">37,311,207 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 17;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Interest and rent receivable </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">49,838,480 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">47,586,709 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 18;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Straight-line rent receivable </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">38,560,795 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">35,859,703 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 19;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Other assets </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">220,299,834 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">221,085,156 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 20;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Total Assets</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">2,227,195,830</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">2,178,885,652</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 21;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 22;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Liabilities and Equity</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
</tr>
<tr style="mso-yfti-irow: 23;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Liabilities </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
</tr>
<tr style="mso-yfti-irow: 24;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Debt, net </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">900,133,586 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,025,159,854 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 25;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Accounts payable and accrued expenses </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">65,620,577 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">65,960,792 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 26;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Deferred revenue </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">19,384,238 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">20,609,467 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 27;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Lease deposits and other obligations to tenants </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">20,487,269 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">17,341,694 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 28;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Total liabilities </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,005,625,670 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,129,071,807 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 29;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 30;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Equity </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
</tr>
<tr style="mso-yfti-irow: 31;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Preferred stock, $0.001 par value. Authorized 10,000,000 shares; no shares outstanding </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">- </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">- </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 32;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Common stock, $0.001 par value. Authorized 250,000,000 shares; issued and outstanding &#8211; 149,141,049 shares at March 31, 2013 and 136,335,427 shares at December 31, 2012 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">149,141 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">136,336 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 33;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Additional paid in capital </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,470,736,814 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,295,916,192 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 34;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Distributions in excess of net income </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(237,398,195 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(233,494,130 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 35;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Accumulated other comprehensive income (loss) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(11,655,257 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(12,482,210 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 36;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Treasury shares, at cost </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(262,343 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(262,343 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 37;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Total Equity </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,221,570,160 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,049,813,845 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 38;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 39;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Total Liabilities and Equity</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">2,227,195,830</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">2,178,885,652</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 40;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 41;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 42;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 43;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 44;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(A) Financials have been derived from the prior year audited financials. </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 45; mso-yfti-lastrow: yes;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
</tbody>
</table>
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif'; display: none; mso-hide: all;"> </span></p>
<table class="MsoNormalTable" style="mso-cellspacing: 0in; mso-yfti-tbllook: 1184; mso-padding-alt: 0in 0in 0in 0in;" border="0" cellspacing="0" cellpadding="0">
<tbody>
<tr style="mso-yfti-irow: 0; mso-yfti-firstrow: yes;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">MEDICAL PROPERTIES TRUST, INC. AND SUBSIDIARIES</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 2;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 3;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Consolidated Statements of Income </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 4;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(Unaudited) </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 5;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 6;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="7">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">For the Three Months Ended </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 7;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">March 31, 2013 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">March 31, 2012 </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 8;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(A)</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 9;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Revenues</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
</tr>
<tr style="mso-yfti-irow: 10;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Rent billed </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">32,306,305 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">30,151,892 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 11;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Straight-line rent </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">2,660,994 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,359,093 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 12;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Income from direct financing leases </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">8,756,471 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,835,161 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 13;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Interest and fee income </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">14,716,820 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">7,921,420 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 14;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Total revenues </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">58,440,590 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">41,267,566 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 15;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Expenses</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
</tr>
<tr style="mso-yfti-irow: 16;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Real estate depreciation and amortization </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">8,647,150 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">8,293,131 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 17;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Property-related </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">415,339 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">227,270 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 18;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Acquisition expenses </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">190,549 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">3,425,012 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 19;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">General and administrative </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">7,818,196 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">7,591,555 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 20;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Total operating expenses </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">17,071,234 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">19,536,968 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 21;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Operating income </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">41,369,356 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">21,730,598 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 22;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 23;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Interest and other income (expense) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(15,157,366 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(12,811,119 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 24;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Income from continuing operations</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">26,211,990 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">8,919,479 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 25;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Income (loss) from discontinued operations </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(1,865 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,686,749 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 26;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Net income </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">26,210,125 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">10,606,228 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 27;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Net income attributable to non-controlling interests </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(53,633 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(42,358 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 28;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Net income attributable to MPT common stockholders</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">26,156,492</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">10,563,870</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 29;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 30;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 31;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Earnings per common share &#8211; basic :</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
</tr>
<tr style="mso-yfti-irow: 32;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Income from continuing operations</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.19</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.07</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 33;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Income from discontinued operations</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">-</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.01</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 34;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Net income attributable to MPT common stockholders</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.19</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.08</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 35;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 36;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Earnings per common share &#8211; diluted:</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
</tr>
<tr style="mso-yfti-irow: 37;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Income from continuing operations</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.18</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.07</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 38;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Income from discontinued operations</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">-</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.01</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 39;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Net income attributable to MPT common stockholders</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.18</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.08</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 40;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 41;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Dividends declared per common share</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.20</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.20</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 42;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">. </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 43;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 44;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Weighted average shares outstanding &#8211; basic</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">140,346,579</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">124,906,358</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 45;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Weighted average shares outstanding &#8211; diluted</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">141,526,311</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">124,906,358</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 46;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 47;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 48;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(A) </span></strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Financials have been restated to reclass the operating results of certain properties sold in 2012 to discontinued operations. </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 49; mso-yfti-lastrow: yes;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
</tbody>
</table>
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif'; display: none; mso-hide: all;"> </span></p>
<table class="MsoNormalTable" style="mso-cellspacing: 0in; mso-yfti-tbllook: 1184; mso-padding-alt: 0in 0in 0in 0in;" border="0" cellspacing="0" cellpadding="0">
<tbody>
<tr style="mso-yfti-irow: 0; mso-yfti-firstrow: yes;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">MEDICAL PROPERTIES TRUST, INC. AND SUBSIDIARIES</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 2;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Reconciliation of Net Income to Funds From Operations</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 3;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(Unaudited) </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 4;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 5;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 6;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="7">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">For the Three Months Ended </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 7;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">March 31, 2013 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">March 31, 2012 </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 8;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(A)</span></strong></p>
</td>
</tr>
<tr style="mso-yfti-irow: 9;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">FFO information:</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
</tr>
<tr style="mso-yfti-irow: 10;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Net income attributable to MPT common stockholders </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">26,156,492 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">10,563,870 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 11;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Participating securities&#8217; share in earnings </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(193,062 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(251,867 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 12;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Net income, less participating securities&#8217; share in earnings </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">25,963,430 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">10,312,003 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 13;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 14;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Depreciation and amortization: </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
</tr>
<tr style="mso-yfti-irow: 15;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Continuing operations </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">8,647,150 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">8,293,131 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 16;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Discontinued operations </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">- </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">453,342 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 17;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Funds from operations </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">34,610,580 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">19,058,476 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 18;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 19;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Acquisition costs </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">190,549 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">3,425,012 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 20;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Normalized funds from operations </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">34,801,129 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">22,483,488 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 21;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 22;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Share-based compensation </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,918,855 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">1,858,456 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 23;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Debt costs amortization </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">896,732 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">855,382 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 24;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Additional rent received in advance (B) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(300,000 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(300,000 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 25;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Straight-line rent revenue and other </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(3,892,628 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(1,733,696 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 26;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Adjusted funds from operations </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">33,424,088</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">23,163,630</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 27;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 28;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 29;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 30;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Per diluted share data:</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
</tr>
<tr style="mso-yfti-irow: 31;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Net income, less participating securities&#8217; share in earnings </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.18 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.08 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 32;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Depreciation and amortization: </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
</tr>
<tr style="mso-yfti-irow: 33;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Continuing operations </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.06 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.07 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 34;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Discontinued operations </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">- </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">- </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 35;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Funds from operations </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.24 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$ </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.15 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 36;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 37;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Acquisition costs </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.01 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.03 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 38;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Normalized funds from operations </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.25</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.18</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 39;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 40;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Share-based compensation </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.01 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.01 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 41;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Debt costs amortization </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.01 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.01 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 42;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Additional rent received in advance (B) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">- </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">- </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
</tr>
<tr style="mso-yfti-irow: 43;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Straight-line rent revenue and other </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(0.03 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(0.01 </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">) </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 44;">
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Adjusted funds from operations </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.24</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">$</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">0.19</span></strong></p>
</td>
<td style="padding: .75pt .75pt .75pt .75pt;">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 45;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 46;">
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;"> </td>
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="3">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 47;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(A) </span></strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Financials have been restated to reclass the operating results of certain properties sold in 2012 to discontinued operations. </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 48;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 49;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">(B) </span></strong><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Represents additional rent from one tenant in advance of when we can recognize as revenue for accounting purposes. This additional rent is being recorded to revenue on a straight-line basis over the lease life. </span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 50; mso-yfti-lastrow: yes;">
<td style="padding: .75pt .75pt .75pt .75pt;" colspan="10">
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">  </span></p>
</td>
</tr>
</tbody>
</table>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Investors and analysts following the real estate industry utilize funds from operations, or FFO, as a supplemental performance measure. FFO, reflecting the assumption that real estate asset values rise or fall with market conditions, principally adjusts for the effects of GAAP depreciation and amortization of real estate assets, which assumes that the value of real estate diminishes predictably over time. We compute FFO in accordance with the definition provided by the National Association of Real Estate Investment Trusts, or NAREIT, which represents net income (loss) (computed in accordance with GAAP), excluding gains (losses) on sales of real estate and impairment charges on real estate assets, plus real estate depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">In addition to presenting FFO in accordance with the NAREIT definition, we also disclose normalized FFO,which adjusts FFO for items that relate to unanticipated or non-core events or activities or accounting changes that, if not noted, would make comparison to prior period results and market expectations less meaningful to investors and analysts. We believe that the use of FFO, combined with the required GAAP presentations, improves the understanding of our operating results among investors and the use of normalized FFO makes comparisons of our operating results with prior periods and other companies more meaningful. While FFO and normalized FFO are relevant and widely used supplemental measures of operating and financial performance of REITs, they should not be viewed as a substitute measure of our operating performance since the measures do not reflect either depreciation and amortization costs or the level of capital expenditures and leasing costs necessary to maintain the operating performance of our properties, which can be significant economic costs that could materially impact our results of operations. FFO and normalized FFO should not be considered an alternative to net income (loss) (computed in accordance with GAAP) as indicators of our financial performance or to cash flow from operating activities (computed in accordance with GAAP) as an indicator of our liquidity. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">We calculate adjusted funds from operations, or AFFO, by subtracting from or adding to normalized FFO (i) unbilled rent revenue, (ii) non-cash share-based compensation expense, and (iii) amortization of deferred financing costs. AFFO is an operating measurement that we use to analyze our results of operations based on the receipt, rather than the accrual, of our rental revenue and on certain other adjustments. We believe that this is an important measurement because our leases generally have significant contractual escalations of base rents and therefore result in recognition of rental income that is not collected until future periods, and costs that are deferred or are non-cash charges. Our calculation of AFFO may not be comparable to AFFO or similarly titled measures reported by other REITs. AFFO should not be considered as an alternative to net income (calculated pursuant to GAAP) as an indicator of our results of operations or to cash flow from operating activities (calculated pursuant to GAAP) as an indicator of our liquidity. </span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';"><br /></span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Source: Medical Properties Trust, Inc.</span></p>
<p class="MsoNormal" style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif';">Medical Properties Trust, Inc.<br /> Charles Lambert, 205-397-8897<br /> Managing Director – Capital Markets<br /> <a href="mailto:clambert@medicalpropertiestrust.com">clambert@medicalpropertiestrust.com</a> </span></p>
</td>
</tr>
</tbody>
</table>
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