July 2014

In addition to the historical information contained within, the matters discussed in this presentation contain forward-looking statements that involve estimates, assumptions, risks and uncertainties. These risks are discussed in filings with the Securities and Exchange Commission by Healthcare Realty Trust, including its Annual Report on Form 10-K for the year ended December 31, 2013 under the heading “Risk Factors,” and as may be updated in its Quarterly Reports on Form 10-Q filed thereafter. Forward-looking statements represent the Company’s judgment as of the date of this presentation. The Company disclaims any obligation to update forward-looking material.

Information as of June 30, 2014, unless otherwise disclosed.

| 3

TOP LOCATIONS SQ FT %

Dallas/Fort Worth 2,348,811 16.4%

Charlotte 820,457 5.8%

Nashville 794,912 5.6%

Denver/Colorado Springs 724,410 5.1%

San Antonio 689,764 4.8%

Houston 591,027 4.1%

Indianapolis 558,694 3.9%

Richmond, Virginia 558,209 3.9%

Los Angeles 551,371 3.9%

Des Moines 532,610 3.7%

The Big Picture

$3.2B 14.3M 9.7MINVESTED IN 202 PROPERTIES AND MORTGAGES

SQUARE FEET OWNED IN 29 STATES

SQUARE FEET MANAGED INTERNALLY

83%MEDICAL OFFICE AND OUTPATIENT

81%ON/ADJACENT TO HOSPITAL CAMPUSES

| 4

(CHI)

(Ascension)

(CHI)

Health System Affiliations

With nearly 80% of its portfolio associated with credit rated health systems, Healthcare Realty is aligned with well-established providers who have the resources to adapt to reform.

INVESTMENT GRADE AFFILIATIONS

ASSOC. SQ FT

%

Baylor Scott & White Health 2,357,719 16.5%

Ascension Health 1,167,438 8.2%

Catholic Health Initiative (CHI) 901,855 6.3%

Carolinas HealthCare System 729,824 5.1%

Bon Secours Health System 548,209 3.8%

Baptist Memorial Health Care 515,876 3.6%

Mercy 386,000 2.7%

Indiana University Health 382,695 2.7%

University of Colorado Health 345,240 2.4%

CHE Trinity Health 278,904 2.0%

| 5

Portfolio History

93

ASSETS

(in m

illions

)

99 0596 02 0894 00 0697 03 09 10 1195 01 0798 04

2008

Acquired Carolinas Healthcare System Portfolio

2011

Acquired Bon Secours Portfolio

1995

Acquired Starr Sanders Johnson

1998

Acquired Capstone Capital Corporation

2004

Acquired BaylorHealthcare Portfolio

2007

Sold Senior Living Facilities and paid special dividend of $4.75 per share

3,000

1,000

2,000

0

12 13

1,500

2,500

$3,500

500

MEDICAL OFFICE BUILDING SPECIALITY INPATIENT SENIOR HOUSING OTHER

75% MOB

27% MULTI-TENANT

51 ,000 AVG SF / BUILDING

68% MOB

60% MULTI-TENANT

54,000 AVG SF / BUILDING

83% MOB

84% MULTI-TENANT

70,000 AVG SF / BUILDING

| 6

Industry Landscape

MORE THAN $1 TRILLION OF HEALTHCARE REAL ESTATE VALUE

Source: Sg2 and Stifel Nicolaus

ACUITY

SETTING

OUTPATIENT CARE

RESIDENTIAL CARE

ACUTE CARE

RECOVERY & REHABILITATION

Senior Housing$163B

MOB/Outpatient$183B

Small Physician Clinics $220B

Hospital-BasedOutpatient

$45B

Hospitals$304B

Skilled Nursing$104B

LTAC$18B

IRF$15B

| 7

Who Owns MOBs?

HCP VTR (3) HCN DRE SNH (2) OHI HR MPW HTA H C T (3) LTC SBRA

13% 17% 16%

14% 32%

1% 1% 83% 89%

% Multi-tenant

% On-campus

Avg building size

75

74

48kSF

81

91

72kSF

HR

HR

HR

% OF MOBS IN PORTFOLIO (1)

(1) Includes only public REITs(2) Includes MOBs, Life Science, and other medical use buildings(3) On June 2, 2014, VTR announced that it will acquire HCT

Source: Company Filings

HTA

HTA

HTA

MOB STATS

N H I

55%

| 8

Size of MOB Market

NEW DEVELOPMENT EACH YEARTOTAL OUTPATIENT / MOB MARKET AVERAGE ANNUAL SALES

Hospital-owned$226B

Investor-owned $57B

REITs $20B

Non-REITs $37B

$6.1B $4B-6B$283B*

* Total outpatient/MOB market excludes government and most small physician clinics

Source: RBC Capital Markets; Stifel Nicolaus; Real Capital Analytics; Modern Healthcare

Development projects, more so than acquisitions, foster hospital relationships.

Hospital-owned facilities are rarely for sale.

TOP SELLERS

Cogdell Spencer $709M

WRIT 480M

ARCT 413M

Seavest 342M

LaSalle 331M

(2012-2013)

| 9

Booming Demand

ANNUAL PHYSICIAN OFFICE VISITS BY AGE

2.3 Visits

3.7 Visits

6.9 Visits

<45

>65

45-64

2000 2020 2030

HC Exp. % of GDP

% over 65yr. old

13.8%

12.4%

19.9% 20.3%

Source: CMS.gov, US Centers for Disease Control and Prevention, US Census Bureau, AHA Hospital Statistics, BLS.gov

1985 1990 1995 2000 2005 2010

700

500

300

100

Outpatien

t Visits

Inpatient Days

PATIENT VISITS BY YEAR ( IN MILLIONS) EMPLOYMENT CHANGE SINCE 2009

2009 2010 201 1 2012 2013 2014

30%

20%

10%

0%

-10%

+ 30% Outpatient Care Centers

+ 15% Ambulatory (all outpatient facilities)

+ 9% Healthcare Jobs+ 9% Office of Physicians

+ 3% Total US Employment

The aging population and increased utilization are expected to drive higher volumes of outpatient visits.

Healthcare employment continues to increase to meet growing demand.

2010

| 10Source: Dixon Hughes Goodman, AHA Annual Survey data for Community hospitals

2002 2014

100%

50%

0%

PRACTIC

ES OWNED

BY HOS

PITALS

PRACTICES OWNED BY PHYSICIANS

Provider Trends

To reduce costs, hospitals are aligning with physicians and shifting more procedures to outpatient settings. Healthcare Realty's portfolio is positioned to benefit from these structural changes.

INPATIENT vs OUTPATIENT

1991

2001

201 1

24%

35%

43%

Hospitals' Gross Revenue

| 11

Topography

HIGHE

R RIS

K

LOWE

R FU

NGIBI

LITY

HOSPITAL

ON-CAMPUS

NEAR-CAMPUS

OFF-CAMPUS AFF IL I ATED

HR

’S %

ON

/AD

J TO

CA

MP

US

BY

SQ

UA

RE

FE

ET

LOW-FUNGIBILITY: Having a unique quality which cannot be replaced exactly.

Proximity to hospital drives long-term value and lowers risk.

20122010 2011 2013

81

7775

69

64

Healthcare Realty has strategically shifted its portfolio toward lower-risk, on-campus medical office buildings.

WHY ON-CAMPUS MATTERS.. .

ON-CAMPUS OFF-CAMPUS

Occupancy* 87.6% 84.4%

Tenant Retention* 82.9% 78.1%

Re-leasing Spread* 3.4% 2.3%

* HR results from 2008-2013

2014

OFF-CAMPUS

| 12

Intrinsic Real Estate Value vs. Leasehold Value

Multi-tenant building in dense location with strong demand.

Credit worthy single tenant in location with few replacement tenants.

Leasehold Value

• Credit-driven• High fungibility• Rent exceeds market• Renewal roll down (terminal value risk)• Duration: lease term (finite)

Intrinsic Real Estate Value

• Demand-driven• Low fungibility• Perpetual cash flow• Duration: infinite

DEMAND > SUPPLYSUPPLY > DEMAND

QUANT I T Y (SF )

PRIC

E (

RENT)

| 13

Rent Cushion

RENT ( 1 x )

RENT CUSHION*

COVERAGE RATIO 1 .2 X1 .5 X

3 X3.4 X

> 6 X

> 9 X

Assisted Living/Independent Living

Skilled Nursing Facility Inpatient Rehab Facility Acute Care Hospital Surgical Hospital Medical Office Building

* Rent Cushion (8x) = Coverage ratio (9X) - rent (1X)

Source: Stifel Nicolaus; Company Filings; MGMA

MOB rent coverage provides a buffer against reimbursement changes.

| 14

0-2,500 SF 2,501-5,000 SF 5,001-7,500 SF 7,501-10,000 SF 10,000+ SF

Tenant Diversity

AllergyAnesthesiologyAudiologyBariatric SurgeryCardio/Thoracic SurgeryCardiologyColon and Rectal SurgeryDermatologyEndocrinologyFamily PracticeGastroenterologyGeneral Surgery

Healthcare Realty Tenant Specialties

Hematology/OncologyInfectious DiseaseInternal MedicineNeonatologyNephrologyNeurologyNeurosurgeryObstetrics/GynecologyOphthalmologyOrthopedicsOtolaryngologyPain Management

PediatricsPhysical TherapyPlastic SurgeryPodiatryPsychology/PsychiatryPulmonary MedicineRadiologyReproductive EndocrinlogyRheumatologySports MedicineUrologyVascular Surgery

Healthcare Realty reduces risk through tenant size and diversity of medical specialties.

HEALTHCARE REALTY’S AVERAGE TENANT SIZE = 4,445 SF

| 15

Historical Investment Activity

2 0 1 2

2008-2013 Cumulative New Investments: $1.8B

2008-2013 ANNUAL AVERAGE OF NEW INVESTMENTS: $297M

2 0 0 8 2 0 0 9 2 0 1 0 2 0 1 1

Total Assets with New Investments

ACQUISITION

DEVELOPMENT

$316M

$111M

$1,637M

$81M$96M

$2,081M

$2,220M

$2,541M

$2,800M$305M

$84M$190M

$95M$141M$84M

$2 . 1 B

$ 2 . 3 B

$ 2 . 6 B

$ 2 . 9 B$ 3 . 0 B

Since 2007, Healthcare Realty has invested nearly $1.8B in quality assets, more than doubling its asset base, reducing risk and increasing long-term value.

2 0 1 3

$2,911M

$217M

$59M

$3 . 2 B

32%

A CQUI S

I TION $

1,204M

DEVE

LOPM

ENT

$575M

68%

| 16

Healthcare Demand/Need

PatientAffluence

PHYSICIAN OFFICE VISITSINPATIENT PROCEDURES

PHYSICIAN NEED

INCOMEINSURED POPULATION / PAYOR MIX

POPULATION GROWTH

HIGHEST RISK

LOWEST RISK

RECENT ACQUISITIONS

HR PORTFOLIO

HR DEVELOPMENT CONVERSIONS

HR’S ESTIMATED CAP RATE RANGE

MOB Differentiation

On/off campus

Hospital strength

Tenant mix

Building size

Ground lease vs. fee simple

Building condition/functionality

Competition

Parking

Financial measures:

Growth profile

Lease rates

Capital needs

Operating expenses

Lease turnover/expirations

%

6.5-7%

7.5% +

6-6.5%

7-7.5%

Beyond market dynamics, asset and portfolio value is a function of asset-specific attributes, including:

Source: Montecito Research & Analytics

Healthcare Realty’s assets are predominately in the top two quadrants.

| 17

Recent MOB Acquisitions

F I R S T H I L L

SEATTLE | 82,000 SQ FT

Adjacent to Swedish Medical Center, part of AA rated Provi-

dence Health & Services.

SUMMI T CROSSING

GASTONIA (CHARLOTTE) | 91,000 SQ FT

Adjacent to AA- rated CaroMont Health Regional Medical Center.

SAINT JOSEPH REGIONAL MEDICAL CENTER MOB

SOUTH BEND | 206,000 SQ FT

On campus and attached to Saint Joseph Regional Medi-cal Center, part of AA- rated CHE Trinity.

MEDICAL CENTER OF THE ROCKIES MOB I AND I I

LOVELAND (DENVER) | 150,000 SQ FT

On campus and attached to A+ rated University of Colorado Health's Medical Center of the Rockies.

8000 WOLF RIVER

GERMANTOWN (MEMPHIS) | 52,000 SQ FT

Adjacent to 39,000 SQ FT MOB purchased in October 2012. Affiliated with AA- rated Baptist Memorial Health Care.

Healthcare Realty targets on-campus, multi-tenant MOBs associated with market-leading hospitals.

JE F FERSON MOB

AUSTIN | 98,000 SQ FT

Affiliated with Seton Healthcare, part of AA+ rated Ascension Health.

AUSTIN MEDICAL PLAZA

AUSTIN | 48,000 SQ FT

On the campus of Seton Medical Center, part of AA+ rated Ascension Health.

WESLEY LONG PROFESSIONAL BUILDING

GREENSBORO | 35,000 SQ FT

On the campus of Wesley Long Hospital, part of AA rated Cone Health.

F R I D L E Y ME D I C A L CEN TER

MINNEAPOLIS | 60,000 SQ FT

On campus and attached to Unity Hospital, part of AA-

rated Allina Health.

| 18

Mercy Health Projects

SIZE 200,000 SQ FT

TOTAL PROJECT COST $91.2M(1)

CONVERSION DATE May 22, 2014

2Q14 INTEREST / RENTAL INCOME $1.7M

3Q14 RENTAL INCOME $1.8M

SIZE 186,000 SQ FT

TOTAL PROJECT COST $111.4M (2)

CONVERSION DATE September 27, 2013

2Q14 RENTAL INCOME $2.3M

COMPREHENSIVE OUTPATIENT FACILITYOklahoma City, OK

ORTHOPEDIC SURGICAL FACILITYSpringfield, MO

(1) Healthcare Realty purchased for $85.4M and subsequent to purchase the Company funded an additional

$1.7M and anticipates funding an additional $4.1M in 2014.(2) Healthcare Realty purchased for $102.6M and subsequent to purchase the Company funded an additional $8.8M.

These two built-to-suit facilities are complete and are 100% leased to "AA-" rated Mercy Health, a Saint Louis based health system.

| 19

Growth Strategies

HIGHER RISK

DEVELOP MOBs

ACQUIRE MOBs

NEW ASSET TYPES

MERGERS AND ACQUISIT IONS

EXPENSE CONTROL

LEASING

DISPOSIT IONS

CAPITAL IMPROVEMENTS

REDEVELOPMENT

Tight spreads

Immediate accretion

Quality vs. quantity

Capital market risk

Newer assets

Growth markets

Leading health systems

Slower timeline

LOWER RISK

LO

WE

R R

ET

UR

NH

IGH

ER

RE

TU

RN

Development

Acquisitions

Internal Growth

Portfolio Shift

As a pure-play REIT, Healthcare Realty is focused on maintaining a strong internal growth profile, supplemented by disciplined acquisitions and selective developments.

| 20

Portfolio Management

$3.1 BILLION OF ASSETS*

DEVELOPMENT CONVERSIONS

NON-CORE ASSETS

STABILIZED PROPERTIES

LEASE-UP

RECENT ACQUISIT IONS

DISPOSITION

96% 4%

* Excludes land held for development and corporate property

Like recent acquisitions, the development properties are stabilized and will be included in same store in 1Q 2015.

0%$3,019M Gross

Investment$120M Net Book Value

CIP

| 21

Stabilized Properties

STABILIZED PROPERTIES96% OF ASSETS

• > 8% yield on cost

• 91% occupied

• $176M annualized NOI

• 2-4% NOI growth profile

• 19% single-tenant net lease

• 81% multi-tenant

• 82% leased, 70% occupied

• $25M-30M of estimated NOI at stabilization

• $4.1M quarterly NOI as of Q2 2014(2)

• $5-10M in remaining TI funding in 2014

• 96% occupied

• 7% yield on cost

DEVELOPMENT CONVERSIONS

RECENT ACQUISIT IONS (1)

SAME STORE PROPERTIES

$459M Invested

1.3M SQ FT

13 Properties

$441M Invested

1.3M SQ FT

12 Properties

$2.1B Invested

10.5M SQ FT

156 Properties

(1) Properties acquired during the prior five quarters, not included in same store(2) Adjusted to reflect NOI if all occupants at June 30, 2014 had taken occupancy and paid rent for the entire quarter

| 22

Non-Core Assets

• 48% Occupied

• $120M net book value

• $2.6M annual NOI

• 22 MOBs (including 3 assets held for sale)

• 1.3M square feet

• 43% off campus

• Largest concentrations: Nashville, Dallas, New Orleans, Los Angeles, Chicago, St. Louis

DEVELOPMENT CONVERSIONS

NON-CORE ASSETS

STABILIZED PROPERTIES

LEASE-UP

RECENT ACQUISIT IONS

DISPOSITION

4%

Through routine asset management, Healthcare Realty recycles capital into new assets. The Company projects $40M-$60M in dispositions in 2014.

CIP

$6.2M sales price

2 off campus MOBs

• 111k square feet

• 60% occupied

2014 DISPOSIT IONS

Q1

2 0 1 4

Q2

Q2

| 23

Portfolio Trends

DEVELOPMENT LEASE UP

Leased

Occupied

SAME STORE OCCUPANCY

CONTRACTUAL RENT INCREASES YEAR-OVER-YEAR SAME STORE NOI GROWTH

51%

2.5%

33%

3.1%

82%

3.0%

100% 100%

2.1%

87%88%

70%

2.2%

Mult i-Tenant

Mult i-Tenant

STNL*

STNL*

* Single-tenant net lease

Q2 Q3 Q4

2 0 1 2

Q1 Q2

2 0 1 3

Q3 Q4

Average: 2.1%

2.1%

Q1

2 0 1 4

Q2 Q3 Q4

2 0 1 2

Q1 Q2

2 0 1 3

Q3 Q4 Q1

2 0 1 4

Q2 Q3 Q4

2 0 1 2

Q1 Q2

2 0 1 3

Q3 Q4

Q1

2 0 1 4

Q2 Q3 Q4

2 0 1 2

Q1 Q2

2 0 1 3

Q3 Q4 Q2

Q2

| 24

OLD RENT TERM

NEW RENT TENANT IMPROVEMENTS

GROSS INVESTMENT RENT CONCESSIONS

RENT BUMP LEASING COMMISSIONS

Cash Releasing Spread

Average

Releasing Yield

Average*

Releasing Yield

10.5% 11.0%

$26.95 $27.64

* Not indicative of overall yield because it does not reflect any vacancy

Releasing yield captures the overall economics of leases renewed, whereas releasing spreads only reflect one factor.

| 25

Debt-to-EBITDA

MOB MOB

RISK RISK

DEBT LEVEL*

DEBT LEVEL*

SH SHIRF IRFSNF SNFHOSP. HOSP.

Cap Rate Cap Rate

DEBT

EBITDA

DEBT

EBITDA

* Debt level is debt as a percentage of total capital

Assuming debt-to-EBITDA is held constant, riskier assets would perversely supporthigher debt levels.

Assuming equal debt levels, safer lower-yielding assets will result in higher debt-to-EBITDA.

| 26

$89M

$248M

$299 M

$398M

$163M

$2,464M(2)

Revolver (1)

Senior Notes Due 2023

Senior Notes Due 2017

Senior Notes Due 2021

Mortgage Notes Payable (1)

Equity Market Value

$3,861MILLION

April 2017

January 2017

1 .55%

January 2021

April 2023

November 2017

∞

0 YRS 10 YRS

6.62%

5.86%

3.85%

5.47%

Capital Stack and Maturities

(1) Balance as of June 30, 2014(2) Based on closing price of $25.28 on July 28, 2014 and 97,461,515 shares outstanding as of July 25, 2014(3) Reflects the stabilization of the 12 properties in development conversion using the midpoint of an estimated $25-30M of NOI from the properties

DEBT METRICS Q2 2014 Annualized Stabilized (3)

Fixed Charge Coverage Ratio 2.8x 3.0x

Debt Service Coverage 3.1x 3.2x

Debt to EBITDA 6.4x 6.0x

Debt to Total Assets 42.6% NA

MATURITY

Total Capitalization

4.7

3% B

LEN

DE

D C

OST

OF

DE

BT

$200M

Term loan due 2019

February 20191 .60%

| 27

Healthcare Realty

Healthcare Realty Trust is a real estate investment trust that integrates owning, managing, financing

and developing real estate properties associated primarily with the delivery of outpatient healthcare

services throughout the United States. The Company had investments of approximately $3.2 billion in

202 real estate properties and mortgages as of June 30, 2014. The Company’s 200 owned real

estate properties are located in 29 states and total approximately 14.3 million square feet. The Company

provided property management services to approximately 9.7 million square feet nationwide.