Ventas, Inc. — Director's Dealing 2011

May 16, 2011

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: VENTAS INC (VTR)
CIK: 0000740260
Period of Report: 2011-05-13

Reporting Person: LUSTIG MATTHEW J (Director)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	24854060	Indirect

Footnotes

F1: Prometheus Senior Quarters LLC ("Prometheus"), a Delaware limited liability company, Lazard Senior Housing Partners LP ("LSHP"), a Delaware limited partnership, and LSHP Coinvestment Partnership I LP ("LSHP Coinvest"), a Delaware limited partnership, collectively, may be deemed to beneficially own 24,854,060 shares of Issuer's common stock. The Managing Members of Prometheus are LFSRI II-CADIM Alternative Partnership L.P., LF Strategic Realty Investors II L.P. and LFSRI II Alternative Partnership L.P., each a Delaware limited partnership, and Lazard Fr?res Real Estate Investors L.L.C. ("LFREI"), a New York limited liability company, is the general partner of each such limited partnership. Lazard Senior Housing Partners GP LLC ("LSHP GP"), a Delaware limited liability company, is the general partner of LSHP. LSHP Coinvestment I GP LLC ("LSHP Coinvest GP"), a Delaware limited liability company, is the general partner of LSHP Coinvest.

F2: [Continued from previous] Lazard Alternative Investments LLC ("LAI"), a Delaware limited liability company, is the managing member of each of LFREI, LSHP GP and LSHP Coinvest GP. In his capacity as Managing Director of LAI, Managing Principal of LFREI and Managing Principal and Chief Executive Officer of each of LSHP GP and LSHP Coinvest GP, Mr. Lustig may be deemed to be the beneficial owner of the shares of Issuer's common stock reported herein. Mr. Lustig expressly disclaims beneficial ownership of the shares of Issuer's common stock reported herein, except to the extent of his pecuniary interest therein, if any.

F3: On May 13, 2011, Matthew J. Lustig was appointed to the board of directors of the Issuer.