NOTICE OF PUBLIC HEARING REGARDING FINANCING AND REFINANCING OF HEALTH CARE FACILITIES WITH THE PROCEEDS OF TAX-EXEMPT BONDS TO BE ISSUED BY THE NORTH CAROLINA MEDICAL CARE COMMISSION NOTICE IS HEREBY GIVEN to all interested persons that the North Carolina Medical Care Commission (the "Commission") will hold a public hearing in Conference Room L2-02210 at 1915 Health Services Way, Raleigh, North Carolina 27607 on April 8, 2026 at 11:00 a.m., at which time any person may be heard regarding the health care facilities proposed to be financed and refinanced by the Commission with proceeds from the issuance of one or more series of tax-exempt bonds (the "Bonds") pursuant to the plan of financing described in this notice. The Commission has been requested to issue the Bonds and to lend the proceeds from the sale thereof to North Carolina Baptist Hospital ("NCBH"), Wake Forest University Health Sciences ("WFUHS") and/or Wake Forest University Baptist Medical Center ("WFUBMC," and collectively with NCBH and WFUHS, the "Borrowers"), each a North Carolina nonprofit corporation and an organization described in Section 501(c)(3) of the Code. The Bonds will be qualified 501(c)(3) bonds as defined in Code Section 145. The plan of financing calls for the Borrowers to use the proceeds of the Bonds to (1) pay, reimburse NCBH for paying, or refinance indebtedness incurred to pay or reimburse NCBH for paying the costs of acquiring, constructing and equipping the new Julie Ann Freischlag Tower consisting of seven stories and approximately 350,000 square feet and including a 45-bed adult emergency department, 62 private pre-operative and post-operative acute care bays, 28 operating rooms including two endovascular hybrid suites, and an intensive care unit with 56 ICU rooms (the "2026 Project"); (2) refund all or a portion of the Commission's outstanding Health Care Facilities Revenue Bonds (Wake Forest Obligated Group), Series 2012A (the "2012A Bonds"); (3) refund all or a portion of the Commission's outstanding Health Care Facilities Revenue Refunding Bonds (Wake Forest Obligated Group), Series 2012B (the "2012B Bonds"); (4) refund all or a portion of the Commission's outstanding Health Care Facilities Revenue Bonds (Wake Forest Obligated Group), Series 2019C (the "2019C Bonds"); (5) fund a portion of interest accruing on the Bonds, if deemed desirable by the Borrowers; and (6) finance certain costs to be incurred in connection with the issuance of the Bonds by the Commission, if deemed desirable by the Borrowers. The 2026 Project is located on the main campus of Wake Forest Baptist Medical Center, which has a primary address of Medical Center Boulevard, Winston-Salem, North Carolina 27157 and is bordered by Miller Street, Kerensky Street, Queen Street, Lockland Avenue and Salem Parkway (the "Main Campus"). The maximum stated principal amount of Bonds to be issued is $619,180,000, with a maximum stated principal amount of $385,000,000 for the 2026 Project, $120,000,000 for the refunding of the 2012A Bonds, $52,000,000 for the refunding of the 2012B Bonds, and $62,180,000 for the refunding of the 2019C Bonds. Proceeds of the 2019C Bonds, together with proceeds from the Commission's Health Care Facilities Revenue Bonds (Wake Forest Obligated Group), Series 2019A and Series 2019B (collectively with the 2019C Bonds, the "Series 2019 Bonds"), were used to (i) pay, or reimburse WFUBMC, NCBH and/or WFUHS for paying, all or a portion of the costs of the Series 2019 Projects (as defined below), (ii) refinance a taxable bank loan made to the Borrowers (the "Taxable Loan"), and (iii) pay certain expenses incurred in connection with the issuance of the Series 2019 Bonds. The Series 2019 Projects included (i) the acquisition of certain assets comprising High Point Regional Health, a 351-bed acute care hospital and related health care system located in High Point, North Carolina ("High Point Regional"); (ii) (a) the construction and equipping of approximately 10,000 square feet of new space and the renovation of approximately 6,800 square feet of existing space within the existing surgical services suite on the second floor of Davie Medical Center ("Davie Medical Center") to add operating room capacity and (b) the construction and equipping of an approximately 7,500-square-foot orthopedic surgery clinic on the fourth floor of the Davie Medical Center Office Building ("Davie Medical Center MOB"), both located on a campus in Bermuda Run, North Carolina; (iii) the construction and equipping of a new approximately 26,500-square-foot surgical facility adjacent to the outpatient surgery center entrance at Lexington Medical Center located in Lexington, North Carolina ("Lexington Medical Center"); and (iv) the renovation of two floors on the Main Campus, consisting of (a) the relocation of pediatric psychiatry to another physical location and developing in its place a new general acute care unit with 30 licensed beds, (b) the renovation of space to accommodate 19 patient observation beds and create four minor procedure rooms, and (c) the expansion and modernization of the neonatal intensive care unit to include 51 private rooms. High Point Regional is owned and operated by WFUBMC through High Point Regional Health, a North Carolina nonprofit corporation, and located at 601 N. Elm Street, High Point, North Carolina 27262. Davie Medical Center and Davie Medical Center MOB are operated by WFUBMC and NCBH and are located on a 33-acre campus owned by NCBH northwest of the intersection of Highway 801 and Interstate 40, with a principal address of 329 N.C. Highway 801 N., Bermuda Run, North Carolina 27006. Lexington Medical Center is owned and operated by WFUBMC through Lexington Medical Center, a North Carolina nonprofit corporation, and located at 250 Hospital Drive, Lexington, North Carolina 27292. The Main Campus is owned partly by NCBH, partly by WFUHS, and partly by NCBH and WFUHS as joint tenants, and is operated by WFUBMC. The proceeds of the Taxable Loan were used to redeem the Commission's Health Care Facilities Revenue Refunding Bonds (Wake Forest Baptist Obligated Group), Series 2012C (the "Series 2012C Bonds"). The Series 2012C Bonds were issued for the purpose of providing funds, which, together with other available funds, were used to (i) refund the Commission's Variable Rate Demand Health Care Facilities Revenue Refunding Bonds (Wake Forest University Health Sciences), Series 2008B (the "Series 2008B Bonds"), (ii) refinance an interim bank loan made to WFUHS (the "Bridge Loan"), (iii) finance a portion of a payment made by WFUHS in connection with the termination of a qualified hedge with respect to the Series 2008B Bonds, and (iv) pay certain expenses incurred in connection with the issuance of the Series 2012C Bonds. The proceeds of the Bridge Loan were used to redeem the Commission's Variable Rate Demand Health Care Facilities Revenue Refunding Bonds (Wake Forest University Health Sciences), Series 2008C and Series 2008D (the "Series 2008CD Bonds"). Proceeds of the 2012A Bonds and the 2012B Bonds were used to (i) pay, or reimburse NCBH and/or WFUHS for paying, all or a portion of the costs of the Series 2012A Projects (as defined below), (ii) refund the Commission's Variable Rate Demand Health Care Facilities Revenue Refunding Bonds (Wake Forest University Health Sciences), Series 2008A and Series 2008B (the "Series 2008AB Bonds," and together with the Series 2008CD Bonds, the "Series 2008 Bonds"), (iii) refinance the Bridge Loan, and (iv) pay certain expenses incurred in connection with the issuance of the 2012A Bonds and the 2012B Bonds. The Series 2012A Projects included (i) the construction and equipping of an additional six floors, totaling approximately 283,000 square feet, to the Comprehensive Cancer Center of Wake Forest Baptist (the "Cancer Center"), located on top of the then-existing facility located on the Main Campus, to house, among other things, 192 private inpatient rooms, an intensive care unit, and the expansion of the Cancer Center's outpatient day hospital, with an increase in the oncology inpatient bed complement of 35 acute care and 44 general observation beds; (ii) the construction and equipping of two approximately 45,000-square-foot, three-story medical office buildings to be known as Wake Forest Baptist Health Medical Plaza - Clemmons located at 2311 and 2341 Lewisville-Clemmons Road, Clemmons, North Carolina 27012; (iii) the expansion within existing facilities and renovation of the Emergency Department at the Brenner Children's Hospital located on the Main Campus, totaling approximately 20,665 square feet of space with 24 treatment rooms; (iv) phase one of the construction and equipping of what is now known as Davie Medical Center and the Davie Medical Center MOB, including a three-story, approximately 101,000-square-foot outpatient center with two operating rooms, two minor procedure rooms, seven observation beds, a 16-bed emergency department, and diagnostic imaging facilities and, attached to the outpatient center via an enclosed connector, a four-story medical office building, totaling up to approximately 80,000 square feet; (v) capital costs, including software and hardware components, installation costs, and other expenses, associated with the implementation of an integrated medical and financial records system; and (vi) the acquisition and installation of routine capital equipment on the Main Campus. The Series 2008 Bonds were issued by the Commission for the purpose of providing funds to (i) retire the Commission's Health Care Facilities Revenue Bonds (Wake Forest University Health Sciences Project), Series 2002 Bonds (the "Series 2002 Bonds"), and (ii) pay certain expenses incurred in connection with the authorization and issuance of the Series 2008 Bonds. Proceeds of the Series 2002 Bonds were used to (i) pay costs, or reimburse WFUHS for paying costs, of certain capital projects (the "Series 2002 Projects"), (ii) refinance indebtedness (the "Pre-2002 Indebtedness") of WFUHS and/or Wake Forest University (the "University"), the initial proceeds of which were used to pay costs, or to reimburse WFUHS and/or the University for paying costs, of certain capital projects (collectively with the Series 2002 Projects, the "2002 Prior Projects"), and (iii) pay certain costs incurred in connection with the issuance of the Series 2002 Bonds. The 2002 Prior Projects included: (i) the initial construction and equipping of, and subsequent addition to, the Ardmore Tower, a patient tower with various clinical and support services (the "Ardmore Tower"); (ii) the initial construction of the Cancer Center; (iii) the construction of a parking deck connecting the Ardmore Tower and the Cancer Center, and other parking facilities; (iv) the construction and equipping of a building to house an Information Services Department and Public Relations and Marketing (the "Information Services Building Project"); (v) the construction of an addition to a magnetic resonance imaging facility; (vi) the acquisition of a co-tenancy interest in approximately 2.12 acres of land and buildings on the Main Campus, the Piedmont Building Campus at 1920 West 1st Street, Winston-Salem, North Carolina 27104 (the "Piedmont Campus") and the CompRehab Building (now known as the Medical Plaza Miller); (vii) the acquisition of a kidney dialysis center in Statesville, North Carolina (the "Statesville Dialysis Center"); (viii) the acquisition of a kidney dialysis center in Winston-Salem, North Carolina (the "Miller Street Dialysis Center"); (ix) the construction, renovation and/or expansion of various clinical, research, laboratory and academic facilities, including without limitation the Clinical Sciences Building, the Nutrition Research Building, the Hanes Building and other facilities for WFUHS and the Wake Forest School of Medicine; (x) the acquisition of the Piedmont Triad Community Research Center located at 115 South Chestnut Street, Winston-Salem, North Carolina 27101 (the "PTCRC"); (xi) the construction and upgrading of a power plant on the Main Campus; (xii) the replacement of the chiller and upgrading of the air conditioning system for the Piedmont I Building; (xiii) build out, renovation and equipping buildings at various sites; and (xiv) the acquisition of routine equipment. The Pre-2002 Indebtedness included (i) the North Carolina Educational Facilities Finance Agency's Revenue Bonds (The Bowman Gray School of Medicine Project), Series 1990, and its Revenue Bonds (The Bowman Gray School of Medicine Project), Series 1996, (ii) the Commission's Health Care Facilities Revenue Bonds (Medical Center of The Bowman Gray School of Medicine and North Carolina Baptist Hospital Project), Series A to E issued in 1985, and (iii) various interim commercial loans. Except as noted below, the 2002 Prior Projects are owned and operated by WFUHS and/or NCBH and are located on the Main Campus, on the Piedmont Campus or at the PTCRC. The Information Services Building Project is owned and operated by WFUHS and NCBH and is located at the corner of Cloverdale Avenue and Miller Street, Winston-Salem, North Carolina. The Statesville Dialysis Center is located at 627 Signal Hill Drive Extension, Statesville, North Carolina 28625 and is owned by WFUHS and operated by WFUHS through Statesville Dialysis Center of Wake Forest University, a North Carolina nonprofit corporation. The Miller Street Dialysis Center is located on 120 Miller Street, Winston-Salem, North Carolina 27103 and is owned by WFUHS and operated by WFUHS through Miller Street Dialysis Center of Wake Forest University, a North Carolina nonprofit corporation. Any person wishing to comment in writing on the projects to be financed and refinanced with the proceeds of the Bonds or the issuance of the Bonds pursuant to the plan of financing described herein should forward comments, for receipt prior to the date and time of the public hearing specified above, to Mr. Geary W. Knapp, Assistant Secretary, North Carolina Division of Health Service Regulation, North Carolina Medical Care Commission, 1915 Health Services Way, Raleigh, North Carolina 27607. NORTH CAROLINA MEDICAL CARE COMMISSION By: Geary W. Knapp Assistant Secretary IPL0326640 Mar 31 2026