Slide 1: Growing Together: Q4 2024 Conference Call
o/s for new pictures Q2 Growing Together Q4 2024 Conference Call February 28, 2025
Slide 2: Forward-looking statements and non-GAAP measures
Forward-looking statements and non-GAAP measures Forward-looking Statements expressions or the negative thereof. These forward- the securities regulatory authorities, available at looking statements reflect the Company’s current www.sedarplus.ca and on Extendicare’s website at This presentation cont
Slide 3: Q4 growth highlights
Q4 growth highlights Adjusted EBITDA excluding out-of-period items increased by $10.1 million or 43.5% to $33.4 million Financial highlights Operational highlights Adjusted Divisional NOI Q4 Q4 Margins(1) 2024 2023 10.1% YoY increase in home health care ADV Long-term care 10.0% 8.5% +150 bps Home he
Slide 4: Momentum in services segments drives Q4 performance
Momentum in services segments drives Q4 performance Strong financial results and outlook support 5.0% dividend increase; redevelopment supported by Axium JV Growth in Services LTC Redevelopment Strong Balance Sheet Q4 vs PY in Axium JVs enhancing capital flexibility Managed Home Services Health Care
Slide 5: Redevelopment continues to progress
Redevelopment continues to progress Opened two new homes in the Axium JV and commenced construction on two new projects • Opened two LTC homes; Kingston and Stittsville (448 beds replace 406) • Commenced construction on two projects; London and Port Stanley (320 beds will replace 230 C beds) • Recyc
Slide 6: Agreement to acquire nine LTC homes from Revera
Agreement to acquire nine LTC homes from Revera Anticipate the $60.3M transaction to close in Q2 2025 following regulatory approval • The homes are currently managed by Extendicare Home Name Address LTC Beds(1) Ret. Beds • The nine homes will add 822 LTC and 574 private Blenheim Community Village Bl
Slide 7: Financial Review
Financial Review Q4 2024
Slide 8: Consolidated results
Consolidated results Q4 2024 ($ millions, except per share amounts) • Q4 results include out-of-period funding of $6.3M Q4 2024 vs Q4 2023 ($1.9M for LTC and $4.4M for ParaMed) in 2024, compared with $5.4M for ParaMed in 2023(1) Revenue NOI $391.6 +$41.4 $53.8 +$11.0 • Q4 revenue up $41.4M, driven p
Slide 9: Strong financial position
Strong financial position New $275M senior secured credit facility enhances flexibility; $126.5M convertible debenture redeemed in Q4 Debt Metrics(2) 37.5% As at December 31, 2024 36.8% 35.7% 35.6% 6.5x 34.1% 6.1x 5.3x Long-term Available Credit Long-term Cash debt(1) 33.9% Facilities debt(1) 33.0%
Slide 10: Long-term care
Long-term care Funding increases, lower agency costs and improved occupancy drive strong results NOI Margin % (1) • Q4 results include $1.9M of out-of-period revenue 20% (retroactive funding) 15% • Q4 revenue up $18.5M; up $16.6M(2) excluding out-of-period 10% funding, reflecting funding increases a
Slide 11: Home health care
Home health care Revenue growth driven by rate increases and strong volume growth ADV and Adjusted NOI Margin %(1) • Q4 results include out-of-period funding of $4.4M 14% 12% 12.6% 11.3% 10.4% 32,000 9.8% 8.3% 30,000 in 2024, compared with $5.4M in 2023 10% 8.6% 8.8% 28,000 8% 6.0% • Q4 revenue up $
Slide 12: Managed services Extendicare Assist and SGP
Managed services Extendicare Assist and SGP Organic growth in SGP clients driving strong financial performance SGP (3rd party and JV beds) 175,000 • Q4 revenue up $2.3M largely driven by organic growth 150,000 125,000 in SGP clients and newly opened homes in the JV 100,000 • Q4 NOI up $1.2M on reven
Slide 13: Meeting the needs of a growing demographic
Meeting the needs of a growing demographic Compelling growth opportunities in long-term care and home health care Canadian Population 85+ • Building new LTC homes to address the increased need 3.0 for long-term care 2.79 2.5 o Seniors aged 85+ increasing at ~4% per year(1) 3x o LTC waitlist of more
Slide 14: Appendix
Appendix Extendicare
Slide 15: Adjustments to revenue, EBITDA and AFFO
Adjustments to revenue, EBITDA and AFFO Three and twelve months ended December 31, 2024 ($ millions, except per share amounts) • Q4 results impacted by out-of-period LTC funding of Impact of select items on Revenue, Adjusted EBITDA and $1.9M retroactive to April 1, 2023 and ParaMed AFFO/basic share(
Slide 16: Adjusted NOI by division
Adjusted NOI by division(1) Three and twelve months ended December 31, 2024 ($ millions) Long-term care NOI and margin(1) Home health care NOI and margin(1) Q4 Q4 YTD YTD Q4 Q4 YTD YTD 2024 2023 Change 2024 2023 Change 2024 2023 Change 2024 2023 Change $22.3 $17.6 27.1% $84.5 $63.1 33.8% $14.9 $10.7
Slide 17: Services-focused growth
Services-focused growth Services represented ~55% of FY 2024 adjusted NOI Direct care for seniors NOI contribution by segment(1) 2024 Adjusted NOI(1) $186.2M Long-term care Home health care 45.4% 51 Home Long-term care homes owned 11.0M health care hours delivered 33.7% Long-term care (TTM) Home hea
Slide 18: Helping people live better
Helping people live better