Slide 1: Growing Together: Q3 2025 Conference Call
Cover Option o/s new photo Growing Together Q3 2025 Conference Call November 12, 2025
Slide 2: Forward-looking statements and non-GAAP measures
Forward-looking statements and non-GAAP measures Forward-looking Statements Forward-looking statements can often be identified refer to “Risks and Uncertainties” and “Forward- by the expressions “anticipate”, “believe”, looking Statements” in Extendicare’s Q3 2025 This presentation contains forward-
Slide 3: Acquired Closing the Gap
Acquired Closing the Gap Acquisition augmented strong organic volume growth of 13.0% over prior year quarter • Transaction closed on July 1, 2025 for cash consideration of $75.1M, subject to customary adjustments and estimated earnout payments of ~$1.5 to $2.0 million • Full quarter impact reflected
Slide 4: Q3 growth highlights
Q3 growth highlights Adjusted EBITDA, excluding out-of-period items, increased by 36.6% to $46.9M Financial highlights Q3 Q3 Adjusted EBITDA Operational highlights 2025 2024 Reported $50.8M $36.1M +40.6% 24.6% YoY increase in home health care ADV; 12.9% organic growth and first full quarter of Closi
Slide 5: Building for the future
Building for the future Breaking ground on a new home in Sudbury in Q4 2025 • Three new homes opened since Q1 2024 • Six LTC homes under construction in the Axium JVs; 1,408 new beds will replace 1,097 Class C Estimated beds Redevelopment # of # Class Expected development C beds • Advancing 18 other
Slide 6: Financial Review
Financial Review Q3 2025
Slide 7: Consolidated results
Consolidated results Q3 2025 • Out-of-period items recognized in Q3 2025(1) consisted of LTC revenue and NOI of $3.9M, up $2.1M from $1.8M in Q3 2024 Q3 2025 vs Q3 2024 Reported • Q3 revenue up $81.2M; up $79.1M excluding out-of-period items, driven primarily by the full quarter contribution from th
Slide 8: Home health care
Home health care Strong organic growth, full quarter contribution from Closing the Gap and rate increases driving higher NOI margins ADV and Adjusted NOI Margin %(1) 13.6% 16% 13.5% 36,000 14% 12.6% 10.3% 34,000 11.3% 10.4% • Q3 revenue up $48.4M, driven by $24.0M full quarter 12% 10% 8.8% 8.3% 32,0
Slide 9: Long-term care
Long-term care Growth fueled by full quarter of the 9-home LTC acquisition and funding increases NOI Margin % (1) 15% • Out-of-period items recognized in Q3 2025(2) consisted of LTC revenue and NOI of $3.9M related to retroactive funding increases in Western Canada, up $2.1M from $1.8M in Q3 2024 10
Slide 10: Managed services Extendicare Assist and SGP
Managed services Extendicare Assist and SGP 6.0% organic growth in SGP client base offset by loss of Assist management contracts related to the Revera sale of its Class C LTC homes SGP (3rd party and JV beds) 175,000 • Q3 revenue down $3.3M largely driven by Revera’s sale 150,000 of its 30 Class C L
Slide 11: Strong liquidity and credit metrics
Strong liquidity and credit metrics Low leverage and strong free cash flow provide flexibility to pursue growth opportunities Debt Metrics(3) 7.4x 8.0x As at September 30, 2025 35.6% 6.5x 7.1x 6.1x 34.1% 33.9% Available 33.0% Long-term 32.1% 32.2% Long-term 31.7% Cash Revolving debt(1) 30.4% debt(1)
Slide 12: 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 The number of Canadians aged 85+ will Building new LTC homes to address the double by 2036 and triple by 2051 rising demand for long-term care Canadian Population 85+ 3x • Seniors aged 8
Slide 13: Appendix
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Slide 14: Adjustments to revenue, EBITDA and AFFO
Adjustments to revenue, EBITDA and AFFO Three and nine months ended September 30, 2025 • Q3 2025 and Q3 2024 results impacted by out-of-period LTC Impact of out-of-period items on Revenue, funding of $3.9M and $1.8M, respectively Adjusted EBITDA and AFFO/basic share(1) • YTD 2025 results impacted by
Slide 15: Adjusted NOI by division
Adjusted NOI by division(1) Three and nine months ended September 30, 2025 Long-term care NOI and margin(1) Home health care NOI and margin(1) Q3 Q3 YTD YTD Q3 Q3 YTD YTD 2025 2024 Change 2025 2024 Change 2025 2024 Change 2025 2024 Change $27.7M $22.8M +21.2% $71.7M $61.7M +16.3% $25.4M $15.6M +63.2
Slide 16: Services-focused growth
Services-focused growth Services represented ~55% of TTM Q3 2025 adjusted NOI Direct care for seniors NOI contribution by segment(1) Home health care TTM Q3 2025 Adjusted NOI(1) $210.5M Long-term care Managed 59 Home 13.5M Home health care Long-term care health care $76.9M 36.5% services 18.4% $38.8
Slide 17: Helping people live better
Helping people live better