Sienna Senior Living Inc. · TSX:SIA
Sienna Senior Living — Q4 2025 Earnings Presentation
27 slides from Sienna Senior Living's earnings presentation, March 2026
Slide 1: Investor Presentation
Investor Presentation March 2026 Sienna Senior Living Inc. (SIA: TSX)
Slide 2: Cautionary Note
Cautionary Note Certain information in this presentation may contain forward-looking information. Actual results could differ materially from conclusions, forecasts or projections in the forward-looking information, and certain material factors or assumptions were applied in drawing conclusions or m
Slide 3: Sienna at-a-glance
Sienna at-a-glance Sienna (TSX: SIA) is one of Canada's leading owners and operators of seniors' residences with high quality assets in Ontario, Saskatchewan, Alberta and British Columbia. Owned and Managed Property Portfolio $3.4B Adjusted Gross 46 Retirement Residences (RET) Book Value (5,543 Suit
Slide 4: Investment Highlights
Investment Highlights 1 Leading diversified 4 Strong ~$2.8B* Canadian senior living Track Record Acquisitions & provider of Growth Developments since 2010 2 Needs-driven business 5 Attractive ~4% resulting from significant Dividend Dividend Yield demographic shift Significant growth potential Strong
Slide 5: Canadian Senior Living Landscape
Canadian Senior Living Landscape 1 Government Funded vs. Private Pay 2 Highly Regulated Sector Government-Funded Long-Term Care (LTC) LTC is highly regulated by the provincial Care is fully funded by the provincial governments, with governments residents responsible for co-payments for accommodation
Slide 6: Compelling Canadian Senior Living Fundamentals
Compelling Canadian Senior Living Fundamentals Increasing demand amid constrained supply of retirement residences 85+ Age Group in Canada to Construction Starts as % of Inventory to increase 2.5x between 2026 - 2046 2.5x 6.0% <1% 5.0% Canadian 2.5M 4.0% senior housing construction 2.1M 3.0% starts 1
Slide 7: Compelling Canadian Senior Living Fundamentals
Compelling Canadian Senior Living Fundamentals Growing waitlists in long-term care Ontario needs over 30,000 new long-term ~50,000 care spaces to serve the number of people Waitlist for long-term care bed currently on the long-term care wait list. in Ontario Source: Ontario Long-Term Care Associatio
Slide 8: Sienna’s High Quality Retirement Portfolio
Sienna’s High Quality Retirement Portfolio www.aspiralife.ca Aspira Hazeldean Gardens, Ottawa, Ontario Aspira Kensington Place, Toronto, Ontario 55 Aspira Hygate Waterloo Waterloo, Ontario Retirement Residences* Located in Ontario, British Columbia & Saskatchewan Aspira Pacifica, Metro Vancouver, Br
Slide 9: Retirement Occupancy Exceeding 95%
Retirement Occupancy Exceeding 95% Retirement Same Property (SP) Occupancy 95.2 95.2 94.9 95.0 95.0 95.1 95% 95.0 93.2 93.2 93.1 93.7 95%+ 92.2 92.5 92.9 92.8 92.5 92.3 92.2 Occupancy 92.0 90.9 91.0 91.5 since September 2025 90.3 90.4 90.3 90.0 89.7 Percent 89.0 86.0 180 bps Q4 2025 83.0 Year-over-Y
Slide 10: Sienna’s Long-Term Care Portfolio at Full Occupancy
Sienna’s Long-Term Care Portfolio at Full Occupancy ▪ Fully occupied homes with long wait lists ▪ Increased revenues from private accommodations ▪ Reduced agency staffing costs ▪ Government funding increases to offset inflation 50 Long-Term Care Communities* Located in Ontario, Alberta & British Col
Slide 11: 2026 Growth Targets
2026 Growth Targets Performance Indicator 2026 Growth Targets + Retirement SP NOI Increase 10%+ + Retirement SP Occupancy 95%+ + Retirement SP Margin Increase 100 – 150 bps + LTC SP NOI Increase Low Single-Digit % Sienna Senior Living 11
Slide 12: Track Record of Growth
Track Record of Growth Aspira Brants Landing & Oakwood Commons Brantford, Ontario
Slide 13: Track Record of Growth since IPO
Track Record of Growth since IPO 2010-2014 2015-2016 2017-2018 2022-2023 2024-2025 $482M $320M $612M $487M* $803M acquisitions acquisitions acquisitions acquisitions & acquisitions & developments developments 9 LTC (1,395 beds) 7 LTC (1,017 Beds) 14 RET (1,790 suites) 14 RET (1,439 suites) 4 Continu
Slide 14: Expanding through Developments in Ontario
Expanding through Developments in Ontario Northern Heights Community ~$208M North Bay, Ontario Development Projects Competed in 2025 Aspira Brants Landing & Oakwood Commons Brantford, Ontario Sienna Senior Living 14
Slide 15: Unlocking Value through Redevelopments
Unlocking Value through Redevelopments 1 Enhances portfolio quality through modern, efficient and environmentally friendly buildings 2 Aligns with Government of Ontario’s target to build 30,000 new LTC beds by 2028 3 Adds significant economic value • Highly attractive government incentives including
Slide 16: Diversified Platform Expansion Continues in 2026
Diversified Platform Expansion Continues in 2026 Glenmore Lodge, LaSalle Park Kelowna, British Columbia Greater Toronto Area, Ontario (22.8% interest acquired in 2026) (10.9% interest acquired in 2026) ~$79M Acquisitions (Closed & Under Contract in 2026) ~$250M Development of 448-bed LTC Community i
Slide 17: Significant Opportunities for Continued Growth
Significant Opportunities for Continued Growth Incremental growth through asset optimization, continued retirement NOI margin growth and occupancy improvements Growth through Redevelopment of accretive Ontario long-term acquisition care portfolio opportunities Aspira Hygate Waterloo, Ontario Sienna
Slide 18: Operating & Financial Results
Operating & Northern Heights Community North Bay, Ontario Financial Results
Slide 19: Q4 2025 Financial Results (excluding one-time items)
Q4 2025 Financial Results (excluding one-time items) Quarter ended December 31 2025 2024 Change $’000, except occupancy and per share data Retirement – Average SP Occupancy 94.7% 92.9% +1.8% Long-Term Care – Average Total Occupancy 98.3% 98.4% -0.1% Retirement operations Retirement SP NOI 22,771 19,
Slide 20: Full Year 2025 Financial Results (excluding one-time items)
Full Year 2025 Financial Results (excluding one-time items) Year ended December 31 2025 2024 Change $’000, except occupancy and per share data Revenue (Proportionate Basis) 1,035,594 900,386 + 15.0% Same Property (SP) NOI 181,333 166,239 + 9.1% Revenue exceeding Retirement SP NOI 85,763 75,004 + 14.
Slide 21: Strong Financial Position
Strong Financial Position Net Debt / Adjusted Gross Book Value 0.6 53.3% 49.6% 48.4% 0.5 46.6% 45.0% 43.8% 43.4% 42.2% 43.6% 40.7% 0.4 36.3% 0.3 BBB $1.5B 0.2 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 with Stable trends Unencumbered Morningstar DBRS Assets Net Debt / Adjusted EBITDA* 10
Slide 22: Debt Maturities ($MMs)
Diversified Debt Profile 5.7 years 3.9% Debt Profile As at December 31, 2025 Weighted Average Term to Maturity Weighted Average Cost of Debt Construction Financing 2.8% 500 $415 Debt Maturities ($MMs)* 400 CHMC Unsecured Insured Debentures $319 Mortgages 300 $289 42.2% $1.5B 47.1% $210 200 $181 100
Slide 23: 2025 Capital Markets Initiatives
2025 Capital Markets Initiatives $144,000,000 $175,000,000 Shares Unsecured Debentures $15.80/share 4.112% p.a. 5-Year Term Strong August 2025 February 2025 investor demand for Sienna’s equity & debt $125,000,000 $250,000,000 Shares Unsecured Debentures $19.73/share 3.524% p.a. (ATM Program) 3-Year
Slide 24: Building a Talent Pipeline for the Future
Building a Talent Pipeline for the Future Team Member Engagement Team Member Recognition & Awards 7.9 8.0 Sienna Ownership Recognition 7.5 & Rewards Programs 7.3 86% Engagement Score 7.1 Program Team Member Team Member Awarding company Providing team Allowing team Participation In 2025 shares to mem
Slide 25: Living our Purpose, Vision & Values
Living our Purpose, Vision & Values Our Purpose Cultivating Happiness in Daily Life OurVision Canada’s Most Trusted and Most Loved Seniors’ Living Provider OurValues Act Positively Be Accountable Create Community Demonstrate Caring Sienna Senior Living 25
Slide 26: Strong Governance & Experienced Leadership Team
Strong Governance & Experienced Leadership Team Board of Directors Senior Executive Team Nitin Jain Teresa Fritsch Shelly Jamieson – Chair Director, President & Chief Chief Corporate Officer, Executive Officer EVP Barbara Bellissimo David Hung Olga Giovanniello Chief Financial Officer & Chief Human
Slide 27: Contact Information
Contact Information Sienna Senior Living Inc. siennaliving.ca t: (905) 489-0258 e: investors@siennaliving.ca