Sienna Senior Living Inc. · TSX:SIA
Sienna Senior Living — Q1 2026 Earnings Presentation
25 slides from Sienna Senior Living's earnings presentation, May 2026
Slide 1: Investor Presentation Q1 2026
Investor Presentation Aspira Bartlett Retirement Living Oshawa, Ontario Q1 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 $3.5B Adjusted Gross 46 Retirement Residences (RET) Book Value (5,544 Suit
Slide 4: Investment Highlights
Investment Highlights 1 Leading diversified 4 Strong ~$2.9B* 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: Growing waitlists in long-term care
Compelling Canadian Senior Living Fundamentals Growing waitlists in long-term care Rising Number of Hallway Patients in ~50,000 Ontario Hospitals Waitlist for long-term care bed 1600 Hallway Patients (Daily Average) in Ontario 1440 Source: Ontario Long-Term Care Association 1280 1120 960 ~7,200 800
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 and Margin Growth
Retirement Occupancy and Margin Growth Retirement Same Property (SP) Occupancy 94.7% 95.0 93.7 94.9 95.0 95.0 95.1 95.2 95.2 94.8 94.1 94.0 Q1 2026 93.2 93.3 92.8 93.1 92.5 92.9 90.9 90.4 91.0 91.5 92.2 92.5 92.3 92.2 Occupancy 90.3 90.0 in SP Retirement Segment Percent 85.0 80.0 280 bps 75.0 Q1 202
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 to Mid 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 2025-2026 $482M $320M $612M $487M* ~$1.0B 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 Contin
Slide 14: Acquisition Momentum Continues in 2026
Acquisition Momentum 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) ~$188M Acquisitions Ballycliffe (Closed & Under Contract in 2026) Greater Toronto Area, Ontario (Under Contra
Slide 15: Advancing Redevelopment Pipeline
Advancing Redevelopment Pipeline ~1,600 # of Beds Sienna’s Redevelopment Pipeline in Ontario Other 19% Greater Toronto Area 81% ~$250M Development of 448-bed LTC Community in Toronto Redevelopment Mix By Region (with expected construction start in second half of 2026) Sienna Senior Living 15
Slide 16: Unlocking Value through Redevelopments
Unlocking Value through Redevelopments Northern Heights Community (160 Beds) North Bay, Ontario 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
Slide 17: Operating & Financial Results
Operating & Northern Heights Community North Bay, Ontario Financial Results
Slide 18: Q1 Financial Results
Q1 Financial Results Quarter ended March 31 2026 2025 Change $Million, except occupancy and per share data Revenue (Proportionate Basis) 286.3 244.0 + 17.3% Same Property (SP) NOI 47.4 44.0 + 7.9% Retirement operations benefitting from improved Retirement SP NOI 22.3 19.2 + 15.8% occupancy and rate
Slide 19: Strong Financial Position and Access to Capital: Debt Maturities
Strong Financial Position and Access to Capital 37.1% 3.9% Debt Profile Net Debt to Adjusted Weighted Average As at March 31, 2026 Gross Book Value Cost of Debt March 31, 2026 March 31, 2026 Construction Financing 2.8% 500 $419 Debt Maturities ($MMs)* 400 CHMC Unsecured Insured Debentures $319 Mortg
Slide 20: Strong Financial Position
Strong Financial Position Net Debt / Adjusted Gross Book Value 0.6 49.6% 48.4% 0.5 46.6% 45.0% 43.8% 43.4% 42.2% 43.5% 40.6% 0.4 36.2% 37.1% BBB 0.3 0.2 $1.5B 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q1 2026 with Stable trends Unencumbered Morningstar DBRS Assets Net Debt / Adjusted EBITDA*
Slide 21: Capital Markets Initiatives
Capital Markets Initiatives $175,000,000 $250,000,000 Unsecured Debentures Unsecured Debentures 4.112% p.a. 3.524% p.a. 5-Year Term 3-Year Term Strong August 2025 December 2025 investor demand for Sienna’s equity & debt $125,000,000 $150,000,000 Shares Shares $19.73/share $22.79/share (ATM Program)
Slide 22: Building a Talent Pipeline for the Future
Building a Talent Pipeline for the Future Team Member Recognition & Awards Growing Team Member Engagement 8.0 Sienna Ownership Recognition 7.9 & Rewards Programs 7.3 7.5 Program Engagement Score 7.1 Team Member Awarding company Providing team Allowing team shares to members and members to permanent
Slide 23: 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 23
Slide 24: Strong Governance & Experienced Leadership Team
Strong Governance & Experienced Leadership Team Board of Directors Senior Executive Team Nitin Jain Olga Giovanniello Shelly Jamieson – Chair Director, President & Chief Chief Human Resources Executive Officer Officer, EVP Barbara Bellissimo David Hung Adam Walsh Chief Financial Officer & General Co
Slide 25: Contact Information
Contact Information Sienna Senior Living Inc. siennaliving.ca t: (905) 489-0258 e: investors@siennaliving.ca