Chartwell Retirement Residences · TSX:CSH.UN
Chartwell Retirement Residences — Q2 2026 Earnings Presentation
30 slides from Chartwell Retirement Residences's earnings presentation, Aug 6, 2026
Slide 1: Investor Presentation Q2 2026
Investor Presentation Q2 2026 August 6, 2026
Slide 2: Cautionary Statements
Cautionary Statements This presentation contains forward-looking information that reflects the current expectations, estimates and projections of management about the future results, performance, achievements, prospects or opportunities for Chartwell and the seniors housing industry. Forward-looking
Slide 3: Chartwell at-a-Glance
Chartwell at-a-Glance 30,000+ 94.3% ~ 12,000 Suites (1) Occupancy (2) Engaged Employees $1.3B $505M Revenue (3) Adjusted NOI (4) $7.4B $408M 7.0x Market Capitalization (5) Liquidity (6) Net Debt to Adjusted EBITDA (7) (1) Based on Chartwell’s owned and managed portfolio of residences as at June 30,
Slide 4: Chartwell Investment Highlights
Chartwell Investment Highlights 1 Integrated investment, asset management and operating platform. Leading Unparalleled corporate support programs empowering our residences’ Management leaders to excel. Platform Proven track record of execution. Leading national brand. 2 Geographically dive
Slide 5: Leading Management Platform: Executive Team
Leading Management Platform Supported by Highly Experienced Executive Team Gordon Chiu (2) Chief Technology Officer Tenure with Chartwell: 9 yrs. Industry Experience: Jonathan Boulakia 9 yrs. Jeff Brown Chief Investment Officer Chief Financial Officer and Chief Legal Officer Tenure with Chartwell: T
Slide 6: 2028 Strategy
Leading Management Platform 2028 Strategy We expect to deliver robust FFOPU growth Chartwell’s Strategy Statement through the achievement of the following targets: In 2026-2028, Target Results we will generate Same Property Performance robust FFO per unit growth Weighted average occupancy > 95% 94.4
Slide 7: Agile and Scalable
Leading Management Platform Agile and Scalable Resident Revenue (1) Enhanced CRM Tools 11.5% Localized Workforce Marketing Management Strategy Tools Occupancy (2) 280bps Regionally Leading Drives Focused Corporate Management Care Assist Yardi eHR Results Platform Sales Team Adjusted NOI (1) 16.
Slide 8: Commitment to ESG
Leading Management Platform Commitment to ESG Taking Care of Our Residents Taking Care of Our People Attract, Engage, Develop, and Empower Taking Care of Our Communities Creating Societal Impact Taking Care of Our Environment Meaningful Approach to Environmental Stewardship Corporate Governance Lead
Slide 9: Portfolio Map
Attractively Positioned Real Estate Portfolio Portfolio Map National presence in key Canadian markets British Columbia 2,752 Suites Alberta 2,687 Suites Quebec 13,121 Suites 1,196 Edmonton Ontario Greater Vancouver 11,941 Suites 731 Calgary 1,702 Quebec City 534 4,068 BC Interior 516 Montreal 658 Va
Slide 10: Canada's Only Pure Private Pay Retirement Company
Attractively Positioned Real Estate Portfolio Canada’s Only Pure Private Pay Retirement Company By Level of Care (1) By Geographic Location (2) LTC 3% Alberta 9% AL 7% British Columbia 9% IL 7% Quebec 43% • Upscale to mid-market residences ISL 83% • Urban and suburban Ontario markets with attractive
Slide 11: Acquisition Strategy Highlights 2024-2026
Attractively Positioned Real Estate Portfolio Acquisition Strategy Highlights 2024-2026 (1) 10,869 76 $3.2B Suites Properties Investment At Share At Share • Focused on attractively priced acquisitions to support growth during slowdown in development market • Successfully executed on acquisition stra
Slide 12: Strategic 23-Residence Partnership
Attractively Positioned Real Estate Portfolio Strategic 23-Residence Partnership • Completed the acquisition of a 30% ownership interest on June 2, 2026, for $382.5M, funded through the proportionate assumption of in-place debt of ~$208.8M (majority CMHC-insured), with the balance paid in cash. The
Slide 13: Development Pipeline
Attractively Positioned Real Estate Portfolio Development Pipeline Targeting High-Demand Core Markets British Columbia 2,590 Suites Alberta 1,002 Suites Quebec 3,347 Suites 671 Edmonton Ontario Greater Vancouver 2,015 Suites 331 Calgary 2,276 314 BC Interior Quebec City 1,144 Greater Montreal 1,034
Slide 14: Industry Fundamentals Support Future Growth
Industry Fundamentals Support Future Growth Accelerating Demand Lagging Supply Population of Age 75+ Year Olds New Construction Starts as a % of Inventory (millions) 75-79 year old 80+ years old 10 7.0% 9 6.0% 8 7 80+ year old 5.0% forecast CAGR 6 20-year 4.0% 4.0% 5 4 3.0% 3 2.0% 2 1.0% 1 0 0.0% 20
Slide 15: Demand will Overwhelm Supply
Industry Fundamentals Demand will Overwhelm Supply Demand vs. Supply Base Total Supply (existing + new)¹ Demand 490,000 • Current seniors housing demand is projected to double over the next 20 years 440,000 Shortage gap • 200,000+ new suites required 390,000 over the next 10 years compared with ~73,
Slide 16: Occupancy Outlook
FFO Accretive Growth Opportunities Occupancy Outlook Same Property Occupancy ▲50 bps ▲30 bps ▲50 bps 95.1% ▼60 bps ▲30 bps ▲10 bps 95.0% ▼20 bps 95.0% ▲50 bps 94.6% 94.5% ▼10 bps ▲10 bps 94.4% 94.7% ▲60 bps 94.1% 94.3% 94.3% 94.3% 94.2% ▲60 bps 93.6% ▲50 bps 93.0% ▲40 bps 92.4% ▲40 bps 91.9% ▲30 bps
Slide 17: Embedded Potential Value
FFO Accretive Growth Opportunities Embedded Potential Value 94.3% 95% Accelerating occupancy growth to target through: • Sales execution 90.9% • High grading of asset portfolio • Supportive macro economic factors June 2026 June 2026 Same Property Same Property Growth Target Portfolio Portfolio Occup
Slide 18: FFOPU Growth Supports Distribution Increases
FFO Accretive Growth Opportunities FFOPU Growth Supports Distribution Increases $1.10 140% 130% $1.00 $0.95 • FFOPU CAGR of 21% since 113% 120% $0.90 110% COVID recovery in 2023 103% supports resumption of 110% $0.80 $0.76 $0.76 100% sustainable increase $0.70 90% • 2% distribution increase in 79% 8
Slide 19: Strengthened Balance Sheet and Enhanced Liquidity
FFO Accretive Growth Opportunities Strengthened Balance Sheet and Enhanced Liquidity Interest Coverage Ratio (1) Net Debt to Adjusted EBITDA (1) Debt to Capitalization (2) 11.1 54.2% 9.4 10.1 10.2 51.3% 3.5 3.5 8.3 8.4 45.0% 46.3% 3.1 6.9 7.0 42.1% 2.9 2.8 2.7 39.0% 2.5 2.3 32.2%32.2% 2019 2020 2021
Slide 20: Financial Position – Debt Portfolio
FFO Accretive Growth Opportunities Financial Position – Debt Portfolio 72%, $2,418M CMHC-insured mortgages Debt Maturities 3%, $102M Amortization Principal due at maturity Credit Facilities Debentures WAIR Conventional mortgages 600.0 5.00% 4.38% 4.32% 4.31% 4.20% 4.50% 4.09% 4.16% 4.16% 500.0 3.73%
Slide 21: Chartwell Investment Highlights
Chartwell Investment Highlights 1 Integrated investment, asset management and operating platform. Leading Unparalleled corporate support programs empowering our residences’ Management leaders to excel. Platform Proven track record of execution. Leading national brand. 2 Geographically dive
Slide 22: Q2 2026 Summary
Current Period Financial Results Q2 2026 Summary Increase/(Decrease) Q2 2026 Q2 2025 $ % Net income/(loss) ($1.3M) ($5.7M) $4.4M n/m FFO (1) $90.5M $67.5M $23.0M 34.0% FFOPU (1) $0.28 $0.24 $0.04 16.7% Same property: Occupancy 94.3% 91.1% n/a 3.2pp Adjusted NOI (2) $86.9M $77.7M $9.2M 11.9% NOIPOS (
Slide 23: Q2 2026 Same Property Summary
Current Period Financial Results Q2 2026 Same Property Summary Occupancy • 94 Residences Residences • 15,539 Suites (14,384 suites at share) 94.3% 91.1% • Gains in all platforms compared to Occupancy Q2 2025. Q2 2025 Q2 2026 • Higher occupancy. Revenue • Increase in REVPOS (2). Adjusted NOI (1) $77.
Slide 24: Q2 2026 Adjusted NOI and Occupancy by Platform
Current Period Financial Results Q2 2026 Adjusted NOI and Occupancy by Platform Adjusted NOI Occupancy Q2 Q2 Inc/(Dec) Q2 Q2 Change 2026 2025 $ % 2026 2025 Same Property: Western Canada $27.1M $22.7M $4.4M 19.5% 95.4% 93.0% 2.4pp Ontario $43.1M $40.1M $3.0M 7.4% 92.8% 89.8% 3.0pp Quebec $16.7M $14.9
Slide 25: Reconciliation Table – Adjusted NOI
Supplemental Information Reconciliation Table – Adjusted NOI 12 months 12 months December 31, Subtract: Add: June 30, ($000s) 2025 2025 YTD 2026 YTD 2026 Total portfolio Adjusted resident revenue 1,112,462 532,469 640,941 1,220,934 Adjusted other property revenue 18,229 9,240 10,443 19,432 Adjusted
Slide 26: Reconciliation Table – FFO and FFOPU
Supplemental Information Reconciliation Table – FFO and FFOPU ($000s, except per unit amounts, number of units, and payout ratio) Q2 2026 Q2 2025 Change 2026 YTD 2025 YTD Change Net income/(loss) (1,339) (5,737) 4,398 6,653 27,457 (20,804) Add (Subtract): B Depreciation of PP&E 74,677 59,694 14,983
Slide 27: Reconciliation Table – FFOPU and Payout Ratio
Supplemental Information Reconciliation Table – FFOPU and Payout Ratio LTC Discontinued Operations ($000s, except per unit amounts, number of units, and payout ratio) 2020 2021 2022 2023 2024 2025 2021 2022 2023 Net income/(loss) 14,879 10,132 49,531 128,273 22,378 29,495 22,143 4,150 189,214 Add (S
Slide 28: Reconciliation Table – Same Property Adjusted NOI
Supplemental Information Reconciliation Table – Same Property Adjusted NOI ($000s, except occupancy rates) Q2 2026 Q2 2025 Change Property revenue 320,356 268,034 52,322 Add (Subtract): Share from joint ventures (1) 16,382 10,622 5,760 Share from non-controlling interest (2) - (900) 900 Adjusted pro
Slide 29: Reconciliation Table – REVPOS, DOEPOS, NOIPOS
Supplemental Information Reconciliation Table – REVPOS, DOEPOS, NOIPOS ($000s, except per occupied suites) Q2 2026 Q2 2025 Change 2026 YTD 2025 YTD Change Same property Adjusted resident revenue 199,903 184,723 15,180 398,827 366,140 32,687 Adjusted other property revenue 4,831 2,931 1,900 7,647 6,3
Slide 30: Chartwell contact details
7070 Derrycrest Drive Mississauga, Ontario L5W 0G5 www.investors.chartwell.com // investorrelations@chartwell.com
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