Slide 1: Growing Together: Q4 2023 Results Conference Call
Growing Together Q4 2023 Results Conference Call March 8, 2024
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 actual results to differ from current expectations, by the expressions “anticipate”, “believe”, refer to “Risks and Uncertainties” and “Forward- This presentation contains f
Slide 3: Q4 2023 operating highlights
Q4 2023 operating highlights • Strong performance across all operating metrics bolstered by our strategic transformation vs. Q4 vs. Q3 2022 2023 LTC occupancy +330 bps – Home health care ADV +10.2% +2.8% SGP customer base +24.1% +5.6% • LTC occupancy has returned to pre-pandemic levels above 97% • L
Slide 4: Strategic transformation evident in strong Q4 results
Strategic transformation evident in strong Q4 results Growth in managed services and progress on LTC redevelopment in line with strategy Growth Redevelopment Stronger Balance Sheet in Managed Services accelerated through Axium JVs adds capital flexibility 1,536 beds (6 homes) $146.1M in liquidity at
Slide 5: LTC redevelopment advances in Q4
LTC redevelopment advances in Q4 Commenced construction on two projects; JV acquired 320-bed redevelopment project from Revera • Construction commenced on two LTC homes in Q4 • Revera 320-bed LTC project in Orleans, ON acquired by Axium JV II in Q4 2023 • Extendicare 256-bed LTC project in Orleans,
Slide 6: Financial review
Financial review Q4 2023 Extendicare ParaMled ERO
Slide 7: Consolidated results
Consolidated results Three and twelve months ended December 31, 2023 ($ millions, except per share amounts) Q4 Q4 YTD YTD 2023 2022 Change 2023 2022 Change • Q4 NOI doubled, reflecting growth across all Revenue(1) $350.2 $310.4 12.8% $1,305.0 $1,221.6 6.8% segments, including $5.4M of retroactive fu
Slide 8: Long-term care
Long-term care Margins recovering despite inflationary pressures Revenue • Q4 revenue up $13.1M; excluding a reduction in COVID-19 funding of $14.4M, Q4 2023 $206.4M 6.8% revenue up $27.5M due to funding enhancements and timing of spend, including YTD 2023 $788.1M 2.7% Ontario flow-through funding o
Slide 9: Home health care
Home health care Five consecutive quarters of robust volume growth Revenue • Q4 revenue up $18.8M; excluding $5.4M retroactive funding and impact of Q4 2023 $127.2M 17.3% reduction in COVID-19 funding of $0.9M, revenue up $14.2M, reflecting 10.2% increase in ADV and billing rate increases YTD 2023 $
Slide 10: Managed services | Extendicare Assist and SGP
Managed services | Extendicare Assist and SGP Strategic transactions and organic sales drive major growth Revenue • Q4 revenue up $8.0M due largely to addition of 56 homes and ~7,000 beds from Revera transactions and growth in SGP clients Q4 2023 $16.5M 92.5% • Q4 NOI up $4.3M on revenue growth, par
Slide 11: Strong financial position
Strong financial position Strong liquidity position; no debt maturities until Q2 2025 As at December 31, 2023 Debt metrics Debt metrics (including 15% JV(2) share) Long-term TTM Weighted TTM Weighted Available Long-term debt(1) Adjusted average Adjusted average Cash demand facilities debt(1) (includ
Slide 12: Helping people live better: Strategic direction
Strategic direction Canada’s leader in Establish & leverage partnerships seniors’ care services: with other care providers to better long-term care & integrate seniors’ care with the rest of home care the health system Use technology to improve Helping Known for communications & leverage data analyt
Slide 13: Appendix
Appendix E ist Better alltogether Extendicare ParaMled
Slide 14: Adjustments to EBITDA and AFFO
Adjustments to EBITDA and AFFO Three and twelve months ended December 31, 2023 ($ millions, except per share amounts) Impact of select items on Adjusted EBITDA and AFFO/basic share(1) Q4 Q4 YTD YTD Impact on: 2023 2022 Change 2023 2022 Change Adjusted EBITDA Net COVID funding (costs) $0.0 $(8.5) $8.
Slide 15: Services across the care continuum
Extendicare Services across the care continuum Direct services to seniors NOI contribution by segment(1) Long-term care Home health care Managed services Long-term care Home health care 33.4% 53 9.9M 25.4% 57.2% 47.7% 2022 2023 Long-term care Home health care $132.4M(1) $100.5M(1) homes owned hours
Slide 16: Adjusted NOI by division
Adjusted NOI by division(1) Three and twelve months ended December 31, 2023 ($ millions) Long-term care NOI and margin(1) Home health care NOI and margin(1) Q4 Q4 YTD YTD Q4 Q4 YTD YTD 2023 2022 Change 2023 2022 Change 2023 2022 Change 2023 2022 Change $17.6 $15.7 11.6% $63.1 $57.5 9.8% $10.7 $7.1 4
Slide 17: Helping people live better
Helping people live better