Slide 1: Caring for seniors today, growing for tomorrow
Caring for seniors today, growing for tomorrow Q3 2022 results Conference call November 11, 2022
Slide 2: Forward-looking statements and non-GAAP measures
Forward-looking statements and non-GAAP measures Forward-looking Statements the Company’s current expectations regarding future it is difficult to predict how significant the adverse impact results, performance or achievements and are based upon will be on the global and domestic economy and the Thi
Slide 3: COVID-19 update
COVID-19 update Societal reduction of prevention measures driving new outbreaks and staff absenteeism • High levels of community transmission driving new outbreaks and staff absenteeism, exacerbating a tight labour market • At present, 13 LTC homes are experiencing a COVID-19 outbreak(1) • High rate
Slide 4: Strategic repositioning
Strategic repositioning Extendicare to drive services growth using a less capital intensive approach Completed transfer to Saskatchewan Health Authority • Subsequent to Q3 2022, completed transition of ownership and operation of five homes to the SHA for an aggregate purchase price of $13.1M and net
Slide 5: Long-term care redevelopment
Long-term care redevelopment Committed to working through inflation challenges with government and industry partners • Plans progressing on 20 projects with 4,248 beds, replacing 3,285 Class C beds across Ontario • Three projects currently under construction in Sudbury, Kingston and Stittsville with
Slide 6: 2022 third-quarter highlights
2022 third-quarter highlights • Sequential improvement in LTC occupancy, although continuing outbreaks are tempering pace of recovery • Government funding for LTC is significantly lagging inflation; Q3 2022 LTC NOI margins down 230 bps to 7.8%(2) from prior year • Tight labour market, ongoing pandem
Slide 7: Financial review
Financial ‘review Q3 2022 EXTENDICARE' = ParoNled = “Sisk edie
Slide 8: Consolidated results
Consolidated results Three and nine months ended September 30, 2022 ($ millions, except per share amounts) Q3 Q3 YTD YTD Impact of Select Items on Adjusted EBITDA and 2022 2021 Change 2022 2021 Change AFFO/Basic Share(2)(3) Revenue(1) $308.9 $284.3 8.7% $911.2 $860.8 5.9% Q3 Q3 YTD YTD Impact on: 20
Slide 9: Long-term care
Long-term care Three and nine months ended September 30, 2022 Revenue • Q3 revenue up $16.6M due to Ontario flow-through funding up $19.5M, partially offset by lower COVID-19 funding of $4.6M Q3 2022 $192.3M 9.5% YTD 2022 $573.7M 6.4% • Q3 NOI down $3.0M due to lower net COVID recovery of $1.1M and
Slide 10: Home health care
Home health care Three and nine months ended September 30, 2022 • Q3 revenue up $5.7M due to billing rate increases, including $6.7M Revenue PSW wage enhancement, partially offset by lower COVID-19 funding of Q3 2022 $107.8M 5.6% $4.4M and decline in ADV of 1.2% YTD 2022 $313.2M 4.1% • Q3 NOI down $
Slide 11: Other operations
Other operations Three and nine months ended September 30, 2022 Revenue • Q3 revenue up $2.3M due to growth in SGP clients and timing of Q3 2022 $8.8M 34.6% Assist services YTD 2022 $24.2M 16.3% • Q3 NOI up $1.0M on revenue growth partially offset by increased NOI staff and IT costs in support of gr
Slide 12: Strong financial position
Strong financial position As at September 30, 2022 Long-term Undrawn Construction TTM Adjusted Cash Debt(1) Financing(2) EBITDA interest Debt to Weighted coverage GBV average rate $175M $380M $142M Q3 2022 3.3x 35.2% 5.3% Q4 2021 3.5x 45.5% 4.3% Debt Maturities ($ millions) Mortgage/Loan Principal a
Slide 13: Compelling growth opportunities in long-term care and home care
Compelling growth opportunities in long-term care and home care Direct services to seniors LONG-TERM CARE HOME HEALTH CARE 53 9.2M Long-term care Home health care homes owned hours delivered (TTM) Management, consulting and purchasing services GROUP PURCHASING MANAGEMENT SERVICES SERVICES AND CONSUL
Slide 14: Thank you
Thank you EXTENDICARE ParaMled acc Redefining Care Better all together
Slide 15: Appendix
_ Kingston ores Fee Appendix EXTINDICAR = ParaMied «= “BeSfop SEN”
Slide 16: Estimated COVID-19 revenue, operating expenses and administrative costs
Estimated COVID-19 revenue, operating expenses and administrative costs Three and nine months ended September 30, 2022 2022 2021 2020 (millions of dollars) Q3 Q2 Q1 YTDQ3 Q4 Q3 Q2 Q1 YTDQ3 Year Year Revenue Long-term care 18.7 17.0 43.1 78.8 27.4 23.3 24.7 45.8 93.8 121.2 62.5 Home health care 3.3 4
Slide 17: Results from discontinued operations
Results from discontinued operations Nine months ended September 30, 2022 Nine months ended September 30 Twelve months ended December 31 2022 2021 2021 Retirement SK LTC Retirement SK LTC U.S. Total Retirement SK LTC U.S. (millions of dollars unless otherwise noted) Living Homes Total Living Homes S
Slide 18: Results – NOI by division
Results – NOI by division(1) Three and nine months ended September 30, 2022 ($ millions) Long-term Care NOI and Margin (1) Home Health Care NOI and Margin (1) Q3 Q3 YTD YTD Q3 Q3 YTD YTD 2022 2021 Change 2022 2021 Change 2022 2021 Change 2022 2021 Change $13.6 $15.4 -12.0% $41.4 $46.9 -11.7% $5.9 $9