Slide 1: Growing Together
o/s new picture o/s for new pictures Q2 Growing Together Q1 2025 Conference Call May 7, 2025
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 refer to “Risks and Uncertainties” and “Forward- by the expressions “anticipate”, “believe”, looking Statements” in Extendicare’s Q1 2025 This presentation contains forward-
Slide 3: Q1 growth highlights
Q1 growth highlights Adjusted EBITDA excluding out-of-period items increased by 42.7% to $29 million Financial highlights Operational highlights Q1 8.9% YoY increase in home health care ADV Adjusted EBITDA(1) 2025 7.2% YoY increase in SGP customer base Reported $35.6 +18.2% Excluding out-of-period i
Slide 4: Acquisition of Closing the Gap
Acquisition of Closing the Gap $75.5M acquisition expected to close in Q3 2025 subject to regulatory approvals • Based on 2024 performance, Closing the Gap’s ~1,200 caregivers delivered approximately 1.1 million service hours in Ontario and Nova Scotia, with ADV of 3,109(1) which would have added $8
Slide 5: Building for the future
Building for the future Opened 256-bed home in Stittsville and completed the sale of three homes to Axium JV • Opened Crossing Bridge in Q1; 256 new beds replaced 240 C beds; initiated sale of West End Villa in Ottawa to recycle capital from vacated C home properties into new projects • Completed sa
Slide 6: Financial Review
Financial Review Q1 2025
Slide 7: Consolidated results
Consolidated results Q1 2025 ($ millions, except per share amounts) • Q1 impact of out-of-period items(1) • lower revenue $12.4M ($11.0M in 2025 vs $23.4M in 2024) Q1 2025 vs Q1 2024 • lower NOI $3.2M ($6.6M in 2025 vs $9.8M in 2024) Revenue NOI • Q1 revenue up $7.6M; up $20.0M excluding out-of-peri
Slide 8: Strong financial position
Strong financial position Robust liquidity, including sale proceeds post Q1, supports pending acquisitions Debt Metrics(2) As at March 31, 2025 36.8% 35.7% 35.6% 6.5x 7.1x 6.1x 34.1% 33.9% Long-term Available Credit Long-term Cash debt(1) Facilities debt(1) 33.0% (including 15% JV share(2)) 5.3x 32.
Slide 9: Home health care
Home health care Growth in volumes and rate increases driving revenue and boosting margins ADV and Adjusted NOI Margin %(1) • Q1 impact of out-of-period items(2) 14% 12% 12.6% 11.3% 10.4% 10.3% 34,000 32,000 9.8% • lower revenue $2.6M ($11.0M in 2025 vs $13.6M in 2024) 10% 8.6% 8.8% 8.3% 30,000 • hi
Slide 10: Long-term care
Long-term care Segment growth fueled by funding increases and improved preferred occupancy NOI Margin % (1) 15% • Q1 impact of out-of-period items(2) • lower revenue $9.8M (nil in 2025 vs $9.8M in 2024) 10% 11.3% 11.4% • lower NOI $7.1M ($2.7M in 2025 vs $9.8M in 2024) 10.0% 9.4% • Q1 revenue down $
Slide 11: Managed services Extendicare Assist and SGP
Managed services Extendicare Assist and SGP Continued momentum driven by organic growth in SGP client base • Q1 revenue up $1.6M largely driven by organic growth SGP (3rd party and JV beds) in SGP clients and newly opened homes in the JV 175,000 150,000 • Q1 NOI up $1.3M on revenue growth, partially
Slide 12: Meeting the needs of a growing demographic
Meeting the needs of a growing demographic Compelling growth opportunities in long-term care and home health care The number of Canadians aged 85+ will Building new LTC homes to address the double by 2036 and triple by 2051 rising demand for long-term care Canadian Population 85+ 3x • Seniors aged 8
Slide 13: Appendix
OLD o/s new picture Appendix
Slide 14: Agreement to acquire nine LTC homes from Revera
Agreement to acquire nine LTC homes from Revera Expected to close in Q2 2025 subject to regulatory approval; Revera completed the sale of 21 homes subsequent to Q1 • The nine homes, currently managed by Extendicare, will Home Name Address LTC Beds(1) Ret. Beds add 822 LTC and 574 private pay retirem
Slide 15: Adjustments to revenue, EBITDA and AFFO
Adjustments to revenue, EBITDA and AFFO Three months ended March 31, 2025 ($ millions, except per share amounts) • Q1 2025 results impacted by out-of-period funding Impact of out-of-period items on Revenue, and costs, and workers compensation rebates Adjusted EBITDA and AFFO/basic share(1) o Home he
Slide 16: Adjusted NOI by division
Adjusted NOI by division(1) Three months ended March 31, 2025 ($ millions) Long-term care NOI and margin(1) Home health care NOI and margin(1) Q1 Q1 Q1 Q1 2025 2024 Change 2025 2024 Change $18.5 $15.5 19.1% $15.2 $10.8 41.0% 9.4% 7.9% 150 bps 10.3% 8.3% 200 bps Average occupancy Average daily volume
Slide 17: Services-focused growth
Services-focused growth Services represented ~55% of TTM Q1 2025 adjusted NOI Direct care for seniors NOI contribution by segment(1) TTM Q1 2025 Adjusted NOI(1) $194.8M Long-term care Home health care 44.9% 50 Home Long-term care homes owned 11.2M health care hours delivered 34.5% (TTM) Long-term ca
Slide 18: Helping people live better
Helping people live better