Slide 1: Growing together: Q1 2024 Results Conference Call
Growing together Q1 2024 Results Conference Call May 16, 2024 1
Slide 2: Forward-looking statements and non-GAAP measures
Forward-looking statements and non-GAAP measures Forward-looking Statements expressions or the negative thereof. These forward- authorities, available at www.sedarplus.ca and on looking statements reflect the Company’s current Extendicare’s website at www.extendicare.com. This presentation contains
Slide 3: Strategic transformation reflected in Q1 results
Strategic transformation reflected in Q1 results Growth in managed services and progress on LTC redevelopment in line with strategy Growth in Managed Redevelopment through Strong Balance Sheet adds Services through Revera Axium JVs capital flexibility transactions and organic growth 1,280 beds (5 ho
Slide 4: Q1 2024 operating highlights
Q1 2024 operating highlights Strong performance reflects execution across business segments Q1 2024 vs. Q1 2023 LTC occupancy 97.5% +90 bps Home health care ADV 29,007 +11.4% SGP customer base 136,200 +23.7% • Services are growing strongly, representing 56% of NOI in the quarter adjusted for one-tim
Slide 5: Ontario government addresses inflation gap
Ontario government addresses inflation gap One-time funding and April 1, 2024 rate increases alleviate cost pressures and support redevelopment • Key funding highlights: • Effective April 1, 2024, blended 6.6% increase across all funding categories; 11.5% in the other accommodation (“OA”) envelope a
Slide 6: Executing on LTC redevelopment
Executing on LTC redevelopment Opened 256-bed Countryside home in Sudbury; Sold 256-bed Orleans project into the Axium JV post Q1 • Opened Extendicare Countryside, a 256-bed home in Sudbury in the Axium JV in Q1; • Sold our 256-bed Orleans project into the Axium JV post Q1, generating $20.1M in net
Slide 7: Financial review Q1 2024
WOME] cae Financial review Q1 2024 od Extendicare SP Resist Extendicare Par
Slide 8: Consolidated results
Consolidated results Three months ended March 31, 2024 ($ millions, except per share amounts) Q1 Q1 • One-time and out-of-period funding and compensation costs impacted 2024 2023 Change Q1 results (Revenue $23.4M and NOI $9.8M) Revenue $367.1 $324.7 13.1% • LTC out-of-period revenue of $9.8M, includ
Slide 9: Long-term care
Long-term care Inflationary cost pressures weighing on margins; announced rate increases in Ontario to provide relief starting in Q2 • Q1 2024 included $9.8M of out-of-period revenue recognized in the quarter, of Revenue which $9.2M related to one-time funding to support Ontario LTC homes with capit
Slide 10: Home health care
Home health care Staffing capacity continues to improve, driving volume growth and NOI improvement Revenue • Q1 2024 included $13.6M of one-time revenue and offsetting operating expenses recognized in the quarter related to one-time compensation payments to Q1 2024 $143.5M 33.6% all home health care
Slide 11: Managed services | Extendicare Assist and SGP
Managed services | Extendicare Assist and SGP New client wins and strategic transactions drive significant growth Revenue • Q1 revenue up $7.4M due largely to addition of Revera and Q1 2024 $17.1M 76.5% Axium joint venture homes and organic growth in SGP clients NOI • Q1 NOI up $4.3M and on revenue
Slide 12: Strong financial position
Strong financial position $159.0M in liquidity at Q1; additional $29.5M generated post-Q1 with redevelopment transactions and LC step down As at March 31, 2024 Debt metrics Debt metrics (including 15% JV(2) share) Long-term TTM Available Long-term debt(1) TTM Adjusted Weighted Adjusted Weighted Cash
Slide 13: Strategic direction: Helping people live better
Strategic direction Canada’s leader in Establish & leverage partnerships seniors’ care services: with other care providers to better long-term care & integrate seniors’ care with the rest of home care the health system Use technology to improve Helping Known for communications & leverage data analyt
Slide 14: Appendix
Appendix 14
Slide 15: Adjustments to Revenue, EBITDA and AFFO
Adjustments to Revenue, EBITDA and AFFO Three months ended March 31, 2024 ($ millions, except per share amounts) Impact of select items on Revenue, Adjusted EBITDA and AFFO/basic share(1) Q1 Q1 YoY Impact on: 2024 2023 Change Revenue Prior period funding Long-term care $9.8 $6.6 $3.2 Home health car
Slide 16: Extendicare
Extendicare Managed Services and Home Health Care TTM NOI represent 51.5% of consolidated NOI Direct services to seniors NOI contribution by segment Long-term care Home health care Managed services Long-term care Home health care 32.1% 52 10.2M TTM 48.5% Q1 2024 Long-term care Home health care $151.
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