Slide 1: Growing Together
Cover Option Growing Together Q2 2025 Conference Call August 6, 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 Q2 2025 This presentation contains forward-
Slide 3: Q2 growth highlights
Q2 growth highlights Adjusted EBITDA excluding out-of-period items increased by 15.4% to $39.8 million Financial highlights Q2 Q2 Adjusted EBITDA Operational highlights 2025 2024 Reported $39.8M $38.6M +3.0% 10.9% YoY increase in home health care ADV Excluding out-of-period items(1) $39.8M $34.5M +1
Slide 4: Acquired nine LTC homes from Revera
Acquired nine LTC homes from Revera Transaction closed June 1 • Cash consideration of $41.9M and assumption of certain liabilities of $27.4M • Adds 822 LTC and 574 private pay retirement beds to the LTC segment(1) • Adds 6 new LTC homes, ~1,100 beds to our development pipeline • Separately, on May 1
Slide 5: Acquired Closing the Gap
Acquired Closing the Gap Transaction closed July 1 • Cash consideration of $75.1M • Adds ~1.1M service hours annually (~3,109 ADV) in Ontario and Nova Scotia (~10% increase in our home health volumes) • Expected to add ~$84.2M and ~$9.8M in Revenue and NOI, respectively to home health segment or AFF
Slide 6: Building for the future
Building for the future Completed the sale of three projects to Axium JV • Completed sale of 3 LTC projects to the Axium JV (London, Port Stanley and St. Catharines; 576 beds); generating $56.3M in net proceeds and $11.1M after-tax gain and recycling capital to fund new redevelopment projects Estima
Slide 7: Financial Review
PROTECT ONTARIO Financial Extend
Slide 8: Consolidated results
Consolidated results Q2 2025 • Out-of-period items recognized in Q2 2024(1) • LTC revenue and NOI of $4.1M (nil in 2025 vs $4.1M in 2024) Q2 2025 vs Q2 2024 • Q2 revenue up $35.0M; up $39.1M excluding out-of-period Revenue NOI items, driven primarily by home health care volume growth and $383.4M +$3
Slide 9: Home health care
Home health care Strong growth in volumes and Q4-24 rate increases driving higher NOI margins ADV and Adjusted NOI Margin %(1) 16% 13.5% 36,000 14% 12.6% 10.3% 34,000 11.3% 10.4% • Q2 revenue up $22.3M, reflecting 10.9% growth in ADV 12% 10% 9.8% 8.8% 8.3% 32,000 30,000 and rate increases 8% 6% 28,0
Slide 10: Long-term care
Long-term care Growth fueled by funding increases and the impact of the LTC acquisition NOI Margin % (1) 15% • Out-of-period items recognized in Q2 2024(2) • Revenue and NOI of $4.1M (nil in 2025 vs $4.1M in 2024) 11.6% • Q2 revenue up $12.9M; up $17.1M excluding out-of-period 10% 11.3% 11.4% 10.0%
Slide 11: Managed services Extendicare Assist and SGP
Managed services Extendicare Assist and SGP 5.9% organic growth in SGP client base offset by Revera sale of Class C LTC homes managed by Assist SGP (3rd party and JV beds) 175,000 • Q2 revenue down $0.3M largely driven by Revera’s sale 150,000 of its 30 Class C LTC homes (9 to Extendicare, 21 to a 1
Slide 12: Strong liquidity and credit metrics
Strong liquidity and credit metrics Increased credit facility replenishes liquidity following acquisitions maintaining flexibility to pursue growth opportunities Debt Metrics(3) 7.4x As at June 30, 2025 35.7% 35.6% 6.5x 7.1x 34.1% 33.9% Available 33.0% Long-term Long-term Cash(1) Revolving debt(2) d
Slide 13: 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 14: Appendix
Appendix Extendicare
Slide 15: Adjustments to revenue, EBITDA and AFFO
Adjustments to revenue, EBITDA and AFFO Three and six months ended June 30, 2025 Impact of out-of-period items on Revenue, • Q2 2024 results impacted by out-of-period LTC funding of $4.1M Adjusted EBITDA and AFFO/basic share(1) • YTD 2025 results impacted by out-of-period funding and costs, Q2 Q2 an
Slide 16: Adjusted NOI by division
Adjusted NOI by division(1) Three and six months ended June 30, 2025 Long-term care NOI and margin(1) Home health care NOI and margin(1) Q2 Q2 YTD YTD Q2 Q2 YTD YTD 2025 2024 Change 2025 2024 Change 2025 2024 Change 2025 2024 Change $23.9M $21.5M +11.4% $42.4M $37.0M +14.7% $21.4M $17.1M +25.1% $36.
Slide 17: Services-focused growth
Services-focused growth Services represented ~55% of TTM Q2 2025 adjusted NOI Direct care for seniors NOI contribution by segment(1) Home health care TTM Q2 2025 Adjusted NOI(1) $198.9M Long-term care Managed 59 Home 11.5M Home health care 20.0% Long-term care health care $69.3M 34.8% services $39.8
Slide 18: Nine LTC homes acquired from Revera June 1, 2025
Nine LTC homes acquired from Revera June 1, 2025 Retirement Home Name Address LTC Beds(1) Beds Blenheim Community Village Blenheim, ON 57 30 Brierwood Gardens Brantford, ON 67 71 Riverbend Place Cambridge, ON 39 92 Summit Place Owen Sound, ON 99 77 Telfer Place Paris, ON 35 180 Village on the Ridge
Slide 19: Helping people live better
Helping people live better