Slide 1: Caring for seniors today, growing for tomorrow
Caring for seniors today, growing for tomorrow Q4 2022 RESULTS Conference Call March 3, 2023
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 Management’s Discussion and Analysis filed by by the expressions “anticipate”, “believe”, Extendicare with the securities regulatory This presentation contains forward-looki
Slide 3: COVID-19 update
COVID-19 update Persistent COVID-19 outbreaks during Q4 drove higher costs and tempered occupancy recovery • Vaccines continue to mitigate the impact on LTC residents • Endemic COVID-19 in the community continued to drive elevated operating costs; over 80% of our owned LTC homes experienced an outbr
Slide 4: Progress on strategic repositioning
Progress on strategic repositioning Advanced strategy to drive services growth using a less capital intensive approach; successful sale of retirement operations provided opportunity to return value to shareholders through NCIB and invest in LTC redevelopment Completed sale of retirement portfolio an
Slide 5: Long-term care redevelopment gaining momentum
Long-term care redevelopment gaining momentum Enhancement to the capital funding program in Ontario addresses inflationary and interest rate pressures • Our redevelopment program includes 20 projects with 4,248 beds awarded by the Ontario government, replacing 3,285 Class C beds and adding 963 new b
Slide 6: Q4 2022 highlights
Q4 2022 highlights • Sequential improvement in LTC occupancy despite persistent outbreaks, emerging endemic status of COVID-19 • Government funding for LTC lagging inflation; adjusted LTC NOI margins down 190 bps to 8.9%(1) YoY • Sequential improvement of 2.0% in home health care volumes with modest
Slide 7: Financial review
Financial review Q4 2022 Extendicare ParoMled “assist SS Better alltogether
Slide 8: Consolidated results
Consolidated results Three and twelve months ended December 31, 2022 ($ millions, except per share amounts) Q4 Q4 YTD YTD Impact of Select Items on Adjusted EBITDA and 2022 2021 Change 2022 2021 Change AFFO/Basic Share(2)(3) Q4 Q4 YTD YTD Revenue(1) $310.4 $306.2 1.4% $1,221.6 $1,167.0 4.7% Impact o
Slide 9: Long-term care
Long-term care Three and twelve months ended December 31, 2022 Revenue • Q4 revenue up $3.9M due to funding enhancements, including Ontario flow-through funding of $13.3M and prior period funding adjustments of $2.2M, partially offset by lower COVID-19 Q4 2022 $193.4M 2.0% funding of $13.0M YTD 2022
Slide 10: Home health care
Home health care Three and twelve months ended December 31, 2022 Revenue • Q4 revenue down $1.3M due to lower COVID-19 funding of $7.8M; revenue Q4 2022 $108.4M -1.2% otherwise up $6.5M reflecting billing rate increases and $6.8M PSW wage YTD 2022 $421.6M 2.7% enhancement funding, partially offset b
Slide 11: Managed services | Extendicare Assist and SGP
Managed services(1) | Extendicare Assist and SGP Three and twelve months ended December 31, 2022 Revenue • Q4 revenue up $1.7M due to timing and mix of Assist services and Q4 2022 $8.6M 24.0% growth in SGP clients YTD 2022 $32.8M 18.2% NOI • Q4 NOI up $0.5M on revenue growth partially offset by incr
Slide 12: Strong financial position
Strong financial position December 31, 2022 Available Undrawn TTM Adjusted Demand Construction Long-term EBITDA interest Debt to Weighted Cash Facilities Financing(2) Debt(1) coverage GBV average rate $167M $77M $123M $391M Q4 2022 2.6x 35.2% 5.5% Q4 2021 3.5x 44.9% 4.3% Debt Maturities ($ millions)
Slide 13: Extendicare: services that cross the care continuum
Extendicare Services that cross the care continuum Direct services to seniors Managed services(3) Long-term care Home health care Management and Group purchasing consulting services services 53 9.2M 50 110K Long-term care Home health care Homes under Third-party homes owned hours delivered (TTM) con
Slide 14: Thank you
Thank you Extend ParaNled EXTENDICARE'+ Redefining Care Better all together
Slide 15: Appendix
Appendix Extendicare ParaMled SBssist SP lar Better alltogether
Slide 16: Strategic repositioning
Strategic repositioning Revera and Axium transactions drive services growth using a less capital intensive approach • Add scale in higher-margin managed Revera Transaction Axium JV services with the addition of management Adds 56 LTC homes and ~7,000 Established to acquire fees for 56 LTC homes and
Slide 17: Estimated COVID-19 revenue, operating expenses and administrative costs
Estimated COVID-19 revenue, operating expenses and administrative costs Three and twelve months ended December 31, 2022 2022 2021 2020 (millions of dollars) Q4 Q3 Q2 Q1 Year Q4 Q3 Q2 Q1 Year Year Revenue Long-term care 14.4 18.7 17.0 43.1 93.2 27.4 23.3 24.7 45.8 121.2 62.5 Home health care 0.9 3.3
Slide 18: Results – NOI by division
Results – NOI by division(1) Three and twelve months ended December 31, 2022 ($ millions) Long-term Care NOI and Margin(1) Home Health Care NOI and Margin(1) Q4 Q4 YTD YTD Q4 Q4 YTD YTD 2022 2021 Change 2022 2021 Change 2022 2021 Change 2022 2021 Change $15.7 $17.4 -9.6% $57.5 $64.3 -10.5% $7.1 $8.5
Slide 19: Helping people live better
Helping people live better