Slide 1: Growing Together Q3 2024 Conference Call
o/s for new pictures Q2 Growing Together Q3 2024 Conference Call November 13, 2024
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- the securities regulatory authorities, available at looking statements reflect the Company’s current www.sedarplus.ca and on Extendicare’s website at This presentation cont
Slide 3: Q3 Highlights
Q3 Highlights Financial and operational highlights Financial highlights Operational highlights Adjusted Divisional NOI Q3 Q3 Margins(1) 2024 2023 LTC occupancy up 60 bps to 98.4% Long-term care 11.4% 8.7% +270 bps 10.2% YoY increase in home health care Home health care 11.3% 9.8% +150 bps average da
Slide 4: Strategic Shift to Services Drives Q3 Performance
Strategic Shift to Services Drives Q3 Performance Continued momentum in services segments; redevelopment supported by Axium JV Growth in Services LTC Redevelopment Strong Balance Sheet Q3 vs PY in Axium JVs enhancing capital flexibility Managed Home Health Began construction on new 256-bed $231M in
Slide 5: Continued progress in LTC redevelopment
Continued progress in LTC redevelopment Six homes under construction; two more targeted to start construction by year end • Commenced construction on a new 256-bed home in St. Catharines to replace nearby 152 C bed home (opening Q1-27) • 6 LTC homes under construction; 5 in the Axium JVs and the 6th
Slide 6: Financial Review
Financial Review Q3 2024
Slide 7: Strong financial position
Strong financial position New $275M senior secured credit facility enhances flexibility; $126.5M convertible debenture to be redeemed in Q4 Debt Metrics(2) 37.5% As at September 30, 2024 35.4% 36.8% 35.7% 35.6% 34.1% 33.9% Long-term 33.0% Available Demand Long-term Cash debt(1) Facilities debt(1) 6.
Slide 8: Consolidated results
Consolidated results Q3 2024 ($ millions, except per share amounts) • Q3 results include out-of-period LTC funding of Q3 2024 vs PY $1.8M for Alberta and Manitoba reflecting April 1, 2024 funding increases(1) Revenue NOI $359.1 +$36.5 $50.1 +$14.9 • Q3 revenue up $36.5M, driven primarily by LTC and
Slide 9: Long-term care
Long-term care Funding increases, improved occupancy and reduced agency costs continue to drive strong results NOI Margin % (1) • Q3 results include $1.8M of out-of-period revenue 20% (retroactive funding for Alberta and Manitoba LTC homes) 15% • Q3 revenue up $10.1M; up $8.3M(2) excluding out-of-pe
Slide 10: Home health care
Home health care Volumes increased in Q3 despite softer seasonal demand; volumes and rate increases continued to drive NOI growth ADV and Adjusted NOI Margin %(1) • Q3 volume growth outweighed seasonal softness, 14% 12% 12.6% 11.3% 32,000 9.8% 8.3% 30,000 helping to maintain strong margins 8.6% 8.8%
Slide 11: Managed services Extendicare Assist and SGP
Managed services Extendicare Assist and SGP Organic growth in SGP clients driving strong performance SGP (3rd party and JV beds) • Q3 revenue up $6.1M largely driven by the addition of 150,000 125,000 Revera and Axium joint venture homes and organic growth in SGP clients 100,000 • Q3 NOI up $2.9M on
Slide 12: Meeting the needs of a growing demographic
Meeting the needs of a growing demographic Compelling growth opportunities in long-term care and home health care Canadian Population 85+ • Building new LTC homes to address the increased need 3.0 for long-term care 2.79 2.5 o Seniors aged 85+ increasing at ~4% per year(1) 3x o LTC waitlist of more
Slide 13: Appendix
o/s for new pictures Q2 Appendix
Slide 14: Adjustments to revenue, EBITDA and AFFO
Adjustments to revenue, EBITDA and AFFO Three and nine months ended September 30, 2024 ($ millions, except per share amounts) • Q3 results impacted by out-of-period LTC funding of Impact of select items on Revenue, Adjusted EBITDA and $1.8M related to Alberta and Manitoba funding AFFO/basic share(1)
Slide 15: Adjusted NOI by division
Adjusted NOI by division(1) Three and nine months ended September 30, 2024 ($ millions) Long-term care NOI and margin(1) Home health care NOI and margin(1) Q3 Q3 YTD YTD Q3 Q3 YTD YTD 2024 2023 Change 2024 2023 Change 2024 2023 Change 2024 2023 Change $22.8 $16.6 37.3% $61.6 $45.6 35.3% $15.6 $11.6
Slide 16: Services-focused growth
Services-focused growth Strong growth in services represented ~53% of TTM Q3 adjusted consolidated NOI Direct services to seniors NOI contribution by segment(1) TTM Q3 2024 Adjusted NOI(1) $174.2M Long-term care Home health care 47.2% 52 Home Long-term care homes owned 10.7M health care hours delive
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