Slide 1: Growing together for a bright future
Growing together for a bright future Q1 2023 RESULTS Conference Call May 5, 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: End of pandemic funding and easing of COVID protocols marks endemic transition
End of pandemic funding and easing of COVID protocols marks endemic transition • Pandemic funding ended March 31, 2023 in Ontario and Manitoba, and Alberta to end June 30, 2023 • Ontario April 1, 2023 increase in care funding will support costs associated with ongoing infection control protocols • Q
Slide 4: Progress on strategic initiatives
Progress on strategic initiatives Close of the Revera and Axium transactions will mark a key milestone on our path to strategic transformation Revera and Axium transactions • Progress through regulatory approvals process continues; anticipate closing in Q3 2023 • Advancing comprehensive integration
Slide 5: Long-term care redevelopment gaining momentum
Long-term care redevelopment gaining momentum Construction to start on fourth redevelopment project in Peterborough • Received approval to build new 256-bed LTC home in Peterborough; expect construction to begin in Q2 2023 for completion in Q4 2025 • Working to start construction on up to three addi
Slide 6: Q1 2023 operating highlights
Q1 2023 operating highlights • Further improvement in LTC occupancy as outbreaks waned • Sequential increase of 2.0% in home health care volumes due to improved recruiting and retention • Continued strong growth in the SGP customer base vs. Q1 vs. Q4 2022 2022 LTC occupancy +430 bps +60 bps Home hea
Slide 7: Financial review
Financial review Q1 2023 Extendicare ParalMled "assist «= Better alltogether
Slide 8: Consolidated results
Consolidated results Three months ended March 31, 2023 ($ millions, except per share amounts) • NOI improvement driven by recovery of COVID-19 costs, prior Q1 Q1 period LTC funding, home health care ADV growth and billing 2023 2022 Change rate increases and growth in managed services Revenue(1) $324
Slide 9: Long-term care
Long-term care Three months ended March 31, 2023 Revenue • Q1 revenue up $7.8M due to funding enhancements and timing of spend, including Ontario flow- through funding of $16.2M, improvements in occupancy, and prior period funding adjustments of Q1 2023 $207.6M 3.9% $3.7M, partially offset by lower
Slide 10: Home health care
Home health care Three months ended March 31, 2023 Revenue • Q1 revenue up $8.8M reflecting 6.1% increase in ADV, billing rate increases and $6.5M Q1 2023 $107.4M 8.9% PSW wage enhancement funding, partially offset by lower COVID-19 funding of $6.9M NOI, as reported • Q1 NOI up $3.7M reflecting high
Slide 11: Managed services | Extendicare Assist and SGP
Managed services | Extendicare Assist and SGP Three ended March 31, 2023 Revenue • Q1 revenue up $2.4M due to timing and mix of Assist consulting services and growth in SGP clients Q1 2023 $9.7M 33.4% • Q1 NOI up $0.7M on revenue growth, partially offset by higher costs NOI related to mix of Assist
Slide 12: Strong financial position
Strong financial position March 31, 2023 Available Undrawn TTM Adjusted Demand Construction Long-term EBITDA interest Debt to Weighted Cash Facilities Financing(2) Debt(1) coverage GBV average rate $105M $77M $107M $403M Q1 2023 3.0x 37.5% 5.7% Q4 2022 2.6x 35.4% 5.5% Debt Maturities ($ millions) Mo
Slide 13: Extendicare: services that cross the care continuum
Extendicare Services that cross the care continuum Direct services to seniors Managed services Long-term care Home health care Management and Group purchasing consulting services services 53 9.3M 50 112K Long-term care Home health care Homes under Third-party homes owned hours delivered (TTM) contra
Slide 14: Thank you
ou ‘Noa ——— + nas Extend ParaMied et Redefining Care ‘Management & Consulting Services Better all together’
Slide 15: Appendix
Appendix Extendicare ParoMled “Begjgp SP leir Redefining Care 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 months ended March 31, 2023 2023 2022 2021 2020 (millions of dollars) Q1 Q4 Q3 Q2 Q1 Year Year Year Revenue Long-term care 24.1 14.4 18.7 17.0 43.1 93.2 121.2 62.5 Home health care 0.7 0.9 3.3 4.5 7.6 16.3 33.0 23.6 Revenu
Slide 18: Results – NOI by division
Results – NOI by division(1) Three months ended March 31, 2023 ($ millions) Long-term Care NOI and Margin(1) Home Health Care NOI and Margin(1) Q1 Q1 Q1 Q1 2023 2022 Change 2023 2022 Change $15.1 $12.8 17.5% $6.4 $5.0 29.4% 8.5% 8.3% 20 bps 6.0% 5.5% 50 bps Average Occupancy Average Daily Volume ("A
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