Slide 1: Caring for seniors today, growing for tomorrow
Caring for seniors today, growing for tomorrow Q2 2022 Results Conference Call August 10, 2022
Slide 2: Forward-looking Statements and Non-GAAP Measures
Forward-looking Statements and Non-GAAP Measures Forward-looking Statements the Company’s current expectations regarding future it is difficult to predict how significant the adverse impact results, performance or achievements and are based upon will be on the global and domestic economy and the Thi
Slide 3: COVID-19 Update
COVID-19 Update Seventh wave emerged at quarter end • Declining community transmission and fewer outbreaks in Q2 led to improvement in LTC occupancy and home health care volumes • New, highly contagious subvariants emerged in late June • 15 LTC homes are in outbreak(1) • Staff absenteeism peaked in
Slide 4: Strategic Repositioning
Strategic Repositioning Positioning Extendicare to deliver growth using a less capital intensive approach We are repositioning to focus on long-term care and home health care and leverage our deep expertise and scale to drive improved performance and high-quality care for seniors across Canada Compl
Slide 5: Long-term Care Redevelopment
Long-term Care Redevelopment Committed to Redevelopment; working through inflation challenges • Awarded 20 projects with 4,248 beds, replacing 3,285 Class C beds across Ontario • Three projects currently under construction in Sudbury, Kingston and Stittsville with total of 704 beds and net investmen
Slide 6: 2022 Second Quarter Highlights
2022 Second Quarter Highlights • Fewer LTC outbreaks and declining staff absenteeism in Q2 led to sequential improvement in LTC occupancy and home care volumes • Solid growth in our SGP customer base continued vs. Q2 vs. Q1 2021 2022 LTC Occupancy +450 bps +160 bps Home Health Care ADV -0.4% +2.5% S
Slide 7: Financial Review
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Slide 8: Consolidated Results
Consolidated Results Three and six months ended June 30, 2022 ($ millions, except per share amounts) Q2 Q2 YTD YTD 2022 2021 Change 2022 2021 Change Impact of Select Items on Adjusted EBITDA and AFFO/Basic Share(2)(3) Revenue(1) $296.6 $281.7 5.3% $602.3 $576.6 4.5% Q2 Q2 YTD YTD Impact on: 2022 202
Slide 9: Long-term Care
Long-term Care Three and six months ended June 30, 2022 Revenue • Q2 revenue up $7.9M Ontario flow-through funding up $14.7M, partially offset by Q2 2022 $181.6M 4.6% lower COVID-19 funding of $7.7M YTD 2022 $381.4M 4.9% • Q2 NOI up $6.5M Higher net COVID recovery of $6.3M, funding increases and WSI
Slide 10: Home Health Care
Home Health Care Three and six months ended June 30, 2022 Revenue • Q2 revenue up $5.7M Billing rate increases, including $4.4M PSW wage enhancement, partially offset by lower COVID-19 funding of $3.3M and decline in ADV Q2 2022 $106.8M 5.6% • Q2 NOI (excluding CEWS) up $1.9M Billing rate increases
Slide 11: Other Operations
Other Operations Three and six months ended June 30, 2022 Revenue • Q2 revenue up $1.3M Growth in SGP clients and Assist consulting Q2 2022 $8.2M 18.7% services revenue YTD 2022 $15.4M 7.9% • Q2 NOI up $0.8M Timing and mix of Assist consulting revenue NOI growth partially offset by increased staff a
Slide 12: Strong Financial Position
Strong Financial Position As at June 30, 2022 Undrawn TTM Adjusted Weighted Long-term Construction EBITDA interest Debt average Cash Debt(1) Financing(2) coverage to GBV rate $238M $372M $146M Q2 2022 3.6x 34.5% 5.3% Q4 2021 3.5x 45.5% 4.3% Debt Maturities ($ millions) Mortgage/Loan Principal at Mat
Slide 13: Compelling Growth Opportunities in Long-term Care and Home Care
Compelling Growth Opportunities in Long-term Care and Home Care Direct services to seniors LONG-TERM CARE HOME HEALTH CARE 58 9.2M Long-term care Home health care homes owned hours delivered (TTM) Management, consulting and purchasing services GROUP PURCHASING MANAGEMENT SERVICES SERVICES AND CONSUL
Slide 14: Thank You
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Slide 15: Appendix
Appendix Appendix
Slide 16: Strategic Repositioning
Strategic Repositioning Agreements with Revera & Axium(1) to Drive Growth in LTC and Management Services Revera Management Contract and 15% Axium JV Interest Axium JV for Redevelopment Development Pipeline Acquisition of 15% managed interest in Extendicare to manage 32 homes Extendicare-Axium JV for
Slide 17: Estimated COVID-19 Revenue, Operating Expenses and Administrative Costs
Estimated COVID-19 Revenue, Operating Expenses and Administrative Costs Three and six months ended June 30, 2022 2022 2021 2020 (millions of dollars) Q2 Q1 YTDQ2 Q4 Q3 Q2 Q1 YTDQ2 Year Year Revenue Long-term care 17.0 43.1 60.1 27.4 23.3 24.7 45.8 70.5 121.2 62.5 Home health care 4.5 7.6 12.1 8.7 7.
Slide 18: Results From Discontinued Operations
Results From Discontinued Operations Six months ended June 30, 2022 Six months ended June 30 Twelve months ended December 31 2022 2021 2021 Retirement SK LTC Retirement SK LTC Total Retirement SK LTC (thousands of dollars unless otherwise noted) Living Homes Total Living Homes Total Change Living Ho
Slide 19: Results – NOI by Division
Results – NOI by Division(1) Three and six months ended June 30, 2022 ($ millions) Long-term Care NOI and Margin (1) Home Health Care NOI and Margin (1) Q2 Q2 YTD YTD Q2 Q2 YTD YTD 2022 2021 Change 2022 2021 Change 2022 2021 Change 2022 2021 Change $15.0 $16.5 -9.4% $27.8 $31.4 -11.6% $7.5 $7.3 1.9%