Slides
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Extendicare Growing Together Q2 2026 Conference Call August 7 , 2026 Extendicare
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Forward-looking Statements This presentation contains forward-looking statements within the meaning of applicable Canadian securities laws (“forward-looking statements” or “forward-looking information”). Statements other than statements of historical fact contained in this presentation may be forward-looking statements, including, without limitation, management’s expectations, intentions and beliefs concerning anticipated future events, results, circumstances, economic performance or expectations with respect to Extendicare Inc. (the “Company” or “Extendicare”), including, without limitation: statements regarding dividend levels, its business operations, business strategy, growth strategy, results of operations and financial condition, including anticipated timelines and costs in respect of development projects; statements relating to the acquisition of CBI Home Health LP and CBI (GP) 3 Inc. and their respective subsidiaries (collectively, “CBI Home Health”), from CBI Health LP and CBI GP Holdco Inc., including the anticipated benefits of the acquisition, the integration and anticipated post-closing acquisition synergies and the timing of those synergies; statements relating to the acquisition of Closing the Gap Healthcare Group Inc. and certain affiliates (collectively, “Closing the Gap; statements relating to the agreements entered into with Axium LTC Limited Partnership and its affiliates (“collectively, Axium”) and two limited partnership joint ventures with Axium in respect of the acquisition, disposition, ownership, operation and redevelopment of LTC homes in Ontario and Manitoba; and statements relating to expected future current income taxes and maintenance capex impacting AFFO. Forward-looking statements can often be identified by the expressions “anticipate”, “believe”, “estimate”, “expect”, “intend”, “objective”, “plan”, “project”, “will”, “may”, “should” or other similar expressions or the negative thereof. These forward- looking statements reflect the Company’s current expectations regarding future results, performance or achievements and are based upon information currently available to the Company and on assumptions that the Company believes are reasonable. Actual results and developments may differ materially from results and developments discussed in the forward-looking statements, as they are subject to a number of risks and uncertainties. Although forward-looking statements are based upon estimates and assumptions that the Company believes are reasonable based upon information currently available, these statements are not representations or guarantees of future results, performance or achievements of the Company and are inherently subject to significant business, economic and competitive uncertainties and contingencies and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Extendicare to differ materially from those expressed or implied in the statements. For further information on the risks, uncertainties and assumptions that could cause Extendicare’s actual results to differ from current expectations, refer to “Risks and Uncertainties” and “Forward-looking Statements” in Extendicare’s Q2 2026 Management’s Discussion and Analysis “MD&A” and latest Annual Information Form filed by Extendicare with the securities regulatory authorities, available at www.sedarplus.ca and on Extendicare’s website at www.extendicare.com. Readers should not place undue reliance on such forward-looking statements and assumptions as management cannot provide assurance that actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. The forward- looking statements speak only as of the date of this presentation. Except as required by applicable securities laws, the Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Non-GAAP Measures This presentation makes reference to certain non-International Financial Reporting Standards (“IFRS”) measures (“Non-GAAP”), Non-GAAP ratios and supplementary financial measures to evaluate the performance of the Company. The terms “EBITDA”, “Adjusted EBITDA”, “net operating income” (“NOI”), “adjusted NOI”, “home health care adjusted NOI”, “LTC adjusted NOI”, “managed services NOI”, and “adjusted funds from operations” (“AFFO”), including any related per share amounts, are Non- GAAP financial measures; the term “Adjusted EBITDA margin”, “NOI margin”, “home health care NOI margin”, “LTC NOI margin”, “managed services NOI margin”, “payout ratio”, “interest coverage ratio”, “debt to Adjusted EBITDA” and “pro forma debt to Adjusted EBITDA” are Non-GAAP ratios; and “debt to GBV” is a supplementary financial measure, all of which do not have any standardized meaning prescribed within IFRS and therefore may not be comparable to similar measures presented by other companies. Investors are cautioned that such measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Management believes that the Non-GAAP financial measures provide a more consistent basis to compare the performance of the Company between the periods and improve comparability between other companies. They provide additional information to readers of this presentation to enhance their understanding of the Company’s financial performance. These measures are also used by the Company to set financial targets for its management incentive plans and to monitor the Company’s compliance with its debt covenants. For further information regarding these Non- GAAP measures and applicable reconciliations, please refer to “Non-GAAP Measures”, “Funds From Operations and Adjusted Funds From Operations” and “Select Quarterly Financial Information” of our management’s discussion and analysis for the fiscal years ended December 31, 2025 and December 31, 2024 and for the quarter ended June 30, 2026, each of which are available on Extendicare’s profile on SEDAR+ at www.sedarplus.ca and on Extendicare’s website at www.extendicare.com, which are incorporated by reference in this presentation. 2 Cautionary statement
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Q2 highlights Adjusted EBITDA(1) increased by 71.7% to $68.3M, including $18.5M from the CBI Home Health acquisition 3 Operational highlights 132.6% YoY increase in home health care ADV from acquisitions and continued strong organic growth 8.3% YoY increase in SGP customer base TTM Payout ratio 37%(1)(2) Opened Extendicare Beauclaire (320-beds, Ottawa) in Axium JV II Transaction highlights Closed acquisition of CBI Home Health ($570M) Inaugural offering of senior unsecured notes ($450M at 4.345% due April 2031, BBB stable) Sale of 320-bed Sudbury redevelopment project to Axium JV for net cash proceeds of $18.1M (1) “Adjusted EBITDA” is a Non-GAAP financial measure and “NOI Margin” is a Non-GAAP ratio. See “Cautionary Statement – Non-GAAP Financial Measures” in this presentation for a definition of this measure and certain related information (2) Payout ratio based on trailing twelve months (“TTM”) ended June 30, 2026, adjusted for the impact of out of period items (refer to slide 16 for details) Financial highlights Adjusted EBITDA(1) Q2 Q2 2026 2025 Reported $68.3M $39.8M +71.7% Divisional NOI Margins(1) Reported Q2 Q2 2026 2025 Home health care 12.9% 13.5% -60 bps Long-term care 12.7% 11.6% +110 bps Managed services 57.6% 54.3% +330 bps
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Closed CBI Home Health acquisition CBI Adjusted EBITDA $69.6M for FY2025 ~12.4% ahead of announcement pro forma • $570 million acquisition of CBI Home Health closed April 1, 2026, making ParaMed the leading home health care platform in Canada • Advances our services focused strategy and highly complementary to ParaMed, with substantial presence in Western Canada and opportunities for significant synergies • CBI FY2025 Adjusted EBITDA was $69.6M, up ~12.4% from $61.9M pro forma when we announced the transaction • CBI Q2 2026 Adjusted EBITDA was $18.5M • Q2 2026 ADV of 33,609 reflects organic growth in CBI comparable to ParaMed (1) CBI Home Health results on a standalone basis for the year ended December 31, 2025, adjusted for estimated IFRS 16 lease accounting adjustments of $5.5M, net of Extendicare Quality of Earnings (“QoE”) EBITDA adjustments of $3.3M and excludes approximately $15.0M in out of period adjustments for retroactive funding and workers compensation rebates related to prior periods. (further details can be found on Extendicare’s press release issued on May 12, 2026 and the Business Acquisition Report (“BAR Report”) filed on SEDAR+ at www.sedarplus.com) $504M Revenue(1) (FY 2025) $69.6M Adjusted EBITDA(1) (FY2025) ~12M hours Annual Volume (Annualized Q2 2026 ADV 33,609) ~8.5k Team Members 4
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Building for the future Advanced redevelopment program with opening of 320-bed home in Ottawa and sale of 320-bed Sudbury project into the Axium JV 5 (1) Development costs are defined on an IFRS basis (which includes the cost of land, hard construction and soft development costs, furniture, fixtures and equipment, financing costs and capitalized interest costs during construction), net of any capital development government grant receivable on substantial completion of construction, if applicable Upgrading our portfolio quality, driving management fee growth Six LTC homes (1,408 new beds) under construction in Axium JV to replace 1,072 Class C beds Opened Extendicare Beauclaire (320-beds, Ottawa) in May 2026; scheduled to open Extendicare Forest Trail (256-beds, Peterborough) in Q3 2026 Target breaking ground on one project in Q4 2026 (256-beds, Ottawa) Pipeline of 17 projects representing more than ~3,700 beds replacing ~1,600 Class C beds Redevelopment funded via capital-efficient JV strategy Sold 320-bed Sudbury project into the Axium JV for $18.1M (net of 15% retained interest) in May 2026 Redevelopment projects # of beds # Class C beds replaced Expected opening Estimated development costs (1) ($ millions) Forest Trail (Peterborough) 256 172 Q3-26 106.0 Garneau Park (Orleans) 256 240 Q1-27 103.3 St. Catharines 256 152 Q1-27 106.4 Port Stanley 128 60 Q1-27 52.7 London 192 170 Q2-27 77.7 Sudbury 320 278 Q1-29 125.9 1,408 1,072 572.0 Forest TrailBeauclaire
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Financial Review Q2 2026
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Consolidated results Q2 2026 • Q2 revenue up $227.6M, driven primarily by the home health acquisitions and organic volume growth, as well as the acquisition of 9 LTC homes, partially offset by the closure of Carlingview Manor following the new home opening in Axium JV II; CBI Home Health contributed revenue of $145.7M • Q2 Adjusted EBITDA up $28.5M, reflecting revenue growth partially offset by higher operating and administrative costs; CBI Home Health contributed Adjusted EBITDA of $18.5M • Q2 AFFO/basic share up $0.089 to $0.382, reflecting increased after-tax earnings partially offset by payroll withholding taxes associated with the settlement of deferred share units, higher net interest costs and maintenance capex • Excluding the impact of payroll withholding taxes on the settlement of deferred share units, AFFO/basic share(2) improved by $0.155 or 52.9% to $0.448 per share 7 (1) “NOI” and “AFFO” are Non-GAAP financial measures. See “Cautionary Statement – Non-GAAP Financial Measures” in this presentation for a definition of this measure and certain related information (2) Refer to slide 16 for details and the impact of out-of-period items Q2 2026 vs Q2 2025 Reported Revenue NOI(1) $611.0M +$227.6M $86.2M +$31.2M +59.4% +56.8% Adjusted EBITDA Net earnings $68.3M +$28.5M $30.9M -$1.1M +71.7% -3.4% AFFO(1)/basic share Payout ratio $0.382 +$0.089 34% +30.4%
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Home health care ADV of 77,478 reflects full quarter contribution of CBI Home Health and continued strong organic growth • Q2 revenue up $201.7M, reflecting a 132.6% increase in ADV, driven by acquisitions and organic growth; CBI Home Health contributed ADV of 33,609 and revenue of $145.7M • Q2 NOI up $25.2M, reflecting revenue growth, partially offset by higher wages and benefits; CBI Home Health contributed NOI of $19.5M • Q2 NOI margin of 12.9%, down 60 bps from 13.5% in Q2 2025, due primarily to increased wages and benefits and technology costs for the back-office to support organic growth, with no home health care rate increase in Ontario for 2026 8 11.3% 10.4% 10.3% 13.5% 13.6% 13.2% 13.3% 12.9% 25,000 35,000 45,000 55,000 65,000 75,000 85,000 0% 5% 10% 15% Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Home Health Care ADV and Adjusted NOI Margin %(1)(2) ADV Adjusted NOI Margin (1) “NOI” and “adjusted NOI” are Non-GAAP financial measures and “home health care NOI margin” is a Non-GAAP ratio. See “Cautionary Statement – Non-GAAP Financial Measures” in this presentation for a definition of this measure and certain related information (2) Adjusted NOI margins excluding out-of-period retroactive bill rate increases ($4.4M in Q4 2024, $11.0M in Q1 2025 and $1.7M in Q1 2026), retroactive compensation costs ($11.0M in Q1 2025 and $0.9M in Q1 2026), and workers’ compensation rebates of $3.9M in Q1 2025 and $5.5M in Q4 2025 Revenue Q2 2026 $360.3M +127.2% YTD 2026 $565.8M +78.6% NOI Q2 2026 $46.7M +117.8% margin 12.9% -60 bps YTD 2026 $74.6M +84.2% margin 13.2% +40 bps Average daily volume ("ADV") Q2 2026 77,478 +132.6% YTD 2026 59,805 +84.2%
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Long-term care 2025 LTC acquisition and stable occupancy support 23.9% NOI growth • Q2 revenue up $26.5M, reflecting full quarter contribution from the 9-home LTC acquisition, net of the closure of Carlingview Manor (+$18.8M), following the opening of Extendicare Beauclaire in Axium JV II, funding increases and improved preferred occupancy • Q2 NOI up $5.7M, reflecting the 9-home LTC acquisition, net of the closure of Carlingview Manor (+$2.5M), funding increases and improved preferred occupancy, partially offset by higher operating costs • Q2 NOI margin of 12.7%, up 110 bps from 11.6% in Q2 2025; TTM Q2 2026 normalized NOI margin is ~11.8%(3) 9 11.4% 10.0% 9.4% 11.6% 11.8% 10.9% 10.3% 12.7% 5% 10% 15% Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Long-term Care NOI Margin %(1)(2)(3) As reported Adjusted to exclude out-of-period items (1) “NOI” and “adjusted NOI” are Non-GAAP financial measures and “long-term care NOI margin” is a Non-GAAP ratio. See “Cautionary Statement – Non-GAAP Financial Measures” in this presentation for a definition of this measure and certain related information (2) Adjusted NOI margins exclude out-of-period funding ($1.8M in Q3 2024, $1.9M in Q4 2024, $3.9M in Q3 2025, and $7.9M in Q1 2026), workers’ compensation rebates ($2.7M in Q1 2025 and $2.9M in Q4 2025) and retroactive union wage adjustments of $4.5M in Q4 2025 (3) Refer to slide 16 for details and the impact of out-of-period items Revenue Q2 2026 $233.6M +12.8% YTD 2026 $477.2M +17.8% NOI Q2 2026 $29.7M +23.9% margin 12.7% +110 bps YTD 2026 $61.9M +37.1% margin 13.0% +190 bps Average occupancy Q2 2026 98.0% -30 bps YTD 2026 97.7% -20 bps
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Managed services Extendicare Assist and SGP 8.3% organic growth in SGP clients offset by loss of Revera management contracts in 2025 • Q2 revenue down $0.6M, largely driven by Revera’s sale of 30 Class C LTC homes (9 to Extendicare and 21 to a third party) in Q2 2025, partially offset by organic growth in SGP clients and management fees from a newly opened home in Axium JV II • Q2 NOI up $0.2M, primarily driven by growth in SGP • Q2 NOI margins remain within the expected 50- 55% range • Q2 SGP beds up 8.3% from Q2 2025 10 75,000 100,000 125,000 150,000 175,000 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 SGP (3rd party and JV beds) Revenue Q2 2026 $17.1M -3.4% YTD 2026 $33.3M -8.3% NOI(1) Q2 2026 $9.9M +2.5% margin 57.6% +330 bps YTD 2026 $18.7M -4.3% margin 56.2% +230 bps Management contract beds Third party 1,792 -3.8% Joint venture 4,206 SGP 3rd party & joint venture beds Beds 161,654 +8.3%(1) “Managed services NOI” is a Non-GAAP financial measure and “managed services NOI margin” is a Non- GAAP ratio. See “Cautionary Statement – Non-GAAP Financial Measures” in this presentation for a definition of this measure and certain related information
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Senior unsecured credit structure established in Q2 Weighted average interest rate down 80bps and average maturity increased to 5.1 years Senior unsecured credit structure and mortgage prepayments completed in Q2 2026 add capital allocation flexibility through lower borrowing costs, improved maturity profile and lower mandatory repayments (1) Pro forma Consolidated Debt as at March 31, 2026, includes $153.7M drawn on the prior existing senior secured revolver and $154.5M of additional borrowing under the Senior Secured Delayed Draw Term Loan incurred to fund the CBI Home Health acquisition that closed on April 1, 2026. Consolidated Debt As at June 30, 2026 Pro Forma Consolidated Debt As at March 31, 2026 ('000s, unless otherwise noted) Interest Rate Year of Maturity June 30, 2026 Interest Rate Year of Maturity Pro Forma March 31, 2026 CMHC mortgages, fixed rate 2.65% - 3.35% 2026 - 2032 $ 18,692 2.65% -7.70% 2026-2037 $ 32,867 Non-CMHC mortgages and loans 5.56% - 5.64% 2038 $ 46,206 5.05% - 5.64% 2027-2038 $ 89,496 Lease liabilities 4.27% - 5.50% 2026 - 2033 $ 32,723 4.27% - 5.50% 2026-2033 $ 16,141 Senior Unsecured Notes (BBB stable) 4.35% 2031 $ 450,000 - - $ - Senior Unsecured Revolver 4.27% 2029 $ 103,700 - - $ - Senior Secured Revolver - - $ - 5.15% 2027 $ 153,700 CMHC mortgages, variable rate - - $ - Variable 2027 $ 18,860 Senior Secured Delayed Draw Term Loan - - $ - 5.30% 2027 $ 327,688 Total debt, before deferred financing costs $ 651,321 $ 638,752 Weighted average interest rate 4.4% 5.2% Weighted average term to maturity (years) 5.1 2.9 11
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Strong liquidity and credit metrics Favourable maturity profile and pro forma Debt to Adjusted EBITDA ~2.5x post-CBI acquisition and ~$208M of available liquidity 12 • Improved maturity profile with unsecured revolving facility maturity extended to April 2029 and 5-year $450M senior unsecured notes maturing in April 2031 • Pro forma Debt to Adjusted EBITDA(4) is estimated to be ~2.5x(4), reflecting a full-year pro forma impact of the CBI Acquisition • BBB stable rating from Morningstar DBRS Debt maturities as at June 30, 2026(2) ($ millions) Established Unsecured Senior Credit structure in Q2 2026, reducing borrowing costs and improving maturity outlook 7.9 2.5 4.5 4.7 5.0 5.2 5.4 29.7 4.0 7.5 5.7 4.3 3.4 2.5 5.3 103.7 2026 2027 2028 2029 2030 2031 Thereafter Mortgage/loan principal at maturity Mortgage amortization Lease liabilities Unsecured Revolving Facility Senior Unsecured Notes (2031) (3) “Interest coverage ratio” , “debt to Adjusted EBITDA” and “pro forma debt to Adjusted EBITDA are Non -GAAP ratios, and “debt to GBV” is a supplementary financial measure. See “Cautionary Statement – Non-GAAP Financial Measures” in this presentation for a definition of this measure and certain related information (1) Debt includes current portion of long-term debt and letters of credit drawn on the revolving credit facility; excludes deferred financing costs (2) Debt maturities exclude letters of credit drawn on the revolving credit facility As at June 30, 2026 Cash Available Revolving Facility Long-term debt(1) Weighted Average Rate $93M $115M $683M ~4.4% (~5.3% at YE2025) 450.0 2.6x 4.2x 7.9x 10.0x 9.3x 7.4x 4.0x 2.3x 2.1x 2.5x 38.6% 37.0% 31.4% 26.0% 35.3% 2022 2023 2024 2025 Pro forma TTM Q2-26 Debt Metrics(1)(3)(4) TTM interest coverage Debt/Adjusted EBITDA Debt/GBV (4) Pro forma TTM Q2-26 debt metrics are calculated using estimated pro forma Adjusted EBITDA of $273.6M and interest expense of $29.3M. Pro forma Adjusted EBITDA of $273.6M is derived from Extendicare’s Adjusted EBITDA of $221.4M for the TTM Q2-26, plus $52.2M representing nine months of CBI Home Health’s standalone Adjusted EBITDA of $69.6M for the year ended December 31, 2025. Pro forma interest expense of $29.3M is derived from the Company’s 4.4% weighted average interest rate of long -term debt outstanding as at June 30, 2026. Further details on CBI Home Health’s standalone Adjusted EBITDA can be found in the Company’s Business Acquisition Report on Form 51-102F4 and associated press release issued on May 12, 2026, as filed on SEDAR+ at www.sedarplus.com and on Extendicare’s website at www.extendicare.com
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2x 3x Meeting the needs of a growing demographic Compelling growth in long-term care and home health care Canadian population aged 85+ Building new LTC homes to address the rising demand for long-term care • Seniors aged 85+ increasing at ~4% per year(1) • LTC waitlist of ~50,000(2) in Ontario(2) • Need >200,000 new LTC beds in Canada by 2035(3) Enhancing home health services to ease health care system strain • ParaMed’s currently provides ~26M hours of home health care services annually • Home care volume growth outpacing seniors’ population growth to bridge LTC shortfall (1) Source: Statistics Canada, Table 17-10-0057-01, Projected population as of July 1, 2025, released January 2026 (2) Source: Ontario Ministry of Long-Term Care Client Profile Database (“CPRO”), March 2026 (3) The Conference Board of Canada; Sizing Up the Challenge; Meeting the Demand for Long-Term Care, November 2017 0.86 1.61 2.70 0.0 0.5 1.0 1.5 2.0 2.5 3.0 2006 2011 2016 2021 2026 2031 2036 2041 2046 2051 Observed Projected (millions) 13
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Appendix
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45.7% 13.1% 41.2% Services-focused growth Services represent ~59% TTM Q2 2026 adjusted NOI 15 Direct care for seniors Home health care hours (4)~27M Home health care 58 Long-term care homes owned Long-term care Managed services 39 Homes under contract Management & consulting Third-party & JV beds served 162K Group purchasing NOI contribution by segment(1) Geographically diversified operations(2) Province ON AB MB BC QC Other Total Home health care hours delivered (TTM 000’s) 15,326 1,429 256 10 - 892 17,913 LTC homes owned – beds 38 5,410 14 1,514 6 973 - - - - - - 58 7,897 Assist and JV beds under management contract(3) 5,188 - 810 - - - 5,998 SGP 3rd party & JV beds served 59,630 20,473 2,140 31,806 38,402 9,203 161,654 High growth business model to expand home health care services and build new LTC homes through capital efficient JV with Axium to generate managed services revenue Positioned for GROWTH TTM Q2 2026 Adjusted NOI(1) $275.5M Home health care $125.9M Managed services $36.1M (1) TTM Q2 2026 adjusted NOI excludes out-of-period items, refer to slide 16 for details and the impact (2) Figures as at June 30, 2026 (3) Represents 39 homes, including 29 operational LTC homes owned in the joint ventures with Axium in which the Company has a 15% managed interest (4) Estimated annualized volume based on TTM volumes ending June 30, 2026 of 17.9M plus pro forma adjustment for CBI Home Health of ~9.0M Long-term care $113.5M
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Adjustments to revenue, NOI, EBITDA and AFFO Three, six and twelve-month periods ended June 30, 2026 • Q2 2026 AFFO impacted by settlement of DSUs of $6.4M (after- tax impact of $8.7M payroll withholding tax) or $0.066 AFFO/share • YTD Q2 2026 results impacted by out-of-period funding and costs o LTC recognized $7.9M of out-of-period funding o Home health care recognized $1.7M of retroactive funding and offsetting costs of $0.9M, for a net impact of $0.8M • YTD Q2 2025 results impacted by out-of-period funding, costs and workers’ compensation rebates o Home health care recognized $11.0M of retroactive funding and offsetting one-time costs Q1 2025 in connection with the 4% rate increase announced in Q4 2024 o LTC and home health care recognized workers’ compensation rebates of $2.7M and $3.9M, respectively • TTM Q2 2026 results impacted by out-of-period funding and costs and workers compensation rebates o LTC recognized $5.0M of out-of-period funding, offset by $2.3M of retroactive union wage adjustments o LTC and home health care recognized workers’ compensation rebates in Q4-25 of $2.9M and $5.5M, respectively 16(1) TTM Q2 2026 AFFO/basic share computed using YTD Q2 2026 weighted average shares of 95.5M Impact of out-of-period items on Revenue, NOI, Adjusted EBITDA and AFFO/basic share Q2 Q2 Impact on: 2026 2025 Change AFFO Settlement of DSUs $(6.4)M ‒ $(6.4)M AFFO/basic share $(0.066) ‒ $(0.066) YTD Q2 YTD Q2 TTM Q2 Impact on: 2026 2025 Change 2026 Revenue Home health care $1.7M $11.0M $(9.3)M $(0.6)M Long-term care $7.9M ‒ $7.9M $5.0M NOI and Adjusted EBITDA Home health care $0.8M $3.9M $(3.1)M $5.8M Long-term care $7.9M $2.7M $5.2M $5.6M AFFO Adjusted EBITDA items $6.4M $4.8M $1.6M $9.0M Settlement of DSUs $(6.4)M ‒ $(6.4)M $(6.4)M AFFO/basic share(1) ‒ $0.058 $(0.058) $0.027
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Adjusted NOI by division(1) Three and six months ended June 30, 2026 17 (1) Refer to slide 16 for details and the impact of out-of-period items Home health care NOI and margin(1) Q2 Q2 Change YTD YTD Change2026 2025 2026 2025 $46.7M $21.4M +117.8% $73.8M $36.6M +101.7% 12.9% 13.5% -60 bps 13.1% 12.0% +110 bps Average daily volume 77,478 33,310 +132.6% 59,805 32,461 +84.2% Long-term care NOI and margin(1) Q2 Q2 Change YTD YTD Change2026 2025 2026 2025 $29.7M $23.9M +23.9% $54.0M $42.4M +27.2% 12.7% 11.6% +110 bps 11.5% 10.5% +100 bps Average occupancy 98.0% 98.3% -30 bps 97.7% 97.9% -20 bps Managed services NOI and margin Q2 Q2 Change YTD YTD Change2026 2025 2026 2025 $9.9M $9.6M 2.5% $18.7M $19.6M -4.3% 57.6% 54.3% +330 bps 56.2% 53.9% +230 bps SGP 3rd party & joint venture beds at period end 161,654 149,295 +8.3%