Slides
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November 13, 2025 Sienna Senior Living Inc. (SIA: TSX) Q3 2025 Conference Call Brants Landing & Oakwood Commons Campus of Care, Brantford, Ontario
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Sienna Senior Living 2 Certain information in this presentation may contain forward-looking information. Actual results could differ materially from conclusions, forecasts or projections in the forward-looking information, and certain material factors or assumptions were applied in drawing conclusions or making forecasts or projections as reflected in the forward-looking information. Additional information about the material factors, assumptions and/or risks that could cause actual results to differ materially from the conclusions, forecasts or projections in the forward-looking information, and the material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information are as disclosed in the company’s disclosure documents filed on SEDAR+ from time to time, including but not limited to the company’s most recent MD&A and AIF (www.sedarplus.ca). Cautionary Note
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Presenters Nitin Jain Chief Executive Officer, President & Director David Hung Chief Financial Officer & Executive Vice President, Investments
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Sienna Senior Living Accelerating Growth Strong operating results across both lines of business Successful Completion of development projects in Ontario Continued growth through acquisitions + + + ~$600M Acquisitions To Date in 2025 ~$218M Developments Completed & Opened in 2025 94.1% Q3 Retirement Occupancy (Average Same Property))
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Sienna Senior Living Strong Operating Results 5 6.7% Q3 2025 Year-over-Year SP NOI Growth* In Long-Term Care Segment *excluding one-time items Retirement Same Property (SP) Occupancy Percent 89.5 90.1 90.1 89.6 89.9 90.2 90.8 90.5 90.5 91.1 91.8 92.4 92.6 92.9 93.1 93.1 92.5 91.9 91.9 91.9 92.7 93.1 94.5 94.6 94.7 80.0 83.0 86.0 89.0 92.0 95.095% Approaching 95% Occupancy Target 13.2% Q3 2025 Year-over-Year SP NOI Growth* In Retirement Segment
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Sienna Senior Living 6 Unlocking V alue through Redevelopments ~3% Contribution to AFFO/Share per LTC Redevelopment Project Northern Heights North Bay, Ontario Brants Landing & Oakwood Commons Brantford, Ontario
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Sienna Senior Living 7 Acquisition Momentum Continues Fort Saskatchewan Care Community Fort Saskatchewan, Alberta Aspira Credit River Greater Toronto Area, Ontario ~$600M LaSalle Park Greater Toronto Area, Ontario (under contract) Hygate on Lexington Waterloo, Ontario (under contract) Acquisitions Completed & Under Contract in 2025
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Sienna Senior Living Investing in Our Team Members 8 Team Member Engagement Score 86% Participation Rate In Team Member Engagement Survey 7.1 7.3 7.5 7.9 8.0 2021 2022 2023 2024 2025
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Operating & Financial Results
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Sienna Senior Living 10 Q3 2025 Financial Results (excluding one-time items) Quarter ended September 30 $Million, except occupancy and per share data 2025 2024 Change Revenue (Proportionate Basis) 261.7 224.8 + 16.4% Same Property (SP) NOI 46.4 42.4 + 9.7% Retirement SP NOI 22.1 19.5 + 13.2% Long-Term Care SP NOI 24.4 22.8 + 6.7% OFFO 31.8 23.9 + 33.3% OFFO/Share 0.342 0.312 + 9.6% AFFO 27.7 20.4 + 36.1% AFFO/Share 0.298 0.266 + 12.0% Retirement operations benefitting from improved occupancy and rate growth as well as higher care revenue Long-term care operations benefitting from fully occupied homes and higher private accommodation revenue Asset optimization initiatives contributing to strong results
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Sienna Senior Living 11 Contributions from Recently Completed Redevelopments Projects Completion Number of Beds / Suites Estimated Development Costs Development Grant Annual Construction Subsidy(1) Expected Development Yield Brantford Q3 2025 160 / 147 $140M $4.0M $3.3M 8.5% North Bay Q3 2025 160 $78M $4.0M $3.3M 8.0% Total 480 / 147 $218M $8.0M $6.6M ~$4.7M Annual Contribution Per Project ~3% Increase in AFFO Per Project Northern Heights North Bay, Ontario
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Sienna Senior Living 12 Diversified Debt Profile Debt Maturities ($MMs) As at September 30, 2025 -100 -50 0 50 100 150 200 250 300 350 2025 2026 2027 2028 2029 2030 2031 Thereafter Mortgages Unsecured Debentures Construction Loan Credit Facilities 9 196 180 141 319 210 9 279 $464M Liquidity As at September 30, 2025 $1.3B Unencumbered Assets As at September 30, 2025 $175 Unsecure Debenture Issuance August 21, 2025
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Sienna Senior Living Raising Growth Outlook Retirement 2025 SP NOI 13% – 14% Retirement SP Occupancy Target 95% by year-end 2025 Retirement 2025 SP Margin 200 – 250 bps LTC 2025 SP NOI 4% – 5% + + + Growth Target +
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Contact Information Sienna Senior Living Inc. siennaliving.ca t: (905) 489-0258 e: investors@siennaliving.ca