Extendicare (EXE) Investor presentation summary

Strategic growth and market positioning

• Largest seniors' care provider in Canada, focused on long-term care (LTC) and home health care, with 58 years of experience and a strong acquisition pipeline in a fragmented market.

• Over 90% of revenue is derived from government contracts, providing revenue stability and insulation from economic cycles.

• Joint venture with Axium Infrastructure enables capital-efficient LTC growth and managed services expansion.

• Technology platform supports high-quality, efficient service delivery and acquisition synergies.

• Strong balance sheet with low leverage (2.5x debt to adjusted EBITDA) and $208M available liquidity as of June 30, 2026.

Demographic trends and market demand

• Canadian seniors aged 85+ are growing at ~4% per year, with a projected tripling by 2051.

• Ontario faces a significant LTC bed shortfall, with the ratio of beds per 1,000 people aged 75+ dropping from 99 in 2006 to 57 in 2024.

• Over 200,000 new LTC beds needed in Canada by 2035; Ontario must add 4,000 beds annually to maintain current ratios.

• Home health care volume is outpacing seniors' population growth, helping bridge the LTC gap.

Operational performance and segment highlights

• Home health care segment delivered 27M hours annually, with adjusted NOI margin at a multi-year high of 13.3% and 80.6% volume growth since 2023.

• LTC segment operates 58 fully owned homes with 7,897 beds, maintaining occupancy above 97% and an adjusted NOI margin of 11.8%.

• Managed services segment (Assist and SGP) achieved consistent 50-56% NOI margins, serving ~161,700 beds and operating 39 LTC homes.