Annual Meeting Generating Long-Term Value June 2020 Cautionary - PowerPoint PPT Presentation

Delivering Quality Care and Annual Meeting Generating Long-Term Value June 2020

Cautionary Note 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.sedar.com). 2

Sienna at-a-glance $1.7B Sienna Senior Living Inc. (SIA: TSX) is one of Canada's Total Assets leading owners and operators of seniors' residences with high quality assets in great locations 12,000+ Dedicated Team Members 13 M Managed 43 Long-term 43 L 27 R Ret etirem emen ent 48 Care R e Resi siden ences es Resi siden ences es Resi siden ences es (6,868 beds) (3,283 suites) (1,461 beds/suites) Years of Operations $0.94 Annual Distribution/Share Sienna owns a balanced portfolio of Funded Private-pay 61% government-funded long-term care residences Long-term Retirement care 44% and private-pay retirement residences Q1 2020 AFFO Payout Ratio 56% Based on net operating income contribution for the quarter ended March 31, 2020 3

COVID-19 Response & Business Update 4

COVID-19 Current Facts & Figures 17 Sienna’s COVID-19 Stats  No a activ ive c cases in a any of Sienna’s ret etirem emen ent r residen ences Provincial Total –  No act active resid ident ca case ses i s in any o of British Columbia: Sienna’s L LTC residences i in BC Confirmed: 2,878  Active e resid ident ca case ses s at 5 S Sienna Recovered: 2,545 LTC residences in O LT n ON Provincial Total –  Over 60% 60% of Sienna’s C COVID-19 19 Ontario: 1 0 ca case ses i s in GTA TA Confirmed: 34,476 Recovered: 29,932 0 Sienna Long-term Care (“LTC”) Residences Sienna Retirement Residences 8 with active COVID-19 cases with active COVID-19 cases As at June 25, 2020 5

COVID-19 Response Sector Leadership Government Funding Sienna’s Management of COVID-19 Health and safety of residents and Sienna is a founding member of the Funding of extraordinary costs team members is foremost priority CaRES Fund and CAPES and a sector associated with infection leader in advocating for and helping prevention, safeguards and single Extensive infection prevention and to shape sound policies and quality work sites precautionary measures meeting all care for seniors’ living provincial directives Ontario CaRES Fund provides emergency  $243 million to long term care Providing adequate supply of financial assistance to sector emergency funding Personal Protective Equipment employees who are facing (“PPE”) at all residences  $20 million to retirement sector extraordinary circumstances amid emergency funding COVID-19 Internal Incident Management Team directing implementation of all British Columbia CAPES - the Canadian Alliance to preventative measures Committed funding for assisted Protect and Equip Seniors Living - is Recruitment of new staff and offering living and long-term care to support an initiative committed to providing of full-time positions to part-time staff certain pandemic related expenses Personal Protective Equipment and single work site locations (“PPE”) supplies at cost to small and Preparing for re-opening of non- not-for-profit Canadian operators outbreak residences to admissions of amid the global supply chain new residents including visiting based disruption on directives 6

COVID-19 Action Plan Six-Point Action Plan  Immediate investigation: Hired Paul Boniferro , former Deputy Attorney General of Ontario, to conduct 1 an immediate, company-wide review into the policies, practices and culture.  Additional health-care expertise: Hired Joseph Mapa , a senior health and long-term care expert to act as 2 executive advisor to Sienna’s management and Board of Directors.  Frontline re-education: Introduced enhanced frontline education protocols focused on quality of care 3 and safety.  Zero tolerance policy and Reinforcing zero-tolerance policy for inappropriate behaviour and conducting 4 sensitivity training: sensitivity training with frontline staff.  Increase communications: Increasing communications with residents and their families , including 5 videoconference town hall meetings, regular calls and virtual visits.  Accelerating staffing, recruiting Accelerating aggressive recruitment efforts and allocating additional resources 6 and retention efforts: to further enhance quality and frequency of communication with families. 7

Pandemic Expenses and Government Funding LTC Government Funding Pandemic Expenses Staffing Increased expenses to manage Continued funding of long-term Addressing staffing challenges COVID-19 care residences for vacancies due faced across the seniors’ living to outbreak sector Majority of expenses expected Governments of Ontario and Recruiting and deploying • • • British Columbia continue to to be covered by government additional staff and expediting provide regular funding of funding; the hiring process while Certain expenses, including fees long-term care residences for supporting single worksites; • vacancies caused due to related to hospital management Since March 2020, Sienna • outbreak; agreements, advisory services hired Suspension of required and certain pandemic pay 600 full-time staff; • • occupancy targets by the programs may not be covered; 750 part-time staff and • Government of Ontario. Net impact YTD of $4.1 million Converted over 1,000 • • (January 2020 – May 2020) part-time positions to mainly for additional staffing full-time. costs, PPE and supplies; No impact on OFFO. • 8

Operating & Financial Highlights 9

Operating Performance Occupancy & Rent Collection Q1 Operating Performance Subsequent to Q1 Q1 2020 $20.6M Long-Term Care Same Property NOI 84.6% 84. 83.7% 83. 83.0% 83. Q1 2019 $21.0M Retirement Occupancy Q1 2020 $15.9M Retirement Same Property NOI (0.8%) Q1 2019 $17.9M Q1 2020 $36.4M Total Same Property NOI Q1 2019 $38.9M March April May Q1 2020 $0.365 Operating Funds from Operations Average same property occupancy in • (0.8%) Retirement impacted by reduced move-in per share Q1 2019 $0.322 activity during pandemic, partially offset by lower move-out activity. Q1 2020 $0.382 Adjusted Funds from Operations Rent collection levels similar to pre-pandemic • (0.8%) levels for the months of April and May 2020. per share Q1 2019 $0.353 10

Solid Financial Position Interest Coverage Ratio Debt to Adjusted EBITDA 7.9x 4.2x 7.4x 3.9x 3.9x 3.7x 6.9x 6.8x 3.5x 6.7x 2016 2017 2018 2019 2020 Q1 2016 2017 2018 2019 2020 Q1 Debt to Gross Book Value Weighted Average Cost of Debt 3.9% 3.9% 51.5% 3.8% 49.6% 47.7% 46.9% 46.0% 3.6% 3.6% 2016 2017 2018 2019 2020 Q1 2016 2017 2018 2019 2020 Q1 11

Debt Profile Debt Capitalization Debt Maturities as at March 31, 2020 as at March 31, 2020 $357M $285M $216M Debenture s (1) Debenture s Series B Series A $79M $48M $21M 2020 2021 2022 2023 2024 Thereafter (1) Net of principal reserve fund of $37M 12

Strong Liquidity & Financial Flexibility $540 M $200 M BBB 5-Year Unsecured investment grade rating from Unencumbered Revolving Credit Facility DBRS at interest rates based on the Asset Pool bankers’ acceptance rate plus 145 Reflects strength of balanced basis points (“bps”) or the prime rate portfolio and sophisticated plus 45 bps operating platform $50M additional capacity , subject to certain conditions $208 M available liquidity As at June 15, 2020 13

Board of Directors & Senior Leadership Team Senior Leadership Team Board of Directors Nitin Jain Dino Chiesa * , Chair Director, President & CEO Nitin Jain Karen Hon Board’s Tenure Chief Financial Officer, Senior Vice President Janet Graham * Stephen Foster Paula Jourdain Coleman * Executive Vice President, Long-Term Care (interim) Brian Johnston * Mark A. Lugowski Executive Vice President, Retirement Operations Jack C. MacDonald * Olga Giovanniello Stephen Sender * Executive Vice President, People & Culture David Hung Senior Vice President, Corporate Services * Independent 3 years or less 4 - 7 years Since IPO (2010) Cristina Alaimo Vice President, General Counsel Nancy Webb Vice President, Marketing & Communications 14