Sonida Senior Living (SNDA) investor relations material

Executive summary

• Completed the $1.8 billion acquisition of CNL Healthcare Properties (CHP), expanding the portfolio to 165 communities across 35 states and creating the 8th largest U.S. senior housing owner with 153 owned properties and 14,700 units.

• Q1 2026 results reflect significant growth in revenue, occupancy, and NOI margins, driven by both legacy and acquired communities, with integration of CHP progressing and synergy targets on track.

• The merger was financed through a mix of new debt facilities, equity issuance, and cash, with $110 million raised from major shareholders and expanded credit facilities.

• Leadership team strengthened, focusing on operational excellence and leveraging proprietary technology (SPIN) for performance improvement.

• Entered a new growth phase focused on compounding value, operational scale, and disciplined capital allocation.

Financial highlights

• Resident revenue for Q1 2026 rose 36.8% year-over-year to $108.4 million, with same-store weighted average occupancy up 220 basis points to 87.2%.

• Same-store community NOI increased 14% to $48 million, with margin expanding 170 basis points to 31.2%; total portfolio NOI up 10.4% to $58.4 million.

• Adjusted EBITDA rose 58.7% to $21.5 million, and pro forma Adjusted EBITDA was $48.0 million.

• Net loss attributable to shareholders widened to $61.4 million, mainly due to $25.6 million in merger-related costs and higher depreciation/amortization.

• Labor costs as a percent of revenue declined 100 basis points year-over-year, reaching a portfolio low of 41.0%.

Outlook and guidance

• Management expects continued NOI growth, margin expansion, and operational synergies as integration progresses.

• Plans to refinance the $170 million Bridge Facility before its March 2027 maturity, likely with property-level financing.

• Dispositions of non-core assets expected to accelerate in the second half of 2026, with capital deployment prioritized for high-return opportunities.