Sonida Senior Living (SNDA) investor relations material

Executive summary

• Completed $1.8 billion acquisition of CNL Healthcare Properties (CHP) in March 2026, becoming the 8th largest U.S. senior housing owner with ~$3.3B enterprise value and 153 owned properties.

• Portfolio now includes ~14,700 owned units, 92% private pay, and no operating leases.

• Over 95% shareholder approval for the merger, reflecting strong support and value creation.

• Leadership team strengthened with experienced executives and new board members from CHP.

• Integration efforts focused on minimizing disruption, incentivizing operator performance, and maintaining asset management continuity.

Financial highlights

• FY 2025: RevPOR up 8.8% YoY, Community NOI up 21.9%, Adjusted EBITDA up 28.0%, and resident revenue rose 24% to $332.0 million.

• Q4 2025: RevPOR up 5.9% YoY, Community NOI up 12.5%, resident revenue increased 11.9% to $86.3 million.

• Acquisition portfolio NOI margin expanded from 21% to 28% year-over-year.

• Adjusted EBITDA for 2025 was $53.8 million, up 24.5% from 2024.

• Same-store portfolio achieved 20 basis points sequential occupancy gain in Q4 and 6.1% FY 2025 resident revenue growth.

Outlook and guidance

• 2026E Normalized FFO per share accretion estimated at 62% on a run-rate basis, driven by $16–$20M in annual corporate synergies.

• Targeting 2026 revenue per occupied room growth at or above 2025 same-store growth.

• Annual rent renewal rate for March 2026 was 7.9%, up from 6.8% prior year.

• Management expects 2026 results to be materially impacted by the CHP Merger, with 69 new communities added.

• Continued focus on accretive acquisitions, portfolio optimization, and recycling capital into higher-growth assets.