Sienna Senior Living (SIA) Investor presentation summary

Portfolio overview

• Operates 46 retirement residences and 47 long-term care communities, with additional managed properties across Ontario, Saskatchewan, Alberta, and British Columbia.

• Adjusted gross book value of $3.4B as of December 31, 2025.

• Over 15,000 team members support operations.

• Annual dividend per share is $0.94, with a BBB credit rating from Morningstar DBRS.

Market fundamentals and demand drivers

• Canadian senior population (85+) expected to increase 2.5x from 2026 to 2046, driving demand.

• Less than 1% of senior housing inventory under construction, creating a supply gap.

• Ontario has a waitlist of ~50,000 for long-term care beds; British Columbia's waitlist has tripled in a decade.

• One in five seniors over 80 has complex care needs requiring long-term care.

Operational performance

• Retirement segment occupancy exceeded 95% since September 2025, with a 180 bps year-over-year increase in Q4 2025.

• Long-term care portfolio at full occupancy, with increased revenues from private accommodations and reduced staffing costs.

• Q4 2025 retirement same property NOI up 15.4% year-over-year; long-term care NOI up 5.6%.

• Total same property NOI grew 10.1% year-over-year in Q4 2025.