Mr. Nitin Jain reports

SIENNA CONTINUES PLATFORM GROWTH

Sienna Senior Living Inc. has entered into two purchase agreements to acquire a retirement residence in the greater Ottawa area and a long-term care community in the Greater Toronto Area for a combined investment of approximately $109-million.

On May 1, 2026, the company entered into a purchase agreement to acquire Ballycliffe, a 224-bed, newly built long-term care community in Ajax, Ont., located within the GTA. The gross purchase price for the property, which opened in Q3 (third quarter) 2025 and includes all rights to the asset's 25-year construction financing subsidy, is approximately $68.3-million, or $305,000 per bed, with an initial investment yield of approximately 6.75 per cent. The acquisition will be financed through available cash on hand, is subject to transaction approvals and customary closing conditions, and is expected to close in the second half of 2026.

On May 1, 2026, the company entered into a purchase agreement to acquire Rockland Manor, a 160-suite retirement residence in Rockland, Ont., located within the greater Ottawa area. The gross purchase price for the property is approximately $41.0-million, or $256,000 per suite, with an initial investment yield of approximately 6.0 per cent. Built in 2015, the property is approximately 99 per cent occupied and offers services ranging from independent living to memory care. The acquisition will be financed through available cash on hand, is subject to transaction approvals and customary closing conditions, and is expected to close within 60 days.

"With Ballycliffe and Rockland Manor, we are continuing our disciplined capital allocation across the full continuum of care," said Nitin Jain, president and chief executive officer. "These acquisitions are an excellent example of the broad range of opportunities available to Sienna to expand our portfolio in both the government-funded long-term care and the private-pay retirement segments."

About Sienna Senior Living Inc.

Sienna Senior Living offers a full range of seniors' living options, including independent living, assisted living and memory care under its Aspira retirement brand, long-term care, and specialized programs and services. Sienna's approximately 15,500 employees are passionate about cultivating happiness in daily life.

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