#1Investor Presentation DINE IN CATERING TAKE OUT August 2022 Sienna SENIOR LIVING#2Cautionary 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). Sienna Senior Living 2#3Sienna at-a-glance Sienna Senior Living Inc. (SIA: TSX) is one of Canada's leading owners and operators of seniors' residences with high quality assets in Ontario, Saskatchewan and British Columbia. $1.7B Total Assets ~12,000 Dedicated Team Members 42 Long-term Care Communities (6,632 beds) 38 Retirement Residences (4,389 suites) 13 Managed Residences (1,461 beds/suites) 50 Years of Operations As at June 30, 2022 $0.94 Annual Distribution/Share Sienna offers a full range of seniors' living options, including independent living and assisted living under its Aspira retirement brand, long-term care, and specialized programs and services. $271M Available Liquidity As at June 30, 2022 Sienna Senior Living 3#4Investment Highlights 1 Leading diversified Canadian seniors' living provider with a balanced portfolio of retirement residences and long-term care communities 2 Compelling demographics with 85+ age group expected to triple in Canada in the next 25 years 3 Needs-driven business supported by strong balance sheet and significant liquidity 4 Accretive acquisitions further enhanced through joint ventures 5 Trading at a discount to Canadian REITs and peers based on analysts' 2022 Price/AFFO multiples 6 Stable dividend with attractive ~7% yield Sienna Senior Living#5Compelling Canadian Seniors' Living Fundamentals ☐ Canadian seniors' population in the 85+ age group expected to triple over next 25 years according to 2021 census One in four people 85+ years of age already lives in a seniors' living setting Notable decline in construction starts in recent years 5.5% 4.9% 4.8% 3.6% Canadian Seniors' Housing Construction Starts as % of inventory 2.8% 2.6% 2016 2017 2018 2019 2020 2021 Sienna Senior Living 5#62022E Price/AFFO Multiple* Attractive Dividend Yield 21.0 20.0 19.0 BSR Minto Chartwell ~7% Sienna's Dividend Yield 18.0 17.0 16.0 15.0 14.0 13.0 12.0 European Residential Extendicare Dream Office Morguard Residential Nexus 11.0 Primaris 10.0 Sienna Sienna is trading at one of the highest yields and lowest AFFO multiples compared to its peer group and TSX- listed real estate companies of similar size 9.0 *Based on consensus analyst estimates and share prices as at August 22, 2022 8.0 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% Dividend Yield Sienna Senior Living Ο#7Diversified Portfolio British Columbia 93 Properties owned or managed by Sienna Saskatchewan 4 4 5 8 Ontario 9 34 29 Retirement • • High quality residences in key Canadian markets Community-focused service offerings and programs under Aspira brand Development and expansion potential Portfolio as at June 30, 2022 Long-term Care Well-located care communities in Ontario and British Columbia High demand for long-term care with rapidly aging population Stable revenue stream supported by government funding for resident care Long-term care communities Retirement residences (wholly-owned and partially owned assets) Managed residences (owned by third parties) Sienna Senior Living 7#8Growing Retirement Platform CC 12-property retirement portfolio acquired in Saskatchewan and Ontario in May 2022 UTHER ARE VILLAGE AT STONEBRIDGE Bolton Mills Commety OLTON Mil Sienna Senior Living 8#9Successful Launch of Aspira Retirement Brand A Aspira Retirement Living CONTACT US 1-866-959-4848 Our Locations ✓ Living Options く Plan Your Move ✓ About Us ▾ Rollout of signature programs A place for you Enter city or postal code Toronto, ON, Canada Find your local community Living Options Searching for yourself or a loved one? Search www.aspiralife.ca Strong response to new Aspira brand with 26% increase in qualified leads during first month after launch Nourish by Aspira Active by Aspira and Explore by Aspira Sienna Senior Living 6#10Marketing & Sales Initiatives Marketing and sales teams continue to generate strong interest in retirement residences by Building and maintaining excellent relationships with healthcare providers and local business partners ▪ Integrating recently acquired retirement residences in Saskatchewan and Ontario ☐ Leveraging Aspira brand through ➤offering personalization and expanded choices to residents ➤invigorating team members as a result of successful rebranding initiatives Sienna Senior Living 10 10#11Retirement Occupancy at Multi-Year High 89%-90% Retirement Occupancy Forecast Year-end 2022 14% Increase in rent deposits Year-over-Year in Q2 2022 19% Increase in resident move-ins Year-over-Year in Q2 2022 89% - 90% (YE 2022E) 88.6 87.8 86.7 86.7 Average Monthly Same Property Retirement Occupancy Percent (%) 85.6 85.3 85.0 84.7 84.0 83.5 80.7 80.9 81.7 82.7 82.7 81.7 81.3 80.5 80.0 79.7 78.9 78.6 78.2 78.5 78.4 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Sienna Senior Living 11 Jul-22 22-Dec#12Long-Term Care Market Overview Demand surpasses supply in Sienna's key markets 100 89 90 90 Ontario (1) LTC Beds per 1,000 Pop. 75+ 80 26 70 60 50 40 30 20 10 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 68 2022 2023 2024 2025 2026 Source: Statistics Canada; Financial Accountability Office of Ontario; Office of the Seniors Advocate BC 2027 2028 2029 2030 British Columbia 80 75 LTC Beds per 1,000 Pop. 75+ 70 0 64 64 60 60 50 50 40 40 30 20 10 (1) Projections include the 30,000 new long-term care beds announced by the Ontario Government in April 2022 2016 2017 2018 2019 2020 2021 Sienna Senior Living 12#13Long-Term Care Net Operating Income and Margins $100M 40% $88.4M $88.4M $90M $85.4M $86.4M(2) 35% $79.2M(2) $80M $72.0M (1) $70M I I I 30% $61.4M $62.6M 25% $60M | I $48.1M I | $50M 20% $40M I T 18% 18% 17% 15% I 17% 16% I 16% I 15% 15% 15% $30M I I I I 10% $20M I 1 | 5% $10M $OM I 0% 1 2013 2014 2015 2016 2017 2018 2019 2020 2021 I ■LTC NOI Excl. Pandemic ($) LTC NOI Margin (%) (1) Sienna entered the British Columbia LTC market in 2016 (2) NOI is excluding net pandemic impacts Long-term care NOI and margins have remained stable over time 13#14Ontario Long-Term Care Funding Rate Per Diem Components Historically Stable and Increasing Per Diem Government Funding Nursing, Programs, Food Resident Co- $225 $200 Payment $175 $150 $125 Other Accommodation $100 $80 $75 $50 $25 $0 $125 $144 $148 $153 $156 $159 $161 $164 $167 $171 $177 $182 $185 $188 $191 ill 1993 1998 2005 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 I Per Resident Day Year-Over-Year Funding Growth $132.14 / resident day Flow through funding has no impact on NOI $58.88/resident day Operator profits are retained through accommodation funding 2.4% Annualized Growth Rate* * Annualized growth rate is for period 2009 to 2021 Sienna Senior Living 14 45% 40% 35% 30% 25% 20% 15% 10% 5% 0%#15Ontario Long-Term Care Construction Funding The Government of Ontario modernized its construction funding policy in 2021: . • - Construction Funding Subsidy – An amount paid per resident day over 25 years with adjustments made for geographic location and home size; and Development Grant (New) - A grant per bed covering a portion of eligible construction costs (e.g. hard costs, development charges, land costs) Maximum Construction Funding Subsidy (per diem – paid over 25 years) Maximum Development Grant (per bed - one-time grant) Large Urban Urban Mid-Size Rural $27.68 $24.43 $24.43 $24.68 $51,376 $47,926 $24,923 $29,246 Construction funding supports the construction of new long-term care beds as well as the redevelopment of existing beds 15#16Long-Term Care Redevelopment Platform CEDARVALE LONG TERM CARE ▪ 2,600 bed licence allocations ☐ received from the Ontario Ministry of Long-Term Care to redevelop aging portfolio Development momentum slowed amid supply chain disruptions and high inflation ▪ Cost escalations, development yields and the economic feasibility of current and future projects are closely monitored Sienna Senior Living 16#17Q2 Financial Results Total Adjusted Revenue Q2 2022 $180.2M Q2 2021 $162.7M 11% Retirement Q2 2022 $15.1M 20% Same Property Net Operating Income Q2 2021 $12.6M Retirement Same Property NOI benefitting from occupancy improvements and rental rate increases Long-Term Care Q2 2022 $18.0M 3% Same Property Net Operating Income Q2 2021 $17.5M Long-Term Care Same Property NOI Operating Funds From Q2 2022 $0.237 benefitting from higher 5% Operations (per share) Q2 2021 $0.226 preferred accommodation revenues as a result of occupancy improvements Adjusted Funds From Q2 2022 $0.236 12% Operations (per share) Q2 2021 $0.210 Sienna Senior Living 17#18Financial Position Debt to Gross Book Value 47.7% 48.2% 46.0% 44.7% 43.4% 2018 2019 2020 2021 2022 Q2 Debt to Adjusted EBITDA 9.4x 9.5x 7.9x 6.9x 6.7x 2018 2019 2020 2021 2022 Q2 Interest Coverage Ratio 3.9x 3.9x 3.7x 3.1x 3.2x 2018 2019 2020 2021 2022 Q2 Debt Maturities as at June 30, 2022 4.9 years Weighted Average Term to Maturity $30M $168M Unsecured Term Loan $216M $187M $171M Series A Unsecured Debentures $53M Series B Unsecured Debentures Series C Unsecured Debentures $169M 2022 2023 2024 2025 2026 2027 2028-2041 Sienna's debt is well distributed between unsecured debentures, credit facilities, unsecured term loans, conventional mortgages and mortgages insured by the Canada Mortgage and Housing Corporation. Sienna Senior Living 18#19Building a Team for a Growing Company Advocating for faster immigration and expedited placements of internationally educated nurses Investing in a new staff scheduling and call-out software Enhancing campus recruitments and student placements Strengthening employer brand Showing appreciation through initiatives like SOAR, Sienna's share ownership program TSX ESKY ROYAL IPSK.TO) 0 17.36 A 0 TSXV SKAY MINING CP (ESK.V) TMY TMX 01.82 0 THE FUTURE IS YOURS TO SEE. PAREX RESOURCES (PXT.TO) 023.69 0 E3 METALS CORP (ETMC.V) 08240 Sienna SENIOR LIVING QUEBECOR B (QBRb.TO] 0 28.48 A 0 ENCORE ENERGY CO (EU.VI 01.22 A 0 RESTAURANTS BRND (QSR.TO) 066.42 A 0 FIRST HYDRGN ORD IFHYD.VI 0082.75 & 0 TMX GROUP WELCOMES U UYUZA Sienna Senior Living THE MARKET OPENS IN 36 Sienna SENIOR LIVING Sienna Senior Living TSX:SIA THE MARKET OPENS IN 36 TMX RITCHIE BROS IRBA.TOI 01874.410 FRONTIER LITHIUM (FL.VI 03.26 A 0 RICHELIEU 033.83 DRONE DE O REFINITIV 9:29:24 AM Wednesday May 11, 2022 TSX: SIA Sienna Senior Living 19#20Attracting and Retaining a Diverse Team A Leader in Gender Diversity Recognized in the Globe and Mail's 2022. "Women Lead Here" for commitment to gender diversity and support of female leaders A Broad and Balanced Age Range An intergenerational team is crucial for the success of Sienna, where everyone can thrive, regardless of age 78% 44% Female Leaders* Female Executives *includes approx. 390 leadership positions Under 25 25-35 (12%) (21%) Over 55 (22%) 35-45 (22%) 45-55 (23%) At Sienna, we nurture a culture in which people of diverse backgrounds, race, age and gender have equal opportunity to achieve their potential 20 20#21Our Purpose Cultivating Happiness in Daily Life 21#22Our Vision is to be Canada's Most Trusted and Most Loved Seniors' Living Provider 22#23Board of Directors & Senior Executive Team Board of Directors Shelly Jamieson - Chair* Paul Boniferro Dr. Gina Cody Nitin Jain Paula Jourdain Coleman Brian Johnston Stephen Sender *As of August 11, 2022 Top Quartile Ranking in Globe & Mail's 2021 Board Games reflecting Sienna's high quality governance practices Senior Executive Team Nitin Jain Director, President & CEO Jennifer Anderson Long-Term Care Operations, EVP Mark Lugowski Retirement Operations, EVP Teresa Fritsch Chief Corporate Officer, EVP Olga Giovanniello Chief Human Resources Officer, EVP David Hung Chief Financial Officer & EVP Stephen Roy Real Estate Development & Construction, SVP Adam Walsh General Counsel, SVP Nancy Webb Public Affairs & Marketing, SVP 44% Executive positions held by women 56% Sienna Senior Living 23#24Strong Fundamentals Sienna's strategic approach to operating and growing the Company focuses on building a best-in-class portfolio through acquisitions, development and redevelopment, making enhancements to the retirement and long-term care platforms, recruiting and retaining a high-performing and diverse team and optimizing the Company's balance sheet and capital structure. Large operating platform with an experienced leadership team focused on high quality care and resident- focused experience; striving to bring happi- ness into residents' lives is a key priority Balanced portfolio of government-funded long-term care and private-pay retirement residences with growth potential in key Canadian markets Strong balance sheet and liquidity supported by investment grade credit rating, a large pool of unencumbered assets and financial flexibility Compelling Outlook with an aging population, high demand for long-term care and a slowdown in the future supply of retirement residences Sienna Senior Living 24#25Contact Information Sienna Senior Living Inc. siennaliving.ca t: (905) 477-4006 e: [email protected]