#1NexLiving communities inc. 田田田 B September 2022 Investor Presentation#2Disclaimer NexLiving communities inc. Forward-Looking Information This presentation contains certain statements, which may constitute "forward looking information" under Canadian securities law requirements and "forward looking statements" under applicable securities laws (collectively, "forward-looking information"). Forward-looking information can be identified by words such as: "anticipate", "intend", "plan", "goal", "seek", "believe", "project", "estimate", "expect", "strategy", "future", "likely", "may", "should", "will" and similar references to future periods. Forward-looking information in this presentation includes, without limitation, expectations relating to: the completion of the transactions contemplated herein and in the prospectus, the expected population growth in Atlantic Canada, anticipated quarter-over-quarter growth in NOI, projected growth in NOI due to the proposed acquisitions, expected reduction in SG&A% of NOI due to the proposed acquisitions, estimated increases in market capitalizations due to proposed acquisitions, the projected accretive nature of the proposed acquisitions, anticipated growth in FFO per share due to the proposed acquisitions, the expected mortgage financings for the proposed acquisitions, the pipeline for future acquisitions which may be impacted by NexLiving's ability to negotiate suitable terms, due diligence, future access to capital and market conditions, future operating results (including free cash flow) from portfolio properties which may be impacted by unexpected vacancies and maintenance expenses, availability of capital which may be impacted by the results of the offering, and future capital market and borrowing conditions. Forward-looking information are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions that we believe to be reasonable regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Key assumptions upon which the Company's forward-looking information is based include, but are not limited to, the expectation that the transactions contemplated herein and in the prospectus will be completed, future growth potential, results of operations, future prospects and opportunities, demographic and industry trends, no change in legislative or regulatory matters, future levels of indebtedness, the continuing availability of capital and current economic conditions. Forward-looking information are qualified in their entirety by the inherent risks, uncertainties and changes in circumstances surrounding future expectations which are difficult to predict and many of which are beyond the control of the Company, including that the transactions contemplated herein and in the prospectus are completed. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking information include, among others, the ability of NexLiving to operate as a going concern, development and operating risks, the Company's limited operating history, the trading price and volatility of the Company's common shares, global financial volatility, the failure to complete the transactions contemplated herein and in the prospectus, and unforeseen changes to key members of management. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, and our actual results, performance, achievements and financial condition may differ materially from those indicated in the forward-looking information or implied by such forward-looking information. Therefore, you should not rely on any of this forward-looking information. Certain statements included in this presentation may be considered a "financial outlook" for purposes of applicable Canadian securities laws, and as such, the financial outlook may not be appropriate for purposes other than this presentation. Any forward-looking information in this presentation is based only on information currently available to us and is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable at the date that such statements are made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking information whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. Non-IFRS Measures In this presentation, the Company uses certain non-IFRS financial measures, which include funds from operations ("FFO") and net operating income ("NOI") to measure, compare and explain the operating results and financial performance of the Company. These terms are commonly used by entities in the real estate industry as useful metrics for measuring performance. However, they do not have any standardized meaning prescribed by IFRS and are not necessarily comparable to similar measures presented by other publicly traded entities. These measures should be considered as supplemental in nature and not as a substitute for related financial information prepared in accordance with IFRS. 2#3NexLiving Communities At a Glance NexLiving communities inc. +9.3% SPNOI 8 Years Average Building Age *Excludes properties being repositioned 867 Suites * As of June 30, 2022 99% Occupancy *As of June 30, 2022 * YTD Q2 2022 $0.16 Share Price *As of September 6, 2022 $0.22 NAV per Share * As of June 30, 2022 4.93% Implied Cap Rate As of September 6, 2022 Internal Management Team $162mm Fair Value As of September 6, 2022. Properties held for under 12 months added at cost. 66% Debt to GBV * As of June 30, 2022#4GBB Corporate Overview 2006 週日日 NexLiving communities inc.#5Company Snapshot NexLiving communities inc. Description NexLiving is focused on the acquisition and management of multi-family rental properties in Atlantic Canada and Ontario: Targeting low and mid-rise properties, with close proximity to nature trails and parks, amenities and hospitals Buildings are typically newly built or refurbished class A, with modern high-end fixtures with an elevator and underground parking Focused on the active-living 55+ demographic Limited to no deferred capex Annualized NOI and Margin 5,425 65% 4,577 4,251 3,777 3,149 60% 2,685 2,040 1,593 1,192 55% 882 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 50% 2020 LTM NOI 2021 LTM NOI margin 2022 Portfolio Composition Oshawa Strathroy 6% 6% Lindsay 8% Saint John 26% N TSXV: NXLV Moncton 54% Occupancy 99% 99% 98% 98% 99% 98% 99% 99% 97% 96% Q1 Q2 Q3 Q4 Q1 2020 Q2 Q3 Q4 Q1 Q2 2021 2022 5#6Q3 3 N TSXV: NXLV 31 2018 Q4 31 31 73 Company History 2018 Q3 Raised $2.4mm of equity & convertible debt capital and reorganized NSX Silver into ViveRE Communities Inc. Acquired first property (31 units) for $5.2mm. 2019 Q2 Second building (42 units) acquired for $7.9mm. Issued $3.0mm in equity as part of a prospectus offering and as vendor consideration. Q4 Acquired a two property (46 units) portfolio for $5.5mm. Issued $1.5mm in equity & convertible debt as part of a private placement in Q3. Q1 Acquired a three property (124 units) portfolio for $13.5mm. Issued $4.0mm in equity & convertible debt as part of a private placement and vendor consideration. Q3 Acquired a seven property (128 units) portfolio for $14.7mm. Issued $3.7mm in equity & convertible debt to the vendor as consideration for the purchase. 2020 Q2 Acquired a property (20 units) for $7.3mm. Issued $2.7mm in equity & convertible debt as part of a private placement and vendor consideration. Q4 Acquired two properties (111 units) for $23.6mm. Issued $10.2mm of equity as part of a prospectus offering and vendor consideration 2021 Q2 Rebranded to NexLiving. Property acquired (47 units) for $12.8mm. Issued $3.3mm of equity under a private placement and vendor consideration. Q4 Acquired a seven property portfolio (156 units) for $21.3mm. Issued $27.3mm as part of a prospectus offering and a private placement. 2022 Current Two buildings (122 units) acquired for $25.1mm during Q2 2022. One building (40 units) acquired for $9.4mm subsequent to quarter end. [73 119 243 7 8 15 2630° Q1 Q2 Q3 Q4 Q1 Q2 Q3 40 2019 2020 Q4 Q1 Q2 2021 Suites Total Post Quarter Acq Building Total 391 502 18 18 17 17 502 549 Q3 33 440 549 60 Q4 705 705 25 25 Q1 2022 Q2 6 827 20 NexLiving communities inc.#7Experienced Management Team and Board of Directors Management & Operating Team STAVRO STATHONIKOS, President & CEO • • . 15-year capital markets career with broad experience in the areas of institutional equities, capital raising and M&A Advisor in a number of real estate focused transactions ranging from IPOs to restructuring to hostile take-overs Former Executive Director, Institutional Equities at CIBC Capital Markets CFA Charterholder MIKE ANAKA, Executive Vice Chair & Director 35-year career with PwC LLP, including as Managing Partner, Atlantic Canada Significant experience with, and proven advisor to, growth-oriented companies GLENN HOLMES, CFO • 23 years experience in the financial management of listed companies including equity financings, debt financings, corporate acquisitions and financial restructurings Former CFO and VP Finance of Etruscan Resources Inc. (TSX) Former VP Finance and Secretary-Treasurer for NovaGold Resources Inc. (TSX) Member of the Institute of Chartered Accountants of Nova Scotia ANNA MARIE CARTER, Controller • 11 years experience as Controller for public and private companies • 5 years in industry as an Assistant Controller of a division of a public company • 8 years working for a public accounting firm servicing a variety of industries, 5 years of which was with PwC LLP AHMED SHETHWALA, Business Development • 9-year career across capital markets and public accounting covering various real estate asset classes with experience in public company reporting, IPOs, equity and debt financings Previous experience in real estate equity research at National Bank Financial and as a Senior Manager at KPMG LLP Member of the Chartered Professional Accountants of Ontario Board of Directors • RICHARD TURNER, Chairman NexLiving President and CEO of Titanstar Investment Group Inc. Former Chairman of Pure Industrial REIT (TSX:AAR.UN), communities inc. Former Director of the Committee of the Vancouver 2010 Olympic and Paralympic Games DREW KOIVU, Director Principal, Multi-Residential Sales at Avison Young Over 25 years multi-residential brokerage experience Instrumental in Milestone Apartment REIT (formerly TSX: MST.UN) IPO listing DAVID PAPPIN, Director . Partner RECan Global GmbH and President PG Asset Management Former SVP and Portfolio Manager of Fiera Real Estate Investments Over 30 years experience in real estate investment, brokerage and management Dr. BRIAN RAMJATTAN, Director • President and CEO of Miranda Management, a privately held real estate company President and CEO Canadian AV, one of the Maritimes' largest AV companies Family physician for 27 years, Clinical Associate Professor at Memorial University BILL HENNESSEY, Director • • Managing Director at Colliers International CEO of Platinum Atlantic Realty Recently launched a 150-unit luxury condo in downtown Moncton ANDREA MORWICK, Director Managing Director, Investment Banking at Canaccord Genuity Former Managing Director, Head of Canadian Equity Sales Trading Desk at Bank of America Merrill Lynch Over two decades of capital markets experience across a variety of roles and organizations N TSXV: NXLV Significant current insider ownership interest at 20% 7#8B&B BBB B BBBE Company Strategy BEBE BE BBB B E E E BBB BB communities inc. NexLiving#9The Secondary Market Opportunity N TSXV: NXLV NexLiving communities inc. Strong Macro Backdrop Attractive Risk/Return Profile Rising home prices and ownership costs, especially in core markets, driving higher rental absorption across the country Target markets experiencing significant rent growth as a results of out-migration from major cities Increased federal immigration targets and policies - Canada targeting 1.2 million new immigrants in 2021-2023 Secondary market rents have begun to close gap to core rents resulting in higher yielding assets Favourable asset pricing given below market rents and less competition from institutional capital Enhanced risk-adjusted returns vs. lower yielding core urban markets In 2021, secondary market multi-family pricing achieved new highs of $200-250k per unit CMHC insurance equalizes mortgage rates and de-risks access to financing Mid-Market Multi-family 20-100 unit apartment properties are currently overlooked by large institutions and inaccessible to average investor leaving a gap in the market Represent the largest share of Atlantic Canada apartment market Ontario mid-cap properties are a $40-50 billion opportunity of undermanaged, undervalued 1960-70s unrenovated product with rents substantially below market Mid-market properties represent 1/3rd of Ontario's rental market with +4,500 properties or 250,000 units Attractive Tenant Base 55+ active living is a growing demographic that desires the lock-and-leave lifestyle and increasingly becoming an important tenant base in Canada Tenant benefits: condo-style living, active community, downsizing into an upscale apartment, lock-and-leave lifestyle Landlord benefits: lower capex profile due to ownership mentality and lower turnover. Ability to absorb market rent raises 9#10NexLiving Capitalizing on Opportunity NexLiving communities inc. Acquire Smart Increase Asset Value Balanced Capital Structure Focused on Returns and Per Share Metrics Acquire assets in secondary markets with strong population growth at attractive cap rates Off-market sole sourced transactions from strong partnerships and relationships Newly built class A, low and mid- rise properties with proximity to healthcare, transportation, grocery, pharmacies, & outdoor activities Buildings naturally populate with core 55+ demographic Newly built or newly refurbished properties have limited to no deferred capex Active property management Drive rents to market with unit turns Asset repositioning Cluster additional properties in target markets leveraging property management team Surface operational efficiencies Create ancillary revenue through the addition of desirable 3rd- party services Create and manage a well laddered debt maturity profile, capitalizing on refinancing opportunities Typically enter acquisition with conventional debt and refinance with CMHC Low payout ratio allows FCF to be directed towards reinvestment, deleveraging and acquisitions 18-24 month target to reduce leverage below 60% D/GBV Growing NAV and FFO per share through organic growth and accretive acquisitions Acquire buildings that are immediately cashflow positive, vs. peers growing through longer lead higher-risk developments Micro size results in meaningful accretion to shareholders with every acquisition Internalized management with significant insider ownership Increasing scale offers improvement to G&A ratio N TSXV: NXLV 10#11Strong Track Record of Creating Value per Share NexLiving communities inc. Nex has consistently grown NAV per share ... ... and FFO per share... $70 $0.22 $0.22 $60 0.52c 0.33c 0.36c 0.31c 0.20c $0.16 $50 $ Millions $40 $0.10 $30 $0.07 $20 (1.28c) (1.58c) יון (0.22c) (1.01c) (0.71c) $10 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 $- 2018 2019 2020 2021 Q2/22 2020 NAV NAVPS 2021 ■FFOPS LTM 2022 ... while rapidly growing efficiently... $ Millions $160 3.29% $120 2.73% $80 $40 . alongside material deleveraging. 80% 76% 76% 77% 76% 2.39% 73% 70% 1.71% 1.73% 1.43% 68% 68% 69% 68% 1.30% 1.36% 1.23% 1.13% 66% 66% 66% 64% 65% 66% 65% 65% 82% $0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2020 2021 2022 2020 2021 2022 Value of Properties LTM SG&A % of Prop. D/GBV D/GBV Incl. converts N TSXV: NXLV Q2 22 11#1211 New Brunswick Market RE e NexLiving communities inc.#13• New Brunswick Population Growth Population Growth Remains High • • New Brunswick home prices have remained strong in the face of higher rates Interprovincial migration is at an all-time high as: NexLiving communities inc. Atlantic Canada Population Growth 25,000 。 Canadians from all over the country (mainly Ontario) have been moving to Atlantic Canada 20,000 。 People have reevaluated their priorities and are looking for a change in lifestyle and improvement in lifestyle 15,000 。 The cost of living in New Brunswick is lower than most parts of Canada, offering families great value Upwards pressure on home prices makes the decision to sell your home and downsize into an apartment a more valuable option for target demographic 10,000 LTM Province Population Growth PEI 3.0% 2.1% SN BC 2.0% 5,000 1.7% 1.3% 1.2% 1.1% -5,000 0.7% 0.6% 0.5% 0.4% NB ON Canada AB MB NLL SK -10,000 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Interprovincial migrants Immigrants Net Migration Source: Statistics Canada as of June 22, 2022. Note: Atlantic Provinces include New Brunswick, Nova Scotia & PEI. The Maritimes population grew at a faster pace than the Prairies for the first time since the 1940s N TSXV: NXLV 13#145.0 10.0 Source The Canadian Real Estate Association 15.0 Greater Moncton Area Housing Statistics Months of Inventory Unsustainable 20.0 0.0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 All-time Low Vacancy Rate 8.3% $350,000 $300,000 $250,000 10-year average $200,000 $1,400 $1,300 $1,200 $1,100 5.9% $1,000 4.5% 3.7% 4.0% 3.3% $900 3.0% 2.1% $800 $700 2.9% 2.8% 2.2% $600 1.5% 2016 2017 2018 2019 2020 2021 Saint John, NB Moncton, NB N TSXV: NXLV $150,000 $100,000 Home Prices up +70% since 2018 $400,000 Jan 2013 Jul 2013 Jan 2014 Jul 2014 Jan 2015 Source The Canadian Real Estate Association Jul 2015 Jan 2016 Jul 2016 Jan 2017 Jul 2017 Jan 2018 Jul 2018 Jan 2019 Jul 2019 Jan 2020 Jul 2020 Jan 2021 Average 2-Bdrm Rents up +50% since 2018 гл Apr-161 Aug-16 Dec-16- Apr-17- Aug-17- Dec-17- Apr-18- Aug-18- 1 bedroom Dec-18- Apr-19- Aug-19- Dec-19- Apr-20 Aug-20 Dec-20- Apr-21- Aug-21 2 bedroom Dec-21- Apr-22- Aug-22- 14 44 Jul 2021 Jan 2022 Jul 2022 NexLiving communities inc.#15Financial Summary NexLiving communities inc.#16Balanced Capital Structure Current Capitalization - September 15, 2022 Share price Shares outstanding ITM dilutive securities Market cap Cash Cash ITM securities Convertible debentures Mortgages Enterprise Value In Place NOI Implied cap rate Total Debt Debt/GBV Gross Book Value Net WC NAV NAVPS % premium (discount) Debt Maturity Profile $0.16 $30 291.6 $25 $ 45.2 2.27% $20 1.97% 11.1 $ Millions $15 $10 110.3 $ 144.4 $5 $- 7.1 '22-'23 4.92% 110.3 68% 161.6 3.26% NexLiving communities inc. 1.97% 2.82% '23-'24 ■Mortgage Debt '24-'25 '25-'26 ■WAIR '26-'27 Note: Adjusted for subsequent events Debt to Gross Book Value 2.0 76% 64.4 73% $0.22 66% (29.8%) Q2/20 Q2/21 Q2/22 *Investment properties valued at fair market value (excluding properties acquired subsequent to Q2/22 which are valued at cost of acquisition in NAV). ■Mortgages ■Convertible debt N TSXV: NXLV 16 16