Citi Investment Banking Pitch Book

Selected Public Healthcare Operators A Alerislife Never stop advancing ($ in millions) Portfolio Business Mix Selected Financial Metrics Profitability & Growth Outlook Primary Business Geographic Diversity Facility Types Community Mix (% of Total Communities) Owned Leased Managed Business Mix (% of 3Q22 Revenue) Senior Living Home Care Facility-Based Services Hospice Other (3) Enterprise Value Market Capitalization Net Debt / LTM EBITDA Price / 2023E EPS Revenue Growth 2023E-2024E 2023E EBITDA 2024E EBITDA 2025E EBITDA EBITDA Growth 2023E-2024E EBITDA Growth 2024E-2025E Senior Living / Rehabilitation 30 States 140 Senior Living Communities/ 203 Outpatient Locations/ 8 Inpatient Clinics 14% O 86% 35% 65% $51(4) 27(4) NM NM 12.3% $4.3 18.0 23.6 315.7% 30.8 BROOKDALE SENIOR LIVING- Senior Living 41 States 672 Senior Living Communities 51% 100% $3,996 537 13.4x NM 7.7% $266.2 329.7 ΝΑ 23.8% ΝΑ 45% Sonida SENIOR LIVING Senior Living 18 States 76 Senior Living Communities O 18% O 100% $772 91 NM NM ΝΑ ΝΑ ΝΑ ΝΑ 82% ΝΑ ΝΑ Source: Public filings as of 09/30/2022 and FactSet as of 02/02/2023. Note: ALR financial information per ALR management. "NA" denotes not publicly available. (1) Pennant's subsidiaries lease and operate but do not own the underlying real estate of the operations. Pennant does not own any operating assets. (2) -1% of Facility-Based Services comes from the Windsong Home Health brand. (3) "Other" for Ensign includes real estate under Standard Bearer that is leased to skilled nursing and senior living operators. 14 (4) YE capitalization per ALR management, YE estimated net debt balance of $24.4mm excludes cash held by ALR's captive insurance entity per ALR management. ENSIGN Post-Acute Care 22 States 206 Central Locations 27% 73% 2% 4% 94% $5,098 5,260 NM 20.1 7.5% $428.4 GROUP 468.6 511.1 9.4% 9.1 ΡΕΝΝΑΝΤ Home Health / Hospice /Senior Living 14 States 94 HH&H Agencies/ 49 Senior Living Facilities 100% (¹) 34% 28% 38% $438 379 3.2x 17.5 6.7% $40.0 43.9 49.7 GROUP 9.6% 13.4 cíti

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