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Investor Presentaiton

IRGINIA Start-up funding and initial operating funds Basis/Assumptions SEMPER First staff hired in Month -8 • First residents admitted in Month 1 • Full census (95% or better) will be reached around Month 17 • Revenues catch up 2 months later (Month 19) . DVS VCCs operate on a reimbursement basis At the end of the month, DVS bills payer source (Medicaid, Medicare, etc.) • 30-60 days later, receive reimbursement check • Working capital advance (from state treasury) authorized: will cover start-up to break even · Funding for equipment replacement (ex. - wheelchairs, lifts, etc.) and "routine • New buildings - should require no major capital/maintenance reserve projects for 4-5 years maintenance" (ex- carpet replacement) will be needed sooner 13
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