Chartwell Retirement Residences · TSX:CSH.UN
Chartwell Retirement Residences — Q3 2026 Earnings Presentation
33 slides from Chartwell Retirement Residences's earnings presentation, Nov 5, 2026
Slide 1: Investor Presentation Q3 2026
Investor Presentation Q3 2026 November 5, 2026
Slide 2: Cautionary Statements
Cautionary Statements This presentation contains forward-looking information that reflects the current expectations, estimates and projections of management about the future results, performance, achievements, prospects or opportunities for Chartwell and the seniors housing industry. Forward-looking
Slide 3: Chartwell at-a-Glance
Chartwell at-a-Glance 30,000+ 95.3% 13,000 Suites (1) Occupancy (2) Engaged Employees $1.3B $540M Revenue (3) Adjusted NOI (4) $6.8B $467M 6.8x Market Capitalization (5) Liquidity (6) Net Debt to Adjusted EBITDA (7) (1) Based on Chartwell’s portfolio of residences as at September 30, 2026. Includes
Slide 4: Chartwell Investment Highlights
Chartwell Investment Highlights 1 Integrated investment, asset management and operating platform. Scalable Unparalleled corporate support programs empowering our residences’ Management leaders to excel. Platform Proven track record of execution. Leading national brand. 2 Geographically div
Slide 5: 2028 Strategy Scorecard
2028 Strategy Scorecard We expect to deliver robust FFOPU growth through the achievement of the following targets: Target Results Chartwell’s Strategy Statement Same Property Performance Weighted average occupancy > 95% 94.6% REVPOS growth (1) > 4% 5.1% In 2026-2028, we will generate DOEPOS growth (
Slide 6: Performance Driven Management
Performance Driven Management Scalable Management Platform Sales, Marketing, and Pricing Staffing, Food, and Cost Management 3-Year Growth Centrally Developed and Locally Led FFOPU CAGR (3) 29.6% Resident Care Life Enrichment Programming Drives Adjusted NOI CAGR (3) Results Led by Highly Experienc
Slide 7: Case Study: Performance Driven Management
Case Study: Performance Driven Management Greater Montreal Area Portfolio Acquisition • Acquired five high-quality residences with an average age of 6 years in June 2024 • Chartwell’s management platform drove NOI growth from occupancy, REVPOS, operating margin, and commencement of high-return expan
Slide 8: Chartwell's Commitment to ESG
Chartwell’s Commitment to ESG Read the Full Report at investors.chartwell.com Taking Care of Our Residents Taking Care of Our People Attract, Engage, Develop, and Empower Taking Care of Our Communities Creating Societal Impact Taking Care of Our Environment Meaningful Approach to Environmental Stewa
Slide 9: High-Quality Real Estate Portfolio
High-Quality Real Estate Portfolio National Presence in Canada’s Largest Markets Portfolio Map British Columbia 2,753 Suites Alberta 2,687 Suites Quebec 13,045 Suites 1,196 Edmonton Ontario Greater Vancouver 11,380 Suites 731 Calgary 1,703 Quebec City 534 3,993 BC Interior 516 Montreal 658 Vancouver
Slide 10: Strong Portfolio Diversification
Strong Portfolio Diversification Geographically and Care Level Diversified By Level of Care (1) By Geographic Location (2) LTC 3% Alberta 9% AL 7% British Columbia 9% IL 7% Quebec 44% • Upscale to mid-market residences ISL 83% Ontario 38% • Urban and suburban markets with attractive demographics By
Slide 11: Market Imbalance Drives Rate & Occupancy Growth
Market Imbalance Drives Rate & Occupancy Growth Accelerating Demand Growing Supply Shortage (millions) 75-79 year old 80+ years old 10 Population of Age 75+ Year Olds Demand vs. Supply 9 8 80+ year old forecast CAGR 7 20-year 4.0% 6 5 4 3 2 1 0 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 2075
Slide 12: Canadian Stability Supports Sector Strength
Canadian Stability Supports Sector Strength Stable Democratic Society • G7 economy anchored by strong institutions, an independent judiciary, transparent regulatory frameworks, and a long track record of fiscal prudence AAA sovereign credit rating from all major agencies (one of only 9 countries wor
Slide 13: Stabilized Same Property Delivers Growth
Stabilized Same Property Delivers Growth Occupancy Stabilized – Focus on Revenue and Margin Growth Same Property Occupancy (1) 94.1% 94.6% 94.3% 94.8% 92.5% 90.6% 91.1% Same property 2026 YTD Growth REVPOS (2) $4,936 5.1% DOEPOS (2) $2,879 1.8% NOIPOS (2) $2,141 10.1% Q1 2025 Q2 2025 Q3 2025 Q4 2025
Slide 14: Growth Portfolio Opportunity
Growth Portfolio Opportunity 52 Properties, 9,306 Suites — 35% of Total Suites (1) (1) Q3 2026 Q3 2026 Weighted Average Occupancy Adjusted Operating Margin • Growth portfolio includes 95%+ all properties where 46.0% ownership interests were 43.4% acquired or changed since January 1, 2025 91.6% • Pro
Slide 15: Growth Accelerator: Acquisitions
Growth Accelerator: Acquisitions Acquired $3.2B of High-Quality Assets in Core Markets since 2024 (1) $3,200 $1,056 Highlights 2024 EMD-Batimo Quebec City Portfolio GMA Portfolio $166M, 582 Suites (3) $214M, 903 Suites (3) $511M, 2,331 Suites (3) May 2024 June 2024 November 2024 $2,144 $1,257 $2,144
Slide 16: Case Study: Acquisitions
Case Study: Acquisitions Strategic 23-Residence Partnership • Completed the acquisition of a 30% ownership interest on June 2, 2026, for $382.5M, funded through the proportionate assumption of in-place debt of ~$208.8M (majority CMHC-insured), with the balance paid in cash. The agreement provides fo
Slide 17: Growth Accelerator: Developments
Growth Accelerator: Developments Development Pipeline Targeting High-Demand Core Markets British Columbia 2,586 Suites Alberta 1,215 Suites Quebec 3,605 Suites 884 Edmonton Ontario Greater Vancouver 2,050 Suites 331 Calgary 2,276 310 Quebec City 957 BC Interior Greater Montreal 1,479 Gatineau 1,169
Slide 18: Case Study: Developments
Case Study: Developments EMD-Batimo Partnership Joint Site EMD- Chartwell Batimo Chartwell Buys at Selection Manages & Design Builds Stabilization Acquired Since 2014 In-Development 12 Properties 3 Properties 97.6% 3,848 suites 652 suites Occupancy (1) 54.8% Currently Owned Future Development Operat
Slide 19: High Cash Flow Conversion
High Cash Flow Conversion Scalable Platform Drives High Conversion of NOI to FFO NOI to FFO Conversion Rate 48% FFOPU (1) NOIPU (2) 2023 $0.55 $1.16 2024 FFOPU $0.76 NOIPU $1.31 58% 2025 FFOPU $0.95 NOIPU $1.53 62% Each $1 of NOIPU in 2025 generated 62¢ of FFOPU vs 48¢ in 2023 (1) Refer to the “Supp
Slide 20: Delivering Strong FFOPU Growth
Delivering Strong FFOPU Growth Growth Supports Distribution Increases • 2% distribution increase in March 2026 with FFO payout ratio below 60% target • Ongoing commitment to growing distributions on a sustainable basis, while retaining sufficient capital to fund strategic growth $1.10 FFOPU (1) $1.1
Slide 21: Strong Balance Sheet and Liquidity
Strong Balance Sheet and Liquidity Financial Flexibility to Support Growth Opportunities Interest Coverage Ratio (1) Net Debt to Adjusted EBITDA (1) Liquidity (2) 11.1x 10.2x 3.5x 3.5x 8.4x Cash $178M 6.9x 6.8x 2.5x 2.7x 2.3x Available credit facility $395M Total Liquidity $573M 2022 2023 2024 2025
Slide 22: Chartwell Investment Highlights
Chartwell Investment Highlights Scalable Management High-Quality Favourable Market Platform Portfolio Tailwinds Integrated investment, asset Geographically diversified, Aging demographics and constrained management and operating platform predominately fully-owned properties in new supply support str
Slide 23: Current Period Financial Results
Current Period Financial Results Q3 2026 Summary Increase/(Decrease) Q3 2026 Q3 2025 $ % Net income/(loss) $115.0M ($5.2M) $120.2M n/m FFO (1) $100.8M $73.0M $27.8M 38.0% FFOPU (1) $0.30 $0.24 $0.06 25.0% Same property: Occupancy 94.8% 92.5% n/a 2.3pp Adjusted NOI (2) $90.2M $79.0M $11.2M 14.1% NOIP
Slide 24: Current Period Financial Results
Current Period Financial Results Q3 2026 Same Property Summary Occupancy • 94 Residences Residences • 15,538 Suites (14,383 suites at share) 94.8% 92.5% • Gains in all platforms compared to Occupancy Q3 2025. Q3 2025 Q3 2026 • Higher occupancy. Revenue • Increase in REVPOS (2). Adjusted NOI (1) $79.
Slide 25: Current Period Financial Results
Current Period Financial Results Q3 2026 Adjusted NOI and Occupancy by Platform Adjusted NOI Occupancy Q3 Q3 Inc/(Dec) Q3 Q3 Change 2026 2025 $ % 2026 2025 Same Property: Western Canada $27.0M $23.1M $3.9M 16.8% 95.9% 94.0% 1.9pp Ontario $44.7M $39.6M $5.1M 12.9% 95.3% 90.9% 2.6pp Quebec $18.5M $16.
Slide 26: Current Period Financial Results
Current Period Financial Results Q3 2026 Debt Maturities Amortization Principal due at maturity Debentures WAIR 700.0 5.00% 4.66% 4.38% 4.31% 4.00% 4.13% 4.18% 4.17% 600.0 3.78% 4.00% 3.60% 500.0 3.00% 3.00% 3.00% 400.0 $ Millions 300.0 2.00% 200.0 1.00% 100.0 0.0 0.00% Remainder of 2027 2028 2029 2
Slide 27: Supplemental Information
Supplemental Information Reconciliation Table – Adjusted NOI 12 months 12 months December 31, Subtract: Add: September 30, ($000s) 2025 2025 YTD 2026 YTD 2026 Total portfolio Adjusted resident revenue 1,112,462 813,245 983,967 1,283,184 Adjusted other property revenue 18,229 13,720 14,690 19,199 Adj
Slide 28: Supplemental Information
Supplemental Information Reconciliation Table – REVPOS, DOEPOS, NOIPOS ($000s, except per occupied suites) Q3 2026 Q3 2025 Change 2026 YTD 2025 YTD Change Same property Adjusted resident revenue 205,374 189,159 16,215 604,201 555,298 48,903 Adjusted other property revenue 2,593 2,976 (383) 10,241 9,
Slide 29: Supplemental Information
Supplemental Information Reconciliation Table – FFO, FFOPU and Payout Ratio Q3 Q3 2026 2025 2024 2023 ($000s, except per unit amounts, number of units, and payout ratio) 2026 2025 YTD YTD YTD YTD 2025 2024 2023 Net income/(loss) 114,960 (5,206) 121,613 22,251 18,834 141,446 29,495 22,378 128,273 Add
Slide 30: Supplemental Information
Supplemental Information Reconciliation Table – Same Property Adjusted NOI ($000s) Q3 2026 Q3 2025 Change Property revenue 321,073 275,175 45,898 Add (Subtract): Share from joint ventures (1) 26,199 11,007 15,192 Share from non-controlling interest (2) - (926) 926 Adjusted property revenue 347,272 2
Slide 31: Supplemental Information
Supplemental Information Reconciliation Table – NOIPU ($000s, except number of units and per unit amounts) 2023 2024 2025 Property revenue 687,324 799,923 1,079,035 Add (Subtract): Share from joint ventures (1) 126,765 142,430 54,726 Share from non-controlling interest (2) - (2,710) (3,070) Results
Slide 32: Supplemental Information
Supplemental Information Reconciliation Table – Adjusted NOI, Same Property Occupancy ($000s, except occupancy rate) 2026 YTD 2025 YTD 2024 YTD 2023 YTD Property revenue 944,379 786,777 581,478 507,378 Add (Subtract): Share from joint ventures (1) 54,278 43,258 102,945 93,605 Share from non-controll
Slide 33: 7070 Derrycrest Drive Mississauga, Ontario L5W 0G5
7070 Derrycrest Drive Mississauga, Ontario L5W 0G5 www.investors.chartwell.com // [email protected]
Chartwell Retirement Residences — Q3 2026 Earnings Presentation on 6ix