Third Quarter 2026 Financial Supplemental

‌Supplemental Information

3rd Quarter 2026

‌Overview 3

Segment Overview 6

Senior Housing 7

General and Administrative ("G&A") Expense 12

Capital Expenditures 13

Cash Facility Lease Payments 14

Capital Structure 15

Definitions 16

Non-GAAP Financial Measures 18

2

Table of Contents

YTD 3Q26 vs YTD 3Q25

($ in 000s, except RevPAR and RevPOR)

RevPAR

Weighted average occupancy RevPOR

Total Average Units

Resident fees Net income (loss)

Net cash provided by operating activities Adjusted EBITDA

Adjusted Free Cash Flow

As of September 30, 2026

Leased

9,721

42,447

units

Owned

32,367

Leased

159

529

communities

Owned

366

Managed 359

Managed 4

Important Note Regarding Non-GAAP Financial Measures

3

• Adjusted EBITDA and Adjusted Free Cash Flow are financial measures that are not calculated in accordance with GAAP. See "Definitions" and "Non-GAAP Financial Measures" for the definitions of such measures and other important information regarding such measures, including reconciliations to the most comparable GAAP measures.

Overview

($ in 000s) Resident fees Management fees

Facility operating expense

Combined Segment Operating Income General and administrative expense (1)

Cash facility operating lease payments (see page 14)

Adjusted EBITDA

Transaction, Legal, and Organizational Restructuring Costs (2)

Interest expense, net (see page 14) Payment of financing lease obligations Changes in working capital (3)

Non-Development Capital Expenditures, net (4)

Property and casualty insurance proceeds Other

Adjusted Free Cash Flow

YTD 3Q26 vs YTD 3Q25

1. Excludes non-cash stock-based compensation expense and Transaction, Legal, and Organizational Restructuring Costs, see page 12.

2. Transaction, Legal, and Organizational Restructuring Costs includes transaction costs for stockholder relations advisory matters of $8.0 million and organizational restructuring costs of

   $9.3 million for the full year 2025.

   4

3. Excludes changes in prepaid insurance premiums financed with notes payable and lessor capital expenditure reimbursements under operating leases.

4. Amounts are presented net of lessor reimbursements, see page 13.

Adjusted EBITDA and Adjusted Free

Cash Flow

($ in 000s) Resident fees (2) Management fees

Facility operating expense

Combined Segment Operating Income

Combined segment operating margin General and administrative expense (3) Cash facility operating lease payments

Transaction, Legal, and Organizational Restructuring Costs

Interest expense, net

Payment of financing lease obligations Changes in working capital (4)

Non-Development Capital Expenditures, net (5) Property and casualty insurance proceeds Other

1. In September 2026, the Company acquired 17 previously leased communities. The results of operations of the previously leased communities are included in the Senior Housing Leased Portfolio and are excluded from the Senior Housing Owned Portfolio for all periods presented herein.

2. Resident fee revenue excluded from definitions of RevPAR and RevPOR is $2.1 million and $6.2 million, for the third quarter of 2026 and the nine months ended September 30, 2026, respectively.

3. Excludes non-cash stock-based compensation expense and Transaction, Legal, and Organizational Restructuring Costs, see page 12.

4. Excludes changes in prepaid insurance premiums financed with notes payable and lessor capital expenditure reimbursements under operating leases.

   5

5. Amounts are presented net of lessor reimbursements of $9.6 million and $23.9 million, for the third quarter of 2026 and the nine months ended September 30, 2026, respectively.

Adjusted EBITDA and Adjusted Free

Cash Flow Distribution(1)

1. Excludes reimbursed costs on behalf of managed communities.

   6

2. Not included in consolidated reported amounts.

Segment Overview

YTD 3Q26 vs YTD 3Q25

$ 43,212 $ 41,828 $ 43,181

35.9%

34.9%

35.2%

53 54 54

9,138 9,138 9,326

$ 4,389 $ 4,370 $ 4,384

84.1% 84.2% 84.2%

$ 5,217 $ 5,190 $ 5,207

$ 150,316 $ 145,776 $ 144,039

28.7%

28.2%

28.0%

472 468 458

30,415 30,041 29,447

$ 5,716 $ 5,706 $ 5,798

7

81.5% 81.8% 82.9%

Senior Housing Segments

Same Community RevPAR / Weighted Average

Occupancy

Same Community Community Labor Expenses

as a % of Revenue

Same Community Other Facility Operating Expenses

as a % of Revenue

8

Same Community Revenue

RevPAR / Weighted Average Occupancy

RevPAR

Weighted Average Occupancy

83.1%

83.6%

82.8%

82.9%

83.6%

81.1%

81.8%

$5,602

(1) Same Community portfolio reflects 515 communities which represents 98.1% of the Company's total consolidated communities.

(2) Excludes natural disaster expense, consisting primarily of remediation of storm damage, net of related insurance recoveries, of $1.1 million for the full year 2025.

Senior Housing: Same Community (1)

3.0%

4.5%

160 bps

70 bps

5.0%

5.4%

-%

-%

190 bps

220 bps

13.5%

16.0%

(2.5)%

(2.5)%

(4.4)%

(4.6)%

(1.6)%

(1.4)%

5.0%

5.4%

3.9%

4.5%

110 bps

70 bps

5.3%

5.3%

-%

-%

(30) bps

20 bps

4.4%

5.8%

(5.8)%

(5.1)%

(9.5)%

(9.9)%

(3.9)%

(2.7)%

5.4%

5.3%

5.3%

5.8%

70 bps

(20) bps

6.3%

5.5%

-%

-%

70 bps

140 bps

8.4%

10.1%

(5.1)%

(3.2)%

(5.8)%

(4.0)%

(4.6)%

(2.7)%

6.3%

5.5%

B(W)

B(W)

‌2025 2026

9

(1) Same Community portfolio reflects 52 Independent Living communities, 450 Assisted Living and Memory Care communities, and 13 CCRCs.

3Q26 vs 3Q25

YTD 3Q26 vs YTD 3Q25

Senior Housing Segments:

Same Community (1)

‌($ in 000s, except RevPAR and RevPOR)

Revenue

Facility operating expense

YTD 3Q26 vs YTD 3Q25

Owned Portfolio Operating Income

Interest expense: debt

Community level capital expenditures, net (see page 13)

Number of communities (period end) Total Average Units

RevPAR

Weighted average occupancy RevPOR

$4,018,933

Net Debt as of September 30, 2026 (see page 15)

1.9x

Interest Coverage for the twelve months ended September 30, 2026

1. The results of operations of 17 previously leased communities acquired in September 2026 are excluded from the Senior Housing Owned Portfolio for all periods presented herein.

   10

2. The results of operations of 30 previously leased communities acquired in February 2025 are included within the Senior Housing Owned Portfolio beginning with the full first quarter of 2025.

3. The number of owned communities (period end) for the third quarter of 2026 includes the 17 communities acquired in September 2026.

Senior Housing Owned Portfolio(1)

‌($ in 000s, except RevPAR and RevPOR)

Revenue

Facility operating expense

2025(2) 2026

YTD 3Q26 vs YTD 3Q25

Leased Portfolio Operating Income

Cash facility lease payments on leased portfolio (see page 14)

Community level capital expenditures, net (see page 13)

Number of communities (period end) Total Average Units

RevPAR

Weighted average occupancy RevPOR

$1,122,803

Operating and financing lease obligations as of September 30, 2026 (see page 19)

1.17x

Lease Coverage for the nine months ended September 30, 2026

1. The results of operations of 17 previously leased communities acquired in September 2026 are included in the Senior Housing Leased Portfolio for all periods presented herein.

2. During the six months ended December 31, 2025, the Company completed terminations of leases on 57 communities (6,294 units).

3. The results of operations of 30 previously leased communities acquired in February 2025 are excluded from the Senior Housing Leased Portfolio beginning with the full first quarter of 2025.

4. The number of leased communities (period end) for the third quarter of 2026 excludes the 17 communities acquired in September 2026.

   Facility Lease Maturity Information (Leased Portfolio as of September 30, 2026)(5)

   Initial Lease Maturities	Community Count	Total Units	Lease Payments (6)
   2026	-	-	$ -
   2027	-	-	$ -
   2028	1	116	$ 1,970
   2029	-	-	$ -
   2030	-	-	$ -
   Thereafter	158	9,605	$ 128,243
   Total	159 9,721 $ 130,213

5. Excludes the 17 communities acquired in September 2026.

   11

6. Cash facility lease payments for the nine months ended September 30, 2026.

Senior Housing Leased Portfolio(1)

($ in 000s)

G&A expense allocations (1)

Senior Housing Owned Portfolio allocation Senior Housing Leased Portfolio allocation All Other allocation

Subtotal G&A expense allocations

Non-cash stock-based compensation expense

Transaction, Legal, and Organizational Restructuring Costs (see page 4)

General and administrative expense

Consolidated, unless otherwise noted 2025 2026

YTD 3Q26 vs YTD 3Q25

1Q

2Q

3Q

4Q

Full Year

1Q

2Q

3Q

Resident fee revenue $ 777,454 $ 775,614 $ 775,140 $ 714,504 $3,042,712 $ 722,456 $ 708,482 $ 707,335

Resident fee revenue under management (2) 53,560 53,264 54,635 52,701 214,160 57,522 12,500 6,448

Total (consolidated and under management) $ 831,014 $ 828,878 $ 829,775 $ 767,205 $3,256,872 $ 779,978 $ 720,982 $ 713,783

B(W)

(8.7)%

(88.2)%

(14.0)%

B(W)

(8.2)%

(52.6)%

(11.0)%

G&A Expense as a Percentage of Resident Fee Revenue (Consolidated and Under Management)

G&A expense (excluding non-cash stock-based compensation expense and Transaction, Legal, and Organizational Restructuring Costs)

YTD 3Q26 vs YTD 3Q25

G&A expense (including non-cash stock-based compensation expense and Transaction, Legal, and Organizational Restructuring Costs)

1. G&A allocations are calculated based on the proportional amount of resident fee revenue (consolidated and under management) attributable to the segment or portfolio. G&A allocations presented herein exclude non-cash stock-based compensation expense and Transaction, Legal, and Organizational Restructuring Costs.

   12

2. Not included in consolidated reported amounts.

G&A Expense

‌($ in 000s, except for community level capital

YTD 3Q26 vs YTD 3Q25

expenditures, per average unit)

Community level capital expenditures, including allocations (1)

1Q 2Q 3Q 4Q

Full Year

1Q 2Q 3Q

B(W)

Senior Housing Owned Portfolio $ 26,803 $ 32,810 $ 29,266 $ 36,220

Senior Housing Leased Portfolio 9,783 6,822 4,165 (1,534)

Community level capital expenditures, net (A) 36,586 39,632 33,431 34,686

Corporate capital expenditures 4,541 9,182 5,010 7,632

Non-Development Capital Expenditures, net (1) $ 41,127 $ 48,814 $ 38,441 $ 42,318

$ 125,099

19,236

144,335

26,365

$ 170,700

$ 30,992 $ 27,119 $ 41,458

9,072 3,894 5,907

40,064 31,013 47,365

8,316 6,945 7,912

$ 48,380 $ 37,958 $ 55,277

(41.7)%

(41.8)%

(41.7)%

(57.9)%

(43.8)%

(12.0)%

9.1%

(8.0)%

(23.7)%

(10.3)%

Property and casualty insurance proceeds (1,415) (2,072) (204) (184)

received (1) $ 39,712 $ 46,742 $ 38,237 $ 42,134

(3,875)

$ 166,825

(140) (667) (213)

$ 48,240 $ 37,291 $ 55,064

4.4%

(44.0)%

(72.4)%

(12.8)%

Non-Development Capital Expenditures, net (1) $ 41,127 $ 48,814 $ 38,441 $ 42,318 Lessor reimbursements: non-development capital

expenditures 2,013 9,324 8,741 12,497

Change in related payables (1,332) (3,675) (5,594) 8,838

Development Capital Expenditures, net 9 3 1 -

Total cash paid for capital expenditures $ 41,817 $ 54,466 $ 41,589 $ 63,653

$ 170,700

32,575

(1,763)

13

$ 201,525

$ 48,380 $ 37,958 $ 55,277

4,775 9,482 9,635

(6,679) 983 (5,882)

- - 124

$ 46,476 $ 48,423 $ 59,154

(42.2)%

(11.7)%

Senior Housing Total Average Units (B) 50,840 50,812 50,012 45,526 Community level capital expenditures, net, per

average unit (A/B) $ 720 $ 780 $ 668 $ 762

49,297

$ 2,928

43,637 42,820 42,383

$ 918 $ 724 $ 1,118

(15.3)%

(67.4)%

(15.0)%

(27.2)%

13

1. Amounts are presented net of lessor reimbursements.

Capital Expenditures

‌($ in 000s)

Operating Lease Obligations Facility operating lease expense Operating lease expense adjustment

Cash facility operating lease payments

YTD 3Q26 vs YTD 3Q25

Financing Lease Obligations

Interest expense: financing lease obligations Payment of financing lease obligations

Cash financing lease payments

Total cash facility lease payments (1)

Interest Expense Reconciliation to Income Sta Interest expense: financing lease obligations Interest income

Interest expense: debt Interest expense, net

Amortization of deferred financing costs Change in fair value of derivatives Interest income

14

1. Includes cash lease payments for leases of community support centers and information technology systems and equipment.

   Cash Facility Lease Payments

   ‌Total Liquidity

   ($ in millions)

   Debt Principal (1) ($ in millions)	Fixed Rate	Variable Rate	Recurring Principal		Weighted
   	Maturities	Maturities	Payments	Total	Rate (2)
   2026 (3)	$ 23	$ -	$ 15	$ 38	3.22 %
   2027	-	-	48	48	5.03 %
   2028 (4)	333	575	48	956	5.70 %
   2029 (5)	714	78	43	835	4.33 %
   2030	506	289	31	826	4.36 %
   Thereafter	1,512	128	56	1,696	5.92 %
   Total	$ 3,088	$ 1,070	$ 241	$ 4,399	5.24 %

   $566

   $524

   $352

   $378

   $369

   09/30/2025 12/31/2025 03/31/2026 06/30/2026 09/30/2026

   As of September 30, 2026

   25%

   66%

   9%

   Fixed rate convertible senior notes

   $393

Line of credit available to draw ($176 million as of September 30, 2026)

Cash and cash equivalents and marketable securities ($348 million as of September 30, 2026)

Fixed rate debt (6) 5.14 %

Variable rate debt 6.16 %

($ in 000s)

Cash facility operating lease payments (see page 14) $ (176,450)

2029 Notes 3.50 %

Total debt

5.24 %

Adjusted EBITDA after cash financing lease payments

(A) $ 473,016

Cash financing lease payments (see page 14) (10,005)

Restricted cash held as collateral against existing debt (8,116) Net Debt (B) 4,018,933

Operating and financing lease obligations (see page 19) (8) 1,126,628 Adjusted Net Debt $ 5,145,561

Adjusted Annualized Leverage (9)

8.3 x

in Adjusted EBITDA.

(9) Adjusted to exclude $10.3 million of cash facility lease payments for previously leased communities acquired in September 2026.

15

Important Note Regarding Non-GAAP Financial Measures. Adjusted EBITDA, Adjusted EBITDA after cash financing lease payments, Net Debt, and Adjusted Net Debt are financial measures that are not calculated in accordance with GAAP. See "Definitions" and "Non-GAAP Financial Measures" for the definitions of such measures and other important information regarding such measures, including reconciliations to the most comparable GAAP measures.

Capital Structure

‌Adjusted EBITDA is a non-GAAP performance measure that the Company defines as net income (loss) excluding: benefit/provision for income taxes, non-operating income/ expense items, and depreciation and amortization; and further adjusted to exclude income/expense associated with non-cash, non-operational, transactional, legal, cost reduction, or organizational restructuring items that management does not consider as part of the Company's underlying core operating performance and that management believes impact the comparability of performance between periods. For the periods presented herein, such other items include non-cash impairment charges, operating lease expense adjustment, non-cash stock-based compensation expense, gain/loss on sale of communities, gain/loss on facility operating lease termination, and Transaction, Legal, and Organizational Restructuring Costs.

Adjusted Free Cash Flow is a non-GAAP liquidity measure that the Company defines as net cash provided by (used in) operating activities before: distributions from unconsolidated ventures from cumulative share of net earnings, changes in prepaid insurance premiums financed with notes payable, changes in operating lease assets and liabilities for lease termination, cash paid/received for gain/loss on facility operating lease termination, and lessor capital expenditure reimbursements under operating leases; plus: property and casualty insurance proceeds; less: Non-Development Capital Expenditures and payment of financing lease obligations.

Adjusted Net Debt is a non-GAAP financial measure that the Company defines as Net Debt, plus operating and financing lease obligations. Operating and financing lease obligations exclude operating lease obligations related to certain non-facility leases for which the related lease expense is included in Adjusted EBITDA.

Combined Segment Operating Income is defined by the Company as resident fee and management fee revenue of the Company, less facility operating expense. Combined Segment Operating Income does not include general and administrative expense or depreciation and amortization.

Community Labor Expense is a component of facility operating expense that includes regular and overtime salaries and wages, bonuses, paid-time-off and holiday wages, payroll taxes, contract labor, employee benefits, and workers' compensation.

Development Capital Expenditures means capital expenditures for community expansions, major community redevelopment and repositioning projects, and the development of new communities. Amounts of Development Capital Expenditures are presented net of lessor reimbursements.

16

Interest Coverage is calculated based on the trailing-twelve months Owned Portfolio Operating Income adjusted for an implied 5% management fee and capital expenditures at $350/unit, divided by the trailing-twelve months debt interest expense.

Lease Coverage is calculated based on the Leased Portfolio Operating Income, excluding resident fee revenue and facility operating expense of previously leased communities acquired and communities disposed during such period, adjusted for an implied 5% management fee and capital expenditures at an annualized rate of $350/ unit, divided by the cash facility lease payments for both operating leases and financing leases, excluding cash lease payments for leases of previously leased communities acquired and communities disposed during such period, community support centers, information technology systems and equipment, vehicles, and other equipment.

Leased Portfolio Operating Income is defined by the Company as resident fee revenue less facility operating expense for the Company's Senior Housing Leased Portfolio. Leased Portfolio Operating Income does not include general and administrative expense or depreciation and amortization.

Net Debt is a non-GAAP financial measure that the Company defines as the total of its debt and the outstanding balance on the line of credit, less unrestricted cash, marketable securities, and cash held as collateral against existing debt.

NM means not meaningful.

Non-Development Capital Expenditures is comprised of corporate and community-level capital expenditures, including those related to maintenance, renovations, upgrades, and other major building infrastructure projects for the Company's communities. Non-Development Capital Expenditures does not include capital expenditures for community expansions, major community redevelopment and repositioning projects, and the development of new communities (i.e. Development Capital Expenditures). Amounts of Non-Development Capital Expenditures are presented net of lessor reimbursements.

Owned Portfolio Operating Income is defined by the Company as resident fee revenue less facility operating expense for the Company's Senior Housing Owned Portfolio. Owned Portfolio Operating Income does not include general and administrative expense or depreciation and amortization.

Definitions

‌RevPAR, or average monthly senior housing resident fee revenue per available unit, is defined by the Company as resident fee revenue for the corresponding portfolio for the period (excluding revenue for private duty services provided to seniors living outside of the Company's communities), divided by the weighted average number of available units in the corresponding portfolio for the period, divided by the number of months in the period.

RevPOR, or average monthly senior housing resident fee revenue per occupied unit, is defined by the Company as resident fee revenue for the corresponding portfolio for the period (excluding revenue for private duty services provided to seniors living outside of the Company's communities), divided by the weighted average number of occupied units in the corresponding portfolio for the period, divided by the number of months in the period.

Same Community information reflects operating results and data of a consistent population of communities by excluding the impact of changes in the composition of the Company's portfolio of communities. The operating results exclude natural disaster expense and related insurance recoveries. The Company defines its same community portfolio as communities consolidated and operational for the full period in both comparison years. Consolidated communities excluded from the same community portfolio include communities acquired or disposed of since the beginning of the prior year, communities classified as assets held for sale, certain communities planned for disposition including through asset sales or lease terminations, certain communities that have undergone or are undergoing expansion, redevelopment, and repositioning projects, and certain communities that have experienced a casualty event that significantly impacts their operations.

Same Community Operating Income is defined by the Company as resident fee revenue less facility operating expense (excluding natural disaster expense and related insurance recoveries) for the Company's Same Community portfolio. Same Community Operating Income does not include general and administrative expense or depreciation and amortization.

Segment Operating Income is defined by the Company as segment revenue less segment facility operating expense. Segment Operating Income does not include general and administrative expense or depreciation and amortization. All Other Segment Operating Income consists primarily of the previously reported Management Services segment and excludes revenue for reimbursements for which the Company is the primary obligor of costs incurred on behalf of managed communities, and there is no facility operating expense associated with the All Other category. See the Segment Information note to the Company's consolidated financial statements for more information regarding the Company's segments.

Senior Housing Leased Portfolio represents Brookdale leased communities and does not include owned or managed communities, except for 17 previously leased communities which were acquired in September 2026 and are included within the Senior Housing Leased Portfolio for all periods presented herein.

Senior Housing Operating Income is defined by the Company as segment revenue less segment facility operating expense for the Company's Independent Living, Assisted Living and Memory Care, and CCRCs segments on an aggregate basis. Senior Housing Operating Income does not include general and administrative expense or depreciation and amortization.

Senior Housing Owned Portfolio represents Brookdale owned communities and does not include leased or managed communities. For all periods presented herein, the Senior Housing Owned Portfolio excludes 17 previously leased communities acquired in September 2026.

Total Average Units represents the average number of units operated during the period.

17

Transaction, Legal, and Organizational Restructuring Costs are general and administrative expenses. Transaction costs include those directly related to acquisition, disposition, financing, and leasing activity and stockholder relations advisory matters, and are primarily comprised of legal, finance, consulting, professional fees, and other third-party costs. Legal costs include charges associated with putative class action litigation. Organizational restructuring costs include those related to the Company's efforts to reduce general and administrative expense and its senior leadership changes, including severance.

Definitions

‌This Supplemental Information contains the financial measures Adjusted EBITDA, Adjusted EBITDA after cash financing lease payments, Adjusted Free Cash Flow, Net Debt, and Adjusted Net Debt (each as defined in the "Definitions" section), which are not calculated in accordance with U.S. generally accepted accounting principles ("GAAP"). Presentations of these non-GAAP financial measures are intended to aid investors in better understanding the factors and trends affecting the Company's performance and liquidity. However, investors should not consider these non-GAAP financial measures as a substitute for financial measures determined in accordance with GAAP, including net income (loss), income (loss) from operations, net cash provided by (used in) operating activities, short-term debt, long-term debt less current portion, or current portion of long-term debt. Investors are cautioned that amounts presented in accordance with the Company's definitions of these non-GAAP financial measures may not be comparable to similar measures disclosed by other companies because not all companies calculate non-GAAP measures in the same manner. Investors are urged to review the reconciliations set forth in this Appendix of these non-GAAP financial measures from the most comparable financial measures determined in accordance with GAAP and to review the information under "Non-GAAP Financial Measure" in the Company's earnings release dated November 6, 2026 for additional information regarding the Company's use and the limitations of Adjusted EBITDA.

($ in 000s)

Net income (loss)

18

Provision (benefit) for income taxes

Loss (gain) on debt modification and extinguishment, net

Other non-operating (income) loss Interest expense

Interest income

Income (loss) from operations Depreciation and amortization Asset impairment

Loss (gain) on sale of communities, net

Loss (gain) on facility operating lease termination, net

Operating lease expense adjustment

Non-cash stock-based compensation expense Transaction, Legal, and Organizational

Restructuring Costs

Adjusted EBITDA

Interest expense: financing lease obligations Payment of financing lease obligations

Adjusted EBITDA after cash financing lease payments

Appendix: Non-GAAP Financial Measures

19

($ in 000s) As of September 30, 2026

Appendix: Non-GAAP Financial Measures

(continued)

‌The Company believes that presentation of Adjusted Free Cash Flow as a liquidity measure is useful to investors because (i) it is one of the metrics used by the Company's management for budgeting and other planning purposes, to review the Company's historic and prospective sources of operating liquidity, and to review the Company's ability to service its outstanding indebtedness, pay dividends to stockholders, engage in share repurchases, and make capital expenditures, including development capital expenditures; and (ii) it provides an indicator to management to determine if adjustments to current spending decisions are needed.

Adjusted Free Cash Flow has material limitations as a liquidity measure, including: (i) it does not represent cash available for dividends, share repurchases, or discretionary expenditures since certain non-discretionary expenditures, including mandatory debt principal payments, are not reflected in this measure; (ii) the cash portion of non-recurring charges related to gain/loss on facility lease termination generally represent charges/gains that may significantly affect the Company's liquidity; and (iii) the impact of timing of cash expenditures, including the timing of non-development capital expenditures, limits the usefulness of the measure for short-term comparisons.

($ in 000s)

Net cash provided by (used in) investing activities Net cash provided by (used in) financing activities

Net increase (decrease) in cash, cash equivalents and restricted cash

Changes in prepaid insurance premiums financed with notes payable

Changes in operating lease assets and liabilities for lessor capital expenditure reimbursements

Changes in operating lease assets and liabilities for lease termination

Non-development capital expenditures, net Property and casualty insurance proceeds Payment of financing lease obligations Adjusted Free Cash Flow

Net cash provided by operating activities

Net cash provided by operating activities

Brookdale Senior Living Inc.

105 Westwood Place

Brentwood, TN 37027

20

(615) 221-2250

brookdale.com

Appendix: Non-GAAP Financial Measures

(continued)