Mr. Vlad Volodarski reports

CHARTWELL RETIREMENT RESIDENCES ANNOUNCES THE ELECTION OF DIRECTORS AND OTHER VOTING RESULTS AS WELL AS NEW COMMITTEE COMPOSITION

The nominees listed in the management information circular dated March 31, 2023, were elected as trustees of Chartwell Retirement Residences Real Estate Investment Trust, trustees of CSH Trust and directors of Chartwell Master Care Corp. The detailed results of the votes: (i) for the election of directors and trustees; (ii) for the reappointment of KPMG LLP as auditor of Chartwell; and (iii) relating to executive compensation, submitted at Chartwell's annual meeting on Thursday, May 18, 2023, in Mississauga, Ont., are set out herein.

Chartwell's committee composition has also changed, as set out herein.

Voting results

Each of the three nominees proposed by management was elected as a trustee of Chartwell Retirement Residences (see an attached table).

As directed by unitholders of Chartwell, the Chartwell trustees voted units of CSH Trust to elect the trustees of CSH Trust (see an attached table).

As directed by unitholders of Chartwell, the Chartwell trustees caused the common shares of Chartwell Master Care to be voted to elect the directors of the corporation (see an attached table).

Final voting results on all matters voted on at the annual meeting of shareholders held on May 18, 2023, will also be published on SEDAR.

Committee composition

Audit committee:

• V. Ann Davis (chair);
• James Scarlett;
• Gary Whitelaw.

Compensation, governance and nominating committee:

• Ms. Davis;
• Valerie Pisano;
• Sharon Sallows (chair);
• Mr. Scarlett.

Investment committee:

• W. Brent Binions;
• Ms. Pisano;
• Ms. Sallows;
• Mr. Whitelaw (chair).

About Chartwell Retirement Residences Real Estate Investment Trust

Chartwell is in the business of serving and caring for Canada's seniors. Chartwell is committed to its vision of making people's lives better and to providing a happier, healthier and more-fulfilling life experience for its residents. Chartwell is an unincorporated, open-ended real estate trust that indirectly owns and operates a complete range of seniors housing residences, from independent supportive living through assisted living to long-term care. It is the largest operator in the Canadian seniors living sector, with nearly 200 properties in four provinces, including properties under development.