Mr. Vlad Volodarski reports

CHARTWELL ANNOUNCES THE APPOINTMENT OF JEFFREY BROWN AS ITS CHIEF FINANCIAL OFFICER

Chartwell Retirement Residences Real Estate Investment Trust has appointed Jeffrey Brown as chief financial officer (CFO), effective Oct. 30, 2023.

Mr. Brown has served as executive vice-president and chief financial officer of Porter Airlines since 2014. He joined Porter Airlines as its chief strategy and procurement officer in 2012, after an eight-year career with EdgeStone Capital Partners where he was a principal.

Mr. Brown is an accomplished business leader who is proficient in a complex business environment with significant capital, management and regulatory requirements, many employees, and numerous stakeholders.

"After an extensive search and a thorough selection process, I am very pleased to welcome Jeffrey to our team," commented Vlad Volodarski, Chartwell's chief executive officer. "Jeffrey's leadership of numerous transformational initiatives at Porter supported its growth from a start-up to what is now Canada's third-largest scheduled airline boasting an award-winning customer experience. His accomplishments in team and relationship building, strong business acumen, strategic mindset, and pragmatic approach to problem solving make him uniquely qualified to be a successful CFO at Chartwell."

"I am thrilled to be joining the Chartwell team and the commitment to deliver exceptional experiences to Chartwell's residents," added Mr. Brown. "There are many parallels with my experiences in building Porter Airlines into an award-winning, customer-centric airline led by a highly engaged team that I hope can bring value to the great team at Chartwell."

About Chartwell Retirement Residences Real Estate Investment Trust

Chartwell is in the business of serving and caring for Canada's seniors, 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 which indirectly owns and operates a complete range of seniors housing communities, from independent living through to assisted living and long-term care. Chartwell is the largest operator in Canada, serving over 25,000 residents in four provinces across the country.