Mr. Nitin Jain reports

SIENNA CONTINUES PLATFORM GROWTH IN ONTARIO

Sienna Senior Living Inc. has entered into a purchase agreement to acquire Stonemont On the Park, a 305-suite retirement residence in Ottawa, Ont.

The property opened in 2024 and is approximately 99 per cent occupied. Stonemont is conveniently located in Ottawa's east end and offers high-quality amenities as well as above- and below-grade parking.

The gross purchase price for Stonemont is approximately $170.7-million, or $560,000 per suite. The transaction includes an additional $10.0-million earnout contingent upon exceeding certain financial targets and is expected to close in Q4 2026, subject to regulatory and customary closing conditions. The company intends to finance the acquisition with available cash on hand and its credit facilities.

"With the addition of Stonemont, we are further expanding Sienna's retirement platform in a key market," said Nitin Jain, President and chief executive officer. "Following this transaction, we will have added approximately $1.2-billion of assets through acquisitions and developments since 2025. We continue to build on this momentum with a strong acquisition pipeline and Sienna's $625-million joint venture partnership with Fiera Infrastructure to accelerate long-term care redevelopments. These opportunities allow us to further scale our platform, enhance the experience of Sienna's residents and team members, while creating long-term value for our shareholders."

About Sienna Senior Living Inc.

Sienna Senior Living offers a full range of seniors' living options, including independent living, assisted living and memory care under its Aspira retirement brand, long-term care, and specialized programs and services. Sienna's approximately 15,500 employees are passionate about cultivating happiness in daily life. ]

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