Sienna Senior Living arranges $250M debenture offering

Mr. David Hung reports SIENNA ANNOUNCES OFFERING OF $250 MILLION OF 3.524% SERIES F SENIOR UNSECURED DEBENTURES AND REDEMPTION OF C$175 MILLION OF SERIES B SENIOR UNSECURED DEBENTURES Sienna Senior Living Inc. has agreed to issue $250-million aggregate principal amount of Series F senior unsecured debentures. The debentures, which will be issued at par, will bear interest at a rate of 3.524 per cent per annum and will mature on Dec. 18, 2028. The debentures are being offered on a best efforts agency basis by a syndicate of agents co-led by BMO Nesbitt Burns Inc., TD Securities and CIBC Capital Markets, as joint lead agents and bookrunners. The offering is expected to close on or about Dec. 18, 2025, subject to customary closing conditions. It is a condition of closing that the debentures be rated at least BBB with a stable trend by Morningstar DBRS. The debentures will be direct unsecured obligations of the company, and will rank equally and rateably with all other present and future unsecured and unsubordinated indebtedness of the company. Sienna intends to use the net proceeds from the offering to finance the early redemption of all of its $175-million aggregate principal amount of 3.450 per cent Series B senior unsecured debentures, due Feb. 27, 2026, on Dec. 22, 2025, and/or for general corporate purposes. The offering is being made by way of a private placement in each of the provinces of Canada. Redemption of Series B debentures Sienna also announced today that it has provided holders of its Series B debentures a notice of redemption pursuant to which Sienna will redeem the entire outstanding principal amount of the Series B debentures on Dec. 22, 2025, and has fixed Dec. 17, 2025, as the record date for this redemption. As of the date hereof, there is $175-million aggregate principal amount of Series B debentures outstanding. On the redemption date, the Series B debentures will be redeemed in accordance with their terms at a redemption price per $1,000 principal amount of the debentures equal to approximately $1,000.39498 plus accrued and unpaid interest to, but excluding, the redemption date of approximately $11.0589041, and will thereafter cease to be outstanding. About Sienna Senior Living Inc. Sienna Senior Living offers a full range of senior 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 15,000 employees are passionate about cultivating happiness in daily life. We seek Safe Harbor.