Shareholders Reaffirm Commitment to Extendicare with Resounding Vote

At its Annual Meeting of Shareholders held on May 29, 2023, Extendicare Inc. (TSX: EXE) – or the Company – saw all the nominees listed in its Management Information and Proxy Circular of April 17th be successfully elected as its new directors.

Topping off a momentous day, shareholders voted in favor of every measure and proposal as presented in the Information Circular. With a stronger and more diverse leadership team in place, the Company looks forward to continued success and growth in the coming years.

The total number of common shares represented by shareholders present in person or by proxy at the Meeting was 30,681,858, representing 36.14% of the Company’s outstanding common shares.

1. Election of Directors

The election of nine nominees to serve as directors of the Company until the next annual meeting, or until their successors are elected or appointed, was approved by a show of hands. Participating shareholders voted in favor of these nominees, signifying their commitment to the Company’s success. These nominees will serve dutifully to ensure the Company continues to flourish.

NomineeVotes For%Votes Against%
Norma Beauchamp27,750,56491.692,515,4588.31
Dr. Michael Guerriere30,010,72899.16255,2940.84
Sandra L. Hanington30,003,81699.13262,2060.87
Alan R. Hibben29,600,51397.80665,5092.20
Brent Houlden29,972,46699.03293,5560.97
Donna E. Kingelin29,988,46699.08277,5560.92
Samir Manji29,648,52697.96617,4962.04
Al Mawani29,590,24997.77675,7732.23
Alan D. Torrie29,330,79896.91935,2243.09

2. Appointment of Auditors

The shareholders of the Company have voted to appoint KPMG LLP as the auditors of the Company. Their term of office will run until the close of the next annual meeting. The board of directors will determine their remuneration. The vote was unanimous in favour of the appointment.

Votes For
Votes Withheld

3. Approach to Executive Compensation

A non-binding advisory resolution to accept the Company’s approach to executive compensation disclosed in the Company’s Information Circular was overwhelmingly approved by a show of hands. The results of the vote reflect strong support for the Company’s approach to executive compensation.

About Extendicare

At Extendicare, we are determined to offer top-notch care to seniors throughout Canada. Serving as the umbrella for Extendicare, ParaMed, Extendicare Assist, and SGP Purchasing Partner Network, our network of 103 long-term care homes and retirement communities, offer approximately 9.3 million hours of home health care services each year and group purchasing services to over 111,800 beds. With a committed staff of 18,000 employees, we are passionate about helping people live better lives and strive to provide the best care and services possible.

Forward-looking Statements

At Extendicare, we pride ourselves on providing our customers with the best insight into our future events, results, circumstances, economic performance and expectations. We believe our forward-looking statements will reflect our current beliefs, and is based upon reliable information and reasonable assumptions.

However, uncertain risks and other factors may cause our actual results to differ materially from our current expectations. With that said, we place no obligation to update or revise our forward-looking statements unless required by applicable securities laws. We want to ensure our customers have the utmost trust in us and are confident when relying on our statements.

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