Sienna Senior Living Short Form Offering

Goodmans LLP acted for Sienna Senior Living Inc. (“Sienna”) in connection with their agreement with a syndicate of underwriters (the “Underwriters”) led by TD Securities Inc., as sole bookrunner, under which the Underwriters have agreed to buy, on a bought deal basis, 5,000,000 common shares of the Company (the “Common Shares”) at a price of $15.00 per Common Share (the “Offering Price”) for gross proceeds of $75 million (the “Offering”).

The Company has also granted the Underwriters an option (the “Over-Allotment Option”) to purchase up to an additional 750,000 Common Shares at the Offering Price to cover the Underwriters' over-allocation position, if any, exercisable, in whole or in part, no later than 30 days after the closing of the Offering. If the Over-Allotment Option is exercised in full, the gross proceeds to the Company will be approximately $86 million.

The Company intends to use the net proceeds of the Offering and any Over-Allotment Option to partially fund the Acquisitions and pay the Company's expenses of the Acquisitions.