Extendicare : Announces Timing of 2020 Fourth Quarter and Year End Results and Conference Call

NEWS RELEASE

Extendicare Announces Timing of 2020 Fourth Quarter Results and Year End

Results and Conference Call

MARKHAM, ONTARIO, January 25, 2021 - Extendicare Inc. ("Extendicare" or the "Company") (TSX: EXE) announced today that it plans to release its financial results for the fourth quarter and year ended December 31, 2020 after market close on Wednesday, February 24, 2021. A conference call hosted by Michael Guerriere, President and Chief Executive Officer and David Bacon, Senior Vice President and Chief Financial Officer, will be held on February 25, 2021, at 11:30 a.m. (ET) to discuss the results.

To participate in the conference call on February 25, 2021, please dial 1-800-319-4610 or 416-915- 3239. The conference call and accompanying slide presentation will also be accessible via webcast at www.extendicare.com under the "Our Investors/Events & Presentations" section. A replay of the call will be available approximately two hours after completion of the live call until midnight on March 12, 2021. To access the rebroadcast dial 1-800-319-6413 followed by the passcode 6044#.

About Extendicare

Extendicare is a leading provider of care and services for seniors across Canada, operating under the Extendicare, Esprit Lifestyle, ParaMed, Extendicare Assist, and SGP Purchasing Partner Network brands. We are committed to delivering quality care throughout the health continuum to meet the needs of a growing seniors population. We operate or provide contract services to a network of 122 long- term care homes and retirement communities (69 owned/53 contract services), provide approximately

8.5 million hours of home health care services annually, and provide group purchasing services to third parties representing approximately 79,400 senior residents across Canada. Our qualified and highly trained workforce of approximately 23,000 individuals is passionate about providing high quality services to help people live better.

Extendicare contact:

Jillian Fountain

Vice President, Investor Relations

Phone: [phone]; Fax: [phone]

Email: [e-mail]

www.extendicare.com