SANDPIPER GROUP REDUCES ITS POSITION IN EXTENDICARE INC.

VANCOUVER, BC, Dec. 15, 2025 /CNW/ - Sandpiper Group ("Sandpiper"), together with its joint actors, has reduced its position in Extendicare Inc. ("Extendicare") (TSX: EXE) to 9.99%.

On December 15, 2025, Sandpiper, together with its joint actors, disposed of 2,500 common Shares of Extendicare ("Shares") in the open market under the facilities of the Toronto Stock Exchange, representing approximately 0.003% of the current issued and outstanding Shares (the "Transaction"). The aggregate gross proceeds received for the Transaction that is the subject of the accompanying Early Warning Report filed by Sandpiper is $56,125, being an average price of $22.45 per Share. Immediately prior to the Transaction, Sandpiper, together with its joint actors, owned and exercised control and direction over 9,447,976 Shares, representing approximately 10% of the 94,457,909 Shares issued and outstanding as at December 3, 2025, as reported on Extendicare's Shareholder Info/Number of Securities Outstanding webpage.

As a result of and immediately following the Transaction, Sandpiper, together with its joint actors, owns and exercises control and direction over an aggregate of 9,445,476 Shares, representing approximately 9.99% of the current issued and outstanding Shares.

The Shares were disposed of for investment purposes. Sandpiper continues to believe in its investment in Extendicare and Extendicare's ability to generate long-term value for its shareholders.

Sandpiper and its affiliates may, from time to time, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over the securities of Extendicare through market transactions, private agreements, or otherwise.

Extendicare's head office is located at 3000 Steeles Ave. East, Suite 400, Markham, Ontario, L3R 4T9.

Sandpiper's head office is located at 1000 – 1021 West Hastings Street, Vancouver, British Columbia, V6E 0C3.

An early warning report will be filed by Sandpiper in accordance with applicable securities laws. For further information and to obtain a copy of the early warning report filed by Sandpiper, please contact Vinay Panchal, Director, Capital Markets & Investor Relations, Sandpiper Group at (604) 558-4885.

About Sandpiper:

Sandpiper Group is an investment arm of the Manji family, focused on private acquisition opportunities and strategic equity investments. For more information about Sandpiper, visit www.sandpipergroup.ca. 

SOURCE Sandpiper Asset Management Inc.