Number of Securities Outstanding

Effective July 1, 2012, Extendicare Real Estate Investment Trust (the “REIT”) completed its conversion from an income trust structure (named “Extendicare Real Estate Investment Trust”) to a corporate structure (named “Extendicare Inc.”) pursuant to a plan of arrangement (the “Arrangement”).

Under the Arrangement, holders of units of Extendicare Real Estate Investment Trust (“REIT Units”) had their REIT Units exchanged for common shares of Extendicare Inc. (the “Common Shares”) on the basis of one Common Share for each REIT Unit.

The Common Shares commenced trading on the Toronto Stock Exchange (the “TSX”) on Thursday, July 5, 2012 under the trading symbol “EXE” and the REIT Units were de-listed concurrently.

Former registered holders of the REIT Units (meaning their units are not held on account with a broker), are required to complete, execute and deliver a Letter of Transmittal, in the form sent with the REIT’s Management Information and Proxy Circular dated April 2, 2012, together with the certificates representing their REIT Units, to Computershare Investor Services Inc. (the “Depositary”), in the manner specified therein. Former registered unitholders will not receive a DRS Advice evidencing their ownership of Common Shares (or any dividends declared on the Common Shares) until they submit the certificates for their REIT Units to the Depositary along with a duly completed Letter of Transmittal.

A copy of the April 2, 2012 Letter of Transmittal is available in the document list at the bottom of this page.

The Letter of Transmittal should be sent directly to our transfer agent, Computershare, for processing:

Computershare Investor Services Inc.
100 University Ave, 8th Floor
Toronto, ON M5J 2Y1.