a2q26supplemental

Supplemental Information 2nd Quarter 2026 Exhibit 99.2

2 Overview 3 Segment Overview 6 Senior Housing 7 General and Administrative ("G&A") Expense 12 Capital Expenditures 13 Cash Facility Lease Payments 14 Capital Structure 15 Definitions 16 Appendix: Non-GAAP Financial Measures 18 Table of Contents

3 Managed 570Owned 32,294 Leased 10,456 Managed 6 Owned 359 Leased 176 541 communities 43,320 units Important Note Regarding Non-GAAP Financial Measures • Adjusted EBITDA and Adjusted Free Cash Flow are financial measures that are not calculated in accordance with GAAP. See "Definitions" and "Non-GAAP Financial Measures" for the definitions of such measures and other important information regarding such measures, including reconciliations to the most comparable GAAP measures. 2025 2026 2Q26 vs 2Q25 YTD 2Q26 vs YTD 2Q25 ($ in 000s, except RevPAR and RevPOR) 1Q 2Q 3Q 4Q Full Year 1Q 2Q Better B (Worse) (W) B(W) RevPAR $ 5,090 $ 5,080 $ 5,158 $ 5,219 $ 5,134 $ 5,506 $ 5,497 8.2 % 8.2 % Weighted average occupancy 79.3% 80.1% 81.8% 82.5% 80.9% 82.1% 82.4% 230 bps 260 bps RevPOR $ 6,416 $ 6,343 $ 6,307 $ 6,324 $ 6,347 $ 6,705 $ 6,670 5.2 % 4.8 % Total Average Units 50,840 50,812 50,012 45,526 49,297 43,637 42,820 (15.7) % (14.9) % Resident fees $ 777,454 $ 775,614 $ 775,140 $ 714,504 $ 3,042,712 $ 722,456 $ 708,482 $ 1,430,938 (8.7) % (7.9) % Net income (loss) $ (64,993) $ (43,039) $ (114,738) $ (39,976) $ (262,746) $ (6,904) $ 23,257 NM NM Net cash provided by operating activities $ 23,402 $ 83,564 $ 76,525 $ 34,539 $ 218,030 $ 20,887 $ 91,915 10.0 % 5.5 % Adjusted EBITDA $ 124,139 $ 117,050 $ 111,071 $ 105,559 $ 457,819 $ 131,052 $ 122,062 4.3 % 4.9 % Adjusted Free Cash Flow $ 3,780 $ 19,908 $ 21,794 $ (22,659) $ 22,823 $ (12,225) $ 38,205 91.9 % 9.7 % 2Q 2026 weighted average occupancy (consolidated communities) Occupancy Band Community Count % of Period End Communities Greater than 95% 99 18% 90% > 95% 68 13% 85% > 90% 79 15% 80% > 85% 78 14% 75% > 80% 80 15% 70% > 75% 46 9% Less than 70% 85 16% Total 535 100% Overview As of June 30, 2026 Consolidated: 42,750 Consolidated: 535

4 2025 2026 2Q26 vs 2Q25 YTD 2Q26 vs YTD 2Q25 ($ in 000s) 1Q 2Q 3Q 4Q Full Year 1Q 2Q B(W) B(W) Resident fees $ 777,454 $ 775,614 $ 775,140 $ 714,504 $ 3,042,712 $ 722,456 $ 708,482 (8.7) % (7.9) % Management fees 2,620 2,623 2,698 2,912 10,853 5,373 742 (71.7) % 16.6 % Facility operating expense (556,987) (562,317) (566,985) (529,727) (2,216,016) (511,470) (503,455) 10.5 % 9.3 % Combined Segment Operating Income 223,087 215,920 210,853 187,689 837,549 216,359 205,769 (4.7) % (3.8) % General and administrative expense (1) (42,221) (41,371) (43,104) (38,422) (165,118) (40,606) (38,896) 6.0 % 4.9 % Cash facility operating lease payments (see page 14) (56,727) (57,499) (56,678) (43,708) (214,612) (44,701) (44,811) 22.1 % 21.6 % Adjusted EBITDA 124,139 117,050 111,071 105,559 457,819 131,052 122,062 4.3 % 4.9 % Transaction, Legal, and Organizational Restructuring Costs (2) (1,674) (10,513) (5,129) (770) (18,086) (771) (4,515) 57.1 % 56.6 % Interest expense, net (see page 14) (56,611) (56,479) (56,833) (56,032) (225,955) (54,257) (53,922) 4.5 % 4.3 % Payment of financing lease obligations (289) (297) (304) (305) (1,195) (296) (302) (1.7) % (2.0) % Changes in working capital (3) (21,535) 17,378 11,769 (29,137) (21,525) (39,132) 12,887 (25.8) % NM Non-Development Capital Expenditures, net (4) (41,127) (48,814) (38,441) (42,318) (170,700) (48,380) (37,958) 22.2 % 4.0 % Property and casualty insurance proceeds 1,415 2,072 204 184 3,875 140 667 (67.8) % (76.9) % Other (538) (489) (543) 160 (1,410) 3 2 (581) (714) (46.0) % (26.1) % Adjusted Free Cash Flow $ 3,780 $ 19,908 $ 21,794 $ (22,659) $ 22,823 $ (12,225) $ 38,205 91.9 % 9.7 % Adjusted EBITDA and Adjusted Free Cash Flow (1) Excludes non-cash stock-based compensation expense and Transaction, Legal, and Organizational Restructuring Costs, see page 12. (2) Transaction, Legal, and Organizational Restructuring Costs includes transaction costs for stockholder relations advisory matters of $8.0 million and organizational restructuring costs of $9.3 million for the full year 2025. (3) Excludes changes in prepaid insurance premiums financed with notes payable and lessor capital expenditure reimbursements under operating leases. (4) Amounts are presented net of lessor reimbursements, see page 13.

5 (1) Resident fee revenue excluded from definitions of RevPAR and RevPOR is $2.3 million and $4.0 million, for the second quarter of 2026 and the first half of 2026, respectively. (2) Excludes non-cash stock-based compensation expense and Transaction, Legal, and Organizational Restructuring Costs, see page 12. (3) Excludes changes in prepaid insurance premiums financed with notes payable and lessor capital expenditure reimbursements under operating leases. (4) Amounts are presented net of lessor reimbursements of $9.5 million and $14.3 million, for the second quarter of 2026 and the first half of 2026, respectively. 2Q26 YTD 2Q26 ($ in 000s) Total Senior Housing Owned Portfolio Senior Housing Leased Portfolio Corporate and All Other Total Senior Housing Owned Portfolio Senior Housing Leased Portfolio Corporate and All Other Resident fees (1) $ 708,482 $ 512,114 $ 196,368 $ — $ 1,430,938 $ 1,037,241 $ 393,697 $ — Management fees 742 — — 742 6,115 — — 6,115 Facility operating expense (503,455) (371,653) (131,802) — (1,014,925) (751,352) (263,573) — Combined Segment Operating Income 205,769 140,461 64,566 742 422,128 285,889 130,124 6,115 Combined segment operating margin 29.0 % 27.4 % 32.9 % 100.0 % 29.4 % 27.6 % 33.1 % 100.0 % General and administrative expense (2) (38,896) (27,628) (10,594) (674) (79,502) (54,968) (20,867) (3,667) Cash facility operating lease payments (44,811) — (44,476) (335) (89,512) — (88,841) (671) Adjusted EBITDA 122,062 112,833 9,496 (267) 253,114 230,921 20,416 1,777 Transaction, Legal, and Organizational Restructuring Costs (4,515) — — (4,515) (5,286) — — (5,286) Interest expense, net (53,922) (56,112) (1,467) 3,657 (108,179) (111,782) (2,940) 6,543 Payment of financing lease obligations (302) — (94) (208) (598) — (185) (413) Changes in working capital (3) 12,887 — — 12,887 (26,245) — — (26,245) Non-Development Capital Expenditures, net (4) (37,958) (27,119) (3,894) (6,945) (86,338) (58,111) (12,966) (15,261) Property and casualty insurance proceeds 667 — — 667 807 — — 807 Other (714) — — (714) (1,295) — — (1,295) Adjusted Free Cash Flow $ 38,205 $ 29,602 $ 4,041 $ 4,562 $ 25,980 $ 61,028 $ 4,325 $ (39,373) Adjusted EBITDA and Adjusted Free Cash Flow Distribution

6 2025 2026 2Q26 vs 2Q25 YTD 2Q26 vs YTD 2Q25 ($ in 000s, except RevPAR and RevPOR) 1Q 2Q 3Q 4Q Full Year 1Q 2Q B(W) B(W) Total Senior Housing and All Other Revenue (1) $ 780,074 $ 778,237 $ 777,838 $ 717,416 $ 3,053,565 $ 727,829 $ 709,224 (8.9) % (7.8) % Combined Segment Operating Income $ 223,087 $ 215,920 $ 210,853 $ 187,689 $ 837,549 $ 216,359 $ 205,769 (4.7) % (3.8) % Combined segment operating margin 28.6 % 27.7 % 27.1 % 26.2 % 27.4 % 29.7 % 29.0 % 130 bps 120 bps Senior Housing Segments (see page 7) Revenue $ 777,454 $ 775,614 $ 775,140 $ 714,504 $ 3,042,712 $ 722,456 $ 708,482 (8.7) % (7.9) % Senior Housing Operating Income $ 220,467 $ 213,297 $ 208,155 $ 184,777 $ 826,696 $ 210,986 $ 205,027 (3.9) % (4.1) % Operating margin 28.4 % 27.5 % 26.9 % 25.9 % 27.2 % 29.2 % 28.9 % 140 bps 120 bps Number of communities (period end) 619 617 593 548 548 539 535 (13.3) % (13.3) % Total Average Units 50,840 50,812 50,012 45,526 49,297 43,637 42,820 (15.7) % (14.9) % RevPAR $ 5,090 $ 5,080 $ 5,158 $ 5,219 $ 5,134 $ 5,506 $ 5,497 8.2 % 8.2 % Weighted average occupancy 79.3 % 80.1 % 81.8 % 82.5 % 80.9 % 82.1 % 82.4 % 230 bps 260 bps RevPOR $ 6,416 $ 6,343 $ 6,307 $ 6,324 $ 6,347 $ 6,705 $ 6,670 5.2 % 4.8 % All Other All Other Segment Operating Income (comprised solely of management fees) $ 2,620 $ 2,623 $ 2,698 $ 2,912 $ 10,853 $ 5,373 $ 742 (71.7) % 16.6 % Resident fee revenue under management (2) $ 53,560 $ 53,264 $ 54,635 $ 52,701 $ 214,160 $ 57,522 $ 12,500 (76.5) % (34.5) % Segment Overview (1) Excludes reimbursed costs on behalf of managed communities. (2) Not included in consolidated reported amounts.

7 2025 2026 2Q26 vs 2Q25 YTD 2Q26 vs YTD 2Q25 ($ in 000s, except RevPAR and RevPOR) 1Q 2Q 3Q 4Q Full Year 1Q 2Q B(W) B(W) Independent Living Revenue $ 157,117 $ 158,135 $ 156,996 $ 121,565 $ 593,813 $ 120,330 $ 119,786 (24.3) % (23.8) % Segment Operating Income $ 54,232 $ 53,598 $ 51,503 $ 38,213 $ 197,546 $ 43,212 $ 41,828 (22.0) % (21.1) % Segment operating margin 34.5 % 33.9 % 32.8 % 31.4 % 33.3 % 35.9 % 34.9 % 100 bps 120 bps Number of communities (period end) 68 68 66 53 53 53 54 (20.6) % (20.6) % Total Average Units 12,582 12,584 12,337 9,754 11,814 9,138 9,138 (27.4) % (27.4) % RevPAR $ 4,162 $ 4,189 $ 4,242 $ 4,154 $ 4,189 $ 4,389 $ 4,370 4.3 % 4.9 % Weighted average occupancy 81.2 % 82.0 % 83.8 % 84.5 % 82.8 % 84.1 % 84.2 % 220 bps 260 bps RevPOR $ 5,127 $ 5,109 $ 5,063 $ 4,917 $ 5,061 $ 5,217 $ 5,190 1.6 % 1.7 % Assisted Living and Memory Care Revenue $ 533,379 $ 531,318 $ 531,941 $ 506,665 $ 2,103,303 $ 523,188 $ 516,589 (2.8) % (2.3) % Segment Operating Income $ 149,553 $ 142,707 $ 140,685 $ 130,465 $ 563,410 $ 150,316 $ 145,776 2.2 % 1.3 % Segment operating margin 28.0 % 26.9 % 26.4 % 25.7 % 26.8 % 28.7 % 28.2 % 130 bps 100 bps Number of communities (period end) 534 532 510 480 480 472 468 (12.0) % (12.0) % Total Average Units 33,524 33,494 32,941 31,043 32,750 30,415 30,041 (10.3) % (9.8) % RevPAR $ 5,292 $ 5,276 $ 5,370 $ 5,422 $ 5,338 $ 5,716 $ 5,706 8.2 % 8.1 % Weighted average occupancy 78.7 % 79.6 % 81.4 % 82.4 % 80.5 % 81.5 % 81.8 % 220 bps 250 bps RevPOR $ 6,720 $ 6,627 $ 6,595 $ 6,583 $ 6,632 $ 7,011 $ 6,975 5.3 % 4.8 % CCRCs Revenue $ 86,958 $ 86,161 $ 86,203 $ 86,274 $ 345,596 $ 78,938 $ 72,107 (16.3) % (12.8) % Segment Operating Income $ 16,682 $ 16,992 $ 15,967 $ 16,099 $ 65,740 $ 17,458 $ 17,423 2.5 % 3.6 % Segment operating margin 19.2 % 19.7 % 18.5 % 18.7 % 19.0 % 22.1 % 24.2 % 450 bps 360 bps Number of communities (period end) 17 17 17 15 15 14 13 (23.5) % (23.5) % Total Average Units 4,734 4,734 4,734 4,729 4,733 4,084 3,641 (23.1) % (18.4) % RevPAR $ 6,123 $ 6,067 $ 6,070 $ 6,081 $ 6,085 $ 6,443 $ 6,601 8.8 % 6.9 % Weighted average occupancy 78.5 % 78.5 % 79.2 % 79.6 % 78.9 % 82.0 % 82.9 % 440 bps 390 bps RevPOR $ 7,798 $ 7,729 $ 7,669 $ 7,644 $ 7,709 $ 7,859 $ 7,959 3.0 % 1.8 % Senior Housing Segments

8 2025 2026 2Q26 vs 2Q25 YTD 2Q26 vs YTD 2Q25 ($ in 000s, except RevPAR and RevPOR) 1Q 2Q 3Q 4Q Full Year 1Q 2Q B(W) B(W) Revenue $ 654,441 $ 652,596 $ 657,848 $ 656,381 $ 2,621,266 $ 690,616 $ 688,720 5.5 % 5.5 % Community Labor Expense (293,048) (300,578) (305,927) (310,563) (1,210,116) (307,903) (311,389) (3.6) % (4.3) % % of revenue 44.8 % 46.1 % 46.5 % 47.3 % 46.2 % 44.6 % 45.2 % 90 bps 50 bps Other facility operating expense (160,819) (159,399) (163,435) (163,812) (647,465) (172,901) (173,852) (9.1) % (8.3) % % of revenue 24.6 % 24.4 % 24.8 % 25.0 % 24.7 % 25.0 % 25.3 % (90) bps (60) bps Facility operating expense (2) (453,867) (459,977) (469,362) (474,375) (1,857,581) (480,804) (485,241) (5.5) % (5.7) % Same Community Operating Income $ 200,574 $ 192,619 $ 188,486 $ 182,006 $ 763,685 $ 209,812 $ 203,479 5.6 % 5.1 % Same Community operating margin 30.6 % 29.5 % 28.7 % 27.7 % 29.1 % 30.4 % 29.5 % 0 bps (10) bps Total Average Units 41,236 41,237 41,239 41,239 41,238 41,237 41,238 — % — % RevPAR $ 5,290 $ 5,275 $ 5,317 $ 5,306 $ 5,297 $ 5,582 $ 5,567 5.5 % 5.5 % Weighted average occupancy 81.1 % 81.8 % 83.1 % 83.6 % 82.4 % 82.8 % 82.9 % 110 bps 140 bps RevPOR $ 6,526 $ 6,452 $ 6,396 $ 6,348 $ 6,429 $ 6,745 $ 6,714 4.1 % 3.7 % Senior Housing: Same Community (1) Same Community RevPAR / Weighted Average Occupancy $5,290 $5,275 $5,317 $5,306 $5,582 $5,567 81.1% 81.8% 83.1% 83.6% 82.8% 82.9% RevPAR Weighted Average Occupancy 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 (1) Same Community portfolio reflects 515 communities which represents 96.3% of the Company's total consolidated communities. (2) Excludes natural disaster expense, consisting primarily of remediation of storm damage, net of related insurance recoveries, of $1.1 million for the full year 2025.

9 2025 2026 2Q26 vs 2Q25 YTD 2Q26 vs YTD 2Q25 ($ in 000s, except RevPAR and RevPOR) 1Q 2Q 3Q 4Q Full Year 1Q 2Q B(W) B(W) Independent Living Revenue $ 110,644 $ 111,381 $ 112,163 $ 112,184 $ 446,372 $ 118,706 $ 118,071 6.0 % 6.6 % Community Labor Expense (40,116) (41,588) (42,243) (42,961) (166,908) (42,745) (43,525) (4.7) % (5.6) % Other facility operating expense (31,514) (31,452) (32,368) (32,499) (127,833) (33,418) (33,833) (7.6) % (6.8) % Facility operating expense (71,630) (73,040) (74,611) (75,460) (294,741) (76,163) (77,358) (5.9) % (6.1) % Same Community Operating Income $ 39,014 $ 38,341 $ 37,552 $ 36,724 $ 151,631 $ 42,543 $ 40,713 6.2 % 7.6 % Same Community operating margin 35.3 % 34.4 % 33.5 % 32.7 % 34.0 % 35.8 % 34.5 % 10 bps 40 bps Total Average Units 8,940 8,940 8,940 8,940 8,940 8,941 8,941 — % — % RevPAR $ 4,125 $ 4,153 $ 4,182 $ 4,183 $ 4,161 $ 4,426 $ 4,402 6.0 % 6.6 % Weighted average occupancy 82.8 % 83.5 % 84.8 % 85.1 % 84.1 % 84.4 % 84.4 % 90 bps 120 bps RevPOR $ 4,984 $ 4,972 $ 4,930 $ 4,915 $ 4,950 $ 5,242 $ 5,218 4.9 % 5.1 % Assisted Living and Memory Care Revenue $ 476,069 $ 474,134 $ 479,151 $ 477,125 $ 1,906,479 $ 501,526 $ 499,754 5.4 % 5.4 % Community Labor Expense (218,365) (224,328) (228,578) (232,910) (904,181) (229,954) (232,657) (3.7) % (4.5) % Other facility operating expense (111,540) (110,924) (113,824) (113,366) (449,654) (121,323) (121,910) (9.9) % (9.3) % Facility operating expense (329,905) (335,252) (342,402) (346,276) (1,353,835) (351,277) (354,567) (5.8) % (6.1) % Same Community Operating Income $ 146,164 $ 138,882 $ 136,749 $ 130,849 $ 552,644 $ 150,249 $ 145,187 4.5 % 3.6 % Same Community operating margin 30.7 % 29.3 % 28.5 % 27.4 % 29.0 % 30.0 % 29.1 % (20) bps (50) bps Total Average Units 28,686 28,687 28,689 28,689 28,688 28,686 28,687 — % — % RevPAR $ 5,532 $ 5,509 $ 5,567 $ 5,544 $ 5,538 $ 5,828 $ 5,807 5.4 % 5.4 % Weighted average occupancy 80.6 % 81.3 % 82.8 % 83.3 % 82.0 % 82.2 % 82.5 % 120 bps 150 bps RevPOR $ 6,866 $ 6,775 $ 6,720 $ 6,654 $ 6,752 $ 7,086 $ 7,042 3.9 % 3.6 % CCRCs Revenue $ 67,728 $ 67,081 $ 66,534 $ 67,072 $ 268,415 $ 70,384 $ 70,895 5.7 % 4.8 % Community Labor Expense (34,567) (34,662) (35,106) (34,692) (139,027) (35,204) (35,207) (1.6) % (1.7) % Other facility operating expense (17,765) (17,023) (17,243) (17,947) (69,978) (18,160) (18,109) (6.4) % (4.3) % Facility operating expense (52,332) (51,685) (52,349) (52,639) (209,005) (53,364) (53,316) (3.2) % (2.6) % Same Community Operating Income $ 15,396 $ 15,396 $ 14,185 $ 14,433 $ 59,410 $ 17,020 $ 17,579 14.2 % 12.4 % Same Community operating margin 22.7 % 23.0 % 21.3 % 21.5 % 22.1 % 24.2 % 24.8 % 180 bps 170 bps Total Average Units 3,610 3,610 3,610 3,610 3,610 3,610 3,610 — % — % RevPAR $ 6,254 $ 6,194 $ 6,143 $ 6,193 $ 6,196 $ 6,499 $ 6,546 5.7 % 4.8 % Weighted average occupancy 80.7 % 80.8 % 81.2 % 81.9 % 81.2 % 82.8 % 82.9 % 210 bps 210 bps RevPOR $ 7,745 $ 7,661 $ 7,562 $ 7,559 $ 7,631 $ 7,848 $ 7,895 3.1 % 2.2 % Senior Housing Segments: Same Community (1) (1) Same Community portfolio reflects 52 Independent Living communities, 450 Assisted Living and Memory Care communities, and 13 CCRCs.

10 2025 2026 2Q26 vs 2Q25 YTD 2Q26 vs YTD 2Q25 ($ in 000s, except RevPAR and RevPOR) 1Q 2Q 3Q 4Q Full Year 1Q 2Q B(W) B(W) Revenue $ 503,870 $ 503,611 $ 508,502 $ 506,615 $ 2,022,598 $ 525,127 $ 512,114 1.7 % 3.0 % Facility operating expense (368,894) (371,718) (379,016) (380,076) (1,499,704) (379,699) (371,653) — % (1.5) % Owned Portfolio Operating Income $ 134,976 $ 131,893 $ 129,486 $ 126,539 $ 522,894 $ 145,428 $ 140,461 6.5 % 7.1 % Owned Portfolio operating margin 26.8 % 26.2 % 25.5 % 25.0 % 25.9 % 27.7 % 27.4 % 120 bps 110 bps Additional Information Interest expense: debt $ (54,659) $ (57,648) $ (58,089) $ (57,144) $ (227,540) $ (55,670) $ (56,112) 2.7 % 0.5 % Community level capital expenditures, net (see page 13) $ (26,803) $ (32,810) $ (29,266) $ (36,220) $ (125,099) $ (30,992) $ (27,119) 17.3 % 2.5 % Number of communities (period end) 383 382 372 370 370 363 359 (6.0) % (6.0) % Total Average Units 33,768 33,764 33,635 33,440 33,651 33,080 32,364 (4.1) % (3.1) % RevPAR $ 4,962 $ 4,960 $ 5,027 $ 5,033 $ 4,995 $ 5,275 $ 5,250 5.8 % 6.1 % Weighted average occupancy 78.9 % 80.0 % 81.7 % 82.3 % 80.7 % 81.7 % 81.9 % 190 bps 240 bps RevPOR $ 6,288 $ 6,202 $ 6,156 $ 6,115 $ 6,189 $ 6,458 $ 6,410 3.4 % 3.0 % Senior Housing Owned Portfolio(1) Interest Coverage for the twelve months ended June 30, 2026 1.9x Net Debt as of June 30, 2026 (see page 15) $3,897,210 (1) In February 2025, the Company acquired 30 previously leased communities. The results of operations of the previously leased communities are included within the Senior Housing Owned Portfolio beginning with the full first quarter of 2025.

11 2025(2) 2026 2Q26 vs 2Q25 YTD 2Q26 vs YTD 2Q25 ($ in 000s, except RevPAR and RevPOR) 1Q 2Q 3Q 4Q Full Year 1Q 2Q B(W) B(W) Revenue $ 273,584 $ 272,003 $ 266,638 $ 207,889 $ 1,020,114 $ 197,329 $ 196,368 (27.8) % (27.8) % Facility operating expense (188,093) (190,599) (187,969) (149,651) (716,312) (131,771) (131,802) 30.8 % 30.4 % Leased Portfolio Operating Income $ 85,491 $ 81,404 $ 78,669 $ 58,238 $ 303,802 $ 65,558 $ 64,566 (20.7) % (22.0) % Leased Portfolio operating margin 31.2 % 29.9 % 29.5 % 28.0 % 29.8 % 33.2 % 32.9 % 300 bps 250 bps Additional Information Cash facility lease payments on leased portfolio (see page 14) $ (58,244) $ (58,987) $ (57,898) $ (44,932) $ (220,061) $ (45,929) $ (46,037) 22.0 % 21.6 % Community level capital expenditures, net (see page 13) $ (9,783) $ (6,822) $ (4,165) $ 1,534 $ (19,236) $ (9,072) $ (3,894) 42.9 % 21.9 % Number of communities (period end) 236 235 221 178 178 176 176 (25.1) % (25.1) % Total Average Units 17,072 17,048 16,377 12,086 15,646 10,557 10,456 (38.7) % (38.4) % RevPAR $ 5,342 $ 5,318 $ 5,427 $ 5,734 $ 5,433 $ 6,231 $ 6,260 17.7 % 17.2 % Weighted average occupancy 80.2 % 80.3 % 82.0 % 83.1 % 81.3 % 83.5 % 84.0 % 370 bps 350 bps RevPOR $ 6,664 $ 6,621 $ 6,615 $ 6,896 $ 6,686 $ 7,463 $ 7,455 12.6 % 12.3 % Lease Coverage for the six months ended June 30, 2026 1.18x Operating and financing lease obligations as of June 30, 2026 (see page 19) $ 1,165,263 Facility Lease Maturity Information (Leased Portfolio as of June 30, 2026) Initial Lease Maturities Community Count Total Units Lease Payments (3) 2026 — — $ — 2027 — — $ — 2028 1 116 $ 1,309 2029(4) 17 735 $ 5,151 2030 — — $ — Thereafter 158 9,605 $ 85,225 Total 176 10,456 $ 91,685 Senior Housing Leased Portfolio(1) (1) During the six months ended December 31, 2025, the Company completed terminations of leases on 57 communities (6,294 units). (2) In February 2025, the Company acquired 30 previously leased communities. The results of operations of the previously leased communities are excluded from the Senior Housing Leased Portfolio beginning with the full first quarter of 2025. (3) Cash facility lease payments for the six months ended June 30, 2026. (4) The Company entered into an agreement to acquire 17 leased communities (735 units) that have an initial lease maturity in 2029.

12 (1) G&A allocations are calculated based on the proportional amount of resident fee revenue (consolidated and under management) attributable to the segment or portfolio. G&A allocations presented herein exclude non-cash stock-based compensation expense and Transaction, Legal, and Organizational Restructuring Costs. (2) Not included in consolidated reported amounts. Consolidated, unless otherwise noted 2025 2026 2Q26 vs 2Q25 YTD 2Q26 vs YTD 2Q25 ($ in 000s) 1Q 2Q 3Q 4Q Full Year 1Q 2Q B(W) B(W) G&A expense allocations (1) Senior Housing Owned Portfolio allocation $ 25,599 $ 25,136 $ 26,415 $ 25,372 $ 102,522 $ 27,340 $ 27,628 (9.9) % (8.3) % Senior Housing Leased Portfolio allocation 13,899 13,576 13,851 10,411 51,737 10,273 10,594 22.0 % 24.1 % All Other allocation 2,723 2,659 2,838 2,639 10,859 2,993 674 74.7 % 31.9 % Subtotal G&A expense allocations 42,221 41,371 43,104 38,422 165,118 40,606 38,896 6.0 % 4.9 % Non-cash stock-based compensation expense 3,979 3,089 2,633 2,236 11,937 3,680 3,721 (20.5) % (4.7) % Transaction, Legal, and Organizational Restructuring Costs (see page 4) 1,674 10,513 5,129 770 18,086 771 4,515 57.1% 56.6% General and administrative expense $ 47,874 $ 54,973 $ 50,866 $ 41,428 $ 195,141 $ 45,057 $ 47,132 14.3 % 10.4 % 2025 2026 2Q26 vs 2Q25 YTD 2Q26 vs YTD 2Q25 1Q 2Q 3Q 4Q Full Year 1Q 2Q B(W) B(W) Resident fee revenue $ 777,454 $ 775,614 $ 775,140 $ 714,504 $ 3,042,712 $ 722,456 $ 708,482 (8.7) % (7.9) % Resident fee revenue under management (2) 53,560 53,264 54,635 52,701 214,160 57,522 12,500 (76.5) % (34.5) % Total (consolidated and under management) $ 831,014 $ 828,878 $ 829,775 $ 767,205 $ 3,256,872 $ 779,978 $ 720,982 (13.0) % (9.6) % G&A Expense as a Percentage of Resident Fee Revenue (Consolidated and Under Management) G&A expense (excluding non-cash stock-based compensation expense and Transaction, Legal, and Organizational Restructuring Costs) 5.1% 5.0% 5.2% 5.0% 5.1% 5.2% 5.4% (40) bps (30) bps G&A expense (including non-cash stock-based compensation expense and Transaction, Legal, and Organizational Restructuring Costs) 5.8% 6.6% 6.1% 5.4% 6.0% 5.8% 6.5% 10 bps 10 bps G&A Expense

13 Capital Expenditures (1) Amounts are presented net of lessor reimbursements. ($ in 000s, except for community level capital expenditures, per average unit) 2025 2026 2Q26 vs 2Q25 YTD 2Q26 vs YTD 2Q25 1Q 2Q 3Q 4Q Full Year 1Q 2Q B(W) B(W) Community level capital expenditures, including allocations (1) Senior Housing Owned Portfolio $ 26,803 $ 32,810 $ 29,266 $ 36,220 $ 125,099 $ 30,992 $ 27,119 17.3 % 2.5 % Senior Housing Leased Portfolio 9,783 6,822 4,165 (1,534) 19,236 9,072 3,894 42.9 % 21.9 % Community level capital expenditures, net (A) 36,586 39,632 33,431 34,686 144,335 40,064 31,013 21.7 % 6.7 % Corporate capital expenditures 4,541 9,182 5,010 7,632 26,365 8,316 6,945 24.4 % (11.2) % Non-Development Capital Expenditures, net (1) $ 41,127 $ 48,814 $ 38,441 $ 42,318 $ 170,700 $ 48,380 $ 37,958 22.2 % 4.0 % Property and casualty insurance proceeds (1,415) (2,072) (204) (184) (3,875) (140) (667) (67.8) % (76.9) % Non-Development capital expenditures, net of property and casualty insurance proceeds received (1) $ 39,712 $ 46,742 $ 38,237 $ 42,134 $ 166,825 $ 48,240 $ 37,291 20.2 % 1.1 % Capital Expenditures Reconciliation to Statements of Cash Flow Non-Development Capital Expenditures, net (1) $ 41,127 $ 48,814 $ 38,441 $ 42,318 $ 170,700 $ 48,380 $ 37,958 Lessor reimbursements: non-development capital expenditures 2,013 9,324 8,741 12,497 32,575 4,775 9,482 Change in related payables (1,332) (3,675) (5,594) 8,838 (1,763) (6,679) 983 Development Capital Expenditures, net 9 3 1 — 13 — — Total cash paid for capital expenditures $ 41,817 $ 54,466 $ 41,589 $ 63,653 $ 201,525 $ 46,476 $ 48,423 11.1 % 1.4 % Senior Housing Total Average Units (B) 50,840 50,812 50,012 45,526 49,297 43,637 42,820 (15.7) % (14.9) % Community level capital expenditures, net, per average unit (A/B) $ 720 $ 780 $ 668 $ 762 $ 2,928 $ 918 $ 724 7.2 % (9.6) %

14 (1) Includes cash lease payments for leases of community support centers and information technology systems and equipment. 2025 2026 2Q26 vs 2Q25 YTD 2Q26 vs YTD 2Q25 ($ in 000s) 1Q 2Q 3Q 4Q Full Year 1Q 2Q B(W) B(W) Operating Lease Obligations Facility operating lease expense $ 52,874 $ 52,653 $ 51,993 $ 42,743 $ 200,263 $ 43,981 $ 43,771 Operating lease expense adjustment 3,853 4,846 4,685 965 14,349 720 1,040 Cash facility operating lease payments 56,727 57,499 56,678 43,708 214,612 44,701 44,811 22.1 % 21.6 % Financing Lease Obligations Interest expense: financing lease obligations 5,600 1,750 1,764 1,683 10,797 1,700 1,891 Payment of financing lease obligations 289 297 304 305 1,195 296 302 Cash financing lease payments 5,889 2,047 2,068 1,988 11,992 1,996 2,193 (7.1) % 47.2 % Total cash facility lease payments (1) $ 62,616 $ 59,546 $ 58,746 $ 45,696 $ 226,604 $ 46,697 $ 47,004 21.1 % 23.3 % Interest Expense Reconciliation to Income Statement Interest expense: financing lease obligations $ 5,600 $ 1,750 $ 1,764 $ 1,683 $ 10,797 $ 1,700 $ 1,891 (8.1) % 51.1 % Interest income (3,648) (2,919) (3,020) (2,795) (12,382) (3,113) (4,081) 39.8 % 9.5 % Interest expense: debt 54,659 57,648 58,089 57,144 227,540 55,670 56,112 2.7 % 0.5 % Interest expense, net 56,611 56,479 56,833 56,032 225,955 54,257 53,922 4.5 % 4.3 % Amortization of deferred financing costs 3,630 3,712 3,747 3,686 14,775 3,483 3,005 Change in fair value of derivatives 1,142 (29) (26) 93 1,180 (1,301) (2,688) Interest income 3,648 2,919 3,020 2,795 12,382 3,113 4,081 Interest expense per income statement $ 65,031 $ 63,081 $ 63,574 $ 62,606 $ 254,292 $ 59,552 $ 58,320 7.5 % 8.0 % Cash Facility Lease Payments

15 (1) Amount excludes $45.3 million in deferred financing costs, net and the line of credit balance of $23.0 million. (2) Reflects rates as of June 30, 2026. (3) Fixed rate maturities are comprised of $23.3 million of 2.00% convertible senior notes ("2026 Notes"). (4) 2027 maturities as of June 30, 2026 were refinanced in July 2026. (5) Variable rate maturities include $376.2 million of mortgage debt with extension options to 2030. (6) Fixed rate maturities include $369.4 million of 3.50% convertible senior notes ("2029 Notes"). (7) Excludes convertible senior notes. (8) Includes the carrying amount of debt of which 89.4%, or $3.9 billion, represented non-recourse property-level mortgage financings. (9) Excludes operating lease obligations related to certain non-facility leases for which the related lease expense is included in Adjusted EBITDA. Important Note Regarding Non-GAAP Financial Measures. Adjusted EBITDA, Adjusted EBITDA after cash financing lease payments, Net Debt, and Adjusted Net Debt are financial measures that are not calculated in accordance with GAAP. See "Definitions" and "Non-GAAP Financial Measures" for the definitions of such measures and other important information regarding such measures, including reconciliations to the most comparable GAAP measures. $350 $352 $378 $369 $566 06/30/2025 09/30/2025 12/31/2025 03/31/2026 06/30/2026 Total Liquidity ($ in millions) Leverage Ratio ($ in 000s) Twelve Months Ended June 30, 2026 Cash facility operating lease payments (see page 14) $ (189,898) Adjusted EBITDA 469,744 Cash financing lease payments (see page 14) (8,245) Adjusted EBITDA after cash financing lease payments (A) $ 461,499 As of June 30, 2026 Debt (net of $45.3 million in deferred financing costs) (8) $ 4,272,618 Line of credit 23,000 Cash and cash equivalents (370,388) Marketable securities (19,904) Restricted cash held as collateral against existing debt (8,116) Net Debt (B) 3,897,210 Operating and financing lease obligations (see page 19) (9) 1,169,523 Adjusted Net Debt $ 5,066,733 Annualized Leverage (B/A) 8.4 x Debt Principal (1) ($ in millions) Fixed Rate Maturities Variable Rate Maturities Recurring Principal Payments Total Weighted Rate (2) 2026 (3) $ 23 $ — $ 33 $ 56 3.70 % 2027 (4) 237 — 46 283 4.52 % 2028 (5) 333 575 41 949 5.59 % 2029 (6) 714 78 35 827 4.30 % 2030 518 291 22 831 4.28 % Thereafter 1,298 23 51 1,372 5.88 % Total $ 3,123 $ 967 $ 228 $ 4,318 5.09 % Capital Structure Line of credit available to draw ($176 million as of June 30, 2026) Cash and cash equivalents and marketable securities ($390 million as of June 30, 2026) Variable rate debt with interest rate caps and swaps $1,001 Fixed rate convertible senior notes $393 68% 23% As of June 30, 2026 Weighted Rate Fixed rate debt (7) 4.99 % Variable rate debt 6.04 % 2026 Notes 2.00 % 2029 Notes 3.50 % Total debt 5.09 % 9% Fixed rate debt (7) $2,924

16 Adjusted EBITDA is a non-GAAP performance measure that the Company defines as net income (loss) excluding: benefit/provision for income taxes, non-operating income/ expense items, and depreciation and amortization; and further adjusted to exclude income/expense associated with non-cash, non-operational, transactional, legal, cost reduction, or organizational restructuring items that management does not consider as part of the Company’s underlying core operating performance and that management believes impact the comparability of performance between periods. For the periods presented herein, such other items include non-cash impairment charges, operating lease expense adjustment, non-cash stock-based compensation expense, gain/loss on sale of communities, gain/loss on facility operating lease termination, and Transaction, Legal, and Organizational Restructuring Costs. Adjusted Free Cash Flow is a non-GAAP liquidity measure that the Company defines as net cash provided by (used in) operating activities before: distributions from unconsolidated ventures from cumulative share of net earnings, changes in prepaid insurance premiums financed with notes payable, changes in operating lease assets and liabilities for lease termination, cash paid/received for gain/loss on facility operating lease termination, and lessor capital expenditure reimbursements under operating leases; plus: property and casualty insurance proceeds; less: Non- Development Capital Expenditures and payment of financing lease obligations. Adjusted Net Debt is a non-GAAP financial measure that the Company defines as Net Debt, plus operating and financing lease obligations. Operating and financing lease obligations exclude operating lease obligations related to certain non-facility leases for which the related lease expense is included in Adjusted EBITDA. Combined Segment Operating Income is defined by the Company as resident fee and management fee revenue of the Company, less facility operating expense. Combined Segment Operating Income does not include general and administrative expense or depreciation and amortization. Community Labor Expense is a component of facility operating expense that includes regular and overtime salaries and wages, bonuses, paid-time-off and holiday wages, payroll taxes, contract labor, employee benefits, and workers' compensation. Development Capital Expenditures means capital expenditures for community expansions, major community redevelopment and repositioning projects, and the development of new communities. Amounts of Development Capital Expenditures are presented net of lessor reimbursements. Interest Coverage is calculated based on the trailing-twelve months Owned Portfolio Operating Income adjusted for an implied 5% management fee and capital expenditures at $350/unit, divided by the trailing-twelve months debt interest expense. Lease Coverage is calculated based on the Leased Portfolio Operating Income, excluding resident fee revenue and facility operating expense of previously leased communities acquired and communities disposed during such period, adjusted for an implied 5% management fee and capital expenditures at an annualized rate of $350/ unit, divided by the cash facility lease payments for both operating leases and financing leases, excluding cash lease payments for leases of previously leased communities acquired and of communities disposed, community support centers, information technology systems and equipment, vehicles, and other equipment. Leased Portfolio Operating Income is defined by the Company as resident fee revenue less facility operating expense for the Company’s Senior Housing Leased Portfolio. Leased Portfolio Operating Income does not include general and administrative expense or depreciation and amortization. Net Debt is a non-GAAP financial measure that the Company defines as the total of its debt and the outstanding balance on the line of credit, less unrestricted cash, marketable securities, and cash held as collateral against existing debt. NM means not meaningful. Non-Development Capital Expenditures is comprised of corporate and community- level capital expenditures, including those related to maintenance, renovations, upgrades, and other major building infrastructure projects for the Company’s communities. Non-Development Capital Expenditures does not include capital expenditures for community expansions, major community redevelopment and repositioning projects, and the development of new communities (i.e. Development Capital Expenditures). Amounts of Non-Development Capital Expenditures are presented net of lessor reimbursements. Owned Portfolio Operating Income is defined by the Company as resident fee revenue less facility operating expense for the Company’s Senior Housing Owned Portfolio. Owned Portfolio Operating Income does not include general and administrative expense or depreciation and amortization. Definitions

17 RevPAR, or average monthly senior housing resident fee revenue per available unit, is defined by the Company as resident fee revenue for the corresponding portfolio for the period (excluding revenue for private duty services provided to seniors living outside of the Company's communities), divided by the weighted average number of available units in the corresponding portfolio for the period, divided by the number of months in the period. RevPOR, or average monthly senior housing resident fee revenue per occupied unit, is defined by the Company as resident fee revenue for the corresponding portfolio for the period (excluding revenue for private duty services provided to seniors living outside of the Company's communities), divided by the weighted average number of occupied units in the corresponding portfolio for the period, divided by the number of months in the period. Same Community information reflects operating results and data of a consistent population of communities by excluding the impact of changes in the composition of the Company's portfolio of communities. The operating results exclude natural disaster expense and related insurance recoveries. The Company defines its same community portfolio as communities consolidated and operational for the full period in both comparison years. Consolidated communities excluded from the same community portfolio include communities acquired or disposed of since the beginning of the prior year, communities classified as assets held for sale, certain communities planned for disposition including through asset sales or lease terminations, certain communities that have undergone or are undergoing expansion, redevelopment, and repositioning projects, and certain communities that have experienced a casualty event that significantly impacts their operations. Same Community Operating Income is defined by the Company as resident fee revenue less facility operating expense (excluding natural disaster expense and related insurance recoveries) for the Company's Same Community portfolio. Same Community Operating Income does not include general and administrative expense or depreciation and amortization. Segment Operating Income is defined by the Company as segment revenue less segment facility operating expense. Segment Operating Income does not include general and administrative expense or depreciation and amortization. All Other Segment Operating Income consists primarily of the previously reported Management Services segment and excludes revenue for reimbursements for which the Company is the primary obligor of costs incurred on behalf of managed communities, and there is no facility operating expense associated with the All Other category. See the Segment Information note to the Company’s consolidated financial statements for more information regarding the Company’s segments. Senior Housing Leased Portfolio represents Brookdale leased communities and does not include owned or managed communities. Senior Housing Operating Income is defined by the Company as segment revenue less segment facility operating expense for the Company’s Independent Living, Assisted Living and Memory Care, and CCRCs segments on an aggregate basis. Senior Housing Operating Income does not include general and administrative expense or depreciation and amortization. Senior Housing Owned Portfolio represents Brookdale owned communities and does not include leased or managed communities. Total Average Units represents the average number of units operated during the period. Transaction, Legal, and Organizational Restructuring Costs are general and administrative expenses. Transaction costs include those directly related to acquisition, disposition, financing, and leasing activity and stockholder relations advisory matters, and are primarily comprised of legal, finance, consulting, professional fees, and other third-party costs. Legal costs include charges associated with putative class action litigation. Organizational restructuring costs include those related to the Company’s efforts to reduce general and administrative expense and its senior leadership changes, including severance. Definitions

18 2025 2026 Twelve Months Ended June 30, 2026($ in 000s) 1Q 2Q 3Q 4Q Full Year 1Q 2Q YTD Net income (loss) $ (64,993) $ (43,039) $ (114,738) $ (39,976) $ (262,746) $ (6,904) $ 23,257 $ 16,353 $ (138,361) Provision (benefit) for income taxes (676) (271) 167 (1,171) (1,951) (429) 5,526 5,097 4,093 Loss (gain) on debt modification and extinguishment, net 35,220 115 326 4,426 40,087 2,786 2,934 5,720 10,472 Other non-operating (income) loss (1,358) (2,060) (144) (240) (3,802) (115) (708) (823) (1,207) Interest expense 65,031 63,081 63,574 62,606 254,292 59,552 58,320 117,872 244,052 Interest income (3,648) (2,919) (3,020) (2,795) (12,382) (3,113) (4,081) (7,194) (13,009) Income (loss) from operations 29,576 14,907 (53,835) 22,850 13,498 51,777 85,248 137,025 106,040 Depreciation and amortization 90,976 92,853 94,792 76,906 355,527 73,463 71,109 144,572 316,270 Asset impairment 1,787 577 62,696 6,289 71,349 6,115 3,900 10,015 79,000 Loss (gain) on sale of communities, net — (43) (139) (2,186) (2,368) (4,034) (45,391) (49,425) (51,750) Loss (gain) on facility operating lease termination, net — — 4,480 (341) 4,139 — — — 4,139 Operating lease expense adjustment (3,853) (4,846) (4,685) (965) (14,349) (720) (1,040) (1,760) (7,410) Non-cash stock-based compensation expense 3,979 3,089 2,633 2,236 11,937 3,680 3,721 7,401 12,270 Transaction, Legal, and Organizational Restructuring Costs 1,674 10,513 5,129 770 18,086 771 4,515 5,286 11,185 Adjusted EBITDA $ 124,139 $ 117,050 $ 111,071 $ 105,559 $ 457,819 $ 131,052 $ 122,062 $ 253,114 $ 469,744 Interest expense: financing lease obligations (5,600) (1,750) (1,764) (1,683) (10,797) (1,700) (1,891) (3,591) (7,038) Payment of financing lease obligations (289) (297) (304) (305) (1,195) (296) (302) (598) (1,207) Adjusted EBITDA after cash financing lease payments $ 118,250 $ 115,003 $ 109,003 $ 103,571 $ 445,827 $ 129,056 $ 119,869 $ 248,925 $ 461,499 Adjusted EBITDA and Adjusted EBITDA after Cash Financing Lease Payments Reconciliations Appendix: Non-GAAP Financial Measures This Supplemental Information contains the financial measures Adjusted EBITDA, Adjusted EBITDA after cash financing lease payments, Adjusted Free Cash Flow, Net Debt, and Adjusted Net Debt (each as defined in the "Definitions" section), which are not calculated in accordance with U.S. generally accepted accounting principles ("GAAP"). Presentations of these non- GAAP financial measures are intended to aid investors in better understanding the factors and trends affecting the Company’s performance and liquidity. However, investors should not consider these non-GAAP financial measures as a substitute for financial measures determined in accordance with GAAP, including net income (loss), income (loss) from operations, net cash provided by (used in) operating activities, short-term debt, long-term debt less current portion, or current portion of long-term debt. Investors are cautioned that amounts presented in accordance with the Company’s definitions of these non-GAAP financial measures may not be comparable to similar measures disclosed by other companies because not all companies calculate non-GAAP measures in the same manner. Investors are urged to review the reconciliations set forth in this Appendix of these non-GAAP financial measures from the most comparable financial measures determined in accordance with GAAP and to review the information under "Non-GAAP Financial Measure" in the Company’s earnings release dated August 10, 2026 for additional information regarding the Company’s use and the limitations of Adjusted EBITDA.

19 Net Debt and Adjusted Net Debt Reconciliations Appendix: Non-GAAP Financial Measures (continued) ($ in 000s) As of June 30, 2026 Long-term debt (including current portion) $ 4,272,618 Line of credit 23,000 Cash and cash equivalents (370,388) Marketable securities (19,904) Cash held as collateral against existing debt (8,116) Net Debt 3,897,210 Operating and financing lease obligations 1,195,267 Operating lease obligations related to certain non-facility leases for which the related lease expense is included in Adjusted EBITDA (25,744) Adjusted Net Debt $ 5,066,733 Operating and financing lease obligations $ 1,195,267 Operating lease obligations related to certain non-facility leases for which the related lease expense is included in Adjusted EBITDA (25,744) Adjusted operating and financing lease obligations 1,169,523 Operating and financing lease obligations related to community support centers and information technology leases (4,260) Operating and financing lease obligations for Leased Portfolio $ 1,165,263

20 2025 2026 ($ in 000s) 1Q 2Q 3Q 4Q Full Year 1Q 2Q YTD Net cash provided by operating activities $ 23,402 $ 83,564 $ 76,525 $ 34,539 $ 218,030 $ 20,887 $ 91,915 $ 112,802 Net cash provided by (used in) investing activities (326,755) (50,399) (34,195) (44,602) (455,951) (29,734) 37,600 7,866 Net cash provided by (used in) financing activities 239,669 (25,759) (34,565) 21,744 201,089 (508) (21,632) (22,140) Net increase (decrease) in cash, cash equivalents and restricted cash $ (63,684) $ 7,406 $ 7,765 $ 11,681 $ (36,832) $ (9,355) $ 107,883 $ 98,528 Net cash provided by operating activities $ 23,402 $ 83,564 $ 76,525 $ 34,539 $ 218,030 $ 20,887 $ 91,915 $ 112,802 Changes in prepaid insurance premiums financed with notes payable 22,392 (7,298) (7,484) (7,610) — 20,199 (6,636) 13,563 Changes in operating lease assets and liabilities for lessor capital expenditure reimbursements (2,013) (9,319) (8,706) (12,149) (32,187) (4,775) (9,481) (14,256) Changes in operating lease assets and liabilities for lease termination — — — 5,000 5,000 — — — Non-development capital expenditures, net (41,127) (48,814) (38,441) (42,318) (170,700) (48,380) (37,958) (86,338) Property and casualty insurance proceeds 1,415 2,072 204 184 3,875 140 667 807 Payment of financing lease obligations (289) (297) (304) (305) (1,195) (296) (302) (598) Adjusted Free Cash Flow $ 3,780 $ 19,908 $ 21,794 $ (22,659) $ 22,823 $ (12,225) $ 38,205 $ 25,980 The Company believes that presentation of Adjusted Free Cash Flow as a liquidity measure is useful to investors because (i) it is one of the metrics used by the Company’s management for budgeting and other planning purposes, to review the Company’s historic and prospective sources of operating liquidity, and to review the Company’s ability to service its outstanding indebtedness, pay dividends to stockholders, engage in share repurchases, and make capital expenditures, including development capital expenditures; and (ii) it provides an indicator to management to determine if adjustments to current spending decisions are needed. Adjusted Free Cash Flow has material limitations as a liquidity measure, including: (i) it does not represent cash available for dividends, share repurchases, or discretionary expenditures since certain non-discretionary expenditures, including mandatory debt principal payments, are not reflected in this measure; (ii) the cash portion of non- recurring charges related to gain/loss on facility lease termination generally represent charges/gains that may significantly affect the Company’s liquidity; and (iii) the impact of timing of cash expenditures, including the timing of non-development capital expenditures, limits the usefulness of the measure for short-term comparisons. Adjusted Free Cash Flow Reconciliation Appendix: Non-GAAP Financial Measures (continued) Brookdale Senior Living Inc. 105 Westwood Place Brentwood, TN 37027 (615) 221-2250 brookdale.com