LCS continues to build a high performance organization. Fulfilling a vision for our seniors

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1 LCS continues to build a high performance organization Fulfilling a vision for our seniors

2 A growing and evolving senior living company.

3 To Our Valued Partners: It is with much enthusiasm I share with you exciting announcements about LCS as we close a successful 2016 and embark on a new year. Energized by its passion for performance, learning and teamwork, LCS is fueling its real estate strategy with increased emphasis on community performance and expanding its leadership base. Its growing real estate platform showcases the company s rapid evolution as a leading provider of high-quality senior lifestyle products and services, and drives its vision for the future. While LCS grows and evolves, we remain steadfast to the principles that have guided us through our more than 40-year history. Our core principles are the promises we make to our residents, our partners, our employees, and ourselves. They guide our actions and define our direction. And they deepen our passion for serving seniors. The depth of our commitment, integrity of our word and the standards we set for ourselves are on display throughout the LCS Family of Companies. At LCS, we believe that when we work together, we re all greater. We appreciate the opportunity to work with you. Joel Nelson, President and COO

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5 Energized by its passion for performance, learning and teamwork, LCS is fueling its real estate strategy with increased emphasis on community performance and expanding its leadership base. Joel Nelson, President and COO

6 REAL ESTATE OWNERSHIP As LCS grows its real estate ownership, it will drive performance excellence to ensure long-term viability of its investments, which will ultimately result in our successful monetization efforts. Industry and LCS veteran Judi Buxo will focus on owned community assets that are key to reaching this goal. Capitalizing on Judi s talents, she is promoted to senior vice president, director of special assets. Judi built an impressive track record of providing sound operational leadership, building collaborative teams by assessing the opportunities, and applying LCS best practices to better serve our owners, all while achieving optimized hospitality services and strong resident engagement. Positioning and driving performance excellence enhances enterprise value. Working alongside my team, we will collaboratively support the post-acute care strategy; oversee the implementation of standardized practices; and focus on the operational complexities of owned community assets. Judi Buxo Senior Vice President, Director of Special Assets

7 Allison Pendroy is promoted to senior vice president/ director of for-profit communities. In her new role, Allison will continue providing strategic oversight and direction to the Asset Management team and will assume operational business line responsibility for the for-profit Life Plan Community portfolio. In addition to her Asset Management team, she will collaborate with the veteran leadership team of Scott Doherty, Roberta McMenamin and Warren Naviasky to continue providing best-in-class operating services for the LCS for-profit communities. This new role utilizes my 17 years of commercial real estate, investments and finance experience. I look forward to collaborating with our partners and investors, as well as leading and directing the overall performance of for-profit communities and strategic asset direction for all LCS investments. Allison Pendroy Senior Vice President, Director of For-Profit Communities

8 REAL ESTATE RENTAL Aligned focus will optimize our rental platform to deliver performance excellence across the Rental Division. Peter Muhlbach Senior Vice President, Director of Senior Living Management, Rental Division Given the tremendous growth of the LCS Rental portfolio, it is important we closely align our teams to leverage the in-house synergies of LCS real estate investments, marketing and sales, operations, and clinical teams. Community performance will ensure the continued growth and long-term success of the LCS Rental Division. Community performance is a key driver of success, so it is imperative we have strong talent at the top of the Rental leadership team. Liz Bush has accepted a new position, senior vice president, community performance. Liz brings more than 34 years of marketing and sales experience within LCS to her new role, in which she will oversee the marketing and sales,

9 Clarendale of Mokena, Mokena, IL training, life enrichment and clinical teams along with providing oversight that aligns closely to Rental Division performance. Building synergy between marketing and sales, operations and clinical is an exciting opportunity. I look forward to overseeing strategy and working with the rental team to impact community performance. Liz Bush Senior Vice President, Community Performance

10 Liz will team up directly with Jason Kohler, who is promoted to vice president, senior director of operations management, to drive brand integration, strategic initiatives, and performance excellence. Jason s strong operations background, along with his marketing and sales savvy, positions him to be the right leader of the operations team. My operational experience within the field of senior living provides me with the hands-on experience to execute delivery of key performance outcomes and implement LCS best practices. Jason Kohler Vice President, Senior Director of Operations Management

11 Susan Altman joins the Rental Division team to complete the LCS strategy. She will lead the Rental Division clinical team as the director of quality innovation. Susan s invaluable 27 years of experience provides the LCS Rental Division a resource to implement the company s post-acute strategy. Susan also assumes leadership of the Rental Division s nurse managers, and Health and Wellness Navigator program. I look forward to working with Peter, Liz and Jason to integrate strong clinical protocols at the communities. Our team is ready to focus on post-acute strategies, cost containment, new CMS initiatives and evidence-based quality outcomes. Susan Altman Director of Quality Innovation

12 Together, we re greater. Capital Square 400 Locust Street, Suite 820 Des Moines, Iowa Phone: Fax: Website: LCSnet.com LCS