First Quarter Results

本月早些时候，我们公布了2022年第一季度(Q1)的业绩。尽管大流行的限制措施和不断变化的公共卫生指示影响了我们的入住率恢复水平，但随着全国各地限制措施的放松以及我们进一步进入春季租赁季节，我们预计在未来几个月将看到强劲的复苏。

Some key takeaways include:

• Occupancy recovery is forecasted to resume in May and June 2022
• Executing on our portfolio optimization strategy with the acquisition of three new retirement residences and agreements to transition Ontario Long Term Care operations
• In Q1 2022, net loss was $3.3 million compared to $4.9 million in Q1 2021 primarily due to higher net income from discontinued operations offset by higher pandemic related expenses and lower retirement occupancy.

此外，我们认为，由于人口老龄化、疫情期间社区老年人支持服务中断以及长期护理床位持续短缺，对退休住宿和服务的需求受到压抑。

Canada’s rapid aging population also presents a robust opportunity for Chartwell to grow our retirement portfolio, and we have a competitive advantage because of you, our employees. I am optimistic and motivated by your courage and commitment to making the lives of our residents better each day. To learn more about our Q1 results you can watch my interview withBNN Bloomberg.

Annual General Meeting

Last week, we held our virtual Annual General Meeting and released our2021 Annual Report. The report highlights the impact of the global pandemic on our organization and sector over the last two years, and our primary focus on protecting the health and wellbeing of our residents, their families and our employees. It has also been a time for us to establish important building blocks for our post-pandemic recovery and future growth. These new operational, marketing, sales, and technology solutions and processes will undoubtedly serve us well for many years to come.

I am incredibly proud of all our achievements and grateful to the extraordinary people working in our residences, our corporate support staff and our leadership team.

Our Environmental, Social and Governance (ESG) report was also featured in our Annual Report. As a leader in the retirement living sector in Canada, we see it as our duty to continuously evolve and enhance our contribution to society, our corporate governance and management of our environmental impact.

我们为我们在这些领域取得的成就感到自豪，我们知道我们还有更多的工作要做。I invite you to read our2022 ESG report, where in addition to statistics and key performance indicators you will find heartwarming and inspirational stories of our residents and employees.

A Worthy Read

“Life’s Edge – A search of what it means to be alive”by Carl Zimmer.
An investigation of one of the biggest questions of all: What is life? The answer seems obvious until you try to seriously answer it. Is the apple sitting on your kitchen counter alive, or is only the apple tree it came from deserving of the word? If we can’t answer that question here on earth, how will we know when and if we discover alien life on other worlds? The question hangs over some of society’s most charged conflicts—whether a fertilized egg is a living person, for example, and when we ought to declare a person legally dead. Zimmer journeys through the strange experiments that have attempted to re-create life. Literally hundreds of definitions of what that should look like now exist, but none has yet emerged as an obvious winner. Lists of what living things have in common do not add up to a theory of life. It's never clear why some items on the list are essential and others not. Coronaviruses have altered the course of history, and yet many scientists maintain they are not alive. Chemists are creating droplets that can swarm, sense their environment, and multiply. Have they made life in the lab?

Vlad Volodarski,
Chief Executive Officer