Pennant to transfer operations of five senior living communities to Ensign, expects accretion

Pennant Group, Inc.

Transfer of 5 senior living communities in WA, AZ, CA to Ensign affiliates; closes H1 2022 subject to approvals.
$6.5M escrowed by a transferor for post-closing capex and operating losses on one community.
Pennant also signs LOI to lease a Class A senior living community in a key market, starting Q2 2022.
Post-closing, Pennant will operate 50 senior living communities across six states.
Company expects transaction to be accretive to earnings; will update 2022 guidance with Q4 2021 results.

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