All employees are expected to work 9 hours perAround 2008, Brookdale Senior Living Corporation acquired. During core hours, it is expected that most staff will be available. Monday through Friday inclusive (excluding holidays), with core operational hours being 8 a.m. Traxtudio Employee Handbook 07 The regular office hours for Traxtudio Holdings International are 8:00 a.m.

Factors which could have a material adverse effect on our operations and future prospects or which could cause events or circumstances to differ from the forward-looking statements include, but are not limited to, the risk associated with the current global economic situation and its impact upon capital markets and liquidity changes in governmental reimbursement programs our inability to extend (or refinance) debt (including our credit and letter of credit facilities and our outstanding convertible notes) as it matures the risk that we may not be able to satisfy the conditions precedent to exercising the extension options associated with certain of our debt agreements events which adversely affect the ability of seniors to afford our monthly resident fees or entrance fees the conditions of housing markets in certain geographic areas our ability to generate sufficient cash flow to cover required interest and long-term operating lease payments the effect of our indebtedness and long-term operating leases on our liquidity the risk of loss of property pursuant to our mortgage debt and long-term lease obligations the possibilities that changes in the capital markets, including changes in interest rates and/or credit spreads, or other factors could make financing more expensive or unavailable to us our determination from time to time to purchase any shares under the repurchase program our ability to fund any repurchases our ability to effectively manage our growth our ability to maintain consistent quality control delays in obtaining regulatory approvals the risk that we may not be able to expand, redevelop and reposition our communities in accordance with our plans our ability to complete acquisitions our ability to successfully integrate acquisitions, including our acquisition of Emeritus competition for the acquisition of assets our ability to obtain additional capital on terms acceptable to us a decrease in the overall demand for senior housing our vulnerability to economic downturns acts of nature in certain geographic areas terminations of our resident agreements and vacancies in the living spaces we lease early terminations or non-renewal of management agreements increased competition for skilled personnel increased union activity departure of our key officers increases in market interest rates environmental contamination at any of our communities failure to comply with existing environmental laws an adverse determination or resolution of complaints filed against us the cost and difficulty of complying with increasing and evolving regulation and the inability to obtain, or delays in obtaining, cost savings and synergies from the Emeritus acquisition as well as other risks detailed from time to time in our filings with the Securities and Exchange Commission, including those set forth under 'Item 1A. Although we believe that expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and actual results and performance could differ materially from those projected. Forward-looking statements are generally identifiable by use of forward-looking terminology such as 'may,' 'will,' 'should,' 'could,' 'would,' 'potential,' 'intend,' 'expect,' 'endeavor,' 'seek,' 'anticipate,' 'estimate,' 'overestimate,' 'underestimate,' 'believe,' 'project,' 'predict,' 'continue,' 'plan,' 'target' or other similar words or expressions. Those forward-looking statements are subject to various risks and uncertainties and include all statements that are not historical statements of fact and those regarding our intent, belief or expectations, including, but not limited to, statements relating to our operational, sales, marketing and branding initiatives and growth strategies and our expectations regarding their effect on our results our expectations regarding the economy, the senior living industry, occupancy, pricing, revenue, cash flow, operating income, expenses, capital expenditures, Program Max opportunities, the integration of Emeritus, cost savings and synergies, liquidity and leverage, senior housing supply, the demand for senior housing, the home resale market, expansion, development and construction activity, acquisition opportunities, asset dispositions, our share repurchase program, taxes, capital deployment, returns on invested capital and CFFO our expectations regarding returns to shareholders and our growth prospects our expectations concerning the future performance of recently acquired communities and the effects of acquisitions on our financial results our ability to secure financing or repay, replace or extend existing debt at or prior to maturity our ability to remain in compliance with all of our debt and lease agreements (including the financial covenants contained therein) our expectations regarding financings and refinancings of assets (including the timing thereof) and their effect on our results our expectations regarding changes in government reimbursement programs and their effect on our results our plans to generate growth organically through occupancy improvements, increases in annual rental rates and the achievement of operating efficiencies and cost savings our plans to expand our offering of ancillary services (therapy, home health, personalized health and hospice) our plans to expand, renovate, redevelop and reposition existing communities our plans to acquire additional communities, asset portfolios, operating companies and home health agencies the expected project costs for our expansion, redevelopment and repositioning program our expected levels of expenditures and reimbursements (and the timing thereof) our expectations for the performance of our entrance fee communities our ability to anticipate, manage and address industry trends and their effect on our business our expectations regarding the payment of dividends our ability to increase revenues, earnings, Adjusted EBITDA, Cash From Facility Operations, and/or Facility Operating Income (as such terms are defined in this Annual Report on Form 10-K) and our expectations regarding the integration of Emeritus.

We cannot guarantee future results, levels of activity, performance or achievements, and we expressly disclaim any obligation to release publicly any updates or revisions to any forward-looking statements contained in this Annual Report on Form 10-K to reflect any change in our expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.Bringing New Life to Senior LivingВ® brookdale.com Brookdale Investment Thesis SOURCES: (1) ESRI, Brookdale Proprietary Analysis (2) AlzheimerвЂ™s Association publication 2019 AlzheimerвЂ™s Disease Facts and Figures in publication seniors are defined as age 65 or older. Readers are cautioned not to place undue reliance on any of these forward-looking statements, which reflect our management's views as of the date of this Annual Report on Form 10-K. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements in such SEC filings.

The majority of our units are located in campus settings or communities containing multiple services, including CCRCs. We offer home health services to approximately 66,000 of our units and outpatient therapy services to approximately 64,000 of our units. As of December 31, 2015, we operated 130 retirement center communities with 24,486 units, 915 assisted living communities with 62,567 units and 78 CCRCs with 21,367 units. - Program discontinued effective Fall 2019As of December 31, 2015, we owned or leased 959 communities with 81,067 units and provided management services with respect to 164 communities with 27,353 units for third parties or unconsolidated ventures in which we have an ownership interest. Corrections Option, Criminal Justice, A.S. - Program to be discontinued Fall 2019 Computer Science, A.S.

The ability of residents to age-in-place is also beneficial to our residents and their families who are concerned with care decisions for their elderly relatives.The merger significantly increased our scale and provides us the opportunity to leverage this scale to build our national brand and provide greater organic growth, achieve greater operating efficiencies, and drive new innovations to serve our residents. By providing residents with a range of service options as their needs change, we provide greater continuity of care, enabling seniors to 'age-in-place' and thereby maintain residency with us for a longer period of time. Our strategy is to be the leading provider of senior living solutions, built on a large and growing senior housing platform.

Brookdale Employee Handbook 2019