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SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
  FORM 40-F
 o REGISTRATION STATEMENT PURSUANT TO SECTION 12 OF THE
SECURITIES EXCHANGE ACT OF 1934 þ ANNUAL REPORT PURSUANT TO SECTION 13(a) OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2004
    
    Commission File Number 1-14372
  EXTENDICARE INC.
 (Exact name of Registrant as specified in this charter)
 Canada
    
    8051
    
    Not Applicable(Province or other Jurisdiction
of Incorporation or Organization)
    
    (Primary Standard Industrial
Classification Code Number)
    
    (I.R.S. Employer
Identification No.)
 3000 Steeles Avenue East
Markham, Ontario, Canada
L3R 9W2
(905) 470-4000(Address and telephone number of Registrants principal executive offices) Extendicare Health Services, Inc.
111 West Michigan Street
Milwaukee, Wisconsin, U.S.A. 53203-2903
(414) 908-8000(Name, address (including zip code) and telephone number
(including area code) of agent for service in the United States)   Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of each class
    
    Name of each exchange on which registeredSubordinate Voting Shares, no par value
    
    New York Stock Exchange
The Toronto Stock Exchange
 Securities registered or to be registered pursuant to Section 12(g) of the Act: None Securities of which there is a reporting obligation pursuant to Section 15(d) of the Act: None For annual reports, indicated by check mark the information filed with this Form: þ Annual information form          þAudited annual financial statements Indicate the number of outstanding shares of each of the issuers class of capital or common stock
as of the close of the period covered by the annual report. The Registrant had 56,687,086 Subordinate Voting Shares
outstanding as at December 31, 2004 Indicate by check mark whether the Registrant by filing the information contained in this Form is
also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934 (the Exchange Act). If Yes is marked, indicate the file number assigned to the Registrant in connection with such
Rule. Yes o          82-_____                    No þ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by
Section 13(a) or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter
period that the Registrant was required to file such reports) and (2) has been subject to such
filing requirements for the past 90 days. Yes þ                    No o




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PRIOR FILINGS MODIFIED AND SUPERSEDED Extendicare Inc.s annual report on Form 40-F for the year ended December 31, 2004, at the time
of filing with the U.S. Securities and Exchange Commission (the SEC or Commission), modifies
and supersedes all prior documents filed pursuant to Sections 13, 14 or 15(d) of the Exchange Act
for purposes of any offers or sales of any securities after the date of such filing pursuant to any
registration statement or prospectus filed pursuant to the Securities Act of 1933 which
incorporates by reference such annual report on Form 40-F. Other than Extendicare Inc.s
Annual Information Form for the year ended December 31, 2004 (the AIF) included herein, and
Extendicare Inc.s annual audited consolidated financial statements for the year ended December 31,
2004 and related managements discussion and analysis of financial condition and results of
operations, incorporated by reference herein, no other information from the Exhibits attached
hereto is to be incorporated by reference in a registration statement or prospectus filed pursuant
to the Securities Act of 1933. ANNUAL AUDITED CONSOLIDATED FINANCIAL STATEMENTS AND MANAGEMENTS DISCUSSION AND ANALYSIS For Extendicare Inc.s annual audited consolidated financial statements for the year ended
December 31, 2004 (the Financial Statements), including managements responsibility for financial
statements and the auditors report with respect thereto, see pages 47 to 85 of the Extendicare
Inc. 2004 Annual Report to shareholders attached hereto as Exhibit 99.1, which pages are
incorporated herein by reference. In addition, see Note 21 of the Notes to the Financial Statements
on pages 82 to 84 of the Extendicare Inc. 2004 Annual Report to shareholders, reconciling the
significant differences between Canadian and United States generally accepted accounting principles. For Extendicare Inc.s managements discussion and analysis of financial condition and results of
operations, see pages 8 to 45 of the Extendicare Inc. 2004 Annual Report to shareholders attached
hereto as Exhibit 99.1, which pages are incorporated herein by reference. CONTROLS OR PROCEDURES Evaluation of Disclosure Control and Procedures Extendicare Inc.s management evaluated, with the participation of its Chief Executive Officer and
the Senior Vice President and Chief Financial Officer, the effectiveness of the design and
operation of its disclosure controls and procedures (as defined in Rules 13a  15(e) and 15d-15(e)
under the Securities and Exchange Act of 1934) as of the end of 2004. Based upon their evaluation
of these disclosure controls and procedures, the Chief Executive Officer and the Senior
Vice-President and Chief Financial Officer concluded that the disclosure controls and procedures
were effective as of the end of 2004 to ensure that material information relating to Extendicare
Inc. (including its consolidated subsidiaries) was made known to them by others within those
entities, particularly during the period in which this annual report on Form 40-F was being
prepared. Changes in Internal Controls There were no changes in Extendicare Inc.s internal control over financial reporting that occurred
during the period covered by this annual report that have materially affected, or are reasonably
likely to materially affect, Extendicare Inc.s internal control over financial reporting. AUDIT COMMITTEE FINANCIAL EXPERT All of the members of Extendicare Inc.s audit committee are financially literate, and one or
more members of the audit committee meet the definition of a financial expert. Extendicare Inc.s
Board of Directors has determined that Mr. G. S. Dembroski qualifies as an audit committee
financial expert and that Mr. Dembroski is independent, as that term is defined by the New York
Stock Exchanges listing standards applicable to Extendicare Inc. The SEC has indicated that the designation of a person as an audit committee financial expert does
not impose on such person any duties, obligations or liability that are greater than the duties,
obligations and liability imposed on such person as a member of the audit committee and board of
directors in the absence of such designation.




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Information on Extendicare Inc.s Audit Committee is set forth in its Management Information and
Proxy Circular (dated March 4, 2005) and is included in the Form 6-K filed with the Securities and
Exchange Commission on March 29, 2005. CODE OF ETHICS Extendicare Inc. has adopted a Business Conduct Policy. These guidelines have been in place
for many years and apply to all directors, officers and employees of Extendicare Inc. and its
subsidiaries. The Business Conduct Policy is available on Extendicare Inc.s website at
www.extendicare.com, in the Governance section, and is available in print to any shareholder upon
written request to the Corporate Secretary of Extendicare Inc. Amendments to the Business Conduct
Policy and waivers, if any, for directors and executive officers will be disclosed on Extendicare
Inc.s website. There were no such waivers granted in fiscal 2004. PRINCIPAL ACCOUNTANT FEES AND SERVICES Information on Extendicare Inc.s external auditors fees and services is set forth in its
Management Information and Proxy Circular (dated March 4, 2005) under the heading Audit Committee
Information (page 14) as included in the Form 6-K filed with the Securities and Exchange
Commission on March 29, 2005, and as presented herein. Fees payable to Extendicare Inc.s independent external auditor, KPMG llp, are detailed in
the following table: Fee category
    
    Year Ended 2004 (C$)
    
    
    Year Ended 2003 (C$)Audit
    
    
    1,101,000
    
    
    
    1,024,000Audit related
    
    
    31,000
    
    
    
    40,000Tax planning
    
    
    55,000
    
    
    
    2,000All other fees
    
    
    35,000
    
    
    
    59,000Total
    
    
    1,222,000
    
    
    
    1,125,000
 The nature of the services provided by KPMG llp under each of the categories indicated in
the table is described below. Audit Fees
Audit fees were for professional services rendered by KPMG llp for the audit of
Extendicare Inc.s annual financial statements and the review of its quarterly financial
statements, including separate audits and reviews of its wholly owned subsidiaries, Extendicare
Health Services, Inc. (EHSI) and Extendicare (Canada) Inc. (ECI). In addition, services were
provided in respect of other regulatory-required auditor attest functions associated with
government audit reports for the nursing homes and home health care operations, registration
statements, prospectuses, periodic reports and other documents filed with securities regulatory
bodies or other documents issued in connection with securities offerings. Audit-related Fees
Audit-related fees were for assurance and related services reasonably related to the performance of
the audit or review of the annual statements. These services consisted of employee benefit plan and
money purchase plan audits. Tax Planning Fees
Tax fees were for services outside of the audit scope and represented consultations for tax
planning and advisory services relating to common forms of domestic and international taxation as
well as assistance with various tax audit matters. All Other Fees
Fees disclosed in the table above under the item All other fees were paid for products and
services other than the audit fees, audit-related fees and tax fees described above. These
primarily related to state real estate assessments.




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Pre-approval Policies and Procedures
Extendicare Inc.s Audit Committee has adopted policies and procedures for the pre-approval of
services performed by its external auditors, with the objective of maintaining the independence of
the external auditors. Extendicare Inc.s policy requires that the Audit Committee pre-approve all
audit, audit-related, tax and other permissible non-audit services to be performed by the external
auditors, including all engagements of the external auditors with respect to Extendicare Inc.s
subsidiaries. Extendicare Inc.s policy sets out the details of the permissible non-audit services
consistent with the independence requirements of the United States Sarbanes-Oxley Act of 2002 and
the Canadian independence standards for auditors. The Chief Financial Officer presents the details
of any proposed assignments of the external auditor for consideration by the Audit Committee. The
procedures do not include delegation of the Audit Committees responsibilities to management of
Extendicare Inc. OFF-BALANCE SHEET ARRANGEMENTS For a discussion of off-balance sheet arrangements, see the section entitled Off-Balance
Sheet Arrangements of Extendicare Inc.s managements discussion and analysis of financial
condition and results of operations (which is incorporated by reference in Extendicare Inc.s AIF),
contained in its 2004 Annual Report to shareholders attached hereto as Exhibit 99.1. TABULAR DISCLOSURE OF CONTRACTUAL OBLIGATIONS For a tabular disclosure and discussion of contractual obligations, see the section entitled
Future Liquidity and Capital Resources of Extendicare Inc.s managements discussion and analysis
of financial condition and results of operations (which is incorporated by reference in Extendicare
Inc.s AIF), contained in its 2004 Annual Report to shareholders attached hereto as Exhibit 99.1. IDENTIFICATION OF AUDIT COMMITTEE Extendicare Inc.s audit committee is composed of the following directors: J. Thomas
MacQuarrie, Q.C. (Chairman), David M. Dunlap, George A. Fierheller, Derek H.L. Buntain, George S.
Dembroski and Alvin G. Libin. Information on the Companys Audit Committee is set forth in the
Companys Management Information and Proxy Circular (dated
March 4, 2005) under the headings Audit
Committee Information and Report of the Audit Committee (pages 14 to 16), and is included in the
Form 6-K filed with the Securities and Exchange Commission on March 29, 2005. UNDERTAKING Extendicare Inc. undertakes to make available, in person or by telephone, representatives to
respond to inquiries made by the Commission staff, and to furnish promptly, when requested to do so
by the Commission staff, information relating to: the securities in relation to which the
obligation to file an annual report on Form 40-F arises; or transactions in said securities. STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Information provided by Extendicare Inc. from time to time, including the documents filed as
part of this annual report on Form 40-F, contains or may contain forward-looking statements
concerning its operations, economic performance and financial matters, including its business
strategy. Actual results or events could differ materially from those set forth in, or implied by,
the forward-looking statements and the related assumptions due to a variety of factors. Reference
is made to the section entitled Cautionary Notice Regarding Forward-looking Statements on page 1
of the AIF and to the section entitled Risks Factors on pages 31 to 32 of the AIF for a
discussion of certain of such factors. Reference is also made to the various risk factors discussed
throughout Extendicare Inc.s managements discussion and analysis of financial condition and
results of operations (which is incorporated by reference in Extendicare Inc.s AIF), contained in
Extendicare Inc.s 2004 Annual Report to shareholders attached hereto as Exhibit 99.1.




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EXHIBIT INDEX The following exhibits are filed as part of this report: ExhibitNumber
    
    Description of Exhibit99.1
    
    
    Annual Information Form for Extendicare Inc. dated March 23, 200599.2
    
    
    Extendicare Inc. 2004 Annual Report99.3
    
    
    Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 200299.4
    
    
    Certificate pursuant to Section 906 of the Sarbanes-Oxley Act of 200299.5
    
    
    Consent of Independent Registered Public Accounting Firm99.6
    
    
    Comments by Shareholders Auditors for U.S. Readers on Canada  U.S. Reporting Differences99.7
    
    
    Schedule II  Valuation and Qualifying Accounts




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SIGNATURE Pursuant to the requirements of the Exchange Act, the Registrant certifies that it meets all
of the requirements for filing on Form 40-F and has duly caused this annual report to be signed on
its behalf by the undersigned, thereto duly authorized. EXTENDICARE INC.Date: March 28, 2005
    By:
    /s/ Richard L. BertrandRichard L. BertrandSenior Vice-President and
Chief Financial Officer