4Q16 Metrics – Sales of Occupation Rights

NZX & ASX RELEASE 9 JANUARY 2017 4Q16 METRICS - SALES OF OCCUPATION RIGHTS Summerset Group achieved 156 sales for the quarter ending 31 December 2016, comprising 106 new sales and 50 resales. This brings the full year sales result for 2016 to 658 occupation right sales, up 14% on the prior year. Summerset CEO Julian Cook said total sales for the year were the highest ever achieved across the group. "New sales for 2016 were 24% higher than the prior year which is a very pleasing result. This reflects the uplift in build rate from 300 retirement units in 2015 to just over 400 retirement units in 2016. "We continue to see strong demand across our villages for both new sale and resale stock. A key driver of our strong results for the year is the current continuing development across ten villages," said Mr Cook. Resale stock continues to be low, with only 29 unsold resale stock at 31 December 2016. FY16 SALES OF OCCUPATION RIGHTS See attached table FY15 SALES OF OCCUPATION RIGHTS See attached table NOTES: o Quarterly metrics on occupation right sales are provided by the 10th of the month following the end of each quarter. o The quarterly sales metrics provided may not necessarily reflect NZ IFRS financial performance for the corresponding period. In particular, key items in the income statement, such as the fair value movement of investment property, are dependent on several variables, of which one is occupation right sales. NZ IFRS financial performance is calculated for the periods ending 30 June and 31 December each year. ENDS For investor relations enquiries: Scott Scoullar Chief Financial Officer scott.scoullar@summerset.co.nz 04 894 7320 or 029 894 7317 For media enquiries: Michelle Brooker Senior Communications Advisor michelle.brooker@summerset.co.nz 04 830 1106 or 021 225 9624 End CA:00295299 For:SUM Type:QUARTER Time:2017-01-09 08:40:42