2Q18 Metrics – Sales of Occupation Rights

NZX & ASX RELEASE 10 JULY 2018 2Q18 METRICS - SALES OF OCCUPATION RIGHTS Summerset Group achieved 156 sales for the quarter ending 30 June 2018, comprising 77 new sales and 79 resales. Summerset CEO Julian Cook said that while new sales volumes are lower for the first half of 2018 than the same period of 2017, the company is seeing high levels of sales contracts and presales on homes which will be completed and delivered over the remainder of the year. "Resales also remain strong across all villages and are at levels consistent with 2017, with no sign of impacts from any changing property market conditions", said Mr Cook. YTD18 SALES OF OCCUPATION RIGHTS See attached table FY17 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 Occupation right sales volumes represent the number of occupation rights settled in the period, and differ from retirement unit deliveries which represents the number of new homes for which construction was completed in the period. 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:00320622 For:SUM Type:MKTUPDTE Time:2018-07-10 08:31:03