Bond Offer – Interest Rate Set & Oversubscription Upsize

NZX & ASX RELEASE 14 SEPTEMBER 2018 SUMMERSET BOND OFFER - INTEREST RATE SET & OVERSUBSCRIPTION UPSIZE Summerset Group Holdings Limited (Summerset) today announced that, following the successful book-build for its offer of seven year fixed rate bonds, and having consulted with the Joint Lead Managers, it has decided to increase the level of oversubscriptions to NZ$50 million (from NZ$25 million). NZ$125 million of bonds have been allocated to New Zealand institutional and retail investors who participated in the book-build process. This includes oversubscriptions of NZ$50 million, being an oversubscription of 66.7%. Summerset Chairman Rob Campbell said he was pleased with the strong support for Summerset's transaction and that Summerset has been able to provide New Zealand investors with retail bond exposure to the retirement village and aged care sector. The margin for the bonds has been set at 1.65% per annum and the interest rate has been set at 4.20% per annum. All of the bonds have been allocated to intermediaries for distribution to their clients and there will be no public pool available. The bonds will be issued on 24 September 2018 and will mature on 24 September 2025. The bonds are expected to be quoted on the NZX Debt Market under the ticker code SUM020. The full details of the offer are contained in the final Terms Sheet which is attached. For further information please contact: Joint Lead Managers: ANZ 0800 269 476 FNZC 0800 005 678 Forsyth Barr 0800 367 227 Hobson Wealth Partners 0800 742 737 ENDS For investor relations enquiries: Scott Scoullar Deputy CEO and CFO scott.scoullar@summerset.co.nz 04 894 7320 or 029 894 7317 For media enquiries: Jenny Bridgen Senior Communications Advisor jenny.bridgen@summerset.co.nz 04 830 1106 or 021 408 215 End CA:00323909 For:SUM Type:OFFER Time:2018-09-14 16:01:07