1Q20 Metrics – Sales of Occupation Rights

NZX & ASX RELEASE 9 April 2020 1Q20 METRICS - SALES OF OCCUPATION RIGHTS Summerset Group reports 141 sales for the quarter ending 31 March 2020, comprising 70 new sales and 71 resales. Summerset CEO Julian Cook said, "We have maintained our sales for the first quarter at normal levels and have a good pipeline of sales. It is still too early to tell the impact of COVID-19 on our next quarter." Summerset's first quarter included one week of the Level 4 Alert lockdown period. "Our first quarter was buoyed by good pre-sales at Kenepuru (Wellington) and 40% of available units were sold at our new Te Awa village (Napier) in the first week of release," Mr Cook said. Mr Cook added the company was pleased with the contracted stock pipeline. As of 31 March, Summerset has a further 98 new sales contracts in place (20 more than at 31 December 2019) and 73 resales contracts in place (19 more than at 31 December 2019). As noted previously, Summerset continues to ensure it has strong financial management disciplines in place with close to $400m of unutilised funding capacity available. For more details on Summerset's COVID-19 response please visit the website summerset.co.nz/about-us/covid-19/ YTD20 SALES OF OCCUPATION RIGHTS See attached table. FY19 SALES OF OCCUPATION RIGHTS See attached table. ENDS For investor relations enquiries: Scott Scoullar Chief Financial Officer & Deputy CEO scott.scoullar@summerset.co.nz 029 894 7317 For media enquiries: Jenny Bridgen Communications Manager jenny.bridgen@summerset.co.nz 021 408 215 End CA:00351509 For:SUM Type:MKTUPDTE Time:2020-04-09 08:31:15