2Q20 Metrics – Sales of Occupation Rights

NZX & ASX RELEASE 9 July 2020 2Q20 METRICS - SALES OF OCCUPATION RIGHTS Summerset Group reports 123 sales for the quarter ending 30 June 2020, comprising 58 new sales and 65 resales. The quarter included four weeks of COVID-19 level four lockdown with prospective residents unable to visit our villages and property settlements suspended. To ensure the safety of residents, visitor restrictions were also in place throughout levels three and two. Summerset CEO Julian Cook said, "Through the level four lockdown period sales and settlements of occupation rights largely ceased. This had a significant impact on the business." "However, sales and settlements have largely recovered and we are seeing sales enquiry and sales rates marginally stronger than is typical for this time of year," said Mr Cook. Total new sales stock levels have remained at a normal level relative to 31 December 2019. Resale stock numbers were slightly higher due to delays with refurbishments and people moving out under alert levels 4 and 3; however, numbers are expected to reduce over the next six months. Immediately prior to the lockdown Summerset's Casebrook village main building in Christchurch opened. Currently more than 50% of its serviced apartments and memory care apartments have sold. There have also been strong pre-sales for Summerset's newest village in Bell Block, New Plymouth. There have not been any cases of COVID-19 across Summerset village residents or staff to date. 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:00355980 For:SUM Type:MKTUPDTE Time:2020-07-09 08:57:08