Summerset Bond Offer – Offer Close & Interest Rate Set

NZX & ASX RELEASE 11 September 2020 SUMMERSET BOND OFFER - OFFER CLOSE & INTEREST RATE SET Summerset Group Holdings Limited (Summerset) today announced that, following a successful book-build, the issue size of its seven year fixed rate bond offer has been set at NZ$150 million. This includes oversubscriptions of NZ$50 million, being an oversubscription of 50%. All of the bonds have been allocated to intermediaries for distribution to their clients and there will be no public pool available. Summerset Chairman Rob Campbell said he was very pleased with the strong support for Summerset's transaction and that Summerset has been able to provide New Zealand investors with further retail bond exposure to the retirement village and aged care sector. The issue margin for the bonds has been set at 2.00% per annum and the interest rate for the bonds for the seven year period has been set at 2.30% per annum, being the minimum interest rate for the bonds. The bonds will be issued on 21 September 2020 and will mature on 21 September 2027. The bonds are expected to be quoted on the NZX Debt Market under the ticker code SUM030. The full details of the offer are contained in the Final Terms Sheet which is attached. Joint Lead Managers ANZ 0800 269 476 Craigs Investment Partners 0800 226 263 Forsyth Barr 0800 367 227 Jarden 0800 005 678 Co-Manager Hobson Wealth Partners 0800 742 737 ENDS For investor relations enquiries: Scott Scoullar CFO and 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:00359636 For:SUM Type:OFFER Time:2020-09-11 14:31:50