2Q21 Metrics – Sales of Occupation Rights

NZX & ASX RELEASE 12 July 2021 2Q21 METRICS - SALES OF OCCUPATION RIGHTS Summerset Group reports 270 sales for the quarter ending 30 June 2021, comprising 154 new sales and 116 resales. Summerset CEO Scott Scoullar said it was a record Q2 result for both new sales and resales and the best half-year result in the company's history, with 545 sales achieved in the six months to 30 June. "That's nearly 50 percent higher for the half than our best pre-COVID total sales result and also 5% higher than we achieved in the second half of last year," Mr Scoullar said. "Demand continues to be strong for both new sales and resales. We have seen good diversification of sales across the country with 70 percent of new sales coming from four villages: Casebrook (Christchurch), Ellerslie (Auckland), Rototuna (Hamilton) and Te Awa (Napier)." Since Q1, Summerset's waitlist for people looking to enter a Summerset village increased by a further 8 percent. Mr Scoullar said Summerset had pre-sold all independent living units being delivered in Q3 at the Bell Block (New Plymouth), Hobsonville (Auckland) and Te Awa villages, as well as 80 percent of those available at Rototuna. More than half the new units delivered in the second half would be serviced apartments, memory care apartments and care beds and suites. These typically take longer to sell than villas and independent living apartments as they are needs based, and it was therefore expected sales in the second half of the year would be marginally lower than the first half, Mr Scoullar said. The biggest delivery in Q3 would be the $54 million, 10,500m2 main building at Avonhead (Christchurch), home to serviced apartments, a care centre and a state-of-the-art memory care centre, as well as resident amenities such as a swimming pool, gym and cafe. "These main buildings are an integral part of all new Summerset villages and this will be the second we have delivered this year. They're a key part of our continuum of care model, which is all part of bringing the best of life for our residents," Mr Scoullar said. ENDS For investor relations enquiries: Scott Scoullar Chief Executive Officer 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:00375448 For:SUM Type:MKTUPDTE Time:2021-07-12 08:30:42