RetireAustralia Strategic Review

Infratil Limited 5 Market Lane, PO Box 320, Wellington, New Zealand Tel +64-4-473 3663 www.infratil.com
1 March 2022
RetireAustralia Strategic Review
Infratil advises that it intends to undertake a strategic review of its shareholding in RetireAustralia. The
strategic review will be undertaken in conjunction with a strategic review by the NZ Super Fund of its
shareholding in RetireAustralia.
RetireAustralia is a leading owner, operator and developer of retirement villages in Australia with over
5,000 residents across 28 retirement villages in New South Wales, South Australia and Queensland.
The business has an integrated Home Care offering, four development projects under construction, a
significant development pipeline and an experienced team with proven ability to deliver.
Infratil and the NZ Super Fund will engage with market participants over the coming months to
consider proposals which may include an outright sale. The strategic review will assess all options
with a view to maximising value for all stakeholders.
Jason Boyes, Infratil Chief Executive, said “the RetireAustralia management team and staff have
performed extremely well in very trying times, and the business is now performing strongly. We feel it
is a good time assess the scale of the investment in our portfolio and whether there is a higher value
owner to support delivering the business’s strategic plan”.
“We continually assess the shape and structure of our portfolio to ensure it delivers the best long-term
value to New Zealanders. With a strong management team in place and the business performing well,
it is time to consider what ownership structure is best for RetireAustralia and for us” says NZ Super
Fund Senior Advisor Real Estate Toby Selman.
Chairperson of RetireAustralia Peter Coman said “while the owners are reviewing their position there
will be no change for our people or the commitment to providing a high level of service and care to our
residents and communities”.
Infratil will continue to update the market of any material developments.
RetireAustralia is owned by Infratil (50%) and the NZ Super Fund (50%) and managed on behalf of
both shareholders by investment management firm Morrison & Co.
Any enquiries should be directed to:
Mark Flesher,
Investor Relations
Infratil Limited
mark.flesher@infratil.com