Oceania positioned for growth

MEDIA RELEASE
20 May 2022

OCEANIA POSITIONED FOR GROWTH

Oceania today announced unaudited Underlying Earnings before interest, tax, depreciation
and amortisation (EBITDA) of $76.2m for the year ended 31 March 2022, a 16.2% ($10.6m)
increase on the year ended 31 March 2021.

Highlights:
 Oceania announced to the market on 9 May 2022 that it had entered into conditional
agreements to purchase Remuera Rise (Newmarket, Auckland) and Bream Bay
Village (Northland) for approximately $57 million.
 450 sales across independent living apartments, villas and care suites throughout the
year to 31 March 2022.
 550 units and care suites under construction as at 31 March 2022 and 300 units and
care suites forecast to complete in the year ended 31 March 2023.
 Operating cashflow for the year to 31 March 2022 was $105.5m, compared to $96.0m
for the 10 months to 31 March 2021, reflecting strong first time sales and resales during
the period.
 Total assets increased to $2.2 billion as at 31 March 2022, compared with $1.9 billion
as at 31 March 2021.
 Oceania’s net adjusted value (NAV) has increased to $1.38 per share.
 Increase in facility size from $350 million to $500 million and an extension of maturity
date to Financial Year 2028.
 Final dividend of 2.3 cents per share (not imputed) announced. This will have a record
date of 7 June 2022 and will be paid on 21 June 2022. The Dividend Reinvestment
Plan will apply to this dividend.

MEDIA RELEASE
20 May 2022
31 March 2022 unaudited non-GAAP trading measures 12 months vs 12 months
$m’s
12 months to
31 March
12 months to
31 March
Growth
Unaudited 2022 2021 $m %
Underlying EBITDA
76.2 65.6 10.6 16.2%
Underlying NPAT
56.7 49.0 7.7 15.7%
Sales
450 434 16 3.7%
Occupancy
92.0% 92.0% - -

31 March 2022 audited GAAP statutory measures 12 months vs 10 months
$m’s
12 months to
31 March
10 months to
31 March
Audited 2022 2021
Operating Revenue
231.1 175.4
Reported NPAT
61.1 85.7
Operating Cashflow
105.5 96.0
Total Assets
2,193.8 1,882.2

Oceania CEO Brent Pattison advised that “significant steps have been made to strengthen
the balance sheet during the year which has provided a strong platform for ongoing growth.
This will enable Oceania to accelerate its development pipeline, add greenfield sites and
compliment this growth with M&A activity.”
Oceania announced to the market on 9 May 2022 that it had entered into conditional
agreements to purchase Remuera Rise (Newmarket, Auckland) and Bream Bay Village
(Northland) for approximately $57 million, together with an option to acquire 6.7 hectares of
additional development land at Bream Bay. Mr Pattison noted that “this was a targeted
strategic investment conducted under exclusivity with the vendor and successfully executed
in a short timeframe, demonstrating the value in Oceania’s belief in developing positive
partnerships.”
Oceania’s upfront investment in its clinical platform has served it well in managing clinical risks
throughout the COVID-19 pandemic. As New Zealand looks beyond the COVID-19 lockdowns
of 2021, Oceania is building upon this platform in a way that enables us to adapt and respond
to change and ensure that Oceania is nimble to respond to any challenges that arise in the
future.
For the year ended 31 March 2022, operating cashflow was $105.5m, compared to $96.0m
for the 10 months to 31 March 2021, reflecting strong first time sales and resales during the
period. Total assets increased to $2.2 billion as at 31 March 2022, compared with $1.9 billion
as at 31 March 2021. This material increase is due to the addition of the Waterford and
Franklin acquisitions in the period, coupled with growth in asset value on first time sales of
development sites.
Oceania recently announced that it had entered into an amended facilities agreement which
provides for an increase in facility size from $350 million to $500 million and an extension of
maturity date to Financial Year 2028. The increased facilities will be used to accelerate
Oceania’s development pipeline.

MEDIA RELEASE
20 May 2022

Oceania has refined its strategy and has developed four key strategic pillars; offer, resident
experience, people capability and growth, and is working towards achieving specific goals for
each of these pillars. Oceania is moving beyond its brownfield development pipeline into a
greenfield development strategy and has increased annual build rate to at least 300 units and
care suites.
Oceania has always been an innovator in the sector and has led in the evolution of resident
experience. “Oceania is now taking the concept of resident experience further. Fresh thinking
has generated exciting new innovative services that will be launched at our flagship site The
Helier (St Heliers Auckland) in 2023” said Mr Pattison.
Oceania Chair Liz Coutts advises the Board declared a final dividend of 2.3 cents per share
(unimputed), bringing the total dividend for the year ended 31 March 2022 to 4.4 cents per
share (unimputed). The record date for the dividend is 7 June 2022 and the payment date is
21 June 2022. The Dividend Reinvestment Plan will apply to the dividend payable on 21 June
2022 at a discount of 2.0% to the volume weighted average price of shares sold on the NZX
Main Board over the period of the five trading days starting on 3 June 2022.
ENDS


For all enquiries, please email investor@oceaniahealthcare.co.nz or phone 0800 333 688

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Distribution Notice

Updated as at 18 December 2019



Please note: all cash amounts in this form should be provided to 8 decimal places

Section 1: Issuer information
Name of issuer Oceania Healthcare Limited
Financial product name/description Ordinary Shares
NZX ticker code OCA
ISIN (If unknown, check on NZX
website)
NZOCAE0002S0
Type of distribution
(Please mark with an X in the
relevant box/es)
Full Year x Quarterly
Half Year Special
DRP applies x
Record date 7 June 2022
Ex-Date (one business day before the
Record Date)
3 June 2022
Payment date (and allotment date for
DRP)
21 June 2022
Total monies associated with the
distribution
1

$16,334,703
Source of distribution (for example,
retained earnings)
Retained Earnings
Currency NZD
Section 2: Distribution amounts per financial product
Gross distribution
2
0.02300000
Gross taxable amount
3
0.02300000
Total cash distribution
4
0.02300000
Excluded amount (applicable to listed
PIEs)
NA
Supplementary distribution amount NA
Section 3: Imputation credits and Resident Withholding Tax
5

Is the distribution imputed No imputation



1
Continuous issuers should indicate that this is based on the number of units on issue at the date of the form
2
“Gross distribution” is the total cash distribution plus the amount of imputation credits, per financial product, before the deduction of
Resident Withholding Tax (RWT).
3
“Gross taxable amount” is the gross distribution minus any excluded income.
4
“Total cash distribution” is the cash distribution excluding imputation credits, per financial product, before the deduction of RWT.
This should include any excluded amounts, where applicable to listed PIEs.
5
The imputation credits plus the RWT amount is 33% of the gross taxable amount for the purposes of this form. If the distribution is
fully imputed the imputation credits will be 28% of the gross taxable amount with remaining 5% being RWT. This does not constitute
advice as to whether or not RWT needs to be withheld.

If fully or partially imputed, please
state imputation rate as % applied
6

NA
Imputation tax credits per financial
product
NA
Resident Withholding Tax per
financial product
0.00759000
Section 4: Distribution re-investment plan (if applicable)
DRP % discount (if any)
2%
Start date and end date for
determining market price for DRP
3 June 2022 10 June 2022
Date strike price to be announced (if
not available at this time)
13 June 2022
Specify source of financial products to
be issued under DRP programme
(new issue or to be bought on market)
New Issue
DRP strike price per financial product
[TBC]
Last date to submit a participation
notice for this distribution in
accordance with DRP participation
terms
08/06/2022
Section 5: Authority for this announcement
Name of person

authorised to make
this announcement
Anna Thorburn
Contact person for this
announcement
Anna Thorburn
Contact phone number 0800 333 688
Contact email address Anna.Thorburn@oceaniahealthcare.co.nz
Date of release through MAP

20 May 2022





6
Calculated as (imputation credits/gross taxable amount) x 100. Fully imputed dividends will be 28% as a % rate applied.

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Template
Results announcement
(for Equity Security issuer/Equity and Debt Security issuer)
Updated as at 17 October 2019

Results for announcement to the market
Name of issuer Oceania Healthcare Limited
Reporting Period 12 months to 31 March 2022
Previous Reporting Period 10 months to 31 March 2021
Currency NZD
Amount (000s) Percentage change
Revenue from continuing
operations
$231,140 [na – periods not comparable]
Total Revenue $231,140 [na – periods not comparable]
Underlying earnings before
interest, tax, depreciation
and amortisation
$76,241 [na – periods not comparable]
Total net profit/(loss) $61,129 [na – periods not comparable]
Total Comprehensive
Income
$114,433 [na – periods not comparable]
Interim/Final Dividend
Amount per Quoted Equity
Security
0.023000
Imputed amount per Quoted
Equity Security
Not applicable
Record Date 7 June 2022
Dividend Payment Date 21 June 2022
Current period Prior comparable period
Net tangible assets per
Quoted Equity Security
$1.32 $1.20
A brief explanation of any of
the figures above necessary
to enable the figures to be
understood
Please refer to attached documents (consolidated financial
statements and annual report, media release and results
presentation).
Authority for this announcement
Name of person

authorised
to make this announcement
Anna Thorburn
Contact person for this
announcement
Anna Thorburn
Contact phone number 0800 333 688
Contact email address Anna.Thorburn@oceaniahealthcare.co.nz
Date of release through MAP

20 May 2022

Audited financial statements accompany this announcement.