Ryman Annual Meeting 2022 Media Release and Presentation

Full year result
RYMAN HEALTHCARE
1
28 July 2022
Annual meeting
RYMAN HEALTHCARE

Agenda
Welcomeand introductions
Chair’s address
Group Chief Executive’s address
Resolutions
General business
2
01
02
03
04
05
Ryman Foreman Ian Lee on site at our Miriam Corban Village in Auckland.

3
Our directors
Greg Campbell (Chair)
MBA (DIST) FNZIM
Joined 2021
Dr David Kerr
CNZM, MBCHB, FRNZCGP
Joined 1994
Claire Higgins
BCOM, FCPA, FAICD
Joined 2014
George Savvides
AM, BE (HONS), MBA, FAICD
Joined 2013
Geoffrey Cumming
BA (HONS), MSC (ECON), LLD
Joined 2018
Paula Jeffs
BA, GRAD DIP (IR),
GAICD, CAHRI
Joined 2019
Warren Bell
MCOM, FCA
Joined 2011
Jo Appleyard
LLB (HONS)
Joined 2009
Anthony Leighs
NZCB
Joined 2018

Virtual
meeting
instructions
4

5
Clinical Manager Madelyn Premacio(far right) with her care team at our Charles Upham Village in Canterbury.

6
$692.9m
Reported (IFRS) profit
Underlying profit*
$255.0m
Net assets
$3.4bn
$692.9m
Totalassets
Reported (IFRS) profit
$1.40bn
Cash receipts
Full-year
highlights
Underlying profit*
$255.0m$10.97bn
13.6%
63.8%
18.7%
Net assets
*Underlying profit is a non-GAAP measure and differs from NZ IFRS profit forthe period.
Refer to slide 23 for a breakdown of underlying profit.
$3.4bn
21.4%
13.6c
Final dividend
per share
unchanged
from the
prior year
19.6%

7
Total assets of
$10.97 billion
-
$1bn
$2bn
$3bn
$4bn
$5bn
$6bn
$7bn
$8bn
$9bn
$10bn
$11bn
$12bn
201720182019202020212022
Total assetsInterest bearing debt
Note: Interest bearing debt represents “interest-bearing loans and borrowings” in the balance sheet and includes secured bank loans, unsubordinated fixed-rate
retail bonds, USPP notes and institutional term loan (ITL). As documented in the Group's facility agreement, the Group has a right to off-set cash balances held
against bank debt. Included in total interest bearing debt is total secured bank loans net of cash held at balance date.
•Total assets up 19.6.% to $10.97
billion
•Debt to debt-plus-equity ratio
reduced to 43% at 31 March 2022,
down from 44.5% at 30 September
2021

8
* Embedded value reflects the resale bank, accrued management fees and resident loans.
Embedded
value lifted to
$2.45 billion
•Resale bank up 62.7% to $1.87 billion
to underpin future earnings
•Implied resale margin of 27.8%
•Embedded value* now $2.45 billion
-
$0.5bn
$1.0bn
$1.5bn
$2.0bn
$2.5bn
201720182019202020212022
Resale bankAccrued management fees & resident loans

9
Members of our award-winning COVID response team in Victoria.

Raising the
bar on our
resident
experience
Ryman resident Terry at our Logan Campbell Village in Auckland, who won an Olympics@RYMAN
gold medal in swimming.
10

Construction
started at four
additional
villages during
the year
11
Ringwood East, Melbourne
Highett, Melbourne
Northwood, Christchurch
Takapuna, Auckland
Artistimpressions.

Four new
sites added
to the land
bank during
the year
12
Rolleston, Canterbury
Coburg North, Melbourne
Mulgrave, Melbourne
Kealba, Melbourne
Site boundaries are indicative only.

13
Nukuhau,
Taupō
Site boundaries are indicative only.

14
Our senior executives
Richard Umbers
GROUP CHIEF EXECUTIVE
David Bennett
GROUP CHIEF
FINANCIAL OFFICER
Cheyne Chalmers
CHIEF EXECUTIVEOFFICER
– NEW ZEALAND
Cameron Holland
CHIEF EXECUTIVE OFFICER
– AUSTRALIA
Marsha Cadman
CHIEF SALES AND
MARKETING OFFICER
Chris Evans
CHIEF DEVELOPMENT
ANDCONSTRUCTION
OFFICER
Mary-Anne Stone
CHIEF STRATEGY OFFICER
Rick Davies
CHIEF TECHNOLOGY AND
INNOVATION OFFICER

15
Sales Advisor Tracy Blackadder and residents Anna and Les at our Charles Upham Village in Canterbury.

16
Ryman Senior Quantity Surveyor Liz De Villiers at our Kevin Hickman Village in Christchurch.

17
Resolutions
2.1 George Savvides
Director George Savvidesoffers
himself for re-election.
2.2 Anthony Leighs
Director Anthony Leighs offers
himself for re-election.
3 Auditors remuneration
Authorising the board to fix the
auditor’s remuneration.
Ryman resident Rosemary and Registered Nurse, Sandra Hendriks at our
Diana Isaac Village in Christchurch.

“
Under NZX Listing Rule 2.7.1 a
director must not hold office past
the later of three years and the
third annual meeting after their
appointment without being
re-elected by shareholders.
Director George Savvidesretires in
accordance with these
requirements and, being eligible,
offers himself for re-election.
18
Resolution 2.1
George Savvides

“
Under NZX Listing Rule 2.7.1 a
director must not hold office past
the later of three years and the
third annual meeting after their
appointment without being
re-elected by shareholders.
Director Anthony Leighs retires in
accordance with these
requirements and, being eligible,
offers himself for re-election.
19
Resolution 2.2
Anthony Leighs

Deloitte is automatically reappointed as the auditor of Ryman
under section 207T of the Companies Act 1993.
Pursuant to section 207S of the Companies Act 1993, this
resolution authorises the board to fix the auditor’s remuneration.
20
Resolution 3
Auditors remuneration

21
General business
Fit-out Site Manager Jason Q Zhao and Site Administrator MatakeuTimms at our Miriam Corban Village in Auckland.

Full year result
RYMAN HEALTHCARE
22
Thank you
Ryman resident Hazel and Activities Coordinator, Keefe Martinez at our Logan Campbell Village in Auckland.

23
Appendix 1: Reported (IFRS) profit
Underlying profit is a non-GAAP (Generally Accepted Accounting Principles) measure and differs from NZ IFRS profit for the period. Underlying profit does not have a
standardised meaning prescribed by GAAP and so may not be comparable to similar financial information presented by other entities.
The Ryman Group uses underlying profit, with other measures, to measure performance. Underlying profit is a measure that the Ryman Group uses consistently across
reporting periods.
Underlying profit excludes deferred taxation, taxation expense, unrealised gains on investment properties, and impairment losseson non-trading assets because these
items do not reflect the trading performance of the Ryman Group. Underlying profit is used as the basis for determining the divi dend pay-out to shareholders.
12 months to 31 Mar 2212 months to 31 Mar 21
$mNZAustGroupNZAustGroup
Underlying profit (non-GAAP)203.851.2
255.0
192.332.2
224.4
Unrealised revaluations of investment properties436.830.3
467.1
192.68.6
201.2
Deferred tax credit / expense-50.921.7
-29.2
5.96.7
12.6
Impairment - loss on disposal0.00.0
0.0
0.0-15.1
-15.1
Reported net profit after tax589.6103.2
692.9
390.732.3
423.1

24
Disclaimer
This presentation sets out information relating to Ryman Healthcare Limited’s full
year result for the period to 31 March 2022.It should be read in conjunction with all
other material which we have released, or may release, to NZX from time to time.
That material is also available on our website at www.rymanhealthcare.com
.
Purpose of this presentation
This presentation is for information purposes only. It is not an offer of financial
products, or a proposal or invitation to make any such offer.It is not investment
advice or a recommendation in relation to financial products, and does not take
into account any person’s individual circumstances or objectives.Every investor
should make an independent assessment of Ryman on the basis of expert financial
advice.
Forward-looking statements
This presentation contains forward-looking statements and projections. These
reflect our current expectations, based on what we think are reasonable
assumptions.However, any of these forward-looking statements or projections
may be materially different due to a range of factors and risks. Ryman gives no
warranty or representation as to our future financial performance or any future
matter.
Non-GAAP information
Some of the financial information in this presentation has not been prepared in
accordance with generally accepted accounting principles (i.e. it is non-GAAP
financial information).This includes, in particular, our ‘underlying profit’ which
Ryman has used for many years as a means of showing our profit absent any
unrealised valuation movements. Ryman has historically used underlying profit
as the basis for determining dividend payments to shareholders.We show our
underlying profit together with our reported profit based on NZ IFRS (a GAAP
measure).
Disclaimer
To the maximum extent permitted by law, we will not be liable (whether in
tort including negligence, contract, statute or otherwise) to you or any
other person in relation to this presentation, including any error or
omission in it.
Use same
picture as
cover
Residents June and Jack with Serviced Apartment Coordinator,
ShanleeBarnes-Webber at our Diana Isaac Villagein Christchurch.

---

MEDIA RELEASE July 28, 2022
Ryman villages continue to be in demand thanks to COVID

Demand to live in Ryman Healthcare’s villages remains strong with new residents
looking for the security and certainty that purpose-built Ryman communities offer
during COVID, shareholders were told today.
“We’ve reviewed progress and we are pleased with where we are at after the first
three months of the financial year,’’ Ryman Healthcare Chair Greg Campbell told the
company’s annual meeting in Christchurch today.
“The companionship, care, support and lifestyle choices our villages offer continues to
be in demand. Our villages are seen as attractive places to be as they and our
communities adjust to living with COVID.’’
Mr Campbell said that latest research from Business and Economic Research (BERL)
and JLL showed that New Zealand needs another 15,000 aged care beds by 2030 and
another 24,500 retirement units by 2033, and Ryman was determined to play its part
in meeting that extraordinary demand.
“Aged care beds are scarce and getting scarcer in both New Zealand and Victoria and
there’s a lot of talk about the problems we face as a society in caring for older people.
Our focus is on being part of the solution,’’ he said.
Group Chief Executive Richard Umbers said sales in Victoria, where Ryman is the one
of the fastest growing operators in the market, continued to lead the way.
“We’re considered a disruptor in the market in Australia, and we’re delighted with the
response we’ve had to our developments, and we will continue to look for new sites.’’
Ryman Healthcare opened its first village in Victoria in 2014 and now has seven villages
in operation, and another nine in its development pipeline.
Mr Umbers said Ryman was committed to innovation to lift the experience of
residents living in its villages. A new App for residents is being rolled out which allows
them to keep in touch, make bookings and stay connected.
More than 1,300 residents have signed on to take part in Ryman’s Walking for
Wellness initiative which uses digital technology to allow them to walk the equivalent

of the Abel Tasman track in New Zealand or the Mornington Peninsula walkway in
Victoria.
Ryman currently has 16 retirement villages under construction in New Zealand and
Victoria, and recently announced the purchase of a large new site on the shores of
Lake Taupō.
Sixteen new villages currently under construction:
New Zealand
Lynfield, Auckland (Murray Halberg)
Devonport, Auckland (William Sanders)
River Rd, Hamilton (Linda Jones)
Lincoln Rd, Auckland (Miriam Corban)
Havelock North, Hawkes Bay (James Wattie)
Hobsonville, Auckland (Keith Park)
Riccarton Park, Christchurch (Kevin Hickman)
Northwood, Christchurch
Takapuna, Auckland
Australia
Brandon Park, Melbourne (Nellie Melba)
Burwood East, Melbourne (John Flynn)
Highton, Victoria (Charles Brownlow)
Ocean Grove, Victoria (Deborah Cheetham)
Aberfeldie, Melbourne (Raelene Boyle)
Highett, Melbourne
Ringwood East, Melbourne

Sites in the land bank:
New Zealand
Kohimarama, Auckland
Park Terrace, Christchurch
Karori, Wellington
Newtown, Wellington
Karaka, Auckland
Cambridge, Waikato
Rolleston, Canterbury
Taupō, Waikato
Australia
Mt Eliza, Victoria
Mt Martha, Victoria
Coburg North, Melbourne
Kealba, Melbourne
Mulgrave, Melbourne
Essendon, Melbourne

About Ryman:
Ryman Healthcare was founded in Christchurch in 1984 and owns and operates 45
retirement villages in New Zealand and Australia. Ryman villages are home to 13,200
residents, and the company employs 6,700 staff.
Contacts:
For investor relations information contact Hayden Strickett, Head of Investor
Relations, on 027 303 1132 (+64 27 303 1132) or email
hayden.strickett@rymanhealthcare.com
For media information or images contact David King, Head of Communications and
External Relations, on 021 499 602 (+64 21 499 602) or email
david.king@rymanhealthcare.com