Radius Care Interim 2023 Results

RADIUS RESIDENTIAL CARE LIMITED
Level 4, 56 Parnell Road, Parnell, Auckland, New Zealand
Phone 09 304 1670 www.radiuscare.co.nz
Caring is our calling
25 November 2022
Radius Care Delivers Strong Performance and Executes Growth Strategy
Radius Residential Care Limited (NZX: RAD) today announced its results for the six months
ended 30 September 2022, the first half of the FY23 year.
Highlights:
•Net Profit After Tax of $1.7m, up 29.2% on comparative period.
•Pre-NZ IFRS 16 Underlying EBITDA of $7.0m
1
, 36.7% up on comparative period.
•AFFO of $2.5m, 7.1% up on comparative period.
•Total Assets of $350.2m, up $60.1m from 31 March 2022.
•Acquisition of land and buildings for four facilities previously leased and one new
facility.
•Available beds increased in period by 81 to 1,865 and retirement villages units by 46
to 147.
•Occupancy at 91.9% at period end vs industry average of 85.3% for the September
2022 quarter.
•Commitment and compassion of our exceptional people through significant COVID
outbreaks.
•Excellent progress made on international registered nurse recruitment resulting in
an additional 120 nurses starting early in 2023 filling all current vacancies.
•Fully imputed gross dividend of 0.70 cps, in line with last year’s interim dividend of
0.696 cps.
Radius Residential Care Limited (NZX: RAD) has delivered Net Profit After Tax of $1.7m for
the six months ended 30 September 2022, an increase of 29.2% on the $1.3m achieved in
the FY22 corresponding period. Pre-NZ IFRS 16 Underlying EBITDA was $7.0m an increase
of 36.7% on the prior comparative period. Revenue increased 7.6% on the prior period to
$69.9m and AFFO was up on the prior comparative period at $2.5m.
“We are a specialist care provider and our business has produced excellent results,
particularly given the widely-known challenging conditions faced by the sector. Our
business is increasingly demonstrating its resilience and has once again executed on our
growth strategy and achieved a strong financial performance. These results are a
testament to our exceptional people who have continued to deliver exceptional care to our
residents in challenging circumstances for the industry including widespread COVID
outbreaks and staffing shortages” said Andrew Peskett, Radius Care’s CEO.
1
Underlying EBITDA is a non-GAAP (unaudited) financial measure. A reconciliation is included within
the Investor Interim Report and the Investor Presentation.

Business performance
Radius Care’s business has delivered growth across its key metrics.
There were 1,865 available beds as at 30 September, an increase of 81 since 31 March.
Occupancy levels have remained strong and well above industry averages. Occupancy for
September was an average of 91.9%, compared with 92.0% recorded for March 2022.
Radius Care’s development bank increased to 299 care beds and 124 units at the end of
the period.
“We were delighted to be able to add an exceptional new operation, Matamata Country
Lodge, to our portfolio in late September. It’s a very high-quality facility with high
occupancy and often has a waiting list. With nearly fifty retirement village units, it provides
further evidence of execution of our growth strategy” said Mr Brien Cree, Radius Care’s
Executive Chair.
“In May we settled the acquisition of the land and buildings of four facilities we previously
leased. At the end of September, Radius Care’s portfolio had grown to 24 facilities of which
13 are owned and 11 leased. The last six months demonstrate that Radius Care continues
to go from strength to strength. We’re continuing to position our asset base in line with
Radius Care’s strategy and to deliver positive results for shareholders”.
People
“I want to give immense thanks to our staff for the way they’ve continued to offer the very
best of care every day to our residents. Radius Care has a strong offering in the care sector
of the market and it continues to perform well. The results we’ve achieved point to our
operational capability as well as the resilience of our staff. The last six months have again
been particularly challenging with COVID-19 continuing to put immense pressure in any
number of ways on our people”.
Radius Care has intensified its efforts overseas to recruit nurses and has received a steady
stream of applications from IQNs (Internationally Qualified Nurses). These nurses are
required to complete the New Zealand training programme, allowing them to work as
Registered Nurses as quickly as possible. The company has well in excess of 100 new IQNs
starting shortly which is likely to give it a competitive advantage over more poorly-staffed
competitors.
The company has also introduced virtual nurses to our offering which allows a wide array
of different nurses to assist in resident care and alleviate current staffing pressures.
The senior leadership team was strengthened with the commencement during the period
of Wendy Jenkins and Richard Callander.
Financial performance
Revenue increased 7.6% on the prior period to $69.9m excluding other income.
Radius Care’s key performance measure, pre-NZ IFRS16 Underlying EBITDA was $7.0m
compared to $5.1m achieved for the comparative period. In part this was driven by direct
private revenue paid by residents for non-government funded services and amenities
increasing to $7.2m, up 34.2% from $5.4m in the prior comparable period.
Caring is our calling

Caring is our calling
Overall operating costs were $70.8m, a 9.5% increase on the prior year.
Underlying EBITDA of $11.3m was achieved, up 0.6% on the comparative period.
AFFO of $2.5m was earned, up on the $2.3m earned in the comparative period.
Radius Care recently confirmed the bridge facilities put in place on 6 May 2022 had been
extended for six months to be repaid on 6 April 2023.
Dividend
A gross dividend of 0.70 cents per share has been declared for the half year to be paid on
13 January 2023. The dividend is based on a 58% pay out which is in line with the policy to
target a pay out ratio of 50% to 70% of AFFO. The dividend will carry full imputation
credits. A dividend reinvestment plan has recently been approved and will apply for this
interim dividend. The dividend will be paid on 13 January 2023 to allow investors time to
participate in the DRP.
Development update
The building program is progressing well with projects that are in train being on time and
on budget. The second half of FY23 will see the completion of developments at Thornleigh
Park, adding an additional 24 care beds to the available pool. Construction work is targeted
to start in early 2023 at Taupaki Gables, delivering an additional 20 care beds in the last
quarter of the FY24 year. Two further developments are targeted to start in 2023 with
phasing subject to the economic climate.
Outlook
The company is expecting a second half result that is likely to exceed the pre-NZ IFRS16
Underlying EBITDA achieved in the first half.
ENDS
Media and Investor Contacts:
Andrew Peskett Wendy Jenkins
Chief Executive Chief Financial Officer
Ph 021 747 363 Ph 027 471 2377
About Radius Care
Radius Residential Care Ltd was founded in 2003 and operates in the New Zealand aged care and
retirement village sectors. It is a nationwide provider offering the full range of accommodation and
care options giving residents the ability to "age in place". Today, Radius Care operates 24 aged care
facilities, of which it owns 13 and leases 11. Four owned facilities also include retirement villages
and Radius Care’s online shop sells specialist assisted-living products. The company employs over
1,700 people, including highly qualified healthcare staff who are committed to providing the very
best in nursing care. Radius Care listed on the NZX in December 2020. For more information visit
radiuscare.co.nz or check out our Facebook page @RadiusCareNZ.

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INTERIM FINANCIAL STATEMENTS
Radius Residential Care Ltd | www.radiuscare.co.nz
Interim
Report 2023
Radius Residential Care Ltd | www.radiuscare.co.nz
Caring is our calling
INTERIM FINANCIAL STATEMENTS

Contents
Consolidated Statement of Comprehensive Income 3
Consolidated Statement of Changes in Equity 4
Consolidated Statement of Financial Position 5
Consolidated Statement of Cash Flows 6
Notes to the Consolidated Interim Financial Statements8
Independent Auditor's Review Report 32
For the six months ended 30 September 2022
Contents
2
Radius Residential Care Interim Financial Statements 2023

The accompanying notes form an integral part of these consolidated interim financial statements.
Consolidated Statement of Comprehensive Income
For the six months ended 30 September 2022
$’000NOTES
Unaudited
Six Months
30-Sep-22
Unaudited
Six Months
30-Sep-21
REVENUE
Revenue from contracts with customers69,10164,458
Deferred management fees768449
Total revenue69,86964,907
Fair value movement of investment properties2.1175(65)
Government subsidy received 154—
Interest income5032
Gain on acquisition of leased property assets2.41,7811,403
Gain on business acquisition4.4927—
Total revenue and other income72,95666,277
EXPENSES
Employee costs (44,341)(39,292)
Depreciation expense(4,986)(5,746)
Finance costs(5,344)(4,590)
Other expenses(16,097)(14,987)
Total expenses(70,768)(64,615)
Profit before income tax 2,1881,662
Income tax expense4.1(464)(328)
Profit for the period1,7241,334
OTHER COMPREHENSIVE INCOME FOR THE PERIOD
Other comprehensive income
——
Total comprehensive income1,7241,334
Basic and diluted earnings per share (cents per share)3.2 0.64 0.64
3
Radius Residential Care Interim Financial Statements 2023

$’000NOTES
Contributed
equity
Asset
revaluation
reserve
Other
reserve
Retained
earningsTotal
Balance as at 1 April 2021
1
5,932 6,812 — 11,349 24,093
Profit for the period — — — 1,334 1,334
Other comprehensive income — — — — —
Total comprehensive income — — — 1,334 1,334
Transactions with owners
Net proceeds from issue of shares3.1 45,825 — — — 45,825
Dividends paid3.1 — — — (1,128)(1,128)
Total transactions with owners 45,825 — — (1,128) 44,697
Balance as at 30 September 2021
2
51,757 6,812 — 11,555 70,124
Balance as at 1 April 2022
1
51,732 6,812 — 11,544 70,088
Profit for the period — — — 1,724 1,724
Share based payments reserve4.3 — — 9 — 9
Other comprehensive income — — — — —
Total comprehensive income ——9 1,724 1,733
Transactions with owners
Net proceeds from issue of shares3.1 5,000 — — — 5,000
Dividends paid3.1 — — — (1,481)(1,481)
Total transactions with owners 5,000 — — (1,481)3,519
Balance as at 30 September 2022
2
56,732 6,812 9 11,787 75,340
The accompanying notes form an integral part of these consolidated interim financial statements.
1
Audited
2
Unaudited
Consolidated Statement of Changes in Equity
For the six months ended 30 September 2022
4
Radius Residential Care Interim Financial Statements 2023

$’000NOTES
Unaudited
30-Sep-22
Audited
31-Mar-22
ASSETS
Cash and cash equivalents 128 2,088
Trade and other receivables 14,232 9,882
Inventories 761 768
Current tax assets 59 —
Investment properties2.1 69,597 46,014
Property, plant and equipment2.2 131,238 73,839
Right-of-use assets2.4 110,998 133,912
Intangible assets 19,757 19,757
Deferred tax assets4.1 3,434 3,885
Total assets 350,204 290,145
LIABILITIES
Trade and other payables 18,392 16,901
Current tax liabilities— 444
Borrowings3.3 95,538 30,000
Deferred management fee2.3 3,387 1,553
Refundable occupation right agreements2.3 38,527 28,616
Lease liabilities2.4 119,020 142,543
Total liabilities 274,864 220,057
NET ASSETS 75,340 70,088
EQUITY
Share capital3.1 56,732 51,732
Asset revaluation reserve3.1 6,812 6,812
Other reserve3.1 9 —
Retained earnings 11,787 11,544
Total equity 75,340 70,088
The Board of Directors of the Company authorised these consolidated interim financial statements for issue on 25
November 2022.
For and on behalf of the Board.
Hamish Stevens - Chair, Audit and Risk Committee
Brien Cree - Chair, Board of Directors
The accompanying notes form an integral part of these consolidated interim financial statements.
Consolidated Statement of Financial Position
As at 30 September 2022
5
Radius Residential Care Interim Financial Statements 2023

The accompanying notes form an integral part of these consolidated interim financial statements.
Consolidated Statement of Cash Flows
For the six months ended 30 September 2022
$’000
Unaudited
Six Months
30-Sep-22
Unaudited
Six Months
30-Sep-21
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from residents for care fees and village fees
65,856
62,670
Payments to suppliers and employees
(60,039)
(54,899)
Proceeds from the sale of Refundable Occupation Right Agreements
1,335
1,610
Settlement of Refundable Occupation Right Agreements
(855)
—
Interest received
50
32
Interest paid - borrowings
(2,286)
(421)
Interest paid - lease liabilities
(3,046)
(4,169)
Income tax paid
(615)
(1,268)
Net cash provided by operating activities
400
3,555
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from the sale of property, plant and equipment747
Payments for the purchase of property, plant and equipment
(53,032)
(33,771)
Payments for village developments
(97)
(98)
Payment for acquisition of businesses
(500)
—
Net cash used in investing activities
(53,622)
(33,822)
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from issue of shares — 48,229
Proceeds from borrowings
54,020
—
Repayment of bank borrowings — (8,500)
Principal payment of lease liabilities
(1,277)
(1,950)
Share issue costs — (2,404)
Dividends paid
(1,481)
(1,128)
Net cash provided by financing activities
51,262
34,247
RECONCILIATION OF CASH AND CASH EQUIVALENTS
Cash and cash equivalents at beginning of the period
2,088
2,761
Net increase/(decrease) in cash and cash equivalents held
(1,960)
3,980
Cash and cash equivalents at end of the period
128
6,741
6
Radius Residential Care Interim Financial Statements 2023

Consolidated Statement of Cash Flows continued
$’000
Unaudited
Six Months
30-Sep-22
Unaudited
Six Months
30-Sep-21
RECONCILIATION OF PROFIT FOR THE PERIOD TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
Profit for the period 1,724 1,334
ADJUSTMENTS FOR NON-CASH ITEMS
Depreciation 4,988 5,746
Net loss/(gain) on disposal of property, plant and equipment13174
Gain on acquisition of leased property assets(1,781)(1,403)
Fair value adjustment to investment properties(175)65
Movement in deferred tax351(1)
Share based payments9 —
Gain on business acquisition(927) —
CHANGES IN OPERATING ASSETS AND LIABILITIES
- Trade and other receivables and other assets(4,347)(2,819)
- Inventories6(81)
- Trade and other payables and other liabilities 1,467 316
- Current tax liabilities(502)(939)
- Refundable Occupation Rights Agreements(426) 1,163
Net cash provided by operating activities 400 3,555
For the six months ended 30 September 2022
The accompanying notes form an integral part of these consolidated interim financial statements.
7
Radius Residential Care Interim Financial Statements 2023

Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
1. GENERAL INFORMATION
1.1. Basis of Preparation
Reporting Entity
The consolidated interim financial statements are for Radius Residential Care Limited (‘the Company’) and its subsidiaries
(together ‘the Group’).
The Group provides rest home and hospital care for the elderly along with development and operation of integrated
retirement villages in New Zealand.
Statutory Basis and Statement of Compliance
Radius Residential Care Limited is a limited liability company, incorporated and domiciled in New Zealand. It is registered
under the Companies Act 1993 and is a FMC Reporting Entity in terms of Part 7 of the Financial Markets Conduct Act 2013.
The Company is listed on the NZX Main Board (“NZX”). The consolidated interim financial statements have been prepared in
accordance with the requirements of the NZX, and Part 7 of the Financial Markets Conduct Act 2013.
These consolidated interim financial statements have been prepared in accordance with Generally Accepted Accounting
Practice in New Zealand (‘NZ GAAP’), They comply with New Zealand equivalents to International Accounting Standard 34
Interim Financial reporting (‘NZ IAS 34’) and International Accounting Standard 34 Interim Financial Reporting (‘IAS 34’).
The Group is a Tier 1 for-profit entity in accordance with XRB A1 Application of the Accounting Standards Framework.
The accounting policies that materially affect the measurement of the Consolidated Statement of Comprehensive Income,
Consolidated Statement of Financial Position and the Consolidated Cash Flow Statement have been applied on a basis
consistent with those used in the audited consolidated financial statements for the year ended 31 March 2022. All new
standards, amendments and interpretations to existing standards that came into effect during the current accounting period
have been adopted in the current year. None of these have had a material impact on the Group.
The consolidated interim financial statements do not include all the notes of the type normally included in the consolidated
annual financial statements. Accordingly, these consolidated interim financial statements are to be read in conjunction
with the consolidated annual financial statements for the year ended 31 March 2022, prepared in accordance with
New Zealand Equivalents to the International Financial Reporting Standard (‘NZ IFRS’) and International Financial
Reporting Standards (‘IFRS’).
The consolidated interim financial statements for the six month period ended 30 September 2022 and comparatives for the
six month period ended 30 September 2021 are unaudited, but reviewed. The consolidated annual financial statements for
the year ended 31 March 2022 were audited and form the basis for the 31 March 2022 comparative figures for that period in
these statements.
The consolidated interim financial statements have been prepared on a going concern basis, which contemplates continuity
of normal business activities and the realisation of assets and the settlement of liabilities in the ordinary course of business.
The balance sheet for the Group is presented on the liquidity basis where the assets and liabilities are presented in the order
of their liquidity. The Group has adopted the liquidity basis presentation to be consistent with its listed retirement village and
aged care peers.
Functional and Presentation Currency
The consolidated interim financial statements are presented in New Zealand dollars which is the Group’s functional currency.
All amounts have been rounded to the nearest thousand, unless otherwise indicated.
Measurement Basis
These consolidated interim financial statements have been prepared under the historical cost convention, with the exception
of investment properties (note 2.1) and land and buildings included within property, plant and equipment (note 2.2).
Key Estimates and Judgements
The preparation of the consolidated interim financial statements in conformity with IAS 34 and NZ IAS 34 requires the use of
certain critical accounting estimates. It also requires the Board of Directors and Management to exercise their judgement in
the process of applying the Group’s accounting policies.
8
Radius Residential Care Interim Financial Statements 2023

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised
in the period in which the estimate is revised and in any future periods affected.
The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to
the consolidated interim financial statements are described in the following notes:
• Valuation of investment properties (note 2.1)
• Valuation of land and buildings (note 2.2)
• Lease extension and termination options & incremental borrowing rates (note 2.4)
• Impairment testing of goodwill:
The recoverability of the carrying value of goodwill is assessed at least annually to ensure that it is not impaired.
Performing this assessment generally requires management to estimate future cash flows to be generated by the cash-
generating unit, which entails making judgements, including the expected rate of growth of revenues based on budgeted
projections of occupancy levels, margins expected to be achieved, the level of future capital expenditure required to
support these outcomes and the appropriate discount rate to apply when valuing future cash flows.
• Impairment testing of right-of-use assets (note 2.4)
• Recognition of deferred tax assets (note 4.1)
Following on from the disclosures in the Group’s annual financial statements for the year ended 31 March 2022 regarding the
ongoing COVID-19 pandemic, the New Zealand Government continued to maintain a range of public health and economic
measures to mitigate the impact of the COVID-19 pandemic. These measures have gradually been removed during the period
with the COVID-19 Protection Framework officially ending on 12 September 2022 and vaccine mandates being removed
on 26 September 2022. The pandemic and subsequent health measures imposed have lowered overall economic activity
across New Zealand. The Group’s revenue has not been significantly impacted, but the COVID-19 pandemic has increased
the Group’s expenditures since the outbreak began. In addition to the ongoing COVID-19 pandemic, unfavourable macro
and micro economic conditions and adverse global events, which include rapidly rising interest rates and inflation, skill
shortages and the flow on effects from the conflict between Ukraine and Russia is having a significant impact on energy and
financial markets across the globe is also further impacting Group’s expenditures. The Directors have assessed and taken
into consideration the impact of the ongoing COVID-19 pandemic, unfavourable macro and micro economic conditions and
adverse global events on these key estimates and judgements.
It is not possible to estimate the short and long-term effects of the above matters will have on operations.
As at the date of these interim financial statements, all reasonably known and available information with respect to the
COVID-19 pandemic has been taken into consideration and all reasonably determinable adjustments have been made in
preparing these consolidated interim financial statements.
Segment Reporting
An operating segment is a component of an entity that engages in business activities which earn revenue and incur
expenses and where the chief operating decision maker reviews the operating results on a regular basis and makes decisions
on resource allocation.
The Group operates in one operating segment being the provision of aged care in New Zealand. The chief operating decision
maker, the Board of Directors, reviews the operating results on a regular basis and makes decisions on resource allocation
based on the review of Group results and cash flows as a whole. The nature of the services provided and the type and
class of residents have similar characteristics within the operating segment. The Ministry of Health is a significant customer
of the Group, as the Group derives care fee revenue in respect of eligible Government subsidised aged care residents. No
other customers individually contribute a significant proportion of the Group’s revenue. All revenue earned and assets held
are in New Zealand.
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
9
Radius Residential Care Interim Financial Statements 2023

$’000NOTES
Unaudited
30-Sep-22
Audited
31-Mar-22
INVESTMENT PROPERTIES
Opening carrying amount 46,014 31,675
Acquisition of Matamata Retirement Village & Clare House
Retirement Village Limited
1
4.4 23,311 12,840
Development expenditure — —
Net fair value gain175 1,088
Occupation Right Agreements settled(1,160)(2,420)
Occupation Right Agreements entered 1,160 4,490
Purchases 9767
Unsold units included in opening carrying amount — (1,610)
Other adjustments — (116)
Closing carrying amount69,59746,014
A reconciliation between the valuation and the amount recognised on the
Consolidated Statement of Financial Position as investment properties is as follows:
Valuation of operator's interest 21,218 15,450
Refundable Occupation Right Agreements2.3 38,527 28,616
Deferred management fee2.3 3,387 1,553
Unsold units 3,715395
Residential properties2,750 —
69,597 46,014
2. PROPERTY ASSETS
2.1. Investment Properties
Accounting policy
Investment properties include freehold land and buildings (completed and under development), comprising retirement
villages including common facilities, provided for use by residents under the terms of a Refundable Occupation Right
Agreement (ORA). Investment properties are held for long term yields and to generate rental income.
Investment properties are initially recognised at cost. After initial recognition, investment properties are measured at fair
value. Gains or losses arising from a change in the fair value of investment properties is recognised in profit or loss.
Land acquired with the intention of constructing investment properties are classified as investment properties from
the date of acquisition.
Rental income from investment properties is accounted for as deferred management fees as described in note 2.3.
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
Valuation process and key inputs
The Group’s investment properties are valued on an annual basis by CBRE Limited (CBRE) and Colliers, independent valuers.
CBRE and Colliers are registered with the Property Institute of New Zealand, employ registered valuers and have appropriate
recognised professional qualifications and recent experience in the location and category of properties being valued.
Fair value as determined by CBRE and Colliers are adjusted for assets and liabilities already recognised in the Statement
of Financial Position which are also reflected in the discounted cash flow model. The valuation of investment properties is
then grossed up for cash flows relating to refundable Occupation Right Agreements, which are recognised separately in the
Statement of Financial Position (refer also note 2.3).
1. On 29 September 2022, the Group acquired investment properties as part of the Matamata Retirement Village business combination, refer to note
4.4. On 1 November 2021, the Group acquired investment properties as part of the Clare House business combination, refer to note 5.6 of the Group’s
audited consolidated financial statements for the year ended 31 March 2022.
10
Radius Residential Care Interim Financial Statements 2023

Retirement villages under development
The cost of retirement villages includes directly attributable construction costs and other costs necessary to bring the
retirement villages to working condition for their intended use. These other costs include professional fees and consents,
borrowing costs during the build period and head office costs directly related to the construction of the retirement villages.
Where costs are apportioned across more than one asset, the apportionment methodology is determined by considering the
nature of the cost. The borrowing costs capitalised during the period was $nil (31 March 2022: $nil). The related borrowing
costs were solely for the villages under development.
If the fair value of investment properties under development and construction cannot be reliably determined but it is
expected the fair value of the property can be reliably determined when construction is complete, then investment
properties under construction will be measured as cost less any impairment, until either its fair value can be reliably
determined or construction is complete. Impairment is determined by considering the value of work in progress and
Management’s estimate of the value of the investment properties on completion.
Unsold units
Any developed but not yet sold units (unsold units) are valued based on recent comparable transactions, adjusted for
disposal costs, holding costs and an allowance for profit and risk. This represents the fair value of the Group’s interest in
unsold units at reporting date.
Key accounting estimates and judgements
As the fair value of investment properties is determined using inputs that are significant and unobservable, the
Group has categorised investment properties as Level 3 under the fair value hierarchy in accordance with NZ IFRS 13
Fair Value Measurement.
Valuation uncertainty
As at the 30 September 2022 valuation date,
• The valuers of two investment properties, CBRE have included an uncertainty clause in their valuation that the direct
impacts of COVID on the wider property market are diminishing as a result of the Omicron outbreak peaking, high
vaccination rates, the re-opening of New Zealand’s international borders and an end to New Zealand’s COVID-19
Protection Framework from 12 September 2022. The most pressing issues now facing the property market both nationally
and globally are the high cost of living with rising inflation, surging oil prices and wider economic fallout from the current
geopolitical crisis stemming from events in Ukraine. They note their valuations are based on data and market sentiment
as at the date of valuation (being 30 September 2022). Past experience has shown that consumer and investor behaviour
can rapidly change during periods of volatility, with the possibility of a softening in values. Given the current economic
uncertainty, they have recommended the Group review their valuations periodically.
• The valuer of one investment property, Colliers, have included a clause in their valuation that in light of the prevailing
ongoing COVID-19 pandemic, current adverse macro and micro economic conditions and adverse global events, they
recommend their report be kept under frequent review as valuation advice is likely to become outdated significantly
quicker than is normally the case. Per the accepted definition, the market value has been concluded “as at the valuation
date” (being 30 September 2022) and is based on events and evidence up to that date. It reflects sentiment at that point
in time and the value on the day.
• The valuer of one investment property, Jones Lang LaSalle (JLL), have included a clause that their valuation is relevant
at the date of preparation (being 20 October 2021, for which the valuer has provided an update confirming the carrying
amount does not differ materially from that which would be determined using fair value as at 30 September 2022) and
to the circumstances prevailing at that time. However, within a changing economic environment experiencing fluctuations
in interest rates, inflation levels, rents and global economic circumstances, acceptable returns on investment may, as a
consequence, be susceptible to future variation. They therefore recommend that before any action is taken involving an
acquisition, disposal or other transaction more than 90 days after the date of their valuation, the Group consult JLL.
Refer to note 3.1 of the Group’s audited consolidated financial statements for the year ended 31 March 2022 for the valuation
uncertainty as at that date.
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
11
Radius Residential Care Interim Financial Statements 2023

Significant unobservable inputs
The significant unobservable input used in the fair value measurement of the Group’s development land is the value
per square meter assumption. Increases in the value per square meter rate result in the corresponding increases
in the total valuation.
The significant unobservable inputs used in the fair value measurement of the Group’s portfolio of completed investment
properties are the discount rate and the property growth rate.
The stabilised occupancy is a key driver of the valuations. A significant increase/(decrease) in the occupancy period would
result in a significant lower/(higher) fair value measurement.
Current ingoing price, for subsequent resales of ORAs, is a key driver of the valuations. A significant increase/
(decrease) in the ingoing price (as driven by the property growth rates) would result in a significantly higher/(lower) fair
value measurement.
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
Radius Glaisdale
12
Radius Residential Care Interim Financial Statements 2023

CategoryUseful Life Range
Buildings50 years
Motor vehicles5 years
Furniture, fixtures and fittings5 - 10 years
Information technology4 years
Medical equipment 7 years
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
2.2. Property, Plant and Equipment
Accounting policy
Property, plant and equipment is measured at cost or fair value less, where applicable, any accumulated depreciation and
any accumulated impairment losses.
Cost includes expenditure that is directly attributable to the acquisition of the asset. The cost of self constructed assets
includes the cost of materials and direct labour and any other costs directly attributable to bringing the asset to a working
condition for its intended use. Purchased software that is integral to the functionality of the related equipment is capitalised
as part of that equipment.
Subsequent costs are added to the carrying amount of an item of plant and equipment when that cost is incurred if it is
probable that the future economic benefits embodied with the item will flow to the Group and the cost of the item can be
measured reliably. All other costs are recognised in the profit or loss as an expense as incurred. The costs of the day to day
servicing of property, plant and equipment are recognised in profit or loss as incurred.
Freehold land and buildings are measured at revalued amounts, being the fair value at the date of the revaluation, less any
subsequent accumulated depreciation and any accumulated impairment losses. At each reporting date the carrying amount
of each asset is reviewed to ensure that it does not differ materially from the asset’s fair value at reporting date. Where
necessary, the asset is revalued to reflect its fair value.
Increases in the carrying amounts arising on revaluation of land and buildings are recognised in other comprehensive income
and accumulated in equity. To the extent that the increase reverses a decrease of the same asset previously recognised
in profit or loss, the increase is recognised in profit or loss. Decreases that offset previous increases of the same asset are
recognised in other comprehensive income; all other decreases are recognised in profit or loss.
Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the estimated useful
lives of the improvements.
Land is not depreciated. The depreciable amount of all other property, plant and equipment is depreciated using the straight
line method over their estimated useful lives commencing from the time the asset is held available for use, consistent with
the estimated consumption of the economic benefits embodied in the asset.
The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each balance date. No depreciation is
charged in the year of sale for all assets other than buildings in which case depreciation is charged to the earlier of the date
of classification to be held for sale or the date of sale.
Assets are assessed for impairment whenever events or circumstances arise that indicate the asset may be impaired. An
asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than
its estimated recoverable amount. Impairment losses in respect of individual assets are recognised immediately in profit
or loss unless the asset is measured at a revalued amount, in which case the impairment loss is treated as a revaluation
decrease and is recognised in other comprehensive income to the extent that it does not exceed the amount in the
revaluation surplus for the same asset.
Gains and losses on disposals are determined by comparing the net disposal proceeds with the carrying amount of the asset.
These are included in the profit or loss.
13
Radius Residential Care Interim Financial Statements 2023

$’000
Land and
Buildings
Motor
vehicles
Furniture,
fixtures and
fittings
Information
technology
Medical
equipment
Work in
progressTotal
UNAUDITED - SIX
MONTHS ENDED 30
SEPTEMBER 2022
Opening net book value 56,06629310,9992,1202894,07273,839
Additions
1
52,563 73 2,439168794,63059,951
Transfers2,079 — (1,299) — — (780) —
Disposals — (6)(7) — — — (13)
Depreciation(620)(62)(1,368)(437)(51) — (2,539)
Closing net book value 110,087 298 10,764 1,851 316 7,922 131,238
UNAUDITED - SIX
MONTHS ENDED 30
SEPTEMBER 2022
Cost (Land at valuation)111,1531,33634,5266,3388617,922162,135
Accumulated Depreciation(1,066)(1,038)(23,762)(4,487)(544) — (30,897)
Net book value 110,08729810,7641,8513167,922131,238
$’000
Land and
Buildings
Motor
vehicles
Furniture,
fixtures and
fittings
Information
technology
Medical
equipment
Work in
progressTotal
AUDITED - YEAR ENDED
31 MARCH 2022
Opening net book value18,32636111,3361,4732561,70733,459
Additions
1
37,641653,4041,1151343,12245,481
Transfers531
—
(516) 290
—
(757)(452)
Disposals
— —
(222) —
— —
(222)
Depreciation(432)(133)(3,003)(758)(101)
—
(4,427)
Closing net book value56,06629310,9992,1202894,07273,839
AUDITED - YEAR ENDED
31 MARCH 2022
Cost
2
56,5121,27734,6566,1707824,072103,469
Accumulated Depreciation(446)(984)(23,657)(4,050)(493)
—
(29,630)
Net book value56,06629310,9992,1202894,07273,839

1. On 5 August 2021, the Group acquired four properties previously leased from Ohaupo Holdings Limited for consideration of $31.4m. The
purchase was funded from the fully underwritten placement and issue of share capital to Ohaupo Holdings Limited, refer to note 3.1. Subsequently
on 1 November 2021, the Group acquired another property, a part of the Clare House business combination, refer to note 5.6 of the Group’s audited
consolidated financial statements for the year ended 31 March 2022. On 6 May 2022, the Group acquired four properties, previously leased from
UCG Investments Limited for consideration of $46.7m. The purchase was funded from bank borrowings, refer to note 3.3. Subsequently on 29
September 2022, the Group acquired another property as part of the Matamata business combination, refer to note 4.4.
2.Refer to next page for commentary on valuations as at 30 September 2022 and 31 March 2022 for land and buildings.


Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
14
Radius Residential Care Interim Financial Statements 2023

Valuations
Management assessed that freehold land and buildings had not experienced any significant and volatile changes in fair
value necessitating a revaluation as at 30 September 2022 (including the consideration of the impact of the COVID-19
pandemic). This assessment was informed by advice provided by the Group’s land and buildings Valuer, LVC Limited (LVC)
(who provides valuation services to the Group) who provided a valuation update letter confirming that the carrying amounts
of these freehold land and buildings did not differ materially from that which would be determined using fair value as at 31
March 2022 and 30 September 2022.
During the period ending 30 September 2022, a further five properties carried at $52,234k were purchased (four during
May 2022 and one during September 2022). The purchase prices paid were also informed by independent external
valuation reports from Colliers (four properties purchased during May 2022), and JLL (one property purchased during
September 2022).
As at the respective valuation dates:
• Colliers, included a clause that in light of the prevailing ongoing COVID-19 pandemic, current adverse macro and
micro economic conditions and adverse global events, they recommend their valuation be kept under frequent review
as valuation advice is likely to become outdated significantly quicker than is normally the case. Per the accepted
definition, the market value is concluded “”as at the valuation date”” and is based on events and evidence up to that
date. It reflects sentiment at that point in time and the value on the day; and
• JLL, have included a clause that their valuation is relevant at the date of preparation (being 20 October 2021, for
which the valuer has provided an update confirming the carrying amount does not differ materially from that which
would be determined using fair value as at 30 September 2022) and to the circumstances prevailing at that time.
However, within a changing economic environment experiencing fluctuations in interest rates, inflation levels, rents
and global economic circumstances, acceptable returns on investment may, as a consequence, be susceptible to
future variation.
Refer to note 3.2 of the Groups audited financial statements for the year ended 31 March 2022 for the valuation
uncertainty as at that date.
Key accounting estimates and judgements
Property measurements are categorised as Level 3 (31 March 2022: Level 3) of the fair value measurement hierarchy as the
fair value is determined using inputs that are unobservable.
Significant unobservable inputs
The significant unobservable input used in the fair value measurement of the Group’s land and buildings is the capitalisation
rate applied to earnings. A significant decrease/(increase) in the capitalisation rate would result in significantly higher/
(lower) fair value measurement.
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
15
Radius Residential Care Interim Financial Statements 2023

2.3. Refundable Occupation Right Agreements
Accounting policy
Refundable Occupation Right Agreements (ORAs) confer the right to occupy a retirement unit and are considered leases
under NZ IFRS 16 Leases.
A new resident is charged a refundable security deposit, on being issued the right to occupy one of the Group’s units, which
is refunded to the resident subject to a new ORA for the unit being issued to an incoming resident, net of any amount owing
to the Group. The Group has a legal right to set off any amounts owing to the Group by a resident against that resident’s
security deposit. Such amounts include management fees, rest home and hospital fees, service fees and village fees. As the
refundable occupation right is repayable to the resident upon vacating the unit (subject to a new ORA for the unit being
issued to an incoming resident), the fair value is equal to the face value, being the amount that can be refunded.
The right of residents to occupy the investment properties of the Group is protected by the Statutory Supervisor restricting
the ability of the Group to fully control these assets without undergoing a consultation process with all affected parties.
A resident is charged a village contribution fee in consideration for the right to occupy one of the Group’s units:
• for Windsor Lifestyle Estate Limited, to a maximum of 30% of the entry payment;
• for Elloughton Grange Village Limited, to a maximum of 30% of the entry payment;
• for Clare House Village Limited, to a maximum of 30% of the entry payment;
• for Matamata Retirement Village Limited, to a maximum of 25% of the entry payment.
The village contribution is payable by the resident on termination of the ORA. Village contribution is recognised as deferred
management fees. The management fee receivable is recognised in accordance with the terms of the resident’s ORA.
The deferred management fee represents the difference between the management fees receivable under the ORA and the
portion of the management fee accrued which is recognised on a straight-line basis over the longer of the term specified in
a resident’s ORA or the average expected occupancy for the relevant accommodation i.e., 8 years for villas and 3 to 4 years
for serviced apartments and villas (2022: 8 years for villas and 3 years for serviced apartments).
The management fee recognised in the Consolidated Statement of Comprehensive Income represents income earned in line
with the average expected occupancy.
As a refundable occupation license payment is repayable to the resident upon termination (subject to a new ORA being
issued to an incoming resident), the fair value is equal to the face value, being the amount that can be demanded.
The expected maturity of the refundable obligations to residents is beyond 12 months.
$’000NOTES
Unaudited
30-Sep-22
Audited
31-Mar-22
REFUNDABLE OCCUPATION RIGHT AGREEMENTS
Refundable occupation license payments44,82934,316
Less: Management fee receivable (per contract)
(6,302)(5,700)
38,52728,616
RECONCILIATION OF MANAGEMENT FEES RECOGNISED
UNDER NZ IFRS AND PER ORA
Management fee receivable (per contract)(6,302)(5,700)
Deferred management fee2.13,3871,553
Management fee receivable (per NZ IFRS)(2,915)(4,147)
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
16
Radius Residential Care Interim Financial Statements 2023

2.4. Leases
Accounting policy
At the commencement date of a lease (other than leases of 12-months or less and leases of low value assets), the Group
recognises a lease asset representing its right to use the underlying asset and a lease liability representing its obligation to
make lease payments.
Right-of-use assets
Right-of-use assets are initially recognised at cost, comprising the amount of the initial measurement of the lease liability,
any lease payments made at or before the commencement date of the lease, less any lease incentives received, any initial
direct costs incurred by the Group, and an estimate of costs to be incurred by the Group in dismantling and removing the
underlying asset, restoring the site on which it is located or restoring the underlying asset to the condition required by the
terms and conditions of the lease.
Subsequent to initial recognition, lease assets are measured at cost (adjusted for any remeasurement of the associated
lease liability), less accumulated depreciation and any accumulated impairment loss. Right-of-use assets are assessed
for impairment whenever events or circumstances arise that indicate the asset may be impaired. An asset’s carrying
amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its
estimated recoverable amount.
Right-of-use assets are depreciated over the shorter of the lease term and the estimated useful life of the underlying asset,
consistent with the estimated consumption of the economic benefits embodied in the underlying asset.
Lease liabilities
Lease liabilities are initially recognised at the present value of the future lease payments (i.e., the lease payments that are
unpaid at the commencement date of the lease). These lease payments are discounted using the interest rate implicit in the
lease, if that rate can be readily determined, or otherwise using the Group’s incremental borrowing rate.
Subsequent to initial recognition, the lease liability is measured at amortised cost using the effective interest rate
method. Interest expense on lease liabilities is recognised in profit or loss (as a component of finance costs). Lease
liabilities are remeasured to reflect changes to lease terms, changes to lease payments and any lease modifications not
accounted for as separate leases.
Variable lease payments not included in the measurement of lease liabilities are recognised as an expense when incurred.
Leases of 12-months or less and leases of low value assets
Lease payments made in relation to leases of 12-months or less and leases of low value assets (for which a lease asset and a
lease liability has not been recognised) are recognised as an expense on a straight line basis over the lease term.
Key accounting estimates and judgements
Extension and termination options are included in a number of leases across the Group. These terms are used to maximise
the operational flexibility of contracts. The majority of extension and termination options are exercisable only by the Group
and not by the respective lessor. In determining the lease term management considers all facts and circumstances that
lead to an economic incentive to exercise an extension option or not exercise a termination option. Extension options or
periods after termination options are only included in the lease term if the lease is reasonably certain to be exercised. This
assessment is reviewed if a significant event or significant change in circumstances occurs which affects this assessment and
that is within the Group’s control. All extension options have been assumed for the calculations of the Group’s lease liabilities.
The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined,
which is generally the case for leases in the Group, the lessee’s incremental borrowing rate is used, being the rate that the
individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use
asset in a similar economic environment with similar terms, security and conditions. The weighted average incremental
borrowing rates applied by the Group is 5% (31 March 2022: 5%). No new leases were entered into during the period (31
March 2022: none) and four leases were cancelled as these properties were acquired by the Group during the period (31
March 2022: four leases were cancelled).
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
17
Radius Residential Care Interim Financial Statements 2023

Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
$’000
Unaudited
30-Sep-22
Audited
31-Mar-22
(A) RIGHT-OF-USE ASSETS
Land and Buildings under lease126,763152,980
Accumulated depreciation(15,765)(19,068)
Total carrying amount of right-of-use assets110,998133,912
RECONCILIATIONS
Reconciliation of the carrying amount of lease assets at the beginning and end of
the financial year/period:
Land and Buildings
Opening carrying amount133,912 177,170
Depreciation(2,449)(6,767)
Remeasurements 6,623 794
Disposals(27,088)(37,285)
Closing carrying amount110,998 133,912
On 6 May 2022, the Group acquired four properties, previously leased from UCG Investments Limited, refer notes 2.2 and
3.1. On acquisition, the disposal of the related right-of-use assets and lease liabilities resulted in a gain on modification of
$1.781k being recognised upon the cancelling lease and derecognition of the related Lease liability and Right of Use asset,
(31 March 2022: a gain on modification of $1.403k relating to aquistion of four properties previously leased from Ohaupo
Holding Limited that were purchased on 5 August 2021, refer notes 2.2 and 3.1).
(B) LEASE LIABILITIES
Current
Land and Buildings 2,4274,023
Non-current
Land and Buildings
116,593138,520
119,020142,543
$’000
Unaudited
six months
30-Sep-22
Unaudited
six months
30-Sep-21
(C) LEASE EXPENSES AND CASH FLOWS
Interest expense on lease liabilities3,046 4,169
Depreciation expense on right-of-use assets2,449 3,546
Cash outflow in relation to leases4,290 6,118
Gain on acquisition of leased property assets1,781 1,403
$’000
Unaudited
30-Sep-22
Audited
31-Mar-22
(D) MATURITY ANALYSIS - CONTRACTUAL UNDISCOUNTED CASH FLOWS
- Not later than 1 year8,25210,872
- Later than 1 year and not later than 5 years33,14043,620
- Later than 5 years
185,484203,395
226,876257,887
18
Radius Residential Care Interim Financial Statements 2023

3. SHAREHOLDER EQUITY AND FUNDING
3.1. Shareholder Equity and Reserves
Accounting policy
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares are shown in equity
as a deduction, net of tax.
The grant date fair value of equity settled share-based payment arrangements granted to employees is recognised as an
expense, with a corresponding increase in equity.
Shares issued to Main Family Trust
On 28 September 2022, allotment of 15,328,019 ordinary shares at $0.33 per to the trustees of the Main Family Trust No. 2 as
part consideration for the purchase price payable for the acquisition of Matamata Country Lodge business combination as
described in note 4.4.
The share issue was authorised in accordance with the Directors’ resolution dated 30 August 2022.
Ohaupo Holdings Limited
On 5 August 2021, allotment of 19,230,768 ordinary shares at $0.52 to Ohaupo Holdings Limited’s nominees as part
consideration for the purchase price payable for the acquisition of land and buildings from Ohaupo Holdings Limited as
described in note 2.2.
The share issue was authorised in accordance with the Shareholders’ resolution dated 23 July 2021.
Fully underwritten placement
No shares were issued under placement during the period to 30 September 2022.
On 27 July 2021 and 3 August 2021, 34,062,037 and 23,630,270 ordinary shares were issued under a placement, at a final
price of $0.52 per share (being $0.02 above the underwritten floor price of $0.50).
The share issue was authorised in accordance with the Shareholders’ resolution dated 23 July 2021.
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
NOTES
Unaudited
30-Sep-22
Audited
31-Mar-22
Shares$’000Shares$’000
SHARE CAPITAL
Authorised, issued and fully paid up capital284,571,10856,732269,243,08951,732
Total contributed equity284,571,10856,732269,243,08951,732
MOVEMENTS
Opening balance of ordinary shares issued269,243,08951,732176,495,0005,932
Shares issued to Main Family Trust
4.4
15,328,0195,000 —
—
Fully underwritten placement
— —
57,692,307 30,000
Shares issued to Ohaupo Holdings Limited
— —
19,230,768 10,000
Retail offer
— —
15,825,014 8,229
Share issuance costs
— — —
(2,429)
Closing balance of ordinary shares issued284,571,10856,732269,243,08951,732
All ordinary shares are authorised and rank equally with one vote attached to each fully paid ordinary share. The shares have
no par value. The Group has not incurred any additional transaction costs in issuing shares during the period. (31 March 2022:
$2.4m of transaction costs were incurred when issuing shares).
19
Radius Residential Care Interim Financial Statements 2023

Retail offer
On 13 August 2021, allotment of 15,825,014 ordinary shares at $0.52 under a retail offer.
The share issue was authorised in accordance with the Shareholders’ resolution dated 23 July 2021.
Dividends
Dividend distributions to shareholders are recognised as a liability in the period in which dividends are declared. On 30
May 2022 a gross dividend of 0.76 cents per share (fully imputed) was declared and was paid on 22 June 2022. On 25
November 2022 a gross dividend of 0.70 cents per share (fully imputed) was declared and will be paid on 13 January
2023. (2022: On 29 November 2021 a gross dividend of 0.70 cents per share (fully imputed) was declared and was paid on
23 December 2021.)
Asset Revaluation Reserve
The asset revaluation reserve is used to record the revaluation of freehold land and buildings.
Other reserve
Other reserve is used to record the reserves arising in relation to share based payments by the Group (refer note 4.3).
3.2. Earnings per share
Basic and diluted
Basic earnings per share is calculated by dividing the profit after tax of the Group by the weighted average number
of ordinary shares outstanding during the period. Diluted earnings per share is calculated by adjusting the weighted
average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. As at 30
September 2022, there were no shares with a dilutive effect (2022: none) and therefore basic and diluted earnings per share
were the same.
Unaudited
Six Months
30-Sep-22
Unaudited
Six Months
30-Sep-21
Profit after tax (‘000)1,7241,334
Weighted average number of ordinary shares outstanding ('000s)269,411207,025
Cents per share 0.64 0.64
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
Radius Matamata Country Lodge
20
Radius Residential Care Interim Financial Statements 2023

3.3. Borrowings
Accounting policy
Borrowings are initially recognised at fair value, including transaction costs incurred. Borrowings are subsequently measured
at amortised cost. Any difference between the proceeds (net of transaction costs) and the repayment amount is recognised in
the Consolidated Statement of Comprehensive Income over the period of the borrowings, using the effective interest method.
Specific borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are
assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost
of those assets, until such a time as the assets are substantially ready for their intended use. Other borrowing costs are
recognised in the Consolidated Statement of Comprehensive Income in the period in which they are incurred. The borrowing
costs capitalised during the period was $nil (31 March 2022: $nil).
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
NOTES
Unaudited
30-Sep-22
Audited
31-Mar-22
SECURED LIABILITIES
Current
Bank Loans 23,000 —
Vendor Loan4.2 11,518 —
Non-current
Bank Loans
61,02030,000
95,53830,000
Terms and conditions and assets pledged as security
Current
$’000
Non-current
$’000
Facility Limit
$’000
Effective
Interest rate
%Expiry date
UNAUDITED AS AT
30 SEPTEMBER 2022
Committed Money Market - A—20,00020,0004.63%1 November 2026
Committed Money Market - B
1
15,000 —15,0004.27%6 April 2023
Committed Money Market - B—2,8455,0004.27%1 November 2026
Committed Money Market - C—14,50020,0003.98%1 November 2026
Committed Money Market - D—23,67523,6805.68%6 May 2027
Committed Money Market - E
1
8,000—8,0005.68%6 April 2023
Vendor Loan
11,518
—
11,518
8%28 March 2023
34,51861,020103,198
1. Subsequent to reporting date, on 6 October 2022, the expiry date was extended by a further six month period to 6 April 2023. On the same date, the E facility’s
expiry date was also extended by a further six month period to 6 April 2023.
AUDITED AS AT 31 MARCH 2022
Committed Money Market - A
—
15,50020,0003.30%1 November 2026
Committed Money Market - B
—
14,50020,0002.80%1 November 2026
Committed Money Market - C
——
20,000
1 November 2026
—
30,00060,000
21
Radius Residential Care Interim Financial Statements 2023

Vendor Loan
The vendor loan is deferred consideration payable to the Main Family Trust as a result of the Matamata business
acquisition (refer note 4.4). The amount represents a payable of $11,518k bearing interest at 8% per annum. The maturity
date is 31 March 2023.
Security
The bank loans of the Group are guaranteed by certain Group entities and secured by mortgages over the Group’s care
centre freehold land and buildings and rank second behind the Statutory Supervisors when the land and buildings are
classified as investment property and investment property under development.
As at 30 September 2022 the balance of the bank loans over which the properties are held as security is $84,020k
(31 March 2022: $30,000k).
Other
The Group has a Corporate Banking Overdraft Facility Agreement with ASB Bank Limited for $2,000k (31 March 2022:
$2,000k) that has an expiry date on 31 March 2049. This facility bears interest at an effective interest rate of 6.24% (31 March
2022: 4.24%) and is secured over the assets of the Group and guaranteed by certain Group entities. At reporting date this
overdraft facility was not drawn (31 March 2022: $nil).
Financing arrangements
Under the Group’s bank loan arrangements with ASB Bank Limited, the Group must comply with externally imposed banking
covenants. These covenants are tested and reported to the ASB each quarter. During the six months ended 30 September
2022, the Group complied with all externally imposed banking covenant requirements to which it is subject (31 March 2022:
complied with all). The Group has agreed with its banks that the calculation of Adjusted EBITDA (Earnings Before Interest,
Tax, Depreciation and Amortisation) and Net Interest, for the purposes of the financial covenants, shall continue to be based
on the accounting treatment in use before the introduction and adoption of NZ IFRS 16 Leases.
On 29 October 2021 the Group entered into a new $62 million 5 year senior facility agreement with its banking partner
ASB. The agreement is structured to provide:
• a $20 million facility to fund existing developments and for general corporate purposes;
• a $20 million development finance facility to support new and existing developments; and
• a $20 million acquisition funding facility to support new acquisitions.
On 29 March 2022 the Group extended the facility by $31.6 million, 5 year senior facility agreement with its banking partner
ASB. The agreement is structured to provide:
• a $23.675 million acquisition funding facility to support new acquisitions; and
• an $8 million acquisition bridging funding facility to support new acquisitions.
Subsequent to reporting date, on 6 October 2022, a six month extension was granted by ASB relating to $23m of finance
facilities (being the current portions of the Committed Money Market B and E facilities above) that were originally put in
place to enable settlement of the four previously leased land and buildings property assets from UCG Investments Limited
(refer to note 2.2 and 2.4). These finance facilities now need to be repaid on or before 6 April 2023.

Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
22
Radius Residential Care Interim Financial Statements 2023

4. OTHER DISCLOSURE
4.1. Income Tax
Accounting policy
Current income tax expense or credit is the tax payable on the current period’s taxable income based on the applicable
income tax rate adjusted by changes in deferred tax assets and liabilities.
Deferred tax assets and liabilities are recognised for temporary differences at the applicable tax rates when the assets are
expected to be recovered or liabilities are settled. Deferred tax liabilities are not recognised if they arise from the initial
recognition of goodwill. Deferred income tax is also not recognised if it arises from the initial recognition of an asset or
liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor
taxable profit or loss.
Deferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable that
future taxable amounts will be available to utilise those temporary differences and losses.
Current and deferred tax balances attributable to amounts recognised directly in equity are also recognised
directly in equity.
Key accounting estimates and judgements
Deferred tax on Investment Property
Deferred tax on investment property is assessed on the basis that the asset value will be realised through use
(“Held for Use”).
An initial recognition exemption has been applied to newly developed village sites in accordance with NZ IAS 12
Income Taxes.
The Group’s Refundable ORAs comprise two distinct cash flows (being an ORA deposit upon entering the unit and the
refund of this deposit upon exit). In determining the tax base of investment property, the Group considered whether taxable
cash flows are received at the end of the ORA period (i.e., upon refund of the ORA deposit by way of set off on exit by a
resident) or at the beginning of the ORA period (i.e., at time of the receipt of the ORA deposit). The Group has carefully
evaluated all the available information and considers it appropriate to recognise and measure the tax base and associated
deferred tax based on the taxable cash flows being receivable at the end of the ORA period as this best represents the
Group’s contractual entitlement.
In calculating deferred tax under the Held for Use methodology, the Group has made significant judgements to determine
taxable temporary differences. The carrying value of the Group’s investment property is determined on a discounted cash
flow basis and includes cash flows that are both taxable and non-taxable in the future. The Group has recognised deferred
tax on the cash flows with a future tax consequence being DMF as provided by the valuers, to the extent that it arises from
depreciable components (i.e., buildings) of the investment property. The Group uses the valuers’ valuations to estimate the
apportionment of cash flows arising from the depreciable (i.e., buildings) and non-depreciable components (i.e., land).
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
Radius St Helenas
23
Radius Residential Care Interim Financial Statements 2023

$’000
Unaudited
Six Months
30-Sep-22
Unaudited
Six Months
30-Sep-21
(A) COMPONENTS OF TAX EXPENSE
Current tax113329
Deferred tax
351(1)
464328
(B) INCOME TAX RECONCILIATION
The prima facie tax payable on profit before tax is reconciled to the income tax
expense as follows:
Prima facie income tax payable on profit before tax at 28.0%613465
Permanent differences(217)180
Over provision for income tax in prior year
3—
Other65(317)
Income tax expense attributable to profit464328
$’000
Unaudited
30-Sep-22
Audited
31-Mar-22
(C) DEFERRED TAX
Deferred tax relates to the following:
Non-current asset
Deferred tax assets
The balance comprises:
Lease liabilities33,32639,912
Provisions2,1702,444
Deferred management fee income
1,3331,025
36,82943,381
Deferred tax liabilities
The balance comprises:
Property, plant and equipment2,3162,000
Right-of-use assets
31,07937,496
33,39539,496
Net deferred tax assets3,4343,885
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
24
Radius Residential Care Interim Financial Statements 2023

$’000
Unaudited
Six Months
30-Sep-22
Unaudited
Six Months
30-Sep-21
(D) DEFERRED INCOME TAX REVENUE COMPRISES:
Through profit / (loss) included in income tax expense
Decrease/ (Increase) in deferred tax assets6,55211,240
Decrease in deferred tax liabilities(6,101)(11,241)
Increase in deferred tax liabilities as a result of acquistion
(100) —
351(1)
Through other comprehensive income
Increase in deferred tax liabilities
— —
Through other comprehensive income included in revaluation of
property, plant and equipment
—
—
Decrease / (Increase) in deferred tax liabilities351(1)
Deferred tax assets are recognised for deductible temporary differences as
Management considers that it is probable that future taxable profits will be available
to utilise those temporary differences.
$’000
Unaudited
30-Sep-22
Audited
31-Mar-22
(E) IMPUTATION CREDITS AVAILABLE FOR USE IN SUBSEQUENT PERIODS
Balance at the beginning of the year / period 6,735 5,549
Dividends paid(576)(963)
New Zealand tax payments, net of refunds 612 2149
Other debits — —
Balance at the end of the year / period 6,771 6,735
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
Radius Fulton
25
Radius Residential Care Interim Financial Statements 2023

Ownership interests and voting rights
Name of EntityPrincipal Activities
Unaudited
30-Sep-22
Audited
31-Mar-22
Class of
Shares
Radius Arran Court
Limited
Lessee entity for Radius Arran
Court facility
100%100%Ordinary
Windsor Lifestyle Estate
Limited
Operating entity for Windsor
retirement village
100%100%Ordinary
Radius Care Limited
(non-trading)
Dormant100%100%Ordinary
Elloughton Grange Village
Limited
Operating entity for Elloughton
retirement village
100%100%Ordinary
Radius Care Holdings
Limited
Property owning entity for St
Helenas, Thornleigh Park, Lexham
Park, Elloughton Gardens,
Heatherlea, Windsor Court, Taupaki
Gables, Peppertree, Arran Court, St
Joans and Fulton facilities
100%100%Ordinary
Clare House Retirement
Village Limited
Operating entity for Clare House
Retirement Village and property
owning entity for the Clare House
Care facility
100%100%Ordinary
Clare House Care Limited
Operating entity for Clare House
Care
100%100%Ordinary
Matamata Retirement
Village Limited
Operating entity for Matamata
retirement village
100%NilOrdinary
Radius SPV Limited
Property owning entity for
Matamata Country Lodge and
Matamata Retirement Village.
100%NilOrdinary
All subsidiaries are incorporated in New Zealand and have a balance date of 31 March.
Matamata Retirement Village Limited and Radius SPV Limited were incorporated by the Group during the period.

4.2. Related Party Transactions
Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variable
returns from its involvement with the entity and has the ability to affect those returns through its power over the entity.
The financial statements of subsidiaries are prepared for the same reporting period as the parent entity, using consistent
accounting policies. Adjustments are made to bring into line any dissimilar accounting policies which may exist.
All intercompany transactions and balances are eliminated. The subsidiaries are consolidated from the date the Group gains
control until the date on which control ceases.
Subsidiaries
The following are the Group’s subsidiaries
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
26
Radius Residential Care Interim Financial Statements 2023

Key Management Personnel Compensation and Other Related Parties
Key management personnel are all executives with the authority for the strategic direction and
management of the Group.
Related PartyRelationship
Brien CreeDirector and Ultimate Shareholder (via Wave Rider Holdings Limited)
Duncan CookDirector and Shareholder
Bret JacksonDirector and Ultimate Shareholder (via Takatimu Investments Limited)
Timothy SumnerDirector (until 25 February 2022) and Shareholder
Mary Gardiner
Director
Hamish Stevens
Director and Shareholder
Wave Rider Holdings LimitedShareholder
Takatimu Investments LimitedShareholder
Cibus Catering Limited
Common Director (Brien Cree)
Valhalla Capital LimitedCommon Director (Brien Cree)
Tom WilsonShareholder
Time Capital NZ LimitedDirector (Tom Wilson)
Ohaupo Holdings LimitedCommon Shareholder - (Neil Foster)
Neil FosterShareholder
Warehouse Storage LimitedCommon Shareholder - (Neil Foster)
Main Family TrustShareholder
$’000
Unaudited
Six Months
30-Sep-22
Unaudited
Six Months
30-Sep-21
Directors' remuneration and expenses208 251
Dividends to director related entities559 806
Key Management personnel salaries and other short term employee benefits1,232 1,209
Key Management personnel dividends
6 5
2,005 2,271
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
27
Radius Residential Care Interim Financial Statements 2023

Other related parties
$’000NOTES
Unaudited
30-Sep-22
Audited
31-Mar-22
Trade creditors
- Cibus Catering Limited
58654
58654
Trade debtors
- Cibus Catering Limited
1014
1014
Borrowings
- Main Family Trust3.311,518—
Related party receivables and payables are unsecured, non-interest bearing and repayable within 30 days of invoice
date. Terms and conditions of the related party borrowings are described in note 3.3.
$’000
Unaudited
Six Months
30-Sep-22
Unaudited
Six Months
30-Sep-21
Catering services
- Cibus Catering Limited 3,418 2,763
Consulting fees
- Time Capital NZ Limited 51 50
- Tim Sumner — 27
- Duncan Cook 395 150
Personal Guarantee fees
- Brien Cree 83 85
Rent Paid
- Warehouse Storage Limited 395 —
- Ohaupo Holdings Limited— 770
Purchase of property, plant and equipment
- Ohaupo Holdings Limited— 31,400
- Additional fees paid to directors associated with issue of shares— 60
Business acquisition
- Main Family Trust4.4 17,018 —
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
28
Radius Residential Care Interim Financial Statements 2023

Assignment of an agreement for the purchase of land from a Director
Brien Cree (Director) and the Group are party to an agreement (“the Assignment Agreement”), whereby Brien Cree has
agreed to assign to the Group his rights under an agreement for sale and purchase of real estate (“Land SPA”), to acquire
a circa 4.3 hectare development property at Main North Road, Belfast, Christchurch (‘the development property’) from an
unrelated third party.
The purchase price under the Land SPA is $5.8m, of which a non-refundable deposit of $300k had already been paid by
Brien Cree during the 2021 financial year. On the date of settlement, being 16 April 2021, the Group paid the remaining
consideration of $400k, net of the non-refundable deposit paid during the 2021 financial year, to Brien Cree, consistent with
the Assignment Agreement. To date the Group has incurred $3,191k of development costs in regards to this project .
A condition of the Assignment Agreement was approval of the transaction by the Board of the Group by 2 April 2021.
On 2 April 2021 the Board (excluding Brien Cree as an interested director) exercised its right to approve the Assignment
Agreement and the Group now holds the rights to acquire the development property.
The Board approved the Assignment Agreement on 2 April 2021 on the basis the Group had obtained:
• resource consent and funding for the development of an integrated aged care facility and retirement village on the
property; and
• an independent valuation had confirmed that the property’s fair value after resource consent exceeded the purchase price
of the property (including the additional $400k consideration payable to Brien Cree).
The balance of the purchase price under the land sale and purchase agreement amounting to $5.5m is payable to the third
party vendor on settlement, which will be completed when the title of the property is issued. It is currently expected that
title will be issued in late 2023.
4.3. Long Term Incentive (LTI) Plan
On 18 July 2022 the Board approved a new Long Term Incentive Scheme for its senior executives (“LTI Scheme”).
The LTI Scheme has been established to:
• provide an incentive to key executives to commit to Radius for the long term; and
• align these executives’ interests with the interests of Radius’ shareholders.
Participants in the Scheme will be granted Performance Share Rights (“PSRs”) from time to time which will, on vesting,
convert into an entitlement to receive ordinary shares. Vesting will depend on achievement of certain conditions relating to
Radius share price.
PSRs become exercisable if the holder remains employed on the vesting date and conditions are met over the period from
the commencement date to the measurement date, and in certain other exceptional circumstances.
On becoming exercisable, each PSR will entitle the holder to receive one fully paid ordinary share in Radius Care Limited, less
an adjustment for tax paid on the holder’s behalf for the benefit received under the Scheme.
The Share Rights have a nil exercise price.
Performance Hurdles
All PSRs will vest into ordinary shares in Radius if the 10-day volume weighted average price (“VWAP”), for the 10
trading days immediately prior to (and not including) 18 July 2025, is equal to or greater than $1.081. This is three times
the 10-day VWAP of 18 July 2022 (“Base Price”).
If the 10-day VWAP is between $1.027 and $1.081 (being 95% and 100% of three times the Base Price), the Radius Board
has discretion to scale the number of a Participant’s PSRs that will vest.
Recognition and Measurement
• On 18 July 2022, 4,164,844 share rights were issued for nil consideration and a nil exercise price in
relation to the LTI Scheme.
• On 15 August 2022, 1,109,824 share rights were issued for nil consideration and a nil exercise price in
relation to the LTI Scheme.
There were no share rights that were forfeited, exercised or expired during the period. The fair value of the share rights were
determined using the Monte Carlo valuation approach.
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
29
Radius Residential Care Interim Financial Statements 2023

4.4. Matamata Acquisition
a) Summary of acquisition
On 29 September 2022 the Company acquired 100% of the assets and liabilities of Matamata Country Lodge Limited and
Matamata Retirement Village Limited, provider of rest home and hospital care for the elderly and a retirement village.
Since the acquisition was one day before reporting date, the initial accounting for the business combination is yet to be
finalised and the amounts reported are provisional. The following are the provisional details of the purchase consideration,
the net assets acquired and gain on business acquisition:
$’000
30-Sep-22
Fair Values
Purchase consideration (refer to (b) below):
Cash Paid500
Deferred consideration - vendor loan11,518
Ordinary share capital 15,328,019 share at 32.62 cents per share 5,000
Total17,018
The assets and liabilities recognised as a result of the acquisition are as follows:
Property, plant and equipment 6,926
Investment properties 23,311
Deferred tax asset / (liability)(100)
Provisions(82)
Refundable Occupation Rights Agreements(10,337)
Deferred management fee(1,773)
Total 17,945
Gain on business acquisition(927)
There were no acquisitions in the six months ended 30 September 2021.
Revenue and profit contribution
The acquired business contributed revenues of $30k and profit before tax of $0k to the group for the period from 29
September 2022 to 30 September 2022.
If the acquisition had occurred on 1 April 2022, consolidated pro-forma revenue and profit before tax for the six months
ended 30 September 2022 would have been $3.6m and $0.27m respectively. These amounts have been calculated using
the subsidiaries’ results and adjusting them for:
• differences in the accounting policies between the group and the subsidiaries, and
• the additional depreciation and amortisation that would have been charged assuming the fair value adjustments to
property, plant and equipment had applied from 1 April 2022, together with the consequential tax effects.
b) Purchase consideration – cash outflow
$’000
Six Months
30-Sep-22
Fair Values
Outflow of cash to acquire subsidiaries:
Cash500
Net outflow of cash – investing activities500
The business combination resulted in a gain on business acquisition as the fair value of assets acquired and liabilities
assumed exceeded the total of the fair value of consideration paid.
Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
30
Radius Residential Care Interim Financial Statements 2023

4.5. Contingent Liabilities
There has been no change to contingent liabilities disclosed in the 2022 annual financial statements.
4.6. Commitments
As at 30 September 2022 there were Capital Commitments of $2,029k relating to construction contracts (31 March 2022:
$4m relating to construction contacts).
There are no significant unrecognised contractual obligations entered into for future repairs and maintenance at
reporting date.
4.7. Events subsequent to reporting date
Interim Dividend
See note 3.1.
Extension of banking arrangements
On 6 October 2022, a six month extension was granted by ASB relating to $23m of bridging finance facilities (refer note 3.3)
that were originally put in place to enable settlement of the land and building acquisitions from UCG Investments Limited
(refer to note 2.2). These finance facilities now need to be repaid on or before 6 April 2023.
Other
There has been no other matter or circumstance which has arisen since 30 September 2022 that has significantly affected or
may significantly affect:
a. the operations, in financial years subsequent to 30 September 2022, of the Group or
b. the results of those operations or
c. the state of affairs, in financial years subsequent to 30 September 2022, of the Group.

Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2022
31
Radius Residential Care Interim Financial Statements 2023

32
Level 9, 45 Queen Street, Auckland 1010
PO Box 3899, Auckland 1140
New Zealand
T:+64 9 309 0463
F:+64 9 309 4544
E:auckland@bakertillysr.nz
W:www.bakertillysr.nz
INDEPENDENT AUDITOR’S REVIEW REPORT
To the Shareholders of Radius Residential Care Limited
Report on the review of the condensed consolidated interim financial statements
Conclusion

We have reviewed the condensed consolidated interim financial statements of Radius Residential Care Limited and
its subsidiaries (together "the Group") on pages 3 to 31, which comprise the condensed consolidated interim
statement of financial position at 30 September 2022, the condensed consolidated interim statement of
comprehensive income, condensed consolidated interim statement of changes in equity and condensed
consolidated interim statement of cash flows for the period then ended, and the notes to the condensed consolidated
interim financial statements that include a summary of significant accounting policies and other explanatory
information.

Based on our review, nothing has come to our attention that causes us to believe that these condensed consolidated
interim financial statements of the Group do not present fairly, in all material respects, the financial position of the
Group as at 30 September 2022, and of its financial performance and its cash flows for the six-months ended on that
date, in accordance with in accordance with New Zealand Equivalent to International Accounting Standard 34: Interim
Financial Reporting (‘NZ IAS 34’) and International Accounting Standard 34: Interim Financial Reporting (‘IAS 34’).

This report is made solely to the Shareholders of Radius Residential Care Limited. Our review work has been
undertaken so that we might state those matters which we are required to state to them in our review report and for
no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other
than Radius Residential Care Limited and the Shareholders of Radius Residential Care Limited, for our review
procedures, for this report, or for the conclusions we have formed.


Basis for Conclusion
We conducted our review in accordance with NZ SRE 2410 (Revised) Review of Financial Statements Performed
by the Independent Auditor of the Entity. As the auditor of the Group, NZ SRE 2410 (Revised) requires that we
comply with the ethical requirements relevant to the audit of the annual financial statements and we have
fulfilled our other ethical responsibilities in accordance with these ethical requirements.

Other than in our capacity as auditorand provider of other assurance services, our firm carries out other
assignments for the Group in the area of taxation compliance services. The firm has no other interest in the
Group. The provision of these services has not impaired our independence as auditors of the Group.

32
Level 9, 45 Queen Street, Auckland 1010
PO Box 3899, Auckland 1140
New Zealand
T:+64 9 309 0463
F:+64 9 309 4544
E:auckland@bakertillysr.nz
W:www.bakertillysr.nz
INDEPENDENT AUDITOR’S REVIEW REPORT
To the Shareholders of Radius Residential Care Limited
Report on the review of the condensed consolidated interim financial statements
Conclusion

We have reviewed the condensed consolidated interim financial statements of Radius Residential Care Limited and
its subsidiaries (together "the Group") on pages 3 to 31, which comprise the condensed consolidated interim
statement of financial position at 30 September 2022, the condensed consolidated interim statement of
comprehensive income, condensed consolidated interim statement of changes in equity and condensed
consolidated interim statement of cash flows for the period then ended, and the notes to the condensed consolidated
interim financial statements that include a summary of significant accounting policies and other explanatory
information.

Based on our review, nothing has come to our attention that causes us to believe that these condensed consolidated
interim financial statements of the Group do not present fairly, in all material respects, the financial position of the
Group as at 30 September 2022, and of its financial performance and its cash flows for the six-months ended on that
date, in accordance with in accordance with New Zealand Equivalent to International Accounting Standard 34: Interim
Financial Reporting (‘NZ IAS 34’) and International Accounting Standard 34: Interim Financial Reporting (‘IAS 34’).

This report is made solely to the Shareholders of Radius Residential Care Limited. Our review work has been
undertaken so that we might state those matters which we are required to state to them in our review report and for
no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other
than Radius Residential Care Limited and the Shareholders of Radius Residential Care Limited, for our review
procedures, for this report, or for the conclusions we have formed.


Basis for Conclusion
We conducted our review in accordance with NZ SRE 2410 (Revised) Review of Financial Statements Performed
by the Independent Auditor of the Entity. As the auditor of the Group, NZ SRE 2410 (Revised) requires that we
comply with the ethical requirements relevant to the audit of the annual financial statements and we have
fulfilled our other ethical responsibilities in accordance with these ethical requirements.

Other than in our capacity as auditorand provider of other assurance services, our firm carries out other
assignments for the Group in the area of taxation compliance services. The firm has no other interest in the
Group. The provision of these services has not impaired our independence as auditors of the Group.


33
Emphasis of Matter – Valuation of Investment Properties and Freehold Land and Buildings
We draw attention to Note 2.1 and 2.2 of the condensed consolidated interim financial statements, which describes
the Group’s independent external property valuers have included a valuation uncertainty clause in their reports as a
result of the ongoing COVID-19 pandemic, unfavourable macro and micro economic conditions and adverse global
events as at valuation date. These included rapidly rising interest rates and inflation, skill shortages and the flow on
effects from the conflict between Ukraine and Russia which is having a significant impact on energy and financial
markets across the globe. Therefore, less certainty and a higher degree of caution, should be attached to the point
estimate valuation. This represents an increase in the significant estimation uncertainty in the valuation of investment
properties and freehold land and buildings. Our conclusion is not modified in respect of this matter.

Directors’ Responsibilities

The Directors are responsible, on behalf of the Group, for the preparation of these condensed consolidated interim
financial statements in accordance with generally accepted accounting practice in New Zealand that give a fair
presentation of the matters to which they relate, and for such internal control as the Directors determine is necessary
to enable the preparation of condensed consolidated interim financial statements that are free from material
misstatement, whether due to fraud or error.

Auditor's Responsibilities
Our responsibility is to express a conclusion on the condensed consolidated interim financial statements based on
our review. NZ SRE 2410 (Revised) requires us to conclude whether anything has come to our attention that causes
us to believe that the interim financial statements, taken as a whole, are not prepared in all material respects, in
accordance with NZ IAS 34 and IAS 34.

A review of condensed consolidated interim financial statements in accordance with NZ SRE 2410 (Revised) is a
limited assurance engagement. The auditor performs procedures, consisting of making enquiries, primarily of
persons responsible for financial and accounting matters, and applying analytical and other review procedures.

The procedures performed in a review are substantially less than those performed in an audit conducted in
accordance with International Standards on Auditing (New Zealand) and consequently does not enable us to obtain
assurance that we might identify in an audit. Accordingly, we do not express an audit opinion on the condensed
consolidated interim financial statements.

Matters Relating to the Electronic Presentation of the Condensed Consolidated Interim Financial
Statements
This review report relates to the condensed consolidated interim financial statements of the Group for the six-
month period ended 30 September 2022 included on the Group’s website. The Directors of the Group are
responsible for the maintenance and integrity of the Group’s website. We have not been engaged to report on
the integrity of the Group’s website. We accept no responsibility for any changes that may have occurred to the
condensed consolidated interim financial statements since they were initially presented on the website.

34
The review report refers only to the condensed consolidated interim financial statements named above. It does
not provide a conclusion on any other information which may have been hyper linked to / from these condensed
consolidated interim financial statements. If readers of this report are concerned with the inherent risks arising
from electronic data communication, they should refer to the published hard copy of the review condensed
consolidated interim financial statements and related auditor’s review report dated 25 November 2022 to
confirm the information included in the reviewed condensed consolidated interim financial statements
presented on this website.

Legislation in New Zealand governing the preparation and dissemination of condensed consolidated interim
financial statements may differ from legislation in other jurisdictions.

The engagement partner on the review resulting in this independent auditor’s review report S Patel.




BAKER TILLY STAPLES RODWAY AUCKLAND
Auckland, New Zealand

25 November 2022

Radius Residential Care
ADDRESS
Level 4, 56 Parnell Road, Parnell, Auckland
PHONE
+64 9 304 1670
EMAIL
investor@radiuscare.co.nz
Caring is our calling
34
The review report refers only to the condensed consolidated interim financial statements named above. It does
not provide a conclusion on any other information which may have been hyper linked to / from these condensed
consolidated interim financial statements. If readers of this report are concerned with the inherent risks arising
from electronic data communication, they should refer to the published hard copy of the review condensed
consolidated interim financial statements and related auditor’s review report dated 25 November 2022 to
confirm the information included in the reviewed condensed consolidated interim financial statements
presented on this website.

Legislation in New Zealand governing the preparation and dissemination of condensed consolidated interim
financial statements may differ from legislation in other jurisdictions.

The engagement partner on the review resulting in this independent auditor’s review report S Patel.




BAKER TILLY STAPLES RODWAY AUCKLAND
Auckland, New Zealand

25 November 2022

---

Half Year Result
F O R 6 M O N T H S T O 3 0 S E P T E M B E R 2 0 2 2

Radius Care
2
1HY23
Presenting
Today
Andrew Peskett
Chief Executive Officer
BA (Hons)
Appointed Chief Executive Officer
in February 2022
Previously at Metlifecarefor over
14 years
Extensive aged care senior
executive experience including
MetlifecareActing CEO, GM
Corporate Services and Acting
GM Operations
WendyJenkins
Chief Financial Officer
BCom, CA, MBA
Appointed Chief Financial
Officerin July 2022
Previously GM Management
Information at ASB Bank and
previously held GM roles at
Genesis Energy across its
corporate finance, investor
relations, retail and technology &
digital operations

Radius Care
3
1HY23
Agenda
Radius Glaisdale
OVERVIEW OF 1HY23 PERFORMANCE
Continued execution of growth strategy
ANALYSIS OF RESULT
Continuation of strong track record
POSITIONING RADIUS CARE
Strategy update
APPENDICES
−Key operational and financial metrics
−Summary Profit and Loss, Balance
Sheet and Cash Flow

Radius Potter Home
Overview of
1HY23
Performance
C O N T I N U E D E X E C U T I O N O F
G R O W T H S T R A T E G Y

Radius Care
5
1HY23
1HY23
Business
Highlights
and Key
Events
BusinessResilience
Resilience of the business and people to ongoing Covid impacts with
occupancy remaining well above industry averages.
Increased Property Ownership
Settlement of UCG acquisition consisting of four strategic leased sites
in Auckland, Hamilton, Palmerston North and Dunedin with an option
to buy a fifth leased site in Hamilton.
Strategic Acquisitions
Acquisition of Matamata Country Lodge, an integrated care home
and retirement village with 81 care beds and 46 ORA units.
Growth of Development Pipeline
339 care beds and 126independent living units in development
pipeline.

Radius Care
6
1HY23
1HY23
Financial
Highlights
Financial Performance
•Reported Net Profit After Tax up 29.2% to $1.7m
•Pre-NZ IFRS 16 Underlying EBITDA up 36.7% to $7.0m
•AFFO up 7.1% to $2.5m
•Underlying EBITDA per care bed up 2.3% to $10.6k
•Accommodation supplements increased 16.9% to $3.7m
•Maintenance of cents per share dividend at the same level
as last year’s dividend payment
Balance Sheet Position
•Total assets of $350.2m
•Investment properties of $69.6m, up $23.6m from FY22
•Property, plant and equipment of $131.2m, up $57.4m from
FY22
•Lease liabilities of $119.0m, down from $142.5m in FY22

Radius Care
7
1HY23
Our People
Showed incredible resilienceto continue the best of care
despite challenging conditions with COVID-19
Intensified efforts to recruit overseas nurses with a
steadystream of applications resulting in 120 IQNs starting
shortly filling all current vacancies
Introduction of virtual nurses to our offering
Aligning with post pandemic best practice in staff
well-being, resilience, and sustainability
In the second half of FY23 Radius will issue $1,000 of shares
to each eligible employee who has been with the
company for more than 10 years

Radius Care
8
1HY23
Radius Potter Home

9
Analysis of
Result
C O N T I N U A T I O N
O F S T R O N G
T R A C K R E C O R D
Radius St Helenas

Radius Care
10
1HY23
Financial PerformanceOverview
Steady revenue and EBITDA growth despite challenging market conditions
Total Revenue
1
1HY23 Revenue of $69.9m up 7.6% vs pcp
$m
Pre-NZ IFRS 16 Underlying EBITDA
1HY23 Pre-NZ IFRS 16 Underlying EBITDA of $7.0m, up
36.7% vs pcp
$m
1 Total rev enue excludes other income
6.0
5.1
7.0
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
1HY211HY221HY23
59.9
64.9
69.9
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
1HY211HY221HY23

Radius Care
11
1HY23
Occupancy
1 Source: Industry Information based on NZACA Occupancy –TAS Aged Residential Care Quarterly Reporting Surv ey as at 30 September 2022. Includes ORA ARRC-certified beds and their residents
Strong occupancy settling at 91.9% versus the industry average
1
of 85.3% for the September 2022 quarter
90.1%
89.6%
90.4%
91.6%
91.0%
92.7%
93.7%
93.4%
93.1%
92.0%
92.3%
92.0%
91.4%
91.9%
87.2%
87.2%
86.5%
87.1%
86.8%
88.0%
87.8%
87.2%
87.3%
86.1%
86.2%
85.8%
85.2%
85.3%
84
85
86
87
88
89
90
91
92
93
94
95
Jun-19Sep-19Dec-19Mar-20Jun-20Sep-20Dec-20Mar-21Jun-21Sep-21Dec-21Mar-22Jun-22Sep-22
Occupancy rate %
Radius Care (monthly) Industry average (quarterly)

Radius Care
12
1HY23
1HY23
1HY22
1HY23
1HY22
34.0%
32.0%
42.3%
13.5%
12.7%
44.9%
47.3%
48.8%
50.5%
42.6%
23.3%
22.5%
11.1%
10.9%
13.3%
12.3%
11.0%
5.7%
5.8%
1.8%
5.2%
5.6%
0.5%
0.8%
0.8%
0.9%
Rest HomeSwingHospitalDementiaPsychogeriatric & Other Non ORAPhysical and intellectual
Beds certified for high acuity and specialist care are 87% of the portfolio with significant flexibility of care
1 Source: CBRE analysis, October 2022
CareBed
Type
Care
Bed Use
Industry
average
1
Radius Care
operates a
significant number
of swing beds which
are able to provide
Rest Home or
Hospital level care
depending on
residents needs
BedMix
~87% of Radius Care Beds are certified for high acuity
~87% of Radius Care Beds are certified for high acuity
~58% high acuity and specialist
~68% of Radius Care Beds are used for high acuity, vs industry of ~53%
~66% of Radius Care Beds are used for high acuity, vs industry of ~58%

Radius Care
13
1HY23
ContinuedGrowth inUnderlying EBITDA per Care Bed
Underlying EBITDA per care bed
1
($000)
Significantly greater than the industry average. Continuing
growth in this key metric is expected.
1 Underlying EBITDA for aged care segment div ided by the av erage number of care beds occupied during the period
10.7
10.3
10.6
5.0
6.0
7.0
8.0
9.0
10.0
11.0
1HY211HY221HY23

Radius Care
14
1HY23
Cash Flow and Dividends
The pay out rate is 58% of AFFO
Dividends
Interim Dividend
•Interim dividend of 0.70 cents per share
including full imputation credits of 0.20 cents
per share.
•Ex-dividend date –19 December 2022
•Record date –20 December 2022
•Payment date –13 January 2023
DRP
•A Dividend Reinvestment Plan (DRP) will be in
place for the interim dividend. Eligible
investors wishing to take up the DRP will need
to register to take part.
AFFO
-1HY23 AFFO of $2.5m
$m
2.4
2.3
2.5
0.0
1.0
2.0
3.0
1HY211HY221HY23

Radius Care
15
1HY23
UCG Transaction
Disclosure Amendment
UCG Expense Savings
-Radius Care identified that the accounting
treatment outlined in the Special Notice of
Meeting (NoM) dated 14 April 2022 contained a
presentation error in respect of the information on
the impact of the transaction on Net Profit Before
Tax (pages11 and 12 of the NoM).
-The pro forma expense savings from the
acquisition were therefore overstated by
approximately $235k per month on a post-IFRS16
basis.
-Despite this, and based on the totality of the
information in the NoM, the acquisition of four
strategically important sites has been of benefit to
Radius Care, as further outlined in the NoM.

16
Strategy
Update
Radius Glaisdale

Radius Care
17
1HY23
StrategyUpdate
Significant strategy-driven property transactions undertaken
Brownfield
development
2008
The
Beginning
Launched in
2003
Beds = 1,431
ORAs = 118
2013
2018
2020
2022
2023
Solidify
1 care home
business purchased
Purchased land for
ElloughtonVillage
Purchased land of
2 leased care
homes
2 care homes sold
1 care home
closed due to
Christchurch
earthquake
Steady
Growth
3 more care
home
businesses
purchased
NZX Listed
Purchased land
of 1 leased care
home in Katikati
Continue to
grow
Land and
Buildings
Strategy
Purchased land
of 8 leased care
homes
Purchased care
home and RV
operation in
Invercargill
Purchased
Matamata
Country Lodge
Greenfield
development
Acquisition of
strategically
important facilities
already operated by
Radius Care
Opportunistic
acquisitions
Since it first launched in 2003, Radius Care has successfully executed its growth strategy...
... which is informed by its
four strategic pillars

Radius Care
18
1HY23
Opportunistic acquisitions -Matamata Country Lodge
The strategic acquisition of a high-quality asset with premium facilities...
•The acquisition of Matamata Country Lodge and its three neighbouring
properties is a further example of Radius Care being a natural acquirer of
disparate facilities where it can leverage its operating model to increase
earnings at those facilities
•Radius Care will continue to explore further opportunities to add sites to its
portfolio where they are value accretive and provide growth opportunities
81 care beds
46 retirement village units
18 villa development pipeline
...providing an opportunity to realise cost/scale efficiencies and further growth
✓Further increases portfolio scale and provides cost efficiencies through
greater spreading of corporate overheads and more efficient rostering
✓Offers residents a continuum of care
✓Increases the number of retirement village units utilising ORA structure
✓High occupancy and a four-year certification from the Ministry of Health
✓Located in an area with high latent demand due to limited competition
✓Significant development potential with a concept design for 18 new villas
already having been completed
Example of the Company’s strategy to opportunistically acquire facilities which complement the existing portfolio while
leveraging Radius capabilities to realise efficiencies and add value

Radius Care
19
1HY23
Radius Care
has acquired
8 strategically
important
facilities since
it listed...
•Since its listing in December 2020, Radius Care has
acquired eight facilities for $78.1mit previously leased
•The purchase of these facilities aligns with Radius
Care’s strategy by providing greater control over
strategic sites, allowing value enhancing initiatives to
be implemented
...which has
reshaped the
composition
of its
portfolio...
...and
provides a
number of
benefits
including
increased
control over
sites
✓Enables greater control over site and development
opportunities
✓Allows for future Care Suite and ILU development
✓Better control over cost base
✓Lease expense savings
✓Creates better integration across sites
✓Ability to implement ORA structure
Leased
79%
Owned
21%
Acquisition of strategically important leased facilities
(1)By number of sit es
Listing Profile
1
As at October 2022
1
TaupakiGables
Auckland
60 care beds
Arran Court
Auckland
102 care beds
Windsor Court
Ohaupo
76 care beds
Heatherlea
New Plymouth
55 care beds
Elloughton
Gardens
Timaru
86 care beds
St Joans
Hamilton
82 care beds
Peppertree
Palmerston North
62 care beds
Fulton
Auckland
93 care beds
UCG acquisition sites
(May-22)
Ohaupo acquisition sites
(Aug-21)
Leased
46%
Owned
54%
Leased facilities purchased since Radius Care listed
Overview and benefits of the ownership model

Radius Care
20
1HY23
Developments
LexhamPark
KATIKATI
Targeted September 2023
41
Care Suites
TaupakiGables
AUCKLAND
Targeted early 2023
20
Care Beds
ThornleighPark
NEW PLYMOUTH
Completing December 2022
24
Care Beds
Northwood
CHRISTCHURCH
Targeted late 2023
67
Villas
27
Apartments
70
Care Beds
30
Care Suites

Radius Care
21
1HY23
Care beds
RV units
Future PortfolioDevelopments
Continuation of strategy will result in increased scale and portfolio diversity
✓Strong focus on care
offering retained
✓Increased portfolio scale
and cost efficiencies
✓Larger facilities
✓Enhanced continuum of
care service offering
✓Increased income
diversity
✓Premiumisation of care
offering through care
suites
Care beds
Care
suites
RV units
1 Indicativ e only and assuming all planned dev elopments (including those currently still in the concept stage) are completed
~2,010
units / beds
Current portfolio
Future portfolio
1
~2,430
units / beds

Radius Care
22
1HY23
FY23Outlook
Improved second half performance building on recent
acquisitions
Embed Matamata Country Lodge into portfolio and drive
performance improvement and unit sales
Development of 24 Care Beds at ThornleighPark in New
Plymouth on track to be completed next month
Construction targeted to start at TaupakiGables and
LexhamPark in 2023
Establish sustainability programme and prepare for
climate-related disclosure reporting
Radius Clare House

Radius Care
23
1HY23
Radius St Helenas

24
Appendices
Radius Matamata Country Lodge

Radius Care
25
1HY23
1.0
0.5
0.5
0.2
0.8
RadiusOceaniaArvidaSummersetRyman
The Radius Care growth pipeline provides unique exposure to a high acuity, specialised care provider that remains
committed to and focused on delivering compassionate and outstanding clinical care outcomes.
1.
Demand
2. Portfolio
3.
Systematic
Approach
4. Growing
Non-
Government
Revenues
5. Growth
Pathway
6. Strong
Founder
Backed
Team
Key Investment Highlights
1
Demand underpinned by population demographics
1
2
Portfolio oriented to high acuity and specialist care
2
Systematic approach to provision of care
1)Centralised head-office systems and support
2)High level of audit Continuous Improvement awards
3)Immigration accreditation and nursing innovation
4)Early engagement through Radius Online Shop
3
Growing direct non-Government revenues
3
4
5
Clear growth pathway via
1)Purchase of strategically important
facilities’ land and buildings
2)Brownfield and greenfield
development with ownership of land
and buildings
3)Opportunistic acquisitions
Strong founder backed team
Brien Cree
Founder and Executive
Chair
Andrew Peskett
Chief Executive
Officer
6
1 Source: Statistics New Zealand
2 Source: Ministry of Health audit reports as disclosed on Ministry of Health website –https://www.health.govt.nz/your-health/certified-providers/aged-care/based on data as at 20 October 2022
3 Includes accommodation supplements, retirement v illage units, Radius Online Shop and other priv ately paid rev enues
AP P E N D I X 1
Average additional offerings (Psychogeriatric, Physical, Intellectual,
Dementia) per facility
0.0%
2.0%
4.0%
6.0%
8.0%
2003200820132018202320282033
Rolling 5
-
year pop
CAGR (%)
65 - 85 5-yr CAGR85+ 5-yr CAGR
3.4%
10.3%
0%
5%
10%
15%
FY13FY14FY15FY16FY17FY18FY19FY20FY21FY221HY23
Proportion of
total rev enue (%)

Radius Care
26
1HY23
At a Glance
1,860+
Beds
1,700+
Employees
92.7%
Care Beds
7.3%
ILUs
National aged care focused portfolio with strong regional presence,
owing 13 and leasing 11 of the 24 sites nationwide
ILUs are Independent
Living Units
AP P E N D I X 2

Radius Care
27
1HY23
Underlying EBITDA Split
$m1HY231HY221HY211HY20
Aged Care
17.016.316.612.8
Retirement Village
0.80.40.40.5
Group support
(6.5)(5.5)(4.6)(4.0)
Underlying EBITDA
11.311.212.49.3
Key operational and financial metrics
Operating Metrics
1HY231HY221HY211HY20
Number of Care Beds (period end)
1
1,8651,7151,7141,704
Average Care Bed Occupancy
2
91.5%93.0%91.6%89.7%
Underlying EBITDA per Care Bed
3
(000s)$10.6$10.3$10.7$8.4
Number of Units (period end)
4
147767668
Number of new Unit sales-425
Number of existing Unit resales3-1-
Realised gains on resales (m)$0.2---
Realiseddevelopment margins (m)-$0.1$0.2$0.3
Cash DMF realised uponresale (000s)$140-$15-
Average resale price (000s)$445-$300-
Average new unit saleprice (000s)-$403$425$400
1 Comprises Care Beds occupied, av ailable to be occupied or unav ailable due to refurbishment
2 Total occupied Care Bed days div ided by total Care Bed days av ailable during the period
Accommodation Supplements
1HY231HY221HY211HY20
Accommodation Supplements Revenue
$3.7m$3.1m$2.7m$2.4m
Number of Care Beds (period end)
1
1,8651,7151,7141,704
Number of Available Care Beds with
Accommodation Supplements
1,2651,1471,1461,138
Percentage of Care Beds with
Accommodation Supplements
67.8%66.9%66.9%66.8%
Revenue Split
$m1HY231HY221HY211HY20
Aged Care
68.163.859.155.5
Retirement Village
1.20.70.60.6
Group support
0.60.40.20.2
Total revenue
5
69.964.959.956.3
•30% over three years
•average resident tenure: 3.9 years
3 Pro forma Underlying EBITDA for aged care (as set out in the lower right table) div ided by the av erage number of Care Beds occupied during the period
4 Comprises Units occupied, available to be occupied or unav ailable due to refurbishment
5 Total rev enue excludes Other income
DMF terms for Retirement Village units
AP P E N D I X 3

Radius Care
28
1HY23
($000)1HY231HY221HY21
Revenue
Revenue from contracts with customers69,10164,45859,471
Deferred management fees768449389
Total revenue69,86964,90759,860
Fair value movement of investment properties175(65)716
Government subsidy received154-794
Interest income503230
Gain on acquisition of leased property assets1,7811,403-
Gain on business acquisition927--
Total revenue and other income72,95666,27761,400
Expenses
Employee costs(44,341)(39,292)(35,645)
Depreciation expense(4,986)(5,746)(5,728)
Finance costs(5,344)(4,590)(4,998)
Other expenses(16,097)(14,987)(12,406)
Total expenses(70,768)(64,615)(58,777)
Profit before income tax2,1881,6622,623
Income tax expense(464)(328)(558)
Profitfor the period
1,724
1,3342,065
OTHER COMPREHENSIVE INCOME FOR THE PERIOD
Other comprehensive income---
Total comprehensive income1,7241,3342,065
•Reported Net Profit After
Tax up 29.2% to $1.7m
•Pre-NZ IFRS 16 Underlying
EBITDA up 36.7% to $7.0m
•Underlying EBITDA per
Care Bed up 2.3% to
$10.6k
Financials
Statement of
Comprehensive Income
AP P E N D I X 4

Radius Care
29
1HY23
($000)1HY23FY22FY21
Assets
Cash and cash equivalents1282,0882,761
Trade and other receivables14,2329,8827,181
Inventories761768548
Current tax assets59--
Investment properties69,59746,01431,675
Property, plant and equipment131,23873,83933,459
Right-of-use assets110,998133,912177,170
Intangible assets19,75719,75716,996
Deferred tax assets3,4343,8853,635
Total assets350,204290,145273,425
Liabilities
Trade and other payables18,39216,90114,911
Current tax liabilities-4441,135
Borrowings95,53830,00027,212
Deferred management fee3,3871,5531,178
Refundable occupation right agreements38,52728,61620,591
Lease liabilities119,020142,543184,305
Total liabilities274,864220,057249,332
Net assets75,34070,08824,093
Equity
Share capital56,73251,7325,932
Asset revaluation reserve6,8126,8126,812
Other reserve9--
Retained earnings11,78711,54411,349
Total equity75,34070,08824,093
•Investment properties of
$69.6m, up $23.6m from FY22
•Property, plant and
equipment of $131.2m, up
$57.4m from FY22
•Lease liabilities of $119.0m,
down from $142.5m in FY22
Financials
Statement of
Financial Position
AP P E N D I X 5

Radius Care
30
1HY23
Financials
Statement of Cash Flows
($000)1HY231HY221HY21
Cash flows from operating activities
Receipts from residents for care fees and village fees65,85662,67060,788
Receipts of Government subsidy--353
Payments to suppliers and employees(60,039)(54,899)(48,875)
Proceeds from the sale of Refundable Occupation Right
Agreements
1,3351,6101,656
Settlement ofRefundable Occupation Right Agreements(855)-(290)
Interest received503230
Interest paid –borrowings(2,286)(421)(468)
Interest paid –lease liabilities(3,046)(4,169)(4,530)
Income tax paid(615)(1,268)(1,351)
Net cash provided by operating activities
400
3,5557,313
Cash flows from investing activities
Proceeds from the sale of property, plant and equipment747-
Payments for the purchase of property, plant and equipment(53,032)(33,771)(1,451)
Payments for village developments(97)(98)(841)
Payment for acquisition of business(500)--
Net cash used in investing activities
(53,622)
(33,822)(2,292)
Cash flows from financing activities
Net proceeds from issue of shares-48,229-
Proceeds fromborrowings54,020--
Repayment of bank borrowings-(8,500)(839)
Principal payment of lease liabilities(1,277)(1,950)(1,871)
Share issue costs-(2,404)-
Dividends paid(1,481)(1,128)-
Net cash provided by/(used in) financing activities51,26234,247(2,710)
Reconciliation of cash and cash equivalents
Cash and cash equivalents at beginning of the period2,0882,7612,317
Net increase/(decrease) in cash and cash equivalents held(1,960)3,9802,311
Cash and cash equivalents at end of period
128
6,7414,628
AP P E N D I X 6

Radius Care
31
1HY23
($000)1HY231HY221HY21
Profitfor the period1,7241,3342,065
Adjustments
Non-recurring or infrequent items
Remove: COVID-19 related expenses1,267331653
Remove: Government COVID-19 Subsidy--(857)
Remove: One-off costs273174-
Structural changes and other
Include: Listed & other company costs--(553)
Remove: Historical governance costs--341
Remove: Gain on acquisition ofproperty assets(2,708)(1,403)-
Include: Income tax impact from adjustments(431)(141)116
Underlying adjustments
Remove: Change in fair value of investment properties(175)65(716)
Include: Realiseddevelopment margins-90190
Include: Realisedgains on resales175-10
Remove: Deferred tax expense351(1)(1,143)
Underlying Net profit before tax476449106
Remove: Depreciation4,9885,7465,728
Remove: Net interest expense5,2824,5584,968
Remove: Current tax expense1133291,701
Remove: Income tax impact from adjustments431141(116)
Underlying EBITDA11,29011,22312,387
Include: Pre-NZ IFRS 16 operating lease expense(4,309)(6,118)(6,400)
Pre-NZ IFRS 16 Underlying EBITDA6,9815,1055,987
Include: Depreciation and amortisation (Pre-NZ IFRS 16)(2,539)(2,200)(2,094)
Include: Net interest expense (Pre-NZ IFRS 16)(2,236)(389)(438)
Include: Current tax expense(113)(329)(1,701)
Include: Income tax impact from adjustments(431)(141)116
Pre-NZ IFRS 16 Underlying Net profit after tax1,6622,0461,870
Remove: Depreciation and amortisation (Pre-NZ IFRS 16)2,5392,2002,094
Include: Maintenance capital expenditure(1,735)(1,944)(1,613)
AFFO2,4662,3022,351
Financials
Reconciliation of NZ
GAAP financial
measures to non-
GAAP financial
measures
AP P E N D I X 7

Radius Care
32
1HY23
LEASED
FACILITYLOCATIONCARE BEDSUNITS
CURRENT LEASE
TERM
TIME TO NEXT
RENEWAL
RIGHTS OF RENEWAL
TIME TO FINAL
EXPIRY
LANDLORD
KensingtonHamilton96-10 yrs1.6 yrs2 x 10 yrs11.6 yrsA
Potter HomeWhangarei55-20 yrs7.1 yrs2x 15 yrs37.1 yrsB
Rimu ParkWhangarei55-20 yrs7.1 yrs2x 15 yrs37.1 yrsB
WaipunaAuckland86-30 yrs24.3 yrs-24.3 yrsC
Hampton CourtNapier45-10 yrs6.4 yrs-6.4 yrsD
BaycareNorthland45-12 yrs3.5 yrs3x 12 yrs39.5 yrsE
MatuaTauranga149-30 yrs20.1 yrs-20.1 yrsF
AlthorpTauranga117-15 yrs5.9 yrs3x 10 yrs35.9 yrsG
Millstream
1
Ashburton80-35 yrs28.8 yrs-28.8 yrsH
Millstream Apartments
1
Ashburton19-5 yrs1.9 yrs2x 5 yrs11.9 yrsH
GlaisdaleHamilton80-15 yrs9.7 yrs2x 15 yrs39.7 yrsI
HawthorneChristchurch94-10 yrs7.6 yrs2x 10 yrs17.6 yrsJ
Total leased921-n/an/an/an/a
Average leased77-17.7 yrs10.3 yrsn/a25.9 yrs
Directoryoffacilities
AP P E N D I X 8
1 Millstream and Millstream Apartments are one facility but Millstream Apartments has a separate lease to the main facility.

Radius Care
33
1HY23
Directoryoffacilities
AP P E N D I X 9
OWNED
FACILITYLOCATION
CARE
BEDS
UNITS
St HelenasChristchurch52-
Thornleigh ParkNew Plymouth63-
LexhamParkKatikati63-
HeatherleaNew Plymouth55-
Taupaki GablesKumeu60-
Windsor CourtOhaupo76-
ElloughtonGardensTimaru86-
Clare House Invercargill69-
Clare House VillageInvercargill-25
Arran CourtAuckland102-
PeppertreePalmerston North62-
St JoansHamilton82-
Fulton HomeDunedin93-
Windsor Court VillageOhaupo-22
ElloughtonGrange VillageTimaru-54
Matamata Country LodgeMatamata81-
Matamata Retirement VillageMatamata-46
Total owned944147
Average owned7337
TOTAL
FACILITYCARE BEDSUNITS
Leased921-
Owned 944147
TOTAL
1,865147

Radius Care
34
1HY23
Important
Notice and
Disclaimer
ThispresentationhasbeenpreparedbyRadiusResidentialCareLimited(“RadiusCare”),forinformationalpurposes.This
disclaimerappliestothisdocumentandtheverbalorwrittencommentsofanypersonpresentingit.
ThispresentationsetsoutinformationrelatingtoRadiusCare’shalfyearresultfortheperiodto30September2022.As
such,itshouldbereadinconjunctionwiththeauditedconsolidatedfinancialstatementsforRadiusCareandits
subsidiariesfortheperiodended30September2022(“FinancialStatements”)andothermaterialthatRadiusCarehas
releasedtoNZXalongwiththispresentation.Thatmaterialisalsoavailableatwww.radiuscare.co.nz.
Incertainsectionsofthispresentation,RadiusCarehaschosentopresentcertainfinancialinformationexclusiveofthe
impactofsignificantitems.Anumberofnon-GAAPfinancialmeasuresareusedinthispresentationwhichareusedby
managementtoassesstheperformanceofthebusinessandhavebeenderivedfromtheFinancialStatements.You
shouldnotconsideranyofthesefinancialmeasuresinisolationfrom,orasasubstitutefortheinformationprovidedinthe
FinancialStatements.
Thispresentationmaycontainforward-lookingstatementsandprojections.Suchforward-lookingstatementsarebased
oncurrentexpectations,estimatesandassumptionsandaresubjecttoanumberofrisksanduncertainties,including
materialadverseevents,significantone-offexpensesandotherunforeseeablecircumstances.Thereisnoassurance
thatresultscontemplatedinanyoftheseprojectionsandforward-lookingstatementswillberealised.Actualresultsmay
differmateriallyfromthoseprojected.Exceptasrequiredbylaw,ortheNZXListingRules,nopersonisunderany
obligationtoupdatethispresentationatanytimeafteritsreleaseortoprovidefurtherinformationaboutRadiusCare.
TheinformationinthispresentationhasbeenpreparedingoodfaithbyRadiusCare.NeitherRadiusCarenoranyofits
directors,employees,shareholdersnoranyotherpersongiveanyrepresentationsorwarranties(eitherexpressorimplied)
astotheaccuracyorcompletenessoftheinformationinthispresentationandtothemaximumextentpermittedbylaw,
nosuchpersonshallhaveanyliabilitywhatsoevertoanypersonforanyloss(including,withoutlimitation,arisingfrom
anyfaultornegligence)arisingfromthispresentationoranyinformationsuppliedinconnectionwithit.
Thispresentationisnotaproductdisclosurestatementorotherdisclosuredocument,oranofferofsharesfor
subscription,orsale,inanyjurisdiction.Theinformationinthispresentationdoesnotconstitutefinancialproduct,legal,
financial,investment,taxoranyotheradviceorarecommendation.

Radius Care
35
1HY23
Thank You

---

Investor
Letter
Radius Residential Care Ltd | www.radiuscare.co.nz
Caring is our calling
HALF YEAR REPORT 2023

Operational and Strategic Highlights3
Financial Overview5
Message from Executive Chair & CEO 6
At a Glance 11
Consolidated Statement of Comprehensive Income 13
Consolidated Statement of Financial Position 14
Consolidated Statement of Cash Flows 15
Contents
2

Operational and
Strategic Highlights
+81 from 31 March 2022
Care Beds
1,865
+46 from 31 March 2022
Independent
Living Units
147
Industry leader
in Specialist Care
Offerings
Occupancy
outperforms
Industry
Senior
Leadership team
strengthened
PORTFOLIO ACQUISITIONS
Acquisition of the land
and buildings of four
facilities previously
under long-term lease
arrangements.
Granted an option to buy Radius Kensington at
Maeroa, Hamilton.
Announced Matamata
Country Lodge
acquisition - adding 81
care beds, 46 ILUs.
Richard
Callander
Wendy
Jenkins
3
Investor Letter for 2023 First Half

Operational and
Strategic Highlights continued
DEVELOPMENT
PIPELINE
Development bank
of 299 beds and
124 independent
living units at
30 September.
STRATEGIC LEASEHOLD
ACQUISITIONS
An exciting new
initiative. Creating a
pool of virtual nurses
who provide additional
clinical support to
the facilities.
PORTFOLIO DEVELOPMENTS
Continuation of building works at Thornleigh Park,
New Plymouth, due to complete December 2022.
VIRTUAL NURSES
$46.7m
Settlement of UCG
acquisition consisting
of four strategic leased
sites in Auckland,
Hamilton, Palmerston
North and Dunedin.
4
Investor Letter for 2023 First HalfRadius Residential Care

Financial Overview
Up from
$1.3m in 1HY22
Reported Profit
After Tax
$1.7m
Up from
$11.2m in 1HY22
Underlying
EBITDA
$11.3m
Up from
$5.1m in 1HY22
Pre-NZ IFRS 16
Underlying EBITDA
$ 7.0 m
Up 20.7% from
31 March 2022
Total Assets
$350.2m
Down from $142.5m
at 31 March 2022
Lease Liabilities
$119.0m
Up from 10.3% at
31 March 2022
Debt/Total Assets
27.3%
Up from
8.3% in 1HY22
Direct Private
Revenue
(non-government)
10.3%
Up from
$10.3k in 1HY22
Underlying EBITDA
per Care Bed
$10.6k
Up from
$3.1m in 1HY22
Accommodation
Supplements
$3.7m
Up from
$2.3m in 1HY22
Available Funds
from Operations
$2.5m
In line with
0.70 cps at FY22
Gross Interim
Dividend
0.70 cps
Up from
$64.9m in 1HY22
Reported
Revenue
$69.9m
5
Investor Letter for 2023 First HalfRadius Residential Care

Dear shareholder
We are delighted to provide you with this update on
Radius Care’s business for the first six months of the 2023
financial year.
Like many businesses in New Zealand we’re finding the
operating and economic environment is presenting a number
of challenges. Unlike many businesses however we are finding
the deep commitment of our staff and our many years of
operational experience in a specialised area of the care sector
is offering Radius Care a comforting level of resilience. The
business is well positioned to ride through an operating
environment that to some looks fragile but to us looks
exciting and full of opportunity.
Looking back over the six months to 30 September there
were some very clear highlights:
• Amazing commitment, care and resilience of our
exceptional people during a time of significant COVID-19
impacts.
• Continued execution of our growth strategy.
• Industry-leading international channels successfully
sourced for nurse recruitment.
• Industry-leading EBITDA metrics, ahead of
prior comparable period despite COVID and
industry-funding headwinds.
• Facility redevelopment programme tracking on time and
on budget.
Brien Cree & Andrew Peskett
Delivering a strong
performance and executing
growth strategy
EXECUTIVE CHAIR & CHIEF EXECUTIVE
MESSAGE FROM
6
Investor Letter for 2023 First HalfRadius Residential Care

Brien Cree & Andrew Peskett
MESSAGE FROM
Property portfolio
Reshaping Radius Care’s property portfolio
continues to be a key driver of strategy.
In early May, shareholder approval was granted
at a special meeting for the purchase from UCG
Properties of the land and buildings of four
facilities over which we had long term-leases.
On settlement of the $46.7m acquisition, Radius
was able to deliver $0.8m in annual savings from
lease costs being replaced by interest costs and
depreciation. The purchase of these facilities
directly aligns with one of the four pillars of Radius
Care’s strategy by providing greater control over
strategic sites, allowing for future developments
to be planned.
A fifth facility from the UCG portfolio, Radius
Kensington in Maeroa, Hamilton, was sold to a third
party who has granted Radius Care an option to
purchase the property.
At the end of August, we
announced the purchase of
Matamata Country Lodge together
with three neighbouring properties.
This beautiful property provides us
with an additional 46 independent
living units and 81 care beds. There
is also development potential with
an additional 18 villas planned
on the adjacent sites. Again,
this acquisition aligns with the
opportunistic acquisition pillar of
our strategy.
“We were delighted to be
able to add an exceptional
new operation, Matamata
Country Lodge, to our
portfolio in late September.
It’s a very high-quality
facility with high occupancy
and often has a waiting list.
With nearly fifty retirement
village units, it provides
further evidence of execution
of our growth strategy.”
Brien Cree
7
Investor Letter for 2023 First HalfRadius Residential Care

Staffing and recruitment
Radius Care’s values statement is Exceptional
People, Exceptional Care. This has certainly
proven to be the case in the past six months as
COVID-19 continues to make its presence known.
I want to give immense thanks to our staff for
the way they’ve continued to offer the very best
of care every day to our residents and deep
commitment to their colleagues and to Radius
Care despite the challenges of being a front-line
health care worker.
Radius Care has been a market leader for many
years with its offering in the care sector of the
market. This is one of the characteristics that has
created a level of resilience in our business and
enabled it to continue to perform well despite
the mixed performance of the economy.
During the six months we have intensified our
overseas nurse recruitment programme and
successfully added additional channels that
have driven a steady stream of applications from
Internationally Qualified Nurses to fill all current
vacancies. These nurses are required to complete
the seven-week training programme to achieve
New Zealand accreditation as a Registered
Nurse. It is our expectation that over the next
few months we will see an increase in staff
numbers and this will deliver a welcome range of
benefits including staff being able to take leave
through the summer, reduced reliance on bureau
nurses and staff again being able to
undertake further training.
We have also introduced an innovative
virtual nurse programme to many of our
offerings. This enables us to leverage
the capabilities of highly qualified
nurses who want to work from home to
support our front-line staff.
In the second half of the FY23 year
we are re-activating our 10-year
share scheme which rewards eligible
employees who have worked
continuously for Radius Care for 10
years with a one-off issue of Radius
Care shares to the value of $1,000
each. We are delighted to be able to
recognise this group’s exceptional
commitment to Radius Care.
The senior leadership team was
strengthened with the commencement
during the period of Wendy Jenkins
and Richard Callander. A short-term
incentive and long-term incentive
programme has been put in place
for the senior leadership team. The
long-term plan is a target share
price-based scheme, ensuring
executive incentives are aligned with
shareholders’ interests.
Lexham Park Development
Artist Rendering
8

Thornleigh Park New Plymouth
24 care beds
Completion: December 2022
Taupaki Gables Auckland
20 care beds
Targeted start: Early 2023
Lexham Park Katikati
41 care suites
Targeted start: September 2023
Northwood Christchurch
70 care beds, 30 care suites,
67 villas, 27 apartments
Targeted start: Late 2023
Taupaki Gables
Lexham Park
Thornleigh
Park
Northwood
Facility redevelopment programme
Radius Care’s planned redevelopment programme
will see an additional 299 beds and 124 retirement
village units added over the next five years. This
expansion has, in part, been able to be achieved
through the purchase of strategically important
facilities already operated (but not owned) by Radius
Care, providing greater control to undertake value
enhancing initiatives.
As at 30 September the development bank stood
at an estimated 106 care beds, 193 care suites, 97
villas and 27 apartments. Those facilities for which
building programmes are under way or planned over
the next 18 months are set out in the image above,
phasing subject to current economic conditions. The
capital cost of this programme is around $134m with
Thornleigh Park due to be completed in December
2022, on time and budget and Taupaki Gables to
commence early in 2023.
Dividend
A gross dividend of 0.70 cents per share has been
declared for the half year. The fully imputed dividend
will be paid on 13 January 2023.
The dividend payout for the first half is consistent
with the policy to target a pay-out ratio of 50% to
70% of AFFO, with each dividend
comprising approximately half of
the expected full year dividend.
Directors have put a dividend
reinvestment plan in place. This
will enable shareholders to take
their dividend in shares rather than
cash. The price at which the shares
will be issued will be the weighted
average market price of the shares
in the five trading days from the
date the shares go “ex” dividend.
Shareholders can join the dividend
reinvestment scheme, or alter their
participation, at any time. Eligible
shareholders for the scheme will be
able to elect either:
• all of their shares
• a fixed number of their shares or
• a fixed proportion of
their shares.
The scheme documents are to be
sent to shareholders. Shareholders
will be able to elect to participate,
change their participation or
withdraw from the scheme online by
visiting Computershare’s website.
9

Capital Strategy
During the half year Radius Care has continued
to execute on the four strategic pillars of its
growth strategy: to acquire facilities on an
opportunistic basis; to acquire strategically
important facilities it already operates; to
undertake brownfield developments; and to
undertake greenfield developments.
It is important that the company is well
positioned to take advantage of opportunities
that emerge that align with the growth strategy.
Our new CFO, Wendy Jenkins, has been leading
a capital strategy project to ensure Radius
Care has optimal balance sheet flexibility. Two
elements of the strategy are now in place. The
ASB short term facility has been extended out to
April 2023 and a dividend reinvestment plan has
been introduced and will be operative for the
FY23 interim dividend. Several further elements
are in planning and will be announced as and
when they are implemented.
FY23 Second half initiatives
In the second half of the year we will welcome
Internationally Qualified Nurses arriving from
the Philippines, Singapore, the Middle East, India
and the Pacific Islands. Radius Care will support
these nurses as they undertake the programme
to gain New Zealand registration.
These additional staff are likely to enable the
business to improve the service and efficiency
by improving key metrics such as occupancy
and bed mix.
We will continue with our programme of
preparing for the introduction of climate change
reporting for our FY24 year. A working group
that brings together people with the requisite
skills to deliver on this important project is
making good progress.
Outlook
The company is expecting a second
half result that is likely to exceed
the pre-NZ IFRS16 Underlying
EBITDA achieved in the first half.
Brien Cree
Executive Chair
Andrew Peskett
Chief Executive
10
Investor Letter for 2023 First HalfRadius Residential Care

At a Glance
Our
Presence
Auckland
Northland
Bay of Plenty
Waikato
Taranaki
Hawkes Bay
Manawatu
Canterbury
Southland
Otago
13/11
FACILITIES
OWNED/LEASED
147
INDEPENDENT
LIVING UNITS
1,860+
BEDS
1,700+
EMPLOYEES
11
Investor Letter for 2023 First HalfRadius Residential Care

$M
1HY23
UNAUDITED
1HY22
UNAUDITED
Total revenue69.964.9
Net profit after tax1.71.3
Underlying EBITDA11.311.2
Pre-NZ IFRS 16 Underlying EBITDA 7.05.1
Pre-NZ IFRS 16 Underlying NPAT 1.72.0
AFFO2.52.3
Total assets350.2271.6
Financial Highlights
Underlying EBITDA to AFFO Reconciliation
$M
1HY23
UNAUDITED
1HY22
UNAUDITED
Underlying EBITDA11,29011,223
Include: Pre-NZ IFRS 16 operating lease expense(4,309)(6,118)
Pre-NZ IFRS 16 Underlying EBITDA6,9815,105
Include: Depreciation and amortisation (Pre-NZ IFRS 16)(2,539)(2,200)
Include: Net interest expense (Pre-NZ IFRS 16)(2,236)(389)
Include: Current tax expense(113)(329)
Include: Income tax impact from adjustments(431)(141)
Pre-NZ IFRS 16 Underlying NPAT1,6622,046
Remove: Depreciation and amortisation (Pre-NZ IFRS 16)2,5392,200
Include: Maintenance capital expenditure(1,735)(1,944)
AFFO2,4662,302
12
Investor Letter for 2023 First HalfRadius Residential Care

Consolidated Statement of Comprehensive Income
For the six months ended 30 September 2022
$’000
Unaudited
Six Months
30-Sep-22
Unaudited
Six Months
30-Sep-21
REVENUE
Revenue from contracts with customers69,10164,458
Deferred management fees768449
Total revenue69,86964,907
Fair value movement of investment properties175(65)
Government subsidy received 154—
Interest income5032
Gain on acquisition of leased property assets1,7811,403
Gain on business acquisition927—
Total revenue and other income72,95666,277
EXPENSES
Employee costs (44,341)(39,292)
Depreciation expense(4,986)(5,746)
Finance costs(5,344)(4,590)
Other expenses(16,097)(14,987)
Total expenses(70,768)(64,615)
Profit before income tax 2,1881,662
Income tax expense(464)(328)
Profit for the period1,7241,334
OTHER COMPREHENSIVE INCOME FOR THE PERIOD
Other comprehensive income
——
Total comprehensive income1,7241,334
Basic and diluted earnings per share (cents per share) 0.64 0.64
13
Investor Letter for 2023 First HalfRadius Residential Care

Consolidated Statement of Financial Position
As at 30 September 2022
$’000
Unaudited
30-Sep-22
Audited
31-Mar-22
ASSETS
Cash and cash equivalents 128 2,088
Trade and other receivables 14,232 9,882
Inventories 761 768
Current tax assets 59 —
Investment properties 69,597 46,014
Property, plant and equipment 131,238 73,839
Right-of-use assets 110,998 133,912
Intangible assets 19,757 19,757
Deferred tax assets 3,434 3,885
Total assets 350,204 290,145
LIABILITIES
Trade and other payables 18,392 16,901
Current tax liabilities— 444
Borrowings 95,538 30,000
Deferred management fee 3,387 1,553
Refundable occupation right agreements 38,527 28,616
Lease liabilities 119,020 142,543
Total liabilities 274,864 220,057
NET ASSETS 75,340 70,088
EQUITY
Share capital 56,732 51,732
Asset revaluation reserve 6,812 6,812
Other reserve 9 —
Retained earnings 11,787 11,544
Total equity 75,340 70,088
14
Investor Letter for 2023 First HalfRadius Residential Care

Consolidated Statement of Cash Flows
For the six months ended 30 September 2022
The unaudited financial statements for Radius Residential Care Limited for the six months to 30
September 2022 are available at Results and Reports on radiuscare.co.nz/investors-centre/
$’000
Unaudited
Six Months
30-Sep-22
Unaudited
Six Months
30-Sep-21
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from residents for care fees and village fees
65,856
62,670
Payments to suppliers and employees
(60,039)
(54,899)
Proceeds from the sale of Refundable Occupation Right Agreements
1,335
1,610
Settlement of Refundable Occupation Right Agreements
(855)
—
Interest received
50
32
Interest paid - borrowings
(2,286)
(421)
Interest paid - lease liabilities
(3,046)
(4,169)
Income tax paid
(615)
(1,268)
Net cash provided by operating activities
400
3,555
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from the sale of property, plant and equipment747
Payments for the purchase of property, plant and equipment
(53,032)
(33,771)
Payments for village developments
(97)
(98)
Payment for acquisition of businesses
(500)
—
Net cash used in investing activities
(53,622)
(33,822)
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from issue of shares — 48,229
Proceeds from borrowings
54,020
—
Repayment of bank borrowings — (8,500)
Principal payment of lease liabilities
(1,277)
(1,950)
Share issue costs — (2,404)
Dividends paid
(1,481)
(1,128)
Net cash provided by financing activities
51,262
34,247
RECONCILIATION OF CASH AND CASH EQUIVALENTS
Cash and cash equivalents at beginning of the period
2,088
2,761
Net increase/(decrease) in cash and cash equivalents held
(1,960)
3,980
Cash and cash equivalents at end of the period
128
6,741
15
Investor Letter for 2023 First HalfRadius Residential Care

Radius Care
Radius Residential Care Limited
ADDRESS
Level 4, 56 Parnell Road, Parnell, Auckland
PHONE
0800 737 2273
EMAIL
investor@radiuscare.co.nz
Share Register
Computershare Investor Services Limited
ADDRESS
Private Bag 92119, Victoria Street West, Auckland 1142
Level 2, 159 Hurstmere Road, Takapuna, Auckland 0622
PHONE
+64 9 488 8777
EMAIL
drp@computershare.co.nz
Caring is our calling

---

Radius Residential Care Limited
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 Radius Residential Care Limited
Reporting Period 6 months to 30 September 2022
Previous Reporting Period 6 months to 30 September 2021
Currency NZD
Amount (000s) Percentage change
Revenue from continuing operations $69,869 7.6%
Total Revenue and other income $72,956 10.1%
Net profit from continuing operations $1,724 29.2%
Underlying EBITDA (non-GAAP) – see
explanation below
$11,290 0.6%
AFFO (Available Funds from
Operations)
$2,466 7.1%
Interim Dividend
Amount per Quoted Equity Security $0.00700372
Imputed amount per Quoted Equity
Security
$0.00196104
Record Date 20/12/2022
Dividend Payment Date 13/01/2023
Current period Prior comparable
period
Net tangible assets (000s)
$52,090 $49,492
Net tangible assets per Quoted Equity
Security
$0.18 $0.18
A brief explanation of any of the figures
above necessary to enable the figures
to be understood
Underlying EBITDA and AFFO are non-GAAP (non-
Generally Accepted Accounting Practice) measures
differ from NZ IFRS and IFRS Net Profit after
Tax and Net cash provided by Operating Activities,
respectively. Underlying EBITDA and AFFO do not
have a standardised meaning prescribed by NZ
GAAP (Generally Accepted Accounting Practice in
New Zealand) and so may not be comparable to
similar financial information presented by other
entities. The Group uses Underlying EBITDA and
AFFO, with other measures, to monitor financial
performance and for shareholder dividend
determination considerations. The Group uses these

measures consistently across reporting periods.
AFFO is a non-GAAP measure of available cash
used by the Group to indicate the level of
shareholder dividend it may pay.
Authority for this announcement
Name of person

authorised to make this
announcement
Wendy Jenkins
Contact person for this announcement Wendy Jenkins
Contact phone number 027 471 2377
Contact email address Wendy.jenkins@radiuscare.co.nz
Date of release through MAP

25 November 2022

Unaudited financial statements accompany this announcement.

---

Radius Residential Care Limited
Distribution Notice




Please note: all cash amounts in this form should be provided to 8 decimal places, including zeros (ie 0.01001000)

Section 1: Issuer information
Name of issuer Radius Residential Care Limited
Financial product name/description Ordinary Shares
NZX ticker code RAD
ISIN (If unknown, check on NZX
website)
NZRADE0005S4
Type of distribution
(Please mark with an X in the
relevant box/es)
Full Year Quarterly
Half Year X Special
DRP applies X
Record date 20/12/2022
Ex-Date (one business day before the
Record Date)
19/12/2022
Payment date (and allotment date for
DRP)
13/01/2023
Total monies associated with the
distribution
1

$1,435,000
Source of distribution (for example,
retained earnings)
Retained Earnings
Currency New Zealand dollars
Section 2: Distribution amounts per financial product
Gross distribution
2
$ 0.00700372
Gross taxable amount
3
$ 0.00700372
Total cash distribution
4
$ 0.00504268
Excluded amount (applicable to listed
PIEs)
N/A
Supplementary distribution amount N/A
Section 3: Imputation credits and Resident Withholding Tax
5


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.

Is the distribution imputed Fully imputed
If fully or partially imputed, please
state imputation rate as % applied
6

28%
Imputation tax credits per financial
product
$0.00196104
Resident Withholding Tax per
financial product
$0.00035019
Section 4: Distribution re-investment plan (if applicable)
DRP % discount (if any)
No discount
Start date and end date for
determining market price for DRP
19/12/2022 23/12/2022
Date strike price to be announced (if
not available at this time)
28/12/2022
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
Determined in accordance with the Dividend
Reinvestment Plan
Last date to submit a participation
notice for this distribution in
accordance with DRP participation
terms
21/12/202
Section 5: Authority for this announcement
Name of person

authorised to make
this announcement
Wendy Jenkins
Contact person for this
announcement
Wendy Jenkins
Contact phone number 027 471 2377
Contact email address wendy.jenkins@radiuscare.co.nz
Date of release through MAP

25/11/2022






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