Annual Meeting Materials

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Radius Residential Care Limited
ANNUAL SHAREHOLDERS’ MEETING 2023
Executive Chair and Managing Director’s Address – Brien Cree



At Radius Care, our primary focus is on caring for people. We take pride in being New Zealand's leading
provider of high acuity, aged residential care, dedicated to ensuring the well-being of our residents as
they age gracefully within our communities. With a compassionate approach, we operate 24 aged care
homes and four vibrant retirement villages spanning across the nation, from as far north as the Bay of
Islands to the southernmost city of Invercargill.
Our journey began in 2003 with just one care home and since then Radius Care has witnessed
significant expansion, transforming from a single care home to a diverse portfolio. This expansion is a
testament to the trust and confidence placed in us by the people we serve. Since we listed on the NZX
this growth has enabled us to take ownership of the land and buildings at more than half of our care
homes, further solidifying our commitment to providing the best care possible.
Our business comprises three main streams - aged care, independent living units, or retirement village
units, and adjacent businesses that align with our core offering.
Our aged care business continues to perform well with high occupancy and a strong reputation for
clinical care excellence. We now have 24 care homes offering a spectrum of specialist services,
supported by our exceptional people who are dedicated to delivering the highest level of care to our
residents.
Our village business continues to expand with one new village acquired in 2022. Acquisitions remain
a core growth opportunity for Radius going forward.
Finally, we have recently expanded our adjacent offerings with the introduction of a nursing bureau
called RConnect, earlier this year. This has been made possible due to the excellent work done by our
people team in recruiting over 140 nurses via direct channels, primarily from the Philippines, Marshall
Islands, Singapore, Fiji and the Middle East. We are now in the great position of being fully staffed and
therefore able to provide support to other aged care providers. The bureau benefits Radius both by
generating a new income stream but also reduces the costs to the Radius business when our own care
homes use RConnect. I am excited about the opportunity this presents Radius in supporting a sector
that desperately needs nurses.
2023 has been another year where Radius has been able to demonstrate successful execution against
our core strategic pillars as we enter our 20th year of operation.
Over the past two years we have acquired the land and buildings of eight of our leased sites in line
with our stated strategy to further expand our existing facilities. We now own the land and building
at 13 of our 24 care homes and all 4 retirement villages. This represents a substantial shift in our
ownership models and gives us the opportunity to maximise value and drive value-enhancing
developments on existing sites.

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In September 2022 Radius Care acquired Matamata Country Lodge, a beautiful care home in the
centre of Matamata. Radius has already been able to improve this asset through cost and scale
efficiencies which has resulted in its valuation increasing by $4.3m since acquisition. This property also
has good development potential for further retirement village units.
Radius was able to progress its brownfield development pipeline with the completion of a 24-bed
extension at Thornleigh Park in New Plymouth in February 2023. The development pipeline remains
strong with plans in place for an additional 305 care rooms and 112 independent living units.
The senior management team at Radius care was complimented in 2022 with the recruitment of
Wendy Jenkins as Chief Financial Officer and Richard Callander as Chief Operating Officer. Together
with our Chief Executive Andrew Peskett and existing executives Sam Carey, Trish Evers, and Gared
Thomas, the management team is in great shape with the right experience and vision to grow the
business. With new short-term and long-term incentive plans in place the senior executive team is
well incentivised to drive performance in the interest of Radius residents and stakeholders.
I would also like to acknowledge the Board of Radius Care for their ongoing support and commitment
throughout the year.
Before I hand over to Andrew, I wanted to provide an update on the health care sector in New Zealand
and how Radius Care is positioned.
The key to the successful operation of our care homes is our front-line nurses and caregivers who are
critical to providing the quality of care to our residents that Radius is known for. The nationwide
shortages of nurses and lack of funding in the aged care sector has been well recognised and it was
pleasing to see some moves to address this in 2023 with pay disparity funding. While the gap in funding
for nurses has closed, we still have some way to go before our nurses and health Care Assistants have
true pay parity with those in public hospitals. While Radius has been successful in nurse recruitment
to mitigate issues of supply, we continue to advocate strongly for more funding in the sector to
recognise the critical role aged care plays in the health sector in New Zealand.
As Radius Care approaches its 20th year in business this October, we can take great pride in our
achievements. Our primary focus in the aged care sector is to continuously elevate the quality of care
we provide to our residents. Our aim is to foster a nurturing environment that embraces their physical,
emotional, and social well-being, ensuring our residents feel valued and cherished during their time
with us.
Our mission remains twofold: to offer our residents a comfortable environment in which they can age
gracefully, and to generate value for our stakeholders.

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Radius Residential Care Limited
ANNUAL SHAREHOLDERS’ MEETING 2023
CEO’s Address – Andrew Peskett


Brien’s update on strategy has demonstrated that we continue to make progress on a number of
fronts. This has flowed through to our business performance driving record earnings in FY23. Critical
to achieving this is our exceptional people who are at the heart of the daily operations of our business.
It is through these 1,900 individuals that we are able to provide the quality of care that ultimately
generates returns on our assets, which in turn propels us forward and delivers returns to our
stakeholders.
With that in mind I want to firstly talk about our people. While the impact of Covid-19 has diminished,
we still had some tricky times in FY23 with outbreaks particularly in the first half of the year. This,
combined with extreme weather events in the second half of the financial year presented challenges
to our operations. The resilience and dedication of our exceptional people ensured we were able to
continue to deliver the highest quality of care to our residents. If you've been fortunate enough to
witness the care and support that Radius Care Homes offer to your loved ones, I'm confident that you
truly grasp the immeasurable impact our people have. I am very proud to work for an organisation
with an amazing culture of caring that Brien has been instrumental in creating.
While labour pressures have remained in the sector Radius has worked hard to ensure we have front-
line nurses and caregivers at our care homes. Despite the well-publicised shortage of nurses and pay
disparity issues, Radius Care has been successful in recruiting a large number of internationally
qualified nurses to help fill our vacancies and support our existing teams. This recruitment initiative
has been so successful that recently Radius Care has been able to establish a nursing bureau to provide
greater flexibility to our people and reduce the costs of external providers.
In recognition of the incredible service of our people we have now implemented an employee loyalty
bonus issue of shares to the value of $1,000 to all Radius Care employees with a tenure of 10 or more
years.
This is an opportune moment for me to publicly acknowledge and thank all the employees of Radius
Care for their extraordinary compassion they demonstrate in Radius Care Homes, I am certain you
understand the invaluable difference you all make – thanks team!
I would like to reinforce why Radius Care is well positioned to capitalise on a market with very strong
fundamentals. As the demand chart demonstrates, the proportion of New Zealanders over the age of
85 continues to grow and our population also continues to increase in life expectancy. With increased
life expectancy comes an increasing need for high acuity and specialist care. Continuity of care also
becomes important to enable our residents to stay in one place as their level of dependency increases.
The Radius Care portfolio is well positioned to meet these needs as it is focused on the most needs-
based segments of the market with around 87% of our beds certified as high acuity against an industry

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average or around 58%. This also underpins our occupancy levels which remain well above industry
averages.
Radius Care is well positioned to diversify away from its core revenue streams by providing more
choice of rooms and services through our premium offerings and through adjacent offering such as
the Radius Shop and our new nursing bureau service RConnect.
As Brien has highlighted, we have been able to grow our operations through acquisitions and
developments and this remains a core opportunity for future growth for the business.
Looking at FY23 performance, we delivered record underlying earnings and maintained our market
leading key metric of EBITDA per bed. This was a function of increasing revenue by 10%, due in part
to a sustained focus on growing revenue from premium services, and by maintaining operational
efficiency in delivering superior levels of care. We have also grown the portfolio both organically and
through acquisitions and we now have 1,889 care beds (up 105) 148 independent living units (up from
101 in FY22). Over time as we continue to develop the portfolio, we will have care suites and more
retirement village units, which will result in a more diversified portfolio and will increase the breadth
of offerings to our customers, which is critical in this time to have full continuum of care and different
options in care.
Looking at FY24, I am excited about the opportunities for Radius Care. We have hit the ground running
with significant commercial intensity, including executing on a business improvement program that is
already reaping many rewards through streamlined operations and portfolio optimisation. We're very
excited to drive these improvements to ensure that we continue to be the clear industry leader in
care. Our first quarter underlying EBITDA results are significantly ahead of the FY23 first quarter and
we anticipate that this trend will continue as we look to outperform last year’s underlying EBITDA
performance.
We have recently been successful in receiving approval from our bank to implement a debt
management program which includes the disposal of some non-core assets to reduce our debt and
provide capacity to grow. We are now making good progress on asset sales in order to meet the bank
requirements.
The Government recently confirmed the latest pay funding arrangements from 1 July 2023 for the
sector and while it does not go far enough to address the significant years of underfunding which has
forced some operators to shut their doors, it is pleasing to see increased investment in the sector
including better pay rates for our nurses.
Thank you for the chance to present our exciting growth trajectory to everyone present in the room
and those joining us online today. By maintaining a people-focused approach and staying true to our
strategy, we will continue to provide outstanding care and services to those we serve. Together, we
care about care.

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Annual Shareholders Meeting
3 A u g u s t 2 0 2 3

2FY23 ASM
BrienCree
Executive Chair
Duncan Cook
Executive Director
BretJackson
Independent Director
Mary Gardiner
Independent Director
Hamish Stevens
Independent Director
BoardofDirectors
B r i e n C r e e –E x e c u t i v e C h a i r

3FY23 ASM
At a Glance
Our Strategy
Since listing on the NZX in December 2020,
we have been executing our growth
strategy.
We’ve acquired two other aged care
facilities and two small retirement villages.
We’ve purchased eight of our leased
properties.
We are also optimising our existing portfolio
through increased premium charging and
rolling out Occupation Right Agreements on
care suites at selected development sites.
Our Team
1,750+ employees, led by a
management team with strong aged
care credentials.
Founder Brien Cree, remains committed
to the business and is an Executive
Chairmanfocused on driving Radius
Care’s growth.
Recent appointment of Andrew Peskett
as CEO, Wendy Jenkins as CFO and
Richard Callander as COO, brings further
leadership and operational expertise to
our management team.
Our Operations
We operate 24 aged care facilities across
New Zealand, comprising 1,880+ care
beds. Radius Care owns 13 of these
facilities and leases 11.
Radius Care also owns and operates four
retirement villages comprising 148 units.
Our Purpose
To be New Zealand’s leading provider
of healthcare services, enabling our
residents to age in place and to deliver
returns to shareholders through capital
growth and tax-paid distributions.
Our Focus
Our aged care offering is focused on the
high acuity and specialist care segment of
the market.
This segment has the strongest expected
demand growth.
Radius Care has the highest per Care Bed
EBITDAR margins across the industry, as
well as strong barriers to entry.
1,750+
Employees
1,880+
Care Beds
92.7%
Care Beds
7.3%
ILUS
B r i e n C r e e –E x e c u t i v e C h a i r

4FY23 ASM
1
Strategy OverviewBrien Cree, Executive Chair
2
Business UpdateAndrew Peskett, Chief Executive Officer
3
Q&A Opportunity
4
Resolutions and Voting
5
General Business
2023 ASM Agenda
B r i e n C r e e –E x e c u t i v e C h a i r

Strategy and growth
plan overview

6FY23 ASM
We Care About Care
Supporting our senior community through a diverse and growing offering.
4 Retirement Villages
148 Units
IndependentLivingUnits
Apartments
Villas
Rest Home
Hospital
Dementia
Palliative
Respite
24 Care Homes
+1880 Beds
Aged Care Service
Young
Persons
Disabled
Other Services
Radius ShopRConnect
B r i e n C r e e –E x e c u t i v e C h a i r

7FY23 ASM
Strategy Update
Since listing Radius has demonstrated successful execution against its core strategic pillars.
Greater control over strategic
sites, allowing value
enhancing initiatives to be
implemented.
Acquired four Ohaupo Properties (settled 5 August 2021).
Acquired four UCG Properties (settled 6 May 2022).
Acquisition of
strategically important
facilities operated by
Radius Care.
Opportunistic
value accretive
acquisitions.
Grow the portfolio organically
by taking advantage of a
higher fragmented market.
Acquisition of Clare House (settled 1 November 2021).
Acquisition of Matamata Country Lodge (settled 29 September 2022).
Brownfield
developments.
Greenfield
developments.
Add value to the portfolio
while expanding into new
products like care suites while
reducing execution risk.
Selective development of
new villages aligned with
Radius Care’s focus on care.
Completed Thornleigh Park 24 bed extension on budget.
Brownfield potential identified at owned sites comprising six care
beds, 169 care suites and 18 independent living units.
Further work undertaken to prepare for Northwood village
development in Belfast, Christchurch likely to commence in FY25.
B r i e n C r e e –E x e c u t i v e C h a i r

8FY23 ASM
Acquisition of strategically important operated sites
Eight assets acquired in two years
Taupaki Gables
Elloughton Gardens
Windsor Court
Peppertree
St Joans
Arran CourtFultonHeatherlea
B r i e n C r e e –E x e c u t i v e C h a i r

9FY23 ASM
Opportunistic Acquisitions
Matamata
Country Lodge
81 care beds46 retirement
village units
18 villa development
pipeline

10FY23 ASM
Development Completed
Thornleigh Park
24 care beds
Opened and being
occupied in FY24

11FY23 ASM
Senior
Management
Team
Andrew Peskett
CEO
FEBRUARY 2022
Wendy Jenkins
CFO
JULY 2022
Sam Carey
GM, Sales,
Marketing & Retail
OCTOBER2011
Trish Evers
GM, People
JULY 2017
Gared Thomas
GM, Property
Development
MAY2019
Richard Callander
COO
AUGUST 2022
B r i e n C r e e –E x e c u t i v e C h a i r

12FY23 ASM
Radius St Helenas
Business Update
A n d r e w P e s k e t t , C E O

13FY23 ASM
Our Exceptional People
A n d r e w P e s k e t t –C h i e f E x e c u t i v e O f f i c e r

14FY23 ASM
Strong Market
Demand
0.0%
2.0%
4.0%
6.0%
8.0%
2003200820132018202320282033
Rolling 5
-
year pop CAGR (%)
65 - 85 5-yr CAGR85+ 5-yr CAGR
91.8%
Radius Care
85.7%
Industry
OCCUPANCY AVERAGE
HIGH ACUITY BEDS
87%
Radius Care
58%
Industry
Industry Comparisons
High occupancy with unique exposure towards high acuity care
Demand underpinned by population demographics
Favourable Long
Term Demand
Drivers
Increasing
Diversification of Core
Revenue Streams
Focused Land
Acquisition
Strategy
High Barriers to
Entry
A n d r e w P e s k e t t –C h i e f E x e c u t i v e O f f i c e r

15FY23 ASM
FY23
Business
Overview
Delivering portfolio growth
and an expanded service
offering across New Zealand.
UNDERLYING
EBITDA$M
FY22
FY23
INDEPENDENT
LIVINGUNITS
FY23
FY22
101148
CAREBEDS
FY22
FY23
%BEDSWITH
ACCOMMODATION
SUPPLEMENT
FY23
FY22
17841889
65.868.1
AVERAGE
OCCUPANCY%
UNDERLYING
EBITDARPER
CAREBED$K
FY22
FY23
FY23
FY22
92.591.8
19.919.9
10.714.2
A n d r e w P e s k e t t –C h i e f E x e c u t i v e O f f i c e r

16FY23 ASM
FY24 Outlook
Improved operating performance focused on continuing to
drive market leading returns. Strong start to FY24 with first
quarter underlying EBITDA significantly ahead of FY23.
Execution of a comprehensive business improvement program
including streamlining operations.
Confirmation of an amendment to lending arrangements to
remove equity raise requirement and refocus on non-core
asset sales
Timing of selective developments to be assessed based on
market conditions.
A n d r e w P e s k e t t –C h i e f E x e c u t i v e O f f i c e r

17FY23 ASM
Q&A
Radius Glaisdale

18FY23 ASM
Resolutions
That the directors be authorised
to fix the fees and expenses of
Baker Tilly Staples Rodway as
auditor of Radius Care for the
ensuing financial year.
That Mary Gardiner be re-
elected as a Director of
Radius Care
AUDITOR REMUNERATION
DIRECTOR ELECTION
1.
2.
B r i e n C r e e –E x e c u t i v e C h a i r

19FY23 ASM
Resolutions
That Hamish Stevens be
re-elected as a Director
of Radius Care
That Tom Wilson be
elected as a Director of
Radius Care
DIRECTOR ELECTION
DIRECTOR ELECTION
3.
4.
B r i e n C r e e –E x e c u t i v e C h a i r

20FY23 ASM
GeneralBusiness
Radius Arran Court

21FY23 ASM
Thank You