1Q24 Metrics – Sales of Occupation Rights

Summerset Group Holdings Limited
Level 27 Majestic Centre, 100 Willis St, Wellington
PO Box 5187, Wellington 6140
Phone: 04 894 7320 | Fax: 04 894 7319
Website: www.summerset.co.nz

NZX & ASX RELEASE

9 April 2024


1Q24 METRICS – SALES OF OCCUPATION RIGHTS

Summerset Group reported 255 sales for the quarter ending 31 March 2024, comprising 134
new sales and 121 resales.

“Total sales for Q1 this year were 21 per cent higher than the same time last year, with both new
and resales increasing year-on-year,” says Summerset CEO Scott Scoullar.

“Our highest selling villages of the quarter were Te Awa (Napier), Papamoa and Bell Block (New
Plymouth). All three villages have had their main building open in the last six months and are
selling very well.

Mr Scoullar said the company remains on track to deliver the 675-725 homes in 2024 including
significant deliveries such as its Papamoa village main building which opened in Q1 and the
opening of the St Johns village in the second half of the year.

“We also remain on track to deliver the main building at our Boulcott (Lower Hutt) village later
this year. The building will include an indoor pool overlooking the Boulcott Farm Heritage Golf
Course.”

Summerset hit a major milestone in Q1 with the first Australian residents moving into Summerset
Cranbourne North (Melbourne, Victoria) in March and more contracts expected to settle at the
village in Q2.

“Welcoming our first residents was a major step for the Australian team,” says Mr Scoullar.

ENDS

YTD24 SALES OF OCCUPATION RIGHTS

1Q24 YTD24
New sales 134 134
Resales 121 121
Total 254 254

FY23 SALES OF OCCUPATION RIGHTS

1Q23 2Q23 3Q23 4Q23 FY23
New sales 115 126 133 186 560
Resales 95 147 127 174 543
Total 210 273 260 360 1,103


NOTES:

• Occupation right sales volumes represent the number of occupation rights settled in the period and differ from
retirement unit deliveries which represents the number of new homes for which construction was completed in the
period.
• The quarterly sales metrics provided may not necessarily reflect NZ IFRS financial performance for the
corresponding period. In particular, key items in the income statement, such as the fair value movement of
investment property, are dependent on several variables, of which one is occupation right sales. NZ IFRS
financial performance is calculated for the periods ending 30 June and 31 December each year.


For investor relations enquiries: For media enquiries:
Will Wright Logan Mudge
Chief Financial Officer Head of Communications
will.wright@summerset.co.nz logan.mudge@summerset.co.nz
+64 27 477 9486


ABOUT SUMMERSET

• Summerset is one of the leading operators and developers of retirement villages in New
Zealand, with 38 villages completed or in development nationwide
• In addition, Summerset has six proposed sites at Half Moon Bay (Auckland), Rotorua
(Bay of Plenty), Palmerston North (Manawatu), Masterton (Wairarapa), Rolleston
(Christchurch), and Mosgiel (Dunedin)
• Summerset also has two villages in development (Cranbourne North and Chirnside Park)
and five other properties in Victoria, Australia (Craigieburn, Drysdale, Mernda, Oakleigh
South and Torquay)
• Summerset provides a range of living options and care services to more than 8,000
residents