Ryman completes Retail Entitlement Offer

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

NZX RELEASE

13 March 2025


Ryman completes Retail Entitlement Offer, concluding the Offer
Ryman Healthcare Limited (Ryman) (NZX: RYM) advises that it has successfully completed
the retail entitlement offer component (Retail Entitlement Offer) of its 1 for 3.05 pro-
rata accelerated non-renounceable entitlement offer (Entitlement Offer).
Ryman has raised a total of $1 billion under the Placement and Entitlement Offer announced
on 24 February 2025. This includes gross proceeds of approximately $721 million received
under the Placement and Institutional Entitlement Offer, and approximately $280 million in
gross proceeds under the Retail Entitlement Offer.
The Retail Entitlement Offer was well-supported in the current market climate, with eligible
retail shareholders subscribing for approximately $119 million of new fully paid ordinary
shares in Ryman (New Shares), including approximately $11 million of oversubscriptions.
Eligible retail shareholders who took up their entitlements in full and applied for New
Shares in excess of their entitlements received all of the New Shares for which they applied,
meaning they could maintain their existing percentage shareholding through the Placement
and Entitlement Offer. The effective take up rate by eligible retail shareholders was
approximately 42%.
The approximately 53 million of New Shares not taken up under the Retail Entitlement
Offer have been allocated to the underwriters and/or to sub-underwriters procured by the
underwriters including a range of existing institutional shareholders.
CEO Naomi James said, “We are delighted to have completed this equity raise. We
appreciate the support from our retail shareholders in the face of the challenging market
conditions, as well as the breadth of support received from both new and existing
institutional shareholders who participated strongly in the Placement and the Institutional
Entitlement Offer whilst also providing quality sub-underwriting support for the Retail
Entitlement Offer. This capital raising will enhance Ryman’s financial stability and resilience in
the current market climate and provide the platform required to achieve an improved level
of performance and return to growth as market conditions recover.”

The New Shares offered under the Retail Entitlement Offer are expected to be allotted and
commence trading on the NZX on Monday, 17 March 2025 and will rank equally with
existing fully paid ordinary shares.
ENDS

Authorised by:

Morgan Powell
General Counsel

About Ryman:
Ryman Healthcare was founded in Christchurch in 1984 and owns and operates 49
retirement villages in New Zealand and Australia. Ryman villages are home to 15,300
residents, and the company employs 7,700 staff.

Contacts:
For investor relations information contact Hayden Strickett, Head of Investor Relations, on
+64 27 303 1132 or hayden.strickett@rymanhealthcare.com

For media information contact Camille Middleditch on +64 28 422 3472 or
camille.middleditch@rymanexternal.com

Currency:
Unless otherwise stated, all references to “$” are to the New Zealand dollar.

Not an offer of securities in the United States:
This announcement has been prepared for publication in New Zealand and may not be
released or distributed in the United States. This announcement does not constitute an
offer, invitation or recommendation to subscribe for or purchase any security or financial
product and neither this announcement nor anything attached to this announcement shall
form the basis of any contract or commitment. In particular, this announcement does not
constitute an offer to sell, or the solicitation of an offer to buy, securities in the United
States or any other jurisdiction in which such an offer would be illegal. Any securities
described in this announcement have not been, and will not be, registered under the U.S.
Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any
state or other jurisdiction of the United States and may not be offered or sold, directly or
indirectly, in the United States except in transactions exempt from, or not subject to, the
registration requirements of the U.S. Securities Act and the securities laws of any state or
other jurisdiction of the United States. The New Shares to be offered and sold in the Retail
Entitlement Offer may only be offered and sold outside the United States in “offshore
transactions” (as defined in Rule 902(h) under the U.S. Securities Act) in reliance on
Regulation S under the U.S. Securities Act.