First quarter trading update

NZX RELEASE

11 July 2025


First quarter trading update

Ryman Healthcare reports 337 sales of occupation right agreements (ORAs) for the quarter
ending 30 June 2025 (Q1 FY26), including 73 new sales and 264 resales. Sales figures reflect
retirement village units only and exclude refundable accommodation deposits (RADs) and
ORAs on aged care accommodation.

Total sales were 11 % below the same period last year, with resales (down 5%) performing
better than new sales (down 28%). Sequentially, total sales were up 12% on Q4 FY25.

Gross contracts (lead indicator) have continued to improve, climbing to 91% of the last two
prior-year comparatives, up from 75% in Q4 FY25 and 60% in Q3 FY25. This uplift reflects a
sustained emphasis on sales effectiveness across a range of initiatives including targeted
promotions and sales incentives, price optimisation, and continued investment in front-line
development.

CEO Naomi James said, “We have continued to see improving contracting and sales levels
through the quarter as we rebuild sales momentum at a higher level of DMF compared to
the past. The improving contracting momentum has been seen across most regions,
including in Auckland which has experienced more challenging property market conditions
in recent times. We still expect variability throughout the year given the flow-through
impacts of softer contracting in the second half of last year and mixed market conditions.”

Occupancy in Ryman’s mature aged care centres remained strong at 96. 2% in Q1 FY26, up
slightly compared to 96.0% in Q4 FY25. Recently opened care centres continue to fill well,
with average unoccupied beds at developing care centres reducing by 54 beds to 256 in Q1
FY26. The main building at Kevin Hickman is now open and welcomed its first care
residents in early July.

FY26 sales of ORAs are currently tracking towards the upper end of the previously guided
1,100 – 1,300 (FY25: 1,523).



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 15,200
residents, and the company employs 7,800 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 media@rymanhealthcare.com




Appendix 1: Sales of occupation right agreements (ORAs) for retirement village
units

Sales volume (#) FY25 FY26
Q1 Q2 Q3 Q4 Q1
New sales
Independent
79 90 93 71 56

Serviced
22 33 16 12 17
Total
101 123 109 83 73
Resales
Independent
123 155 137 100 133

Serviced
156 169 148 119 131
Total
279 324 285 219 264
Total
Independent
202 245 230 171 189

Serviced
178 202 164 131 148
Total
380 447 394 302 337

Notes: Includes ORA sales on retirement village units only and exclude ORAs and RADs on aged care accommodation.
Sales are recognised when a resident takes occupation of a retirement village unit, which typically aligns with settlement.