Third Age Health Delivers Solid Q1 FY26 Performance

Third Age Health delivers Q1 FY26 underlying NPATA
1
of $752k up
21.5% and 4.0% on Q1 FY25 and Q4 FY25 respectively.
Q1 FY26 Business Highlights - Unaudited Financial Performance

• Services provided to 90 Aged Residential Care (“ARC”) facilities at the end of Q1 up 9 or
11.1% compared to PCP
2
.
• The enrolled patient population across both ARC and General Practice at the end of Q1 was
25,757, down 0.6% compared to PCP. ARC enrolments grew 3.8% to 5,504, while a 1.7%
decline in General Practice enrolments, largely due to patients following a departing GP,
offset this growth.
Q1 FY26 Financial Highlights (Unaudited)
• Group revenue up +11.5% over PCP to $5,031k for the quarter and up 4.3% over Q4 FY25
(Q1 FY25: $4,511k, Q4 FY25: $4,822k)
• Revenue from ARC business up 20.1% over PCP to $3,171k, up 5.4% over Q4 FY25 (Q1 FY25:
$2,641k, Q4 FY25: $3,009k).
• Underlying NPBTA
3
up 22.4% over PCP at $1,005K and 3.1% over Q4 FY25 (Q1 FY25: $821k,
Q4 FY25: $975k)
• Underlying NPATA up 21.5% over PCP to $752k and 4.0% over Q4 FY25 (Q1 FY25: $619k, Q4
FY25: $723k)
• NPAT
4
up 24.8% over PCP to $650k and 4.3% over Q4 FY25 (Q1 FY25: $521k, Q4 FY25: $623k)


1
Underlying NPATA (Net Profit After Tax before Amortisation) is adjusted for non-cash amortisation charges arising as a
result of purchase accounting rules.
2
PCP refers to prior comparable period i.e. Q1 FY25.
3
Underlying NPBTA is adjusted for non-cash amortisation charges arising as a result of purchase accounting rules.
4
NPAT at 28% for Q1 FY26 and Q1 FY25 (based on an estimated calculation of the tax for the respective periods).

Financial Highlights (unaudited) $'000
Q1 FY26 Q1 FY25 YOY
change
Q4 FY25 Quarter
change`
Revenue 5,031 4,511 +11.5% 4,822 +4.3%
Underlying EBIT 1,083 915 +18.4% 1,041 +4.0%
EBIT Margin 21.5% 20.3% +1.2% 21.6% -0.1%
Underlying NPBTA
3
1,005 821 +22.4% 975 +3.1%
Underlying NPBTA% 20.0% 18.2% +1.8% 20.2% -0.2%
Underlying NPATA
1
752 619 +21.5% 723 +4.0%
Underlying NPATA% 14.9% 13.7% +1.2% 15.0% +0.0%




NPAT
4

650 521 +24.8% 623 +4.3%
NPAT%
12.9% 11.6% +1.3% 12.9% +0.0%
Diluted earnings per share
5.96 4.59 +29.9% 5.95 +0.2%
Ordinary dividends per share (cents)
4.00 3.28 +22.0% 3.98 +0.5%
Return on Equity (TTM)
63.9% 47.9% +16.0% 60.9% +3.0%
Return on Capital Employed (TTM)
43.2% 28.4% +14.8% 42.8% +0.4%

Dividend Declaration
The Board has adopted an updated dividend policy
i
, moving from a payout ratio to a fixed quarterly
dividend of 4 cents per share to provide shareholders with greater certainty of regular returns while
retaining flexibility to reinvest for growth.
A fully imputed dividend of 4 cents per share has been declared for Q1 FY26, consistent with this
updated policy.
The Board of Directors of Third Age Health Services Limited has approved the release of this
document to the market.

About Third Age Health (NZX:TAH)
Third Age Health is New Zealand’s only specialised provider of general practice health care services
for older people living in retirement villages, private hospitals, secure dementia units as well as in
communities across New Zealand. A dedicated Third Age Health clinical team provides onsite clinics,
rostered rounds and after hours on-call healthcare services aimed at supporting the health and
wellbeing of older people to improve quality of life. As well as providing clinical services for 90 aged
care facilities throughout New Zealand, Third Age Health owns several general practices providing
quality primary healthcare to people of all ages.
www.thirdagehealth.co.nz

i
https://thirdagehealth.co.nz/dividend-policy/