Radius Care Upgrades FY26 Outlook and Releases ASM Material

7 August 2025

Radius Care Upgrades FY26 Outlook and Releases ASM Materials
Radius Residential Care Limited (NZX: RAD) (Radius Care) is holding its Annual
Shareholders’ Meeting today at 10:30am.
The presentation includes an upgraded outlook for FY26.
FY26 Upgraded Outlook
Radius Care provided a trading update on 13 June 2025, indicating that the Group’s
Underlying EBITDA
1
for the first half of FY26 was expected to be between $12.0m and
$15.0m, compared to $10.6m reported in 1H25.
As a result of continued strong trading during the first four months of FY26, 1H26
Underlying EBITDA is now expected to be in the range of $14.0m to $16.0m.
Improved EBITDA and interest cost savings will deliver additional growth in AFFO
1

and Net Profit After Tax compared to 1H25.
The strong performance has been driven by several factors, including:
• Further improvements in occupancy, averaging 94.8% for the four months
ended 31 July 2025. Occupancy for the month of July 2025 was 95.2%.
• Continued strong mix of hospital, ACC and other higher acuity / higher
revenue occupancy.
• Realised resales gains ahead of the same period in the prior year.
Copies of the meeting presentation and the Chair and CEO addresses are attached
in accordance with Listing Rule 3.19.2.
ENDS
Media and Investor Contacts
Andrew Peskett
Chief Executive Officer
Phone: +64 21 747 363
Email: andrew.peskett@radiuscare.co.nz

Jeremy Edmonds
Chief Financial Officer
Phone: +64 22 650 9354
Email: jeremy.edmonds@radiuscare.co.nz



About Radius Care
Radius Residential Care Limited was founded in 2003 and listed on the NZX in December 2020. Radius
Care provides essential healthcare services to elderly New Zealanders, offering the full range of
accommodation and care options in communities throughout the country. Today, Radius Care operates
24 aged care facilities, of which it owns 12 and leases 12. Four of the owned facilities also include retirement
villages and Radius Care’s online shop sells specialist assisted-living products. The company employs over
2,000 people, including highly qualified healthcare staff who are committed to providing the very best in
nursing care, and has expanded its services, establishing RConnect, a Nurse and Carer bureau and Home
Care provider. A 51% holding in Cibus Catering was acquired in October 2024. Cibus provides menu
planning and nutrition management services to the aged care sector, as well as full-service kitchen and
food management to 25 care homes across New Zealand, including 12 Radius Care sites. For more
information visit radiuscare.co.nz or check out our Facebook page @RadiusCareNZ.

1
These measures are non-GAAP (unaudited) financial measures. A reconciliation between the financial
statements and these measures is included in the FY25 Investor Presentation.

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Annual Shareholders’ Meeting
7 August 2025
Andrina to update photo

22025 ASM
Brien Cree
Founder & Executive Chair
Duncan Cook
Executive Director
Bret Jackson
Independent Director
Mary Gardiner
Independent Director
Hamish Stevens
Independent Director
Your Board of Directors
Tom Wilson
Independent Director
Brien Cree – Founder and Executive Chair

32025 ASM
Executive Leadership
Brien Cree – Founder and Executive Chair
Andrew Peskett
Chief Executive Officer
Jeremy Edmonds
Chief Financial Officer
Richard Callander
Chief Operations Officer
Trish Evers
General Manager, People
Sam Carey
General Manager, Revenue
Shereen Singh
General Manager, RConnect
LEFT TO RIGHT
Antony Challinor
Chief Digital Officer
Brien Cree
Founder & Executive Chair

42025 ASM
No.1
Strategy & Growth
Brien Cree, Executive Chair and Founder
No.2
Business Update
Andrew Peskett, Chief Executive Officer
2025 ASM Agenda
No.3
Q&A Opportunity
No.4
Resolutions & Voting
No.5
General Business
Brien Cree – Founder and Executive Chair
John from Radius Hampton Court

52025 ASM
Strategy & Growth
Brien Cree, Executive Chair and Founder
01
Elizabeth enjoying the newly refurbished
room at Radius Taupaki Gables, Auckland.

62025 ASM
2,000+
Employees
1,898
Care Beds
24
Care Homes
4
Villages
At a glance

Aged Care Provider
Providing high-acuity care, delivered by
teams who understand the complexity
and dignity of ageing.
RConnect
Staffing solutions for Radius Care
and external partners.
Radius Shop
Accessibility products sold direct
to online customers.
Cibus Catering Limited
Menu planning and kitchen
management services.
Radius Care is a connected system of health services designed to support people
who require extra care, whether they are in their home, or in one of our care homes.
Brien Cree – Founder and Executive Chair
Nola and Bruce from Radius Hampton Court

72025 ASM
Built for growth
and resilience

Brien Cree – Founder and Executive Chair
Grow Scale
Targeted Mergers and
Acquisitions
Brownfield Developments
Greenfield Developments
Diversify Revenue
Grow RConnect and
In-Home Support
Expand Radius Shop
Expand into
Complementary Health
Services
RadPro
Develop RadPro as an
Industry Leading Aged
Care Operating System
As the health needs of
New Zealanders
change, so does the
role we play. We are
broadening who we are,
who we support, how
we deliver care and
where we can make the
most impact.

82025 ASM
Capital-light expansion

ST ALLISA, CHRISTCHURCH
•109 bed care home, purchase completed May 2025.
•Property leased to Radius Care on long term lease.
•Will deliver material EBITDA growth in FY26.
LEASED NEW-BUILD CARE HOMES
•Capital-light expansion focused on new-build 100 bed
care homes funded by private investors and leased to
Radius Care.
•First Heads of Agreement signed.
•Active discussions are progressing with investors to
deliver sites from FY27.
Acquisitions
Greenfield & Brownfield Developments
Brien Cree – Founder and Executive Chair

92025 ASM
Our growth in motion

1H25 results
released
39% profit growth.
Cibus Acquisition
51% acquisition with
$4.1m revenue uplift.
ACC Rehab
Services
Nationwide roll-out
for post-surgical and
trauma care.
St Allisa Acquired
109 beds added via
leaseback.
1H26 $14-$16m
underlying EBITDA
1
$10.6m EBITDA reported
1H25.
Jarden initiates full
research coverage.
4% Funding
Increase
Confirmed uplift for
govt-funded residents.
Oct 24
Nov 24Mar 25May 25Jun 25
Aug 25
Oct 24
Brien Cree – Founder and Executive Chair
1.Earnings before interest, tax, depreciation and amortisation. Underlying EBITDA is a non-GAAP (unaudited) financial measure.

102025 ASM
Our system for better care

RadPro is Radius Care’s unique
operations model, designed to
drive clinical quality, staff
engagement and efficiency.
Built in-house and scalable across
the sector.
Brien Cree – Founder and Executive Chair

112025 ASM
Depreciation (=sustaining capex)
Investment required to maintain quality of existing
assets
= Surplus cash for allocation
Maintain financial resilience and flexibility
Medium term target: Net Bank Debt to EBITDA
1
Ratio below
2.5x.
Owned property: 25%-50% of our total care home portfolio.
Invest in core operations
Maintain and improve quality of care offering by investing in
operating assets and technology base.
Distributions
Ordinary dividend pay-out
ratio of 40% to 70% of AFFO
(fully imputed).
Sustained dividend
growth.
Growth
Disciplined investment in
high return capacity
expansion capex.
Invest in capital-light
adjacent services.
Capital Management FrameworkDividend Policy
Underlying EBITDA
1
Our capital framework
= AFFO
2
(Available Funds From Operations)
Bank interest and cash tax
Ordinary Dividend
(40% to 70% of AFFO)
—
Debt
repayment
Mergers,
Acquisition;
Growth
Capex
Special
Dividends or
Share
Buybacks
1.Earnings before interest, tax, depreciation and amortisation. Underlying EBITDA is a non-GAAP (unaudited) financial measure.
2.Available Funds From Operations is a non-GAAP (unaudited) financial measure which is reconciled to GAAP measures.
—
—
Brien Cree – Founder and Executive Chair
Share Buyback
920k
Acquired for $280K
Between 29 Dec 2024 and 25 Jul 2025
Average Buyback price 30.4cps

122025 ASM
Business Update
Andrew Peskett, Chief Executive Officer
02
Irene with Tony
Radius Althorp, Tauranga

132025 ASM
Strong returns

1.Earnings before interest, tax, depreciation and amortisation. Underlying EBITDA is a non-GAAP (unaudited) financial measure.
2.Excluding Arran Court
3.Earnings before interest, tax, depreciation, amortisation and rent. Underlying EBITDAR is a non-GAAP (unaudited) financial measure.
Andrew Peskett – Chief Executive Officer
Underlying EBITDA
1
$23.5M
+20% from $19.5M
2
Underlying EBITDAR
3
Per

Care

Bed
$27.9K
+13% from $24.7K
Net Debt
$67.7M
-8% from $73.5M
1.45cps
Total FY25 Cash Dividend
0.70cps in FY24
2.01cps gross fully imputed dividend
Bunty and Simone
Radius Glaisdale, Hamilton

142025 ASM
Culture in action

Company-Wide Staff
Turnover
17%
Andrew Peskett – Chief Executive Officer
Radius Millstream, Ashburton
Record low.
Decreasing 30% year-on-year.
Net Promotor Score for
Care Home Managers
+74
Leaders Promoted
Internally
60%
“Working a shift reminded
me this work takes heart.
And our people have it in
abundance.”
– Andrew P
86%
Of Care Homes Audited in
FY25 Received 4-Ye a r
Certification.
1
1.Radius Care has 16 care homes with four-year certification, with another four due for assessment in early FY26.
Radius
Windsor Court
team
members
making
breakfast at
Balloons over
Waikato

152025 ASM
Starting FY26
with strong
momentum

1QFY26
Trading has been strong in 1QFY26
with all key metrics ahead of FY25.
Interest Costs
Extension of core debt facilities
increasing cost savings by
$1.0m.
Village Resales
Strong village resales with stock
selling quickly.
High Acuity & ACC
Specialised care provider with a
unique exposure to hospital level
and ACC patients.
Occupancy
94.8% July year to date.
89%
90%
91%
92%
93%
94%
95%
96%
Average Occupancy
Andrew Peskett – Chief Executive Officer
Nola from Radius Hampton Court, Napier
FY25
FY26
Outlook
1H26 underlying EBITDA
1

of $14m to $16m.
1.Earnings before interest, tax, depreciation and amortisation. Underlying EBITDA is a non-GAAP (unaudited) financial measure.

162025 ASM
We’re built on care
At Radius Care, our model is designed
for long-term resilience.
Strategic acquisitions, expansion into
adjacent offerings and ongoing
RadPro refinements continue to
strengthen our business.
Our commitment to exceptional care
by exceptional people drives strong
shareholder returns through capital
growth and fully tax-paid
distributions.
Andrew Peskett – Chief Executive Officer
Top Left Clockwise: Beyrl baking with Irene. CEO Andrew on shift with HCA Rommel, gaining frontline
insight. Ladies from Radius Glaisdale enjoying a sunny afternoon
.

172025 ASM
Q&A
Adeline with Irene
Radius Hampton Court, Napier

182025 ASM
Resolutions
That the Directors are authorised
to fix the remuneration of Baker
Tilly Staples Rodway as auditor of
Radius Care for the ensuing
financial year.
That Bret Jackson who, in
accordance with NZX Listing Rule
2.7, retires and is
seeking re-election, be re-elected
as a Director of Radius Care.
No.1
Auditor’s Remuneration
No.2
Re-Election of Bret Jackson
Brien Cree – Founder and Executive Chair
The issue of share rights to
employees of Radius Care,
entitling the holders to acquire up
to 11.364 million ordinary shares,
on the terms recorded in
Explanatory Note 3 of the Notice
of Meeting, is approved for the
purposes of NZX Listing Rule
4.2.1.
No.3
LTIP Scheme

192025 ASM
General
Business
Residents enjoying a cup of tea
Radius Hampton Court, Napier

202025 ASM
Thank Yo u
To our shareholders, residents,
families, and the incredible people
who make Radius Care what it is
today, thank you.
Elizabeth with Laurel Winwood
Radius Taupaki Gables, Auckland

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Page

1

Radius Residential Care Limited
Annual Shareholders’ Meeting 2025
CHAIR’S ADDRESS – BRIEN CREE
Radius Care is New Zealand’s leading provider of high acuity, aged residential care and
health services, operating 24 aged care homes across New Zealand and four retirement
villages. We are a leading provider of essential and specialist healthcare services, with
our 2,000 exceptional people delivering exceptional care to our residents and delivering
returns to shareholders through capital growth and tax-paid distributions.
At Radius Care, we take pride in being New Zealand's leading provider of high acuity,
aged care, dedicated to ensuring the well-being of our residents as they age gracefully
within our residential communities and increasingly in their homes. With a deep
understanding of what quality, individualised care entails, we operate 24 aged care
homes and four vibrant retirement villages spanning from as far north as the Bay of
Islands to the southernmost city of Invercargill.
At a time when other retirement operators are scaling back aged care provisions, we are
in growth mode, as summarised by the key items below:
1. Profits and cash flow have increased due to operational efficiencies, high
occupancy rates (currently over 95%), and a focus on high-acuity care beds.
2. We are expanding through "capital-light" acquisitions, revenue diversification
and extending home care services as a health services company.
3. We have several opportunities to acquire land and have several landlord funded
building contracts to build 80 to 100 bed care homes throughout New Zealand.
These brand-new purpose-built care homes will help to partially alleviate the
looming shortage of care beds.
We acquired the 109-bed St Allisa care home in Christchurch in May 2025. Aligning with
our capital-light growth strategy, the land and buildings were sold to a private investor
and leased back to Radius Care – we acquired the business for just under $1.1 million. St
Allisa is expected to contribute to Radius Care’s earnings from the second half of FY26.
This acquisition demonstrates the favourable economics of targeted expansion primarily
through leased care homes.
In October 2024, we acquired a 51% stake in Cibus Catering Limited. Cibus is a specialist
catering provider that prepares over 6,000 daily meals for aged care homes and
boarding schools. Cibus contributed $4.1 million in revenue and $0.5m EBITDA to Radius
Care for the period from October 2024 to March 2025. This acquisition strengthens
Radius Care’s diversification strategy and positions Cibus for growth in the aged care and
broader food service sectors.
Radius Care has also expanded into In-Home Care services, providing support to private
and ACC-funded clients. From March 1, 2025, we began to offer hospital-level
rehabilitation services nationwide to ACC clients. These services focus on recovery,
independence, and quality of life, addressing issues such as spinal injuries, traumatic
brain injuries, musculoskeletal injuries, and post-surgical rehabilitation.

Page

2

This move aligns with government strategies and public demand, as New Zealand's
aging population increasingly prefers to remain at home with support. The initiative
helps ease hospital congestion, reduce inpatient costs, and expand Radius Care's market
reach while staying true to our core mission of delivering personalised, high-quality care.
The Radius journey began over twenty years ago, with just one care home, and a strong
personal motivation to build a business that puts quality care at the heart of its
operations. Through our unique processes, systems, culture, and people, we’ve
developed RadPro. RadPro is what makes us different. Fundamentally, RadPro is an
operational template that incorporates and supports resident-centric decision-
making, continuous improvement, and care home leadership.
We expect to progressively invest in advanced technologies and AI to support RadPro.
As an example, we’ve already been able to significantly enhance the effectiveness of our
staff training modules by incorporating multilingual podcasts. These podcasts help to
build a deeper understanding of the training content, increase engagement, and keep
staff more connected to the learning process. As a result, our training programs are now
more inclusive, accessible, and impactful across our diverse workforce.
Whilst it is primarily used to drive our current business efficiently, we consider that it can
be utilised both within New Zealand and overseas by companies that are currently
struggling to make care financially sustainable.
An updated Capital Management Framework, including a revised dividend policy, was
approved by the Board in May 2025. This updated framework is designed to allocate
investment in capital-light growth, while supporting reinvestment in our core operating
assets, sustainable dividend growth and reduced leverage.
With the economics in favour of leased care homes, we expect the majority of future care
homes, whether newly built or carefully targeted acquisitions, to be supported by private
property investors.
Our strong FY25 performance enabled us to continue to pay dividends. The total FY25
dividend was 1.45 cents per share, representing a gross, fully imputed dividend of 2.01
cents per share. This dividend was 47% of AFFO (Available Funds From Operations), in
line with our target dividend pay-out ratio of 40% to 70%. This dividend payment
supported both sustainable dividend growth whilst maintaining room for us to invest
and expand.
After a successful year, we are further anticipating growth across key financial metrics in
FY26, being Underlying EBITDA, EBITDAR per bed and AFFO.
We continue to be the leaders in aged care in New Zealand and as always, we owe
enormous thanks to our residents and their families for their continued support, and to
our exceptional people for their resilience and passion for delivering exceptional care.

Page

3

Radius Residential Care Limited
Annual Shareholders’ Meeting 2025
CEO’S ADDRESS – ANDREW PESKETT
Good morning all. I am delighted to be presenting to you at my fourth Annual
Shareholder Meeting as CEO with the business performing well and beginning its
ambitious growth pathway.
Our focus on enabling our exceptional people to provide exceptional care to our 2,000
residents is producing strong customer feedback, audit results, financial results and
returns to shareholders.
Brien’s update touched on our excellent performance in FY25. To re-cap, we delivered
the following record results:
- EBITDAR per occupied bed of $28k.
- Underlying EBITDA of $23.5m.
- Operating Cash Flow of $20.1m.
- Net debt down from $73.5m to $67.7m.
As always, it is our exceptional people, our nurses, our healthcare assistants, activities
coordinators, gardeners, maintenance people, kitchen workers, and all others at Radius
that do such a wonderful job in providing the exceptional care to our residents every
single day of the year. We call it EPEC (Exceptional People, Exceptional Care).
At Radius Care, our strength lies in our people, our systems and our processes. From
frontline staff to Care Home Managers, we continue to build a workforce that is
committed, skilled, and trusted. Our investment in leadership, training, and staff
wellbeing is about more than just running excellent care homes - it’s about creating a
culture of care. The result is evident in the voices of our staff, the loyalty of our teams and
the care we provide to our residents.
Following FY24’s theme, our employees continue to be well engaged. We had a record
employee net promoter score of 74 for our Care Home Managers. Added to that, 60% of
our Regional and Care Home Managers have been promoted from within the business,
which shows that we are hiring and retaining the right people who are dedicated to
Radius and the work that we do.
Radius Care builds talent within our own workforce, beginning with hiring
compassionate people who have strong ties to their communities. When managerial
roles arise, we start by looking at our own talent to identify those ready to step up and
take on leadership roles.
Our company-wide staff turnover was reduced from 27% last year to 17% in FY25,
continuing the downward trend.
Our latest care home audit results demonstrate the top-tier quality of our care home
staff and systems with Radius Care achieving our highest-ever audit certification levels in
FY25. Since 1 April 2024 out of the 12 care home audits undertaken, 10 received four-year
certifications which is the maximum possible audit period granted by the Ministry of
Health. This indicates high-quality care standards, strong compliance and operational
excellence.

Page

4

In recognition of the incredible service of our people, the Board continues to support the
issuance of a long-service loyalty share scheme which provides those employees who
have been with Radius Care for 10 years or more to a bonus issue of shares to the value
of $1,000.
Before I move on to cover our current performance, I want to extend an enormous
thanks to all our amazing nurses, carers and all our exceptional team who provide
uncompromised care and support to our residents at Radius care homes around the
country.
I have recently worked an eight-hour shift as a Health Care Assistant – an afternoon shift
until 11pm at Radius Taupaki. I can tell you that the compassion, courage and
commitment of our exceptional people is difficult to put into words. The bonds that I
formed with our Radius Carers and our residents through this shift will remain with me
for a long time. I am scheduled to work a morning shift at Waipuna later this month.
Thank you to all the 2,000 people that work so hard for Radius Care. I am very proud to
support you and work for an organisation with such a focus on care and its people.
I’d like to now provide an update on our performance in the first four months of FY26.
We provided a trading update in June, indicating that our key metric of underlying
EBITDA was likely to be in the range between $12m and $15m for the first half year. This
compares to last half year of $10.6m. Strong trading has continued since this update. For
the first half of FY26 we now expect to deliver underlying EBITDA in the range of $14m
to $16m. As previously reported, this is a result of a number of improved metrics
including:
- Occupancy in the late-94% range year to date, with a current occupancy of 95.8%.
- Strong mix of higher acuity/revenue residents such as hospital level and ACC
patients.
- Strong village resales with vacant stock selling quickly.
We also extended our core debt facility with the ASB to three years (with reduced margin
and line fees). As reported in June, interest cost savings in excess of $1.0m should provide
additional growth in AFFO and Net Profit.
We can also confirm that the funding increase for government funded residents has
been agreed, effective from 1 July 2025 at 4%. This was slightly ahead of our expectation.
As covered earlier, we are in a period of growth. Our focus on high acuity care, continued
refining of RadPro, expansion into adjacent offerings, and strategic acquisitions, is
setting us up well for future success.
In closing, we are really focussed on continuous improvement at Radius Care. Our
continued focus on delivery of exceptional care, our record trading in the first four
months of FY26 and our many and significant growth opportunities have us looking to
the future with considerable optimism.
Thank you to all our shareholders for the chance to present Radius Care’s results and
growth story today.