Radius Residential Care Limited/Announcement

Radius Care Triples 1H26 NPAT

Half Year Results18 November 2025RADHealthcare

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19 November 2025

Radius Care Triples 1H26 NPAT
Radius Residential Care Limited (NZX: RAD) today announced its half year results for
the six months ended 30 September 2025.
Highlights:
• Net Profit After Tax was $6.3m, up +221% on the previous comparative period
(pcp).
• Earnings per Share was 2.2cps, up +1.5cps on the pcp.
• Available Funds from Operations
1
(AFFO), was $7.2m, up +99% on the pcp.
• Underlying EBITDA of $14.9m
2
, up +41% on the pcp.
• Interim cash dividend of 1.0 cent per share (fully imputed), up +54% on the
previous interim dividend of 0.65 cents per share.
• Operating Cashflow of $13.3m, up $6.7m on the pcp.
• Occupancy was 95.0% for the period, up 2.7 percentage points on the pcp.
• Annualised EBITDAR per bed was $29.9k
3
for the 12-month period ended 30
September 2025, up +7% on the $27.9k reported for FY25.
• Financing costs decreased by $0.7m, or -21%, on the pcp.
People
“Radius Care’s exceptional people have continued to deliver exceptional care to our
growing number of residents. Radius Care has once again delivered industry-
leading results and strong earnings growth. I’d like to give immense thanks to every
member of our team and welcome the new team and residents at St Allisa to the
Radius Care community” said Andrew Peskett, Radius Care’s CEO.
Certification audit results achieved during the first half of this financial year
remained strong. Currently, 16 of our 24 care homes hold the maximum four-year
certification period.
Business Performance
Radius Care’s business has delivered another period of strong growth.
Occupancy levels were maintained at high levels, averaging 95.0% for the half year.
Continued improvements in bed mix, accommodation supplement growth, control
of operating costs and the contribution of Cibus Catering assisted the strong first
half year performance.
“Maintaining the quality of our operating and financial performance allows Radius
Care to accelerate our growth plans. St Allisa, a 109-bed care home acquired in May

1
Available Funds From Operations (AFFO) is a non-GAAP (unaudited) financial measure. A
reconciliation is included within the Investor Presentation.
2
Underlying EBITDA is a non-GAAP (unaudited) financial measure. A reconciliation is
included within the Investor Presentation.
3
Earnings before interest, tax, depreciation, amortisation and rent.

2025 is now fully integrated and will contribute to second half earnings”, said Mr
Brien Cree, Radius Care’s Executive Chair.
Financial Performance
Profit Before Tax and Net Profit After Tax for the half year included the benefit of
lower bank interest costs of $2.6m, a decrease of $0.7m on the pcp. Profit Before Tax
increased to $8.5m (up +209% on the pcp) and Net Profit After Tax increased to
$6.3m (up +221% on the pcp).
Underlying EBITDA was $14.9m, +41% up on the pcp. EBITDAR per bed was $29.9k
for the 12-month period ended 30 September 2025 (an increase of +7% on the $27.9k
reported for FY25). These results were driven by stronger operating metrics across
the business, including occupancy and improved bed mix.
Other financial metrics all demonstrated growth on the pcp. Revenue increased 17%
on the prior period to $100.2m. Operating Cashflow was $13.3m (up +102% on the
pcp). Available Funds from Operations (AFFO) was $7.2m.
Dividend and Capital Management
A cash interim dividend of one cent per share has been declared for the half year, a
+54% increase on the previous year’s interim dividend. The dividend will carry full
imputation credits, resulting in a gross dividend of 1.39 cents per share. The dividend
will be paid on 18 December 2025, with a record date of 4 December 2025.
Record operating cashflow delivered a strengthened balance sheet and progress
against the company’s capital management framework targets. Net Bank Debt
reduced to $63.7m and net bank debt leverage was 2.3x, below the group’s medium-
term target of 2.5x. The group now has significant debt headroom and long dated
debt facilities, providing funding certainty for development priorities, including the
settlement of Belfast land and the expansion of two existing villages.
Accelerating execution of our capital-light growth strategy
Radius Care was recently granted approval in principle by the Westland District
Council to develop an 80-bed care home and a 55-villa retirement village in Hokitika,
with broad support from the local community.
Fifteen additional opportunities to develop new-build care homes around the
country are now being actively pursued, with strong support from external property
investors.
Brownfield development adding value to existing retirement villages will
commence shortly, with 12 additional villas to be constructed at Matamata and Clare
House (Invercargill).
The acquisition of St Allisa, a 109-bed care home in Christchurch, completed on 30
May, has been a successful example of capital light growth. With a net investment
of $1.1m following the sale and leaseback of the land and buildings, St Allisa is fully
integrated into Radius Care’s operating model and is delivering positive EBITDA.
Radius will pursue additional care home acquisition opportunities when they arise.

Radius Care’s expansion into Home Care services also requires minimal capital. An
increasing number of ACC-funded clients are being supported with hospital-level
rehabilitation services nationwide. This move aligns with the Government’s
strategies and public demand, as New Zealand's aging population increasingly
prefers to remain at home with support. The initiative helps ease hospital congestion
and is expanding Radius Care's market reach.
RadPro
RadPro is Radius Care’s operating model, representing the proprietary combination
of culture, leadership, processes, systems and technology enabling high-quality and
high-acuity resident-centred care to be delivered efficiently, at scale.
Investment in the systems supporting RadPro is expected to accelerate during the
next two years and will leverage rapidly advancing technology and AI-enabled tools.
Outlook
Occupancy has remained above 95% during October and November. Radius Care
expects 2H26 trading to be broadly consistent with the first half of the 2026 financial
year.

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.

---

Half Year
Result
Presentation
F o r t h e p e r i o d e n d e d 3 0 S e p t e m b e r 2 0 2 5
1 9 N o v e m b e r 2 0 2 5

21H26 Investor Presentation
Presenting Today

Jeremy Edmonds
Chief Financial Officer
BA, BCom, CA
Andrew Peskett
Chief Executive Officer
BA (Hons), LLB
Brien Cree
Founder & Executive Chair

31H26 Investor Presentation
Agenda

01
Overview of 1H26 Performance
Best ever operating and financial performance
02
Analysis of Result
Record EBITDA and operating cashflow
03
Executing Radius Care’s Growth Strategy
Accelerated execution of our capital-light growth strategy
04
Appendices
Key operational and financial metrics
Summary Profit and Loss, Balance Sheet and Cash Flow
R a d i u s G l a i s d a l e - H a m i l t o n

41H26 Investor Presentation
1H26 Financial Highlights
PROFIT FOR THE PERIOD
+221%
From $2.0M to $6.3M in 1H26
EARNINGS PER SHARE
+1.5cps
From 0.7CPS in 1H25 to 2.2CPS
in 1H26
UNDERLYING EBITDA
1
+41%
From $10.6M to $14.9M in 1H26
ANNUALISED EBITDAR
2
PER OCCUPIED CARE BED
+7%
From $27.9K in FY25 to $29.9K
over last twelve months
INTERIM CASH DIVIDEND
+54%
From 0.65CPS to 1.0CPS in 1H26
AVAILABLE FUNDS FROM
OPERATIONS
1
+99%
From $3.6M to $7.2M in 1H26
FINANCING COSTS
-21%
From $3.3M in 1H25 to $2.6M in
1H26
NET DEBT
-6%
From $67.7M in FY25 to $63.7M
in 1H26
1.Earnings before interest, tax, depreciation and amortisation. AFFO and Underlying EBITDA are non-GAAP (unaudited) financial measures and were reconciled to GAAP measures in the
Investor Presentation dated 19 November 2025.
2.Earnings before interest, tax, depreciation, amortisation and rent. Underlying EBITDA are non-GAAP (unaudited) financial measures and were reconciled to GAAP measures in the
Investor Presentation dated 19 November 2025.

51H26 Investor Presentation
1H26
Business
Highlights
Strong operating
performance
delivers earnings
growth.
STRONG OPERATING PERFORMANCE
•Record first-half NPAT of $6.3m.
•Record +41% growth in Underlying
EBITDA
1
.
•Earnings per share of 2.2cps, +1.5cps
on 1H25.
•1H26 average occupancy of 95.0%.
•Improved mix of higher-revenue
hospital and specialist care residents.
•Debt reduced due to improved
operating cashflow.
•Lower financing costs.
•Interim cash dividend of one cent per
share (fully imputed) declared, +54%
on prior period.
HIGHLY ENGAGED TEAM
Over 2,000 team members
delivering exceptional care in our
fully staffed care homes.
STRATEGIC ACQUISITIONS
Acquisition of St Allisa, our 24th
care home, completed on 30
May 2025.
FAVOURABLE INDUSTRY DYNAMICS
Increasing occupancy driven by
growing demand for high acuity
aged care services.
1.Earnings before interest, tax, depreciation and amortisation. Underlying EBITDA is a non-GAAP (unaudited) financial measure which is reconciled to GAAP
measures included within the Appendices of this Investor Presentation.

61H26 Investor Presentation
Our people make us who
we are, providing
Exceptional Care
INTERNAL PROMOTIONS
Radius Care has promoted 100% of
Regional Managers, 60% of Care
Home Managers, and 44% of
Clinical Nurse Managers.
POSITIVE WORK ENVIRONMENT
Reflected by an eNPS score of +20,
indicating healthy employee
engagement and satisfaction.
AUDIT RESULTS
Continued excellent audit
results, with 16 of our 24 care
homes achieving the maximum
four-year certification period
LOW STAFF TURNOVER
Remains low at 17%, down
from 23% the previous year.

71H26 Investor Presentation
Analysis ofResult
Radius Taupaki Gables - Auckland
Radius Elloughton Gardens - Timaru

81H26 Investor Presentation
1H26
Financial
Highlights
FINANCIAL PERFORMANCE
•NPAT of $6.3m, +221% on
1H25.
•Earnings per share of
2.2cps, +1.5cps on 1H25.
•Revenue of $100.2m, +17%
on 1H25, including +13%
growth in accommodation
supplements.
BALANCE SHEET POSITION
•Net debt of $63.7m, down
$4.1m from FY25.
•Drawn Debt of $66.6m, down
$3.7m from FY25.
•Shareholders’ Equity of $69.6m,
up $3.1m from FY25.
1.Earnings before interest, tax, depreciation, amortisation and rent. Underlying EBITDAR 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 included within the Appendices of
this Investor Presentation.
•Underlying EBITDA of $14.9m, +41% on 1H25.
•Annualised Underlying EBITDAR
1
per care bed of
$29.9k, +7% from FY25.
•Operating cashflow of $13.3m, +102% from
$6.6m in 1H25.
•AFFO
2
of $7.2m, +99% from $3.6m in 1H25,
supporting increased dividends, growth
investment and debt reduction.
Radius Althorp - Tauranga

91H26 Investor Presentation
Financial Performance Overview
1.6
2.8
8.5
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
$m
1H241H251H26
Profit Before Tax
1H26 PBT+209% vs pcp
1.4
2.0
6.3
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
$m
1H241H251H26
Net Profit After Tax
1H26 NPAT+221% vs pcp
Improved operating
results seen in
underlying EBITDA,
combined with
management of fixed
costs and reducing
financing costs have
delivered bottom line
profit growth.
1H26 Profit Before Tax
has tripled to $8.5m,
compared to $2.8m in
1H25.
Reported NPAT was
$6.3m for 1H26, up
+221% on 1H25.
Earnings per share
increased to 2.2cps, up
+1.5cps on 1H25.

101H26 Investor Presentation
41% Underlying EBITDA Growth
10.5
10.6
14.9
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
$m
1H241H25
1H26
Underlying EBITDA
Underlying EBITDA of $14.9m, +41% vs pcp
25.3
27.9
29.9
23.0
24.0
25.0
26.0
27.0
28.0
29.0
30.0
31.0
$000
FY24FY25
LTM 1H26
Underlying EBITDAR per Care Bed
1
Market leading returns
1.Underlying EBITDAR for aged care segment divided by the average number of care beds occupied during the period.
Continued strong
occupancy, improved
bed mix,
accommodation
supplement growth,
villa resales and
effective cost
management have
materially lifted
Underlying EBITDA
and Underlying
EBITDAR per care bed.
$4.3m growth in
Underlying EBITDA is
fully reflected in NPAT
growth.
Consistent with 1H26 guidance released in August 2025

111H26 Investor Presentation
17% Revenue Growth
4.8
5.3
6.0
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
$m
1H241H251H26
Accommodation Supplements
+13% vs pcp
84.5
85.4
100.2
0.0
20.0
40.0
60.0
80.0
100.0
120.0
$m
1H241H251H26
Total Revenue
1
1H26 total revenue +17% vs pcp
Continued strong
occupancy, improved
bed mix and
accommodation
supplement growth
delivered revenue
growth compared to
comparative period.
1.Total revenue excludes other income.

121H26 Investor Presentation
0.65
1.0
0.0
0.2
0.4
0.6
0.8
1.0
1.2
cps
1H251H26
1H24
1
Dividend CPS
1H26 +54% vs pcp
2.9
3.6
7.2
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
$m
1H24
1H25
1H26
AFFO
1H26 +99% vs pcp
I N T E R I M D I V I D E N D
•Interim cash dividend of
one cent per share (with
full imputation credits
of 0.39 cps).
•Interim dividend +54%
above prior period
(0.65cps).
DATES
•3 December 2025, ex-
dividend.
•4 December 2025,
record date.
•18 December 2025,
payment.
AFFO and Interim Dividend
1.No interim cash dividend declared in 1H24.

131H26 Investor Presentation
96.8
73.2
63.7
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
90.0
100.0
$m
1H241H251H26
5.5x3.5x2.3x
Net Debt
Capital Management Framework Progress
Demonstrating our disciplined approach to capital management, ensuring the best care outcomes while
balancing returns to shareholders, financial resilience, and growth in core operations.
In line with our Capital Management Framework, we have
allocated capital across four key areas:
Net Bank Debt to
Underlying EBITDA
1

Ratio
1.Earnings before interest, tax, depreciation and amortisation. Underlying EBITDA is a non-GAAP (unaudited) financial measure.
1.0cps Dividend, fully imputed
FY26 interim dividend +54% above
prior year, providing dividend growth
while supporting increased growth
capex.
Debt Reduction
Repaid $3.7m bank debt during 1H26,
reducing leverage (Net Bank Debt to
Underlying EBITDA) to below our
medium-term target of 2.5x.
Growth Capex / M&A
Purchased St Allisa for $1.1m in May
2025, adding 109 beds and
expanding our leased property
portfolio. Acquired development
land at Clare House ($0.5m).
Share Buyback
Repurchased 1.4m shares at a cost
of $0.5m as part of our ongoing
share buyback scheme, returning
surplus capital to shareholders.

141H26 Investor Presentation
Strategy Execution

151H26 Investor Presentation
Our Ecosystem
of Care
Radius Care is a connected system of health services
designed to support people who require extra care,
whether they are at home, in the community or living in
one of our care homes.
From aged care homes and In-Home Care to everyday
health products, everything we offer is built to support
greater wellbeing.
Radius Care continues to operate profitably in the aged
care sector by staying true to our values and operating
model RadPro. Looking ahead, our strategy continues to
evolve, focused on sustainable growth and sector
leadership through the following strategic plan.

161H26 Investor Presentation
Executing our
Growth Strategy

Grow Scale
Leased Care Opportunities
Targeted M& A
Brownfield Developments
Greenfield Developments
Diversify Revenue
Grow Cibus Catering
RConnect and
In-Home Support
Expand Radius Shop
Expand into Complementary
Health Services
RadPro
Invest in technology
supporting RadPro

171H26 Investor Presentation
M & A
St Allisa, a 109-bed care home, was acquired on
30 May 2025 and has been rapidly integrated
into Radius Care.
Acquisitions of existing care homes will be
pursued where they are complementary to the
existing Radius portfolio.
Grow Scale

N E W V I L L AG E D EV E LO P M E N TS
Some new build care homes come with the opportunity to
develop retirement villages of 50 to 80 units like the 55-
villa retirement village planned in Hokitika to complement
the care home.
The 4.3Ha site at Belfast, Christchurch, will incorporate
~80 villas and a 100-bed care home.
Developments will be staged, subject to demand.
N E W B U I L D CA R E H O M E S
Radius has been granted approval in principle
by Westland District Council for an 80-bed
care home and 55-villa retirement village on
part of the former Hokitika racecourse site.
We are now actively progressing fifteen
additional opportunities with private investors
to construct 80 to 100 bed care homes
throughout the country.
Capital Light Care Expansion

Village Growth

B RO W N F I E L D D EV E LO P M E N T – 1 2 V I L L A S
Resource consent has been granted for six additional
villas at Matamata Country Lodge.
Additional land has been acquired at Clare House, also
allowing a six-villa development.
Construction at both sites will commence before the
end of FY26.

181H26 Investor Presentation
RadPro

Our system for better care
RadPro is Radius Care’s operating model,
representing the proprietary combination of
culture, leadership, processes, systems and
technology enabling high quality and high
acuity resident-centred care to be delivered
efficiently, at scale.
Radius expects to accelerate investment in
the technology and business systems
during the next two years, leveraging rapidly
advancing and AI-supported technology.
Radius Matamata Country Lodge

191H26 Investor Presentation
Diversify
Revenue
Through
In-Home
Support

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.
PRIVATE HOME CARE
Private home support is self-
funded, and can be
anywhere from a few hours,
to full-time live-in support.
Support can be arranged
that is bespoke to the
situation of the client.
ACC HOME CARE
Radius is an approved provider under the ACC Home &
Community ‘Maximise Independence’ category, offering support
for those who have experienced a life-changing injury.
Services are customised to meet the requirements of the clients
ACC assessment.
Home support services are fully funded by ACC up to the
approved number of hours and the scope of services that clients
have been assessed for.

201H26 Investor Presentation
Transforming
St Allisa
Radius Care has a strong track record of undertaking
acquisitions where we can add value.
The acquisition of St Allisa on 30 May 2025 has provided
an opportunity to deliver profitable growth with minimal
capital investment.
St Allisa was fully integrated into the Radius Care
operating model within one month and is delivering
positive EBITDA. The care home will make a meaningful
contribution to 2H26.
109
Care Beds
Update
$1.1m
Net Investment

211H26 Investor Presentation
Outlook
T R A D I N G U P DAT E
Occupancy has remained above 95% in
October and November (to date).
O U T LO O K
Radius Care expects 2H26 trading to be
broadly consistent with the first half of the
2026 financial year.
Radius Elloughton Gardens - Timaru

221H26 Investor Presentation
Radius St Helenas
Appendices

231H26 Investor Presentation
At a Glance
1,898
Care Beds
2,000+
Employees
148
ILUs
National aged care focused portfolio with
strong regional presence, owning 12 and
leasing 12 of the 24 sites nationwide.
A P P E N D I X 1
ILUs are Independent Living Units
A U C K L A N D
SitesBedsILUsTotal
2146-146
W A I K A T O
SitesBedsILUsTotal
541568483
N E W P L Y M O U T H
SitesBeds
ILUs
Total
2142-142
N O R T H L A N D
SitesBedsILUsTotal
3155-155
B A Y O F P L E N T Y
SitesBedsILUsTotal
3331-331
NAPIER
SitesBedsILUs
Total
145-45
P A L M E R S T O N N O R T H
SitesBedsILUsTotal
162-62
O T A G O
SitesBedsILUsTotal
193-93
I N V E R C A R G I L L
SitesBedsILUsTotal
1692695
C A N T E R B U R Y
SitesBedsILUsTotal
544054494

241H26 Investor Presentation
Key operational and financial metrics
Operating Metrics
1H261H251H24
Number of Care Beds (period end)
1
1,8981,7891,889
Average Care Bed Occupancy
2
95.0%92.3%91.9%
Underlying EBITDAR per Care Bed
3
(000s)$15.0$13.4$12.2
Accommodation Supplements Revenue
$6.0m$5.3m$4.8m
Number of beds with Accommodation Supplement charged1,034888880
Number of Units (period end)
4
148148148
Number of existing Unit resales11721
Realised gains on resales (m)$1.6$0.6$1.4
Average resale price (000s)$510$440$386
1.Comprises Care Beds occupied, available to be occupied or unavailable due to refurbishment.
2.Total occupied Care Bed days divided by total Care Bed days available during the year.
3.Pro forma Underlying EBITDAR for aged care divided by theaverage number of Care Beds occupied
during the year.
•30% over three years.
•Average resident tenure is 4.9 years.
4.Comprises Units occupied, available to be occupied or
unavailable due to refurbishment.
5.Total revenue excludes Other income.
DMF terms for Retirement Village units
A P P E N D I X 2
Revenue Split
$m
1H261H251H24
Aged Care
93.783.081.9
Retirement Village
1.91.92.6
Group support & other
4.60.5(0.0)
Total revenue
5
100.285.484.5
Underlying EBITDAR Split
$m
1H261H251H24
Aged Care
27.022.121.0
Retirement Village
2.41.52.3
Group support & other
(9.8)(8.6)(8.5)
Underlying EBITDAR
19.615.014.8

251H26 Investor Presentation
Financials
Statement of
Comprehensive Income
A P P E N D I X 3
($000)1H261H25
Revenue
Revenue from contracts with customers99,04284,213
Deferred management fees1,1751,162
Total revenue100,21785,375
Change in fair value of investment property1,634595
Interest income4586
Total revenue and other income101,89686,056
Expenses
Employee costs(59,256)(51,209)
Depreciation and amortisation expense(5,765)(5,049)
Finance costs(5,815)(6,322)
Other expenses(22,523)(20,716)
Total expenses(93,359)(83,296)
Profit before income tax8,5372,760
Income tax expense(1,907)(788)
Profit for the period6,6301,972
Profit Attributable to
Owners of the company6,331-
Non-controlling interests299-
Total profit6,630-

261H26 Investor Presentation
($000)1H26FY25
Assets
Cash and cash equivalents2,9712,571
Trade and other receivables12,61713,485
Inventories611579
Investment properties79,56277,124
Property, plant and equipment119,232118,214
Right-of-use assets122,978109,529
Intangible assets17,97818,068
Total assets355,949339,570
Liabilities
Trade and other payables23,74322,860
Current tax liabilities1,3712,490
Interest rate swaps643282
Borrowings66,62770,301
Deferred management fees7,6857,357
Refundable occupation right agreements39,10737,843
Put option to purchase shares in Cibus Catering Limited1,1271,127
Lease liabilities137,423122,697
Deferred tax liability8,6018,139
Total liabilities286,327273,096
Net assets69,62266,474
Equity
Share capital56,31956,794
Reserves7,8068,217
Retained earnings5,4971,463
Total equity69,62266,474
COMPRISING OF:
Equity attributable to owners of the Group69,40166,233
Non-Controlling interest221241
69,62266,474
Financials
Statement of
Financial Position
A P P E N D I X 4

271H26 Investor Presentation
Financials
Statement of Cash Flows
($000)1H261H25
Cash flows from operating activities
Receipts from residents for care fees and village fees99,76486,323
Payments to suppliers and employees(80,935)(73,593)
Proceeds from the sale of Refundable Occupation Right Agreements5,6153,080
Payments for the repurchase of Refundable Occupation Right Agreements(2,915)(2,011)
Interest received4586
Interest paid – borrowings(2,443)(3,296)
Interest paid – lease liabilities(3,249)(2,968)
Income tax expense(2,564)(1,014)
Net cash provided by operating activities13,3186,607
Cash flows from investing activities
Proceeds from the sale of property, plant and equipment-14
Payment for acquisition of businesses(1,023)-
Payments for the purchase of property, plant and equipment(2,910)(2,729)
Payments for village developments(804)(154)
Net cash used in investing activities(4,737)(2,869)
Cash flows from financing activities
Proceeds from borrowings2,9892,250
Repayment of borrowings(6,663)(4,850)
Principal payments of lease liabilities(1,436)(1,428)
Purchase of shares under the share buyback programme(475)-
Dividends paid(2,596)(1,994)
Net cash used in financing activities(8,181)(6,022)
Reconciliation of cash and cash equivalents
Cash and cash equivalents at beginning of the period2,5712,350
Net (decrease)/increase in cash and cash equivalents held400(2,284)
Cash and cash equivalents at end of period2,97166
A P P E N D I X 5

281H26 Investor Presentation
Financials
Underlying Earnings
and AFFO
Calculation
A P P E N D I X 6
($000)1H261H25
Profit before income tax8,5372,760
Remove: Non-controlling interests(433)-
Profit attributable to owners8,1042,760
Remove: Change in fair value of investment property(1,634)(595)
Include: Realised gains on resales1,634595
Remove: Depreciation expense5,7655,049
Remove: Interest income(45)(86)
Remove: Interest expense5,8156,322
Include: Pre-NZ IFRS 16 operating lease expense(4,685)(4,397)
EBITDA14,9549,648
Underlying adjustments(37)967
Underlying EBITDA14,91710,615
Net interest expense (bank and other loans)(2,566)(3,260)
Underlying tax expense(2,206)(1,116)
Depreciation on physical assets(2,932)(2,607)
AFFO7,2133,632

291H26 Investor Presentation
Directory of care homes
A P P E N D I X

7
OWNED
CARE HOMELOCATION
CARE
BEDS
UNITS
Taupaki GablesKumeu60-
St JoansHamilton82-
Windsor CourtOhaupo76-
Windsor Court VillageOhaupo-22
Matamata Country LodgeMatamata81-
Matamata Country Lodge VillageMatamata-46
Lexham ParkKatikati63-
HeatherleaNew Plymouth55-
Thornleigh ParkNew Plymouth87-
PeppertreePalmerston North62-
St HelenasChristchurch52-
Elloughton GardensTimaru86-
Elloughton VillageTimaru-54
Fulton HomeDunedin93-
Clare House Invercargill69-
Clare House VillageInvercargill-26
Total owned866148
TOTAL
CARE HOMECARE BEDSUNITS
Leased1,032-
Owned 866148
TOTAL
1,898148
LEASED
CARE HOMELOCATIONCARE BEDS
BaycareNorthland45
Potter HomeWhangarei55
Rimu ParkWhangarei55
WaipunaAuckland86
GlaisdaleHamilton80
KensingtonHamilton96
AlthorpTauranga119
MatuaTauranga149
Hampton CourtNapier45
HawthorneChristchurch94
St AllisaChristchurch109
MillstreamAshburton80
Millstream ApartmentsAshburton19
Total leased1,032
•Average current lease term of 18.6 years.
•Average time to final expiry of 25.7 years.

301H26 Investor Presentation
= Surplus cash for allocation
Board approved Capital Management Framework and Dividend Policy, supporting a Capital-Light growth strategy.
Capital Management Framework
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 included
within the Appendices of this Investor Presentation.
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
= 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
—
—
Underlying EBITDA
1
A P P E N D I X

8

311H26 Investor Presentation
Important
Notice and
Disclaimer
This presentation has been prepared by Radius Residential Care Limited (“Radius Care”), for informational purposes. This disclaimer applies to
this document and the verbal or written comments of any person presenting it.
This presentation sets out information relating to Radius Care’s half year result for the period to 30 September 2025. As such, it should be read
in conjunction with the unaudited consolidated financial statements for Radius Care and its subsidiaries for the period ended 30 September
2025 (“Financial Statements”) and other material that Radius Care has released to NZX along with this presentation. That material is also
available at www.radiuscare.co.nz.
In certain sections of this presentation, Radius Care has chosen to present certain financial information exclusive of the impact of significant
items. A number of non-GAAP financial measures are used in this presentation which are used by management to assess the performance of
the business and have been derived from the Financial Statements. You should not consider any of these financial measures in isolation from,
or as a substitute for the information provided in the Financial Statements.
This presentation may contain forward-looking statements and projections. Such forward-looking statements are based on current
expectations, estimates and assumptions and are subject to a number of risks and uncertainties, including material adverse events, significant
one-off expenses and other unforeseeable circumstances. There is no assurance that results contemplated in any of these projections and
forward-looking statements will be realised. Actual results may differ materially from those projected. Except as required by law, or the NZX
Listing Rules, no person is under any obligation to update this presentation at any time after its release or to provide further information about
Radius Care.
The information in this presentation has been prepared in good faith by Radius Care. Neither Radius Care nor any of its directors, employees,
shareholders nor any other person give any representations or warranties (either express or implied) as to the accuracy or completeness of the
information in this presentation and to the maximum extent permitted by law, no such person shall have any liability whatsoever to any person
for any loss (including, without limitation, arising from any fault or negligence) arising from this presentation or any information supplied in
connection with it.
This presentation is not a product disclosure statement or other disclosure document, or an offer of shares for subscription, or sale, in any
jurisdiction. The information in this presentation does not constitute financial product, legal, financial, investment, tax or any other advice or a
recommendation.

32FY25 Investor Presentation
Thank You
Radius Hampton Court - Napier

---

Interim
Report 2026
Radius Residential Care Ltd | www.radiuscare.co.nz
Caring is our calling
INTERIM FINANCIAL STATEMENTS

Contents
Financial Overview3
Chair and CEO Letter4
Financial Statements7
Financial Notes12
Radius Millstream - Ashburton
Radius Matua - Tauranga
2
Radius Residential Care Interim Financial Statements 2026

1H26 Highlights
+
41%
UNDERLYING EBITDA
1
FROM $10.6M TO
$14.9M IN 1H26
+
17%
TOTAL REVENUE
FROM $85.4M 1H25 TO
$100.2M 1H26
+
221%
PROFIT FOR THE PERIOD
FROM $2.0M TO
$6.3M IN 1H26
+
102%
OPERATING CASH FLOW
FROM $6.6M TO
$13.3M IN 1H26
+
1.5cps
EARNINGS PER SHARE
FROM 0.7CPS IN 1H25 TO
2.2CPS IN 1H26
+
7%
ANNUALISED EBITDAR2 PER
OCCUPIED CARE BED
FROM $27.9K IN FY25 TO $29.9K
OVER LTM
3
+
54%
INTERIM CASH DIVIDEND
FROM 0.65CPS TO
1.0CPS IN 1H26
-
21%
FINANCING COSTS
FROM $3.3M IN 1H25 TO
$2.6M IN 1H26
-
6%
NET DEBT
FROM $67.7M IN FY25 TO
$63.7M IN 1H26
+
99%
AVAILABLE FUNDS FROM
OPERATIONS
1
FROM $3.6M TO
$7.2M IN 1H26
1. Earnings before interest, tax, depreciation and amortisation. AFFO and Underlying EBITDA are non-GAAP (unaudited) financial measures and
were reconciled to GAAP measures in the Investor Presentation dated 19 November 2025.
2. Earnings before interest, tax, depreciation, amortisation and rent. Underlying EBITDA are non-GAAP (unaudited) financial measures and were
reconciled to GAAP measures in the Investor Presentation dated 19 November 2025.
3. Last twelve months.
3
Radius Residential Care Interim Financial Statements 2026

Radius Care continues to demonstrate that
operational excellence and compassionate care are
not opposites but partners in sustainable growth.
We are pleased to update you on Radius Care’s performance
for the first half of the 2026 financial year.
Building on our commitment to exceptional care and
sustainable growth, Radius Care has delivered an extremely
strong result for the half year, resulting in Net Profit After Tax
of $6.3m. This was a 221% improvement over the same period
last year.
MESSAGE FROM
Brien Cree
Founder & Executive Chair
Andrew Peskett
Chief Executive
Expanding
our Footprint
4
Radius Residential Care Interim Financial Statements 2026

Looking back over the six months to 30 September 2025, there were some clear highlights.
Our People
Exceptional care is delivered by exceptional people. Our focus on culture, training, and development
has resulted in low staff turnover and successful internal promotions. Over 60% of recent
management appointments have been filled from within, and 95% of new hires report satisfaction in
their roles. Our employee net promoter score (eNPS) continues to improve, benefiting both our team
and our residents.
Operations
Metrics were strong, with occupancy sustained at historically
high levels, and increasing high acuity beds improving mix.
Together with accommodation supplement growth, these
results led to EBITDA per bed lifting to an annualised $29.9k.
Certification
Radius Care continues to set the standard for quality, with
16 of our care homes holding the maximum four-year audit
certification—reflecting the dedication of our teams across
the country.
Growth
Radius Care welcomed the staff and residents of the 109-
bed St Allisa Care Home in Christchurch to the Radius Care
community, completing this acquisition on 30 May 2025.
We were pleased to signal our next new build care home, with
the Westland District Council’s approval in principle for Radius
Care to develop an 80-bed care home and adjacent retirement
village in Hokitika.
Operating Performance
Strong occupancy, improved bed mix, and growth in
accommodation supplement revenue for premium rooms have
driven a 17% increase in revenue and a EBITDAR per bed of
$29.9k (12 months to 30 September 2025), an increase of 7%
over FY25’s $27.9k per bed. Underlying EBITDA for the half
year increased 41% to $14.9m.
Eleven retirement village units were relicensed in the half year
at an average resale price of $510k.
Capital Management
Radius Care’s capital management framework was released in
May 2025. This framework has guided a disciplined approach
to capital allocation, delivering significantly lower bank
interest costs and an increased interim dividend. At the same
time, 60% of AFFO was retained, allowing growth investment
in the acquisition of St Allisa and a reduction in net debt.
Radius Glasidale - Hamilton
5
Radius Residential Care Interim Financial Statements 2026

RadPro
RadPro is Radius Care’s operating model,
representing the proprietary combination of culture,
leadership, processes, systems and technology
enabling high quality and high acuity resident-
centred care to be delivered efficiently, at scale.
Investment in the systems supporting RadPro is
expected to accelerate during the next two years
and will leverage rapidly advancing technology
and AI.
Accelerating Capital-Light Growth
Radius Care was recently granted approval in
principle by the Westland District Council to develop
an 80-bed care home and 55-villa retirement
village in Hokitika, with broad support from the
local community.
Fifteen additional opportunities to develop new-
build care homes around the country are now being
actively pursued, with strong support from external
property investors.
Brownfield development adding value to existing
retirement villages will commence shortly, with 12
additional villas to be constructed at Matamata and
Clare House in Invercargill.
The acquisition of St Allisa, a 109-bed
care home in Christchurch completed on
30 May has been a successful example
of capital light growth. With a net
investment of $1.1m following the sale
and leaseback of the land and buildings,
St Allisa is fully integrated into Radius
Care’s operating model and is delivering
a positive contribution to EBITDA.
Radius will pursue additional care home
acquisition opportunities when they arise.
Radius Care’s expansion into Home Care
services also requires minimal capital. An
increasing number of ACC funded clients
are being supported with hospital-level
rehabilitation services nationwide. 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
and is expanding Radius Care's
market reach.
Dividend
The Board is pleased to declare a
cash interim dividend of one cent per
share (fully imputed), to be paid on
18 December 2025. This is an increase
of 54% on FY25’s interim dividend of
0.65 cents per share, reflecting our
commitment to delivering returns to
shareholders while investing in the future
of Radius Care.
Outlook
Occupancy has remained above 95%
during October and November. Radius
Care expects 2H26 trading to be broadly
consistent with the first half of the 2026
financial year.
Radius Matamata Country Lodge - Matamata
6
Radius Residential Care Interim Financial Statements 2026

The accompanying notes form an integral part of these consolidated interim financial statements.
CONSOLIDATED STATEMENT OF
Comprehensive Income
For the six months ended
In thousands of New Zealand dollars
NOTE
Unaudited
30 Sep 25
Unaudited
30 Sep 24
REVENUE
Revenue from contracts with customers4.599,04284,213
Deferred management fees1,1751,162
Total revenue100,21785,375
Change in fair value of investment property2.11,634595
Interest income4586
Total revenue and other income101,89686,056
EXPENSES
Employee costs(59,256)(51,209)
Depreciation and amortisation expense(5,765)(5,049)
Finance costs(5,815)(6,322)
Other expenses(22,523)(20,716)
Total expenses(93,359)(83,296)
Profit before income tax 8,5372,760
Income tax expense4.1(1,907)(788)
Profit for the period6,6301,972
Other comprehensive income for the period
Items that will not be reclassified subsequently to profit and loss
Cash flow hedges(361)(163)
Other comprehensive income for the period(361)(163)
Total comprehensive income6,2691,809
PROFIT ATTRIBUTABLE TO
Owners of the company6,3311,972
Non-controlling interests299—
Total profit6,6301,972
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO
Owners of the company5,9701,809
Non-controlling interests299—
Total comprehensive income6,2691,809
EARNINGS PER SHARE
Basic and diluted earnings per share (cents per share)3.22.23 0.69
7
Radius Residential Care Interim Financial Statements 2026

The accompanying notes form an integral part of these consolidated interim financial statements.
1
Audited
2
Unaudited
CONSOLIDATED STATEMENT OF
Changes in Equity
For the six months ended
In thousands of New Zealand dollars
NOTE
Contributed
Equity
Other
Reserves
Retained
Earnings
Total
Equity
Non-
Controlling
InterestTotal Equity
Balance as at 1 April 2025
1
56,794 8,217 1,222 66,233 241 66,474
Profit for the period— — 6,331 6,331299 6,630
Cash flow hedges — (361) —(361) —(361)
Total comprehensive income for the period— (361)6,3315,970 299 6,269
Transactions with owners
Share buyback(475)——(475)—(475)
Share based payments—(50)—(50)—(50)
Dividends paid3.1——(2,277)(2,277)(319)(2,596)
Total transactions with owners(475)(50)(2,277)(2,802)(319)(3,121)
Balance as at 30 September 2025
2
56,319 7,806 5,276 69,401 221 69,622
Balance as at 1 April 2024
1
56,820 9,578(1,967) 64,431 — 64,431
Profit for the period—— 1,972 1,972—1,972
Cash flow hedges—(163) — (163)—(163)
Total comprehensive income for the period—(163) 1,972 1,808 — 1,808
Transactions with owners
Share based payments1224—36—36
Dividends paid3.1——(1,994)(1,994)—(1,994)
Total transactions with owners1224(1,994)(1,958)—(1,958)
Balance as at 30 September 2024
2
56,832 9,439(1,989) 64,282— 64,282
8
Radius Residential Care Interim Financial Statements 2026

The Board of Directors of the Company authorised these consolidated interim fi nancial statements for issue on
19 November 2025.
For and on behalf of the Board.
CONSOLIDATED STATEMENT OF
Financial Position
As at
In thousands of New Zealand dollars NOTE
Unaudited
30 Sep 25
Audited
31 Mar 25
ASSETS
Cash and cash equivalents2,9712,571
Trade and other receivables12,61713,485
Inventories611579
Investment properties2.1 79,56277,124
Property, plant and equipment2.2119,232118,214
Right-of-use assets2.4122,978109,529
Intangible assets17,97818,068
Total assets 355,949 339,570
LIABILITIES
Trade and other payables23,74322,860
Current tax liabilities1,3712,490
Interest rate swaps643282
Borrowings3.366,62770,301
Deferred management fees2.37,6857, 3 57
Refundable occupation right agreements2.339,10737,843
Put option to purchase shares in Cibus Catering Limited1,1271,127
Lease liabilities2.4137,423122,697
Deferred tax liability4.18,6018,139
Total liabilities 286,327 273,096
Net assets69,62266,474
EQUITY
Share capital3.156,319 56,794
Reserves 3.17,806 8,217
Retained earnings5,4971,463
Total equity 69,622 66,474
COMPRISING OF:
Equity attributable to the owners of the Group69,40166,233
Non-Controlling Interest221241
69,62266,474
Brien Cree - Chair, Board of Directors
The accompanying notes form an integral part of these consolidated interim financial statements.
Hamish Stevens - Chair, Audit and Risk Committee
9
Radius Residential CareInterim Financial Statements 2026

The accompanying notes form an integral part of these consolidated interim financial statements.
CONSOLIDATED STATEMENT OF
Cash Flows
For the six months ended
In thousands of New Zealand dollars
Unaudited
30 Sep 25
Unaudited
30 Sep 24
Receipts from residents for care fees and village fees99,76486,323
Payments to suppliers and employees(80,935)(73,593)
Proceeds from the sale of Refundable Occupation Right Agreements5,6153,080
Payments for the repurchase of Refundable Occupation Right Agreements(2,915)(2,011)
Interest received4586
Interest paid - borrowings(2,443)(3,296)
Interest paid - lease liabilities(3,249)(2,968)
Income tax expense(2,564)(1,014)
Net cash provided by operating activities 13,3186,607
Proceeds from the sale of property, plant and equipment—14
Payment for acquisition of businesses(1,023)—
Payments for the purchase of property, plant and equipment(2,910)(2,729)
Payments for village developments(804)(154)
Net cash used in investing activities(4,737)(2,869)
Proceeds from borrowings2,9892,250
Repayment of borrowings(6,663)(4,850)
Principal payments of lease liabilities(1,436)(1,428)
Purchase of shares under the share buyback programme(475)—
Dividends paid(2,596)(1,994)
Net cash used in financing activities(8,181)(6,022)
Cash and cash equivalents at beginning of the period2,5712,350
Net (decrease)/increase in cash and cash equivalents held400(2,284)
Cash and cash equivalents at end of period2,97166
10
Radius Residential Care Interim Financial Statements 2026

CONSOLIDATED STATEMENT OF
Cash Flows continued
The accompanying notes form an integral part of these consolidated interim financial statements.
For the six months ended
In thousands of New Zealand dollars
Unaudited
30 Sep 25
Unaudited
30 Sep 24
RECONCILIATION OF PROFIT FOR THE PERIOD TO NET CASH PROVIDED BY
OPERATING ACTIVITIES
Profit for the period6,6301,972
ADJUSTMENTS FOR NON-CASH ITEMS
Depreciation5,7655,049
Share based payments136
Fair value adjustment to Investment properties(1,634)(595)
Movement in deferred tax462(299)
CHANGES IN OPERATING ASSETS AND LIABILITIES
Trade and other receivables and other assets8681,868
Inventories(32)(43)
Trade and other payables and other liabilities1,113(1,603)
Current tax liabilities(1,119)74
Refundable Occupation Right Agreements1,264148
Net cash provided by operating activities 13,3186,607
11
Radius Residential Care Interim Financial Statements 2026

Notes to the Consolidated Interim Financial Statements
For the six months ended 30 September 2025
1. GENERAL INFORMATION
1.1. Basis of Preparation
Reporting Entity
The consolidated interim financial statements are for
Radius Residential Care Limited ('the Company') and its
subsidiaries (together 'the Group').
The Group provides rest home and hospital care for
the elderly along with development and operation of
integrated retirement villages in New Zealand.
Statutory Basis and Statement of Compliance
Radius Residential Care Limited is a limited liability
company, incorporated and domiciled in New Zealand.
It is registered under the Companies Act 1993 and is a
FMC Reporting Entity in terms of Part 7 of the Financial
Markets Conduct Act 2013. The Company is listed on
the NZX Main Board ("NZX"). The consolidated interim
financial statements have been prepared in accordance
with the requirements of the NZX, and Part 7 of the
Financial Markets Conduct Act 2013.
These consolidated interim financial statements have
been prepared in accordance with Generally Accepted
Accounting Practice in New Zealand ('NZ GAAP'). They
comply with New Zealand equivalents to International
Accounting Standard 34 Interim Financial reporting
('NZ IAS 34') and International Accounting Standard
34 Interim Financial Reporting ('IAS 34'). The Group
is a Tier 1 for-profit entity in accordance with XRB A1
Application of the Accounting Standards Framework.
The accounting policies that materially affect the
measurement of the Consolidated Statement of
Comprehensive Income, Consolidated Statement of
Financial Position and the Consolidated Cash Flow
Statement have been applied on a basis consistent
with those used in the audited consolidated financial
statements for the year ended 31 March 2025. All
new standards, amendments and interpretations to
existing standards that came into effect during the
current accounting period have been adopted in the
current year. None of these have had a material impact
on the Group.
The consolidated interim financial statements do not
include all the notes of the type normally included in the
consolidated annual financial statements. Accordingly,
these consolidated interim financial statements are to
be read in conjunction with the consolidated annual
financial statements for the year ended 31 March 2025,
prepared in accordance with New Zealand equivalents
to the International Financial Reporting Standard
(‘NZ IFRS’) and International Financial Reporting
Standards (‘IFRS’).
The consolidated interim financial statements for the six
months ended 30 September 2025 and comparatives
for the six months ended 30 September 2024 are
unaudited. The consolidated annual financial statements
for the year ended 31 March 2025 were audited and form
the basis for the comparative figures for that period in
these statements.
The consolidated interim financial statements have been
prepared on a going concern basis, which contemplates
continuity of normal business activities and the
realisation of assets and the settlement of liabilities in
the ordinary course of business.
The balance sheet for the Group is presented on the
liquidity basis where the assets and liabilities are
presented in the order of their liquidity.
Functional and Presentation Currency
The consolidated interim financial statements are
presented in New Zealand dollars which is the Group’s
functional currency. All amounts have been rounded to
the nearest thousand, unless otherwise indicated.
Measurement Basis
These consolidated interim financial statements have
been prepared under the historical cost convention, with
the exception of Investment properties (note 2.1) and
land and buildings included within property, plant and
equipment (note 2.2).
Key Estimates and Judgements
The preparation of the consolidated interim financial
statements in conformity with IAS 34 and NZ IAS 34
requires the use of certain critical accounting estimates.
It also requires the Board of Directors and Management
to exercise their judgement in the process of applying
the Group’s accounting policies.
Estimates and underlying assumptions are reviewed on
an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised
and in any future periods affected.
The areas involving a higher degree of judgement or
complexity, or areas where assumptions and estimates
are significant to the consolidated financial statements
are described in the following notes:
• Valuation of Investment properties (note 2.1)
• Valuation of land and buildings (note 2.2)
• Lease extension and termination options &
incremental borrowing rates (note 2.4)
• Impairment testing of goodwill:
The recoverability of the carrying value of goodwill
is assessed at least annually to ensure that it is not
impaired. Performing this assessment generally
12
Radius Residential Care Interim Financial Statements 2026

requires management to estimate future cash flows
to be generated by the cash-generating unit, which
entails making judgements, including the expected
rate of growth of revenues based on projections of
occupancy levels, margins expected to be achieved,
the level of future capital expenditure required to
support these outcomes and the appropriate discount
rate to apply when valuing future cash flows.
• Impairment testing of right-of-use assets (note 2.4)
• Recognition of deferred tax (note 4.1)
• Business combinations (note 4.3)
As at the date of these interim financial statements, all
reasonably known and available information with respect
to these matters has been taken into consideration
and all reasonably determinable adjustments have
been made in preparing these consolidated interim
financial statements.
New and Amended Accounting
Standards and Interpretations
All mandatory new and amended standards and
Interpretations have been adopted in the current
year. None had a material impact on these financial
statements. The Group has not early adopted any new
standards, amendments or interpretations to existing
standards that are not yet effective.
Segment Reporting
An operating segment is a component of an entity that
engages in business activities which earn revenue and
incur expenses and where the chief operating decision
maker reviews the operating results on a regular basis
and makes decisions on resource allocation.
The Group operates in one operating segment being
the provision of aged care in New Zealand. The chief
operating decision maker, the Board of Directors,
reviews the operating results on a regular basis and
makes decisions on resource allocation based on the
review of Group results and cash flows as a whole.
The nature of the services provided and the type and
class of residents have similar characteristics within
the operating segment. Health New Zealand is a
significant customer of the Group, as the Group derives
care fee revenue in respect of eligible Government
subsidised aged care residents. No other customers
individually contribute a significant proportion of the
Group's revenue. All revenue earned and assets held are
in New Zealand.
13
Radius Residential Care Interim Financial Statements 2026

2. PROPERTY ASSETS
2.1. Investment Properties
Accounting Policy
Investment properties include completed freehold land and buildings, freehold land and buildings under
development comprising retirement villages including common facilities, provided for use by residents under the
terms of a Refundable Occupation Right Agreements (ORAs). Investment properties are held for long term yields
and to generate rental income.
Investment properties are initially recognised at cost. After initial recognition, Investment properties are measured
at fair value. Gains or losses arising from a change in the fair value of Investment properties are recognised in
profit or loss.
Rental income from investment properties, being deferred management fees, is accounted for as
described in note 2.3.
For the six months ended
In thousands of New Zealand dollars NOTE
Unaudited
30 Sep 25
Audited
31 Mar 25
Investment Properties
Opening carrying amount77,12473,528
Net fair value gain1,6343,088
Occupation Right Agreements settled(13,566)(6,659)
Occupation Right Agreements entered13,5666,659
Purchases804508
Closing carrying amount79,56277,124
A reconciliation between the valuation and the amount recognised on the Consolidated Statement of Financial
Position as Investment properties is as follows:
Valuation of operator's interest 29,955 28,850
Refundable Occupation Right Agreements2.339,10737,843
Deferred management fees2.37,6857, 3 57
Unsold/vacant units3951,100
Residential properties
2,4201,974
79,56277,124
Valuation Process and Key Inputs
The Group's Investment properties are valued on an
annual basis. For the year ended 31 March 2025, the
valuations were undertaken by LVC Limited (LVC),
independent valuers. LVC are registered with the
Property Institute of New Zealand, employs registered
valuers and has appropriate recognised professional
qualifications and recent experience in the location and
category of properties being valued.
The valuation of investment property is adjusted
for cash flows relating to refundable occupation
licence payments, residents’ share of resale gains and
management fees receivable recognised separately on
the Consolidated Statement of Financial Position and
also reflected in the valuation model.
Unsold/Vacant Units
Any developed but not yet sold units (unsold/
vacant units) are valued based on recent comparable
transactions, adjusted for disposal costs, holding costs
and an allowance for profit and risk. This represents the
fair value of the Group’s interest in unsold/vacant units
at reporting date.
Key Accounting Estimates and Judgements
As the fair value of Investment properties is determined
using inputs that are significant and unobservable, the
Group has categorised Investment properties as Level
3 under the fair value hierarchy in accordance with NZ
IFRS 13 Fair Value Measurement.
14
Radius Residential Care Interim Financial Statements 2026

Significant Unobservable Inputs
The significant unobservable inputs used in the
fair value measurement of the Group's portfolio of
completed Investment properties are the discount rate
and the property growth rate.
The stabilised occupancy is a key driver of the LVC
valuation. A significant increase/(decrease) in the
occupancy period would result in a significant lower/
(higher) fair value measurement.
Current ingoing price, for subsequent resales of ORAs,
is a key driver of the LVC valuation. A significant
increase/(decrease) in the ingoing price (as driven by
the property growth rates) would result in a significantly
higher/(lower) fair value measurement.

2.2. Property, Plant and Equipment
Accounting Policy
Freehold land and buildings are measured at revalued
amounts, less any subsequent accumulated depreciation
and any accumulated impairment losses. At each
reporting date the carrying amount of each asset is
reviewed to ensure that it does not differ materially from
the asset's fair value at reporting date. Where necessary,
independent valuations are performed and the asset is
revalued to reflect its fair value.

CategoryUseful Life Range
Buildings50 years
Motor vehicles5 years
Furniture, fixtures and fittings5 - 10 years
Information technology4 years
Medical equipment 7 years

Assets are assessed for impairment whenever events
or circumstances arise that indicate the asset may
be impaired. An asset’s carrying amount is written
down immediately to its recoverable amount if the
asset’s carrying amount is greater than its estimated
recoverable amount. Impairment losses in respect of
individual assets are recognised immediately in profit
or loss unless the asset is measured at a revalued
amount, in which case the impairment loss is treated
as a revaluation decrease and is recognised in other
comprehensive income to the extent that it does not
exceed the amount in the revaluation surplus for the
same asset.
Gains and losses on disposals are determined by
comparing the net disposal proceeds with the carrying
amount of the asset. These are included in the profit
or loss.
Radius Thornleigh Park
15
Radius Residential Care Interim Financial Statements 2026

In thousands of New Zealand dollars
Land and
Buildings
Motor
Vehicles
Furniture,
Fixtures and
Fittings
Information
Technology
Medical
Equipment
Work in
ProgressTotal
UNAUDITED - SIX MONTHS ENDED 30 SEPTEMBER 2025
Opening net book value96,01643612,0841,4291,0577,1 9 2118,214
Additions13,600592,07214935335016,583
Business Combination—69631390—1,072
Transfers——869122150(1,141)—
Disposals(13,600)(6)(68)———(13,674)
Depreciation(669)(91)(1,632)(378)(193)—(2,963)
Closing net book value95,34740414,2881,3351,4576,401119,232
UNAUDITED - SIX MONTHS ENDED 30 SEPTEMBER 2025
Cost98,6731,83046,7767,8612,6486,401164,189
Accumulated Depreciation(3,326)(1,426)(32,488)(6,526)(1,191)—(44,957)
Net book value95,34740414,2881,3351,4576,401119,232
In thousands of New Zealand dollars
Land and
Buildings
Motor
Vehicles
Furniture,
Fixtures and
Fittings
Information
Technology
Medical
Equipment
Work in
ProgressTotal
AUDITED - YEAR ENDED 31 MARCH 2025
Opening net book value97,64634710,7991,1237186,677117,310
Additions—803,4625126011,1805,835
Business combination—167309———476
Reclassification(286)—286————
Transfers——148517—(665)—
Disposals——(10)(9)——(19)
Depreciation(1,344)(158)(2,910)(714)(262)—(5,388)
Closing net book value96,01643612,0841,4291,0577,1 9 2118,214
AUDITED - YEAR ENDED 31 MARCH 2025
Cost98,6911,80242,9217,5772,0577,1 9 2160,240
Accumulated Depreciation(2,675)(1,366)(30,837)(6,148)(1,000)—(42,026)
Net book value96,01643612,0841,4291,0577,1 9 2118,214
Key Accounting Estimates and Judgements
Property measurements are categorised as Level 3 (31 March 2025: Level 3) of the fair value measurement hierarchy
as the fair value is determined using inputs that are unobservable.
Significant Unobservable Inputs
The significant unobservable input used in the fair value measurement of the Group's land and buildings is the
capitalisation rate applied to rentals. A significant decrease/(increase) in the capitalisation rate would result in
significantly higher/(lower) fair value measurement.
16
Radius Residential Care Interim Financial Statements 2026

2.3. Refundable Occupation Right
Agreements
Accounting Policy
Occupation Right Agreements (ORAs) confer the right
to occupy a retirement unit and are considered leases
under NZ IFRS 16 Leases.
A new resident is charged a refundable security deposit,
on being issued the right to occupy one of the Group's
units, which is refunded to the resident subject to a new
ORA for the unit being issued to an incoming resident,
net of any amount owing to the Group. The Group has
a legal right to set off any amounts owing to the Group
by a resident against that resident's security deposit.
Such amounts include management fees, rest home
and hospital fees, service fees and village fees. As the
refundable occupation right is repayable to the resident
upon vacating the unit (subject to a new ORA for the
unit being issued to an incoming resident), the fair value
is equal to the face value, being the amount that can
be refunded.
The right of residents to occupy the Investment
properties of the Group is protected by the Statutory
Supervisor restricting the ability of the Group to fully
control these assets without undergoing a consultation
process with all affected parties.
A resident is charged a village contribution fee in
consideration for the right to occupy one of the Group's
units to a maximum of 30% of the entry payment.
Some residents may be charged an administration
fee for the right to occupy one of the Group's units of
between 3.45% and 4.0% of the entry payment.
The village contribution is payable by the resident
on termination of the ORA. Village contribution
is recognised as deferred management fees. The
management fee receivable is recognised in accordance
with the terms of the resident's ORA.
The deferred management fee represents the difference
between the management fees receivable under the
ORA and the portion of the management fee accrued
which is recognised on a straight line basis over the
longer of the term specified in a resident's ORA or
the average expected occupancy for the relevant
accommodation i.e., eight years for villas and three
to four years for serviced apartments (31 March
2025: eight years for villas and three to four years for
serviced apartments).
The management fee recognised in the Consolidated
Statement of Comprehensive Income represents income
earned in line with the average expected occupancy.
As a refundable occupation license payment is
repayable to the resident upon termination (subject to a
new ORA being issued to an incoming resident), the fair
value is equal to the face value, being the amount that
can be demanded.

For the six-months ended
In thousands of New Zealand dollars
Unaudited
30 Sep 25
Audited
31 Mar 2025
REFUNDABLE OCCUPATION RIGHT AGREEMENTS
Refundable occupation licence payments 55,192 53,418
Less: Management fee receivable (per contract)
(16,085)(15,575)
39,107 37,843
RECONCILIATION OF MANAGEMENT FEES RECOGNISED UNDER NZ IFRS AND PER ORA
Management fee receivable (per contract)(16,085)(15,575)
Deferred management fees 7,685 7,357
Management fee receivable (per NZ IFRS)(8,400)(8,218)
Comprising of
Current deferred management fees2,0702,038
Non-current deferred management fees5,6155,319
Deferred management fees7,6857, 3 57

17
Radius Residential Care Interim Financial Statements 2026

2.4. Leases
Right-of-use Assets
Right-of-use assets are initially recognised at cost,
(adjusted for any remeasurement of the associated
lease liability), less accumulated depreciation and any
accumulated impairment loss.
Right-of-use assets are depreciated over the shorter
of the lease term and the estimated useful life of
the underlying asset, consistent with the estimated
consumption of the economic benefits embodied in the
underlying asset.
Lease Liabilities
Lease liabilities are initially recognised at the present
value of the future lease payments (i.e., the lease
payments that are unpaid at the commencement date of
the lease). These lease payments are discounted using
the interest rate implicit in the lease, if that rate can
be readily determined, or otherwise using the Group's
incremental borrowing rate.
Subsequent to initial recognition, the lease liability is
measured at amortised cost using the effective interest
rate method. Interest expense on lease liabilities is
recognised in profit or loss (as a component of finance
costs). Lease liabilities are remeasured to reflect
changes to lease terms, changes to lease payments
and any lease modifications not accounted for as
separate leases.
Variable lease payments not included in the
measurement of lease liabilities are recognised as an
expense when incurred.
Leases of 12-months or Less and Leases of Low
Value Assets
Lease payments made in relation to leases of 12-months
or less and leases of low value assets (for which a lease
asset and a lease liability has not been recognised) are
recognised as an expense on a straight line basis over
the lease term.
Key Accounting Estimates and Judgements
Extension and termination options are included in
a number of leases across the Group. These terms
are used to maximise the operational flexibility of
contracts. The majority of extension and termination
options are exercisable only by the Group and not by
the respective lessor. In determining the lease term
management considers all facts and circumstances
that lead to an economic incentive to exercise and
extension option or not exercise a termination option.
Extension options or periods after termination options
are only included in the lease term if the lease is
reasonably certain to be exercised. This assessment is
reviewed if a significant event or significant change in
circumstances occurs which effects this assessment and
that is within the Group's control. All extension options
have been assumed for the calculations of the Group's
lease liabilities.
The weighted average incremental borrowing rates
applied by the Group is 5% (31 March 2025: 5%). There
was one new lease entered into during the year (30
September 2024: none). No leases were cancelled or
modified during the year (30 September 2024: no
leases were cancelled during the year and no leases
were modified).
Radius Matua - Tauranga
18
Radius Residential Care Interim Financial Statements 2026

For the six-months ended
In thousands of New Zealand dollars
Unaudited
30 Sep 25
Audited
31 Mar 25
(A) RIGHT-OF-USE ASSETS
Land and buildings under lease153,520137,359
Accumulated depreciation(30,542)(27,830)
Total carrying amount of right-of-use assets122,978109,529
Reconciliations
Reconciliation of the carrying amount of right-of-use assets at the beginning and end of the
financial year:
LAND AND BUILDINGS
Opening carrying amount109,529109,906
Additions15,480—
Depreciation(2,712)(4,920)
Remeasurements6814,543
Closing carrying amount122,978109,529
(B) LEASE LIABILITIES
Current Land and buildings 9,8062,868
Non-current Land and buildings
127,617119,829
137,423122,697
Unaudited
30 Sep 25
Unaudited
30 Sep 24
(C) LEASE EXPENSES AND CASH FLOWS
Interest expense on lease liabilities 3,249 2,968
Depreciation expense on right-of-use assets 2,712 2,442
Cash outflow in relation to leases4,6854,397
Unaudited
30 Sep 25
Audited
31 Mar 25
(D) MATURITY ANALYSIS - CONTRACTUAL UNDISCOUNTED CASH FLOWS
Not later than 1 year10,0338,992
Later than 1 year and not later than 5 years39,86735,832
Later than 5 years
199,294178,413
249,194223,237
19
Radius Residential Care Interim Financial Statements 2026

3. SHAREHOLDER EQUITY AND FUNDING
3.1. Shareholder Equity and Reserves
Accounting Policy
Unaudited 30 Sep 25Audited 31 Mar 25
Shares$000Shares$000
SHARE CAPITAL
Authorised, issued and fully paid up capital283,383,17756,319284,737,25356,794
Total contributed equity283,383,17756,319284,737,25356,794
MOVEMENTS
Opening balance of ordinary shares issued284,734,25356,794284,876,74256,820
Shares issued to employees and service provid-
ers
— — 57,864 12
Share buyback scheme(1,351,076)(475)(197,353)(38)
Closing balance of ordinary shares issued283,383,17756,319284,734,25356,794
All ordinary shares are authorised and rank equally with one vote attached to each fully paid ordinary
share. The shares have no par value. The Group incurred no transaction costs issuing shares during the year
(31 March 2025: Nil).
During the period ended 30 September 2025,
1,351,076 ordinary shares were repurchased on market as part of the
Group’s on-market share buyback programme to purchase up to 0.7% if its ordinary shares from 23 December 2024
for a period of 12 months (31 March 2025: 197,353 ordinary shares were repurchased). All repurchased shares have
been subsequently cancelled.
Dividends
Dividend distributions to shareholders are recognised as a liability in the period in which dividends are declared. On
19 November 2025 a cash interim dividend of 1.0 cents per share (fully imputed) was declared in relation to the year
ended 31 March 2026 and will be paid on 18 December 2025.
On 21 May 2025 a final cash dividend of 0.80 cents per share (fully imputed) was declared and will be paid on 19
June 2025.
Unaudited 30 Sep 2025 Audited 31 Mar 2025
Cents per shareTotal $000Cents per shareTotal $000
RECOGNISED AMOUNTS
Prior year final dividend0.802,2770.701,994
Interim dividend
— —0.651,852
0.80 2,277 1.35 3,846
Dividend declared1.0 2,834 0.80 2,277
Asset Revaluation Reserve
The asset revaluation reserve is used to record the revaluation of freehold land and buildings.
Other Reserve
The other reserve is used to record the reserves arising in relation to share based payments by the Group.
20
Radius Residential Care Interim Financial Statements 2026

3.2. Earnings per share
Basic and Diluted
Basic earnings per share is calculated by dividing the profit after tax of the Group by the weighted average number
of ordinary shares outstanding during the year. Diluted earnings per share is calculated by adjusting the weighted
average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. As at
30 September 2025, there were no shares with a dilutive effect (30 September 2024: none) and therefore basic and
diluted earnings per share were the same.
In thousands of New Zealand dollars
Unaudited
30 Sep 25
Unaudited
30 Sep 24
Profit attributable to owners6,3311,972
Weighted average number of ordinary shares outstanding ('000s)284,281 284,890
Cents per share 2.23 0.69

3.3. Borrowings
Accounting Policy
Borrowings are initially recognised at fair value, including transaction costs incurred. Borrowings are subsequently
measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption
amount is recognised in the Statement of Comprehensive Income over the period of the borrowings, using the
effective interest method.

.
In thousands of New Zealand dollars
Unaudited
30 Sep 25
Audited
31 Mar 25
Secured liabilities
Current other loans127132
Non-current bank loans
66,50070,169
66,62770,301
Terms and Conditions and Assets Pledged as Security
Current
$000
Non-current
$000
Facility Limit
$000
Effective
Interest Rate
%
Expiry Date
30 September 2025
ASB Facility - A — 8,000 20,000 5.45%
15 June 2028
ASB Facility - B — 48,000 48,000 5.92%
15 June 2028
ASB Facility - C — 10,500 16,000 5.15%
15 June 2028
ASB Facility - D — — 4,000 5.72%
15 June 2027
Other loans 127 — —
127 66,500 88,000
31 March 2025
ASB Facility - A — 11,700 20,000 7.29%1 November 2026
ASB Facility - B — 9,694 9,700 6.78%1 November 2026
ASB Facility - C — 14,500 14,500 6.56%1 November 2026
ASB Facility - D — 23,675 23,675 7.95%6 May 2027
ASB Facility - F — 10,600 10,600 8.15%28 March 2027
Other loans132— 132
132 70,169 78,607
21
Radius Residential Care Interim Financial Statements 2026

Reorganisation of Borrowing Facilities
On 16 June 2025, the Group reorganised and extended
its committed market loans with ASB Bank Limited.
In addition to extending the expiry dates, the
changes included:
• Re-financing and consolidation of previous Facilities
B, C & D into a new Facility B;
• Refinancing previous Facility F into a new Facility
C, with additional capacity intended to finance the
acquisition of land in Belfast, Christchurch, which the
Group has previously committed to purchasing;
• Establishing a new Facility D to fund approved
development projects.
Interest Rate Swaps
The Group enters into interest rate swaps (derivatives)
to manage its exposure to interest rate risks. Derivatives
are initially recognised at fair value at the date a
derivative contract is entered into and are subsequently
remeasured to their fair value at each reporting date.
The resulting gain or loss is recognised in profit or
loss immediately unless the derivative is designated
and effective as a hedging instrument, in which event
the timing of the recognition in profit or loss depends
on the nature of the hedge relationship. A derivative
with a positive fair value is recognised as a financial
asset whereas a derivative with a negative fair value is
recognised as a financial liability. Derivatives are not
offset in the financial statements unless the Group has
both legal right and intention to offset.
A derivative is presented as a non-current asset or
a non-current liability if the remaining maturity of
the instrument is more than 12 months and it is not
expected to be realised or settled within 12 months.
Other derivatives are presented as current assets or
current liabilities.
The Group designates certain derivatives as hedging
instruments in respect of interest rate risk in
cash flow hedges.
ASB Bank Limited Loans
Security
The ASB Bank Limited bank committed money market
loans of the Group are guaranteed by certain Group
entities and secured by mortgages over the Group’s
care centre freehold land and buildings and rank second
behind the Statutory Supervisors when the land and
buildings are classified as investment property and
investment property under development.
As at 30 September 2025 the balance of the bank loans
over which the properties are held as security is $66.5m
(31 March 2025: $70.2m). The total facility limit as at 30
September 2025 is $88.0m (31 March 2025: $78.5m).
As at 30 September 2025, the Group also has a
Corporate Banking Overdraft Facility Agreement with
ASB Bank Limited for $2m (31 March 2025: $2m). This
facility bears interest at an effective interest rate of
6.01% (31 March 2025: 7.60%) and is secured over the
assets of the Group and guaranteed by certain Group
entities. At 30 September 2025 no balance was drawn
down (31 March 2025: Nil).
All facilities are interest bearing and repayable on the
expiry date of the loan.
Covenants
As at 30 September 2025, the Group classified
its secured borrowings of $66.5 million (31 March
2025: $70.2 million) as non-current liabilities. These
borrowings are subject to financial covenants under the
Group’s financing arrangements with ASB Bank Limited,
which are tested and reported quarterly. The ASB Bank
have set predetermined ratios within the financing
arrangements for each of the following covenants:
• Fixed Charge Cover ratio;
• Leverage ratio; and
• Equity ratio.
For covenant purposes, Adjusted EBITDA and Net
Interest are calculated based on accounting policies
applied prior to the adoption of NZ IFRS 16 Leases,
excluding the impact of right-of-use assets and lease
liabilities. The Group complied with all covenant
requirements during the reporting period and as at 30
September 2025. Based on management’s forecast and
assessment, continued compliance is expected for at
least the next 12 months, and there is no material risk
that the non-current borrowings will become repayable
within that period.

22
Radius Residential Care Interim Financial Statements 2026

4. OTHER DISCLOSURE
4.1. Income Tax
Key Accounting Estimates and Judgements
Deferred Tax on Investment Property
Deferred tax on investment property is assessed on the
basis that the asset value will be realised through use
(“Held for Use”).
An initial recognition exemption has been applied to
newly developed village sites in accordance with NZ IAS
12 Income Taxes.
The Group’s ORAs comprise two distinct cash flows
(being an ORA deposit upon entering the unit and the
refund of this deposit upon exit). In determining the
tax base of investment property, the Group considered
whether taxable cash flows are received at the end of
the ORA period (i.e., upon refund of the ORA deposit by
way of set off on exit by a resident) or at the beginning
of the ORA period (i.e., at time of the receipt of the
ORA deposit). The Group has carefully evaluated all
the available information and considers it appropriate
to recognise and measure the tax base and associated
deferred tax based on the taxable cash flows being
receivable at the end of the ORA period as this best
represents the Group’s contractual entitlement.
In calculating deferred tax under the Held for Use
methodology, the Group has made significant
judgements to determine taxable temporary differences.
The carrying value of the Group’s investment property
is determined on a discounted cash flow basis and
includes cash flows that are both taxable and non-
taxable in the future. The Group has recognised deferred
tax on the cash flows with a future tax consequence
being DMF as provided by LVC, to the extent that it
arises from depreciable components (i.e., buildings) of
the investment property. The Group uses the valuers
valuations to estimate the apportionment of cash flows
arising from the depreciable (i.e., buildings) and non-
depreciable components (i.e., land).

Radius Windsor Court - Ōhaupō
23
Radius Residential Care Interim Financial Statements 2026

For the six-months ended
In thousands of New Zealand dollars
Unaudited
30 Sep 25
Unaudited
30 Sep 24
(A) COMPONENTS OF TAX EXPENSE
Current tax1,4451,087
Deferred tax
462(299)
1,907788
(B) INCOME TAX RECONCILIATION
The prima facie tax payable on profit before tax is reconciled to the income tax expense as
follows:
Prima facie income tax payable on profit before tax at 28.0%2,390773
Permanent differences(422)14
(Over)/Under provision for income tax in prior year(61)—
Other—1
Income tax expense attributable to profit1,907788
Unaudited
30 Sep 25
Audited
31 Mar 25
(C) DEFERRED TAX
DEFERRED TAX ASSETS
Lease liabilities38,47834,355
Provisions2,4863,231
Deferred management fee income
— 74
40,96437,660
DEFERRED TAX LIABILITIES
Property, plant and equipment2,7232,779
Customer relationships228228
Deferred management fee166—
Right-of-use assets34,43430,668
Deferred tax impact from removal of depreciation on buildings
12,01412,124
49,56545,799
Net deferred tax liability(8,601)(8,139)
Unaudited
30 Sep 25
Unaudited
30 Sep 24
(D) DEFERRED INCOME TAX COMPRISES
Decrease/(Increase) in deferred tax assets(3,304)(27)
Decrease in deferred tax liabilities3,766(272)
Total deferred income tax462(299)
Deferred tax assets are recognised for deductible temporary differences as management considers that it is
probable that future taxable profits will be available to utilise those temporary differences.

24
Radius Residential Care Interim Financial Statements 2026

Unaudited
30 Sep 25
Audited
31 Mar 25
(E) IMPUTATION CREDITS AVAILABLE FOR USE IN SUBSEQUENT PERIODS
Balance at the beginning of the year8,1337,0 2 8
Dividends paid(886)(1,496)
Credits received from subsidiaries129—
New Zealand tax payments, net of refunds7502,601
Credits foregone following changes in shareholder continuity
1
(7,247)—
Balance at the end of the period879 8,133
1. On 22 May 2025, Wave Rider Holdings Limited (as trustee of the Wave Rider Trust), an entity associated with Brien Cree, sold its entire 95,312,500
shareholding in Radius Care to Kade Kings Limited (also associated with Brien Cree). This transfer contributed to a break in shareholder continuity,
causing the forfeiture of historical imputation credits.
4.2. Related Party Transactions
The following are the Group’s subsidiaries:
Name of EntityPrincipal Activities
Ownership Interests & Voting Rights
Class of Shares
Unaudited
30 Sep 25
Audited
31 Mar 25
Cibus Catering Limited
Residential catering – aged care and
boarding schools.
51%51%Ordinary
Clare House Retirement
Village Limited
Operating entity for Clare House
Retirement Village and property owning
entity for the Clare House
care home.
100%100%Ordinary
Elloughton Grange
Village Limited
Operating entity for Elloughton
Retirement Village.
100%100%Ordinary
Radius (Belfast) Limited
Future holding company for development
land in Christchurch.
100%0%Ordinary
Radius Care Holdings
Limited
Property owning entity for St
Helenas, Thornleigh Park, Lexham
Park, Elloughton Gardens,
Heatherlea, Windsor Court, Taupaki
Gables, Peppertree, St Joans and Fulton
care homes.
100%100%Ordinary
Radius Care Limited
(non-trading)
Dormant100%100%Ordinary
Radius Connect Limited
Staff placement company providing short
term staffing solutions and home care.
100%100%Ordinary
Radius Health LimitedDormant100%0%Ordinary
Radius SPV Limited
Property owning entity for Matamata
Country Lodge and Matamata
Retirement Village.
100%100%Ordinary
Matamata Retirement
Village Limited
Operating entity for Matamata
Retirement Village.
100%100%Ordinary
Windsor Lifestyle Estate
Limited
Operating entity for Windsor
Retirement Village.
100%100%Ordinary
All subsidiaries are incorporated in New Zealand and have a balance date of 31 March.
25
Radius Residential Care Interim Financial Statements 2026

Key Management Personnel Compensation and Other Related Parties
Key management personnel are all Directors and senior management with the authority for the strategic direction and
management of the Group.
Related PartyRelationship
Brien CreeDirector and Ultimate Shareholder (via Kade Kings Limited)
Bret JacksonDirector and Ultimate Shareholder (via Takatimu Investments Limited)
Duncan CookDirector and Shareholder
Hamish StevensDirector and Shareholder
Mary GardinerDirector
Tom WilsonDirector and Shareholder
Barefoot Crue LimitedCommon Director (Duncan Cook)
InforMe LimitedCommon Shareholder (Brien Cree and Duncan Cook)
Kade Kings Limited Common Director (Brien Cree)
Main Family TrustShareholder
Neil FosterShareholder
Providence TrustTrustee (Brien Cree)
Takatimu Investments LimitedShareholder
Tasman Advisory LimitedCommon Director (Bret Jackson)
Time Capital NZ LimitedCommon Director (Tom Wilson)
Valhalla Capital LimitedCommon Director (Brien Cree)
Warehouse Storage LimitedCommon Shareholder (Neil Foster)
Wave Rider Holdings LimitedCommon Shareholder (Brien Cree)
26
Radius Residential Care Interim Financial Statements 2026

For the six-months ended
In thousands of New Zealand dollars
Unaudited
30 Sep 25
Unaudited
30 Sep 24
Directors' remuneration and expenses280688
1
Dividends to Director related entities818716
Key Management personnel salaries and other short term employee benefits2,0811,864
Key Management personnel dividends
3—
3,1823,268
1. Included within Directors remuneration and expenses were fees relating to additional services provided in regards to strategic projects.
Other Related Parties
In thousands of New Zealand dollars
Unaudited
30 Sep 25
Unaudited
30 Sep 24
Catering services
- Cibus Catering Limited—4,440
Consulting fees
- Barefoot Crue Limited
1
259112
- Tasman Advisory Limited
2
17—
Rent paid
- Warehouse Storage Limited 909 560
Software fees
- InforMe Limited30—
Personal guarantee fee
- Brien Cree8585
Disposal of land and buildings (refer to note 4.3)
- Warehouse Storage Limited13,600—
1. Relates to services provided as General Counsel and additional services provided as part of the St Allisa acquisition.
2. Related to additional services provided as part of the share buyback scheme.
Assignment of an Agreement for the Purchase of Land from a Director
Brien Cree (Director) and the Group are party to an agreement (“the Assignment Agreement”), whereby, Mr Cree
has agreed to assign to the Group his rights under an agreement for sale and purchase of real estate (“Land SPA”),
to acquire a circa 4.3 hectare development property in Belfast, Christchurch (‘the development property’) from an
unrelated third party.
The balance of the purchase price under the land sale and purchase agreement amounting to $5.5m is payable to
the third party vendor on settlement, which will be completed when the title of the property is issued. It is currently
expected that title will be issued in late 2025.
Key Management Personnel Compensation
27
Radius Residential Care Interim Financial Statements 2026

4.3. Business Combination
On 30 May 2025, the Company acquired 100% of the assets and liabilities of St Allisa, a dementia, rest home and
hospital care home for the elderly. On the same day the land and building assets associated with the property were
sold to a third party landlord.
The initial accounting for the business combination is unaudited and the amounts reported are provisional.
The following are the provisional details of the purchase consideration, the net assets acquired and gain on
business acquisition:
Purchase consideration:
Fair Values
30 Sep 25
Cash paid 1,023
Total 1,023
The assets and liabilities recognised as a result of the acquisition are as follows:
Property, plant and equipment 14,670
Trade and other payables(56)
Trade and other receivables 9
Net assets and liabilities recognised 14,623
The assets and liabilities sold are as follows:
Property, plant and equipment (land and buildings)(13,600)
Net assets and liabilities sold (13,600)
Revenue and Profit Contribution
The acquired business contributed revenues of $793k and profit before tax of $141k to the group for the period from
30 May 2025 to 30 September 2025.
If the acquisition had occurred on 1 April 2025, pro-forma revenue and profit before tax for the six months ended 30
September 2025 would have been $1.19m and $0.21m respectively. These amounts have been calculated using the
business units results and adjusting them for:
• differences in the accounting policies between the group and the subsidiaries, and
• the additional depreciation and amortisation that would have been charged assuming the fair value adjustments
to property, plant and equipment had applied from 1 April 2025.
4.4. Long Term Incentive Plan (LTIP)
On 7 August 2025 the Shareholders approved a Long Term Incentive Scheme for senior executives (‘LTIP’).
Performance Hurdles
The Performance Share Rights (PSRs) have been divided into three tranches. All PSRs relevant to each tranche
will vest into ordinary shares in Radius if the 10-day VWAP, for the 10 trading days immediately prior to (and not
including) the grant date, is equal to or greater than the target share price. The three tranches are:
a. Tranche 1 will vest if the weighted average price of ordinary shares on the NZX Main Board over the 10 NZX
trading days (“10 Day VWAP”) before 31 July 2027 is equal to or greater than 44 cents.
b. If Tranche 1 does not vest, the share rights in that tranche will be added to and form part of Tranche 2, and will
be eligible to vest in accordance with (c) or (e) below.
c. Tranche 2 will vest if the 10 Day VWAP as at 31 July 2028 is equal to or greater than 66 cents.
d. If Tranche 2 does not vest, the share rights in that tranche will be added to and form part of Tranche 3, and will
be eligible to vest in accordance with (e) below.
e. Tranche 3 will vest if 10 Day VWAP as at 31 July 2029 is equal to or greater than 88 cents.
In addition, if:
• a “Change of Control Transaction” (that is a takeover, merger or the like) occurs which results in a person or
group becoming the controller of a majority of the voting shares of Radius Care; and
• the price or consideration per share paid in that Change of Control Transaction is equal to or greater than the
share price specified in (a), (c) or (e) above in respect of a tranche which has not vested, then the share rights in
that tranche will vest on completion of that Change of Control Transaction.
28
Radius Residential Care Interim Financial Statements 2026

Recognition and Measurement
On 7 August 2025, 11,363,644 share rights were issued for nil consideration and a nil exercise price in relation to the
LTIP Scheme.
During the period, no share rights were forfeited and no share rights were exercised or expired during the period.
The fair value of the share rights were determined using the Monte Carlo valuation approach.
On 18 July 2025, the preceding share scheme, issued on 18 July 2022, came to an end with no shares vesting under
the scheme.
4.5. Revenue from Contracts with Customers
Revenue from care and village fees and recoveries income is recognised in accordance with NZ IFRS 15 Revenue
from Contracts with Customers ("NZ IFRS 15"). Deferred management fees and rental income are considered leases
under NZ IFRS 16 Leases ("NZ IFRS 16"), and are therefore excluded from the scope of NZ IFRS 15.
Unaudited
30 Sep 25
Unaudited
30 Sep 24
Resthome, hospital and dementia fees86,170 76,976
Accommodation supplements5,951 5,289
Village service fees633 598
Other care related revenue293 200
Rental Income41 80
Catering revenue3,564 —
Other services 2,390 1,070
Total 99,042 84,213
4.6. Contingent Liabilities
There has been no change in contingent
liabilities disclosed in the 31 March 2025 annual
financial statements.
4.7. Commitments
At 30 September 2025, the Group has no capital
commitments (31 March 2025: $0.07m).
At 30 September 2025, the Group has a $5.5m (31
March 2025: $5.5m) commitment to acquire a 4.3
hectare development property in Belfast, Christchurch
as described in note 4.2 Related Party Transactions
'Assignment of an agreement for the purchase of land
from a Director'.
There are no significant unrecognised contractual
obligations entered into for future repairs and
maintenance at balance date.
4.8. Events Subsequent to Reporting Date
Dividends
On 19 November 2025, the Board declared an interim
dividend of 1.0 cents per share (fully imputed) to be paid
on 18 December 2025.
Other
There has been no other matter or circumstance,
which has arisen since 30 September 2025 that has
significantly affected or may significantly affect:
a. the operations, in financial years subsequent to 30
September 2025, of the Group or
b. the results of those operations, or
c. the state of affairs, in financial years subsequent to
30 September 2025, of the Group.

29
Radius Residential Care Interim Financial Statements 2026

Radius Residential Care Limited
ADDRESS
Level 4, 56 Parnell Road, Parnell, Auckland
PHONE
+64 9 304 1670
EMAIL
investor@radiuscare.co.nz
Caring is our calling

---

RESULTS ANNOUNCEMENT

Results for announcement to the market
Name of issuer Radius Residential Care Limited
Reporting Period 6 months to 30 September 2025
Previous Reporting Period 6 months to 30 September 2024
Currency NZD
Amount (000s) Percentage change
Revenue from continuing
operations
$100,217 17.4%
Total Revenue $101,896 18.4%
Net profit/(loss) from
continuing operations
$6,630 236.2%
Total net profit/(loss) $6,630 236.2%
Interim Dividend
Amount per Quoted Equity
Security
$0.01000000
Imputed amount per Quoted
Equity Security
$0.00388889
Record Date 4 December 2025
Dividend Payment Date 18 December 2025
Current period Prior comparable period
Net tangible assets per
Quoted Equity Security (in
dollars and cents per
security)
$0.21 $0.19
A brief explanation of any of
the figures above necessary
to enable the figures to be
understood
• Within the net profit amount of $6,630k is $299k which
relates to non-controlling interests of a partially owned
subsidiary.
• Please refer to attached documents (consolidated
interim financial statements, media release and results
presentation) for further information.
Authority for this announcement
Name of person

authorised
to make this announcement
Jeremy Edmonds
Contact person for this
announcement
Jeremy Edmonds
Contact phone number +64 22 650 9354
Contact email address Jeremy.Edmonds@radiuscare.co.nz
Date of release through MAP

19 November 2025

Unaudited financial statements accompany this announcement.

---

DISTRIBUTION NOTICE

Section 1: Issuer information
Name of issuer Radius Residential Care Limited
Financial product name/description Ordinary shares
NZX ticker code RAD
ISIN (If unknown, check on NZX
website)
NZRADE0005S4
Type of distribution
(Please mark with an X in the
relevant box/es)
Full Year Quarterly
Half Year X Special
DRP applies
Record date 4 December 2025
Ex-Date (one business day before the
Record Date)
3 December 2025
Payment date (and allotment date for
DRP)
18 December 2025
Total monies associated with the
distribution
$2,833,831.77
Source of distribution (for example,
retained earnings)
Retained Earnings
Currency NZD
Section 2: Distribution amounts per financial product
1

Gross distribution $0.01388889
Gross taxable amount $0.01388889
Total cash distribution $0.01000000
Excluded amount (applicable to listed
PIEs)
$ N/A
Supplementary distribution amount $ N/A
Section 3: Imputation credits and Resident Withholding Tax
Is the distribution imputed Fully imputed
If fully or partially imputed, please
state imputation rate as % applied
28%
Imputation tax credits per financial
product
$0.00388889
Resident Withholding Tax per
financial product
$0.00069444
Section 4: Authority for this announcement
Name of person

authorised to make
this announcement
Jeremy Edmonds
Contact person for this
announcement
Jeremy Edmonds

1
Additional shares are expected to be issued prior to the Ex-Date in accordance with the Company’s 10-year employee share scheme.
The dividend amount per share will remain unchanged.

Contact phone number
+64 22 650 9354

Contact email address Jeremy.Edmonds@radiuscare.co.nz
Date of release through MAP

19 November 2025

Radius to Release Half Year Result on Wednesday 19 November SPH Notice - Windhaven Care Holdings Limited

Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.