Third quarter trading update

RYMAN HEALTHCARE LIMITED 1
NZX & ASX RELEASE
Third quarter trading update
15 January 2026
Ryman Healthcare reports 375 sales of retirement living occupation right agreements (ORAs) for the
quarter ending 31 December 2025 (Q3 FY26), including 101 new sales and 274 resales.

Total sales were broadly flat on Q2 with a shift in mix across product types. As expected, new sales
of independent living units eased following the opening of Nellie Melba Stage 4 in the prior quarter,
while new sales of serviced apartments were strong across New Zealand and Australia. Resales
were steady overall reflecting regional mix, with relocations from Margaret Stoddart and
Woodcote to other Christchurch villages contributing.

Occupancy continued to grow in Ryman’s recently opened aged care centres and remained
strong in mature care centres
1
at 96.0% in Q3, up from 95.8% in Q2.

CEO Naomi James said, “We maintained sales momentum through to the holiday break, amid
mixed housing market conditions and heightened competition continuing in some regions. We also
continue to see growing demand for our high-quality care offering. While sales volumes are still
rebuilding, we’re encouraged by clear progress in key metrics like contract conversion and
cancellation rates – proof that our sales strategies are working, and lead quality is improving.
Looking ahead, we expect continued market variability, but our focus remains firmly on driving
sales effectiveness and controlling the factors within our reach.”

FY26 ORA sales guidance remains unchanged at 1,300 – 1,400. Guidance excludes resident
relocations from Margaret Stoddart and Woodcote following the closure of care centres at these
villages ( expected to be less than 40), which are included in reported sales volumes.



1
Mature aged care centres exclude six developing care centres which have not yet reached 90% occupancy, Woodcote
and Margaret Stoddard care centres (both closed in Q3 FY26) and Edmund Hillary (care capacity reopened in H1 FY26
following completion of relevelling works).

RYMAN HEALTHCARE LIMITED 2
Sales of occupation right agreements (ORAs) for retirement village units
Sales volume (#)

FY25 FY26
Q1 Q2 Q3 Q4 Q1 Q2 Q3
New sales
Independent
79 90 93 71 56 75 61

Serviced
22 33 16 12 17 18 40
Total
101 123 109 83 73 93 101
Resales
Independent
123 155 137 100 133 119 133

Serviced
156 169 148 119 131 155 141
Total
279 324 285 219 264 274 274
Total
Independent
202 245 230 171 189 194 194

Serviced
178 202 164 131 148 173 181
Total
380 447 394 302 337 367 375
Notes: Includes ORA sales on retirement village units only and excluded ORAs and RADs on aged care accommodation.
Sales are recognised when a resident takes occupation of a retirement village unit, which typically aligns with settlement.
FY26 sales include ORAs from residents who have elected to relocate to other Ryman villages from Margaret Stoddart and
Woodcote following the closure of care centres at these villages (Q2: 5 sales, Q3: 32 sales).


ENDS

Authorised by
Morgan Powell
General Counsel

About Ryman
Ryman Healthcare was founded in Christchurch in 1984 and owns and operates 49 retirement
villages in New Zealand and Australia. Ryman villages are home to 15,300 residents, and the
company employs 7,800 staff.



Contacts
For investor relations information
Hayden Strickett, Head of Investor Relations
hayden.strickett@rymanhealthcare.com


For media information
Sarah Greig, GM Corporate Affairs &
Communication
sarah.greig@rymanhealthcare.com