4Q25 METRICS – SALES OF OCCUPATION RIGHTS

Summerset Group Holdings Limited
Level 27 Majestic Centre, 100 Willis St, Wellington
PO Box 5187, Wellington 6140
Phone: 04 894 7320 | Fax: 04 894 7319
Website: www.summerset.co.nz
NZX & ASX RELEASE

20 January 2026

4Q25 METRICS – SALES OF OCCUPATION RIGHTS

Summerset Group reported 448 sales for the quarter ending 31 December 2025, comprising 207
new sales and 241 resales. The company ended the financial year with a full year result of 1,560
total settlements (an increase of 26 percent over FY24).

This full year result included 125 care bed conversions with Summerset continuing to transition
its care beds to being sold under Occupation Right Agreement (ORA). With these excluded, new
sales were 680, up 16 percent from the 588 new sales achieved in FY24.

Summerset CEO Scott Scoullar said the company is pleased to have seen the strong sales
momentum from earlier in the year continue into the final quarter.

“This is a positive result reflecting our hard work throughout the business to bring new residents
into our villages and to improve profitability of care at Summerset - it’s pleasing to achieve both a
record quarter and full year in this challenging market”, says Mr Scoullar.

Summerset’s highest new sales village performers for the quarter were Summerset Boulcott,
Summerset by the Dunes Pāpāmoa, Summerset St Johns, and Summerset Pohutukawa Place.

“We’ve worked hard to deliver sales across all our villages, but it was especially pleasing to
deliver such strong sales results at our large metro villages in Boulcott and St Johns which have
large volumes of new homes delivered as their apartment blocks are completed.

“It was also particularly pleasing to see resales finish the year strongly with the business now
having only 2.7 percent of the portfolio uncontracted, down from 3.0 percent at FY24.”

During FY25 the company delivered 637 units to be sold under ORA in NZ and 56 in Australia, in
line with its target range of 600 to 650 in NZ and 50 to 80 in Australia. Summerset closed the
year with a 31% increase in contracted new sale stock over the past 12 months, while
uncontracted new sale stock was in line with FY24. Relative to 1H25, total new sale stock in the
second half was down almost 2 percent, a period that included the delivery of 226 units in Q4.

These deliveries included the final large apartment blocks at St Johns, the village centre
buildings at Cambridge and Cranbourne North, along with ten homes at our second Australian
village, Chirnside Park.

Summerset has continued its measured and considered development in Australia as it grows
across the ditch. “We opened presales for 28 homes at Chirnside Park late last year and 50% of
these have already presold.”

Mr Scoullar said that overall the company had a strong sales year in difficult trading conditions.
Looking ahead, the business has a strong pipeline of committed sales contracts heading into
2026.
Summerset will release its FY25 Annual Report on Friday 27 February 2026.
ENDS

FY25 SALES OF OCCUPATION RIGHTS

1Q25 2Q25 3Q25 4Q25 FY25
New sales 119 196 194 171 680
Care bed conversions 13 26 50 36 125
Total new sales 132 222 244 207 805
Resales 158 180 176 241 755
Total sales 290 402 420 448 1,560

FY24 SALES OF OCCUPATION RIGHTS


1Q24
2Q24 3Q24
4Q24
FY24
New sales 134 156 129 169 588
Care bed conversions - - - - -
Total new sales 134 156 129 169 588
Resales 121 177 160 192 650
Total sales 255 333 289 361 1,238

FY25 NEW SALES BY HOME TYPE

1Q25 2Q25 3Q25 4Q25 FY25
Villas 61 108 107 94 370
Apartments 8 16 16 22 62
Serviced Apartments 19 19 22 21 81
Memory care apartments 6 4 6 14 30
Care suites and beds 25 49 43 20 137
Total (excl. conversions) 119 196 194 171 680
Care bed conversions 13 26 50 36 125
Total new sales 132 222 244 207 805

FY25 RESALES SALES BY HOME TYPE

1Q25 2Q25 3Q25 4Q25 FY25
Villas 75 82 79 86 322
Apartments 4 13 11 18 46
Serviced Apartments 51 59 42 81 233
Memory care apartments 10 6 16 18 50
Care suites and beds 18 20 28 38 104
Total resales 158 180 176 241 755

NOTES:
• Occupation right sales volumes represent the number of occupation rights settled in the period and differ from
retirement unit deliveries which represents the number of new homes for which construction was completed in the
period.
• The quarterly sales metrics provided may not necessarily reflect NZ IFRS financial performance for the
corresponding period. In particular, key items in the income statement, such as the fair value movement of
investment property, are dependent on several variables, of which one is occupation right sales. NZ IFRS
financial performance is calculated for the periods ending 30 June and 31 December each year.

For investor relations enquiries: For media enquiries:
Margaret Warrington Louise McDonald
Chief Financial Officer Senior Communications & Media Advisor
investor.relations@summerset.co.nz louise.mcdonald@summerset.co.nz
+64 21 246 3793

ABOUT SUMMERSET

• Summerset is one of the leading operators and developers of retirement villages in New
Zealand, with 40 villages completed or in development nationwide
• In addition, Summerset owns seven proposed sites at Belmont (Auckland), Rotorua (Bay
of Plenty), Mission Hills (Napier), Masterton (Wairarapa), Otaihanga (Kāpiti Coast),
Rolleston (Canterbury), and Mosgiel (Dunedin)
• Summerset also has four villages in development (Cranbourne North, Chirnside Park,
Torquay and Oakleigh South) and owns three other proposed sites in Victoria, Australia
(Craigieburn, Drysdale and Mernda)
• Summerset provides a range of living options and care services to more than 9,500
residents