Internalisation Update – IRD Binding Ruling

V ITA L H E A L T H C A R E P R O P E R T Y TRUST
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24 March 2026


Internalisation Update – IRD Binding Ruling
Vital Healthcare Property Trust (Vital) is pleased to announce that it has received a binding
ruling from Inland Revenue confirming that the $214m internalisation payment is fully
deductible for income tax purposes.
This outcome is consistent with the assumptions underlying Vital’s internalisation
announcement of 10 November 2025.
As a result of the ruling, Vital currently expects that distributions for at least the next three
years will be excluded income to investors, reflecting the trust’s tax position following
internalisation.

– ENDS –

ENQUIRIES
Chris Adams
Chief Executive Officer,
Vital Healthcare Properties Management Limited
Tel +61 408 665 332, Email chris.adams@vhpt.co.nz

Michael Groth
Chief Financial Officer,
Vital Healthcare Properties Management Limited
Tel +61 409 936 104, Email michael.groth@vhpt.co.nz

About Vital (NZX code VHP):
Vital Healthcare Property Trust is an NZX-listed fund that invests in high-quality healthcare
properties in New Zealand and Australia including private hospitals (~80%* of portfolio
value) and ambulatory care facilities (~20%* of portfolio value).

Vital is the leading specialist listed landlord of healthcare property in Australasia. For more
information, please visit our website: www.vhpt.co.nz

* All figures are as at 31 December 2025, NZD/AUD exchange rate of 0.8627.
NZX RELEASE