1Q26 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
7 April 2026

1Q26 METRICS – SALES OF OCCUPATION RIGHTS

Summerset Group reported 365 sales for the quarter ending 31 March 2026, comprising 177
new sales and 188 resales. Total new sales increased by 34% and resales increased 19%,
compared to Q1 2025.

Summerset Chief Executive Scott Scoullar said the increase in quarterly sales reflected
continued demand across Summerset’s villages.

“We’re pleased with the momentum we saw through the quarter, and we’re carrying a solid
pipeline of sales into Q2,” he said.

“The first quarter of the year typically has lower sales volumes, January and early February can
be quiet as our prospective residents are on holiday. Despite the seasonal challenges our team
has done a great job of bringing new residents into our villages.”

In the first quarter Summerset opened the village centre buildings at its Cambridge and
Waikanae villages and will open the new buildings at Summerset Mt Denby in Whangarei and
Summerset Cranbourne North in Victoria, Australia in Q2.

The company remains on track to build a further 650-700 homes across New Zealand and 100-
150 in Australia in 2026.

Fuel price increases and Summerset’s response

Mr Scoullar said Summerset has been monitoring the Middle East conflict closely and its
subsequent impacts on pricing, particularly fuel.

“Since fuel prices began rising in early March we’ve kept a close watch on our key indicators.
Currently we’re not seeing impacts to our sales or demand.

“Over the last four weeks our sales contracts have been up approximately 13% when compared
to our year-to-date average. Our contract cancellations haven’t changed during that time either
and our demand remains high – in fact we had our highest March ever for customer enquiry. We
are mindful that there’s obviously a high degree of uncertainty in the market currently, so if we
see changes in demand or slowed settlements, we’ll keep investors informed.”

Mr Scoullar said the company has a strong procurement programme and was not seeing any
material price impacts on construction costs at this time.

“Like all businesses, we are expecting to see price increases flow through in the coming months
if the Middle East conflict continues and fuel prices stay elevated.

“We are planning for how we manage our business with this price volatility in the market and
we’re continuing to stay very focused on costs. We’ll be increasing the use of our EV fleet as we
need to, reducing air travel and making other prudent decisions as we learn more.

“We have a strong balance sheet to manage through issues like this, we’ve got plenty of
headroom in our banking facility should we need it and the support of our banking syndicate.

“We’re not making any changes to our day-to-day operations right now. We have plans in place
for several scenarios and will remain adaptable to how things could evolve and we’ll manage as
we know more.”

ENDS

YTD26 SALES OF OCCUPATION RIGHTS

1Q26 YTD26
New sales 150 150
Care bed conversions 27 27
Total new sales 177 177
Resales 188 188
Total sales 365 365

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

FY26 NEW SALES BY HOME TYPE

1Q26 YTD26
Villas 64 64
Apartments 25 25
Serviced Apartments 24 24
Memory care apartments 9 9
Care suites and beds 28 28
Total (excl. conversions) 150 150
Care bed conversions 27 27
Total new sales 177 177

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

FY26 RESALES SALES BY HOME TYPE

1Q26 YTD26
Villas 75 75
Apartments 13 13
Serviced Apartments 54 54
Memory care apartments 13 13
Care suites and beds 33 33
Total resales 188 188

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