Radius Care Reports Earnings Growth and 50% Higher Dividend

13 May 2026

Radius Care Reports Earnings Growth and 50% Higher Dividend
Radius Residential Care Limited (NZX: RAD) today released its audited financial
statements for the year ended 31 March 2026, highlighting strong growth, record
earnings and the continued benefits of a business strategy centred on delivering
high-quality aged care.
Highlights:
• Profit Before Tax was $14.3m, up 37% on FY25
• Net Profit After Tax was $9.5m, up 34% on FY25.
• Available Funds from Operations
1
(AFFO), was $12.7m, up 44% on FY25.
• Underlying EBITDA of $27.4m
2
, up 17% on FY25.
• Annualised EBITDAR per bed (on a same site basis) was $31.1k
3
for the period,
up 11% on $27.9k reported for FY25.
• Final cash dividend of 1.2 cents per share (fully imputed), up 50% on the
previous final dividend of 0.8 cents per share.
• Occupancy averaged 94.9% for the period, up 2.1 percentage points on FY25.
People
Andrew Peskett, Radius Care’s CEO, commented: “Behind Radius Care’s strong
performance is an exceptional team of around 2,000 people who show up every
day with commitment, skill and genuine care for our residents. I want to thank
every member of our team for the outstanding work they do across the country.
Their dedication continues to underpin our growth, our results, and most
importantly, the quality of care we provide. We are also delighted to welcome the
residents and team at Karori Village to Radius Care later this month as we expand
our presence to include Wellington.”
Business Performance
Radius Care’s business has reported another strong operating and financial
performance for the year, delivering growth across all metrics.
Occupancy was maintained at high levels, averaging 94.9% for the year. Continued
accommodation supplement growth and disciplined management of operating
costs led to Care EBITDAR per bed growing to $31.1k
3
, 11% above the $27.9k
reported for FY25.

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, adjusted to exclude the
purchase/sale of care homes in their first/last part year of operation

With limited vacant retirement village unit stock as of 30 September 2025, second
half resales gains were at a lower level than the first half.
Financial Performance
Profit Before Tax and Net Profit After Tax for the year included the benefit of lower
bank interest costs of $4.7m, a decrease of $1.5m on the pcp. Profit Before Tax
increased to $14.3m (up 37% on the pcp) and Net Profit After Tax increased to
$9.5m (up 34% on the pcp).
Underlying EBITDA was $27.4m, 17% up on the pcp. EBITDAR per bed (on a same
site basis) was was $31.1k for the year (an increase of 11% on the $27.9k reported for
FY25). These results were driven by stronger occupancy and other operating
metrics across the business.
Other financial metrics also demonstrated growth on the pcp. Revenue increased
14% on the prior period to $202.3m. Operating cash flow was $25.1m (up 25% on
the pcp). Available Funds from Operations (AFFO) was $12.7m.
Dividend and Capital Management
The Board has declared a final cash dividend of 1.2 cents per share for the FY26
year, a 50% increase on the previous year’s final 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 11 June 2026, with a record date of 28 May 2026. The total
cash dividend for the year was 2.2cps, compared to 1.45cps for the pcp, and
represents a gross yield of 8.0% on the average share price for 2H26.
Record operating cash flow during the year delivered further progress against the
company’s capital management framework targets, providing funding for both
increased dividend payments and execution of growth initiatives. Net Bank Debt
was $68.7m following the recent settlement of Belfast land, and net bank debt
leverage was 2.5x, consistent with the group’s medium-term target. The group has
significant debt headroom providing funding certainty for our development
priorities.
Care expansion driving growth
The recent acquisition of the 90-bed and 14-unit Karori Village care home,
expected to complete on 26 May 2026, will further expand our core business with
the company’s first entry into the Wellington region. The acquisition will be
funded by core debt facilities and will be immediately accretive to earnings. This
builds on last year’s acquisition and upgrade of St Allisa, which is now 100%
occupied and profitable.
Radius also completed the purchase of land in Belfast (northern Christchurch) in
March 2026. Bulk earthworks have commenced in preparation for the
construction of Radius Care’s first new-build care home using our bespoke design
for hospital-level and dementia care. A village with approximately 80 villas will also
be built in stages.

Radius Care continues to focus on building scale within its core care offering by
progressing new build expansion plans at several sites around the country,
including the previously announced 80-bed care home development in Hokitika.
Following the commencement of construction in Belfast, we expect to accelerate
development of new-build care homes, with a large pipeline of projects around the
country supported by private property investors.
Brownfield development, adding incremental value to existing retirement villages,
is progressing, with six villas under construction at Matamata and a further six at
Clare House (Invercargill) to commence in 2026. Both projects are expected to be
complete within FY27.
Supporting growth through innovation and home care
The Radius Shop is proud to support the aged care sector with the launch of
Luma
®
, a range of continence products designed by our clinicians for use
specifically for the elderly. This will better support our residents and drive
significant savings for our care homes and accelerated growth for the Radius Shop.
Radius Care’s expansion into home support services is broadening the company’s
reach beyond residential care, with a growing number of clients receiving home
care and rehabilitation support nationwide. The continued growth of this service is
increasing Radius Care’s market presence and enabling the company to support
more New Zealanders with flexible, high-quality care in the community.
“Radius Care’s FY26 performance reflects the strength of our focus on care and the
disciplined execution of our growth strategy. Recent acquisitions and the purchase
of land in Belfast position us well to expand care capacity, deliver our first new-
build care homes, and continue growing with the support of private investors. I’m
also excited about the upcoming launch of Luma
®
and the continued expansion of
our home support services, which will further extend the reach of Radius Care,”
said Brien Cree, Radius Care’s Executive Chair.
Outlook
Radius Care expects continued underlying growth in key financial metrics in FY27.
This growth will be further boosted by the addition of Karori’s 90 beds and 14 units
to the portfolio from 27 May 2026.

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.
The company currently operates 24 aged care homes across New Zealand, of which it owns
12 and leases 12, with Karori Village in Wellington set to become its 25th on 26 May 2026.
Radius Care also provides retirement village living at four sites, an online shop supplying
specialist assisted-living products, home support and rehabilitation services, and a 51%
holding in Cibus Catering, a provider of menu planning, nutrition management and food
services to the aged care sector, including to 15 independently owned sites. Radius Care
employs more than 2,000 people across its operations. For more information visit
radiuscare.co.nz.

---

Full Year
Result
Presentation
F o r t h e y e a r e n d e d 3 1 M a r c h 2 0 2 6
1 3 M a y 2 0 2 6

2FY26 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

3FY26 Investor Presentation
Agenda

01
Overview of FY26 Performance
Best ever operating and financial performance
02
Analysis of Result
Record EBITDA and operating cash flow
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
Radius Windsor Court

4FY26 Investor Presentation
FY26 Financial Highlights
PROFIT BEFORE TAX
+37%
From $10.5m to $14.3m in FY26
PROFIT FOR THE YEAR
+34%
From $7.0m to $9.5m in FY26
UNDERLYING EBITDA
1
+17%
From $23.5m to $27.4m in FY26
EBITDAR
2
PER OCCUPIED CARE BED
+11%
From $27.9k in FY25 to $31.1k
3
in
FY26
FINAL CASH DIVIDEND
+50%
From 0.8cps to 1.2cps in FY26
AVAILABLE FUNDS FROM
OPERATIONS
1
+44%
From $8.8m to $12.7m in FY26
FINANCING COSTS
-25%
From $6.1m in FY25 to $4.6m in
FY26
LEVERAGE
-0.4X
From 2.9x in FY25 to 2.5x in FY26
1.Earnings before interest, tax, depreciation and amortization. AFFO and Underlying EBITDA are non-GAAP (unaudited) financial measures and are reconciled to GAAP measures in the
appendices included in this Investor Presentation.
2.Earnings before interest, tax, depreciation, amortisation and rent. Underlying EBITDA are non-GAAP (unaudited) financial measures and are reconciled to GAAP measures in the
appendices included in this Investor Presentation.
3.Adjusted to exclude the purchase of one care home.

5FY26 Investor Presentation
Performance Improvement since Listing
5.8
10.5
10.7
14.2
20.9
23.5
27.4
0.0
5.0
10.0
15.0
20.0
25.0
30.0
$m
FY21FY26FY20FY22FY23FY24FY25
Underlying EBITDA
1
-3.3
2.0
3.1
-3.0
3.6
10.5
14.3
-6.0
-4.0
-2.0
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
$m
FY21FY26FY20FY22FY23
FY24
FY25
Reported Profit Before Tax
17.2
19.5
20.5
20.4
25.3
27.9
31.1
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
$000
FY21FY26FY20FY22FY23FY24FY25
Underlying EBITDAR
2
per Care Bed (like for like EBITDAR
3
)
1,704
1,715
1,784
1,889
1,7891,789
1,898
1,300
1,400
1,500
1,600
1,700
1,800
1,900
2,000
FY21FY26FY20FY22FY23FY24FY25
Number of Care Beds (period end)
1.Earnings before interest, tax, depreciation and amortization. AFFO and Underlying EBITDA are non-GAAP (unaudited) financial measures and are reconciled to GAAP measures in the
appendices included in this Investor Presentation.
2.Earnings before interest, tax, depreciation, amortisation and rent. Underlying EBITDA are non-GAAP (unaudited) financial measures and are reconciled to GAAP measures in the
appendices included in this Investor Presentation.
3.Adjusted to exclude the purchase/sale of care homes in their first/last part year of operation.

6FY26 Investor Presentation
FY26
Business
Highlights
Strong operating
performance
delivers excellent
financial results.
STRONG OPERATING PERFORMANCE
•Profit Before Tax of $14.3m.
•NPAT of $9.5m.
•17% growth in Underlying EBITDA
1
.
•Final cash dividend of 1.2 cents per
share (fully imputed) declared, +50%
on prior period.
•Total FY26 dividends represent an 8%
gross dividend yield.
•FY26 average occupancy of 94.9%, up
from 92.8% in FY25.
•Improved mix of higher-revenue
hospital and specialist care residents.
•Lower financing costs.
HIGHLY ENGAGED TEAM
Over 2,000 team members
providing exceptional care in our
fully staffed care homes.
STRATEGIC ACQUISITIONS
Acquisition of St Allisa, our 24th
care home, completed on 30
May 2025.
25th care home, Karori, to be
settled 26 May 2026.
FAVOURABLE INDUSTRY DYNAMICS
Increasing occupancy
underpinned 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.

7FY26 Investor Presentation
Exceptional People,
Exceptional Care
AUDIT RESULTS
We lead the industry with our
audit results, achieving
maximum certification through
strong governance, effective
leadership, and consistently
high-quality care.
LOW STAFF TURNOVER
Remains low at 18%, better
than industry peers.
Radius Windsor Court
POSITIVE WORK ENVIRONMENT
Our prioritisation of employee
wellbeing is supported by an
employee eNPS survey score of
+20. This is an improvement of
25% since 2023.
•more tailored and streamlined
training and development
opportunities,
•50% internal management
promotions,
•flexible rosters.

8
8FY26 Investor Presentation
Analysis
ofResult
Radius Taupaki Gables - AucklandRadius Matamata Country Lodge

9FY26 Investor Presentation
Financial Performance Overview
3.6
10.5
14.3
0.0
5.0
10.0
15.0
20.0
$m
FY24FY25FY26
Profit Before Tax
FY26 PBT+37% 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.
FY26 Profit Before Tax was
$14.3m, up +37% on FY25.
Reported NPAT was $9.5m
for FY26, up +34% on FY25.
1.FY24 NPAT includes a one-off deferred tax adjustment of $11.3m relating to the NZ Government decision to remove tax deductibility of
depreciation on commercial buildings.
Net Profit After Tax
FY26 NPAT+34% vs pcp
2.9
7.0
9.5
-8.5
-10.0
-8.0
-6.0
-4.0
-2.0
0.0
2.0
4.0
6.0
8.0
10.0
12.0
$m
FY24
1
FY25FY26

10FY26 Investor Presentation
17% Underlying EBITDA Growth
20.9
23.5
27.4
0.0
5.0
10.0
15.0
20.0
25.0
30.0
$m
FY24FY25
FY26
Underlying EBITDA
Underlying EBITDA of $27.4m, +17% vs pcp
25.3
27.9
31.1
20.0
25.0
30.0
35.0
$000
FY24FY25
FY26
(on a like for like basis, adjusted for the
purchase of one care home in FY25 and sale
of one care home in FY24)
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.
$3.8m growth in
Underlying EBITDA is
fully reflected in PBT
growth.

11FY26 Investor Presentation
14% Revenue Growth
9.8
10.8
12.2
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
$m
FY24FY25FY26
Accommodation Supplements
+12% vs pcp
171.2
177.4
202.3
0.0
50.0
100.0
150.0
200.0
250.0
$m
FY24FY25FY26
Total Revenue
1
FY26 total revenue +14% 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.

12FY26 Investor Presentation
0.7
1.45
2.2
0.0
0.5
1.0
1.5
2.0
2.5
cps
FY25FY26
FY24
1
Total Cash Dividend (cps)
FY26 +52% vs pcp
7.4
8.8
12.7
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
$m
FY24
FY25
FY26
AFFO
FY26 +44% vs pcp
F I N A L D I V I D E N D
FY26 Final cash dividend of
1.2 cents per share (with
full imputation credits of
0.47 cps).
Final dividend +50% above
prior period (0.8cps).
Total FY26 cash dividend
2.2cps (fully imputed),
representing a gross yield
of 8.0%.
FY26 total dividend payout
49% of AFFO.
DATES
•27 May 2026, ex-
dividend.
•28 May 2026, record
date.
•11 June 2026, payment.
AFFO and Dividend
1.No interim cash dividend declared in 1H24.

13FY26 Investor Presentation
73.5
67.7
68.7
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
90.0
100.0
$m
FY24FY25FY26
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:
1.Net Bank Debt to Underlying EBITDA (earnings before interest, tax, depreciation and amortization). Underlying EBITDA is a non-
GAAP (unaudited) financial measure.
1.2cps Dividend, fully imputed
FY26 final dividend +50% above
FY25, providing dividend growth
while supporting increased
growth capex.
Reduced Leverage
Leverage (Net Bank Debt to
Underlying EBITDA) reduced to
our medium-term target of
2.5x.
Growth Capex / M&A
Purchased St Allisa for $1.1m in May
2025, adding 109 beds. Acquired
development land at Clare House
($0.5m) and Matamata ($0.8m).
Settled on development land in
Christchurch in March ($5.5m).
Share Buyback
Completed the share buyback
scheme, returning surplus capital
to shareholders. Repurchased
1.4m shares at a cost of $0.5m.
3.5x2.9x
2.5x
Leverage
Ratio
1

14FY26 Investor Presentation
Growth

15FY26 Investor Presentation
Karori Purchase
Care Expansion - M&A
Radius Care has a strong track record of undertaking
acquisitions where we can add value.
The upcoming acquisition of Karori on 27 May 2026 will
provide an opportunity to deliver profitable growth with
minimal capital investment.
Karori will be immediately accretive to FY27 PBT.
90
Care beds
$13.6m
Net investment
14
Vacant ORA units

16FY26 Investor Presentation
Transforming St Allisa
Care Expansion – M&A
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 now fully occupied following
upgrade investment.
109
Care Beds
$1.8m
Net Investment
($1.1m Chattels / $0.7m Upgrade)

17FY26 Investor Presentation
Radius Care is progressing development of up to 20 new build
80 / 100 bed care homes funded by private landlords.
Bespoke design supports high quality and high acuity care with
efficient operations.
Earthworks for the first two developments have commenced.
New Builds
Care Expansion

18FY26 Investor Presentation
Village Growth

NEW VILLAGE DEVELOPMENT
While our primary focus is expanding care, some new build care
homes come with spare land, creating the opportunity to develop
retirement villages of 50 - 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.
Bulk earthworks have commenced.
BROWNFIELD DEVELOPMENT – 12 VILLAS
Construction is currently underway for six additional villas at
Matamata Country Lodge.
Additional land has been acquired at Clare House, also allowing a
six-villa development. Construction will commence later this year.
Radius Matamata Country Lodge
Belfast, Christchurch

19FY26 Investor Presentation
Luma®

Radius Care is proud to support the aged care
sector with the launch of Luma®, a range of
continence products designed by our clinicians
for use specifically for the elderly. While it
improves the quality and cost of our internal
supply, it also opens the door to wider
opportunities across the aged care sector.
Over time we see strong potential in developing
external sales — supplying products to other
aged care providers and building relationships
with healthcare distributors who share our
standards and values.

20FY26 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 IN-HOME CARE
Private in-home support is
client 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 IN-HOME CARE
Radius Care 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 client’s
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.

21FY26 Investor Presentation
Outlook
T R A D I N G U P DAT E
•Karori: 90 new care beds and 14
villas from May 2026.
O U T LO O K
•Radius Care expects growth in
key financial metrics for the
FY27 year compared to the
comparative period.
•FY27 will be further
boosted by the addition of
Karori’s 90 beds to the
portfolio from 27 May 2026.
Radius Heatherlea – New Plymouth
Radius Elloughton Gardens - Timaru

22FY26 Investor Presentation
5.8
10.5
10.7
14.2
20.9
23.5
27.4
0.0
5.0
10.0
15.0
20.0
25.0
30.0
$m
FY21FY26FY20FY22FY23FY24FY25
Underlying EBITDA
1
-3.3
2.0
3.1
-3.0
3.6
10.5
14.3
-6.0
-4.0
-2.0
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
$m
FY21FY26FY20FY22FY23
FY24
FY25
Reported Profit Before Tax
17.2
19.5
20.5
20.4
25.3
27.9
31.1
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
$000
FY21FY26FY20FY22FY23FY24FY25
Underlying EBITDAR
2
per Care Bed (like for like EBITDAR
3
)
1,704
1,715
1,784
1,889
1,7891,789
1,898
1,300
1,400
1,500
1,600
1,700
1,800
1,900
2,000
FY21FY26FY20FY22FY23FY24FY25
Number of Care Beds (period end)
1.Earnings before interest, tax, depreciation and amortization. AFFO and Underlying EBITDA are non-GAAP (unaudited) financial measures and are reconciled to GAAP measures in the
appendices included in this Investor Presentation.
2.Earnings before interest, tax, depreciation, amortisation and rent. Underlying EBITDA are non-GAAP (unaudited) financial measures and are reconciled to GAAP measures in the
appendices included in this Investor Presentation.
3.Adjusted to exclude the purchase/sale of care homes in their first/last part year of operation.
Q&A

23FY26 Investor Presentation
Radius St Helenas
Appendices
Radius Glaisdale - Hamilton

24FY26 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
N A P I E R
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
Karori
Wellington
+90 care beds
+14 ILUs
from 27 May
W E L L I N G T O N
( F R O M 2 7
TH
M A Y )
SitesBeds
ILUs
Total
19014104

25FY26 Investor Presentation
Key operational and financial metrics
Operating Metrics
FY26FY25FY24
Number of Care Beds (period end)
1
1,8981,7891,789
Average Care Bed Occupancy
2
94.9%92.8%91.8%
Underlying EBITDAR per Care Bed
3
($000s) – like for like sites$31.1$27.9$25.3
Accommodation Supplements Revenue
$12.2m$10.8m$9.8m
Number of beds with Accommodation Supplement charged (March)962882801
Number of Units (period end)
4
148148148
Number of existing Unit resales181828
Realised gains on resales ($m)$1.8$1.5$1.8
Average resale price ($000s)$441$427$391
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 5.1 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
FY26FY25FY24
Aged Care
190.9168.6166.0
Retirement Village
3.63.53.8
Group support & other
7.85.31.4
Total revenue
5
202.3177.4171.2
Underlying EBITDAR Split
$m
FY26FY25FY24
Aged Care
53.646.242.7
Retirement Village
3.22.84.5
Group support & other
(19.7)(16.7)(17.6)
Underlying EBITDAR
37.132.329.6

26FY26 Investor Presentation
Financials
Statement of
Comprehensive Income
A P P E N D I X 3
($000)FY26FY25
Revenue
Revenue200,098175,286
Deferred management fees2,1812,129
Total revenue202,279177,415
Change in fair value of investment property1,6803,088
Reversal of revaluation losses recognised in prior periods1,495-
Interest income61148
Total revenue and other income205,515180,651
Expenses
Employee costs(123,048)(106,282)
Depreciation, amortisation and impairment(13,206)(10,398)
Finance costs(11,580)(12,153)
Other expenses(43,342)(41,344)
Total expenses(191,176)(170,177)
Profit before income tax14,33910,474
Income tax expense(4,286)(3,075)
Profit for the year10,0537,399
Profit Attributable to
Owners of the company9,4577,034
Non-controlling interests596365
Total profit10,0537,399

27FY26 Investor Presentation
($000)FY26FY25
Assets
Cash and cash equivalents2,8232,571
Trade and other receivables12,98813,485
Inventories581579
Right-of-use assets125,570109,529
Investment properties80,49277,124
Property, plant and equipment134,051118,214
Intangible assets17,88818,068
Total assets374,393339,570
Liabilities
Trade and other payables25,90422,860
Current tax liabilities2,5362,490
Interest rate swaps203282
Borrowings71,56470,301
Deferred management fees6,9477,357
Refundable occupation right agreements38,90637,843
Put option to purchase the non-controlling interest1,1271,127
Lease liabilities141,512122,697
Deferred tax liability9,3778,139
Total liabilities298,076273,096
Net assets76,31766,474
Equity
Share capital56,35356,794
Reserves14,1708,217
Retained earnings5,7941,463
COMPRISING OF:
Equity attributable to owners of the Group76,09066,233
Non-controlling interests227241
Total equity76,31766,474
Financials
Statement of
Financial Position
A P P E N D I X 4

28FY26 Investor Presentation
Financials
Statement of Cash Flows
($000)FY26FY25
Cash flows from operating activities
Receipts from residents for care fees and village fees200,347176,188
Payments to suppliers and employees(163,119)(145,644)
Proceeds from the sale of Refundable Occupation Right Agreements7,5757,140
Payments for the repurchase of Refundable Occupation Right Agreements(4,791)(4,639)
Interest received61148
Interest paid – borrowings(4,558)(6,065)
Interest paid – lease liabilities(6,898)(5,934)
Income tax paid(3,496)(1,141)
Net cash provided by operating activities25,12120,053
Cash flows from investing activities
Proceeds from the sale of property, plant and equipment13,63919
Payment for acquisition of businesses(14,670)(1,938)
Cash acquired in business acquisition-999
Payments for the purchase of property, plant and equipment(14,385)(5,843)
Payments for village developments(1,688)(508)
Net cash used in investing activities(17,121)(7,271)
Cash flows from financing activities
Repurchase of shares(475)(38)
Proceeds from borrowings14,8315,350
Repayment of borrowings(13,568)(11,095)
Principal payments of lease liabilities(2,830)(2,932)
Dividends paid(5,723)(3,846)
Net cash used in financing activities(7,765)(12,561)
Reconciliation of cash and cash equivalents
Cash and cash equivalents at beginning of the year2,5712,350
Net increase in cash and cash equivalents held252221
Cash and cash equivalents at end of year2,8232,571
A P P E N D I X 5

29FY26 Investor Presentation
Financials
Underlying Earnings
and AFFO
Calculation
A P P E N D I X 6
($000)FY26FY25
Profit before income tax14,33910,474
Remove: Non-controlling interests(837)(491)
Profit attributable to owners13,5029,983
Remove: Change in fair value of investment property(1,824)(3,088)
Include: Realised gains on resales1,8241,481
Remove: Impairment expense1,373-
Remove: Depreciation expense11,76110,398
Remove: Interest income(61)(148)
Remove: Interest expense11,57912,153
Include: Pre-NZ IFRS 16 operating lease expense(9,731)(8,865)
EBITDA28,42321,913
Underlying adjustments:
Long term incentive plan345-
Other adjustments(1,389)1,562
Underlying EBITDA27,37923,475
Net interest expense (bank and other loans)(4,680)(6,219)
Underlying tax expense(4,067)(3,070)
Depreciation on physical assets(5,976)(5,388)
AFFO12,6568,798

30FY26 Investor Presentation
Directory of care homes
A P P E N D I X

7
OWNED
CARE HOMELOCATION
CARE
BEDS
UNITSTOTAL
Taupaki GablesKumeu60-60
St JoansHamilton82-82
Windsor CourtOhaupo762298
Matamata Country LodgeMatamata8146127
Lexham ParkKatikati63-63
HeatherleaNew Plymouth55-55
Thornleigh ParkNew Plymouth87-87
PeppertreePalmerston North62-62
St HelenasChristchurch52-52
Elloughton GardensTimaru8654140
Fulton HomeDunedin93-93
Clare House Invercargill692695
Total owned at 13 May 20268661481,014
KaroriWellington9014104
Total owned from 27 May 20269561621,118
•Average current
lease term of 18.8
years.
•Average time to
final expiry of 25.2
years.
LEASED
CARE HOMELOCATION
CARE
BEDS
UNITSTOTAL
BaycareNorthland45-45
Potter HomeWhangarei55-55
Rimu ParkWhangarei55-55
WaipunaAuckland86-86
GlaisdaleHamilton80-80
KensingtonHamilton96-96
AlthorpTauranga119-119
MatuaTauranga149-149
Hampton CourtNapier45-45
HawthorneChristchurch94-94
St AllisaChristchurch109-109
MillstreamAshburton99-99
Total leased at 13 May 20261,032-1,032
Total owned & leased at 13 May 20261,8981482,046
Total owned & leased at 27 May 20261,9881622,150

31FY26 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

32FY26 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 full year result for the period to 31 March 2026. As such, it should be read in
conjunction with the audited consolidated financial statements for Radius Care and its subsidiaries for the period ended 31 March 2026
(“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.

33FY25 Investor Presentation
Thank You
Radius Thornleigh Park – New Plymouth

---

Financial
Statements
2026

2
RADIUS CARE FINANCIAL STATEMENTS 2026
CONSOLIDATED
Statement of Comprehensive Income
For the year ended
In thousands of New Zealand dollars
NOTE
31 March 2026 31 March 2025
REVENUE
Revenue2.1200,098175,286
Deferred management fees2.12,1812,129
Total revenue202,279177,415
Change in fair value of investment property3.11,6803,088
Reversal of revaluation losses recognised in prior periods
3.2
1,495—
Interest income61148
Total revenue and other income205,515180,651
EXPENSES
Employee costs(123,048)(106,282)
Depreciation, amortisation and impairment2.2(13,206)(10,398)
Finance costs2.2(11,580)(12,153)
Other expenses2.2(43,342)(41,344)
Total expenses(191,176)(170,177)
Profit before income tax 14,33910,474
Income tax expense5.1(4,286)(3,075)
Profit for the year10,0537,399
OTHER COMPREHENSIVE INCOME FOR THE YEAR
Items that will be reclassified subsequently to profit and loss
Revaluation of land and buildings3.26,144—
Income tax on other comprehensive income 5.1(493)—
Fair value gain/(loss) on hedged interest rate swaps4.479(282)
Other comprehensive income for the year5,730(282)
Total comprehensive income15,7837,117
PROFIT ATTRIBUTABLE TO
Owners of the company9,4577,0 3 4
Non-controlling interests5.8596365
Total profit10,0537,399
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO
Owners of the company15,1876,752
Non-controlling interests5.8596365
Total comprehensive income15,7837,117
EARNINGS PER SHARE
Basic and diluted earnings per share (cents per share)4.2 3.332.47
The Consolidated Statement of Comprehensive Income should be read in conjunction with the accompanying notes.

3
RADIUS CARE FINANCIAL STATEMENTS 2026
CONSOLIDATED
Statement of Changes in Equity
For the year ended 31 March
2026
In thousands of New Zealand
dollars
NOTE
Contributed
Equity
Other
Reserves
Retained
Earnings Total
Non-
Controlling
InterestTotal Equity
BALANCE AS AT 1 APRIL 202556,7948,2171,22266,23324166,474
Profit for the year——9,4579,45759610,053
Revaluation of land and buildings—5,651—5,651—5,651
Cash flow hedges — effective
portion of changes in fair value
4.4—79—79—79
Total comprehensive income for
the year
—5,7309,45715,18759615,783
Transactions with owners
Share buyback4.1(475)——(475)—(475)
Share based payments4.134224—258—258
Dividends paid4.1——(5,113)(5,113)(610)(5,723)
Total transactions with owners(441)224(5,113)(5,330)(610)(5,940)
BALANCE AS AT 31 MARCH 202656,35314,1715,56676,09022776,317
BALANCE AS AT 1 APRIL 2024 56,820 9,578 (1,966) 64,432 — 64,432
Profit for the year — — 7,0 3 4 7,0 3 4 365 7,399
Cash flow hedges — effective
portion of changes in fair value
4.4 — (282) — (282) —(282)
Total comprehensive income for
the year
— (282) 7,0 3 4 6,752 365 7,117
Transactions with owners
Share buyback4.1(38) — — (38)—(38)
Share based payments4.112 48 — 60 — 60
Dividends paid4.1 — — (3,846)(3,846)—(3,846)
Total transactions with owners(26)48 (3,846)(3,824) —(3,824)
Other changes in equity
Acquisition of subsidiary with a
NCI1 interest
————(124)(124)
Put option to purchase the NCI’s
of a subsidiary
4.1—(1,127)—(1,127)—(1,127)
Total other changes in equity —(1,127)—(1,127)(124)(1,251)
BALANCE AS AT 31 MARCH 202556,7948,2171,22266,23324166,474
The Consolidated Statement of Changes in Equity should be read in conjunction with the accompanying notes.
1. Non-controlling interest.

4
RADIUS CARE FINANCIAL STATEMENTS 2026
CONSOLIDATED
Statement of Financial Position
The Board of Directors of the Company authorised these consolidated financial statements for issue on 13 May 2026.
For and on behalf of the Board.
Brien Cree
Chair, Board of Directors
Hamish Stevens
Chair, Audit and Risk Committee
As at
In thousands of New Zealand dollars
NOTE
31 March 2026 31 March 2025
ASSETS
Cash and cash equivalents2,8232,571
Trade and other receivables5.312,98813,485
Inventories581579
Right-of-use assets3.4125,570109,529
Investment properties3.180,49277,124
Property, plant and equipment3.2134,051118,214
Intangible assets5.217,88818,068
Total assets 374,393 339,570
LIABILITIES
Trade and other payables5.425,90422,860
Current tax liabilities2,5362,490
Interest rate swaps4.4203282
Borrowings4.371,56470,301
Deferred management fees3.36,9477, 3 57
Refundable occupation right agreements3.338,90637,843
Put option to purchase the non-controlling interest4.11,1271,127
Lease liabilities3.4141,512122,697
Deferred tax liabilities5.19,3778,139
Total liabilities 298,076 273,096
NET ASSETS76,31766,474
EQUITY
Share capital4.156,35356,794
Reserves 4.114,1708,217
Retained earnings5,7941,463
COMPRISING OF
Equity attributable to owners of the Group76,090 66,233
Non-controlling interests5.8227241
Total equity 76,317 66,474
The Consolidated Statement of Financial Position should be read in conjunction with the accompanying notes.

5
RADIUS CARE FINANCIAL STATEMENTS 2026
CONSOLIDATED
Statement of Cash Flows
For the year ended
In thousands of New Zealand dollars
31 March 2026 31 March 2025
Receipts from residents for care fees and village fees200,347176,188
Payments to suppliers and employees(163,119)(145,644)
Proceeds from the sale of Refundable Occupation Right
Agreements
7, 5757,140
Payments for the repurchase of Refundable Occupation Right
Agreements
(4,791)(4,639)
Interest received61148
Interest paid - borrowings(4,558)(6,065)
Interest paid - lease liabilities(6,898)(5,934)
Income tax paid(3,496)(1,141)
Net cash provided by operating activities 25,12120,053
Proceeds from the sale of property, plant and equipment13,63919
Payment for acquisition of businesses5.6(14,670)(1,938)
Cash acquired in business acquisition5.6—999
Payments for the purchase of property, plant and equipment3.2(14,385)(5,843)
Payments for village developments(1,688)(508)
Net cash used in investing activities(17,104)(7,271)
Repurchase of shares4.1(475)(38)
Proceeds from borrowings 14,8315,350
Repayments of borrowings(13,568)(11,095)
Principal payments of lease liabilities(2,830)(2,932)
Dividends paid4.1(5,723)(3,846)
Net cash used in financing activities(7,765)(12,561)
Cash and cash equivalents at beginning of the year2,5712,350
Net increase in cash and cash equivalents held252221
Cash and cash equivalents at end of year2,8232,571
The Consolidated Statement of Cash Flows should be read in conjunction with the accompanying notes.

6
RADIUS CARE FINANCIAL STATEMENTS 2026
For the year ended
In thousands of New Zealand dollars
31 March 2026 31 March 2025
RECONCILIATION OF PROFIT FOR THE YEAR TO NET
CASH PROVIDED BY OPERATING ACTIVITIES
Profit for the year 10,0537,399
ADJUSTMENTS FOR NON-CASH ITEMS
Depreciation, amortisation and impairment 13,206 10,398
Share based payments 380 60
Net loss/(gain) on disposal of property, plant and equipment 39—
Fair value adjustment to investment properties(1,680) (3,088)
Movement in deferred tax 745 1,438
Goodwill on business acquisition — (253)
Reversal of revaluation losses recognised in prior periods(1,495)—
CHANGES IN OPERATING ASSETS AND LIABILITIES
Trade and other receivables and other assets 87 856
Inventories(2) 71
Trade and other payables and other liabilities 2,6792,005
Current tax liabilities 46 749
Refundable Occupation Rights Agreements 1,063 418
Net cash provided by operating activities 25,121 20,053
CONSOLIDATED
Statement of Cash Flows (continued)
The Consolidated Statement of Cash Flows should be read in conjunction with the accompanying notes.
In thousands of New Zealand dollarsBorrowings
Lease
Liabilities
Total
BALANCE AS AT 1 APRIL 202570,301122,697192,998
Proceeds from borrowings14,831—14,831
Repayment of borrowings and lease liabilities(13,568)(2,830)(16,398)
Total changes from financing cash flows1,263(2,830)(1,567)
Non-cash changes
Additions—16,54216,542
Remeasurements—5,1035,103
Balance as at 31 March 202671,564141,512213,076
BALANCE AS AT 1 APRIL 202475,869121,086196,955
Proceeds from borrowings5,350—5,350
Repayment of borrowings and lease liabilities(11,095)(2,932)(14,027)
Loan acquired in business acquisition177—177
Total changes from financing cash flows(5,568)(2,932)(8,500)
Non-cash changes
Remeasurements—4,5434,543
Balance as at 31 March 202570,301122,697192,998
RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES
Changes in the carrying amount of such liabilities, which comprise bank borrowings and lease liabilities, are
summarised below.

7
RADIUS CARE FINANCIAL STATEMENTS 2026
Notes
1. GENERAL INFORMATION
1.1. Basis of Preparation
Reporting Entity
The consolidated 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
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 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 Financial Reporting Standards (‘NZ
IFRS’), International Financial Reporting Standards (‘IFRS’) and
other applicable New Zealand Financial Reporting Standards, as
appropriate for for-profit entities. The Group is a Tier 1 for-profit
entity in accordance with XRB A1 Application of the Accounting
Standards Framework.
The consolidated 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 financial statements are presented in New Zealand
dollars which is the Group’s functional and presentation currency.
All amounts have been rounded to the nearest thousand, unless
otherwise indicated.
Measurement Basis
These consolidated financial statements have been prepared under
the historical cost convention, except for the following items which
are measured on a fair value basis or using fair value techniques:
• Investment properties (Note 3.1)
• Land and buildings within property, plant and equipment
(Note 3.2)
• Derivative financial instruments, including interest rate swaps and
cash flow hedges (Note 4.4)
• Assets and liabilities recognised in business combinations
(Note 5.6)
• Equity-settled share-based payment arrangements,
including the long-term incentive plan (Note 5.7)
• The valuation of the put option associated with
non-controlling interests (Note 4.1)
The measurement basis for each of these items is
described in the relevant accounting policy notes.
Key Estimates and Judgements
The Board of Directors and Management are required to
make judgements, estimates and assumptions in applying
the accounting policies. The assumptions, estimates and
judgements applied are based on experience and relevant
information the Board and Management believe are
reasonable. Actual results may differ from the estimates,
judgements and assumptions made by the Board of
Directors and Management.
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 3.1)
• Valuation of land and buildings (Note 3.2)
• Determination of lease terms and incremental
borrowing rates for lease liabilities and right-of-use
assets (Note 3.4)
• Recognition of deferred tax assets and liabilities
(Note 5.1)
• Impairment testing of goodwill (Note 5.2)
• Business combinations (Note 5.6)
• Derivative financial instruments, including interest rate
swaps and cash flow hedges (Note 4.4)
• Equity-settled share-based payment arrangements,
including the long-term incentive plan (Note 5.7)
• The valuation of the put option associated with
non-controlling interests (Note 4.1)
New and Amended Accounting Standards and
Interpretations
A number of new and amended accounting standards
and interpretations have been issued but are not yet
effective for the year ended 31 March 2026 and have not
been early adopted by the Group.

Amendments to NZ IFRS 9 and NZ IFRS 7 – Classification
and Measurement of Financial Instruments

The amendments clarify certain requirements relating
to the classification and measurement of financial
instruments and associated disclosures. The amendments
are effective for annual reporting periods beginning on
or after 1 January 2026. The Group does not expect the
adoption of these amendments to have a material impact
on its financial statements.

8
RADIUS CARE FINANCIAL STATEMENTS 2026
Annual Improvements to NZ IFRS Accounting Standards 2024
The Annual Improvements introduce minor amendments to a
number of NZ IFRS Accounting Standards. The Group does
not expect these amendments to have a material impact on its
financial statements.

NZ IFRS 18 – Presentation and Disclosure in Financial Statements
NZ IFRS 18 will replace NZ IAS 1 Presentation of Financial
Statements and introduces new requirements aimed at improving
the presentation and disclosure of information in the financial
statements. The standard introduces defined subtotals in the
statement of profit or loss, including operating profit, enhanced
guidance on aggregation and disaggregation of information, and
new disclosures relating to management-defined performance
measures. NZ IFRS 18 also introduces limited changes to the
statement of cash flows.
NZ IFRS 18 is effective for annual reporting periods beginning on
or after 1 January 2027. The Group is currently assessing the impact
of the standard on its financial statements. While the standard
does not introduce changes to recognition or measurement, it
is expected to have a material impact on the presentation and
disclosure of the Group’s financial statements.
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. The Ministry of Health
is a significant customer of the Group as disclosed in Note 2.1, 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.
1.2. Accounting Policies
Material accounting policies which are relevant to
understanding the consolidated financial statements are
disclosed in each of the applicable notes. They have been
applied on a consistent basis across all periods presented
in these consolidated financial statements.
Measurement of Fair Value
For financial reporting purposes, ‘fair value’ is the
price that would be received to sell an asset, or paid
to transfer a liability, in an orderly transaction between
market participants (under current market conditions)
at the measurement date, regardless of whether that
price is directly observable or estimated using another
valuation technique.
When estimating the fair value of an asset or liability, the
Group uses valuation techniques that are appropriate
in the circumstances and for which sufficient data is
available to measure fair value, maximising the use of
relevant observable inputs and minimising the use of
unobservable inputs. Inputs to valuation techniques
used to measure fair value are categorised into three
levels according to the extent to which the inputs are
observable:
• Level 1 inputs are quoted prices (unadjusted) in active
markets for identical assets or liabilities that the entity
can access at the measurement date.
• Level 2 inputs are inputs other than quoted prices
included within Level 1 that are observable for the asset
or liability, either directly or indirectly.
• Level 3 inputs are unobservable inputs for the asset
or liability.
Further information about the assumptions made in
measuring fair values is included in Notes 3.1, 3.2, 4.4,
5.6 and 5.7.

9
RADIUS CARE FINANCIAL STATEMENTS 2026
2. OPERATING PERFORMANCE
2.1. Revenue
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.
Care and Village Fees and Recoveries Income
The Group derives revenue from the provision of residential care and related services. Rest home, hospital dementia,
and service fee charges (including accommodation supplements) are governed by individual care admission agreements
with residents.
Residents are charged a daily care fee, with the care fee component set by the Government annually, while other charges
(including accommodation supplements and additional services) are determined by the Group in accordance with the
relevant agreements. Revenue is recognised net of any rebates provided to residents.
The Group derives care fee revenue in respect of eligible Government subsidised aged care residents who receive rest home,
dementia or hospital level care. Government aged care subsidies received from Health New Zealand included in care fees and
village services amounted to $118.1m (2025: $104.8m).
There are no elements of variable consideration of significant financing component associated with care and village fees and
recoveries income.
Village fees are detailed within each resident's Occupation Right Agreements (ORAs) and relate to the operating costs of the
village. Revenue is recognised based on the daily or weekly fees charged, reflecting the period a resident has occupied a unit.
The performance obligation of providing the care and village services is satisfied over time, as the resident simultaneously receives
and consumes the benefits of the service as it is provided. Billing and revenue recognition are generally done during the same
period that the performance obligation is satisfied. Payments received in advance are recorded on the statement of financial
position as a contract liability and subsequently recognised through profit or loss when the services are rendered.
For the year ended
In thousands of New Zealand dollars
31 March 202631 March 2025
Rest home, hospital and dementia fees 175,805 156,006
Accommodation Supplements
12,156 10,850
Village service fees 1,272 1,215
Other care related revenue609319
Rental income83 118
Catering revenue5,791 3,503
Other services4,382 3,275
Total200,098 175,286
Lease Income
Deferred Management Fees
Occupation Right Agreements (ORAs) confer the right to occupy a retirement unit and are considered leases under
NZ IFRS 16 Leases.
A management fee is payable by the residents of the Group’s independent living units for the right to share in the use and
enjoyment of common facilities. The management fee is calculated as a percentage of the ORA amount and accrues either daily,
monthly or annually for a set period, based on the terms of the individual contracts. The current ORAs accrue management fees at
rates ranging from 6.67% to 10% per annum.
The management fee is payable in cash by the resident at the time of repayment (to the resident) of the refundable ORA amount
due. The Group has the right to set off of the refundable occupation right agreement amount and the management fee receivable.
At year end, the management fee receivable that has yet to be recognised through profit or loss as management fee revenue is
recognised as a deferred management fee liability in the statement of financial position.

10
RADIUS CARE FINANCIAL STATEMENTS 2026
Key Accounting Estimates and Judgements
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 and villas (2025: Eight years for villas and three to four years for serviced apartments).
2.2. Expenses
For the year ended
In thousands of New Zealand dollars
NOTE
31 March 2026 31 March 2025
DEPRECIATION OF PROPERTY, PLANT AND EQUIPMENT
Buildings3.21,3381,344
Motor vehicles3.2180158
Furniture, fixtures and fittings3.23,3952,910
Information technology3.2712714
Medical equipment3.2424262
AMORTISATION OF INTANGIBLE ASSETS
Customer relationships5.2
18090
6,2295,478
DEPRECIATION OF RIGHT-OF-USE ASSETS
Land and buildings3.4
5,6044,920
5,6044,920
IMPAIRMENT OF DEVELOPMENT PROJECTS
Work in progress3.2
1,373—
1,373—
Total depreciation, amortisation & impairment13,20610,398
FINANCE COSTS
Interest — bank and vendor financing4,6826,219
Interest — lease liabilities3.46,8985,934
Total finance costs11,58012,153
OTHER EXPENSES
Fees paid to Auditors
Audit of consolidated financial statements222236
Tax compliance services
1
—28
Agreed upon procedures engagement
1110
Total fees paid to auditor233274
Care home operating expenses23,59126,065
Cost of goods sold7,4233,847
Operating rental expenses relating to low value and short-term leases4137
Directors' fees and expenses581981
Donations and sponsorships2625
Loss/(gain) on sale of property, plant and equipment2(4)
Other expenses (no items of individual significance)11,44510,119
Total other expenses43,34241,344
1. In the 2026 year the tax compliance services were no longer performed by the same firm as the auditors.

11
RADIUS CARE FINANCIAL STATEMENTS 2026
3. PROPERTY ASSETS
3.1. 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 (ORA). 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.
Deferred management fees, are accounted for as described in Note 2.1.
As at
In thousands of New Zealand dollars
NOTE
31 March 2026 31 March 2025
INVESTMENT PROPERTIES
Opening carrying amount77,12473,528
Net fair value gain1,6803,088
Occupation Right Agreements settled(6,101)(6,659)
Occupation Right Agreements entered6,1016,659
Purchases1,678508
Other adjustments10—
Closing carrying amount80,49277,124
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 30,849 28,850
Refundable Occupation Right Agreements3.3 38,906 37,843
Deferred management fees3.3 6,947 7, 3 57
Unsold/vacant units 1,150 1,100
Residential properties
2,640 1,974
80,492 77,124
Valuation Process and Key Inputs
The Group’s investment properties are valued on an annual basis. This year the valuations were undertaken by LVC Limited
(LVC), an independent valuer. 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 are adjusted for balances relating to refundable ORA payments and management fees
receivable recognised separately on the Consolidated Statement of Financial Position and also reflected in the valuation model.
Unsold Units
Any developed but not yet sold units (unsold 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 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.

12
RADIUS CARE 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 following assumptions have been used to determine fair value:
Sensitivities
Adopted Value of
Operator’s Interest
Discount RateProperty Growth Rates
AS AT 31 MARCH 2026
+0.5%-0.5%+0.25%-0.25%
Valuation $NZ000's30,849
Difference $NZ000's(900)8501,150(1,200)
Difference %(2.9%)2.8%3.7%-3.9%
AS AT 31 MARCH 2025
+0.5%-0.5%+0.25%-0.25%
Valuation $NZ000's28,850
Difference $NZ000's(950)9001,050(1,250)
Difference %(3.3%)3.1%3.6%(4.3%)
The occupancy period is a significant component of the valuations. LVC consider the demographic profile of the village (age
and gender of residents) and the average occupancy period depending on the type of unit and averages within the industry.
Subsequent changes in residents are then calculated based on the period of occupancy expected for each resident as at the date of
the valuation. An increase in the stabilised departing occupancy period will have a negative impact on the valuation and a decrease
in the stabilised departing occupancy will have a positive impact on the valuation. The valuation calculates the expected cash flows
with stabilised departing occupancy assumptions set out on the next page.
Significant Input

As at31 March 2026 31 March 2025
Stabilised occupancy period — villas8.0 yrs - 9.0 yrs8.0 yrs - 9.0 yrs
Stabilised occupancy period — serviced apartments3 yrs3-4 yrs
The ingoing price achieved on subsequent ORA resales is a key unobservable input in the determination of fair value. 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.
Significant InputDescription
Inter-relationship Between the Key
Inputs and Fair Value Measurement
20262025
Discount
rate
Villas and
serviced
apartments
The pre-tax
discount rate
A significant increase/(decrease)
in the discount rate would result in
a significantly (lower)/higher fair
value measurement.
15.5% - 19.0%15.5% - 19.0%
Property price growth rate
Villas
0 - 4 years
anticipated
annual property
price growth over
the cash flow
A significant increase/
(decrease) in the property price
growth rate would result in a
significantly higher/(lower) fair
value measurement.
0.5% - 2.5%0.5% - 2.5%
Serviced
apartments
0% - 2.5%0% - 2.5%
Villas and
serviced
apartments
5+ years
anticipated
annual property
price growth over
the cash flow
A significant increase/
(decrease) in the property price
growth rate would result in a
significantly higher/(lower) fair
value measurement.
2.50%2.50%

13
RADIUS CARE FINANCIAL STATEMENTS 2026
3.2. 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. All other property, plant and equipment are measured at cost less accumulated depreciation and
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 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 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.
Carrying Value of Assets at Historical Cost
The carrying amount at which both land and buildings would have been carried had the assets been measured under historical
costs is as follows:
As at
In thousands of New Zealand dollars
31 March 2026 31 March 2025
Land and buildings 97, 570 91,322
Accumulated depreciation (5,159) (3,972)
Total 92,411 87,350

14
RADIUS CARE FINANCIAL STATEMENTS 2026
Reconciliation of Carrying Amount
In thousands of
New Zealand dollars
Land and
Buildings
Motor
Vehicles
Furniture,
Fixtures and
Fittings
Information
Technology
Medical
Equipment
Work in
ProgressTotal
YEAR ENDED 31 MARCH 2026
Opening net book value96,01643612,0841,4291,0577,1 9 2118,214
Additions5,5471185,5464449262,00714,588
Business combination
1
13,60059611390—14,670
Revaluation
2
7,640—————7,640
Transfers700—1,013122150(1,985)—
Disposals
1
(13,600)(6)(33)———(13,639)
Impairment
3
—————(1,373)(1,373)
Depreciation(1,338)(180)(3,395)(712)(424)—(6,048)
Closing net book value108,56537316,1751,2971,7995,842134,051
AS AT 31 MARCH 2026
Cost108,5701,88950,4078,1563,2215,842178,085
Accumulated Depreciation(5)(1,515)(34,232)(6,860)(1,422)—(44,034)
Net book value108,56537316,1751,2971,7995,842134,051
In thousands of
New Zealand dollars
Land and
Buildings
Motor
Vehicles
Furniture,
Fixtures and
Fittings
Information
Technology
Medical
Equipment
Work in
ProgressTotal
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 value 96,016 436 12,084 1,429 1,057 7,1 92 118,214
AS AT 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
1. On 30 May 2025 the land and buildings of St Allisa care home were purchased and subsequently sold and leased back on the same day for $13.6 million.
2. The revaluation noted in the Statement of Comprehensive Income differs from the above due to deferred tax.
3. During the year, a partial impairment of capitalised development costs was recognised for costs no longer aligned with updated project scope following a detailed review of
development plans.

15
RADIUS CARE FINANCIAL STATEMENTS 2026
Valuations
As at 31 March 2026
The Group’s thirteen properties included in land and buildings were revalued on 31 March 2026 to $108.6 million from a carrying
value immediately prior of $101.0 million, resulting from a revaluation gain of $6.1 million in other comprehensive income and a
reversal of previous valuation losses of $1.5 million in the profit and loss statement. The fair values of the thirteen revalued land
and buildings on freehold land have been determined by reference to independent valuations obtained as at 31 March 2026. These
valuations were undertaken by a Property Institute of New Zealand registered valuer, LVC Limited. LVC, an external independent
valuation company employing registered valuers, has appropriate recognised professional qualifications.
As at 31 March 2025
The Group’s twelve properties included in land and buildings were revalued on 31 March 2023. Management assessed that these
freehold land and buildings did not experience any significant and volatile changes in fair value necessitating a revaluation as at 31
March 2025. This assessment was informed by advice provided by the Group’s land and buildings Valuer, LVC Limited (LVC) (who
provides valuation services to the Group) who provided a valuation update report confirming that the carrying amounts of these
freehold land and buildings did not differ materially from that which would be determined using fair value as at 31 March 2023.
Key Accounting Estimates and Judgements
Property measurements are categorised as Level 3 (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.
Sensitivities
As at 31 March 2026Adopted Value Capitalisation Rate
Valuation $NZ000's108,565
+0.5%-0.5%
Difference $NZ000's(8,000)6,950
Difference %(7.4%)6.4%
As at 31 March 2023
Valuation $NZ000's112,510
+0.5%-0.5%
Difference $NZ000's(7,900)9,200
Difference %(7.0%)8.2%

3.3. 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 5.0%
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, Note 2.1. The management fee receivable is recognised in accordance with the terms of the resident’s ORA.

16
RADIUS CARE FINANCIAL STATEMENTS 2026
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 (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.
The expected maturity of the refundable obligations to residents is beyond 12 months.

As at
In thousands of New Zealand dollars
NOTE
31 March 2026 31 March 2025
REFUNDABLE OCCUPATION RIGHT AGREEMENTS
Refundable occupation right agreements 54,907 53,418
Less: Management fee receivable (per contract)(16,001) (15,575)
Refundable Occupation Right Agreements 38,906 37,843
RECONCILIATION OF MANAGEMENT FEES RECOGNISED UNDER
NZ IFRS AND PER ORA
Management fee receivable (per contract)(16,001) (15,575)
Deferred management fees2.1 6,947 7, 3 57
Management fee receivable (per NZ IFRS)(9,054) (8,218)
COMPRISING OF
Current deferred management fees 2,022 2,038
Non-current deferred management fees 4,925 5,319
Deferred management fees 6,947 7, 3 57
3.4. Leases
Right-of-use Assets
Right-of-use assets are initially recognised at cost, comprising the amount of the initial measurement of the lease liability, any
lease payments made at or before the commencement date of the lease, less any lease incentives received, any initial direct costs
incurred by the Group, and an estimate of costs to be incurred by the Group in dismantling and removing the underlying asset,
restoring the site on which it is located or restoring the underlying asset to the condition required by the terms and conditions of
the lease.
Subsequent to initial recognition, lease assets are measured at cost (adjusted for any remeasurement of the associated lease
liability), less accumulated depreciation and any accumulated impairment loss. Right-of-use 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.
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.

17
RADIUS CARE FINANCIAL STATEMENTS 2026
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 the Group’s 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 relevant facts and circumstances that
create an economic incentive to exercise an extension option or not to exercise a termination option. Extension options, or periods
after termination options, are included in the lease term only when the Group is reasonably certain to exercise those options. In
making this assessment, the Group generally includes the first renewal period where it is assessed as reasonably certain to be
exercised. Subsequent renewal periods are not included in the lease term unless there is a clear economic incentive that makes their
exercise reasonably certain. This assessment is reviewed if a significant event or significant change in circumstances occurs that is
within the Group’s control and affects this assessment. Extension options assessed as reasonably certain to be exercised have been
included in the measurement of the Group’s lease liabilities.
The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is
generally the case for leases in the Group, the lessee’s incremental borrowing rate is used, being the rate that the individual lessee
would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic
environment with similar terms, security and conditions. The weighted average incremental borrowing rates applied by the Group is
5.1% (2025: 5%). One new lease was entered into during the year (2025: None) and no leases were cancelled during the year (2025:
No leases were cancelled).
As at
In thousands of New Zealand dollars
31 March 2026 31 March 2025
(A) RIGHT-OF-USE ASSETS
Land and buildings under lease158,933137,359
Accumulated depreciation(33,363)(27,830)
Total carrying amount of right-of-use assets125,570109,529
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
Additions116,542—
Depreciation(5,604)(4,920)
Remeasurements5,1034,543
Closing carrying amount125,570109,529
1. Additions during the year relate to right-of-use assets recognised on commencement of a lease for a newly leased site as disclosed in Note 5.6.
(B) LEASE LIABILITIES
Current land and buildings 3,3732,868
Non-current land and buildings 138,139119,829
Total141,512122,697
For the year ended
In thousands of New Zealand dollars
31 March 2026 31 March 2025
(C) LEASE EXPENSES AND CASH FLOWS
Interest expense on lease liabilities6,898 5,934
Depreciation expense on right-of-use assets5,604 4,920
Cash outflow in relation to leases9,7268,865
(D) MATURITY ANALYSIS — CONTRACTUAL UNDISCOUNTED CASH FLOWS
Not later than 1 year10,3608,992
Later than 1 year and not later than 5 years41,35835,832
Later than 5 years210,929178,413
Total262,647223,237

18
RADIUS CARE FINANCIAL STATEMENTS 2026
4. SHAREHOLDER EQUITY AND FUNDING
4.1. Shareholder Equity and Reserves



20262025
Shares$000Shares$000
SHARE CAPITAL
Authorised, issued and fully paid up capital283,467,00956,353284,737,25356,794
Total contributed equity283,467,00956,353284,737,25356,794
MOVEMENTS
Opening balance of ordinary shares issued284,737,25356,794284,876,74256,820
Shares issued to employees 83,832 34 57,864 12
Share buyback scheme(1,354,076) (475) (197,353) (38)
Closing balance of ordinary shares issued283,467,00956,353284,737,25356,794
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 (2025:None).
During the year ended 31 March 2026, 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% of 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 21 May 2025
a final dividend of 0.80 cents per share (fully imputed) was declared and was paid on 19 June 2025. On 19 November 2025 a cash
interim dividend of 1.00 cents per share (fully imputed) was declared in relation to the year ended 31 March 2026 and was paid on 18
December 2025.
On 13 May 2026 a final cash dividend of 1.20 cents per share (fully imputed) was declared and will be paid on 11 June 2026.

20262025
Cents per
share
Total $000
Cents per
share
Total $000
RECOGNISED AMOUNTS:
Prior year final dividend0.802,2780.701,994
Interim dividend
1.002,8370.651,852
1.80 5,115 1.35 3,846
Final dividend declared1.203,4020.80 2,278
Other Reserves
Asset Revaluation Reserve
The asset revaluation reserve is used to record the revaluation of freehold land and buildings.
Share Based Payments Reserve
The share-based payments reserve represents the cumulative expense recognised for share-based payments under the Group’s Long
Term Incentive Plan (LTIP). In accordance with NZ IFRS 2, the fair value of Performance Share Rights is recognised as an employee
benefit expense over the vesting period, with a corresponding credit to the reserve. Upon vesting, amounts are transferred to share
capital. Further details of the Group’s LTIP are set out in Note 5.7.
Cash Flow Hedge Reserve
The cash flow hedge reserve is used to record the effective portion of gains or losses on hedging instruments that are designated
and qualify as cash flow hedges. Amounts are reclassified to profit or loss when the hedged forecast transactions affect profit or loss.

19
RADIUS CARE FINANCIAL STATEMENTS 2026
Put Option Reserve
The Group holds a put option over the remaining 49% non-controlling interest in Cibus Catering Limited, exercisable on the
fifth anniversary of the acquisition date. The option is valued based on a contractually agreed EV/EBITDA multiple, consistent
with NZ IFRS 13.
In accordance with NZ IAS 32, a financial liability is recognised for the present value of the expected redemption amount, with a
corresponding debit to equity recorded in the put option reserve, reflecting the effective acquisition of the non-controlling interest.
Subsequent remeasurement of the liability is recognised directly in equity within the put option reserve, in line with the Group’s
accounting policy, with no impact on profit or loss.
As at 31 March 2026, there have been no changes to key valuation inputs or assumptions, and no remeasurement has
been recognised.
As at
In thousands of New Zealand dollars
NOTE
31 March 2026 31 March 2025
Asset revaluation reserve3.215,1479,496
Share based payments reserve5.7353130
Cash flow hedge reserve4.4(203)(282)
Put option reserve(1,127)(1,127)
Total14,1708,217
4.2. 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. As at 31 March 2026, there were no shares with a dilutive effect (31 March 2025: None) and
therefore basic and diluted earnings per share were the same.
For the year ended
In thousands of New Zealand dollars
31 March 202631 March 2025
Profit after tax9,4577,0 3 4
Weighted average number of ordinary shares outstanding ('000s)283,862284,874
Cents per share3.33 2.47

20
RADIUS CARE FINANCIAL STATEMENTS 2026
4.3. Borrowings
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.


As at
In thousands of New Zealand dollars
31 March 202631 March 2025
SECURED LIABILITIES
Current
Other loans
1
64 132
Non-current
Bank loans71,50070,169
Total71,56470,301
1. Other loans represent equipment and vehicle finance loans held by Cibus Catering Limited with Westpac New Zealand Limited $20k (31 March 2025: $64k) and UDC Finance
$44k (31 March 2025: $68k). These are secured by way of equipment and vehicles themselves, and the Westpac loans also include a general security agreement over the assets
and all present and after-acquired property of Cibus Catering Limited.



Terms and Conditions and Assets Pledged as Security
Current
$000
Non-
current
$000
Facility
Limit
$000
Effective
Interest
Rate
%
Expiry Date
31 MARCH 2026
ASB Facility - A — 7,500 20,000 5.03%15 June 2028
ASB Facility - B — 48,000 48,000 5.58%15 June 2028
ASB Facility - C — 16,000 16,000 4.63%15 June 2028
ASB Facility - D — — 4,000 —15 June 2027
Other loans 64 — —
64 71,500 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 loans 132 ——
132 70,169 78,475
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 31 March 2026 the balance of the bank loans over which the properties are held as security is $71.5 million (31 March 2025:
$70.2 million), the total commitment as at 31 March 2026 is $88.0 million (31 March 2025: $78.6 million).
Other
As at 31 March 2026, the Group has a Corporate Banking Overdraft Facility Agreement with ASB Bank Limited for $2 million
(31 March 2025: $2 million). This facility bears interest at an effective interest rate of 6.46% (31 March 2025: 7.60%) and is
secured over the assets of the Group and guaranteed by certain Group entities. At 31 March 2026 no balance was drawn
down (31 March 2025: None).

21
RADIUS CARE FINANCIAL STATEMENTS 2026
Covenants
As at 31 March 2026, the Group classified its secured borrowings of $71.5 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 31 March 2026. 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.
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;
• Establishing a new Facility D to fund approved development projects.
On 2 March 2026, $5.5 million was drawn down from Facility C to allow for the acquisition of land in Belfast, Christchurch.
4.4. Interest Rate Swaps
The Group uses interest rate swaps to manage its risk associated with interest rate fluctuations. Interest rate swaps are initially
recognised at fair value on the date a contract is entered into and are subsequently measured at fair value on each reporting date.
The fair values of the interest rate swaps are determined based on cash flows discounted to present value using current market
interest rates. The non-current portion of interest rate swaps comprised of $0.2 million in liabilities (2025: $0.3 million). The Group
has 49% (2025: 42%) of interest-bearing borrowings covered by fixed interest rate swap agreements.
Cash Flow Hedges
The Group has entered into interest rate swaps to manage its interest rate risk in relation to its floating rate debt. These interest
rate swaps qualify for cash flow hedge accounting. When interest rate swaps meet the criteria for cash flow hedge accounting, the
effective portion of the gain or loss on the hedging instrument is recognised in other comprehensive income, while the ineffective
portion is recognised in the income statement. Amounts taken to reserves are transferred out of reserves and included in the
measurement of the hedged transaction when the forecast transaction occurs. When interest rate swaps do not meet the criteria
for cash flow hedge accounting, all movements in fair value of the hedging instrument are recognised in the income statement.
Under the interest rate swap agreements that qualify for cash flow hedge accounting, the Group has a right to receive interest
at variable rates and to pay interest at fixed rates (“payer interest rate swap agreements”). These agreements effectively change
the Group’s interest exposure on the principal covered by the interest rate swaps from a floating rate to fixed rates, which range
between 3.54% and 4.31% (2025: 3.71% and 4.31%). At 31 March 2026, the Group had interest rate swap agreements in place with a
total notional principal amount of $35 million (2025: $30 million). Of the swaps in place, at 31 March 2026, all were active.
The fair value of these agreements at 31 March 2026 is a $0.2 million liability. The agreements cover notional amounts for terms of
up to three years. The notional principal amounts and the period of expiry of the cash flow hedge interest rate swap contracts are
as follows:
As at
In thousands of New Zealand dollars
31 March 202631 March 2025
Less than 1 year 15,000 —
Between 1 and 2 years15,000 10,000
Between 2 and 3 years— 20,000
Between 3 and 4 years 5,000 —
Total 35,000 30,000

22
RADIUS CARE FINANCIAL STATEMENTS 2026
5. OTHER DISCLOSURES
5.1. 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 valuer’s valuations to estimate the apportionment of cash flows arising
from the depreciable (i.e. buildings) and non-depreciable components (i.e. land).
Deferred Tax on Buildings
The impact of the removal of tax depreciation on commercial buildings, which reduced the tax base to nil, created a significant
taxable temporary difference for all of the Group’s care home buildings classified as Property, Plant and Equipment, irrespective of
their date of acquisition. The recognition of this temporary difference as a deferred tax liability depends on whether the buildings
were acquired through business combination or whether the initial recognition exception (IRE) in NZ IAS 12 was previously applied.

For the year ended
In thousands of New Zealand dollars
31 March 2026 31 March 2025
(A) COMPONENTS OF TAX EXPENSE
Current tax3,541 1,618
Deferred tax745 1,457
Total tax expense4,286 3,075
(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%4,015 2,933
Permanent differences(207)(269)
Over provision for income tax in prior year(78)(396)
Deferred tax impact from reversal of depreciation on buildings446 824
Other110(17)
Income tax expense attributable to profit4,286 3,075

23
RADIUS CARE FINANCIAL STATEMENTS 2026
As at
In thousands of New Zealand dollars
31 March 2026 31 March 2025
(C) DEFERRED TAX
Deferred tax assets
Lease liabilities39,624 34,355
Provisions2,858 3,231
Deferred management fee income— 74
Total deferred tax asset42,481 37,660
Deferred tax liabilities
Property, plant and equipment4,170 2,779
Customer relationships177 228
Deferred management fee income387—
Right-of-use assets35,159 30,668
Deferred tax impact from reversal of depreciation on buildings11,964 12,124
Total deferred tax liability51,858 45,799
Net deferred tax liabilities(9,377)(8,139)
For the year ended
In thousands of New Zealand dollars
31 March 202631 March 2025
(D) DEFERRED INCOME TAX EXPENSE COMPRISES:
Through profit included in income tax expense
Decrease/(Increase) in deferred tax assets(4,821) 669
Increase in deferred tax liabilities5,566 535
Increase in deferred tax liabilities as a result of acquisition
— 253
745 1,457
Through other comprehensive income
Increase in deferred tax liabilities
493—
493—
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.

For the year ended
In thousands of New Zealand dollars
31 March 202631 March 2025
(E) IMPUTATION CREDITS AVAILABLE FOR USE IN SUBSEQUENT PERIODS
Balance at the beginning of the year8,1337,0 2 8
Dividends paid(1,988)(1,496)
Credits received from subsidiaries248—
New Zealand tax payments, net of refunds4,420 2,601
Credits foregone following changes in shareholder continuity
1
(7,247)—
Balance at the end of the year3,566 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.

24
RADIUS CARE FINANCIAL STATEMENTS 2026
5.2. Intangible Assets
Goodwill


As at
In thousands of New Zealand dollars
31 March 202631 March 2025
Goodwill at cost17,25517,255
Customer relationships633813
Total17,88818,068
Goodwill by cash generating unit (CGU)
Care16,06316,063
Catering business1,1921,192
Total17,25517,255
Key Accounting Estimates and Judgements
Goodwill is allocated to twenty one (2025: Twenty one) individual CGUs within the Group which are various individual residential care,
village and a catering businesses acquired by the Group.
Corporate office cash flows incurred by the Group is allocated to each CGU based on bed numbers.
Care CGUs Recoverable Amount
The recoverable amount of CGUs as at reporting date has been determined based on its fair value less costs of disposal, determined
using discounted cash flows that includes Management’s estimates based on past performance and its expectation for the future
performance for up to five years. These estimates are based on budgeted projections of occupancy levels, sales growth and changes
to cost structures. Cash flows from performance thereafter are estimated using a standard growth rate deemed to be reasonable
by Management.
The key assumptions used for discounted cash flows calculations are as follows:
• Cash flows for year one are based on the budget approved by the Board of Directors, with years two to five based on management
forecasts.
• The cash flow period used in the calculations was five years (2025: Five years).
• The post-tax discount rate applied in the calculations was between 9.9% and 11.5% (2025: Post-tax between 10.5% and 12.0%). The
pre-tax discount rate applied in the calculations was between 12.9% and 15.2% (2025: Pre-tax between 13.6% and 15.7%).
• The terminal growth rate applied in the calculations was 2.0% (2025: 2.0%).
• Occupancy projections vary between CGU based on actual and expected occupancy rates.
Management believes that no reasonably possible changes in any of the above key assumptions would cause the carrying value of the
goodwill to be materially lower than its recoverable amount.
The recoverable amount of the individual care sites as at 31 March 2026 has been determined based on fair value less costs of
disposal, determined using discounted cash flows. As the recoverable amount of individual care sites was determined using inputs
that are significant and unobservable, the Group has categorised these inputs as Level 3 under the fair value hierarchy in accordance
with NZ IFRS 13 Fair Value Measurement. The significant unobservable inputs used in the fair value measurement of the recoverable
amount of the Group’s individual care sites were as described above, year one to five forecast cash flows, a pre-tax discount rate, a
terminal growth rate and occupancy projections based on actual and expected occupancy rates.
• A significant increase/(decrease) in the forecast cash flows, terminal growth rate, and occupancy projections and rates,
assumptions would result in a significantly higher/(lower) fair value measurement.
• A significant increase/(decrease) in the pre-tax discount rate would result in a significantly (lower)/higher fair value measurement.

25
RADIUS CARE FINANCIAL STATEMENTS 2026
Catering business CGU Recoverable Amount
The recoverable amount of the Cibus Catering Limited (Cibus) business CGU has been determined as at reporting date using the
Value in Use (VIU) method. The VIU calculation is based on a five-year discounted cash flow model, prepared using Board-approved
forecasts, with a terminal growth rate applied thereafter. The model includes only third-party revenue and actual gross profit margins
achieved in FY26.
The key assumptions used for the discounted cash flows are as follows:
• Cash flows for year one are based on the budget approved by the Board of Directors, with years two to five based on
management forecasts.
• The cash flow period used in the calculations was five years (2025: Five years).
• The post-tax discount rate applied in the calculations was between 9.9% and 11.5% (2025: Post-tax between 10.5% and 12.0%). The
pre-tax discount rate applied in the calculations was between 12.9% and 15.2% (2025: Pre-tax between 13.6% and 15.7%).
• The terminal growth rate applied in the calculations was 2.0% (2025: 2.0%).
• Management fee allocations reflect actual Cibus structure.
Management believes that no reasonably possible changes in any of the above key assumptions would cause the carrying value of
the goodwill to be materially lower than its recoverable amount.
Customer Relationships
As at
In thousands of New Zealand dollars
31 March 2026 31 March 2025
CUSTOMER RELATIONSHIPS
Opening balance813—
Additions—903
Amortisation(180)(90)
Closing net book value633813
The Group recognises an intangible asset of $0.6 million (2025: $0.8 million) attributable to customer relationships. The asset
reflects the present value of expected future gross profit from contracts with external customers over the 12-month period ending
31 March 2026 and is amortised over a five year’s. Significant judgement was applied in determining the appropriate valuation
approach. Management considered and ultimately did not apply a long-term forecast model, as Cibus’ customer contracts are
generally short-term and cancellable with three months’ notice. The business operates in the aged care catering sector, which is
characterised by competitive tender processes, high customer turnover, and limited long-term contractual lock-in. As a result, a
valuation based on the expected gross profit from existing external customer contracts over a one-year period was deemed more
appropriate than longer-term models reliant on renewal rates or customer retention forecasts. Internal customers within the Group
were excluded from the valuation. Management used contract-level data and gross profit history to calculate the present value of
the forecast earnings and considered this to be the best available estimate of the asset’s fair value at the date of acquisition. No
indicators of impairment were identified at 31 March 2026 (2025: No indicators of impairment).
5.3. Trade and Other Receivables
Trade receivables are amounts due from residents and Government agencies in the ordinary course of business and are recognised
initially at fair value being the transaction price plus any transaction costs. Subsequent to initial recognition, receivables from
contracts with customers are measured at amortised cost using the effective interest method less impairment.

As at
In thousands of New Zealand dollars
31 March 2026 31 March 2025
CURRENT
Trade receivables11,62411,515
Allowance for credit losses
(806)(672)
10,81810,843
NZX listing bond 75 75
Prepayments1,7991,904
Accrued Income
296663
2,1702,642
Total12,98813,485

26
RADIUS CARE FINANCIAL STATEMENTS 2026
Recognition, Measurement and Judgements in Applying Accounting Policies
When measuring expected credit losses (‘ECL’) the Group uses reasonable and supportable forward looking information, which is
based on assumptions for future movement of different economic drivers and how these drivers will affect each other.
The expected credit losses on trade receivables are estimated using a provision matrix by reference to past default experience of
the debtors and an analysis of the debtors’ current financial positions, adjusted for factors that are specific to the debtors, general
economic conditions of the industry in which the debtors operate and an assessment of both the current as well as the forecast
direction of conditions at the reporting date.
The Group has the following financial assets subject to the application of the expected credit loss model:
• Trade receivables from care operations for the provision of care fees revenue for rest home and hospital fees. These are split
between private amounts owed by residents and amounts due from agencies such as the Ministry of Health and Accident
Compensation Corporation.
• Trade receivables from village operations for the provision of weekly service fees and occupation licence payment receivables.
These are receivable from residents.
The following table provides information about the risk profile of trade receivables from contracts with residents and Government
agencies using a provision matrix. The information in the below table does not distinguish between resident or product types as the
Group’s historical credit loss experience does not show different patterns for different resident or product types.
Expected Credit Losses
Days Past Due
Not Past Due31-6061-9091 & OverTotal
AS AT 31 MARCH 2026
Estimated total gross carrying amount ($000)9,1763191861,94311,624
Expected credit loss rate (%)0.2%0.3%2.2%40.3%6.9%
Expected credit loss rate ($000)18 1 4 783 806
AS AT 31 MARCH 2025
Estimated total gross carrying amount ($000)7,6168273222,75011,515
Expected credit loss rate (%)0.2%0.4%1.9%23.5%5.8%
Expected credit loss rate ($000) 15 3 6 648 672
5.4. Trade and Other Payables and Provisions
The Group’s obligation in respect of employees’ defined contribution entitlements is limited to the contributions payable at the end The Group’s obligation in respect of employees’ defined contribution entitlements is limited to the contributions payable at the end
of the reporting period.of the reporting period.
As at
In thousands of New Zealand dollars
31 March 2026 31 March 2025
CURRENT
Unsecured trade and other payables
Trade creditors3,5485,273
GST payable1,5241,414
Other payables155321
Accrued expenses4,4872,228
Provisions
Annual leave8,4117,490
Other employee entitlements7,7 796,134
Total25,90422,860

27
RADIUS CARE FINANCIAL STATEMENTS 2026
5.5. Related Party Transactions
Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variable returns
from its involvement with the entity and has the ability to affect those returns through its power over the entity.
The financial statements of subsidiaries are prepared for the same reporting period as the parent entity, using
consistent accounting policies.
All intercompany transactions and balances are eliminated. The subsidiaries are consolidated from the date the Group gains control
until the date on which control ceases.
Name of EntityPrincipal Activities
Ownership
Interests and
Voting Rights
Class of
Shares20262025
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 Village100%100%Ordinary
Luma Brands Limited
Established 3 March 2026
Operating entity for the import and distribution of
medical supplies
100%N /AOrdinary
Radius (Belfast) Limited
Established 5 June 2025
Property owning company for land purchased in
Belfast, Christchurch
100%N /AOrdinary
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 Health Limited
Established 4 July 2025
Dormant 100%N /AOrdinary
Radius Matamata Retirement
Village Limited
Operating entity for Matamata Retirement Village100%100%Ordinary
Radius SPV Limited
Property owning entity for
Matamata Country Lodge and Matamata
Retirement Village
100%100%Ordinary
R Connect Limited
Staff placement company providing short term
staffing solutions
100%100%Ordinary
Windsor Lifestyle
Estate Limited
Operating entity for Windsor Retirement Village100%100%Ordinary

28
RADIUS CARE FINANCIAL STATEMENTS 2026
Key Management Personnel Compensation and Other Related Parties
Key management personnel are all executives and Directors 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
Kade Kings LimitedDirector (Brien Cree)
Barefoot Crue LimitedCommon Director (Duncan Cook)
InforMe LimitedCommon Director (Duncan Cook), Common Shareholder (Valhalla Capital Limited)
Neil FosterShareholder
Takatimu Investments LimitedShareholder
Tasman Advisory LimitedCommon Director (Bret Jackson)
Time Capital NZ Limited Common Shareholder (Tom Wilson)
Valhalla Capital LimitedCommon Director (Brien Cree)
Warehouse Storage LimitedCommon Shareholder (Neil Foster)
Wave Rider TrustCommon Beneficiary (Brien Cree)

29
RADIUS CARE FINANCIAL STATEMENTS 2026
Key Management Personnel Compensation
For the year ended
In thousands of New Zealand dollars
31 March 2026 31 March 2025
Directors' remuneration and expenses581981
Dividends to Director related entities1,8451,384
Key management personnel salaries and other short term employee benefits3,8443,554
Key management personnel dividends62
Total Director and key management payments 6,2765,921
OTHER RELATED PARTIES
Catering services
Cibus Catering Limited (up to 30 September 2024)
1
—4,442
Software fees
InforMe Limited30—
Consulting fees
Barefoot Crue Limited
2
391250
Tasman Advisory Limited
3
29—
Rent paid
Warehouse Storage Limited 1,9791,123
Rent received and utility recharges
Cibus Catering Limited (up to 30 September 2024)
1
—35
Personal guarantee fee
Wave Rider Trust170170
Disposal of land and buildings
Warehouse Storage Limited13,600—
Business acquisition
Valhalla Capital Ltd—465
1. A 51% shareholding in Cibus Catering Limited was purchased in October 2024 and now forms part of the consolidated financial statements.
2. Predominantly relates to services provided in respect of General Counsel and the St Allisa acquisition (2025: predominantly relates to General Counsel services).
3. Related to additional services provided.

30
RADIUS CARE FINANCIAL STATEMENTS 2026
5.6. Business Combinations
Summary of Acquisition
On 30 May 2025, the Group acquired 100% of the assets and liabilities of St Allisa, a dementia, rest home and hospital care home.
Concurrent with the acquisition, the Group entered into a sale and leaseback transaction for the land and buildings associated with
the care home. The land and buildings was sold to Warehouse Storage Limited for $13.6 million and immediately leased back to the
Group. The lease has an initial term of 30 years, with two 10-year renewal options.
Details of the purchase consideration, the net assets acquired are as follows:
As at
In thousands of New Zealand dollars
2026
Fair Values
Purchase consideration
Cash paid14,623
Total14,623
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 receivables9
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 $7.8 million and a loss before tax of ($0.2 million) to the group for the period from
30 May 2025 to 31 March 2026.
If the acquisition had occurred on 1 April 2025, pro-forma revenue and loss before tax for the year ended 31 March 2026 would
have been $9.3m and $0.3 million 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.
5.7. 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.

31
RADIUS CARE 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.
On 23 October 2025, a further 909,092 share rights were granted on the same terms and conditions as other participants. On 30
March 2026, 909,092 share rights lapsed and no share rights were exercised or expired during the period.
The fair value of Performance Share Rights granted during the year was determined at grant date using a Monte Carlo valuation
model. The fair value per right ranged from approximately $0.10 to $0.19 (depending on tranche).
On 18 July 2025, the preceding share scheme, issued on 18 July 2022, lapsed with no shares vesting under the scheme.
5.8. Non-Controlling Interests
The following table summarises the information relating to each of the Group’s subsidiaries that has material non-controlling
interests, before any intra-group eliminations.
Cibus Catering Limited
For the year ended
In thousands of New Zealand dollars
31 March 2026 31 March 2025
ASSETS
Cash and cash equivalents1,543 1,679
Trade and other receivables489 445
Inventories105 119
Property, plant and equipment467 455
Deferred tax asset99 113
Total assets2,703 2,811
LIABILITIES
Trade and other payables(2,061)(1,875)
Current tax liabilities(116)(312)
Borrowings(64)(132)
Total liabilities(2,241)(2,319)
Net assets 462 492
Net assets attributable to NCI227 241
For the year ended
In thousands of New Zealand dollars
31 March 2026 31 March 2025
Revenue from contracts with customers16,714 8,038
Profit1,217 744
Other comprehensive income (OCI)——
Total comprehensive income1,217 744
Profit allocated to NCI596 365
OCI allocated to NCI——
Cash flows from operating activities 1,346 765
Cash flows from investment activities (164)(39)
Cash flows from financing activities(1,318)(45)
Net (decrease)/ increase in cash and cash equivalents held(136) 681
Net (decrease)/ increase in cash and cash equivalents held allocated to NCI(67) 333

32
RADIUS CARE FINANCIAL STATEMENTS 2026
5.9. Financial Risk Management
The Group is exposed to the following financial risks in the normal course of business:
a. Credit risk
b. Liquidity risk
c. Interest rate risk
The Board of Directors reviews and agrees on policies for managing each of these risks as summarised below:
As at
In thousands of New Zealand dollars
NOTE
31 March 2026 31 March 2025
AMORTISED COST FINANCIAL ASSETS
Cash and cash equivalents2,8232,571
Trade and other receivables5.310,81810,843
Total assets13,64113,414
AMORTISED COST FINANCIAL LIABILITIES
Trade and other payables5.49,7149,236
Lease liabilities3.4141,512122,697
Interest rate swaps4.4203282
Borrowings4.371,56470,301
Refundable Occupation Right Agreements3.338,90637,843
Total liabilities261,899240,359
(a) Credit Risk
Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge
an obligation.
The Group’s exposure to credit risk, or the risk of counterparties defaulting arises mainly from cash at bank, trade and
other receivables.
The maximum exposure to credit risk, excluding the value of any collateral or other security, at reporting date, of recognised
financial assets is the carrying amount of those assets, net of any provisions for impairment of those assets, as disclosed in the
consolidated statement of financial position and notes to consolidated financial statements.
The Group has no significant concentrations of credit risk. The Group’s trade receivables represent distinct trading relationships
with each of its residents and various Government agencies. The only large trade receivables relate to residential care subsidies
which are receivable in aggregate from Health New Zealand, Work and Income New Zealand and the Accident Compensation
Commission. These entities are not considered a credit risk.
The Group does not have any material credit risk exposure to any single counterparty or group of counterparties under financial
instruments entered into by the Group.
Cash Deposits and Other Receivables
Credit risk for cash deposits is managed by holding all cash deposits with high credit rating financial institutions, i.e. major
registered New Zealand banks.
Trade Receivables
Credit risk with respect to trade receivables is limited due to the large number of customers which qualify for Ministry of Health
funding in relation to payment of our services. Amounts owed by the residents are generally unsecured. Credit risk is managed
through the use of admission agreements for all residents, which gives contractual rights to the Group in relation to security and
collection of debts in circumstances where there is no entitlement to Ministry of Health funding. All admissions are reviewed to
ensure a duly completed admission agreement is available. The loss allowance for expected credit losses of trade receivables is
provided in Note 5.3. As the Group undertakes transactions with a large number of customers and regularly monitors payment in
accordance with credit terms, the financial assets that are neither past due nor impaired, are expected to be received in accordance
with the credit risk.

33
RADIUS CARE FINANCIAL STATEMENTS 2026
(b) Liquidity Risk
Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities.
The Group has liquidity risk with respect to its repayment obligations of financial liabilities.
The Group maintains a rolling 90 day forecast of daily cash flows to ensure it will have sufficient liquidity to meet its liabilities as
they fall due. This is linked to a monthly rolling forecast which provides directional liquidity expectations for a minimum of a further
twelve months.
The Group has a bank facility which is subject to certain covenant clauses, whereby it is required to meet certain key performance
indicators. This bank facility is provided by the ASB Bank. Refer to Note 4.3 for further information on the Group’s banking facility
and covenant compliance.
The following table outlines the Group’s remaining contractual maturities for non-derivative financial instruments. The amounts
presented in the table are the undiscounted contractual cash flows of the financial liabilities allocated to time bands based on the
earliest date on which the Group can be required to pay.



In thousands of New Zealand dollars
Less than 1
Year
Between 1
and 2 Years
Between 2
and 5 YearsOver 5 Years
AS AT 31 MARCH 2026
Trade and other payables9,714 — — —
Lease liabilities10,36010,43630,922210,929
Borrowings 64 — 71,500 —
Refundable Occupation Right Agreements
1
38,906 — — —
59,04410,436102,422210,929
AS AT 31 MARCH 2025
Trade and other payables9,236 — — —
Lease liabilities8,9929,00826,824178,413
Borrowings — — 70,169 —
Refundable Occupation Right Agreements
1
37,843 ———
56,0719,00896,993178,413


1. The refundable ORAs are repayable to the resident on vacation of the unit or on the termination of the occupation right agreement and subsequent resale of the unit. The
expected maturity of the refundable ORAs is shown in note 3.3.

34
RADIUS CARE FINANCIAL STATEMENTS 2026
c. Interest Rate Risk
The Group is exposed to interest rate risk in relation to its interest earning cash deposits and its interest bank borrowings. Interest
rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate as a result of changes in market
interest rates. The Group manages interest rate risk by maintaining a mix of variable rate and fixed rate borrowings, including
interest rate swaps described in Note 4.4.
Interest rates on cash at bank are subject to market risk in the event of changes its interest rates. Interest rates on non-current bank
borrowings are generally subject to review annually or at shorter intervals, and interest rates on current borrowings can be reviewed
at the lender’s discretion.
The following table outlines that Group’s exposure to interest rate risk in relation to future cash flows and the effective weighted
average interest rates on classes of financial assets and financial liabilities:


In thousands of New Zealand dollars
Interest Bearing
Non-interest
Bearing
Total Carrying
Amount
Weighted
Average
Effective
Interest Rate
As at 31 March 2026
FINANCIAL INSTRUMENTS
Financial assets
Cash2,823—2,8230.0% Fixed
Financial liabilities
Bank and other loans(71,564)—(71,564)5.31%
Interest rate swaps(203)—(203)
Lease liabilities(141,517)—(141,517)5.1% Fixed
Total(213,284)—(213,284)
As at 31 March 2025
FINANCIAL INSTRUMENTS
Financial assets
Cash2,571—2,5710.0% Fixed
Financial liabilities
Bank and other loans(70,301)—(70,301)7.42%
Interest rate swaps(282)—(282)
Lease liabilities(122,697)—(122,697)5.0% Fixed
Total(193,280)—(193,280)
The interest rate on the Group’s bank loans is fixed for a relevant ‘Interest period’ (being either 30, 60, 90 or 180 days) and
comprised of the Base Rate (equal to the BKBM on the first day of the relevant Interest Period), plus a Margin and Line fee in
accordance with the Group’s agreement with the bank. The weighted average interest period term as at 31 March 2026 was 84 days
(2025: 30 days).
No other financial assets or financial liabilities are expected to be exposed to interest rate risk.
Sensitivity
If interest rates were to increase/decrease by 100 basis points from the rates prevailing at the reporting date, assuming all other
variables remain constant, then the impact of profit for the year and equity would be as follows:

For the year ended
In thousands of New Zealand dollars
31 March 2026 31 March 2025
+ / - 100 basis points
Impact on profit after tax(515)(506)
Impact on equity(144)(142)

35
RADIUS CARE FINANCIAL STATEMENTS 2026
5.10. Contingent Liabilities
Lester Heights Business
26 June 2013, the Group entered into an agreement to sell the
Lester Heights business. The sale was settled on 31 August 2013.
One of the conditions of sale is that in the event that the new
business owner defaults on the rental payments, the Group is
required to guarantee the rent. No amounts have been paid to date,
but in the event that a default occurs, the potential cost to the
Group is an annual rent of $286,210 (2025: $286,210) per annum
until 2029. The Group will likely assume operations at this care
home, in the event of a default. At reporting date the Group has
assessed the likelihood of the new business owner defaulting on the
rental payment as not probable (2025: Not probable).
Other
There were no other material contingent liabilities at reporting date
(31 March 2025: None).
5.11. Commitments
At 31 March 2026, the Group had capital commitments of $2.7
million (31 March 2025: None).
There are no significant unrecognised contractual obligations
entered into for future repairs and maintenance at balance date.
5.12. Events Subsequent to Reporting Date
Dividends
On 13 May 2026, the Board declared a final dividend of
1.20 cents per share (fully imputed), that is due to be paid
on 11 June 2026.
Acquisition of a Care Home
On 1 April 2026, the Group entered into an agreement to
acquire the business and assets of the Karori Village care
home in Wellington for $13.6 million. The agreement is
conditional only on usual regulatory approvals.
Settlement is expected to take place on Tuesday 26
May 2026.
Other
There has been no other matter or circumstance which
has arisen since 31 March 2026 that has significantly
affected or may significantly affect:
a. the operations, in financial years subsequent to 31
March 2026, of the Group; or
b. the results of those operations; or
c. the state of affairs, in financial years subsequent to 31
March 2026, of the Group.

36
RADIUS CARE FINANCIAL STATEMENTS 2026




36 RADIUS CARE FINANCIAL STATEMENTS 2026

Level 12, 23-29 Albert Street, Auckland 1010
PO Box 3899, Auckland 1140
New Zealand
T: +64 9 309 0463
F: +64 9 309 4544
E: auckland@bakertillysr.nz
W: www.bakertillysr.nz

INDEPENDENT AUDITOR’S REPORT
To the Shareholders of Radius Residential Care Limited
Report on the Audit of the Consolidated Financial Statements

Opinion
We have audited the consolidated financial statements of Radius Residential Care Limited and its subsidiaries ('the
Group') on pages 2 to 35, which comprise the consolidated statement of financial position as at 31 March 2026, and
the consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated
statement of cash flows for the year then ended, and notes to the consolidated financial statements, including
material accounting policy information.

In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the
consolidated financial position of the Group as at 31 March 2026, and its consolidated financial performance and its
consolidated cash flows for the year then ended in accordance with New Zealand Equivalents to International
Financial Reporting Standards ('NZ IFRS') and International Financial Reporting Standards ('IFRS').

Our report is made solely to the Shareholders of the Group. Our audit work has been undertaken so that we might
state to the Shareholders of the Group those matters we are required to state to them in an auditor’s report and for
no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other
than the Shareholders of the Group as a body, for our audit work or for our report.

Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (New Zealand) ('ISAs (NZ)'). Our
responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the
Consolidated Financial Statements section of our report. We are independent of the Group in accordance with
Professional and Ethical Standard 1 International Code of Ethics for Assurance Practitioners (including International
Independence Standards) (New Zealand) issued by the New Zealand Auditing and Assurance Standards Board and
the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants
(including International Independence Standards) (‘IESBA Code’), and we have fulfilled our other ethical responsibilities
in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.


Other than in our capacity as auditor and provider of other assurance services we have no relationship with, or
interests in, Radius Residential Care Limited or any of its subsidiaries. The provision of these other assurance services
has not impaired our independence.

Key Audit Matters
Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the
consolidated financial statements of the current year. These matters were addressed in the context of our audit of
the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a
separate opinion on these matters.

37
RADIUS CARE FINANCIAL STATEMENTS 2026

37 RADIUS CARE FINANCIAL STATEMENTS 2026

Key Audit Matter How our audit addressed the key audit matter
Valuation of investment properties and land and buildings
As disclosed in Note 3.1 and 3.2 of the Group’s
consolidated financial statements, as at 31 March 2026,
the Group has investment properties totalling $80.5m
(operated as retirement villages) and land and buildings
(operated by the Group for provision of care services)
totalling $108.6m measured at fair value.

Investment properties and land and buildings were
significant to our audit due to the size of the assets and
the subjectivity, complexity and uncertainty inherent in
estimating the fair value of the investment properties
and land and buildings.

Management has engaged an independent external
valuer (‘the Valuer’) to determine the fair value of the
Group’s investment properties and land and buildings
as at 31 March 2026. The Valuer performed their work
in accordance with the International Valuation
Standards and the Australia and New Zealand Valuation
and Property Standards, NZ IFRS 13 Fair Value
Measurement, NZ IAS 40 Investment Property and NZ
IAS 16 Property, Plant and Equipment. The Valuer
engaged by the Group has appropriate experience in the
sector in which the Group operates.

For each investment property, the Valuer considered
property-specific information such as the income
generated by departures and the re-sale of independent
living units. They then applied assumptions in relation
to, the timing of unit re-sale, the length of occupancy of
existing residents, the price paid by new residents, price
movements, type of Occupancy Right Agreement,
discount rate, growth rate and terminal yield. The Valuer
also considered the individual characteristics of each
village, its location, its nature, its resident profile and the
expected future cash flows for that particular village.

For each land and building property, the Valuer
considered property-specific information such as
capitalisation rates and earnings per care bed. The
Valuer also considered the individual characteristics of
each property, its location, and its nature.

The Group has adopted the assessed values
determined by the Valuer.


Our audit procedures, among others, included:
▪ Understanding and evaluating the Group’s internal controls
relevant to the accounting estimates used to determine the
fair value of the Group’s investment properties.
▪ Reading and evaluating the external valuation reports for the
Group’s investment properties and land and buildings as at 31
March 2026.
▪ Confirming that the valuation approaches for the investment
properties and land and buildings were in accordance with NZ
IFRS 13, either NZ IAS 40 or NZ IAS 16, and suitable for
determining the fair value of the Group’s investment
properties and land and buildings as at 31 March 2026.
▪ Evaluating the competence, capabilities, objectivity and
expertise of Management's independent external valuer (the
‘Valuer’) and the appropriateness of the Valuer’s work as audit
evidence relevant to the valuation assertion.
▪ Agreeing property-related data provided by Management to
the Valuer, to the Group’s records.
▪ Engaging our own external property valuation expert to assist
in understanding and evaluating the following, based on their
specialist knowledge from performing and reviewing
valuations of similar properties, known relevant transactional
evidence and available market data:
o the work and findings of the Valuer;
o the Valuer’s valuation methods and assumptions to
assist us in challenging the appropriateness of valuation
methods and assumptions used; and
o the acceptable range of values considered reasonable
to evaluate Management’s adopted valuation estimate.
This involved discussing and corresponding with
Management, the Valuer engaged by the Group and our own
external property valuation expert.
▪ Evaluating the selection of valuation methods, inputs and
assumptions with a view to identifying Management bias.
▪ Agreeing the adopted value of the Operator’s Interest to the
external valuation reports and checking adjustments made in
relation to Refundable Occupation Right Agreements and
Deferred Management fees recognised separately on the
consolidated statement of financial position.
▪ Evaluating the disclosures (including the accounting policies
and accounting estimates) related to the investment
properties and land and buildings which are included in the
Group’s consolidated financial statements.

Acquisition accounting for St Allisa and subsequent sale
and leaseback of the land and buildings
As disclosed in Note 5.6 of the Group’s consolidated
financial statements, the Group acquired the assets and
liabilities of St Allisa for $14.6m on 30 May 2025. The
acquisition included a sale and leaseback of the land
and buildings with Warehouse Storage Limited (related
party). The property was sold for $13.6m and leased
back to the Group for an initial term of 30 years with
two 10-year rights of renewal.


Our audit procedures among others included:
▪ Understanding and evaluating the Group’s internal controls
relevant to the accounting estimates used to determine the
fair value of the assets acquired and liabilities assumed.

▪ Reading the sale and purchase agreement and other
agreements relating to the acquisition to understand key

38
RADIUS CARE FINANCIAL STATEMENTS 2026

38 RADIUS CARE FINANCIAL STATEMENTS 2026

Key Audit Matter How our audit addressed the key audit matter
The acquisition of St Allisa is significant to our audit due
to the size of the acquisition (total consideration of
$14.7m) and the subjectivity and complexity inherent in
accounting for business combinations under NZ IFRS 3
Business Combinations.
Management has completed a purchase price
allocation process to identify the acquirer, determine
the acquisition date, recognise and measure the
identifiable assets acquired, the liabilities assumed and
any resulting goodwill.
Accounting for the sale and leaseback transaction is
outside of the normal course of business and involves
complex accounting and significant management
judgement. The sale and leaseback transaction is
accounted for in accordance with NZ IFRS 16 Leases
and NZ IFRS 15 Revenue from Contracts with
Customers. NZ IFRS 16 requires the Group to measure
the resulting right of use asset at the proportion of the
previous carrying amount of the land and buildings
retained. There are specific requirements when the fair
value of the consideration for the sale of an asset does
not equal the fair value of the asset.
This transaction is significant to our audit due to the
amount of consideration and size of the assets and
liabilities involved as well as the subjectivity, complexity
and uncertainty inherent in accounting for the
acquisition and subsequent sale and leaseback.
terms and conditions and confirming our understanding of the
transaction with Management.
▪ Evaluating the measurement of the consideration transferred.

▪ Evaluating the identified assets and liabilities against the
terms of the sale and purchase agreements.
▪ For the measurement of the identified assets and liabilities,
evaluating the fair values of the identified assets and liabilities
at acquisition date.
▪ Evaluating the inputs and any underlying assumptions with a
view to identifying Management bias.
▪ Reading the sale and purchase agreement and lease relating
to the sale and leaseback to understand key terms and
conditions and confirming our understanding of the
transaction with Management.
▪ Evaluating whether the proposed accounting for the
subsequent sale and leaseback of the land and buildings is in
accordance with NZ IFRS 16 and NZ IFRS 15 by:
o Evaluating whether a sale has occurred in accordance
with NZ IFRS 15;
o Recalculating the lease liability and right-of-use asset
based on the key inputs identified above and comparing
our recalculations to the balances recorded by the
Group;
o Evaluating the measurement of the right-of-use asset as
a portion of the previous carrying amount of the
underlying land and buildings as well as the recognition
of any gain or loss related to rights transferred to the
buyer/lessor.
▪ Evaluating the disclosures (including material accounting
policy information and accounting estimates) related to the
acquisition of the St Allisa businesses and subsequent sale
and leaseback of the land and buildings which are included in
the Group’s consolidated financial statements.


Other Information
The Directors are responsible for the other information. The other information comprises the information included in
the Group’s Annual Report for the year ended 31 March 2026 (but does not include the consolidated financial
statements and our auditor’s report thereon), which is expected to be made available to us after the date of this
auditor’s report.

Our opinion on the consolidated financial statements does not cover the other information and we do not express
any form of audit opinion or assurance conclusion thereon.

In connection with our audit of the consolidated financial statements, our responsibility is to read the other
information identified above when it becomes available and, in doing so, consider whether the other information is
materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit or otherwise
appears to be materially misstated.

When we read the Annual Report, if we conclude that there is a material misstatement therein, we are required to
communicate the matter to the Directors.

39
RADIUS CARE FINANCIAL STATEMENTS 2026

39 RADIUS CARE FINANCIAL STATEMENTS 2026

Responsibilities of the Directors for the Consolidated Financial Statements
The Directors are responsible on behalf of the Group for the preparation and fair presentation of the consolidated
financial statements in accordance with NZ IFRS and IFRS, and for such internal control as the Directors determine
is necessary to enable the preparation of the consolidated financial statements that are free from material
misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, the Directors are responsible on behalf of the Group for assessing
the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and
using the going concern basis of accounting unless the Directors either intend to liquidate the Group or to cease
operations, or have no realistic alternative but to do so.

Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAs (NZ) will always detect a material misstatement when it exists. Misstatements can arise from
fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these consolidated financial statements.


A further description of the auditor’s responsibilities for the audit of the consolidated financial statements is located
at the External Reporting Board’s website at:
https://www.xrb.govt.nz/standards/assurance-standards/auditors-responsibilities/audit-report-1-1/


The engagement partner on the audit resulting in this independent auditor’s report is J A Daubney.




BAKER TILLY STAPLES RODWAY AUCKLAND
Auckland, New Zealand
13 May 2026

---

RESULTS ANNOUNCEMENT



Results for announcement to the market
Name of issuer Radius Residential Care Limited
Reporting Period 12 months to 31 March 2026
Previous Reporting Period 12 months to 31 March 2025
Currency NZ$
Amount (000s) Percentage change
Revenue from continuing
operations
$202,279 14.0%
Total Revenue $205,515 13.7%
Net profit/(loss) from
continuing operations
$10,053 35.9%
Total net profit/(loss) $10,053 35.9%
Final Dividend
Amount per Quoted Equity
Security
$0.01200000
Imputed amount per Quoted
Equity Security
$0.00466667
Record Date 28 May 2026
Dividend Payment Date 11 June 2026
Current period Prior comparable period
Net tangible assets per
Quoted Equity Security (in
dollars and cents per
security)
$0.24 $0.20
A brief explanation of any of
the figures above necessary
to enable the figures to be
understood
• Within the net profit amount of $10,053k is $596k
which relates to non-controlling interests of a
partially owned subsidiary.
• Please refer to attached documents (consolidated
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

13 May 2026

Audited 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 X Quarterly
Half Year Special
DRP applies No
Record date 28 May 2026
Ex-Date (one business day before the
Record Date)
27 May 2026
Payment date (and allotment date for
DRP)
11 June 2026
Total monies associated with the
distribution
$3,401,604.11
Source of distribution (for example,
retained earnings)
Retained Earnings
Currency NZ$
Section 2: Distribution amounts per financial product
Gross distribution $0.01666667
Gross taxable amount $0.01666667
Total cash distribution $0.01200000
Excluded amount (applicable to listed
PIEs)
$ N/A
Supplementary distribution amount $0.00211765
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
$0.00466667
Resident Withholding Tax per
financial product
$0.00083333

Section 4: 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

13 May 2026