3Q21 Sales Metrics – Sales of Occupation Rights

NZX & ASX RELEASE 11 October 2021 3Q21 METRICS - SALES OF OCCUPATION RIGHTS Summerset Group is pleased to report 199 sales for the quarter ending 30 September 2021, comprising 117 new sales and 82 resales. Summerset CEO Scott Scoullar said it was a strong Q3 result for both new sales and resales, with 744 sales achieved in the nine months to 30 September 2021. The number of sales to date equate to 95% of full year sales in 2020. "Sales have continued at pace despite a nationwide lockdown in August and the ongoing lockdown in Auckland; in particular new sales which were 17% higher than Q3 2020", Mr Scoullar said. "We have good diversification of sales across the country with 83% of sales coming from outside the Auckland region." Mr Scoullar said Summerset had pre-sold all independent living units being delivered over the next six months at its new Mt Denby retirement village in Whangarei. Just one presale unit remained at Te Awa (Napier), Casebrook (Christchurch), and Bell Block (New Plymouth) villages. Last month, a new 10,500m2 main building at Avonhead (Christchurch) opened, offering serviced apartments, a care centre and a state-of-the-art memory care centre, as well as resident amenities such as a swimming pool, gym and cafe. The main building at Richmond (Nelson/Tasman) which opened in July, has already sold or contracted 30% of its needs based rooms. Uncontracted new stock remains low at 291, with villa stock of just 28 units. Uncontracted new stock as a percentage of the total portfolio was 2.6%, excluding the recently completed Avonhead and Richmond main buildings. Construction work has re-started across all 13 building sites nationwide, including Auckland. "We were pleased to have only two weeks offsite in our building sites outside of Auckland, and the construction teams have been back onsite in Auckland since 20 September," Mr Scoullar said. ENDS For investor relations enquiries: Will Wright Chief Financial Officer will.wright@summerset.co.nz 021 490 251 For media enquiries: Sharon Lundy Senior Communications & Media Advisor sharon.lundy@summerset.co.nz 021 782 826 End CA:00380673 For:SUM Type:MKTUPDTE Time:2021-10-11 08:30:53