2Q26 Metrics – Sales of Occupation Rights

NZX & ASX RELEASE 7 July 2026 2Q26 METRICS – SALES OF OCCUPATION RIGHTS Summerset Group reported 448 sales for the quarter ending 30 June 2026, comprising 221 new sales and 227 resales. Total new sales were in line with Q2 2025 while resales increased 26%. Summerset Chief Executive Scott Scoullar said the company was pleased with both the quarter’s sales and its performance over the first six months of the year. “Our total first half (1 Jan – 30 Jun) sales were up 17% on the same period last year, with new sales up 12% and resales up 23%." Summerset’s four new village centre buildings, opened during the first half of the year, are already showing encouraging early demand. At Cambridge, 45% of the available serviced apartment, care and memory care stock is occupied or under contract; 43% at Whangārei, 30% at Waikanae, and at Cranbourne North in Victoria, 21% of the village centre building assisted living apartments are occupied or under contract. “These buildings are central to the resident experience in our villages and provide the care, support and amenity our residents value. We’re pleased with the level of interest and sales momentum across these villages’ new buildings.” Mr Scoullar said sales momentum at Summerset St Johns in Auckland had also continued during the quarter. “St Johns remains one of our strongest-performing new sales villages, averaging 1.6 sales per week in Q2. The village is a significant investment for Summerset and we are pleased to see continued demand for this high-quality retirement living offering in Auckland. “With the delivery of a number of village centre buildings our product mix has shifted towards a greater weighting of care and apartment sales. “This is consistent with our development pipeline, and our guidance in February 2026, that our development margin this year would be in the long-term guidance range of 20-25% following the delivery of our four new village centres." Resales also continued to perform through the quarter, with 227 resales in Q2 and 415 for the first half, Summerset expects resale margins to remain in line with 2025 levels. Disciplined approach to economic outlook Following the start of the Iran conflict, Summerset took prudent decisions to reduce its New Zealand build rate reflecting the change in economic conditions. “Our New Zealand deliveries of new homes for FY26 will be between 600-650, a reduction in build rate of 50 homes. We remain on track to deliver the 100-150 homes forecast for Australia. This means our group deliveries will stay within the 700-800 homes forecast. “We have flexibility in our build programme to react to external factors or demand and increase or decrease our build programme as required. Of the homes we’re building in 2026, we’ve delivered 454 across the two countries so far this year. "We continue to make good progress across our Australian sites, including Cranbourne North now open and operating, Chirnside Park due to open later this year, and Oakleigh South is advancing well through construction.” Summerset will release its half year 2026 financial results on Thursday 27 August. ENDS For investor relations enquiries: Margaret Warrington Chief Financial Officer investor.relations@summerset.co.nz For media enquiries: Louise McDonald Senior Communications & Media Advisor louise.mcdonald@summerset.co.nz +64 21 246 3793