Arvida Group Limited — Capital/Financing Update 2017

Oct 10, 2017

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Arvida Group Limited (ARV) Market Release

10 OCTOBER 2017

COMPLETION OF RIGHTS OFFER

Arvida Group Limited (NZX:ARV) is pleased to announce the close of its underwritten 1 for 5 pro rata renounceable rights offer announced on 12 September 2017, with strong shareholder support.

Approximately 58 million new shares were taken up by shareholders, representing approximately 87% of the new shares available under the rights offer. This represents gross proceeds of $67 million.

The new shares taken up under the rights offer are expected to be allotted on 13 October 2017.

Shortfall bookbuild

Approximately 9 million shares out of a total rights issue offer size of 67 million shares are available for the shortfall bookbuild component of the offer, to be conducted by Forsyth Barr Limited as Lead Manager. The bookbuild is opening 5:30pm on 10 October and is expected to close on 11 October.

Shareholders who did not take up their full entitlements in the rights offer will receive a pro rata share of any positive difference between the shortfall bookbuild price and the application price for new shares of $1.15 per new share. There is no guarantee that any value will be received from the shortfall bookbuild by eligible shareholders who did not take up their full entitlement.

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For more information contact:

Bill McDonald, Chief Executive Officer, Arvida Group Limited Telephone: 021-270-3669 or email: bill.mcdonald@arvida.co.nz

Jeremy Nicoll, Chief Financial Officer, Arvida Group Limited Telephone: 021-403-665 or email: jeremy.nicoll@arvida.co.nz

About Arvida:

Arvida Group Limited (Arvida) is a retirement village group with an emphasis on providing a continuum of care from independent living through to high quality aged care services. Arvida has 26 villages across New Zealand comprising: Aria Bay, Aria Gardens and Aria Park, Auckland; Copper Crest and Bethlehem Views, Tauranga; Cascades, Hamilton; Lauriston Park, Cambridge; Glenbrae, Rotorua; Molly Ryan, New Plymouth; Lansdowne Park, Masterton; Olive Tree, Palmerston North; Waikanae Lodge, Waikanae; Oakwoods and The Wood, Nelson; Ashwood, Blenheim; Ilam, The Maples, Mayfair, Park Lane, Rhodes on Cashmere, St Albans, St Allisa and Wendover, Christchurch; and Bainlea House, Bainswood House and Bainswood on Victoria, Rangiora. Arvida’s shares trade on the NZX Main Board under the code ARV. See www.arvida.co.nz

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