INGENIA COMMUNITIES GROUP — AGM Information 2019

Nov 11, 2019

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2019 ANNUAL GENERAL MEETING

Creating Australia’s best lifestyle and holiday communities

Ingenia Lifestyle Hervey Bay, QLD

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Jim Hazel Chairman

Ingenia Lifestyle The Grange, NSW

Overview: FY19 Ingenia continues to grow its rental income base, supported by development

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• Resilient business model established

• Existing homes, cabins and sites paying rent – generating stable, growing cash flows

• • Development Joint Venture with Sun Communities and expansion into funds management diversify capital base, create new fee income and improve return on equity

• • Record home settlements and expanding margins

• • Additional $73 million assets acquired

• Includes Ingenia Lifestyle and Holidays and Ingenia Gardens. Excludes managed funds.

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Strategy focused on growing stable rental returns

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• $73 million of established communities and expansion land acquired

• Mixed use community, at Byron Bay, NSW › 269 permanent homes and holiday sites

• • Rivershore Holiday Resort, Sunshine Coast, QLD › 95 holiday sites

• • Brisbane North, Aspley, QLD › 350 site permanent rental community

• Ingenia Lifestyle, Lara, VIC › 6.8 hectares of land adjacent to 210 home community

• Chambers Pines, Logan, QLD › 4.2 hectares of expansion land adjacent to 310 home community

Ingenia Holidays Byron Bay, NSW 4

Security price and total return

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Ingenia Security Price ($)

Total Securityholder Return (%) to October 2019

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4.7 70
Equity Raising
58.3
60
4.2
$3.93
50
3.7
40
3.2
30
23.6 24.1
22.0
2.7 19.4
20
12.7 12.4 12.8 12.4 12.3
8.8 8.3
2.2 10
0
1 year 3 years 5 years 10 years
Ingenia Communities S&P/ASX 200 Property Accumulation Index
ASX All Ordinaries Accumulation Index
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Source : IRESS.

Source : UBS: Australian REIT Month in Review, October 2019.

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First Joint Venture Project: Burpengary, Queensland

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–
Artist impressions Ingenia Lifestyle Freshwater, QLD
Development underway at Ingenia Lifestyle Freshwater, QLD
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Creating Australia’s best lifestyle and holiday communities

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Outlook

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Ingenia Lifestyle Latitude One, NSW

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SIMON OWEN CEO & Managing Director

Ingenia Holidays Ocean Lake, NSW

Business Overview

Rental base growing through acquisition and development

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$
Stable rent base
>$2 million/pw
$1B
Over 9,370
Income producing Property Portfolio
sites Creating Australia’s
Best Lifestyle and
Holiday Communities
Over 3,870
Development sites
secured
10 communities
73
under development
Communities
35 Lifestyle and Holiday Communities
Over 6,100 rental
940,000 and lifestyle 26 Ingenia Gardens Communities
‘room nights’ p.a. residents
Cabins, caravan 10 Allswell Communities (funds)
and camping
2 Joint Venture (greenfield)
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Note: Includes balance sheet assets and communities owned by funds and the Group’s Joint Venture with Sun Communities. Property Portfolio excludes assets under option or held for sale and announced acquisitions yet to complete.

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Key financials

Successful integration of new assets delivering increased earnings

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KEY FINANCIAL METRICS	FY19	FY18
Revenue	$228.7m	$189.5m	21%
EBIT1	$61.5m	$48.8m	26%
Statutory profit	$29.3m	$34.2m	14%
Underlying profit1	$47.2m	$36.8m	28%
Underlying EPS1	21.0c	17.7c	19%
Operating cash flow	$59.3m	$47.2m	26%
Distribution per security	11.20c	10.75c	4.2%
	30 JUN 19	30 JUN 18
Net Asset Value (NAV) per security	$2.65	$2.57	3%

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Expansion into funds management Generating new revenue streams and capital efficiency

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Acquisition of established funds management business (Eighth Gate Capital) complete August 2019

• Six funds with $140 million in assets under management

• Investment of $19.6 million to acquire business and interest in funds

• • Expect to generate >$2 million in fee revenue per annum

Adds over 1,600 income producing sites (homes and holiday sites) to platform

Federation Village Werribee, Werribee, VIC

• Assets in NSW, SE QLD and Victoria – branded Allswell Communities

• Includes 160 home greenfield site in Ballarat, Victoria

• Ingenia has the right to acquire assets if/when funds’ assets are realised

Tall Timbers, Shoalhaven Heads, NSW

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Successful equity raising now complete Proceeds to fund on-strategy acquisitions and growth

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$131.1 million raised for six identified acquisitions and additional growth

• Three established assets (540 income producing sites)

Strong demand from existing and new investors

• Participation by over 1,100 investors in the Retail Entitlement Offer which raised $16.7 million

• Two parcels of expansion land adjacent to existing communities

• Equity for Joint Venture to fund large greenfield site under conditional contract

• Growth capital ($18.4 million)

Expansion land at Rivershore Resort, Sunshine Coast

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First transaction due to be complete end November

Colonial Village, Brisbane

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• Well presented mixed-use community in Taigum, 16 km north of Brisbane CBD

• Comprises 110 permanent homes and 40 short-term cabins and units as well as ~10 development sites

• Median suburb house price $540,000

• Ingoing yield 7.5% on acquisition price

• Multiple value-add opportunities identified

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Delivering future growth Building rental base and enhancing capital efficiency

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1

On balance sheet acquisitions – continuing to identify opportunities

 Three established communities ($64 million) acquired FY19  Further $70 million of established assets to be funded via equity raising  Multiple opportunities under assessment

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Funds management platform

 New platform with $140 million assets under management across six funds  Diversifies revenue through complementary business

 Ability to continue to grow revenues and assets under management

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Joint Venture with Sun Communities accelerating development

 Capital efficient way to fund asset creation  Attractive fee streams – enhances project returns  Right to acquire completed asset

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Addition of new accommodation to existing communities

 New home settlements – 336 homes settled FY19 ($2.7 million rent pa)  New rental and tourism cabins in existing communities (57 added FY19)  Development pipeline of 3,870 potential new home sites in place

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Greenfield communities: Latitude One Attractive lifestyle with quality homes and facilities

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Ingenia Lifestyle Latitude One – first greenfield community experiencing strong demand

• Premium community with extensive infrastructure and facilities supporting 270 new homes

• Project launched November 2017

• 123 homes now settled

• Contracts and deposits in place for a further 55 homes

First use of new designs, construction methods and sales and marketing methodology

Ingenia Lifestyle, Latitude One, Anna Bay NSW

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Greenfield communities: Hervey Bay Attractive lifestyle with quality homes and facilities

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• Ingenia Lifestyle Hervey Bay – third greenfield community progressing well

• Works commenced end 2018 on 253 home lifestyle community

• First homes now being constructed

• 26 deposits and contracts in place

• First settlements expected December 2019

Artist impression of clubhouse, Ingenia Lifestyle Hervey Bay, QLD

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Sales outlook remains positive

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Ingenia Lifestyle Plantations, NSW
Cumulative new home settlements
1,000 917
900
800
700
600
500
400
300
200
100
0
FY14 FY15 FY16 FY17 FY18 FY19
Cumulative settlements of new homes
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Record 336 new home settlements delivered FY19 with strong demand at key projects

Year to date settlements tracking ahead of FY19

• Settlement of 89 homes FY20 year to date (up 21% on prior year)

• Further 243 homes deposited or contracted

• Margins consistent with FY19

• General market conditions for home sales have improved, however consumers remain cautious

Creation of new rental contracts through development remains attractive

• The 917 rental contracts created to date now deliver over $7 million in rental revenue per annum

Note: Excludes settlements from assets which have been divested.

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Giving back to our communities Driving resident and team engagement

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Partnership with Ronald McDonald House Charities[] Australia

• First ever National Family Room Partner, providing support across all 18 locations

• Cash donation and in kind support

Strong sense of engagement from Ingenia team

• “Meals from the Heart” program in NSW, Queensland, Victoria and Western Australia (seven houses) – now in second year

• • Gifted VIP holiday experiences hosted by Ingenia’s holiday parks allowing site teams to participate

Extends resident engagement, supplementing established locally based community activities

• Fund raising and support for local charities and community groups a key part of community activity program

• Communities support groups including schools, pre-schools, RSPCA, Rotary, Cancer Council and Surf Life Saving

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Charities supported include:

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Recent awards

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Caravan & Camping Industry Association Land Lease Living Community of the Year Ingenia Lifestyle The Grange Land Lease Living Community Engagement Ingenia Lifestyle Plantations Employee of the Year – Holiday Park Tess Clark Employee of the Year – Community Misty Lovis Outstanding Contribution by a Young Achiever Christopher Stokoe Queensland Tourism Awards Gold - Caravan and Holidays Parks Ingenia Holidays Cairns Coconut Ingenia Lifestyle The Grange, NSW

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Ingenia Holidays Cairns Coconut, QLD
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FY20 focus

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Improve performance of existing assets to drive growth in rental revenue

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Execute Joint Venture business plan, delivering opportunities for capital light growth and additional revenue streams

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Continue asset recycling to fund growth

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Continue focus on sales and marketing to successfully launch new projects and deliver new rental contracts

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Capitalise on opportunities to expand development pipeline to deliver new rental contracts and support development Joint Venture growth

Integrate funds management business and deliver performance for fund investors

Grow investor returns through delivery of FY20 guidance - growth in EBIT of 15 - 20% and underlying EPS growth of 5% - 10%

1. EBIT and underlying EPS are non-IFRS measures which exclude non operating items such as unrealised fair value gains/(losses) and gains/(losses) on asset sales. 2. Guidance is subject to no material adverse change in market conditions and timing of key development projects.

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Disclaimer

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This presentation was prepared by Ingenia Communities Holdings Limited (ACN 154 444 925) and Ingenia Communities RE Limited (ACN 154 464 990) as responsible entity for Ingenia Communities Fund (ARSN 107 459 576) and Ingenia Communities Management Trust (ARSN 122 928 410) (together Ingenia Communities Group, INA or the Group). Information contained in this presentation is current as at 11 November 2019 unless otherwise stated.

This presentation is provided for information purposes only and has been prepared without taking account of any particular reader’s financial situation, objectives or needs. Nothing contained in this presentation constitutes investment, legal, tax or other advice. Accordingly, readers should, before acting on any information in this presentation, consider its appropriateness, having regard to their objectives, financial situation and needs, and seek the assistance of their financial or other licensed professional adviser before making any investment decision. This presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the subscription for, purchase or sale of any security, nor does it form the basis of any contract or commitment.

The forward looking statements included in this presentation involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to, the Group. In particular, they speak only as of the date of these materials, they assume the success of the Group’s business strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from forward looking statements and the assumptions on which those statements are based. Given these uncertainties, readers are cautioned not to place undue reliance on such forward looking statements.

The Group, or persons associated with it, may have an interest in the securities mentioned in this presentation, and may earn fees as a result of transactions described in this presentation or transactions in securities in INA.

This document is not an offer to sell or a solicitation of an offer to subscribe or purchase or a recommendation of any securities, including in the United States or any other jurisdiction in which such an offer would be illegal.

Except as required by law, no representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information, opinions and conclusions, or as to the reasonableness of any assumption, contained in this presentation. By reading this presentation and to the extent permitted by law, the reader releases each entity in the Group and its affiliates, and any of their respective directors, officers, employees, representatives or advisers from any liability (including, without limitation, in respect of direct, indirect or consequential loss or damage or loss or damage arising by negligence) arising in relation to any reader relying on anything contained in or omitted from this presentation.

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