INGENIA COMMUNITIES GROUP — AGM Information 2020

Nov 9, 2020

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ASX / Media Release
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10 November 2020

2020 AGM Chairman and CEO address

Ingenia Communities Group (ASX:INA) releases the attached Chairman and CEO address for the Group’s Annual General Meeting (AGM) which is being held today at 11.30am (Sydney time).

The meeting will be webcast and can be viewed by using the following link:

https://agmlive.link/INA20

Authorised for lodgement by the Company Secretary of Ingenia Communities Group.

ENDS

For further information please contact:

Donna Byrne General Manager Investor Relations P 02 8263 0507 M 0401 711 542

Ingenia Communities Holdings Limited (ACN 154 444 925), Ingenia Communities Fund (ASRN 107 459 576) and Ingenia Communities Management Trust (ARSN 122 928 410). The Responsible Entity for each scheme is Ingenia Communities RE Limited (ACN 154 464 990) (AFSL415862).

Level 9, 115 Pitt St, Sydney NSW 2000, Australia

T 1300 132 946 E investor@ingeniacommunities.com.au

www.ingeniacommunities.com.au

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ASX / Media Release
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10 November 2020

Ingenia Communities 2020 Annual General Meeting

Chairman’s and CEO & Managing Director’s Addresses

JIM HAZEL - CHAIRMAN

Before I introduce the resolutions before the meeting and speak about the Group’s recent performance, I would like to reflect briefly on the last 12 months.

None of us could have predicted the events of the last year and the challenges they posed. We are continuing to deal with a heightened sense of uncertainty and the long-term consequences of these events are not yet known.

Earlier this year, we rapidly moved from expectations of another year of record growth to facing unprecedented challenges. The devastating bushfires of December and January were soon followed by the COVID-19 pandemic which not only impacted our revenue streams but the way we operate as a business.

We were fortunate to enter this crisis in a strong position and acted quickly and decisively to manage the impact on the business. Our strong culture, collective sense of purpose and our team’s commitment to the health, safety and wellbeing of our residents and guests supported our efforts. I would like to acknowledge the enormous contribution of the Ingenia team as we adapted to ongoing change and uncertainty.

We actively managed our cost base, with close monitoring of capital expenditure and the Board, head office and support staff taking temporary pay cuts. Our operations were modified to comply with health requirements issued by Governments in response to the pandemic, which included closing our holiday parks and our community facilities.

Level 9, 115 Pitt St, Sydney NSW 2000, Australia

T 1300 132 946 E investor@ingeniacommunities.com.au

www.ingeniacommunities.com.au

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Assisted by JobKeeper, we were able to provide ongoing employment for staff across our holiday parks and to avoid stand downs and redundancies while the holiday parks were closed and home sales slowed, materially impacting revenue.

The provision of additional support and equipment to our front-line teams and the adaptation of resident programs during periods of isolation were a focus to maintain resident well being and engagement.

In May, we successfully raised $178 million in equity through a Security Purchase Plan and Placement. I thank security holders for their support of this raising, which allowed us to further strengthen the balance sheet and, importantly, positioned Ingenia to access growth opportunities.

I will now turn briefly to our FY20 result.

The FY20 result benefitted from the implementation of our strategy to build our stable rent base. Pleasingly, this result demonstrated the resilience of that base, with the revenue from our residential communities continuing uninterrupted.

In addition to stable rents from the lifestyle and gardens communities, growth in rental sites via development and acquisition and cost management contributed to growth in key metrics, despite the loss of holiday park revenue and reduced home settlements.

The Group delivered increased revenue; EBIT was up 17%, and underlying profit per security increased 5% on FY19.

Underlying profit and distribution on a per security basis were impacted by the significant increase in securities on issue over the period.

The full year distribution, of 10.0 cents per stapled security, represented a decrease of 11% on FY19, following six years of consecutive growth. We remain cognisant of the importance of distribution growth to many of our security holders and will continue to balance distributions with capital needs.

Level 9, 115 Pitt St, Sydney NSW 2000, Australia

T 1300 132 946 E investor@ingeniacommunities.com.au

www.ingeniacommunities.com.au

2

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The security price has continued to grow, from $3.25 on 1 July 2019 to over $4.90 currently. The price remains well above the Group’s Pro forma Net Asset Value per security of $2.90 (at 30 June 2020).

The Group was included in the S&P/ASX 200 Index in December 2019 and substantially outperformed relevant indices over one, three, five and ten-years to 30 September 2020.

Our focus on sustainable business growth continued over the year and I was very pleased to see the progress we made in formalising and communicating our efforts in this area.

We released our first sustainability disclosures in July 2020, outlining the important role social, governance and environment (ESG) issues play in delivering sustainable value for our stakeholders.

The report provides greater depth of reporting on our social impact and our approach to stakeholder engagement.

Our commitment to ‘creating community’ and providing affordable, high quality communitybased living for Australian seniors extends beyond the built structure. Our impact on resident health and well being, our ability to engage with and support our residents and our desire to have a positive impact is at the heart of all we do. The past year has demonstrated more than ever the attractiveness of this model for many seniors who remained connected within their communities, despite social distancing and travel restrictions.

We were proud to be ranked No. 2 for women in executive leadership team roles in the 2020 Chief Executive Women ASX200 Senior Executive Census, a pleasing acknowledgement of our efforts to ensure that women are represented at all levels of the business.

We are currently reviewing opportunities to reduce the environmental impact of our operations. Projects including the installation of LED lighting and solar and participation in the Green Building Council of Australia’s pilot program for a more energy efficient home will assist in this area.

We are in the early stages of this journey and I look forward to sharing our progress at next year’s Annual General Meeting.

Level 9, 115 Pitt St, Sydney NSW 2000, Australia

T 1300 132 946 E investor@ingeniacommunities.com.au

www.ingeniacommunities.com.au

3

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The execution on our intent to build a leading presence in the emerging lifestyle sector served the Group well in FY20 and provides us with a solid revenue base into FY21.

We are experiencing a recovery in our holiday parks business, with forward bookings up materially as domestic travel restrictions have eased. We have a strong balance sheet with the capacity to continue to invest in our development projects and to acquire new communities.

We are continuing to focus on the impact we have on our communities and their environments.

The coming year, however, remains uncertain with the longer-term impacts of this year’s events on our economy and operating environment still unknown.

We continue to be confident in our strategy and in the ongoing demand for our offerings which resonate with an ageing population. Our management team, led by Simon Owen, will continue to execute on our growth plans and as always to support the health and safety of our residents, guests, and team. Simon will speak more about our performance and outlook shortly.

Turning now to the resolutions for today’s meeting.

Resolutions 3.1, 3.2 and 3.3 relate to the election of directors.

As our strategy has progressed and the business has grown, the composition of the Board has evolved to ensure that it meets the current, and future, needs of the Group. This will continue.

In September this year, we were sorry to see Andrew McEvoy step down as a Director.

Pippa Downes was appointed to the Board in December 2019 and Greg Hayes was appointed in September this year. Both are seeking endorsement of their appointment to the Board today and you will have the opportunity to hear from them later in the meeting.

Level 9, 115 Pitt St, Sydney NSW 2000, Australia

T 1300 132 946 E investor@ingeniacommunities.com.au

www.ingeniacommunities.com.au

4

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Amanda Heyworth, our Chair of the Remuneration and Nomination Committee, is seeking reelection today with unanimous support from the Board.

You will also have the chance to hear from Amanda and vote on her re-election later in the meeting.

Items 2, 4 and 5 relate to remuneration.

The Board recognises the importance of aligning remuneration outcomes to business performance and long-term value creation for security holders. The remuneration framework and outcomes outlined in our remuneration report and in the resolutions before you today reflect this focus. As a Board we continue to monitor our framework to ensure it meets the business’ needs and aligns with stakeholder expectations.

Before I move to Simon’s address, I would like to thank my fellow directors for their dedication and commitment over the past year and all investors for their support for the business and our recent equity raising.

I will now hand over to Simon Owen, your CEO and Managing Director, for his update.

SIMON OWEN – MANAGING DIRECTOR and CEO

Good morning everyone and thanks for your attendance today. I’m excited to be presenting another strong result underpinned by doing the basics well – focussing on our residents and guests, recruiting and developing the best talent, growing our rents, increasing occupancy, building and selling quality homes, integrating acquisitions and being vigilant on costs.

Like most businesses in Australia, Ingenia has been adversely impacted by COVID. Our holidays business was closed for the best part of three months – including the lucrative Easter period - and our new homes sales were tempered over the same period. However, I do think we recognised the potential threat of COVID early and our decisive agile response has minimised the impact.

Level 9, 115 Pitt St, Sydney NSW 2000, Australia

T 1300 132 946 E investor@ingeniacommunities.com.au

www.ingeniacommunities.com.au

5

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It is pleasing to report that across the entire business to date - 750 staff, over 7,000 residents and hundreds of thousands of holiday guests we have recorded just a single incidence of COVID. We have invested a huge amount of effort and resources on doing the very best we can to keep our staff, residents and guests safe.

Our business model is firmly focussed at the lower and mid quartile residential markets in outer ring metro and accessible sea and tree change locations where there is genuine resilience in home prices and underlying demand. Ingenia Gardens, our affordable seniors rental business, is presently travelling at a near record occupancy rate of 94%. Rent collection within our Lifestyle business remains unchanged. Our business is underpinned by cash rents which are largely funded by Commonwealth government pension and rent assistance payments. Arrears or requests for rental abatements or deferrals are nonexistent.

Our holidays business is strongly leveraged to the incredible demand we are now witnessing in domestic tourism and our forward bookings through to 30 June next year are up over 70% when compared to the same period last year. Caravan sales are very strong at the moment – a six month wait for a new caravan is not unusual – and the two most popular regions in Australia for caravanning and camping are the NSW North Coast and NSW South Coast where Ingenia has market leading positions.

In late April we made the decision to raise capital. The purpose of this was not to deleverage the balance sheet which was already in excellent shape. It was about sector leadership, securing additional growth and creating compelling long-term security holder value.

Some of our competitors are pausing construction, deferring growth capital expenditure, holding back on marketing spend or withdrawing from M&A. At Ingenia we see the current market dislocation as a once in a decade opportunity to build long term sustainable market share and slingshot past the competition.

Our business model is uniquely leveraged to the intersection of three key thematics – an ageing population, a continuing housing affordability crisis and several generations of people retiring with limited savings beyond the family home. We have an incredible growth runway in place and our sector leading development pipeline of over 3,000 home sites is significantly larger than any of our competitors.

Level 9, 115 Pitt St, Sydney NSW 2000, Australia

T 1300 132 946 E investor@ingeniacommunities.com.au

www.ingeniacommunities.com.au

6

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Ingenia has significant capital optionality with our lowly geared balance sheet, our development JV with Sun Communities and our funds management platform. This all strengthens our capability to deliver, grow and lead. I am very confident in our ability to deliver growth as we deploy capital to grow our asset base and accelerate development.

Ingenia is a clear sector leader of lifestyle communities across Australia. Our business is underpinned by owning land and collecting rent. We presently have over 9,900 income yielding homes, cabins and sites that we own and/or manage, and this number continues to grow every week as we settle new homes, add new rental and tourism cabins across the portfolio and close on acquisitions. Combined with our Ingenia Gardens business, our annual revenues are now tracking at over $250 million. We generate rent inflows of over $2 million per week. Every week.

The size of the lifestyle community market in Australia is growing and so is Ingenia’s market share. It remains our absolute resolve to be the clear market leader as measured by new home settlements, security holder returns, staff engagement and most importantly resident and customer satisfaction and experience.

I’m now going to briefly touch on our financial performance and key results. Record revenue of $244.2 million for the year which is up 7% on 12 months ago. To put that in perspective full year revenue for the 2017 financial year only three years ago was $149 million. Operating cashflow was up 13% to over $67 million.

Notwithstanding COVID we still settled a near record 325 homes and increased the number of lifestyle and rental homes in our portfolio by 24% during the year to over 4,000 sites.

Today the Group is pleased to announce that we have recently agreed terms to acquire two iconic beachfront holiday parks, including our first in Victoria.

Settlement is subject to finalising customary due diligence with Ingenia likely to take over operations in the coming months. The combined purchase price for the two parks is approximately $54 million, offering a combination of attractive in place site yields combined with considerable repositioning upside.

Level 9, 115 Pitt St, Sydney NSW 2000, Australia

T 1300 132 946 E investor@ingeniacommunities.com.au

www.ingeniacommunities.com.au

7

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Our acquisitions team has remained very busy right through COVID and the Group is close to finalising several other opportunities in the lifestyle, mixed use and holidays sectors and optioning up additional development sites.

The charts on this page, only released by Core Logic last week, show that a variable speed gradual recovery in the Australian housing market is now underway. Clearly Ingenia is leveraged to the Australian residential housing market so this represents further good news for our business.

I would offer a few comments:

• Home price growth is not uniform across all markets – Victoria is lagging NSW and Qld

• Regional markets are outpacing capital cities as sea and tree change locations experience increased COVID driven demand

• Increased time on market and volatile consumer confidence remain key risks.

Our focus on key accessible coastal markets such as Port Stephens, Coffs Harbour and Hervey Bay is working well. Pre-sales at our new Ballarat project in Victoria currently remain soft due to COVID restrictions.

As I noted previously, COVID has required us to be nimble and agile and this has included how we approach new home sales.

We have had to pivot from large open days to small group open homes, mini events and experiential ‘in community’ events. Larger virtual events have also proven to be very successful – we had over 1,100 enquiries generated by recent ‘Starts at 60’ webinars.

Year to date settlements continue to track ahead of the prior year. Through to the end of the last week we have settled 100 homes in the current financial year (up 16% on prior year) and have a further 189 homes deposited or contracted.

Level 9, 115 Pitt St, Sydney NSW 2000, Australia

T 1300 132 946 E investor@ingeniacommunities.com.au

www.ingeniacommunities.com.au

8

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Last year approximately 1.2 million Australians went on a cruise and we spent over $65 billion on overseas travel. With overseas borders effectively shut Australians are choosing to holiday at home and our holiday parks – readily accessible and perfect for the family getaway – are proving to be huge beneficiaries.

Our forward bookings for the next 12 months are presently some 70% higher than the same time last year and the bookings are flooding in every day at a record rate.

Several weeks ago, Ingenia was awarded the Best Affordable Housing Development in Australia by the Property Council of Australia for our Chambers Pines lifestyle community in Logan just south of Brisbane.

Over the last year we have invested considerable time and energy in prototyping a new onebedroom detached home which we can release for under $200,000. This product, recently introduced at Chambers Pines, represents an entirely new market segment for Ingenia and to date is proving to be very popular.

As noted by the Chairman earlier this morning ESG – Environment, Social and Governance – is a large and growing focus of the Group. In previous years I have spoken about our partnership with Ronald McDonald House Charities® Australia which provides both financial and in-kind support. In addition to contributing to their family rooms located in eighteen hospitals in Australia, we provide support to their learning program for children who are in hospital away from their school. We are also refurbishing a bathroom at their Randwick House. There is considerable alignment with our holiday communities where families with young children are a core market for Ingenia. In addition, it provides many opportunities for team building for the Ingenia team and engagement for our residents.

We also support many local charities and community groups – including the RSPCA, Cancer Council, Bush Kids and numerous schools and sporting clubs - through sponsorships, donations and the involvement of our team and residents.

From a sustainability perspective Ingenia is also working with the Green Building Council of Australia on a new standard for homes and are aiming to have the first certified green homes in a lifestyle village in Australia.

Level 9, 115 Pitt St, Sydney NSW 2000, Australia

T 1300 132 946 E investor@ingeniacommunities.com.au

www.ingeniacommunities.com.au

9

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Delivering a higher quality of life for our residents is intrinsically linked to sustainable investor returns.

At this stage Ingenia is unable to provide guidance for this financial year due to the considerable uncertainty in our current operating environment and the timing of deployment of the capital we raised back in May. We have a considerable pipeline of acquisitions currently under assessment, in addition to the two announced today, however the timing of financial close remains unclear.

I would note that the broad outlook for the business continues to remain positive with rent collection intact, new home settlements continuing to grow and demand for holidays incredibly strong in key markets.

I would like to thank all security holders for your attendance today at our first virtual AGM. I would also like to especially thank the Ingenia team of over 700 dedicated employees for their continuing commitment to performance and superior customer and resident experience. As well as the 7,000 people who live in an Ingenia community and the more than 350,000 people who chose to stay in one of our holiday communities over the past 12 months.

I greatly look forward to working with the team over the next year in what I am sure will be another busy, challenging and exciting year.

Equally I would also like to thank Jim, Amanda, Rob, Pippa, Gary, Greg, and our Company Secretary Nhu for their support and guidance over the past year. A special thanks to our recently departed Director Andrew McEvoy who made a huge contribution during his period with the Group.

The management team takes great confidence in having such a committed, inquisitive and supportive Board.

Ladies and Gentlemen, thank you for your time today and your continued support of Ingenia Communities.

I will now hand back to the Chairman for the formal business of the meeting.

ENDS

Level 9, 115 Pitt St, Sydney NSW 2000, Australia

T 1300 132 946 E investor@ingeniacommunities.com.au

www.ingeniacommunities.com.au

10

Presented by Jim Hazel and Simon Owen 10 NOVEMBER 2020

INGENIA COMMUNITIES GROUP

ANNUAL GENERAL MEETING 2020

Approved for lodgment by the Chairman 1

Agenda

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Chair Address Jim Hazel, Chairman

CEO Address Simon Owen, Chief Executive Officer

Questions Formal Business Jim Hazel, Chairman

Streetscape at Ingenia Lifestyle Plantations, NSW

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2

ANNUAL GENERAL MEETING 2020

FY20 brought unprecedented challenges

Prior to March 2020 the business was expected to deliver another year of growth COVID-19 and associated restrictions created unprecedented challenges Entered COVID-19 crisis in a strong position and responded rapidly

• Actively managed cost base – temporary pay and fee reductions and monitoring of non essential capital expenditure

• Adjusted operations to comply with health requirements and support residents, guests and staff

• Raised equity to strengthen balance sheet and access opportunities

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3 ANNUAL GENERAL MEETING 2020

Significant rental base underpinned FY20 result Resilience of cash flows demonstrated

• Benefits of strategy demonstrated as cashflows from stable resident rent base continued undisturbed

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Distribution per security
(Cents )
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• Growth in rental base and cost management contributed to increased revenue and EBIT (vs FY19)

• Distribution per security impacted by increase in securities on issue and prudent capital management

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12.0
10.0
8.0
6.0
4.0
2.0
0.0
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
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4

ANNUAL GENERAL MEETING 2020

Security price and total return

Ingenia Security Price ($)

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$
5.7
5.2
4.7
4.2
3.7 Equity Raising
3.2 $3.45
2.7
2.2
1-Jan-19 1-Feb-19 1-Mar-19 1-Apr-19 1-May-19 1-Jun-19 1-Jul-19 1-Aug-19 1-Sep-19 1-Oct-19 1-Nov-19 1-Dec-19 1-Jan-20 1-Feb-20 1-Mar-20 1-Apr-20 1-May-20 1-Jun-20 1-Jul-20 1-Aug-20 1-Sep-20 1-Oct-20 1-Nov-20
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Total Securityholder Return (%) to September 2020*

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40
30
20
10
0
1 year 3 years 5 years 10 years
-10
-20
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Ingenia Communities S&P/ASX 200 Property Accumulation Index ASX All Ordinaries Accumulation Index

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• Source: UBS: Australian REIT Month in Review.

5 ANNUAL GENERAL MEETING 2020

Sustainability

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Our vision is to ‘Create Australia’s best lifestyle and holiday communities’

• In delivering our vision we seek to have a positive impact each and every day on our residents, guests, staff and the $73 million of established communities and expansion land acquired communities in which we operate

• Health, safety and well being of residents at the forefront of COVID-19 response

• First sustainability reporting produced July 2020

• Recognition for our leadership in gender equality ( ranked No. 2 for women in executive leadership team roles )*

• Continuing to enhance reporting and progress key initiatives

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Ranked No. 2 for women in
executive leadership
team roles
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* CEW ASX200 Senior Executive Census 2020.
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6 ANNUAL GENERAL MEETING 2020

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Focus on the future

• Business is well placed to respond to changing circumstances, while maintaining a focus on the future

• Economic and operating environment remains uncertain

  • › Border closures and restrictions continuing

• › Strong balance sheet and significant capital for growth

• › Holiday parks demand building

• › Solid revenue base in place

• › Committed, experienced team

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7

ANNUAL GENERAL MEETING 2020

Resolutions

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Development underway at Ingenia Lifestyle Plantations More than 100 homes have been sold in this vibrant, growing community

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8 ANNUAL GENERAL MEETING 2020

CEO Address

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Ingenia Lifestyle and Ingenia Holidays Lake Conjola, NSW
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9

ANNUAL GENERAL MEETING 2020

Business overview Rental base growing through acquisition and development

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$
Rent base
$2 million/pw
Over 9,900
$1.1B
Income producing
sites
Property Portfolio
3,015
Development sites 74
Communities
9 communities under
development
37 Lifestyle and Holidays
>971,000
26 Ingenia Gardens
‘room nights’ p.a.
Cabins, caravan
and camping 9 Allswell Communities (funds)
Note: Property portfolio includes balance sheet assets, post 30 June acquisitions, communities owned by managed funds and the Group’s Joint Venture with Sun Communities. 2 Joint Venture (with Sun Communities)
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Note: Property portfolio includes balance sheet assets, post 30 June acquisitions, communities owned by managed funds and the Group’s Joint Venture with Sun Communities. Excludes assets held for sale.

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10

ANNUAL GENERAL MEETING 2020

Results summary Strong performance in FY20, despite COVID-19 impact in fourth quarter

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FINANCIAL

• Revenue of $244.2 million – up 7% on FY19

• EBIT $71.9 million – up 17% on FY19

• Underlying EPS 22.1 cents – up 5% on FY19

• Operating cash flow $67.2 million – up 13%

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DEVELOPMENT

• Settled 325 new homes – down only 3% on record FY19 result

• Average home price up 12% to $430,000

• Strong development pipeline – 3,015 home sites owned or secured

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STRATEGY

• Key strategic priority is positioning for lifestyle sector leadership

• Lifestyle rental base increased by 24% - more than 4,000 sites generating stable cash flows

• Significant balance sheet capacity for portfolio growth

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OPERATIONS

• Rental revenue continuing to grow – up 5% on FY19 to $94.5 million

• Ingenia Lifestyle margin expansion – up 40 basis points to 39.7%

• Ingenia Gardens record high occupancy of 94.4%

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11 ANNUAL GENERAL MEETING 2020

Progressing acquisition of two large beachfront holiday communities Ingenia to acquire first holiday community in Victoria

Victorian coastal holiday community

New South Wales coastal holiday community

• Located two hours from Melbourne

• Located within three hours of Sydney

• One of the largest and best located holiday parks in Victoria

• Comprises 400 sites, including 100 annual sites, 50 cabins and 250 sites

• Purchase price of $34 million offering attractive ingoing yield and significant upside

• Income underwritten by over 350 annual sites – further 25 cabins and 150 sites

• Purchase price of $21 million offering attractive yield and significant upside

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12

ANNUAL GENERAL MEETING 2020

Residential markets continue to improve Australian housing values move into recovery mode

Housing market outlook continues to improve

• Home price growth not uniform across all markets – Victoria lagging NSW and QLD

• Regional markets outpace capital cities as sea and tree change locations experience increased COVID-19 driven demand

• Increased time on market and volatile consumer confidence remain key risks

Focus on key accessible coastal markets working well

• Demand remains very firm at key coastal projects, including Latitude One, Plantations (NSW) and Hervey Bay (QLD)

• Pre-sales at Ballarat (Vic) remain soft due to COVID-19 restrictions

Land lease supply remains constrained

• Ingenia’s market leading development pipeline of 3,015 potential home sites represents a key competitive advantage

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• There remains massive demand for affordable downsizer/retiree housing

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Source: Core Logic Hedonic Home Value Index November 2020.

13

ANNUAL GENERAL MEETING 2020

Development projects remain on track

Sales process adjusted to support settlements

• Larger virtual events proving successful – over 1,100 enquiries generated by recent ‘Starts at 60’ webinar

• At community level have transitioned to small group open homes, mini events and experiential ‘in community’ events

Year to date settlements tracking ahead of prior year

• Settled 100 homes in current financial year (up 16% on prior year)

• Further 189 homes deposited or contracted

Strong project pipeline in place

• New projects anticipated to launch this year include Sunnylake Shores, Bevington Shares and Morisset in NSW and Ballarat, Lara expansion and Beveridge in Victoria

• Average home sales price and margin in line with FY20

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14

ANNUAL GENERAL MEETING 2020

Ingenia Holidays Parks now open, demand strong

• Current offshore travel restrictions represent a unique opportunity to attract new guests

• Since domestic travel restrictions eased, holiday parks are outperforming other accommodation types

• Lower Q1 revenue offset by strong performance across September and October (YTD up slightly on prior year)

• At end October, 12 month forward bookings are up 70% when compared to October 2019, with strong rate growth as demand increases

Bookings Placed During Month*

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$m
7.00
6.00
5.00
4.00
3.00
2.00
1.00
0.00
July August September October
2019 2020
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• Represents 12 month forward bookings.

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Ingenia Holidays Cairns Coconut, QLD
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15

ANNUAL GENERAL MEETING 2020

Growing focus on ESG

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Awarded Best Affordable Housing Development

Property Council of Australia/Rider Levett Bucknall Innovation & Excellence Awards 2020

Ingenia Lifestyle Chambers Pines Affordable community located in Logan, QLD

New home product now available for less than $200,000, enhancing affordability of this high quality community

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16

ANNUAL GENERAL MEETING 2020

Growing focus on ESG

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ESG initiatives and reporting are a key focus for Board and Management

• Internal working group driving identification of initiatives, key projects and reporting

Creating a positive social impact is core to the Group’s strategy

• Resident and guest health, well being and satisfaction aligned to business outcomes

Current projects

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Rollout of solar across 50 established Installation of LED lighting across communities holiday parks

• Community partnership with Ronald McDonald House Charities Australia entering second year

• › Providing support for the charity’s programs

• › Driving staff and resident engagement

Extending focus on environment

• Establishing environmental objectives and performance targets

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• ‘Waterwise’ program in holiday parks to reduce water use

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Participation in Green Star for Homes Early Access Program

• Continuing key projects

Our success is dependent on efficiently utilising land to create cohesive communities and focusing on the well-being of our residents. Delivering a higher quality of life for our residents is intrinsically linked to sustainable investor returns

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17 ANNUAL GENERAL MEETING 2020

Outlook

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The Group is well placed and is maintaining a focus on the future

• Rent from residents providing stable cash flows

• Ingenia Holidays demand strong

• Settlements continuing to grow

• Balance sheet strength and significant funding capacity support growth

Long term fundamentals support demand for the Group’s core business of affordable seniors housing

• Continuing to monitor near term economic outlook and operating restrictions

Guidance remains withdrawn due to uncertainty around acquisitions program, timing of border openings and market conditions

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Questions

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Ingenia Holidays Rivershore, QLD
Ingenia Lifestyle, Latitude One, NSW
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ANNUAL GENERAL MEETING 2020

Formal business of meeting

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Ingenia Holidays Rivershore, QLD
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ANNUAL GENERAL MEETING 2020

Item 1

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Item 1:

Ingenia Communities Group Financial Statements and Reports

“To receive and consider the Financial Report, the Directors’ Report and the Auditor’s Report of the Group for the year ended 30 June 2020.”

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21
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Item 2

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Item 2:

To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “To adopt the Remuneration Report for the year ended 30 June 2020.”

Proxies Received

For	246,888,906	93.53%
Open	302,721	.11%
Against	16,787,809	6.36%
Abstain	799,880

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Item 3

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Item 3.1:

To consider and, if thought fit, pass the following as an ordinary resolution of the Company:

“That Ms Amanda Heyworth, being a Director who is retiring in accordance with clauses 74.1 and 74.4 of the Company’s Constitution and Listing Rule 14.4, and being eligible, offers herself for re-election, be re-elected as a Director of the Company.”

Proxies Received

For 262,092,953 99.32% Open 301,990 .11% Against 1,504,899 .57% Abstain 905,474

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Item 3

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Item 3.2:

To consider and, if thought fit, pass the following as an ordinary resolution of the Company:

“That Ms Pippa Downes, being a Director who was appointed by the Directors on 4 December 2019 and whose appointment as a Director expires at the conclusion of the Annual General Meeting of the Company in accordance with clause 73.2 of the Company’s Constitution and Listing Rule 14.4, and being eligible, offers herself for election, be elected as a Director of the Company.”

Proxies Received

For	261,925,119	99.17%
Open	302,588	.11%
Against	1,902,226	.72%
Abstain	686,788

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24 ANNUAL GENERAL MEETING 2020

Item 3

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Item 3.3:

To consider and, if thought fit, pass the following as an ordinary resolution of the Company:

“That Mr Greg Hayes, being a Director who was appointed by the Directors on 17 September 2020 and whose appointment as a Director expires at the conclusion of the Annual General Meeting of the Company in accordance with clause 73.2 of the Company’s Constitution and Listing Rule 14.4, and being eligible, offers himself for election, be elected as a Director of the Company.”

Proxies Received

For	263,054,734	99.61%
Open	302,588	.11%
Against	717,992	.27%
Abstain	741,407

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Item 4

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Item 4:

To consider and, if thought fit, pass the following as an ordinary resolution of the Company:

“That for the purposes of Listing Rule 7.2, Exception 13, and for all other purposes, Security holders approve the issue of securities under the Ingenia Communities Group Rights Plan on the terms and conditions outlined in the Explanatory Notes.”

Proxies Received

For 262,724,056 99.54% Open 287,138 .11% Against 916,132 .35% Abstain 758,324

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26 ANNUAL GENERAL MEETING 2020

Item 5

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Item 5.1:

To consider and, if thought fit, pass the following as an ordinary resolution of the Company:

“That for the purposes of ASX Listing Rule 10.14 and for all other purposes, Security holders approve the grant by the Company to Mr Simon Owen of FY20 Short-Term Incentive Rights calculated as outlined in the Explanatory Notes (and the issue of Stapled Securities upon the vesting and exercise of those Rights), under the Ingenia Communities Group Rights Plan and on the terms and conditions set out in the Explanatory Notes.”

Proxies Received

For	262,906,100	99.57%
Open	316,804	.12%
Against	822,242	.31%
Abstain	760,170

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Item 5

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Item 5.2:

To consider and, if thought fit, pass the following as an ordinary resolution of the Company:

“That for the purposes of ASX Listing Rule 10.14 and for all other purposes, Security holders approve the grant by the Company to Mr Simon Owen of Rights in respect of Fixed Remuneration, Short-Term Incentive and Long-Term Incentive calculated as outlined in the Explanatory Notes (and the issue of Stapled Securities upon the vesting and exercise of those Rights), under the Ingenia Communities Group Rights Plan and on the terms and conditions set out in the Explanatory Notes.”

Proxies Received For 262,900,873 99.57% Open 316,804 .12% Against 831,277 .31% Abstain 756,362

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28 ANNUAL GENERAL MEETING 2020

THANK YOU

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ANNUAL GENERAL MEETING 2020

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Disclaimer

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 10 November 2020 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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30 ANNUAL GENERAL MEETING 2020