INGENIA COMMUNITIES GROUP — AGM Information 2022

Nov 16, 2022

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ASX / MEDIA RELEASE
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17 November 2022

Annual General Meeting of Ingenia Communities Group

Enclosed is the presentation in relation to today’s Annual General Meeting (AGM) of Ingenia Communities Group.

Authorised for lodgement by the Company Secretary.

ENDS

For further information please contact:

Donna Byrne

General Manager Investor Relations & Sustainability P 02 8263 0507 M 0401 711 542

About Ingenia Communities Group

Ingenia Communities Group (ASX: INA) is a leading operator, owner and developer of communities offering quality affordable rental and holiday accommodation focussed on the growing seniors market in Australia. The Group has over 100 communities across Australia and is included in the S&P/ASX 200.

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 3, 88 Cumberland Street The Rocks NSW 2000, Australia

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

ingeniacommunities.com.au

COVER TO BE UPDATED

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Chairman’s address

Ingenia Holidays White Albatross, NSW

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Welcome and introduction

Ingenia celebrated 10 years since internalising management in June 2012

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Ingenia Gardens First land lease community First holiday park First greenfield development
Portfolio of 26 communities 2013 2013 2018
on internalisation
2012
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FY22 result

Guidance delivered in a year of heightened portfolio growth

• Result underpinned by

• Stable rent base

• Improving Holiday Parks performance

• Acquisitions and new home completions

• Distribution per security up 5% to 11.0 cents

• Impacted by additional securities on issue

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Seachange Emerald Lakes, QLD
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Sustainability Focus aligned to strategy, vision and values

Social

Environment

Governance

67%

Women in the Workplace #1 for gender diversity amongst property companies[1]

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First to commit to large scale future delivery of 261 Green Star Homes

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Second Modern Slavery statement - further development of responsible sourcing framework

Charitable Giving

Industry Leading Positively impacting Parental Leave Policy our communities

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Solar investment increased

Partnership to create Net Zero transportable cabin prototype

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Climate Related Resilience and Risk

Responding to the risks and opportunities posed by a changing climate in both new project design and in existing assets

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1. CEW Senior Executive Census, 2022.

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Sustainability

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Committed to delivering Australia’s first Green Star Homes community

Contributing to Net Zero transportable cabin prototype through collaboration with Prefabulous

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Portfolio enhanced

• $650 million acquisitions FY22

• Enhanced market reach and scale

• Increased exposure to core lifestyle business

• Recent acquisitions and development pipeline support future returns

• Ongoing portfolio review to support funding needs and improve portfolio quality and sustainability

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Seachange Toowoomba, QLD
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BIG4 Ingenia Holidays Queenscliff Beacon, VIC

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Focus on the future

Forecasting growth for FY23

• Fundamental demand drivers remain strong - ageing population and domestic travel

• Guidance reflects current operating conditions and diverse business

  • Strong demand for our communities and holiday parks

• FY23 result anticipated to be at the lower end of guidance range

• Constraints on home completions (labour and weather impacts)

• EBIT growth of 30-35%; underlying EPS growth of 5-10%

Guidance is subject to no material changes in market conditions and no other unforeseen circumstances adversely affecting financial performance, including further supply chain and labour shortages. EBIT and underlying EPS are non-IFRS measures which exclude non-operating items such as unrealised fair gains/(losses) and gains/(losses) on asset sales.

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Ingenia Lifestyle Freshwater, QLD
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CEO address

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Ingenia Holidays One Mile Beach, NSW
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Business overview

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FY22 results: financial summary

PERFORMANCE

REVENUE STATUTORY PROFIT $338.1m $100.6m + 14% on FY21 + 38% on FY21

UNDERLYING EPS 23.3 ¢

(1%) on FY21

DPS LVR 11.0 cps 25.7% + 5% on FY21

OPERATING CASH FLOW $114.9m

+ 3.5% on June 2021

(17%) on FY21

INVESTMENT PROPERTY $2.1b*

NAV

$3.75

+ 47% on June 2021

+ 24% on June 2021

Key strategy drivers remain intact – ageing population, housing affordability, internal migration patterns and domestic travel support long term demand

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* Includes Joint Venture and Funds.
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Ingenia Lifestyle Hervey Bay, QLD

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Residential communities Resilient rents and high occupancy

• Over FY22, rental sites across Ingenia Lifestyle, Ingenia Rental and Ingenia Gardens increased by 41%

• Cashflows supported by government payments and CPI linked rents

• Communities meet growing demand for housing affordability

• Record demand for affordable rental accommodation

	Lifestyle Rental	Lifestyle Rental	Ingenia Gardens	Total
	Land lease communities catering to over 50s	Affordable rental communities catering to all ages	Seniors rental villages
No. communities	23	9	27	59
No. homes	4,374	1,327	1,437	7,138
Ave rent per week	$197		$354
Rental revenue	$47.4 million		$24.4 million	$71.8m

Artist impression – Ingenia Lifestyle Sunnylake Shores, NSW

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Ingenia Gardens and Ingenia Rental Meeting increasing need for affordable rental accommodation

The need for affordable rentals is significant and growing

Ingenia Rental occupancy currently 99% with strong demand

• Approximately 31% of Australia households rent their home (2019-20) – up from 27% in 1999-00

• The portion of renters renting from private landlords has increased

• Communities in Brisbane, Melbourne and Port Stephens

• Meets need for ‘all age’ rentals at an affordable price point

• Additional accommodation being added to three communities FY23

Ingenia Gardens occupancy currently 95%

• Provides community living with support (optional food and care concierge) for seniors

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Brisbane North Rental Village, QLD
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Percentage of households renting
(2019-20)
50%
45% Ingenia’s
largest market
40%
35%
30%
25%
20%
15%
10%
5%
0%
National NSW Vic QLD SA WA TAS NT ACT
Source: ABS, Housing Occupancy and Costs 2019-20 financial year.
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Ingenia Lifestyle Expanded portfolio with embedded growth

Since entering the sector in 2013 Ingenia has built a leading portfolio

• Additional acquisitions have added scale and enhanced diversity

Diverse price points and affordable weekly rents combined with attractive lifestyle opportunity

• Market awareness building – penetration rate remains low

Development provides pathway to additional scale

  - Opportunity to build sustainable, quality communities

• Strong FY22 operating metrics

• Average rent growth 5% (FY22)

• Settlement of 409 new homes

Gordonvale, QLD

• Residents attracted to engaged community living

• Demonstrating resilient demand – resale and new homes

• Major driver of future growth in rental base

Recently acquired land parcels at Gordonvale (QLD) and Sunbury (VIC) Sunbury, VIC

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Development Aligned to regions benefitting from population growth and net migration

Significant move to regional/coastal markets and QLD driving acquisition strategy

Strong demand from downsizers, supported by affordable price points and migration patterns

		-60,000 -40,000 -20,000 0 20,000 40,000 60,000 Leaving Arriving Moving north Net interstate migration (last 12 months – change to March 22)1 QLD NSW VIC Development Pipeline by State (30 June 2022) NSW VIC NT ACT TAS SA WA QLD	-60,000 -40,000 -20,000 0 20,000 40,000 60,000 Moving north Net interstate migration (last 12 months – change to March 22)1 SW VIC NT ACT TAS SA WA QLD
	0 500 1000 1500 2000 2500 3000 3500 4000 4500	QLD NSW VIC Development Pipeline by State (30 June 2022)

1. Source: Australian Bureau of Statistics, National, state and territory population March 2022

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Market conditions remain challenging Labour availability and weather key to home completions

Consistent availability of trades and extended construction timetables remain key constraint

• ♢ Weather events have exacerbated the impact on construction programs, particularly in Victoria where civil works have been delayed

• ♢ While cost growth is easing and trade availability is anticipated to improve impacts will continue into FY23

• ♢ Ingenia ended FY22 with no inventory – with increased construction times, limited homes have been available to settle year to date

Recent releases demonstrating firm demand

• ♢ Total of 377 deposits and contracts on hand

• ♢ Additional 130 expressions of interest in place

• ♢ Price growth mitigating cost increases

Settlements target reduced in line with uncertain operating conditions and outlook

• ♢ Targeting 460-485 settlements FY23

Note: Settlements target includes Joint Venture settlements.

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Ingenia Lifestyle Hervey Bay, Urangan QLD

URANGAN, QLD

CURRENT DAYS ON MARKET MEDIAN SALE PRICE 17 $548K

+ 55% last 3 years

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185 completed homes 269 development sites

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Ingenia Holidays

Over FY22, income producing sites across Ingenia Holidays increased by 36%

FY22 result reflected strong demand post operating restrictions 1H22 Continued strong performance into FY23 – higher than forecast rate and occupancy supporting outperformance

1. 2H22 compared to pre-COVID performance 2H19 (like for like).

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Balance sheet remains well positioned

Asset recycling aligned to enhancement of portfolio quality and focus on sustainable communities

Capital partnerships contributing to capital needs

Ingenia Lifestyle Freshwater, QLD

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Sustainability – focus aligned to strategy, vision and values Commitment to continuing sector leadership

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Environment

Social

Governance

• Continuing Solar and LED programs

• Sustainable development for new communities – Green Star strategy includes sector leadership in adoption of Green Star Homes

• First detailed emissions disclosures

• Integration of new acquisitions into programs and reporting

• Ranked #1 for women in executive leadership roles across the property industry[1 ] (#3 ASX300 companies)

◊Expanded Diversity and Inclusion policy

• ◊New Giving Policy to increase support to local communities

• Delivering positive social impact for residents – affordable lifestyle and engaged community living

• Human rights assessment to inform further development of sustainable and robust responsible sourcing

• Climate related Resilience and Risk – expanded exposure assessments to recent acquisitions and identified climate transition risks and opportunities in preparation for first TCFD report

• ◊Enhanced disclosure via dedicated Sustainability Report

• Chief Executive Women, Senior Executive Census, 2022.

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Portfolio growth has enhanced the exposure to seniors housing and domestic travel – both performing well FY23 to date

Core businesses resilient, assisted by diverse asset base and revenue streams

Focus on people, systems and process to enhance scale benefits following extensive acquisition program FY22

Positioned to capture accelerating demand for lifestyle-based community living and domestic travel – FY23 impacted by construction challenges and weather events

FY23 result expected to be at lower end of guidance range: Growth in EBIT of 30-35% and underlying EPS growth of 5-10% on FY22

Artist impression - Ingenia Lifestyle Nature’s Edge, QLD

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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 17 November 2022 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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