INGENIA COMMUNITIES GROUP

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LAKESIDE LARA

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FY15 ACHIEVEMENTS: STRATEGY
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˃ Rental yielding assets now 85%
Expansion of cash yielding asset of ex anded ortfolio p p
base ˃ Lifestyle Parks portfolio grown – six assets acquired or contracted
˃ Successful capital raising to fund
Capital initiatives growth
˃ DRP in place ˃ Development underway in nine
Development contribution communities
increased ˃ Settlement of 56 new home sales
Strong financial results and ˃ Distribution per security up 17% increased returns to investors ˃ Underlying profit up 51%

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SECURITY PRICE PERFORMANCE
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Relative Growth of INA versus ASX 300 Property Index (XPK)

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200%
150%
100% INA
XPK
50%
0%
-50%
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INGENIA TODAY
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Ingenia is a leading owner, operator and developer of affordable Retirement, Lifestyle and Leisure Communities

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GROWING LIFESTYLE PARKS PORTFOLIO
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Conjola Lakeside South Coast, NSW

Premier 21 hectare park on the NSW South Coast with significant development upside

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LARGEST OWNER/OPERATOR OF RENTAL VILLAGES
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Brooklyn Gardens, Brookfield, VIC

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SOLID BASE FOR GROWTH
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DELIVERING ON STRATEGY
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Increase focus on cash generating Lifestyle Parks and rental villages now 87% of portfolio portfolios Market leading portfolio of Lifestyle Parks Grow exposure to Lifestyle Parks Development underway at 9 communities FY15 Underlying Profit $17.5 million – up 51% Improve financial performance FY15 distribution per security increased to 1.35 cents - up 17% Rental villages occupancy grown to 90.7% at 30 June 2015 Improve operations Sales momentum building – 56 settlements FY15 (15 settlements FY14) Debt capacity increased to $175 million, terms and margin improved Maintain capacity for growth Funds from equity raising and DRP invested in Lifestyle Parks

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CHANGING BUSINESS MIX
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30 June 2014 asset value[1]

Current asset value[1]

Target allocation

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DMF
DMF Garden 13% Garden Garden Villages
20% Villages ~ 25%
Villages
33%
28%
Continued
$350.0m
$455.0m
growth
NZ
Students
13%
Lifestyle
Parks
Lifestyle ~ 75%
Parks Lifestyle
34% Parks
59% Target
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Cash yielding assets now comprise 87% of total portfolio value
Rental income ~75%
• Development income ~25%
Pro-forma, post announced transactions.

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GROWING PORTFOLIO OF RENTAL COMMUNITIES
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Ingenia has 63 Australian communities and growing

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24 LIFESTYLE PARKS

1,620 permanent sites
593 annual sites

Largest owner/operator of seniors rental villages in Australia

A leading owner, operator and developer of Lifestyle Parks in NSW, Qld and Vic

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1,300 short term sites
1,637 development sites

Growing presence in NSW, SE Qld and Vic Further parks under assessment

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31 RENTAL VILLAGES

1,629 units
Across Australia

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Portfolio now $455 million

8 DMF VILLAGES

838 units
100+ development sites
Non core

Note: Includes additional land at Bethania (to settle April 2016). Development sites include some conversion of existing sites.

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KEY FINANCIALS
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KEY FINANCIALS
KEY FINANCIAL METRICS	30 JUNE 15	30 JUNE 14	CHANGE
Statutory profit	$25.7m	$11.5m	123%
Revenue	$76.0m	$45.8m	66%
Underlying profit1	$17.5m	$11.6m	51%
Operating cashflow	$9.0m	$14.2m	(37%)
Loan to value ratio (LVR)	22.6%	33.9%	33%
Net asset value (NAV) per security	38.9c	35.5c	10%

> Strong result across key financial metrics

Lifestyle Parks now largest revenue contributor
Operating cashflow reflects acceleration of manufactured home development
NAV increase driven by valuation gains across cash yielding assets
Underlying profit is a non-IFRS measure designed to present, in the opinion of the Directors, the results from the ongoing operating activities of INA in a way that reflects underlying performance. Underlying profit excludes items such as unrealised fair gains/(losses), and adjustments arising from the effect of revaluing assets/liabilities (such as derivatives and investment properties). These items are required to be included in Statutory Profit in accordance with Australian Accounting Standards. Underlying profit has not been audited or reviewed by EY.

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UNDERLYING PROFIT GROWING
Lifestyle Parks now key driver of earnings growth
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UNDERLYING PROFIT	JUNE 15 ($m)		JUNE 14 ($m)	JUNE 14 ($m)		All	segments delivered growth in FY15
Continuing operations						Garden Villages
						>	Strong, stable cashflows
• Garden Villages • Active Lifestyle Estates	11.0 8.4		9.9 3.9			> Further organic growth potential Active Lifestyle Estates
• Settlers Lifestyle	6.3		4.5			>	Material growth in development profit
Portfolio EBIT	25.7		18.3			>	Strong recurring rental streams

PORTFOLIO	AV. CAP RATE JUNE 2015	AV. CAP RATE DEC 2014		JUNE 15 BOOK VALUE ($m)	IMPACT ON VALUE	Significant uplift in June 2015 valuations
						>	Valuation uplift driven by market
Garden Villages	10.2%	11.6%		125.7			demand for stable, government
							supported cashflows
Active Lifestyle Estates	9.9%	10.7%		204.2
Settlers Lifestyle1	14.8%	14.7%		62.9
TOTAL				392.8

Represents discount rate.

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CAPITAL MANAGEMENT
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New multibank facility of $175m (up $45.5m) on improved terms and margin > Tenure extended to 3 - 5 year term Debt > All in cost of bank debt now 3.8% > Current LVR within target range of 30 - 35% > Distribution Reinvestment Plan in place Equity > Continue to grow distributions > Significant interest from offshore and REIT investors > Capital recycling via sell down of DMF Funding > DRP to remain in place Growth > Continuing to assess capital partnering opportunities

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PORTFOLIO UPDATE
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White Albatross Holiday Park

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GARDEN VILLAGES
31 seniors rental villages
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Ingenia is the largest owner/operator of seniors rental accommodation in Australia
Improved operational performance through growing occupancy, increasing rents and expanding margins
Recent market transactions at a premium to current Ingenia book values

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Significant organic growth opportunities

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Marsden Gardens, Marsden, Qld p15

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INGENIA CARE ASSIST (ICA)
Empowering our residents
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Facilitated ageing-in-place strategy delivering government funded home care packages to our residents through accredited local care providers
Free service for residents enhancing value proposition and competitive advantage
Catalyst for improving resident tenure and attracting new residents
Launched in our rental villages, being rolled out to lifestyle parks

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No. of ICA Total ICA Villages Residents 35 >300

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SETTLERS VILLAGES (DMF)
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Traditional retirement villages providing accommodation to self-funded retirees
Over 830 units located in WA, QLD and NSW
Portfolio considered non core and looking to divest at value

Portfolio performing well, focus on exiting at value

Recently completed Settlers Ridge Estate, Maitland, NSW

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ACTIVE LIFESTYLE ESTATES (LIFESTYLE PARKS)
Ingenia’s growth focus
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High yielding assets with low risk, capital light development
Finite pool of valuable land zoned for lifestyle and tourist parks in tightly held markets
Fragmented ownership offering considerable consolidation opportunities
Deliver quality seniors housing significantly more affordable than other models

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White Albatross, Nambucca Heads, NSW
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ACTIVE LIFESTYLE ESTATES
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Revenue increasing as business rapidly expands

Strong presence in NSW, expanding in SE Qld and Victoria

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Portfolio quality and scale enhanced

Focus on urban and coastal locations

24 LIFESTYLE PARKS

Focus on creating vibrant and empowering communities

Significant deal flow in place

Assessing 20 communities
1,620 permanent sites
593 annual sites
1,300 short term sites
1,637 development sites

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Portfolio location
(by value)
Coastal,
Metro, 39% 48%
$266m
Regional,
13%
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RECENT ACQUISITIONS - CONJOLA LAKESIDE
South Coast, NSW
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Premier 21 hectare park on the NSW South Coast with significant development upside Acquired September 2015

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RECENT ACQUISITIONS - BETHANIA
Bethania, Qld
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Acquisition of partially developed community with 76 approved sites acquired July 2015 Recently complemented by acquisition of adjacent land

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RECENT ACQUISITIONS - CHAMBERS PINES
Chambers Flat, Qld
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DA lodged for 256 new homes

Approval pending

Immediate development opportunity

10 homes sold, 11 approved and serviced sites

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RECENT ACQUISITIONS - LAKESIDE LARA
Lara, Victoria
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First lifestyle park acquisition in Victoria – situated in an established cluster

56 occupied homes, 13 unsold homes and 164 approved home sites

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TOURISM AND SHORT TERM ACCOMMODATION
Attractive industry fundamentals
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Tourism and short term accommodation market significantly leveraged to

AUD/USD
GDP and consumer sentiment
Ageing of population

Tourism parks income tends to be seasonal not cyclical - lower volatility compared to other accommodation sectors

Caravan and RV registrations steadily increasing in line with ageing population

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2,500 Manufactured Home Estates (MHE)
across Australia
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6% pure MHE
30% mixed use
64% tourism parks
Source: Colliers.
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Caravan Park Establishments
and Revenue
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Limited new supply – no new parks being built and many being converted

Majority of parks in Australia are mixed use or tourism – pure MHE limited, tightly held and often expensive

Significant market opportunity in acquiring existing mixed use parks and converting to MHE

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1,750 1,400
1,700 1,200
1,650 1,000
1,600 800
1,550 600
1,500 400
1,450 200
1,400 0
Establishments (LHS) Revenue ($m) (RHS)
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Source: Caravan Parks and Camping Grounds in Australia April 2015, IBIS WORLD. Caravan and Campervan Data Report August 2014 (BDO).

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TOURISM AND SHORT TERM ACCOMMODATION
Aligned with Ingenia’s focus on affordable seniors living
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Complementary business with significant upside

1. Tourism and short term accommodation provides attractive cashflows, underpinned by strong repeat visitations, and increasing rental and annual residents

2. Annuals represent families or seniors who have purchased their holiday home on Ingenia’s land and pay an annual site rental – huge growth market and similar characteristics to permanent residents

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~600 cabins
590 annuals
~700 sites

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3. Tourism and short term accommodation preserves long-term development optionality for key coastal and metro parks

4. Tourism parks are often first touch point with prospective residents and their families

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TOURISM AND SHORT TERM ACCOMMODATION
Ingenia’s growth and optimisation strategy
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Five pillars to maximising portfolio value

A. Convert low yielding sites to affordable seniors accommodation – attractive development returns and annuity income streams
B. Reposition iconic coastal parks where tourism and short term accommodation represents the highest and best use
C. Increase recurrent income streams with rental and annual residents
Buying back old homes in existing parks and converting to rental accommodation
Creating new ‘family-friendly’ annual accommodation
D. Leverage existing and prospective customer base to drive returns in off-peak and shoulder periods
Gold Card now issued to 1,200 existing residents
E. Invest in our people, systems, technology, infrastructure and industry relationships to become sector leader and maximise securityholder returns

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DEVELOPMENT AND SALES
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DEVELOPMENT AND SALES
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Growing development pipeline in key coastal and metro locations
New large-scale projects secured in Queensland and Victoria
Forecast end sales value exceeding $440 million with attractive embedded margins

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Development Pipeline
TOTAL POTENTIAL
STATE CLASSIFICATION
DEV. SITES
Coastal,
METRO 254 24%
Regional,
21%
NSW COASTAL 356
REGIONAL 387
QLD METRO 463
VIC METRO 177
1,637
Metro, 55%
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BUILDING SALES MOMENTUM
On track to deliver 120 sales FY16
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Achieved 63 new sales (36 settlements) to 16 November 2015
Significant progress made – same time last year 22 sales and 3 settlements
Sales contracts on hand 59

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OUTLOOK
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Optimise performance of existing assets
Continue sales growth as new projects launch to achieve target of 120 sales for FY16
Divest remaining DMF assets to provide additional capital for reinvestment in lifestyle parks
Continue to secure growth in lifestyle parks business through acquisition and development
Deliver growth in distributions

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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 November 2015 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.

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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AI assistant

INGENIA COMMUNITIES GROUP Annual Report 2015

65125_rns_2015-11-16_757770d0-3cf1-44ba-9e2e-1590597656fb.pdf