INGENIA COMMUNITIES GROUP — Interim / Quarterly Report 2016

Apr 25, 2016

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LAKESIDE LARA[Ingenia Communities Group]

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OUR BUSINESS
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Ingenia is a leading owner, operator and developer of affordable, Lifestyle, Retirement and Leisure Communities

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INGENIA’S PORTFOLIO IS DOMINATED
BY SENIORS RENTAL COMMUNITIES
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Ingenia has
Australian
communities
65 and growing
Portfolio now
NT
million 8
$480
9 QLD
WA
SA
LIFESTYLE
33
26 PARKS
NSW
RENTAL
31 VILLAGES
10
DMF
VIC
8 VILLAGES
5
TAS
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PERFORMANCE SNAPSHOT (1H16 RESULTS)
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BIG4 L ~~ake Conjola, NSW~~

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1H16 RESULTS: HIGHLIGHTS
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Rental yielding asset base now 75% of portfolio Well advanced with divestment of DMF portfolio STRATEGY Portfolio of Lifestyle Parks increased to 25 parks – acquisitions in high quality metro and coastal markets Quality pipeline of acquisition opportunities in place Underlying Profit from continuing operations $8.4 million – up 40% on 1H15 FINANCIAL Operating cashflows strong at $11.8 million – up 157% on 1H15 Distribution per security 4.2 cents - up 7.7% on 1H15 Rapid increase in Lifestyle Parks rental revenue – up 83% on 1H15 OPERATIONS Sales momentum building with 58 settlements in 1H16 - 8 settlements 1H15 Development now underway in 10 communities DEVELOPMENT Pipeline now exceeds 1,600 sites (77% in metro and coastal locations)

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Supplemented by growth in development returns

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31 DEC 2015 ASSET TARGET ASSET
ALLOCATION ALLOCATION
14% 28% ~25% ~75% 84%
DMF Rental Villages Rental Villages TARGET DEC 15
Rental earnings Rental
earnings
Continued
$462.6M
growth
TARGET
~25% 16%
~75%
58%
TARGET DEC 15
Lifestyle Parks Lifestyle Parks
Development Development
earnings earnings
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Note: Rental and development earnings represent EBIT.

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1H16 RESULTS: KEY FINANCIALS
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KEY FINANCIAL METRICS	1H16	1H15	CHANGE	CHANGE	•	Significant increase inunderlying
Statutory profit1	$10.8m	($1.0m)	NM			andstatutory profitunderpinned by significant EBIT contribution from
Revenue Underlying profit – continuingoperations2 Underlying profit EPS – continuingoperations	$52.2m $8.4m 5.7c	$28.7m $6.0m 4.7c	82% 40% 21%		• •	Lifestyle Parks Lifestyle Parks key driver ofrevenue with rapid development momentum and increasing rental base Operating cashflowstrong, driven
Distribution per security	4.2c	3.9c	8%			by growth in manufactured home settlements (up 157%)
Operating cashflow	$11.8m Dec 15	$4.6m Jun 15	157%		•	Distributionup 7.7% - committed to future growth
					•	Core ICRincrease driven by
Loan to value ratio (LVR)	32.4%	22.6%	9.8%			increased EBITDA due to expanded asset base and strong contribution
Core interest cover ratio (ICR)	3.37x	2.68x	26%			from short-term rental
Net asset value (NAV) per security	$2.36	$2.34	1%

1. 1H16 statutory profit includes $3.9 million fair value write-off of acquisition transaction costs.

2. 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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BUSINESS UPDATE
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South West Rocks, NSW p8

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OPERATING BUSINESS
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Operating business delivering strong performance

• Strong performance from the Group’s tourism business with increased occupancy and revenue per occupied room driving revenue growth

• Garden Villages – stable occupancy (88%) and increased rents supporting strong cashflows

• Settlers portfolio – 11 new settlements to date in 2H16

Further growth of lifestyle parks portfolio

• Seven acquisitions year to date with 620 permanent home sites

• Acquisition of BIG4 Broulee Beach complete March 2016

• Additional 7.1 hectares of land acquired adjacent to Bethania (ability to develop 100+ sites, subject to approvals)

• 27 settlements to date 2H16; total of 85 settlements year to date

DMF divestment continuing to progress

• Negotiations with global investment and asset management group are progressing

• Transaction expected to release significant capital for reinvestment through creation of stand alone vehicle

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SALES MOMENTUM CONTINUING
On track to deliver 120 sales FY16
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Settlement of 85 homes worth $25 million[1] year to date

Contracts on hand for 53 homes

Average gross development profit[2] of $83,000 per home

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27
41
53
39
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Contracts on Net Sales Settlements to Contracts on Hand at 31 Dec to 22 April 2016 Hand at 2015 22 April 2016 22 April 2016

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1. Excludes GST.

1. Average gross development profit represents sales price (excluding GST) less cost of the manufactured home (including installation).

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PORTFOLIO OVERVIEW

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GARDEN VILLAGES (SENIORS RENTAL)
31 seniors rental villages
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• Ingenia is the largest owner/operator of seniors rental accommodation in Australia

• Over 1,600 units

• Affordable rental accommodation with modest facilities coupled with services and activities

Significant organic growth opportunities

Taree Gardens, Taree, NSW

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GARDEN VILLAGES
Organic growth opportunity
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• Existing portfolio of 31 villages ($130.3 million) is core

• Generates $24 million in rental income annually

• Strong demand – no new supply

• Portfolio value increasing – operating performance and growing market recognition

Typical Single unit

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ACTIVE LIFESTYLE ESTATES (LIFESTYLE PARKS)
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Active Lifestyle Estates, Ettalong Beach, Ettalong Beach, NSW p14

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RAPID GROWTH IN LIFESTYLE PARKS
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• Ingenia has rapidly built a significant lifestyle parks business with a focus on key metropolitan and coastal locations

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26 LIFESTYLE PARKS

• Since an initial investment in 2013, Ingenia has built a $285 million portfolio

3,700 INCOME PRODUCING SITES 1,600 DEVELOPMENT SITES

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Portfolio location
(by value)
Metro
37% Coastal
50%
Regional
13%
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Development Pipeline
(number of sites)
Regional
23% Metro
56%
Coastal
21%
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Waterfront Cabins at Conjola Lakeside, NSW South Coast p16

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RECENT ACQUISITIONS
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CONJOLA LAKESIDE

Established 21 hectare coastal site with significant development potential

Potential for 210 additional sites (75 approved) Cost per site

Income producing sites ~$54,000 Additional potential sites ~$17,000

Land approved for 75 sites

Licensed club

Golf course

Vacant cabin sites

Boat storage

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RECENT ACQUISITIONS
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Acquired October 2015 for $16.3 million

Pure manufactured home community

Build ready partially developed community with $3.5 million facilities in place and 164 approved sites

Cost per site Inventory ~$154,000 Income producing sites ~$61,000 DA approved sites ~$67,000

~$154,000

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RECENT ACQUISITIONS
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Acquired July 2015 for $8.15 million

Pure manufactured home community (Bris. metro)

Build ready partially developed community with facilities in place and 86 approved sites

Adjacent land acquired April 2016 – 115 sites (STA) Cost per site

Income producing sites DA approved sites Adjacent land

~$65,000

~$54,000

~$29,000

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RECENT ACQUISITIONS
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Acquired March 2015 for $17.6 million

Pure manufactured home community (Bris. metro) Includes all age rental community Recent approval for additional 256 sites on golf course land – work to commence Sept 2016 Cost per site

DA approved sites

~$17,000

OUTLOOK

► Optimise performance of existing assets

• Complete DMF divestment to recycle capital into additional lifestyle parks

• Continue sales growth as new projects launch to achieve target of 120 sales for FY16

• Secure future growth in lifestyle parks business through acquisition and development of established and greenfield assets in attractive locations

• Targeting future growth in distributions

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CONTACT INFORMATION
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SIMON OWEN CEO & Managing Director Tel: +61 2 8263 0501 Mob: +61 412 389 339 sowen@ingeniacommunities.com.au

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DONNA BYRNE

Group Investor Relations Manager Tel: +61 2 8263 0507 Mob: +61 401 711 542 dbyrne@ingeniacommunities.com.au

INGENIA COMMUNITIES GROUP Level 9, 115 Pitt Street Sydney NSW 2000 www.ingeniacommunities.com.au

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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 April 2016 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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