INGENIA COMMUNITIES GROUP — Interim / Quarterly Report 2016

Feb 22, 2016

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MASTER PLAN

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WATT STREET
ENTRY
BOAT & CARAVAN PARKING 29 27 25 23 21 19 17 16 15 14 13 233 231 229 227 225 223 222 221 220 219 169 168 166 164 162 161 160 159
BLUEBELL STREET SUN ROSE STREET
33 31 30 28 26 24 22 20 18 10 PARKING OfficeSales DisplayArden2 232 230 228 224 217 218 163 158
3474 3532 3637 38 39 CATMINT APPROACH40 41 42 43 9 8 DisplayAcland7 SpencerDisplayDisplayCollins53 SwanstonDisplayDisplayChapel46 208 209 212 226 214 215 216 176 174 170 171 167 165150 152 154 157156
DAMPIERA 172
178
75 73 60 59 58 57 44 213 180 173 148 155
211 182 175 146 153
76 72 62 61 56 55 45 210 144 151
LAKE 182
177 142 149
77 71 64 BOWLINGGREEN 184 179 147
63 54 53 46
CLUBHOUSE 140
78 70 66 65 52 51 47 COURTSTENNIS 185 181 138 143 145
79 186 136 141
69 68 67 50 49 48 PARKING 134
187 139
80
FAN FLOWER DRIVE DAMPIERA BOULEVARD 188 132 137
130
81 135
207 206 205 204 203 202 201 200 199 198 197 196 195 194 193 192 191 190 189 128 133
82
131
86 88 90 92 94 96 98 100 102 104 106 108 110 112 114 116 118 120 122
83 129
ROYAL MANTEL ROAD 127
84 126
87 89 91 93 95 97 99 101 103 105 107 109 111 113 115 117 119 121 123 124 125
85 The Company gives no warranty or makes any
representations about the accuracy of the information
BOULEVARD
DUSKY BELL PLACE
PAPER DAISY DRIVE
DAHLIA AVENUE
WORK SHOP BLUEBELL STREET DAMPIERA
BUGLE FLOWER ST BOULEVARD
SEA PINK WAY
MARIGOLD VIEW
STONECROP AVENUE AFRICAN DAISY PLACE
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The Company gives no warranty or makes any representations about the accuracy of the information or representations made. Illustrations are representative only of the designs and to be used as a guide only. Future residential development is subject to relevant approvals. The information is provided solely as general information and the final product may differ from what is displayed.

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GARDEN VILLAGES

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Garden Villages

The Garden Villages Portfolio provides affordable rental accommodation, delivering stable, Government supported cashflows

Ingenia’s management team is focused on ensuring residents enjoy life in connected, engaged communities. Ingenia Care Assist, a free service, is a key part of this commitment

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Ingenia’s focus is growing returns through occupancy gains, rental growth and margin enhancement

At 31 December 2015, the Garden Villages Portfolio of 31 Villages had a book value of $130.3 million

www.gardenvillages.com.au

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Portfolio overview

Total 1H16 revenue $13.8 million

	31 December 2015	31 December 2014
Total properties Total units Av. weekly rent1 Occupancy1	31	34
	1,629	1,801
	$313	$305
	89.6%	88.3%

Garden Villages snapshot

• Total resident meals served daily 2,100

• Average resident tenure 2.9 years

• 90% occupancy

• Like for like - excludes three villages sold June 2015.

GARDEN VILLAGES PROVIDE ATTRACTIVE COMMUNITY SPACES

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Marsden Gardens, Marsden
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Portfolio statistics

GV Site Numbers

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Asset Value Occupancy Occupancy
31 December 31 December 31 December
Property Location 2015 ($m) Total Units 2015 2014
Western Australia
Swan View Gardens Swan View 7.2 72 92% 100%
Seville Grove Gardens Seville Grove 3.9 45 98% 100%
Ocean Grove Gardens Mandurah 3.7 45 100% 100%
Yakamia Gardens Yakamia 4.9 57 86% 88%
Sea Scape Gardens Erskine 4.7 51 100% 100%
Carey Park Gardens Bunbury 4.4 51 92% 90%
Total / Average – WA 28.8 321 94% 96%
Queensland
Marsden Gardens Marsden 8.5 96 92% 87%
Jefferis Gardens Bundaberg North 4.3 51 88% 86%
Total / Average – QLD 12.8 147 91% 86%
Tasmania
Glenorchy Gardens Glenorchy 3.8 42 98% 100%
Elphinwood Gardens Launceston 3.8 55 93% 75%
Claremont Gardens Claremont 3.3 51 86% 75%
Devonport Gardens Devonport 1.7 51 55% 61%
Launceston Gardens Launceston 3.5 55 93% 86%
Total / Average – TAS 16.1 254 85% 78%
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GV Site Numbers

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Asset Value Occupancy Occupancy
31 December 31 December 31 December
Property Location 2015 ($m) Total Units 2015 2014
New South Wales
Wagga Gardens Wagga Wagga 4.3 50 88% 94%
Wheelers Gardens Dubbo 4.9 52 100% 100%
Taloumbi Gardens Coffs Harbour 4.9 50 98% 100%
Chatsbury Gardens Goulburn 3.6 49 100% 96%
Oxley Gardens Port Macquarie 4.2 45 100% 96%
Dubbo Gardens Dubbo 3.5 55 73% 67%
Taree Gardens Taree 3.3 51 69% 73%
Peel River Gardens Tamworth 4.3 51 96% 84%
Bathurst Gardens Bathurst 4.1 53 89% 79%
Total / Average – NSW 37.1 456 90% 87%
Victoria
Grovedale Gardens Grovedale 4.8 51 98% 92%
St Albans Park Gardens St Albans Park 5.0 53 98% 100%
Townsend Gardens St Albans Park 4.2 50 98% 100%
Sovereign Gardens Sebastopol 3.2 51 82% 94%
Hertford Gardens Sebastopol 3.7 48 81% 90%
Coburns Gardens Brookfield 3.9 51 86% 86%
Horsham Gardens Horsham 4.0 47 77% 85%
Brooklyn Gardens Brookfield 4.2 51 94% 94%
Warrnambool Gardens Warrnambool 2.7 49 82% 65%
Total / Average – VIC 35.7 451 89% 90%
Total / Average – Garden Villages 130.3 1,629 89.6% 88.3%
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Note: Capitalisation rates range from 9.0% to 12.0%

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BATHURST GARDENS – Bathurst, NSW Bathurst Gardens is located in the regional city of Bathurst, a few hours west of Sydney. The location offers the best of country life combined with modern conveniences and facilities. The Village offers close proximity to retail and recreational facilities and is a short walk to medical services, with public transport approximately 100 metres away.

Acquired January 2014 Title Freehold Site area 7,000 sqm Total units 53 Occupancy 89%

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BROOKLYN GARDENS – Brookfield, VIC Brooklyn Gardens is located in Brookfield, a suburb within Melton, offering a balance of rural-urban lifestyle. There are a range of activities and services in Melton including Country Club, Bowling Club and Mens Shed. The Village is well located with close proximity to transport, providing access to a range of medical, retail and leisure facilities.

Acquired June 2004 Title Freehold Site area 6,355 sqm Total units 51 Occupancy 82%

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CAREY PARK GARDENS – Bunbury, WA

The port city of Bunbury, home to Carey Park Gardens, is one of the largest cities in Western Australia. Bunbury is a thriving cultural centre and the Village offers easy access to a range of recreation facilities, as well as essential services such as medical services and a shopping centre.

Acquired June 2004 Title Freehold Site area 5,690 sqm Total units 51 Occupancy 92%

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CHATSBURY GARDENS – Goulburn, NSW Chatsbury Gardens is located in Goulburn, a regional city in the southern tablelands of NSW, approximately 100 kilometres from Canberra. The Village has public transport within an easy walk and is in close proximity to shopping, medical and entertainment facilities.

Acquired June 2004 Title Freehold Site area 6,040 sqm Total units 49 Occupancy 100%

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CLAREMONT GARDENS – Claremont, TAS Claremont Gardens is located in Claremont, part of the greater Hobart area on the Derwent River, and home to four of the major golf clubs in the Hobart region. The Village has easy access to a Chemist and RSL Club with a local shopping centre, bowls club and medical facilities nearby.

Acquired June 2004 Title Freehold Site area 6,830 sqm Total units 51 Occupancy 86%

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COBURNS GARDENS – Brookfield, VIC Neighbour to nearby Brooklyn Gardens, Coburns Gardens is located in the suburb of Brookfield in Melton, approximately 35 kilometres west of Melbourne’s CBD. The location provides easy access to Melbourne via rail or car as well as proximity to a range of local services and facilities.

Acquired June 2004 Title Freehold Site area 6,355 sqm Total units 51 Occupancy 86%

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DEVONPORT GARDENS – Devonport, TAS Situated in Devonport, in the north of Tasmania, at the mouth of the Mersey River, Devonport Gardens is central to local shopping precincts with good access to public transport and a range of recreational facilities.

Acquired June 2004 Title Freehold Site area 6,290 sqm Total units 51 Occupancy 55%

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DUBBO GARDENS – Dubbo, NSW

Dubbo Gardens is well located in the regional town of Dubbo, with public transport only metres away. Offerring easy access to medical, retail, and recreational facilities, the Village includes a communal library and community centre within well maintained gardens.

Acquired December 2012 Title Freehold Site area 6,300 sqm Total units 55 Occupancy 73%

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ELPHINWOOD GARDENS – Launceston, TAS

Elphinwood Gardens is located in Launceston, one of Tasmania’s oldest and largest cities. With easy access to transport and a range of facilities, including medical services, sporting and recreation clubs and shopping, the Village provides a convenient location for seniors .

Acquired June 2004 Title Freehold Site area 6,330 sqm Total units 55 Occupancy 93%

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GLENORCHY GARDENS – Glenorchy, TAS Located in the Northern suburbs of Hobart and nestled beside the Derwent River, Glenorchy is home to many facilities. The Village provides easy access to public transport and is in close proximity to local clubs and medical and retail services.

Acquired	June 2005
Title	Freehold
Site area	4,780 sqm
Total units	42
Occupancy	98%

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GROVEDALE GARDENS – Grovedale, VIC Situated in Grovedale, Geelong, Grovedale Gardens offers access to a range of attractions found in the Geelong region ranging from beaches to bush, historic townships to modern retail precincts. A well populated region, Geelong is approximately 75 kilometres from Melbourne located on Corio Bay and the Barwon River.

Acquired	June 2005
Title	Freehold
Site area	6,590 sqm
Total units	51
Occupancy	98%

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HERTFORD GARDENS – Sebastopol, VIC

Hertford Gardens is located in Sebastopol, on the urban rural fringe of Ballarat. Sebastopol includes walking trails, botanic gardens and wildlife experiences, providing a range of activities in a scenic location. Public transport is at the gate, allowing convenient access to a range of services, including local bus, shopping and medical services.

Acquired June 2004 Title Freehold Site area 4,790 sqm Total units 48 Occupancy 81%

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HORSHAM GARDENS – Horsham, VIC

Horsham Gardens is located in the regional city of Horsham, part of the Wimmera region of Victoria, approximately 300 kilometres northwest of Melbourne. Located close to the River and with convenient access to public transport, the Village provides an easy lifestyle with proximity to medical, leisure and retail services.

Acquired June 2004 Title Freehold Site area 4,560 sqm Total units 47 Occupancy 77%

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JEFFERIS GARDENS – Bundaberg North, QLD

Located in the thriving regional city of Bundaberg on the Burnett River, Jefferis Gardens is located approximately 385 kilometres from Brisbane, just inland from the coast. Bundaberg proves a warm climate and an abundance of shopping centres, sporting clubs and local attractions. With public transport just outside, the Village is well located with easy access to key services and facilities.

Acquired June 2004 Title Freehold Site area 7,320 sqm Total units 51 Occupancy 88%

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LAUNCESTON GARDENS – Launceston, TAS

Located only 600 metres away from Elphinwood Gardens, Launceston Gardens is located in the historic Tasmanian city of Launceston. With access to social activities and health services, the Village is also in close proximity to transport and a range of services including Post Office, Library and shopping centre.

Acquired	January 2014
Title	Freehold
Site area	6,464 sqm
Total units	55
Occupancy	93%

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MARSDEN GARDENS – Marsden, QLD

Marsden Gardens is a large village offering close to 100 rental units, located in the city of Logan. The Village is located close to shopping, health facilities and sporting clubs and is an easy walk to public transport. Facilities include a library, dining room, community laundry and beautiful gardens.

Acquired June 2005 Title Freehold Site area 12,000 sqm Total units 96 Occupancy 92%

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OCEAN GROVE GARDENS – Mandurah, WA

Ocean Grove Gardens is situated in the suburb of Erskine, Mandurah, in close proximity to Seascape Gardens, which is located within the same suburb. With close proximity to parkland and with a shopping centre less than a kilometre away, Ocean Grove Gardens provides a convenient location with good access to essential health services and a range of leisure facilities.

Acquired February 2013 Title Freehold Site area 7,501 sqm Total units 45 Occupancy 100%

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OXLEY GARDENS – Port Macquarie, NSW

Located on the mid north coast of NSW, approximately 400 kilometres north of Sydney and 570 kilometres south of Brisbane, in Port Macquarie, Oxley Gardens provides a coastal lifestyle. The Village has easy access to beaches and heritage walking trails as well as retail and medical facilities.

Acquired June 2004 Title Freehold Site area 5,100 sqm Total units 45 Occupancy 100%

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PEEL RIVER GARDENS – North Tamworth, NSW

Peel River Gardens is located in Tamworth, the major regional centre for the New England region of NSW, approximately 500 kilometres north of Sydney and 600 kilometres south of Brisbane. With public transport at the gate, the Village provides easy access to a range of facilities within this large regional town.

Acquired March 2013 Title Freehold Site area 6,900 sqm Total units 51 Occupancy 96%

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SEASCAPE GARDENS – Erskine, WA

Seascape Gardens is located in the suburb of Erskine, Mandurah. Mandurah is a vibrant regional Western Australian city with access to a beautiful coastline, perfect for fishing or relaxing. With public transport only 20 metres away the Village provides a convenient location with access to services in close proximity to Ocean Grove Gardens.

Acquired June 2004 Title Freehold Site area 6,545 sqm Total units 51 Occupancy 100%

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SEVILLE GROVE GARDENS – Seville Grove, WA

Seville Grove Gardens is situated in a quiet cul de sac, just south of Armadale city centre. A growing regional centre, Armadale combines a scenic environment with city conveniences. Public transport is at the door and with only 100 metres to medical facilities and easy access to shopping, post office and the public library, Seville Grove Gardens is well located.

Acquired June 2004 Title Freehold Site area 5,275 sqm Total units 45 Occupancy 98%

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SOVEREIGN GARDENS – Sebastopol, VIC

Situated approximately 4 kilometres from the town centre, in Sebastopol, Ballarat, Sovereign Gardens is a well located Village within scenic surrounds. In addition to providing easy access to a range of services and facilities, the Village is close to the Hertford Gardens, which is also in Sebastopol.

Acquired June 2013 Title Freehold Site area 6,000 sqm Total units 51 Occupancy 82%

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ST ALBANS PARK GARDENS - St Albans Park, VIC

St Albans Park is an eastern region of Geelong, bounded by the Barwon River, with both access to parkland and the CBD. With close proximity to transport and a range of facilities, including medical, retail and leisure facilities, St Albans Park Gardens provides a convenient location within a well populated region.

Acquired June 2004 Title Freehold Site area 8,290 sqm Total units 53 Occupancy 98%

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SWAN VIEW GARDENS – Swan View, WA

Swan View Gardens is located in the Perth suburb of Swan View, only minutes from the Perth Hills and John Forrest National Park. Providing rural beauty within walking distance to local shopping, this large village is conveniently located.

Acquired January 2006 Title Freehold Site area 8,030 sqm Total units 72 Occupancy 92%

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TALOUMBI GARDENS – Coffs Harbour, NSW

Located in the popular holiday destination of Coffs Harbour, Taloumbi Gardens is nestled between a high mountain backdrop and beautiful coastlines. The Village’s location provides easy access to retail, medical and recreation facilities. Transport at the door and close proximity to beaches and parklands add to the attraction of the Village’s location.

Acquired June 2004 Title Freehold Site area 6,160 sqm Total units 50 Occupancy 98%

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TAREE GARDENS – Taree, NSW

Located on the mid north coast of NSW, on the Manning River, Taree Gardens provides a rural lifestyle. The Village sits on over 9,000 sqm of land, surrounded by farmland, but is within walking distance to a bowls club and golf course and has public transport at the front gate, providing easy access to a range of local facilities and services.

Acquired December 2004 Title Freehold Site area 9,390 sqm Total units 51 Occupancy 69%

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TOWNSEND GARDENS – St Albans Park, VIC

Townsend Gardens is located in St Albans Park, a suburb of Geelong which is also home to St Albans Park Gardens. The Village provides a convenient location within close proximity to key facilities and services.

Acquired June 2004 Title Freehold Site area 8,290 sqm Total units 50 Occupancy 98%

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WHEELERS GARDENS – Dubbo, NSW

Wheelers Gardens is located in the regional town of Dubbo. Wheelers Gardens is located in close proximity to key amenities and facilities, with public transport within metres of the Village. Frequent food and wine shows, art exhibits and markets mean that there is always something for residents to do.

Acquired June 2004 Title Freehold Site area 6,280 sqm Total units 52 Occupancy 100%

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WAGGA GARDENS – Wagga Wagga, NSW Wagga Gardens is located in Wagga Wagga, the largest inland city in NSW. Situated on the Murrumbidgee River, the city is approximately half way between Sydney and Melbourne. The Village is located close to public transport with access to medical, retail and recreation facilities.

Acquired June 2013 Title Freehold Site area 5,900 sqm Total units 50 Occupancy 88%

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WARRNAMBOOL GARDENS – Warrnambool, VIC

Warrnambool Gardens is situated in Warrnambool, just 12 kilometres from the Western end of Victoria’s Great Ocean Road on the south-western coast of Victoria. The location offers a range of beaches at the city’s doorstep. Golf, shopping, bowls as well as medical facilities and a public library and RSL Club are all available in Warrnambool.

Acquired January 2014 Title Freehold Site area 6,000 sqm Total units 49 Occupancy 82%

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YAKAMIA GARDENS – Yakamia, WA

Yakamia Gardens is located in Yakamia, an inner suburb of the port city Albany, approximately 400 kilometres from Perth. Albany is home to a range of natural attractions and is also a popular arts centre. Yakamia Gardens is located within walking distance of shopping and public transport in an area offering a range of leisure activities including bowling and bridge.

Acquired June 2004 Title Freehold Site area 7,300 sqm Total units 57 Occupancy 86%

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SETTLERS LIFESTYLE

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Settlers Lifestyle

Ingenia’s Settlers Villages provide traditional retirement living for selffunded retirees

Ingenia has delivered significant development sales across the portfolio, supplementing deferred management fee and capital gain earnings

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Ingenia’s focus is on maximising returns whilst seeking to exit the portfolio at an appropriate value

At 31 December 2015 the Settlers Portfolio comprises 8 villages with a book value of $64.6 million

www.settlerslifestyle.com.au

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Portfolio overview

Development Portfolio

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31 December 31 December
2015 2014
New unit settlements 14 21
Average price ($’000) 154 214
Contracted and reserved 17 24
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Settlers snapshot

• Average resident tenure 7.3 years

• 96% occupancy

Established Portfolio

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31 December 31 December
2015 2014
Established unit turnover 4 20
Average resale price ($,000) 316 311
Average DMF collected on exit
51 65
($’000)
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SETTLERS VILLAGES PROVIDE INDEPENDENT LIVING WITH A RANGE OF ACTIVITIES AND SERVICES

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Portfolio statistics

Settlers Site Numbers

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Asset Value Occupancy Occupancy
31 December 31 December 31 December
Property Location 2015 ($m) Total Units 2015 2014
Ridgewood Rise Ridgewood, WA 19.8 240 100% 100%
Gladstone South Gladstone, QLD 3.3 56 96% 96%
Lakeside Ravenswood, WA 20.0 243 98% 98%
Rockhampton [1] Rockhampton, QLD 3.7 74 91% 85%
Cessnock [1] Cessnock, NSW 3.2 39 97% 97%
Meadow Springs Mandurah, WA 5.7 56 96% 95%
Ridge Estate [1] Gillieston Heights, NSW 4.3 44 73% 66%
Forest Lake [1] Forest Lake, QLD 4.9 86 94% 77%
TOTAL / AVERAGE – SETTLERS VILLAGES 64.6 838 96% 93%
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1 Occupancy impacted by new development and addition of conversion homes.

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Sales

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Meadow Ridgewood Ridge Forest
Lakeside Springs Rise Cessnock Estate Rockhampton Lake Gladstone Total
6 months to 31 December 2015
No. of new sales – – – 4 – 2 8 – 14
Average new sales prices – – – 151 – 145 158 – 154
($’000)
No. of resales 2 – 5 – – 2 3 – 12
Average resale prices 298 – 412 – – 193 222 – 309
($’000)
DMF collected on exit 170 – 356 – – 30 56 – 611
($’000)
Average resident tenure on exit 10.1 – 6.6 – – 2.6 3 – 5.5
(yrs)
As at 31 December 2015
Units available for sale 5 2 - 1 12 7 5 2 34
Occupancy (%)1 98% 96% 100% 97% 73% 91% 94% 96% 96%
Average resident entry age (yrs) 68 68 70 74 72 73 73 73 70
Average resident age (yrs) 78 76 76 76 74 75 75 76 77
Average resident tenure (yrs) 10.1 8.6 7.8 1.7 2.6 2.6 1.7 3.3 7.3
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1 Occupancy for traditional DMF Villages includes units which may not be physically occupied but contractually subject to DMF fees.

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SETTLERS CESSNOCK – Cessnock, NSW

Settlers Cessnock is located in the Hunter Region of NSW, around 50 kilometres from Newcastle and only 30 kilometres from Maitland. The Village is a short walk to public transport and has easy access to local shopping, medical and leisure facilities. Facilities include a community centre, undercover parking, community garden and BBQ area.

Asset Strategy

Originally part of the Garden Villages portfolio, Settlers Cessnock is in the process of conversion to DMF. The Village has further development opportunity on adjacent land.

Acquired June 2004 Title Freehold Total unites 39 Occupancy 97%

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SETTLERS FOREST LAKE – Forest Lake, QLD Settlers Forest Lake is a masterplanned Delfin community set around a lake and ringed by picturesque walking tracks. The Village is approximately 30 kilometres from the Brisbane CBD and has easy access to the city via public transport. Facilities include beautiful landscaped gardens, a community centre, undercover parking, community garden and BBQ area.

Asset Strategy

Ingenia’s focus is on selling the remaining conversion stock of Independent Living Units. Further value will be derived from future Deferred Management Fees.

Acquired November 2005 Title Freehold Total unites 86 Occupancy 94%

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SETTLERS GLADSTONE – Gladstone, QLD

Settlers Gladstone is located in South Gladstone, 100 kilometres south-east of Rockhampton, surrounded by beautiful coastline, rural lands and national parks. The Village provides a coastal lifestyle close to amenities and the water. Facilities include a community centre, undercover parking, community garden and BBQ area.

Asset Strategy

Ingenia has largely completed the conversion of the Village from rental to DMF, with only 2 units remaining. Further opportunity exists on adjacent vacant land.

Acquired November 2005 Title Freehold Total unites 56 Occupancy 96%

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Settlers Gladstone, QLD
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Meadow Springs, WA
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SETTLERS LAKESIDE VILLAGE – Ravenswood, WA

Settlers Lakeside Village is located in the Peel Region, minutes from the city of Mandurah and heritage town of Pinjarra. The Village is close to town in a peaceful rural setting. Facilities include a pool, bowling green, gym, tennis court and a library. In addition the Village includes a community centre, community garden, men’s shed, BBQ area and consultation rooms.

Asset Strategy

Settlers Lakeside is a stable Village which is continuing to mature. Growing DMF fees are expected as the WA residential market recovers.

Acquired April 2007 Title Freehold Total unites 243 Occupancy 98%

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SETTLERS MEADOW SPRINGS – Mandurah, WA

Settlers Meadow Springs is located just minutes from the coastal city of Mandurah, with its beautiful foreshore and coastline. The Village adjoins the Meadow Springs Golf and Country Club and is within easy walking distance to local shopping. Facilities include a community centre, pool, tennis court, bowling green, BBQ area, community garden and consulting rooms as well as a gymnasium, library, lounge and dining room.

Asset Strategy

Development opportunity remains on adjacent land adjoining the local golf course. This land has the potential to accommodate a further 60 Independent Living Units.

Acquired April 2007 Title Freehold Total unites 56 Occupancy 96%

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SETTLERS RIDGE ESTATE – Gillieston Heights, NSW

Settlers Ridge Estate is located in the Hunter Valley Region. The Village includes 44 homes, with the final stages of the Village complete in late 2014. The Village is minutes from the Maitland CBD and only 35 kilometres from Newcastle, set within a rural environment. Facilities include a community centre, undercover parking, community garden, bowling green and BBQ area.

Asset Strategy

Development of the Village has been completed with 12 units remaining from Stages 2 and 3. Further value will be derived from future Deferred Management Fees.

Acquired July 2012 Title Freehold Total unites 44 Occupancy 73%

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SETTLERS RIDGEWOOD RISE – Ridgewood, WA

Settlers Ridgewood Rise is situated just 40 minutes north of Perth, within close proximity of the coastline and the Mindarie Keys Marina. The Village is close to public transport with medical and retail facilities nearby. Facilities include community centre, indoor pool, gym, men’s shed, library, consultation rooms, community garden, BBQ area and bowling green.

Asset Strategy

Ridgewood Rise is a large scale village that is continuing to mature with growing DMF fees expected as the WA residential market recovers.

Acquired April 2007 Title Freehold Total unites 240 Occupancy 100%

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SETTLERS ROCKHAMPTON – Rockhampton, QLD

Settlers Rockhampton is located in Rockhampton, a city on the banks of the Fitzroy River approximately 600 kilometres north of Brisbane. Rockhampton has extensive shopping, sporting and social clubs. Facilities include a community centre, undercover parking, community garden and BBQ area.

Asset Strategy

Ingenia has largely completed the conversion of the Village from rental to DMF. Further opportunity exists on adjacent vacant land.

Acquired November 2005 Title Freehold Total unites 74 Occupancy 91%

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Ridgewood Rise, WA
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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 23 February 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.

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.

The forward looking statements included in this presentation involve subjective judgment and analysis and are subject to

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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.