Oceania Healthcare (OCA) investor relations material

Offer and investment highlights

• Up to $100 million in fixed rate, secured, unsubordinated bonds offered, with potential for $25 million in oversubscriptions, maturing July 2032.

• Bonds guaranteed by key group subsidiaries and proceeds to repay bank debt and for general corporate purposes.

• Balanced portfolio of aged care and retirement living assets, with a strong balance sheet and clear growth strategy.

• Gearing at 30.1%, at the low end of the board's target range, with over $200 million in cash and undrawn facilities.

• Dividend paused pending positive operating free cash flow; significant debt reduction achieved.

Business overview and strategy

• Operates 30 sites across New Zealand, with 898 care beds, 1,115 premium care suites, 834 villas, and 1,090 apartments.

• Three core segments: aged care, retirement living, and development, offering a continuum of care.

• Development pipeline of ~1,270 units, with flexibility to adapt to market conditions and staged growth.

• Proven development capability, delivering over 1,670 units since 2017 IPO.

• Strategic focus on maximising occupancy, increasing premium revenue, and expanding in demand markets.

Financial highlights and performance

• Record underlying result for FY26: total comprehensive income of $75.0m, up 0.5% YoY.

• Proforma underlying EBITDA exceeded $97.7m, up 20.2% from FY25.

• Free cash flow from operations improved 64% to ($15.0m), on track to be positive in FY27.

• Net debt reduced by $121m to $507m; gearing decreased to 30.1%.

• Total assets increased to $3.1b, with net tangible assets per share up 7.3% to $1.62.