Lifestyle Communities Ltd · ASX:LIC
Lifestyle Communities — 1HFY26 Earnings Presentation
37 slides from Lifestyle Communities's earnings presentation, Feb 19, 2026
Slide 1: Results Presentation for the half year ended 31 December 2025
Results Presentation for the half year ended 31 December 2025
Slide 2: Contents
Contents Appendix Our purpose . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 A1 Model of living. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 A2 Portfolio snap
Slide 3: Our purpose
Our purpose We reimagine a Way to Live for independent downsizers. We develop and manage architecturally designed low maintenance homes, together with resort-style communities, that allow downsizers to free up equity from their previous home, and live the life they want. Our approach revives the spi
Slide 4: Results snapshot
Section 01 Results snapshot Ridgelea
Slide 5: Business snapshot 1HFY26
Results snapshot 5 Business snapshot 1HFY26 25 4,256 Communities Homes under in operation management (Portfolio + pipeline 5,750) $15.8m $41.2m Statutory profit Operating cash flows 110 128 Net new home sales New home settlements $323.6m $898.1m Net debt Investment properties Woodlea Lifestyle Commu
Slide 6: 1HFY26 results snapshot
Results snapshot 6 1HFY26 results Double digit growth in sales as snapshot refreshed strategy embeds Key metrics Measure 1HFY24 2HFY24 1HFY25 2HFY25 1HFY26 • Net sales from new homes improved materially from New home settlements Homes 124 187 137 131 128 the prior period, up 168% from 1HFY25 (110 v
Slide 7: Property market update
Results snapshot 7 Property market update The Victorian property market Change in dwelling values to end of December 2025 has shown signs of improvement Past month Past 3 months Past 12 months however still lags national trends Australia 0.7% 2.9% 8.6% Combined regionals 1.0% 3.5% 9.7% • The value o
Slide 8: Business update
Section 02 Business update Riverfield
Slide 9: Strategy recap
Business update 9 Strategy recap Our renewed company strategy reflects an evolution of purpose—‘Reimagining the way to live for independent downsizers.’ It is brought to life through 3 strategic pillars: • Be the Go-to-Choice for Downsizers – We’re committed to mastering both sides of the sales proc
Slide 10: Translating our operating pillars to value
Business update 10 Translating our operating pillars to value Homeowner Experience Our focus is on delivering a truly outstanding homeowner Way to live of improving our operating margins to drive the value of the Lifestyle Communities® annuity book. We reimagine a for independent downsizers Developm
Slide 11: Way to Live: Homeowner Experience
Business update Way to live 11 Way to Live: Homeowner Experience We reimagine a for independent downsizers Way to Way to build grow Way to operate As part of our homeowner centred CSAT score across all communities operating philosophy, we continue to work 79 Commenced new engagement in closer partne
Slide 12: Way to Grow: DMF model for existing homeowners
Business update Way to live 12 Way to Grow: DMF model for We reimagine a existing homeowners for independent downsizers Way to Way to build grow Way to operate As previously announced we will offer all existing homeowners the choice to move to a DMF calculated on purchase price (New DMF Model) once
Slide 13: Way to Grow: Introduction of choice and expanded market opportunity
Business update Way to live 13 Way to Grow: Introduction of choice We reimagine a and expanded market opportunity for independent downsizers Way to Way to build grow Way to operate Management Fee Choose when you pay your Management Fee No exit fee option OPTION 1 OPTION 2 Customers can now choose wh
Slide 14: Way to Build: Development pipeline
Business update Way to live 14 Way to Build: Development pipeline We reimagine a for independent downsizers Way to Way to build grow Way to operate Status update on developments in progress Total pipeline of homes remaining No. of % 1HFY26 300 Developing communities Future communities 254 Community
Slide 15: Way to Operate: Debt facility restructure
Business update Way to live 15 Way to Operate: Debt facility restructure We reimagine a for independent downsizers Way to Way to build grow Debt facility restructure Way to operate • Debt facilities restructured and right-sized to $375.0m providing ongoing funding flexibility for the Group’s operati
Slide 16: Business performance
Section 03 Business performance Ridgelea
Slide 17: New home sales performance
Business performance 17 New home sales performance Net sales 41 98 110 70 60 60 50 48 50 50 40 30 21 20 15 20 10 0 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY261 Note: 1 As at 16 February 2026 • Following a recovery in sales in the second half of FY25, 1HFY26 new home sales rates showed si
Slide 18: Resales performance
Business performance 18 Resales performance 1HFY26 2HFY25 1HFY25 2HFY24 1HFY24 Established sales No. of resales settlements 1 No. of settlements 83 57 58 76 75 120 98 Average tenure resales settlements 1 Years 6.9 6.7 7.7 7.0 7.2 100 Average DMF rate 2 % of resale price 19% 17% 17% 17% 18% 78 80 70
Slide 19: Inventory optimisation
Business performance 19 Inventory optimisation Continued reduction in unsold homes since 30 June 2025, with ongoing reduction planned in 2HFY26 30-Jun-25 31-Dec-25 Completed Completed Homes No. completed Homes in Homes carrying No. completed Homes in carrying value homes that are progress but value
Slide 20: Growing annuity income stream
Business performance 20 Growing annuity income stream Our strategy is to sustainably Home sites under management 1 grow the number of homes under 4,500 4,256 management with annuity income 3,997 generated from: 4,000 3,673 3,500 3,334 Site rental fees 2,958 • $228 per single and $263 per couple, per
Slide 21: Financial Results
Section 04 Financial Results
Slide 22: Income statement
Financial Results 22 Income statement Site rental increased by 11.9% in 1HFY26 compared $000s 1HFY24 2HFY24 1HFY25 2HFY25 1HFY26 to 1HFY25 due to increased homes under Community operations management (1HFY26: 4,256 vs 1HFY25: 3,997) and Site rental 20,487 20,949 22,597 23,108 25,281 inflation linked
Slide 23: Fair value adjustments
Financial Results 23 Fair value adjustments Pre-tax • The fair value adjustment typically comprises three Reconciliation of operating fair value adjustment to components: statutory fair value adjustment (pre-tax) 1HFY24 2HFY24 1HFY25 2HFY25 1HFY26 1. The value uplift created when a customer settles
Slide 24: Balance sheet
Financial Results 24 Balance sheet Balance sheet highlights $000s Dec-24 Jun-24 Dec-25 Jun-25 Dec-25 Cash balance higher at Dec-25 due to timing of debt repayments during refinance period Cash and cash on deposit 1,839 4,095 1,496 2,473 29,410 Quarantined Funds – – – – 3,571 Quarantined Funds relate
Slide 25: Cash flow
Financial Results 25 Cash flow Operating cash flow positive despite lower settlements in 1HFY26 Net annuity cash flows: $m 1HFY24 2HFY24 1HFY25 2HFY25 1HFY26 Community operations cash flows • 11.9% increase in site rentals from 1HFY25 due to greater Site rentals 20.5 20.9 22.6 23.1 25.3 number of ho
Slide 26: Outlook
Section 05 . [ifestule Outlook Communities”
Slide 27: Outlook
Outlook 27 Outlook We continue to execute in FY26 against a clear plan with the right team in place. We are focused on execution and positioning the business for the next New home settlements pipeline status development cycle. As at 16 February 2026 we have: New Strategy: execution is well underway
Slide 28: Appendix
[fst A ppendix Communiti unities”
Slide 29: A1 Model of living
Appendix 29 A1 Model of living How does the Lifestyle Communities model of living work? Homeowners at Lifestyle Communities own their own home and lease the land upon which their homes are located, via a weekly site fee and a management fee. 80% On average, homes typically priced at 80% – 90% of the
Slide 30: A2 Portfolio snapshot 1HFY26
Appendix 30 A2 Portfolio snapshot 1HFY26 Homes occupied or sold and awaiting settlement Total homes Homes sold Homes sold and Communities in communities and occupied awaiting settlement No. % Established Communities 16 fully completed Communities 3,063 3,063 – 3,063 100% Developing Communities Wolle
Slide 31: A3 Sales and settlements
Appendix 31 A3 Sales and settlements New homes Resales Settled Settled Net sales Net sales Settled Settled 1HFY26 1HFY25 1HFY26 1HFY25 1HFY26 1HFY25 Established Communities - Sold out 79 57 Developing Communities Wollert 7 11 4 2 Deanside 13 5 16 3 3 St Leonards - The Waves 1 St Leonards - The Shore
Slide 32: A4 Sales rates profile
Appendix 32 A4 Sales rates profile Sales profile from date of first sale 280 Meridian Historical (Sep-21) average Wollert (Mar-19) 240 Deanside (Oct-19) 200 Bellarine Riverfield (Sep-22) (Feb-23) 160 Sales 120 Phillip Island (Nov-22) Ridgelea (Jun-23) 80 Woodlea (Sep-21) 40 St Leonards - The Shores
Slide 33: A5 Key debt metrics
Appendix 33 A5 Key debt metrics Subsequent Event: The details on this page represent Key debt metrics the debt position as at 31 December 2025. In January 1HFY26 2HFY25 1HFY25 2HFY24 1HFY24 2026 the debt facility restructuring was completed. Gross assets $m 1,220,167 1,315,167 1,578,050 1,511,630 1,
Slide 34: A6 Reconciliation of statutory profit to operating profit
Appendix 34 A6 Reconciliation of statutory profit to operating profit $m 1HFY26 2HFY25 1HFY25 2HFY24 Statutory profit/(loss) before tax 13.5 (278.8) 32.6 71.5 (Less) / add back fair value movements as a result of VCAT (5.2) 193.5 Add back DMF provision for repayment - 77.8 Add back one-off non-repea
Slide 35: A7 Cash flow analysis 1HFY26
Appendix 35 A7 Cash flow analysis 1HFY26 Ocean Completed Wollert St Leonards Clyde Phillip Grove Communities Communities3 North Deanside - The Shores Ridgelea Meridian Riverfield Woodlea Island Bellarine Merrifield 2.0 Yarrawonga in planning 4 Total Community operations cash flows Site rentals 18.3
Slide 36: A8 Cash flow analysis 1HFY25
Appendix 36 A8 Cash flow analysis 1HFY25 Completed St Leonards Clyde Phillip Ocean Communities Communities3 Wollert Deanside - The Shores Ridgelea Meridian Riverfield Woodlea Island Bellarine Merrifield Grove 2.0 Yarrawonga in planning 4 Total Community operations cash flows Site rentals 17.7 1.3 1.
Slide 37: Important notice and disclaimer
37 Important notice and disclaimer This Presentation contains information about Lifestyle Communities® Limited (LIC) and its activities which is current at 31 December 2025, unless otherwise stated. The information in this Presentation is in summary form and does not purport to be complete. It shoul