Vital Healthcare Property Trust · NZX:VHP
Vital Healthcare Property Trust — Non-Deal Roadshow (October 2026)
16 slides from Vital Healthcare Property Trust's roadshow presentation, Oct 8, 2026
Slide 1: Governance Roadshow
Governance Roadshow Board and governance update for institutional investors OCTOBER 2026
Slide 2: What we'll cover today
What we’ll cover today Epworth Eastern Hospital Precinct, VIC Governance progress from July 2025 to September 2026 (FY26 + YTD FY27) Presenters 1 Internalisation From external to internal management: deal, structure and rationale 2 Graham Stuart FY26 Financial Results Numbers behind the transition:
Slide 3: 15 months in Governance
15 months in Governance Transformational period through strengthened governance 52 days ~$20.9m 4 of 6 From internalisation Expected normalised Independent directors on announcement to completion annual savings from the Board today (9 Nov - 31 Dec 2025) internalised management structure +23.5% 2 ove
Slide 4: The deal at a glance
The deal at a glance Announced 9 November 2025 Key Terms: 9 November 2025 Internalisation & $220m raise announced • Management internalised from Northwest Healthcare Properties ManagementLimited1 (‘Northwest’) 14 November 2025 • NZ$214m (plus GST) management termination payment; $190m placement sett
Slide 5: Why it matters for Unit Holders
Why it matters for Unit Holders Direct alignment between management and the trust 1 Cost Efficiency 2 Earnings Accretive ~NZ$20.9m in expected normalised Transaction expected to be accretive to annual savings versus the external Adjusted Funds From Operations (AFFO) management & activity fee structu
Slide 6: FY26 annual results snapshot
FY26 annual results snapshot Essential Healthcare Infrastructure Occupancy remains strong and gearing reduced through active capital refinancing $86.9m Adjusted Funds From Operations (AFFO) – up 23.5% on FY25 98.6% 97.2% 100.0% 9.75 cps 80.0% Full year distribution per unit – maintained on FY25 60.0
Slide 7: Governance and management post-internalisation
Governance and management post- internalisation A direct reporting line from management to an independent Board UNITHOLDERS BOARD OF DIRECTORS Audit & Risk People & Culture Internal Manager Committee Committee Vital Healthcare Properties Chair: Dr. Michael Stanford Chair: Angela Bull Management Ltd
Slide 8: Board Composition
Board Composition Graham Stuart Dr. Michael Stanford AM Angela Bull Independent Chair Independent Director Independent Director Audit & Risk Committee Chair, Audit & Risk Chair, People & Culture Committee Committee Mark Menhennitt Mike Brady Zachary Vaughan Independent Director Northwest Northwest R
Slide 9: Board Committees
Board Committees Two standing committees, each governed by its own charter Audit & Risk Committee People & Culture Committee Financial reporting integrity, external audit, risk management Remuneration, culture, talent and people -related policy and internal controls. across the newlyinternalised tea
Slide 10: Board Renewal and Succession
The independent director count grew from 3 to 4 in September 2026, moving Board Renewal and Succession the Board to an independent majority following internalisation. A steady cadence of refreshment through the internalisation period 1 2 3 21 July 2025 22 August 2025 6 November 2025 Replacement of N
Slide 11: Remuneration Framework - CEO
Remuneration Framework- CEO An independent, performance linked framework established following internalisation Long-term incentive CEO opportunity: 97.5% of fixed remuneration Short-term incentive LTIP has two tranches: CEO opportunity: 35% of TEC 1. Service Rights – 32.5%; Annual cash incentive lin
Slide 12: Remuneration Framework - Director
Remuneration Framework- Director Director remuneration benchmarked Director Remuneration On completion of internalisation, PwC were commissioned to independently benchmark non -executive Director fees Post-internalisation: - Chair $220k per annum - Director $110k per annum +fee for respective commit
Slide 13: Capital governance through the transition
Capital governance through the transition Balance sheet management stayed disciplined while internalisation was executed 1 Debt facilities extended On improved terms and ahead of scheduled maturities:13 May 2026 Updated DRP terms adopted 13 August 2025. Strike prices and allotments disclosed every 2
Slide 14: Risk Management Framework
Risk Management Framework A measured appetite for growth, a low appetite for balance sheet risk FRAMEWORK HIERARCHY – OWNED BY THE BOARD FOUR TIERS – EVERY PARAMETER Strategic Objectives Unitholder outcomes that every risk measure is anchored too 1 Target Hard boundaries set inside Trust Deed and le
Slide 15: Forward Governance Calendar
Forward Governance Calendar Based on the trust’s established reporting cadence November 2026 1 Annual Meeting Q1 -FY27 results and distribution February 2027 Ekera Medical Centre, VIC 2 FY27 half-year results and distribution August 2027 3 Next director nomination process and FY27 full-year results
Slide 16: Key Takeaways
Key Takeaways 1 2 3 Internalisation executed cleanly FY26 results affirm the case Board independence and quickly strengthened Announced and completed within eight AFFO up 23.5% to $86.9m and gearing Four out of six majority are independent, weeks reduced to 39.6% with continued succession planning 4
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