Ryman Healthcare Ltd. · NZX:RYM
Ryman Healthcare — Investor Day (February 2026)
96 slides from Ryman Healthcare's investor day presentation, Feb 3, 2026
Slide 1: A clear plan to grow value
RYMAN HEALTHCARE A clear plan to grow value Investor Day 2026 3 February 2026
Slide 2: Welcome
Welcome Naomi James, Chief Executive Officer Roger, Patrick Hogan Village
Slide 3: William Sanders Village tour
R Y M A N H E A L T H C A R E | Investor Day 2026 William Sanders Village tour Click here to view video William Sanders Village
Slide 4: Focus of today’s presentation
R Y M A N H E A L T H C A R E | Investor Day 2026 Focus of today’s presentation The purpose of today is to outline our plan to grow value 1. Introduce Ryman's refreshed strategy and financial drivers underpinning it 2. Demonstrate how Ryman will grow recurring earnings from its existing business 3.
Slide 5: Management team
R Y M A N H E A L T H C A R E | Investor Day 2026 Management team New team with the right capabilities and skillset to deliver on refreshed strategy Naomi James Matt Prior Rick Davies Marsha Cadman CHIEF EXECUTIVE CHIEF FINANCIAL CHIEF CUSTOMER CHIEF OPERATING OFFICER OFFICER OFFICER OFFICER Joined:
Slide 6: Agenda
R Y M A N H E A L T H C A R E | Investor Day 2026 2.00pm Welcome and introduction to Ryman Naomi James, Chief Executive Officer Refreshed strategy Agenda Naomi James, Chief Executive Officer The future of aged care and retirement living Cam Ansell, Ansell Strategic Q&A 2.50pm Improving sales effecti
Slide 7: Key takeaways from today
R Y M A N H E A L T H C A R E | Investor InvestorDay Day2026 2026 Key takeaways from today A clear plan to deliver value for shareholders and residents 1. Strategy refresh focuses on growing recurring earnings, portfolio optimisation and value-creating portfolio growth 2. Ryman is uniquely positione
Slide 8: Introduction to Ryman
R Y M A N H E A L T H C A R E | Investor Day 2026 Introduction to Ryman Naomi James, Chief Executive Officer Patrick Hogan Village
Slide 9: A leader in integrated retirement living and aged care
R Y M A N H E A L T H C A R E | Investor Day 2026 Introduction to Ryman A leader in integrated retirement living and aged care High-quality, scalable portfolio with a trusted brand and unique care offering Retirement villages Retirement village units Residents Average age of entry – independent 49 (
Slide 10: Leading the sector in customer ratings
R Y M A N H E A L T H C A R E | Investor Day 2026 Leading the sector in customer ratings Consistently ranked #1 by residents and families Neil and Jessica, Keith Park Village
Slide 11: Continuum of care for our customers
R Y M A N H E A L T H C A R E | Investor Day 2026 Introduction to Ryman Continuum of care for our customers Ryman’s model meets customer needs as they change, with choice, control and community and a home for life Independent living Serviced apartments Aged care Access to wellbeing programmes includ
Slide 12: Continuum of care in our property portfolio
R Y M A N H E A L T H C A R E | Investor Day 2026 Introduction to Ryman Continuum of care in our property portfolio Each village offers a range of independent living, assisted living and aged care options in a single location Independent living Serviced apartments Aged care % of portfolio1 50% 20% 3
Slide 13: Continuum of care and the revenue model
R Y M A N H E A L T H C A R E | Investor Day 2026 Introduction to Ryman Continuum of care and the revenue model Residents pay for accommodation and services through a combination of fees and use of capital; capital gains on property values retained by Ryman Independent living Serviced apartments Age
Slide 14: Flexibility to deliver service across the continuum
R Y M A N H E A L T H C A R E | Investor Day 2026 Introduction to Ryman Flexibility to deliver service across the continuum Ryman can meet changing customer needs across the village and optimise property portfolio and utilisation based on demand One in four RV unit residents receive a Ryman-delivere
Slide 15: Largest retirement living and aged care provider in NZ
R Y M A N H E A L T H C A R E | Investor Day 2026 Introduction to Ryman Largest retirement living and aged care provider in NZ Scale across the full continuum of care with capacity to flex to growing demand Portfolio mix of NZ scale operators1 9,000 8,383 8,000 7,000 8.3% Retirement living penetrati
Slide 16: Established platform and scale in Australia
R Y M A N H E A L T H C A R E | Investor Day 2026 Introduction to Ryman Established platform and scale in Australia Only operator in Victoria with integrated retirement living and aged care at all locations Portfolio mix of Victoria scale operators1,2 6,000 5,000 5.0% Retirement living penetration o
Slide 17: Well positioned in a market with large demographic tailwinds
R Y M A N H E A L T H C A R E | Investor Day 2026 Introduction to Ryman Well positioned in a market with large demographic tailwinds 80+ population, who are most likely to seek integrated independent living and care, set to double by 2050 80+ population (millions) 2.5 2.4 2.4 2.3 2.3 2.2 2.1 2.0 2.0
Slide 18: Key messages – introduction to Ryman
R Y M A N H E A L T H C A R E | Investor InvestorDay Day2026 2026 Introduction to Ryman Key messages – introduction to Ryman Unique strengths, and a portfolio that is difficult to replicate, underpin Ryman’s competitive advantage in a dynamic industry Large, integrated portfolio across New Zealand a
Slide 19: Refreshed strategy
Refreshed strategy Naomi James, Chief Executive Officer Dawn and Julie, Northwood Village
Slide 20: Lessons from the past
R Y M A N H E A L T H C A R E | Investor Day 2026 Refreshed strategy Lessons from the past Refreshed strategy builds on our strengths and addresses key learnings Attributes critical to success Drivers of poor financial performance High-quality integrated RV and care portfolio Weekly fees and DMF lag
Slide 21: Redefining how we create value
R Y M A N H E A L T H C A R E | Investor Day 2026 Refreshed strategy Redefining how we create value Ryman has shifted from a central priority of development to a broader focus on growing high-quality recurring earnings and value-creating portfolio growth From A focus on development To To a focus on
Slide 22: Refreshed strategy
R Y M A N H E A L T H C A R E | Investor Day 2026 Refreshed strategy Refreshed strategy Focused on core elements critical to value creation for our shareholders and residents Our purpose Enhance freedom, connection and wellbeing for people as we grow older Our strategic pillars 1 2 3 4 Be the provid
Slide 23: Multi-year transition to execute the strategy
R Y M A N H E A L T H C A R E | Investor Day 2026 Refreshed strategy Multi-year transition to execute the strategy Near-term focus on growing high-quality recurring earnings and optimising the portfolio for value, to improve cash returns and provide a strong foundation for future portfolio growth Gr
Slide 24: Building Ryman’s future operating model
R Y M A N H E A L T H C A R E | Investor Day 2026 Refreshed strategy Building Ryman’s future operating model Driving customer value, productivity uplift and scalable growth across New Zealand and Australia Process redesign with Ecosystem of partnerships AI-enabled efficiency meeting customer needs O
Slide 25: Key messages – refreshed strategy
R Y M A N H E A L T H C A R E | Investor InvestorDay Day2026 2026 Refreshed strategy Key messages – refreshed strategy Strategy refresh focuses on being the provider of choice in care-centric living, growing recurring earnings, portfolio optimisation and value-creating portfolio growth Strategy refr
Slide 26: The Future of Aged Care and Retirement Living
205 0 The Future of Aged Care and Retirement Living Cam Ansell – Managing Director, Ansell Strategic
Slide 27: The Aged Care Puzzle
The Reform Generational Shift Aged Consumers Care Economics Supply Puzzle Nurses Health Dynamics
Slide 28: Generational Shift
Generational Shift 7,000,000 Australian Population Aged 70+ 6,000,000 5,000,000 Increasing demand 4,000,000 across Australia and 3,000,000 New Zealand. 2,000,000 Changing consumer profiles. 1,000,000 0 2023 2028 2033 2038 2043 2048 Builders Boomers Gen X Source: United Nations 2024; OECD Stat 20
Slide 29: Consumers Today
Consumers Today Builder Generation • Modest and accepting • Less likely to challenge policies or demand reform • Relatively simple expectations of Government Image Source: Brittanica.com, Silent Generation
Slide 30: Consumers Tomorrow
Consumers Tomorrow Baby Boomers • Value autonomy and flexibility • More likely to challenge policies and demand reform • Expect flexibility and personalised services Image Source: Brittanica.com, Baby Boomer Generation; Sixtyandme.com
Slide 31: Consumers Tomorrow
Consumers Tomorrow Baby Boomers and Builders account for less than a 3rd of the population aged 15 years and over Proportion of Population Generation Baby Boomers X, Y and Z and Builders Source: ABS Household Income and Wealth, 201920, Statistics NZ Household Net Worth 2021
Slide 32: Consumers Tomorrow
Consumers Tomorrow However, the Baby Boomers and Builders share the highest proportion of wealth Share of Wealth Generation Baby Boomers X, Y and Z and Builders Source: ABS Household Income and Wealth, 201920, Statistics NZ Household Net Worth 2021
Slide 33: Residential Care Supply
Residential Care Supply Average ARC Residents Projected to Decline as a Proportion of Population 75 + 44,000 9% • Constrained supply Projected NZ ARC Residents 8% exacerbated by limited 42,000 development activity and 7% % NZ Popn. 75+ declining quality of stock. 40,000 6% 5% • Low levels of develop
Slide 34: Home Care Supply
Home Care Supply Support at Home Package Waitlist • Lack of residential care 140,000 supply places pressure on home care. 120,000 • Home Care waitlist continues 100,000 Package Waitlist to increase. 80,000 • People awaiting assessment reaches 113,000 in addition 60,000 to assessed people on waitlist
Slide 35: Health Dynamics - Long Term Care
Health Dynamics - Long Term Care • The proportion of people in long term care across Australia and New Zealand will decrease into the future • Those in residential care will have higher acuity and clinical need 40 England Australia 35 Canada Netherlands Legnth of Stay (months) 30 Norway Sweden Denma
Slide 36: Nurses
Nurses The proportion of nurses caring for the senior population will continue to decline at a time when older people are presenting to care at higher levels of acuity, resulting in the need to pool resource in local areas to meet demand 500,000 160 400,000 140 120 300,000 100 80 200,000 60 100,000
Slide 37: Financial Performance
Financial Performance • Government reform (or lack thereof) is impacting provider financial performance. • More sustainable returns is needed to invest and grow the sector. Australian RAC Financial Performance New Zealand ARC Financial Performance $10,000 $10,000 EBITDA Per Occupied Bed Per Annum $9
Slide 38: Economics
Economics The ratio of working aged people to retirees is declining. The estimated cost of aged care to the average taxpayer will increase significantly over the next 10 years. Older people with the means to do so, will need to contribute more to their care. 6 5.6 5.4 5 4 3.1 3 2.3 2 1 0 2000 2022 2
Slide 39: Reform
Reform Australia is well ahead on aged care reform; New Zealand only just entering the reform phase with the outcomes still unknown. Royal Commission Health New Zealand Aged Care Funding and Services Review New Aged Care Act Parliamentary Health Select Support at Home Program Committee Inq
Slide 40: Where to From Here?
Where to From Aged Retirement Residential Care Living Here? Assisted Living • A continuum of care is the future Home Care for village operators. • Ryman Healthcare is well-placed with their existing model. • Delivering a strong value proposition to the new consumers is key.
Slide 41: Future Projections
Future Projections We project that assisted living will experience the greatest growth in the coming years representing a key area of opportunity for aged care and retirement living providers across Australia and New Zealand. 1,600,000 1,400,000 People Aged 65+ 1,200,000 1,000,000 800,000 600,000 40
Slide 42: Improving sales effectiveness
Improving sales effectiveness Rick Davies, Chief Customer Officer Patrick Hogan Village
Slide 43: Strong occupancy across mature villages
R Y M A N H E A L T H C A R E | Investor Day 2026 Improving sales effectiveness Strong occupancy across mature villages High-quality villages and integrated care underpin strong occupancy across retirement living in mature villages Occupancy1 Independent living Serviced apartments Aged care 94% 96%
Slide 44: Third quarter trading update
R Y M A N H E A L T H C A R E | Investor Day 2026 Improving sales effectiveness Third quarter trading update Sales momentum maintained amid mixed housing market conditions and heightened competition Quarterly sales of ORAs1 • New sales of independent living units eased following the opening of Nelli
Slide 45: Mixed conditions across external property markets
R Y M A N H E A L T H C A R E | Investor Day 2026 Improving sales effectiveness Mixed conditions across external property markets Victoria recovering; some regions improving throughout New Zealand; Auckland remains subdued Median house price1 House sale volumes1 $1.4m 80k $1.2m 70k 60k $1.0m 50k $0.
Slide 46: Optimising our sales strategy
R Y M A N H E A L T H C A R E | Investor Day 2026 Improving sales effectiveness Optimising our sales strategy Adapting to more competitive market conditions with a multi-pronged strategy to lift sales effectiveness Customer acquisition Customer value proposition Highly targeted marketing and Custome
Slide 47: Improving conversion through sales funnel
R Y M A N H E A L T H C A R E | Investor Day 2026 Improving sales effectiveness Improving conversion through sales funnel Harnessing data and insights to enhance performance at each stage of the sales funnel Sales funnel Key metrics • New lead volume and quality Customer enquiry • Lead engagement ac
Slide 48: Disciplined and targeted pricing
R Y M A N H E A L T H C A R E | Investor Day 2026 Improving sales effectiveness Disciplined and targeted pricing Balancing market responsiveness and occupancy with value optimisation Comprehensive pricing framework and rules embedded into sales process Village segmentation to optimise sales and mark
Slide 49: Closing the gap between resales and turnover
R Y M A N H E A L T H C A R E | Investor Day 2026 Improving sales effectiveness Closing the gap between resales and turnover Driving resales to exceed turnover, reduce stock, and release cash • Turnover will increase as the portfolio Resales vs turnover 400 matures, presenting a significant opportun
Slide 50: Step change in DMF and weekly fees
R Y M A N H E A L T H C A R E | Investor Day 2026 Improving sales effectiveness Step change in DMF and weekly fees Significant value unlock from new contract terms – expect around half of portfolio rolled onto new DMF terms by FY29 Independent living unit weekly fees1 Average DMF on incoming residen
Slide 51: Opportunity to increase utilisation of serviced apartments
R Y M A N H E A L T H C A R E | Investor Day 2026 Improving sales effectiveness Opportunity to increase utilisation of serviced apartments Vacant stock and turnover provides opportunity to optimise product offering Unit vacancy (%) 43% 22% 15% 13% 8% 6% Independent units Serviced apartments All unit
Slide 52: Potential to evolve serviced apartment offering
R Y M A N H E A L T H C A R E | Investor Day 2026 Improving sales effectiveness Potential to evolve serviced apartment offering Offering greater customer choice, meeting growing demand, and driving occupancy Independent living Serviced apartments Aged care Predominantly 1-bedroom with fixed set of s
Slide 53: Opportunity to release cash from stock
R Y M A N H E A L T H C A R E | Investor Day 2026 Improving sales effectiveness Opportunity to release cash from stock Combined $800 million cash opportunity lies within new sales and paid-out resales stock Retirement village unit stock 1,335 Resales stock 317 with previous resident not yet repaid $
Slide 54: Key messages – improving sales effectiveness
R Y M A N H E A L T H C A R E | Investor InvestorDay Day2026 2026 Improving sales effectiveness Key messages – improving sales effectiveness Reset in contract terms, optimising our value proposition, and improving sales effectiveness will increase near-term cash flow and long-term value Broad range
Slide 55: Operational excellence
R Y M A N H E A L T H C A R E | Investor Day 2026 Operational excellence Marsha Cadman, Chief Operating Officer Natasha and Ivon, Bert Sutcliffe Village
Slide 56: An overview of operational excellence
R Y M A N H E A L T H C A R E | Investor Day 2026 Operational excellence An overview of operational excellence Building on Ryman’s differentiators to unlock full potential from the business Maintain and reinforce Opportunities to reach full potential Sustained high occupancy in mature High-quality c
Slide 57: Strong occupancy across mature care centres
R Y M A N H E A L T H C A R E | Investor Day 2026 Operational excellence Strong occupancy across mature care centres High-quality portfolio and clinical care offering key to maintaining high occupancy in mature care centres and growing occupancy in developing care centres Occupancy1 Independent livi
Slide 58: Opportunity for increased care occupancy
R Y M A N H E A L T H C A R E | Investor Day 2026 Operational excellence Opportunity for increased care occupancy Achieving mature village occupancy at our developing care centres will generate $26 million recurring revenue • Significant revenue opportunity from Opportunity from filling bed capacity
Slide 59: Care premium opportunity in New Zealand
R Y M A N H E A L T H C A R E | Investor Day 2026 Operational excellence Care premium opportunity in New Zealand Sustainable increase in accommodation premiums supported by rising shortage of aged care capacity and underpinned by quality of offering and brand position • Significant growth in 1H26 wi
Slide 60: Strong RAD growth in Australia
R Y M A N H E A L T H C A R E | Investor Day 2026 Operational excellence Strong RAD growth in Australia RAD growth in Australia driven by strong demand and refreshed pricing framework • Average RAD balances are up Average RAD balances in Australia (AUD) 5% year-on-year, supported by incoming residen
Slide 61: Increasing flexibility in payment choices
R Y M A N H E A L T H C A R E | Investor Day 2026 Operational excellence Increasing flexibility in payment choices New ‘Resident fund’ product in New Zealand provides residents with choice and streamlines the move into aged care • Genuine continuum of care, with Resident fund capital following the r
Slide 62: Ongoing focus on cost discipline and efficiency
R Y M A N H E A L T H C A R E | Investor Day 2026 Operational excellence Ongoing focus on cost discipline and efficiency Targeting enterprise-wide cost efficiencies across support functions, procurement, and operations Lower cost structure Centralised purchasing Village operating efficiencies in sup
Slide 63: Aged care reforms
R Y M A N H E A L T H C A R E | Investor Day 2026 Operational excellence Aged care reforms Australian reforms now in effect; New Zealand review underway with recommendations due before 2026 election – New Zealand well positioned to move quickly, leveraging Australian experience Australia – major ref
Slide 64: Generating a sustainable margin on aged care
R Y M A N H E A L T H C A R E | Investor Day 2026 Operational excellence Generating a sustainable margin on aged care Target to lift aged care EBITDAF per bed from ~$15k currently to $25–30k by FY29 Performance of aged care operations in Average EBITDAF per bed 1H26 significantly below sustainable l
Slide 65: Industry-leading resident experience
R Y M A N H E A L T H C A R E | Investor Day 2026 Industry-leading resident experience Janice, Nellie Melba Village
Slide 66: Key messages – operational excellence
R Y M A N H E A L T H C A R E | Investor InvestorDay Day2026 2026 Operational excellence Key messages – operational excellence Focused on operational excellence to unlock the full potential of the existing business High-quality care, resident experience and workforce engagement at the centre of our
Slide 67: Disciplined portfolio growth
Disciplined portfolio growth Naomi James, Chief Executive Officer Bert Newton Village
Slide 68: Pursuing the best opportunities for portfolio growth
R Y M A N H E A L T H C A R E | Investor Day 2026 Disciplined portfolio growth Pursuing the best opportunities for portfolio growth Ryman has a broad range of options to grow its portfolio in line with market demand Developing villages Brownfield Greenfield M&A Portfolio of future village Untapped o
Slide 69: Developing villages
R Y M A N H E A L T H C A R E | Investor Day 2026 Disciplined portfolio growth Developing villages Uncommitted stages across land bank in developing villages to be phased in line with demand • Established sites with known market Developing village land bank demand Under Main building RV unit constru
Slide 70: Brownfield development
R Y M A N H E A L T H C A R E | Investor Day 2026 Disciplined portfolio growth Brownfield development Opportunities within the existing portfolio to deliver better risk-adjusted returns • Leverage established care and village infrastructure with capacity • to support additional residents Target vill
Slide 71: Grace Joel – potential redevelopment opportunity
R Y M A N H E A L T H C A R E | Investor Day 2026 Disciplined portfolio growth Grace Joel – potential redevelopment opportunity Unique location with proven demand, capacity to leverage existing community and care facilities and higher-value use of land Existing village and market Potential opportuni
Slide 72: Greenfield land bank review complete
R Y M A N H E A L T H C A R E | Investor Day 2026 Disciplined portfolio growth Greenfield land bank review complete Six high quality sites retained for potential future development • Land bank review based on revised feasibility framework, including: $194 million 27 hectares 60% − Demographics and h
Slide 73: Releasing capital for future growth
R Y M A N H E A L T H C A R E | Investor Day 2026 Disciplined portfolio growth Releasing capital for future growth Targeting at least $200 million in proceeds from land bank divestments; $110 million contracted to date Contracted sales releasing $110 million Further opportunities for cash release Mt
Slide 74: Essendon – potential greenfield opportunity
R Y M A N H E A L T H C A R E | Investor Day 2026 Disciplined portfolio growth Essendon – potential greenfield opportunity Central location with low competition, supportive house pricing and strong demand Market Potential opportunity Location Strong transport connectivity and proximity to Land 29,44
Slide 75: Optionality across the portfolio for growth
R Y M A N H E A L T H C A R E | Investor Day 2026 Disciplined portfolio growth Optionality across the portfolio for growth Over 2,500 units/beds in uncommitted developments, with flexibility to build in line with demand Uncommitted stages Mature village land bank1 Retained greenfield opportunities a
Slide 76: Key messages – disciplined portfolio growth
R Y M A N H E A L T H C A R E | Investor InvestorDay Day2026 2026 Disciplined portfolio growth Key messages – disciplined portfolio growth Significant portfolio optionality for development growth with reduced capital intensity Ryman land bank provides significant optionality for portfolio growth wit
Slide 77: Refreshed capital management
Refreshed capital management Matt Prior, Chief Financial Officer Deborah Cheetham Village
Slide 78: Recap on how Ryman generates a return
R Y M A N H E A L T H C A R E | Investor Day 2026 Refreshed capital management Recap on how Ryman generates a return Recurring earnings and capital gains underpin shareholder returns Retirement living Aged care Recurring earnings from daily and • Base weekly fees for accommodation • Base daily fees
Slide 79: New capital management framework
R Y M A N H E A L T H C A R E | Investor Day 2026 Refreshed capital management New capital management framework Prudent, resilient capital settings with a lower gearing range that reflects leverage from resident funding and a cash-based dividend Funding sources Bond Bank Resident Equity Retirement l
Slide 80: Balance sheet reset complete
R Y M A N H E A L T H C A R E | Investor Day 2026 Refreshed capital management Balance sheet reset complete Resilient and flexible balance sheet with lower cost debt, capacity for growth and long debt tenor Debt facility maturity profile1 ($m) 1,322 $535+ million Debt headroom1 798 710 599 578 507 4
Slide 81: Focused on operating cash flow improvement
R Y M A N H E A L T H C A R E | Investor Day 2026 Refreshed capital management Focused on operating cash flow improvement Targeting $150 million in sustainable CFEO improvement by FY29 through growing occupancy, reset pricing, and cost efficiencies Targeted CFEO improvement across identified categor
Slide 82: Multiple levers to unlock cash release
R Y M A N H E A L T H C A R E | Investor Day 2026 Refreshed capital management Multiple levers to unlock cash release Targeting $500 million cash release by FY291 from new stock, paid-out resale stock and land sales Cash release opportunities $470 million $330 million $200 million New sales stock Pa
Slide 83: Near-term deleveraging from cash release
R Y M A N H E A L T H C A R E | Investor Day 2026 Refreshed capital management Near-term deleveraging from cash release Reduced vacant stock and payouts and land bank divestments expected to drive deleveraging and build capacity for growth or return cash to shareholders Indicative gearing1 35% 30% 2
Slide 84: Equity holders strongly leveraged to value movements
R Y M A N H E A L T H C A R E | Investor Day 2026 Refreshed capital management Equity holders strongly leveraged to value movements Optimising our $12 billion asset base for capital gains offers significant upside to equity holders Balance sheet ($b) $12.1 billion 0.2 Total asset value – potential f
Slide 85: Dividend payout backed by operating cash flow
R Y M A N H E A L T H C A R E | Investor Day 2026 Refreshed capital management Dividend payout backed by operating cash flow Cash flow from existing operations (CFEO) reflects recurring cash flows which can be distributed or reinvested in the business Recurring cash flows Village operations Resale o
Slide 86: Capital allocation to grow total shareholder returns
R Y M A N H E A L T H C A R E | Investor Day 2026 Refreshed capital management Capital allocation to grow total shareholder returns Capital management framework provides for both sustainable dividends and optionality for debt reduction, reinvestment or portfolio growth Optionality within capital man
Slide 87: Key messages – refreshed capital management
R Y M A N H E A L T H C A R E | Investor InvestorDay Day2026 2026 Refreshed capital management Key messages – refreshed capital management Clear capital management framework and reset balance sheet to underpin return to dividends and growth in shareholder returns Balance sheet reset complete with lo
Slide 88: Wrap up
Wrap up Naomi James, Chief Executive Officer Priya and Margaret, Bruce McLaren Village
Slide 89: Refreshed strategy – focus in FY27
R Y M A N H E A L T H C A R E | Investor Day 2026 Wrap up Refreshed strategy – focus in FY27 1 2 3 4 Be the provider of choice Grow recurring earnings Optimise existing portfolio Value-creating portfolio growth • Maintain and improve • Grow occupancy in • Grow resales to exceed • Release cash from n
Slide 90: Key takeaways from today
R Y M A N H E A L T H C A R E | Investor InvestorDay Day2026 2026 Wrap up Key takeaways from today A clear plan to deliver value for shareholders and residents 1. Strategy refresh focuses on growing recurring earnings, portfolio optimisation and value-creating portfolio growth 2. Ryman is uniquely p
Slide 91: Board perspective
R Y M A N H E A L T H C A R E | Investor Day 2026 Board perspective Dean Hamilton, Chair Maria and Alfred, Miriam Corban Village
Slide 92: Board of Directors
R Y M A N H E A L T H C A R E | Investor Day 2026 Board perspectives Board of Directors New independent Board Dean Hamilton Kate Munnings James Miller Paula Jeffs CHAIR INDEPENDENT DIRECTOR INDEPENDENT DIRECTOR INDEPENDENT DIRECTOR Joined: June 2023 Joined: November 2023 Joined: June 2023 Joined: No
Slide 93: Board areas of focus reflecting strategic priorities
R Y M A N H E A L T H C A R E | Investor Day 2026 Board perspectives Board areas of focus reflecting strategic priorities Shift from short-term tactical priorities to long-term strategic oversight building value for stakeholders 1. Maintain industry-leading customer satisfaction and brand reputation
Slide 94: Glossary
R Y M A N H E A L T H C A R E | Investor Day 2026 Glossary Term Definition AU Australia Brownfield land Unused or underutilised land inside an existing village that is capable of being developed Capex (non-GAAP) Capital expenditure (capex) refers to capital expenditure to acquire, upgrade, maintain
Slide 95: Glossary
R Y M A N H E A L T H C A R E | Investor Day 2026 Glossary Term Definition NTA Net tangible assets. Calculated as total assets less intangible assets and deferred tax assets, and less total liabilities NZ New Zealand An occupation right agreement within the meaning of the Retirement Villages Act 200
Slide 96: Disclaimer
R Y M A N H E A L T H C A R E | Investor Day 2026 Disclaimer The information in this presentation has been prepared by Ryman Healthcare Limited and includes general background information about Ryman’s activities. This information is given in summary form and does not purport to be complete. Informa