Oceania Healthcare Ltd. · NZX:OCA
Oceania Healthcare — Debt Investor Presentation (June 2026)
37 slides from Oceania Healthcare's debt investor presentation, June 2026
Slide 1: Bond Presentation
Bond Presentation Investor Presentation June 2026 Joint Lead Managers
Slide 2: Disclaimer
Disclaimer Please read the following carefully before continuing with the remainder of this presentation This presentation has been prepared by Oceania Healthcare Limited (Oceania or the Issuer) in This presentation contains certain projections or forward-looking statements with respect to the relat
Slide 3: Agenda
Agenda Offer and Investment Highlights 4 Business Overview and Strategy 6 Financial Highlights 13 Funding and Security Structure 18 Offer Terms and Timetable 24 Appendices 28 The Helier 3
Slide 4: Offer highlights
Offer highlights Retail Bond Offer Details Issuer Oceania Healthcare Limited (Oceania) Description Fixed rate, secured, unsubordinated bonds Payments on the Bonds are guaranteed by Oceania Village Company Limited, Oceania Care Company Limited and Oceania Group Guarantee (NZ) Limited under a guarante
Slide 5: Investment highlights
Investment highlights Balanced portfolio, strengthened balance sheet, and clear growth pathway • Balanced portfolio of aged care and retirement living • Strong balance sheet with total assets of $3.1b, assets and continuous portfolio refinement comprising $2.9b of property assets • Track record of u
Slide 6: Business Overview and Strategy
Business Overview and Strategy The Helier, Auckland 6
Slide 7: Leading provider of aged care and retirement village services
Leading provider of aged care and retirement village services Oceania has a balanced and diversified portfolio that is well placed to respond to aged care and retirement living trends Oceania composition as at 31 March 2026 30 sites across New Zealand 898 care beds and 1,115 premium care suites 834
Slide 8: Operational overview
Operational overview Oceania offers residents a continuum of care, with operations falling under three key segments 1 2 Operating Segment AGED CARE RETIREMENT LIVING Provision of a high standard of residential aged care services in standard Manage portfolio of independent living Core operations Oper
Slide 9: Operational overview (continued)
Operational overview (continued) Oceania offers residents a continuum of care, with operations falling under three key segments 3 Operating Segment DEVELOPMENT Brownfield and greenfield development of integrated retirement living and aged care sites. Core operations • Proven development capability,
Slide 10: Recently completed developments
Recently completed developments Oceania has completed the development of five major projects over the last two years Franklin Meadowbank Stage 1 Stage 6 Auckland Auckland Completed in Completed in January 2026 June 2025 31 40 Villas & Care Suites Community Centre Elmwood Awatere Waterford Auckland H
Slide 11: Development activity
Development activity1 On track to complete 81 units expected across 3 sites in FY27, generating full recovery of development cost from sell down FY27 Development Delivery – 81 units 2H27 Franklin (stage 2) – 28 ILU Elmwood – 30 ILU Bream Bay – 23 ILU New villas – in 2H27 Conversion of villas and New
Slide 12: Future development activity
Future development activity1 Flexibility in pipeline to develop to market conditions with a mix of premium, high density and broadacre options AUCKLAND TAURANGA Lady Allum, Milford The Helier, St Heliers The Bayview, Tauranga • 90 Apartments & 113 Care Suites • 78 Apartments & 32 Care Suites • 31 Vi
Slide 13: Financial Highlights
Financial Highlights The Sands, Auckland 13
Slide 14: Track record of financial performance
Track record of financial performance Strong performance improvement delivered with execution of FY2026 strategic priorities Operating Revenue NZ$m Proforma Underlying EBITDA1 NZ$m Care Underlying EBITDA1 per Occupied Bed NZ$ 265.5 267.1 Care EBITDA per occupied bed 27,232 260.6 247.2 97.7 231.1 Car
Slide 15: Overview of FY26 strategic outcomes
Overview of FY26 strategic outcomes 1. Sales Performance 2. Business Excellence 3. Capital Management ✓ Record sales volumes: FY26 up ✓ Record care profitability: Care ✓ Portfolio balanced: 7 sites divested at 16% to 603 units, 27% YoY increase Underlying EBITDA including capital or around carrying
Slide 16: Summary of FY26 financial performance
Summary of FY26 financial performance Oceania reported a record underlying result for the financial year ended 31 March 2026 Financial Highlights Total Comprehensive Record Sales Proforma Underlying Free Cash Flow Income Volume EBITDA1,3 from Operations2,3 $75.0m 603 units $97.7m ($15.0m) Increase o
Slide 17: Strategic objectives
Strategic objectives Against a backdrop of geopolitical pressures, a subdued property market, and construction cost inflation, our strategic objectives aim to maintain momentum and drive long-term success FY27 FY27-FY28 FY28 & beyond ❑ Further sell down unsold and bought- ❑ Resume dividend payments
Slide 18: Funding and Security Structure
Funding and Security Structure Meadowbank, Auckland 18
Slide 19: Financial position as at March 2026
Financial position as at 31 March 2026 FY26 reflected a significant focus on further strengthening the balance sheet, reducing net debt by $121 million Oceania uses debt to fund Net debt NZ$m and gearing as at 31 March • Redevelopment of existing brownfield sites 700 38.3% 36.3% 45.0% 600 36.9% 40.0
Slide 20: Balance Sheet funding profile
Balance Sheet funding profile Capital structure is well diversified across bank facilities and retail bonds, with flexibility to support disciplined future growth Bank facilities as at 31 March 2026 are $500m, plus existing $225m of retail bonds Expected maturity profile (post completion of offer) N
Slide 21: The Issuer and Guaranteeing Group
The Issuer and Guaranteeing Group Listed entity Oceania Healthcare Limited is the issuer, and the guaranteeing group includes entities owning and operating the care centres and retirement villages in the Group Security held by the Security Trustee (for the benefit of Bondholders and bank lenders)1 •
Slide 22: Security
Security The Bonds share the security provided by Oceania and the Guarantors on an equal ranking basis with Oceania’s bank lenders as provided by Oceania’s security trust deed • Total assets as at 31 March 2026 of $3.1b, including investment Financial Position as at 31 March 2026 NZ$m3 property and
Slide 23: Covenants
Covenants Significant headroom on the loan to value ratio (LVR) covenant • Key terms of the bond LVR include Loan to Valuation Ratio (LVR) ‒ LVR must not exceed 50%; 50% ‒ If there is a breach of the LVR then 38.8% 37.8% 40% o Oceania must, within 6 months of the date of a semi-annual compliance rep
Slide 24: Offer Terms and Timetable
Offer Terms and Timetable Elmwood, Auckland 24
Slide 25: Key terms of the offer
Key terms of the offer Retail Bond Offer Details Issuer Oceania Healthcare Limited Description of the Bonds Fixed rate, secured, unsubordinated bonds Payments on the Bonds are guaranteed by Oceania Village Company Limited, Oceania Care Company Limited and Oceania Group (NZ) Guarantee Limited under a
Slide 26: Key terms of the offer
Key terms of the offer Oceania agrees to ensure that, on each Semi-annual Test Date1, the total principal amount of financial indebtedness secured under the Financial Covenant (Loan to Valuation Ratio) Global Security Deed is not more than 50% of the valuation of all properties owned by Oceania and
Slide 27: Key dates of the offer
Key dates of the offer Event Date Opening Date Monday, 22 June 2026 Closing Date Thursday, 11.00am 25 June 2026 Rate Set Date Thursday, 25 June 2026 Issue Date and Allotment Date Wednesday, 1 July 2026 Expected Date of Initial Quotation Thursday, 2 July 2026 1 January, 1 April, 1 July and 1 October
Slide 28: Appendices
Appendices 01 Market backdrop 02 Forecast growth in NZ’s ageing population 03 Resident profile and occupancy 04 Development pipeline 05 Our strategic framework 06 Capital management framework 07 Sustainability-linked loan 08 Sustainability Waterford, Auckland 28
Slide 29: Market backdrop
01 Market backdrop Liquidity of residential housing market important for incoming resident and in generating capital gains QV House Price Index REINZ Median Days to Sell National Auckland 3,000 National Auckland 49 50 48 48 47 48 48 2,750 45 45 41 44 40 41 2,500 34 35 31 2,250 30 32 30 25 2,000 20 1
Slide 30: Forecast growth in NZ's ageing population
02 Forecast growth in NZ’s ageing population Demographic shift to older population driving occupancy trends New Zealand Senior Population Projections (2022 Base)1 Independent Living Unit Projected Undersupply by 20482 under current trends 1,400,000 100,000 Shortfall 90,000 ~115 villages3 1,200,000 8
Slide 31: Resident profile and occupancy
03 Resident profile and occupancy Occupancy, tenure and resident demographic statistics Average Age of Entry (years) Care Occupancy (12 month rolling) 92.6% 92.3% 94.5% 92.5% 95.5% 91.1% 87.0 86.5 86.2 81.3 80.8 81.0 80.8 80.3 79.5 FY2024 FY2025 FY2026 FY2024 FY2025 FY2026 Villa Apartment Care Suite
Slide 32: Development pipeline
04 Development pipeline The development pipeline has been reviewed to assess timing of deliveries Site Units1 Type Early Stage Planning Consented Construction Complete Franklin, Auckland Stage 1 31 Villas Stage 2 28 Villas Stages 3-5, 8 111 Villas Stages 6-7 43 | 81 Apartments | Care Elmwood, Auckla
Slide 33: Our strategic framework
05 Our strategic framework This framework brings everything together - connecting purpose, pillars and performance Our Purpose Supporting and empowering people to live well as they age Strategic Objectives Customer Choice Service Expansion Future Development Connected Care Inspired Living Empowered
Slide 34: Capital management framework
06 Capital management framework Our capital management approach balances development funding and operating cash flows to reduce debt, support growth, and deliver sustainable shareholder returns while operating within a 30 – 35% gearing range Development assets Operating assets Other Sources of Fundi
Slide 35: Sustainability-linked loan
07 Sustainability-linked loan $500m 5 year sustainability-linked loan was implemented in June 2022. KPIs strongly align with Oceania’s strategic direction and material impacts as set out in the table below. Interest rate benefit applies on meeting associated sustainability performance targets Oceani
Slide 36: Sustainability
08 Sustainability Supporting and empowering people to live well as they age 36
Slide 37: Sustainability continued
08 Sustainability continued Supporting and empowering people to live well as they age 37
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