Slide 1: Ingenia's Proposed Acquisition of Peet
Ingenia’s Proposed Acquisition of Peet Combination to Create a Leading Australian Living Sector Platform 26 August 2026
Slide 2: Proposed Combination of Peet Limited and Ingenia Communities Group
Proposed Combination of Peet Limited and Ingenia Communities Group AGENDA 01 02 03 04 Transaction Strategic Timetable and Appendix Overview Rationale Next Steps Peet acknowledges Aboriginal and Torres Strait Islander Peoples as the Traditional Owners of the lands and waters of Australia, and we pay
Slide 3: Transaction Overview
Transaction Overview 07 Where Vail belong
Slide 4: Transaction Overview
Transaction Overview CREATING THE LARGEST PURE-PLAY ASX-LISTED LIVING SECTOR PLATFORM (COMBINED GROUP) • Peet Limited (Peet) has entered into a Scheme Implementation Deed (SID) (Scheme) with Ingenia Communities Group (Ingenia) Transaction • Under the Scheme, Ingenia will acquire Peet for a combinati
Slide 5: Transaction Overview (Cont'd)
Transaction Overview (Cont’d) THE PEET BOARD AND MAJOR SHAREHOLDER ARE SUPPORTIVE OF THE SCHEME • Ingenia has entered into a conditional term sheet with Brown-Neaves Investments1 to sell a 49.9% stake in the Flagstone asset for an enterprise valuation of $615m (Flagstone JV)2 Flagstone JV • The Flag
Slide 6: Delivers on the Core Objectives of the Strategic Review
Delivers on the Core Objectives of the Strategic Review Strategic Review Focus Areas BENEFITS OF THE TRANSACTION ALIGN WITH KEY FOCUS • The strategic review was announced in May 2025, AREAS IDENTIFIED IN THE STRATEGIC REVIEW and was established to: • Proactively assess Peet’s strategic positioning H
Slide 7: Strategic Rationale
Strategic Rationale OZ Where Vail belong
Slide 8: Transaction Highlights
Transaction Highlights THE PROPOSED TRANSACTION DELIVERS COMPELLING VALUE AND STRATEGIC BENEFITS TO PEET SHAREHOLDERS Compelling value proposition for Peet shareholders Creates the largest pure-play ASX-listed living sector platform Increased liquidity, market relevance, and S&P / ASX 200 inclusion
Slide 9: Compelling Value Proposition for Peet Shareholders
Compelling Value Proposition for Peet Shareholders TRANSACTION DELIVERS CASH CERTAINTY TO SHAREHOLDERS WITH EXPOSURE TO POTENTIAL UPSIDE AND AN ATTRACTIVE PREMIUM Transaction Delivers Compelling Upfront Consideration, Cash Certainty, and Continued Exposure to Potential Upside Compelling Headline Pre
Slide 10: Creates the Largest Pure-play ASX-listed Living Sector Platform
Creates the Largest Pure-play ASX-listed Living Sector Platform A LEADING LIVING SECTOR PLATFORM WITH INSTITUTIONAL SCALE ACROSS LAND LEASE, MPC AND TOURISM RENTAL Australian Listed Living Sector Landscape (Lots / Sites)1 Key Highlights Master planned communities Pure-play living sector Diversified
Slide 11: Creates the Largest Pure-play ASX-listed Living Sector Platform (Cont'd)
Creates the Largest Pure-play ASX-listed Living Sector Platform (Cont’d) THE TRANSACTION CREATES A LEADING DIVERSIFIED INVENTORY OF LAND, WITH HIGHLY COMPLEMENTARY GEOGRAPHICAL DISTRIBUTION ACROSS PEET AND INGENIA'S PORTFOLIOS 37 1041 QLD Projects Communities GDV $4,741m2 | Book value ~$1.2bn4 ROL 1
Slide 12: Increased Liquidity, Market Relevance, and S&P / ASX 200 Inclusion
Increased Liquidity, Market Relevance, and S&P / ASX 200 Inclusion THE COMBINED GROUP IS EXPECTED TO BE THE 13TH LARGEST ASX-LISTED REAL ESTATE PLAYER S&P / ASX 200 A-REIT Index Market Capitalisation Commentary Ranking by market capitalisation ($bn)1 • Immediate S&P / ASX 200 Combined market capit
Slide 13: Diversification and De-risking of Earnings Base
Diversification and De-risking of Earnings Base THE COMBINED GROUP BENEFITS FROM A MORE DIVERSIFIED EARNINGS PROFILE, WITH RECURRING RENTAL INCOME Combined Group Earnings Diversification Key Highlights EBIT by segment1 Nil Rental Income 33% Rental Income Introduction of recurring rental earning st
Slide 14: Potential for Significant Revenue and Cost Synergies
Potential for Significant Revenue and Cost Synergies EXPECTED OPERATIONAL AND CORPORATE SYNERGIES SUPPORT STRONGER RETURNS FROM PEET’S EXISTING PIPELINE Overview of Key Synergies Significant Opportunity to Unlock Value from Peet’s Pipeline # of development lots2 • Highly complementary business model
Slide 15: Significantly Enhanced Scale, Improved Cost of Capital, and Potential for Re-rate
Significantly Enhanced Scale, Improved Cost of Capital, and Potential for Re-rate Scale and Recurring Earnings Support a ~$2.7bn Increase in Segment Book Value Lower Cost of Debt Key Highlights June 2026 segment book value ($m)1 FY26 disclosed WACD (%) • Book value1 increases from ~$1.0bn Rental boo
Slide 16: Growth Opportunities Through Leveraging Third-Party Capital Platform
Growth Opportunities Through Leveraging Third-Party Capital Platform A POTENTIALLY EXPANDED THIRD-PARTY CAPITAL PLATFORM WILL PROVIDE THE SCALE AND CAPITAL REQUIRED TO COMPETE FOR RESIDENTIAL LAND AND EXTEND EXISTING PARTNERSHIPS INTO LAND LEASE OPPORTUNITIES Strategic Benefits of an Expanded Capita
Slide 17: Timetable and Next Steps
Timetable and Next Steps 0 3 Where Vail belong
Slide 18: Indicative Implementation Timetable
Indicative Implementation Timetable PEET SHAREHOLDERS WILL HAVE THE OPPORTUNITY TO CONSIDER THE SCHEME BOOKLET AND VOTE ON THE PROPOSED TRANSACTION BEFORE EXPECTED IMPLEMENTATION IN LATE DECEMBER 2026 (SUBJECT TO APPROVALS) Event Date Expected Next Steps First court hearing Late October 2026 • Despa
Slide 19: Appendix
Appendix OF Where Vail belong
Slide 20: Pro-forma Balance Sheet Impacts
Pro-forma Balance Sheet Impacts THE COMBINED GROUP BENEFITS FROM A LARGER BALANCE SHEET TO FUND GROWTH Jun-26 ($m) Peet Ingenia Transaction Adjustments Combined Group1 Assets Cash and cash equivalents 15 19 - 33 Inventories 747 76 (247) 576 Investment properties - 2,772 - 2,772 Investments accounted
Slide 21: Thank you
Thank you peet.com.au 31| Proposed 21 | FY24 Results Combination Of Peet Limited And Ingenia Communities Group
Slide 22: Disclaimer
Disclaimer The following notices and disclaimers apply to this presentation (Presentation) and you are therefore advised to read this carefully before reading or making any other use of this Presentation or any information contained or referred to in this Presentation. This Presentation, dated 26 Au
Slide 23: Disclaimer (cont.)
Disclaimer (cont.) Investment risk An investment in Ingenia and Peet’s securities in their current state or following completion of the Scheme is subject to investment and other known and unknown risks, some of which are beyond the control of Ingenia and Peet respectively, including possible loss of
Slide 24: Disclaimer (cont.)
Disclaimer (cont.) Industry Data Certain market and industry data used in connection with this Presentation may have been obtained from research, surveys or studies conducted by third parties, including industry or general publications. None of Ingenia and Peet or their respective advisers nor their