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FY26 Results Presentation 25 August 2026 Ingenia Lifestyle Latitude One, Port Stephens NSW
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance 2 As an owner, operator and developer of real estate across Australia, Ingenia Communities acknowledges the traditional custodians of the lands on which we operate We recognise their ongoing connection to land, waters and community, and pay our respects to First Nations Elders past, present and emerging Image artist: Jake Simon Name: Journey About: The concept design integrates Ingenia’s brand colours into a vibrant canvas inspired by coastal landscapes, featuring warm earthy tones and black accents to honour First Nations heritage. Amongst other elements, meandering paths symbolise the life-giving rivers that intricately connect Ingenia’s communities and parks to their natural surroundings. It embodies sustainability, community, unity and harmony, resonating deeply with Ingenia’s core values. Note: Figures in this presentation have been rounded. Totals may not add due to rounding. Acknowledgement Of Country Ingenia Holidays Nambucca Heads, NSW
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Contents 3 Ingenia Lifestyle Sanctuary, QLD 04 08 14 18 22 26 Overview & Strategy Update John Carfi CEO & Managing Director Financial Performance & Capital Management Justin Mitchell Chief Financial Officer Lifestyle Development Michael Rabey EGM, Acquisitions & Development Residential Communities Kristy Minter EGM, Residential Communities Holidays Matthew Young EGM, Tourism Outlook And Guidance John Carfi CEO & Managing Director
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Ingenia Lifestyle Sunbury, VIC Ingenia Lifestyle Sunbury, VIC Results Overview & Strategy Update
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Strong FY26 result Guidance exceeded 5 Executing in line with 5-Year Plan EBIT1 $193.4m New home settlements 573 5 Improved development metrics 48% Gross margin on sales Underlying EPS1 35.8c NTA $4.28 Net cash per lot $15k Land lease1 +18% +16% +10% +9% On June 25 8,800 Pipeline lots End value >$1.5b ~7,000 Homes delivering annuity-style rents Overview 1. Based on average weekly rent of $240 and a capitalisation rate consistent with the current average for the land lease portfolio. Homes delivering rent inclusive of land lease homes in mixed use communities.
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Disciplined capital management and asset recycling supporting scale FY26 guidance exceeded; momentum in returns supporting Year 5 goals Strategy execution driving enhanced returns – on track to deliver 5-Year Plan 6 Efficient operating model with scalable cost base, driving growth through land lease development Consistent delivery of development projects at scale and in line with targeted returns • Priority for growth capital deployment (80-90%) • Targeted project returns • Mid-teen project level IRR • Gross development margin 40-50% • Net development margin 10-15% • 5-year settlements CAGR 10-15% Operations – Optimise returns/maximise value • Target 14% yield on incremental capex for all-age rental and holidays densification opportunities • 60-70% operating margin (stable land lease communities) • Active management enhancing quality and returns • Maximise Holidays value - extend via select investment Key metrics • EBIT contribution from development 50-60% • Hedging 40-60% • Gearing 25-35% Simplify business – efficiency gains delivering growth Drive performance & value via development Deliver operational efficiency & targeted returns Release capital from lower growth assets YEAR 1 (FY25) REFOCUS BUSINESS Transition from acquirer to operator complete YEAR 2 (FY26) ON TRACK Progress demonstrating execution of strategy • FY26 result above guidance demonstrating significant growth • Stable corporate and support cost base – platform established for scale • Performance based culture; refined organisational structure with productivity and efficiency gains • Land lease home settlements up 10% to 573, pipeline extended to 8,800 lots • $174 million invested in development • Lifestyle Development contributing 39% of Portfolio EBIT • Development returns growing in line with targets, supported by emerging procurement and efficiency gains • Holidays revenue up 11%; selective investment delivering value growth • High occupancy across Gardens, Lifestyle and Rental communities • $48 million growth capital invested (densification and improvements) • Disciplined capital management and capital recycling supporting investment in growth • Well progressed with release of capital via sale of lower growth assets • Exploring strategic capital partnerships - discussions progressed YEAR 5 (FY29) Scale efficiency; delivery of target returns Overview
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance $3.0b Owned/Managed Investment Property 104 Established, under development and planned Communities & Sites 8,8002 Potential new land lease home sites Development 16,400 Income generating homes, villas, cabins and sites Operations 1.8m ‘Room Nights’ 573 New land lease home settlements Settlements 1. Includes assets owned by Ingenia and Joint Venture. 2. Includes sites that are optioned or secured. Business Overview1 7 Ingenia Lifestyle Sanctuary, QLD Overview
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Financial Performance & Capital Management Ingenia Lifestyle Lakeside Lara, VIC
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance FY26 Financial Highlights • Guidance exceeded • Underlying EPS1 of 35.8 cents up 16% on FY25 (guidance 32.5 to 34.0 cents) • EBIT1 of $193. 4 million, up 18% on FY25 (guidance $180.5 to $188.7 million) • Solid operational performance - diverse revenue streams, increase in occupied sites, CPI linked rents and growth in holidays occupancy and rate • Gearing at 31% (LVR at mid point of target range) • $240 million invested in growth – acquisitions, development and densification • Distribution 9.6 cents per security, in line with policy to distribute taxable trust earnings • New home settlements up 10% on FY25; development metrics improving 1. EBIT, underlying profit and underlying EPS are non-IFRS measures designed to present, in the opinion of the Directors, the resul ts from the ongoing operating activities in a way that appropriately reflects underlying performance. EBIT and underlying profit exclude non -operating items such as unrealised fair value gains/(losses) and adjustments arising from the effect of revaluing assets/liabilities (such as derivatives and investment pr operties). Includes share of Joint Venture operating profit. FY26 excludes JV performance fee income, non -recurring IT project costs and remediation and penalty payments associated with the Consumer Affairs Victoria compliance matter at Ingenia Gardens communities in Victoria (net expense $1.9 million). 2. Settlements include Ingenia and Joint Venture . 3. Excludes non-recurring fee income from the Joint Venture (FY26) and Funds in the prior year. 4. Ingenia assets only. Revenue3 $555.3m +8% on FY25 EBIT1 $193.4m +18% on FY25 Statutory Profit $186.4m +45% on FY25 Underlying Profit1 $145.8m +16% on FY25 DPS 9.6c Consistent with FY25 Underlying EPS1 35.8c +16% on FY25 NTA $4.28 +9% on June 25 Gearing 31% +1% on June 25 FY26 Financial Performance 9 462 520 573 FY24 FY25 FY26 Home Settlements2 ($20) ($6) $15 FY24 FY25 FY26 Net cash (000’s per lot)4 44% 47% 48% FY24 FY25 FY26 Gross Margin4
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance EBIT FY26 FY25 Change Margin Residential Communities Lifestyle Development $80.7m $73.9m 9% 32% Lifestyle Rental $49.9m $46.2m 8% 48% Ingenia Gardens $11.3m $10.7m 6% 50% Holidays $63.2m $57.8m 9% 40% Portfolio EBIT $205.1m $188.6m 9% 38% Other Share of Joint Venture operating profit $33.6m $19.9m 69% Capital Partnerships1 $0.1m $0.7m (86%) Fuel, Food and Beverage $1.4m $1.3m 8% Corporate & Support costs ($46.8m) ($46.3m) 1% EBIT $193.4m $164.2m 18% EBIT FY26 Financial Performance • Lifestyle Development experienced increased average sales price and settlements growth, offset by additional sales and marketing costs as new projects progress • Lifestyle Rental benefitted from growth in rent base as developments settled new homes, and contracted rent increases were delivered across the portfolio, offset by increase in operating costs above CPI • Ingenia Gardens maintained high occupancy with modest rate growth and cost efficiencies, supporting stable margin • Ingenia Holidays growth driven by increased rate and occupancy; investment in new cabin stock and contributions from acquired assets, partly offset by higher variable costs associated with occupancy and increased utilities costs • Joint Venture operating profit – increased settlements (177 vs 146 in FY25) and higher average sales price resulted in growth in operating profit • Capital Partnerships – reduction due to wind-up of managed Funds (assets sold February 2025) • Corporate & Support cost remained stable on prior year, reflecting continued cost discipline 1. Capital partnerships includes Joint Venture property and asset management fees (sales and development fees included in Lifest yle Development) and funds management business up to February 2025 (assets sold). Excludes performance and disposal fees. Increasing settlements underwrite growth in recurring income 10
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Capital Management Key Metrics 30 Jun 26 30 Jun 25 Gearing ratio1 31% 30% Interest cover ratio (total)(covenant >2x) 4.08x 4.15x Interest cover ratio (core)(covenant >2x) 3.48x 3.37x Weighted average cost of debt (full year) 5.18% 5.24% Total debt facility $1,130.0m $1,030.0m Drawn debt $948.9m $819.9m Cash and available undrawn debt2 $174.6m $198.4m 53% Drawn Debt Hedged For further information refer to Note 4.2 in the Financial Statements. Gearing of 31%, within target range • Approximately $175 million in cash and available undrawn debt Funding capacity maintained • Well supported by lenders • Average maturity 2.8 years • Asset sales progressed • Ability to recycle further capital to fund growth Managing interest rate risk • 53% of drawn debt hedged; average hedge maturity of 2.5 years Well positioned balance sheet FY26 Financial Performance 11 3.80% 4.02% 4.22% 4.12% 4.11% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 Jun-26 Jun-27 Jun-28 Jun-29 Jun-30 millions Hedging, Derivatives and Fixed Interest Profile $- $50 $100 $150 $200 $250 $300 FY26 FY27 FY28 FY29 FY30 FY31 FY32 millions Debt Expiry 1. Gearing ratio calculated as net debt (borrowings less cash) over total tangible assets (total assets less cash and intangible assets. 2. Net of bank guarantees. Note: Structured provides rate relief to a maximum of 73bps. Other includes knockout and bank callable swaps, effective up to a rate of 4.53%.
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Living 12 Ingenia Lifestyle Plantations, NSW
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Residential Communities • Ingenia Lifestyle, Ingenia Rental and Ingenia Gardens delivering core recurring rental revenue • Cash flows supported by government payments and CPI linked or market-based rents • Communities meet growing demand for affordable housing • Build out of development sites is key driver of future rental income and land lease scale Ingenia Lifestyle Ingenia Rental Ingenia Gardens • Land lease communities targeting growing ageing population • Large development pipeline delivering growth via the creation of new master planned communities • Affordable all-age rental communities in QLD metro and VIC markets • Expansion via infill sites • Undersupply of rental accommodation • Seniors' rental communities offering supported, connected living • Differentiates offer – facilitating government funded in- home care at no cost to residents • Enhances resident experience and extends length of stay • Over 2,400 residents accessing this service Ingenia Connect now offered across all communities Increasing exposure to land lease communities 13 Living
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Key Metrics FY26 FY25 New home settlements (100% INA) 396 374 New home settlements (JV) 177 146 Homes constructed 527 511 Average home sales price (000’s)1 $681 $671 Gross margin new home sales profit1 $117.8m $106.1m Gross margin1 48% 47% Other revenue2 $4.8m $5.1m EBIT $80.7m $73.9m EBIT margin 32% 32% 30 Jun 26 30 Jun 25 Book value – development $406.1m $368.6m Land Lease (Lifestyle) Development 573 New Home Settlements $681k Ave. Home Sales Price1 18 Active Projects 1. Ingenia owned projects only. Home sales price inclusive of GST. 2. Joint Venture sales and development fees. EBIT up 9% on FY25 • Total of 573 home settlements (up 10% on FY25) • Increasing settlements contribution from Joint Venture – settlements up 21% versus FY25 • Ingenia gross margin driven by stable average sales price (up 1.5% on FY25) and emerging productivity gains $174 million capital deployed in development activity (acquisitions, Joint Venture investment and civil and infrastructure works) On track to deliver 5-Year Plan (improved returns and scale) • Average gross margin increasing – now 48% • Net cash per lot $15k • Evolving project mix – completion of two mature projects and six greenfield projects commenced FY26 Future Focus • Continue to implement design and procurement efficiencies • Deliver targeted development returns • Grow settlements as projects in delivery progress and new projects launch • Launch new projects to position for medium term scale and enhanced returns • Commence in-house construction pilot as a driver of further efficiency EBIT up 9% driven by settlements growth 14 Living -
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Development Joint Venture 15 • Total of 177 settlements across four projects delivered in FY26 • Ingenia Lifestyle Freshwater generated $4.6 million performance fee income • Projects delivering targeted returns • Average gross margin per home 56% • Net cash generation per lot $93k • Land at Nambour, QLD sold June 2026, releasing $15.2 million of capital • Distribution received from the Joint Venture during FY26 ($12 million) Key Metrics FY26 FY25 Ingenia fee income1 $9.8m $5.5m New home settlements 177 146 Joint Venture revenue (100%) $151.6m $112.4m Joint Venture operating profit (100%)1 $62.7m $39.8m Statutory profit from Joint Venture (50%) $16.3m $11.7m 30 Jun 26 30 Jun 253 Properties 4 4 Rent generating homes 550 373 Investment carrying value $104.3m $100.3m 1. Includes development and sales fees which are recognised in the Development segment (Jun 26: $4.8m; Jun 25: $5.1m ). FY26 includes performance fee of $4.6 million on completion of Ingenia Lifestyle Freshwater, QLD. 2. Average home sales price for FY26 settlements (inclusive of GST). 3. Excludes Nambour (held for sale). Ingenia Lifestyle Archer’s Run, NSW Settlements moderating into FY27 $914k Ave. Home Sales Price2 177 New Home Settlements 550 Established Homes Living
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Inventory Levels Aligned To Demand Only 46 completed homes unsold at 30 June (Ingenia and Joint Venture) • 527 homes constructed FY26 • Continued cost pressure across materials and trades being absorbed as procurement and delivery efficiencies progress Growth in construction aligned to sales momentum • Stable build times providing certainty on completion • Integrated sales and marketing function supporting demand led construction growth Inventory Aligned to Demand1 38 Available completed homes 49 Completed homes under deposit or contract 40 Available completed homes 31 Completed homes under deposit or contract Dec 2025 Jun 2026 $30.4m $26.7m 1. Ingenia projects only. Development activity led by customer demand and sales Development activity aligned to market demand • Enquiry moderating, post interest rate rise and May budget, reflecting buyer caution and consumer sentiment • 37 homes settled year to date; 387 deposited or contracted at 21 August 2026 • Average pricing for contracted homes above FY26 settlements, reflecting project mix (contribution from new and higher return projects) • Expect second half settlements skew, reflecting extended sales journey and project timing 16 Living 370 54 -37 387 1 July 2026 Net deposits Settlements 21 August 2026 Current Deposits and Contracts
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Development activity supporting growth targets Progressing current projects • Nature’s Edge and Hervey Bay complete FY26 • Three communities launched sales 2H26; three sales launches 1H27 • Displays opening across three communities 1H27 (Plantations, Bluey’s Beach and Sunbury) Pipeline extended to 8,800 potential sites • Includes sites in new markets (Townsville, Hallidays Point) • 3,570 sites with approvals in place Increasing activity to support 5-year CAGR settlements target of 10-15% • Six new communities contributing settlements FY27 • Latitude One contributing a full year of settlements • Three communities commencing FY27 New projects progressively implementing procurement and design changes Further refinement of operating model will deliver cost savings and efficiency into FY27; inhouse construction pilot commencing Q2FY27 First homes at Ingenia Lifestyle Springside, VIC Extending pipeline for development and settlements 17 Ingenia Lifestyle Archer’s Run, NSW Living
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Lifestyle Rental (land lease and all- age rental) Key Metrics FY26 FY25 Total revenue $103.1m $93.1m EBIT $49.9m $46.2m EBIT margin 48% 50% EBIT margin (stabilised)1 51% 52% 30 Jun 26 30 Jun 25 Book value – in operation $1,177.8m $1,042.3m 1. Stabilised margin includes communities 90% or more complete from 1 July 2024 and excludes refurbished home sales. 2. Includes homes in Joint Venture owned communities. Seachange Arundel, QLD 11% Revenue Increase 410 Income Producing Sites Added FY26 (INA) $1.2b Book Value 18 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 Jun-22 Jun-23 Jun-24 Jun-25 Jun-26 Lifestyle (land lease) and Rental Homes2 growing annuity stream Land Lease Rental Living
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Ingenia Lifestyle (land lease) Continuing to increase rental revenue and manage cost headwinds • New home settlements FY26, adding $4.8 million revenue per annum • Moderating rent increases reflect regulatory change in Queensland and NSW • 260 resales across established communities, average rent uplift of over 5% • Costs continuing to increase above CPI (land tax, council rates and waste) Enhancing efficiencies and resource optimisation • Facilities function extended across operating business, delivering scale and productivity gains • Centralised core functions to leverage expertise and optimise on-site team resident engagement and operational focus • Resident Lifestyle App providing strong resident benefits and enhancing efficiency Delivering revenue growth • Refined rent review process, ensuring alignment with community quality, location and resident offering Portfolio refinement to enhance quality and growth • Increasing exposure to communities with attractive demand fundamentals, scale and future development 1. Based on June 2026 resident survey. Result above target of 75%. Future Focus • Enhance community performance through disciplined operational management and continued focus on efficiency, compliance and service • Improve productivity and cost efficiency through strategic resource allocation and centralisation of site support functions • Strengthen long-term earnings resilience through active management Ingenia Lifestyle Chambers Pines, QLD 100% Occupancy And Rent Collection $221 Ave. Weekly Rent Up 3.5% 80% Customer Satisfaction1 Rent base growing 19 Living
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Ingenia Rental (all age rental) High occupancy and rent growth delivered • Average rent increase of 7.8% on review • 14 rental cabins added across three communities Maximising value and revenue • Approvals in place for 70 additional rental homes (30+ planned FY27) • New homes targeting >14% yield on cost Continued to enhance customer offer • Upgrades enhancing amenity (including roads, Wi-Fi and amenity blocks) • Focus on revenue and occupancy gains across short stay rental opportunities via targeted renovations • Integration to Holidays marketing platform to drive marketing efficiency and support revenue growth across short-stay cabins and sites Low vacancy rates, limited new supply and migration driving demand for affordable rental homes • Ability to realise NOI and valuation growth • Ongoing demand driven by lack of affordable rental stock New rental cabin, Ingenia Rental 98% Occupancy $368 Ave. Weekly Rent Up 7.3% 14 New Homes added FY26 All age ‘built to rent’ experiencing high demand Future Focus • Deliver DA approved accommodation sites • Continue to enhance community offer to support high occupancy and rental returns • Drive operational efficiencies in line with targeted community level returns • Enhance short-stay revenue and occupancy via new website and Holidays platform leverage 20 Living
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Ingenia Gardens • Revenue and EBIT up on prior year • Margin stable • Average weekly rent $416 • Ongoing program of refurbishment driving rent uplift on renewal • Occupancy maintained, delivering quality, stable cash flows • Supportive environment and social interaction with high levels of resident satisfaction • Majority of residents receive Commonwealth Pension and Rent Assistance • Remains attractive to seniors seeking rental accommodation at an affordable price point Key Metrics FY26 FY25 Total revenue $22.4m $21.6m EBIT $11.3m $10.7m EBIT margin 50% 50% 30 Jun 26 30 Jun 25 Book value $147.3m $140.4m 1. Based on March 2026 resident survey. Result above target of 75%. High occupancy maintained 1,020 Homes 86% Resident Satisfaction1 96% Occupancy Future Focus • Build on HOME principles and Ingenia Connect to deliver holistic resident health and wellness programs • Generate efficiencies in refurbishment program, enhancing speed to market • Enhance meal offering to provide convenience, quality and connection through group dining experience 21 Ingenia Gardens Grovedale, VIC Living -
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Holidays Ingenia Holidays Rivershore, QLD
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Ingenia Holidays 36 Parks with >7,600 Income Generating Sites 1,572 ‘Annual’ Sites Generating Stable Rents 4,803 Tourism Cabins and Sites 1,287 Permanent Homes (Rental and Land Lease) 23 Holidays Ingenia Holidays One Mile Beach, NSW
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Ingenia Holidays Tourism rental income up 12% with increase in both occupancy and rate • Benefit of diverse revenue base – 37% of sites deliver stable rent • EBIT margin impacted by volume related cost growth, including employee expenses, linen, OTA fees and utilities Investment to enhance portfolio, deliver revenue and value growth • New cabins added to existing parks forecast to generate above target yield on cost • Acquisition of Kinka Beach and Conway Beach with significant upside • New website delivering efficiencies (conversions up 25% year on year)4 Key Data FY26 FY25 Tourism rental income $125.1m $111.5m Residential rental income $13.2m $12.3m Annuals rental income $12.6m $11.6m Total rental income $150.9m $135.4m Other income1 $8.4m $8.0m Total income $159.3m $143.4m EBIT $63.2m $57.8m EBIT margin 40% 40% 30 Jun 26 30 Jun 25 Book value2 $1,041.4m $937.7m 1. Other income includes commercial rent, utility recoveries and non -rental services (including home sales). 2. Includes development value (Jun 2026: $41.5 million; Jun 2025: $22.4 million). 3. On a like for like basis. 4. Represents year on year change to 30 June 2026. Ingenia Holidays Byron Bay, NSW Future Focus • Continue to refine portfolio via select investment to enhance revenue and value • Integrate new parks, delivering asset plan and targeted returns • Maintain high customer satisfaction through focus on guest experience • Maximise website and inhouse marketing channels to increase conversion and reduce cost of sales • Utilise diverse distribution channels and targeted marketing to grow customer base 16% Increase in Website Revenue4 9% Increase in Off-peak Revpar3 33 New ‘Cabins’ Added FY26 Resilient portfolio delivering continued growth 24 Holidays -
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Targeted investment creating value Remixing portfolio to enhance performance and value • Selectively investing in well located parks with densification opportunities to fill strategic gaps in portfolio, create value and leverage portfolio platform and scale Recent acquisitions implementing asset strategies and delivering results • $9 million Kinka Beach acquisition settled July 2025 • 12 new cabins added since acquisition • $4.5 million acquisition of Ingenia Holidays Conway Beach (March 2026) extends platform to attractive Whitsundays location • Identified upside through asset management strategies Expansion of Ingenia Holidays Rivershore expected to complete Dec 2026 • Addition of 80 accommodation units on land acquired 2019, capitalising on high performing park with established food offering and customer base Investment in online presence and marketing yielding results • Website purchases up 16% year on year following new website launch (March 2026) • Recent campaigns delivering increased revenue versus prior year – EOFY campaign up over 80% Ingenia Holidays Rivershore, NSW Enhancing value and leveraging platform 25 Ingenia Holidays Rivershore, NSW Ingenia Holidays Kinka Beach, QLD Holidays
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Outlook & Guidance Ingenia Lifestyle Plantations, NSW
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Outlook And Guidance Delivery of FY26 guidance reflects progress towards Year 3 plan goals, and positions the Group for enhanced returns via a diverse business and revenue base, scalable platform and focus on markets with long-term demand FY27 guidance has been set with reference to • Growth in recurring revenue (operational communities and holiday parks) from the Group’s investment portfolio • Growing residential rents (new homes and CPI linked rent growth) • Continued performance from Holidays as drive tourism remains strong and customers seek value and flexibility – growth through densification, targeted marketing and recent acquisitions • Moderation in residential market conditions and uncertainty impacting consumer sentiment buyer activity and home settlements, which will continue to be demand led • Change in settlements mix reflecting completion of the first JV project • Development efficiency gains via design and procurement implementation • Capital recycling for reinvestment – divestment of lower growth assets well progressed • Impact of ongoing cost headwinds (and subdued residential market) on short-term EBIT Long term demand drivers including structural housing undersupply and ageing population remain in place – macroeconomic environment, potential changes in regulation and competitive landscape remain key considerations Business well placed to deliver on 5-Year Plan via settlements growth, efficiency gains and improving development returns 1. Guidance is subject to no material changes in market conditions, including conditions impacting the residential market, and no other unforeseen circumstances adversely affecting financial performance. EBIT growth inclusive of Ingenia share of Joint Venture ope rating profit. FY27 Guidance1 Targeting growth of 0-10% in EBIT ($193.4 to $212.8 million) and underlying EPS (35.8 cents to 39.3 cents) on FY26, subject to no material change in the operating environment Strategic focus driving growth towards year 5 targets 27 Outlook & Guidance Ingenia Lifestyle Sanctuary, QLD
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Questions Ingenia Holidays Cape Patterson, VIC
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Appendices Ingenia Lifestyle Element, Fullerton Cove NSW
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Appendix 1 EBIT by segment and underlying profit 30 Residential Communities Tourism Other ($m) Lifestyle Development Lifestyle Rental Ingenia Gardens Ingenia Holidays Fuel, Food and Beverage Capital Partnerships1 and Corporate2 Total Rental income - 85.2 21.0 13.2 - - 119.4 Tourism and annuals rental income - 3.9 - 137.6 - - 141.5 Land lease home sales 243.9 - - - - - 243.9 Fuel, food and beverage income - - - - 21.3 - 21.3 Other income 4.8 14.0 1.4 8.5 - 0.5 29.2 Total underlying segment revenue 248.7 103.1 22.4 159.3 21.3 0.5 555.3 Property expenses (4.7) (28.3) (4.8) (37.3) (1.6) (2.9) (79.6) Cost of land lease homes sold (126.1) - - - - - (126.1) Employee expenses (20.0) (16.5) (4.7) (44.9) (5.3) (27.4) (118.8) Service station expenses - - - - (8.8) - (8.8) All other expenses (17.2) (8.4) (1.6) (13.9) (4.2) (16.9) (62.2) Share of Joint Venture operating profit - - - - - 33.6 33.6 EBIT 80.7 49.9 11.3 63.2 1.4 (13.1) 193.4 Segment margin 32% 48% 50% 40% 7% - 35% Net finance expense (37.2) Income tax expense (10.4) Underlying profit 145.8 1. Includes property and asset management fees from Joint Venture. Excludes performance of $4.6 million that is non -recurring in nature and not considered part of underlying profit. 2. Corporate overheads include the Group’s support functions.
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance FY26 ($m) FY25 ($m) Opening cash at 1 July 13.4 14.5 Rental and other property income 318.4 289.4 • Increase in number of homes and average weekly rent; additional Holidays cabins and sites and higher holidays occupancy and rate Property and other expenses (251.2) (232.8) • Increase in operating costs in Lifestyle Rental and Holidays; and cost increases in Lifestyle Development to support new projects Proceeds from sale of Lifestyle homes 269.4 253.2 • Settlement of 396 homes (FY25: 374) and higher average sales price Purchase of Lifestyle home inventory (131.3) (132.5) • Managing home inventory with sales velocity Net borrowing costs paid (50.5) (38.7) • Increase in average debt balance to fund development and acquisitions All other operating cash flows (2.4) 6.6 Net cash flows from operating activities 152.4 145.2 Acquisitions of investment properties (47.3) (49.5) • Acquisition of two new land lease sites and two additional holiday parks Investment in Joint Venture and other financial assets (4.7) (12.0) • Transition of the Joint Venture to a self-funding position Capital expenditure and development costs (189.9) (155.8) • Continued investment in land lease communities and select holiday assets Other 12.6 1.5 • Includes $12 million distribution from JV and final distribution from Funds upon winding up Net cash flows from investing activities (229.3) (215.8) Net proceeds from borrowings 129.0 124.0 Distributions to security holders (37.5) (46.1) All other financing cash flows (9.4) (8.4) Net cash flows from financing activities 82.1 69.5 Total cash flows 5.2 (1.1) Closing cash at 30 June 18.6 13.4 Appendix 2 Cash Flow 31
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance 30 Jun 26 ($m) 30 Jun 25 ($m) Cash 18.6 13.4 Inventories 75.8 83.0 • Decline in inventory due to strong 2H settlements Investment properties 2,772.5 2,489.0 • Investment property value reflects capital expenditure for existing and new land lease communities, acquisitions and uplift in valuations across the portfolio Investment in Joint Venture 104.3 100.3 • Increase reflects share of Joint Venture results, partially offset by the $12 million distribution received during FY26 Other financial assets 8.6 0.5 • Financial assets and interest rate derivatives revaluation driven by movement in interest rates Other assets 47.7 41.7 Total assets 3,027.5 2,727.9 Borrowings and lease liabilities 1,007.4 879.0 • Increase in borrowings to fund acquisitions and development Other liabilities 276.4 253.1 • Increase in deferred tax liability aligned with increase in investment property values Total liabilities 1,283.8 1,132.1 Net assets 1,743.7 1,595.8 Net tangible assets per security $4.28 $3.91 Appendix 3 Consolidated balance sheet 32
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Appendix 4 33 Development Component – Land lease • On acquisition of land, the asset is initially recognised in the Development Segment and reflects the initial cost of the undeveloped land (sum of the Development Value Components) • The undeveloped land is subsequently fair valued on an ongoing basis to capture changes to the Development Value Components • As a development progresses to completion: • Remaining unsold homes’ NOI reduces as homes settle and transfer to ‘In-Operation’ - transferred on an “as-is” 1, gross value basis • Negative fair value impact of remaining underground capex reduces as capex is incurred • Remaining unsold home sale profits reduces as homes settle, and profit is recognised in the P&L In-Operation Component – Land lease and all-age rentals The In-Operation value reflects the fair value of completed income generating land lease sites (incl. NOI $ from new homes settled and transferred from development in the reporting period) within land lease and all-age rental communities 1. “As-is” reflects the transfer of NOI to the In- Operation component based on current rent and current operating NOI margins. 2. Includes fair value of remaining contractual cashflows from ground leases (Ettalong Beach). 3. Includes PV of the terminal value of remaining unsold homes’ NOI at completion. 4. Includes balance land value at Ingenia Rental Carrum Downs. 5. Settlement of new homes accounts for $50.6m of the $119.7m. Fair value uplift from rental increases and operating margin changes in the existing Lifestyle land lease and all-age rental portfolios were $36.0m and $33.1m respectively. 6. Includes write-off of maintenance capex costs, acquisition write- off costs (c.$3.3m), other below -the line capital value adjustments and the write-off of DMF value at properties with DMF structures ($4.5m in total). 7. Includes $69.6m of embedded home sales profit release for valuation purposes and $42.6m related to the transfer of NOI to In- Operation. Development Component FY26: $400.3m In-Operation Component FY26: $1,183.5m2 Investment Property Value In-Operation Development - Land Lease Cap Rate Adopted NOI Actual Capex SpentDiscount Rate Communities under Development Changes in Remaining Unsold Homes’ NOI, Underground Capex and Home Sales Profits (incl. release of embedded home sales profits and transfer of NOI to In-Operation) PV of Remaining Unsold Homes’ NOI3 FY26: $252.2m PV of Remaining Underground Capex FY26: ($387.3m) PV of Remaining Unsold Home Sale Profits FY26: $535.4m4 In-Operation LLC & All Aged Rental Value IP Value Drivers IP Value Components FY26: $1,583.8m Other Primary IP Segments $11.0m $119.7m5 $148.4m$4.7m ($123.7m)7($10.7m)6 FY26 Fair Value Movement + Capex = $149.4m FY26 Fair Value Movement = $1.0m Lifestyle Rental investment property fair value drivers
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance 1 Per Lot calculation reflects 396 settlements. 2 Excludes $7.4m of amortisation of capitalised interest expense, total capitalised interest is $13.3m. 3 “In-Operation” reflects value uplift from FY26 home settlements based on current rent and ‘as -is’ operating NOI margins. “Stabilised” reflects the pro-forma on-completion future value of FY26 home settlements taking into account future rent and stabilised NOI margins on project completion. 4 Reflects fair value uplift based on 396 INA settlements FY26. 5 Fair value uplift for land lease communities only. INA – excludes fair value uplift in all aged rentals portfolio. 6 Excludes $5.8m of amortisation of capitalised interest expense, total capitalised interest is $10.7m. 7 “In-Operation” reflects value uplift from FY25 home settlements based on current rent and ‘as -is’ operating NOI margins. “Stabilised” reflects the pro-forma on-completion future value of FY25 home settlements taking into account future rent and stabilised NOI margins on project completion. Development profit “above the ground” • Reflects the gross development margin (home sales revenue less home COGS) for new homes settled during the year Capex • Community infrastructure costs reflect the allocation of total project spend to homes settled in the financial year Fair value • Land at cost is allocated based on the number of settlements • Gross value creation from new homes settled reflects total value uplift from homes settled (previously recognised in development value) • Net FV on completion post land at cost reflects the difference between the total gross value creation from new homes settled and allocation of land at cost • Contracted rent & NOI margin changes reflects value uplift from existing homes in operation Dev profit per lot has increased, driven by pricing uplift across QLD portfolio, commencement of higher-margin settlements and the completion of brownfield projects in FY25. Land per lot has reduced in FY26 following the close-out of brownfield projects in FY25, which had higher land costs per lot due to completed infrastructure being included in the acquisition price. The per lot gross valuation increase for new homes settled reflects continued NOI margin increases as homes continue to settle. Two QLD development projects reached completion in FY26. CPI linked and market-based rent increases continue to drive value creation within existing homes in operation. Appendix 5 34 INA settlements – project value metrics
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance 1 Excludes $6.9m of amortisation of capitalised interest expense. 2 “In-Operation” reflects value uplift from FY26 home settlements based on current rent and ‘as -is’ operating NOI margins. “Stabilised” reflects the pro-forma on-completion future value of FY26 home settlements taking into account future rent and stabilised NOI margins on project completion. 3 Reflects fair value uplift based on 177 JV settlements for FY26. 4 Fair value uplift for land lease communities only. 5 Excludes $4.6m of amortisation of capitalised interest expense. 6“In-Operation” reflects value uplift from FY25 home settlements based on current rent and ‘as is’ operating NOI margins. “Stabilised” reflects the pro-forma on-completion future value of FY25 home settlements taking into account future rent and stabilised NOI margins on project completion. Development profit “above the ground” • Reflects the gross development margin (home sales revenue less home COGS) for new homes settled during the year Capex • Community infrastructure costs reflect the allocation of total project spend to homes settled in the financial year Fair value • Land at cost is allocated based on the number of settlements • Gross value creation from new homes settled reflects total value uplift from homes settled (previously recognised in development value) • Net FV on completion post land at cost reflects the difference between the total gross value creation from new homes settled and allocation of land at cost • Contracted rent & NOI margin changes reflects value uplift from existing homes in operation Dev profit per home increased, driven primarily by strong price uplifts across the portfolio in FY26. Capex per lot increased due to revised infrastructure cost assumptions, with the updated position reflected in FY26. The per lot gross valuation increase for new homes settled reflectscontinued NOI margin increases as homes continue to settle. CPI linked and market-based rent increases continues to drive value creation within existing homes in operation. Appendix 6 35 Joint Venture settlements – project value metrics
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Appendix 7 36 1. Revaluation on financial liabilities and instruments includes revaluation of deferred consideration liability, Latitude One l iability and derivatives. 1 Underlying to statutory profit
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance 37 Land lease communities >60% of revenue Appendix 8 Portfolio Overview1 Portfolio EBIT4 39% 24% 6% 31% Lifestyle Development Lifestyle Rental Ingenia Gardens Ingenia Holidays 1. Includes assets owned by Ingenia and Joint Venture. 2. Includes Joint Venture with Sun Communities. Ingenia has a 50% interest and receives fees for services. 3. Includes sites that are optioned or secured. 4. Excludes Joint Venture, FF&B and corporate and other costs. 5. Includes circa $5 million development and sales fees from the Joint Venture. Excludes Other revenue. 51% of revenue5 from annuity-style and recurring revenue streams Annuity-style Revenue Recurring Revenue Land Lease Homes Annual Sites Rental Homes Cabins Sites Lifestyle Rental Ingenia Lifestyle2 5,770 - 23 - - Ingenia Rental (All age) 322 - 1,386 79 116 Ingenia Gardens (Seniors) - - 1,020 - - Ingenia Holidays 1,133 1,572 154 1,540 3,263 Total income generating sites 7,225 1,572 2,583 1,619 3,379 Revenue $83.9m $177.0m Future growth Development sites 8,8003 - 70 >480 - RESIDENTIALHOLIDAYS Revenue Mix5 Development Revenue Annuity-style Revenue Recurring Revenue 49% 16% 35% $205m $510m
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Overview FY26 Financial Performance Living Holidays Outlook & Guidance Appendix 9 38 Gearing 25-35% (LVR 30-40%) Large, diverse asset base with emphasis on land lease portfolio providing enhanced risk adjusted returns Hedging 40-60% Efficient operating platform driving scale benefits and performance focus DEVELOPMENT EBIT contribution 50-60% LAND LEASE PORTFOLIO and ENHANCE DEVELOPMENT RETURNS GROW RECURRING REVENUE EBIT contribution 40-50% OPTIMISE RETURNS MAXIMISE VALUE RESIDENTIAL RENTAL HOLIDAYS • Priority for growth capital deployment (80-90%) • Growing capital allocation as pipeline accelerates Targeted project returns • Mid-teen project level IRR • Development gross margin 40-50% 1 • Net development margin 10-15%2 5-year settlements CAGR 10–15% • Select investment to optimise returns • Reallocate capital as needed via sale of low growth assets • Active portfolio management to enhance quality and returns Targeted returns • 14% yield on incremental capex for all-age rental densification opportunities (>100 identified in portfolio) • 60-70% operating margin (stable land lease communities) • Select investment to enhance value and revenue • Release capital via strategic capital partnering • Active portfolio management to enhance quality and returns Targeted returns • 14%+ yield on incremental capex for tourism densification opportunities (>400 identified in portfolio) • Incremental growth in EBIT margin through efficiency CAPITAL AND RETURNS Disciplined capital management supporting scale 1. Represents average above ground margin (home sales price less cost of home). 2. Represents project development margin, inclusive of community infrastructure costs. Target portfolio structure and returns (5-Year Plan)
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Contact Us Donna Byrne GM Investor Relations and Sustainability dbyrne@ingeniacommunities.com.au Tel: +61 401 711 542 Justin Mitchell Chief Financial Officer jmitchell@ingeniacommunities.com.au Ingenia Communities Group Level 10, 20 Bond Street, Sydney, NSW 2000 www.ingeniacommunities.com.au Ingenia Lifestyle Chambers Pines, Chambers Flat QLD
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Disclaimer This presentation was prepared by Ingenia Communities Holdings Limited (ACN 154 444 925) and Ingenia Communities RE Limited (ACN 154 464 990) as responsible entity for Ingenia Communities Fund (ARSN 107 459 576) and Ingenia Communities Management Trust (ARSN 122 928 410) (together Ingenia Communities Group, INA or the Group). Information contained in this presentation is current as at 25 August 2026 unless otherwise stated. This presentation is provided for information purposes only and has been prepared without taking account of any particular reader’s financial situation, objectives or needs. Nothing contained in this presentation constitutes investment, legal, tax or other advice. Accordingly, readers should, before acting on any information in this presentation, consider its appropriateness, having regard to their objectives, financial situation and needs, and seek the assistance of their financial or other licensed professional adviser before making any investment decision. This presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the subscription for, purchase or sale of any security, nor does it form the basis of any contract or commitment. Except as required by law, no representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information, opinions and conclusions, or as to the reasonableness of any assumption, contained in this presentation. By reading this presentation and to the extent permitted by law, the reader releases each entity in the Group and its affiliates, and any of their respective directors, officers, employees, representatives or advisers from any liability (including, without limitation, in respect of direct, indirect or consequential loss or damage or loss or damage arising by negligence) arising in relation to any reader relying on anything contained in or omitted from this presentation. The forward-looking statements included in this presentation involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to, the Group. In particular, they speak only as of the date of these materials, they assume the success of the Group’s business strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from forward looking statements and the assumptions on which those statements are based. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Group, or persons associated with it, may have an interest in the securities mentioned in this presentation, and may earn fees as a result of transactions described in this presentation or transactions in securities in INA. This document is not an offer to sell or a solicitation of an offer to subscribe or purchase or a recommendation of any securities, including in the United States or any other jurisdiction in which such an offer would be illegal. Approved for lodgement by the Board. 40