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Ingenia’s Proposed Acquisition of Peet Combination to Create a Leading Australian Living Sector Platform 26 August 2026
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Proposed Combination of Peet Limited and Ingenia Communities Group AGENDA 01 Transaction Overview 02 Strategic Rationale 03 Timetable and Next Steps 04 Appendix Peet acknowledges Aboriginal and Torres Strait Islander Peoples as the Traditional Owners of the lands and waters of Australia, and we pay our respect to their Elders past and present. We recognise Aboriginal and Torres Strait Islander Peoples continued connection and relationship with Country and value the rich cultural contribution they make to the communities in which we live, work and play.
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T ransaction Overview 01
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4 | Proposed Combination of Peet Limited and Ingenia Communities Group Transaction Overview Notes: 1. Assumes Peet shareholders hold shares at Peet’s 2H26 Ex Dividend Date and the Scheme Record Date. Peet shareholders who do not hold shares at the 2H26 Ex Dividend Date will not receive the 2H26 Dividend of $0.065 per share. 2. A stapled security in Ingenia comprises of a fully paid ordinary share in the capital of Ingenia Communities Holdings Limited (ACN 154 444 925), a unit in the Ingenia Communities RE Limited (ACN 154 464 990) as responsible entity for each of Ingenia Communities Fund (ARSN 107 459 576) and a unit in the Ingenia Communities Management Trust (ARSN 122 928 410). 3. To the extent any 1H27 dividend paid by Peet exceeds this cap, the Cash Consideration will be reduced by the amount of the excess. 4. Market data per Iress as at 21 August 2026. 5. Book NTA (under accounting standards) reflects historical cost and does not fully reflect the market value of development projects and co-investment stakes in funds and joint ventures. Transaction Overview • Peet Limited (Peet) has entered into a Scheme Implementation Deed (SID) (Scheme) with Ingenia Communities Group (Ingenia) • Under the Scheme, Ingenia will acquire Peet for a combination of cash and scrip (Proposed Transaction) • The Scheme is subject to customary and other conditions precedent, including regulatory approvals, Peet shareholder approval, and the Flagstone JV noted on the following page • The Peet Board and Management have undertaken reverse due diligence on Ingenia, and are confident in the value of the proposition Consideration • The Proposed Transaction represents total value to Peet shareholders of $2.185 per share1 • Under the terms of the Scheme, Peet shareholders will be entitled to receive Scheme Consideration representing an implied value of $2.12 per share, comprising: • $0.68 per share in cash (Cash Consideration); and • 0.3367 Ingenia stapled securities2 per share, equivalent to $1.44 per share at Ingenia’s 10-day VWAP of $4.28 (together with the Cash Consideration, the Scheme Consideration) • If implementation is not expected to occur before Ingenia's 1H27 ex-dividend date, Peet shareholders will receive an additional dividend up to 0.3367 times Ingenia's 1H27 dividend, before any reduction to the Scheme Consideration3. • Additionally, Peet shareholders will be entitled to receive Peet’s 2H26 dividend of $0.0651 • The total value to Peet shareholders of $2.1851 per share reflects premiums of: • 21% to Peet’s last close4 • 22% to Peet’s 1-month VWAP4 • 47% to Peet’s 30 June 2026 book NTA of $1.495 • The Scheme Consideration is structured as a mix-and-match facility, providing flexibility to elect to receive all cash, all scrip, or a combination of both (subject to a scale back) CREATING THE LARGEST PURE-PLAY ASX-LISTED LIVING SECTOR PLATFORM (COMBINED GROUP)
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5 | Proposed Combination of Peet Limited and Ingenia Communities Group Transaction Overview (Cont’d) Notes: 1. Refers to Bechel Pty Ltd (ACN 700 761 039). 2. See Peet’s ASX Announcement dated 26 August 2026 for detail surrounding theFlagstone JV condition precedent. 3. Reference to Scorpio Nominees comprises Scorpio Nominees Pty Ltd as trustee for the Gwenton Trust, Anthony Wayne Lennon, Golden Years Holdings Pty Ltd, Lennon Family Charitable Fund Pty Ltd and Gwenyth Lennon. Flagstone JV • 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 • The Flagstone JV is expected to settle 1 business day after, and is inter-conditional with, the Proposed Transaction Board and Major Shareholder • The Scheme represents a compelling value proposition for Peet shareholders • The Peet Board unanimously recommends that Peet shareholders vote in favour of the Scheme, subject to: • No Superior Proposal emerging • The Independent Expert concluding (and continuing to conclude) that the Scheme is in the best interests of Peet shareholders • Each Peet Director has confirmed that they intend to vote, or cause to be voted, all Peet shares controlled or held by, or on behalf of, that Director in favour of the Scheme, subject to the same qualifications as above • Peet’s largest shareholder Scorpio Nominees3, representing ~14.5% of shares on issue, intends to vote in favour of the Proposed Transaction in the absence of a Superior Proposal and subject to the Independent Expert concluding (and continuing to conclude) that the Proposed Transaction is in the best interests of Peet's shareholders THE PEET BOARD AND MAJOR SHAREHOLDER ARE SUPPORTIVE OF THE SCHEME
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6 | Proposed Combination Of Peet Limited And Ingenia Communities Group Delivers on the Core Objectives of the Strategic Review BENEFITS OF THE TRANSACTION ALIGN WITH KEY FOCUS AREAS IDENTIFIED IN THE STRATEGIC REVIEW Highly complementary business models Combines Peet’s high-margin develop-to-sell land business with Ingenia’s land lease development, land lease rental, and holiday rental income business Significantly enhanced scale Integrates Peet’s ~26,400 lot pipeline1 with Ingenia’s ~8,800 development sites, creating opportunities to bring online competitive supply of new developments Positioned to capitalise on attractive long-term residential markets Combined capabilities create additional flexibility to adapt to market conditions through-the-cycle, optimise value in the pipeline, and address the structural housing shortage Improved access to capital Significantly larger balance sheet, lower cost of capital, and enhanced funds management platform to drive capital-efficient growth Maximise value for Peet shareholders Peet shareholders receive an upfront premium for their shares and transition into a more liquid, S&P / ASX 200 constituent with broader institutional coverage and reduced asset concentration risk Strategic Review Focus Areas • The strategic review was announced in May 2025, and was established to: • Proactively assess Peet’s strategic positioning • Identify the optimal operational, structural, and financial settings to maximise returns • Consider how to leverage Peet’s premier asset base and funds management platform to capitalise on favourable market dynamics Scheme in Context • Following a thorough evaluation, the Peet Board has concluded that the Scheme with Ingenia delivers on the core objectives of the strategic review • As part of the transaction, the Peet Board and Management undertook reverse due diligence on Ingenia’s business • Combined Group expected to operate as one company, two brands, and with integrated management Notes: 1. Equivalent lots as at 30 June 2026.
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Strategic Rationale 02
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8 | Proposed Combination of Peet Limited and Ingenia Communities Group Transaction Highlights THE PROPOSED TRANSACTION DELIVERS COMPELLING VALUE AND STRATEGIC BENEFITS TO PEET SHAREHOLDERS Significantly enhanced scale, improved cost of capital, and potential for re-rate Diversification and de-risking of earnings base Creates the largest pure-play ASX-listed living sector platform Compelling value proposition for Peet shareholders Increased liquidity, market relevance, and S&P / ASX 200 inclusion Potential for significant revenue and cost synergies Growth opportunities through leveraging third-party capital platform
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9 | Proposed Combination of Peet Limited and Ingenia Communities Group 21% 22% 22% 29% 34% Last close 10-day VWAP 1M-VWAP Undisturbed Strategic review NTA Compelling Value Proposition for Peet Shareholders TRANSACTION DELIVERS CASH CERTAINTY TO SHAREHOLDERS WITH EXPOSURE TO POTENTIAL UPSIDE AND AN ATTRACTIVE PREMIUM Notes: 1. Premiums presented include Peet’s 2H26 dividend of $0.065 per share. Assumes Peet shareholders hold shares at Peet’s 2H26 Ex Dividend Date and the Scheme Record Date. Peet shareholders who do not hold shares at the 2H26 Ex Dividend Date will not receive the 2H26 Dividend of $0.065 per share. If implementation is not expected to occur before Ingenia's 1H27 ex-dividend date, Peet shareholders will receive an additional dividend up to 0.3367 times Ingenia's 1H27 dividend, before any reduction to the Scheme Consideration. To the extent any 1H27 dividend paid by Peet exceeds this cap, the Cash Consideration will be reduced by the amount of the excess. 2. Mix-and-match facility provides flexibility to participating shareholders to elect to receive all cash, all scrip, or a combination of both (subject to scale back). 3. Market data per Iress as at 21 August 2026. 4. “Undisturbed” reflects the closing price as at 9 July 2026, being the last day prior to the announcement that Peet was in discussions with Ingenia. 5. “Strategic review” reflects the closing price as at 14 May 2025, being the last day prior to the announcement of Peet’s strategic review. 6. Book NTA (under accounting standards) reflects historical cost and does not fully reflect the market value of development projects and co-investment stakes in funds and joint ventures. Transaction Delivers Compelling Upfront Consideration, Cash Certainty, and Continued Exposure to Potential Upside • The Proposed Transaction delivers: • Scheme Consideration of $2.12 per share • Total value to Peet shareholders of $2.185 per share1, i nclusive of Peet’s 2H26 dividend • Total value reflects a material premium to Peet’s recent trad ing • $0.68 per share Cash Consideration2 delivers upfront certainty of proceeds • Peet shareholders retain ongoing potential upside to Peet’s premier national portfolio, and in particular, one of Australia's m ost strategic residential assets (Flagstone), via receiving Ingenia stapled securities Compelling Headline Premium 47% Offer premiums compared to Peet trading and asset value (%)1,3 64 5
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10 | Proposed Combination of Peet Limited and Ingenia Communities Group 26,426 26,426 8,800 8,800 7 ,225 7 ,225 9,708 9,708 52,159 25,733 26,426 - 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 Combined Group Aspen Stockland Mirvac Ingenia GemLi fe Lifest yle Peet Cedar Australian Listed Living Sector Landscape (Lots / Sites)1 A LEADING LIVING SECTOR PLATFORM WITH INSTITUTIONAL SCALE ACROSS LAND LEASE, MPC AND TOURISM RENTAL Creates the Largest Pure-play ASX-listed Living Sector Platform Notes: 1. Data per latest ASX disclosures. 2. Other includes apartments and other operating / development sites, Ingenia’s income-generating and development sites across rental homes, annual sites, cabins and other site categories, and Aspen’s Residential, Parks and Aspen HQ sites. 3. Prior to estimated land conversion of 5,000 to 7,000 lots. Assuming the midpoint of conversions at 6,000 lots, there would be 14,800 land lease development lots, and 20,426 MPC lots. Key Highlights • Creates the largest pure-play living sector platform • Scaled and diversified land development opportunities facilitates dynamic shifting of production to adapt to rapidly changing market dynamics • Enhanced capabilities and balance sheet to capitalise on supportive long-term residential market conditions • Extensive pipeline secures pathway to growth for the next 10+ years Diversified platforms Master planned communities (MPC)Land lease (LLC)Pure-play living sector MPC lots Development LLC lots Operating LLC lots Other2 Largest listed LLC business Largest listed MPC pipeline Largest pure-play living sector platform 1st B A 35,226 residential lot pipeline 3
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11 | Proposed Combination of Peet Limited and Ingenia Communities Group THE TRANSACTION CREATES A LEADING DIVERSIFIED INVENTORY OF LAND, WITH HIGHLY COMPLEMENTARY GEOGRAPHICAL DISTRIBUTION ACROSS PEET AND INGENIA'S PORTFOLIOS Creates the Largest Pure-play ASX-listed Living Sector Platform (Cont’d) Notes: 1. Includes assets held through the JV with Sun Communities. 2. Gross development value is the forecast future sales price of the remaining equivalent lots as at 30 June 2026, subject to market conditions. 3. Equivalent lots as at 30 June 2026. 4. Refers to investment property value as at 30 June 2026. 5. Includes residential development lots only. 9 34 3 44 6 26 4 15 QLD GDV $4,741m2 | Book value ~$1.2bn4 ROL 11,051 lots3 | Pipeline 3,095 lots5 NSW / ACT GDV $2,240m2 | Book value ~$1.2bn4 ROL 2,962 lots3 | Pipeline 3,514 lots5 VIC GDV $1,150m2 | Book value ~$600m4 ROL 2,444 lots3 | Pipeline 1,793 lots5 WA GDV $3,164m2 | ROL 9,557 lots3 | 37 Projects 1041 Communities - - No INA presence SA GDV $182m2 | No stabilised INA presence ROL 412 lots3 | Pipeline 400 lots5
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12 | Proposed Combination of Peet Limited and Ingenia Communities Group S&P / ASX 200 A-REIT Index Market Capitalisation 55.8 19.2 12.2 11.4 9.8 9.1 7. 5 6.2 2.9 2.6 2.6 2.4 2.4 2.3 1.9 1.7 1.6 1.4 1.0 0.8 Increased Liquidity, Market Relevance, and S&P / ASX 200 Inclusion Notes: 1. Market data per Iress as at 21 August 2026. Based on the constituents of the S&P / ASX 200 determined Index, adjusted to include Peet. 2. Indicative Combined Group market capitalisation includes Peet’s equity value at the total offer value of $2.185 less the Cash Consideration of $0.68 per share and 2H26 dividend of $0.065 per share. 3. Indicative free float market capitalisation assumed to be equivalent to market capitalisation based on the expected pro-forma ownership structure following completion. 4. Per Bloomberg. Commentary • Immediate S&P / ASX 200 inclusion (given Ingenia is already a constituent) • Peet shareholders expected to benefit from increased trading liquidity • Market capitalisation increases from $0.8bn to $2.4bn² (~184%) • Indicative Combined Group free float market capitalisation of ~$2.4bn 3 • Increased institutional broker coverage from 1 to 8 4 THE COMBINED GROUP IS EXPECTED TO BE THE 13TH LARGEST ASX-LISTED REAL ESTATE PLAYER Ranking by market capitalisation ($bn)1 2 S&P / ASX 200 A-REIT Index constituents Combined market capitalisation of over $2.4bn2 The Combined Group is expected to be the 13th largest ASX-listed real estate exposure Largest pure-play ASX-listed living sector exposure (by market capitalisation)
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13 | Proposed Combination of Peet Limited and Ingenia Communities Group 56% 44% Combined Group Earnings Diversification Key Highlights Introduction of recurring rental earning streams (33% pro-forma contribution) • Increase in contribution over time as land lease developments stabilise and compound in scale • Exposure to a leading domestic tourism platform, supported by favourable macroeconomic trends Flexibility to dynamically shift production (across products and geographies) in response to rapidly evolving national residential markets Reduced project concentration, with pro-forma Flagstone contribution reduced materially Portfolio weighted to East Coast catchments with an attractive long-term growth outlook Diversification and De-risking of Earnings Base Notes: 1. EBIT is a non-IFRS measure that includes effects of non-cash movements in investments in associates and joint ventures. Before inter-segment transfers and other unallocated items, but after project level depreciation and amortisation. Pro-forma for adjustments related to the impact of the Flagstone JV including the estimated purchase price accounting and amortisationof the adjusted pro-forma cost base from current book value and contracts on hand. 2. Pro-forma geographic mix based on Peet’s equivalent lots (owned and managed), and Ingenia’s land lease development sites, as at 30 June 2026. Ingenia’s development sites include sites that are secured or optioned. 3. Includes SA. THE COMBINED GROUP BENEFITS FROM A MORE DIVERSIFIED EARNINGS PROFILE, WITH RECURRING RENTAL INCOME EBIT by segment1 Peet FY26 Combined Group Development lots by geography2 Peet FY26 Combined Group 33% Rental IncomeNil Rental Income 73% Eastern States3 VIC QLD NSW / ACT SA WA 9% 42% 11% 2% 36% 64% Eastern States3 MPC Development Rental Income Funds Management Land Lease Development 33% 31% 7% 30% 12% 40% 18% 2% 27%
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14 | Proposed Combination of Peet Limited and Ingenia Communities Group Significant Opportunity to Unlock Value from Peet’s Pipeline 26,426 8,800 35,226 26,426 8,800 35,226 PPC INA Combined Group Overview of Key Synergies • Highly complementary business models, with the ability to unlock higher and better use opportunities across Peet’s existing pipeline • Ingenia has identified 5,000 to 7,000 lots in Peet’s undeveloped inventory suitable for conversion to land lease sites • Indicative ~$1bn end value of land lease conversions1 • Significant benefits from MPC and land lease co- location (more efficient delivery of civil works, synergistic cross-over in customer cohorts) • Combination of two experienced management teams, with deep capability across the full development lifecycle • Potential to streamline the Combined Group’s cost base Potential for Significant Revenue and Cost Synergies EXPECTED OPERATIONAL AND CORPORATE SYNERGIES SUPPORT STRONGER RETURNS FROM PEET’S EXISTING PIPELINE # of development lots2 33% uplift Notes: 1. Based on the mid-point of the land lease conversion lot estimate of 5,000 to 7,000 and assuming $240/week average rental and a cap rate consistent with Ingenia’s Lifestyle Rental (land lease) book cap rate. 2. As at 30 June 2026. For Peet, based on equivalent lots. For Ingenia, based on land lease development lots only.
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15 | Proposed Combination of Peet Limited and Ingenia Communities Group 2,367 950 1,296 950 3,663 Peet Combined Group (Pro-forma) 7. 7 % 5.2% Peet Ingenia Significantly Enhanced Scale, Improved Cost of Capital, and Potential for Re-rate Notes: 1. Book value includes inventories and equity accounted investments for Peet. For Ingenia, book value includes segmentbook value of Lifestyle Operations and Development (land lease), Gardens, Holidays and JVs. Peet’s book value and Ingenia’s Lifestyle development book value are excluded from the rental category. 2. Pro-forma for the Flagstone JV, including recognising the investment in the JV as an equity accounted investment. ~$2.7bn Increase in Segment Book Value Scale and Recurring Earnings Support a Lower Cost of Debt FY26 disclosed WACD (%)June 2026 segment book value ($m)1 Rental book value Non-rental book value • Book value1 increases from ~$1.0bn t o ~$3.7bn, an increase of 286% • Greater balance sheet scale to support growth through-the-cycle • Potential for lower cost of debt with scale, and more diversified asset base • Pro-forma gearing of 29.5% for the C ombined Group • Land lease platforms have traded at a m aterial valuation premium to Peet • Combined Group benefits from a significant improvement in cost of equity capital, given enhanced e arnings profile Key Highlights 2
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16 | Proposed Combination of Peet Limited and Ingenia Communities Group Combined Group Established Capital PartnersStrategic Benefits of an Expanded Capital Platform Growth Opportunities Through Leveraging Third-Party Capital Platform Scale to Compete for Residential Land • Access to institutional capital enhances the ability to compete for larger land opportunities • Combined network supports growth across masterplanned communities and land lease Notes: 1. The Flagstone JV is expected to settle 1 business day after, and is inter-conditional with, the Proposed Transaction. 2. Flagstone JV to be recognised as an equity accounted investment based on the $615m valuation. $615m enterprise valuation reflects a ~$368m uplift in value compared with Peet’s existing book value of $247m as at 30 June 2026, which was based on historical cost accounting. 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 Creation of Flagstone JV1 • $615m valuation crystallisesvalue for shareholders, representing a ~$368m uplift to book value2 • Peet shareholders retain exposure to Flagstone through a capital efficient JV structure Accelerate Capital-efficient Earnings Growth • Step-change in high return-on-equity recurring fee-based earnings • Supports growth with lower reliance on balance sheet capital Unlock New Land Lease Investment Opportunities • Introduces Peet’s established capital partner network to Ingenia's leading land lease platform • Unlocks capital deployment opportunities with new and existing capital partners
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Timetable and Next Steps 03
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18 | Proposed Combination of Peet Limited and Ingenia Communities Group 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 First court hearing Late October 2026 Scheme booklet sent to Peet shareholders Early November 2026 Scheme Meeting Early December 2026 Second court hearing Early December 2026 Scheme record date Mid-December 2026 Implementation date Late December 2026 Expected Next Steps • Despatch of Scheme Booklet in early November 2026 • Vote on the Scheme at the Scheme Meeting, expected in early December • Scheme implemented and eligible shareholders receive Scheme Consideration in late December • The dates set out to the left are indicative and subject to change • Peet will continue to keep shareholders informed of any material developments in accordance with its continuous disclosure obligations
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Appendix 04
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20 | Proposed Combination of Peet Limited and Ingenia Communities Group Pro-forma Balance Sheet Impacts THE COMBINED GROUP BENEFITS FROM A LARGER BALANCE SHEET TO FUND GROWTH Notes: 1. Totals may not sum due to rounding. No adjustments have been made for accounting policy alignment. Pro-forma preliminary acquisition accounting results in no goodwill being recognised on completion, subject to finalisation of balance sheet and purchase price accounting post completion. 2. Book NTA (under accounting standards) reflects historical cost and does not fully reflect the market value of development projects and co-investment stakes in funds and joint ventures. 3. Standalone PPC gearing calculated as (total interest-bearing liabilities (including land vendor liabilities) less cash) / (total assets less cash, less intangible assets). Standalone INA gearing ratio calculated as net debt (borrowings less cash) / total tangible assets (totalassets less cash and intangible assets). 4. Combined Group gearing assumes $615m Flagstone JV value and $240m Flagstone JV debt. Jun-26 ($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 for using the equity method 203 104 188 495 Other assets (incl. net deferred tax) 97 56 - 153 Total assets 1,061 3,028 (59) 4,029 Liabilities Borrowings 215 949 (13) 1,151 Land vendor liabilities 59 - - 59 Other liabilities 114 335 - 449 Total liabilities 388 1,284 (13) 1,660 Net assets 672 1,744 (46) 2,370 Book NTA per share 2 $1.49 $4.28 $4.17 Gearing3,4 24.8% 30.9% 29.5%
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21 | Proposed Combination Of Peet Limited And Ingenia Communities Group 31 | FY24 Results Thank you peet.com.au
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22 | Proposed Combination of Peet Limited and Ingenia Communities Group 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 August 2026, has been jointly prepared by Ingenia Communities Group (a stapled group comprising Ingenia Communities Holdings Limited ACN 154 444 925 (Company) and Ingenia Communities RE Limited ACN 154 464 990 as responsible entity for each of Ingenia Communities Fund ARSN 107 459 576 (Fund) and Ingenia Communities Management Trust ARSN 122 928 410 (Trust)) (Ingenia) and Peet Limited (ACN 008 665 834) (Peet). For the purposes of ASX Listing Rule 15.5, each of Ingenia and Peet confirms that this Presentation has been authorised for release to ASX by their respective boards of directors. This Presentation has been prepared in relation to the proposed acquisition by Ingenia of the fully paid ordinary shares in Peet (Peet Shares) by way of a scheme of arrangement under Part 5.1 of the Corporations Act 2001 (Cth) (Corporations Act) (Scheme). If the Scheme is implemented, Ingenia would acquire 100% of the Peet Shares in exchange for the issue of new stapled securities in Ingenia and cash, subject to the terms and conditions detailed in the scheme implementation deed entered intoon or about the date of this Presentation (Scheme Implementation Deed). A stapled security in Ingenia comprises a fully paid ordinary share in the Company, a unit in the Fund and a unit in the Trust. A copy of the Scheme Implementation Deed is available on the ASX website (at www.asx.com.au), the Ingenia website (at https://www.ingeniacommunities.com.au/investor-centre/asx-announcements/) and the Peet website (at https://www.peet.com.au/investor-announcements/). Summary information This Presentation contains summary information and statements about the activities and businesses of Ingenia and Peet and their respective subsidiaries, which is current as at the date of this Presentation (unless otherwise indicated). The information in this Presentation is of a general nature and does not purport to be accurate nor complete, nor does it contain all the informationthat a prospective investor or existing shareholder may require in making an investment decision or evaluating participation inor voting for the Scheme or acquiring securities in Ingenia or Peet nor does it contain all the information which would be required in a prospectus or other disclosure document prepared in accordance with the requirements of the Corporations Act. This Presentation is subject to change without notice and Ingenia or Peet may in their absolute discretion, but without being under any obligation to do so, update or supplement the information in this Presentation. This Presentation should be read in conjunction with Ingenia and Peet’s other periodic and continuous disclosure announcements lodged with ASX, which are available on the ASX website (at www.asx.com.au), the Ingenia website (at https://www.ingeniacommunities.com.au/investor-centre/asx-announcements/) and the Peet website (at https://www.peet.com.au/investor-announcements/), as applicable. In connection with the Scheme, Peet will prepare a scheme booklet in the form of an explanatory statement (as that term is defined in section 412 of the Corporations Act) and notice of meeting in relation to the Scheme (together, the Scheme Booklet), which will be provided by Peet to Peet shareholders and released to ASX in due course. The Scheme Booklet will also include or be accompanied by an independent expert's report that will opine on whether the Scheme is in the best interests of Peet shareholders. Any vote by Peet shareholders in respect of the potential Scheme should only be made on the basis of the information contained in the Scheme Booklet and Peet shareholders are advised to read the formal documentation carefully once it has been dispatched. To the maximum extent permitted by law, Ingenia and Peet and their respective subsidiaries, affiliates, related bodies, directors, officers, employees, partners, agents and advisers make no representation or warranty (express or implied) as to the currency, accuracy, reliability, reasonableness or completeness of the information in this Presentation and disclaim all responsibility and liability for the information (including without limitation, liability for negligence). Reliance should not be placed on information or opinions contained in this Presentation and neither Ingenia nor Peet has any obligation to finalise, correct or update the content of this Presentation, except as required by law. Not an offer This Presentation is not a prospectus, disclosure document, product disclosure statement or other offering document under Australian law or under any other law. This presentation has not been lodged with the Australian Securities and Investments Commission. It is for information purposes only and is not an invitation or offer or solicitation of securities of Ingenia or Peet for subscription, purchase or sale in any jurisdiction or a solicitation of any vote or approval in connection with the Scheme. Not financial product advice This Presentation, and the information provided in it, does not constitute, and is not intended to constitute, financial product or investment advice (nor tax, accounting or legal advice). This Presentation has been prepared without taking account of any person’s investment objectives, financial situation, tax considerations or particular needs. Any investment decision, or other decision in connection with the Scheme should be made by investors based upon appropriate due diligence and an assessment of the Scheme and investors should seek professional advice from their legal, financial, taxation or other independent adviser. Not for release or distribution in the United States This Presentation may not be released to US wire services or distributed in the United States. This Presentation does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction, and neither this Presentation or anything attached to this Presentation shall form the basis of any contract or commitment. Any securities described in this Presentation have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (U.S. Securities Act) and may not be offered or sold in the United States except in transactions registered under the U.S. Securities Act or exempt from, or not subject to, the registration of the U.S. Securities Act and applicable US state Securities laws.
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23 | Proposed Combination of Peet Limited and Ingenia Communities Group 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 income and principal invested. Ingenia and Peet do not guarantee any particular rate of return, the performance of Ingenia or Peet, the repayment of capital from Ingenia or Peet or any particular tax treatment. When making any investment decision, investors should make their own enquiries and investigations regarding all information in this Presentation, including but not limited to the assumptions, uncertainties and contingencies which may affect future operations of Ingenia and Peet, and the impact that different future outcomes may have on Ingenia and Peet. In respect of the Scheme, investors should carefully consider the information to be made available in the Scheme Booklet (and all other materials issued by Peet in connection with the Scheme) and seek independent advice before making any decision. Before making any investment decision, investors should consider the appropriateness of all the information available having regard to their own objectives, financial and tax situation and needs and seek professional advice from their legal, financial, taxation or other independent adviser (having regard to the requirements of all relevant jurisdictions). Ingenia and Peet are not licensed to provide financial product advice in respect of an investment in securities, and do not purport to give advice of any nature. An investment in any listed company, including both Ingenia and Peet, is subject to risks of loss of income and capital. Past Performance Past performance information in this Presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of Ingenia’s, Peet’s or any other party’s views on Ingenia’s or Peet’s future performance or reasonableness of any forward looking statements, forecast financial information or other forecast (including on a consolidated basis). Actual results could differ materially from those referred to in the Presentation. Investors should note that past performance of Ingenia and Peet, including (as applicable) in relation to the historical tradingprice of securities and other historical financial information cannot be relied upon as an indicator of (and provide no guidance, assurance or guarantee as to) future performance, including the future trading price of securities. The historical information included in this presentation is, or is based on, information that has previously been released to the market. Forward Looking Statements This Presentation contains certain “forward looking statements” and comments about future matters relating to Ingenia and Peet. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as, “planned”, “expect”, “anticipate”, “projected”, “estimated”, “likely”, “intend”, “should”, “could”, “may”, “predict”, “plan”,“propose”, “will”, “believe”, “potential”, “forecast”, “estimate”, “target”, “outlook”, “guidance”, “continue” and other similar expressions and may include, but are not limited to, indications of, or guidance or outlook on, future earnings or financial position or performance, or statements regarding intent, belief, expectations, plans, projections, targets, strategies and objectives of management of Ingenia or Peet. The forward looking, statements, opinions and estimates contained in this Presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions and are not guarantees or predictions of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Ingenia or Peet,and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct. Forward-looking statements may be affected by a range of variables that could cause actual results to differ from estimated results and may cause Ingenia’s or Peet’s actual performance and financial results in future periods to materially differ from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include but are not limited to changes in property market conditions, interest rate fluctuations, general economic conditions, changes to the regulatory and legislative framework within which Ingenia and Peet operate or may in the future operate, competition, changes in government policy, currency fluctuations, changes in demand for land and property, incorrect assessments of the value of acquisitions, the demand for and availability of development and construction services, and the ability to anticipate and manage the foregoing factors and risks. These and other factors should be considered carefully, and investors should not place undue reliance on such forward-looking statements. There can be no assurance that forward-looking statements will prove to be correct. Neither Ingenia or Peet, nor any other person, gives any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this Presentation will actually occur. There can be no assurance that actual outcomes will not differ materially from these forward looking statements. A number of important factors could cause actual results or performance to differ materially from the forward looking statements. The forward looking statements are based on information available to Ingenia or Peet as at the date of this Presentation. To the maximum extent permitted by law, Ingenia and Peet and their respective subsidiaries, affiliates, related bodies, directors, officers, employees, partners, agents and advisers disclaim any obligation or undertaking to release any updates or revisions to the information to reflect any change in expectations or assumptions. Except as required by law or regulation (including the ASX Listing Rules), Ingenia and Peet and their respective directors, officers, employees, advisers, agents and other intermediaries undertake no obligation to finalise, check, supplement, revise or update forward- looking statements or to provide any additional or updated information whether as a result of new information, future events or results or otherwise (including any change in expectations or assumptions) may affect the information contained in this Presentation. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward looking statements. Nothing in this Presentation will, under any circumstances (including by reason of this Presentation remaining available and not being superseded or replaced by any other presentation or publication with respect to Ingenia, Peet or the subject matter of this presentation), create an implication that there has been no change in the affairs of Ingenia or Peet since the date of this Presentation.
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24 | Proposed Combination of Peet Limited and Ingenia Communities Group 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 respective representatives have independently verified any such market or industry data provided by third parties or industry or general publications. Photographs, Diagrams and Maps Photographs, diagrams and maps used in this Presentation are for illustration purposes only and should not be interpreted to mean that any person shown in them endorses this Presentation or its contents, or that the assets shown in them are owned by Ingenia or Peet. Diagrams and maps are illustrative only and may not be drawn to scale. Unless otherwise stated, all data contained in charts, graphs and tables is based on information available as at the date of this Presentation. Effect of Rounding A number of figures, amounts, percentages, estimates, calculations of value and fractions in this Presentation are subject to the effect of rounding. The actual calculation of these figures may differ from the figures set out in this Presentation. Financial Data All dollar values are in Australian dollars (A$ or AUD) unless otherwise stated. Amounts, totals and change percentages are calculated on whole numbers and not the rounded amounts presented. Investors should be aware that this Presentation contains pro-forma financial information and certain other financial information and measures that are “non IFRS financial information” under Regulatory Guide 230: ‘Disclosing non IFRS financial information’ published by ASIC and are not recognised under Australian Accounting Standards (AAS) and International Financial Reporting Standards (IFRS). The non IFRS financial information financial measures do not have a standardised meaning prescribed by the applicable AASor IFRS, and therefore, may not be comparable to similarly titled measures presented by other entities, nor should they be construed as an alternative to other financial measures determined in accordance with the applicable AAS or IFRS. Although Ingenia and Peet believe the non-IFRS financial information and financial measures provide useful information to users in measuring the financialperformance and condition of Ingenia and Peet, investors are cautioned not to place undue reliance on any non IFRS financial information or financial measures included in this Presentation. The pro-forma financial information provided in this Presentation is for illustrative purposes only and should not be relied upon as, and is not represented as, being indicative of Ingenia and Peet’s future financial condition or performance following completion of the Scheme. Disclaimer No person other than Ingenia and Peet has authorised, permitted or caused the issue, submission, dispatch or provision of this Presentation or, except to the extent referred to in this Presentation, makes or purports to make any statement in this Presentation. To the maximum extent permitted by law, Ingenia, Peet and their respective advisers, affiliates, related bodies corporate, directors, officers, partners, employees and agents exclude and disclaim all liability, for any expenses, losses, damages or costs incurred by you and the information in this Presentation being inaccurate or incomplete in any way for any reason, whether by negligence or otherwise. To the maximum extent permitted by law, Ingenia, Peet and their respective advisers, affiliates, related bodies corporate, directors, officers, partners, employees and agents make no representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of information in this Presentation and the statements made in this Presentation are made only as at the date of this Presentation (unless otherwise indicated). The information in this Presentation remains subject to change without notice. To the maximum extent permitted by law, Ingenia, Peet and their respective affiliates, directors, officers employees, associates, advisers and agents each expressly disclaims any and all liability, including, without limitation, anyliability arising out of fault or negligence, for any loss arising from the use of or reliance on information contained in this Presentation including representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions, forecasts, reports or other matters, express or implied, contained in, arising out of or derived from, or for omissions from, this Presentation including, without limitation, any financial information, any estimates or projections and any other financial information derived therefrom. By accepting, accessing or reviewing this Presentation (or by attending any investor briefing at which this Presentation is made), you represent, warrant and agree that you have not relied on any statements made by Ingenia or Peet in this Presentation (including in relation to the Scheme) and that you have read and agree to the terms set out above.