Investor Presentaiton

Key Risks (cont'd) Pandemic vi. Lifestyle Communities' Position, and those of its suppliers and contractors, as well as its homeowners, may be adversely affected by a future pandemic. vii. As evidenced through the COVID-19 pandemic, a future pandemic may result in federal, state and local governments in Australia implementing a number of measures and recommendations, including significant restrictions on movement and activity to slow or stop the spread of the pandemic. Those measures and recommendations, along with potential changes in the way Lifestyle Communities' employees and homeowners behave may adversely affect Lifestyle Communities' business, operations, financial position and/or performance. In addition, a future pandemic may require many of Lifestyle Communities' employees to work from home, which may necessitate a reassessment of some work flows and procedures. Addressing the disruptions a pandemic may cause may also require Lifestyle Communities' senior management team and staff to devote time and resources to address the impact of the pandemic on Lifestyle Communities' business, which may negatively impact their ability to implement Lifestyle Communities' business plans and respond to other issues and opportunities. Government measures or actions could also negatively impact Lifestyle Communities' contractors' ability to perform their contracts with Lifestyle Communities, including Lifestyle Communities' construction contractors, which could have a material adverse effect on Lifestyle Communities' business, operations, financial position and/or performance. The extent to which a future pandemic will impact Lifestyle Communities will depend on the nature of the pandemic, which cannot be predicted, including the geographic spread, severity and duration of the pandemic; the actions taken by federal and state or local governmental authorities in response to the pandemic; the impact of the pandemic on contracts and agreements to which Lifestyle Communities is a party; and the impact of the pandemic on the economy generally. Uncertainty about the effects of any future pandemic may also result in significant disruption to credit and capital markets, which may affect Lifestyle Communities' ability to raise new financing and refinance its existing and future indebtedness. Market price of ordinary shares will fluctuate There are risks associated with Lifestyle Communities shares that are relevant to any share market investment, including that the demand for Lifestyle Communities shares may increase or decrease and Lifestyle Communities shares may trade above or below the Offer Price on the ASX. The market price of Lifestyle Communities' ordinary shares on the ASX may fluctuate due to various factors, including: i. Australian and international general economic conditions (including inflation rates, the level of economic activity, interest rates and currency exchange rates), changes in government, fiscal, monetary and regulatory policies (such as interest rates, inflation, changes or disruptions to political or legal conditions, and geopolitical factors), the expressed views of regulators, investor sentiment and general market movements, which may or may not have an impact on Lifestyle Communities' Position; operating results that vary from expectations of securities analysts and investors; changes in expectations as to the Lifestyle Communities' future financial performance, including financial estimates by securities analysts and investors; ii. iii. iv. changes in market valuations of Lifestyle Communities' competitors; V. changes in dividends paid to shareholders, Lifestyle Communities' dividend payout policy or Lifestyle Communities' ability to frank dividends; viii. ix. X. xi. the announcement of acquisitions, strategic partnerships, joint ventures or capital commitments by Lifestyle Communities or its competitors; international and local share market conditions, including changes in the market price of ordinary shares and/or other capital securities or other equity securities issued by Lifestyle Communities or by other issuers, or changes in the supply of equity securities or capital securities issued by Lifestyle Communities or by other issuers; changes in laws, regulations and regulatory policy; Lifestyle Communities' failure to comply with law, regulations or regulatory policy, which may result in regulatory investigations, inquiries, litigation, fines, penalties, infringement notices, revocation, suspension or variation of conditions of relevant regulatory licences or other enforcement or administrative action or agreements (such as enforceable undertakings); other major Australian and international events such as hostilities and tensions, and acts of terrorism; and other events set out in the "Key risks and uncertainties associated with the business". It is possible that the price of Lifestyle Communities' ordinary shares will trade at a market price below the Entitlement Offer price as a result of these and other factors. It is also possible that new risks might emerge as a result of Australian or global markets experiencing extreme stress or existing risks may manifest themselves in ways that are not currently foreseeable. Liquidity The liquidity in Lifestyle Communities' shares can be limited and it may be difficult for investors to buy or sell large amounts of shares at market prices. In response to market conditions or for other reasons, the ASX may amend temporarily or permanently, rules relating to the issue or trading of shares, which may affect the liquidity of such shares. Dilution If eligible shareholders do not participate in the Entitlement Offer, then their percentage shareholding in Lifestyle Communities will be diluted and they will not be exposed to future increases or decreases in Lifestyle Communities' share price in respect of those New Shares that would have been issued to them had they participated in the Entitlement Offer. Future issues of debt or other securities by Lifestyle Communities Lifestyle Communities may, at its absolute discretion, issue additional securities in the future that may rank ahead of, equally with or behind ordinary shares, whether or not secured. Additionally, convertible securities which may be issued by Lifestyle Communities or a member of its group in the future may be converted from debt to equity securities. Any issue or conversion of other securities may dilute the relative value of existing ordinary shares and affect your ability to recover any value in a winding up. An investment in ordinary shares confers no right to restrict Lifestyle Communities from raising more debt or issuing other securities (subject to restrictions imposed under the ASX Listing Rules), to require Lifestyle Communities to refrain from certain business changes, or to require Lifestyle Communities to operate within potential certain ratio limits. An investment in ordinary shares carries no right to participate in any future issue of securities (whether equity, hybrid, debt or otherwise) by any member of the Lifestyle Communities group, other than future pro rata issues in Lifestyle Communities if the shareholder is eligible to participate in the pro rata issue under relevant laws. No prediction can be made as to the effect, if any, such future issues of debt or other issues of securities by an entity in the Lifestyle Communities group may have on the market price or liquidity of ordinary shares. Lifestyle Communities - Equity Raising Presentation - February 2024 21 21