Investor Presentaiton
Executive Summary
Business
Update
Market
Conditions
Positioning
for Growth
Equity
Raising
Looking Ahead
Lifestyle Communities (LIC) now has a portfolio of 22 communities in operation with over 5,300 homeowners
LIC has 10 projects in active development (1) and two scheduled for launch in FY24, which are expected to underpin increased
settlements over the next 3-years
1H FY24 new home sales were strong at 197, and LIC currently has over 420 new homes sold and awaiting settlement worth $287
million
LIC acquired four new sites during 1H FY24, increasing LIC's development pipeline by an estimated 776 homes
Market conditions have led to the pushing out of settlement timeframes, and LIC expects this trend to continue into 2H FY24 and persist
until market conditions improve and homebuyers' confidence returns
As a result of the market conditions, the number of englobo land parcels available for sale has also increased, which presents LIC with a
number of attractive opportunities to potentially acquire new high-quality land sites
LIC's first capital raise since 2012 is driven by the desire to capitalise on the opportunity to buy further attractive land sites made
available by the prevailing market conditions
Expanding LIC's development pipeline is expected to support the next phase of LIC's growth, with potential to increase the number of
settlements over the next 5-years, which is expected to deliver further earnings growth
Delivering on-strategy acquisitions is expected to help LIC grow its recurring rental base and further increase LIC's business reach/scale
With investments into the business over the last 5 years, LIC has the platform, systems and infrastructure in place to scale up and deliver
more projects
1-for-6.08 Accelerated Non-renounceable Entitlement Offer to raise approximately $275 million at an issue price of $16.00 per share
("Equity Raising")
Proceeds will provide balance sheet flexibility to fund strategic growth initiatives, including 5 identified land acquisition opportunities,
which if executed are expected to underpin LIC's future earnings growth (2)
No change to LIC's existing strategy, with commitment to maintain acquisition and capital management discipline post Equity Raising,
and an ongoing focus on recycling capital to pursue self-funding organic growth
(1) Includes 7 communities in operation (i.e. with homes occupied) but still under construction. (2) See slide 15 for further details on the identified land acquisition opportunities, including the status of those opportunities. There
is no guarantee those opportunities will result in acquisitions.
Lifestyle Communities - Equity Raising Presentation - February 2024
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