Investor Presentaiton

Sources and Uses Sources and Uses of Funds Source Entitlement Offer Proceeds Total Sources Uses ($ million) 275 275 ($ million) Provide balance sheet flexibility to fund: - Identified acquisition opportunities(1) - Pre-revenue funding requirements on identified acquisition opportunities that proceed 267 - Repayment of debt in the short-term until new projects are acquired and commenced Equity raising costs Total Uses Identified Acquisition Opportunities (1) 8 275 • LIC's acquisition opportunities pipeline currently includes: - - Two sites under offer, subject to funding and due diligence One site commercially agreed with landowner, subject to due diligence, funding, and the execution of appropriate legal documentation Use of Proceeds • The Entitlement Offer provides LIC with funding capacity to support an expansion of its greenfield development strategy (acquire land, develop site, recycle capital) Potential to increase on previous target of acquiring up to three new sites per year (restricted by size of balance sheet) Strengthened balance sheet expected to allow increase in velocity of developments which is expected to underpin an acceleration in LIC's future earnings growth • The proceeds will be used to provide balance sheet flexibility to fund: A strong pipeline of identified land acquisition opportunities (1) In the short-term, the funds will be used to repay debt, and provide LIC with a strengthened liquidity position to act quickly on value accretive land acquisition opportunities which may arise • The Entitlement Offer proceeds and LIC's debt capacity are expected to be sufficient to fully fund the pre-revenue funding requirements associated with the identified acquisition opportunities (including stamp duty) - Two sites under active negotiation with landowners (1) As outlined above, opportunities subject to completion of due diligence, negotiation, Board approvals and exchange of contracts. There is no guarantee the opportunities will result in acquisitions or that the costs of or homes resulting from the acquisitions will reflect the estimates shown. Please also refer to "Development Risk" in the Key Risks section. Lifestyle Communities - Equity Raising Presentation - February 2024 15

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