ASX / Media Release

16 May 2017

Ingenia acquires approved development site on NSW Coast

Highlights

  • Acquisition of coastal greenfield development site at Woolgoolga, north of Coffs Harbour, now unconditional

  • Off-market $7.8 million acquisition forming part of May 2017 capital raising

  • Adds 196 approved development sites to key NSW Mid-North Coast cluster

  • Settlement anticipated August 2017 with first sales targeted for Q4 FY18

Ingenia Communities Group (ASX: INA) today announced that the Group has exchanged unconditional contracts for the second of the acquisitions announced on 3 May 2017 in conjunction with a fully underwritten $74 million capital raising. The Group expects to settle the acquisition in August 2017 and is targeting commencement of the development at the end of 2017, with initial sales targeted for the last quarter of the 2018 financial year.

The DA approved site, currently known as Glenwood Lifestyle Resort, comprises 19.5 hectares in the seaside town of Woolgoolga, approximately 25 kilometres north of Coffs Harbour. With close proximity to the beach and a rural aspect to the west the site is located in an attractive area for retirees with Coffs Harbour Base Hospital, shopping centres and the Coffs Harbour Airport easily accessible.

Simon Owen, CEO of Ingenia Communities, said the opportunity to develop a masterplanned seniors community in the area would extend the Group's presence in a well-established target market.

"This is an excellent addition to our NSW Mid-North Coast cluster and extends our presence in this attractive retiree location."

Level 9, 115 Pitt St, Sydney

NSW 2000, Australia

T 1300 132 946

E investor@ingeniacommunities.com.au

www.ingeniacommunities.com.au

"The Coffs Harbour LGA has a significant and growing population aged over 50 and a median home price of over $460,000."

"We have seen strong sales at our South West Rocks community about 25 kilometres south of Coffs Harbour and are pleased to have secured another site in this region which will allow us to continue to benefit from the attractiveness of this area for seniors as they downsize."

"Ingenia also operates Garden Village and lifestyle communities in the area, with Ingenia South West Rocks, Ingenia Holidays White Albatross and Taloumbi and Oxley Gardens and our recently acquired BIG4 Bonny Hills located in close proximity, providing operating leverage".

Ingenia is acquiring the DA approved site for $7.8 million and is targeting an unlevered IRR from the development of over 20%.

"With a development approval already in place we are planning to commence works at the end of this year, allowing us to target sales in the last quarter of the 2018 financial year," Mr Owen said.

The Group continues to progress due diligence on the three remaining acquisitions announced in conjunction with the $74 million capital raising announced 3 May 2017.

ENDS

For further information please contact:

Donna Byrne

Group Investor Relations Manager P 02 8263 0507

M 0401 711 542

Ingenia Communities Holdings Limited (ACN 154 444 925), Ingenia Communities Fund (ASRN 107 459 576) and Ingenia Communities Management Trust (ARSN 122 928 410). The Responsible Entity for each scheme is Ingenia Communities RE Limited (ACN 154 464 990) (AFSL415862).

Level 9, 115 Pitt St, Sydney

NSW 2000, Australia

T 1300 132 946

E investor@ingeniacommunities.com.au

www.ingeniacommunities.com.au

2

Overview DEMOGRAPHIC OVERVIEW

Ingenia Garden Villages Taloumbi

Glenwood Lifestyle Resort

>Woolgoolga is 25 minutes north of Coffs Harbour

>The Coffs Harbour LGA median house price for 2016 was

$465,000

Ingenia Holidays White Albatross

>35% of homes in the Coffs Harbour LGA were owned outright in 2011

Ingenia South West Rocks

>The over 50s population of Coffs Harbour LGA is anticipated to grow to 48,100 by 2026.

100,000

90,000

Ingenia Garden Villages Oxley

80,000

70,000

BIG4 Bonny Hills

60,000

50,000

40,000

Ingenia Garden Villages Taree

30,000

20,000

10,000

0

Coffs Harbour Population Projections Population aged under 50 vs Population aged over 50

39,150

41,950

36,800

34,000

31,150

48,100

49,800

50,700

44,800

46,400

2016 2021 2026 2031 2036

Under 50 Over 50

1. ABS, INA Analysis and Resolution Research.

Ingenia Holidays Palms Oasis

Ingenia has a number of communities in this attractive area Location Glenwood Lifestyle Resort Coffs Ex Services Club Town Centre (Shops, IGA, Banks, Cafes) Woolworths Woolgoolga

Ingenia Communities Holdings Limited published this content on 16 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 May 2017 22:57:05 UTC.

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