• In FY25, GemLife released a greater proportion of premium lots with a higher average Home Sale Price
• GemLife's focus on optimising product mix within a development allows the Group to maximise Home Build Margins and cash returns
• Exceeding FY25 forecasts, while carrying forward additional homes into FY26, underpins strong earnings momentum into the next period

GemLife Communities Group reported a strong financial performance in FY25, outperforming key targets set out in the Prospectus. The Group's revenue increased by 5.8% to $281.7 million, driven by higher average Home Sale Prices and Home Build Margins. Pro Forma EBITDA increased by 9.4% to $110 million, with the EBITDA margin expanding to 39%. Underlying NPAT grew by 10.1% to $90 million, and Underlying EPS increased by 10.1% to 23.7 cents. The Group settled 312 homes in FY25, with an additional 38 homes completed and sold, awaiting settlement in FY26. GemLife's vertically integrated operating platform and focus on optimising product mix within developments enabled the Group to maximise Home Build Margins and cash returns. The Group's performance in FY25, combined with the additional homes carried forward into FY26, underpins strong earnings momentum going forward.

FY26 Underlying EPS guidance of 28.5 cents to 30.0 cents, representing 20-27% growth on FY25 Underlying EPS of 23.7 cents.

GemLife continues to see strong demand for its land lease community offering, with a robust development pipeline and additional sites secured to support future growth. The Group's vertically integrated operating platform and focus on optimising product mix and returns provides a solid foundation for continued outperformance.