MEMO: Arvida Group Limited (“ARV”)

Arvida Group Limited is a New Zealand-based aged care provider. The Company is engaged in the business of owning, operating and developing retirement villages and care facilities for the elderly in New Zealand. The Company owns and operates 36 retirement villages located nationally with over 6,750 residents. Each village operates independently under a corporate structure that supports village operations to ensure quality and consistency of service. It provides a continuum of care that extends from independent living to full rest home, hospital and dementia-level care. It has 35 communities nationwide, many of which have gardens, workshops and a range of recreational facilities, in addition to providing a range of living options, from fully independent villas to full-time care. It has approximately 763 hospitals, 545 rest homes and 236 dementia care. It also has approximately 4126 total retirement units, out of which 3,208 villas/apartments, 706 serviced apartments and 212 care suites.