New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Oceania Healthcare (OCA) reports its 1H23 result on Wednesday 23 November</li><li>We expect focus to be on care profitability, cost control, cash generation and total debt levels</li><li>For OCA we expect ~NZ$80m of increased net debt in 1H23, primarily driven by the acquisition of two villages in the period</li></ul>

Oceania Healthcare (OCA) reports its 1H23 result on Wednesday 23 NovemberWe expect focus to be on care profitability, cost control, cash generation and total debt levelsFor OCA we expect ~NZ$80m of increased net debt in 1H23, primarily driven by the acquisition of two villages in the period

Oceania Healthcare: 1H23 Preview — Care, Cash, Credit and Costs