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>Ryman Healthcare’s (RYM) 2Q27 trading update delivered some long-awaited positive newsflow for investors.</li><li>The key positive was a solid pick-up in resale volumes, which rose to the highest level in eight quarters.</li><li>If RYM can sustain this momentum, it should be able to reduce the significant working capital drag from repurchasing aged stock (~NZ$53m in FY26) and materially improve cash generation.</li></ul>

Ryman Healthcare’s (RYM) 2Q27 trading update delivered some long-awaited positive newsflow for investors.The key positive was a solid pick-up in resale volumes, which rose to the highest level in eight quarters.If RYM can sustain this momentum, it should be able to reduce the significant working capital drag from repurchasing aged stock (~NZ$53m in FY26) and materially improve cash generation.

Ryman Healthcare 2Q27 Sales Update—Resale Revival