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

Vital Healthcare Property Trust / Equity Bottom-Up

<ul><li><p>NZ drives asset devaluation: VHP expects a 1H23 devaluation of -NZ$65m or c.10cps</p></li><li>One development paused, another one started: VHP is pausing its A$99m Tasman medical centre which was a low yield (4.5%) fund-through project</li><li>Asset sales to manage gearing: VHP expects to divest NZ$200m of non core assets.</li></ul>

NZ drives asset devaluation: VHP expects a 1H23 devaluation of -NZ$65m or c.10cpsOne development paused, another one started: VHP is pausing its A$99m Tasman medical centre which was a low yield (4.5%) fund-through projectAsset sales to manage gearing: VHP expects to divest NZ$200m of non core assets.

Vital Healthcare: Improving Its Vital Signs