RESULTS FOR THE YEAR ENDED 31 MARCH 2015. INTRODUCTION Results for the Year Ended 31 March 20152...

RESULTS FOR THE YEAR ENDED 31 MARCH 2015

Results for the Year Ended 31 March 2015 2

INTRODUCTIONGraham Roberts

3

THREE YEAR PROGRESS

Results for the Year Ended 31 March 2015

Scale 2015

Rent roll up 59% £56m

Investment property up 72% £925m

Net assets up 141% £452m

Flexibility 2012 2015

Free cash/available facilities £12m £125m

Unencumbered assets − £147m

LTV 64% 48%

Performance 2015

EPS1 up 40% 2.1p

NAV1 per share up 24% 44.9p

Dividends up 48% 1.85p

1EPRA basis (appendix 5)

4

TRANSFORMATIONAL YEAR

46% underlying profit growth £245m of medical centre additions

Portfolio now £925m (up 41%) Leverage reduced from 62% to 48% Equity raise of £175m (net)

£105m invested in medical centres £57m of debt redeemed

Joined EPRA/NAREIT index New UK plc holding company Quarterly dividend increased 11% in November

2 pence per share, annual basis Fully covered


5

FINANCIAL RESULTSJonathan Murphy


6

FINANCIAL HIGHLIGHTS

Income statement 2015) 2014) % change)

Net rental income (£m) 48.2) 37.8) 28)

Underlying profit before tax (£m) 15.9) 10.9) 46)

Underlying profit per share (p) 2.1) 2.1) -)

Balance sheet 31 March 2015) 31 March 2014) % change)

Investment property (£m) 925.3) 656.7) 41)

EPRA NAV (pence per share) 44.9) 43.4) 3.4)

LTV (%) 48.3) 62.0) (22)


Returns 2015) 2014) % change)

Dividend per share (p) 1.85) 1.36) 36)

Total Property Return (%) 7.8) 7.9) (1)

Total Accounting Return (%) 7.7) 15.9) (52)

7

33% GROWTH IN ANNUALISED RENT ROLL

Mar-14 Disposals Lease events Completed developments Acquisitions Mar-1530

35

40

45

50

55

60

41.8

55.6

(0.1)

0.11.3

12.5

£m

14.4 years weighted average unexpired lease term, 87% NHS funded


8

46% GROWTH IN UNDERLYING PROFIT

Mar-14 Net finance costs Admin expenses Net rental income Mar-150

2

4

6

8

10

12

14

16

18

10.9

15.9

(4.7)(0.7)

10.4

£m


Operational efficiency and scale benefits have enabled profit growth ahead of income growth

9

EPRA NAV PER SHARE MOVEMENT

37p

38p

39p

40p

41p

42p

43p

44p

45p

46p

43.4p

44.9p

0.1p

1.4p

1.9p

2.1p

2.8p


10

41% INCREASE IN INVESTMENT PROPERTY

Mar-14 Other Development costs Revaluation gain Acquisitions Mar-150

100

200

300

400

500

600

700

800

900

1,000

656.7

925.3

2.214.0 21.4

231.0

£m


2015 2014

Net initial yield 5.56% 5.98%

Equivalent yield 5.77% 6.07%

11

STRONG AND GROWING BALANCE SHEET

Property and debt

Mar-13 Mar-14 Mar-150

100

200

300

400

500

600

700

800

900

1000

557.3

656.7

925.3

359.5

414.8450.0

Investment property Net debt£m

£269m increase in investment property Loan to value of 48% within our target

range of 45% to 55% £125m of available facilities and cash Positioned strongly for future growth


12

FINANCING

Significant refinancing completed since fund raise in October £57m facility with Santander redeemed £177m of Aviva facilities restructured resulting in 42bps reduction in rates on these loans New revolving credit facility secured from three lenders:

£60m facility 170bps initial margin variable rate five year term


13

HEALTHY FINANCING RATIOS

31 March 2015 31 March 2014

Net debt (£m) 450.0 414.8

Loan to value 48% 62%

Cash/undrawn facilities (£m) 95.3 27.6

Weighted average interest rate 5.28% 5.28%

Weighted average debt maturity 11.9 years 10.9 years

Interest cover 160% 150%

% of debt at fixed rates 100% 98%


14

GROWTH AND SCALE BENEFITS

Increased scale has delivered cost efficiencies

Track record since March 2013: EPRA Cost Ratio has fallen from 23%

to 18% Costs as a % of average asset value

have fallen from 0.89% to 0.72% 115% growth in dividends paid

Progressive, covered dividend policy


Mar-13 Mar-14 Mar-150

0.4

0.8

1.2

1.6

2.0

2.4

12.0%

14.0%

16.0%

18.0%

20.0%

22.0%

24.0%

0.86

1.36

1.85

Dividends paid (left axis)

EPRA Cost Ratio (right axis)

p

Dividends and costs

15

PROPERTY UPDATEAndrew Darke


16

SUBSTANTIAL GROWTH IN YEAR

£269m increase in portfolio value £245m additions

5.6% average yield on cost Weighted average unexpired lease

term of 17 years on new additions Acquisitions have refinancing and

asset enhancement opportunities Solicitors instructed on a further

£40m of acquisitions 2.4 million patients registered with

our GP tenants in 265 properties

March 2015 March 2014

Investment property £925.3m £656.7m

Rent roll £55.6m £41.8m

WAULT 14.4 years 14.4 years

Consideration Timing

MP Realty £107m Jun 2014

One Life £12m Jul 2014

Metro £63m Nov 2014

South Kirkby £10m Dec 2014

Other £39m Various

Developments £14m Various

Property additions

£245m


17

DEVELOPMENTS COMPLETED DURING YEAR

Achieved in excess of 100 bps margin over revaluation yield on completed developments

In-house experienced development team

Completed

Number of schemes 4

Development cost £19.6m

ERV £1.4m

Margin over revaluation yield >100 bps


Sudbury

18

FUTURE DEVELOPMENT SCHEMES

Long term requirement for country to invest in new medical centres

Future pipeline of £35m – preferred developer status

Following NHS reorganisation in April 2013, NHS England is now starting to approve developments

On-siteImmediate

pipeline

Number of schemes 5 9

Development cost £22.2m £25m

ERV £1.2m


Sutton

19

APPROACH TO DESIGN

Securing approval on new schemes – one of many benefits of in-house development Unique and bespoke Site influences Inside-out approach Sense of wellbeing Natural surveillance Environmental Sustainability


20

RENT REVIEW GROWTH

3 year rent review settlements RPI and fixed are currently the main drivers of rental growth

RPI and fixed +3.06% open market +0.38%

Land and construction cost inflation returning

Less rental evidence for rent reviews due to recent hiatus in NHS approval process

RPI/fixed/other(25% of rent roll)

OMR(75% of rent roll)

0.0

0.1

0.2

0.3

0.4

0.5

0.6

0.7

0.8

0.9

1.0

3.23%

1.99%

4.52%

0.35%

3.06%

0.38%

2012/13 2013/14 2014/15

Ab

solu

te r

ent

roll

in

crea

se (

£m)


21

MARKET AND OUTLOOKGraham Roberts


22

MARKET OVERVIEW

Yield development Medical centre returns exhibit lower volatility than commercial property and Gilts

Healthy premium over equivalent maturity Gilt >360bps

Low point for rental growth RPI forecast to recover open market reviews to reflect

construction recovery

Jun-06

Jun-07

Mar-08

Mar-09

Mar-10

Mar-11

Mar-12

Mar-13

Mar-14

Mar-15

-1%

0%

1%

2%

3%

4%

5%

6%

7%

8%

IPD monthly UK index initial yield

Assura Net Initial Yield

15 year Gilt


23

HEALTH SECTOR OUTLOOK

Cross party support for primary care investment continues Election result favourable from a timing perspective

leadership already understands the primary care problem

has already committed funding to back new premises backed the NHS leadership Five Year Forward View

Pace of acceleration in development approvals hinges on CCGs engagement

Assura has received its first approval under new regime There will remain a time lag between approval and delivery,

typically 18 months to 2 years


“A vision of a modern NHS working for you 7 days of the week –

when you need it, where you need it.

And that begins with a transformation of

primary care”

David Cameron18 May 2015

24

OUTLOOK FOR ASSURA

Attractive long term opportunity Assura well placed

skills, structure, scale brand recognition with GPs

Our three priorities are: delivering growth capturing further asset management opportunities maintaining low cost base

Delivering a secure and growing dividend


25

Q&A


Blaenavon

Birkenhead

Huthwaite

26

SUPPLEMENTARY INFORMATION

1. Market 1.1 Growing demand / inadequate supply1.2 Market: policy direction supportive1.3 Recent encouraging statements1.4 Sector attractiveness1.5 Risk reward profile unchanged1.6 Assura well placed to outperform

2. Portfolio 2.1 Total property assets2.2 Portfolio2.3 Sensitivity analysis2.4 MP Realty portfolio - £107m2.5 One Life - £12.3m2.6 Metro portfolio - £63.1m2.7 South Kirkby - £10.1m

3. Cash flows 3.1 Cash flow summary3.2 Contracted rental income3.3 Lease lengths3.4 Debt repayment profile


4. Rents 4.1 ERV evolution and reversion4.2 Open market rents still increasing4.3 Basis of rent reviews4.4 Rent review timing

5. Net assets 5.1 EPRA net asset value5.2 EPRA net asset value movement5.3 Underlying & EPRA earnings per share5.4 EPRA Cost Ratios5.5 VCP dilution

6. REITs 6.1 REITs

7. Borrowings 7.1 Bank and bond facilities7.2 Covenants

8. Dividends 8.1 Dividend calendar

27

1.1 GROWING DEMAND / INADEQUATE SUPPLY

Demand 10 year track record of cross-party

support for: more services delivered locally greater patient choice more community based facilities

(medical centres, polyclinics) Unaffordable healthcare budget

doubled in 10 years to £120bn Number of consultations with GPs has

been increasing at 2.5% per annum over 340 million visits per year

Supply 2014 BMA survey of GP practices

40% of GPs stated premises inadequate for provision of general practice services

70% said premises not suitable for offering a full range of services

80% said premises prevented them hosting a full primary / community healthcare

40% said existing premises could not be extended or developed to meet current or future needs


28

1.2 MARKET: POLICY DIRECTION SUPPORTIVE

Cross-party Government support to shift heath provision from expensive acute / secondary sector into primary care setting

2014 NHS England Five Year Forward view reinforces this shift Health & Social Care Act brings GPs into commissioning role Jeremy Hunt, December 2014: “£1 billion of funding over 4 years for investment in new

primary care infrastructure” Pressures mounting from changing demands

ageing population different expectations of service growing range of medical solutions increasing demand changing career and practice profile

Efficiency will be essential £350m Prime Minister’s challenge fund to increase access


29

1.3 RECENT ENCOURAGING STATEMENTS

Five Year Forward View Simon Stevens, NHS Chief Executive Published 23 October 2014 Radical upgrade in prevention and public

health We need a ‘new deal’ for GPs [A future that] no longer sees expertise

locked into often out-dated buildings Out-of-hospital care needs to become a

much larger part of what the NHS does The NHS will invest more in primary care

Better Health for London Commission for London (Lord Darzi) Published 15 October 2014 Professionals deserve modern GP

practices; patients deserve to be seen in them

The quality of facilities impacts the quality of care, and London is letting both its patients and its health professionals down

Many of these new or refurbished facilities should be co-located with other services, including diagnostics, specialist care, and social care, perhaps through a ‘hub and spoke’ model


30

1.4 SECTOR ATTRACTIVENESS

Market features health spend is non-discretionary planning environment ‘benign’ District Valuer determines rent reviews

Tenant features private businesses underwritten by Government premises are bespoke GPs are not mobile – “stickiness” offsetting Residual Value (RV)

Typical lease features 21 years, no breaks upward and downward not less than initial landlord triggers the review (3 years) often internal repairing and insuring


31

1.5 RISK REWARD PROFILE UNCHANGED


Source: IPD

Eight year total return vs standard deviation

246810121416180%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

Residential index

All property

Equities

All Healthcare

Gilts

Retail

Office

Industrial

Other property

GP Healthcare

Centres

Risk (standard deviation)

To

tal

Ret

urn

Sin

ce 2

007

32

1.6 ASSURA WELL PLACED TO OUTPERFORM

IPD Annual Return to Dec-14 since inception of index in 2006

Good reputation and relationships with GP community

Development capability and strong pipeline

Internally managed Knowledgeable and focused team

Income Return Capital Growth Total Return0%

1%

2%

3%

4%

5%

6%

7%

8%

6.1%

1.4%

7.6%

6.2%

0.8%

7.0%

Assura Primary Healthcare Benchmark


33

2.1 TOTAL PROPERTY ASSETS

March 15£m

March 14£m

Investment portfolio 908.3 631.6

Investment property under construction 6.7 14.8

Properties held for sale 5.4 11.6

Pharmacy lease premiums 7.3 7.2

Finance leases 3.0 3.1

Total 930.7 668.3

Balance sheet classificationMarch 15

£mMarch 14

£m

Investment portfolio 925.3 656.7

Property assets held for sale 5.4 11.6

Total 930.7 668.3


34

2.2 PORTFOLIO

Properties Value (£m) Value (%)

<£1m 37 25.2 2.8£1-5m 180 451.6 49.7£5-10m 36 253.3 27.9>£10m 12 178.2 19.6

265 908.3

Properties Value (£m) Value (%)

North 109 411.2 45.3South 74 221.4 24.4Midlands 55 201.2 22.1Scotland 9 23.9 2.6Wales 18 50.6 5.6

265 908.3

Rent roll (£m) Value (%)

GPs 38.1 68.5NHS Body 10.2 18.4Pharmacy 4.3 7.7Other 3.0 5.4

55.6


35

2.3 SENSITIVITY ANALYSIS

NIY

ERV)

p/share)

+1%)

p/share)

+2%)

)p/share)

+3%)

p/share)

6.00% (6.61p) (5.78p) (4.94p) (4.11p)

5.75% (2.98p) (2.11p) (1.24p) (0.36p)

5.50% 0.98p) 1.90p) 2.81p) 3.72p)

5.25% 5.33p) 6.28p) 7.24p) 8.19p)

5.00% 10.10p) 11.11p) 12.11p) 13.11p)


36

2.4 MP REALTY PORTFOLIO – £107M

£107m portfolio of 28 medical centres acquired in June 2014

5.8% yield on cost1

off-market transaction 15 years’ WAULT 90% of income from GPs / NHS bodies

Potential ERV of £6.6m £0.1m of additional rent is achievable if rents brought

up to current market levels £0.3m would arise on letting expansion space incremental annual overhead of £0.1m

Further asset enhancement opportunities in portfolio


1 Once historical rent reviews settled

Birmingham

Worcester

37

2.5 ONE LIFE – £12.3m

£12.3m One Life building, Middlesbrough acquired in July 2014

6.5% yield on cost off-market transaction 14 years’ WAULT 92% of income from GPs / NHS bodies

Rent roll Multi-discipline care providers

GP practice pharmacy day case theatre x-ray and diagnostic services out-patient and community service providers


38

2.6 METRO PORTFOLIO – £63.1m

£63.1m portfolio of 11 medical centres acquired in November 2014

5.4% yield on cost off-market transaction 20 years’ WAULT 89% of income from GPs / NHS bodies

Potential ERV of £4.1m £0.1m of additional rent is achievable if rents brought

up to current market levels £0.6m would arise on letting expansion space incremental annual overhead of £0.1m


Barry

Porth

39

2.7 SOUTH KIRKBY – £10.1m

£10.1m Church View Medical Centre, South Kirkby acquired in December 2014

5.2% yield on cost off-market transaction 23.5 years’ WAULT 90% of income from GPs / NHS bodies

Rent roll £0.53m Multi-discipline care providers

GP practice pharmacy optician community based services including maternity,

diabetes screening and minor surgery


40

3.1 CASH FLOW SUMMARY

March 15)£m)

March 14)£m)

Opening cash 38.6) 35.7)

Net cash from operations 16.9) 7.9)

Cash flows from investing activities:

Property and business acquisitions (64.3) (9.1)

Development expenditure (14.0) (23.5)

Sale of properties 4.2) 3.3)

Sale of businesses -) 27.4)

Other 0.1) -)

Cash flows from financing activities:

Equity issues, net of costs 173.5) -)

Dividends paid (14.4) (7.2)

Net borrowings movement (74.1) 4.1)

Closing cash 66.5) 38.6)


41

3.2 CONTRACTED RENTAL INCOME

Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 Mar-27 Mar-28 Mar-29 Mar-300

10

20

30

40

50

60

Contracted at 31-Mar-15

£853m total contracted cash flow, 93% of rent roll still contracted in 2025


42

3.3 LEASE LENGTHS

21+ 18-20 15-17 12-14 9-11 6-8 3-5 0-20

2

4

6

8

10

12

14

16

66leases 51

leases

106leases

142leases

125leases

34leases

21leases

43leases

Weighted average unexpired lease term 14.4 years

Years remaining

Ren

tal

valu

e (£

m)


43

3.4 DEBT REPAYMENT PROFILE

Mar-16

Mar-17

Mar-18

Mar-19

Mar-20

Mar-21

Mar-22

Mar-23

Mar-24

Mar-25

Mar-26

Mar-27

Mar-28

Mar-29

Mar-30

Mar-31

Mar-32

Mar-33

Mar-34

Mar-35

Mar-36

Mar-37

Mar-38

Mar-39

Mar-40

Mar-41

Mar-42

Mar-43

Mar-44

Mar-45

0

20

40

60

80

100

120

140 Aviva Bond RCF


March 15 March 14

Gross debt £516.6m £451.9m

Weighted average maturity 11.9 years 10.9 years

Weighted average cost of debt 5.28% 5.28%

44

4.1 ERV EVOLUTION AND REVERSION

Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-150

10

20

30

40

50

60

£55.6m

£2.3mPassing rent ERV

Ren

tal

valu

e (£

m)

ERV at Mar 15 £57.9m; vacant space £1.87m, valuers rental ERV £0.45m


45

4.2 OPEN MARKET RENTS STILL INCREASING

Annualised

Open market

reviews only %

Number of outstanding

reviews (passing rent)

Rent reviews settled in year to 31 March 2015 0.38%

Relating to review dates from calendar years:

2009 1 (£0.1m)

2010 (1 review) 1.62% 1 (£0.5m)

2011 (7 reviews) 0.59% 5 (£0.8m)

2012 (8 reviews) 0.26% 16 (£2.2m)

2013 (21 reviews) 0.30% 24 (£2.6m)

2014 (38 reviews) 0.23% 47 (£6.1m)

2015 - 127 (£15.1m)

1.27% annualised increase from rent reviews settled in the period

0.38% from open market rent reviews

3.06% from RPI and fixed uplift reviews


46

4.3 BASIS OF RENT REVIEWS

OMR RPI Fixed Other0%

10%

20%

30%

40%

50%

60%

70%

80%Upward only review basis (68%)

Upward/downward review basis - landlord only trigger (26%)

Upward/downward review basis - tenant can instigate (6%)

Pro

po

rtio

n o

f re

nt

roll


47

4.4 RENT REVIEW TIMING

Split of current rent roll by rent review basis and frequency of review:

Annually 3 Year 5 Year Other

OMR - 68% 7% - 75%

RPI 6% 5% 3% - 14%

Fixed - 6% - - 6%

Other - 4% - 1% 5%

6% 83% 10% 1% 100%


48

5.1 EPRA NET ASSET VALUE

Adjusted (EPRA)) net asset value)

Adjusted (EPRA)) net asset value)

March 15)£m)

March 14)£m)

Net assets 451.9) 226.6)

Own shares held 1.8) 1.9)

Derivative financial instruments -) 1.8)

Deferred tax (1.3) (0.7)

NAV in accordance with EPRA 452.4) 229.6)

Number of shares in issue 1,006,900,141 529,548,924

EPRA NAV per share – basic 44.9p 43.4p

Diluted number of shares 1,027,623,913 529,548,924

EPRA NAV per share – diluted 44.0p 43.4p


49

5.2 EPRA NET ASSET VALUE MOVEMENT

£m) Pence per share1)

NAV in accordance with EPRA at 31 March 2014 229.6) 43.4)

Income (underlying profit) 15.9) 2.1)

Capital (revaluations and capital gains) 21.3) 2.8)

Dividends (14.4) (1.9)

Share issue 201.8) (1.4)

Other (1.8) (0.1)

NAV in accordance with EPRA at 31 March 2015 452.4) 44.9)

Growth 1.5p)

3.4%


1 Based on shares in issue (529,548,924 at Mar 14, 1,006,900,141 at Mar 15) or weighted average in issue over the year to Mar 15 (763,163,756)

50

5.3 UNDERLYING & EPRA EARNINGS PER SHARE

2015£m

2014£m

Profit for the year (continuing operations) 37.2 23.8

EPRA earnings 15.8 9.2

Underlying profit 15.9 10.9

Weighted average number of shares in issue – basic 763,163,756 529,548,924

Basic EPS – continuing 4.9p 4.5p

– EPRA 2.1p 1.7p

– underlying 2.1p 2.1p

Weighted average number of shares in issue – diluted 783,887,528 529,548,924

Diluted EPS – continuing 4.7p 4.5p

– EPRA 2.0p 1.7p

– underlying 2.0p 2.1p


51

5.4 EPRA COST RATIOS

2015 2014

EPRA Cost Ratio (including direct vacancy costs) 17.7% 20.2%

EPRA Cost Ratio (excluding direct vacancy costs) 16.3% 18.4%


EPRA Cost Ratios give an indication of administrative and operating costs relative to gross rental income

52

5.5 VCP DILUTION

Five year scheme to align incentives for staff and management with long-term shareholder performance

Participants receive 10% of total shareholder return over 8% compound hurdle rate subject to overall cap of 25 million shares (which represents 2.5% of total issued share capital)

Scheme runs from 2012 – 2017 First measurement point in 2015 estimates 24.4 million shares would vest over the 5

year period of which 20.7 million would be new dilutive shares and 3.7 million would be released by the Employee Benefit Trust

50% of awarded shares held over to future periods subject to future performance


53

6.1 REITS

REIT status is a tax election available to listed real estate companies REITs are tax exempt on property rental income and capital gains Profits are passed through to investors through minimum Property Income Distributions

(PIDs) 90% of taxable property rental profits Subject to 20% withholding tax (unless investor is a qualifying institution)

Other dividends are not subject to withholding tax Assura currently pays dividends not PIDs as the minimum PID is £nil REITs are a recognised global investment class, attractive to specialist investors REITs are required to meet rules ensuring they remain focused on real estate investment

activity Development activity is permitted but taxable if developments are sold within 3 years of

practical completion


54

7.1 BANK AND BOND FACILITIES

Loan / BondFixed /

FloatingMaturity

Effective1 interest1

rate1

Secured properties

£m

Rental income

£m

Outstanding) 31 March)

£m)

10 year secured Bond Fixed10 year, bullet

repayment 20214.75%1 169.5 11.4 110.0)

Aviva amortising secured loans

FixedAmortising to

20445.43%1 592.1 35.4 406.6)

£60m revolving credit facility Floating Five year, 2020 2.17%1 - - -)

Unsecured properties 146.7 8.8

Principal 908.3 55.6 516.6)

Loan issue costs (3.1)

Book value 513.5)


1 1.70% above LIBOR, subject to LTV and interest rate swaps

55

7.2 COVENANTS

All covenant conditions complied with

Bond Aviva RCF

Req. Act. Req. Act. Req. Act.

Income v interest cover >1.5 2.09 ≥1.05 1.31 ≥1.75 n/a

Loan to Value >1.35 1.52 n/a n/a <65%1 n/a


1 Reduces to 60% in year 4 and 55% in year 5

In addition, bond requires NHS backed income to exceed 75% (31 March 2015: 78%) and the weighted average lease length must exceed 10 years (31 March 2015: 12.7 years)

The RCF requires weighted average lease length to not at any time be less than 9 years (31 March: n/a)

56

8.1 DIVIDEND CALENDAR

2015/16 Payment date Ex-div date Record date Total2

Q1 30 Apr 2015 16 Apr 2015 17 Apr 2015 0.5p2

Q2 22 Jul 20151 9 Jul 20151 10 Jul 20151 0.5p2

Q3 21 Oct 20151 8 Oct 20151 10 Oct 20151 0.5p2

Q4 20 Jan 20161 7 Jan 20161 8 Jan 20161 0.5p2


1 Provisional date 2 Provisional amount

2014/15 Payment date Ex-div date Record date Total2

Q1 23 Apr 2014 9 Apr 2014 11 Apr 2014 0.45p2

Q2 23 Jul 2014 9 Jul 2014 11 Jul 2014 0.45p2

Q3 5 Nov 2014 23 Oct 2014 24 Oct 2014 0.45p2

Q4 21 Jan 2015 8 Jan 2015 9 Jan 2015 0.5p2

57

DISCLAIMER

This presentation contains certain statements that are neither financial results nor other historical information. These statements are forward-looking in nature and are subject to risks and uncertainties. Actual future results may differ materially from those expressed in or implied by these statements.

Many of these risks and uncertainties relate to factors that are beyond Assura’s ability to control or estimate precisely, such as future market conditions, the behaviour of other market participants, the actions of governmental regulators and other risk factors such as the Company’s ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions, including inflation and consumer confidence, on a global, regional or national basis.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. Assura does not undertake any obligation to publicly release any revision to these forward-looking statements to reflect events or circumstances after the date of these materials. Information contained in this presentation relating to the Company or its share price, or the yield on its shares, should not be relied upon as a guide to future performance.


RESULTS FOR THE YEAR ENDED 31 MARCH 2015. INTRODUCTION Results for the Year Ended 31 March 20152...

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