COMPANY DESCRIPTION
LifeCare Residences International Group (LRI) is a developer, owner and operator of premium retirement villages in the United Kingdom and New Zealand. The Company differentiates its product and brand through superior quality, expert service and an emphasis on the highest standard of living for their residents. The LRI operating model includes the initial development and sale of senior housing units with a permanent residual economic interest in the capital values in exchange for ongoing management responsibility.

MARKET OVERVIEW
Aging populations and the lack of high-quality accommodations have created significant opportunity for the development of senior housing. This is especially true in mature markets with relatively fixed land and housing supplies. The combination of favorable population and disposable income trends and positive real estate fundamentals supports the business model, while the required operating technology and expertise create significant barriers to entry. There is substantial pent-up and new demand across the affluent elderly population for high-quality community residences with first-class amenities and services, and the Company is well-positioned to capitalize on an exciting growth opportunity.