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Financial Report 2026

BaptistCare ABN 90 000 049 525 Annual Financial Report 30 June 2026

BaptistCare Contents

Contents Directors’ report ....................................................................................................................................................... 3 Lead auditor’s independence declaration .............................................................................................................. 11 Consolidated statement of profit or loss and other comprehensive income ........................................................ 12 Consolidated statement of financial position ......................................................................................................... 13 Consolidated statement of changes in funds ........................................................................................................ 14 Consolidated statement of cash flows .................................................................................................................. 15 Notes to the consolidated financial statements .................................................................................................... 16 Directors’ declaration ............................................................................................................................................. 43 Independent auditor’s report ................................................................................................................................. 44

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BaptistCare Directors’ report

For the year ended 30 June 2026 Directors’ report

The Directors present their report together with the financial statements of BaptistCare for the financial year ended 30 June 2026 and the auditor’s report. BaptistCare is a company limited by guarantee incorporated under the Corporations Act 2001 (Cth). It is registered as a charity with the Australian Charities and Not-for-profits Commission (ACNC), endorsed as an Income Tax Exempt Charity by the Australian Taxation Office, and recognised as a Public Benevolent Institution (PBI). 1. Objectives and Strategies During the year, BaptistCare launched a new national vision, purpose, values and brand. Guided by our purpose, Inspired by Jesus to champion care for all, and vision of Communities where everyone can live to their full potential, the Group continued to deliver care, housing and community services while pursuing sustainable growth and longterm positive impact. As we enter our second full year as a unified, national organisation, our strategy continues to reflect both a strong foundation and bold ambition. Our strategic approach balances immediate integration priorities with a long-term vision for impact, growth, and excellence. We continue to focus on the delivery of the FY26-27 strategy; a two-year roadmap to unite, adapt, grow and scale as a national, person-centred and faith-based organisation. This strategy positions us to deliver outstanding customer experience and professional services across aged care, community services and housing. Our priority remains on strengthening communities and improving wellbeing through the delivery of high-quality care, housing and community services. We are progressing the development of a five-year enterprise strategy to commence FY28 to guide the organisation through to the end of the decade. The strategy will be shaped by our Christian identity, our vision and purpose, the needs of those we serve, and the opportunities and challenges facing the sectors in which we operate. 2. Principal activities BaptistCare has three primary operating streams which work together to achieve the objectives of BaptistCare. These streams are as follows: •

Residential Services and Retirement Living – includes aged care homes;

•

Home Care – supporting seniors and their carers to live independently at home; and

•

Community Services and Housing – includes social and affordable housing and homelessness services, community places and development, children, youth and family programs, domestic and family violence services, adventure camping, mental health services, counselling services, aboriginal specific services, out of home care and disability (NDIS).

BaptistCare also delivers chaplaincy and spiritual care services across its services. 3. Financial Position, Operational Highlights and Significant Changes in State of Affairs The operating surplus of BaptistCare for the year ended 30 June 2026 was $44,253,000 (2025: a surplus of $518,241,000). During the financial year, the new Aged Care Act 2024 came into effect, impacting multiple business streams and respective operating models. The Group has considered the changes and amended business processes and systems to be compliant. The Group expanded its residential operations through the acquisition of 12 retirement villages and the commissioning of a new aged care site. Funding for the strategic growth was supported by the Group entering into new financing arrangements.

BaptistCare Directors’ report (continued) For the year ended 30 June 2026

3. Financial Position, Operational Highlights and Significant Changes in State of Affairs (continued) The Directors wish to note a number of important matters: The Group continued to deliver aged care, retirement living, housing, disability and community services throughout the year. Operations remained focused on providing quality care and support while maintaining financial sustainability. The year represented a significant period of growth and transformation for the Group. In addition to expanding service capacity through strategic acquisitions and development activity, the Group progressed the integration of systems, processes and operations as a unified national organisation. A key strategic milestone was the launch of BaptistCare's new vision, purpose, values and brand, creating a shared foundation for employees and volunteers across Australia. The Group also continued investing in digital transformation, workforce capability and service improvements designed to strengthen customer outcomes and operational efficiency. More information is available at https://baptistcare.org.au/about-baptistcare/publications/. 4. Measurement of Performance & Compliance with Standards BaptistCare measures its performance through the establishment and monitoring of indicators and benchmarks, which are regularly reviewed by the Board and Senior Management. These include: 1. Customer satisfaction surveys 2. Staff turnover 3. Staff satisfaction survey 4. Work, health and safety measurements 5. Care and clinical indicators 6. Fundraising metrics 7. Occupancy rates 8. Number of Home Care packages 9. Progress on major capital projects 10. Growth in Community Services 11. Returns on financial investments 12. Various financial indicators, including performance against the Board-approved budget for the year BaptistCare also takes steps to ensure compliance with all relevant industry standards. 5. Board of Directors The merger of BaptistCare NSW & ACT, Baptcare Limited and Baptist Care (SA) Inc. was implemented on 1 March 2025 (the Merger). The Members approved the change of the Company’s name to “BaptistCare” on 16 June 2025, and this took official effect on 24 June 2025. The BaptistCare Board underwent significant changes as a result of the Merger. The transition brought together directors from each organisation. The Board currently comprises 11 Directors who serve in accordance with BaptistCare’s Constitution – nine of the Directors are elected by the Members, and two Appointed Directors are nominated by the Board and approved by the Baptist Union of NSW and Baptist Union of Victoria respectively. The Directors of BaptistCare during or since the end of the financial year are set out below:

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BaptistCare Directors’ report (continued) For the year ended 30 June 2026

5. Board of Directors (continued)

Post-merger Board Tim Farren

Board Chair BA(Econ), GAICD, MIOSH, FRMIA Director from March 2025 Tim was appointed Chair of BaptistCare in March 2025, having previously served as the Chair of Baptcare Limited from 2022 to 2025 (Director since 2017). He is a member of the Care & Clinical Governance, People & Governance, and Transformation Committees. Tim is currently CEO of Catholic Church Insurance, and has extensive leadership experience across the financial services sector. Tim has held multiple Board roles across Church and notfor-profit organisations. He is a member of Crossway Baptist Church.

Robert Dunn AM

Board Deputy Chair BA(Hons) FAICD, CA Director from November 2018 Robert was the Chair of BaptistCare NSW & ACT from 2019 until March 2025. Robert is Chair of the Audit & Risk Committee and a member of the Property & Acquisition Committee. Robert has extensive leadership experience, having held senior executive and Board roles, at organisations including Logosdor Limited, The Mission to Seafarers, Opportunity International, Patrick Corporation, and the Port Authority of New South Wales. He is a member of Castle Hill Baptist Church.

Rev Dr Melinda Cousins

PHD, MTh, BTh (Hons), LLB(Hons), AdvDip Theology (Pastoral Ministry), GradCert Prof Supervision Director from March 2025 Melinda was appointed as a Director of BaptistCare in March 2025, having been a Board Member of Baptist Care (SA) Inc. from 2021. Melinda is a member of the Governance, People & Culture and Transformation Committees. Melinda is the Director of Ministries for Baptist Churches SA & NT and has been an ordained Baptist minister since 2002. Melinda has held leadership roles as a local church pastor, State Director for Global Interaction, and educator in Biblical Studies at Tabor, Adelaide

Dr Jennifer Fitzgerald AM

BAppSci (Physiotherapy), PGDip(Neurology), MBA, ProfDoc (Physiotherapy), FAICD, FAIM, Assoc Prof (Clin) UniMelb Director from March 2025 Jennifer is a member of the Audit & Risk and Care & Clinical Governance Committees. Jennifer brings over 40 years of experience as a clinician, manager, and executive in the health, disability, and aged care sectors, together with Board and CEO roles in national peak bodies. She attends St Patrick’s Cathedral Parish, Ballarat.

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BaptistCare Directors’ report (continued) For the year ended 30 June 2026

5. Board of Directors (continued) Corinne Glasby

BEc FIAA, GAICD Director of BaptistCare from November 2019 Corinne is Chair of the Governance, People & Culture Committee and a member of the Audit & Risk Committee. Corinne is an experienced executive in the insurance industry and a qualified actuary, with senior roles across actuarial, capital management, reinsurance, and risk management. She is a member of Harbourside Church.

Assyl Haidar

VFF, MIT Exec Prog (Innovation & Leadership), Stanford GSE Exec Prog (Innovation & Entrepreneurship) Director of BaptistCare from March 2025 Assyl is Chair of the Transformation Committee and a member of the Care & Clinical Governance Committee. Assyl is the Group Chief Information Officer at KOOKAI Australia and has held senior roles in digital transformation, strategy, innovation, and operations across the University of Melbourne, Pitcher Partners, Carlton & United Breweries, and Universities Australia. He is a member of Crossway Baptist Church.

Dr Rebecca Iseli

MBBS, FRACP, Master of Wound Care, GAICD Director of BaptistCare from March 2025 Rebecca is Chair of the Care & Clinical Governance Committee and a member of the Transformation Committee. Rebecca is a Geriatrician with over 15 years’ experience in geriatric medicine, currently working across community, hospital, and residential aged care settings at the Royal Melbourne Hospital. She is a member of St Jude’s Anglican Church.

Graham Reed

BA (Planning), MPIA, GAICD, CPP Director of BaptistCare from November 2023 Graham is a member of the Property & Acquisition and Care & Clinical Governance Committees. Graham has over 30 years of experience in the aged care sector, having worked in senior executive roles in South Australia, Queensland and New South Wales. He is a member of Riverlife Baptist Church in Brisbane.

Allen Sibley

Dip Teach, MBA, GAICD NSW Appointed Director from March 2025 Allen is a member of the Governance, People & Culture Committee and the Transformation Committee. Allen has over 20 years of executive experience in multinational IT corporations and has held senior roles in Christian not-for-profit organisations including BaptistCare, IntegriCare, Bedford College, and PeaceWise. He is Chair of the Baptist Churches of NSW & ACT Assembly Council and a member of Parramatta Baptist Church.

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BaptistCare Directors’ report (continued) For the year ended 30 June 2026

5. Board of Directors (continued) Michael Turnbull

Cert. Bus, Grad Cert Th, Grad Dip of Management, MAICD, FAIML VIC Appointed Director from March 2025 Michael is a member of the Audit & Risk Committee and the Property & Acquisition Committee. Michael has more than 40 years of business leadership experience, including as regional CEO of a global logistics group, and now serves as a business advisor and board member across commercial and not-for-profit sectors. He is a member of Syndal Baptist Church in Melbourne.

Cameron Webb

BBus (Retail Management), MBA GAICD Director of BaptistCare from December 2016 Cameron is Chair of the Property & Acquisition Committee and a member of the Transformation Committee. Cameron has over two decades of experience in large-scale, technology-driven business transformation across retail, manufacturing, consulting, and technology sectors. He is a member of Dural Baptist Church.

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BaptistCare Directors’ report (continued) For the year ended 30 June 2026

5. Board of Directors (continued) Board and Committee Meetings

Audit & Risk

Property & Acquisitions

People & Governance

Care & Clinical Governance

Transformation

Total Meetings

Board

The table below sets out the number of meetings of the Board and Committees, the number of meetings and attendance by each of the Directors and External Committee Members1 (ECM) at those meetings they were eligible to attend during the reporting period:

Tim Farren

Robert Dunn

Corinne Glasby

8 8

Melinda Cousins Assyl Haidar

Rebecca Iseli

Jennifer Fitzgerald

Mick Turnbull

Allen Sibley

Graham Reed

Cameron Webb Mark Trajcevski (ECM) Peter Murphy (ECM) Brad Griffiths (ECM)

Anna Phan (ECM)

Paul Watkins (ECM)

1 A person appointed to a Committee who is not a Director.

6. Company Members At the Extraordinary General Meeting of the Company on 13 February 2025 the Members approved amendments to the Constitution to implement changes to the Membership structure based on four representative bodies – BUNSW, the Baptist Union of Victoria, the Baptist Churches of Western Australia, and the Baptist Churches of South Australia and the Northern Territory Incorporated. These changes took effect 1 March 2025, and BaptistCare now has 4 Members (2025: 4). Each Member has a liability in the case of winding-up, the maximum liability of any Member under the guarantee being $0.10. The total amount that Members of BaptistCare are liable to contribute as at 30 June 2026 is $0.40 (2025: $0.40).

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BaptistCare Directors’ report (continued) For the year ended 30 June 2026 7. Company Secretaries The following were Secretaries of the Company during the reporting period:

•

Catherine Officer appointed 21 March 2025

•

Catherine Barber appointed 1 March 2025

•

Kirstin Fischer appointed 26 August 2024

8. BaptistCare subsidiaries Consequent to the merger, Baptcare Limited and Baptist Care (SA) Inc became part of the BaptistCare Group as subsidiaries, when BaptistCare became the sole Member of those entities. Refer to Note 25 for details of the Group’s subsidiaries. 9. Events subsequent to reporting date Subsequent to 30 June 2026, BaptistCare acquired the ownership and operation of two retirement villages in New South Wales from Presbyterian Aged Care (PAC), being Elouera in North Wollongong and Park Linn Haven in Bowral. BaptistCare assumed responsibility for the villages from 1 July 2026. The villages comprise 34 independent living units and the consideration transferred for the acquisition was $9.6 million. The transaction is a non-adjusting event after the reporting period and accordingly no adjustment has been made to the amounts recognised in these financial statements. 10. Government funding BaptistCare would like to acknowledge the following Government Departments which fund programmes that BaptistCare operates or conducts: •

Australian Government: Attorney-General's Department, Department of Health, Disability and Ageing, Department of Social Services, Department of Home Affairs and National Disability Insurance Agency (NDIA), Department of Veterans’ Affairs; Department of Infrastructure, Transport, Regional Development, Communications and Arts.

•

New South Wales Government: Department of Communities and Justice, NSW Health (through various Local Health Districts), NSW Reconstruction Authority, Transport for NSW, Corrective Services NSW, NSW Fair Trading and NSW Department of Planning, Housing and Infrastructure.

•

Australian Capital Territory Government: ACT Government Health and ACT Government Community.

•

Western Australia Government: Department of Communities.

•

Victoria Government: Department of Families, Fairness and Housing, Department of Health Victoria, and Homes Victoria.

•

South Australia Government: Department of Child Protection, Department of Health directly and through Local Health Networks and Department of Human Services.

•

Tasmania Government: Tasmanian Department of Health, Department for Education, Children and Young People, Primary Health Tasmania and Department of Premier and Cabinet.

11. Lead auditor’s independence declaration The lead auditor’s independence declaration is set out on page 11 and forms part of the Directors’ report for the financial year ended 30 June 2026.

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BaptistCare Directors’ report (continued) For the year ended 30 June 2026 12. Rounding off BaptistCare is of a kind referred to in ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191 and in accordance with that instrument, amounts in the financial report and Directors’ report have been rounded off to the nearest thousand dollars, unless otherwise stated. This Directors’ report is made out in accordance with a resolution of the Directors.

Tim Farren Chair Dated at Sydney, this 9th day of October 2026

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Auditor’s Independence Declaration under subdivision 60-C section 60-40 of Australian Charities and Not-for-profits Commission Act 2012 To the Directors of BaptistCare I declare that, to the best of my knowledge and belief, in relation to the audit for the financial year ended 30 June 2026 there have been: i.

no contraventions of the auditor independence requirements as set out in the Australian Charities and Not-for-profits Commission Act 2012 in relation to the audit; and

ii.

no contraventions of any applicable code of professional conduct in relation to the audit.

KPM_INI_01 PAR_SIG_01

PAR_NAM_01

PAR_POS_01

PAR_DAT_01

PAR_CIT_01

KPMG

Shara Learmonth Partner Sydney 9 October 2026

11 KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation. Liability limited by a scheme approved under Professional Standards Legislation.

BaptistCare Consolidated Statement of profit or loss and other comprehensive income for the year ended 30 June 2026

Consolidated statement of profit or loss and other comprehensive income

In thousands of AUD

Note

2026

2025

Revenue Other income Fair value gain on investment properties Revenue and other income

4 4 4, 10

1,364,972 28,910 103,374 1,497,256

927,457 534,275 58,900 1,520,632

Employee expenses Property expenses Depreciation and amortisation expenses Impairment of assets Service delivery expenses Capital gain expense Business support expenses Expenses

(965,472) (58,123) (63,721) (138,921) (64,117) (105,310) (1,395,664)

(677,783) (42,194) (45,508) (3,164) (87,766) (21,810) (67,534) (945,759)

Surplus before net finance income

101,592

574,873

Finance income Finance costs Net finance costs

25,411 (83,452) (58,041)

21,624 (78,256) (56,632)

Surplus for the year before income tax

43,551

518,241

Income tax benefit Surplus for the year

702 44,253

518,241

Items that are or may be reclassified subsequently to profit or loss: Investment portfolio at fair value through other comprehensive income – net change in fair value

455

1,189

Items that will not be reclassified subsequently to profit or loss: Investment portfolio at fair value through other comprehensive income – net change in fair value

6,710

10,690

Total comprehensive income for the year

51,418

530,120

11, 12 17

Other comprehensive income

The notes on pages 16 to 42 are an integral part of these financial statements.

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BaptistCare Consolidated Statement of financial position As at 30 June 2026

Consolidated statement of financial position

In thousands of AUD

Assets Cash and cash equivalents Term deposits Receivables Investments Inventories Total current assets Investments Investment properties Property, plant and equipment Intangible assets Deferred tax assets Total non-current assets Total assets Liabilities Trade and other payables Refundable loans Loans and borrowings Employee benefits Provisions Contract liabilities Current tax liabilities Total current liabilities Loans and borrowings Employee benefits Contract liabilities Total non-current liabilities Total liabilities Net assets Accumulated funds Reserves Retained earnings Total accumulated funds

Note

2026

2025

133,169 120,047 90,124 7,714 464 351,518

178,107 134,096 83,466 21,345 549 417,563

9 10 11 12

273,346 2,273,429 1,572,531 3,265 2,687 4,125,258 4,476,776

252,735 1,346,791 1,570,411 1,819 3,171,756 3,589,319

13 14 15 16 17 18

87,735 2,532,769 13,709 151,485 253,017 22,569 1,985 3,063,269

80,549 1,922,842 10,890 141,514 123,772 28,413 2,307,980

15 16 18

273,830 12,180 30,269 316,279 3,379,548 1,097,228

198,966 7,186 29,377 235,529 2,543,509 1,045,810

282,982 814,246 1,097,228

275,817 769,993 1,045,810

8 9

The notes on pages 16 to 42 are an integral part of these financial statements.

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BaptistCare Consolidated Statement of changes in funds for the year ended 30 June 2026

Consolidated statement of changes in funds

In thousands of AUD Balance at 1 July 2024

Fair value reserve

Revaluation reserve

Retained earnings

Total funds

19,720

244,218

251,752

515,690

Surplus for the year Other comprehensive income Investment portfolio at fair value through other comprehensive income - net change in fair value Total comprehensive income for the year Balance at 30 June 2025

518,241

11,879 11,879 31,599

244,218

518,241 769,993

11,879 530,120 1,045,810

Balance at 1 July 2025

31,599

244,218

769,993

1,045,810

44,253

7,165 7,165 38,764

244,218

44,253 814,246

7,165 51,418 1,097,228

The notes on pages 16 to 42 are an integral part of these financial statements.

Restricted for internal use only14

BaptistCare Consolidated Statement of cash flows for the year ended 30 June 2026 Consolidated statement of cash flows

In thousands of AUD

Note

2026

2025

1,386,614 (1,338,724) 47,890 17,401 (3,540) 8,766 70,517

905,051 (833,925) 71,126 12,156 (5,689) 9,745 87,338

Cash flows from investing activities Payments for property, plant and equipment Acquisition of investment properties Proceeds from interest-bearing deposits Investment in investment portfolio Payments for acquisition of business (net of cash acquired) Proceeds from disposal of property, plant and equipment Net cash used in investing activities

(68,920) (47,441) 14,049 (162,444) 11,020 (253,736)

(63,666) (7,460) 2,429 (22,284) (14,859) (105,840)

Cash flows from financing activities Net cash inflow from residential aged care accommodation bonds Net cash inflow from retirement village ingoing contributions Loan repayment to Housing Australia Payment of lease liabilities Net cash inflow from drawdown of loan facility Net cash from financing activities

42,802 24,975 (5,913) 76,417 138,281

59,926 50,453 (6,000) (2,826) 101,553

Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at beginning of the year Cash and cash equivalents at end of the year

(44,938) 178,107 133,169

83,051 95,056 178,107

Cash flows from operating activities Cash receipts from residents, clients, government subsidies and other income Cash paid to suppliers, residents and employees Cash generated from operations Dividends received Interest paid Interest received Net cash from operating activities

The notes on pages 16 to 42 are an integral part of these financial statements.

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BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026

Notes to the consolidated financial statements

1. Reporting entity BaptistCare is a public company limited by guarantee and is recognised as a Public Benevolent Institution domiciled in Australia. The address of BaptistCare’s registered office is 22 Brookhollow Avenue, Norwest, NSW 2153. The financial statements are as at and for the year ended 30 June 2026. These consolidated financial statements comprise the Company and its subsidiaries (together referred to as the ‘Group’). During the year, the Group expanded its operations through the acquisition and transfer of operations of Sunrise Supported Living Tuncurry and its associated Sunrise Home Care business on the NSW Mid North Coast. Sunrise Supported Living comprises 106 independent living units, while Sunrise Home Care provides services to residents of the village and clients across the broader Mid North Coast region. Approximately 90 employees transferred to BaptistCare as part of the transition. The Group also entered into an agreement with Keyton to acquire its Western Australian retirement village portfolio. The portfolio comprises 10 retirement villages across Western Australia, including eight in metropolitan Perth, one in Mandurah and one in Bunbury. The portfolio comprises 1,639 homes, including 1,568 independent living units and 71 independent living apartments, and is home to more than 2,080 residents. BaptistCare has assumed operational control of the villages as part of the transition. In 2025, BaptistCare completed the merger with Baptcare Ltd and its controlled entities, and Baptist Care (SA) Incorporated. As such, the comparative financial information for the year ended 30 June 2025 included the results of Baptcare Ltd and Baptist Care (SA) Incorporated for 4 months from 1 March 2025 and may not be entirely comparable. Following the merger, the entity changed its legal name from BaptistCare NSW & ACT to BaptistCare on 16 June 2025. The Group is a not-for-profit entity and is primarily involved in the provision of aged care services, psychosocial support programs, local area coordination, early childhood intervention services under the National Disability Insurance Scheme (NDIS), affordable housing solutions and asylum seeker accommodation and support services. 2. Basis of preparation Statement of compliance In the opinion of the Directors, BaptistCare is not publicly accountable. These consolidated financial statements are Tier 2 general purpose financial statements which have been prepared in accordance with Australian Accounting Standards – Simplified Disclosures adopted by the Australian Accounting Standards Board and the Australian Charities and Not-for-profit Commission Act 2012. These consolidated financial statements were approved by the Board of Directors on 9 October 2026. Basis of measurement The financial statements have been prepared on the historical cost basis, except for investment properties, equity securities, debt securities and managed funds, which are measured at fair value. Functional and presentation currency These consolidated financial statements are presented in Australian dollars, which is BaptistCare’s functional currency. Amounts in the financial statements are rounded off to the nearest thousand dollars, unless otherwise indicated. Use of estimates and judgements The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the application of the Group’s accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected.

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BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026

2. Basis of preparation (continued) (d) Use of estimates and judgements (continued) (i) Assumption and estimation uncertainties Information about assumptions and estimation uncertainties at the reporting date that have a significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next financial year is included in the following notes: -

Notes 3(j), 17 and 22: recognition and measurement of provisions and contingencies: key assumptions about the likelihood and magnitude of an outflow of resources.

Note 3(c) and 10: fair valuation of investment properties.

Note 3(n) and 20: acquisition of subsidiary: fair value of the consideration transferred and fair value of the assets acquired and liabilities assumed, measured on a provisional basis.

Going concern basis of preparation The financial statements have been prepared on a going concern basis, which contemplates the continuity of normal business activities and the realisation of assets and settlement of liabilities in the ordinary course of business. At 30 June 2026, the Group has net assets of $1,097,228,000 (2025: $1,045,810,000) but a net deficiency in working capital (current liabilities exceed current assets) of $2,711,751,000 (2025: $1,890,417,000). Included in current liabilities is an amount of $2,532,769,000 (2025: $1,922,842,000) related to refundable loan arrangements. The deficiency in working capital arises because Australian Accounting Standards require the Group to classify obligations under the refundable loan agreements as current liabilities as the Group does not have the right to unconditionally defer payment beyond 12 months. However consistent with experience the Group expects repayment of refundable loans to be replaced by new residents. During the year, net cash inflow from residential aged care accommodation bonds amounted to $42,802,000 (2025: $59,926,000) and net cash inflow from retirement village amounted to $24,975,000 (2025: $50,453,000) as presented in the statement of cash flow. Further, the Group has available capital that it could draw down from within the investment portfolio totalling $273,346,000 (2025: $252,735,000) as disclosed in Note 9, to meet its financial obligations as they fall due and payable for the 12-month period from the date of the signed Directors’ Declaration. 3. Summary of material accounting policies The accounting policies set out below have been applied consistently to all periods presented in these financial statements. (a) Revenue recognition policy Revenue from contracts with customers (AASB 15) The Group recognises revenue from contracts with customers when control of goods or services is transferred to the customer. Revenue is measured based on the consideration specified in the relevant contract, excluding amounts collected on behalf of third parties. Aged care, home care and other service revenue The Group recognises revenue from aged care, home care and other services over time as performance obligations are satisfied, which is as the services are rendered, primarily on a daily or monthly basis. Revenue arises from discretionary and non-discretionary services as agreed in contractual agreements with residents and clients. Fees received in advance of services performed are recognised as contract liabilities which are included within Trade and other payables. Recurrent grants Where an agreement is enforceable and contains sufficiently specific performance obligations, the revenue is recognised over time as the performance obligations to the grant agreement are fulfilled. Restricted for internal use only17

BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026

3. Summary of material accounting policies (continued) (a) Revenue recognition policy (continued) Income of not-for-profit entities (AASB 1058) Grants – capital Capital grants received under an enforceable agreement to enable the Group to acquire or construct an item of property, plant and equipment to identified specifications which will be controlled by BaptistCare are recognised as revenue as and when the obligation to construct or purchase is completed. For construction projects, this is generally as the construction progresses in accordance with costs incurred. For acquisition of assets, the revenue is recognised when the asset is acquired and controlled by the Group. Nature of revenue and cash flows Further detail on the nature of revenue and cash flows is included in the table below. Type of revenue

Description

Government revenue – aged care and home care

Government revenue reflects the Group’s entitlement to revenue from the Australian Government under the Aged Care Act 1997 and the Aged Care Act 2024 from 1 November 2025 based upon the specific care needs of residents and clients. Revenue is recognised over time as services are provided. Funding claims are submitted to the Government and are usually payable within one month of services being performed.

Government revenue – recurrent grants

Recurrent grants are received from the State and Federal Government to deliver outcome-based services on a range of programs to provide support to those most vulnerable in the community. Revenue is recognised over time as performance obligations are met. Funding is usually received in advance with a contract liability recorded for unspent funds.

Resident and client income

Residents and clients are charged a basic daily fee as a contribution to the provision of care. The quantum of resident and client fees is regulated by the Government. Basic daily fees are invoiced on a monthly basis and revenue is usually payable within 30 days.

Tenancy rental

Rent income from operating leases with tenants is recognised on a straight-line basis over the lease term.

(b) Financial instruments (i) Recognition and initial measurement Receivables are initially recognised when they originate. All other financial assets and financial liabilities are initially recognised when the Group becomes a party to the contractual provisions of the instrument. A financial asset or financial liability is initially measured at fair value plus transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price. (ii) Classification and subsequent measurement Financial assets On initial recognition, a financial asset is classified and measured at: amortised cost; fair value through other comprehensive income (FVOCI) or fair value through profit or loss (FVTPL). Financial assets are not reclassified subsequent to their initial recognition, except if in the period the Group changes its business model for managing financial assets. Restricted for internal use only18

BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026

3. Summary of material accounting policies (continued) (b) Financial instruments (continued) A financial asset is measured at amortised cost if it meets both of the following conditions and is not designated as at FVTPL:

•

The asset is held within a business model whose objective is to hold assets to collect contractual cash flows; and

•

The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

A debt investment is measured at fair value through Other Comprehensive Income (OCI) if it meets both of the following conditions and is not designated as at FVTPL:

•

The asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and

•

The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

On initial recognition of an equity investment that is not held for trading, the Group may irrevocably elect to present subsequent changes in the investment’s fair value in OCI. This election is made on an investment-by-investment basis. Subsequent measurement and gains and losses Financial assets at amortised cost

These assets are subsequently measured at amortised cost using the effective interest method. The amortised cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognised in profit or loss. Any gain or loss on derecognition is recognised in the surplus for the year.

Equity instruments at FVOCI

These assets are subsequently measured at fair value. Dividends are recognised as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. For equity instruments other net gains and losses are recognised in OCI and are never reclassified to the surplus for the year.

Debt instruments at FVOCI

These assets are subsequently measured at fair value. Interest income calculated under the effective interest method, foreign exchange gains and losses and impairment are recognised in profit or loss. Other net gains and losses are recognised in OCI. On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss.

Debt and equity instruments at FVTPL

These assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognised in profit or loss.

Financial liabilities Financial liabilities are measured at amortised cost using the effective interest rate method. Any gain or loss on derecognition is recognised in profit or loss. (c) Investment properties (i) Recognition and measurement Investment properties comprise Independent Living Units of the Group. Independent Living Units are held to earn rent or for capital appreciation rather than service delivery obligations. Restricted for internal use only19

BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026

3. Summary of material accounting policies (continued) (c) Investment properties (continued) (i) Recognition and measurement (continued) Investment properties are initially recognised at cost including any acquisition costs, and are held to generate income from deferred management fees and the Group’s share of the change in the market value of the investment. Subsequent to initial recognition, investment properties are stated at fair value at each balance date. Changes in fair value are presented in the consolidated statement of profit or loss and other comprehensive income as a part of change in fair value of investment properties. If an investment property is disposed, the gain or loss on disposal is calculated as the difference between the carrying amount of the asset at the time of the disposal and the net proceeds on disposal and is recognised in the consolidated statement of profit or loss and other comprehensive income in the year of disposal. (d) Property, plant and equipment (ii) Recognition and measurement Items of property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the asset. The cost of self-constructed assets includes the cost of materials and direct labour, any other costs directly attributable to bringing the assets to a working condition for their intended use, the costs of dismantling and removing the items and restoring the site on which they are located. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment. Gains and losses on disposal of an item of property, plant and equipment are determined by comparing the proceeds from disposal with the carrying amount of property, plant and equipment and are recognised net within the statement of profit or loss and other comprehensive income. (iii) Subsequent costs The cost of replacing part of an item of property, plant and equipment is recognised in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Group and its cost can be measured reliably. The carrying amount of the replaced part is derecognised. The costs of the day-to-day servicing of property, plant and equipment are recognised as property expenses in the statement of profit or loss and other comprehensive income as incurred. Depreciation Depreciation is calculated over the depreciable amount, which is the cost of an asset, or other amount substituted for cost, less its residual value. Depreciation is recognised in the statement of profit or loss and other comprehensive income on a straight-line basis over the estimated useful lives of each part of an item of property, plant and equipment, since this most closely reflects the expected pattern of consumption of the future economic benefits embodied in the asset. Land is not depreciated. The estimated useful lives for the current and comparative periods are as follows: • • • • • •

Buildings Leasehold improvements Plant, furniture, and equipment Computer equipment Motor Vehicles Leased land

25 - 50 years 3 - 40 years 3 - 40 years 3 - 5 years 5 - 10 years Lease term

Depreciation methods, useful lives and residual values are reviewed at each financial year-end and adjusted if appropriate. Restricted for internal use only20

BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026

3. Summary of material accounting policies (continued) (e) Intangible assets (i) Recognition and measurement Computer software Computer software is recognised as an intangible asset unless the software is integral to the operation of the related property, plant and equipment. Computer software treated as an intangible asset is initially recognised at cost and subsequently measured at cost less accumulated amortisation and any accumulated impairment loss (see Note 12). Goodwill Goodwill arising on the acquisition of subsidiaries is measured at cost less accumulated impairment losses. Other intangible assets Other intangible assets, including customer contracts, that are acquired by the Group and have finite useful lives are measured at cost less accumulated amortisation and any accumulated impairment losses. (ii) Subsequent expenditure Subsequent expenditure is capitalised only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure is recognised in property expenses in the statement of profit or loss and other comprehensive income as incurred. (iii) Amortisation Amortisation is calculated over the cost of the asset less its residual value. Amortisation is recognised in the statement of profit or loss and other comprehensive income on a straight-line basis over the estimated useful lives of intangible assets from the date they are available for use, since this most closely reflects the expected pattern of consumption of the future economic benefits embodied in the asset. The estimated useful lives for the current and comparative periods are as follows: • Computer software • Customers contracts

3 - 5 years 6 years

Amortisation methods, useful lives and residual values are reviewed at each financial year-end and adjusted if appropriate. (iv) Software-as-a-Service (SaaS) arrangement SaaS arrangements are service contracts providing the Group with the right to access the cloud provider’s application software over the contract period. As such, the Group does not receive a software intangible asset at the contract commencement date. A right to receive future access to the supplier’s software does not, at the contract commencement date, give the customer the power to obtain the future economic benefits flowing from the software itself and to restrict other’s access to those benefits. Costs incurred for the development of software code that enhances or modifies, or creates additional capability to, existing on-premises systems and meets the definition of and recognition criteria for an intangible asset are recognised as intangible software assets. (f) Inventories Inventories are measured at the lower of cost and net realisable value. The cost of inventories is based on the firstin first-out principle, and includes expenditure incurred in acquiring the inventories, and other costs incurred in bringing them to their existing location and condition. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and selling expenses.

Restricted for internal use only21

BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026

3. Summary of material accounting policies (continued) (g) Impairment (i) Financial assets The Group recognises loss allowances for expected credit losses on financial assets measured at amortised cost and contract assets (e.g. bid costs). Credit impaired financial assets At each reporting date, the Group assesses whether financial assets carried at amortised cost are credit impaired. A financial asset is ‘credit impaired’ when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. Presentation of allowance for expected credit losses in the statement of financial position Loss allowances for financial assets measured at amortised cost are deducted from the gross carrying value of the assets. Write off The gross carrying amount of a financial asset is written off to the extent that there is no realistic prospect of recovery. This is generally the case when the Group determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. (ii) Non-financial assets The carrying amounts of the Group’s non-financial assets, other than inventories and investment properties, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. Goodwill is tested annually for impairment. For intangible assets that have indefinite useful lives or that are not yet available for use, the recoverable amount is estimated each year at the same time. The recoverable amount of an asset or cash-generating unit is the greater of its fair value less costs of disposal and value in use. For the purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the “cash-generating unit”). Goodwill arising from a business combination is allocated to cashgenerating units or groups of cash-generating units that are expected to benefit from the synergies of the combination. The Group’s corporate assets do not generate separate cash inflows. If there is an indication that a corporate asset may be impaired, then the recoverable amount is determined for the cash-generating unit to which the corporate asset belongs. An impairment loss is recognised if the carrying amount of an asset or its cash-generating unit exceeds its estimated recoverable amount. Impairment losses are recognised in impairment loss in the statement of profit or loss and other comprehensive income. They are allocated first to reduce the carrying amount of any goodwill allocated to the cash-generating unit, and then to reduce the carrying amounts of the other assets in the cash-generating unit on a pro rata basis. An impairment loss in respect of goodwill is not reversed. For other assets, an impairment loss is revered only to the extent the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss has been recognised. (h) Leases At inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

Restricted for internal use only22

BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026

3. Summary of material accounting policies (continued) (h) Leases (continued) As a lessee The Group recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use assets is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group's incremental borrowing rate. Generally, the Group uses its incremental borrowing rate as the discount rate. The Group determines its incremental borrowing rate by obtaining interest rates from various external financing sources and makes certain adjustments to reflect the terms of the lease and type of asset leased. The Group presents right-of-use assets that do not meet the definition of investment property in 'property, plant and equipment' and lease liabilities in 'loans and borrowings' in the statement of financial position. Short term leases and leases of low value assets The Group has elected not to recognise right-of-use assets and lease liabilities for leases of low-value assets and short-term leases, including IT equipment. The Group recognises the lease payments associated with these leases as an expense on a straight-line basis over the lease term. Peppercorn or concessionary leases The Group is a party to 22 arrangements which would meet the definition of a peppercorn or concessionary lease. As allowed by AASB 16, the Group has elected to record these leases at cost rather than fair value. As a lessor Residential aged care For residents receiving residential aged care services under a refundable accommodation deposit (RAD) or accommodation bond agreement, the Group has determined these arrangements are considered leases for accounting purposes under AASB 16 Leases, with the Group acting as lessor. The Group discloses Daily Accommodation Payments (DAP), Daily Accommodation Contributions (DAC) and accommodation supplement revenue under lease income, separate from revenue from contracts with customers (refer Note 4). Under the Aged Care Act 2024, Approval Providers deduct a retention amount from the RAD paid by residents who entered care on or after 1 November 2025. The amount is calculated daily at a rate of 2% per annum of the outstanding RAD balance, capped at 10% over 5 years. Retirement villages Deferred management fee (DMF) revenue represents the fee that is contractually deducted from the ingoing contribution that is repaid to a resident upon exit from a retirement village. DMF revenue is recognised over the expected period of the resident’s occupancy. The Group discloses this revenue under lease income, separately from revenue from contracts with customers (refer Note 4).

Restricted for internal use only23

BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026

3. Summary of material accounting policies (continued) (i) Employee benefits (i) Defined contributions plans A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution plans are recognised as employee expenses in the statement of profit or loss and other comprehensive income in the periods during which services are rendered by employees. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in future payments is available. (ii) Other long-term employee benefits The Group’s net obligation in respect of long-term employee benefits is the amount of future benefit that employees have earned in return for their service in the current and prior periods plus related on-costs; that benefit is discounted to determine its present value and the fair value of any related assets is deducted. The provision for employee benefits for long service is calculated using expected future increases in wage and salary rates including related on-costs and expected settlement dates based on turnover history and is discounted using the rates attaching to corporate bonds at reporting date which most closely match the terms of maturity of the related liabilities. The unwinding of the discount is treated as long service leave expense. (iii) Short-term employee benefits Short-term employee benefits are expensed as the related service is provided. A liability is recognised for the amount expected to be paid if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably. (j) Provisions A provision is recognised if, as a result of a past event, the Group has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a rate that reflects current market assessments of the time value of money and the risks specific to the liability. (i) Make good A make good provision is recognised when the Group enters into a lease contract that requires the property to be returned to the lessor in its original condition. The provision is based on the expected future cost of the refurbishment discounted to reflect current market assessments. (ii) Restructuring – redundancies A provision for restructuring is recognised when the Group has approved a detailed and formal restructuring plan, and the restructuring either has commenced or has been announced publicly. Future operating losses are not provided. (iii) Capital gain sharing provision Capital gain sharing provision is recognised for the Group’s contractual obligation to share capital gains on retirement village units with residents. (k) Retirement villages income and expenditure The Group maintains separate resident statements of income and expenditure in accordance with the Retirement Villages Act 1999 (NSW), Retirement Villages Act 1992 (WA), Retirement Villages Act 1986 (VIC), Retirement Villages Act 2012 (ACT), and Retirement Villages Act 2004 (TAS) (The Acts). The resident income and expenditure is controlled by the residents' committees. The Group records the net surplus on the income and expenditure statement as a liability to the individual village. The Group is required to make good any deficit of a retirement village in accordance with the Acts.

Restricted for internal use only24

BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026

3. Summary of material accounting policies (continued) (l) Finance income and finance costs Finance income comprises interest income on funds invested, and dividend income. Interest income is recognised as it accrues in finance income in the statement of profit or loss and other comprehensive income, using the effective interest method. Dividend income is recognised in finance income in the statement of profit or loss and other comprehensive income on the date that the Group’s right to receive payment is established, which in the case of quoted securities is the ex-dividend date. Finance costs comprise the unwinding of the discount on finance leases and interest expense on the loan which is recognised using the effective interest method. (m) Income tax The majority of entities with the BaptistCare group are charitable entities exempt from income tax under Division 50 of the Income Tax Assessment Act 1997. Where entities within the group are subject to income tax, tax expense has been recognised in accordance with applicable accounting standards. (n) Business of consolidation (i) Business Combination The Group accounts for business combinations using the acquisition method when control is transferred to the Group and the acquired set of activities and assets meets the definition of a business under AASB 3 Business Combinations. The acquisition date is the date on which control of the acquired business is obtained. The consideration transferred is measured at fair value at the acquisition date. The Group recognises the identifiable assets acquired and liabilities assumed at their acquisition-date fair values, except for assets and liabilities for which specific measurement requirements are prescribed by Australian Accounting Standards. Acquisition-related costs, other than those associated with the issue of debt or equity securities, are recognised as expenses as incurred. Goodwill is measured as the excess of the consideration transferred, together with any non-controlling interest and the fair value of any previously held interest, over the fair value of the identifiable net assets acquired. Where the fair value of the identifiable net assets acquired exceeds the consideration transferred and any other amounts included in the calculation of goodwill, the resulting gain on a bargain purchase is recognised immediately in surplus or deficit after reassessment of the acquisition accounting. Where the initial accounting for a business combination is incomplete at the end of the reporting period, provisional amounts are recognised for items for which the accounting cannot be finalised. During the measurement period, provisional amounts are retrospectively adjusted to reflect new information about facts and circumstances that existed at the acquisition date. The measurement period cannot exceed one year from the acquisition date. During the year, the Group completed the acquisitions of the Keyton Western Australia retirement village portfolio and Sunrise Group. Both transactions have been accounted for as business combinations in accordance with AASB 3. Further details are disclosed in Note 20 Business combinations. (ii) Subsidiaries Subsidiaries are entities controlled by the Group. The Group ‘control’ an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statement of subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on which control ceases (iii) Loss of control When the Group loses control over subsidiary, it derecognises the assets and liabilities of the subsidiary and other components of equity. Any resulting gain or loss is recognised in profit or loss. Any interest retained in the former subsidiary is measured at fair value when control is lost. Restricted for internal use only25

BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026

3. Summary of material accounting policies (continued) (n) Business of consolidation (continued) (iv) Transaction eliminated on consolidation Intra-group balances and transactions, and any unrealised income and expenses arising from intragroup transactions, are eliminated. Unrealised gains from transactions with associates are eliminated against the investment to the extent of the Group’s interest in the investee. Unrealised losses are eliminated in the same way as unrealised gains, but only to the extent that there is no evidence of impairment. (o) Change in material accounting policies A number of new standard and amendments were effective from 1 July 2025, but they do not have a material effect on the Group’s financial statements.

Restricted for internal use only26

BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026 4. Revenue and other income In thousands of AUD Revenue from contracts with customers Government Income Department of Health & Aged Care funding Other government funding Total government income Resident income Basic daily care fee Other resident fee income Total resident income Revenue from leasing Accommodation income – resident Deferred management fee income Rental income Imputed interest on refundable accommodation bond Total revenue Note Other income Gain on bargain purchase Net gain on disposal of assets Net gain on sale of investments Insurance claim income Donations and bequests Other income Total other income Fair value gain on investment properties Total revenue and other income

2026

2025

908,412 119,751 1,028,163

629,676 57,130 686,806

148,029 19,885 167,914

104,029 10,471 114,500

28,520 42,523 17,940 79,912 168,895 1,364,972

19,760 21,340 13,139 71,912 126,151 927,457

2026

2025

929 879 161 5,608 21,333 28,910 103,374 1,497,256

495,980 9,015 4,655 3,214 3,611 17,800 534,275 58,900 1,520,632

The Group discloses income received under AASB 16 separately from revenue from contracts with customers. These amounts relate to income received in relation to the provision of accommodation to residents. 5. Employee expenses In thousands of AUD Wages and salaries Other associated personnel expenses Workers' compensation expense Contributions to defined contribution plans

2026

2025

711,365 125,876 37,661 90,570 965,472

496,495 97,125 36,654 47,509 677,783

Restricted for internal use only27

BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026

6. Finance income and finance costs In thousands of AUD

2026

2025

Interest income Dividend income on equity securities Finance income

8,226 17,185 25,411

9,938 11,686 21,624

Imputed interest cost on refundable accommodation bonds Interest on lease liability Interest on borrowings Finance costs Net finance costs

(79,912) (766) (2,774) (83,452) (58,041)

(71,912) (655) (5,689) (78,256) (56,632)

2026

2025

75,369 57,800 133,169

33,907 144,200 178,107

7. Cash and cash equivalents In thousands of AUD Cash at bank and on hand Bank deposits at call

At 30 June 2026, the Group held $2.7 million (2025: $Nil) in a restricted bank account. The account was established in connection with the Group’s debt facility and cannot be used for general operating purposes, traded on or closed without the consent of Housing Australia. Accordingly, the balance is not available for general use by the Group. 8. Receivables In thousands of AUD Current Trade receivables Deposits receivable Other receivables and prepayments Provision for impairment losses

2026

2025

30,174 1,310 62,587 (3,947) 90,124

35,235 9,264 41,316 (2,349) 83,466

The movement in the allowance for impairment in respect of receivables during the year was as follows: In thousands of AUD Balance at the beginning of the year Charge for the year Amounts written off Balance at end of the year

2026

2025

2,349 4,653 (3,055) 3,947

1,036 1,772 (459) 2,349

2026

2025

7,714 7,714

21,345 21,345

273,346 273,346

252,735 252,735

9. Investments In thousands of AUD Current Investment portfolio classified at fair value through profit and loss Non-current Investment portfolio classified at fair value through other comprehensive income

The carrying value of the investment portfolio is equal to its fair value at 30 June 2026 and 30 June 2025.

Restricted for internal use only28

BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026 10. Investment properties In thousands of AUD Independent Living Units

2026

2025

2,273,429

1,346,791

Investment properties comprise Independent Living Units (‘ILU’) in Retirement Villages located throughout Victoria, Tasmania, New South Wales, Australian Capital Territory and Western Australia. The retirement villages are subject to loan licence or leasehold agreements which confer the right to occupancy of the unit until such time as the resident’s occupancy terminates and the occupancy rights are transferred to another resident. Upon entry, a resident will loan the Group an amount equal to the fair value of the unit. On termination, the resident is entitled to repayment of the loan inclusive of a share in fair value uplift since the agreement date (if included in the contract), less a deferred management fee. In thousands of AUD Fair value at beginning of the year Additions Acquired through business combination (Note 20) Transfers from property plant and equipment (Note 11) Change in fair value of investment properties (Note 4) Closing net carrying amount

2026

2025

1,346,791 47,441 775,823 103,374 2,273,429

908,289 7,410 351,230 20,962 58,900 1,346,791

The fair value adjustment of $103,374,000 represents the outcome of the annual valuation review of the Group’s portfolio in accordance with the accounting policy. During the year, the Group acquired retirement village properties as part of the Keyton Western Australia and Sunrise Group business combinations. The acquired investment properties were initially recognised at their acquisition-date fair values in accordance with AASB 3 Business Combinations and are subsequently measured to fair value at 30 June 2026 in accordance with AASB 140 Investment Property. The acquisition-date fair values of the Keyton and Sunrise Group retirement village portfolios were supported by independent valuations undertaken by Colliers, with other tangible assets acquired generally recognised at amounts that approximated their fair values. Information regarding the acquisition-date fair values of assets acquired and liabilities assumed is included in Note 20. Fair Value The existing Independent Living Units were independently valued by Ernst & Young at 30 June 2026, with the investment properties relating to those acquired in the Keyton and Sunrise Group acquisitions separately valued by Colliers on acquisition date and subsequently at balance date. The basis of the Independent Living Units valuation was fair value using a discounted cash flow technique. The fair value of Independent Living Units was determined to be the aggregate of the resident entry contributions, expressed as a nominal value and including capital gain share, the net fair value of occupied properties on a going concern basis and the fair value of any new unsold properties. The measurement of fair value may in some cases be subjective and may depend on the inputs used in the calculations.

Restricted for internal use only29

BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026

10. Investment properties (continued) The key assumptions used in determining the fair value for the Group’s portfolio of properties were in the following ranges: Inputs used to measure fair value

Range of inputs - 2026

Range of inputs - 2025

12.00% – 15.75%

14.50% – 17.0%

Property growth rates

2.82%-4.32%

2.65% – 3.25% per annum

Market value of units

Specific to each retirement village

Average tenure period

4 – 10 years

9 – 14 years

Discount rates

Increasing the discount rate and average subsequent tenure periods would reduce the fair value of the investment properties and vice-versa. Increasing the assumptions made about the market value of units and property price growth rates would increase the fair value of investment properties and vice-versa. The valuation has been disclosed in the financial statements to record separately the investment property asset and the amount of the resident loan liabilities as follows: Valuation reconciliation In thousands of AUD Investment property gross Less: capital work in progress* Investment property (excluding capital works in progress) Less: refundable loans - ingoing contributions* (Note 14) Less: deferred revenue (Note 18) Less: capital gain provision (Note 17) Net valuation

2026

2025

2,273,429 (1,055) 2,272,374 (1,351,377) (31,459) (224,273) 665,265

1,346,791 (7,411) 1,339,380 (784,213) (32,052) (84,494) 438,621

* Excludes ingoing contributions from two independent unit villages within Property, Plant and Equipment that continue to be held for service delivery obligations.

Restricted for internal use only30

BaptistCare Notes to the consolidated financial statements for the year ended 30 June 2026

11. Property, plant, and equipment

In thousands of AUD Cost or deemed cost Balance at 1 July 2025 Additions Acquired through business combinations (Note 20) Transfer (from) / to capital works in progress Write-off Disposals Balance at 30 June 2026 Accumulated depreciation Balance at 1 July 2025 Depreciation for the year Disposals Balance at 30 June 2026 Carrying amounts At 1 July 2025 At 30 June 2026

Buildings

Plant, furniture & equipment

Computer equipment

Motor vehicles

Leased assets

Capital works in progress

Total

464,287 4,138

1,146,438 7,165

140,785 9,069

20,335 4,666

11,723 1,488

47,034 7,179

57,712 42,394

1,888,314 76,099

210

38 (20) 468,443

3,889 (216) 1,157,276

6,254 (3,910) 152,198

(17) (40) 24,944

(64) (1,745) 11,612

28 (4,292) 49,949

(10,128) (1,378) (8,976) 79,624

(1,378) (19,199) 1,944,046

712 213 925

210,959 36,104 (48) 247,015

69,119 12,609 (3,805) 77,923

9,810 4,722 (40) 14,492

4,694 2,479 (1,231) 5,942

22,609 6,594 (3,985) 25,218

317,903 62,721 (9,109) 371,515

463,575 467,518

935,479 910,261

71,666 74,275

10,525 10,452

7,029 5,670

24,425 24,731

57,712 79,624

1,570,411 1,572,531

Freehold land & Improvements

Restricted for internal use only31

BaptistCare Notes to the financial statements (continued) for the year ended 30 June 2026 12. Intangible assets Computer software

Customer contract

Goodwill

Total

Cost Balance at 1 July 2025 Additions Disposals Balance at 30 June 2026

11,779 (187) 11,592

3,007 1,487 (1) 4,493

960 960

14,786 2,447 (188) 17,045

Amortisation Balance at 1 July 2025 Amortisation for the year Disposals Balance at 30 June 2026

11,753 18 (187) 11,584

1,214 982 2,196

12,967 1,000 (187) 13,780

26 8

1,793 2,297

960

1,819 3,265

2026

2025

5,619 34,578 29,037 10,452 8,049 87,735

16,810 29,476 26,486 4,835 2,942 80,549

In thousands of AUD

Carrying amounts At 1 July 2025 At 30 June 2026 13. Trade and other payables In thousands of AUD Current Trade payables Accrued expenses Accrued workers compensation payable Deferred income Capital works fund - Retirement Villages Capital works fund – Retirement Village

In accordance with the NSW Retirement Villages Act 1999, ACT Retirement Villages Act 2012, WA Fair Trading (Retirement Villages Code) Regulations 2022, VIC Retirement Villages Act 1986 and TAS Retirement Villages Act 2004, the operator of a retirement village may maintain a capital works fund. The Acts and regulation stipulates that the operator of the retirement village must not use the capital works fund except to meet the cost of capital maintenance, or as agreed by the residents of the retirement village, or as prescribed by the Regulations. 14. Refundable loans In thousands of AUD Current Refundable residential aged care accommodation bonds Refundable retirement village ingoing contributions

2026

2025

1,181,117 1,351,652 2,532,769

1,138,315 784,527 1,922,842

Refundable residential aged care accommodation bonds and retirement village ingoing contributions Refundable accommodation deposits (RADs) and accommodation bonds and retirement village ingoing contributions are classified as current liabilities as they may be contractually refundable within twelve months. It is anticipated that only a portion of the balance will be required to be repaid in that period and based on previous experience, the repayments are offset by inflows of accommodation bonds and ingoing contributions from residents.

Restricted for internal use only32

BaptistCare Notes to the financial statements (continued) for the year ended 30 June 2026 15. Loans and borrowings In thousands of AUD Current Lease liabilities* Borrowings**

Non-current Lease liabilities* Borrowings**

2026

2025

7,411 6,298 13,709

9,043 1,847 10,890

13,972 259,858 273,830

11,074 187,892 198,966

* Expenses relating to short-term leases and leases of low-value assets that are not recognised as right-of-use assets was $528,000 for the year ended 30 June 2026 (2025: $887,000). ** BaptistCare Community Housing Limited (BCHL), a subsidiary of BaptistCare, has borrowings of $183.0 million under loan facilities provided by Housing Australia (HA). The HA borrowings are secured over specified assets of BCHL and related security interests granted in favour of HA. Establishment fees and upfront costs of $0.8 million were incurred in 2020 and 2023 in connection with these borrowings. The HA borrowings mature on 25 June 2032. BCHL Loan BCHL has entered into a subordination agreement under which any intercompany loan arrangements with BaptistCare are subordinated to the HA loans. As at 30 June 2026, the HA borrowings are subject to a financial covenant requiring BCHL to maintain a minimum Debt Service Cover Ratio (DSCR) of 1.06:1.00. The DSCR is calculated based on cash flow available for debt service relative to scheduled debt obligations. BCHL was in compliance with the covenant at 30 June 2026 and expects to remain in compliance for the 12 months following the reporting date. The HA borrowings comprise fixed-rate and variable-rate facilities. The fixed-rate facility ($144.0 million) bears interest at 2.06% per annum and the variable-rate facility ($39.0 million) bears interest at HA's cost of funds plus a margin of 0.65% per annum. BCRL WA Loan In December 2025, BaptistCare Retirement Living WA (BCRL WA) entered into a three-year secured loan facility with a commercial bank with a total limit of $87.0 million. The facility comprises a $60.0 million term loan and a $27.0 million revolving facility and matures on 12 December 2028. Interest is charged at the applicable bank bill rate plus a fixed margin. At 30 June 2026, $77.0 million was drawn under the facility. The BCRL WA facility is secured over specified assets of BCRL WA and is subject to financial covenants requiring an Interest Cover Ratio (ICR) of greater than 1.5 times and a Loan-to-Value Ratio (LVR) of less than 60%. BCRL WA was in compliance with both covenants at 30 June 2026. Lease liabilities The Group leases properties and motor vehicles. The leases typically run for a period of 3 - 5 years, with an option to renew the lease after that date. Lease payments are subject to CPI based annual increments with market review on option or expiry. Future lease payments The total of future lease payments (including those lease payments that are not included in the measurement of the lease liability, e.g. for short-term leases and leases of low-value items) are disclosed for each of the following periods. In thousands of AUD

2026

2025

Less than one year One to five years More than five years

5,783 16,088 12,496 34,367

2,836 12,336 9,137 24,309

Restricted for internal use only33

BaptistCare Notes to the financial statements (continued) for the year ended 30 June 2026 16. Employee benefits In thousands of AUD Current Salary, wages and superannuation payable Liability for annual leave Liability for long-service leave

Non-current Liability for long-service leave

2026

2025

38,422 70,682 42,381 151,485

36,805 62,882 41,827 141,514

12,180 12,180

7,186 7,186

2026

2025

224,273 28,744 253,017

84,494 4,600 34,678 123,772

17. Provisions In thousands of AUD Current Capital gain sharing provision Restructuring provision Other provisions Capital gain sharing provision This provision relates to the residents’ share in the increase of the value of the units in the retirement villages. The expense recognised in the consolidated statement of profit or loss and other comprehensive income for the year amounted to $64,117,000 (2025: $21,810,000). Restructuring provision A provision of $4,600,000 was made in 2025 to cover the costs associated with merging state-based Baptist aged care service providers. Restructuring costs mainly included estimated costs associated with retention and redundancy. The restructured was completed during 2026. Any unused provision was reversed during the year. Other provisions Other provisions relate to lease make good, payroll costs and legal matters recognised on the merger with Baptcare Ltd and BaptistCare SA in FY2025 relating to risk exposures and are expected to be settled over a number of years. A reconciliation for each class of provision is provided below.

In thousands of AUD Balance at 1 July 2025 Assumed in business combination (Note 20) Provisions made during the year Provisions used during the year Provisions reversed during the year Balance at 30 June 2026

Capital gain sharing provision

Restructuring provision

Other provisions

Total

84,494

4,600

34,678

123,772

76,432 75,462 (12,115) 224,273

(3,293) (1,307) -

3,895 (5,618) (4,211) 28,744

76,432 79,357 (21,026) (5,518) 253,017

Restricted for internal use only34

BaptistCare Notes to the financial statements (continued) for the year ended 30 June 2026 18. Contract liabilities In thousands of AUD Current Client funds - Home Care Packages Independent Living Unit deferred income Government grants

Non-current Independent Living Unit deferred income

2026

2025

9,603 1,190 11,776 22,569

13,914 2,675 11,824 28,413

30,269 30,269

29,377 29,377

19. Reserves Fair value reserve The fair value reserve includes the cumulative net change in the fair value of the investment portfolio. Revaluation reserve The revaluation reserve relates to the revaluation of property, plant and equipment immediately before its reclassification as investment property. Further details are disclosed in the Consolidated Statement of changes in funds on page 14. 20. Acquisitions through business combination (a) Sunrise Supported Living On 1 October 2025, the Group expanded its operations through the acquisition and transfer of operations of Sunrise Supported Living Tuncurry and its associated Sunrise Home Care business on the NSW Mid North Coast for a total cash consideration of $17,721,000. Sunrise Supported Living comprises 106 independent living units, while Sunrise Home Care provides services to residents of the village and clients across the broader Mid North Coast region. Approximately 90 employees transferred to BaptistCare as part of the transition. (i) Consideration transferred In thousands of AUD Cash Total consideration transferred

2026 17,721 17,721

Restricted for internal use only35

BaptistCare Notes to the financial statements (continued) for the year ended 30 June 2026

20. Acquisitions through business combination (continued) (a) Sunrise Supported Living (continued) (ii) Identifiable assets acquired and liabilities assumed The following summarises the recognised amounts of the assets acquired and liabilities assumed at the acquisition date: In thousands of AUD Cash and cash equivalents Receivables Investment properties Property, plant and equipment Intangible assets Trade and other payables Refundable loans Employee benefits Provisions (capital gains) Total net assets acquired Goodwill on acquisition

2026 1 78 51,439 210 1,487 (19) (29,710) (487) (6,230) 16,769 952

Goodwill of $952,000 has been recognised in intangible assets in the statement of financial position. The goodwill is attributable mainly to expected synergies and future benefits from the acquired businesses. (b) Keyton On 12 December 2025, the Group also entered into an agreement with Keyton to acquire its Western Australian retirement village portfolio for a total consideration of $144,723,000. The portfolio comprises 10 retirement villages across Western Australia, including eight in metropolitan Perth, one in Mandurah and one in Bunbury. The portfolio comprises 1,639 homes, including 1,568 independent living units and 71 independent living apartments, and is home to more than 2,080 residents. BaptistCare assumed operational control of the villages from 1 July 2026. (i) Consideration transferred In thousands of AUD Cash Borrowings Total consideration transferred

2026 67,897 76,826 144,723

(ii) Identifiable assets acquired and liabilities assumed The following summarises the recognised amounts of the assets acquired and liabilities assumed at the acquisition date: In thousands of AUD Receivables Investment properties Trade and other payables Deferred management fees Refundable loans Employee benefits Provisions (capital gains) Total net assets acquired Goodwill on acquisition

2026 463 724,384 (196) (4,102) (505,102) (530) (70,202) 144,715 8

Goodwill of $8,000 has been recognised in other income in the statement of profit or loss and other comprehensive income. The goodwill is attributable mainly to expected synergies and future benefits from the acquired businesses. Restricted for internal use only36

BaptistCare Notes to the financial statements (continued) for the year ended 30 June 2026

21. Capital and other commitments In thousands of AUD Capital expenditure commitments

2026

2025

129,759

100,650

Included in capital expenditure commitments are costs for the design and construction for major projects associated with residential aged care, retirement living and social housing. 22. Contingent liabilities Where Government capital grants have been made towards buildings, they may be refundable to the Government in the event of sale of the property on which these buildings have been constructed or in the event of a change in the usage of the property for purposes not in accordance with the grants. The Directors have no future plans which would trigger the refund of capital grants. 23. Related parties Key management personnel compensation The key management personnel compensation included in ‘employee expenses’ (see Note 5) was $7,298,244 for the year ended 30 June 2026 (2025: $5,823,116). As part of their remuneration package, BaptistCare also provides non-cash benefits to key management personnel and contributes to a superannuation fund on their behalf. Other related party transactions B.C.S. Foundation Pty. Limited acts as a trustee and custodian trustee for seven charitable trusts, including the BCS Foundation. These trusts collectively distributed $2,225,666 (2025: $1,623,823) during the year ended 30 June 2026 to BaptistCare. Baptist Care (SA) Foundation was formed by the Baptist Churches of South Australia as a public ancillary fund. The objects of Baptist Care (SA) Foundation are 'to provide money, property or benefits ' exclusively to the incorporated association. The foundation distributed to Baptist Care SA Inc $814,800 (2025: $2,834,590). 24. Auditor’s remuneration In AUD Fees paid to auditors of the Group - KPMG Audit of the financial statements - Group Other auditors Audit of the financial statements Assurance Services Other regulatory audit services - KPMG Other regulatory audit services - other auditors Other services Other advisory services - KPMG

2026

2025

350,000

381,000

229,600

228,000

220,400 800,000

99,100 50,200 758,300

23,000

25,000

Restricted for internal use only37

BaptistCare Notes to the financial statements (continued) for the year ended 30 June 2026 25. Interests in subsidiaries The group’s subsidiaries at 30 June 2026 are set out below. The country of incorporation or registration is also their principal place of business.

Name of entity

Place of business/ country of incorporation

Ownership interest held by the group 2026 2025 100% 100%

Principal activities

BaptistCare WA Limited

Australia

Gnocci Holdings Limited Baptcare Ltd

Australia Australia

100% 100%

Baptcare Affordable Housing Limited BaptistCare Community Housing Limited BaptistCare Seniors Housing Baptist Care (SA) Incorporated BaptistCare Retirement Living WA (formerly Eventide Homes (NSW)) BC WA Realty Pty Ltd Bibra Lake Development Pty Ltd Bibra Lake Lakeside Villas Management Pty Ltd Village Management Pty Ltd Baptist Care WA Village Holdings Pty Ltd Keyton Villages WA Trust BaptistCare Community Housing Holdings Ltd BaptistCare CH A Ltd BaptistCare CH B Ltd BaptistCare CH C Ltd BaptistCare CH D Ltd BaptistCare CH E Ltd BaptistCare CH F Ltd

Australia

100%

Aged and community care services Catering management services Aged and community care services and community housing Community housing

Australia

100%

Community housing

Australia

100%

Community housing

Australia

100%

Community services

Australia

100%

Retirement living services

Australia Australia

100% 100%

Realty services Retirement living services

Australia

100%

Retirement living services

Australia

100%

Retirement living services

Australia

100%

Retirement living services

Australia Australia

100% 100%

100%

Retirement living services Community housing

Australia Australia Australia Australia Australia Australia

100% 100% 100% 100% 100% 100%

100% 100% 100% 100% -

Community housing Community housing Community housing Community housing Community housing Community housing

Restricted for internal use only38

BaptistCare Notes to the financial statements (continued) for the year ended 30 June 2026 26. Subsequent events Effective 1 July 2026, BaptistCare exchanged contracts to acquire the ownership and operation of two retirement villages in New South Wales – Elouera in North Wollongong and Park Linn Haven in Bowral. The villages were acquired from Presbyterian Aged Care and comprise 34 independent living units for a consideration of $9.6 million. As at the date of this report, no other items, transactions or events of a material or unusual nature that, in the opinion of BaptistCare, are likely to significantly affect operations, the results of those operations or the state of affairs of BaptistCare, have arisen in the period from 30 June 2026 to the date of this report. 27. Parent entity financial information The individual financial statements for the parent entity show the following aggregate amounts: In thousands of AUD

2026

2025

Current assets Total assets Current liabilities Total liabilities Net assets

556,156 2,816,105 (2,027,790) (2,259,783) 556,322

506,525 2,638,897 (1,851,255) (2,076,146) 562,751

Accumulated funds Reserves Retained earnings Total equity

(282,296) (274,026) (556,322)

(275,819) (286,932) (562,751)

Note

2026

2025

Financial assets measured at amortised cost Cash and cash equivalents Trade and other receivables*

7 8

133,169 119,416 252,585

178,107 68,760 246,867

Financial liabilities measured at amortised cost Trade and other payables* Loans and borrowings

13 15

13,668 287,539 301,207

19,752 209,856 229,608

28. Financial instruments In thousands of AUD

* Other receivables and payables that are not financial instruments (GST receivable and payable, contract assets, contract liabilities, prepayments and refund liabilities) are not included. 29. Australian Charities and Not-for-Profit Commission (ACNC) Disclosure The financial statements are BaptistCare (the “Company”) and its controlled entities (the “Group”). Of the 22 companies in the Group, 15 are registered with the ACNC, and seven are in the process of being registered. The latter seven companies were acquired during the year as part of an acquisition. The ACNC permits the joint reporting of ACNC registered entities (the “ACNC Registered Charities”) and entities not registered with the ACNC (the "Non-registered entities") under Division 60 of the Australian Charities and Notfor-profits Commission Act 2012 (the Act) subject to certain conditions. These conditions include specific financial statement disclosures which have been noted below.

Restricted for internal use only39

BaptistCare Notes to the financial statements (continued) for the year ended 30 June 2026

29. Australian Charities and Not-for-Profit Commission (ACNC) Disclosure (continued) (a) Entities within the ACNC Group Legal Name BaptistCare BaptistCare Community Housing Baptistcare WA Limited The Gnocci Charitable Trust Baptcare Limited Baptcare Affordable Housing Limited Baptist Care (SA) Inc BaptistCare Retirement Living WA BaptistCare Community Housing Holdings Ltd BaptistCare CH A Ltd BaptistCare CH B Ltd BaptistCare CH C Ltd BaptistCare CH D Ltd BaptistCare CH E Ltd BaptistCare CH F Ltd

ABN 90 000 049 525 12 667 330 065 17 138 445 819 45 861 153 185 12 069 130 463 63 158 882 823 81 257 754 846 49 000 388 385 44 692 357 216

Deductible Gift Recipient Yes Yes Yes Yes Yes Yes Yes Yes Yes

63 692 358 106 36 692 358 811 55 692 400 552 57 692 358 964 75 694 603 917 25 694 604 076

Yes Yes Yes Yes Yes Yes

(b) Financial information relating only to the ACNC Group Apart from Note 26 which relates to the parent entity only, all information in this financial report relates to the BaptistCare Group which includes non-ACNC registered entities. The Statement of Profit or Loss and Other Comprehensive Income and the Statement of Financial Position disclosed below specifically show information relating only to the entities within the ACNC Group which are registered with the ACNC and, separately those entities which are not registered with the ACNC.

Restricted for internal use only40

BaptistCare Notes to the financial statements (continued) for the year ended 30 June 2026

29. Australian Charities and Not-for-Profit Commission (ACNC) Disclosure (continued) (b) Financial information relating only to the ACNC Group (continued) (i) Statement of Profit or Loss and Other Comprehensive Income

In thousands of AUD

Registered Charities

NonRegistered Entities

Consolidated Total

Revenue Other income Fair value gain on investment properties Revenue and other income

1,356,434 28,295 68,216 1,452,945

8,538 615 35,158 44,311

1,364,972 28,910 103,374 1,497,256

Employee expenses Property expenses Depreciation and amortisation expenses Service delivery expenses Capital gain expense Business support expenses Expenses

(964,054) (57,012) (63,721) (138,879) (43,323) (104,694) (1,371,683)

(1,418) (1,111) (42) (20,794) (616) (23,981)

(965,472) (58,123) (63,721) (138,921) (64,117) (105,310) (1,395,664)

Surplus before net finance income

81,262

20,330

101,592

Finance income Finance costs Net finance costs

25,453 (83,452) (57,999)

(42) (42)

25,411 (83,452) (58,041)

Surplus for the year before income tax

23,263

20,288

43,551

Income tax benefit Surplus for the year

23,263

702 20,990

702 44,253

Items that are or may be reclassified subsequently to profit or loss: Investment portfolio at fair value through other comprehensive income – net change in fair value

455

Items that will not be reclassified subsequently to profit or loss: Investment portfolio at fair value through other comprehensive income – net change in fair value

6,710

Total comprehensive income for the year

30,428

20,990

51,418

Other comprehensive income

Restricted for internal use only41

BaptistCare Notes to the financial statements (continued) for the year ended 30 June 2026

29. Australian Charities and Not-for-Profit Commission (ACNC) Disclosure (continued) (b) Financial information relating only to the ACNC Group (continued) (ii) Statement of Financial Position Registered Charities

NonRegistered Entities

Consolidated Total

123,902 120,047 137,687 7,714 464 389,814

9,267 (47,563) (38,296)

133,169 120,047 90,124 7,714 464 351,518

Investments Investment properties Property, plant and equipment Intangible assets Deferred tax assets Total non-current assets Total assets

273,346 1,923,516 1,572,531 3,265 3,772,658 4,162,472

349,913 2,687 352,600 314,304

273,346 2,273,429 1,572,531 3,265 2,687 4,125,258 4,476,776

Liabilities Trade and other payables Refundable loans Loans and borrowings Employee benefits Provisions Contract liabilities Current tax liabilities Total current liabilities

78,060 2,253,973 13,626 150,527 221,333 52,436 2,769,955

9,675 278,796 83 958 31,684 (29,867) 1,985 293,314

87,735 2,532,769 13,709 151,485 253,017 22,569 1,985 3,063,269

Loans and borrowings Employee benefits Contract liabilities Total non-current liabilities Total liabilities Net assets

273,830 12,180 30,269 316,279 3,086,234 1,076,238

293,314 20,990

273,830 12,180 30,269 316,279 3,379,548 1,097,228

Accumulated funds Reserves Retained earnings Total accumulated funds

282,982 797,754 1,080,736

16,492 16,492

282,982 814,246 1,097,228

In thousands of AUD Assets Cash and cash equivalents Term deposits Receivables Investments Inventories Total current assets

Restricted for internal use only42

BaptistCare Directors’ declaration

For the year ended 30 June 2026 Directors’ declaration

In the opinion of the Directors of BaptistCare: (a) the financial statements and notes that are set out on pages 12 to 42 are in accordance with the Australian Charities and Not-for-profits Commission Act 2012, including: (i) giving a true and fair view of BaptistCare‘s financial position as at 30 June 2026 and of its performance, for the financial year ended on that date; and (ii) complying with Australian Accounting Standards - Simplified Disclosures and the Australian Charities and Notfor-profits Commission Regulation 2022; and (b) there are reasonable grounds to believe that BaptistCare will be able to pay its debts as and when they become due and payable. Signed in accordance with a resolution of Directors.

________________________________ Tim Farren Chair Dated at Sydney, 9 October 2026

Restricted for internal use only43

Independent Auditor’s Report To the members of BaptistCare Opinion We have audited the Financial Report of BaptistCare (the Group).

The Financial Report comprises:

In our opinion, the accompanying Financial Report of the Company is in accordance with Division 60 of the Australian Charities and Notfor-profits Commission (ACNC) Act 2012, including:

Consolidated statement of financial position as at 30 June 2026

ii.

Consolidated statement of profit or loss and other comprehensive income, Consolidated statement of changes in funds, and Consolidated statement of cash flows for the year then ended.

iii.

Notes, including material accounting policies.

iv.

Directors declaration for the Company.

ii.

giving a true and fair view of the Group’s financial position as at 30 June 2026, and of its financial performance and its cash flows for the year ended on that date; and complying with Australian Accounting Standards – Simplified Disclosures Framework and Division 60 of the Australian Charities and Not-for-profits Commission Regulations 2022 (ACNCR).

The Group consists of the Company and the entities it controlled at the year end or from time to time during the financial year.

Basis for opinion We conducted our audit in accordance with Australian Auditing Standards. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the Financial Report section of our report. We are independent of the Group in accordance with the auditor independence requirements of the ACNC Act 2012 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to our audit of the Financial Report in Australia. We have fulfilled our other ethical responsibilities in accordance with these requirements.

44 KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation. Liability limited by a scheme approved under Professional Standards Legislation.

Other Information Other Information is financial and non-financial information in BaptistCare’s annual report which is provided in addition to the Financial Report and the Auditor’s Report. The Directors are responsible for the Other Information. Our opinion on the Financial Report does not cover the Other Information and, accordingly, we do not express any form of assurance conclusion thereon. In connection with our audit of the Financial Report, our responsibility is to read the Other Information. In doing so, we consider whether the Other Information is materially inconsistent with the Financial Report or our knowledge obtained in the audit, or otherwise appears to be materially misstated. We are required to report if we conclude that there is a material misstatement of this Other Information, and based on the work we have performed on the Other Information that we obtained prior to the date of this Auditor’s Report we have nothing to report.

Responsibilities of the Directors for the Financial Report The Directors are responsible for: •

preparing the Financial Report that gives a true and fair view in accordance with Australian Accounting Standards -Simplified Disclosures Framework and the ACNC and ACNR.

•

implementing necessary internal control to enable the preparation of a Financial Report in true and fair view and is free from material misstatement, whether due to fraud or error

•

assessing the Group and Company’s ability to continue as a going concern and whether the use of the going concern basis of accounting is appropriate. This includes disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless they either intend to liquidate the Group and company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the Financial Report Our objective is: •

to obtain reasonable assurance about whether the Financial Report as a whole is free from material misstatement, whether due to fraud or error; and

•

to issue an Auditor’s Report that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error. They are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Financial Report. As part of an audit in accordance with Australian Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audit. 45

Our objective is: i.

to obtain reasonable assurance about whether the Financial Report as a whole is free from material misstatement, whether due to fraud or error; and

ii.

to issue an Auditor’s Report that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error. They are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Financial Report. As part of an audit in accordance with Australian Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: i.

Identify and assess the risks of material misstatement of the Financial Report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

ii.

Obtain an understanding of internal control relevant to the Audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the registered Group’s internal control.

iii.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Directors.

iv.

Conclude on the appropriateness of the Directors ‘use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the registered Group and Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor’s Report to the related disclosures in the Financial Report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor’s Report. However, future events or conditions may cause the registered Group and company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the Financial Report, including the disclosures, and whether the Financial Report represents the underlying transactions and events in a manner that achieves fair presentation.

vi.

Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business units within the Group as a basis for forming an opinion on the group financial report. We are responsible for the direction, supervision and review of the audit work performed for the purposes of the group audit. We remain solely responsible for our audit opinion.

We communicate with the Directors of the registered Company regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 46

KPMG

Shara Learmonth Partner Sydney 9 October 2026

For more information Call 1300 275 227 Email ask@baptistcare.org.au Visit baptistcare.org.au

Support Services - NSW/ ACT Level Two, 22 Brookhollow Avenue Norwest NSW 2153

Support Services - SA 130 Rose Terrace Wayville SA 5034

Support Services - VIC/TAS Level One, 1193 Toorak Road Camberwell VIC 3124

Support Services - WA Level 7, 25 Rowe Avenue Rivervale WA 6103

Read our Annual and Financial Reports

baptistcare.org.au/annual-report/2026

BaptistCare is a leading purpose-led care organisation. Guided by our Christian identity, we have been serving people and communities across Australia for more than 110 years. We help people find new ways to live better, through residential aged care, home care, retirement living, community services, disability support and housing across NSW, ACT, WA, VIC, TAS and SA. – ABN 90 000 049 525 2BaptistCare BaptistCare Financial Report 2026