Scenario Explorer

Have a play with the numbers and see how changes in key disclosed assumptions can shape the illustrative project economics and a hypothetical pro rata investor outcome for Victor Lima 6.

It's important to note this is illustrative only — not a guarantee, not a prediction, and not personal financial advice.

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Scenario Assumptions

Your investment amount

Whole shares at NZ$100 each. Any residual is shown as uninvested cash.

NZ$orshares

50065800

Shares: 10Allocated: $1,000Transaction fee (1%): $10

Change in achieved sale prices+0.0%

-1010

Change in variable development costs+0%

-1020

Interest rate8.95%

8.2511

Delay to completion / settlementNo delay

-212

Baseline vs Selected Scenario

Based on selected assumptions. All figures are illustrative only.

Metric	Baseline	Scenario	Change
Illustrative gross realisation	$7,799,826	$7,799,826	+$0
Illustrative total development cost	$6,922,922	$6,922,922	+$0
Illustrative gross margin	$876,904	$876,904	+$0
Illustrative surplus before tax	$456,697	$456,697	+$0

Surplus Bridge

How each assumption moves the illustrative surplus from baseline

Sensitivity Analysis

Surplus range when each slider moves from min to max

Your Illustrative Outcome

Pro rata illustration based on selected scenario assumptions.

Investment Details

Amount entered

$1,000

Shares allocated

Ownership percentage

0.06%

Amount allocated to shares

$1,000

Uninvested cash

Illustrative Returns

Illustrative pro rata dividend (before tax)

$278

Illustrative return of capital

$1,000

Illustrative total cash attributable

$1,278

Illustrative surplus over amount entered

$278

Illustrative gross multiple

1.278x

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Important Information

This tool is provided for illustrative purposes only to help users explore how changes in selected assumptions may affect project economics and a hypothetical pro rata investor outcome. It is based on selected information from the VL6 Product Disclosure Statement and prospective financial statements.

Actual results may differ materially from the scenarios shown. No assurance is given that any distributions will be made, or that they will be made in the amounts or at the times illustrated.

Users should read the PDS, the full prospective financial statements, and the risk information before making any investment decision.

A note on tax

Tax can have a real impact on what you get back, and everyone's situation is a bit different. So while we can share general information, we're not giving personal tax advice. If you're thinking about investing, it's worth having a chat with your accountant or tax adviser so you know how it applies to you.

Financial Assumptions & Forecast

Common questions about the prospective financial statements, forecast assumptions, and what they mean for investors.

What are the prospective financial statements trying to show me?

They're a forecast of how Victor Lima 6 could perform financially if the key assumptions play out broadly as expected. They are there to help you assess the project, but they are still forecasts — not guarantees.

Are these forecast numbers guaranteed?

No. They're based on the Directors' best-estimate assumptions at the time they were prepared. Actual results are likely to differ, and those differences could be material.

What sale prices have been assumed in the forecast?

The forecast assumes all eight townhouses are sold within the forecast period at an average sale price of $974,978 per unit, excluding GST. Importantly, no future house price growth has been built in — the forecast uses a flat-price basis rather than assuming the market rises from here.

Why does the forecast not assume house prices will go up?

Because that would be easy to say and harder to defend. The prospective financial statements take a more conservative approach by using current market evidence and not building in any assumed uplift in residential prices before sale.

What happens if the homes sell for less than forecast?

That would reduce revenue and could reduce profit, cash flow, and the amount available for distribution to investors. In simple terms: lower sale prices can mean lower returns.

What development costs are assumed?

The forecast assumes development costs are incurred broadly in line with the approved budget. Total development costs excluding land, development management fees, and finance are forecast at about $4.1 million.

How conservative are the construction cost assumptions?

Construction costs are based on preliminary tenders from three head contractors, with the forecast using the highest estimate received. That's a conservative approach, but it still doesn't remove the risk of cost increases entirely.

Are all build costs fixed?

Not entirely. Most construction spend is expected to be fixed-price, but some items remain variable — including demolition, earthworks, drainage, and in-ground services. Those variable items are estimated to make up around 10% of total construction costs.

What does the 5% contingency actually mean?

It means a 5% allowance has already been built into forecast construction and development costs to help absorb expected variability in pricing and delivery. It's there as part of the Directors' best estimate — not as a magic shield against every surprise.

When is the project expected to be completed?

The forecast assumes practical completion in November 2026, with all eight units completed and ready for settlement within the forecast period ending 31 March 2027.

Could the timeline move?

Yes. The construction timetable was not contractually locked in at the time the prospective financial statements were prepared. Timing could shift because of contractor scheduling, weather, regulatory approvals, site conditions, or other delivery issues.

Why do delays matter so much?

Because delays don't usually just cost time — they can also increase holding costs, interest, and overheads, while pushing settlements and investor distributions further out.

What has been assumed for development finance?

The forecast assumes third-party development finance will be available when needed, with drawdowns broadly matching the project's cash flow requirements. But no executed facility agreement was in place when the forecast was prepared, so final lender terms may differ.

What interest rate has been assumed?

The forecast allows for development borrowing at 8.95% per annum. If the actual rate ends up higher, that could increase total project costs and reduce profit and investor distributions.

When are the units expected to sell?

The forecast assumes all eight units are sold and settled progressively over a two-month period between December 2026 and January 2027.

Is that sales timeline certain?

No. It's a forecast based on judgement, market data, and current conditions. It's a reasoned assumption, not a promise. If the sell-down takes longer, cash flow and return timing could shift.

When are investor distributions expected?

The forecast assumes an initial dividend may be paid after settlement of the final residential unit. Any remaining surplus funds, together with a return of share capital, are expected to be distributed after the project is completed and the required statutory, audit, and compliance steps are done.

Does that mean all money is paid out immediately once the last unit settles?

Not necessarily. Final distributions depend on wrap-up work being completed properly. That includes compliance and close-out steps, so some payments may occur after the main forecast period.

Is Victor Lima 6 meant to be an ongoing company?

No. Victor Lima 6 is a single-project SPV. The expectation is that once the development is completed, all units are sold, surplus funds are distributed, and the wrap-up is complete, the company will be wound up.

What's the big-picture takeaway from the forecast assumptions?

The model is built on reasonable, supportable assumptions — but it is still highly sensitive to sale prices, build costs, finance terms, timing, and weather or delivery delays. That's why the forecast is useful, but it should never be read like a guarantee.

Reference Documents

Read the full offer documents before making any investment decision.

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