CENTURIA CAPITAL GROUP — Capital/Financing Update 2022

Dec 14, 2022

==> picture [596 x 112] intentionally omitted <==

----- Start of picture text -----

Centuria Capital Group (CNI)
----- End of picture text -----

Centuria Grows its Agricultural Portfolio to over $0.4bn

• Centuria Agricultural Fund (CAF) acquires Sundrop Farms’ 20ha[1] glasshouse asset for $70 million

• 20-year sale-and-leaseback triple-net lease; CPI-linked annual rent reviews

• Strong ESG credentials backed by leading solar and water technology

SYDNEY (Thursday, 15 December 2022) – The Centuria Capital Group (ASX: CNI or “Centuria”) – managed Centuria Agriculture Fund (CAF or Fund) has secured one of South Australia’s largest glasshouse assets, Sundrop Farms for $70 million from the Morrison & Co Growth Infrastructure Fund, bringing Centuria’s total agriculture assets under management (AUM) to $421 million[2] .

The acquisition is supported by strong leasing covenants including a 20 year triple-net lease to Sundrop Farms with CPI-linked annual rental reviews. Sundrop Farms will be the second agriculture asset for the open-ended, unlisted Centuria Agriculture Fund (CAF). In June 2022, Centuria secured CAF’s seed asset – a $177 million glasshouse estate in Warragul, Victoria and following the acquisition, CAF’s portfolio will have a 19.4-year WALE[3] with 100% occupancy and $247 million AUM.

The 246-hectare Port Augusta SA site provides four five-hectare glasshouses, a 1.4-megalitre (ML) reverse osmosis plant, a 1ML desalination plant that processes up to 600ML of seawater annually, a 25ML storage dam, a packaging warehouse and a 12.5-hectare Concentrated Solar Energy System (CSP), which creates sustainable onsite renewable energy. The CSP generates 30,000 megawatts of heating, 45,700 kwh of electricity and facilitates seawater desalination. These ESG credentials resonate well with Centuria’s ongoing sustainability overlay within CAF.

Jason Huljich, Centuria Joint CEO, said, “We are pleased to partner with Sundrop who has developed world-first, integrated sustainable farming technology, resulting in more predictable volumes of produce arising from the protected nature of its farming activities. Centuria will continue to partner with experienced operators with a strong track record in agricultural innovation and this is one of a series of agricultural acquisitions we intend to deliver throughout FY23 and beyond, with the aim of growing CAF into one of Australia’s largest unlisted, sector-specific agriculture funds.”

“Agricultural real estate throughout Australia continues to experience strong tailwinds resulting from increasing global demand for Australian Agricultural products and technological innovations. This acquisition is another clear example of Centuria executing against its strategy of providing our unlisted investors with access to high quality investment opportunities in the fragmented, agriculture sector and adding a new highly sought-after funds management vertical to the Centuria platform.”

-ENDS-

For more information or to arrange an interview, please contact:

Jason Huljich Joint CEO	Tim Mitchell Group Head of Investor Relations	Alexandra Koolman Group Communications Manager
Centuria Capital Limited	Centuria Capital Limited	Centuria Capital Limited
T: 02 8923 8923 E: jason.huljich@centuria.com.au	T: 02 8923 8923 E: tim.mitchell@centuria.com.au	T: 02 8923 8923 E: alexandra.koolman@centuria.com.au

Authorised for release by Anna Kovarik, Company Secretary.

About Centuria Capital Group

Centuria Capital Group (CNI) is an ASX-listed specialist investment manager with more than $20 billion of assets under management (as at 30 June 2022). We offer a range of investment opportunities including listed and unlisted real estate funds as well as tax-effective investment bonds. Our drive, allied with our in-depth knowledge of these sectors and intimate understanding of our clients, allows us to transform opportunities into rewarding investments. www.centuria.com.au

Centuria Capital Group Consisting of: Centuria Capital Limited ABN 22 095 454 336 Centuria Capital Fund ARSN 613 856 358

Level 41, Chifley Tower 2 Chifley Square, Sydney NSW 2000

E: sydney@centuria.com.au www.centuria.com.au

T: 02 8923 8923 F: 02 9460 2960

==> picture [596 x 112] intentionally omitted <==

----- Start of picture text -----

Centuria Capital Group (CNI)
----- End of picture text -----

1 Gross Production Area 2 As at December 2022 3 Weighted Average Lease Expiry (WALE) by asset value as at December 2022

Disclaimer

Centuria Property Funds Limited (ACN 086 553 639) (AFSL 231 149) (Centuria), a wholly owned subsidiary of Centuria Capital Group (ASX: CNI), is the Responsible Entity for the fund comprising the Centuria Agriculture Fund I (ARSN 653 947 892) (CAF I) and the Centuria Agriculture Fund II (ARSN 653 946 402) (CAF II) (collectively, Fund).

This information is general information only and does not take into account the objectives, financial situation or particular needs of any person. You should consider whether this information is appropriate for you and consult your financial or other professional advisor before investing. You should obtain and read a copy of the PDS relating to the Fund before making a decision to invest. The PDS is available at: centuria.com.au/caf. Centuria and its associates will receive fees in relation to an investment in the Fund as disclosed in the PDS. Investment in the Fund is subject to risk including possible delays in payment or loss of income and principal invested. Centuria does not guarantee the performance of the Fund

Target Market Determination has been issued for this product and can be found on Centuria’s website at: centuria.com.au/DDO/

All investments in unlisted property funds carry risk. As the Fund invests in commercial agriculture property it carries the market and property risks associated with investing in this sector, including climate and environmental risks. As a geared investment, the Fund also carries associated financial and leverage risks. Risks can impact on distribution and capital returns over the term of the Fund. It is important that you read the PDS and understand the risks of investing.

Centuria Capital Group Consisting of: Centuria Capital Limited ABN 22 095 454 336 Centuria Capital Fund ARSN 613 856 358

Level 41, Chifley Tower 2 Chifley Square, Sydney NSW 2000

T: 02 8923 8923 E: sydney@centuria.com.au F: 02 9460 2960 www.centuria.com.au