CENTURIA CAPITAL GROUP — Capital/Financing Update 2022

Jun 21, 2022

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Centuria Launches Unlisted Agriculture Fund

• $177m state of the art glasshouse in Warragul VIC to seed open-ended fund

• 19-year lease over seed asset to national tenant Flavorite Group

• CAF will primarily invest as a lessor as opposed to taking operational risk

• Capitalises on sector’s growing demand for premium produce and agricultural infrastructure

SYDNEY (Wednesday, 22 June 2022) – Centuria Capital Group (ASX: CNI or “Centuria”) has launched an unlisted, open-ended agriculture fund, Centuria Agriculture Fund (CAF or “Fund”), which is seeded with a $177million state of the art glasshouse in Warragul Victoria.

CAF will acquire the Warragul glasshouse, which benefits from a 19-year sale-and-leaseback, triple-net lease to well-regarded Australian vegetable provider Flavorite. Flavorite is the largest glasshouse producer of fresh fruits and vegetables in Australia and has 25 years of experience in this industry.

The Flavorite facility is a climate-controlled, protected cropping facility covering 33.5 hectares or approximately 40% of the total site and is one of the largest glasshouses in Australia.

The property is the Fund’s first asset of an anticipated larger, highly selective Australian agricultural portfolio. CAF will target assets leased to experienced agricultural operators as well as associated agri-logistics assets with correspondingly favourable lease terms.

Jason Huljich, Centuria Joint CEO, continued, “CAF intends to carefully partner with select operators who have a strong track-record in producing high-yielding produce and who are well established with extensive experience throughout various weather cycles.

“The Fund has a two-prong investment strategy. It will primarily focus on Precision Farming assets, such as glasshouse production, netted crops, vertical farming and properties with access to water, substrate growing and automated harvesting. Secondly, we will target assets aligned to the agricultural supply chain, such as processing, storage/cold storage and distribution to meet the paddock-to-plate demand. This remit includes both existing assets as well as those where farming operations can be expanded or improved through capex funding.”

John McBain Centuria Joint CEO, said, “Centuria branched into the agriculture sector following our merger with Primewest in July 2021 and we intend to expand this vertical to capitalise on the growing demand for premium agricultural products. Strong fundamentals that underpin the sector include population growth forecasts, which increase demand for food domestically and internationally, robust free-trade agreements supporting exports, and an $80.4billion[1] gross value agricultural production forecast for 2022, contributing approximately 2% to Australia’s GDP[2] .”

CAF’s launch will complement Centuria’s existing agriculture trusts. In total, Centuria manages seven agriculture properties worth a collective c.$343million[3] .

Based on the Fund’s initial asset, CAF has a starting distribution yield of 5.25 cpu[4] and will aim to provide monthly distributions[5] , a limited quarterly withdrawal facility[6] , and daily unit pricing. It has a minimum entry investment of $10,000. Centuria will seek to raise c.$103 million to launch the Fund. Applications for units in CAF must be made pursuant to a PDS which is available on Centuria’s website at https://centuria.com.au/caf.

For more information or to arrange an interview, please contact:	For more information or to arrange an interview, please contact:
Jason HuljichJoint CEO	Tim MitchellGroup Head of Investor Relations	Alexandra KoolmanGroup Communications Manager
Centuria Capital Limited	Centuria Capital Limited	Centuria Capital Limited
T: 02 8923 8923E: jason.huljich@centuria.com.au	T: 02 8923 8923E: tim.mitchell@centuria.com.au	T: 02 8923 8923E: alexandra.koolman@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

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

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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. We offer a range of investment opportunities including listed and unlisted real estate funds as well as taxeffective 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

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 proposed stapled 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. Centuria expects to issue a PDS for the Fund on or about 20 June 2022, which will be 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.

1 Agricultural overview: June quarter 2022 - DAWE

2 Source: Agriculture, forestry, and fishing, value added (% of GDP) - Australia | Data (worldbank.org)

3 Data as at 30 June 2022

4 The initial distribution rate is the distribution budgeted to be paid for the first month post the launch of the Fund in August 2022, annualised (assuming equal monthly distributions). Actual distributions for subsequent months will be updated on Centuria’s website. The payment of distributions is not guaranteed and subject to the assumptions and risks in the PDS

5 Centuria Property Funds Limited intends to pay monthly distributions and will be subject to the terms set out in the PDS.

6 Withdrawals are limited to the terms detailed in the PDS and are subject to the Fund’s liquidity policy and summarised on Centuria’s website. The ability of the Fund to offer monthly withdrawals is not guaranteed

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