CENTURIA CAPITAL GROUP — Interim / Quarterly Report 2021

Feb 9, 2021

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HY21 Financial Results

• HY21 operating earnings[1] 6.2cps, HY21 distribution 4.5cps

• FY21 guidance: Upgraded distribution[2] guidance to 10.0cps Operating earnings[3] guidance 11.5c – 12.5cps

• 16% growth in AUM to $10.2bn in HY21

• Record HY21 direct real estate acquisitions - $1.5 billion[4]

• $1.6bn[5] development pipeline

• 12-month total securityholder return (TSR[6] ) of 22.0%

SYDNEY (Wednesday, 10 February 2021) – Centuria Capital Group (ASX: CNI or “Centuria”) has announced its HY21 results for the period ended 31 December 2020.

John McBain, Joint CEO, said “HY21 has been a period of strong performance for Centuria. Our platform increased Assets Under Management (AUM) throughout Australasia to more than A$10 billion, a 16% increase across our listed and unlisted real estate divisions for the half.”

“As the financial year unfolds allowing greater certainty, Centuria re-affirms its FY21 operating earnings per security guidance[2] range of 11.5-12.5cps and further upgrades FY21 distribution guidance[3] to 10.0cps. FY21 distribution guidance alone has increased 17% from 8.5cps in August 2020 to today’s announcement of 10.0cps.”

Centuria’s dual strategy of direct real estate and corporate acquisitions is now actively providing additional performance. Operating businesses acquired over the past three years are contributing strongly with AUM growth during HY21 as follows:

• Centuria Industrial REIT +50%

• Centuria Healthcare +29%

• New Zealand +24%

This “joint” strategy has underpinned Centuria’s 33% compound annual growth rate (CAGR) in AUM from 30 June 2017 to 31 December 2020.

HY21 FINANCIAL RESULTS

Earnings		HY21	HY20
Operating NPAT7	$m	34.0	33.4
Operating EPS1	cps	6.2	8.1
Distributionper stapled security	cps	4.5	4.5

Recurring revenues accounted for 83% of total Group revenue in HY21, underpinned by an increased level of property funds management fees and co-investment income from a larger real estate platform. During the half, $13.6m of performance fees were recognised, increasing the underlying revenue relative contribution on a p.c.p. basis. Latent underlying performance fees of $22.3m[8] are recorded across Centuria’s unlisted real estate funds.

Centuria continues to recycle its balance sheet to support businesses across the Group’s. Cash on hand was $168.0m as at 31 December 2020 and an operating gearing ratio[9] of 2.4% positions the Group well to unlock new opportunities. Net asset value (NAV[10] ) increased to $1.54, a 6.9% increase for HY21.

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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CNI’s 12-month TSR[6] of +22.0% outperformed the S&P/ASX 200 index +1.4% and the S&P/ASX200 A-REIT Accumulation Index -4.6%.

AUSTRALASIAN REAL ESTATE PLATFORM

Real estate AUM expanded 16% to $9.3bn in HY21. Over the period, listed real estate AUM increased to $4.8bn (18%) and unlisted real estate AUM to $4.5bn (7.0%). Growth was supported by a record $1.5bn[4] of gross real estate acquisitions across 24 industrial, healthcare, and development assets throughout Australia and New Zealand.

Centuria’s unlisted real estate platform continued to broaden its suite of investment options, securing $0.5bn of real estate across four unlisted funds. The multi-asset open-ended Centuria Healthcare Property Fund (CHPF) and Augusta Property Fund (APF) were launched with oversubscribed capital raisings. The single asset Visy Penrose Fund and fixed-term Centuria Industrial Income Fund No.1 (CIIF1) have been established and capital raisings for a combined $150m are underway, generating strong investor interest from Centuria’s deep investor network throughout Australasia.

The Group is expanding its development capability, utilising its in-house expertise across a significant $1.6bn pipeline[5] . Development fees provide a growing source of operating income as well a source of high-quality investment property for Centuria’s fund vehicles. Centuria will use its balance sheet to support this revenue stream and create ongoing development revenues.

Jason Huljich, Joint CEO, said, “Centuria’s $9.3bn Australasian real estate platform provides a compelling geographic split between Australia and New Zealand. The platform’s exposure to industrial, healthcare and decentralised office sectors underpins a growing suite of investment vehicles marketed to a deepening network of domestic and global investors.

“Centuria’s platform now spans 216 assets and 948 tenants and is overseen by a highly experienced management team focused on transactions and funds, asset, property and development management. Throughout HY21, Centuria averaged a 97.6% rent collection across the platform. 97% of Centuria’s funds continued to distribute in HY21 with all Australian funds distributing through the period, despite the uncertainty of the COVID-19. The strength of our platform is supported by rent revenues from high quality tenants across Federal and State Government and ASX listed or multinational tenants such as, Woolworths, Telstra, Visy, Arnott’s and DHL.”

STRATEGY & OUTLOOK

Mr McBain commented “Our board and management maintain a strong focus on the well-performing industrial and healthcare property sectors in Australia and New Zealand, at the same time we are pleased with the stable, recurring revenues being generated by our decentralised office portfolios in both countries. Co–Chief Executive Jason Huljich and I intend to continue to execute on Centuria’s joint - strategy of real estate and corporate acquisitions and the Group aspires to increase funds under management by 50% in the near term.”

A playback of the HY21 results webcast will be made available on CNI’s website.

-ENDS-

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

John McBain	Tim Mitchell	Alexandra Koolman
Joint CEO	Group Head of Investor Relations	Corporate Communications Senior Manager
Centuria Capital LimitedT: 02 8923 8910	Centuria Capital LimitedT: 02 8923 8923	Centuria Capital LimitedT: 02 8923 8923
E: john.mcbain@centuria.com.au	E: tim.mitchell@centuria.com.au	E: 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 a leading real estate funds manager with a unique Australasian focus and $10.2 billion of assets under management. 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 meaningful investments.

www.centuria.com.au

Disclaimer

This announcement contains selected summary information and does not purport to be all-inclusive, comprehensive or to contain all of the information that may be relevant, or which a prospective investor may require in evaluations for a possible investment in CNI. It should be read in conjunction with CNI's periodic and continuous disclosure announcements which are available at www.centuria.com.au.

This announcement is provided for general information purposes only. It should not be relied upon by the recipient in considering the merits of CNI or the acquisition of securities in CNI.

Before making an investment decision, the recipient should consider its own financial situation, objectives and needs, and conduct its own independent investigation and assessment of the contents of this announcement, including obtaining investment, legal, tax, accounting and such other advice as necessary or appropriate.

This announcement may contain forward-looking statements, guidance, forecasts, estimates, prospects, projections or statements in relation to future matters ('Forward Statements'). No independent third party has reviewed the reasonableness of any such statements or assumptions. No member of CNI represents or warrants that such Forward Statements will be achieved or will prove to be correct or gives any warranty, express or implied, as to the accuracy, completeness, likelihood of achievement or reasonableness of any Forward Statement contained in this announcement.

1 Operating EPS is calculated based on the Operating NPAT of the Group divided by the weighted average number of securities

2 Initial FY21 DPS guidance of 8.5 cents announced on 12 August 2020. FY21 DPS guidance upgraded to 9.0cps on 22 October 2020. FY21 DPS guidance upgraded to 10.0cps on 10 February 2021

3 Initial FY21 operating EPS guidance of 10.5 – 11.5 cents announced on 12 August 2020. Upgraded FY21 EPS guidance range of 11.5-12.5cps announced on 22 October 2021

4 Includes 6-8 Munroe Lane, Auckland, NZ, valuation on an as if completed basis

• 5 Development projects and development capex pipeline, including fund throughs

6 Source: Moelis Australia. Based on movement in security price from ASX closing on 1 January 2020 to ASX closing on 31 December 2020 plus distributions per security paid during the respective period(s) assuming re-investment of all distributions. Past performance is not a reliable indicator of future performance 7 Operating NPAT of the Group comprises of the results of all operating segments and excludes non-operating items such as transaction costs, mark to market movements on property and derivative financial instruments, the results of Benefit Funds, Controlled Property Funds and share of equity accounted net profit in excess of distributions received

8 The underlying property funds managed by Centuria Capital Group have accrued total performance fees of $42.1m as at 31 December 2020. $15.2m of this amount has been recognised life to date with the latent unrecognised performance fee being $22.3m

9 Gearing ratio is calculated based on (operating borrowings less cash) divided by (operating total assets less cash)

10 Number of securities on issue at 31 December 2020: 600,236,123 (at 31 December 2019: 448,839,027)

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