CENTURIA CAPITAL GROUP — Investor Presentation 2021

Jun 22, 2021

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Centuria Capital Group (CNI)
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Market Update

SYDNEY (Wednesday, 23 June 2021) – Centuria Capital Group ( ASX: CNI or “Centuria”), provides a presentation that will be used as part of a non-deal roadshow held today.

– Ends –

For more information or to arrange	an interview, please contact:
John McBain	Tim Mitchell	Alexandra Koolman
Joint CEO	Group Head of Investor Relations	Group Communications Manager
Centuria Capital Limited	Centuria Capital Limited	Centuria Capital Limited
Phone: 02 8923 8923	Phone: 02 8923 8923	Phone: 02 8923 8923
Email:john.mcbain@centuria.com.au	Email:tim.mitchell@centuria.com.au	Email:alexandra.koolman@centuria.com.au

Announcement authorised 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 over $16billion 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

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

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CHPF: BLOOMFIELD MEDICAL CENTRE, ORANGE, NSW

CIP: 2 WOOLWORTHS WAY, WARNERVALE, NSW

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CIP: TELSTRA DATA CENTRE COMPLEX, CLAYTON, VIC

PRIMEWEST: EXCHANGE TOWER, PERTH, WA

Centuria Capital Group Non-Deal Roadshow ASX:CNI 23 June 2021

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A leading Australasian real estate funds manager

$16.8bn

Pro forma Group AUM

$15.9bn $0.9bn Investment Real Estate AUM Bonds

$5.4bn $10.5bn Listed Real Estate AUM Unlisted Real Estate AUM

Centuria life

Centuria Centuria Centuria Asset Investment Office Industrial Plus REIT REIT Limited Primewest Unlisted Centuria Unlisted Bonds ASX:COF ASX:CIP NZX:APL Real Estate[2] Real Estate[3] Guardian Friendly $2.0bn $3.1bn $0.3bn $5.2bn $5.3bn Society

$1.0bn[1] on balance sheet

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~$200m
Pro forma cash on balance sheet
Centuria Office (ASX:COF)
$238m (19.9%) [4]
Listed
co- Centuria Industrial (ASX:CIP)
investments $347m (17.0%) [4]
$607m
Asset Plus (NZX:APL)
$22m (19.9%) [4]
Primewest unlisted real estate
$37m
Unlisted co-
Centuria unlisted real estate
investments
and debt $106m
$196m
Centuria properties held for
development $53m
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• Note: Pro forma AUM as at 18 June 2021, excludes Vitalharvest AUM, includes announced unaudited valuations

• Pro forma balance sheet cash, listed co-investments and unlisted co-investments

• Centuria holds a relevant interest of more than 90% of PWG securities, compulsory acquisition of remaining securities underway

• Includes Centuria Bass

• Based on the respective close prices of COF, CIP and APL on 18 June 2021. Includes ownership by associates of Centuria Capital Group

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Dual growth strategy of direct real estate and corporate acquisitions

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ASSETS UNDER MANAGEMENT
$16.8bn
5.2 CENTURIA /
PRIMEWEST
MERGER
$8.8bn
45% 5.3 UNLISTED &
CAGR [1] $4.9bn $6.2bn 4.2 INSTITUTIONAL REAL ESTATE
$3.8bn 2.6
1.9 5.4 LISTED REAL ESTATE
1.5 3.8
1.5 2.1 2.7
0.8 0.9 0.9 0.8 0.9 INVESTMENT BONDS
2,3
FY17 FY18 FY19 FY20 FY21 YTD
JAN 2017 / CORPORATE MAY 2019 / CORPORATE JUL 2020 / CORPORATE April 2021 / CORPORATE
$10bn+ OF $1.4bn $620m $1.7bn $5.0bn
TRANSFORMATIONAL
INITIATIVES N I S H I
OCT 2018 / REAL ESTATE DEC 2019 / REAL ESTATE AUG & OCT 2020 / REAL ESTATE
$645m $492m $584m
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1. CAGR calculated from 30 June 2017 to 18 June 2021 pro forma for the Merger

2. Pro forma AUM as at 18 June 2021, excludes Vitalharvest AUM, includes announced unaudited valuations

3. Centuria holds a relevant interest of more than 90% of PWG securities, compulsory acquisition of remaining securities underway

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Enhanced sector diversification creating new growth opportunities

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$15.9bn Real Estate Platform[1,2]

Daily Needs Large Format Office Industrial Healthcare Agriculture Retail (“DNR”) Retail (“LFR”) AUM $6.7bn $4.9bn $1.2bn $1.2bn $1.0bn $0.1bn 42% 31% 8% 7% 7% 1% % of Total (HY21: 48%) (HY21: 36%) (new sector) (new sector) (HY21: 11%) (new sector) Centuria Government 29 Penelope Crescent, Fairview Green Auburn Mega Mall, Bloomfield Medical Lamattina Celery Income Property Fund, Arndell Park, NSW Shopping Centre, Sydney, NSW Centre, Orange, NSW Farm, Regional VIC Footscray, VIC Adelaide, SA

1. Pro forma AUM as at 18 June 2021, excludes Vitalharvest AUM, includes announced unaudited valuations

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1. Includes $0.5bn of other real estate assets, comprising Centuria Bass, tourism, shopping centres and land syndicates in the US, New Zealand and WA

$15.9bn[1] Australasian platform with enhanced geographic diversification

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NT QLD
$2.8bn $2.8bn
18% 18%
WA
(HY21: 22%) (HY21: 22%)
SA Auckland
$3.7bn $3.7bn
23% 23% $0.6bn $0.6bn $2.8bn $2.8bn $1.6bn $1.6bn
(HY21: 8%) (HY21: 8%) (HY21: 5%) (HY21: 5%) 4% 4% NSW (HY21: 20%)$18% (HY21: 20%)$18% (HY21: 16%) (HY21: 16%) 10% 10%
ACT
$0.4bn $0.4bn
Other NZ
VIC 2% 2%
Other [2] (HY21: 4%) (HY21: 4%)
$0.6bn $0.6bn
$0.5bn $2.8bn 4% 4%
3% 18% TAS $20m $20m (HY21: 6%) (HY21: 6%)
(HY21: 1%) (HY21: 18%) 0% 0%
(HY21: 0%) (HY21: 0%)
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COF: 100 BROOKES STREET, FORTITUDE VALLEY, QLD
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1. Pro forma AUM as at 18 June 2021, excludes Vitalharvest and Investment Bonds AUM, includes announced unaudited valuations

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1. Includes Bass Capital, US syndicates, cash and other assets

Merger expands distribution channels and diversifies capital sources

REAL ESTATE FUND TYPES

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Unlisted multi asset fund Unlisted multi asset fund
Unlisted multi asset 5% 10%
open ended fund
9%
Unlisted multi asset open Listed fund
ended fund 34%
8% Listed REITs $5.4bn of AUM across 3 funds
HY21 Current
Unlisted single asset $7.7bn of AUM across 143 funds
Unlisted
asset fundsingle Listed Unlisted Unlisted multi-asset open ended $1.2bn AUM across 8 funds [1]
35% fund single
51% asset fund Unlisted multi-asset $1.6bn AUM across 13 funds [1]
48%
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REAL ESTATE CAPITAL SOURCES

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Unlisted
Listed wholesale Listed
Unlisted retail 51% 25% 34%
43%
HY21 Current
Unlisted
Unlisted Unlisted retail institutional
institutional 31% 10%
5%
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Listed REITs $5.4bn of AUM Unlisted institutional $1.6bn of AUM Unlisted retail $4.8bn of AUM

Unlisted wholesale $4.0bn of AUM

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CIP: 457 WATERLOO ROAD, CHULLORA, NSW
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Note: Pro forma AUM as at 18 June 2021, excludes Vitalharvest and Investment Bonds AUM, includes announced unaudited valuations 1. Fund count excludes Centuria Bass

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Merger significantly increases scale and relevance

Merged group will be amongst the largest real estate fund managers on the ASX[1]

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ASX LISTED REAL ESTATE FUNDS MANAGER PEER SET (EXTERNAL AUM $BN) [1]
$46.8bn $49.4bn
$23.9bn
$15.9bn
$12.9bn
$9.7bn
$8.3bn
$2.9bn
$1.7bn $2.0bn
HMC 2 ENN 3 APD CMW MGR GPT CNI 4 DXS 5 CHC6 GMG
CENTURIA : ANGLESEA MEDICAL CENTRE, HAMILTON, NZ
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1. Based on external third party AUM, excluding directly owned property; Figures as at 31 December 2020 based on company filings unless otherwise stated

2. Pro forma external component of AUM as at 31 December 2020 adjusted for the $133m of HealthCo acquisitions and $322m of HDN acquisitions

3. Pro forma external component of AUM as at 31 December 2020 adjusted for the Clifford Gardens and Broadway Medical Centre acquisitions

4. Pro forma external component of AUM as at 18 June 2021, excludes Vitalharvest and Investment Bond AUM, includes unaudited valuations. Centuria holds a relevant interest of more than 90% of PWG securities, compulsory acquisition of remaining securities underway

5. Pro forma external component of AUM as at 31 December 2020 adjusted for the APD acquisition and previously announced industrial and healthcare acquisitions

6. Pro forma external component of AUM as at 31 December 2020 adjusted for the $415.4m acquisition of a portfolio of 5 long WALE office, life sciences and retail properties

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[[1]]
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Integrated expertise overseeing the combined $15.9bn real estate platform[[1]]

Property Funds Management

Property Services

Listed and Unlisted divisions benefiting from an integrated platform

Property Services across both platforms continues to deliver strong results to the funds through highly active management of the assets

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Capital Capital Funds Asset/Property Leasing Property
Transactions Sources Management Management Management Development
Asset Identification Unlisted Investors Fund Strategy Large and experienced team Direct Tenant Relationships Opportunity Analysis
Return Analysis Listed REIT Investors Corporate Governance Direct Tenant Relationships New leases & Renewals Cost Management
Institutional Partners Fund Accounting Build to own
Experienced Negotiation Dedicated Leasing Team
Investor Relations Fund through
On & off market execution
Development management
~$2.5 billion $5.4bn listed REITs
Capital sources $1.7bn+
FY21 YTD 56% unlisted $7.7bn single asset funds 400+ assets Experienced team with development pipeline
gross real estate
acquisitions [2] 34% listed REITs $2.8bn multi asset 2,300+ tenants proven leasing ability 230,000sqm+
10% institutional funds lettable area
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1. Pro forma AUM includes announced unaudited valuations

2. Includes Primewest gross acquisitions since April 2021

Continuing to enhance a sustainability framework

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Select initiatives across the Group

GOVERNANCE

• Centuria’s 2021 Sustainability Report progressing

• Reviewing and implementing new sustainability initiatives

• Evaluating opportunities to report against identified frameworks e.g. Global Reporting Initiative (GRI) Framework

• ESG Committee established, appointment of ESG General Manager

• Culture and ESG Board Committee established

• Oversight of current and emerging ESG topics e.g. climate change, human rights, diversity and inclusion

• Released first Modern Slavery Statement in March 2021

• Further updates to be provided

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GREEN STAR
INITIATIVES
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• Average NABERS Energy rating of 4.7[1]

• Systematic benchmarking of asset performance under the NABERS independent, evidence-based rating

• Targeted upgrade initiatives across assets

• Delivered 42 Hoepner Road, Bundamba, one of Australia's first 5 Star Green Star rated (V1.3) industrial assets

• 99kw solar installation system

• Innovated adoption of recycled steel fibers in the concrete

• Targeted initiatives to address the asset’s operational and embodied carbon footprint

• Centuria acknowledges the risk climate change presents to its long-term success, and will be enacting a staged response

• Assessing opportunities to adopt TCFD recommendations as part of the Group’s sustainability reporting

• Developing climate scenarios to stress test the Group’s assets and operations

• Average by value. Includes COF, fixed term fund and CDPF assets. Excludes Primewest and New Zealand assets

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Continuing momentum across the platform

• CNI FY21 Operating EPS guidance[1] of 11.5-12.5cps, 10.0cps FY21 distributions[2] declared

• Centuria Primewest merger offer declared unconditional, 90% acceptances received, compulsory acquisition of remaining securities

Corporate

• 50% stake in real estate debt fund provider, Bass Capital – c.$270m committed loan book and over $300m of pipeline opportunities

• Listed corporate notes launched in April 2021, $199m raised

• Positioned for potential near term inclusion in the S&P/ASX200 Index

• Successful integration of Centuria Healthcare and New Zealand, Primewest integration underway

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CIP: 144 HARTLEY ROAD, SMEATON GRANGE, NSW
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1. 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 2020

2. Initial FY21 DPS guidance of 8.5 cents announced on 12 August 2020, upgraded to 9.0cps on 22 October 2020, upgraded to 10.0cps on 10 February 2021. 2HFY21 distribution declared on 14 May 2021

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Continuing momentum across the platform

• Launching Centuria Government Income Property Fund, Centuria’s largest single asset unlisted fund ($224m long WALE commercial asset)

Real Estate

• $260 million Primewest, Blackrock JV for 140 St Georges Terrace, Perth, WA

• Centuria Industrial REIT (ASX: CIP) FY21 re-valuations increased $593m

• CIP included in the FTSE EPRA Nareit Global Developed Index

• Centuria Healthcare established a doctor led JV with Medibank to deliver a $64m short-stay private hospital in Kew, Melbourne

• Progressing NZ$80m Augusta Industrial Fund (AIF) capital raise

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CHPF: VERMONT PRIVATE HOSPITAL, VIC
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Definitions

Operating Segments: Group has four reportable operating segments. These reportable operating segments are the divisions which report to the Group’s Chief Executive Officers and Board of Directors for the purpose of resource allocation and assessment of performance.

The reportable operating segments are:

• Property Funds Management: Management of listed and unlisted property funds

• Investment Bonds Management: Management of the Benefit Funds of Centuria Life Limited and management of the Over Fifty Guardian Friendly Society Limited. The Benefit Funds include a range of financial products, including single and multi-premium investments

• Co-investments: Direct interest in property funds and other liquid investments

• Corporate: Overheads supporting the Group’s operating segments

Non-operating segments: Non-operating items comprises transaction costs, mark-to-market movements on property and derivative financial instruments, and all other non-operating activities. Includes Benefit Funds and Controlled Property Funds. Represents the operating results and financial position of the Benefit Funds which are required to be consolidated in the Group’s financial statements in accordance with accounting standards

AUM: Assets under management

CAGR: Compound annual growth rate

CIP: Centuria Industrial REIT comprises the Centuria Industrial REIT ARSN 099 680 252 and its subsidiaries. The Responsible Entity of CIP is Centuria Property Funds No. 2 Limited ACN 133 363 185

COF: Centuria Office REIT comprises the Centuria Office REIT ARSN 124 364 718 and its subsidiaries. The Responsible Entity of COF is Centuria Property Funds Limited ACN 086 553 639

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CNI, CCG or the Group: Centuria Capital Group comprises of Centuria Capital Limited ABN 22 095 454 336 (the ‘Company’) and its subsidiaries and Centuria Capital Fund ARSN 613 856 358 (‘CCF’) and its subsidiaries. The Responsible Entity of CCF is Centuria Funds Management Limited ACN 607 153 588, a wholly owned subsidiary of the Company

CPFL: Centuria Property Funds Limited

CPF2L: Centuria Property Funds No. 2 Limited DPS: Distribution per stapled security EPS: Earnings per stapled security IRR: Internal Rate of Return NPAT: Net Profit After Tax NTA: Net Tangible Assets

REIT: Real Estate Investment Trust WACR: Weighted Average Capitalisation Rate WALE: Weighted Average Lease Expiry

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Disclaimer

This presentation has been prepared by Centuria Capital Limited and Centuria Funds Management Limited as responsible entity of Centuria Capital Fund (together the stapled listed entity CNI). Centuria Property Funds Limited (ABN 11 086 553 639, AFSL 231 149) ('CPFL') and Centuria Property Funds Management No. 2 Limited (ABN 38 133 363 185, AFSL 340 304) ('CPF2L') are fully owned subsidiaries of CNI. CPF2L is the responsible entity for the Centuria Industrial REIT (ARSN 099 680 252) (ASX: CIP). CPFL is the responsible entity for the Centuria Office REIT (ARSN 124 364 718) (ASX: COF), the Centuria Diversified Property Fund (ARSN 611 510 699) and the rest of Centuria's unlisted property funds. Investment in Centuria's property funds is subject to risks that are set out in the Product Disclosure Statement ('PDS') for the fund. The PDS for any open fund is made available on Centuria’s website (centuria.com.au). Investors should read the PDS in full before making a decision to invest.

Past performance is not a guarantee of future performance.

This presentation contains selected summary information only and is provided for general information purposes only. It is not a prospectus, product disclosure statement, pathfinder document or any other disclosure document for the purposes of the Corporations Act and has not been, and is not required to be, lodged with the Australian Securities & Investments Commission. It should not be relied upon by the recipient in considering the merits of CNI, the Merger, the combined group, the acquisition of securities in CNI or its subsidiaries. Nothing in this presentation constitutes investment, legal, tax, accounting or other advice and it is not to be relied upon in substitution for the recipient’s own exercise of independent judgment with regard to the operations, financial condition and prospects of CNI or the combined group.

The information contained in this presentation does not constitute financial product advice. 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 presentation, including obtaining investment, legal, tax, accounting and such other advice as it considers necessary or appropriate.

This presentation has been prepared without taking account of any person’s individual investment objectives, financial situation or particular needs. It is not an invitation to buy or sell, or a solicitation to invest in or refrain from investing in, securities in CNI or any other investment product. The information in this presentation has been obtained from and based on sources believed by CNI to be reliable. To the maximum extent permitted by law, CNI and the members of the Centuria Capital Group make no representation or warranty, express or implied, as to the accuracy, completeness, timeliness or reliability of

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the contents of this presentation. To the maximum extent permitted by law, CNI does not accept any liability (including, without limitation, any liability arising from fault or negligence) for any loss whatsoever arising from the use of this presentation or its contents or otherwise arising in connection with it.

This presentation may contain forward-looking statements, guidance, forecasts, estimates, prospects, projections or statements in relation to future matters (‘Forward Statements’). Forward Statements can generally be identified by the use of forward looking words such as “anticipate”, “estimates”, “will”, “should”, “could”, “may”, “expects”, “plans”, “forecast”, “target” or similar expressions. Forward Statements including indications, guidance or outlook on future revenues, distributions or financial position and performance or return or growth in underlying investments are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. No independent third party has reviewed the reasonableness of any such statements or assumptions.

Neither CNI nor any member of Centuria Capital Group 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 presentation. Except as required by law or regulation, CNI assumes no obligation to release updates or revisions to Forward Statements to reflect any changes.

Any information on Primewest and its business and assets, including the Primewest funds, as well as the combined group, contained in this presentation has been prepared based on a review of publicly available information and should not be considered comprehensive. Information on the combined group (to the extent it incorporates or reflects information on Primewest and its business and assets, including the Primewest funds) has not been independently verified by CNI. Subject to the Corporations Act, none of CNI, its directors, nor any member of the Centuria Capital Group or their respective officers or employees make any representation or warranty (express or implied) as to the accuracy or completeness of this information.

The reader should note that this presentation may also contain pro-forma financial information. Distributable earnings is a financial measure which is not prescribed by Australian Accounting Standards (”AAS”) and represents the profit under AAS adjusted for specific non-cash and significant items. The Directors of CFML consider that distributable earnings reflect the core earnings of the Centuria Capital Fund. All dollar values are in Australian dollars ($ or A$) unless stated otherwise.

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CENTURIA METROPOLITAN REIT ASX:CMA 14

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