CENTURIA CAPITAL GROUP — M&A Activity 2020

Jul 7, 2020

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Centuria Capital Group (CNI)
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Centuria Declares Augusta Capital Takeover Offer Unconditional

• Acceptances to Centuria’s full takeover represent 65.86% of Augusta’s shares[1]

• Takeover offer is now unconditional, providing NZ$0.22 in cash plus 0.392 Centuria stapled securities for each Augusta share

• Centuria AUM increases 24% on offer completion to A$8.9 billion

SYDNEY (8 July 2020) – Centuria Capital Group (ASX: CNI), through its wholly-owned subsidiary, Centuria New Zealand Holdings Limited (“Centuria NZ”), has declared its full takeover offer for Augusta Capital (NZX: AUG or “Augusta”) unconditional[1] .

Since opening the offer on 29 June 2020, Centuria NZ has acceptances which, together with its existing shareholdings in Augusta, represent 65.86% of Augusta’s shares.

John McBain, Centuria Joint CEO, said, “I am delighted to report close to two-thirds of Augusta shares[1] have been secured within eight business days of the takeover offer commencing and to report that Centuria has declared the offer unconditional.

“We are encouraged by the significant response and we are looking forward to completion of the offer and expanding Centuria’s funds management platform into the New Zealand market. Augusta is a substantial player in this market with a highly effective team. We anticipate New Zealand to be an important growth engine within the Centuria platform.

“Moreover, given the relative strength of the Australian commercial market, the position Centuria enjoys on the S&P/ASX 300 and Centuria’s strong distribution history, we are excited for so many Augusta shareholders taking up Centuria scrip.”

Progress of the offer

On 30 June, Centuria NZ varied its offer by increasing the cash component from NZ$0.20 to NZ$0.22 per Augusta share. The scrip component of 0.392 Centuria stapled securities per Augusta share remained unchanged. On that date, Centuria NZ also indicated its intention for the offer to become unconditional if acceptances were received which, together with Centuria NZ’s existing shareholdings, represented 63.5% of Augusta’s shares.

As at 8 July, acceptances of the offer, together with Centuria’s existing shareholding, represent 65.86 % of Augusta’s shares.

Centuria NZ has notified the increase in the cash component of the offer to Augusta shareholders. All shareholders who have accepted the offer will receive the higher cash component.

-ENDS-

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

John McBain Jason Huljich Joint CEO Joint CEO Centuria Capital Limited Centuria Capital Limited Phone: 02 8923 8910 Phone: 02 8923 8910 Email: john.mcbain@centuria.com.au Email: jason.huljich@centuria.com.au

1 Including Centuria NZ’s existing 23.3% shareholding

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

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

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

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Centuria Capital Group (CNI)
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Tim Mitchell	Alexandra Koolman
Group Head of Investor Relations	Corporate Communications Senior Manager
Centuria Capital Limited	Centuria Capital Limited
Phone: 02 8923 8923	Phone: 02 8923 8923
Email: tim.mitchell@centuria.com.au	Email: 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 $7.2 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 rewarding 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 http://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.

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