Ellerston Capital Limited ABN 34 110 397 674 AFSL No. 283 000

Level 11, 179 Elizabeth Street Sydney NSW 2000 Phone +612 9021 7797 Fax +612 9261 0528 www.ellerstoncapital.com

TO: The Manager, Company Announcements, ASX

FAX No:

FROM: Ellerston Capital Limited

5/04/2019 DATE:

NO. OF PAGES (Including this page) 6

Dear Manager

Centuria Capital Group (comprising Centuria Capital Limited, Centuria Funds Management Limited & Centuria RE: Capital Fund) - Form 605

We attach our notice of ceasing to be a substantial holder (Form 605) in respect of Centuria Capital Group (comprising Centuria Capital Limited, Centuria Funds Management Limited & Centuria Capital Fund).

We note that the shares reported in this Form are owned by third party accounts under the discretionary investment management of Ellerston Capital Limited.

None of Ellerston Capital Limited, nor any of its shareholders or any of their associates hold a direct interest in any shares disclosed in this Form.

Yours sincerely,

INVelley

lan Kelly Company Secretary Ellerston Capital Limited

Form 605 Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	Centuria Capital Group (comprising Centuria Capital Limited, Centuria Funds Management Limited & Centuria Capital Fund)
ACN/ARSN/ARBN	095 454 336, 607 153 588 & 613 856 358
1. Details of substantial holder (1)

Name	Ellerston Capital Limited (Primary Person), and its associates being those persons listed in Annexure B
ACN/ARSN (if applicable)	ACN 110 397 674
The holder ceased to be a substantial on		3/04/2019
The previous notice was given to the company on		8/03/2019
The previous notice was dated		8/03/2019

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (4)	Consideration given in relation to change (5)	Class (6) and Inumber of securities affected	Person's votes affected
See Annexure A	ISee Annexure A	See Annexure A	See Annexure A	See Annexure A	See Annexure A

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
N/A

4. Addresses

The addresses of persons named in this form are as follows:

IName	Address
ISee annexure	The Substantial Shareholder - c/- Level 11, 179 Elizabeth Street, Sydney, NSW, 2000
	The entities listed in Annexure $A - cI$ - Level 11, 179 Elizabeth Street, Sydney, NSW, 2000
Centuria Capital Group (comprising Centuria Capital Limited, Centuria Funds Management Limited & Centuria Capital Fund)	Level 39, 100 Miller Street, NORTH SYDNEY, NSW, 2060

AW KEL
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Signature

print name

capacity	Company Secretary

date	5/04/2019

sign here

Centuria Capital Group (comprising Centuria Capital Limited, Centuria Funds Management Limited & Centuria Capital Fund)
095 454 336, 607 153 588 & 613 856 358

This is Annexure A of 1 pages referred to in Form Form 605 Notice of ceasing to be a substantial holder.

Signature
print name	-	capacity	Company Secretary
sign here		date	5/04/2019

Date of Change	Person whose relevant interest changed	Consideration give in relation to change (5)	Class (6) and number of securities affected
3/04/2019	Primary Person	\$2,500,000.00	-1,785,714 Securities
1/04/2019	Primary Person	\$15,098.00	-10,784 Securities
29/03/2019	Primary Person	\$13,839.00	-9,885 Securities
28/03/2019	Primary Person	\$6,366.00	4,684 Securities
27/03/2019	Primary Person	\$157,480.00	115,800 Securities
26/03/2019	Primary Person	\$236,464.00	173,870 Securities
25/03/2019	Primary Person	\$18,091.00	13,205 Securities
22/03/2019	Primary Person	\$47,603.00	34,550 Securities
21/03/2019	Primary Person	\$2,086.00	1,517 Securities
15/03/2019	Primary Person	\$365.00	264 Securities