CENTURIA INDUSTRIAL REIT — M&A Activity 2015

May 18, 2015

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19 May 2015

Company Announcement Office ASX Limited 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

Section 630(3) Notice: Status of conditions

360 Capital Investment Management Limited ( 360 CIML ) as responsible entity for the 360 Capital Industrial Fund ( Bidder ) refers to the off-market takeover bid ( TIX Offer ) for all the units in Australian Industrial REIT ( ANI ).

On 6 May 2015, Bidder declared the TIX Offer unconditional.

In compliance with section 630(3) of the Corporations Act 2001 (Cth), enclosed is a copy of the Bidder's notice of the status of conditions to the TIX Offer.

Yours sincerely,

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Alan Sutton Company Secretary 360 Capital Investment Management Limited

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360 Capital Investment Management Limited ABN 38 133 363 185 Level 8, 56 Pitt Street Sydney NSW 2000 Phone: (02) 8405 8860 Fax: (02) 9238 0354 Web: www.360capital.com.au

360 Capital Investment Management Limited as Responsible Entity for 360 Capital Industrial Fund

Section 630(3) Notice

Status of Defeating Conditions

• TO: Fife Capital Funds Limited in its capacity as responsible entity of Australian Industrial REIT ( ANI )

Australian Securities Exchange ( ASX )

Reference is made to:

• (a) the takeover offer by 360 Capital Investment Management Limited as responsible entity for the 360 Capital Industrial Fund ( Bidder ) for all the units in ANI ( TIX Offer ) dated 17 February 2015; and

• (b) the replacement bidder's statement dated 13 February 2105 in relation to the TIX Offer (as supplemented) ( Bidder's Statement ).

Bidder gives notice under section 630(3) of the Corporations Act 2001 (Cth) that:

• (a) the TIX Offer is free from the conditions set out in Appendix 1 of the Bidder's Statement (being all of the defeating conditions to the TIX Offer);

• (b) so far as Bidder knows:

  • (i) Condition K entitled "Bidder Trading Price" in Appendix 1 of the Bidder's Statement has been fulfilled; and

  • (ii) the remaining conditions set out in Appendix 1 of the Bidder's Statement were not fulfilled on the date this notice is given;

• (c) Bidder's voting power in ANI is 26.79%.

Yours sincerely,

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David van Aanholt

Independent Chairman 360 Capital Investment Management Limited Date: 19 May 2015