CENTURIA OFFICE REIT — Major Shareholding Notification 2017

Jun 20, 2017

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To_Company Name/Scheme	CENTURIA PROPERTY FUNDS LIMITED as responsible entity for CENTURIA METROPOLITAN REIT
	(together, CENTURIA METROPOLITAN REIT (CMA))
	CENTURIA PROPERTY FUNDS LIMITED - ACN 086 553 639 CENTURIA METROPOLITAN REIT NO. 1 - ARSN 124 364 718
1. Details of substantial holder (1)
Name	Salt Funds Management Limited
ACN/ARSN (if applicable)	N/A
The holder became substantial on:	16/06/17

1. Details of voting power
   The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a
   relevant interest (3) in on the

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Ordinary Shares	10,689,325	10,689,325	5.997%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
Salt Funds Management Limited	Salt Funds Management Ltd is the manager of various institutional investor portfolios and unit trusts and, in that capacity, can exercise the power to vote or dispose of the shares.	10,689,325 - Ordinary Shares

4. Details of present registered holders

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The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder $(8)$	Class and number of securities
Salt Funds Management Ltd	Guardian Nominees No.2 Ltd (as custodian for BT Funds Management (NZ) Ltd)	Guardian Nominees No.2 Ltd (as custodian for BT Funds Management (NZ) Ltd)	6,556,723 Ordinary
Salt Funds Management Ltd	National Nominees Ltd (as custodian for Salt Investment Funds Ltd)	National Nominees Ltd (as custodian for Salt Investment Funds Ltd)	3,946,634 Ordinary
Salt Funds Management Ltd	BNP Paribas Nominees (NZ) Ltd (as custodian for AMP Capital Investors (New Zealand) Ltd)	BNP Paribas Nominees (NZ) Ltd (as custodian for AMP Capital Investors (New Zealand) Ltd)	185,968 Ordinary

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a
substantial holder is as follows:

Holder of relevant interest	Date of acquisition		Consideration (9)	Class and number of securities
		Cash	Non-cash
See Annexure 1

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

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

7. Addresses

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

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Name	Address
Salt Funds Management Limited	Level 3, 44 Queen Street, Auckland 1010, New Zealand
	The Company Secretary
Centuria Metropolitan REIT (CMA)	Centuria Metropolitan REIT (CMA)
	Level 39, 100 Miller Street, North Sydney, NSW 2060

Signature

print name	Julia Diepbrink	Operations Analyst capacity
sign here		date 21/06/17

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an
  equity trust), the names could be included in an ann $(1)$ throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B (7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant $(5)$ interest in.
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(6)$
• $(7)$ Include details of:
• any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out $(a)$ the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to $(b)$ which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown". $(8)$
• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become $(9)$ entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

Annexure 1

Company ACN/ARSN

360 Capital Total Return Fund (TOT) the stapled entity comprising 360 Capital Total Return Active Fund (ARSN: 602 303 613) and 360 Capital Total Return Passive Fund (ARSN: 602 304 432)

5. Consideration

Holder of relevant interest	Nature of	Date of	Consideration (9)		Class and number of
	transaction	transaction			securities
			Cash	Non-cash
Salt Funds Management Ltd	Purchase	$20 - 02 - 17$	\$328,822.13		146,423 Ordinary
Salt Funds Management Ltd	Purchase	$23 - 02 - 17$	\$13,685.58		6,039 Ordinary
Salt Funds Management Ltd	Purchase	$07 - 03 - 17$	\$120,270.73		52,253 Ordinary
Salt Funds Management Ltd	Purchase	08-03-17	\$24,205.20		10,524 Ordinary
Salt Funds Management Ltd	Purchase	$10-03-17$	\$32,544.72		14,274 Ordinary
Salt Funds Management Ltd	Purchase	$23 - 03 - 17$	\$179,195.30		77,911 Ordinary
Salt Funds Management Ltd	Purchase	$24 - 03 - 17$	\$15,301.48		6,618 Ordinary
Salt Funds Management Ltd	Purchase	$29 - 03 - 17$	\$34,781.46		15,154 Ordinary
Salt Funds Management Ltd	Purchase	$31 - 03 - 17$	\$23,026.96		9,919 Ordinary
Salt Funds Management Ltd	Purchase	$06 - 04 - 17$	\$19,409.82		8,309 Ordinary
Salt Funds Management Ltd	Sale	$13 - 04 - 17$	$-5166,600.00$		-70,000 Ordinary
Salt Funds Management Ltd	Purchase	$21 - 04 - 17$	\$243,930.96		104,244 Ordinary
Salt Funds Management Ltd	Sale	05-05-17	$-59,271.86$		-3,900 Ordinary
Salt Funds Management Ltd	Sale	09-05-17	$-589,459.94$		-37,574 Ordinary
Salt Funds Management Ltd	Sale	$10 - 05 - 17$	$-585,325.36$		-35,698 Ordinary
Salt Funds Management Ltd	Sale	$11 - 05 - 17$	$-554,798.61$		$-22,828$ Ordinary
Salt Funds Management Ltd	Sale	12-05-17	$-$12,180.00$		-5,000 Ordinary
Salt Funds Management Ltd	Purchase	$16 - 05 - 17$	\$306,995.58		129,534 Ordinary
Salt Funds Management Ltd	Purchase	$17 - 05 - 17$	\$72,025.40		30,361 Ordinary
Salt Funds Management Ltd	Purchase	$18 - 05 - 17$	\$61,027.24		25,859 Ordinary
Salt Funds Management Ltd	Purchase	19-05-17	\$101,333.68		42,938 Ordinary
	Merger
Salt Funds Management Ltd	consideration*	16-06-17	\$0.00		4,882,341 Ordinary

This is Annexure 1 of 1 pages referred to in Form 603 Notice of Initial Substantial Holder

* New CMA units received as per CMA/CUA merger scheme implementation agreement.

Julia Diepbrink

21-06-17 Date

Operations Analyst Capacity