Slide 1: Centuria Capital Group HY26 results
25 FEBRUARY 2026 | ASX:CNI Centuria Capital Group HY26 results UNLISTED: TWO WELLS GLASSHOUSE, SA | AUSTRALIA’S LARGEST HYDROPONIC GLASSHOUSE
Slide 2: Agenda and Presenters
RESETDATA Agenda Presenters • Group • John McBain, Joint CEO • Divisions • Jason Huljich, Joint CEO • Financial result • Simon Holt, CFO • Strategy and outlook • Appendices Acknowledgement of Country Our Group manages property throughout Australia and New Zealand. Accordingly, Centuria pays its resp
Slide 3: Group
UNLISTED: LOGAN PORT ADELAIDE SUPER CENTRE, INDUSTRIAL QLD FUND, SA Group SECTION ONE
Slide 4: Guidance upgrade, strong funds management and private investor activity
Guidance upgrade, strong funds management and private investor activity Capital Platform Execution Outlook management $21.8bn $0.5bn $1.78 New Group AUM record HY26 real estate acquisition activity1 Net asset value2,3 13.6cps (FY25: $20.6bn) $1bn target on track FY26 OEPS guidance upgraded (FY25: $1
Slide 5: A leading Australasian platform positioned for growth
A leading Australasian platform positioned for growth $21.8bn Group AUM1 Property funds management Property Investment Sovereign and property investment development bonds AI and finance $4.1bn $2.0bn $0.1bn $6.1bn $3.0bn $3.0bn $2.5bn $1.0bn 1.1MW3 CENTURIA CENTURIA ASSET PLUS SINGLE ASSET MULTI-ASS
Slide 6: Platform diversification underpins earnings quality
Platform diversification underpins earnings quality • Resilient through sharpest rate rising cycle in • Demonstrated growth in underlying Group profit • Momentum into 2H26. FY26 operating earnings decades. New Group AUM record in HY26. drivers. upgraded. Assets under management ($bn) Recurring earni
Slide 7: Capital flows present opportunities for new Centuria products
Capital flows present opportunities for new Centuria products • Centuria platform WACR is • Super guarantee to 12% (FY26) • Private real estate remains an • Expiring bank hybrids won’t be significantly above term deposit with sustained inflows. attractive global investment option. replaced. rates. •
Slide 8: Centuria Bass Credit: Positioned for growth in an expanding market
Centuria Bass Credit: Positioned for growth in an expanding market 250 Centuria Bass Credit has ~1% share 1.20% 36% Centuria Bass Credit CAGR since 2021 JV of total Australian private credit market2,3 200 14% Market CAGR since Centuria Bass Credit 2021 JV1 1.00% 13% A&M market forecast CAGR 2025-202
Slide 9: Divisions
LISTED: DATA CENTRE, PIPE STREET, WELLCAMP QLD Divisions SECTION TWO
Slide 10: Property funds management and property investment
Property funds management and property investment Property funds management Property investment $18.3bn 100 6.4% $1.4bn PFM AUM Real estate funds2,3 Platform WACR2,3 CNI proportionate balance sheet (FY25: $17.4bn) (No unlisted fund over 3% of AUM) (FY25: 6.4%) investment properties $0.7bn 400+ 95% 6
Slide 11: Property funds management: integration and value creation
Property funds management: integration and value creation Unlisted Listed Centuria Port Adelaide Industrial Fund Transactions • $216m acquisition established Australia’s • CIP: Divested its 50% interest in 42 Hoepner largest single-asset unlisted industrial fund. Road for a 10% premium to book value
Slide 12: A leading private capital network and growing institutional partnerships
A leading private capital network and growing institutional partnerships 150+ 15,500+ c.2,000 1,200+ Representation on all major Australian wrap 8 Unlisted funds and Active advisers recommending platforms and strong NZ Institutional partners Total unlisted New unlisted investors loan SPVs under in C
Slide 13: Property and development finance: Centuria Bass Credit
Property and development finance: Centuria Bass Credit Platform Execution Management Opportunity Demonstrated growth Deep expertise Book composition Positioned for growth $2.5bn 196 Real estate finance AUM Loans originated 92% $224bn (FY25: $2.3bn) First mortgage exposure3,4 since inception Private
Slide 14: Property and development finance: Deep expertise in real estate lending
Property and development finance: Deep expertise in real estate lending Assets under management ($bn) Loans originated ($m)1 Loans exited ($m)2 2.3 2.5 1,223 1,122 1.9 867 795 1.3 564 659 631 570 0.6 0.8 303 198 FY21 FY22 FY23 FY24 FY25 HY26 FY22 FY23 FY24 FY25 HY26 FY22 FY23 FY24 FY25 HY26 1st mort
Slide 15: ResetData is at an early stage as part of a long-term data-centre strategy
ResetData is at an early stage as part of a long-term data-centre strategy • Centuria combines organic growth with select inorganic opportunities. • Centuria’s growth strategy focuses on creating sector expertise, differentiated distribution channels, strategic partnerships and scalable revenue stre
Slide 16: Sovereign AI and Data Centres: Evolving a long-term strategy
Sovereign AI and Data Centres: Evolving a long-term strategy • Across Australia, there are limited opportunities for development sites dedicated to operational DCs before 2030. • Centuria DC: c.60MW of existing and near-term power capacity. • Current focus: execute planning and power outcomes to max
Slide 17: Financial result
UNLISTED: 45 BRITTON ST, SMITHFIELD NSW Financial result SECTION THREE
Slide 18: Segment results
Segment results HY26 ($m) HY25 ($m) Statutory NPAT1,2 49.8 14.8 Strong growth supported by sustained stability in recurring Statutory EPS1,2 6.0 1.8 1 revenues, increased transaction volumes and performance fee contributions. Operating segment results 1 Property funds management3 34.6 23.2 Group rec
Slide 19: Property funds management earnings
Property funds management earnings HY26($m) HY25($m) 36.5% Management fee revenue 70.6 69.8 HY26 PFM EBIT Margin1 Transaction fees 9.2 1.5 (HY25: 28.0%) Performance fees 11.1 3.9 $11.1m Other income 1.1 3.7 HY26 Performance fees booked (HY25: $3.9m) Investment management fee revenue 92.0 78.9 Expens
Slide 20: Strong balance sheet and cash recycling supports platform activities
Strong balance sheet and cash recycling supports platform activities HY26 FY25 CNI debt maturity profile Net asset value per security (NAV)1,2 $ 1.78 1.79 • Repaid secured listed redeemable notes (Oct-25). • No debt expiring until FY27. Cash realised from the sale and recycling $m 133 194 • CNI aver
Slide 21: Active debt capital management across Centuria's real estate funds platform
UNLISTED: 205 FORDYCE RD, HELENSVILLE AUCKLAND NZ Active debt capital management across Centuria’s real estate funds platform HY26 FY25 Lenders # 24 25 Average margins improved Total lending facilities across platform $bn 8.3 7.6 13bps to 1.57% in HY26. Weighted average debt duration1 yrs 2.3 2.2 We
Slide 22: Strategy and outlook
UNLISTED: LOGAN SUPER CENTRE, LOGAN QLD Strategy and outlook SECTION FOUR
Slide 23: Building momentum and remaining nimble as markets evolve
Building momentum and remaining nimble as markets evolve • Scale traditional and alternative sectors where Centuria has proven operating capability and distribution advantages. Property Funds • Real estate acquisitions of $0.8bn currently in DD or secured since 31-Dec-25. Management • Attract new an
Slide 24: Appendices
UNLISTED: ADENEY PRIVATE HOSPITAL, VIC Appendices SECTION FIVE
Slide 25: ~30 years of real estate funds management experience
~30 years of real estate funds management experience overseeing Centuria’s 1. 2. 3. operations Capital Funds Treasury transactions management 7. 6. 5. 4. Facilities Property Leasing Asset management management management Fully integrated end-to-end investment management services 10. A leading Austra
Slide 26: CNI ESG highlights
Climate change Valued stakeholders Responsible (Environment) (Social) business practices CNI ESG highlights (Governance) • Centuria is targeting zero scope • Ongoing support for Two Good • 2025 GRESB results 2 emissions by 2035, with CIP Co, installed across 37 assets to ▪ CIP | The only pure-play a
Slide 27: Group AUM
Group AUM $21.8bn $21.0bn $21.1bn $20.6bn $20.6bn $17.4bn 12.1 Unlisted real 12.3 estate 12.5 11.4 12.2 10.7 $8.8bn 4.0 Listed real 6.2 estate 6.0 6.0 6.4 6.8 5.5 4.0 Real estate 2.3 2.5 finance 1.9 0.8 1.3 0.3 0.8 0.9 0.8 0.8 0.9 0.9 1.0 Investment bonds FY20 FY21 FY22 FY23 FY24 FY25 HY26 Centuria
Slide 28: AUM by fund type and capital source
AUM by fund type and capital source Real Large Real Large Daily Daily Sector Industrial Office estate format AgricultureHealthcare Sector Industrial Office estate format Agriculture Healthcare needs needs finance retail finance retail Fund type1 AUM ($bn) $6.7 $6.0 $2.5 $1.8 $1.3 $1.3 $1.1 Capital s
Slide 29: AUM and valuations
AUM and valuations AUM ($ billions) Valuation movements to 31 December 20251,2 0.4 0.2 0.2 0.1 21.8 20.6 0.5 -0.2 Value Value Cap rate Cap rate WACR3 12 months 6 months 12 months 6 months Industrial 3.05% 0.64% (1) bps (4) bps 5.95% Office 0.27% 0.34% 12 bps 2 bps 6.87% Large format 6.13% 1.10% (7)
Slide 30: $20.8bn diversified Australasian real estate platform
$20.8bn diversified Australasian real estate platform1,2 Top tenants by income (%)3,4 NT 0% Government 11.7% 1 property valued at $18m WA 22% QLD 14% Woolworths Limited 82 properties and real 69 properties and real estate estate finance loans finance loans valued at $2,774m ASX/NZX Listed 3.0% value
Slide 31: Property funds management and property investment
Property funds management and property investment Funds & Assets & Acquisitions Divestments CNI CNI CNI FY25 HY26 Listed Unlisted WACR WALE Occupancy loan SPVs loan and loan and loan proportionate proportionate proportionate SECTOR1 AUM AUM AUM AUM (%)2,3 (yrs)2 (%)2 (No.) tranches origination exits
Slide 32: ASX CIP and ASX COF
ASX CIP: Australia’s largest domestic pure play industrial REIT ASX COF: Australia’s largest pure play office REIT HY261 HY251 HY26 HY25 Number of assets # 85 87 Number of assets # 19 19 Book value $m 3,931 3,803 Book value1 $m 1,946 1,886 WACR % 5.81 5.83 WACR % 6.92 6.77 GLA sqm 1,274,867 1,284,93
Slide 33: Property development: $1.5bn pipeline to seed funds
LISTED: ARTIST’S IMPRESSION 50-64 MIRAGE ROAD, DIREK SA Property development: $1.5bn pipeline to seed funds Committed Future Pipeline HY26 Gross Pipeline Total (est. value on Completions (est. value on Pipeline completion)1,3,4 completion)1,2 Sector $M GLA $M GLA $M GLA $M GLA Industrial - - 130 67,
Slide 34: Property and development finance: Centuria Bass Credit composition
Property and development finance: Centuria Bass Credit composition Security Geography Sector NSW, 71% VIC, 18% Residential, 88% 1st Lien, 92% QLD, 4% Mixed use, 8% 2nd Lien, 8% ACT, 3% Commercial, 4% WA, 3% NZ, 1% Facility type Funding structure Capital source Bridge, 34% Single loan funds, 14% Subd
Slide 35: Investment Bonds: Centuria Life
Investment Bonds: Centuria Life Flows HY26 HY26 FY25 Change Applications Redemptions Assets under management ($m) ($m) (%) ($M) ($M) $1.0bn Prepaid funeral plans (Guardian)1 589.3 565.3 4.3 23.2 (25.2) AUM Unitised bonds (Centuria Life) 212.3 215.4 (1.4) 2.7 (8.0) Centuria LifeGoals 148.8 131.1 13.5
Slide 36: Reconciliation of statutory profit to operating profit
LISTED: 2 WOOLWORTHS WAY, WARNERVALE NSW Reconciliation of statutory profit to operating profit HY26 ($m) HY25 ($m) Statutory profit after tax1,2 49.8 14.8 Statutory EPS (cents)1,2 6.0 1.8 ADJUSTED FOR NON-OPERATING ITEMS Loss/(gain) on fair value movements in derivatives and investments (1.0) 36.1
Slide 37: CNI operating balance sheet
UNLISTED: LOGAN SUPER CENTRE, QLD CNI operating balance sheet HY26 ($m) FY25 ($m) Assets Cash and cash equivalents 168.9 185.6 Receivables 140.7 131.4 Financial assets 18.9 62.8 Other assets 22.5 4.4 Property, plant and equipment 42.2 38.7 Inventory 18.6 36.9 Investment properties 1,407.0 1,402.7 De
Slide 38: Definitions
Definitions Operating Segments: The Group has five reportable operating Bass Credit's Special Purpose Vehicles (SPVs) used to source its subsidiaries and Centuria Capital Fund ARSN 613 856 358 segments. These reportable operating segments are the divisions capital from investors through Non-recourse
Slide 39: Disclaimer
Disclaimer This presentation has been prepared by Centuria Capital Limited and Centuria Funds Management Limited (‘CFML’) 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
Slide 40: Office locations and contacts
AUSTRALIA Sydney (head office) Melbourne (02) 8923 8923 (03) 9616 6500 Level 41, Chifley Tower Level 47 2 Chifley Square 101 Collins Street Sydney NSW 2000 Melbourne Vic 3000 Brisbane Perth (07) 3905 7000 (08) 9321 7133 Suite 2802, Riverside Centre Level 27 Level 28, 123 Eagle Street 140 St Georges