Centuria Industrial Reit · ASX:CIP
Centuria Industrial Reit — FY2026 Earnings Presentation
48 slides from Centuria Industrial Reit's earnings presentation, Aug 11, 2026
Slide 1: Centuria Industrial REIT FY26 results
11 AUGUST 2026 | ASX:CIP Centuria Industrial REIT FY26 results 15-19 CARIBOU DRIVE, DIREK SA
Slide 2: Speakers
Speakers Grant Nichols Kate Mitchell Michael Ching Head of Listed Funds & Fund Manager – Fund Manager – Data Centres Deputy Fund Manager – Centuria Industrial REIT Centuria Capital Group Centuria Industrial REIT Centuria ASX:CIP 2
Slide 3: Agenda
30 FULTON DRIVE, DERRIMUT VIC Agenda 1. Overview 2. Data Centre opportunity 3. Financial results 4. Operational performance 5. Outlook and guidance 6. Appendices Acknowledgement of Country Our Group manages property throughout Australia and New Zealand. Accordingly, Centuria pays its respects to the
Slide 4: Centuria Capital Group: A leading Australasian ASX funds manager
Centuria Capital Group: A leading Australasian ASX 200 funds manager Centuria is highly aligned with CIP as its external manager1 and largest unitholder Centuria Capital Group (ASX:CNI) Proven manager of high 25+ year history servicing a conviction traditional and A diversified platform by deep netw
Slide 5: Overview
24-32 STANLEY DRIVE, SOMERTON VIC Overview SECTION ONE
Slide 6: CIP: Vision, strategy and objectives
CIP: Vision, strategy and objectives VISION A clear and simple strategy To be Australia’s Deliver income and capital growth to investors from a portfolio of leading domestic pure- high-quality Australian industrial assets play industrial REIT Centuria Industrial Key objectives REIT (CIP) Australia’s
Slide 7: FY26 delivered on operations, value and capital management
50-64 MIRAGE ROAD, DIREK SA FY26 delivered on operations, value and capital management Near record volume of leasing $200m of divestments in FY26 completed across portfolio, maintaining executed at 17% premium to book high portfolio occupancy value Re-leasing spread of 30% once All completed develop
Slide 8: FY26 key metrics and FY27 guidance
FY26 key metrics and FY27 guidance Portfolio Financial Guidance 95.2% 5.2% 18.2cpu 16.8cpu 18.8cpu – 19.2cpu Occupancy1 Like for like NOI FY26 FFO FY26 FY27 earnings guidance5 growth delivered distributions delivered ▲ up to 5.5% growth over FY26 7.0yr 30% 34.9% $4.01 WALE re-leasing NTA per unit Ge
Slide 9: Consistently strong NOI growth providing earnings momentum
Consistently strong NOI growth providing earnings momentum FFO growth (cpu) Portfolio under-renting and lease expiry profile 19.2 Chart Title Proportion under-rented2 18.8 14.4% 18.2 11.0% 17.5 9.5% 17.2 17.0 4.8% 2.7% FY23 FY24 FY25 FY26 FY27 guidance 1 Vacant FY27 FY28 FY29 FY30 +5%p.a. average ne
Slide 10: Data centre opportunity
DATA CENTRE, PIPE STREET, WELLCAMP QLD Data centre opportunity SECTION TWO
Slide 11: Australia's data centre market: An opportunity for CIP
Australia’s data centre market: An opportunity for CIP Underpinned by - tight supply, enduring structural market advantages, and resilient AI-fuelled growth 1 2 3 Supply reality Australia edge Demand wave Prospective demand is being adversely Competitive cost base, sovereign positioning AI is a new
Slide 12: CIP data centre strategy: Targeting real estate returns from data centres
CIP data centre strategy: Targeting real estate returns from data centres Two different asset strategies Targeting real estate returns No operating risk • Existing operational data centres provide • The CIP data centre strategy is targeted • CIP cannot operate data centres but can long term leases,
Slide 13: Pathway to increased 250MW+
CIP’s data centre footprint: existing operating data centres and near-term development opportunities Pathway to Toowoomba Qld increased 250MW+ potential DC Hazlemere WA capacity Malaga WA Yarraville Vic Thomastown Vic Operating data centre Operating data centre with development opportunity Clayton V
Slide 14: CIP data centre property portfolio
CIP data centre property portfolio CLAYTON VIC THOMASTOWN VIC TOOWOOMBA QLD ARTIST’S IMPRESSION • Telstra triple net lease over an existing data centre until • Landholding of 10.6 hectares • Operational data centre with a triple net lease to Centuria 2050 • Less than 100m from the existing Thomastow
Slide 15: Financial results
8 LEXINGTON DRIVE, BELLA VISTA NSW Financial results SECTION THREE
Slide 16: Funds from operations (FFO)
149 KERRY ROAD, ARCHERFIELD QLD Funds from operations (FFO) Revenue FY26 FY25 Variance Strong re-leasing spreads driving Net property income $m 204.0 192.3 11.7 5.2% like-for-like NOI growth Share of net profit of equity accounted investments $m 7.0 3.5 3.5 Interest income $m 1.2 1.4 (0.2) Total rev
Slide 17: Capital management
Capital management Strong balance sheet maintained with 34.9% gearing $450m of debt refinanced Debt maturity profile ($m) Strong lender support on competitive terms. 325 Margins secured c.10-20bps lower than prior Domestic and International banks terms while increasing duration. A$MTN Exchangeable n
Slide 18: Operational performance
310 SPEARWOOD AVENUE AND LOT 14 SUDLOW ROAD, BIBRA LAKE WA Operational performance SECTION FOUR
Slide 19: Australia's largest listed domestic pure-play industrial REIT
Australia’s largest listed domestic 100% exposure to Australian industrial property pure-play industrial REIT Portfolio snapshot FY261 WA 10% Qld 19% Number of assets # 83 total portfolio total portfolio Book value $m 3,934 WACR % 5.80 4.7 yrs 10.0 yrs WALE WALE GLA sqm 1,233,918 Average asset size
Slide 20: Case study: Melbourne leasing
Case study: Centuria’s active management achieves significant leasing success in challenging market Melbourne leasing Broader Melbourne market • Leasing has been challenging with Melbourne recording the highest vacancy rate nationally, increasing from 4.1% to 4.7% over the year1. 346 Boundary Road,
Slide 21: $200m of opportunistic, non-core divestments
$200m of opportunistic, non-core divestments • 17% average premium to book 67-69 Mandoon Road, Girraween NSW - $98.0m value achieved on FY26 15% premium divestments. • 4.9% average passing yield on FY26 divestments. 50-64 Mirage Road, Direk SA - $50.0m 33% premium • Demonstrates strong direct market
Slide 22: Portfolio valuations
Portfolio valuations FY26 FY25 Valuation valuation valuation movement1 FY26 FY25 Movement Fifth consecutive period of valuation ($’000) ($’000) ($’000) WACR WACR WACR gains across the portfolio Like-for-like portfolio/ weighted 3,823 3,706 116 5.81% 5.84% (0.03%) average summary2,3 Acquisitions 61 -
Slide 23: CIP portfolio significantly below replacement cost estimates
CIP portfolio NSW Vic Qld WA SA significantly below Replacement cost estimate ($/sqm)2 8,231 4,424 4,359 4,084 3,734 replacement cost CIP portfolio ($/sqm)3 3,443 2,521 3,136 2,014 2,160 estimates CIP discount (%) (58%) (43%) (28%) (51%) (42%) CIP portfolio valuation is National Average – Replacemen
Slide 24: Development summary
Development summary Strategic divestments can continue to support development funding requirements CIP has established a track record in unlocking embedded value from infill sites. Current project estimates Current projects Future projects 1 ~10,000 sqm ~$20m ~$38m Projects GLA Devex end value1 12-2
Slide 25: CIP ESG highlights
CIP ESG highlights Responsible business Climate change Valued stakeholders practices (Environment) (Social) (Governance) • Targeting zero scope 2 • 92% of employees are proud to • 2026 GRESB participation | The emissions by 20281 work at Centuria only pure-play industrial listed • 1.4 MW solar insta
Slide 26: Market outlook and guidance
29 PENELOPE CRESCENT, ARNDELL PARK NSW Market outlook and guidance SECTION FIVE
Slide 27: Australian industrial markets
Australian industrial markets Expected increase in tenant demand will coincide with a constrained supply pipeline Net absorption forecast to recover from 2026 onward1 Vacancy forecast to peak in 2026, reducing to 2%-3% by 20291 Logistics and Industrial net absorption by state (million sqm) 4.5 9.0%
Slide 28: Australian industrial markets
Australian industrial markets Outlook is supportive for industrial landlords Incentives forecast to trend lower1 Continued rental growth over the medium term1 National L&I prime incentives 6.0% 18.0% 5.0% 16.0% 4.0% 14.0% 12.0% 3.0% 10.0% 2.0% 8.0% 1.0% 6.0% 0.0% Sydney Melbourne Brisbane Adelaide P
Slide 29: FY27 FFO guidance
12-13 & 14-17 DANSU COURT, HALLAM VIC FY27 FFO guidance1 FFO per unit1 18.8c – 19.2c Up to 5.5% above FY26 Distribution per unit1 17.3c 3% above FY26 Distributions expected to be paid in quarterly instalments 1. Guidance remains subject to unforeseen circumstances and material changes in operating c
Slide 30: Appendices
204-208 BANNISTER ROAD, CANNING VALE WA Appendices SECTION SIX Appendix A: Growth drivers for industrial real estate Appendix B: CIP’s infill portfolio construction strategy Appendix C: Sydney and Melbourne industrial land supply Appendix D: CIP’s high quality tenant customers Appendix E: Exposure t
Slide 31: Appendix A: Growth drivers for industrial real estate
Appendix A: Growth drivers for industrial real estate Key themes providing market tailwinds Increased ecommerce Demographics1 Supply imbalance1 adoption1 • Each additional c.$1bn of online sales requires • Recent population growth indicates c.5.5sqm of Australian • Higher construction costs, capital
Slide 32: Appendix B: CIP's infill portfolio construction strategy
Appendix B: CIP’s infill portfolio construction capitalises CIP portfolio on industry growth drivers strategic metrics A predominantly infill portfolio Providing tenants with proximity to customer bases and Exposure to growth sub-sectors Significant portfolio exposure to ecommerce, data centres 86%
Slide 33: Appendix C: Sydney and Melbourne industrial land supply
Appendix C Sydney industrial land supply • New land supply concentrated around the new Badgerys Creek Airport precinct, Kemps Creek and Eastern Creek. • Current planning delays and increased infrastructure costs delaying new supply coming to market. CIP’s portfolio is well positioned in supply const
Slide 34: Appendix D: High quality tenant customers
Appendix D: High quality tenant customers CIP’s portfolio is constructed to attract and service some of Australia's best industrial Leveraging CIP’s scale to tenant customers. generate a ‘networking effect’ to grow and service customers Tenant industry sector diversifications by income across multip
Slide 35: Appendix E: Exposure to the major industrial sub-sectors
Appendix E: Exposure to the major industrial sub-sectors1 A well-balanced portfolio across the major industrial sub-sectors Distribution centres Manufacturing and Transport logistics Data centres Cold storage production 41% portfolio 24% portfolio 14% portfolio 13% portfolio 7% portfolio value value
Slide 36: Appendix F: Lease expiry by state
Appendix F: Lease expiry by state Sub portfolio expiry profile (% by income) WALE OCCUPANCY GLA WALE OCCUPANCY GLA NSW Vic 4.1yrs 93.1% 373,105 sqm 9.1yrs 97.2% 428,420sqm 56.2 55.8 14.3 14.3 12.4 15.7 8.3 8.7 6.9 2.8 4.6 Vacant FY27 FY28 FY29 FY30 FY31 Vacant FY27 FY28 FY29 FY30 FY31+ WALE OCCUPANC
Slide 37: Appendix G: Key vacancies and upcoming expiries
STUDLEY COURT INDUSTRIAL ESTATE VIC Appendix G: Key vacancies and upcoming expiries Current vacancies GLA (SQM) % of portfolio area 56-88 Lisbon Street, Fairfield East 23,588 1.9 22 Hawkins Crescent, Bundamba 18,956 1.5 95-105 South Gippsland Highway, Dandenong South1 13,604 1.2 55 Musgrave Road, Co
Slide 38: Appendix H: Income statement
1 ASHBURN ROAD, BUNDAMBA QLD Appendix H: Income statement FY26 FY25 ($’000) ($’000) Revenue Net property income 204,013 192,323 Share of net profit of equity accounted investments 6,969 3,468 Interest income 1,246 1,364 Total revenue 212,228 197,155 Expenses Responsible entity fees (23,899) (23,023)
Slide 39: Appendix I: FFO reconciliation
23-41 GALWAY AVENUE, MARLESTON SA Appendix I: FFO reconciliation FY26 FY25 ($’000) ($’000) Statutory net profit (attributable to CIP) 160,382 133,061 Straight lining of rental income (11,454) (8,782) Net (gain) on fair value of investment properties (72,203) (47,416) (Gain) / loss on swap revaluatio
Slide 40: Appendix J: Balance sheet
140 FULTON DRIVE, DERRIMUT VIC Appendix J: Balance sheet FY26 FY25 Cash $’000 12,974 15,038 Investment properties $’000 3,859,900 3,819,555 Equity accounted investments $’000 74,702 71,168 Trade & other receivables $’000 15,887 22,149 Derivative financial instruments $’000 2,395 510 Total assets $'0
Slide 41: Appendix K: Hedging profile
60-80 SOUTHLINK ROAD, PARKINSON QLD Appendix K: Hedging profile1 millions $350 329 5.0% 4.6% $300 4.5% 4.1% 4.0% $250 3.5% $200 3.4% 3.0% $150 2.5% 96 $100 2.0% 50 $50 1.5% $0 1.0% FY27 FY28 FY29 Avg. hedging Avg. hedge rate • Average hedging and hedge rate above excludes the $325m exchangeable note
Slide 42: Appendix L: Portfolio valuation summary
10-12 WILLIAMSON ROAD, INGLEBURN NSW FY26 FY25 Movement Appendix L: valuation valuation Valuation movement3 FY26 WACR FY25 WACR WACR ($M) ($M) ($M) (%) (%) (%) (BPS) Portfolio valuation State NSW 1,245 1,189 55 9.3% 5.65% 5.76% (0.12%) summary1,2 Vic Qld 1,397 696 1,380 680 17 16 1.2% 2.3% 5.64% 5.9
Slide 43: Appendix M: Investment portfolio
Appendix M: Investment portfolio Property Ownership Book value ($m) Cap rate GLA (SQM) WALE (YRS)1 Occupancy (%)1 Sub sector NSW 56-88 Lisbon Street, Fairfield East 100% 205.0 5.50% 60,223 2.7 50.3% Distribution Centre 2 Woolworths Way, Warnervale 100% 109.0 6.25% 54,196 5.1 100.0% Distribution Cent
Slide 44: Appendix M: Investment portfolio
Appendix M: Investment portfolio Property Ownership Book value ($m) Cap rate GLA (SQM) WALE (YRS)1 Occupancy (%)1 Sub sector Vic (continued) 14-17 Dansu Court, Hallam 100% 36.8 6.00% 17,070 3.3 100.0% Transport Logistics 346 Boundary Road, Derrimut 100% 34.0 5.25% 4,213 9.7 100.0% Distribution Centr
Slide 45: Appendix M: Investment portfolio
Appendix M: Investment portfolio Property Ownership Book value ($m) Cap rate GLA (SQM) WALE (YRS)1 Occupancy (%)1 Sub sector Qld (continued) 21 Jay Street, Townsville 100% 28.5 7.50% 10,291 5.9 100.0% Distribution Centre 5/243 Bradman Street, Acacia Ridge 100% 23.5 6.25% 9,884 3.3 100.0% Distributio
Slide 46: Definitions
Definitions All in cost of Calculated as the average effective interest cost, which includes floating rate, all-in Interest cover Interest cover is defined as earnings before interest, tax depreciation and debt margin (base and line fees) and fixed interest costs under existing swaps, ratio (ICR) am
Slide 47: Disclaimer
Disclaimer This presentation has been prepared by Centuria Property Funds No.2 Limited (ABN 38 133 363 185, AFSL 340304) (CPF2L) as responsible entity of Centuria Industrial REIT (ARSN 099 680 252) (‘CIP’ or the ‘Trust’). This presentation contains selected summary information and does not purport t
Slide 48: Contact offices
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
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