Centuria Capital Group · ASX:CNI
Centuria Capital — FY2026 Earnings Presentation
51 slides from Centuria Capital's earnings presentation, Aug 27, 2026
Slide 1: Centuria Capital Group FY26 results
27 AUGUST 2026 | ASX:CNI Centuria Capital Group FY26 results LISTED: DATA CENTRE, PIPE STREET, WELLCAMP QLD
Slide 2: Agenda and Presenters
LISTED: 30 FULTON DRIVE, DERRIMUT VIC Agenda Presenters • Group John McBain, Joint CEO Jason Huljich, Joint CEO • Real estate divisions Simon Holt, CFO • AI infrastructure - ResetData • Financial result • Strategy and outlook • Appendices Acknowledgement of Country Our Group manages property through
Slide 3: Group
UNLISTED: PORT ADELAIDE INDUSTRIAL FUND, SA Group SECTION ONE
Slide 4: Centuria is a differentiated funds manager positioned for growth
Centuria is a differentiated funds manager positioned for growth Matching capital with real estate, credit and emerging AI infrastructure opportunities Platform Third party capital Capability Diverse earnings 150+ Recurring management fees $22bn+ 15,500+ Unlisted investors 25+ years Stable and scala
Slide 5: Strong FY26 result – Capitalised for growth phase
Strong FY26 result – Capitalised for growth phase FY26 result Platform & execution Capital management FY27 guidance $113.8m $22.2bn $1.76 $130m (+14%) Operating net profit after tax (ONPAT) New Group AUM record1 Net asset value3,4 ONPAT above FY26 actual FY25: $20.6bn FY25: $1.79 13.6cps $1.2bn 5.1%
Slide 6: Investors are assessing allocations as market conditions evolve
Investors are assessing allocations as market conditions evolve • Real estate equity return spreads • Budget settings improve appeal for • Private real estate remains an • Expiring bank hybrids won’t be remain viable for new products income-related investment products. attractive global investment o
Slide 7: AI infrastructure demand is scaling faster than delivery of physical capacity
AI infrastructure demand is scaling faster than delivery of physical capacity Investable opportunity: Powered, financeable capacity that can be delivered inside customer timeframes. Neocloud demand forecast ($bn)2 82.5 Structural demand ~25x • AI adoption is broad, but enterprise scaling remains ear
Slide 8: Capitalised for growth execution
Capitalised for growth execution FY27 EBIT is expected to grow c.20%, operating net profit after tax is expected to grow 14% Capitalised to execute Real estate platform ResetData $300m • Targeting growth in core property funds and property investment $165m June-26 capital raise Macquarie bridge faci
Slide 9: Real estate divisions
• RESETDATA: AI FACTORY 1 UNLISTED: WORLD SQUARE - 680 GEORGE & 50 GOULBURN STREET, SYDNEY NSW Real estate divisions SECTION TWO
Slide 10: Property funds management and property investment
Property funds management and property investment Property funds management Property investment $18.6bn 100+ 6.4% $1.5bn PFM AUM1 Real estate funds1,3 CNI proportionate balance sheet Platform WACR1,3 (FY25: $17.4bn) (No unlisted fund >3% of AUM) investment properties (FY25: 6.4%) $1.9bn 390+ 95% 8.4
Slide 11: Securing larger unlisted acquisitions and creating value across listed portfolios
Securing larger unlisted acquisitions and creating value across Centuria’s listed portfolios Centuria real estate activity ($m) INDUSTRIAL AGRICULTURE OFFICE Arrow 444 AUM CPAIF ($216m): Australia’s CAF ($168m): Australia’s largest CSPOF ($454m): Strong FY27 largest single-asset unlisted hydroponic
Slide 12: 680 George Street: Centuria's largest single asset acquisition
680 George Street: Centuria’s largest single asset acquisition Acquisition: Value creation: Delivering leasing, valuation and fund-level upside Underwriting vs settlement Market Counter-cyclical Sydney CBD acquisition following Sydney repricing Value entry and as leasing markets show signs of improv
Slide 13: Property and development finance: Centuria Bass Credit
Property and development finance: Centuria Bass Credit Diversified loan book1: Construction (38%), bridge (37%), residual stock (23%), subdivision & civil (2%) Platform Execution Composition Market $2.6bn 217 94% $224bn Real estate finance AUM Loans originated First mortgage exposure3,4 Private cred
Slide 14: Centuria Bass Credit: Active management generating solid returns
Centuria Bass Credit: Active management generating solid returns Generating through cycle returns - Diversification, predominantly first-ranking security, disciplined governance and active management. Average monthly IRR return profile (% p.a.)2 53 73 CBCF BPCF CBCF investments BPCF investments 9.68
Slide 15: Centuria Bass Credit funds: income-focused real estate credit portfolios
Centuria Bass Credit funds: Income-focused real estate credit portfolios generating returns from diversified loan books. CBCF investment composition1 BPCF investment composition1 Deal 1, 13% Deal 1, 11% Deal 2, 7% Deal 2, 6% Deal 3, 7% Deal 3, 5% Deal 4, 5% Deal 4, 5% Deal 5, 5% Deal 5, 4% Deal 6, 4
Slide 16: Centuria Bass Credit Bathla Group exposure
Centuria Bass Credit Bathla Group exposure: six secured Security position and facilities with cross-collateralised security structure recovery pathways • Two of the Bathla loan facilities relate to $278m secured across six residential projects in NSW and Victoria construction, both projects are clos
Slide 17: AI infrastructure – ResetData
RESETDATA AI infrastructure – ResetData SECTION THREE
Slide 18: Developing ResetData's platform and capability
Developing ResetData’s platform and capability 2021 2021–2023 2024-25 FY26 FY27 and beyond Opportunity identified Building the platform Partnership formed AIF1 delivered in AIF1, AIF3, AIF6 AI demand accelerates Developing high-density AI ResetData and Centuria formed Centuria property and more . wo
Slide 19: Executing post capital raise
Executing post capital raise GPUs ordered, capacity secured, funding commitments and customer pathways. AIF1 AIF3 Centuria facility | H200 | c.1MW Centuria facility | B300 | c.2.5MW • 265 H200 GPUs installed, 512 ordered • 64 B300 GPUs initial order • DFS funding committed1 • DFS funding committed1
Slide 20: Power pathways create the next phase of scale-up
Power pathways create the next phase of scale-up • Centuria data centre: AIF1 Stage 2 c.1.1MW. Near-term base • Centuria data centre: AIF3 c.2.5MW. 2H FY27 target pathway • CDC data centre: AIF6 c.7MW. c.10MW Capacity matched to initial customer demand and deployment funding. • CDC LOI 3MW 1 and thi
Slide 21: Data centre footprint: existing operating data centres and near-term development
Data centre footprint: existing operating data centres and near-term development opportunities Operating data centre Operating data centre with development opportunity Development opportunity Toowoomba Qld Pathway to increased 250MW+ potential DC capacity Hazlemere WA Thomastown Vic ARTIST’S IMPRESS
Slide 22: Financial result
UNLISTED: CHADSTONE HOMEMAKER CENTRE VIC Financial result SECTION FOUR
Slide 23: Segment results
Segment results FY26 ($m) FY25 ($m) 1 Strong result on record AUM. Statutory NPAT1,2 56.5 82.7 Statutory EPS1,2 6.7 10.0 Reflecting a skew towards residual stock 2 and land bridge lending. Operating segment results 1 Property funds management3 74.8 59.6 ResetData scale-up phase, with the Property in
Slide 24: Property funds management earnings
Property funds management earnings 40% Management fee FY26($m) 145.1 FY25($m) 143.2 FY26 PFM EBITDA Margin1 (FY25: 35%) Transaction fees 9.9 10.9 Performance fees 20.0 7.0 $20m Other income 11.7 10.2 FY26 Performance fees booked (FY25: $7m) Property funds management fee 186.7 171.3 Expenses (111.9)
Slide 25: Strong balance sheet and cash recycling support growth initiatives
Strong balance sheet and cash recycling support growth initiatives FY26 FY25 CNI debt maturity profile Net asset value per security (NAV)1,2 $ 1.76 1.79 • Diversified lender pool. • No debt expiring until June 2028. Cash realised from the sale and $m 197 194 • CNI average margins c.273bps. recycling
Slide 26: Active debt capital management across Centuria's real estate funds
LISTED: 825 ANN STREET, FORTITUDE VALLEY QLD Active debt capital management across Centuria’s real estate funds FY26 FY25 Lenders # 25 25 Average margins improved Total lending facilities across to c1.44% in FY26. $bn 8.6 7.6 platform Weighted average debt duration1 yrs 2.3 2.2 Weighted average hedg
Slide 27: Strategy and outlook
RESETDATA Strategy and outlook SECTION FIVE
Slide 28: Centuria is positioning the business for growth momentum into FY28/29
LISTED: DATA CENTRE, PIPE STREET, WELLCAMP QLD Centuria is positioning the business for growth momentum into FY28/29 • FY27 EBIT is expected to grow c.20%, operating net profit after tax is expected to grow 14%. • Growth in core real estate earnings. Outlook • ResetData remains in investment and de
Slide 29: Appendices
UNLISTED: TWO WELLS GLASSHOUSE SA Appendices SECTION SIX
Slide 30: A leading Australasian platform positioned for growth
A leading Australasian platform positioned for growth $22.2bn Group AUM1 Property funds management Property Investment Sovereign and property investment development bonds AI and finance $4.0bn $1.9bn $0.1bn $6.7bn $3.0bn $2.9bn $2.6bn $1.0bn c.10MW2 CENTURIA CENTURIA ASSET PLUS SINGLE ASSET MULTI-AS
Slide 31: Group AUM
Group AUM $22.2bn $21.0bn $21.1bn $20.6bn $20.6bn $17.4bn 12.6 Unlisted real 12.3 11.4 estate 12.2 12.5 10.7 $8.8bn 4.0 Listed real 6.0 6.0 estate 6.0 6.4 6.8 5.5 4.0 Real estate 2.3 2.6 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 FY26 Centuria
Slide 32: CNI ESG highlights
CNI ESG highlights Responsible business Climate change Valued stakeholders practices (Environment) (Social) (Governance) • Centuria is targeting zero scope 2 emissions • c.$280k contributed to certified social • 2026 GRESB5 participation for CIP and by 2035, with CIP and COF targeting 20281. enterpr
Slide 33: ~30 years of real estate funds management experience
~30 years of real estate funds management experience overseeing 1. 2. 3. Centuria’s operations Capital Funds Treasury transactions management 7. 6. 5. 4. Facilities Property Leasing Asset management management management Fully integrated end-to-end investment management services 10. A leading Austra
Slide 34: Centuria real estate: Capital deployment framework
Centuria real estate: Capital deployment framework Utilising Centuria’s balance sheet to accelerate platform growth and seed new funds for a growing private and institutional investor network. 6 Exit and recycle Scale 1 Identify transaction and Exit Investor: Capital realised or recycled • Return ca
Slide 35: Property funds management and property investment
Property funds management and property investment CNI FY26 FY26 Assets & Acquisitions Divestments CNI CNI FY25 FY26 Funds & proportionate Listed Unlisted loan WACR WALE Occupancy WARR and loan and loan proportionate proportionate SECTOR1 AUM AUM loan SPVs asset AUM AUM tranches (%)3 (yrs)4 (%)4 (%)3
Slide 36: AUM by fund type and capital source
AUM by fund type and capital source Real estate Large format Daily needs Industrial Office Agriculture Healthcare finance retail retail Fund type AUM ($bn)1 $6.6 $6.3 $2.6 $2.1 $1.3 $1.2 $1.1 Unlisted single asset fund $8.6 0.7 3.6 1.9 1.4 - - 1.0 Listed REITs $6.0 4.0 2.0 - - - - - Unlisted multi a
Slide 37: AUM and valuations
AUM and valuations AUM ($ billions) Valuation movements to 30 June 20262,3 0.4 0.2 0.1 Value Value Cap rate Cap rate 1.2 0.4 22.2 12 months 6 months 12 months 6 months WACR4 20.6 -0.7 Industrial 1.81% 1.21% (6) bps (2) bps 5.90% Office (0.42)% (0.80)% 15 bps 12 bps 6.99% Large format 1.94% 1.40% (4)
Slide 38: $21.2bn diversified Australasian real estate platform
$21.2bn diversified Australasian real estate platform1,2 Top tenants by income (%)3,4 NT 0% Government Federal / State / 11.4% 2 properties valued at $15m Multi-Department WA 22% QLD 14% Woolworths Limited 80 properties and real estate finance loans 65 properties and real estate finance loans valued
Slide 39: ASX CIP and ASX COF REIT metrics
ASX CIP: Australia’s largest domestic pure play industrial REIT ASX COF: Australia’s largest pure play office REIT FY261 FY251 FY26 FY25 Number of assets # 83 87 Number of assets # 18 19 Book value $m 3,934 3,890 Book value1 $m 1,842 1,904 WACR % 5.80 5.86 WACR % 7.04 6.89 GLA sqm 1,233,918 1,293,79
Slide 40: Property development: $1.4bn pipeline to seed funds
LISTED: 50-64 MIRAGE ROAD, DIREK SA Property development: $1.4bn pipeline to seed funds Committed Future Pipeline FY26 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 $m GLA Industrial 50 20,910 120 56,695 700 142,64
Slide 41: Property and development finance: Deep expertise in real estate lending
Property and development finance: Deep expertise in real estate lending Assets under management ($bn) Loan originations and Loan exits and restructures ($m) restructures ($m) 2.6 1,608 1,303 2.3 1,122 1.9 1,223 1.3 867 631 564 659 0.8 303 198 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY
Slide 42: Centuria Bass Credit $2.6bn AUM composition
Property and development finance: Centuria Bass Credit $2.6bn AUM composition Security Geography Sector NSW, 77% VIC, 12% QLD, 6% Residential, 93% 1st Lien, 94% ACT, 3% Commercial, 4% 2nd Lien, 6% WA, 1% Mixed Use, 3% NZ, 1% Facility type Capital sources Investment vehicle SPVs, 59% Construction, 38
Slide 43: Investment bonds: Centuria Life
Investment bonds: Centuria Life $1.0bn Flows FY26 AUM FY26 FY25 Change Applications Redemptions Assets under management ($m) ($m) (%) ($m) ($m) Prepaid funeral plans (Guardian)1 586.3 565.3 3.72 43.8 47.6 Unitised bonds (Centuria Life) 199.3 215.4 -7.47 7.6 18.4 Strong legislative tailwinds with Cen
Slide 44: Centuria has established vertically integrated data centre capability
Centuria has established vertically integrated data centre capability Strategic optionality DC owner DC developer DC operator AI Factory operator • Centuria owns and manages existing data centres and various properties with future data centre optionality. • Centuria and ResetData are progressing dat
Slide 45: CIP data centre property portfolio
CIP data centre property portfolio CLAYTON VIC THOMASTOWN VIC TOOWOOMBA QLD ARTIST’S IMPRESSION • Telstra triple net lease over an existing data centre until • Landholding of 10.6 hectares • Operational data centre with a triple net lease to Centuria 2050 DC until 2041 • Less than 100m from the exis
Slide 46: Australia's data centre market: An opportunity for Centuria
Australia’s data centre market: An opportunity for Centuria Underpinned by tight supply, enduring structural market advantages, and resilient AI-fuelled growth 1 2 3 Supply reality Australia’s edge Demand wave Prospective demand is being adversely Competitive cost base, sovereign positioning AI is a
Slide 47: Reconciliation of statutory profit to operating profit
LISTED: 2 WOOLWORTHS WAY, WARNERVALE NSW Reconciliation of statutory profit to operating profit FY26 ($m) FY25 ($m) Statutory profit after tax1,2 56.5 82.7 Statutory EPS (cents)1,2 6.7 10.0 ADJUSTED FOR NON-OPERATING ITEMS Loss/(gain) on fair value movements in derivatives and investments 53.1 12.5
Slide 48: CNI operating balance sheet
RESETDATA CNI operating balance sheet Assets FY26 ($m) FY25 ($m) Cash and cash equivalents 401.0 185.6 Receivables 158.5 131.4 Financial assets 35.9 62.8 Other assets 17.6 4.4 Property, plant and equipment 40.4 38.7 Inventory 27.6 36.9 Investment properties 1,537.4 1,402.7 Deferred tax assets 15.2 9
Slide 49: Definitions
Definitions Operating Segments: The Group has five reportable operating Syndicated Facility Agreements. Eliminations include Elimination of CPFL: Centuria Property Funds Limited ACN 086 553 639 segments. These reportable operating segments are the divisions which transactions between the operating s
Slide 50: 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 51: Office locations
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
Centuria Capital Group — FY2026 Earnings Presentation on 6ix