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Centuria Industrial REIT ( CIP ) ASX Announcement Centuria Q1 FY27 Operating Update c.25,000sqm of lease terms agreed¹ ; FY27 year to date re - leasing spreads of 31 % 2 Divestment of 22 Hawkins Crescent , Bundamba QLD for $ 34.25 million , in line with book value Opportunity to commercialise CIP's extensive roof space through Centuria Capital Group's renewable energy partnership with Energy Bay Continuing to pursue identified pathway to 250MW + power capacity across existing portfolio Reaffirmed FY27 FFO guidance range of 18.8-19.2cpu³ , 4 ( up to 5.5 % above FY26 ) , distribution guidance of 17.3cpu³ ( 3 % above FY26 ) SYDNEY ( Thursday , 15 October 2026 ) - Centuria Industrial REIT ( ASX : CIP ) is pleased to provide its Q1 FY27 operating update . Grant Nichols , CIP Fund Manager and Centuria Head of Listed Funds , said , “ During the quarter , CIP continued its active portfolio management , delivering leasing outcomes across c.25,000sqm of GLA , building on the near - record leasing volumes achieved in FY26 . These strong leasing results contribute to strong NOI growth and tangible FFO growth across CIP's portfolio . " " The sale of a large box , vacant Bundamba property for $ 34.25 million to an owner - occupier further aligned the portfolio with CIP's strategy of increasing exposure to smaller - box assets in established , supply - constrained industrial locations . The transaction eradicates a key FY27 leasing issue and demonstrates the benefit that a deep pool of owner - occupiers provides to the Australian industrial market in addressing both vacancy and asset allocation . " CIP continues to advance its dual - track data centre strategy , comprising both existing operational data centres and the potential conversion of suitable industrial assets over time . With an identified power pipeline exceeding 250MW , including opportunities at Clayton and Thomastown in Victoria , CIP is focused on unlocking the value potential of these assets through a disciplined assessment of the pathway toward the highest and best use for each site . While data centre opportunities are expected to materialise primarily from FY28 and beyond , they provide the potential for long - term value creation for unitholders . TRANSACTIONS CIP has exchanged sale contracts to divest 22 Hawkins Crescent , Bundamba QLD for $ 34.25 million . The divestment is in line with the property's most recent book value and further demonstrates CIP's ability to transact at or above prevailing book values . Settlement of the c.19,000sqm property is expected in December 2026 . The sale , to an owner - occupier , mitigates the potential for extended vacancy risk , and supports CIP's asset allocation by reducing exposure to a large - box , urban - fringe asset that is less aligned with CIP's areas of strategic focus . Since FY25 , 40 % of CIP's divestments have been to owner - occupiers , highlighting the ongoing demand from businesses seeking to own facilities critical to their industrial operations . The high proportion of owner - occupiers is unique to the industrial market , and provides stability to industrial asset valuations , particularly in an environment where there is a material disconnect between replacement cost and prevailing valuations . PROPERTY PORTFOLIO AND LEASING During Q1 FY27 , 24,929 sqm of lease terms¹ were agreed across seven deals , building on the near record leasing volumes CIP achieved in FY26 . FY27 re - leasing spreads average 31 % ² year to date , reflecting the significant under- renting that exists within CIP's portfolio . CIP estimates the portfolio is approximately 17 % under - rented on average , providing a significant runway for future earnings growth beyond FY27 . Approximately 55 % of leases expiring over the next three years are currently under- rented , creating a clear pathway to future earnings growth without requiring additional balance sheet deployment . Centuria Property Funds No.2 Limited ABN 38 133 363 185 | AFSL 340 304 Level 41 , Chifley Tower 2 Chifley Square , Sydney NSW 2000 T : 02 8923 8923 F : 02 9460 2960 E : sydney@centuria.com.au www.centuria.com.au