• c.102,000sqm of lease terms agreed YTD; +41% positive re-leasing spreads YTD
• c.$60m developments progressed in Direk, SA and Derrimut, VIC to commence
• Continued execution of land consolidation strategy with Canning Vale, WA acquisition

Centuria Industrial REIT (CIP) is pleased to provide its Q3 FY25 operating update. During the quarter, CIP agreed over 23,000 sqm of lease terms, increasing its total leasing activity to c.102,000 sqm (c.8% portfolio GLA) in FY25 year to date. Positive re-leasing spreads averaged +41% YTD, reflecting the robust rental growth across Australia's urban infill industrial markets. CIP continued to progress its development pipeline, with projects in Direk, SA (c.$60m) and Derrimut, VIC anticipated to commence in Q4 FY25. The company also acquired a 30% interest in an industrial facility in Canning Vale, WA, demonstrating its land consolidation strategy. CIP's portfolio, with a heavy weighting to infill markets, is well-positioned to capitalize on various macroeconomic tailwinds and supply-demand imbalances, particularly in Sydney where the company has a 30% portfolio weighting.

CIP reaffirms its FY25 FFO guidance of 17.5 cents per unit and distribution guidance of 16.3 cents per unit, which is expected to be paid in quarterly instalments.

CIP's portfolio, with a heavy weighting to infill markets, is well-positioned to capitalize on various macroeconomic tailwinds and supply-demand imbalances, particularly in Sydney where the company has a 30% portfolio weighting.