Centuria Capital Group (CNI) Partnership summary

Opening remarks and agenda

• Announced a strategic partnership and Centuria's acquisition of a 50% stake in ResetData for up to AUD 21 million, marking an entry into the data center sector.

• Introduced key executives from both organizations, including joint CEOs, and outlined the focus on real estate-based data center opportunities.

• Webcast scheduled for 10:30 am AEST, 5 August 2024, to discuss the transaction.

Objectives of the partnership

• Aims to deploy next-generation, sustainable liquid immersion cooled (LIC) Edge Data Centres using underutilized real estate and power.

• Targets high-density, energy-efficient solutions to meet surging AI and cloud demand, leveraging early mover advantage in LIC technology.

• Expected to be earnings neutral in FY25 and accretive from FY26.

• Centuria holds a call option to acquire the remaining 50% after five years.

Partner introductions and roles

• Centuria provides real estate and funding, leveraging its property platform for data centre deployment.

• ResetData, led by joint CEOs, retains 50% ownership and is incentivized through earn-outs based on profitability over the next three years.