Results of Tender Offer for Non-Call 2030 Subordinated Notes

Scentre Group (ASX:SCG) today announced the closing of the any and all tender offer of its outstanding US$1,312 million Non-Call 2030 Subordinated Notes (Notes) (A$1,794 million equivalent).

US$1,169 million of Notes (A$1,598 million equivalent), representing approximately 89% have been tendered. Settlement is scheduled for 5 May 2026 (New York City time). Under the terms of the Notes, this will enable the Group to redeem all of the remaining Notes at par.

The Group intends to exercise its redemption right as soon as practicable after settlement of the tender offer.

Following the redemption of all of the Notes, the Group’s liquidity will be approximately A$3.2 billion.

The Group intends to restructure its interest rate hedging in order to increase coverage in 2027 and 2028, without reducing coverage in 2026.

The Group maintains its target for FFO to be at least 23.73 cents per security for 2026, representing at least 4.0% growth for the year.

Distributions are expected to grow by 4.0% for 2026 to 18.43 cents per security.

The Group acknowledges the current geopolitical volatility, its impact on the broader economy and in particular, the potential impact on the consumer. The Group continues to closely monitor any impact this may have on our business and outlook for 2026.

Scentre Group Chief Executive Officer Elliott Rusanow said: “This transaction forms part of the Group’s capital management strategy to execute transactions that continue to deliver long-term earnings growth to our securityholders.”

This announcement has been authorised for release by the Chief Executive Officer.