ASX Announcement 27 June 2016 SCENTRE GROUP (ASX: SCG / ADR: SCTRY) SCENTRE GROUP REDEEMS $0.6 BILLION OF $1.2 BILLION PROPERTY LINKED NOTES Scentre Group (ASX: SCG) has agreed with PGGM Private Real Estate Fund to redeem approximately $600 million of the $1.2 billion Property Linked Notes (Notes) that it holds and to extend the review dates of the remaining Notes totalling approximately $555 million. The Notes, originally issued in 2006, provide income and capital returns to the holder based on the economic performance of the underlying shopping centres and have a first review date of 31 December 2016. Approximately $160 million of the Notes, linked to Westfield Tea Tree Plaza, will be redeemed on 30 June 2016, effectively increasing Scentre Group’s economic interest in that centre by 25%. A further $440 million of Notes, linked to Westfield Belconnen, Westfield Burwood and Westfield Hornsby, will be redeemed on 31 December 2016 and will effectively increase Scentre Group’s economic interest in these centres by 25%, 25% and 5% respectively. The remaining Notes of approximately $555 million, linked to economic interests in Westfield Parramatta (12.5%), Westfield Southland (12.5%) and Westfield Hornsby (20%), will remain outstanding and have future review dates of 31 December 2021, 2022 and 2023 respectively. The redemption of the Notes will be funded from existing financing facilities. The impact of the redemptions, in isolation, will be to increase gearing by 1.9%. “We are pleased to be able to accommodate PGGM’s requirements and continue our valued relationship with PGGM as a provider of capital to Scentre Group while increasing our economic interest in these four centres,” said Chief Executive Officer, Peter Allen. The transaction will have no material impact on 2016 earnings guidance. Scentre Group reconfirms its forecast FFO growth for the 12 months ending 31 December 2016 of approximately 3% and forecast distribution for 2016 of 21.3 cents per security. Contacts: Company Secretary Corporate Affairs / Media Maureen McGrath Julia Clarke For personal use only +61 2 9358 7439 +61 2 9358 7426 SCENTRE GROUP LIMITED ABN 66 001 671 496 SCENTRE MANAGEMENT LIMITED ABN 41 001 670 579 AFS Licence No: 230329 as responsible entity of Scentre Group Trust 1 ABN 55 191 750 378 ARSN 090 849 746 RE1 LIMITED ABN 80 145 743 862 AFS Licence No: 380202 as responsible entity of Scentre Group Trust 2 ABN 66 744 282 872 ARSN 146 934 536 RE2 LIMITED ABN 41 145 744 065 AFS Licence No: 380203 as responsible entity of Scentre Group Trust 3 ABN 11 517 229 138 ARSN 146 934 652 Level 30, 85 Castlereagh Street, Sydney NSW 2000 Australia · GPO Box 4004 Sydney NSW 2001 Australia · T +61 (02) 9358 7000 · scentregroup.com Page 1 of 1 .