Fair Value Estimate for Vicinity Centres Retained at AUD 2.15 on Transfer of Coverage

Vicinity Centres’ portfolio includes a wide variety of Australian retail property assets. Its largest asset is 50% ownership of Chadstone in Melbourne, which represents about AUD 3 billion of the AUD 14 billion portfolio at the end of December 2023. Central business district assets make up about 15% of the portfolio, including Sydney’s Queen Victoria Building, Strand Arcade, The Galleries, Brisbane’s QueensPlaza and Uptown, and Melbourne’s Myer Bourke Street and Emporium. Vicinity also owns factory outlet centers and suburban and country shopping centers, such as Carlingford and Warriewood in Sydney, Buranda and Gympie in Queensland, Mornington and Broadmeadows in Melbourne, and WA centers in Karratha, Mandurah, and Rockingham.