• Statutory net profit after tax of $1,004.6m
• FFO up 1.4% to $673.8m, 3.6% adjusted for one-off items
• FFO per security at top end of guidance range of 14.5 to 14.8 cents

Vicinity Centres has released its results for the 12 months ended 30 June 2025 (FY25), highlighting strong financial and strategic performance. The company reported a statutory net profit after tax of $1,004.6m, up from $547.1m in FY24. Funds From Operations (FFO) increased by 1.4% to $673.8m, and when adjusted for one-off items and higher loss of rent from developments, FFO was up 3.6%. Vicinity delivered FFO per security at the top end of its guidance range of 14.5 to 14.8 cents per security. The company continued to execute its investment strategy, acquiring the premium asset Lakeside Joondalup in Western Australia and divesting three non-strategic assets at a premium to book value. Vicinity also made progress on key developments, including the opening of Chadstone's revitalised fresh food and dining precinct, The Market Pavilion, and the ongoing transformational redevelopment of Chatswood Chase. The company's portfolio metrics remained strong, with occupancy at 99.5%, leasing spreads at +2.5%, and average annual escalators on new leases of +4.8%. Vicinity's specialty occupancy cost ratio of 14.1% highlights the potential for continued positive leasing tension and future rent growth. Looking ahead, the company expects FY26 FFO and Adjusted FFO per security to be within the ranges of 15.0 to 15.2 cents and 12.8 to 13.0 cents, respectively, with a full-year distribution payout ratio of 95-100% of Adjusted FFO.

• FY26 FFO and Adjusted FFO per security expected to be within the ranges of 15.0 to 15.2 cents and 12.8 to 13.0 cents, respectively
• Full year distribution payout to be within the target range of 95-100% of Adjusted FFO
• Adjusting for one-off items and lower development-related loss of rent, FY26 FFO growth expected to be 2.0% - 3.5%
• Comparable NPI growth expected to be c.3% in FY26, or c.3.5% excluding the impact of new taxes and levies
• Development-related loss of rent c.$25m in FY26 (FY27: c.$15m)

Vicinity remains steadfastly focused on driving strong and superior asset performance while completing and delivering Chatswood Chase, advancing the redevelopment of Galleria, and cycling the short-term earnings impact from strategic divestments. The company's balance sheet remains a key enabler of its ability to invest in growth priorities, both organic and inorganic, that will ultimately deliver sustained value accretion for all stakeholders.