SCG Operating Update

• Customer visitation up 3.1% to 453 million
• Total annual business partner sales up $760 million to $29.5 billion
• Portfolio occupancy at 99.8%, up 40bps

Scentre Group (ASX: SCG) today announced a positive operating update for the 45 weeks to 9 November 2025. Customer visitation to the company's 42 Westfield destinations increased by 3.1% or 13.5 million to 453 million. Total annual business partner sales across the portfolio reached $29.5 billion for the 12 months to 30 September 2025, up $760 million compared to the same period in 2024. For the three months ended 30 September 2025, business partners achieved total sales growth of 3.7%, with specialty sales up 4.4%. Portfolio occupancy stood at 99.8% as at 30 September 2025, up 40bps on the same period in 2024. The company recorded average specialty rent escalations of 4.4% in the 9 months to 30 September 2025 and completed 2,366 leasing deals, achieving average specialty releasing spreads of +3.0%. The Westfield membership program now exceeds 4.8 million members, an increase of 600,000 compared to 30 September 2024. Scentre Group continues to invest in its destinations, including the $48 million redevelopment of Westfield Burwood and the $72 million redevelopment of Westfield Southland.

Subject to no material change in conditions, the Group's target for FFO is 22.75 cents per security for 2025, representing 4.3% growth. Distributions are expected to grow by 3.0% to 17.72 cents per security.

The Group continues to reinvest in its destinations to repurpose space and introduce new brands and experiences as part of its customer strategy. The Group remains focused on creating extraordinary places, connecting and enriching communities.