• Customer visitation up 3.1% to 160 million
• Total business partner sales up 5.0% to $7.0 billion
• Portfolio occupancy at 99.8%, up 20bps

Scentre Group (ASX: SCG) has provided an operating update for the first quarter of 2026. Customer visitation to the company's 42 Westfield destinations from the beginning of the year to April 19 was 160 million, up 3.1% or 4.9 million more than the same period in 2025. Total business partner sales across the portfolio for the 3 months to March 31, 2026 were $7.0 billion, up 5.0% with specialty sales up 5.3%. Demand for space in Westfield destinations continues to be strong, with portfolio occupancy of 99.8% at March 31, 2026, up 20bps since March 31, 2025. The company also completed 636 leasing deals, achieving average specialty releasing spreads of +3.3%. Scentre Group has continued to progress on its $240 million redevelopment of Westfield Bondi. The company has also settled the divestment of 19.9% of Westfield Sydney to Australian Retirement Trust (ART) for $864 million, completed the redemption of US$750 million (approximately $1.15 billion) of 2030 senior bonds, and issued a $750 million 6-year senior note in the Australian domestic market.

Based on the Group's operating performance in the first quarter of 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.