• Tender offer for US$1,312 million Non-Call 2030 Subordinated Notes closed
• US$1,169 million (89%) of Notes tendered and to be redeemed
• Liquidity to reach A$3.2 billion after redemption

Scentre Group (ASX:SCG) has announced the closing of the any and all tender offer for its outstanding US$1,312 million (A$1,794 million equivalent) Non-Call 2030 Subordinated Notes. US$1,169 million (A$1,598 million equivalent) of the Notes, representing approximately 89%, have been tendered. Settlement is scheduled for 5 May 2026, and the Group intends to exercise its redemption right to redeem all of the remaining Notes at par as soon as practicable after the tender offer settlement. Following the redemption of all the Notes, the Group's liquidity will be approximately A$3.2 billion. The Group also plans to restructure its interest rate hedging to increase coverage in 2027 and 2028, without reducing coverage in 2026. Scentre Group maintains its target for Funds from Operations (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 and its potential impact on the broader economy and consumer, and continues to closely monitor any impact on its business and outlook for 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 and its potential impact on the broader economy and consumer, and continues to closely monitor any impact on its business and outlook for 2026.