Slide 1: Scentre Group Delivers Funds From Operations of $587 Million
ASX Announcement 26 August 2025 SCENTRE GROUP DELIVERS FUNDS FROM OPERATIONS OF $587 MILLION, UP 3.2% FOR THE FIRST SIX MONTHS OF 2025 AND UPGRADES FULL YEAR DISTRIBUTION GUIDANCE Scentre Group (ASX: SCG) today released its results for the six months to 30 June 2025 with Funds From Operations (FFO)
Slide 2: Westfield destinations
Westfield destinations The Group continues to progress its $4 billion pipeline of future retail development opportunities to further enhance the productivity of its portfolio. These future developments have a target yield of 6% to 7%. During the half, the Group marked completion of the first stage o
Slide 3: Bondi Junction Inquest and Outlook
Bondi Junction Inquest On 13 April 2025, the Group observed the one-year anniversary of the Bondi Junction attack alongside the NSW Government, Waverley Council and the broader community. The NSW State Coroner’s Bondi Junction Inquest commenced on 28 April 2025, and five weeks of hearings concluded
Slide 4: Half Year Results 2025
2025 Half Year Results Connecting and enriching communities Westfield Chermside, QLD
Slide 5: Half Year Overview
Half Year Overview1 42 w Efficient platform for Strong demand from Financial destinations close to 20 businesses to connect with more businesses million people, activated to consumers attract more people 99.7% +3.7% Occupancy3 on HY24 340m $13.8bn +40bps on pcp $1,043m Net Operating Income (Total Po
Slide 6: Half Year Overview
Half Year Overview Our strategy is to create the places and experiences that more people choose to come to, more often and for longer Customer Experience Projects Financial Highlights – Welcomed 340 million customers YTD, 10 – Completed the first stage of the – Net Operating Income (NOI) of $1,043 m
Slide 7: Visitation
Visitation CUSTOMER VISITATION YTD1 +10m STRATEGIC PARTNERSHIPS +3.0% 340m Guy Sebastian at Westfield West Lakes, SA 330m Channel 9 Australian Open Tennis Live Site at Westfield Mt Gravatt, QLD 2024 2025 Star Wars at Westfield Sydney, NSW 1. For the 34 weeks to 24 August 2025, compared to pcp Half Y
Slide 8: Business Partner Sales
Business Partner Sales TOTAL PORTFOLIO SALES (MAT $bn) +$719m +2.5% For the 12 months to 30 June 2025 total sales were up $0.7 billion or 2.5% on 2024 $29.3bn +$5bn $28.6bn For the 6 months to 30 June 2025 $27.8bn total sales were up $0.4 billion or 2.9% on 2024 For the 12 months to 30 June 2025 $24
Slide 9: Leasing Activity
Leasing Activity PORTFOLIO OCCUPANCY1 99.7% AVERAGE SPECIALTY RENT ESCALATIONS3 +4.5% LEASING DEALS3 1,577 +40bps2 CPI + 2% average specialty rent escalations 99.7% 1,579 1,567 1,577 1,515 1,459 1,189 585 +3.0% 585 591 AVERAGE SPECIALTY 619 550 99.3% 99.3% LEASING SPREAD3 +1.1% in 1H 2024 576 596 99
Slide 10: Gross Rent Cash Collections
Gross Rent Cash Collections GROSS RENT CASH COLLECTIONS +$43m NET TRADE DEBTORS $23m 6 MONTHS TO 30 JUN 2025 AS AT 30 JUN 2025 $181m $1,415m $1,372m $1,332m $151m $1,250m $1,200m $121m $49m $875m $20m $23m Jun-20 Jun-21 Jun-22 Jun-23 Jun-24 Jun-25 Jun-20 Jun-21 Jun-22 Jun-23 Jun-24 Jun-25 Half Year
Slide 11: Westfield destinations
Westfield destinations 42 Westfield destinations 74m Customer visits 672,000m2 of retail GLA 127ha of land QLD 6 locations Our destinations are in close proximity to 247m 20 million people and situated on more Customer visits 1.4 million m2 of retail GLA than 670 hectares of land holdings in 37m NSW
Slide 12: Future Developments
Future Developments >$4.0 bn Future Retail Developments Residential Masterplanning Target yield of 6-7% with an incremental IRR of 12-15% 670 hectares of strategic land holdings Engaging with governments and potential capital partners to realise further opportunities across our portfolio RECENT PROG
Slide 13: We are a responsible and sustainable business
We are a responsible and sustainable business COMMUNITY PEOPLE ENVIRONMENT ECONOMIC PERFORMANCE EXTENDED KEY PARTNERSHIPS GOLD EMPLOYER AWEI AWARDS ON TRACK FOR NET ZERO $587 MILLION FFO INCREASED CUSTOMER ADVOCACY FIRST NATION PARTNERSHIPS (SCOPE 1 & 2) BY 2030 GLOBAL ESG LEADER Extended Disney and
Slide 14: Operating Profit and FFO
Operating Profit and FFO 6 months to 6 months to $m 30 Jun 2025 30 Jun 2024 Growth $ Growth % Property revenue 1,351.2 1,299.9 Property expenses (308.7) (294.3) Net Operating Income 1,042.5 1,005.6 36.9 3.7% Management income 27.7 26.7 NET OPERATING INCOME +3.7% Income 1,070.2 1,032.3 37.9 3.7% Over
Slide 15: Financial Position
Financial Position $m 30 Jun 2025 31 Dec 2024 NET ASSET VALUE PER SECURITY Total Assets1 35,567.9 35,223.2 $0.68 Senior borrowings2 (11,791.7) (11,229.3) Other liabilities (1,838.7) (2,105.6) Minority interest (185.5) (183.1) Subordinated notes3 (3,344.4) (3,698.9) Net Tangible Assets4 18,407.6 18,0
Slide 16: Funding
Funding FUNDING INTEREST COVER LIQUIDITY1 3.5x $3.3bn Senior borrowings1 $11.1bn Gearing1 31.7% Weighted average facility maturity 3.4 years Subordinated notes $3.3bn Interest rate exposure hedged percentage1 100% FFO TO DEBT1 INTEREST RATE HEDGED1 12.8% 100% Weighted average interest rate2 5.7% Liq
Slide 17: Funding
Funding Available liquidity of $3.3 billion at 30 June 20251 FACILITY MATURITY PROFILE1,2 % A$bn Margin $billion Senior Bonds 4.0 AUD 9% 1.6 USD 20% 3.6 3.5 EUR 9% 1.6 3.0 GBP 4% 0.7 HKD 3% 0.5 2.5 Total 45% 8.0 Bank Facilities1 2.0 Drawn 20% 3.6 1.5 Undrawn 17% 2.9 Total 37% 6.5 1.0 Total Senior Fa
Slide 18: Interest Rate Hedging
Interest Rate Hedging HEDGE MATURITY PROFILE AND RATES1,2 $bn 100% at 2.99% 16.0 2.99% 2.96% 14.0 HEDGED AT JUNE 2025 12.0 10.0 3.00% 8.0 6.0 100% Hedged 99% Hedged 3.50% 99% at 2.96% 63% HEDGED AT DECEMBER 2025 4.0 Hedged 35% 3.79% 2.0 Hedged 3.62% 15% 4% Hedged Hedged 0.0 Jun-25 Dec-25 Dec-26 Dec-
Slide 19: Outlook
Outlook Subject to no material change in conditions: − The Group reconfirms its target for Funds From Operations is 22.75 cents per security for 2025, representing 4.3% growth for the year. − Distribution guidance has been upgraded for the full year to grow by 3.0% for 2025 to 17.72 cents per securi
Slide 20: Appendices
Appendices Appendices Star Wars Activation at Westfield Sydney, NSW Half Year Results 2025 17
Slide 21: Developments
Developments Active Westfield Bondi, NSW Westfield Burwood, NSW Westfield Southland, VIC Project Cost $28m (SCG Share: $28m) Project Cost $48m (SCG Share: $24m) Project Cost $72m (SCG Share: $36m) Commencement 2024 Commencement 2024 Commencement 2024 Completion July 2025 Completion Q4 2025 Completio
Slide 22: Profit and FFO
Profit and FFO Statutory Profit FFO Financial Reconciliation from Profit to FFO 6 months to FFO 6 months to Statement $m 30 Jun 2025 Adjustments1 30 Jun 2025 Notes 1. The Group’s measure of FFO is based upon the National Association of A B C=A+B Real Estate Investment Trusts’ (NAREIT, a US industry
Slide 23: Operating Cashflow
Operating Cashflow Cash flows from operating activities - proportionate Equity 6 Months to 6 Months to $m Consolidated Accounted 30 Jun 2025 30 Jun 2024 Receipts in the course of operations (including GST) 1,452.7 147.8 1,600.5 1,575.9 Payments in the course of operations (including GST) (499.1) (48
Slide 24: Balance Sheet
Balance Sheet Balance Sheet - Proportionate1 Equity Debt $m Consolidated Accounted 30 Jun 2025 Reclassification 30 Jun 2025 1. Period end AUD/NZD exchange rate 1.0763 at 30 June 2025 A B C=A+B 2. Includes trade debtors and receivables, interest receivable, interest Cash 318.4 31.7 350.1 (350.1) - re
Slide 25: Business Partner Sales
Business Partner Sales Growth Over 20241 Total Portfolio 12 Months to 6 Months to 3 Months to Sales Growth by Category 30 Jun 2025 30 Jun 2025 30 Jun 2025 Total sales were 2.9% higher for the 6 months to June Fashion 0.7% 1.5% 1.3% Specialty sales were 3.9% higher for the 6 months to June Technology
Slide 26: Property Valuations June 2025
Property Valuations 30 June 2025 AUSTRALIA (A$m) Ownership Book Value Retail Cap Rate Economic Yield AUSTRALIA (A$m) Ownership Book Value Retail Cap Rate Economic Yield Australian Capital Territory South Australia Belconnen 100% 820.0 6.25% 6.70% Marion 50% 637.5 6.00% 6.97% Woden 50% 292.7 6.25% 7.
Slide 27: Important Notice
Important Notice All amounts in Australian dollars unless otherwise specified. SCENTRE GROUP LIMITED ABN 66 001 671 496 The material in this release and presentation is for general information purposes only and is given in summary form. Information in this presentation SCENTRE MANAGEMENT LIMITED is