Slide 1: FY26 Annual Results
FY26 Annual Results 20 AUGUST 2026
Slide 2: Agenda
WELCOME Agenda Highlights and Financial results portfolio performance Peter Huddle Page 04 Page 11 CEO and Managing Director Development update Appendices and summary Adrian Chye Page 15 Page 24 Chief Financial Officer Vicinity Centres FY26 Annual Results | 20 August 2026 2
Slide 3: Acknowledgement of Country
ACKNOWLEDGEMENT OF COUNTRY Vicinity Centres acknowledges the Traditional Custodians of the land and pays respect to Elders past and present. As a business that operates in many locations across the nation, we recognise and respect the cultural heritage, beliefs, and relationship with the land, which
Slide 4: Highlights and portfolio performance
Highlights and portfolio performance Peter Huddle CEO and Managing Director Queen Victoria Building, NSW
Slide 5: Strategic and Financial Highlights
STRATEGIC AND FINANCIAL HIGHLIGHTS FY26 results showcase consistently executed strategy, disciplined capital allocation and resilient sector fundamentals $1,391.2m $700.1m 12.40 cps STATUTORY NET PROFIT FUNDS FROM OPERATIONS ANNUAL DISTRIBUTION FY25: $1,004.6m FY25: $673.8m FY25: 12.00 cps Acquired
Slide 6: Portfolio Repositioning; Curating Premium Asset Portfolio Since June 2022
PORTFOLIO REPOSITIONING; CURATING PREMIUM ASSET PORTFOLIO SINCE JUNE 2022 Targeted investment and capital recycling driving portfolio differentiation, enhancing quality and unlocking growth potential VICINITY’S CAPITAL ALLOCATION SINCE JUN-22 RETAIL ASSET PORTFOLIO BY CENTRE TYPE Cumulative investme
Slide 7: Acquisition – DFO Eastern Creek
ACQUISITION – DFO EASTERN CREEK Continued execution of Vicinity’s investment strategy through the acquisition of a strategically located hybrid retail asset STRENGTHENS VICINITY’S EXISTING OUTLET PLATFORM $351 m1 • Expands Vicinity's Outlet portfolio in Sydney, where opportunities are scarce • Compr
Slide 8: Retail Sales
RETAIL SALES Growth supported by strategic tenant remixing and portfolio enhancement amid resilient but varied retail environment +3.3% MAT Six months Portfolio sales1 Jun-26 Dec-25 Jun-26 Dec-25 (Growth versus prior year) (%) (%) (%) (%) Specialty stores 3.6 4.1 1.8 5.2 TOTAL PORTFOLIO RETAIL SALES
Slide 9: Portfolio Performance
PORTFOLIO PERFORMANCE 1 Tightening retail supply , strategic leasing activity and sustained retailer confidence underpinned strong portfolio metrics +4.2% 99.6% 1.5% 4.8% p.a. PORTFOLIO QUALITY AND LEASING EXECUTION DRIVE STRONG PORTFOLIO METRICS • Highest annual leasing spread since Vicinity’s ince
Slide 10: Differentiated Asset Portfolio a Key Strength for Vicinity
DIFFERENTIATED ASSET PORTFOLIO A KEY STRENGTH FOR VICINITY On-trend retailers prioritising larger store formats; driving enhanced productivity and income growth 19% INCREASE IN AVERAGE STORE SIZE1,2 +7.5% MINI MAJOR SALES GROWTH per annum1 lululemon – Emporium Melbourne Nike – DFO South Wharf MECCA
Slide 11: Financial results
Financial results Adrian Chye Chief Financial Officer Chadstone, VIC
Slide 12: Income Statement
INCOME STATEMENT FFO per security at top end of the guidance range driven by sustained strength of portfolio metrics and disciplined financial stewardship RESULT HEADLINES FY26 FY25 Change Change • Statutory net profit after tax of $1,391.2m, comprising $700.1m of FFO and $691.1m of ($m) ($m) ($m) (
Slide 13: Valuations – 2H FY26
VALUATIONS – 2H FY26 Income growth and investor demand for quality retail assets supported positive valuation outcomes NET VALUATION INCREASE OF $293M, OR 1.8% TO $16.1B • Income growth continued to be driven by enhanced portfolio quality, strong portfolio metrics and development completions at flag
Slide 14: Capital Management
CAPITAL MANAGEMENT Disciplined, proactive and timely capital management initiatives enable continued investment in growth opportunities DEBT SOURCES STRATEGIC BALANCE SHEET MANAGEMENT • Raised $732m via 10-year DCM transactions and extended/repriced $1.2b of bank facilities, (%) 7 7 17 Bank drawn A/
Slide 15: Development update, FY27 guidance and summary
Development update, FY27 guidance and summary Peter Huddle CEO and Managing Director Chatswood Chase, NSW
Slide 16: Chatswood Chase – Completed
CHATSWOOD CHASE – COMPLETED Now Northern Sydney’s pre-eminent fashion destination, housing the most comprehensive luxury offer in NSW outside Sydney CBD ~$1.5b ESTIMATED STABILISED VALUATION1 >$250m Hermès Fred Loewe ESTIMATED DEVELOPMENT PROFIT UPON STABILISATION1 ~6.7% STABILISED YIELD ~70 bps abo
Slide 17: Galleria – On Track to Open November 2026
GALLERIA – ON TRACK TO OPEN NOVEMBER 2026 Transforming Galleria into a vibrant retail, dining and entertainment destination for Perth's northeast AN ELEVATED LINE-UP OF LEADING RETAILERS COMMITTING TO GALLERIA’S FUTURE TRANSFORMATION PROGRESSING TO PLAN 98% OF LEASES INSTRUCTED1 OPENING IN NOVEMBER
Slide 18: Uptown – Accelerated Planning
UPTOWN – ACCELERATED PLANNING Revitalisation of Uptown anticipated to commence in early 2027 ACQUIRED FULL CONTROL OF UPTOWN, EXPEDITING PLANS FOR REDEVELOPMENT • Uptown to be positioned as complete CBD retail, dining and entertainment destination • Redeveloped Uptown will fill a gap in Brisbane’s C
Slide 19: Chadstone – A Continued Evolution
CHADSTONE – A CONTINUED EVOLUTION Top tier luxury brands and MECCA elevating their presence through innovative formats and enhanced customer experiences LUXURY EXPANSION MECCA EXPANSION >2,400sqm EXPANSION ~180% INCREASE IN STORE SIZE HOME TO >200 BRANDS AND >50 SERVICES NEXT GEN MECCA’S NEXT GENERA
Slide 20: Ongoing Investment in a Well Capitalised Retail Asset Portfolio
ONGOING INVESTMENT IN A WELL CAPITALISED RETAIL ASSET PORTFOLIO Strategic tenant remixing to strengthen customer appeal and sales productivity GRAND PLAZA CASTLE PLAZA CINEMA REPLACEMENT, REBEL SPORT AND NEW F&B TENANTS NEW FULL-LINE WOOLWORTHS SUPERMARKET AND SPECIALTY STORES ~4,000sqm 3Q FY27 ~2,0
Slide 21: Realising the Mixed-Use Potential of Chatswood Chase
REALISING THE MIXED-USE POTENTIAL OF CHATSWOOD CHASE Advancing plans for two luxury residential towers alongside Chatswood Chase, Northern Sydney’s premier retail destination CHATSWOOD 480 ~3,800sqm CY 2027 Havilah and Malvern Towers APARTMENTS SITE AREA ANTICIPATE AUTHORITY APPROVAL Malvern Havilah
Slide 22: FY27 Earnings Guidance
FY27 EARNINGS GUIDANCE Strategic investments positioning Vicinity for the next phase of earnings growth FY27 EARNINGS GUIDANCE1 16.0 - 16.2 cps 13.9 - 14.1 cps FFO AFFO 5.3 - 6.6 % 95 - 100 % DISTRIBUTION FFOps GROWTH payout of AFFO KEY ASSUMPTIONS • Comparable NPI growth expected to be 3.5% (FY26:
Slide 23: FY26 Summary and FY27 Outlook
FY26 SUMMARY AND FY27 OUTLOOK Disciplined portfolio repositioning underpins Vicinity’s next phase of earnings growth SUMMARY – FY26 • Vicinity's investment approach remains fit for purpose, clear and execution led • FY26 showcases value of owning and operating a higher quality, differentiated asset
Slide 24: Appendices
APPENDICES 25 26 28 29 30 Asset transactions Australian Specialty Occupancy Development pipeline Direct portfolio summary macroeconomic Cost Ratio environment 35 36 39 40 Assets under Financial results Key dates Contact details management Vicinity Vicinity Centres CentresFY26FY26 Annual ResultsResul
Slide 25: Asset Transactions Summary
ASSET TRANSACTIONS SUMMARY Actively recycling capital into higher-quality growth assets Premium to book Divestments Price ($m) Settlement Acquisitions Price ($m) Settlement (%) FY24 550.1 9.0 FY24 and FY25 727.0 Kurralta Central, SA 29 Feb 2024 Chatswood Chase, NSW 307.0 15 Mar 2024 Roxburgh Village
Slide 26: Australian Macroeconomic Environment
AUSTRALIAN MACROECONOMIC ENVIRONMENT Population growth and employment strength continue to support consumer resilience, despite persistent cost-of-living pressures NATIONAL INCOME AND HOUSEHOLD SPENDING VS HOUSEHOLD SAVINGS RATE1 HOUSE PRICES1,2 (Seasonally adjusted, %) (Quarterly index: Jun-16=100)
Slide 27: Australian Shopping Centres Are Resilient Through Cycles
AUSTRALIAN SHOPPING CENTRES ARE RESILIENT THROUGH CYCLES Structural undersupply deepens as population growth outpaces retail floorspace investment NATIONAL SHOPPING CENTRE DEVELOPMENT SUPPLY PIPELINE BY ASSET1 STRUCTURAL UNDERSUPPLY OF RETAIL SPACE TO PERSIST (new developments and extensions, sqm) •
Slide 28: Healthy Specialty Occupancy Cost Ratio Supports Continued Rental Growth
HEALTHY SPECIALTY OCCUPANCY COST RATIO (OCR) SUPPORTS CONTINUED RENTAL GROWTH Vicinity’s OCR remains sustainable, reinforcing the outlook for future leasing outcomes SPECIALTY OCCUPANCY COSTS FAVOURABLE FUNDAMENTALS SUPPORT LEASING TENSION (%) • Constrained new retail supply and strong occupancy lev
Slide 29: Development Pipeline
DEVELOPMENT PIPELINE Premium retail opportunities underpin the near-term pipeline, while mixed-use projects enhance long-term strategic optionality Asset Project Est cost ($m)1 Status FY27 FY28 FY29+ Galleria Retail – fashion, lifestyle, entertainment and supermarket precinct ~130 Construction Chads
Slide 30: Direct Portfolio
DIRECT PORTFOLIO Differentiated national retail portfolio Vicinity Centres FY26 Annual Results | 20 August 2026 30
Slide 31: Direct Portfolio: Key Statistics by Centre
DIRECT PORTFOLIO Key statistics by centre Total Premium Outlet portfolio Chadstone CBDs/SC1,2 Centres3 Core Number of retail assets 48 1 9 9 29 Gross lettable area (000’s) (sqm)4 2,262 269 388 284 1,320 Total value5 ($m) 16,493 3,631 3,933 3,043 5,887 Portfolio weighting (by value) (%) 100 22 24 18
Slide 32: Direct Portfolio: Key Tenants
DIRECT PORTFOLIO Key tenants TOP 10 BRANDS BY INCOME TOP 10 TENANT GROUPS BY INCOME No. of % of No. of % of Rank Retailer Retailer type stores income1 Rank Retailer stores income1 Brands 1 Supermarket Kmart, Target, Officeworks, Bunnings, Priceline, 28 2.6 Priceline Pharmacy, Atomica, Australian Ski
Slide 33: Direct Portfolio: Additional Leasing Disclosures
DIRECT PORTFOLIO Additional leasing disclosures LEASE EXPIRY PROFILE (By income, %)1 28 15 14 13 13 10 2 1 2 2 0 0 Holdover FY27 FY28 FY29 FY30 FY31+ Majors All other retailers WEIGHTED AVERAGE LEASE EXPIRY (Years)1 Jun-26 Dec-25 By area 4.5 4.5 By income 3.7 3.7 Queen Victoria Building, NSW Note: T
Slide 34: Direct Portfolio: Non-comparable Centres for Sales Reporting
DIRECT PORTFOLIO Non-comparable centres for sales reporting Jun-26 Dec-25 Box Hill Central North, VIC Pre-development Pre-development Chatswood Chase, NSW Post-development Development Galleria, WA Development Development Uptown, QLD Pre-development Pre-development DFO Homebush, NSW Vicinity Centres
Slide 35: Assets Under Management
ASSETS UNDER MANAGEMENT More than 6,200 tenants across 49 assets under management1 DIRECT PORTFOLIO ASSETS UNDER MANAGEMENT Third party/ Wholly-owned Jointly-owned Total1 Total1 co-owned Number of assets 23 25 48 1 49 Value ($m) 7,357 9,136 16,4932 123/9,419 26,034 GLA (000, sqm)3 733 1,529 2,262 26
Slide 36: Financial Results: FFO Reconciliation to Statutory Net Profit
FINANCIAL RESULTS FFO reconciliation to statutory net profit after tax FY26 FY25 ($m) ($m) Statutory net profit after tax 1,391.2 1,004.6 Property revaluation increment for directly owned properties (751.1) (395.2) Non-distributable gain relating to equity accounted investments (14.2) (20.3) Amortis
Slide 37: Financial Results: Balance Sheet
FINANCIAL RESULTS Balance sheet Jun-26 Jun-25 Variance ($m) ($m) ($m) Cash and cash equivalents 79.6 80.7 (1.1) Investment properties 16,304.3 15,063.8 1,240.5 Equity accounted investments 559.9 540.8 19.1 Net derivative financial instruments 91.8 248.1 (156.3) Intangible assets 140.6 171.2 (30.6) O
Slide 38: Financial Results: Additional Debt Disclosures
FINANCIAL RESULTS Additional debt disclosures Key debt statistics Jun-26 Jun-25 Fixed rate instruments Hedge rate5 (weighted average, A$m) (weighted average, %) Total debt facilities $5.2b $5.9b 5,000 5.0 Drawn debt $4.4b $4.2b 4,000 89% 87% 4.0 Undrawn limit $0.8b $1.7b 76% 1 Weighted average cost
Slide 39: Key Dates
KEY DATES 20 August 2026 25 August 2026 26 August 2026 27 August 2026 FY26 annual results released and Ex-distribution date for FY26 final Record date for FY26 final distribution Last date for DRP election announcement of FY26 final distribution distribution 16 September 2026 17 September 2026 28 Oc
Slide 40: Disclaimer
DISCLAIMER For further information please contact: JANE KENNY General Manager, Investor Relations & Corporate Communications T: +61 3 7001 4291 E: jane.kenny@vicinity.com.au Authorisation The Board has authorised that this document be given to ASX. Disclaimer This document is a presentation of gener