Property Compendium - scentregroup.com€¦ ·...

49
Property Compendium 31 December 2017

Transcript of Property Compendium - scentregroup.com€¦ ·...

Property Compendium

mdash31 December 2017

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Portfolio Overview 1

Operating Performance 3

Retailers and Lease Expiry Profile 4

Portfolio Details 6

Scentre Group Property Profiles 7

Westfield Airport West 8

Westfield Albany 9

Westfield Belconnen 10

Westfield Bondi Junction 11

Westfield Burwood 12

Westfield Carindale 13

Westfield Carousel 14

Westfield Chatswood15

Westfield Chermside 16

Westfield Doncaster17

Westfield Fountain Gate 18

Westfield Garden City 19

Westfield Geelong 20

Westfield Helensvale 21

Westfield Hornsby 22

Westfield Hurstville 23

Westfield Knox 24

Westfield Kotara 25

Westfield Liverpool 26

Westfield Manukau City 27

Westfield Marion 28

Westfield Miranda 29

Westfield Mt Druitt 30

Westfield Newmarket 31

Westfield North Lakes 32

Westfield Parramatta 33

Westfield Penrith 34

Westfield Plenty Valley 35

Westfield Riccarton 36

Westfield Southland 37

Westfield Stirling 38

Westfield St Lukes 39

Westfield Sydney 40

Westfield Tea Tree Plaza 41

Westfield Tuggerah 42

Westfield Warringah Mall 43

Westfield West Lakes 44

Westfield Whitford City 45

Westfield Woden 46

Contents

Cover Westfield Waringah Mall This page Westfield North Lakes

Westfield Chatswood

Front Cover Image Westfield Chermside

Westfield Doncaster

Westfield Sydney

Westfield Newmarket

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 1 -

Portfolio Overview mdash

Scentre Grouprsquos (SCG) portfolio includes many of the largest and best shopping centres in Australia and New Zealand including 16 of the top 25 shopping centres in Australia by annual sales In addition over 80 of the Grouprsquos centres (by value) generated annual sales in excess of $500 million for the year ended 31 December 2017

Scentre Group has unrivalled access to potential customers with approximately 65 of the Australian population within a 30 minute drive of a Westfield shopping centre In 2017 approximately 530 million customers visited a Westfield shopping centre spending in excess of $23 billion

NUMBER OF CENTRES

BRISBANE

2WHOLLY

OWNED

3JOINTVENTURES

Australia34 Centres A$350 billion 1

New Zealand5 Centres NZ$13 billion 1

$59BN

SYDNEY

7WHOLLY

OWNED

7JOINTVENTURES

CANBERRA

1WHOLLY

OWNED

1JOINTVENTURE

MELBOURNE

1WHOLLY

OWNED

6JOINTVENTURES

ADELAIDE

3JOINT

VENTURES

PERTH

2WHOLLY

OWNED

1JOINTVENTURE

$17BN

5

14

27 5

33

5JOINT

VENTURES

All dollar values relate to SCG share only

$13BN

$13BN$54BN

$14BN

$186BN

PORTFOLIO BY GLA

NSW 39

[1 Pro forma post sale of four Australian assets settlement expected Q3 2015]

1 Includes construction in progress and assets held for redevelopment

VIC 20

QLD 15

SA 8

WA 6

ACT 5

NZ 7

NSW 52

VIC 15

QLD 15

SA 4

WA 6

ACT 4

NZ 4

PORTFOLIO BY ASSET VALUE (SCG SHARE)

Portfolio By Asset Value (SCG Share)

Portfolio by GLA

38

[1 Pro forma post sale of four Australian assets settlement expected Q3 2015]

20 16 8 6 5 6

53 15 17 4 5 4 3

NSW VIC QLD SA WA ACT NZ

NSW VIC QLD SA WA ACT NZ

As at 31 December 2017 Scentre Grouprsquos portfolio included 39 shopping centres spread across Australia and New Zealand with the Grouprsquos ownership interests valued at $354 billion

The map shows the location of Scentre Grouprsquos assets

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 2 -

Westfield Bondi Junction

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 3 -

Operating Performance

mdashScentre Grouprsquos portfolio has a long track record of delivering strong operating metrics and the portfolio has remained in excess of 99 leased for over 20 years

Combined Portfolio 2015 2016 2017

Total Annual Sales $223bn $227bn $231bn

Specialty Store Sales psm $10867 $11203 $11201

Comparable Specialty Store Sales Growth 55 26 10

Specialty Store Rent psm $1569 $1607 $1622

Comparable Net Property Income Growth 26 29 28

Scentre Grouprsquos leases are structured to provide predictable and sustainable income growth For the year ended 31 December 2017 99 of the rental income from the Grouprsquos portfolio was derived from contracted base rents and the remaining 1 of rental income was directly related to retailer sales

In addition the scale of the Grouprsquos portfolio provides a diversified revenue base that significantly reduced the exposure to any single shopping centre or retailer As at 31 December 2017 the highest valued retail shopping centre represented 14 of total asset value and the 10 highest valued retail shopping centres represented 58

For the year ended 31 December 2017 no single anchor retailer contributed more than 3 of rental income and no specialty store retailer contributed more than 2

Operating Performance of Scentre Grouprsquos Portfolio

mdash

Westfield Warringah Mall

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 4 -

Anchor RetailersScentre Group is the major landlord and an integral partner to major household retail brands such as David Jones Myer Farmers Target Kmart BIG W Coles Woolworths and Aldi Anchor retailers generally have lease terms of 20 to 25 years with stepped increases throughout the term that can be fixed linked to the consumer price index (CPI) or sales turnover based As of 31 December 2017 anchor retailers represented 53 of GLA and 16 of rental income

The following table outlines the anchor retailers in Scentre Grouprsquos portfolio as of 31 December 2017

Anchor Retailers No of Stores

GLA (000rsquos

sqm)

of Retail

GLA

Average Lease Term Remaining

(years)

Department Stores

Myer 22 3954 114 95

David Jones 16 2361 68 108

Farmers 4 322 09 63

Harris Scarfe 10 295 09 45

Sub Total 52 6932 200 96

Discount Department Stores

Target 32 2378 69 76

Kmart 24 1668 48 74

BIG W 18 1470 42 98

Sub Total 74 5516 159 81

Supermarkets

Coles 33 1282 37 85

Woolworths 30 1277 37 69

Aldi 17 255 07 53

Countdown 3 122 04 55

Pak N Save 1 63 02 65

New World 1 34 01 47

Spudshed 1 47 01 69

Sub Total 86 3080 90 73

Cinemas

Event Cinemas 16 955 28 73

Hoyts 9 457 13 74

Village Roadshow 5 329 09 82

Birch Carroll amp Coyle 2 144 04 75

Reading Cinemas 1 43 01 19

Sub Total 33 1928 56 74

Others

Toys R Us 10 278 08 19

Harvey Norman 5 216 06 27

Bunnings Warehouse 3 178 05 12

Dan Murphys 7 98 03 49

Kmart Garden 1 42 01 09

Sub Total 26 811 23 23

Grand Total 271 18267 528 82

SCENTRE GROUP PROPERTY COMPENDIUM 2016

- 4 -

Retailers and Lease Expiry Profile

Retailers No of Stores

GLA (000s

sqm)

of Retail

GLA

Super Retail Group 35 520 15

(Rebel Sport Rays Outdoors Supercheap Auto)

Cotton On Group 167 438 13

(Cotton On Cotton On Kids Cotton On Body Typo Rubi Shoes Factorie T-Bar Supre)

JB Hi Fi 32 374 11

(JB Hi Fi JB Hi Fi Home)

The Just Group 212 300 09

(Just Jeans Jay Jays Jacquie E Peter Alexander Portmans Dotti Smiggle)

Best amp Less 20 214 06

Country Road Group 81 196 06

(Country Road Trenery Witchery Mimco Politix)

BB Retail 147 176 05

(Lovisa Bras N Things Honey Birdette Adairs Adairs Kids Dusk)

Australian Pharmaceutical Industries 39 174 05

(Priceline Priceline Pharmacy Soul Pattinson Chemist)

ZARA 8 169 05

Specialty Fashion Group 98 160 05

(Millers Katies Autograph City Chic Crossroads Rivers)

Total 839 2722 79

Lease Expiry ProfileFor the year ended 31 December 2017 Scentre Group completed 2466 lease deals covering an aggregate of 345570 square metres Scentre Group has a 60 year weighted average unexpired lease term across the portfolio

00

50

100

150

200178

137

111116

111

60

4227

3529

80 73

99

5945

53

3728

Expiring

Total Portfolio Leased Area Specialty Store Retailers Leased Area

00

50

100

150

200

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Expiring 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

200

118 115

Other Retailers Specialty retailers generally have lease terms of 5 to 7 years and for larger stores 5 to 10 years Specialty store retailers generally have leases with annual contracted increases of CPI plus 2 For the year ended 31 December 2017 the 10 largest specialty store retailers represented 8 of GLA and contributed 10 of rental income

The following table outlines the 10 largest specialty store retailers as of 31 December 2017

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 5 -

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 6 -

At 31 December 2017 Ownership Interest

()

Carrying Amount

($m)

Retail Capitalisation

Rate

Total Annual Sales

($m)

Specialty Annual Sales

($psm)

Lettable Area (lsquo000s sqm)

Number of Tenants

Australia

Australian Capital Territory

Belconnen 1000 9350 550 5385 8683 964 282

Woden 500 3500 550 3620 9130 719 242

New South Wales

Bondi Junction 1000 31436 425 10943 15956 1312 477

Burwood 1000 10952 500 4748 11428 632 237

Chatswood 1000 13671 450 5924 11409 808 271

Hornsby 1000 10952 525 6568 8771 998 322

Hurstville 500 4375 525 5429 10555 621 258

Kotara2 1000 8150 575 4701 11087 742 259

Liverpool 500 5501 525 5004 9761 834 340

Miranda 500 12705 450 9494 12379 1285 456

Mt Druitt 500 3150 550 4121 8948 600 236

Parramatta 500 10343 475 8345 12215 1377 468

Penrith 500 7500 475 6761 12109 917 333

Sydney3 1000 50274 412 11839 22194 1660 337

Tuggerah 1000 7850 550 4798 9093 834 263

Warringah Mall 500 9300 500 7233 8837 1319 388

Queensland

Carindale4 500 8136 525 8963 11150 1366 411

Chermside1 1000 26150 450 9300 12833 1756 496

Garden City 1000 17050 475 7906 10422 1406 413

Helensvale 500 2375 575 3756 12416 449 188

North Lakes 500 4750 500 6508 10510 856 278

South Australia

Marion 500 7375 525 8367 11375 1371 332

Tea Tree Plaza2 500 4003 550 5027 11105 953 250

West Lakes2 500 2450 600 3778 9214 722 242

Victoria

Airport West 500 2135 575 3410 9205 523 171

Doncaster 500 12000 450 9374 14042 1222 429

Fountain Gate 1000 20900 450 10356 10242 1783 454

Geelong 500 2650 575 2743 8982 516 178

Knox 500 5765 550 6773 9332 1413 416

Plenty Valley2 500 2610 525 3518 8534 522 178

Southland 500 8075 500 8242 9369 1291 388

Western Australia

Carousel2 1000 10800 550 5020 10860 824 290

Stirling (Innaloo) 1000 3310 625 3296 8941 470 172

Whitford City1 500 3300 575 4477 7524 854 297

New Zealand (NZD)

Albany 510 3014 588 4077 13485 534 146

Manukau 510 1890 700 2809 11698 455 193

Newmarket 510 1418 663 1348 11688 313 109

Riccarton 510 3162 650 5313 14557 556 195

St Lukes 510 2652 625 3470 13125 398 177

Total Portfolio (AUD) 353874 4915 231501 11201 36174 11572

1 Developments completed during the year2 Properties currently under redevelopment3 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers As at 31 December 2017 the weighted average capitalisation

rate of Sydney was 432 comprising retail 412 (Sydney City 40 and Sydney Central Plaza 45) and office 495 4 50 interest in this shopping centre is consolidated and 217 (31 December 2016 235) is shown as non controlling interest In 2017 the Group

acquired additional securities in Carindale Property Trust (CPT) increasing the Grouprsquos interest in CPT to 566 (31 December 2016 530)5 Weighted average capitalisation rate including non-retail assets

Portfolio Details

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 7 -

Scentre Group

Property Profiles

Westfield Chatswood

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 8 - Link To Disclaimer

Link to Trade Area Map

171 52289 m2 $3410 2640NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Airport West is conveniently located just 10 minutes from Tullamarine Airport and caters to a trade area population of 323000 residents

High rates of home ownership and household incomes that are in line with the Melbourne metropolitan average are found in the Main Trade Area Family composition is broadly in line with the Melbourne average with 26 of households being families with children under 15 years

The Total Trade Area retail spend in 2017 was estimated to be $42 billion with the Main Trade Area spend estimated to be $14 billion with retail spend per capita ($14066) broadly in line with the Melbourne metro average ($14247) Average household incomes in the Main Trade Area as at the 2016 Census were $97194 per annum which was also broadly in line with the Melbourne metro average ($99752)

There is a high proportion of residents who own their own home or are paying off a mortgage and 26 of households in the Main Trade area are families with children under 15 years in line with the Melbourne Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 162 ha

Car Park Spaces 2640

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $2135

Fair Value ($ million) $4270

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1976

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3410

Annual Sales Growth 42

Specialty Sales $9205 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $14 $43

Population 98972 322892

Anchor Retailers

GLA

Harris Scarfe 2675 51

Target 7230 138

KMart 6918 132

Coles 4000 76

Woolworths 3661 70

Aldi 1489 28

Cinemas 2618 50

Major Tenant Total 28591 547

AIRPORT WEST VIC29-35 LOUIS STREET AIRPORT WEST VIC 3042

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 9 - Link To Disclaimer

Link to Trade Area Map

146 53395 m2 $4077 m 2373NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Albany is located north of the Waitemata Harbour approximately 15 kilometres northwest of the Auckland CBD in one of the cityrsquos newest suburbs The centre caters to a trade area population of 390090 residents and is the landmark retail destination in the area

The total retail spend in Westfield Albanyrsquos Total Trade Area in 2017 was estimated at $64 billion while the total retail spend in the Main Trade Area was estimated at $35 billion The total retail spend per capita for the Westfield Albany Main Trade Area was estimated at $16000 per annum in 2017 which is broadly in line with the Auckland Region average ($15866)

The average household income in the Main Trade Area in 2013 for Westfield Albany was $92848 per annum which is also broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 208 ha

Car Park Spaces 2373

Value

Acquisition Date 2007

Fair Value ($ million) SCG Share $3014

Fair Value ($ million) $5910

Valuation Date Dec 17

Retail Capitalisation Rate 588

Centre Opened 2007

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4077

Annual Sales Growth 25

Specialty Sales $13485 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $64

Population 218416 390442

Anchor Retailers

GLA

Farmers 9946 186

KMart 6742 126

New World 3387 63

Cinemas 6778 127

Major Tenant Total 26852 503

ALBANY NZ219 DON MCKINNON DRIVE AUCKLAND 0632 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 10 - Link To Disclaimer

Link to Trade Area Map

282 96401 m2 $5385 m 2880NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 83 ha

Car Park Spaces 2880

Value

Acquisition Date 1986

Fair Value ($ million) SCG Share $9350

Fair Value ($ million) $9350

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1978

Centre Redeveloped 2011

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5385

Annual Sales Growth -14

Specialty Sales $8683 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $78

Population 194658 448155

Anchor Retailers

GLA

Myer 17639 183

Harris Scarfe 2103 22

Target 6807 71

KMart 7654 79

Coles 4151 43

Woolworths 4820 50

Aldi 1525 16

Cinemas 4380 45

Toys R Us 3445 36

Dan Murphys 1328 14

Major Tenant Total 53852 559

BELCONNEN ACTBENJAMIN WAY BELCONNEN ACT 2617

Located in the northern suburbs of Canberra Westfield Belconnen was the largest shopping centre in the southern hemisphere when it opened in 1978 and is still one of Canberrarsquos biggest The centre is located 13 kilometres from the Canberra CBD and services a total trade area population of approximately 448000 residents

The centrersquos Total Trade Area retail spend was estimated at $78 billion in 2017 while the total retail spend for the Main Trade Area was estimated at $34 billion

The Main Trade Area was characterised at the 2016 Census by a high average household income of $116925 per annum 4 above the Sydney Metro average ($112106)

The total annual retail spend per capita in the Main Trade Area is estimated at $17072 17 above the Sydney Metro average ($14609)

There is a high concentration of professional workers in the centrersquos Main Trade Area owing to the abundance of sizeable commercial and government employers in the area 69 who own their own home or are paying off a mortgage while 32 of households are families with children under 15

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 11 - Link To Disclaimer

Link to Trade Area Map

477 131155 m2 $10943 m 3304NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Bondi Junction is one of Sydneyrsquos iconic retail destinations Situated in the heart of the Eastern Suburbs one of the cityrsquos most desirable areas the centre is only 6 kilometres from the Sydney CBD Servicing a trade area population in excess of 440000 the centre is one of the strongest performers in the Scentre Group portfolio with 2017 retail sales totalling $109 billion

The centre is defined by a premium retail offer that caters to its discerning style conscious clientele International luxury brands sit alongside local designers and some of the most coveted high street brands in the world The retail mix is complemented by a customer service offer that includes valet parking a styling suite lsquohandsfreersquo shopping and a concierge service

The centrersquos Total Trade Area spend was estimated at $78 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $38 billion

Average household income in 2016 in the Total Trade Area was $120703 per annum which is 8 higher than the Sydney Metro average ($112106) with a high retail spend per capita of $17694 per annum 21 above the Sydney Metro average ($14609)

The Total Trade Area includes large pockets of high density living with 63 of households being flats units or apartments Workers from the trade area skew towards managersprofessionals and there is also a higher proportion of younger residents aged between 25-39 years compared with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 28 ha

Car Park Spaces 3304

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $31436

Fair Value ($ million) $31436

Valuation Date Dec 17

Retail Capitalisation Rate 425

Centre Opened 1970

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10943

Annual Sales Growth 26

Specialty Sales $15956 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $74

Population 195755 441098

Anchor Retailers

GLA

Myer 17887 136

David Jones 19234 147

Target 5311 40

Coles 4758 36

Woolworths 3750 29

Cinemas 6719 51

Harvey Norman 1500 11

Major Tenant Total 59158 451

BONDI JUNCTION NSW500 OXFORD STREET BONDI JUNCTION NSW 2022

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 12 - Link To Disclaimer

Link to Trade Area Map

237 63215 m2 $4748 m 3014NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 3014

Value

Acquisition Date 1992

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1966

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4748

Annual Sales Growth -02

Specialty Sales $11428 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $65

Population 240829 454817

Anchor Retailers

GLA

David Jones 14658 232

Target 5933 94

KMart 6121 97

Coles 3919 62

Woolworths 3625 57

Cinemas 5697 90

Major Tenant Total 39953 632

BURWOOD NSW100 BURWOOD ROAD BURWOOD NSW 2134

Westfield Burwood is centrally located within Sydneyrsquos Inner West approximately 12 kilometres from the CBD Strategically positioned within easy reach of Burwood Railway Station on the bustling commercial strip the centre caters to a trade area population in excess of 454000 residents

The Total Trade Area retail spend is estimated at $65 billion while the Main Trade Area spend estimated to be $35 billion

Westfield Burwoodrsquos spend per capita for the Main Trade Area is estimated at $14717 which is broadly in line with the Sydney Metro average ($14609)

The centrersquos catchment area has a diverse population with 49 of the Main Trade Area born outside Australia and 36 born in Asia A high proportion of workers are professionals or other white collar workers and there are pockets of high density living with nearly 49 of homes being flats units or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 13 - Link To Disclaimer

Link to Trade Area Map

411 136609 m2 $8933 m 5897NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Carindale Property Trust (50)

APPF (50)

Centre Manager Scentre Group

Site Area 158 ha

Car Park Spaces 5897

Value

Acquisition Date 1999

Fair Value ($ million) SCG Share $8136

Fair Value ($ million) $16272

Valuation Date Dec 17a

Retail Capitalisation Rate 525

Centre Opened 1979

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8963

Annual Sales Growth 09

Specialty Sales $11150 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $93

Population 270989 663470

Anchor Retailers

GLA

Myer 20840 153

David Jones 15246 112

BIG W 8527 63

Target 8020 59

Harvey Norman 4814 35

Coles 4167 31

Woolworths 3971 29

Cinemas 3805 28

Harris Scarfe 2589 19

Aldi 1672 12

Major Tenant Total 73651 540

CARINDALE QLD1151 CREEK ROAD CARINDALE QLD 4152

Scentre Group has 566 interest in CPT

Westfield Carindale is situated in an affluent quarter of Brisbanersquos South Eastern Suburbs approximately 12 kilometres from the Brisbane CBD The centre services a trade area population of approximately 663000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access

One of the cityrsquos leading retail destinations Carindale boasts a comprehensive fashion offer that includes Sas amp Bide Leona Edmiston and Chanel Beaute The adjoining Carindale Home amp Leisure Centre complements the retail mix with bulky goods retail

The total retail spend by the Westfield Carindale Total Trade Area in 2017 was estimated at $93 billion while the total retail spend by the Main Trade Area was estimated at $39 billion

The centrersquos total annual retail spend per capita is estimated at $14059 4 above the Brisbane Metro average ($13563) while the total annual retail spend per capita for the Main Trade Area is estimated to be $14548 which is 7 above the Brisbane Metro average ($13563)

Westfield Carindalersquos Main Trade Area had a high average household income in 2016 of $110814 per annum which is 11 above the Brisbane Metro average ($100034) Household composition is in line with the Brisbane Metro average with 29 being families with children under 15 years of age

In the Main Trade Area 78 of workers are professional or other white collar workers which is above the Brisbane Metro average of 70

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Portfolio Overview 1

Operating Performance 3

Retailers and Lease Expiry Profile 4

Portfolio Details 6

Scentre Group Property Profiles 7

Westfield Airport West 8

Westfield Albany 9

Westfield Belconnen 10

Westfield Bondi Junction 11

Westfield Burwood 12

Westfield Carindale 13

Westfield Carousel 14

Westfield Chatswood15

Westfield Chermside 16

Westfield Doncaster17

Westfield Fountain Gate 18

Westfield Garden City 19

Westfield Geelong 20

Westfield Helensvale 21

Westfield Hornsby 22

Westfield Hurstville 23

Westfield Knox 24

Westfield Kotara 25

Westfield Liverpool 26

Westfield Manukau City 27

Westfield Marion 28

Westfield Miranda 29

Westfield Mt Druitt 30

Westfield Newmarket 31

Westfield North Lakes 32

Westfield Parramatta 33

Westfield Penrith 34

Westfield Plenty Valley 35

Westfield Riccarton 36

Westfield Southland 37

Westfield Stirling 38

Westfield St Lukes 39

Westfield Sydney 40

Westfield Tea Tree Plaza 41

Westfield Tuggerah 42

Westfield Warringah Mall 43

Westfield West Lakes 44

Westfield Whitford City 45

Westfield Woden 46

Contents

Cover Westfield Waringah Mall This page Westfield North Lakes

Westfield Chatswood

Front Cover Image Westfield Chermside

Westfield Doncaster

Westfield Sydney

Westfield Newmarket

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 1 -

Portfolio Overview mdash

Scentre Grouprsquos (SCG) portfolio includes many of the largest and best shopping centres in Australia and New Zealand including 16 of the top 25 shopping centres in Australia by annual sales In addition over 80 of the Grouprsquos centres (by value) generated annual sales in excess of $500 million for the year ended 31 December 2017

Scentre Group has unrivalled access to potential customers with approximately 65 of the Australian population within a 30 minute drive of a Westfield shopping centre In 2017 approximately 530 million customers visited a Westfield shopping centre spending in excess of $23 billion

NUMBER OF CENTRES

BRISBANE

2WHOLLY

OWNED

3JOINTVENTURES

Australia34 Centres A$350 billion 1

New Zealand5 Centres NZ$13 billion 1

$59BN

SYDNEY

7WHOLLY

OWNED

7JOINTVENTURES

CANBERRA

1WHOLLY

OWNED

1JOINTVENTURE

MELBOURNE

1WHOLLY

OWNED

6JOINTVENTURES

ADELAIDE

3JOINT

VENTURES

PERTH

2WHOLLY

OWNED

1JOINTVENTURE

$17BN

5

14

27 5

33

5JOINT

VENTURES

All dollar values relate to SCG share only

$13BN

$13BN$54BN

$14BN

$186BN

PORTFOLIO BY GLA

NSW 39

[1 Pro forma post sale of four Australian assets settlement expected Q3 2015]

1 Includes construction in progress and assets held for redevelopment

VIC 20

QLD 15

SA 8

WA 6

ACT 5

NZ 7

NSW 52

VIC 15

QLD 15

SA 4

WA 6

ACT 4

NZ 4

PORTFOLIO BY ASSET VALUE (SCG SHARE)

Portfolio By Asset Value (SCG Share)

Portfolio by GLA

38

[1 Pro forma post sale of four Australian assets settlement expected Q3 2015]

20 16 8 6 5 6

53 15 17 4 5 4 3

NSW VIC QLD SA WA ACT NZ

NSW VIC QLD SA WA ACT NZ

As at 31 December 2017 Scentre Grouprsquos portfolio included 39 shopping centres spread across Australia and New Zealand with the Grouprsquos ownership interests valued at $354 billion

The map shows the location of Scentre Grouprsquos assets

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 2 -

Westfield Bondi Junction

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 3 -

Operating Performance

mdashScentre Grouprsquos portfolio has a long track record of delivering strong operating metrics and the portfolio has remained in excess of 99 leased for over 20 years

Combined Portfolio 2015 2016 2017

Total Annual Sales $223bn $227bn $231bn

Specialty Store Sales psm $10867 $11203 $11201

Comparable Specialty Store Sales Growth 55 26 10

Specialty Store Rent psm $1569 $1607 $1622

Comparable Net Property Income Growth 26 29 28

Scentre Grouprsquos leases are structured to provide predictable and sustainable income growth For the year ended 31 December 2017 99 of the rental income from the Grouprsquos portfolio was derived from contracted base rents and the remaining 1 of rental income was directly related to retailer sales

In addition the scale of the Grouprsquos portfolio provides a diversified revenue base that significantly reduced the exposure to any single shopping centre or retailer As at 31 December 2017 the highest valued retail shopping centre represented 14 of total asset value and the 10 highest valued retail shopping centres represented 58

For the year ended 31 December 2017 no single anchor retailer contributed more than 3 of rental income and no specialty store retailer contributed more than 2

Operating Performance of Scentre Grouprsquos Portfolio

mdash

Westfield Warringah Mall

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 4 -

Anchor RetailersScentre Group is the major landlord and an integral partner to major household retail brands such as David Jones Myer Farmers Target Kmart BIG W Coles Woolworths and Aldi Anchor retailers generally have lease terms of 20 to 25 years with stepped increases throughout the term that can be fixed linked to the consumer price index (CPI) or sales turnover based As of 31 December 2017 anchor retailers represented 53 of GLA and 16 of rental income

The following table outlines the anchor retailers in Scentre Grouprsquos portfolio as of 31 December 2017

Anchor Retailers No of Stores

GLA (000rsquos

sqm)

of Retail

GLA

Average Lease Term Remaining

(years)

Department Stores

Myer 22 3954 114 95

David Jones 16 2361 68 108

Farmers 4 322 09 63

Harris Scarfe 10 295 09 45

Sub Total 52 6932 200 96

Discount Department Stores

Target 32 2378 69 76

Kmart 24 1668 48 74

BIG W 18 1470 42 98

Sub Total 74 5516 159 81

Supermarkets

Coles 33 1282 37 85

Woolworths 30 1277 37 69

Aldi 17 255 07 53

Countdown 3 122 04 55

Pak N Save 1 63 02 65

New World 1 34 01 47

Spudshed 1 47 01 69

Sub Total 86 3080 90 73

Cinemas

Event Cinemas 16 955 28 73

Hoyts 9 457 13 74

Village Roadshow 5 329 09 82

Birch Carroll amp Coyle 2 144 04 75

Reading Cinemas 1 43 01 19

Sub Total 33 1928 56 74

Others

Toys R Us 10 278 08 19

Harvey Norman 5 216 06 27

Bunnings Warehouse 3 178 05 12

Dan Murphys 7 98 03 49

Kmart Garden 1 42 01 09

Sub Total 26 811 23 23

Grand Total 271 18267 528 82

SCENTRE GROUP PROPERTY COMPENDIUM 2016

- 4 -

Retailers and Lease Expiry Profile

Retailers No of Stores

GLA (000s

sqm)

of Retail

GLA

Super Retail Group 35 520 15

(Rebel Sport Rays Outdoors Supercheap Auto)

Cotton On Group 167 438 13

(Cotton On Cotton On Kids Cotton On Body Typo Rubi Shoes Factorie T-Bar Supre)

JB Hi Fi 32 374 11

(JB Hi Fi JB Hi Fi Home)

The Just Group 212 300 09

(Just Jeans Jay Jays Jacquie E Peter Alexander Portmans Dotti Smiggle)

Best amp Less 20 214 06

Country Road Group 81 196 06

(Country Road Trenery Witchery Mimco Politix)

BB Retail 147 176 05

(Lovisa Bras N Things Honey Birdette Adairs Adairs Kids Dusk)

Australian Pharmaceutical Industries 39 174 05

(Priceline Priceline Pharmacy Soul Pattinson Chemist)

ZARA 8 169 05

Specialty Fashion Group 98 160 05

(Millers Katies Autograph City Chic Crossroads Rivers)

Total 839 2722 79

Lease Expiry ProfileFor the year ended 31 December 2017 Scentre Group completed 2466 lease deals covering an aggregate of 345570 square metres Scentre Group has a 60 year weighted average unexpired lease term across the portfolio

00

50

100

150

200178

137

111116

111

60

4227

3529

80 73

99

5945

53

3728

Expiring

Total Portfolio Leased Area Specialty Store Retailers Leased Area

00

50

100

150

200

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Expiring 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

200

118 115

Other Retailers Specialty retailers generally have lease terms of 5 to 7 years and for larger stores 5 to 10 years Specialty store retailers generally have leases with annual contracted increases of CPI plus 2 For the year ended 31 December 2017 the 10 largest specialty store retailers represented 8 of GLA and contributed 10 of rental income

The following table outlines the 10 largest specialty store retailers as of 31 December 2017

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 5 -

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 6 -

At 31 December 2017 Ownership Interest

()

Carrying Amount

($m)

Retail Capitalisation

Rate

Total Annual Sales

($m)

Specialty Annual Sales

($psm)

Lettable Area (lsquo000s sqm)

Number of Tenants

Australia

Australian Capital Territory

Belconnen 1000 9350 550 5385 8683 964 282

Woden 500 3500 550 3620 9130 719 242

New South Wales

Bondi Junction 1000 31436 425 10943 15956 1312 477

Burwood 1000 10952 500 4748 11428 632 237

Chatswood 1000 13671 450 5924 11409 808 271

Hornsby 1000 10952 525 6568 8771 998 322

Hurstville 500 4375 525 5429 10555 621 258

Kotara2 1000 8150 575 4701 11087 742 259

Liverpool 500 5501 525 5004 9761 834 340

Miranda 500 12705 450 9494 12379 1285 456

Mt Druitt 500 3150 550 4121 8948 600 236

Parramatta 500 10343 475 8345 12215 1377 468

Penrith 500 7500 475 6761 12109 917 333

Sydney3 1000 50274 412 11839 22194 1660 337

Tuggerah 1000 7850 550 4798 9093 834 263

Warringah Mall 500 9300 500 7233 8837 1319 388

Queensland

Carindale4 500 8136 525 8963 11150 1366 411

Chermside1 1000 26150 450 9300 12833 1756 496

Garden City 1000 17050 475 7906 10422 1406 413

Helensvale 500 2375 575 3756 12416 449 188

North Lakes 500 4750 500 6508 10510 856 278

South Australia

Marion 500 7375 525 8367 11375 1371 332

Tea Tree Plaza2 500 4003 550 5027 11105 953 250

West Lakes2 500 2450 600 3778 9214 722 242

Victoria

Airport West 500 2135 575 3410 9205 523 171

Doncaster 500 12000 450 9374 14042 1222 429

Fountain Gate 1000 20900 450 10356 10242 1783 454

Geelong 500 2650 575 2743 8982 516 178

Knox 500 5765 550 6773 9332 1413 416

Plenty Valley2 500 2610 525 3518 8534 522 178

Southland 500 8075 500 8242 9369 1291 388

Western Australia

Carousel2 1000 10800 550 5020 10860 824 290

Stirling (Innaloo) 1000 3310 625 3296 8941 470 172

Whitford City1 500 3300 575 4477 7524 854 297

New Zealand (NZD)

Albany 510 3014 588 4077 13485 534 146

Manukau 510 1890 700 2809 11698 455 193

Newmarket 510 1418 663 1348 11688 313 109

Riccarton 510 3162 650 5313 14557 556 195

St Lukes 510 2652 625 3470 13125 398 177

Total Portfolio (AUD) 353874 4915 231501 11201 36174 11572

1 Developments completed during the year2 Properties currently under redevelopment3 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers As at 31 December 2017 the weighted average capitalisation

rate of Sydney was 432 comprising retail 412 (Sydney City 40 and Sydney Central Plaza 45) and office 495 4 50 interest in this shopping centre is consolidated and 217 (31 December 2016 235) is shown as non controlling interest In 2017 the Group

acquired additional securities in Carindale Property Trust (CPT) increasing the Grouprsquos interest in CPT to 566 (31 December 2016 530)5 Weighted average capitalisation rate including non-retail assets

Portfolio Details

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 7 -

Scentre Group

Property Profiles

Westfield Chatswood

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 8 - Link To Disclaimer

Link to Trade Area Map

171 52289 m2 $3410 2640NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Airport West is conveniently located just 10 minutes from Tullamarine Airport and caters to a trade area population of 323000 residents

High rates of home ownership and household incomes that are in line with the Melbourne metropolitan average are found in the Main Trade Area Family composition is broadly in line with the Melbourne average with 26 of households being families with children under 15 years

The Total Trade Area retail spend in 2017 was estimated to be $42 billion with the Main Trade Area spend estimated to be $14 billion with retail spend per capita ($14066) broadly in line with the Melbourne metro average ($14247) Average household incomes in the Main Trade Area as at the 2016 Census were $97194 per annum which was also broadly in line with the Melbourne metro average ($99752)

There is a high proportion of residents who own their own home or are paying off a mortgage and 26 of households in the Main Trade area are families with children under 15 years in line with the Melbourne Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 162 ha

Car Park Spaces 2640

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $2135

Fair Value ($ million) $4270

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1976

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3410

Annual Sales Growth 42

Specialty Sales $9205 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $14 $43

Population 98972 322892

Anchor Retailers

GLA

Harris Scarfe 2675 51

Target 7230 138

KMart 6918 132

Coles 4000 76

Woolworths 3661 70

Aldi 1489 28

Cinemas 2618 50

Major Tenant Total 28591 547

AIRPORT WEST VIC29-35 LOUIS STREET AIRPORT WEST VIC 3042

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 9 - Link To Disclaimer

Link to Trade Area Map

146 53395 m2 $4077 m 2373NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Albany is located north of the Waitemata Harbour approximately 15 kilometres northwest of the Auckland CBD in one of the cityrsquos newest suburbs The centre caters to a trade area population of 390090 residents and is the landmark retail destination in the area

The total retail spend in Westfield Albanyrsquos Total Trade Area in 2017 was estimated at $64 billion while the total retail spend in the Main Trade Area was estimated at $35 billion The total retail spend per capita for the Westfield Albany Main Trade Area was estimated at $16000 per annum in 2017 which is broadly in line with the Auckland Region average ($15866)

The average household income in the Main Trade Area in 2013 for Westfield Albany was $92848 per annum which is also broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 208 ha

Car Park Spaces 2373

Value

Acquisition Date 2007

Fair Value ($ million) SCG Share $3014

Fair Value ($ million) $5910

Valuation Date Dec 17

Retail Capitalisation Rate 588

Centre Opened 2007

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4077

Annual Sales Growth 25

Specialty Sales $13485 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $64

Population 218416 390442

Anchor Retailers

GLA

Farmers 9946 186

KMart 6742 126

New World 3387 63

Cinemas 6778 127

Major Tenant Total 26852 503

ALBANY NZ219 DON MCKINNON DRIVE AUCKLAND 0632 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 10 - Link To Disclaimer

Link to Trade Area Map

282 96401 m2 $5385 m 2880NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 83 ha

Car Park Spaces 2880

Value

Acquisition Date 1986

Fair Value ($ million) SCG Share $9350

Fair Value ($ million) $9350

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1978

Centre Redeveloped 2011

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5385

Annual Sales Growth -14

Specialty Sales $8683 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $78

Population 194658 448155

Anchor Retailers

GLA

Myer 17639 183

Harris Scarfe 2103 22

Target 6807 71

KMart 7654 79

Coles 4151 43

Woolworths 4820 50

Aldi 1525 16

Cinemas 4380 45

Toys R Us 3445 36

Dan Murphys 1328 14

Major Tenant Total 53852 559

BELCONNEN ACTBENJAMIN WAY BELCONNEN ACT 2617

Located in the northern suburbs of Canberra Westfield Belconnen was the largest shopping centre in the southern hemisphere when it opened in 1978 and is still one of Canberrarsquos biggest The centre is located 13 kilometres from the Canberra CBD and services a total trade area population of approximately 448000 residents

The centrersquos Total Trade Area retail spend was estimated at $78 billion in 2017 while the total retail spend for the Main Trade Area was estimated at $34 billion

The Main Trade Area was characterised at the 2016 Census by a high average household income of $116925 per annum 4 above the Sydney Metro average ($112106)

The total annual retail spend per capita in the Main Trade Area is estimated at $17072 17 above the Sydney Metro average ($14609)

There is a high concentration of professional workers in the centrersquos Main Trade Area owing to the abundance of sizeable commercial and government employers in the area 69 who own their own home or are paying off a mortgage while 32 of households are families with children under 15

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 11 - Link To Disclaimer

Link to Trade Area Map

477 131155 m2 $10943 m 3304NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Bondi Junction is one of Sydneyrsquos iconic retail destinations Situated in the heart of the Eastern Suburbs one of the cityrsquos most desirable areas the centre is only 6 kilometres from the Sydney CBD Servicing a trade area population in excess of 440000 the centre is one of the strongest performers in the Scentre Group portfolio with 2017 retail sales totalling $109 billion

The centre is defined by a premium retail offer that caters to its discerning style conscious clientele International luxury brands sit alongside local designers and some of the most coveted high street brands in the world The retail mix is complemented by a customer service offer that includes valet parking a styling suite lsquohandsfreersquo shopping and a concierge service

The centrersquos Total Trade Area spend was estimated at $78 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $38 billion

Average household income in 2016 in the Total Trade Area was $120703 per annum which is 8 higher than the Sydney Metro average ($112106) with a high retail spend per capita of $17694 per annum 21 above the Sydney Metro average ($14609)

The Total Trade Area includes large pockets of high density living with 63 of households being flats units or apartments Workers from the trade area skew towards managersprofessionals and there is also a higher proportion of younger residents aged between 25-39 years compared with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 28 ha

Car Park Spaces 3304

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $31436

Fair Value ($ million) $31436

Valuation Date Dec 17

Retail Capitalisation Rate 425

Centre Opened 1970

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10943

Annual Sales Growth 26

Specialty Sales $15956 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $74

Population 195755 441098

Anchor Retailers

GLA

Myer 17887 136

David Jones 19234 147

Target 5311 40

Coles 4758 36

Woolworths 3750 29

Cinemas 6719 51

Harvey Norman 1500 11

Major Tenant Total 59158 451

BONDI JUNCTION NSW500 OXFORD STREET BONDI JUNCTION NSW 2022

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 12 - Link To Disclaimer

Link to Trade Area Map

237 63215 m2 $4748 m 3014NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 3014

Value

Acquisition Date 1992

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1966

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4748

Annual Sales Growth -02

Specialty Sales $11428 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $65

Population 240829 454817

Anchor Retailers

GLA

David Jones 14658 232

Target 5933 94

KMart 6121 97

Coles 3919 62

Woolworths 3625 57

Cinemas 5697 90

Major Tenant Total 39953 632

BURWOOD NSW100 BURWOOD ROAD BURWOOD NSW 2134

Westfield Burwood is centrally located within Sydneyrsquos Inner West approximately 12 kilometres from the CBD Strategically positioned within easy reach of Burwood Railway Station on the bustling commercial strip the centre caters to a trade area population in excess of 454000 residents

The Total Trade Area retail spend is estimated at $65 billion while the Main Trade Area spend estimated to be $35 billion

Westfield Burwoodrsquos spend per capita for the Main Trade Area is estimated at $14717 which is broadly in line with the Sydney Metro average ($14609)

The centrersquos catchment area has a diverse population with 49 of the Main Trade Area born outside Australia and 36 born in Asia A high proportion of workers are professionals or other white collar workers and there are pockets of high density living with nearly 49 of homes being flats units or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 13 - Link To Disclaimer

Link to Trade Area Map

411 136609 m2 $8933 m 5897NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Carindale Property Trust (50)

APPF (50)

Centre Manager Scentre Group

Site Area 158 ha

Car Park Spaces 5897

Value

Acquisition Date 1999

Fair Value ($ million) SCG Share $8136

Fair Value ($ million) $16272

Valuation Date Dec 17a

Retail Capitalisation Rate 525

Centre Opened 1979

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8963

Annual Sales Growth 09

Specialty Sales $11150 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $93

Population 270989 663470

Anchor Retailers

GLA

Myer 20840 153

David Jones 15246 112

BIG W 8527 63

Target 8020 59

Harvey Norman 4814 35

Coles 4167 31

Woolworths 3971 29

Cinemas 3805 28

Harris Scarfe 2589 19

Aldi 1672 12

Major Tenant Total 73651 540

CARINDALE QLD1151 CREEK ROAD CARINDALE QLD 4152

Scentre Group has 566 interest in CPT

Westfield Carindale is situated in an affluent quarter of Brisbanersquos South Eastern Suburbs approximately 12 kilometres from the Brisbane CBD The centre services a trade area population of approximately 663000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access

One of the cityrsquos leading retail destinations Carindale boasts a comprehensive fashion offer that includes Sas amp Bide Leona Edmiston and Chanel Beaute The adjoining Carindale Home amp Leisure Centre complements the retail mix with bulky goods retail

The total retail spend by the Westfield Carindale Total Trade Area in 2017 was estimated at $93 billion while the total retail spend by the Main Trade Area was estimated at $39 billion

The centrersquos total annual retail spend per capita is estimated at $14059 4 above the Brisbane Metro average ($13563) while the total annual retail spend per capita for the Main Trade Area is estimated to be $14548 which is 7 above the Brisbane Metro average ($13563)

Westfield Carindalersquos Main Trade Area had a high average household income in 2016 of $110814 per annum which is 11 above the Brisbane Metro average ($100034) Household composition is in line with the Brisbane Metro average with 29 being families with children under 15 years of age

In the Main Trade Area 78 of workers are professional or other white collar workers which is above the Brisbane Metro average of 70

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield Doncaster

Westfield Sydney

Westfield Newmarket

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 1 -

Portfolio Overview mdash

Scentre Grouprsquos (SCG) portfolio includes many of the largest and best shopping centres in Australia and New Zealand including 16 of the top 25 shopping centres in Australia by annual sales In addition over 80 of the Grouprsquos centres (by value) generated annual sales in excess of $500 million for the year ended 31 December 2017

Scentre Group has unrivalled access to potential customers with approximately 65 of the Australian population within a 30 minute drive of a Westfield shopping centre In 2017 approximately 530 million customers visited a Westfield shopping centre spending in excess of $23 billion

NUMBER OF CENTRES

BRISBANE

2WHOLLY

OWNED

3JOINTVENTURES

Australia34 Centres A$350 billion 1

New Zealand5 Centres NZ$13 billion 1

$59BN

SYDNEY

7WHOLLY

OWNED

7JOINTVENTURES

CANBERRA

1WHOLLY

OWNED

1JOINTVENTURE

MELBOURNE

1WHOLLY

OWNED

6JOINTVENTURES

ADELAIDE

3JOINT

VENTURES

PERTH

2WHOLLY

OWNED

1JOINTVENTURE

$17BN

5

14

27 5

33

5JOINT

VENTURES

All dollar values relate to SCG share only

$13BN

$13BN$54BN

$14BN

$186BN

PORTFOLIO BY GLA

NSW 39

[1 Pro forma post sale of four Australian assets settlement expected Q3 2015]

1 Includes construction in progress and assets held for redevelopment

VIC 20

QLD 15

SA 8

WA 6

ACT 5

NZ 7

NSW 52

VIC 15

QLD 15

SA 4

WA 6

ACT 4

NZ 4

PORTFOLIO BY ASSET VALUE (SCG SHARE)

Portfolio By Asset Value (SCG Share)

Portfolio by GLA

38

[1 Pro forma post sale of four Australian assets settlement expected Q3 2015]

20 16 8 6 5 6

53 15 17 4 5 4 3

NSW VIC QLD SA WA ACT NZ

NSW VIC QLD SA WA ACT NZ

As at 31 December 2017 Scentre Grouprsquos portfolio included 39 shopping centres spread across Australia and New Zealand with the Grouprsquos ownership interests valued at $354 billion

The map shows the location of Scentre Grouprsquos assets

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 2 -

Westfield Bondi Junction

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 3 -

Operating Performance

mdashScentre Grouprsquos portfolio has a long track record of delivering strong operating metrics and the portfolio has remained in excess of 99 leased for over 20 years

Combined Portfolio 2015 2016 2017

Total Annual Sales $223bn $227bn $231bn

Specialty Store Sales psm $10867 $11203 $11201

Comparable Specialty Store Sales Growth 55 26 10

Specialty Store Rent psm $1569 $1607 $1622

Comparable Net Property Income Growth 26 29 28

Scentre Grouprsquos leases are structured to provide predictable and sustainable income growth For the year ended 31 December 2017 99 of the rental income from the Grouprsquos portfolio was derived from contracted base rents and the remaining 1 of rental income was directly related to retailer sales

In addition the scale of the Grouprsquos portfolio provides a diversified revenue base that significantly reduced the exposure to any single shopping centre or retailer As at 31 December 2017 the highest valued retail shopping centre represented 14 of total asset value and the 10 highest valued retail shopping centres represented 58

For the year ended 31 December 2017 no single anchor retailer contributed more than 3 of rental income and no specialty store retailer contributed more than 2

Operating Performance of Scentre Grouprsquos Portfolio

mdash

Westfield Warringah Mall

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 4 -

Anchor RetailersScentre Group is the major landlord and an integral partner to major household retail brands such as David Jones Myer Farmers Target Kmart BIG W Coles Woolworths and Aldi Anchor retailers generally have lease terms of 20 to 25 years with stepped increases throughout the term that can be fixed linked to the consumer price index (CPI) or sales turnover based As of 31 December 2017 anchor retailers represented 53 of GLA and 16 of rental income

The following table outlines the anchor retailers in Scentre Grouprsquos portfolio as of 31 December 2017

Anchor Retailers No of Stores

GLA (000rsquos

sqm)

of Retail

GLA

Average Lease Term Remaining

(years)

Department Stores

Myer 22 3954 114 95

David Jones 16 2361 68 108

Farmers 4 322 09 63

Harris Scarfe 10 295 09 45

Sub Total 52 6932 200 96

Discount Department Stores

Target 32 2378 69 76

Kmart 24 1668 48 74

BIG W 18 1470 42 98

Sub Total 74 5516 159 81

Supermarkets

Coles 33 1282 37 85

Woolworths 30 1277 37 69

Aldi 17 255 07 53

Countdown 3 122 04 55

Pak N Save 1 63 02 65

New World 1 34 01 47

Spudshed 1 47 01 69

Sub Total 86 3080 90 73

Cinemas

Event Cinemas 16 955 28 73

Hoyts 9 457 13 74

Village Roadshow 5 329 09 82

Birch Carroll amp Coyle 2 144 04 75

Reading Cinemas 1 43 01 19

Sub Total 33 1928 56 74

Others

Toys R Us 10 278 08 19

Harvey Norman 5 216 06 27

Bunnings Warehouse 3 178 05 12

Dan Murphys 7 98 03 49

Kmart Garden 1 42 01 09

Sub Total 26 811 23 23

Grand Total 271 18267 528 82

SCENTRE GROUP PROPERTY COMPENDIUM 2016

- 4 -

Retailers and Lease Expiry Profile

Retailers No of Stores

GLA (000s

sqm)

of Retail

GLA

Super Retail Group 35 520 15

(Rebel Sport Rays Outdoors Supercheap Auto)

Cotton On Group 167 438 13

(Cotton On Cotton On Kids Cotton On Body Typo Rubi Shoes Factorie T-Bar Supre)

JB Hi Fi 32 374 11

(JB Hi Fi JB Hi Fi Home)

The Just Group 212 300 09

(Just Jeans Jay Jays Jacquie E Peter Alexander Portmans Dotti Smiggle)

Best amp Less 20 214 06

Country Road Group 81 196 06

(Country Road Trenery Witchery Mimco Politix)

BB Retail 147 176 05

(Lovisa Bras N Things Honey Birdette Adairs Adairs Kids Dusk)

Australian Pharmaceutical Industries 39 174 05

(Priceline Priceline Pharmacy Soul Pattinson Chemist)

ZARA 8 169 05

Specialty Fashion Group 98 160 05

(Millers Katies Autograph City Chic Crossroads Rivers)

Total 839 2722 79

Lease Expiry ProfileFor the year ended 31 December 2017 Scentre Group completed 2466 lease deals covering an aggregate of 345570 square metres Scentre Group has a 60 year weighted average unexpired lease term across the portfolio

00

50

100

150

200178

137

111116

111

60

4227

3529

80 73

99

5945

53

3728

Expiring

Total Portfolio Leased Area Specialty Store Retailers Leased Area

00

50

100

150

200

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Expiring 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

200

118 115

Other Retailers Specialty retailers generally have lease terms of 5 to 7 years and for larger stores 5 to 10 years Specialty store retailers generally have leases with annual contracted increases of CPI plus 2 For the year ended 31 December 2017 the 10 largest specialty store retailers represented 8 of GLA and contributed 10 of rental income

The following table outlines the 10 largest specialty store retailers as of 31 December 2017

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 5 -

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 6 -

At 31 December 2017 Ownership Interest

()

Carrying Amount

($m)

Retail Capitalisation

Rate

Total Annual Sales

($m)

Specialty Annual Sales

($psm)

Lettable Area (lsquo000s sqm)

Number of Tenants

Australia

Australian Capital Territory

Belconnen 1000 9350 550 5385 8683 964 282

Woden 500 3500 550 3620 9130 719 242

New South Wales

Bondi Junction 1000 31436 425 10943 15956 1312 477

Burwood 1000 10952 500 4748 11428 632 237

Chatswood 1000 13671 450 5924 11409 808 271

Hornsby 1000 10952 525 6568 8771 998 322

Hurstville 500 4375 525 5429 10555 621 258

Kotara2 1000 8150 575 4701 11087 742 259

Liverpool 500 5501 525 5004 9761 834 340

Miranda 500 12705 450 9494 12379 1285 456

Mt Druitt 500 3150 550 4121 8948 600 236

Parramatta 500 10343 475 8345 12215 1377 468

Penrith 500 7500 475 6761 12109 917 333

Sydney3 1000 50274 412 11839 22194 1660 337

Tuggerah 1000 7850 550 4798 9093 834 263

Warringah Mall 500 9300 500 7233 8837 1319 388

Queensland

Carindale4 500 8136 525 8963 11150 1366 411

Chermside1 1000 26150 450 9300 12833 1756 496

Garden City 1000 17050 475 7906 10422 1406 413

Helensvale 500 2375 575 3756 12416 449 188

North Lakes 500 4750 500 6508 10510 856 278

South Australia

Marion 500 7375 525 8367 11375 1371 332

Tea Tree Plaza2 500 4003 550 5027 11105 953 250

West Lakes2 500 2450 600 3778 9214 722 242

Victoria

Airport West 500 2135 575 3410 9205 523 171

Doncaster 500 12000 450 9374 14042 1222 429

Fountain Gate 1000 20900 450 10356 10242 1783 454

Geelong 500 2650 575 2743 8982 516 178

Knox 500 5765 550 6773 9332 1413 416

Plenty Valley2 500 2610 525 3518 8534 522 178

Southland 500 8075 500 8242 9369 1291 388

Western Australia

Carousel2 1000 10800 550 5020 10860 824 290

Stirling (Innaloo) 1000 3310 625 3296 8941 470 172

Whitford City1 500 3300 575 4477 7524 854 297

New Zealand (NZD)

Albany 510 3014 588 4077 13485 534 146

Manukau 510 1890 700 2809 11698 455 193

Newmarket 510 1418 663 1348 11688 313 109

Riccarton 510 3162 650 5313 14557 556 195

St Lukes 510 2652 625 3470 13125 398 177

Total Portfolio (AUD) 353874 4915 231501 11201 36174 11572

1 Developments completed during the year2 Properties currently under redevelopment3 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers As at 31 December 2017 the weighted average capitalisation

rate of Sydney was 432 comprising retail 412 (Sydney City 40 and Sydney Central Plaza 45) and office 495 4 50 interest in this shopping centre is consolidated and 217 (31 December 2016 235) is shown as non controlling interest In 2017 the Group

acquired additional securities in Carindale Property Trust (CPT) increasing the Grouprsquos interest in CPT to 566 (31 December 2016 530)5 Weighted average capitalisation rate including non-retail assets

Portfolio Details

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 7 -

Scentre Group

Property Profiles

Westfield Chatswood

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 8 - Link To Disclaimer

Link to Trade Area Map

171 52289 m2 $3410 2640NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Airport West is conveniently located just 10 minutes from Tullamarine Airport and caters to a trade area population of 323000 residents

High rates of home ownership and household incomes that are in line with the Melbourne metropolitan average are found in the Main Trade Area Family composition is broadly in line with the Melbourne average with 26 of households being families with children under 15 years

The Total Trade Area retail spend in 2017 was estimated to be $42 billion with the Main Trade Area spend estimated to be $14 billion with retail spend per capita ($14066) broadly in line with the Melbourne metro average ($14247) Average household incomes in the Main Trade Area as at the 2016 Census were $97194 per annum which was also broadly in line with the Melbourne metro average ($99752)

There is a high proportion of residents who own their own home or are paying off a mortgage and 26 of households in the Main Trade area are families with children under 15 years in line with the Melbourne Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 162 ha

Car Park Spaces 2640

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $2135

Fair Value ($ million) $4270

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1976

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3410

Annual Sales Growth 42

Specialty Sales $9205 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $14 $43

Population 98972 322892

Anchor Retailers

GLA

Harris Scarfe 2675 51

Target 7230 138

KMart 6918 132

Coles 4000 76

Woolworths 3661 70

Aldi 1489 28

Cinemas 2618 50

Major Tenant Total 28591 547

AIRPORT WEST VIC29-35 LOUIS STREET AIRPORT WEST VIC 3042

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 9 - Link To Disclaimer

Link to Trade Area Map

146 53395 m2 $4077 m 2373NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Albany is located north of the Waitemata Harbour approximately 15 kilometres northwest of the Auckland CBD in one of the cityrsquos newest suburbs The centre caters to a trade area population of 390090 residents and is the landmark retail destination in the area

The total retail spend in Westfield Albanyrsquos Total Trade Area in 2017 was estimated at $64 billion while the total retail spend in the Main Trade Area was estimated at $35 billion The total retail spend per capita for the Westfield Albany Main Trade Area was estimated at $16000 per annum in 2017 which is broadly in line with the Auckland Region average ($15866)

The average household income in the Main Trade Area in 2013 for Westfield Albany was $92848 per annum which is also broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 208 ha

Car Park Spaces 2373

Value

Acquisition Date 2007

Fair Value ($ million) SCG Share $3014

Fair Value ($ million) $5910

Valuation Date Dec 17

Retail Capitalisation Rate 588

Centre Opened 2007

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4077

Annual Sales Growth 25

Specialty Sales $13485 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $64

Population 218416 390442

Anchor Retailers

GLA

Farmers 9946 186

KMart 6742 126

New World 3387 63

Cinemas 6778 127

Major Tenant Total 26852 503

ALBANY NZ219 DON MCKINNON DRIVE AUCKLAND 0632 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 10 - Link To Disclaimer

Link to Trade Area Map

282 96401 m2 $5385 m 2880NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 83 ha

Car Park Spaces 2880

Value

Acquisition Date 1986

Fair Value ($ million) SCG Share $9350

Fair Value ($ million) $9350

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1978

Centre Redeveloped 2011

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5385

Annual Sales Growth -14

Specialty Sales $8683 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $78

Population 194658 448155

Anchor Retailers

GLA

Myer 17639 183

Harris Scarfe 2103 22

Target 6807 71

KMart 7654 79

Coles 4151 43

Woolworths 4820 50

Aldi 1525 16

Cinemas 4380 45

Toys R Us 3445 36

Dan Murphys 1328 14

Major Tenant Total 53852 559

BELCONNEN ACTBENJAMIN WAY BELCONNEN ACT 2617

Located in the northern suburbs of Canberra Westfield Belconnen was the largest shopping centre in the southern hemisphere when it opened in 1978 and is still one of Canberrarsquos biggest The centre is located 13 kilometres from the Canberra CBD and services a total trade area population of approximately 448000 residents

The centrersquos Total Trade Area retail spend was estimated at $78 billion in 2017 while the total retail spend for the Main Trade Area was estimated at $34 billion

The Main Trade Area was characterised at the 2016 Census by a high average household income of $116925 per annum 4 above the Sydney Metro average ($112106)

The total annual retail spend per capita in the Main Trade Area is estimated at $17072 17 above the Sydney Metro average ($14609)

There is a high concentration of professional workers in the centrersquos Main Trade Area owing to the abundance of sizeable commercial and government employers in the area 69 who own their own home or are paying off a mortgage while 32 of households are families with children under 15

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 11 - Link To Disclaimer

Link to Trade Area Map

477 131155 m2 $10943 m 3304NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Bondi Junction is one of Sydneyrsquos iconic retail destinations Situated in the heart of the Eastern Suburbs one of the cityrsquos most desirable areas the centre is only 6 kilometres from the Sydney CBD Servicing a trade area population in excess of 440000 the centre is one of the strongest performers in the Scentre Group portfolio with 2017 retail sales totalling $109 billion

The centre is defined by a premium retail offer that caters to its discerning style conscious clientele International luxury brands sit alongside local designers and some of the most coveted high street brands in the world The retail mix is complemented by a customer service offer that includes valet parking a styling suite lsquohandsfreersquo shopping and a concierge service

The centrersquos Total Trade Area spend was estimated at $78 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $38 billion

Average household income in 2016 in the Total Trade Area was $120703 per annum which is 8 higher than the Sydney Metro average ($112106) with a high retail spend per capita of $17694 per annum 21 above the Sydney Metro average ($14609)

The Total Trade Area includes large pockets of high density living with 63 of households being flats units or apartments Workers from the trade area skew towards managersprofessionals and there is also a higher proportion of younger residents aged between 25-39 years compared with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 28 ha

Car Park Spaces 3304

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $31436

Fair Value ($ million) $31436

Valuation Date Dec 17

Retail Capitalisation Rate 425

Centre Opened 1970

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10943

Annual Sales Growth 26

Specialty Sales $15956 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $74

Population 195755 441098

Anchor Retailers

GLA

Myer 17887 136

David Jones 19234 147

Target 5311 40

Coles 4758 36

Woolworths 3750 29

Cinemas 6719 51

Harvey Norman 1500 11

Major Tenant Total 59158 451

BONDI JUNCTION NSW500 OXFORD STREET BONDI JUNCTION NSW 2022

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 12 - Link To Disclaimer

Link to Trade Area Map

237 63215 m2 $4748 m 3014NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 3014

Value

Acquisition Date 1992

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1966

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4748

Annual Sales Growth -02

Specialty Sales $11428 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $65

Population 240829 454817

Anchor Retailers

GLA

David Jones 14658 232

Target 5933 94

KMart 6121 97

Coles 3919 62

Woolworths 3625 57

Cinemas 5697 90

Major Tenant Total 39953 632

BURWOOD NSW100 BURWOOD ROAD BURWOOD NSW 2134

Westfield Burwood is centrally located within Sydneyrsquos Inner West approximately 12 kilometres from the CBD Strategically positioned within easy reach of Burwood Railway Station on the bustling commercial strip the centre caters to a trade area population in excess of 454000 residents

The Total Trade Area retail spend is estimated at $65 billion while the Main Trade Area spend estimated to be $35 billion

Westfield Burwoodrsquos spend per capita for the Main Trade Area is estimated at $14717 which is broadly in line with the Sydney Metro average ($14609)

The centrersquos catchment area has a diverse population with 49 of the Main Trade Area born outside Australia and 36 born in Asia A high proportion of workers are professionals or other white collar workers and there are pockets of high density living with nearly 49 of homes being flats units or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 13 - Link To Disclaimer

Link to Trade Area Map

411 136609 m2 $8933 m 5897NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Carindale Property Trust (50)

APPF (50)

Centre Manager Scentre Group

Site Area 158 ha

Car Park Spaces 5897

Value

Acquisition Date 1999

Fair Value ($ million) SCG Share $8136

Fair Value ($ million) $16272

Valuation Date Dec 17a

Retail Capitalisation Rate 525

Centre Opened 1979

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8963

Annual Sales Growth 09

Specialty Sales $11150 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $93

Population 270989 663470

Anchor Retailers

GLA

Myer 20840 153

David Jones 15246 112

BIG W 8527 63

Target 8020 59

Harvey Norman 4814 35

Coles 4167 31

Woolworths 3971 29

Cinemas 3805 28

Harris Scarfe 2589 19

Aldi 1672 12

Major Tenant Total 73651 540

CARINDALE QLD1151 CREEK ROAD CARINDALE QLD 4152

Scentre Group has 566 interest in CPT

Westfield Carindale is situated in an affluent quarter of Brisbanersquos South Eastern Suburbs approximately 12 kilometres from the Brisbane CBD The centre services a trade area population of approximately 663000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access

One of the cityrsquos leading retail destinations Carindale boasts a comprehensive fashion offer that includes Sas amp Bide Leona Edmiston and Chanel Beaute The adjoining Carindale Home amp Leisure Centre complements the retail mix with bulky goods retail

The total retail spend by the Westfield Carindale Total Trade Area in 2017 was estimated at $93 billion while the total retail spend by the Main Trade Area was estimated at $39 billion

The centrersquos total annual retail spend per capita is estimated at $14059 4 above the Brisbane Metro average ($13563) while the total annual retail spend per capita for the Main Trade Area is estimated to be $14548 which is 7 above the Brisbane Metro average ($13563)

Westfield Carindalersquos Main Trade Area had a high average household income in 2016 of $110814 per annum which is 11 above the Brisbane Metro average ($100034) Household composition is in line with the Brisbane Metro average with 29 being families with children under 15 years of age

In the Main Trade Area 78 of workers are professional or other white collar workers which is above the Brisbane Metro average of 70

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

NUMBER OF CENTRES

BRISBANE

2WHOLLY

OWNED

3JOINTVENTURES

Australia34 Centres A$350 billion 1

New Zealand5 Centres NZ$13 billion 1

$59BN

SYDNEY

7WHOLLY

OWNED

7JOINTVENTURES

CANBERRA

1WHOLLY

OWNED

1JOINTVENTURE

MELBOURNE

1WHOLLY

OWNED

6JOINTVENTURES

ADELAIDE

3JOINT

VENTURES

PERTH

2WHOLLY

OWNED

1JOINTVENTURE

$17BN

5

14

27 5

33

5JOINT

VENTURES

All dollar values relate to SCG share only

$13BN

$13BN$54BN

$14BN

$186BN

PORTFOLIO BY GLA

NSW 39

[1 Pro forma post sale of four Australian assets settlement expected Q3 2015]

1 Includes construction in progress and assets held for redevelopment

VIC 20

QLD 15

SA 8

WA 6

ACT 5

NZ 7

NSW 52

VIC 15

QLD 15

SA 4

WA 6

ACT 4

NZ 4

PORTFOLIO BY ASSET VALUE (SCG SHARE)

Portfolio By Asset Value (SCG Share)

Portfolio by GLA

38

[1 Pro forma post sale of four Australian assets settlement expected Q3 2015]

20 16 8 6 5 6

53 15 17 4 5 4 3

NSW VIC QLD SA WA ACT NZ

NSW VIC QLD SA WA ACT NZ

As at 31 December 2017 Scentre Grouprsquos portfolio included 39 shopping centres spread across Australia and New Zealand with the Grouprsquos ownership interests valued at $354 billion

The map shows the location of Scentre Grouprsquos assets

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 2 -

Westfield Bondi Junction

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 3 -

Operating Performance

mdashScentre Grouprsquos portfolio has a long track record of delivering strong operating metrics and the portfolio has remained in excess of 99 leased for over 20 years

Combined Portfolio 2015 2016 2017

Total Annual Sales $223bn $227bn $231bn

Specialty Store Sales psm $10867 $11203 $11201

Comparable Specialty Store Sales Growth 55 26 10

Specialty Store Rent psm $1569 $1607 $1622

Comparable Net Property Income Growth 26 29 28

Scentre Grouprsquos leases are structured to provide predictable and sustainable income growth For the year ended 31 December 2017 99 of the rental income from the Grouprsquos portfolio was derived from contracted base rents and the remaining 1 of rental income was directly related to retailer sales

In addition the scale of the Grouprsquos portfolio provides a diversified revenue base that significantly reduced the exposure to any single shopping centre or retailer As at 31 December 2017 the highest valued retail shopping centre represented 14 of total asset value and the 10 highest valued retail shopping centres represented 58

For the year ended 31 December 2017 no single anchor retailer contributed more than 3 of rental income and no specialty store retailer contributed more than 2

Operating Performance of Scentre Grouprsquos Portfolio

mdash

Westfield Warringah Mall

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 4 -

Anchor RetailersScentre Group is the major landlord and an integral partner to major household retail brands such as David Jones Myer Farmers Target Kmart BIG W Coles Woolworths and Aldi Anchor retailers generally have lease terms of 20 to 25 years with stepped increases throughout the term that can be fixed linked to the consumer price index (CPI) or sales turnover based As of 31 December 2017 anchor retailers represented 53 of GLA and 16 of rental income

The following table outlines the anchor retailers in Scentre Grouprsquos portfolio as of 31 December 2017

Anchor Retailers No of Stores

GLA (000rsquos

sqm)

of Retail

GLA

Average Lease Term Remaining

(years)

Department Stores

Myer 22 3954 114 95

David Jones 16 2361 68 108

Farmers 4 322 09 63

Harris Scarfe 10 295 09 45

Sub Total 52 6932 200 96

Discount Department Stores

Target 32 2378 69 76

Kmart 24 1668 48 74

BIG W 18 1470 42 98

Sub Total 74 5516 159 81

Supermarkets

Coles 33 1282 37 85

Woolworths 30 1277 37 69

Aldi 17 255 07 53

Countdown 3 122 04 55

Pak N Save 1 63 02 65

New World 1 34 01 47

Spudshed 1 47 01 69

Sub Total 86 3080 90 73

Cinemas

Event Cinemas 16 955 28 73

Hoyts 9 457 13 74

Village Roadshow 5 329 09 82

Birch Carroll amp Coyle 2 144 04 75

Reading Cinemas 1 43 01 19

Sub Total 33 1928 56 74

Others

Toys R Us 10 278 08 19

Harvey Norman 5 216 06 27

Bunnings Warehouse 3 178 05 12

Dan Murphys 7 98 03 49

Kmart Garden 1 42 01 09

Sub Total 26 811 23 23

Grand Total 271 18267 528 82

SCENTRE GROUP PROPERTY COMPENDIUM 2016

- 4 -

Retailers and Lease Expiry Profile

Retailers No of Stores

GLA (000s

sqm)

of Retail

GLA

Super Retail Group 35 520 15

(Rebel Sport Rays Outdoors Supercheap Auto)

Cotton On Group 167 438 13

(Cotton On Cotton On Kids Cotton On Body Typo Rubi Shoes Factorie T-Bar Supre)

JB Hi Fi 32 374 11

(JB Hi Fi JB Hi Fi Home)

The Just Group 212 300 09

(Just Jeans Jay Jays Jacquie E Peter Alexander Portmans Dotti Smiggle)

Best amp Less 20 214 06

Country Road Group 81 196 06

(Country Road Trenery Witchery Mimco Politix)

BB Retail 147 176 05

(Lovisa Bras N Things Honey Birdette Adairs Adairs Kids Dusk)

Australian Pharmaceutical Industries 39 174 05

(Priceline Priceline Pharmacy Soul Pattinson Chemist)

ZARA 8 169 05

Specialty Fashion Group 98 160 05

(Millers Katies Autograph City Chic Crossroads Rivers)

Total 839 2722 79

Lease Expiry ProfileFor the year ended 31 December 2017 Scentre Group completed 2466 lease deals covering an aggregate of 345570 square metres Scentre Group has a 60 year weighted average unexpired lease term across the portfolio

00

50

100

150

200178

137

111116

111

60

4227

3529

80 73

99

5945

53

3728

Expiring

Total Portfolio Leased Area Specialty Store Retailers Leased Area

00

50

100

150

200

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Expiring 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

200

118 115

Other Retailers Specialty retailers generally have lease terms of 5 to 7 years and for larger stores 5 to 10 years Specialty store retailers generally have leases with annual contracted increases of CPI plus 2 For the year ended 31 December 2017 the 10 largest specialty store retailers represented 8 of GLA and contributed 10 of rental income

The following table outlines the 10 largest specialty store retailers as of 31 December 2017

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 5 -

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 6 -

At 31 December 2017 Ownership Interest

()

Carrying Amount

($m)

Retail Capitalisation

Rate

Total Annual Sales

($m)

Specialty Annual Sales

($psm)

Lettable Area (lsquo000s sqm)

Number of Tenants

Australia

Australian Capital Territory

Belconnen 1000 9350 550 5385 8683 964 282

Woden 500 3500 550 3620 9130 719 242

New South Wales

Bondi Junction 1000 31436 425 10943 15956 1312 477

Burwood 1000 10952 500 4748 11428 632 237

Chatswood 1000 13671 450 5924 11409 808 271

Hornsby 1000 10952 525 6568 8771 998 322

Hurstville 500 4375 525 5429 10555 621 258

Kotara2 1000 8150 575 4701 11087 742 259

Liverpool 500 5501 525 5004 9761 834 340

Miranda 500 12705 450 9494 12379 1285 456

Mt Druitt 500 3150 550 4121 8948 600 236

Parramatta 500 10343 475 8345 12215 1377 468

Penrith 500 7500 475 6761 12109 917 333

Sydney3 1000 50274 412 11839 22194 1660 337

Tuggerah 1000 7850 550 4798 9093 834 263

Warringah Mall 500 9300 500 7233 8837 1319 388

Queensland

Carindale4 500 8136 525 8963 11150 1366 411

Chermside1 1000 26150 450 9300 12833 1756 496

Garden City 1000 17050 475 7906 10422 1406 413

Helensvale 500 2375 575 3756 12416 449 188

North Lakes 500 4750 500 6508 10510 856 278

South Australia

Marion 500 7375 525 8367 11375 1371 332

Tea Tree Plaza2 500 4003 550 5027 11105 953 250

West Lakes2 500 2450 600 3778 9214 722 242

Victoria

Airport West 500 2135 575 3410 9205 523 171

Doncaster 500 12000 450 9374 14042 1222 429

Fountain Gate 1000 20900 450 10356 10242 1783 454

Geelong 500 2650 575 2743 8982 516 178

Knox 500 5765 550 6773 9332 1413 416

Plenty Valley2 500 2610 525 3518 8534 522 178

Southland 500 8075 500 8242 9369 1291 388

Western Australia

Carousel2 1000 10800 550 5020 10860 824 290

Stirling (Innaloo) 1000 3310 625 3296 8941 470 172

Whitford City1 500 3300 575 4477 7524 854 297

New Zealand (NZD)

Albany 510 3014 588 4077 13485 534 146

Manukau 510 1890 700 2809 11698 455 193

Newmarket 510 1418 663 1348 11688 313 109

Riccarton 510 3162 650 5313 14557 556 195

St Lukes 510 2652 625 3470 13125 398 177

Total Portfolio (AUD) 353874 4915 231501 11201 36174 11572

1 Developments completed during the year2 Properties currently under redevelopment3 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers As at 31 December 2017 the weighted average capitalisation

rate of Sydney was 432 comprising retail 412 (Sydney City 40 and Sydney Central Plaza 45) and office 495 4 50 interest in this shopping centre is consolidated and 217 (31 December 2016 235) is shown as non controlling interest In 2017 the Group

acquired additional securities in Carindale Property Trust (CPT) increasing the Grouprsquos interest in CPT to 566 (31 December 2016 530)5 Weighted average capitalisation rate including non-retail assets

Portfolio Details

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 7 -

Scentre Group

Property Profiles

Westfield Chatswood

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 8 - Link To Disclaimer

Link to Trade Area Map

171 52289 m2 $3410 2640NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Airport West is conveniently located just 10 minutes from Tullamarine Airport and caters to a trade area population of 323000 residents

High rates of home ownership and household incomes that are in line with the Melbourne metropolitan average are found in the Main Trade Area Family composition is broadly in line with the Melbourne average with 26 of households being families with children under 15 years

The Total Trade Area retail spend in 2017 was estimated to be $42 billion with the Main Trade Area spend estimated to be $14 billion with retail spend per capita ($14066) broadly in line with the Melbourne metro average ($14247) Average household incomes in the Main Trade Area as at the 2016 Census were $97194 per annum which was also broadly in line with the Melbourne metro average ($99752)

There is a high proportion of residents who own their own home or are paying off a mortgage and 26 of households in the Main Trade area are families with children under 15 years in line with the Melbourne Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 162 ha

Car Park Spaces 2640

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $2135

Fair Value ($ million) $4270

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1976

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3410

Annual Sales Growth 42

Specialty Sales $9205 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $14 $43

Population 98972 322892

Anchor Retailers

GLA

Harris Scarfe 2675 51

Target 7230 138

KMart 6918 132

Coles 4000 76

Woolworths 3661 70

Aldi 1489 28

Cinemas 2618 50

Major Tenant Total 28591 547

AIRPORT WEST VIC29-35 LOUIS STREET AIRPORT WEST VIC 3042

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 9 - Link To Disclaimer

Link to Trade Area Map

146 53395 m2 $4077 m 2373NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Albany is located north of the Waitemata Harbour approximately 15 kilometres northwest of the Auckland CBD in one of the cityrsquos newest suburbs The centre caters to a trade area population of 390090 residents and is the landmark retail destination in the area

The total retail spend in Westfield Albanyrsquos Total Trade Area in 2017 was estimated at $64 billion while the total retail spend in the Main Trade Area was estimated at $35 billion The total retail spend per capita for the Westfield Albany Main Trade Area was estimated at $16000 per annum in 2017 which is broadly in line with the Auckland Region average ($15866)

The average household income in the Main Trade Area in 2013 for Westfield Albany was $92848 per annum which is also broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 208 ha

Car Park Spaces 2373

Value

Acquisition Date 2007

Fair Value ($ million) SCG Share $3014

Fair Value ($ million) $5910

Valuation Date Dec 17

Retail Capitalisation Rate 588

Centre Opened 2007

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4077

Annual Sales Growth 25

Specialty Sales $13485 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $64

Population 218416 390442

Anchor Retailers

GLA

Farmers 9946 186

KMart 6742 126

New World 3387 63

Cinemas 6778 127

Major Tenant Total 26852 503

ALBANY NZ219 DON MCKINNON DRIVE AUCKLAND 0632 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 10 - Link To Disclaimer

Link to Trade Area Map

282 96401 m2 $5385 m 2880NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 83 ha

Car Park Spaces 2880

Value

Acquisition Date 1986

Fair Value ($ million) SCG Share $9350

Fair Value ($ million) $9350

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1978

Centre Redeveloped 2011

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5385

Annual Sales Growth -14

Specialty Sales $8683 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $78

Population 194658 448155

Anchor Retailers

GLA

Myer 17639 183

Harris Scarfe 2103 22

Target 6807 71

KMart 7654 79

Coles 4151 43

Woolworths 4820 50

Aldi 1525 16

Cinemas 4380 45

Toys R Us 3445 36

Dan Murphys 1328 14

Major Tenant Total 53852 559

BELCONNEN ACTBENJAMIN WAY BELCONNEN ACT 2617

Located in the northern suburbs of Canberra Westfield Belconnen was the largest shopping centre in the southern hemisphere when it opened in 1978 and is still one of Canberrarsquos biggest The centre is located 13 kilometres from the Canberra CBD and services a total trade area population of approximately 448000 residents

The centrersquos Total Trade Area retail spend was estimated at $78 billion in 2017 while the total retail spend for the Main Trade Area was estimated at $34 billion

The Main Trade Area was characterised at the 2016 Census by a high average household income of $116925 per annum 4 above the Sydney Metro average ($112106)

The total annual retail spend per capita in the Main Trade Area is estimated at $17072 17 above the Sydney Metro average ($14609)

There is a high concentration of professional workers in the centrersquos Main Trade Area owing to the abundance of sizeable commercial and government employers in the area 69 who own their own home or are paying off a mortgage while 32 of households are families with children under 15

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 11 - Link To Disclaimer

Link to Trade Area Map

477 131155 m2 $10943 m 3304NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Bondi Junction is one of Sydneyrsquos iconic retail destinations Situated in the heart of the Eastern Suburbs one of the cityrsquos most desirable areas the centre is only 6 kilometres from the Sydney CBD Servicing a trade area population in excess of 440000 the centre is one of the strongest performers in the Scentre Group portfolio with 2017 retail sales totalling $109 billion

The centre is defined by a premium retail offer that caters to its discerning style conscious clientele International luxury brands sit alongside local designers and some of the most coveted high street brands in the world The retail mix is complemented by a customer service offer that includes valet parking a styling suite lsquohandsfreersquo shopping and a concierge service

The centrersquos Total Trade Area spend was estimated at $78 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $38 billion

Average household income in 2016 in the Total Trade Area was $120703 per annum which is 8 higher than the Sydney Metro average ($112106) with a high retail spend per capita of $17694 per annum 21 above the Sydney Metro average ($14609)

The Total Trade Area includes large pockets of high density living with 63 of households being flats units or apartments Workers from the trade area skew towards managersprofessionals and there is also a higher proportion of younger residents aged between 25-39 years compared with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 28 ha

Car Park Spaces 3304

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $31436

Fair Value ($ million) $31436

Valuation Date Dec 17

Retail Capitalisation Rate 425

Centre Opened 1970

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10943

Annual Sales Growth 26

Specialty Sales $15956 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $74

Population 195755 441098

Anchor Retailers

GLA

Myer 17887 136

David Jones 19234 147

Target 5311 40

Coles 4758 36

Woolworths 3750 29

Cinemas 6719 51

Harvey Norman 1500 11

Major Tenant Total 59158 451

BONDI JUNCTION NSW500 OXFORD STREET BONDI JUNCTION NSW 2022

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 12 - Link To Disclaimer

Link to Trade Area Map

237 63215 m2 $4748 m 3014NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 3014

Value

Acquisition Date 1992

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1966

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4748

Annual Sales Growth -02

Specialty Sales $11428 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $65

Population 240829 454817

Anchor Retailers

GLA

David Jones 14658 232

Target 5933 94

KMart 6121 97

Coles 3919 62

Woolworths 3625 57

Cinemas 5697 90

Major Tenant Total 39953 632

BURWOOD NSW100 BURWOOD ROAD BURWOOD NSW 2134

Westfield Burwood is centrally located within Sydneyrsquos Inner West approximately 12 kilometres from the CBD Strategically positioned within easy reach of Burwood Railway Station on the bustling commercial strip the centre caters to a trade area population in excess of 454000 residents

The Total Trade Area retail spend is estimated at $65 billion while the Main Trade Area spend estimated to be $35 billion

Westfield Burwoodrsquos spend per capita for the Main Trade Area is estimated at $14717 which is broadly in line with the Sydney Metro average ($14609)

The centrersquos catchment area has a diverse population with 49 of the Main Trade Area born outside Australia and 36 born in Asia A high proportion of workers are professionals or other white collar workers and there are pockets of high density living with nearly 49 of homes being flats units or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 13 - Link To Disclaimer

Link to Trade Area Map

411 136609 m2 $8933 m 5897NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Carindale Property Trust (50)

APPF (50)

Centre Manager Scentre Group

Site Area 158 ha

Car Park Spaces 5897

Value

Acquisition Date 1999

Fair Value ($ million) SCG Share $8136

Fair Value ($ million) $16272

Valuation Date Dec 17a

Retail Capitalisation Rate 525

Centre Opened 1979

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8963

Annual Sales Growth 09

Specialty Sales $11150 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $93

Population 270989 663470

Anchor Retailers

GLA

Myer 20840 153

David Jones 15246 112

BIG W 8527 63

Target 8020 59

Harvey Norman 4814 35

Coles 4167 31

Woolworths 3971 29

Cinemas 3805 28

Harris Scarfe 2589 19

Aldi 1672 12

Major Tenant Total 73651 540

CARINDALE QLD1151 CREEK ROAD CARINDALE QLD 4152

Scentre Group has 566 interest in CPT

Westfield Carindale is situated in an affluent quarter of Brisbanersquos South Eastern Suburbs approximately 12 kilometres from the Brisbane CBD The centre services a trade area population of approximately 663000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access

One of the cityrsquos leading retail destinations Carindale boasts a comprehensive fashion offer that includes Sas amp Bide Leona Edmiston and Chanel Beaute The adjoining Carindale Home amp Leisure Centre complements the retail mix with bulky goods retail

The total retail spend by the Westfield Carindale Total Trade Area in 2017 was estimated at $93 billion while the total retail spend by the Main Trade Area was estimated at $39 billion

The centrersquos total annual retail spend per capita is estimated at $14059 4 above the Brisbane Metro average ($13563) while the total annual retail spend per capita for the Main Trade Area is estimated to be $14548 which is 7 above the Brisbane Metro average ($13563)

Westfield Carindalersquos Main Trade Area had a high average household income in 2016 of $110814 per annum which is 11 above the Brisbane Metro average ($100034) Household composition is in line with the Brisbane Metro average with 29 being families with children under 15 years of age

In the Main Trade Area 78 of workers are professional or other white collar workers which is above the Brisbane Metro average of 70

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 3 -

Operating Performance

mdashScentre Grouprsquos portfolio has a long track record of delivering strong operating metrics and the portfolio has remained in excess of 99 leased for over 20 years

Combined Portfolio 2015 2016 2017

Total Annual Sales $223bn $227bn $231bn

Specialty Store Sales psm $10867 $11203 $11201

Comparable Specialty Store Sales Growth 55 26 10

Specialty Store Rent psm $1569 $1607 $1622

Comparable Net Property Income Growth 26 29 28

Scentre Grouprsquos leases are structured to provide predictable and sustainable income growth For the year ended 31 December 2017 99 of the rental income from the Grouprsquos portfolio was derived from contracted base rents and the remaining 1 of rental income was directly related to retailer sales

In addition the scale of the Grouprsquos portfolio provides a diversified revenue base that significantly reduced the exposure to any single shopping centre or retailer As at 31 December 2017 the highest valued retail shopping centre represented 14 of total asset value and the 10 highest valued retail shopping centres represented 58

For the year ended 31 December 2017 no single anchor retailer contributed more than 3 of rental income and no specialty store retailer contributed more than 2

Operating Performance of Scentre Grouprsquos Portfolio

mdash

Westfield Warringah Mall

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 4 -

Anchor RetailersScentre Group is the major landlord and an integral partner to major household retail brands such as David Jones Myer Farmers Target Kmart BIG W Coles Woolworths and Aldi Anchor retailers generally have lease terms of 20 to 25 years with stepped increases throughout the term that can be fixed linked to the consumer price index (CPI) or sales turnover based As of 31 December 2017 anchor retailers represented 53 of GLA and 16 of rental income

The following table outlines the anchor retailers in Scentre Grouprsquos portfolio as of 31 December 2017

Anchor Retailers No of Stores

GLA (000rsquos

sqm)

of Retail

GLA

Average Lease Term Remaining

(years)

Department Stores

Myer 22 3954 114 95

David Jones 16 2361 68 108

Farmers 4 322 09 63

Harris Scarfe 10 295 09 45

Sub Total 52 6932 200 96

Discount Department Stores

Target 32 2378 69 76

Kmart 24 1668 48 74

BIG W 18 1470 42 98

Sub Total 74 5516 159 81

Supermarkets

Coles 33 1282 37 85

Woolworths 30 1277 37 69

Aldi 17 255 07 53

Countdown 3 122 04 55

Pak N Save 1 63 02 65

New World 1 34 01 47

Spudshed 1 47 01 69

Sub Total 86 3080 90 73

Cinemas

Event Cinemas 16 955 28 73

Hoyts 9 457 13 74

Village Roadshow 5 329 09 82

Birch Carroll amp Coyle 2 144 04 75

Reading Cinemas 1 43 01 19

Sub Total 33 1928 56 74

Others

Toys R Us 10 278 08 19

Harvey Norman 5 216 06 27

Bunnings Warehouse 3 178 05 12

Dan Murphys 7 98 03 49

Kmart Garden 1 42 01 09

Sub Total 26 811 23 23

Grand Total 271 18267 528 82

SCENTRE GROUP PROPERTY COMPENDIUM 2016

- 4 -

Retailers and Lease Expiry Profile

Retailers No of Stores

GLA (000s

sqm)

of Retail

GLA

Super Retail Group 35 520 15

(Rebel Sport Rays Outdoors Supercheap Auto)

Cotton On Group 167 438 13

(Cotton On Cotton On Kids Cotton On Body Typo Rubi Shoes Factorie T-Bar Supre)

JB Hi Fi 32 374 11

(JB Hi Fi JB Hi Fi Home)

The Just Group 212 300 09

(Just Jeans Jay Jays Jacquie E Peter Alexander Portmans Dotti Smiggle)

Best amp Less 20 214 06

Country Road Group 81 196 06

(Country Road Trenery Witchery Mimco Politix)

BB Retail 147 176 05

(Lovisa Bras N Things Honey Birdette Adairs Adairs Kids Dusk)

Australian Pharmaceutical Industries 39 174 05

(Priceline Priceline Pharmacy Soul Pattinson Chemist)

ZARA 8 169 05

Specialty Fashion Group 98 160 05

(Millers Katies Autograph City Chic Crossroads Rivers)

Total 839 2722 79

Lease Expiry ProfileFor the year ended 31 December 2017 Scentre Group completed 2466 lease deals covering an aggregate of 345570 square metres Scentre Group has a 60 year weighted average unexpired lease term across the portfolio

00

50

100

150

200178

137

111116

111

60

4227

3529

80 73

99

5945

53

3728

Expiring

Total Portfolio Leased Area Specialty Store Retailers Leased Area

00

50

100

150

200

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Expiring 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

200

118 115

Other Retailers Specialty retailers generally have lease terms of 5 to 7 years and for larger stores 5 to 10 years Specialty store retailers generally have leases with annual contracted increases of CPI plus 2 For the year ended 31 December 2017 the 10 largest specialty store retailers represented 8 of GLA and contributed 10 of rental income

The following table outlines the 10 largest specialty store retailers as of 31 December 2017

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 5 -

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 6 -

At 31 December 2017 Ownership Interest

()

Carrying Amount

($m)

Retail Capitalisation

Rate

Total Annual Sales

($m)

Specialty Annual Sales

($psm)

Lettable Area (lsquo000s sqm)

Number of Tenants

Australia

Australian Capital Territory

Belconnen 1000 9350 550 5385 8683 964 282

Woden 500 3500 550 3620 9130 719 242

New South Wales

Bondi Junction 1000 31436 425 10943 15956 1312 477

Burwood 1000 10952 500 4748 11428 632 237

Chatswood 1000 13671 450 5924 11409 808 271

Hornsby 1000 10952 525 6568 8771 998 322

Hurstville 500 4375 525 5429 10555 621 258

Kotara2 1000 8150 575 4701 11087 742 259

Liverpool 500 5501 525 5004 9761 834 340

Miranda 500 12705 450 9494 12379 1285 456

Mt Druitt 500 3150 550 4121 8948 600 236

Parramatta 500 10343 475 8345 12215 1377 468

Penrith 500 7500 475 6761 12109 917 333

Sydney3 1000 50274 412 11839 22194 1660 337

Tuggerah 1000 7850 550 4798 9093 834 263

Warringah Mall 500 9300 500 7233 8837 1319 388

Queensland

Carindale4 500 8136 525 8963 11150 1366 411

Chermside1 1000 26150 450 9300 12833 1756 496

Garden City 1000 17050 475 7906 10422 1406 413

Helensvale 500 2375 575 3756 12416 449 188

North Lakes 500 4750 500 6508 10510 856 278

South Australia

Marion 500 7375 525 8367 11375 1371 332

Tea Tree Plaza2 500 4003 550 5027 11105 953 250

West Lakes2 500 2450 600 3778 9214 722 242

Victoria

Airport West 500 2135 575 3410 9205 523 171

Doncaster 500 12000 450 9374 14042 1222 429

Fountain Gate 1000 20900 450 10356 10242 1783 454

Geelong 500 2650 575 2743 8982 516 178

Knox 500 5765 550 6773 9332 1413 416

Plenty Valley2 500 2610 525 3518 8534 522 178

Southland 500 8075 500 8242 9369 1291 388

Western Australia

Carousel2 1000 10800 550 5020 10860 824 290

Stirling (Innaloo) 1000 3310 625 3296 8941 470 172

Whitford City1 500 3300 575 4477 7524 854 297

New Zealand (NZD)

Albany 510 3014 588 4077 13485 534 146

Manukau 510 1890 700 2809 11698 455 193

Newmarket 510 1418 663 1348 11688 313 109

Riccarton 510 3162 650 5313 14557 556 195

St Lukes 510 2652 625 3470 13125 398 177

Total Portfolio (AUD) 353874 4915 231501 11201 36174 11572

1 Developments completed during the year2 Properties currently under redevelopment3 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers As at 31 December 2017 the weighted average capitalisation

rate of Sydney was 432 comprising retail 412 (Sydney City 40 and Sydney Central Plaza 45) and office 495 4 50 interest in this shopping centre is consolidated and 217 (31 December 2016 235) is shown as non controlling interest In 2017 the Group

acquired additional securities in Carindale Property Trust (CPT) increasing the Grouprsquos interest in CPT to 566 (31 December 2016 530)5 Weighted average capitalisation rate including non-retail assets

Portfolio Details

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 7 -

Scentre Group

Property Profiles

Westfield Chatswood

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 8 - Link To Disclaimer

Link to Trade Area Map

171 52289 m2 $3410 2640NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Airport West is conveniently located just 10 minutes from Tullamarine Airport and caters to a trade area population of 323000 residents

High rates of home ownership and household incomes that are in line with the Melbourne metropolitan average are found in the Main Trade Area Family composition is broadly in line with the Melbourne average with 26 of households being families with children under 15 years

The Total Trade Area retail spend in 2017 was estimated to be $42 billion with the Main Trade Area spend estimated to be $14 billion with retail spend per capita ($14066) broadly in line with the Melbourne metro average ($14247) Average household incomes in the Main Trade Area as at the 2016 Census were $97194 per annum which was also broadly in line with the Melbourne metro average ($99752)

There is a high proportion of residents who own their own home or are paying off a mortgage and 26 of households in the Main Trade area are families with children under 15 years in line with the Melbourne Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 162 ha

Car Park Spaces 2640

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $2135

Fair Value ($ million) $4270

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1976

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3410

Annual Sales Growth 42

Specialty Sales $9205 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $14 $43

Population 98972 322892

Anchor Retailers

GLA

Harris Scarfe 2675 51

Target 7230 138

KMart 6918 132

Coles 4000 76

Woolworths 3661 70

Aldi 1489 28

Cinemas 2618 50

Major Tenant Total 28591 547

AIRPORT WEST VIC29-35 LOUIS STREET AIRPORT WEST VIC 3042

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 9 - Link To Disclaimer

Link to Trade Area Map

146 53395 m2 $4077 m 2373NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Albany is located north of the Waitemata Harbour approximately 15 kilometres northwest of the Auckland CBD in one of the cityrsquos newest suburbs The centre caters to a trade area population of 390090 residents and is the landmark retail destination in the area

The total retail spend in Westfield Albanyrsquos Total Trade Area in 2017 was estimated at $64 billion while the total retail spend in the Main Trade Area was estimated at $35 billion The total retail spend per capita for the Westfield Albany Main Trade Area was estimated at $16000 per annum in 2017 which is broadly in line with the Auckland Region average ($15866)

The average household income in the Main Trade Area in 2013 for Westfield Albany was $92848 per annum which is also broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 208 ha

Car Park Spaces 2373

Value

Acquisition Date 2007

Fair Value ($ million) SCG Share $3014

Fair Value ($ million) $5910

Valuation Date Dec 17

Retail Capitalisation Rate 588

Centre Opened 2007

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4077

Annual Sales Growth 25

Specialty Sales $13485 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $64

Population 218416 390442

Anchor Retailers

GLA

Farmers 9946 186

KMart 6742 126

New World 3387 63

Cinemas 6778 127

Major Tenant Total 26852 503

ALBANY NZ219 DON MCKINNON DRIVE AUCKLAND 0632 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 10 - Link To Disclaimer

Link to Trade Area Map

282 96401 m2 $5385 m 2880NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 83 ha

Car Park Spaces 2880

Value

Acquisition Date 1986

Fair Value ($ million) SCG Share $9350

Fair Value ($ million) $9350

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1978

Centre Redeveloped 2011

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5385

Annual Sales Growth -14

Specialty Sales $8683 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $78

Population 194658 448155

Anchor Retailers

GLA

Myer 17639 183

Harris Scarfe 2103 22

Target 6807 71

KMart 7654 79

Coles 4151 43

Woolworths 4820 50

Aldi 1525 16

Cinemas 4380 45

Toys R Us 3445 36

Dan Murphys 1328 14

Major Tenant Total 53852 559

BELCONNEN ACTBENJAMIN WAY BELCONNEN ACT 2617

Located in the northern suburbs of Canberra Westfield Belconnen was the largest shopping centre in the southern hemisphere when it opened in 1978 and is still one of Canberrarsquos biggest The centre is located 13 kilometres from the Canberra CBD and services a total trade area population of approximately 448000 residents

The centrersquos Total Trade Area retail spend was estimated at $78 billion in 2017 while the total retail spend for the Main Trade Area was estimated at $34 billion

The Main Trade Area was characterised at the 2016 Census by a high average household income of $116925 per annum 4 above the Sydney Metro average ($112106)

The total annual retail spend per capita in the Main Trade Area is estimated at $17072 17 above the Sydney Metro average ($14609)

There is a high concentration of professional workers in the centrersquos Main Trade Area owing to the abundance of sizeable commercial and government employers in the area 69 who own their own home or are paying off a mortgage while 32 of households are families with children under 15

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 11 - Link To Disclaimer

Link to Trade Area Map

477 131155 m2 $10943 m 3304NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Bondi Junction is one of Sydneyrsquos iconic retail destinations Situated in the heart of the Eastern Suburbs one of the cityrsquos most desirable areas the centre is only 6 kilometres from the Sydney CBD Servicing a trade area population in excess of 440000 the centre is one of the strongest performers in the Scentre Group portfolio with 2017 retail sales totalling $109 billion

The centre is defined by a premium retail offer that caters to its discerning style conscious clientele International luxury brands sit alongside local designers and some of the most coveted high street brands in the world The retail mix is complemented by a customer service offer that includes valet parking a styling suite lsquohandsfreersquo shopping and a concierge service

The centrersquos Total Trade Area spend was estimated at $78 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $38 billion

Average household income in 2016 in the Total Trade Area was $120703 per annum which is 8 higher than the Sydney Metro average ($112106) with a high retail spend per capita of $17694 per annum 21 above the Sydney Metro average ($14609)

The Total Trade Area includes large pockets of high density living with 63 of households being flats units or apartments Workers from the trade area skew towards managersprofessionals and there is also a higher proportion of younger residents aged between 25-39 years compared with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 28 ha

Car Park Spaces 3304

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $31436

Fair Value ($ million) $31436

Valuation Date Dec 17

Retail Capitalisation Rate 425

Centre Opened 1970

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10943

Annual Sales Growth 26

Specialty Sales $15956 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $74

Population 195755 441098

Anchor Retailers

GLA

Myer 17887 136

David Jones 19234 147

Target 5311 40

Coles 4758 36

Woolworths 3750 29

Cinemas 6719 51

Harvey Norman 1500 11

Major Tenant Total 59158 451

BONDI JUNCTION NSW500 OXFORD STREET BONDI JUNCTION NSW 2022

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 12 - Link To Disclaimer

Link to Trade Area Map

237 63215 m2 $4748 m 3014NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 3014

Value

Acquisition Date 1992

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1966

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4748

Annual Sales Growth -02

Specialty Sales $11428 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $65

Population 240829 454817

Anchor Retailers

GLA

David Jones 14658 232

Target 5933 94

KMart 6121 97

Coles 3919 62

Woolworths 3625 57

Cinemas 5697 90

Major Tenant Total 39953 632

BURWOOD NSW100 BURWOOD ROAD BURWOOD NSW 2134

Westfield Burwood is centrally located within Sydneyrsquos Inner West approximately 12 kilometres from the CBD Strategically positioned within easy reach of Burwood Railway Station on the bustling commercial strip the centre caters to a trade area population in excess of 454000 residents

The Total Trade Area retail spend is estimated at $65 billion while the Main Trade Area spend estimated to be $35 billion

Westfield Burwoodrsquos spend per capita for the Main Trade Area is estimated at $14717 which is broadly in line with the Sydney Metro average ($14609)

The centrersquos catchment area has a diverse population with 49 of the Main Trade Area born outside Australia and 36 born in Asia A high proportion of workers are professionals or other white collar workers and there are pockets of high density living with nearly 49 of homes being flats units or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 13 - Link To Disclaimer

Link to Trade Area Map

411 136609 m2 $8933 m 5897NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Carindale Property Trust (50)

APPF (50)

Centre Manager Scentre Group

Site Area 158 ha

Car Park Spaces 5897

Value

Acquisition Date 1999

Fair Value ($ million) SCG Share $8136

Fair Value ($ million) $16272

Valuation Date Dec 17a

Retail Capitalisation Rate 525

Centre Opened 1979

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8963

Annual Sales Growth 09

Specialty Sales $11150 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $93

Population 270989 663470

Anchor Retailers

GLA

Myer 20840 153

David Jones 15246 112

BIG W 8527 63

Target 8020 59

Harvey Norman 4814 35

Coles 4167 31

Woolworths 3971 29

Cinemas 3805 28

Harris Scarfe 2589 19

Aldi 1672 12

Major Tenant Total 73651 540

CARINDALE QLD1151 CREEK ROAD CARINDALE QLD 4152

Scentre Group has 566 interest in CPT

Westfield Carindale is situated in an affluent quarter of Brisbanersquos South Eastern Suburbs approximately 12 kilometres from the Brisbane CBD The centre services a trade area population of approximately 663000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access

One of the cityrsquos leading retail destinations Carindale boasts a comprehensive fashion offer that includes Sas amp Bide Leona Edmiston and Chanel Beaute The adjoining Carindale Home amp Leisure Centre complements the retail mix with bulky goods retail

The total retail spend by the Westfield Carindale Total Trade Area in 2017 was estimated at $93 billion while the total retail spend by the Main Trade Area was estimated at $39 billion

The centrersquos total annual retail spend per capita is estimated at $14059 4 above the Brisbane Metro average ($13563) while the total annual retail spend per capita for the Main Trade Area is estimated to be $14548 which is 7 above the Brisbane Metro average ($13563)

Westfield Carindalersquos Main Trade Area had a high average household income in 2016 of $110814 per annum which is 11 above the Brisbane Metro average ($100034) Household composition is in line with the Brisbane Metro average with 29 being families with children under 15 years of age

In the Main Trade Area 78 of workers are professional or other white collar workers which is above the Brisbane Metro average of 70

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 4 -

Anchor RetailersScentre Group is the major landlord and an integral partner to major household retail brands such as David Jones Myer Farmers Target Kmart BIG W Coles Woolworths and Aldi Anchor retailers generally have lease terms of 20 to 25 years with stepped increases throughout the term that can be fixed linked to the consumer price index (CPI) or sales turnover based As of 31 December 2017 anchor retailers represented 53 of GLA and 16 of rental income

The following table outlines the anchor retailers in Scentre Grouprsquos portfolio as of 31 December 2017

Anchor Retailers No of Stores

GLA (000rsquos

sqm)

of Retail

GLA

Average Lease Term Remaining

(years)

Department Stores

Myer 22 3954 114 95

David Jones 16 2361 68 108

Farmers 4 322 09 63

Harris Scarfe 10 295 09 45

Sub Total 52 6932 200 96

Discount Department Stores

Target 32 2378 69 76

Kmart 24 1668 48 74

BIG W 18 1470 42 98

Sub Total 74 5516 159 81

Supermarkets

Coles 33 1282 37 85

Woolworths 30 1277 37 69

Aldi 17 255 07 53

Countdown 3 122 04 55

Pak N Save 1 63 02 65

New World 1 34 01 47

Spudshed 1 47 01 69

Sub Total 86 3080 90 73

Cinemas

Event Cinemas 16 955 28 73

Hoyts 9 457 13 74

Village Roadshow 5 329 09 82

Birch Carroll amp Coyle 2 144 04 75

Reading Cinemas 1 43 01 19

Sub Total 33 1928 56 74

Others

Toys R Us 10 278 08 19

Harvey Norman 5 216 06 27

Bunnings Warehouse 3 178 05 12

Dan Murphys 7 98 03 49

Kmart Garden 1 42 01 09

Sub Total 26 811 23 23

Grand Total 271 18267 528 82

SCENTRE GROUP PROPERTY COMPENDIUM 2016

- 4 -

Retailers and Lease Expiry Profile

Retailers No of Stores

GLA (000s

sqm)

of Retail

GLA

Super Retail Group 35 520 15

(Rebel Sport Rays Outdoors Supercheap Auto)

Cotton On Group 167 438 13

(Cotton On Cotton On Kids Cotton On Body Typo Rubi Shoes Factorie T-Bar Supre)

JB Hi Fi 32 374 11

(JB Hi Fi JB Hi Fi Home)

The Just Group 212 300 09

(Just Jeans Jay Jays Jacquie E Peter Alexander Portmans Dotti Smiggle)

Best amp Less 20 214 06

Country Road Group 81 196 06

(Country Road Trenery Witchery Mimco Politix)

BB Retail 147 176 05

(Lovisa Bras N Things Honey Birdette Adairs Adairs Kids Dusk)

Australian Pharmaceutical Industries 39 174 05

(Priceline Priceline Pharmacy Soul Pattinson Chemist)

ZARA 8 169 05

Specialty Fashion Group 98 160 05

(Millers Katies Autograph City Chic Crossroads Rivers)

Total 839 2722 79

Lease Expiry ProfileFor the year ended 31 December 2017 Scentre Group completed 2466 lease deals covering an aggregate of 345570 square metres Scentre Group has a 60 year weighted average unexpired lease term across the portfolio

00

50

100

150

200178

137

111116

111

60

4227

3529

80 73

99

5945

53

3728

Expiring

Total Portfolio Leased Area Specialty Store Retailers Leased Area

00

50

100

150

200

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Expiring 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

200

118 115

Other Retailers Specialty retailers generally have lease terms of 5 to 7 years and for larger stores 5 to 10 years Specialty store retailers generally have leases with annual contracted increases of CPI plus 2 For the year ended 31 December 2017 the 10 largest specialty store retailers represented 8 of GLA and contributed 10 of rental income

The following table outlines the 10 largest specialty store retailers as of 31 December 2017

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 5 -

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 6 -

At 31 December 2017 Ownership Interest

()

Carrying Amount

($m)

Retail Capitalisation

Rate

Total Annual Sales

($m)

Specialty Annual Sales

($psm)

Lettable Area (lsquo000s sqm)

Number of Tenants

Australia

Australian Capital Territory

Belconnen 1000 9350 550 5385 8683 964 282

Woden 500 3500 550 3620 9130 719 242

New South Wales

Bondi Junction 1000 31436 425 10943 15956 1312 477

Burwood 1000 10952 500 4748 11428 632 237

Chatswood 1000 13671 450 5924 11409 808 271

Hornsby 1000 10952 525 6568 8771 998 322

Hurstville 500 4375 525 5429 10555 621 258

Kotara2 1000 8150 575 4701 11087 742 259

Liverpool 500 5501 525 5004 9761 834 340

Miranda 500 12705 450 9494 12379 1285 456

Mt Druitt 500 3150 550 4121 8948 600 236

Parramatta 500 10343 475 8345 12215 1377 468

Penrith 500 7500 475 6761 12109 917 333

Sydney3 1000 50274 412 11839 22194 1660 337

Tuggerah 1000 7850 550 4798 9093 834 263

Warringah Mall 500 9300 500 7233 8837 1319 388

Queensland

Carindale4 500 8136 525 8963 11150 1366 411

Chermside1 1000 26150 450 9300 12833 1756 496

Garden City 1000 17050 475 7906 10422 1406 413

Helensvale 500 2375 575 3756 12416 449 188

North Lakes 500 4750 500 6508 10510 856 278

South Australia

Marion 500 7375 525 8367 11375 1371 332

Tea Tree Plaza2 500 4003 550 5027 11105 953 250

West Lakes2 500 2450 600 3778 9214 722 242

Victoria

Airport West 500 2135 575 3410 9205 523 171

Doncaster 500 12000 450 9374 14042 1222 429

Fountain Gate 1000 20900 450 10356 10242 1783 454

Geelong 500 2650 575 2743 8982 516 178

Knox 500 5765 550 6773 9332 1413 416

Plenty Valley2 500 2610 525 3518 8534 522 178

Southland 500 8075 500 8242 9369 1291 388

Western Australia

Carousel2 1000 10800 550 5020 10860 824 290

Stirling (Innaloo) 1000 3310 625 3296 8941 470 172

Whitford City1 500 3300 575 4477 7524 854 297

New Zealand (NZD)

Albany 510 3014 588 4077 13485 534 146

Manukau 510 1890 700 2809 11698 455 193

Newmarket 510 1418 663 1348 11688 313 109

Riccarton 510 3162 650 5313 14557 556 195

St Lukes 510 2652 625 3470 13125 398 177

Total Portfolio (AUD) 353874 4915 231501 11201 36174 11572

1 Developments completed during the year2 Properties currently under redevelopment3 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers As at 31 December 2017 the weighted average capitalisation

rate of Sydney was 432 comprising retail 412 (Sydney City 40 and Sydney Central Plaza 45) and office 495 4 50 interest in this shopping centre is consolidated and 217 (31 December 2016 235) is shown as non controlling interest In 2017 the Group

acquired additional securities in Carindale Property Trust (CPT) increasing the Grouprsquos interest in CPT to 566 (31 December 2016 530)5 Weighted average capitalisation rate including non-retail assets

Portfolio Details

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 7 -

Scentre Group

Property Profiles

Westfield Chatswood

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 8 - Link To Disclaimer

Link to Trade Area Map

171 52289 m2 $3410 2640NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Airport West is conveniently located just 10 minutes from Tullamarine Airport and caters to a trade area population of 323000 residents

High rates of home ownership and household incomes that are in line with the Melbourne metropolitan average are found in the Main Trade Area Family composition is broadly in line with the Melbourne average with 26 of households being families with children under 15 years

The Total Trade Area retail spend in 2017 was estimated to be $42 billion with the Main Trade Area spend estimated to be $14 billion with retail spend per capita ($14066) broadly in line with the Melbourne metro average ($14247) Average household incomes in the Main Trade Area as at the 2016 Census were $97194 per annum which was also broadly in line with the Melbourne metro average ($99752)

There is a high proportion of residents who own their own home or are paying off a mortgage and 26 of households in the Main Trade area are families with children under 15 years in line with the Melbourne Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 162 ha

Car Park Spaces 2640

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $2135

Fair Value ($ million) $4270

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1976

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3410

Annual Sales Growth 42

Specialty Sales $9205 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $14 $43

Population 98972 322892

Anchor Retailers

GLA

Harris Scarfe 2675 51

Target 7230 138

KMart 6918 132

Coles 4000 76

Woolworths 3661 70

Aldi 1489 28

Cinemas 2618 50

Major Tenant Total 28591 547

AIRPORT WEST VIC29-35 LOUIS STREET AIRPORT WEST VIC 3042

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 9 - Link To Disclaimer

Link to Trade Area Map

146 53395 m2 $4077 m 2373NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Albany is located north of the Waitemata Harbour approximately 15 kilometres northwest of the Auckland CBD in one of the cityrsquos newest suburbs The centre caters to a trade area population of 390090 residents and is the landmark retail destination in the area

The total retail spend in Westfield Albanyrsquos Total Trade Area in 2017 was estimated at $64 billion while the total retail spend in the Main Trade Area was estimated at $35 billion The total retail spend per capita for the Westfield Albany Main Trade Area was estimated at $16000 per annum in 2017 which is broadly in line with the Auckland Region average ($15866)

The average household income in the Main Trade Area in 2013 for Westfield Albany was $92848 per annum which is also broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 208 ha

Car Park Spaces 2373

Value

Acquisition Date 2007

Fair Value ($ million) SCG Share $3014

Fair Value ($ million) $5910

Valuation Date Dec 17

Retail Capitalisation Rate 588

Centre Opened 2007

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4077

Annual Sales Growth 25

Specialty Sales $13485 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $64

Population 218416 390442

Anchor Retailers

GLA

Farmers 9946 186

KMart 6742 126

New World 3387 63

Cinemas 6778 127

Major Tenant Total 26852 503

ALBANY NZ219 DON MCKINNON DRIVE AUCKLAND 0632 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 10 - Link To Disclaimer

Link to Trade Area Map

282 96401 m2 $5385 m 2880NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 83 ha

Car Park Spaces 2880

Value

Acquisition Date 1986

Fair Value ($ million) SCG Share $9350

Fair Value ($ million) $9350

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1978

Centre Redeveloped 2011

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5385

Annual Sales Growth -14

Specialty Sales $8683 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $78

Population 194658 448155

Anchor Retailers

GLA

Myer 17639 183

Harris Scarfe 2103 22

Target 6807 71

KMart 7654 79

Coles 4151 43

Woolworths 4820 50

Aldi 1525 16

Cinemas 4380 45

Toys R Us 3445 36

Dan Murphys 1328 14

Major Tenant Total 53852 559

BELCONNEN ACTBENJAMIN WAY BELCONNEN ACT 2617

Located in the northern suburbs of Canberra Westfield Belconnen was the largest shopping centre in the southern hemisphere when it opened in 1978 and is still one of Canberrarsquos biggest The centre is located 13 kilometres from the Canberra CBD and services a total trade area population of approximately 448000 residents

The centrersquos Total Trade Area retail spend was estimated at $78 billion in 2017 while the total retail spend for the Main Trade Area was estimated at $34 billion

The Main Trade Area was characterised at the 2016 Census by a high average household income of $116925 per annum 4 above the Sydney Metro average ($112106)

The total annual retail spend per capita in the Main Trade Area is estimated at $17072 17 above the Sydney Metro average ($14609)

There is a high concentration of professional workers in the centrersquos Main Trade Area owing to the abundance of sizeable commercial and government employers in the area 69 who own their own home or are paying off a mortgage while 32 of households are families with children under 15

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 11 - Link To Disclaimer

Link to Trade Area Map

477 131155 m2 $10943 m 3304NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Bondi Junction is one of Sydneyrsquos iconic retail destinations Situated in the heart of the Eastern Suburbs one of the cityrsquos most desirable areas the centre is only 6 kilometres from the Sydney CBD Servicing a trade area population in excess of 440000 the centre is one of the strongest performers in the Scentre Group portfolio with 2017 retail sales totalling $109 billion

The centre is defined by a premium retail offer that caters to its discerning style conscious clientele International luxury brands sit alongside local designers and some of the most coveted high street brands in the world The retail mix is complemented by a customer service offer that includes valet parking a styling suite lsquohandsfreersquo shopping and a concierge service

The centrersquos Total Trade Area spend was estimated at $78 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $38 billion

Average household income in 2016 in the Total Trade Area was $120703 per annum which is 8 higher than the Sydney Metro average ($112106) with a high retail spend per capita of $17694 per annum 21 above the Sydney Metro average ($14609)

The Total Trade Area includes large pockets of high density living with 63 of households being flats units or apartments Workers from the trade area skew towards managersprofessionals and there is also a higher proportion of younger residents aged between 25-39 years compared with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 28 ha

Car Park Spaces 3304

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $31436

Fair Value ($ million) $31436

Valuation Date Dec 17

Retail Capitalisation Rate 425

Centre Opened 1970

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10943

Annual Sales Growth 26

Specialty Sales $15956 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $74

Population 195755 441098

Anchor Retailers

GLA

Myer 17887 136

David Jones 19234 147

Target 5311 40

Coles 4758 36

Woolworths 3750 29

Cinemas 6719 51

Harvey Norman 1500 11

Major Tenant Total 59158 451

BONDI JUNCTION NSW500 OXFORD STREET BONDI JUNCTION NSW 2022

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 12 - Link To Disclaimer

Link to Trade Area Map

237 63215 m2 $4748 m 3014NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 3014

Value

Acquisition Date 1992

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1966

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4748

Annual Sales Growth -02

Specialty Sales $11428 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $65

Population 240829 454817

Anchor Retailers

GLA

David Jones 14658 232

Target 5933 94

KMart 6121 97

Coles 3919 62

Woolworths 3625 57

Cinemas 5697 90

Major Tenant Total 39953 632

BURWOOD NSW100 BURWOOD ROAD BURWOOD NSW 2134

Westfield Burwood is centrally located within Sydneyrsquos Inner West approximately 12 kilometres from the CBD Strategically positioned within easy reach of Burwood Railway Station on the bustling commercial strip the centre caters to a trade area population in excess of 454000 residents

The Total Trade Area retail spend is estimated at $65 billion while the Main Trade Area spend estimated to be $35 billion

Westfield Burwoodrsquos spend per capita for the Main Trade Area is estimated at $14717 which is broadly in line with the Sydney Metro average ($14609)

The centrersquos catchment area has a diverse population with 49 of the Main Trade Area born outside Australia and 36 born in Asia A high proportion of workers are professionals or other white collar workers and there are pockets of high density living with nearly 49 of homes being flats units or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 13 - Link To Disclaimer

Link to Trade Area Map

411 136609 m2 $8933 m 5897NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Carindale Property Trust (50)

APPF (50)

Centre Manager Scentre Group

Site Area 158 ha

Car Park Spaces 5897

Value

Acquisition Date 1999

Fair Value ($ million) SCG Share $8136

Fair Value ($ million) $16272

Valuation Date Dec 17a

Retail Capitalisation Rate 525

Centre Opened 1979

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8963

Annual Sales Growth 09

Specialty Sales $11150 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $93

Population 270989 663470

Anchor Retailers

GLA

Myer 20840 153

David Jones 15246 112

BIG W 8527 63

Target 8020 59

Harvey Norman 4814 35

Coles 4167 31

Woolworths 3971 29

Cinemas 3805 28

Harris Scarfe 2589 19

Aldi 1672 12

Major Tenant Total 73651 540

CARINDALE QLD1151 CREEK ROAD CARINDALE QLD 4152

Scentre Group has 566 interest in CPT

Westfield Carindale is situated in an affluent quarter of Brisbanersquos South Eastern Suburbs approximately 12 kilometres from the Brisbane CBD The centre services a trade area population of approximately 663000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access

One of the cityrsquos leading retail destinations Carindale boasts a comprehensive fashion offer that includes Sas amp Bide Leona Edmiston and Chanel Beaute The adjoining Carindale Home amp Leisure Centre complements the retail mix with bulky goods retail

The total retail spend by the Westfield Carindale Total Trade Area in 2017 was estimated at $93 billion while the total retail spend by the Main Trade Area was estimated at $39 billion

The centrersquos total annual retail spend per capita is estimated at $14059 4 above the Brisbane Metro average ($13563) while the total annual retail spend per capita for the Main Trade Area is estimated to be $14548 which is 7 above the Brisbane Metro average ($13563)

Westfield Carindalersquos Main Trade Area had a high average household income in 2016 of $110814 per annum which is 11 above the Brisbane Metro average ($100034) Household composition is in line with the Brisbane Metro average with 29 being families with children under 15 years of age

In the Main Trade Area 78 of workers are professional or other white collar workers which is above the Brisbane Metro average of 70

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Retailers No of Stores

GLA (000s

sqm)

of Retail

GLA

Super Retail Group 35 520 15

(Rebel Sport Rays Outdoors Supercheap Auto)

Cotton On Group 167 438 13

(Cotton On Cotton On Kids Cotton On Body Typo Rubi Shoes Factorie T-Bar Supre)

JB Hi Fi 32 374 11

(JB Hi Fi JB Hi Fi Home)

The Just Group 212 300 09

(Just Jeans Jay Jays Jacquie E Peter Alexander Portmans Dotti Smiggle)

Best amp Less 20 214 06

Country Road Group 81 196 06

(Country Road Trenery Witchery Mimco Politix)

BB Retail 147 176 05

(Lovisa Bras N Things Honey Birdette Adairs Adairs Kids Dusk)

Australian Pharmaceutical Industries 39 174 05

(Priceline Priceline Pharmacy Soul Pattinson Chemist)

ZARA 8 169 05

Specialty Fashion Group 98 160 05

(Millers Katies Autograph City Chic Crossroads Rivers)

Total 839 2722 79

Lease Expiry ProfileFor the year ended 31 December 2017 Scentre Group completed 2466 lease deals covering an aggregate of 345570 square metres Scentre Group has a 60 year weighted average unexpired lease term across the portfolio

00

50

100

150

200178

137

111116

111

60

4227

3529

80 73

99

5945

53

3728

Expiring

Total Portfolio Leased Area Specialty Store Retailers Leased Area

00

50

100

150

200

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Expiring 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

200

118 115

Other Retailers Specialty retailers generally have lease terms of 5 to 7 years and for larger stores 5 to 10 years Specialty store retailers generally have leases with annual contracted increases of CPI plus 2 For the year ended 31 December 2017 the 10 largest specialty store retailers represented 8 of GLA and contributed 10 of rental income

The following table outlines the 10 largest specialty store retailers as of 31 December 2017

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 5 -

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 6 -

At 31 December 2017 Ownership Interest

()

Carrying Amount

($m)

Retail Capitalisation

Rate

Total Annual Sales

($m)

Specialty Annual Sales

($psm)

Lettable Area (lsquo000s sqm)

Number of Tenants

Australia

Australian Capital Territory

Belconnen 1000 9350 550 5385 8683 964 282

Woden 500 3500 550 3620 9130 719 242

New South Wales

Bondi Junction 1000 31436 425 10943 15956 1312 477

Burwood 1000 10952 500 4748 11428 632 237

Chatswood 1000 13671 450 5924 11409 808 271

Hornsby 1000 10952 525 6568 8771 998 322

Hurstville 500 4375 525 5429 10555 621 258

Kotara2 1000 8150 575 4701 11087 742 259

Liverpool 500 5501 525 5004 9761 834 340

Miranda 500 12705 450 9494 12379 1285 456

Mt Druitt 500 3150 550 4121 8948 600 236

Parramatta 500 10343 475 8345 12215 1377 468

Penrith 500 7500 475 6761 12109 917 333

Sydney3 1000 50274 412 11839 22194 1660 337

Tuggerah 1000 7850 550 4798 9093 834 263

Warringah Mall 500 9300 500 7233 8837 1319 388

Queensland

Carindale4 500 8136 525 8963 11150 1366 411

Chermside1 1000 26150 450 9300 12833 1756 496

Garden City 1000 17050 475 7906 10422 1406 413

Helensvale 500 2375 575 3756 12416 449 188

North Lakes 500 4750 500 6508 10510 856 278

South Australia

Marion 500 7375 525 8367 11375 1371 332

Tea Tree Plaza2 500 4003 550 5027 11105 953 250

West Lakes2 500 2450 600 3778 9214 722 242

Victoria

Airport West 500 2135 575 3410 9205 523 171

Doncaster 500 12000 450 9374 14042 1222 429

Fountain Gate 1000 20900 450 10356 10242 1783 454

Geelong 500 2650 575 2743 8982 516 178

Knox 500 5765 550 6773 9332 1413 416

Plenty Valley2 500 2610 525 3518 8534 522 178

Southland 500 8075 500 8242 9369 1291 388

Western Australia

Carousel2 1000 10800 550 5020 10860 824 290

Stirling (Innaloo) 1000 3310 625 3296 8941 470 172

Whitford City1 500 3300 575 4477 7524 854 297

New Zealand (NZD)

Albany 510 3014 588 4077 13485 534 146

Manukau 510 1890 700 2809 11698 455 193

Newmarket 510 1418 663 1348 11688 313 109

Riccarton 510 3162 650 5313 14557 556 195

St Lukes 510 2652 625 3470 13125 398 177

Total Portfolio (AUD) 353874 4915 231501 11201 36174 11572

1 Developments completed during the year2 Properties currently under redevelopment3 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers As at 31 December 2017 the weighted average capitalisation

rate of Sydney was 432 comprising retail 412 (Sydney City 40 and Sydney Central Plaza 45) and office 495 4 50 interest in this shopping centre is consolidated and 217 (31 December 2016 235) is shown as non controlling interest In 2017 the Group

acquired additional securities in Carindale Property Trust (CPT) increasing the Grouprsquos interest in CPT to 566 (31 December 2016 530)5 Weighted average capitalisation rate including non-retail assets

Portfolio Details

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 7 -

Scentre Group

Property Profiles

Westfield Chatswood

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 8 - Link To Disclaimer

Link to Trade Area Map

171 52289 m2 $3410 2640NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Airport West is conveniently located just 10 minutes from Tullamarine Airport and caters to a trade area population of 323000 residents

High rates of home ownership and household incomes that are in line with the Melbourne metropolitan average are found in the Main Trade Area Family composition is broadly in line with the Melbourne average with 26 of households being families with children under 15 years

The Total Trade Area retail spend in 2017 was estimated to be $42 billion with the Main Trade Area spend estimated to be $14 billion with retail spend per capita ($14066) broadly in line with the Melbourne metro average ($14247) Average household incomes in the Main Trade Area as at the 2016 Census were $97194 per annum which was also broadly in line with the Melbourne metro average ($99752)

There is a high proportion of residents who own their own home or are paying off a mortgage and 26 of households in the Main Trade area are families with children under 15 years in line with the Melbourne Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 162 ha

Car Park Spaces 2640

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $2135

Fair Value ($ million) $4270

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1976

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3410

Annual Sales Growth 42

Specialty Sales $9205 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $14 $43

Population 98972 322892

Anchor Retailers

GLA

Harris Scarfe 2675 51

Target 7230 138

KMart 6918 132

Coles 4000 76

Woolworths 3661 70

Aldi 1489 28

Cinemas 2618 50

Major Tenant Total 28591 547

AIRPORT WEST VIC29-35 LOUIS STREET AIRPORT WEST VIC 3042

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 9 - Link To Disclaimer

Link to Trade Area Map

146 53395 m2 $4077 m 2373NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Albany is located north of the Waitemata Harbour approximately 15 kilometres northwest of the Auckland CBD in one of the cityrsquos newest suburbs The centre caters to a trade area population of 390090 residents and is the landmark retail destination in the area

The total retail spend in Westfield Albanyrsquos Total Trade Area in 2017 was estimated at $64 billion while the total retail spend in the Main Trade Area was estimated at $35 billion The total retail spend per capita for the Westfield Albany Main Trade Area was estimated at $16000 per annum in 2017 which is broadly in line with the Auckland Region average ($15866)

The average household income in the Main Trade Area in 2013 for Westfield Albany was $92848 per annum which is also broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 208 ha

Car Park Spaces 2373

Value

Acquisition Date 2007

Fair Value ($ million) SCG Share $3014

Fair Value ($ million) $5910

Valuation Date Dec 17

Retail Capitalisation Rate 588

Centre Opened 2007

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4077

Annual Sales Growth 25

Specialty Sales $13485 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $64

Population 218416 390442

Anchor Retailers

GLA

Farmers 9946 186

KMart 6742 126

New World 3387 63

Cinemas 6778 127

Major Tenant Total 26852 503

ALBANY NZ219 DON MCKINNON DRIVE AUCKLAND 0632 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 10 - Link To Disclaimer

Link to Trade Area Map

282 96401 m2 $5385 m 2880NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 83 ha

Car Park Spaces 2880

Value

Acquisition Date 1986

Fair Value ($ million) SCG Share $9350

Fair Value ($ million) $9350

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1978

Centre Redeveloped 2011

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5385

Annual Sales Growth -14

Specialty Sales $8683 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $78

Population 194658 448155

Anchor Retailers

GLA

Myer 17639 183

Harris Scarfe 2103 22

Target 6807 71

KMart 7654 79

Coles 4151 43

Woolworths 4820 50

Aldi 1525 16

Cinemas 4380 45

Toys R Us 3445 36

Dan Murphys 1328 14

Major Tenant Total 53852 559

BELCONNEN ACTBENJAMIN WAY BELCONNEN ACT 2617

Located in the northern suburbs of Canberra Westfield Belconnen was the largest shopping centre in the southern hemisphere when it opened in 1978 and is still one of Canberrarsquos biggest The centre is located 13 kilometres from the Canberra CBD and services a total trade area population of approximately 448000 residents

The centrersquos Total Trade Area retail spend was estimated at $78 billion in 2017 while the total retail spend for the Main Trade Area was estimated at $34 billion

The Main Trade Area was characterised at the 2016 Census by a high average household income of $116925 per annum 4 above the Sydney Metro average ($112106)

The total annual retail spend per capita in the Main Trade Area is estimated at $17072 17 above the Sydney Metro average ($14609)

There is a high concentration of professional workers in the centrersquos Main Trade Area owing to the abundance of sizeable commercial and government employers in the area 69 who own their own home or are paying off a mortgage while 32 of households are families with children under 15

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 11 - Link To Disclaimer

Link to Trade Area Map

477 131155 m2 $10943 m 3304NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Bondi Junction is one of Sydneyrsquos iconic retail destinations Situated in the heart of the Eastern Suburbs one of the cityrsquos most desirable areas the centre is only 6 kilometres from the Sydney CBD Servicing a trade area population in excess of 440000 the centre is one of the strongest performers in the Scentre Group portfolio with 2017 retail sales totalling $109 billion

The centre is defined by a premium retail offer that caters to its discerning style conscious clientele International luxury brands sit alongside local designers and some of the most coveted high street brands in the world The retail mix is complemented by a customer service offer that includes valet parking a styling suite lsquohandsfreersquo shopping and a concierge service

The centrersquos Total Trade Area spend was estimated at $78 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $38 billion

Average household income in 2016 in the Total Trade Area was $120703 per annum which is 8 higher than the Sydney Metro average ($112106) with a high retail spend per capita of $17694 per annum 21 above the Sydney Metro average ($14609)

The Total Trade Area includes large pockets of high density living with 63 of households being flats units or apartments Workers from the trade area skew towards managersprofessionals and there is also a higher proportion of younger residents aged between 25-39 years compared with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 28 ha

Car Park Spaces 3304

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $31436

Fair Value ($ million) $31436

Valuation Date Dec 17

Retail Capitalisation Rate 425

Centre Opened 1970

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10943

Annual Sales Growth 26

Specialty Sales $15956 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $74

Population 195755 441098

Anchor Retailers

GLA

Myer 17887 136

David Jones 19234 147

Target 5311 40

Coles 4758 36

Woolworths 3750 29

Cinemas 6719 51

Harvey Norman 1500 11

Major Tenant Total 59158 451

BONDI JUNCTION NSW500 OXFORD STREET BONDI JUNCTION NSW 2022

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 12 - Link To Disclaimer

Link to Trade Area Map

237 63215 m2 $4748 m 3014NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 3014

Value

Acquisition Date 1992

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1966

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4748

Annual Sales Growth -02

Specialty Sales $11428 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $65

Population 240829 454817

Anchor Retailers

GLA

David Jones 14658 232

Target 5933 94

KMart 6121 97

Coles 3919 62

Woolworths 3625 57

Cinemas 5697 90

Major Tenant Total 39953 632

BURWOOD NSW100 BURWOOD ROAD BURWOOD NSW 2134

Westfield Burwood is centrally located within Sydneyrsquos Inner West approximately 12 kilometres from the CBD Strategically positioned within easy reach of Burwood Railway Station on the bustling commercial strip the centre caters to a trade area population in excess of 454000 residents

The Total Trade Area retail spend is estimated at $65 billion while the Main Trade Area spend estimated to be $35 billion

Westfield Burwoodrsquos spend per capita for the Main Trade Area is estimated at $14717 which is broadly in line with the Sydney Metro average ($14609)

The centrersquos catchment area has a diverse population with 49 of the Main Trade Area born outside Australia and 36 born in Asia A high proportion of workers are professionals or other white collar workers and there are pockets of high density living with nearly 49 of homes being flats units or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 13 - Link To Disclaimer

Link to Trade Area Map

411 136609 m2 $8933 m 5897NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Carindale Property Trust (50)

APPF (50)

Centre Manager Scentre Group

Site Area 158 ha

Car Park Spaces 5897

Value

Acquisition Date 1999

Fair Value ($ million) SCG Share $8136

Fair Value ($ million) $16272

Valuation Date Dec 17a

Retail Capitalisation Rate 525

Centre Opened 1979

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8963

Annual Sales Growth 09

Specialty Sales $11150 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $93

Population 270989 663470

Anchor Retailers

GLA

Myer 20840 153

David Jones 15246 112

BIG W 8527 63

Target 8020 59

Harvey Norman 4814 35

Coles 4167 31

Woolworths 3971 29

Cinemas 3805 28

Harris Scarfe 2589 19

Aldi 1672 12

Major Tenant Total 73651 540

CARINDALE QLD1151 CREEK ROAD CARINDALE QLD 4152

Scentre Group has 566 interest in CPT

Westfield Carindale is situated in an affluent quarter of Brisbanersquos South Eastern Suburbs approximately 12 kilometres from the Brisbane CBD The centre services a trade area population of approximately 663000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access

One of the cityrsquos leading retail destinations Carindale boasts a comprehensive fashion offer that includes Sas amp Bide Leona Edmiston and Chanel Beaute The adjoining Carindale Home amp Leisure Centre complements the retail mix with bulky goods retail

The total retail spend by the Westfield Carindale Total Trade Area in 2017 was estimated at $93 billion while the total retail spend by the Main Trade Area was estimated at $39 billion

The centrersquos total annual retail spend per capita is estimated at $14059 4 above the Brisbane Metro average ($13563) while the total annual retail spend per capita for the Main Trade Area is estimated to be $14548 which is 7 above the Brisbane Metro average ($13563)

Westfield Carindalersquos Main Trade Area had a high average household income in 2016 of $110814 per annum which is 11 above the Brisbane Metro average ($100034) Household composition is in line with the Brisbane Metro average with 29 being families with children under 15 years of age

In the Main Trade Area 78 of workers are professional or other white collar workers which is above the Brisbane Metro average of 70

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 6 -

At 31 December 2017 Ownership Interest

()

Carrying Amount

($m)

Retail Capitalisation

Rate

Total Annual Sales

($m)

Specialty Annual Sales

($psm)

Lettable Area (lsquo000s sqm)

Number of Tenants

Australia

Australian Capital Territory

Belconnen 1000 9350 550 5385 8683 964 282

Woden 500 3500 550 3620 9130 719 242

New South Wales

Bondi Junction 1000 31436 425 10943 15956 1312 477

Burwood 1000 10952 500 4748 11428 632 237

Chatswood 1000 13671 450 5924 11409 808 271

Hornsby 1000 10952 525 6568 8771 998 322

Hurstville 500 4375 525 5429 10555 621 258

Kotara2 1000 8150 575 4701 11087 742 259

Liverpool 500 5501 525 5004 9761 834 340

Miranda 500 12705 450 9494 12379 1285 456

Mt Druitt 500 3150 550 4121 8948 600 236

Parramatta 500 10343 475 8345 12215 1377 468

Penrith 500 7500 475 6761 12109 917 333

Sydney3 1000 50274 412 11839 22194 1660 337

Tuggerah 1000 7850 550 4798 9093 834 263

Warringah Mall 500 9300 500 7233 8837 1319 388

Queensland

Carindale4 500 8136 525 8963 11150 1366 411

Chermside1 1000 26150 450 9300 12833 1756 496

Garden City 1000 17050 475 7906 10422 1406 413

Helensvale 500 2375 575 3756 12416 449 188

North Lakes 500 4750 500 6508 10510 856 278

South Australia

Marion 500 7375 525 8367 11375 1371 332

Tea Tree Plaza2 500 4003 550 5027 11105 953 250

West Lakes2 500 2450 600 3778 9214 722 242

Victoria

Airport West 500 2135 575 3410 9205 523 171

Doncaster 500 12000 450 9374 14042 1222 429

Fountain Gate 1000 20900 450 10356 10242 1783 454

Geelong 500 2650 575 2743 8982 516 178

Knox 500 5765 550 6773 9332 1413 416

Plenty Valley2 500 2610 525 3518 8534 522 178

Southland 500 8075 500 8242 9369 1291 388

Western Australia

Carousel2 1000 10800 550 5020 10860 824 290

Stirling (Innaloo) 1000 3310 625 3296 8941 470 172

Whitford City1 500 3300 575 4477 7524 854 297

New Zealand (NZD)

Albany 510 3014 588 4077 13485 534 146

Manukau 510 1890 700 2809 11698 455 193

Newmarket 510 1418 663 1348 11688 313 109

Riccarton 510 3162 650 5313 14557 556 195

St Lukes 510 2652 625 3470 13125 398 177

Total Portfolio (AUD) 353874 4915 231501 11201 36174 11572

1 Developments completed during the year2 Properties currently under redevelopment3 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers As at 31 December 2017 the weighted average capitalisation

rate of Sydney was 432 comprising retail 412 (Sydney City 40 and Sydney Central Plaza 45) and office 495 4 50 interest in this shopping centre is consolidated and 217 (31 December 2016 235) is shown as non controlling interest In 2017 the Group

acquired additional securities in Carindale Property Trust (CPT) increasing the Grouprsquos interest in CPT to 566 (31 December 2016 530)5 Weighted average capitalisation rate including non-retail assets

Portfolio Details

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 7 -

Scentre Group

Property Profiles

Westfield Chatswood

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 8 - Link To Disclaimer

Link to Trade Area Map

171 52289 m2 $3410 2640NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Airport West is conveniently located just 10 minutes from Tullamarine Airport and caters to a trade area population of 323000 residents

High rates of home ownership and household incomes that are in line with the Melbourne metropolitan average are found in the Main Trade Area Family composition is broadly in line with the Melbourne average with 26 of households being families with children under 15 years

The Total Trade Area retail spend in 2017 was estimated to be $42 billion with the Main Trade Area spend estimated to be $14 billion with retail spend per capita ($14066) broadly in line with the Melbourne metro average ($14247) Average household incomes in the Main Trade Area as at the 2016 Census were $97194 per annum which was also broadly in line with the Melbourne metro average ($99752)

There is a high proportion of residents who own their own home or are paying off a mortgage and 26 of households in the Main Trade area are families with children under 15 years in line with the Melbourne Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 162 ha

Car Park Spaces 2640

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $2135

Fair Value ($ million) $4270

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1976

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3410

Annual Sales Growth 42

Specialty Sales $9205 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $14 $43

Population 98972 322892

Anchor Retailers

GLA

Harris Scarfe 2675 51

Target 7230 138

KMart 6918 132

Coles 4000 76

Woolworths 3661 70

Aldi 1489 28

Cinemas 2618 50

Major Tenant Total 28591 547

AIRPORT WEST VIC29-35 LOUIS STREET AIRPORT WEST VIC 3042

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 9 - Link To Disclaimer

Link to Trade Area Map

146 53395 m2 $4077 m 2373NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Albany is located north of the Waitemata Harbour approximately 15 kilometres northwest of the Auckland CBD in one of the cityrsquos newest suburbs The centre caters to a trade area population of 390090 residents and is the landmark retail destination in the area

The total retail spend in Westfield Albanyrsquos Total Trade Area in 2017 was estimated at $64 billion while the total retail spend in the Main Trade Area was estimated at $35 billion The total retail spend per capita for the Westfield Albany Main Trade Area was estimated at $16000 per annum in 2017 which is broadly in line with the Auckland Region average ($15866)

The average household income in the Main Trade Area in 2013 for Westfield Albany was $92848 per annum which is also broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 208 ha

Car Park Spaces 2373

Value

Acquisition Date 2007

Fair Value ($ million) SCG Share $3014

Fair Value ($ million) $5910

Valuation Date Dec 17

Retail Capitalisation Rate 588

Centre Opened 2007

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4077

Annual Sales Growth 25

Specialty Sales $13485 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $64

Population 218416 390442

Anchor Retailers

GLA

Farmers 9946 186

KMart 6742 126

New World 3387 63

Cinemas 6778 127

Major Tenant Total 26852 503

ALBANY NZ219 DON MCKINNON DRIVE AUCKLAND 0632 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 10 - Link To Disclaimer

Link to Trade Area Map

282 96401 m2 $5385 m 2880NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 83 ha

Car Park Spaces 2880

Value

Acquisition Date 1986

Fair Value ($ million) SCG Share $9350

Fair Value ($ million) $9350

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1978

Centre Redeveloped 2011

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5385

Annual Sales Growth -14

Specialty Sales $8683 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $78

Population 194658 448155

Anchor Retailers

GLA

Myer 17639 183

Harris Scarfe 2103 22

Target 6807 71

KMart 7654 79

Coles 4151 43

Woolworths 4820 50

Aldi 1525 16

Cinemas 4380 45

Toys R Us 3445 36

Dan Murphys 1328 14

Major Tenant Total 53852 559

BELCONNEN ACTBENJAMIN WAY BELCONNEN ACT 2617

Located in the northern suburbs of Canberra Westfield Belconnen was the largest shopping centre in the southern hemisphere when it opened in 1978 and is still one of Canberrarsquos biggest The centre is located 13 kilometres from the Canberra CBD and services a total trade area population of approximately 448000 residents

The centrersquos Total Trade Area retail spend was estimated at $78 billion in 2017 while the total retail spend for the Main Trade Area was estimated at $34 billion

The Main Trade Area was characterised at the 2016 Census by a high average household income of $116925 per annum 4 above the Sydney Metro average ($112106)

The total annual retail spend per capita in the Main Trade Area is estimated at $17072 17 above the Sydney Metro average ($14609)

There is a high concentration of professional workers in the centrersquos Main Trade Area owing to the abundance of sizeable commercial and government employers in the area 69 who own their own home or are paying off a mortgage while 32 of households are families with children under 15

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 11 - Link To Disclaimer

Link to Trade Area Map

477 131155 m2 $10943 m 3304NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Bondi Junction is one of Sydneyrsquos iconic retail destinations Situated in the heart of the Eastern Suburbs one of the cityrsquos most desirable areas the centre is only 6 kilometres from the Sydney CBD Servicing a trade area population in excess of 440000 the centre is one of the strongest performers in the Scentre Group portfolio with 2017 retail sales totalling $109 billion

The centre is defined by a premium retail offer that caters to its discerning style conscious clientele International luxury brands sit alongside local designers and some of the most coveted high street brands in the world The retail mix is complemented by a customer service offer that includes valet parking a styling suite lsquohandsfreersquo shopping and a concierge service

The centrersquos Total Trade Area spend was estimated at $78 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $38 billion

Average household income in 2016 in the Total Trade Area was $120703 per annum which is 8 higher than the Sydney Metro average ($112106) with a high retail spend per capita of $17694 per annum 21 above the Sydney Metro average ($14609)

The Total Trade Area includes large pockets of high density living with 63 of households being flats units or apartments Workers from the trade area skew towards managersprofessionals and there is also a higher proportion of younger residents aged between 25-39 years compared with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 28 ha

Car Park Spaces 3304

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $31436

Fair Value ($ million) $31436

Valuation Date Dec 17

Retail Capitalisation Rate 425

Centre Opened 1970

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10943

Annual Sales Growth 26

Specialty Sales $15956 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $74

Population 195755 441098

Anchor Retailers

GLA

Myer 17887 136

David Jones 19234 147

Target 5311 40

Coles 4758 36

Woolworths 3750 29

Cinemas 6719 51

Harvey Norman 1500 11

Major Tenant Total 59158 451

BONDI JUNCTION NSW500 OXFORD STREET BONDI JUNCTION NSW 2022

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 12 - Link To Disclaimer

Link to Trade Area Map

237 63215 m2 $4748 m 3014NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 3014

Value

Acquisition Date 1992

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1966

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4748

Annual Sales Growth -02

Specialty Sales $11428 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $65

Population 240829 454817

Anchor Retailers

GLA

David Jones 14658 232

Target 5933 94

KMart 6121 97

Coles 3919 62

Woolworths 3625 57

Cinemas 5697 90

Major Tenant Total 39953 632

BURWOOD NSW100 BURWOOD ROAD BURWOOD NSW 2134

Westfield Burwood is centrally located within Sydneyrsquos Inner West approximately 12 kilometres from the CBD Strategically positioned within easy reach of Burwood Railway Station on the bustling commercial strip the centre caters to a trade area population in excess of 454000 residents

The Total Trade Area retail spend is estimated at $65 billion while the Main Trade Area spend estimated to be $35 billion

Westfield Burwoodrsquos spend per capita for the Main Trade Area is estimated at $14717 which is broadly in line with the Sydney Metro average ($14609)

The centrersquos catchment area has a diverse population with 49 of the Main Trade Area born outside Australia and 36 born in Asia A high proportion of workers are professionals or other white collar workers and there are pockets of high density living with nearly 49 of homes being flats units or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 13 - Link To Disclaimer

Link to Trade Area Map

411 136609 m2 $8933 m 5897NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Carindale Property Trust (50)

APPF (50)

Centre Manager Scentre Group

Site Area 158 ha

Car Park Spaces 5897

Value

Acquisition Date 1999

Fair Value ($ million) SCG Share $8136

Fair Value ($ million) $16272

Valuation Date Dec 17a

Retail Capitalisation Rate 525

Centre Opened 1979

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8963

Annual Sales Growth 09

Specialty Sales $11150 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $93

Population 270989 663470

Anchor Retailers

GLA

Myer 20840 153

David Jones 15246 112

BIG W 8527 63

Target 8020 59

Harvey Norman 4814 35

Coles 4167 31

Woolworths 3971 29

Cinemas 3805 28

Harris Scarfe 2589 19

Aldi 1672 12

Major Tenant Total 73651 540

CARINDALE QLD1151 CREEK ROAD CARINDALE QLD 4152

Scentre Group has 566 interest in CPT

Westfield Carindale is situated in an affluent quarter of Brisbanersquos South Eastern Suburbs approximately 12 kilometres from the Brisbane CBD The centre services a trade area population of approximately 663000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access

One of the cityrsquos leading retail destinations Carindale boasts a comprehensive fashion offer that includes Sas amp Bide Leona Edmiston and Chanel Beaute The adjoining Carindale Home amp Leisure Centre complements the retail mix with bulky goods retail

The total retail spend by the Westfield Carindale Total Trade Area in 2017 was estimated at $93 billion while the total retail spend by the Main Trade Area was estimated at $39 billion

The centrersquos total annual retail spend per capita is estimated at $14059 4 above the Brisbane Metro average ($13563) while the total annual retail spend per capita for the Main Trade Area is estimated to be $14548 which is 7 above the Brisbane Metro average ($13563)

Westfield Carindalersquos Main Trade Area had a high average household income in 2016 of $110814 per annum which is 11 above the Brisbane Metro average ($100034) Household composition is in line with the Brisbane Metro average with 29 being families with children under 15 years of age

In the Main Trade Area 78 of workers are professional or other white collar workers which is above the Brisbane Metro average of 70

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 7 -

Scentre Group

Property Profiles

Westfield Chatswood

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 8 - Link To Disclaimer

Link to Trade Area Map

171 52289 m2 $3410 2640NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Airport West is conveniently located just 10 minutes from Tullamarine Airport and caters to a trade area population of 323000 residents

High rates of home ownership and household incomes that are in line with the Melbourne metropolitan average are found in the Main Trade Area Family composition is broadly in line with the Melbourne average with 26 of households being families with children under 15 years

The Total Trade Area retail spend in 2017 was estimated to be $42 billion with the Main Trade Area spend estimated to be $14 billion with retail spend per capita ($14066) broadly in line with the Melbourne metro average ($14247) Average household incomes in the Main Trade Area as at the 2016 Census were $97194 per annum which was also broadly in line with the Melbourne metro average ($99752)

There is a high proportion of residents who own their own home or are paying off a mortgage and 26 of households in the Main Trade area are families with children under 15 years in line with the Melbourne Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 162 ha

Car Park Spaces 2640

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $2135

Fair Value ($ million) $4270

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1976

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3410

Annual Sales Growth 42

Specialty Sales $9205 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $14 $43

Population 98972 322892

Anchor Retailers

GLA

Harris Scarfe 2675 51

Target 7230 138

KMart 6918 132

Coles 4000 76

Woolworths 3661 70

Aldi 1489 28

Cinemas 2618 50

Major Tenant Total 28591 547

AIRPORT WEST VIC29-35 LOUIS STREET AIRPORT WEST VIC 3042

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 9 - Link To Disclaimer

Link to Trade Area Map

146 53395 m2 $4077 m 2373NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Albany is located north of the Waitemata Harbour approximately 15 kilometres northwest of the Auckland CBD in one of the cityrsquos newest suburbs The centre caters to a trade area population of 390090 residents and is the landmark retail destination in the area

The total retail spend in Westfield Albanyrsquos Total Trade Area in 2017 was estimated at $64 billion while the total retail spend in the Main Trade Area was estimated at $35 billion The total retail spend per capita for the Westfield Albany Main Trade Area was estimated at $16000 per annum in 2017 which is broadly in line with the Auckland Region average ($15866)

The average household income in the Main Trade Area in 2013 for Westfield Albany was $92848 per annum which is also broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 208 ha

Car Park Spaces 2373

Value

Acquisition Date 2007

Fair Value ($ million) SCG Share $3014

Fair Value ($ million) $5910

Valuation Date Dec 17

Retail Capitalisation Rate 588

Centre Opened 2007

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4077

Annual Sales Growth 25

Specialty Sales $13485 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $64

Population 218416 390442

Anchor Retailers

GLA

Farmers 9946 186

KMart 6742 126

New World 3387 63

Cinemas 6778 127

Major Tenant Total 26852 503

ALBANY NZ219 DON MCKINNON DRIVE AUCKLAND 0632 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 10 - Link To Disclaimer

Link to Trade Area Map

282 96401 m2 $5385 m 2880NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 83 ha

Car Park Spaces 2880

Value

Acquisition Date 1986

Fair Value ($ million) SCG Share $9350

Fair Value ($ million) $9350

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1978

Centre Redeveloped 2011

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5385

Annual Sales Growth -14

Specialty Sales $8683 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $78

Population 194658 448155

Anchor Retailers

GLA

Myer 17639 183

Harris Scarfe 2103 22

Target 6807 71

KMart 7654 79

Coles 4151 43

Woolworths 4820 50

Aldi 1525 16

Cinemas 4380 45

Toys R Us 3445 36

Dan Murphys 1328 14

Major Tenant Total 53852 559

BELCONNEN ACTBENJAMIN WAY BELCONNEN ACT 2617

Located in the northern suburbs of Canberra Westfield Belconnen was the largest shopping centre in the southern hemisphere when it opened in 1978 and is still one of Canberrarsquos biggest The centre is located 13 kilometres from the Canberra CBD and services a total trade area population of approximately 448000 residents

The centrersquos Total Trade Area retail spend was estimated at $78 billion in 2017 while the total retail spend for the Main Trade Area was estimated at $34 billion

The Main Trade Area was characterised at the 2016 Census by a high average household income of $116925 per annum 4 above the Sydney Metro average ($112106)

The total annual retail spend per capita in the Main Trade Area is estimated at $17072 17 above the Sydney Metro average ($14609)

There is a high concentration of professional workers in the centrersquos Main Trade Area owing to the abundance of sizeable commercial and government employers in the area 69 who own their own home or are paying off a mortgage while 32 of households are families with children under 15

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 11 - Link To Disclaimer

Link to Trade Area Map

477 131155 m2 $10943 m 3304NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Bondi Junction is one of Sydneyrsquos iconic retail destinations Situated in the heart of the Eastern Suburbs one of the cityrsquos most desirable areas the centre is only 6 kilometres from the Sydney CBD Servicing a trade area population in excess of 440000 the centre is one of the strongest performers in the Scentre Group portfolio with 2017 retail sales totalling $109 billion

The centre is defined by a premium retail offer that caters to its discerning style conscious clientele International luxury brands sit alongside local designers and some of the most coveted high street brands in the world The retail mix is complemented by a customer service offer that includes valet parking a styling suite lsquohandsfreersquo shopping and a concierge service

The centrersquos Total Trade Area spend was estimated at $78 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $38 billion

Average household income in 2016 in the Total Trade Area was $120703 per annum which is 8 higher than the Sydney Metro average ($112106) with a high retail spend per capita of $17694 per annum 21 above the Sydney Metro average ($14609)

The Total Trade Area includes large pockets of high density living with 63 of households being flats units or apartments Workers from the trade area skew towards managersprofessionals and there is also a higher proportion of younger residents aged between 25-39 years compared with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 28 ha

Car Park Spaces 3304

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $31436

Fair Value ($ million) $31436

Valuation Date Dec 17

Retail Capitalisation Rate 425

Centre Opened 1970

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10943

Annual Sales Growth 26

Specialty Sales $15956 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $74

Population 195755 441098

Anchor Retailers

GLA

Myer 17887 136

David Jones 19234 147

Target 5311 40

Coles 4758 36

Woolworths 3750 29

Cinemas 6719 51

Harvey Norman 1500 11

Major Tenant Total 59158 451

BONDI JUNCTION NSW500 OXFORD STREET BONDI JUNCTION NSW 2022

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 12 - Link To Disclaimer

Link to Trade Area Map

237 63215 m2 $4748 m 3014NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 3014

Value

Acquisition Date 1992

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1966

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4748

Annual Sales Growth -02

Specialty Sales $11428 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $65

Population 240829 454817

Anchor Retailers

GLA

David Jones 14658 232

Target 5933 94

KMart 6121 97

Coles 3919 62

Woolworths 3625 57

Cinemas 5697 90

Major Tenant Total 39953 632

BURWOOD NSW100 BURWOOD ROAD BURWOOD NSW 2134

Westfield Burwood is centrally located within Sydneyrsquos Inner West approximately 12 kilometres from the CBD Strategically positioned within easy reach of Burwood Railway Station on the bustling commercial strip the centre caters to a trade area population in excess of 454000 residents

The Total Trade Area retail spend is estimated at $65 billion while the Main Trade Area spend estimated to be $35 billion

Westfield Burwoodrsquos spend per capita for the Main Trade Area is estimated at $14717 which is broadly in line with the Sydney Metro average ($14609)

The centrersquos catchment area has a diverse population with 49 of the Main Trade Area born outside Australia and 36 born in Asia A high proportion of workers are professionals or other white collar workers and there are pockets of high density living with nearly 49 of homes being flats units or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 13 - Link To Disclaimer

Link to Trade Area Map

411 136609 m2 $8933 m 5897NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Carindale Property Trust (50)

APPF (50)

Centre Manager Scentre Group

Site Area 158 ha

Car Park Spaces 5897

Value

Acquisition Date 1999

Fair Value ($ million) SCG Share $8136

Fair Value ($ million) $16272

Valuation Date Dec 17a

Retail Capitalisation Rate 525

Centre Opened 1979

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8963

Annual Sales Growth 09

Specialty Sales $11150 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $93

Population 270989 663470

Anchor Retailers

GLA

Myer 20840 153

David Jones 15246 112

BIG W 8527 63

Target 8020 59

Harvey Norman 4814 35

Coles 4167 31

Woolworths 3971 29

Cinemas 3805 28

Harris Scarfe 2589 19

Aldi 1672 12

Major Tenant Total 73651 540

CARINDALE QLD1151 CREEK ROAD CARINDALE QLD 4152

Scentre Group has 566 interest in CPT

Westfield Carindale is situated in an affluent quarter of Brisbanersquos South Eastern Suburbs approximately 12 kilometres from the Brisbane CBD The centre services a trade area population of approximately 663000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access

One of the cityrsquos leading retail destinations Carindale boasts a comprehensive fashion offer that includes Sas amp Bide Leona Edmiston and Chanel Beaute The adjoining Carindale Home amp Leisure Centre complements the retail mix with bulky goods retail

The total retail spend by the Westfield Carindale Total Trade Area in 2017 was estimated at $93 billion while the total retail spend by the Main Trade Area was estimated at $39 billion

The centrersquos total annual retail spend per capita is estimated at $14059 4 above the Brisbane Metro average ($13563) while the total annual retail spend per capita for the Main Trade Area is estimated to be $14548 which is 7 above the Brisbane Metro average ($13563)

Westfield Carindalersquos Main Trade Area had a high average household income in 2016 of $110814 per annum which is 11 above the Brisbane Metro average ($100034) Household composition is in line with the Brisbane Metro average with 29 being families with children under 15 years of age

In the Main Trade Area 78 of workers are professional or other white collar workers which is above the Brisbane Metro average of 70

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 8 - Link To Disclaimer

Link to Trade Area Map

171 52289 m2 $3410 2640NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Airport West is conveniently located just 10 minutes from Tullamarine Airport and caters to a trade area population of 323000 residents

High rates of home ownership and household incomes that are in line with the Melbourne metropolitan average are found in the Main Trade Area Family composition is broadly in line with the Melbourne average with 26 of households being families with children under 15 years

The Total Trade Area retail spend in 2017 was estimated to be $42 billion with the Main Trade Area spend estimated to be $14 billion with retail spend per capita ($14066) broadly in line with the Melbourne metro average ($14247) Average household incomes in the Main Trade Area as at the 2016 Census were $97194 per annum which was also broadly in line with the Melbourne metro average ($99752)

There is a high proportion of residents who own their own home or are paying off a mortgage and 26 of households in the Main Trade area are families with children under 15 years in line with the Melbourne Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 162 ha

Car Park Spaces 2640

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $2135

Fair Value ($ million) $4270

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1976

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3410

Annual Sales Growth 42

Specialty Sales $9205 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $14 $43

Population 98972 322892

Anchor Retailers

GLA

Harris Scarfe 2675 51

Target 7230 138

KMart 6918 132

Coles 4000 76

Woolworths 3661 70

Aldi 1489 28

Cinemas 2618 50

Major Tenant Total 28591 547

AIRPORT WEST VIC29-35 LOUIS STREET AIRPORT WEST VIC 3042

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 9 - Link To Disclaimer

Link to Trade Area Map

146 53395 m2 $4077 m 2373NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Albany is located north of the Waitemata Harbour approximately 15 kilometres northwest of the Auckland CBD in one of the cityrsquos newest suburbs The centre caters to a trade area population of 390090 residents and is the landmark retail destination in the area

The total retail spend in Westfield Albanyrsquos Total Trade Area in 2017 was estimated at $64 billion while the total retail spend in the Main Trade Area was estimated at $35 billion The total retail spend per capita for the Westfield Albany Main Trade Area was estimated at $16000 per annum in 2017 which is broadly in line with the Auckland Region average ($15866)

The average household income in the Main Trade Area in 2013 for Westfield Albany was $92848 per annum which is also broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 208 ha

Car Park Spaces 2373

Value

Acquisition Date 2007

Fair Value ($ million) SCG Share $3014

Fair Value ($ million) $5910

Valuation Date Dec 17

Retail Capitalisation Rate 588

Centre Opened 2007

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4077

Annual Sales Growth 25

Specialty Sales $13485 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $64

Population 218416 390442

Anchor Retailers

GLA

Farmers 9946 186

KMart 6742 126

New World 3387 63

Cinemas 6778 127

Major Tenant Total 26852 503

ALBANY NZ219 DON MCKINNON DRIVE AUCKLAND 0632 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 10 - Link To Disclaimer

Link to Trade Area Map

282 96401 m2 $5385 m 2880NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 83 ha

Car Park Spaces 2880

Value

Acquisition Date 1986

Fair Value ($ million) SCG Share $9350

Fair Value ($ million) $9350

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1978

Centre Redeveloped 2011

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5385

Annual Sales Growth -14

Specialty Sales $8683 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $78

Population 194658 448155

Anchor Retailers

GLA

Myer 17639 183

Harris Scarfe 2103 22

Target 6807 71

KMart 7654 79

Coles 4151 43

Woolworths 4820 50

Aldi 1525 16

Cinemas 4380 45

Toys R Us 3445 36

Dan Murphys 1328 14

Major Tenant Total 53852 559

BELCONNEN ACTBENJAMIN WAY BELCONNEN ACT 2617

Located in the northern suburbs of Canberra Westfield Belconnen was the largest shopping centre in the southern hemisphere when it opened in 1978 and is still one of Canberrarsquos biggest The centre is located 13 kilometres from the Canberra CBD and services a total trade area population of approximately 448000 residents

The centrersquos Total Trade Area retail spend was estimated at $78 billion in 2017 while the total retail spend for the Main Trade Area was estimated at $34 billion

The Main Trade Area was characterised at the 2016 Census by a high average household income of $116925 per annum 4 above the Sydney Metro average ($112106)

The total annual retail spend per capita in the Main Trade Area is estimated at $17072 17 above the Sydney Metro average ($14609)

There is a high concentration of professional workers in the centrersquos Main Trade Area owing to the abundance of sizeable commercial and government employers in the area 69 who own their own home or are paying off a mortgage while 32 of households are families with children under 15

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 11 - Link To Disclaimer

Link to Trade Area Map

477 131155 m2 $10943 m 3304NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Bondi Junction is one of Sydneyrsquos iconic retail destinations Situated in the heart of the Eastern Suburbs one of the cityrsquos most desirable areas the centre is only 6 kilometres from the Sydney CBD Servicing a trade area population in excess of 440000 the centre is one of the strongest performers in the Scentre Group portfolio with 2017 retail sales totalling $109 billion

The centre is defined by a premium retail offer that caters to its discerning style conscious clientele International luxury brands sit alongside local designers and some of the most coveted high street brands in the world The retail mix is complemented by a customer service offer that includes valet parking a styling suite lsquohandsfreersquo shopping and a concierge service

The centrersquos Total Trade Area spend was estimated at $78 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $38 billion

Average household income in 2016 in the Total Trade Area was $120703 per annum which is 8 higher than the Sydney Metro average ($112106) with a high retail spend per capita of $17694 per annum 21 above the Sydney Metro average ($14609)

The Total Trade Area includes large pockets of high density living with 63 of households being flats units or apartments Workers from the trade area skew towards managersprofessionals and there is also a higher proportion of younger residents aged between 25-39 years compared with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 28 ha

Car Park Spaces 3304

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $31436

Fair Value ($ million) $31436

Valuation Date Dec 17

Retail Capitalisation Rate 425

Centre Opened 1970

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10943

Annual Sales Growth 26

Specialty Sales $15956 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $74

Population 195755 441098

Anchor Retailers

GLA

Myer 17887 136

David Jones 19234 147

Target 5311 40

Coles 4758 36

Woolworths 3750 29

Cinemas 6719 51

Harvey Norman 1500 11

Major Tenant Total 59158 451

BONDI JUNCTION NSW500 OXFORD STREET BONDI JUNCTION NSW 2022

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 12 - Link To Disclaimer

Link to Trade Area Map

237 63215 m2 $4748 m 3014NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 3014

Value

Acquisition Date 1992

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1966

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4748

Annual Sales Growth -02

Specialty Sales $11428 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $65

Population 240829 454817

Anchor Retailers

GLA

David Jones 14658 232

Target 5933 94

KMart 6121 97

Coles 3919 62

Woolworths 3625 57

Cinemas 5697 90

Major Tenant Total 39953 632

BURWOOD NSW100 BURWOOD ROAD BURWOOD NSW 2134

Westfield Burwood is centrally located within Sydneyrsquos Inner West approximately 12 kilometres from the CBD Strategically positioned within easy reach of Burwood Railway Station on the bustling commercial strip the centre caters to a trade area population in excess of 454000 residents

The Total Trade Area retail spend is estimated at $65 billion while the Main Trade Area spend estimated to be $35 billion

Westfield Burwoodrsquos spend per capita for the Main Trade Area is estimated at $14717 which is broadly in line with the Sydney Metro average ($14609)

The centrersquos catchment area has a diverse population with 49 of the Main Trade Area born outside Australia and 36 born in Asia A high proportion of workers are professionals or other white collar workers and there are pockets of high density living with nearly 49 of homes being flats units or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 13 - Link To Disclaimer

Link to Trade Area Map

411 136609 m2 $8933 m 5897NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Carindale Property Trust (50)

APPF (50)

Centre Manager Scentre Group

Site Area 158 ha

Car Park Spaces 5897

Value

Acquisition Date 1999

Fair Value ($ million) SCG Share $8136

Fair Value ($ million) $16272

Valuation Date Dec 17a

Retail Capitalisation Rate 525

Centre Opened 1979

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8963

Annual Sales Growth 09

Specialty Sales $11150 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $93

Population 270989 663470

Anchor Retailers

GLA

Myer 20840 153

David Jones 15246 112

BIG W 8527 63

Target 8020 59

Harvey Norman 4814 35

Coles 4167 31

Woolworths 3971 29

Cinemas 3805 28

Harris Scarfe 2589 19

Aldi 1672 12

Major Tenant Total 73651 540

CARINDALE QLD1151 CREEK ROAD CARINDALE QLD 4152

Scentre Group has 566 interest in CPT

Westfield Carindale is situated in an affluent quarter of Brisbanersquos South Eastern Suburbs approximately 12 kilometres from the Brisbane CBD The centre services a trade area population of approximately 663000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access

One of the cityrsquos leading retail destinations Carindale boasts a comprehensive fashion offer that includes Sas amp Bide Leona Edmiston and Chanel Beaute The adjoining Carindale Home amp Leisure Centre complements the retail mix with bulky goods retail

The total retail spend by the Westfield Carindale Total Trade Area in 2017 was estimated at $93 billion while the total retail spend by the Main Trade Area was estimated at $39 billion

The centrersquos total annual retail spend per capita is estimated at $14059 4 above the Brisbane Metro average ($13563) while the total annual retail spend per capita for the Main Trade Area is estimated to be $14548 which is 7 above the Brisbane Metro average ($13563)

Westfield Carindalersquos Main Trade Area had a high average household income in 2016 of $110814 per annum which is 11 above the Brisbane Metro average ($100034) Household composition is in line with the Brisbane Metro average with 29 being families with children under 15 years of age

In the Main Trade Area 78 of workers are professional or other white collar workers which is above the Brisbane Metro average of 70

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 9 - Link To Disclaimer

Link to Trade Area Map

146 53395 m2 $4077 m 2373NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Albany is located north of the Waitemata Harbour approximately 15 kilometres northwest of the Auckland CBD in one of the cityrsquos newest suburbs The centre caters to a trade area population of 390090 residents and is the landmark retail destination in the area

The total retail spend in Westfield Albanyrsquos Total Trade Area in 2017 was estimated at $64 billion while the total retail spend in the Main Trade Area was estimated at $35 billion The total retail spend per capita for the Westfield Albany Main Trade Area was estimated at $16000 per annum in 2017 which is broadly in line with the Auckland Region average ($15866)

The average household income in the Main Trade Area in 2013 for Westfield Albany was $92848 per annum which is also broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 208 ha

Car Park Spaces 2373

Value

Acquisition Date 2007

Fair Value ($ million) SCG Share $3014

Fair Value ($ million) $5910

Valuation Date Dec 17

Retail Capitalisation Rate 588

Centre Opened 2007

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4077

Annual Sales Growth 25

Specialty Sales $13485 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $64

Population 218416 390442

Anchor Retailers

GLA

Farmers 9946 186

KMart 6742 126

New World 3387 63

Cinemas 6778 127

Major Tenant Total 26852 503

ALBANY NZ219 DON MCKINNON DRIVE AUCKLAND 0632 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 10 - Link To Disclaimer

Link to Trade Area Map

282 96401 m2 $5385 m 2880NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 83 ha

Car Park Spaces 2880

Value

Acquisition Date 1986

Fair Value ($ million) SCG Share $9350

Fair Value ($ million) $9350

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1978

Centre Redeveloped 2011

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5385

Annual Sales Growth -14

Specialty Sales $8683 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $78

Population 194658 448155

Anchor Retailers

GLA

Myer 17639 183

Harris Scarfe 2103 22

Target 6807 71

KMart 7654 79

Coles 4151 43

Woolworths 4820 50

Aldi 1525 16

Cinemas 4380 45

Toys R Us 3445 36

Dan Murphys 1328 14

Major Tenant Total 53852 559

BELCONNEN ACTBENJAMIN WAY BELCONNEN ACT 2617

Located in the northern suburbs of Canberra Westfield Belconnen was the largest shopping centre in the southern hemisphere when it opened in 1978 and is still one of Canberrarsquos biggest The centre is located 13 kilometres from the Canberra CBD and services a total trade area population of approximately 448000 residents

The centrersquos Total Trade Area retail spend was estimated at $78 billion in 2017 while the total retail spend for the Main Trade Area was estimated at $34 billion

The Main Trade Area was characterised at the 2016 Census by a high average household income of $116925 per annum 4 above the Sydney Metro average ($112106)

The total annual retail spend per capita in the Main Trade Area is estimated at $17072 17 above the Sydney Metro average ($14609)

There is a high concentration of professional workers in the centrersquos Main Trade Area owing to the abundance of sizeable commercial and government employers in the area 69 who own their own home or are paying off a mortgage while 32 of households are families with children under 15

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 11 - Link To Disclaimer

Link to Trade Area Map

477 131155 m2 $10943 m 3304NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Bondi Junction is one of Sydneyrsquos iconic retail destinations Situated in the heart of the Eastern Suburbs one of the cityrsquos most desirable areas the centre is only 6 kilometres from the Sydney CBD Servicing a trade area population in excess of 440000 the centre is one of the strongest performers in the Scentre Group portfolio with 2017 retail sales totalling $109 billion

The centre is defined by a premium retail offer that caters to its discerning style conscious clientele International luxury brands sit alongside local designers and some of the most coveted high street brands in the world The retail mix is complemented by a customer service offer that includes valet parking a styling suite lsquohandsfreersquo shopping and a concierge service

The centrersquos Total Trade Area spend was estimated at $78 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $38 billion

Average household income in 2016 in the Total Trade Area was $120703 per annum which is 8 higher than the Sydney Metro average ($112106) with a high retail spend per capita of $17694 per annum 21 above the Sydney Metro average ($14609)

The Total Trade Area includes large pockets of high density living with 63 of households being flats units or apartments Workers from the trade area skew towards managersprofessionals and there is also a higher proportion of younger residents aged between 25-39 years compared with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 28 ha

Car Park Spaces 3304

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $31436

Fair Value ($ million) $31436

Valuation Date Dec 17

Retail Capitalisation Rate 425

Centre Opened 1970

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10943

Annual Sales Growth 26

Specialty Sales $15956 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $74

Population 195755 441098

Anchor Retailers

GLA

Myer 17887 136

David Jones 19234 147

Target 5311 40

Coles 4758 36

Woolworths 3750 29

Cinemas 6719 51

Harvey Norman 1500 11

Major Tenant Total 59158 451

BONDI JUNCTION NSW500 OXFORD STREET BONDI JUNCTION NSW 2022

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 12 - Link To Disclaimer

Link to Trade Area Map

237 63215 m2 $4748 m 3014NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 3014

Value

Acquisition Date 1992

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1966

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4748

Annual Sales Growth -02

Specialty Sales $11428 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $65

Population 240829 454817

Anchor Retailers

GLA

David Jones 14658 232

Target 5933 94

KMart 6121 97

Coles 3919 62

Woolworths 3625 57

Cinemas 5697 90

Major Tenant Total 39953 632

BURWOOD NSW100 BURWOOD ROAD BURWOOD NSW 2134

Westfield Burwood is centrally located within Sydneyrsquos Inner West approximately 12 kilometres from the CBD Strategically positioned within easy reach of Burwood Railway Station on the bustling commercial strip the centre caters to a trade area population in excess of 454000 residents

The Total Trade Area retail spend is estimated at $65 billion while the Main Trade Area spend estimated to be $35 billion

Westfield Burwoodrsquos spend per capita for the Main Trade Area is estimated at $14717 which is broadly in line with the Sydney Metro average ($14609)

The centrersquos catchment area has a diverse population with 49 of the Main Trade Area born outside Australia and 36 born in Asia A high proportion of workers are professionals or other white collar workers and there are pockets of high density living with nearly 49 of homes being flats units or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 13 - Link To Disclaimer

Link to Trade Area Map

411 136609 m2 $8933 m 5897NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Carindale Property Trust (50)

APPF (50)

Centre Manager Scentre Group

Site Area 158 ha

Car Park Spaces 5897

Value

Acquisition Date 1999

Fair Value ($ million) SCG Share $8136

Fair Value ($ million) $16272

Valuation Date Dec 17a

Retail Capitalisation Rate 525

Centre Opened 1979

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8963

Annual Sales Growth 09

Specialty Sales $11150 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $93

Population 270989 663470

Anchor Retailers

GLA

Myer 20840 153

David Jones 15246 112

BIG W 8527 63

Target 8020 59

Harvey Norman 4814 35

Coles 4167 31

Woolworths 3971 29

Cinemas 3805 28

Harris Scarfe 2589 19

Aldi 1672 12

Major Tenant Total 73651 540

CARINDALE QLD1151 CREEK ROAD CARINDALE QLD 4152

Scentre Group has 566 interest in CPT

Westfield Carindale is situated in an affluent quarter of Brisbanersquos South Eastern Suburbs approximately 12 kilometres from the Brisbane CBD The centre services a trade area population of approximately 663000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access

One of the cityrsquos leading retail destinations Carindale boasts a comprehensive fashion offer that includes Sas amp Bide Leona Edmiston and Chanel Beaute The adjoining Carindale Home amp Leisure Centre complements the retail mix with bulky goods retail

The total retail spend by the Westfield Carindale Total Trade Area in 2017 was estimated at $93 billion while the total retail spend by the Main Trade Area was estimated at $39 billion

The centrersquos total annual retail spend per capita is estimated at $14059 4 above the Brisbane Metro average ($13563) while the total annual retail spend per capita for the Main Trade Area is estimated to be $14548 which is 7 above the Brisbane Metro average ($13563)

Westfield Carindalersquos Main Trade Area had a high average household income in 2016 of $110814 per annum which is 11 above the Brisbane Metro average ($100034) Household composition is in line with the Brisbane Metro average with 29 being families with children under 15 years of age

In the Main Trade Area 78 of workers are professional or other white collar workers which is above the Brisbane Metro average of 70

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 10 - Link To Disclaimer

Link to Trade Area Map

282 96401 m2 $5385 m 2880NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 83 ha

Car Park Spaces 2880

Value

Acquisition Date 1986

Fair Value ($ million) SCG Share $9350

Fair Value ($ million) $9350

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1978

Centre Redeveloped 2011

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5385

Annual Sales Growth -14

Specialty Sales $8683 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $78

Population 194658 448155

Anchor Retailers

GLA

Myer 17639 183

Harris Scarfe 2103 22

Target 6807 71

KMart 7654 79

Coles 4151 43

Woolworths 4820 50

Aldi 1525 16

Cinemas 4380 45

Toys R Us 3445 36

Dan Murphys 1328 14

Major Tenant Total 53852 559

BELCONNEN ACTBENJAMIN WAY BELCONNEN ACT 2617

Located in the northern suburbs of Canberra Westfield Belconnen was the largest shopping centre in the southern hemisphere when it opened in 1978 and is still one of Canberrarsquos biggest The centre is located 13 kilometres from the Canberra CBD and services a total trade area population of approximately 448000 residents

The centrersquos Total Trade Area retail spend was estimated at $78 billion in 2017 while the total retail spend for the Main Trade Area was estimated at $34 billion

The Main Trade Area was characterised at the 2016 Census by a high average household income of $116925 per annum 4 above the Sydney Metro average ($112106)

The total annual retail spend per capita in the Main Trade Area is estimated at $17072 17 above the Sydney Metro average ($14609)

There is a high concentration of professional workers in the centrersquos Main Trade Area owing to the abundance of sizeable commercial and government employers in the area 69 who own their own home or are paying off a mortgage while 32 of households are families with children under 15

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 11 - Link To Disclaimer

Link to Trade Area Map

477 131155 m2 $10943 m 3304NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Bondi Junction is one of Sydneyrsquos iconic retail destinations Situated in the heart of the Eastern Suburbs one of the cityrsquos most desirable areas the centre is only 6 kilometres from the Sydney CBD Servicing a trade area population in excess of 440000 the centre is one of the strongest performers in the Scentre Group portfolio with 2017 retail sales totalling $109 billion

The centre is defined by a premium retail offer that caters to its discerning style conscious clientele International luxury brands sit alongside local designers and some of the most coveted high street brands in the world The retail mix is complemented by a customer service offer that includes valet parking a styling suite lsquohandsfreersquo shopping and a concierge service

The centrersquos Total Trade Area spend was estimated at $78 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $38 billion

Average household income in 2016 in the Total Trade Area was $120703 per annum which is 8 higher than the Sydney Metro average ($112106) with a high retail spend per capita of $17694 per annum 21 above the Sydney Metro average ($14609)

The Total Trade Area includes large pockets of high density living with 63 of households being flats units or apartments Workers from the trade area skew towards managersprofessionals and there is also a higher proportion of younger residents aged between 25-39 years compared with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 28 ha

Car Park Spaces 3304

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $31436

Fair Value ($ million) $31436

Valuation Date Dec 17

Retail Capitalisation Rate 425

Centre Opened 1970

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10943

Annual Sales Growth 26

Specialty Sales $15956 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $74

Population 195755 441098

Anchor Retailers

GLA

Myer 17887 136

David Jones 19234 147

Target 5311 40

Coles 4758 36

Woolworths 3750 29

Cinemas 6719 51

Harvey Norman 1500 11

Major Tenant Total 59158 451

BONDI JUNCTION NSW500 OXFORD STREET BONDI JUNCTION NSW 2022

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 12 - Link To Disclaimer

Link to Trade Area Map

237 63215 m2 $4748 m 3014NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 3014

Value

Acquisition Date 1992

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1966

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4748

Annual Sales Growth -02

Specialty Sales $11428 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $65

Population 240829 454817

Anchor Retailers

GLA

David Jones 14658 232

Target 5933 94

KMart 6121 97

Coles 3919 62

Woolworths 3625 57

Cinemas 5697 90

Major Tenant Total 39953 632

BURWOOD NSW100 BURWOOD ROAD BURWOOD NSW 2134

Westfield Burwood is centrally located within Sydneyrsquos Inner West approximately 12 kilometres from the CBD Strategically positioned within easy reach of Burwood Railway Station on the bustling commercial strip the centre caters to a trade area population in excess of 454000 residents

The Total Trade Area retail spend is estimated at $65 billion while the Main Trade Area spend estimated to be $35 billion

Westfield Burwoodrsquos spend per capita for the Main Trade Area is estimated at $14717 which is broadly in line with the Sydney Metro average ($14609)

The centrersquos catchment area has a diverse population with 49 of the Main Trade Area born outside Australia and 36 born in Asia A high proportion of workers are professionals or other white collar workers and there are pockets of high density living with nearly 49 of homes being flats units or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 13 - Link To Disclaimer

Link to Trade Area Map

411 136609 m2 $8933 m 5897NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Carindale Property Trust (50)

APPF (50)

Centre Manager Scentre Group

Site Area 158 ha

Car Park Spaces 5897

Value

Acquisition Date 1999

Fair Value ($ million) SCG Share $8136

Fair Value ($ million) $16272

Valuation Date Dec 17a

Retail Capitalisation Rate 525

Centre Opened 1979

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8963

Annual Sales Growth 09

Specialty Sales $11150 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $93

Population 270989 663470

Anchor Retailers

GLA

Myer 20840 153

David Jones 15246 112

BIG W 8527 63

Target 8020 59

Harvey Norman 4814 35

Coles 4167 31

Woolworths 3971 29

Cinemas 3805 28

Harris Scarfe 2589 19

Aldi 1672 12

Major Tenant Total 73651 540

CARINDALE QLD1151 CREEK ROAD CARINDALE QLD 4152

Scentre Group has 566 interest in CPT

Westfield Carindale is situated in an affluent quarter of Brisbanersquos South Eastern Suburbs approximately 12 kilometres from the Brisbane CBD The centre services a trade area population of approximately 663000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access

One of the cityrsquos leading retail destinations Carindale boasts a comprehensive fashion offer that includes Sas amp Bide Leona Edmiston and Chanel Beaute The adjoining Carindale Home amp Leisure Centre complements the retail mix with bulky goods retail

The total retail spend by the Westfield Carindale Total Trade Area in 2017 was estimated at $93 billion while the total retail spend by the Main Trade Area was estimated at $39 billion

The centrersquos total annual retail spend per capita is estimated at $14059 4 above the Brisbane Metro average ($13563) while the total annual retail spend per capita for the Main Trade Area is estimated to be $14548 which is 7 above the Brisbane Metro average ($13563)

Westfield Carindalersquos Main Trade Area had a high average household income in 2016 of $110814 per annum which is 11 above the Brisbane Metro average ($100034) Household composition is in line with the Brisbane Metro average with 29 being families with children under 15 years of age

In the Main Trade Area 78 of workers are professional or other white collar workers which is above the Brisbane Metro average of 70

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 11 - Link To Disclaimer

Link to Trade Area Map

477 131155 m2 $10943 m 3304NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Bondi Junction is one of Sydneyrsquos iconic retail destinations Situated in the heart of the Eastern Suburbs one of the cityrsquos most desirable areas the centre is only 6 kilometres from the Sydney CBD Servicing a trade area population in excess of 440000 the centre is one of the strongest performers in the Scentre Group portfolio with 2017 retail sales totalling $109 billion

The centre is defined by a premium retail offer that caters to its discerning style conscious clientele International luxury brands sit alongside local designers and some of the most coveted high street brands in the world The retail mix is complemented by a customer service offer that includes valet parking a styling suite lsquohandsfreersquo shopping and a concierge service

The centrersquos Total Trade Area spend was estimated at $78 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $38 billion

Average household income in 2016 in the Total Trade Area was $120703 per annum which is 8 higher than the Sydney Metro average ($112106) with a high retail spend per capita of $17694 per annum 21 above the Sydney Metro average ($14609)

The Total Trade Area includes large pockets of high density living with 63 of households being flats units or apartments Workers from the trade area skew towards managersprofessionals and there is also a higher proportion of younger residents aged between 25-39 years compared with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 28 ha

Car Park Spaces 3304

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $31436

Fair Value ($ million) $31436

Valuation Date Dec 17

Retail Capitalisation Rate 425

Centre Opened 1970

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10943

Annual Sales Growth 26

Specialty Sales $15956 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $74

Population 195755 441098

Anchor Retailers

GLA

Myer 17887 136

David Jones 19234 147

Target 5311 40

Coles 4758 36

Woolworths 3750 29

Cinemas 6719 51

Harvey Norman 1500 11

Major Tenant Total 59158 451

BONDI JUNCTION NSW500 OXFORD STREET BONDI JUNCTION NSW 2022

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 12 - Link To Disclaimer

Link to Trade Area Map

237 63215 m2 $4748 m 3014NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 3014

Value

Acquisition Date 1992

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1966

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4748

Annual Sales Growth -02

Specialty Sales $11428 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $65

Population 240829 454817

Anchor Retailers

GLA

David Jones 14658 232

Target 5933 94

KMart 6121 97

Coles 3919 62

Woolworths 3625 57

Cinemas 5697 90

Major Tenant Total 39953 632

BURWOOD NSW100 BURWOOD ROAD BURWOOD NSW 2134

Westfield Burwood is centrally located within Sydneyrsquos Inner West approximately 12 kilometres from the CBD Strategically positioned within easy reach of Burwood Railway Station on the bustling commercial strip the centre caters to a trade area population in excess of 454000 residents

The Total Trade Area retail spend is estimated at $65 billion while the Main Trade Area spend estimated to be $35 billion

Westfield Burwoodrsquos spend per capita for the Main Trade Area is estimated at $14717 which is broadly in line with the Sydney Metro average ($14609)

The centrersquos catchment area has a diverse population with 49 of the Main Trade Area born outside Australia and 36 born in Asia A high proportion of workers are professionals or other white collar workers and there are pockets of high density living with nearly 49 of homes being flats units or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 13 - Link To Disclaimer

Link to Trade Area Map

411 136609 m2 $8933 m 5897NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Carindale Property Trust (50)

APPF (50)

Centre Manager Scentre Group

Site Area 158 ha

Car Park Spaces 5897

Value

Acquisition Date 1999

Fair Value ($ million) SCG Share $8136

Fair Value ($ million) $16272

Valuation Date Dec 17a

Retail Capitalisation Rate 525

Centre Opened 1979

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8963

Annual Sales Growth 09

Specialty Sales $11150 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $93

Population 270989 663470

Anchor Retailers

GLA

Myer 20840 153

David Jones 15246 112

BIG W 8527 63

Target 8020 59

Harvey Norman 4814 35

Coles 4167 31

Woolworths 3971 29

Cinemas 3805 28

Harris Scarfe 2589 19

Aldi 1672 12

Major Tenant Total 73651 540

CARINDALE QLD1151 CREEK ROAD CARINDALE QLD 4152

Scentre Group has 566 interest in CPT

Westfield Carindale is situated in an affluent quarter of Brisbanersquos South Eastern Suburbs approximately 12 kilometres from the Brisbane CBD The centre services a trade area population of approximately 663000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access

One of the cityrsquos leading retail destinations Carindale boasts a comprehensive fashion offer that includes Sas amp Bide Leona Edmiston and Chanel Beaute The adjoining Carindale Home amp Leisure Centre complements the retail mix with bulky goods retail

The total retail spend by the Westfield Carindale Total Trade Area in 2017 was estimated at $93 billion while the total retail spend by the Main Trade Area was estimated at $39 billion

The centrersquos total annual retail spend per capita is estimated at $14059 4 above the Brisbane Metro average ($13563) while the total annual retail spend per capita for the Main Trade Area is estimated to be $14548 which is 7 above the Brisbane Metro average ($13563)

Westfield Carindalersquos Main Trade Area had a high average household income in 2016 of $110814 per annum which is 11 above the Brisbane Metro average ($100034) Household composition is in line with the Brisbane Metro average with 29 being families with children under 15 years of age

In the Main Trade Area 78 of workers are professional or other white collar workers which is above the Brisbane Metro average of 70

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 12 - Link To Disclaimer

Link to Trade Area Map

237 63215 m2 $4748 m 3014NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 3014

Value

Acquisition Date 1992

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1966

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4748

Annual Sales Growth -02

Specialty Sales $11428 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $35 $65

Population 240829 454817

Anchor Retailers

GLA

David Jones 14658 232

Target 5933 94

KMart 6121 97

Coles 3919 62

Woolworths 3625 57

Cinemas 5697 90

Major Tenant Total 39953 632

BURWOOD NSW100 BURWOOD ROAD BURWOOD NSW 2134

Westfield Burwood is centrally located within Sydneyrsquos Inner West approximately 12 kilometres from the CBD Strategically positioned within easy reach of Burwood Railway Station on the bustling commercial strip the centre caters to a trade area population in excess of 454000 residents

The Total Trade Area retail spend is estimated at $65 billion while the Main Trade Area spend estimated to be $35 billion

Westfield Burwoodrsquos spend per capita for the Main Trade Area is estimated at $14717 which is broadly in line with the Sydney Metro average ($14609)

The centrersquos catchment area has a diverse population with 49 of the Main Trade Area born outside Australia and 36 born in Asia A high proportion of workers are professionals or other white collar workers and there are pockets of high density living with nearly 49 of homes being flats units or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 13 - Link To Disclaimer

Link to Trade Area Map

411 136609 m2 $8933 m 5897NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Carindale Property Trust (50)

APPF (50)

Centre Manager Scentre Group

Site Area 158 ha

Car Park Spaces 5897

Value

Acquisition Date 1999

Fair Value ($ million) SCG Share $8136

Fair Value ($ million) $16272

Valuation Date Dec 17a

Retail Capitalisation Rate 525

Centre Opened 1979

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8963

Annual Sales Growth 09

Specialty Sales $11150 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $93

Population 270989 663470

Anchor Retailers

GLA

Myer 20840 153

David Jones 15246 112

BIG W 8527 63

Target 8020 59

Harvey Norman 4814 35

Coles 4167 31

Woolworths 3971 29

Cinemas 3805 28

Harris Scarfe 2589 19

Aldi 1672 12

Major Tenant Total 73651 540

CARINDALE QLD1151 CREEK ROAD CARINDALE QLD 4152

Scentre Group has 566 interest in CPT

Westfield Carindale is situated in an affluent quarter of Brisbanersquos South Eastern Suburbs approximately 12 kilometres from the Brisbane CBD The centre services a trade area population of approximately 663000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access

One of the cityrsquos leading retail destinations Carindale boasts a comprehensive fashion offer that includes Sas amp Bide Leona Edmiston and Chanel Beaute The adjoining Carindale Home amp Leisure Centre complements the retail mix with bulky goods retail

The total retail spend by the Westfield Carindale Total Trade Area in 2017 was estimated at $93 billion while the total retail spend by the Main Trade Area was estimated at $39 billion

The centrersquos total annual retail spend per capita is estimated at $14059 4 above the Brisbane Metro average ($13563) while the total annual retail spend per capita for the Main Trade Area is estimated to be $14548 which is 7 above the Brisbane Metro average ($13563)

Westfield Carindalersquos Main Trade Area had a high average household income in 2016 of $110814 per annum which is 11 above the Brisbane Metro average ($100034) Household composition is in line with the Brisbane Metro average with 29 being families with children under 15 years of age

In the Main Trade Area 78 of workers are professional or other white collar workers which is above the Brisbane Metro average of 70

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 13 - Link To Disclaimer

Link to Trade Area Map

411 136609 m2 $8933 m 5897NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Carindale Property Trust (50)

APPF (50)

Centre Manager Scentre Group

Site Area 158 ha

Car Park Spaces 5897

Value

Acquisition Date 1999

Fair Value ($ million) SCG Share $8136

Fair Value ($ million) $16272

Valuation Date Dec 17a

Retail Capitalisation Rate 525

Centre Opened 1979

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8963

Annual Sales Growth 09

Specialty Sales $11150 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $93

Population 270989 663470

Anchor Retailers

GLA

Myer 20840 153

David Jones 15246 112

BIG W 8527 63

Target 8020 59

Harvey Norman 4814 35

Coles 4167 31

Woolworths 3971 29

Cinemas 3805 28

Harris Scarfe 2589 19

Aldi 1672 12

Major Tenant Total 73651 540

CARINDALE QLD1151 CREEK ROAD CARINDALE QLD 4152

Scentre Group has 566 interest in CPT

Westfield Carindale is situated in an affluent quarter of Brisbanersquos South Eastern Suburbs approximately 12 kilometres from the Brisbane CBD The centre services a trade area population of approximately 663000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access

One of the cityrsquos leading retail destinations Carindale boasts a comprehensive fashion offer that includes Sas amp Bide Leona Edmiston and Chanel Beaute The adjoining Carindale Home amp Leisure Centre complements the retail mix with bulky goods retail

The total retail spend by the Westfield Carindale Total Trade Area in 2017 was estimated at $93 billion while the total retail spend by the Main Trade Area was estimated at $39 billion

The centrersquos total annual retail spend per capita is estimated at $14059 4 above the Brisbane Metro average ($13563) while the total annual retail spend per capita for the Main Trade Area is estimated to be $14548 which is 7 above the Brisbane Metro average ($13563)

Westfield Carindalersquos Main Trade Area had a high average household income in 2016 of $110814 per annum which is 11 above the Brisbane Metro average ($100034) Household composition is in line with the Brisbane Metro average with 29 being families with children under 15 years of age

In the Main Trade Area 78 of workers are professional or other white collar workers which is above the Brisbane Metro average of 70

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 14 - Link To Disclaimer

Link to Trade Area Map

290 82359 m2 $5020 m 4300NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 216 ha

Car Park Spaces 4300

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $10800

Fair Value ($ million) $10800

Valuation Date Jun 16

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1999

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5020

Annual Sales Growth -62

Specialty Sales $10860 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $44 $92

Population 309998 630916

Anchor Retailers

GLA

Myer 11944 145

Target 7760 94

KMart 6993 85

Coles 4041 49

Woolworths 4352 53

Cinemas 8362 102

Major Tenant Total 43452 528

CAROUSEL WA1382 ALBANY HWY CANNINGTON WA 6107

DEVELOPMENT Westfield Carousel is located on the Albany Highway in Perthrsquos south-east just 12 kilometres from the CBD One of the largest shopping centres in Perth Carousel caters to nearly one third of the cityrsquos diverse population with the total trade area population exceeding 630000 The centre also benefits from close proximity to two of Perthrsquos major university campuses Curtin Universityrsquos Bentley Campus and the South Street Campus of Murdoch University

A $350 million redevelopment currently underway will deliver a redefined retail dining and social destination to Perthrsquos south east The completed centre will feature a new David Jones department store more than 60 additional specialty retail outlets as well as a new fashion precinct and a landscaped rooftop dining and entertainment quarter On completion anticipated in Q4 2018 Westfield Carousel is expected to become the largest centre in Western Australia

In 2017 the total retail spend by the Westfield Carousel Total Trade Area was estimated at $93 billion with the total retail spend per capita for the Total Trade Area estimated at $14660 in 2017 broadly in line with the Perth Metro average ($14971) Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 15 - Link To Disclaimer

Link to Trade Area Map

271 80842 m2 $5924 m 2831NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 23 ha

Car Park Spaces 2831

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $13671

Fair Value ($ million) $13671

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1987

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5924

Annual Sales Growth -38

Specialty Sales $11409 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $39 $84

Population 218327 468691

Anchor Retailers

GLA

Myer 23429 290

Target 8757 108

Coles 2217 27

Aldi 1668 21

Cinemas 5301 66

Major Tenant Total 41371 512

CHATSWOOD NSW1 ANDERSON STREET CHATSWOOD NSW 2067

Westfield Chatswood is located on Sydneyrsquos affluent North Shore approximately 11 kilometres from the CBD Conveniently situated with easy reach of Chatswood train station a major bus interchange and the Pacific Highway the centre caters to a trade area population of almost 470000 in addition to a sizeable office workforce

A redevelopment completed in 2015 saw the addition of 40 new retailers including a number of international brands and a new Asian dining market

The total annual retail spend per capita for the Westfield Chatswood Total Trade Area is estimated at $17667 which is 24 above the Sydney Metro average ($14609) and the highest in the Scentre Group portfolio The total annual retail spend per capita for the Westfield Chatswood Main Trade Area is estimated at $17690 which is also 24 above the Sydney Metro average ($14609)

The total retail spend by the Westfield Chatswood Total Trade Area in 2017 was estimated at $84 billion and the total retail spend by the Main Trade Area was estimated at $39 billion

Average household income of the Main Trade Area in 2016 was $137230 per annum which is 22 above the Sydney Metro average ($112106) while 40 of households had incomes over $156000 per annum

90 of the trade arearsquos workers are managers professionals or other white collar workers which is well above the Sydney Metro average of 75

The centre has a culturally diverse market with 40 of the Main Trade Area population being born outside of Australia including 24 in Asia

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 16 - Link To Disclaimer

Link to Trade Area Map

496 175553 m2 $9300 m 7200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 221 ha

Car Park Spaces 6500

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $26150

Fair Value ($ million) $26150

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1957

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9300

Annual Sales Growth -15

Specialty Sales $12833 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $111

Population 312048 780110

Anchor Retailers

GLA

Myer 15528 88

David Jones 12573 72

Harris Scarfe 4043 23

Target 7791 44

KMart 6439 37

Big W 8157 46

Coles 4023 23

Woolworths 3975 23

Cinemas 7372 42

Dan Murphys 1243 07

Major Tenant Total 71144 405

CHERMSIDE QLDGYMPIE ROAD amp HAMILTON ROAD CHERMSIDE QLD 4032

Westfield Chermside located approximately 10 kilometres north of the Brisbane CBD is one of the strongest performing assets within the Scentre Group portfolio The centre caters to a sizeable trade area population of more than 780000 a figure that represents approximately 32 of Brisbanersquos population

A $355 million redevelopment was completed in mid-2017 making Chermside the largest centre in the Scentre Group portfolio through the creation of an additional 33000 square metres of retail space Approximately 95 new stores were added to the retail mix including Brisbanersquos first Sephora HampM Zara Uniqlo and a host of other local and international brands A new leisure and dining precinct set in a resort-style landscape features a selection boutique cafes and al fresco restaurants and has quickly become one of the cityrsquos most attractive dining destinations

In 2017 the total retail spend in the Westfield Chermside Total Trade Area was estimated at $111 billion while the total retail spend in the Main Trade Area was estimated at $45 billion The total annual retail spend per capita is estimated at $ $14324 for the Main Trade Areawhich is 6 above the Brisbane Metro average ($13563) This is broadly in line with the Sydney and Melbourne Metro averages ($14609 and $14247 respectively)

Westfield Chermsidersquos Main Trade Area average household income in 2016 was $104370 per annum which is 4 above the Brisbane Metro average ($100034) with 21 of households earning more than $156000 The area also has a high proportion of workers who are managers or other white collar workers (76) compared to the Brisbane Metro average of 70

Based on its strong early trading performance Westfield Chermside is forecast to generate more than $11 billion in total sales per annum

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 17 - Link To Disclaimer

Link to Trade Area Map

429 122152 m2 $9374 m 4806NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

MampG Asia Property Fund (25)

ISPT (25)

Centre Manager Scentre Group

Site Area 143 ha

Car Park Spaces 4806

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $12000

Fair Value ($ million) $24000

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1969

Centre Redeveloped 2009

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9374

Annual Sales Growth -06

Specialty Sales $14042 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $51 $111

Population 333231 723712

Anchor Retailers

GLA

Myer 18581 152

David Jones 14846 122

Target 7574 62

Big W 8221 67

Coles 4182 34

Woolworths 4278 35

Cinemas 5208 43

Toys R Us 3900 32

Major Tenant Total 66791 547

DONCASTER VICDONCASTER ROAD VICTORIA 3108

Westfield Doncaster is a world class shopping and entertainment destination situated 17 kilometres from the Melbourne CBD The centre caters to a trade area population of almost 724000 residents

As one of Melbournersquos largest shopping centres Doncaster is home to one of the cityrsquos most comprehensive fashion offers complemented by valet parking electric car charging and styling services

The total retail spend in Westfield Doncasterrsquos Total Trade Area in 2017 was estimated at $111 billion while the total retail spend in the Main Trade Area is estimated at $51 billion

The total annual retail spend per capita for the Westfield Doncaster Total Trade area is estimated at $15299 which is 7 above the Melbourne Metro average ($14247) The average household income in 2016 in the Main Trade area was $108934 per annum which was 9 above the Melbourne Metro average ($99752)

There are high levels of home ownership in the area with 78 of households in the Main Trade Area owning their home or paying a mortgage and also a high proportion (83) of all workers in the area are managers professionals or other white collar workers

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 18 - Link To Disclaimer

Link to Trade Area Map

454 178276 m2 $10356 m 6493NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 461 ha

Car Park Spaces 6493

Value

Acquisition Date 1995

Fair Value ($ million) SCG Share $20900

Fair Value ($ million) $20900

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1970

Centre Redeveloped 2012

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $10356

Annual Sales Growth 34

Specialty Sales $10242 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $46 $68

Population 359097 533634

Anchor Retailers

GLA

Myer 12000 67

Harris Scarfe 2900 16

Target 8460 47

KMart 7998 45

Big W 8052 45

Coles 4203 24

Woolworths 4303 24

Aldi 1739 10

Cinemas 9240 52

Toys R Us 3317 19

Harvey Norman 7030 39

KMart Garden 4177 23

Major Tenant Total 73418 412

FOUNTAIN GATE VIC352 PRINCES HIGHWAY FOUNTAIN GATE VIC 3805

Westfield Fountain Gate is located in one of Victoriarsquos fastest growing municipalities approximately 45 kilometres south-east of the Melbourne CBD The centre caters to a trade area population of approximately 533000 residents and is one of the largest shopping centres in Australia

Fountain Gate is one of the few shopping centres in Australia to record annual sales of more than $1 billion with $104 billion achieved in 2017

The total retail spend by the Westfield Fountain Gate Total Trade Area is estimated at $68 billion with the total retail spend by the Main Trade Area is estimated at $46 billion

There is a high level of home ownership in the local community with 78 of residents in the Main Trade Area owning their own homes or paying a mortgage a figure well above the Melbourne Metro average of 69 There is also a high proportion of family households 38 of households are families with children under the age of 15 compared to the Melbourne average of 28

The centre serves a diverse community with 62 of residents employed as managers professionals or other white collar occupations while 38 of residents work in blue collar roles

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 19 - Link To Disclaimer

Link to Trade Area Map

413 140605 m2 $7906 m 6254NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Garden City is located in a thriving regional hub 12 kilometres south of the Brisbane CBD Well served by major arterial roads the centre sits adjacent to a Queensland State Government-owned bus terminal servicing Brisbane and the Gold Coast and caters to a sizable trade area population of over 608000 residents

The total retail spend by the Westfield Garden City Total Trade Area in 2017 was estimated at $81 billion while the total retail spend by the Main Trade Area was estimated at $37 billion

The total annual retail spend per capita for the Westfield Garden City Total Trade Area is estimated at $13354 per annum in 2017 which is broadly in line with the Brisbane Metro average ($13563)

The centrersquos community is culturally diverse with 39 of the Main Trade Area population born in a country outside Australia and 26 born in Asia

A major redevelopment completed in 2014 included the addition of Myer Target and more than 100 new specialty retailers as well as a new dining entertainment and leisure precinct in a resort-style setting

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 244 ha

Car Park Spaces 6254

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $17050

Fair Value ($ million) $17050

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7906

Annual Sales Growth 16

Specialty Sales $10422 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $81

Population 277038 608492

Anchor Retailers

GLA

Myer 12898 92

David Jones 14331 102

Target 6936 49

KMart 7119 51

Big W 10050 71

Coles 3615 26

Woolworths 4285 30

Aldi 1516 11

Cinemas 9012 64

Toys R Us 2222 16

Harvey Norman 6220 44

Major Tenant Total 78204 556

GARDEN CITY QLDCNR LOGAN amp KESSELS ROAD MOUNT GRAVATT-CAPALABA ROAD UPPER MOUNT GRAVATT QLD 4122

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 20 - Link To Disclaimer

Link to Trade Area Map

178 51643 m2 $2743 m 1714NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Geelong is located in the heart Victoriarsquos second largest city Servicing the Surf Coast and the Bellarine Peninsula and a trade area population of approximately 287000 residents the centre is the regionrsquos premier retail destination

The total retail spend by the Westfield Geelong Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion

The total annual retail spend per capita for the Westfield Geelong Total Trade Area is estimated to be $14182 which is broadly in line with the Melbourne Metro average ($14247)

High rates of home ownership are found in the Main Trade Area with 70 of residents owning their homes or paying a mortgage A quarter (25) of households are families with children under 15 years of age broadly in line with the Melbourne Metro average

The centre serves a diverse community with 68 of residents employed in managerial professional or other white collar roles and 32 occupying blue collar posts

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 1714

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $2650

Fair Value ($ million) $5300

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1987

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2743

Annual Sales Growth -27

Specialty Sales $8982 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 193274 287478

Anchor Retailers

GLA

Myer 12556 243

Target 8765 170

Big W 7341 142

Coles 3242 63

Major Tenant Total 31904 618

GEELONG VIC95 MALOP STREET GEELONG VIC 3220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 21 - Link To Disclaimer

Link to Trade Area Map

188 44870 m2 $3756 m 2096NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

QIC (50)

Centre Manager Scentre Group

Site Area 309 ha

Car Park Spaces 2096

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $2375

Fair Value ($ million) $4750

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 2005

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3756

Annual Sales Growth -12

Specialty Sales $12416 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $23 $41

Population 169198 313079

Anchor Retailers

GLA

Target 7189 160

KMart 6095 136

Coles 3495 78

Woolworths 3961 88

Aldi 1359 30

Major Tenant Total 22099 493

HELENSVALE QLD129 MILLAROO DRIVE HELENSVALE QLD 4212

Westfield Helensvale is located in a thriving growth corridor of South East Queensland 25 kilometres north-west of Surfers Paradise and 62 kilometres south of Brisbane Strategically located at the junction of two major highways the centre can be accessed easily by the extended trade area population 313000 residents

The centre opened in 2006 as a lsquogreenfieldrsquo development creating a new retail destination on the Gold Coast

The average household income in the Main Trade Area in 2016 was $98230 per annum which was broadly in line with the Brisbane Metro average ($100034)

Household composition skews towards families with 38 of households comprising families with children under 15 years of age a figure that is well above the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 22 - Link To Disclaimer

Link to Trade Area Map

322 99822 m2 $6568 m 3200NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hornsby is located in the leafy northern suburbs of Sydney 26 kilometres from the CBD The centre is easily accessed by road or public transport owing to its proximity to the Pacific Highway and Hornsby Railway Station and serves a trade area population of nearly 243000 residents

The total retail spend by the Westfield Hornsby Total Trade Area in 2017 was estimated at $41 billion while the total retail spend by the Main Trade Area was estimated at $27 billion The total annual retail spend per capita for the Westfield Hornsby Total Trade Area is estimated at $16693 which is 14 above the Sydney Metro average ($14609)

Average household incomes in the Total Trade Area in 2016 were $132263 per annum 18 higher than the Sydney Metro average ($112106) There is also a high proportion of households with incomes over $156000 per annumndash37 compared to the Sydney Metro average of 24

The Total Trade Area also features high rates of home ownership with 81 of residents owning their own homes or paying a mortgage compared to the Sydney average of 64 and a sizeable professional workforce 85 of all workers are managers professionals or other white collar workers compared to the Sydney average of 75

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 66 ha

Car Park Spaces 3200

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $10952

Fair Value ($ million) $10952

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1961

Centre Redeveloped 2001

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6568

Annual Sales Growth 15

Specialty Sales $8771 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $27 $41

Population 161571 242790

Anchor Retailers

GLA

Myer 12422 124

David Jones 14642 147

Target 7598 76

KMart 8000 80

Coles 4080 41

Woolworths 4324 43

Aldi 1357 14

Cinemas 4562 46

Toys R Us 1360 14

Dan Murphys 1300 13

Major Tenant Total 59644 598

HORNSBY NSW236 PACIFIC HWY HORNSBY NSW 2077

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 23 - Link To Disclaimer

Link to Trade Area Map

258 62069 m2 $5429 m 2745NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Hurstville is located approximately 20 kilometres from the CBD in densely populated corner of south-west Sydney Easily accessed by major arterial roads or the Hurstville Railway Station the centre caters to a trade area population of more than 360000 residents

A redevelopment was completed in 2016 with a full centre refurbishment the addition of a new rooftop dining complex and new retailers including Rebel Woolworths supermarket and JB Hi-Fi Home

The total retail spend by the Westfield Hurstville Total Trade Area was estimated at $48 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $28 billion

Hurstville is a culturally diverse community with 44 of the Total Trade Area population born outside Australia compared to the Sydney Metro average of 35 28 of residents were born in Asia

72 of workers in the Total Trade Area are managers professionals or other white collar workers a figure that is broadly in line with the Sydney Metro average

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 36 ha

Car Park Spaces 2745

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4375

Fair Value ($ million) $8750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1978

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5429

Annual Sales Growth 71

Specialty Sales $10555 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $48

Population 207842 360262

Anchor Retailers

GLA

Target 3698 60

KMart 6210 100

Big W 7399 119

Coles 3395 55

Woolworths 5132 83

Aldi 1480 24

Cinemas 3232 52

Dan Murphys 1720 28

Major Tenant Total 32265 520

HURSTVILLE NSWCNR CROSS ST AND PARK RD HURSTVILLE NSW 2220

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 24 - Link To Disclaimer

Link to Trade Area Map

416 141326 m2 $6773 m 6361NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Knox is one of the largest shopping centres in Melbourne Located at the foothills of the Dandenong Ranges approximately 25 kilometres east of the CBD Knox is easily accessed by major arterial roads including the Monash and Eastern Freeways and caters to a trade area population of 466000 people

The total retail spend by the Westfield Knox Total Trade Area was estimated at $67 billion in 2017 and the total retail spend by the Main Trade Area was estimated at $31 billion The total annual retail spend per capita for the Westfield Knox Total Trade Area is estimated at $14358 which is broadly in line with the Melbourne Metro average ($14247)

Westfield Knox trade area residents have high rates of home ownership in the area 82 of residents own their own homes or are paying a mortgage compared to the Melbourne Metro average of 69

The workforce in the Main Trade Area is largely a professional one 71 of workers are employed in white collar occupations with the remaining 29 work in blue collar roles

Ownership amp Site

Centre Owner Scentre Group (50)

State Super (50)

Centre Manager Scentre Group

Site Area 321 ha

Car Park Spaces 6361

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $5765

Fair Value ($ million) $11530

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1977

Centre Redeveloped 2002

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6773

Annual Sales Growth 01

Specialty Sales $9332 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $31 $67

Population 216896 466300

Anchor Retailers

GLA

Myer 18803 133

Harris Scarfe 2763 20

Target 7945 56

KMart 6400 45

Coles 8126 57

Cinemas 8200 58

Toys R Us 3010 21

Harvey Norman 2002 14

Major Tenant Total 57249 405

KNOX VIC425 BURWOOD HWY WANTIRNA SOUTH VIC 3152

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 25 - Link To Disclaimer

Link to Trade Area Map

259 74187 m2 $4701 m 2971NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

DEVELOPMENT Westfield Kotara is located six kilometres from the Newcastle The centre is well served by road bus and rail links and caters to a trade area population of almost 394000

The centre is defined by a strong fashion focus and is home to the only David Jones department store in Newcastle A $160 million redevelopment is currently underway that will see the addition of HampM Zara a new Kmart Toys R Us and JB HiFi stores A redevelopment in 2015 saw the addition of a vibrant rooftop dining and entertainment precinct and a new 8-screen Event Cinemas complex

The total retail spend by the Westfield Kotara Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total annual retail spend per capita for the Westfield Kotara Main Trade Area is estimated at $15054 in 2017 which is 3 above the Sydney Metro average ($14609)

Home ownership in the Main Trade Area is broadly in line with the Sydney Metro average with 68 of households owning their own home or paying a mortgage

Approximately 73 of workers in the Main Trade Area are managers or other professionals a figure that is in line with the Sydney metro average

Anticipated completion Q4 2018

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 84 ha

Car Park Spaces 2971

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $8150

Fair Value ($ million) $8150

Valuation Date Jun 17

Retail Capitalisation Rate 575

Centre Opened 1965

Centre Redeveloped 2015

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4701

Annual Sales Growth -03

Specialty Sales $11087 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $57

Population 212549 393858

Anchor Retailers

GLA

David Jones 15445 208

Target 6350 86

KMart 6979 94

Coles 3107 42

Woolworths 4116 55

Cinemas 4442 60

Toys R Us 3018 41

Major Tenant Total 43457 586

KOTARA NSWNORTHCOTT DRIVE amp PARK AVENUE KOTARA NSW 2289

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 26 - Link To Disclaimer

Link to Trade Area Map

340 83414 m2 $5004 m 3558NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Liverpool is located in the heart of a major commercial centre 35 kilometres south-west of the Sydney CBD Today the centre caters to a trade area population in excess of 634000 residents in the heart of Sydneyrsquos south west which is set for rapid growth over next 20 years

The total retail spend by the Westfield Liverpool Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $38 billion in 2017

In the Main Trade Area 36 of households are families with children under 15 years compared to the Sydney Metro average of 29 Home ownership is in line with the Sydney Metro average with 67 of households owning their own homes or paying a mortgage

The centrersquos Main Trade Area is culturally diverse with 44 of residents born outside Australia compared with the Sydney metro average of 35 Approximately 23 of residents were born in Asia

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 3558

Value

Acquisition Date 1983

Fair Value ($ million) SCG Share $5501

Fair Value ($ million) $11002

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1972

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5004

Annual Sales Growth -27

Specialty Sales $9761 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $76

Population 323289 634554

Anchor Retailers

GLA

Myer 11902 143

Target 8250 99

Big W 8291 99

Coles 3876 46

Woolworths 3659 44

Cinemas 7800 94

Major Tenant Total 43778 525

LIVERPOOL NSWMACQUARIE STREET LIVERPOOL NSW 2170

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 27 - Link To Disclaimer

Link to Trade Area Map

193 45459 m2 $2809 m 2113NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Manukau City is one of the main regional shopping centres in Aucklandrsquos south Strategically located 20 kilometres from the Auckland CBD on one of the cityrsquos primary arterial routes the centre caters to a diverse trade area population of 429000 residents

The total retail spend by the Westfield Manukau City Total Trade Area was estimated at $57 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $36 billion

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 119 ha

Car Park Spaces 2113

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $1890

Fair Value ($ million) $3706

Valuation Date Dec 17

Retail Capitalisation Rate 700

Centre Opened 1976

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $2809

Annual Sales Growth 06

Specialty Sales $11698 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $57

Population 287691 429322

Anchor Retailers

GLA

Farmers 8067 177

Countdown 3704 81

Cinemas 6778 149

Major Tenant Total 18549 408

MANUKAU CITY NZGREAT SOUTH ROAD AND MANUKAU STATION ROAD MANUKAU AUCKLAND 2104 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 28 - Link To Disclaimer

Link to Trade Area Map

332 137101 m2 $8367 m 5549NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Marion is the largest shopping centre in South Australia Located 15 kilometres south of the Adelaide CBD the centre can be accessed conveniently from the city by the Anzac Highway and Morphett Road

The only shopping centre in South Australia to feature two full-line department stores in David Jones and Myer a new fresh food precinct and eatery was completed in 2016 with the addition of 14 specialty retailers

The total retail spend by the Westfield Marion Total Trade Area was estimated at $68 billion in 2017 while the total retail spend by the Main Trade Area is estimated at $42 billion in 2017 The total retail spend per capita for the Westfield Marion Total Trade Area is estimated at $13891 per annum in 2017 which is 3 above the Adelaide Metro average ($13450)

Westfield Marionrsquos Main Trade Area average household income in 2016 was estimated at $84645 per annum which is broadly in line with the Adelaide Metro average ($83984) Home ownership is in line with the Adelaide Metro average with 74 of households owning their own home or paying a mortgage while 74 of workers are managersprofessionals or other white collar workers

In 2016 a new fresh food precinct and eatery was completed that saw the opening of 14 specialty retailers that offer customers a variety of quality produce

Ownership amp Site

Centre Owner Scentre Group (50)

APPF (50)

Centre Manager Scentre Group

Site Area 229 ha

Car Park Spaces 5549

Value

Acquisition Date 1987

Fair Value ($ million) SCG Share $7375

Fair Value ($ million) $14750

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 1968

Centre Redeveloped 1997

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8367

Annual Sales Growth 18

Specialty Sales $11375 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $42 $68

Population 296906 487815

Anchor Retailers

GLA

Myer 13796 101David Jones 13816 101Harris Scarfe 3387 25Target 7413 54KMart 6623 48Big W 7948 58Coles 4400 32Woolworths 4577 33Aldi 1741 13Cinemas 11030 80Bunnings Warehouse 10102 74Dan Murphys 1655 12

Major Tenant Total 86488 631

MARION SA297 DIAGONAL ROAD OAKLANDS PARK SA 5046

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 29 - Link To Disclaimer

Link to Trade Area Map

456 128469 m2 $9494 m 4891NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Miranda is located 30 kilometres from the Sydney CBD in the cityrsquos leafy southern suburbs The largest shopping centre in the area Miranda caters to a trade area population of more than 586000 residents

In 2014 a major redevelopment saw the addition of a new gourmet food market as well a rooftop dining and entertainment precinct incorporating a 10-screen Event Cinemas complex

The total retail spend per capita in the Westfield Miranda Main Trade Area was estimated at $15752 in 2017 8 above the Sydney Metro average ($14609)

Westfield Mirandarsquos Main Trade Area average household income in 2016 was estimated at $114945 per annum which is broadly in line with the Sydney Metro average ($112106) The proportion of households with incomes over $156000 per annum in the Westfield Miranda Main Trade Area was 28 which is above the Sydney Metro average (24)

There are high rates of home ownership in the Main Trade Area with 79 of residents owning their own homes or paying a mortgage

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 73 ha

Car Park Spaces 4891

Value

Acquisition Date 1982

Fair Value ($ million) SCG Share $12705

Fair Value ($ million) $25410

Valuation Date Dec 17

Retail Capitalisation Rate 450

Centre Opened 1964

Centre Redeveloped 2014

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $9494

Annual Sales Growth 22

Specialty Sales $12379 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $38 $86

Population 239556 586921

Anchor Retailers

GLA

Myer 16885 131

David Jones 12590 98

Target 8217 64

Big W 7991 62

Coles 4118 32

Woolworths 4819 38

Aldi 1227 10

Cinemas 6550 51

Toys R Us 2067 16

Major Tenant Total 64464 502

MIRANDA NSW600 KINGSWAY MIRANDA NSW 2228

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 30 - Link To Disclaimer

Link to Trade Area Map

236 60026 m2 $4121 m 2452NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Mt Druitt is located 43 kilometres from the Sydney CBD in the heart of Sydneyrsquos flourishing western suburbs Functioning as the arearsquos town square the centre is well served by public transport and caters to a trade area population of approximately 235000 residents

The total retail spend by the Westfield Mt Druitt Total Trade Area was estimated at $28 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $18 billion

Home ownership is broadly in line with the Sydney Metro average with 64 of residents in the Total Trade Area owning their own homes or paying a mortgage There is a high proportion of families with school age children in the Total Trade Area 23 of the population is under 15 years of age compared to the Sydney Metro average of 19

The Total Trade Area also comprises a mix of professions 59 of workers are managers professionals or other white collar workers with 41 working in blue collar occupations

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 157 ha

Car Park Spaces 2452

Value

Acquisition Date 2000

Fair Value ($ million) SCG Share $3150

Fair Value ($ million) $6300

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1973

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4121

Annual Sales Growth 15

Specialty Sales $8948 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $18 $28

Population 160089 234410

Anchor Retailers

GLA

Target 7281 121

KMart 8571 143

Coles 3702 62

Woolworths 3998 67

Cinemas 4323 72

Major Tenant Total 27875 464

MT DRUITT NSWCNR CARLISLE AVENUE amp LUXFORD ROAD CARLISLE AVE MOUNT DRUITT NSW 2770

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 31 - Link To Disclaimer

Link to Trade Area Map

109 31286 m2 $1348 m 1224NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 30 ha

Car Park Spaces 1224

Value

Acquisition Date 2002

Fair Value ($ million) SCG Share $1418

Fair Value ($ million) $2780

Valuation Date Dec 17

Retail Capitalisation Rate 663

Centre Opened 1988

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $1348

Annual Sales Growth -59

Specialty Sales $11688 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $59 $93

Population 313047 544121

Anchor Retailer

GLA

Countdown 4643 148

Major Tenant Total 4643 148

NEWMARKET NZ277 BROADWAY NEWMARKET AUCKLAND 1023 NEW ZEALAND DEVELOPMENT

Westfield Newmarket is located approximately four kilometres from the Auckland CBD in one of the cityrsquos leading retail districts

A NZ$790 million project started in early 2017 to create a world-class retail and lifestyle destination in the heart of Auckland Incorporating multiple sites over four and half hectares the Broadway site will be home to Aucklandrsquos first David Jones department store a new format Farmers department store Countdown supermarket and more than 230 new specialty stores

On completion the centre will have a gross lettable area of 88150 square metres and will reclaim its position as the largest retail complex in Newmarket catering to a trade area population of almost 544000 residents

In 2017 the total retail spend by the Westfield Newmarket Total Trade Area was estimated at $93 billion while the total retail spend in the Main Trade Area was estimated at $59 billion The total retail spend per capita in the Main Trade Area in 2017 was estimated at $18754 which is 18 above the Auckland Region average ($15866)

At $99447 per annum the average household income in the Main Trade Area in 2013 was 10 above the Auckland Region average ($90799)

Anticipated completion Q4 2019

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $5408 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5408

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 32 - Link To Disclaimer

Link to Trade Area Map

278 85596 m2 $6508 m 4916NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 259 ha

Car Park Spaces 4916

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $4750

Fair Value ($ million) $9500

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 2003

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6508

Annual Sales Growth 09

Specialty Sales $10510 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $51

Population 213667 399691

Anchor Retailers

GLA

Myer 12128 142

Target 7157 84

KMart 6729 79

Big W 8580 100

Coles 4374 51

Woolworths 4049 47

Aldi 1413 17

Cinemas 5385 63

Dan Murphys 1231 14

Major Tenant Total 51046 596

NORTH LAKES QLDCNR ANZAC AVE AND NORTH LAKES DRIVE NORTH LAKES QLD 4509

Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the regionrsquos fastest growing areas The centre caters to a trade area population of nearly 400000 people

A $170 million development project that saw the addition of a new IKEA store and a 60-store retail mall was completed in 2016 The project also saw the addition of a new fresh food market a cinema complex and a casual al fresco dining precinct

The centre is well positioned with direct access to the M1 motorway which links the Sunshine Coast Brisbane and the Gold Coast It is also serviced by the recently opened North Lakes Rail station

In 2017 the total retail spend by the Westfield North Lakes Total Trade Area was estimated at $51 billion while the total retail spend by the Main Trade Area was estimated at $28 billion

In the Main Trade Area 31 of households include children under 15 years of age which is slightly higher than the Brisbane Metro average of 29

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 33 - Link To Disclaimer

Link to Trade Area Map

468 137737 m2 $8345 m 4661NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 4661

Value

Acquisition Date 1993

Fair Value ($ million) SCG Share $10343

Fair Value ($ million) $20686

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1975

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8345

Annual Sales Growth 40

Specialty Sales $12215 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $45 $125

Population 362062 987178

Anchor Retailers

GLA

Myer 28272 205

David Jones 12905 94

Target 8438 61

KMart 6592 48

Coles 2637 19

Woolworths 4622 34

Cinemas 6396 46

Toys R Us 3370 24

Major Tenant Total 73231 532

PARRAMATTA NSW159-175 CHURCH STREET PARRAMATTA NSW 2150

Westfield Parramatta is one of Australiarsquos largest shopping centres and is located in Sydneyrsquos vibrant second city approximately 30 kilometres west of the CBD Strategically positioned in the heart of greater Sydney and benefiting from its proximity to major rail and bus connections and a sizeable office workforce the centre caters to a trade area population in excess of 987000 residents

The total retail spend by the Westfield Parramatta Total Trade Area was estimated at $125 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $45 billion

The centrersquos Main Trade Area is home to a young culturally diverse population 41 of residents are aged 15-39 compared to 36 in the Sydney Metro area Approximately 50 of residents were born outside Australia which is above the Sydney Metro average of 35

A recent remixing project at the centre included an ambience upgrade and facilitated the addition of international mini-majors including Uniqlo and Zara

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 34 - Link To Disclaimer

Link to Trade Area Map

333 91682 m2 $6761 m 3521NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GPT (50)

Centre Manager Scentre Group

Site Area 86 ha

Car Park Spaces 3521

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $7500

Fair Value ($ million) $15000

Valuation Date Dec 17

Retail Capitalisation Rate 475

Centre Opened 1971

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $6761

Annual Sales Growth 11

Specialty Sales $12109 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $30 $64

Population 209583 477549

Anchor Retailers

GLA

Myer 20114 219

Target 7097 77

Big W 8738 95

Woolworths 3795 41

Aldi 1612 18

Cinemas 4785 52

Major Tenant Total 46142 503

PENRITH NSW585 HIGH STREET PENRITH NSW 2750

Westfield Penrith is situated in a regional hub approximately 55 kilometres west of the Sydney CBD at the foot of the popular Blue Mountains Servicing a trade area population of more than 477000 residents the centre benefits from its strategic location in a thriving commercial district as well as its proximity to reliable road and rail links

Westfield Penrithrsquos Main Trade Area features high levels of home ownership and a high proportion of family households

The total retail spend of the centrersquos Total Trade Area was estimated at $64 billion in 2017 while the Main Trade Arearsquos estimated spend was $30 billion

The total retail spend per capita for the Westfield Penrith Main Trade Area is estimated at $14286 per annum in 2017 which is broadly in line with the Sydney Metro average ($14609)

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 35 - Link To Disclaimer

Link to Trade Area Map

WESTFIELD

178 52158 m2 $3518 m 2223NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 509 ha

Car Park Spaces 2223

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2610

Fair Value ($ million) $5220

Valuation Date Dec 17

Retail Capitalisation Rate 525

Centre Opened 2001

Centre Redeveloped 2007

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3518

Annual Sales Growth 38

Specialty Sales $8534 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $36

Population 151613 276894

Anchor Retailers

GLA

KMart 6916 133

Target 6603 127

Woolworths 3950 76

Coles 3600 69

Aldi 1322 25

Major Tenant Total 22391 429

PLENTY VALLEY VIC415 MCDONALDS ROAD MILL PARK VIC 3082 DEVELOPMENT

Westfield Plenty Valley is located on Melbournersquos northern fringes approximately 25 kilometres from the Melbourne CBD Conveniently located adjacent to a recently constructed railway station the centre caters to a trade area population in excess of 276000 residents

An $80 million redevelopment is nearing completion which includes the addition of a new al fresco leisure and dining precinct with around 20 specialty retailers and food operators as well as a Village cinema complex

The total retail spend in the Westfield Plenty Valley Total Trade Area was estimated at $36 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

In the Main Trade Area 38 of households are families with children under 15 years of age well above the Melbourne Metro average of 28 There is also high home ownership with 77 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

67 of workers in the Main Trade Area are managers professionals or other white collar workers with the remaining 33 employed in blue collar occupations

Anticipated completion Q1 2018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 36 - Link To Disclaimer

Link to Trade Area Map

195 55589 m2 $5313 m 2400NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Riccarton is located approximately three kilometres west of the Christchurch CBD The centre is one of the best-performing retail locations in the South Island and serves a trade area population of more than 484000 residents

The total retail spend by the Westfield Riccarton Total Trade Area was estimated at $76 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $59 billion

Total retail spend per capita for the Total Trade Area is $15662 which is also both broadly in line with the Greater Christchurch area average ($15709) Average household income in the Total Trade Area in 2013 was $85322 per annum which was broadly in line with the Greater Christchurch area ($85333)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 81 ha

Car Park Spaces 2400

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $3162

Fair Value ($ million) $6200

Valuation Date Dec 17

Retail Capitalisation Rate 650

Centre Opened 1965

Centre Redeveloped 2008

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5313

Annual Sales Growth 32

Specialty Sales $14557 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $60 $76

Population 374614 484609

Anchor Retailers

GLA

Farmers 7174 129

KMart 6966 125

Pak N Save 6297 113

Cinemas 4136 74

Major Tenant Total 24574 442

RICCARTON NZ129 RICCARTON ROAD RICCARTON CHRISTCHURCH 8041 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 37 - Link To Disclaimer

Link to Trade Area Map

388 129118 m2 $8242 m 5980NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 165 ha

Car Park Spaces 5980

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $8075

Fair Value ($ million) $16150

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1970

Centre Redeveloped 2000

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $8242

Annual Sales Growth -39

Specialty Sales $9369 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $48 $87

Population 316988 587308

Anchor Retailers

GLA

Myer 16078 125

David Jones 14962 116

Harris Scarfe 2848 22

Target 8940 69

KMart 7568 59

Big W 8179 63

Coles 5100 39

Woolworths 4424 34

Aldi 1533 12

Cinemas 7606 59

Major Tenant Total 77238 598

SOUTHLAND VIC1239 NEPEAN HWY CHELTENHAM VIC 3192

Westfield Southland is one of the largest shopping centres in Victoria Located 16 kilometres from the Melbourne CBD the centre is defined by a broad retail offer and caters to a trade area population of 587000 residents

The total retail spend by the Westfield Southland Total Trade Area was estimated at $87 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $48 billion

At $15225 per annum in 2017 the retail spend per capita in the Main Trade Area is 7 higher than the Melbourne Metro average ($14247) Westfield Southlandrsquos Main Trade Area also has a high average annual household income of $106871 per annum in 2016 which is 7 above the Melbourne Metro average There is also a high rate of home ownership with 76 of households owning their own homes or paying a mortgage compared to the Melbourne Metro average of 69

The Main Trade Area is characterised by managers professionals or other white collar workers with 79 of workers falling in to these categories higher than the Melbourne Metro average of 73

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 38 - Link To Disclaimer

172 47013 m2 $3296 m 2395NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield Stirling (formerly Westfield Innaloo) is located in an established suburban area 9 kilometres north-west of the Perth CBD and 4 kilometres from popular Scarborough beach The centre caters to a diverse and sizeable trade area population of approximately 470000 residents

Westfield Stirling is currently home to some of Australiarsquos most well-known retailers A proposed redevelopment will see the centre almost double in size with the addition of a new retail level more than 100 specialty stores and a new David Jones department store A key feature of the project is a landscaped rooftop dining leisure and entertainment precinct incorporating a 14-screen Event Cinemas complex

The total retail spend in the Westfield Stirling Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $34 billion The total annual retail spend per capita in the Total Trade Area is estimated at $15991 which is 7 above the Perth Metro average ($14971)

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 72 ha

Car Park Spaces 2395

Value

Acquisition Date 1996

Fair Value ($ million) SCG Share $3310

Fair Value ($ million) $3310

Valuation Date Jun 17

Retail Capitalisation Rate 625

Centre Opened 1967

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3296

Annual Sales Growth -10

Specialty Sales $8941 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $34 $75

Population 208768 470122

Anchor Retailers

GLA

Target 7806 166

KMart 7701 164

Coles 4021 86

Woolworths 3896 83

Spudshed 4673 99

Major Tenant Total 28097 598

STIRLING WAELLEN STIRLING BLVD INNALOO WA 6018

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

All currency in NZD

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 39 - Link To Disclaimer

Link to Trade Area Map

177 39849 m2 $3470 m 2018NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Westfield St Lukes is situated in the central Auckland suburb of Mt Albert approximately 5 kilometres from the CBD The centre is one of the cityrsquos most established retail destinations and serves a trade area population of almost 416000 residents

The centre is home to some of New Zealandrsquos favourite retailers including Farmers Kmart and Countdown There is also an Event Cinemas complex on site as well approximately 40 apparel footwear and accessories stores

The total retail spend by the Westfield St Lukes Total Trade Area was estimated at $66 billion in 2017 while the total retail spend in the Main Trade Area was estimated at $37 billion The total retail spend per capita in 2017 was estimated at $15986 which is broadly in line with the Auckland Region average ($15866)

Average household income in the Total Trade Area in 2013 was $92092 per annum which was broadly in line with the Auckland Region average ($90799)

Ownership amp Site

Centre Owner Scentre Group (51)

GIC (49)

Centre Manager Scentre Group

Site Area 64 ha

Car Park Spaces 2018

Value

Acquisition Date 1998

Fair Value ($ million) SCG Share $2652

Fair Value ($ million) $5200

Valuation Date Dec 17

Retail Capitalisation Rate 625

Centre Opened 1971

Centre Redeveloped 2003

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3470

Annual Sales Growth 07

Specialty Sales $13125 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $37 $66

Population 229853 415762

Anchor Retailers

GLA

Farmers 7059 177

KMart 6392 160

Countdown 3895 98

Cinemas 3864 97

Major Tenant Total 21210 532

ST LUKES NZ80 ST LUKES ROAD ST LUKES AUCKLAND 1346 NEW ZEALAND

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 40 - Link To Disclaimer

Link to Trade Area Map

337 165965 m2 $11839 m 172NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 32 ha

Car Park Spaces 172

Value

Acquisition Date 2001

Fair Value ($ million) SCG Share $50274

Fair Value ($ million) $50274

Valuation Date Dec 17

Retail Capitalisation Rate1 412

Centre Opened 2010

Centre Redeveloped 2010

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $11839

Annual Sales Growth 16

Specialty Sales $22194 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $320 $755

Population 1910340 5138634

Anchor Retailer

GLA

Myer 46754 282

Major Tenant Total 46754 282

SYDNEY NSWPITT STREET MALL SYDNEY NSW 2000

Retail component 92070 m2

1 Sydney comprises Sydney Central Plaza the Sydney City retail complex and office towers The weighted average capitalisation rate on Westfield Sydney is 461 comprising retail 437 (Sydney City 425 and Sydney Central Plaza 475) and office 533

Westfield Sydney is a world class retail destination in the heart of the Sydney CBD Showcasing the best of local and international retailers the centre combines superior design with premium retail and dining offer Occupying an enviable position on Pitt Street Mall one of Australiarsquos premier retail strips the centre caters to a trade area of more than 5 million peoplemdashthe largest Westfield trade area in the country

Westfield Sydney is defined by a fashion offer that sees the global fashion icons Chanel Fendi Gucci Salvatore Ferragamo Prada and Miu Miu sit alongside some of Australiarsquos leading designers including Sass amp Bide Zimmerman and Morrison There are also a number of first-to-market stores from some of the worldrsquos most sought after brands including Tom Ford Christian Louboutin Givenchy Sephora Microsoft and Nespresso

The Main Trade Area has a high spend per capita on food catering ($3026) The centre caters for this through a broad range of casual dining options throughout the centre This includes an up-market casual dining offer spread over two beautifully designed floors above the fashion retail malls

The total retail spend in Westfield Sydneyrsquos Total Trade Area was estimated at $75 billion in 2017 while the total retail spend in the Main Trade Area was estimated to be $32 billion

Westfield Sydneyrsquos Main Trade Area has a high retail spend per capita of $16763 The centrersquos unique catchment features a high proportion of professionals with 83 of all workers being managers professionals or other white collar workers The catchment is also characterised by large pockets of high density living with 48 of households residing in flats or apartments

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 41 - Link To Disclaimer

Link to Trade Area Map

250 95308 m2 $5027 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (50)

Centre Manager Scentre Group

Site Area 217 ha

Car Park Spaces 4650

Value

Acquisition Date 1988

Fair Value ($ million) SCG Share $4003

Fair Value ($ million) $8006

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1970

Centre Redeveloped 2006

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $5027

Annual Sales Growth -15

Specialty Sales $11105 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $32 $53

Population 239069 413031

Anchor Retailers

GLA

Myer 20061 210

Harris Scarfe 3404 36

Target 7685 81

KMart 6604 69

Big W 8174 86

Coles 3672 39

Woolworths 4650 49

Aldi 1540 16

Cinemas 5027 53

Toys R Us 2045 21

Major Tenant Total 62861 660

TEA TREE PLAZA SA976 NORTH EAST ROAD MODBURY SA 5092

DEVELOPMENT Westfield Tea Tree Plaza is located in Adelaidersquos north-eastern suburbs approximately 15 kilometres from the CBD The centre caters to a trade area population in excess of 413000 residents

A $50 million redevelopment currently underway will deliver a new dining and entertainment precinct to Westfield Tea Tree Plaza with 10 new restaurants and an expanded and upgraded Hoyts cinema complex opening in the centre The new cinema will feature the first Lux screens in South Australia offering cinema-goers a premium experience with reclining chairs

Indoor and outdoor entertainment will be a key feature of the precinct and the area will be brought to life with unique design elements that include light-filled green space water features and a new outdoor childrenrsquos play area

The total retail spend by the Westfield Tea Tree Plaza Total Trade Area was estimated at $53 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $32 billion

The total retail spend per capita for the Westfield Tea Tree Plaza Main Trade Area is estimated at $13199 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

In the Main Trade Area 76 of households own their own homes or are paying a mortgage which is higher than the Adelaide Metro average of 70 Anticipated completion Q4 2018

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 42 - Link To Disclaimer

Link to Trade Area Map

263 83368 m2 $4798 m 3157NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (100)

Centre Manager Scentre Group

Site Area 213 ha

Car Park Spaces 3157

Value

Acquisition Date 1994

Fair Value ($ million) SCG Share $7850

Fair Value ($ million) $7850

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1995

Centre Redeveloped 2005

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4798

Annual Sales Growth 16

Specialty Sales $9093 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $26 $51

Population 192704 365984

Anchor Retailers

GLA

David Jones 13198 158

Target 7169 86

Big W 7060 85

Coles 3570 43

Woolworths 5100 61

Aldi 1357 16

Cinemas 3516 42

Dan Murphys 1306 16

Major Tenant Total 42276 507

TUGGERAH NSW50 WYONG ROAD TUGGERAH NSW 2259

Westfield Tuggerah is located on NSWrsquos Central Coast approximately 90 kilometres north of the Sydney CBD The centre caters to a trade area population of more than 365000 residents as well as sizeable weekender and tourist populations

The total retail spend by the Westfield Tuggerah Total Trade Area was estimated at $51 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $26 billion

Home ownership figures in the Main Trade are high 73 of households own their own home or are paying a mortgage compared to the Sydney Metro average of 64

In the Main Trade Area 64 of workers are managers professionals or other white collar workers while 36 are engaged in blue collar work

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 43 - Link To Disclaimer

Link to Trade Area Map

388 131938 m2 $7233 m 4650NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

AMP (AMP Warringah Mall Pty Ltd) (50)

Centre Manager Scentre Group

Site Area 171 ha

Car Park Spaces 4650

Value

Acquisition Date 2003

Fair Value ($ million) SCG Share $9300

Fair Value ($ million) $18600

Valuation Date Dec 17

Retail Capitalisation Rate 500

Centre Opened 1963

Centre Redeveloped 2016

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $7233

Annual Sales Growth -68

Specialty Sales $8837 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $36 $51

Population 217449 298347

Anchor Retailers

GLA

Myer 14864 113

David Jones 20100 152

Target 8157 62

Big W 7827 59

Coles 4190 32

Woolworths 5171 39

Cinemas 5571 42

Bunnings Warehouse 1943 15

Major Tenant Total 67823 514

WARRINGAH MALL NSWCONDAMINE SREET amp OLD PITTWATER ROAD BROOKVALE NSW 2100

Westfield Warringah Mall is located 15 kilometres from the Sydney CBD in Sydneyrsquos affluent North One of the largest shopping centres in the area and well served by public transport with a dedicated bus interchange on its doorstep the centre caters to a trade area population in excess of 298000 residents

A $310 million redevelopment completed in 2016 has transformed Westfield Warringah Mall into a premium retail destination with the reconfiguration of around 30000 sqm of retail space to create a contemporary retail environment that retains the mallrsquos unique outdoor ambience

The centre is now home to Australiarsquos first new Myer concept store as well as an exciting mix of international and local brands including HampM Sephora Mecca Maxima and Scotch amp Soda There is also a new Country Road store and an upgraded Woolworths supermarket which is one of Sydneyrsquos largest

The total retail spend per capita for the Westfield Warringah Mall Total Trade Area was estimated at $17226 per annum in 2017 which is 18 above the Sydney Metro average ($14609)

In 2016 the average household incomes were $129292 per annum 15 higher than the Sydney Metro average ($112106)

The high disposable incomes of the arearsquos residents are evident in their spending habits There is a high per capita spend on fashion estimated at $2051 in 2017 which is 27 above the Sydney Metro average ($1612) There is also a high per capita spend on eating out estimated at $2834 in 2017 21 above the Sydney Metro average ($2341)

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 44 - Link To Disclaimer

Link to Trade Area Map

242 72221 m2 $3778 m 3909NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Dexus (50)

Centre Manager Scentre Group

Site Area 204 ha

Car Park Spaces 3909

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $2450

Fair Value ($ million) $4900

Valuation Date Dec 16

Retail Capitalisation Rate 600

Centre Opened 1974

Centre Redeveloped 2013

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3778

Annual Sales Growth 43

Specialty Sales $9214 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $20 $26

Population 150791 203132

Anchor Retailers

GLA

David Jones 13935 193

Harris Scarfe 2755 38

Target 7235 100

KMart 6493 90

Coles 4147 57

Woolworths 3939 55

Cinemas 4325 60

Major Tenant Total 42828 593

WEST LAKES SA111 WEST LAKES BLVD WEST LAKES SA 5021

DEVELOPMENTWestfield West Lakes is located 12 kilometres north-west of the Adelaide CBD and caters to a trade area population in excess of 203000 residents

In 2017 a new David Jones department store opened as a part of a remix due for completion in 2018

The total retail spend by the Westfield West Lakes Total Trade Area was estimated at $26 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $20 billion

The total annual retail spend per capita in the Main Trade Area was estimated at $13189 per annum in 2017 which is broadly in line with the Adelaide Metro average ($13450)

The Main Trade Area is characterised by pockets of cultural diversity with 22 of the total population born outside Australia and broad range of ages and life stages that are broadly consistent with the Adelaide Metro average

The centre underwent a redevelopment in 2013 which included the addition of Target and 39 specialty stores

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 45 - Link To Disclaimer

Link to Trade Area Map

297 85383 m2 $4477 m 4107NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

GIC (50)

Centre Manager Scentre Group

Site Area 227 ha

Car Park Spaces 4165

Value

Acquisition Date 2004

Fair Value ($ million) SCG Share $3300

Fair Value ($ million) $6600

Valuation Date Dec 17

Retail Capitalisation Rate 575

Centre Opened 1978

Centre Redeveloped 2017

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $4477

Annual Sales Growth -11

Specialty Sales $7524 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $28 $64

Population 181328 426325

Anchor Retailers

GLA

Target 8199 96

Big W 7980 93

Coles 4680 55

Woolworths 4411 52

Cinemas 6970 82

Bunnings Warehouse 5791 68

Major Tenant Total 38080 445

WHITFORD CITY WAMARMION AVE amp WHITFORDS AVE HILLARYS WA 6025

Westfield Whitford City is located in Hillarys a coastal suburb 20 kilometres north of the Perth CBD The centre caters to a trade area population of more than 426000 residents

An $80 million redevelopment was completed in September 2017 with the opening of a brand new dining lifestyle and entertainment precinct incorporating an 8-screen Event Cinemas complex and a bowling alley Designed as a space where people can come together the fresh outdoor space celebrate the best of Perthrsquos cafeacute culture and provides a new destination for Perthrsquos northern beaches community

The total retail spend in the Westfield Whitford City Total Trade Area was estimated at $64 billion in 2017 while the total retail spend in 2017 the Main Trade Area was estimated at $28 billion

The annual retail spend per capita in the Main Trade Area was estimated at $15579 in 2017 4 higher than the Perth Metro average ($14971)

The average household income in 2016 was $115502 per annum which is 10 higher than the Perth Metro average ($104975)

In early 2017 Scentre Group and David Jones announced a three-store deal that will see three new David Jones stores open in Westfield shopping centres in Perth one of which will be in Westfield Whitford City

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

Westfield

$

SCENTRE GROUP PROPERTY COMPENDIUM 2017 - 46 - Link To Disclaimer

Link to Trade Area Map

242 71945 m2 $3620 m 2388NUMBER OF RETAILERS GROSS LETTABLE AREA TOTAL ANNUAL RETAIL SALES CAR PARKING SPACES

Ownership amp Site

Centre Owner Scentre Group (50)

Perron (50)

Centre Manager Scentre Group

Site Area 91 ha

Car Park Spaces 2388

Value

Acquisition Date 2005

Fair Value ($ million) SCG Share $3500

Fair Value ($ million) $7000

Valuation Date Dec 17

Retail Capitalisation Rate 550

Centre Opened 1972

Centre Redeveloped 1995

Centre Composition By GLA

Anchors

Specialties gt400sqm

Specialties lt400sqm

Offices

Retail Sales Information

Annual Sales ($ million) $3620

Annual Sales Growth -10

Specialty Sales $9130 psm

Demographics

MTA TTA

Retail Expenditure ($ billion) $33 $78

Population 184209 452375

Anchor Retailers

GLA

David Jones 13634 190

Big W 8492 118

Coles 3400 47

Woolworths 4078 57

Cinemas 3778 53

Major Tenant Total 33382 464

WODEN ACTKELTIE STREET PHILLIP ACT 2606

Westfield Woden is located eight kilometres south of the Canberra CBD Centrally located in the midst of government buildings and neighbourhoods of families professionals and skilled workers the centre caters to a trade area population in excess of 452000 residents

The total retail spend by the Westfield Woden Total Trade Area was estimated at $78 billion in 2017 while the total retail spend by the Main Trade Area was estimated at $33 billion The total retail spend per capita for the Westfield Woden Main Trade Area was estimated at $17750 per annum in 2017 which is 22 above the Sydney Metro average ($14609)

Household incomes in the Main Trade Area in 2016 were $121698 per annum 9 above the Sydney Metro average ($112106)

82 of workers in the Main Trade Area are managers professionals or other white collar workers compared to the Sydney Metro average of 75

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation

SCENTRE GROUP PROPERTY COMPENDIUM 2016

Directory and Disclaimer

Scentre Group

Scentre Group LimitedABN 66 001 671 496

Scentre Group Trust 1ARSN 090 849 746(responsible entity Scentre Management LimitedABN 41 001 670 579 AFS Licence No 230329)

Scentre Group Trust 2ARSN 146 934 536(responsible entity RE1 LimitedABN 80 145 743 862 AFS Licence No 380202)

Scentre Group Trust 3ARSN 146 934 652(responsible entity RE2 LimitedABN 41 145 744 065 AFS Licence No 380203)

Registered OfficeLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7000Facsimile +61 2 9028 8500

New Zealand OfficeLevel 2 Office Tower277 BroadwayNewmarket Auckland 1023Telephone +64 9 978 5050Facsimile +64 9 978 5070SecretariesMaureen T McGrathPaul F Giugni

AuditorErnst amp Young200 George StreetSydney NSW 2000

Investor InformationScentre GroupLevel 3085 Castlereagh StreetSydney NSW 2000Telephone +61 2 9358 7877Facsimile +61 2 9028 8500E-mail investorscentregroupcomWebsite wwwscentregroupcom

Disclaimer and Sources

Sources Urbis ABS (incl Census 2016) and Quantium Market Info (Quantium Market Blueprintreg information sourced from NAB transactions representing 10-15 of the market which is weighted using the ABS 2011 Census to be demographically and nationally representative of the Australian market) NZ Marcoplan Dimasi NZ Department of Statistics (incl Census 2013) Marketview Refer to applicable Westfield Centre Trade Area Maps for further trade area information

Disclaimer The portfolio information in this document is produced by Scentre Shopping Centre Management Pty Ltd ACN 000 712 710 and its related bodies corporate as applicable (Scentre Group) The information is provided in good faith and is believed to be correct as at February 2018 The information does not constitute any offer warranty or representation as to the profitability of the Centre or any premises You should make your own enquiries and obtain your own legal business and financial advice about your participation in the Centre and you must satisfy yourself as to the correctness of the information set out in this document before acting on it Any forward looking statements in this document are not assured or guaranteed and may be affected by a number of unforeseen circumstances The extent of any redevelopment and its timing may change dependent on a range of issues Any retailers location of tenancies depiction of usage or category of retailers represented are for illustrative purposes only and do not constitute any representation as to the final tenancy mix of any redevelopment or otherwise Neither Scentre Group the lessor nor any of their related bodies corporate will be liable or otherwise responsible for any loss or damage (whether from negligence or otherwise) suffered as a result of any decision that you may make to act on the information contained in this presentation