REGION GROUP — Capital/Financing Update 2014

Jun 12, 2014

NOT FOR RELEASE OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA

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Level 5, 50 Pitt Street Sydney NSW 2000 Tel: (02) 8243 4900 Fax: (02) 8243 4999 www.scaproperty.com.au

13 June 2014

ASX ANNOUNCEMENT

US Private Placement, Moody’s Rating, Interest Rate Hedging and Gearing Policy

SCA Property Group (ASX: SCP) (“SCP”) announces that it has agreed terms with US private investors to issue notes with aggregate face value of US$197m (A$210m). The maturity profile of the notes is US$100m expiring August 2027 (13 years), and US $50m and A $50m expiring August 2029 (15 years). The principal and coupon obligations have all been swapped back to Australian dollars. The terms of the notes are standard for this type of transaction, and include a make-whole obligation in the event of a default or change of control of SCP. The notes have been rated Baa1 by Moody’s. The transaction is expected to close in August 2014.

In addition, SCP has entered into $100m of additional 3 and 5 year interest rate swaps, and now has fixed rate swaps in place representing over 80% of debt outstanding.

We have also revised our gearing policy to be within the range of 30% to 40%, with a preference to remain below 35%.

As a result of these initiatives, SCP’s weighted average cost of debt is expected to rise from around 4.8% to 5.1% (based on current BBSW). The weighted average term to maturity is expected to increase from around 3.5 years to over 6.5 years.

Chief Financial Officer, Mark Fleming, said: “The USPP will provide new tranches of debt with average term to maturity of 14 years, complementing our long-term weighted average lease expiries. The USPP also provides us with further diversity of our sources of funding. We will continue to actively manage our debt position to ensure we can achieve our objective of delivering long term sustainable and growing distributions to our unitholders”.

ENDS

Institutional investor, analyst and media contacts:

Mark Fleming Chief Financial Officer SCA Property Group (02) 8243 4911

Shopping Centres Australasia Property Group RE Limited ABN 47 158 809 851 AFS Licence 426603 as responsible entity of the Shopping Centres Australasia Property Retail Trust ARSN 160612788 and as responsible entity of the Shopping Centres Australasia Property Management Trust ARSN 160612626 This announcement is not for publication or distribution, directly or indirectly, in or into the United States. This announcement does not constitute or form part of an offer to sell securities or the solicitation of any offer to subscribe for or otherwise buy any securities to any person in the United States. The securities referred to in this announcement have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in the United States unless registered under the Securities Act or offered in a transaction exempt from, or not subject to, the registration requirements of the Securities Act. There will be no public offering of securities in the United States.

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