VICINITY CENTRES TRUST - Capital/Financing Update 2017

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ASX Announcement

24 January 2017

Standard & Poor’s raises credit rating to ‘A’ with stable outlook

Vicinity Centres (Vicinity, ASX:VCX) today announces that Standard & Poor’s has raised its credit rating to ‘A/stable’ from ‘A-/positive’ on strengthening portfolio quality. As a result, Vicinity’s corporate credit and senior unsecured issue ratings have been raised to 'A' from 'A-', and the rating on Vicinity’s senior secured debt has been raised to 'A+' from 'A'.

Standard & Poor’s Research Update is attached.

ENDS

For further information please contact:

Penny Berger

Head of Investor Relations

T +61 2 8229 7760

E [email protected]

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About Vicinity Centres

Vicinity Centres (Vicinity or the Group) is one of Australia’s leading retail property groups with a fully integrated asset management platform, and over $23 billion in retail assets under management across 85 shopping centres, making it the second largest listed manager of Australian retail property. The Group has a Direct Portfolio with interests in 75 shopping centres (including the DFO Brisbane business) and manages 37 assets on behalf of Strategic Partners, 27 of which are co-owned by the Group. Vicinity is listed on the Australian Securities Exchange (ASX) under the code ‘VCX’ and has approximately 24,000 securityholders. Vicinity also has European medium term notes listed on the ASX under the code ‘VCD’. For more information visit the Group’s website vicinity.com.au, or use your smartphone to scan this QR code.