VICINITY CENTRES TRUST — Capital/Financing Update 2020

Jul 7, 2020

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ASX Announcement

Not for release to US wire services or distribution in the United States

8 July 2020

Results of Security Purchase Plan

Vicinity Centres (Vicinity, ASX:VCX) advises the completion of its non-underwritten Security Purchase Plan ('SPP'), raising approximately $32.6 million. This follows Vicinity's $1,200 million underwritten institutional placement completed on 2 June 2020.

The SPP announced by Vicinity on 1 June 2020 closed on Monday 6 July 2020, with approximately 2,400 applications received from eligible securityholders.

Vicinity confirms it will accept all valid SPP applications in full and expects to issue approximately 22.6 million new fully paid stapled securities (‘New Securities’).

The New Securities will be issued at $1.44 per New Security, which represents a 2% discount to the volume weighted average price of Vicinity securities traded on ASX over the five trading days up to, and including, Monday 6 July 2020, of $1.47 per security.

The New Securities are expected to be issued on Monday 13 July 2020 and to commence trading on ASX on Tuesday 14 July 2020. Holding statements are expected to be dispatched on Wednesday 15 July 2020 and refunds for application monies (due to invalid applications or rounding to parcel amounts) will be processed in accordance with the terms and conditions of the SPP.

The New Securities will, from their date of issue, rank equally with existing Vicinity securities on issue.

Authorisation

The Company Secretary has authorised that this document be given to ASX.

ENDS

For further information please contact:

Penny Berger Head of Investor Relations

T +61 2 8229 7760 E penny.berger@vicinity.com.au

Kat Rellos

Head of Corporate Communications T +61 3 7001 4670 E katherine.rellos@vicinity.com.au

Vicinity Centres National Office Level 4, Chadstone Tower One 1341 Dandenong Road T +61 3 7001 4000 PO Box 104 F +61 3 7001 4001 Chadstone VIC 3148 vicinity.com.au

Vicinity Limited ABN 90 114 757 783 and Vicinity Centres RE Ltd ABN 88 149 781 322 As responsible entity for: Vicinity Centres Trust ARSN 104 931 928

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About Vicinity Centres

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Vicinity Centres (Vicinity) is one of Australia’s leading retail property groups. With a fully integrated asset management platform and $26 billion in retail assets under management across 64 shopping centres, it is the second largest listed manager of Australian retail property. Vicinity has a Direct Portfolio with interests in 60 shopping centres (including the DFO Brisbane business) and manages 32 assets on behalf of Strategic Partners, 28 of which are co-owned by Vicinity. Vicinity is listed on the Australian Securities Exchange (ASX) under the code ‘VCX’ and has over 26,000 securityholders. Vicinity also has European medium term notes listed on the ASX under the code ‘VCD’. For more information visit vicinity.com.au, or use your smartphone to scan this QR code.

IMPORTANT NOTICE

In this announcement, unless otherwise stated or the context requires otherwise, references to "$" or "A$" are to Australian dollars. The distribution of this announcement in jurisdictions outside Australia may be restricted by law and you should observe any such restrictions. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.

In particular, this announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration of the US Securities Act and applicable US state securities laws.

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