VICINITY CENTRES TRUST — Earnings Release 2018

Aug 14, 2018

Vicinity Centres1
Appendix 4E - Results for announcement to the market
Financial reportingfor theyear ended 30 June 2018
			Increase/
	30 June 2018	30 June 2017	(Decrease)
	$m	$m	$m	%
Revenue from ordinary activities	1,329.7	1,302.1	27.6	2.1
Net profit from ordinary activities after tax attributable to securityholders	1,218.7	1,583.6	(364.9)	(23.0)
Funds from operations2	708.7	712.9	(4.2)	(0.6)
			Increase/
	30 June 2018	30 June 2017	(Decrease)
Net tangible assetsper security	$ per security	**$ per security **	$ per security	%
Total	2.97	2.82	0.15	5.3
Net assetsper security	$ per security	**$ per security **	$ per security %
Total	3.13	2.97	0.16	5.4
			Payment
Distributionper stapled security	Cents3	Record date	date
Interim distribution	8.10	29-Dec-17	28-Feb-18
Final distribution	8.20	29-Jun-18	29-Aug-18

Review of results

For further commentary on these results, refer to the following documents released to ASX today: FY18 annual results and strategy update announcement, FY18 annual results and strategy update presentation and 2018 Annual Report ( Annual Report ).

Details of associates and joint venture entities (equity accounted investments) & entities over which control has been lost during the period Refer to Note 5 of the Financial Report for the year ended 30 June 2018 ( Financial Report ) contained within the Annual Report.

The information presented above is based upon the Financial Report which has been audited. The independent auditor's report is included within the Financial Report.

The remaining disclosures required to comply with listing rule 4.3A are contained within the Operating and Financial Review and Financial Report sections of the Annual Report.

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Rohan Abeyewardene Secretary

Date: 15 August 2018

Notes:

1. Vicinity Centres is a stapled group comprising Vicinity Limited ABN 90 114 757 783 and Vicinity Centres Trust ARSN 104 931 928 (the Trust ). The Responsible Entity of the Trust is Vicinity Centres RE Ltd ABN 88 149 781 322.

2. A reconciliation between fund from operations (FFO) and net profit from ordinary activities attributable to securityholders is provided in Note 1(b) of the 30 June 2018 Financial Report. Prior to 1 July 2017, Vicinity Centres reported Underlying Earnings which was calculated as FFO plus rent lost from undertaking developments. Accordingly, the comparative information for the year ended 30 June 2017 has been restated from Underlying Earnings to FFO.

3. Details of the full year tax components of distributions per stapled security will be sent to securityholders in late August 2018.