SCENTRE GROUP ANNOUNCES CASH TENDER OFFER FOR UP TO US$550 MILLION AGGREGATE PRINCIPAL AMOUNT OF ITS OUTSTANDING SUBORDINATED NOTES

Core Viewpoint - Scentre Group has initiated a cash tender offer for up to US$550 million of its outstanding Subordinated Non-Call 6 Fixed Rate Reset Notes due 2080, contingent upon certain conditions being met [1][5]. Group 1: Tender Offer Details - The tender offer is for a maximum principal amount of US$550 million of the Notes, with a minimum tender condition of US$250 million [5][12]. - The offer is subject to the Financing Condition, which requires Scentre Management Limited to successfully issue new subordinated debt securities in Australian Dollars [2][7]. - The tender offer will expire on September 19, 2024, unless extended [12]. Group 2: Financing Transaction - Following the early tender time, Scentre Management Limited plans to issue new securities equivalent to the maximum tender amount when converted to US dollars at a specified exchange rate [2][6]. - The Notes Hedging FX Rate is set at A$1 = US$0.7288 [2]. Group 3: Consideration and Settlement - Holders of Notes tendered by the early tender time will receive an Early Tender Consideration that includes a US$50 premium per US$1,000 principal amount [13][16]. - The anticipated Early Settlement Date is September 10, 2024, while the Final Settlement Date is expected to be September 23, 2024 [19][20]. Group 4: Withdrawal and Proration - Notes can be withdrawn until the withdrawal deadline of September 4, 2024 [21]. - If the total amount of Notes tendered exceeds the tender amount, proration will apply to the accepted Notes [15].