Australian Retirement Trust – Interests in non-rental income (Westfield Sydney)

Australian Retirement Trust Pty Ltd as trustee of the Australian Retirement Trust (ART) is an Australian superannuation fund. ART manages retirement savings for >2.4 million members and >207,000 participating employers across Australia as at 30 June 2025. ART has limited interests in a small number of shopping centres in Sydney and New South Wales.

Scentre Group Limited (ASX: SCG) (Scentre Group) is an ASX-listed Australian real estate investment trust established in 2014. Scentre Group owns, develops and manages a portfolio of 42 Westfield shopping centres across Australia and New Zealand, including Westfield Sydney. Its business encompasses property investment, development, design, construction, leasing and asset management.

ART (through a wholly owned trust) has entered into an agreement with various wholly owned Scentre Group entities to acquire either:

• a 19.9% interest in certain digital advertising assets located at Westfield Sydney, and the non-rental revenue associated with certain digital and other advertising within Westfield Sydney, valet services, gift cards and other ancillary or incidental non-rental income; or

• only the non-rental revenue associated with certain digital and other advertising within Westfield Sydney, valet services, gift cards and other ancillary or incidental non-rental income

  (the Acquisition).

The Acquisition is related to ART’s proposed acquisition of a 19.9% interest in the property trusts that own the various parcels of land that comprise Westfield Sydney, announced 23 December 2025.