Scentre : 06 May 2021 First Quarter Update

ASX ANNOUNCEMENT

6 May 2021

Scentre Group (ASX: SCG)

1st Quarter Operational Update

Attached is the Group's 1st Quarter Operational Update.

Authorised by the Chief Executive Officer.

Further information:
Company Secretary	Investor Relations	Corporate Affairs/Media
Maureen McGrath	Andrew Clarke	Alexis Lindsay
[phone]	[phone]	[phone]

Scentre Group Limited

ABN 66 001 671 496

Scentre Management Limited	RE1 Limited	RE2 Limited
ABN 41 001 670 579	ABN 80 145 743 862	ABN 41 145 744 065
AFS Licence No: 230329 as responsible	AFS Licence No: 380202 as responsible	AFS Licence No: 380203 as responsible
entity of Scentre Group Trust 1	entity of Scentre Group Trust 2	entity of Scentre Group Trust 3
ABN 55 191 750 378 ARSN 090 849 746	ABN 66 744 282 872 ARSN 146 934 536	ABN 11 517 229 138 ARSN 146 934 652
Level 30, 85 Castlereagh Street	GPO Box 4004
Sydney NSW 2000 Australia	Sydney NSW 2001 Australia	scentregroup.com

Q1 Operational Update

2021

Westfield Bondi Junction, NSW

Photographed: February 2021

Q1 Operational Update

Operations

• Customer visitation has continued to improve. At the end of April 2021, total portfolio (including all centres) customer visitation was equivalent to 93% of 2019 levels
• Year to date, 30 April 2021, we have collected $802 million of gross rental billings, including $601 million during the first quarter to 31 March 2021
• Completed 588 lease deals, including 236 new merchants, introducing 35 new brands to the portfolio, for the quarter
• Portfolio occupancy remained strong at 98.5% leased at the end of March 2021
• Total portfolio (including all centres), specialty in-store sales were up 6.3% compared to the March 2020 quarter and 1.4% compared to the March 2019 quarter

Customer Initiatives

• Westfield Plus membership program, now has more than 1.65 million members (an increase of more than 400,000 members since 31 December 2020)

Developments

• The $55 million entertainment, leisure and dining precinct development at Westfield Mt Druitt is progressing well and is expected to open at the end of 2021
• Works on behalf of Cbus Property to design and construct the residential and commercial tower in Sydney's CBD, are progressing well, with completion expected in 2023

Responsible, Sustainable Business

• The Westfield Local Heroes program received 1,481 unique nominations during the quarter, with community engagement in the program growing year on year

Distribution

• Subject to no material change in conditions, the Group reconfirms it expects to distribute at least 14.00 cents per security for 2021. The Distribution is expected to continue to grow in future years

Q1 2021 Operational Update 2

Gross Rent Cash Collection

Year to date, 30 April 2021, the Group collected $802 million of gross rent, including $601 million during Q1 2021. This is an increase of 27% or $169 million compared to the 4 months to 30 April 2020

$'m	YTD 30 April 2020: $633 million			YTD 30 April 2021: $802 million
200
$200m	$200m		$200m	$199m	$202m	$201m
		$174m
150

100

50

$59m

January

February

March

April

January

February

March

April

Q1 2021 Operational Update 3

Retailer In-Store Sales

Growth on 2020

For the 3 months to 31 March 2021, the total portfolio (including all centres), specialty sales were up 6.3%, and majors sales were down 0.4%

Total Portfolio (including all centres)
Q1 2021 compared to Q1 2020	Majors1	Specialties
NSW	(3.5%)	2.4%
QLD	5.4%	9.9%
VIC	0.1%	4.5%
WA	(2.6%)	12.7%
SA	7.2%	16.1%
ACT	2.9%	8.6%
NZ	(3.9%)	9.3%
TOTAL	(0.4%)	6.3%

Total Portfolio (including all centres)
Q1 2021 compared to Q1 2020
Retail Services	13.9%
Leisure & Sports	13.9%
Food Retail	(4.7%)
Dining	(0.7%)
Health & Beauty	1.6%
Fashion	10.2%
Footwear	8.5%
Jewellery	14.8%
Technology & Appliances	6.7%
General Retail	(2.1%)
Homewares	13.3%
Supermarkets	(8.3%)
Department Stores	4.6%
Discount Department Stores	15.5%

1. Excludes Cinemas

Q1 2021 Operational Update 4