Post Stab Notice - Vicinity GBP 350M 3.375% 10y

4^th May 2016

Vicinity Centres RE Ltd as responsible entity of the Vicinity Centres Trust

Post-Stabilisation Notice

Deutsche Bank AG, London Branch (contact: Global Risk Syndicate on 0207-545- 4361) hereby gives notice that [no stabilisation was undertaken by the Stabilising Manager(s) named below in relation to the offering of the following securities.

The Securities:

Issuer:                                                             Vicinity Centres RE Ltd as responsible entity of the Vicinity Centres Trust

Guarantor (if any):                                           Vicinity Limited; Vicinity Funds RE Ltd as responsible entity of Vicinity NVN Trust

Aggregate nominal amount:                            GBP 350,000,000

Description:                                                     Vicinity, GBP 350m, 3.375% FXD due 7^th April 2026 (10 year)

                                                                        ISIN: XS1387869438

Issue/Reoffer Price:                                        99.161

Spread over benchmark:                                Mid Gilts (UKT 2 09/07/25) + 197bps

Stabilising Manager(s):                                   Deutsche Bank AG, London Branch (Stabilisation Coordinator)

                                                                        BNP Paribas

                                                                        HSBC

Stabilisation started:                                       23^rd March 2016

Stabilisation last occurred:                             None

Although stabilisation offers were made, no stabilisation transactions were carried out.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

This announcement is not an offer of securities for sale into the United States. The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There has not been and will not be a public offer of the securities in the United States.