Vicinity Centres Trust Constitution

For personal use only

10 November 2021

Market Announcements Office

Australian Securities Exchange

Exchange Centre

20 Bridge Street

SYDNEY NSW 2000

Dear Sir/Madam

Constitution of Vicinity Centres Trust

In accordance with ASX Listing Rule 15.4.2, please find attached the current constitution of Vicinity Centres Trust incorporating the general amendments approved by securityholders at the Annual General Meeting held today.

Authorised for lodgement by:

Rohan Abeyewardene

Group Company Secretary

Vicinity Centres
National Office		Vicinity Limited ABN 90 114 757 783
Level 4, Chadstone Tower One		and Vicinity Centres RE Ltd
1341 Dandenong Road	T [phone]	ABN 88 149 781 322
PO Box 104	F [phone]	As responsible entity for:
Chadstone VIC 3148	vicinity.com.au	Vicinity Centres Trust ARSN 104 931 928

For personal use only

Vicinity Centres Trust

ARSN 104 931 928

Constitution

Consolidated Constitution at 10 November 2021

Consolidates:

1. Constitution dated 29 May 2003;
2. First Supplemental Deed dated 12 December 2003;
3. Second Supplemental Deed dated 31 March 2004;
4. Deed of Retirement or Appointment dated 31 March 2004;
5. Third Supplemental Deed dated 5 April 2004;
6. Fourth Supplemental Deed dated 1 June 2004;
7. Fifth Supplemental Deed dated 4 July 2005;
8. Sixth Supplemental Deed dated 10 August 2005;
9. Seventh Supplemental Deed dated 12 August 2005:
10. Deed of Retirement or Appointment dated 12 August 2005;
11. Eighth Supplemental Deed lodged with ASIC on 9 November 2005;
12. Ninth Supplemental Deed dated 7 September 2007;
13. Tenth Supplemental Deed dated 30 June 2010;
14. Eleventh Supplemental Deed dated 10 October 2011;
15. Twelfth Supplemental Deed dated 30 November 2011;
16. Thirteenth Supplemental Deed dated 12 December 2011;
17. Fourteenth Supplemental Deed dated 22 January 2013;
18. Fifteenth Supplemental Deed dated 10 November 2014;
19. Sixteenth Supplemental Deed dated 28 October 2015;
20. Seventeenth Supplemental Deed dated 1 November 2018; and
21. Eighteenth Supplemental Deed dated 10 November 2021.

For personal use only

Table of Contents

1.	Meaning of words and interpretation	6
	1.1	Definitions..................................................................................................................	6
	1.2	Interpretation ...........................................................................................................	11
	1.3	Market Price ............................................................................................................	11
	1.4	General compliance provision and ASIC Exemptions.............................................	11
	1.5	Inconsistency with the Listing Rules........................................................................	12
	1.6	Additional Listing Rule requirements.......................................................................	12
	1.7	Acquisition of an investment....................................................................................	13
	1.8	Paramountcy of provisions ......................................................................................	13

2.	The Trust	13
	2.1	Trustee ....................................................................................................................	13
	2.2	Declaration of Trust .................................................................................................	13
	2.3	Trust ........................................................................................................................	14
	2.4	Name of Trust..........................................................................................................	14

3.	Interest of Unit Holder	14
	3.1	Division into Units ....................................................................................................	14
	3.2	Fractions and splitting .............................................................................................	14
	3.3	Issue of Partly Paid Units ........................................................................................	15
	3.4	Joint Holders............................................................................................................	15
	3.5	Classes of Units.......................................................................................................	15
	3.6	Benefits and obligations of Unit Holders and Option Holders .................................	16
	3.7	No further liability.....................................................................................................	16
	3.8	Failure to pay instalment on Partly Paid Unit ..........................................................	16
	3.9	Sale of Forfeited Unit...............................................................................................	17
	3.10	Income and Capital of a Forfeited Unit....................................................................	17
	3.11	Notice of sale of Forfeited Unit ................................................................................	17
	3.12	Cancellation of Forfeiture ........................................................................................	17
	3.13	Consequences of sale and continuing liability ........................................................	18
	3.14	Proceeds of sale of Forfeited Unit ...........................................................................	18
	3.15	Lien for Amounts Owing ..........................................................................................	19
	3.16	Trustee Units ...........................................................................................................	19
	3.17	Capital Reallocation.................................................................................................	19

4.	Application Procedures	19
	4.1	Number of Units issued ...........................................................................................	19
	4.2	Application for Units or Options...............................................................................	20
	4.3	Payments to the Trustee .........................................................................................	20
	4.4	Allotment..................................................................................................................	21
	4.5	Trustee's discretion on Application..........................................................................	21
	4.6	Certificates...............................................................................................................	21
	4.7	Foreign Unit Holders................................................................................................	21

5.	Issues and Redemptions	22
	5.1	Powers Cumulative..................................................................................................	22
	5.2	Underwriting of Issue...............................................................................................	22
	5.3	Issues of Options.....................................................................................................	22
	5.4	Stapled Securities....................................................................................................	23
	5.5	Issue of Units under Options ...................................................................................	23
	5.6	Issue of Units and Options ......................................................................................	23
	5.6A	Financial Instruments ..............................................................................................	24
	5.7	Issues pursuant to a bookbuild................................................................................	24
	5.8	Buy-back..................................................................................................................	24
	5.9	Transfer of Assets ...................................................................................................	24
	5.10	Compulsory redemption of small parcels ................................................................	25
	5.11	Effect of Stapling .....................................................................................................	25

For personal use only

6.	Trustee's Powers	25
	6.1	General powers .......................................................................................................	25
	6.2	Contracting powers..................................................................................................	25
	6.3	Investment powers ..................................................................................................	25
	6.4	Power of delegation.................................................................................................	25
	6.5	Exercise of discretion ..............................................................................................	25
	6.6	Power to seek information.......................................................................................	25

7.	Trustee's responsibilities and indemnities	26
	7.1	No limitation of other undertakings..........................................................................	26
	7.2	Limitation of liability .................................................................................................	26
	7.3	Indemnities ..............................................................................................................	26
	7.4	Trustee may rely on advice .....................................................................................	26
	7.5	Interested dealings by Trustee ................................................................................	27
	7.6	Effect of Stapling .....................................................................................................	27

8.	Valuation of Assets	27
	8.1	Valuation of assets ..................................................................................................	27
	8.2	Currency Conversion...............................................................................................	28
	8.3	Trustee to determine Current Unit Value.................................................................	28

9.	Income and Distributions	28
	9.1	Income and reserves of the Trust............................................................................	28
	9.2	Distributable Amount ...............................................................................................	28
	9.3	Distribution of income ..............................................................................................	28
	9.4	Separate Accounts ..................................................................................................	29
	9.5	Composition of Distribution Entitlements ................................................................	29
	9.6	Distribution reinvestment arrangements..................................................................	29
	9.7	Tax...........................................................................................................................	30
	9.8	Excess amounts ......................................................................................................	30
	9.9	Capital distribution ...................................................................................................	30
	9.10	Ancillary Powers ......................................................................................................	30

10.	Remuneration of Trustee	31
	10.1	Trustee's remuneration ...........................................................................................	31
	10.2	Waiver of remuneration ...........................................................................................	31
	10.3	Form of remuneration ..............................................................................................	31
	10.4	Priority of Trustee's remuneration ...........................................................................	31
	10.5	Indemnity .................................................................................................................	32
	10.6	Effect of Stapling .....................................................................................................	32
	10.7	Proper performance of duties..................................................................................	32

11.	Indemnity and insurance	32
	11.1	Persons to whom clauses 11.2 to 11.4 apply..........................................................	32
	11.2	Indemnity .................................................................................................................	32
	11.3	Extent of indemnity ..................................................................................................	32
	11.4	Insurance.................................................................................................................	32
	11.5	Savings....................................................................................................................	33

12.	Transfers	33
	12.1	Transfer ...................................................................................................................	33
	12.2	Effect of Stapling .....................................................................................................	33
	12.3	Transaction advice after transfer.............................................................................	34
	12.4	No general restriction on transfer ............................................................................	34
	12.5	Restricted securities ................................................................................................	34
	12.6	Death, legal disability ..............................................................................................	34
	12.7	Recognition of Holder ..............................................................................................	34
	12.8	Participation in transfer systems .............................................................................	34
	12.9	Sale by majority of Unit Holders ..............................................................................	35
	12.10	Exchange of Units deemed accepted......................................................................	35
	12.11	Partial takeovers......................................................................................................	35

For personal use only

13.	Options	36
	13.1	Terms and subscription ...........................................................................................	36
	13.2	Nominees ................................................................................................................	36
	13.3	Exercise...................................................................................................................	36
	13.4	Option Holder's rights and interest ..........................................................................	36
	13.5	Redemption or repurchase......................................................................................	36

14.	Retirement or removal of Trustee	37
	14.1	Retirement of Trustee..............................................................................................	37
	14.2	Name of Trust to be changed..................................................................................	37
	14.3	Payment of outstanding or deferred fees ................................................................	37
15.	Alterations to this deed	37
16.	Term of Trust and termination of Trust	37
	16.1	Term of Trust ...........................................................................................................	37
	16.2	Procedure on winding up of Trust ...........................................................................	38
	16.3	Audit of accounts of Trust........................................................................................	39
17.	Meetings	39
	17.1	Meetings ..................................................................................................................	39
	17.2	Resolutions in writing...............................................................................................	39
	17.3	Passing of resolution ...............................................................................................	39
	17.4	Effect of Stapling .....................................................................................................	39
18.	Complaints	40
19.	Small holdings	40
	19.1	Sale or redemption of small holdings ......................................................................	40
	19.2	Procedure ................................................................................................................	40
20.	Stapling	41
	20.1	Power to staple Securities and give effect to the Stapling ......................................	41
	20.2	Applications, transfers and distributions in specie ..................................................	41
	20.3	Operation of Stapling provisions .............................................................................	42
	20.4	Units to be Stapled ..................................................................................................	42
	20.5	Paramountcy of Stapling .........................................................................................	42
	20.6	Unstapling Date .......................................................................................................	43
	20.7	Transfer of Stapled Securities .................................................................................	43
	20.8	Stapled Security Register........................................................................................	43
	20.9	Variation of Stapling provisions ...............................................................................	44
	20.10	Apportionment of application price ..........................................................................	44
21.	Proposal Approved by Members	44
	21.1	Power to implement a Proposal and limitation of liability ........................................	44
	21.2	Appointment of Trustee as agent and attorney .......................................................	44
	21.3	Payment of fees.......................................................................................................	45
	21.4	Paramountcy ...........................................................................................................	45
22.	General	45
	22.1	Service of notices ....................................................................................................	45
	22.2	GST .........................................................................................................................	46
	22.3	Method of payment, repayment or redemption .......................................................	47
	22.4	Binding conditions ...................................................................................................	47
	22.5	Governing law and jurisdiction ................................................................................	48
	22.6	Severability ..............................................................................................................	48
	22.7	Schedule..................................................................................................................	48