ApprovedAssessment completedWaiverCase number WA-15004

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.

ApprovedAssessment completedWaiverCase number WA-85018

10 Apr 2026

Discovery Holiday Parks – Habitat Noosa Everglades Eco Camp

Discovery Holiday Parks Pty Limited (Discover Holiday Parks), a wholly-owned subsidiary of Discovery Parks Holdings Pty Limited (Discovery Parks Holdings), proposes to acquire the business of operating and managing "Habitat Noosa Everglades Eco Camp" (Habitat Noosa). Habitat Noosa is an integrated hospitality business comprising accommodation options for backpackers, couples and families; a 200 seat bar and bistro with an on site micro brewery; and Noosa Everglades eco safari boat tours. Associated brands include Everglades Eco Safaris, Kangarooms Noosa Everglades, Eco Brewing Co and Coothara Bar. Discovery Holiday Parks, under its trading names Discovery Parks and Discovery Resorts, owns and operates over 90 accommodation offerings throughout Australia. Discovery Holiday Parks provides short-stay holiday accommodation, worker accommodation, and long-stay accommodation, as well as tours and food and beverage services within the tourism and hospitality industry. Discovery Holiday Parks does not have a presence in Noosa, Queensland or on the Sunshine Coast – its nearest property is in Hervey Bay.

ApprovedAssessment completedWaiverCase number WA-45010

1 May 2026

Airtree and ors (additional minority co-investors) - Advanced Navigation

On 5 March 2026, Advanced Navigation Pty. Ltd (AdNav), several existing shareholders of AdNav, and several new investors, entered into a sale and subscription deed (SSD). Under the SSD, Airtree Ventures Opportunity Fund V Partnership and its affiliates, National Reconstruction Fund Corporation, Australian Retirement Trust, Franklin Park Venture Capital Opportunity Fund II, L.P., LGPE SEC S.C.Sp, Crown Growth Opportunities IV SCSp-RAIF, Crown Asia-Pacific Private Equity V Master SCSp, Crown Asia-Pacific Private Equity VI Alt S.C.Sp., and Harvard Private Capital Realty Inc (collectively, the New Investors) along with a variety of other investors will directly or indirectly (through a separate nominee vehicle or trust) acquire shares of AdNav and enter into a shareholders agreement (the Acquisition). AdNav develops, manufacturers and offers AI powered navigation solutions, primarily for defence primes.

THE TRUSTEE FOR AUSTRALIAN RETIREMENT TRUST

Other Party(3)

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

Discovery Holiday Parks – Habitat Noosa Everglades Eco Camp

Airtree and ors (additional minority co-investors) - Advanced Navigation