Not for release or distribution in the US

AMP Capital has appointed construction company Brookfield Multiplex as the builder for the $600 millionredevelopment of Karrinyup Shopping Centre.

Karrinyup Shopping Centre is a highly successful regional centre located in an affluent and wellestablished area 12 kilometres north of Perth, which includes many of Perth's most prestigious coastalsuburbs. On completion, the redevelopment will deliver a number of new large format internationalretailers, high-quality fashion retailers, an exciting food and entertainment offering and 150 residentialapartments. This is in addition to the current retail offer, which includes department stores and Perth'sleading range of fashion retailers.

The redevelopment of Karrinyup will boost the Western Australian economy through the creation of 2,500jobs during construction, and will provide sustainable long-term employment opportunities for the nextgeneration, with a further 2,500 jobs created in retail sales, support and management.

AMP Capital Shopping Centres State Development Manager Scott Nugent said: "The redevelopment ofKarrinyup will see the centre expand from 59,715 square metres to 113,000 square metres, and willsurpass all other retail precincts previously delivered in Perth for its range of shops, lifestyle andentertainment options.

"We are excited to deliver the next phase of Karrinyup, which will reposition it to provide customers withan unprecedented retail and entertainment experience. AMP Capital has been investing in WesternAustralia since the late 1800s, and we look forward to investing further in the state."

Brookfield Multiplex CEO John Flecker said after completing an extensive refurbishment of KarrinyupShopping Centre in 1996, Brookfield Multiplex is delighted to deliver the centre's next redevelopment,which will transform it into a world-class shopping and lifestyle precinct.

Mr Flecker said: "Several members of our current team worked on the 1996 refurbishment, myselfincluded, so it's exciting to have the opportunity to again bring Karrinyup Shopping Centre into a new agewith AMP Capital.

"Brookfield Multiplex has a strong history of delivering landmark retail developments in Western Australiaand Karrinyup Shopping Centre will be no exception. We look forward to working collaboratively withAMP Capital and renowned architects Hames Sharley and Taylor Robinson to finalise the detailed designover the coming months ahead of starting construction next year."

The Mayor of the City of Stirling, Councillor Giovanni Italiano, said the city is very excited about the worksAMP Capital is about to embark upon at Karrinyup Shopping Centre. He said: "The new-look centre willbe destination shopping at its finest and, on behalf of Council, I can say that we are all greatly anticipatingthe end result, which will be simply outstanding."

Karrinyup Shopping Centre is managed by AMP Capital Shopping Centres on behalf of its owner,UniSuper. UniSuper has held an investment in Karrinyup Shopping Centre for more than 20 years andlooks forward to this high-quality centre continuing to deliver returns for its members over the long term.