Asset Monetisation Programme Update

17/07/2026 08:30 NZST, MKTUPDTEP

MARKET RELEASE

SkyCity Entertainment Group Limited (SKC.NZX/SKC.ASX)

17 July 2026

Asset Monetisation Programme Update

99 Albert Street and Victoria Street Properties Sale Now Unconditional

SkyCity Entertainment Group Limited (SkyCity) is pleased to advise that the sale of the 99 Albert Street office building, together with investment properties on Victoria Street (the Commercial Properties) is now unconditional. Mainland Capital, a Christchurch-based commercial property funds manager will acquire the Commercial Properties for $74,500,000 in a joint venture with Russell Property Group. The expected settlement date is 1 September 2026.

SkyCity Chief Executive Officer Jason Walbridge said, "We are pleased that the sale of the Commercial Properties has progressed to an unconditional status. Mainland Capital shares our commitment to enhancing the precinct, and we look forward to working with them as valued neighbours. SkyCity will use the capital proceeds to repay debt and provide SkyCity with greater financial flexibility to navigate current market conditions."

Ends

For more information, please contact:

Investors and Analysts - Craig Brown

Head of Investor Relations & Corporate Development

Mobile: +64 27 470 6802

E-mail: craig.brown@skycity.co.nz

Media - Steve Pettigrew

General Manager Corporate Affairs

Mobile: 027 258 6257

E-mail: steve.pettigrew@skycity.co.nz

This announcement has been authorised for release by:

Phil Leightley, General Counsel & Company Secretary