Westfield : WAT AND WFD 2016 ANNUAL FINANCIAL REPORTS

17 March 2017 The Manager

Company Announcements Office ASX Limited

Level 4, Exchange Centre 20 Bridge Street

SYDNEY NSW 2000

Dear Sir/Madam

Westfield Corporation

Level 29

85 Castlereagh Street

Sydney NSW 2000

GPO Box 4004

Sydney NSW 2001 Australia

Telephone 02 9273 2000

Facsimile 02 9358 7241

Internet www.westfieldcorp.com

On 23 February 2017, Westfield Corporation announced its 2016 full year results and released its 2016 Annual Financial Report. The Westfield Corporation Annual Financial Report has been despatched to members.

Attached are the 2016 Annual Financial Reports for each of Westfield America Trust and WFD Trust (two of the three stapled entities which comprise Westfield Corporation). The results of these Trusts are consolidated into Westfield Corporation's accounts. Given that Westfield Corporation operates as one co- ordinated economic entity, reference should be made to Westfield Corporation's consolidated accounts for an understanding of the results and operations of Westfield Corporation as a whole.

Yours faithfully

Encl.

Westfield Corporation Limited ABN 12 166 995 197

Westfield America Management Limited ABN 66 072 780 619 AFS Licence 230324

as responsible entity of Westfield America Trust ABN 27 374 714 905  ARSN 092 058 449 and

as responsible entity of WFD Trust ABN 50 598 857 938  ARSN 168 765 875

Westfield America Management Limited ABN 66 072 780 619 AFSL No. 230324 as responsible entity of Westfield America Trust ARSN 092 058 449

Directory

Westfield Corporation Westfield Corporation Limited ABN 12 166 995 197

WFD Trust

ARSN 168 765 875

(responsible entity Westfield America Management Limited ABN 66 072 780 619,

AFSL No. 230324)

Westfield America Trust

ARSN 092 058 449

(responsible entity Westfield America Management Limited ABN 66 072 780 619,

AFSL No. 230324)

Registered Office

Level 29

85 Castlereagh Street

Sydney NSW 2000

Telephone: +61 2 9273 2000

Facsimile: +61 2 9358 7241

United States Office

41st Floor

2049 Century Park East Century City, CA 90067

Telephone: +1 310 478 4456

Facsimile: +1 310 481 9481

United Kingdom Office 6th Floor, MidCity Place 71 High Holborn

London WC1V 6EA

Telephone: +44 20 7061 1400

Facsimile: +44 20 7061 1401

Secretaries

Simon J Tuxen Maureen T McGrath

Auditors

Ernst & Young

The Ernst & Young Centre 200 George Street

Sydney NSW 2000

Investor Information Westfield Corporation Level 29

85 Castlereagh Street

Sydney NSW 2000

Telephone: +61 2 9273 2010

E-mail: investor@au.westfield.com Website: www.westfieldcorp.com/investors

Principal Share Registry

Computershare Investor Services Pty Limited Level 4, 60 Carrington Street

Sydney NSW 2000

GPO Box 2975

Melbourne VIC 3001

Telephone: +61 3 9415 4070

Enquiries: 1300 132 211

Facsimile: +61 3 9473 2500

E-mail: web.queries@computershare.com.au Website: www.computershare.com

ADR Registry

Bank of New York Mellon Depository Receipts Division 101 Barclay Street

22nd Floor

New York, New York 10286

Telephone: +1 212 815 2293

Facsimile: +1 212 571 3050 Website: www.adrbny.com

Code: WFGPY

Listing

Australian Securities Exchange - WFD

Website

westfieldcorp.com

The papers used in the production of this year's Westfield America Trust reports are produced using environmentally responsible papers produced

from well managed forests.

TYPESETTING: MONCHOCREATIVE.COM.AU

Annual FinancialReport

For the financial year ended 31 December 2016

Contents

1. Income Statement

2. Statement of Comprehensive Income

3. Balance Sheet

4. Statement of Changes in Equity

5. Cash Flow Statement

6. Notes to the Financial Statements

1. Directors' Declaration

2. Independent Audit Report

1. Corporate Governance Statement

2. Members' Information

WESTFIELD AMERICA TRUST ANNUAL FINANCIAL REPORT 2016 // PAGE 1