Citycon Oyj: Flagging notification in accordance with Chapter 9 Section 10 of the Finnish Securities Markets Act

ESPOO, Finland, July 12, 2022 /PRNewswire/ --

CITYCON OYJ   Stock Exchange Release   12 July 2022 at 20:30 hrs

Citycon Oyj ("Citycon" or the "Company") has received on 12 July 2022 the following notification pursuant to Chapter 9, Section 5 of the Finnish Securities Markets Act following the change in G City´s (former Gazit-Globe Ltd.) direct holding of shares in Citycon.

The change in ownership is due to the completion of the second instalment of a share transfer under a share purchase agreement, as notified in a previous flagging notification published on 28 December 2021, entered into by G City Ltd (former Gazit-Globe Ltd.) and its wholly-owned subsidiary Gazit Europe Netherlands BV. The completion of the first instalment of 10,883,747 shares was notified through a previous flagging notification published on 7 July 2022. This notification concerns the transfer of 6,401,253 shares in Citycon as the second instalment under the share purchase agreement. The share transfers pursuant to the share purchase agreement have now been completed, and no further transfers will take place under the agreement.

The second instalment has been completed pursuant to an irrevocable trade order provided on Friday 8 July 2022 to the broker engaged to execute the transfers under the share purchase agreement. The trade was technically booked on Monday 11 July 2022, with the settlement scheduled to take place on Wednesday 13 July 2022.

The completion of the share transfers under the share purchase agreement will not affect the aggregate total direct and indirect holdings of G City Ltd.

G City Ltd is controlled by Norstar Holdings Inc, which is ultimately controlled by Chaim Katzman. In addition to 70,274,016 shares held by G City Ltd and 17,285,000 shares held by Gazit Europe Netherlands BV after the execution of both share transfer instalments pursuant to the share purchase agreement, 35,771 shares held by Chaim Katzman have been taken into account in this notification.

Citycon has one series of shares in which each share carries one vote. The total number of shares and votes is 168,008,940.

The holding of shares of G City Ltd (former Gazit Globe Ltd). according to the notification:

Notified details of the resulting situation following the crossing of the threshold:

The controlled undertakings through which the shares, voting rights and financial instruments are effectively held:

CITYCON OYJ

For further information, please contact:
Sakari Järvelä
Vice President, Corporate Finance and Investor Relations
Tel. +358 50 387 8180
sakari.jarvela@citycon.com

Citycon is a leading owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces that enhance the communities in which they operate. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.5 billion. Our centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and anchored by grocery, healthcare and other services that cater to the everyday needs of customers.

Citycon has investment-grade credit ratings from Moody's (Baa3) and Standard & Poor's (BBB-). Citycon Oyj's shares are listed on Nasdaq Helsinki.

www.citycon.com

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