Citycon Oyj

Major Shareholding Notification • Mar 10, 2023

Disclosure 429740

Citycon Oyj - Major shareholder announcements

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

CITYCON OYJ Stock Exchange Release 10 March 2023 at 19:00 hrs Citycon Oyj (“Citycon” or the “Company”) has received on 10 March 2023 the following notification pursuant to Chapter 9, Section 5 of the Finnish Securities Markets Act following the change in Gazit Europe Netherlands B.V. direct holding of shares in Citycon. The change in ownership is due to the completion of the sixth instalment of a share transfer under a share purchase agreement, as notified in a previous flagging notification published on 24 February 2023, entered into by Gazit Europe Netherlands B.V. and its parent G City Ltd. on 22 February 2023. This notification concerns the transfer of 3,000,000 shares in Citycon as the sixth and last instalment under the share purchase agreement. The completion of the share transfers under the share purchase agreement did not affect the aggregate total direct and indirect holdings of G City Ltd. in Citycon as the shares previously reported to be held by Gazit Europe Netherlands B.V. through financial instruments were held by G City Ltd. The parent of Gazit Europe Netherlands B.V., G City Ltd., is controlled by Norstar Holdings Inc, which is ultimately controlled by Chaim Katzman. In addition to 36,285,000 shares held by Gazit Europe Netherlands B.V., 51,274,016 shares held by G City Ltd. and 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 Gazit Europe Netherlands B.V and G City Ltd (parent of Gazit Europe Netherlands B.V.) according to the notification: % of shares and % of shares and voting rights Total of voting rights through financial instruments both in % Resulting Gazit Europe - 21.60 situation on the Netherlands - 30.52 date on B.V.: - 0.02 which threshold 21.60 was crossed or G City Ltd. reached (parent of Gazit Europe Netherlands B.V.): 30.52 Additional shares held by Chaim Katzman: 0.02 Position of Gazit Europe 3.69 21.60 previous Netherlands - 30.52 notification B.V.: - 0.02 (if applicable) 17.91 G City Ltd. (parent of Gazit Europe Netherlands B.V.): 30.52 Additional shares held by Chaim Katzman: 0.02 Notified details of the resulting situation following the crossing of the threshold: A: Shares and voting rights Class/type of Number of % of shares and voting rights sharesISIN shares and code (if voting possible) rights Direct(SMA Indirect(SMA Direct(SMA 9:5) Indirect(SMA 9:6 and 9:7) 9:5) 9:6 and 9:7) FI4000369947 36,285,000 - 21.60 - FI4000369947 51,274,016 - 30.52 - FI4000369947 35,771 - 0.02 . SUBTOTAL A 87,594,787 52.14 B: Financial Instruments according to SMA 9:6a Type of Expiration Exercise/ Physical or Number of shares % of shares financial date Conversion cash and voting rights and voting instrument Period settlement rights - - - - - - SUBTOTAL B - - The controlled undertakings through which the shares, voting rights and financial instruments are effectively held: Name % of shares % of shares and voting rights Total of both and voting through financial instruments rights Chaim Katzman 0.02 0.02 Norstar Holdings Inc G City Ltd. 30.52 30.52 Gazit Europe 21.60 21.60 Netherlands BV TOTAL 52.14 52.14 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 4.3 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's shares are listed on Nasdaq Helsinki Ltd. www.citycon.com