Citycon Oyj

Major Shareholding Notification • Mar 3, 2023

Disclosure 429308

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 3 March 2023 at 14:50 hrs Citycon Oyj (“Citycon” or the “Company”) has received on 2 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 first 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 3,200,000 shares in Citycon as the first instalment under the share purchase agreement. 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. in Citycon. 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 20,485,000 shares held by Gazit Europe Netherlands B.V., the 15,800,000 shares to be transferred based on the share purchase agreement and 51,274,016 shares held by G City Ltd., 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 9.40 21.60 situation on the Netherlands - 30.52 date on B.V.: - 0.02 which threshold 12.19 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 11.31 21.60 previous Netherlands - 30.52 notification B.V.: - 0.02 (if applicable) 10.29 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 20,485,000 - 12.19 - FI4000369947 51,274,016 - 30.52 - FI4000369947 35,771 - 0.02 . SUBTOTAL A 71,794,787 42.73 B: Financial Instruments according to SMA 9:6a Type of Expiration Exercise/ Physical Number of % of shares financial date Conversion or shares and voting instrument Period cash and voting rights settlement rights Share - - Ph ysical 15,800,000 9.40 purchase settlement agreement leading to change in ownership SUBTOTAL B 15,800,000 9.40 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 12.19 9.40 21.60 Netherlands BV TOTAL 42.73 9.40 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