Citycon Oyj

Earnings Release • Oct 7, 2024

Disclosure 450942

Citycon Oyj - Inside information

Inside information, profit warning: Citycon lowers its guidance for 2024 following the divestments and one-time reorganisation costs

Citycon Oyj Inside Information 7 October 2024 at 20:15 hrs Citycon lowers its guidance for the financial year 2024. The change in guidance is mainly due to the combined effect of the executed divestments of Kongssenteret and Trekanten, the weakening NOK and SEK FX-rates in Q3/2024, postponed completion of Barkarby residential project, as well as previously announced one-time reorganisation costs following the organisational savings program. Additionally, the total number of shares increased following the share issue completed in February 2024, which also affects negatively the EPRA EPS and the adjusted EPRA EPS. Citycon's updated guidance for 2024 Direct operating profit MEUR 183-187 EPRA Earnings per share (basic) EUR 0.59-0.63 Adjusted EPRA Earnings per share (basic) EUR 0.45-0.49 The outlook assumes that there are no major changes in macroeconomic factors and no major disruptions from the war in Ukraine. These estimates are based on the existing property portfolio, including Kista 100% and impact from executed divestments, as well as existing estimates of inflation, EUR-SEK and EUR-NOK exchange rates, and interest rates. Citycon's previous guidance for 2024 (specified on 17 July 2024) Direct operating profit MEUR 185-195 EPRA Earnings per share (basic) EUR 0.62-0.68 Adjusted EPRA Earnings per share (basic) EUR 0.46-0.52 The outlook assumes that there are no major changes in macroeconomic factors and no major disruptions from the war in Ukraine. These estimates are based on the existing property portfolio, including Kista 100%, as well as year-end 2023 estimates of inflation, EUR-SEK and EUR-NOK exchange rates, and interest rates. CITYCON OYJ For further information, please contact: Sakari Järvelä Chief Financial Officer 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 4.2 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 rating from Standard & Poor's (BBB-). Citycon Oyj's shares are listed on Nasdaq Helsinki. www.citycon.com