G City — M&A Activity 2026

Jan 13, 2026

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January 13, 2026

G City Ltd. (the Company)

To: To:

Israel Securities Authority Tel Aviv Stock Exchange Ltd.

Via Magna system Via Magna system

Dear Sir/Madam,

Subject: Full Mandatory Tender Offer by the Company to Minority Shareholders of Citycon Oyj – Dividend Distribution and Adjustment of Tender Offer Price

Dividend and Adjustment of Tender Offer Price

Further to the Company's immediate reports dated November 3, 2025, December 2, 2025, and December 31, 2025¹ regarding the submission of a full tender offer by the Company to the minority shareholders of Citycon Oyj, a subsidiary of the Company whose shares are traded on the Helsinki Stock Exchange, Finland (CTY), the Company hereby reports that on January 12, 2026, the board of directors of CTY approved the distribution of a dividend to all CTY shareholders in the amount of EUR 0.2 per share.

In accordance with the provisions of the tender offer specication published by the Company in Finland (including the Company's notice in the specication that it reserves the right to adjust the tender offer price in the event of a dividend being distributed during the tender offer period), the Company has decided to adjust the tender offer price according to the amount of the dividend to be distributed per share, so that it will be reduced from EUR 4 per share to EUR 3.8 per share.

Accordingly, the Company has approached the authority in Finland (Finnish Financial Supervisory Authority) to obtain approval for amending the tender offer specication, and the aforementioned price adjustment will take effect subject to receiving such approval.

It is claried that there is no certainty as to the outcome of the tender offer to the minority shareholders of Citycon, which is subject to regulatory approvals and market conditions.

Respectfully,

G City Ltd.

By:

Chaim Katzman, Deputy Chairman of the Board and CEO of the Company Gil Kotler, Chief Financial Ocer

¹ Reference numbers: 2025-02-083830, 2025-01-095462, and 2025-01-105927, respectively.