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       23 February 2024 at 20:40 hrs

Citycon Oyj (“Citycon” or the “Company”) has received on 23 February 2024 the
following notification pursuant to Chapter 9, Section 5 of the Finnish
Securities Markets Act according to which G City Ltd.'s holding of shares in
Citycon has decreased below fifty (50) percent.

G City Ltd. has subscribed for 3,700,000 new shares in Citycon Oyj in the
directed share issue of 11,900,000 new shares by Citycon Oyj, the results of
which were announced on 23 February 2024. The new 11,900,000 shares were
registered in the Finnish Trade Register on 23 February 2024 and the resulting
number of all registered shares in Citycon Oyj is 183,894,204. The aggregate
total shareholding of G City Ltd. in Citycon Oyj has decreased below the 50%
threshold and this notification describes the shareholdings following the
delivery of the new shares subscribed in the directed share issue, which is
expected to take place on 27 February 2024. Until the delivery of such new
shares to all investors, including G City Ltd., the number of shares held by G
City Ltd. in Citycon Oyj will not increase.

G City Ltd., the parent of Gazit Europe Netherlands B.V., is controlled by
Norstar Holdings Inc, which is ultimately controlled by Chaim Katzman. In
addition to 54,974,016 shares held by G City Ltd. (including the shares
subscribed for in the directed share issue) and 36,285,000 shares held by Gazit
Europe Netherlands B.V., 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 183,894,204.

The holding of shares of G City Ltd. according to the notification:

                   % of shares and   % of shares and voting rights  Total of
                    voting rights    through financial instruments  both in %

Resulting         G City Ltd.:       -                              29.89
situation on the  29.89              -                              19.73
date on           Gazit Europe       -                              0.02
which threshold   Netherlands BV
was crossed or    (wholly
reached           -owned subsidiary
                  of G City Ltd):
                  19.73
                  Additional shares
                  held by Chaim
                  Katzman: 0.02
Position of       G City Ltd.:       -                              28.81
previous          28.81              -                              21.10
notification      Gazit Europe       -                              0.02
(if applicable)   Netherlands BV
                  (wholly
                  -owned subsidiary
                  of G City Ltd.):
                  21.10
                  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   54,974,016    -                29.89                      -
FI4000369947   36,285,000    -                19.73                      -
FI4000369947   35,771        -                0.02                       -
SUBTOTAL A     91,294,787                     49.65

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.    29,89                                       29.89
Gazit Europe   19.73                                       19.73
Netherlands
BV
TOTAL          49,65                                       49.65

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 4.0 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's shares are listed on Nasdaq Helsinki Ltd.
www.citycon.com