Mission, Vision and Strategy

Mission

Citycon´s mission is to become better, stronger and bigger in order to achieve a leading position in the shopping centre business in the Nordic and Baltic regions.

• Better: Focus on improving profitability by enhancing operational performance

• Stronger: Divest non-core properties and bring joint venture partners into selected core properties to recycle capital and strengthen the balance sheet

• Bigger: Grow through extension and redevelopment of existing shopping centres as well as selective mergers and acquisitions in order to become more efficient and more relevant to stakeholders

Vision

Citycon´s vision is to double its portfolio during next five years.

Currently, Citycon is a market leader in Finland. While the company intends to retain this position, it also aims to increase the relative importance of other countries included in its strategy. Apart from Finland, currently the company also owns shopping centres in Sweden, Estonia and Lithuania. Going forward, Norway, Denmark and Latvia will also be included in the strategy.

Citycon will concentrate on competitive shopping centres located in winning cities.

Strategy

Citycon has clarified its strategy in the summer 2011.

Currently Citycon owns 36 shopping centres and 46 other properties. The company will define which properties are core in the current portfolio and will concentrate on shopping centres going forward. The clarified strategy includes divestment of non-core assets and acceleration of planned redevelopments of its existing strategic shopping centres. Citycon also seeks acquisition targets in which value can be added by active management.

The ownership structure of the current property portfolio may be subject to changes by, for example, including joint-venture investors in Citycon’s core shopping centres. In addition, Citycon may take over the management of more shopping centres partially owned by other investors.

To implement the growth strategy, the company will need both equity and debt. Citycon will use a range of financing sources depending on what is cost-efficient.

A key part of Citycon’s clarified strategy is improving the direct result from operations. Costs will be controlled even more closely and the company will strive for stronger rental growth. Marketing has a key role in this effort for stronger rental growth.