G City Ltd. commences the unconditional voluntary public cash tender offer for all the outstanding shares in Citycon Oyj on 6 July 2026

NOT FOR RELEASE, PUBLICATION, OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, OR SOUTH AFRICA, OR IN ANY OTHER JURISDICTION IN WHICH THE TENDER OFFER WOULD BE PROHIBITED BY APPLICABLE LAW. FOR FURTHER INFORMATION, PLEASE SEE SECTION ENTITLED “IMPORTANT INFORMATION” BELOW.

Citycon Oyj (“Citycon”) announced on 17 June 2026 that G City Ltd (”G City”) had announced  a voluntary public cash tender offer for all the remaining Shares in Citycon. G City has previously made a mandatory public cash tender offer for all the outstanding shares and stock options in Citycon, the final results of which were announced on 11 March 2026.

G City has today announced the following information regarding its voluntary public cash tender offer for all the outstanding shares in Citycon:

As announced on 17 June 2026, G City Ltd. (the “Offeror”), a limited liability company incorporated under the laws of Israel, will make an unconditional voluntary public cash tender offer for all of the issued and outstanding shares in Citycon Oyj (the “Company” or “Citycon”) that are not held by the Offeror or Gazit Europe Netherlands BV (the “Shares” or, individually, a “Share”) (the “Tender Offer”).

The Finnish Financial Supervisory Authority has today approved the Finnish language version of the tender offer document relating to the Tender Offer (the “Tender Offer Document”). The offer period for the Tender Offer will commence on 6 July 2026 at 9:30 a.m. (Finnish time) and expire on 3 August 2026 at 4:00 p.m. (Finnish time) (the “Offer Period”). The Tender Offer is currently expected to be completed during the third quarter of 2026. The Offeror may extend the Offer Period in accordance with, and subject to, the terms and conditions of the Tender Offer and applicable laws and regulations. Any possible extension of the Offer Period will be announced by a release.

The Finnish language version of the Tender Offer Document is available on the internet at evli.com/citycon-julkinen-ostotarjous. The English language translation of the Tender Offer Document is available on the internet at evli.com/en/citycon-public-tender-offer.

The offer price is EUR 2.90 in cash for each Share validly tendered in the Tender Offer (the “Offer Price”). The Offer Price is subject to any adjustments set out below.

The Offer Price has been determined based on 183,569,011 issued and outstanding Shares. Should the Company increase the number of Shares that are issued and outstanding as a result of a new share issue, reclassification, stock split or any other similar transaction, or should the Company distribute a dividend or otherwise distribute funds or any other assets to its shareholders, or if a record date with respect to any of the foregoing occurs prior to any of the settlements of the completion trades (whether after the expiry of the Offer Period or during or after any subsequent offer period), the Offeror reserves the right to adjust the Offer Price payable by the Offeror on a euro-for-euro basis.

As at the date of this release, the Board of Directors of Citycon has not issued a statement on the Tender Offer. The Offeror will supplement the Tender Offer Document with Citycon’s Board of Directors’ statement after its publication.

The obligation of the Offeror to complete the Tender Offer is not subject to any conditions.

Most of the Finnish book-entry account operators are expected to send a notification of the Tender Offer, including instructions and the relevant acceptance form to their customers who are registered as shareholders in the shareholders’ register of the Company maintained by Euroclear Finland Oy. Shareholders who do not receive such notification from their account operator or asset manager should primarily contact their account operator or asset manager and can secondarily contact Evli Plc (“Evli”) by telephone +358 9 4766 9573 (weekdays between 9:00 a.m. and 4:00 p.m. (Finnish time)) or by email operations@evli.com in order to receive the necessary information and submit their acceptance of the Tender Offer.

A shareholder in the Company whose shareholdings are registered in the name of a nominee and who wishes to accept the Tender Offer shall effect such acceptance in accordance with the nominee’s instructions. The Offeror will not send acceptance forms or other documents related to the Tender Offer to such shareholders in the Company.

A shareholder in the Company who is registered as a shareholder in the shareholders’ register of the Company and who wishes to accept the Tender Offer shall submit a properly completed and duly executed acceptance form to the account operator managing the shareholder’s book-entry account in accordance with its instructions and within the time limit set by the account operator. The acceptance form shall be submitted so that it is received during the Offer Period (including any extended Offer Period or subsequent offer period), however, always in accordance with the instructions of the account operator.

The Offeror will announce the preliminary result of the Tender Offer on or about the first (1st) Finnish banking day following the expiry of the Offer Period or, if applicable, the extended or discontinued Offer Period. The Offeror will announce the final result on or about the third (3rd) Finnish banking day following the expiry of the Offer Period or, if applicable, the extended or discontinued Offer Period. The announcement of the final result will confirm the percentage of the Shares that have been validly tendered and not properly withdrawn.

The Offeror reserves the right to acquire Shares during and/or after the Offer Period (including any extension thereof and any subsequent offer period) in public trading on Nasdaq Helsinki Ltd (“Nasdaq Helsinki”) or otherwise.

The terms and conditions of the Tender Offer are enclosed in their entirety to this release (Appendix 1).

The Offeror has appointed Evli as its financial adviser and arranger of the Tender Offer and Roschier, Attorneys Ltd. as legal adviser in connection with the Tender Offer. Meitar Law Offices advises the Offeror as to certain matters related to U.S. securities laws with respect to the Tender Offer.

The full release published by G City is attached to this stock exchange release.

The Board of Directors of Citycon will review the tender offer by independent members in accordance with the Securities Markets Act and other applicable laws and regulations and publish its statement on the tender offer. Citycon will follow the Helsinki Takeover Code issued by the Finnish Securities Market Association.