Citycon Oyj announced its invitation to holders of the outstanding EUR 457,617,000 2.50% Guaranteed Notes due 2024 of Citycon Treasury B.V. guaranteed by the Company (ISIN: XS1114434167) issued in separate tranches on 1 October 2014 and 10 June 2020 (the "Securities"), to tender such Securities for purchase by the Company for cash (the "Offer") on the terms and subject to the conditions set out in the tender offer memorandum dated 22 May 2023 (the "Tender Offer Memorandum") prepared by the Company. The Offer is subject to the offer and distribution restrictions set out below and as more fully described in the Tender Offer Memorandum. Copies of the Tender Offer Memorandum are (subject to offer and distribution restrictions) available from the Tender Agent as set out below.

Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum. The purpose of the Offer is, amongst other things, to deleverage the Company's balance sheet and manage the debt maturity profile. The price the Company will pay for Securities validly tendered and accepted for purchase by the Company pursuant to the Offer will be EUR 975 per EUR 1,000 in principal amount.

The Company proposes to accept, on the terms and subject to the conditions described in the Tender Offer Memorandum, Securities for purchase up to a maximum principal amount (the "Maximum Acceptance Amount") such that the total purchase consideration for Securities validly tendered and accepted for purchase (including Accrued Interest Payments) does not exceed EUR 175,000,000. The Company reserves the right, in its sole and absolute discretion, to purchase more or less than the Maximum Acceptance Amount. The Company will determine the aggregate principal amount of Securities which the Company elects to purchase pursuant to the Offer (the "Acceptance Amount") in its sole and absolute discretion.

The total purchase consideration for Securities validly tendered and accepted for purchase (including Accrued Interest Payments) will be funded by cash on the Company's balance sheet. The Company is not under any obligation to accept for purchase any validly tendered Securities pursuant to the Offer. The acceptance for purchase by the Company of Securities tendered pursuant to the Offer is at the sole and absolute discretion of the Company and tenders may be rejected for any reason, subject to applicable law.

The Company reserves the right at any time to waive any or all of the conditions of the Offer as set out in the Tender Offer Memorandum. The Company will also pay, on the Settlement Date, an Accrued Interest Payment in respect of Securities accepted for purchase pursuant to the Offer.