NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING WITHOUT LIMITATION PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) (THE "SECURITIES ACT") OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES AND THE UNITED KINGDOM) MAY BE RESTRICTED BY LAW (SEE "OFFER AND DISTRIBUTION RESTRICTIONS" IN THE TENDER INFORMATION DOCUMENT).

On 3 December 2024, Citycon Oyj ("Citycon") announced an offer to the holders of its subsidiary's Citycon Treasury B.V.'s NOK 1.4bn 3.900% notes due September 2025 (of which NOK 1.3bn remained outstanding) (ISIN NO0010744139) and NOK 1.0bn 2.750% notes due September 2025 (of which NOK 1.0bn remained outstanding) (ISIN NO0010805898) (the "Notes"), to tender any and all of their Notes for purchase by Citycon for cash (the "Tender Offer"), subject to the terms and conditions described in the tender information document dated 3 December 2024 (the "Tender Information Document") including the New Financing Conditions.

Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Information Document.

On 4 December 2024, Citycon Treasury B.V. priced its EUR 350 million 5.000% Senior Unsecured Green Notes due 2030 (the "New Notes"). The New Notes are expected to settle on 11 December 2024 and a portion of the net proceeds from the New Notes will be used to fund the Tender Offer.

The Tender Offer expired at 14:00 CET on 9 December 2024 and Citycon today announces that, subject to the satisfaction (or waiver) of the New Financing Conditions, it will accept for purchase all Notes validly submitted for tender in the aggregate principal amount as follows:

Description of the Notes / ISIN / Acceptance Amount / Outstanding Amount after the Settlement Date

2015/2025 3.900% Notes / NO0010744139 / NOK 1,295,000,000 / NOK 5,000,000

2017/2025 2.750% Notes / NO0010805898 / NOK 962,000,000 / NOK 38,000,000

Settlement of the Tender Offer is expected to occur on or around 13 December 2024 (the "Settlement Date") and Citycon will also pay an amount equal to any accrued and unpaid interest on the Notes on the Settlement Date in accordance with the terms and conditions of the Notes.

The terms and conditions of the Notes will continue to be in effect for noteholders who do not participate in the Tender Offer and/or whose Notes are not accepted for repurchase by Citycon. The full terms and conditions of the Tender Offer can be found in the Tender Information Document. The Offer has now expired and no further Notes can be tendered for purchase pursuant to the Tender Offer.

Sole Dealer Manager: Nordea Bank Abp, nordealiabilitymanagement@nordea.com

DISCLAIMER

This announcement must be read in conjunction with the Tender Information Document. The distribution of this announcement and the Tender Information Document in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Information Document comes are required by each of Citycon and the Sole Dealer Manager to inform themselves about, and to observe, any such restrictions.

CITYCON OYJ

For further information, please contact: 

Eero Sihvonen

CFO

Contact requests through:

Anni Torkko

Investor Relations Manager

Tel. +358 45 358 0570

anni.torkko@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 an investment-grade credit rating from Standard & Poor's (BBB-). Citycon Oyj's shares are listed on Nasdaq Helsinki Ltd.

www.citycon.com