November 12, 2021

PLAZA CENTERS N.V.

UPDATE REGARDING G.C HEVRON CAPITAL RESTRUCTURING PROPOSAL PLAN

Plaza Centers N.V. ("Plaza" or the "Company") announces today, further to its previous announcements dated July 12, 2021, August 1, 2021, August 10, 2021 and October 4, 2021 regarding G.C Hevron Capital Ltd's proposal ("Hevron Capital" and "Hevron Capital's Proposal", respectively) and regarding the extension of the "No-Shop" period by an additional 30 days, until November 12, 2021; that Hevron Capital submitted yesterday to the Company a restructuring proposal plan (the "Restructuring Proposal Plan") based on Hevron Capital's Proposal.

The Company posted Hevron Capital's Restructuring Proposal on its website at:

plazacenters.com - news and media room / press releases / 2021

It shall be clarified that the Company's Board of Directors will summon a bondholders meeting in order to discuss the Restructuring Proposal Plan.

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For further details, please contact:

Plaza

Ran Yaacovs, CFO                                                  972-546-303-006

Notes to Editors

Plaza Centers N.V. (www.plazacenters.com) is listed on the Main Board of the London Stock Exchange, and, on the Warsaw Stock Exchange (LSE: "PLAZ", WSE: "PLZ/PLAZACNTR") and, on the Tel Aviv Stock Exchange("PLAZ").

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