March 30, 2022

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[1] 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 to the Company a request to extend the No-Shop period, due to the complexity and the vast amount of data that needs to be procced in order to evaluate the proposed settlement ("Hevron Capital' Request").

Following the above, the Company's Board of Directors approves Hevron Capital's to extend the "No-Shop" period until May 20, 2022 subject to the approval of the Company's bondholders' .

Ends

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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