December 13, 2022

PLAZA CENTERS N.V.

UPDATE REGARDING THE PRE-SALE AGREEMENT FOR THE SALE OF THE COMPANY'S INDIRECT SHAREHOLDINGS IN THE DAMBOVITA CENTER PROJECT ("CASA RADIO")

Plaza Centers N.V. ("Plaza" or the "Company") announced today that further to its previous announcement dated December 20, 2021 regarding the pre-sale agreement (the "Agreement") with AFI Europe N.V ("AFI" and together with the Company, the "Parties") for the sale of its subsidiary (the "SPV") which holds 75% in the Casa Radio Project (the "Project"); that the Parties have signed an addendum to the Agreement (the "Addendum") which pursuant to the Addendum the Parties agreed to extend the Long Stop Date, which is the date on which the parties will execute a share purchase agreement, subject to the satisfaction of conditions precedent (the "SPA"(, until December 31, 2023.

In addition, for the avoidance of doubt, the extension of the Long Stop Date as stated above, has been approved at the Company's bondholders' meetings which were held on November 8, 2022.

There can be no certainty that the SPA will eventually be executed and/or that the Transaction will be consummated as presented above or at all.

Ends

For further details, please contact:

Plaza

Ron Hadassi, Executive director;                                                     972-526-076-236

Forward-looking statement

This press release may contain forward-looking statements with respect to the completion of the transaction. Such statements are based on current expectations, estimates and projections of Plaza Centers N.V. and information currently available to the Company. Plaza Centers N.V. cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements.

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").