June 12, 2023

PLAZA CENTERS N.V.

UPDATE REGARDING SUBMISSION OF A REQUEST FOR ARBITRATION AGAINST ROMANIA WITH RESPECT TO THE "CASA RADIO" PROJECT

Further to its last announcement dated April 11, 2023, Plaza Centers N.V. ("Plaza" or the "Company") announces today that, having on May 16, 2022 issued a Request for Arbitration against Romania with respect to the "Casa Radio" project (the "Project") (the "Arbitration"), on May 18, 2023 the Company submitted its objection to Romania's Request for Bifurcation into separate phases on jurisdiction and the merits. The Company announces that Romania's application has been rejected and it has now been determined that the Arbitration will not be bifurcated. Romania is now required to file its defence to the Company's claims in August 2023.

Ends

For further details, please contact:

Plaza

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

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").