UPDATE REGARDING G.C HEVRON CAPITAL PROPOSAL

July 14, 2021

PLAZA CENTERS N.V.

UPDATE REGARDING G.C HEVRON CAPITAL PROPOSAL

Plaza Centers N.V. ("Plaza" or the "Company") announces today, further to its announcements dated July 9, 2021 and July 12, 2021, regarding G.C Hevron Capital Ltd's proposal ("Hevron Capital") (the "Proposal"); that in accordance with the Company's bondholders meeting, it was resolved that according to the Company's bondholders' request, The Company will be able to receive proposals for a period of 14 days, as of July 13, 2021 (the date of the bondholders meeting), before the Hevron Capital's No-Shop clause, which included in its Proposal, will officially begin.

If additional proposals will not be received by the aforementioned period, Hevron Capital's No-Shop clause will be automatically valid. However, it shall be clarified that if additional proposals will be received, these proposals will be up to vote.

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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