December 21, 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 13, 2022 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"); the Company further clarifies that the extension of the Long Stop Date has been reported by the Company on the Company's bondholders' meetings which was held on November 8, 2022. The Company extended the Long Stop Date per decision of the Board of Directors of the Company.

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").