PROPOSAL RECIEVED FROM G.C HEVRON CAPITAL LTD.

July 9, 2021

PLAZA CENTERS N.V.

UPDATE REGARDING RECEIVED PROPOSAL FROM G.C HEVRON CAPITAL LTD.

Plaza Centers N.V. ("Plaza" or the "Company") announces today, that the Company received a proposal from G.C Hevron Capital Ltd ("Hevron Capital") (the "Proposal"). According to the Proposal, the Company's existing assets will be preserved in order to continue repaying the Company's obligations to its bondholders, while simultaneously enabling the flow of new activity to the Company in order to maximize profits for all the Company's shareholders and bondholders.

The Proposal is attached as an appendix to this announcement.http://www.rns-pdf.londonstockexchange.com/rns/8293E_1-2021-7-9.pdf

The Company's Board of Directors discussed and reviewed the Proposal and accordingly decided to recommend to accept the Hevron Capital's request for 60 days of No-Shop, in which Hevron Capital will conduct Due Diligence.

Without derogating from the aforementioned, the Proposal will be presented before to Company's bondholders in the upcoming bondholders meeting which will be held on July 13, 2021.

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, as of 19 October 2007, on the Warsaw Stock Exchange (LSE: "PLAZ", WSE: "PLZ/PLAZACNTR") and, on the Tel Aviv Stock Exchange.