REVISED PROPOSAL FROM G.C HEVRON CAPITAL LTD.

July 12, 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, further to its announcement dated July 9, 2021; that the Company received a revised proposal from G.C Hevron Capital Ltd ("Hevron Capital"), resulting from technical errors in the translation of Hevron Capital's Proposal from Hebrew to English (the "Proposal"). According to the Proposal, in the settlement, the Company will allocate 74.9% of the Company's share capital to Hevron Capital and the remaining 25.1% of the Company's share capital shall be divided between the Company's shareholders (12.5%, instead of 10.1% in the original proposal) and the Company's bondholders (12.6%, instead of 15% in the original proposal).

The revised Proposal is attached as an appendix to this announcement.http://www.rns-pdf.londonstockexchange.com/rns/8865E_1-2021-7-12.pdf 

Beside the aforementioned change, the Proposal will remain unchanged.

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").