UPDATE RE ARBITRATION PROCESS AGAINST ROMANIA

May 11th, 2026

PLAZA CENTERS N.V.

UPDATE REGARDING ARBITRATIONS AGAINST ROMANIA WITH RESPECT TO THE "CASA RADIO" PROJECT

Further to its last announcement dated April 13th, 2026, Plaza Centers N.V. ("Plaza" or the "Company") announces today that, in connection with the arbitration proceedings before the London Court of International Arbitration ("LCIA") initiated by the Ministry of Finance of Romania in relation to the Casa Radio / Dâmbovița Center Project in Bucharest ("Casa Radio"), the Company filed on May 8, 2026 its Statement of Defence and Statement of Counterclaim.

The submission rejects the claims asserted against the Company and includes counterclaim seeking compensation in connection with the dispute in an amount ranging between approximately EUR 60 million and EUR 420 million.

The Company further announces that, regarding the arbitration proceedings before the International Centre for the Settlement of Investment Disputes ("ICSID") initiated by the Company in relation to the Casa Radio and the LCIA proceedings, the Company has received the notice of termination of engagement with law firm in London who represented the Company in the ICSID and LCIA arbitrations.

According to the notice, the termination of the engagement is effective as of May 9, 2026.

The Company is assessing its position and considering all available options and next steps.

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