Citycon Resolved to Increase the Maximum Reward to be Paid in the Restricted Share Plan 2015

The Board of Directors has on 22 March 2017 resolved to adjust the amount of the maximum reward under the Restricted Share Plan 2015 approved by the Board of Directors in February 2015. The adjusted maximum total number of shares that can be paid for the group key employees under the Restricted Share Plan 2015 is 700,000 shares (also including the cash proportion to be used for taxes and tax-related costs) which represents a 200,000 share increase. The rewards from the Restricted Share Plan 2015 may be allocated until the end of 2018.

As a rule, the reward will be based on a valid employment or service contract of a key employee upon the reward payment, and it will be paid partly in the company's shares and partly in cash after the end of a two-year or a three-year vesting period.

Helsinki, 22 March 2017

Citycon Oyj

(Nasdaq Helsinki: CTY1S) is a leading owner, developer and manager of urban grocery-anchored shopping centres in the Nordic and Baltic regions, managing assets that total approximately EUR 5 billion and with market capitalisation of over EUR 2 billion. For more information about Citycon, please visit

www.citycon.com

CONTACT:

For further information, please contact:

CITYCON OYJ

Marcel Kokkeel, CEO

Tel. +358 40 154 6760

[email protected]

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