CITYCON INVESTOR PRESENTATION CITYCON – URBAN CONVENIENCE IN THE HEART OF COMMUNITIES LEADING OWNER, MANAGER AND DEVELOPER OF SHOPPING CENTRES IN THE NORDICS

▪ Net rental income in 2019 MEUR 217 ▪ Portfolio value EUR 4.4BN ▪ 41 shopping centres1) ▪ Market capitalization EUR 1.7 BN ▪ 170 million visitors p.a. ▪ 234 employees ▪ GLA 1.2 million sq.m. ▪ Investment grade credit ratings: Baa3 & BBB- 10 Stable business model and diversified tenant mix

2 Pan-Nordic reach with leading positions in , 181) 9 , and

Well-balanced portfolio with densification potential

2 3 Key figures 31 December 2019 1) Includes 3 shopping centres acquired on Feb 2020 Number of shopping centres WE HAVE FOUR STRATEGIC FOCUS AREAS

OPERATIONAL EXCELLENCE GROWTH FROM SPECIALITY − Harmonize processes, policies and practices LEASING − Centralize procurement − 170 million visitors provide strong basis for specialty leasing opportunities − Re-negotiating large frame contracts with fixed prices − Largest potential in common area leasing − Maintain strict control on operating expenses and − Next action points: Mapping out new GLA in the capital expenditure. highest trafficked areas and creating appropriate pricing structure INCREASED FOCUS ON CAPITAL MIX USE DEVELOPMENT EXPENDITURE − We have significant opportunities to create further value through densification ‒ First step: Rigorous process implemented to review capital expenditure at all assets − Potential GBA can either be developed as residential or offices depending on demand and market situation ‒ Second step: Optimize capital expenditure spend and allocate money based on need / return. Thorough post- − Several options to realize densification potential mortem review of results. − Own development − Joint venture ‒ Third step: maintain strict capex control going forward 4 − Divestment to third party WE ARE A TRUE PAN-NORDIC PLAYER

262 132 110 92 63 FINLAND SPONDA KEVA IDEAPARK ELO

265 228 210 207 185 #1 SWEDEN

OLAV THON ATRIUM UNIBAIL- STEEN &STROM LJUNGBERG RODAMCO- 1213 WESTFIELD #2 #5 #2 343 287 214 NORWAY

OLAV THON STEEN & STROM SCALA RETAIL 178 PROPERTY 100 80 ESTONIA ASTRI LINSTOW

Retail GLA (thousand sq.m.) Source: Company reports, Pangea Property Partners analysis, as per December 2018 and Finnish Shopping Centres 2018. Includes only majority-owned 5 shopping centres. Includes some assumptions on retail proportion out of total GLA, where retail data not available. IN THE CONTINENTAL EUROPEAN CONTEXT WE ARE A MID-SIZED PLAYER

TOTAL ASSETS, EUR BILLION PORTFOLIO VALUE

65.2

Finland & Estonia Sweden & 40% 1) 31% 4.6 23.7 EUR billion

4.6 4.6 3.8 3.7 2.6

Unibail- Klepierre Deutche Citycon Euro- Wereldhave Atrium Norway Rodamco- Euroshop commercial European 29% Westfield RE

6 Source: company reports 1)Including Kista Galleria WE HAVE ALMOST 30 YEARS OF RETAIL EXPERIENCE AND NORDIC EXPANSION

5 PORTFOLIO VALUE Q4/2019 SHAREHOLDER STRUCTURE 31 − Portfolio value EUR 4.5 billion DECEMBER 2019

2014 Gazit Globe 48.6% 4 − CPPIB becomes strategic CPP Investment Board shareholder, European Holdings 15.0% 15% ownership Free float 2005 36.4% 1998 3 − International expansion − Focus shifted to retail starts: first acquisitions in 2015 properties 1988 Sweden and Estonia − Acquisition of − Founded by Sampo Norwegian Sektor Pension Ltd, Gruppen for EUR 1.5 billion Imatran Voima Oy, 2003 Rakennustoimisto 2013 2 − Strategy to include also A. Puolimatka Oy and − Acquisition of Kista − Share listed on Nasdaq Helsinki since 1988 (re)development Postipankki Galleria in Stockholm of assets − Listed on Helsinki in JV with CPPIB − Ticker CTY1S − Ownership base Stock Exchange − Investment-grade credit internationalised − Office assets ratings by S&P and − 17,396 shareholders in total 1 2007 Moody’s − Acquisition of Iso Omena in the greater Helsinki area

0 1990 1995 2000 2005 2010 2015 2020 7 OUR INVESTMENT PROPOSITION 1 STABLE BUSINESS MODEL ENABLING A HIGH DIVIDEND YIELD − Steady and resilient cash flows across the cycle − Solid financial position − High and sustainable dividend yield

WELL-BALANCED URBAN PROPERTY PORTFOLIO WITH TREMENDOUS 2 MIXED-USE POTENTIAL − Diversified Pan-Nordic portfolio bringing stability as well as scale − Actions in place to shift the current property portfolio more towards larger and higher quality urban assets − Significant opportunities to create further value through densification 3 FOCUSED STRATEGY IN A CHANGING MARKET ENVIRONMENT − Focus on larger multi-functional shopping centres in growing urban areas − Tenant mix with grocery-anchored and municipal tenants − Increased focus on asset management − Significant growth potential in specialty leasing business

8 STABLE OPERATING ENVIRONMENT NORDICS: A SAFE HAVEN IN AN UNSTABLE WORLD

KEY ECONOMIC INDICATORS IN OUR OPERATING COUNTRIES

Finland Norway Sweden Denmark Estonia

Credit ratings AA+ AAA AAA AAA AA- 5.5M GDP growth, 2019 1.4% 2.5% 1.1% 2.0% 3.2%

Unemployment, 2019 6.7% 3.4% 6.8% 4.9% 5.1% 5.3M 10M 1.3M Inflation, 2019 1.2% 1.4% 1.7% 0.8% 2.4%

Retail sales growth, 2019 0.9% 0.8% 2.4% 0.8% 4.0% 5.8M

10 Sources: SEB Nordic Outlook, Nordea Economic Outlook, European Commission, Eurostat, Population Statistics Finland/Norway/Sweden/Estonia/Denmark. Some figures are based on estimates. WE OPERATE IN THE FASTEST GROWING CITIES IN EUROPE WITH CONTINUED DEMAND FOR HOUSING

PERCENTAGE OF POPULATION IN URBAN AREAS POPULATION GROWTH 2015–2035 100% Sweden 93% 95% Denmark 92% 90% Norway 85% and Finland TAMPERE 12% 90% 80% HELSINKI Estonia 15% 77% 75% OSLO STOCKHOLM 29% 25% TALLINN 70% 10% GOTHEN- BURG 65% 22% 1980 2018 2030 2050 COPEN- Finland Norway Sweden Denmark Estonia HAGEN 16%

11 Source: UN World U rbanization Prospects 2018 THE NORDIC COUNTRIES HAVE A STRONG PURCHASING POWER

GDP PER CAPITA GDP OF NORDICS 67,900 EUR Estonia 1.7% Denmark Finland 21.2% 16.4% 50,000 47,100 40,500 Euro area average 34,500 Equivalent 1.4 to Canada EU average 29,900 approx. 19,800 EUR trillion Norway 25.7%

Sweden 35.1% Finland Norway Sweden Denmark Estonia

12 Source: IMF ONLINE RETAIL ACCOUNTS FOR AROUND 10% OF TOTAL RETAIL SALES IN THE NORDICS

ONLINE PENETRATION IN GROCERIES REMAINS VERY LOW ACROSS THE NORDICS % 15

11.8 12.0

9.9 10.2 10

7.3

5

2.0 1.9 1.1 1.4 0.4 0 Denmark Finland Norway Sweden The Nordics

Total Online Retail Sales Total Online Grocery Sales

13 Source: Ocado, Dansk Erhverv Analyse, Nielese and Svensk Digital Handel, Nordea PHYSICAL STORES REMAIN ESSENTIAL

CUSTOMER ➢ Nearby physical stores are important when making online EXPERIENCE purchases

PROFITABILITY ➢ Retailers lose business when they close a store

BRAND ➢ Physical stores generate brand awareness and trust AWARENESS

DIFFERENTATION ➢ Opening a store boosts online traffic

14 Source: ICSC WE HAVE A SOLID BUSINESS MODEL WHAT DOES OUR TYPICAL SHOPPING CENTRE LOOK LIKE?

− Located at the heart of communities with access to public transport − ~26,800 sq.m. of gross leasable area − ~4,000,000 annual visitors − Average fair value MEUR 118 − Average catchment area − ~480,000 people with above EU average purchasing power of EUR 26,200 within 20 minutes of driving − ~65% linked to rail transportation − ~90% located in capital or major cities CONNECTION TO PUBLIC TRANSPORTATION PROVIDES NATURAL FOOTFALL

100% OF OUR SHOPPING ➢ We are focused on grocery-anchored shopping centers that are CENTRES integrated with public transportation. ➢ All of our centres are accessible by bus, 10 centres are directly CONNECTED TO connected to metro lines, 17 to train lines and 6 to tram lines. PUBLIC TRANSPORTATION 54% OF VISITORS ARRIVE ➢ Almost 4,000 dedicated bicycle parking spaces. BY PUBLIC ➢ Almost 90% of our shopping centres have dedicated areas for secure bicycle parking. TRANSPORTATION, FOOT OR BICYCLE

ISO OMENA IS A GREAT ➢ Footfall increased +74 % to 20 million annual visitors after metro EXAMPLE OF opening. POWERFUL PUBLIC ➢ Tenant sales +17%, same-store sales +7%. TRANSPORTATION

17 MORE THAN RETAIL ONLY: SHARE OF NON-RETAIL REVENUE IS SIGNIFICANT WITH AN AIM TO INCREASE FURTHER

Groceries 17% Services and Offices 13% Cafés and Restaurants 10% Cosmetics and Pharmacies 7% GOOD REVENUE MIX: GRI Wellness 4% Leisure 1% HIGH IN DAILY Residentials and hotels 1% CONVENIENCE & Specialty stores 1% ENTERTAINMENT, 232 RELATIVELY LOW IN MEUR Home and Sporting Goods 19% FASHION & ACCESSORIES Fashion and Accessories 25%

As per 31 December 2019 18 1) Including Kista Galleria (50%) WE HAVE A DIVERSIFIED TENANT PORTFOLIO REDUCING CONCENTRATION RISK

TOP 5 TENANTS1) OCCUPANCY COST RATIO VS PEERS

PROPORTION OF 2019 Citycon 9.4% RENTAL INCOME, %

Kesko 5.0 Peer 1 10.5%

Varner-Group 4.1 Peer 2 12.2%

S Group 3.9 Peer 3 12.3% ICA Group 2.3 Peer 4 15.5% H&M 2.2

Top 5, total 17.5 Peer 4 18.2%

1) Including Kista Galleria (50%) Peer group: Hammersson, Klepierre, Mercialys, Unibail-Rodamco-Westfield, Wereldhave Source: Companies' annual reports 19 WE HAVE A STABLE AND HIGH OCCUPANCY RATE

− 4,404 lease agreements with an average length of 3.2 years − Clear majority of tenants pay fixed market rent. Only a small portion of tenants pay turnover-based rent 96.5% 96.8% 95.7% 96.0% 96.3% 96.0% 96.4% 95.5% − Majority of tenants pay service charge covering the running costs of the property, such as heating, electricity, water and marketing − Majority of rent agreements are tied to CPI indices

95.7% 96.1% 94.8% 95.5%

2012 2013 2014 2015 2016 2017 2018 Q3/2019 Finland & Estonia Norway Sweden & Total Denmark 20 1) Including Kista Galleria (50%) PUBLIC SECTOR TENANTS - A GROWING PART OF OUR BUSINESS

SWEDEN NORWAY FINLAND ESTONIA DENMARK TOTAL

CREDIT RATING* AAA AAA AA+ AA- AAA

MUNICIPAL/GOVERNMENTAL TENANTS

Leased GLA ~35,000 ~3,000 ~14,000 ~100 ~3,000 ~55,000 1% Share of total 11% 1% 4% 0% 6% ~4% GRI % ALCOHOL MONOPOLY (ALKO, SYSTEMBOLAGET, VINMONOPOLET) TENANTS 1% Total GLA4% 2 851 Leased GLA ~8,000 ~6,000 ~2,000 - - ~16,000 2% Share of total 2% 1% 1% - - ~1% GRI % 1% 11% SHARE OF TOTAL GLA%, MUNICIPAL AND ALCOHOL MONOPOLY TENANTS ~6%

*Source: S&P 6% Share of GRI (municipal tenants) 2 21 Share of GRI (alcohol monopolies) HIGH INDEXATION LEVEL ON RENTS INCREASES THE STABILITY OF OUR BUSINESS MODEL

SWEDEN NORWAY FINLAND ESTONIA DENMARK

Leases indexed based 85% 80% 95% 95% 90% on rental income

Average indexation based on rental 2.2% 3.4% 2.1% 3.3% 1.6% income 95% Total GLA 2 851

80% 85%

95%

90% 2 22 Leases indexed (%) OUR SUSTAINABILITY STRATEGY CARBON NEUTRAL ACCESSIBLE CONVENIENT AND SAFE − Citycon is carbon neutral by 2030 − 100% of assets are connected to − Tenant satisfaction stays consistently public transportation, encouraging above 90% in areas of safety, security, green ways to visit our centres hospitality and service-mindedness.

Citycon puts best sustainability practices into effect by following a clear roadmap and monitoring success EXCELLENCE IN ACTION

23 WE HAVE MADE GOOD PROGRESS IN SUSTAINABILITY MATTERS

- 47 % - 4 % - 49 % GREENHOUSE GAS ENERGY INTENSITY FROM CLIMATE CHANGE IMPACT INTENSITY FROM BASELINE BASELINE 2014 FROM BASELINE 2014 2014 (KGCO2E/SQ.M.) (KWH/SQ.M.) (TCO2E)

100 % 84 % SHARE OF RENEWABLE OF PORTFOLIO (MEASURED ELECTRICITY USED FOR OWN BY GLA) BREEAM IN-USE CONSUMPTION SERTIFIED URBAN SHOPPING CENTERS ARE NATURAL PLATFORMS FOR SURROUNDING COMMUNITIES – 867 LOCAL EVENTS IN 2019

Partnerships with NGO´s For the community and The coolest library as a environment community meeting point Long-term cooperation with Finnish NGO Nuorten palvelu (=Youth Service) to Underground farming unit provides jobs for A new library in Stovner Senter with a enhance the well-being of youngsters long-term unemployed people. It’s placed in unique interior design and atmosphere. It that spend time in our centers. NGO has the former storage area at the basement of has established its position as the heart of e.g. trained security guards that are Högdalen Centrum. the surrounding community. specialized in helping youngsters.

25 MAXIMIZING VALUE

26 A DRAMATICALLY DIFFERENT PORTFOLIO

2011 2020 OUR PERFORMANCE INDICATORS ARE SHOWING THE POSITIVE EFFECT30 OF # OF SHOPPING CENTRES OUR TRANSFORMATION 78 41 AND DISPOSITION STRATEGY.

WE WILL CONTINUE OUR REPOSITIONING STRATEGY ALTHOUGH THE MAJORITY 32 AVERAGE SIZE, MEUR OF DISPOSALS HAVE 118 ALREADY BEEN DONE.

27 THE SEVEN LARGEST ASSETS ACCOUNT FOR ~50% OF THE PORTFOLIO

ISO OMENA, LILJEHOLMSTORGET KISTA GALLERIA, OASEN, ROCCA AL MARE, HERKULES MYYRMANNI HELSINKI AREA GALLERIA, STOCKHOLM STOCKHOLM BERGEN TALLINN SKIEN HELSINKI AREA

GLA, sq.m. 100,900 41,100 92,500 57,000 57,600 49,300 40,400

Visitors, million 19.9 9.8 18.0 4.2 4.5 3.5 8.6

Fair value, MEUR 757 314 275 208 181 175 174

28 WE FOCUS ON MULTI-FUNCTIONAL SHOPPING CENTRES IN GROWING URBAN AREAS

KEY CRITERIA FOR A CITYCON ASSET WE HAVE DISPOSED ASSETS FOR OVER 700 MEUR SINCE 2015 TEUR − Urban locations in capital or major cities 350 − Strong population growth and natural footfall to the asset 300 − Connected to public transportation − More than retail only: health care and 250 municipal services 200 − Necessity-based and dominant in the asset’s catchment area 150 − Value creation potential in the future − Size > ~20,000 sq.m. 100

50

0 2015 2016 2017 2018 2019 29 OUR FLAGSHIP ASSET ISO OMENA IS A GREAT EXAMPLE OF OUR FUTURE ASSET QUALITY

RENTAL INCOME BY CATEGORY FOR ISO OMENA PUBLIC SERVICE SQUARE

Groceries 23% Fashion and Accessories 19% Services and Offices 18% Home and Sporting Goods 13% Cafes and Restaurants 12% Cosmetics and Pharmacies 6% Leisure 4% Wellness 3% Specialty Stores 2%

1,500,000 ANNUAL VISITORS

30 IT IS ALSO A GREAT EXAMPLE OF OUR DEVELOPMENT CAPABILITIES

31 WE HAVE SIGNIFICANT OPPORTUNITIES TO CREATE FURTHER VALUE THROUGH DENSIFICATION

CURRENT RESIDENTIAL EXPOSURE

SWEDEN NORWAY FINLAND ESTONIA DENMARK TOTAL

Total GLA ~18,500 ~400 ~1,100 0 0 ~20,000

Number of Units 539 3 28 0 0 570

POTENTIAL RESIDENTIAL EXPOSURE 120,000 sq.m. SWEDEN NORWAY FINLAND ESTONIA DENMARK TOTAL Total GLA 2 851 Potential Gross Building Area ~115,000 ~55,000 ~120,000 ~10,000 ~20,000 ~320,000 (approx.) 55,000 Number of potential 115,000 Units if developed as ~1,560 ~500 ~2,000 ~150 ~300 ~4,500 sq.m. sq.m. apartments* 10,000 sq.m.

POTENTIAL GBA CAN EITHER BE DEVELOPED AS RESIDENTIAL OR OFFICES DEPENDING ON DEMAND AND MARKET SITUATION 20,000 sq.m. 2 32 Potential GBA CASE: LILJEHOLMSTORGET GALLERIA IN STOCKHOLM HAS SIGNIFICANT DENSIFICATION POTENTIAL

LILJEHOLMSTORGET TODAY LILJEHOLMSTORGET AFTER DENSIFICATION ▪ 10 minutes from central Stockholm in a growing ▪ Mixed-use urban development neighbourhood project for office, hotel, F&B with complementary residential and retail ▪ 9.8 million visitors annually ▪ Planned extension over rail tracks to ▪ Integrated to public increase size transportation ▪ Up to 170 apartments ▪ Significant service and health care offering ▪ Zoning estimated to be approved in 2021 OUR DEVELOPMENT PROJECT IN LIPPULAIVA IS PROGRESSING

▪ Lippulaiva will become a strong convenience and service-based shopping centre in the growing neighbourhood of Espoonlahti in Status update greater Helsinki Q4/2019: ▪ Lippulaiva will be integrated to -Skanska chosen as the new Western Metro and the main contractor complemented by a bus terminal for the shopping ▪ The new Lippulaiva will host centre part around 80 different shops, cafés, -value of the restaurants and services in contract with addition to municipal and healthcare facilities. Skanska amounts to 170 EUR LIPPULAIVA IS A GREAT EXAMPLE OF A MIXED-USE DEVELOPMENT

LIPPULAIVA ▪ Up to 8 residential buildings with around 500 apartments (~31,000 sqm of building rights). ▪ Currently we are reviewing different options on how to develop the residential component ▪ Shopping centre to be opened in spring 2022, residential buildings ready 2022-2024, estimated metro opening 2023 SIGNIFICANT POTENTIAL IN OUR DEVELOPMENT PIPELINE

KISTA GALLERIA LILJEHOLMSTORGET Stockholm, Sweden Stockholm, Sweden

TREKANTEN OASEN Asker, Norway36 Bergen, Norway KEY FINANCIALS WE HAVE THREE LONG-TERM FINANCIAL TARGETS

FINANCIAL TARGET Q4/2019 STRATEGIC ACTIONS 2020 ONWARDS

Like-for-like net rental income 0.5%1) − Investments in development projects (174 BPS BELOW CPI) − Redevelopment of core assets and disposals of non-core assets growth of 100 bps above CPI - − Proactive leasing activity

Loan to value (LTV) of 40–45% 42.4% − A strong balance sheet and maintaining the loan-to-value ratio ✓ below 45% remains a key priority for the company

Dividend/equity return − Maintain solid operative performance to ensure sustainable payout ratio* of > 50% of 81%2) cash flow generation the result for the period ✓ − Continued focus on cost management

38 *excluding fair value changes on property 1) Including Kista Galleria 50% 2) Calculated from EPRA Earnings per share WE HAVE STEADY CASH AND EARNINGS GENERATION

EPRA EPS NET CASH FROM OPERATING ACTIVITIES PER SHARE EUR

0.83 0.77 0.76 0.96 0.74 0.87 0.84 0.86 0.81 0.82 0.60 0.54

2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019

39 WE HAVE A STRONG AND SUSTAINABLE DIVIDEND

DIVIDEND/EQUITY REPAYMENT AND YIELD DIVIDEND/EPRA EPS

87% 0.75 0.75 81% 79% 77% 76% 0.65 0.65 0.65 0.65

6.8% 7.0% 6.8% 6.3% 5.8% 5.6% Target payout ratio >50%

2014 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019

40 MAIN FINANCING TARGETS – Debt portfolio's hedge ratio 70-90% ✓ 88.8% – Investment-grade credit ratings ✓ BBB-/Baa3 – Financing mainly unsecured ✓ 94.5% – Substantial liquidity buffer ✓ MEUR 562 – Loan to Value 40-45% ✓ 42.4% – Average maturity of loan portfolio > 5 yrs - 4.6

Stable business model matched by conservative financing targets

41 WE HAVE STRENGTHENED OUR BALANCE SHEET

LOAN TO VALUE (LTV) INTEREST COVER RATIO 54.5% 4.2x 49.3% 48.7% 3.8x 3.8x 3.8x 3.8x 45.7% 46.6% 46.7% 42.4% 38.6% 3.1x 2.4x 2.1x

2012 2013 2014 2015 2016 2017 2018 2019 2012 2013 2014 2015 2016 2017 2018 2019

WEIGHTED AVERAGE INTEREST RATE AVERAGE LOAN MATURITY YEARS 4.25% 5.9 4.12% 5.5 5.6 5.1 5.0 3.28% 4.6 3.04% 2.86% 2.78% 4.1 2.35% 2.29% 3.2

2012 2013 2014 2015 2016 2017 2018 2019 2012 2013 2014 2015 2016 2017 2018 2019 42 95% OF DEBT FIXED RATE WITH BALANCED MATURITY PROFILE

DEBT BREAKDOWN BY TYPE DEBT MATURITIES Bank loans CP 6% 7%

1,830.7 EUR million Bonds 87%

DEBT BREAKDOWN BY CURRENCY SEK 21% EUR 59% 1,830.7 EUR million NOK 20% Part of EUR debt has been converted to SEK and NOK using cross- 43 currency swaps MAJORITY OF FINANCING THROUGH CAPITAL MARKETS

MEUR

Baa3

BBB- 2011 2012 2013 2014 2015 2016 2017 2018 2019 Bonds Bank loans CP Other

44 CITYCON KEY FIGURES TABLE 2013-2018

MEUR 2019 2018 2017 2016 2015 2014

Gross rental income 232.1 237.0 257.4 251.4 223.9 189.4

Net rental income 217.4 214.9 228.5 224.9 199.6 169.4

Direct operating profit 193.5 187.6 200.5 198.5 175.4 149.8

EPRA Earnings 145.6 143.5 152.3 151.1 130.8 99.7

Loan to Value (LTV) 42.4 48.7 46.7 46.6 45.7 38.6

SHARE BASED KEY FIGURES

EPRA EPS, basic 0.82 0.81 0.86 0.85 0.87 0.956 Adjusted EPRA EPS 0.81 0.81 0.86 0.85 0.87 0.956 EPRA NAV, per share 12.28 12.95 13.57 14.11 13.68 15.06

45 OUTLOOK F0R 2020

DIRECT OPERATING PROFIT EPRA EARNINGS ADJUSTED EPPRA EPS

191-209 0.815-0.915 0.849 0.856 198.5 200.5 193.5 0.849 0.856 0.806 0.818 0.720-0.820 187.6 0.806 0.818

2016 2017 2018 2019 2020E 2016 2017 2018 2019 2020E 2016 2017 2018 2019 2020E

46 WHERE TO FIND MORE INFORMATION?

Valtteri Piri Legal and IR Specialist Tel. +358 50 570 1022 [email protected] Result Annual Report, presentation Sustainability Report and Financial Statements

Capital Markets Day Interim Report presentations

More information can be found on Citycon’s website at www.citycon.com/investors

47 ANALYST COVERAGE ABG Sundal Collier Tobias Kaj +46 8 566 286 21

ABN Amro Niko Levikari +31 6 2260 6678 Erik Granström +46 8 5886 8594 Carnegie Investment Bank AB, Finland Branch Fredric Cyon +46 8 5886 8838 Markets Ari Järvinen +358 10 236 4760 DnB NOR Simen Mortensen +47 2416 9209

Goldman Sachs International Jonathan Kownator +44 20 7051 2974 Green Street Advisors Rob Virdee +44 20 0379 6978 Handelsbanken David Flemmich + 46 8 701 1354 Inderes Oy, Inders Equity Research Jesse Kinnunen +358 50 373 8027 J.P. Morgan Neil Green +44 20 7134 4478

Kepler Cheuvreux Jan Ihrfelt + 46 8 723 51 14 Kempen & Co Robert Woerdeman +31 20 348 8458

Nordea Bank Plc Svante Krokfors +358 9 5300 5337

OP Corporate Bank Plc Matias Rautionmaa +358 10 252 4408 SEB Enskilda Equities Anssi Kiviniemi +358 9 616 28516

48 citycon.com

THANK YOU. 4.7.2018

APPENDX FINLAND & ESTONIA

KEY FIGURES Fair value of properties 1,846.8 MEUR Gross Leasable Area 404,290 sq.m. Retail GLA 338,800 sq.m. Economic occupancy rate 95.7% Average yield requirement 5.3% Average rent 25.8 EUR / sq.m.

RENTAL INCOME BY CATEGORY Groceries Fashion and Accessories Services and Offices Home and Sporting Goods Cafés and Restaurants Cosmetics and Pharmacies Wellness Department Stores Leisure Specialty stores 51 Residentials and hotels NORWAY

KEY FIGURES Fair value of properties 1,332.9 MEUR Gross Leasable Area 401,500 sq.m. Retail GLA 336,000 sq.m. Economic occupancy rate 96.1% Average yield requirement 5.5% Average market rent 21.8 EUR / sq.m.

RENTAL INCOME BY CATEGORY Home and Sporting Goods Fashion and Accessories Services and Offices Groceries Cosmetics and Pharmacies Cafés and Restaurants Wellness Specialty stores Leisure Residentials and hotels

52 Department Stores SWEDEN & DENMARK

KEY FIGURES Fair value of properties 929.5 MEUR Gross Leasable Area 315,950 sq.m. Retail GLA 218,200 sq.m. Economic occupancy rate 94.8% Average yield requirement 5.3% Average rent 22.1 EUR / sq.m.

RENTAL INCOME BY CATEGORY Fashion and Accessories Services and Offices Groceries Cafés and Restaurants Home and Sporting Goods Cosmetics and Pharmacies Wellness Residentials and hotels Specialty stores Leisure 53 Department Stores