Make Whole Redemption Announcement

THE ANNOUNCEMENT REPRODUCED BELOW CONTAINS INFORMATION THAT QUALIFIED AND WAS ALREADY PUBLISHED THROUGH THE REQUIRED CHANNELS AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014, AS AMENDED. THIS ANNOUNCEMENT REPRESENTS VOLUNTARY PUBLICATION OF THE SAME INFORMATION VIA EQS.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE “UNITED STATES”) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

8 July 2026

NOTICE OF MAKE-WHOLE REDEMPTION

CPI Property Group (the "Issuer")

To the holders of the EUR 750,000,000 2.875 per cent. Senior Notes due 23 April 2027 (ISIN XS2069407786; Common Code 206940778) (nominal amount outstanding: EUR 132,821,000) (the "Notes")[1]

issued under

the Issuer's Euro Medium Term Note Programme (the "Programme")

Reference is made to the terms and conditions of the Notes (the "Conditions") set out in Schedule 1 – Part 1 of the amended and restated trust deed dated 30 May 2019 (as supplemented by a supplemental trust deed dated 15 January 2021, the "Trust Deed") constituting the Notes. Capitalised terms used in this notice (the "Notice") and not otherwise defined herein shall have the meanings set out in the Conditions and the Trust Deed.

Pursuant to Condition 7.3 (Redemption at the option of the Issuer (Issuer Call)) of the Notes, the Issuer hereby gives notice to the Noteholders that it will redeem all of the Notes at the Optional Redemption Amount on 24 July 2026 (the "Optional Redemption Date").

The Optional Redemption Amount will be the higher of (i) 100 per cent. of the nominal amount outstanding of the Notes to be redeemed and (ii) the sum of the present values of the nominal amount outstanding of the Notes to be redeemed and the Remaining Term Interest on such Notes (exclusive of interest accrued to the date of redemption), to be determined, in accordance with Condition 7.3 of the Notes, by the Determination Agent on 21 July 2026 (the "Reference Date"). Upon such determination, the Issuer will publish a further notice specifying the Optional Redemption Amount on or about the Reference Date.

This announcement has been issued on Euronext Dublin and delivered to the clearing systems, Euroclear and Clearstream Luxembourg, for onward communication to accountholders in accordance with Condition 14 (Notices) of the Notes.

Noteholders may direct any questions to the Issuer at:

David Greenbaum
Chief Executive Officer
d.greenbaum@cpipg.com

CPI PROPERTY GROUP
40, rue de la Vallée
L-2661, Luxembourg

This announcement is released by CPI Property Group and contains information that qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (“MAR”), encompassing information relating to the Offers described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by David Greenbaum, Chief Executive Officer at CPI Property Group.

^[1] The Rate of Interest on the Notes is 2.875 per cent. per annum, which includes a Step Up Margin of 1.250 per cent. per annum following the occurrence of a Step Up Rating Change (each as defined in the Conditions).