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Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014

Grand City Properties S.A. resolves on share buy-back program with a volume of up to 200 million euro

Luxembourg, 15 March 2021 - The Board of Directors of Grand City Properties S.A. (the "Company") has resolved today on a share buy-back program. The buy-back program will be implemented by buying back shares on the stock exchange by the Company or a subsidiary of the Company. The volume of the proposed buy-back program will amount to up to 200 million euros and will be limited to a maximum of 10 million shares in the Company. The program shall start on 16 March 2021 and shall be finalized by 31 December 2021 at latest. The acquired shares in the Company may be used in accordance with the authorisation resolved by the Annual General Meeting of the Company held on 24 June 2020.

Contact:
Grand City Properties S.A.
1, Avenue du Bois
L-1251 Luxemburg
T: +352 28 77 87 86
E: [email protected]
www.grandcityproperties.com

Press Contact:
Katrin Petersen
Grand City Properties S.A.
T: +49 (30) 374-381 5218
E: [email protected]

Disclaimer
This release may not be published, distributed or transmitted in the United States, Canada, Australia or Japan. This release is not directed to or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.

Neither this release nor its content may be published, dispatched, distributed or disseminated to or within the United States of America, and in each case neither by means of utilization of any postal service nor by any other means or instruments of business communication between single states or foreign trade or any facilities of a national stock exchange of the United States of America. This includes, among others, submission by fax, electronic post, telex, telephone and the internet. Copies of this release or any other documents related to this release may also not be distributed or submitted to or within the United States of America.

This announcement is for informational purposes only and constitutes neither an invitation to sell, nor an offer to purchase, securities. The final terms and further provisions regarding the public tender offer will be disclosed in the offer document. Investors and holders of securities of the Company are strongly recommended to read the offer document and all announcements in connection with the public tender offer as soon as they are published, since they will contain important information.

To the extent any announcements in this document contain forward-looking statements, such statements do not represent facts and are characterized by the words "will", expect", "believe", "estimate", "intend", "aim", "assume" or similar expressions. Such statements express the intentions, opinions or current expectations and assumptions of the Company. Such forward-looking statements are based on current plans, estimates and forecasts, which the Company has made to the best of its knowledge, but which it does not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by the Company. These expectations and forward-looking statements can turn out to be incorrect and the actual events or consequences may differ materially from those contained in or expressed by such forward-looking statements. The Company does not assume an obligation to update the forward-looking statements with respect to the actual development of incidents, basic conditions, assumptions or other factors.