URW Proposes Streamlining of Legal Structure

On February 12, 2026, URW announced a proposed internal reorganization to simplify its legal structure and reduce administrative costs. This involves dismantling the existing stapled shares setup established post-2018's Westfield acquisition. The reorganization calls for the merger of URW NV into its subsidiary HoldCo, resulting in URW NV class A shares ceasing to exist. Consequently, shareholders will hold only URW SE ordinary shares.

This streamlining intends no impact on URW's economic structure, strategy, or shareholder economic interests. Trading practices will remain unchanged, ensuring no disruption in terms of liquidity or settlement on Euronext Paris. Additionally, URW plans to vote on these changes at the 2026 annual general meetings of URW SE and URW NV. The reorganization is expected to leave financial indicators and business strategies intact, maintaining commitments to the 2025-28 business plan 'A Platform for Growth.'