CPI Property Group – Kingstown Litigation Dismissed

CPI Property Group
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg : B 102 254

Press Release – Corporate News

Luxembourg, 20 October 2026

CPI Property Group – Kingstown Litigation Dismissed

CPI PROPERTY GROUP refers our stakeholders to the press release “Kingstown Litigation Dismissed,” published on 20 October 2026 by CPIPG's subsidiary CPI FIM SA.  The press release is republished below in its entirety.

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CPI FIM SA (“CPI FIM” or the “Company”) is pleased to update our stakeholders regarding the lawsuit filed in January 2015 in the Luxembourg District Court (the “Court”) by Kingstown Partners Master Ltd., Kingstown Partners II, LP and Ktown LP (together, the “Kingstown Plaintiffs”).

The lawsuit concerned claims against CPI FIM and certain current and former members of its board of directors. CPI Property Group SA (“CPIPG”), the parent company of CPI FIM, was dismissed from the proceedings in June 2019. The Kingstown Plaintiffs had most recently sought damages of approximately EUR 238 million, compared with EUR 19.5 million in their original claim.

On 16 October 2026, the Court declared all claims brought by the Kingstown Plaintiffs inadmissible, dismissing the case in its entirety.

“This lawsuit has been a topic of discussion with our stakeholders for more than a decade,” said David Greenbaum, CEO of CPIPG and Managing Director of CPI FIM. “We always said that Kingstown had no case, and the Court’s decision proves we were right.”

In its judgment, the Court found that the Kingstown Plaintiffs had not established a personal loss for shares sold in 2014, or a direct link between the alleged wrongdoing and their claimed damages. The Court also rejected the later damages claims as inadmissible and found that, having sold their shares, the Kingstown Plaintiffs lacked the necessary interest to challenge the Company's past corporate decisions.

The Court ordered the Kingstown Plaintiffs to pay the costs of the proceedings, together with procedural indemnities of EUR 10,000 each to CPI FIM and four individual defendants. The judgment is subject to appeal.

“CPIPG welcomes this clear decision by the Court,” said Martin Matula, General Counsel of CPIPG. “We will continue to vigorously defend the interests of our Group against baseless lawsuits and are confident that this judgment will withstand any appeal.”

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For further information, please contact:

Investor Relations

Moritz Mayer
Senior Manager, Capital Markets
m.mayer@cpipg.com

For more on CPI Property Group, visit our website: www.cpipg.com
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CPIPG is the issuer of:
(i) shares ISIN LU0251710041 admitted to trading on the regulated market of the Frankfurt Stock Exchange;
(ii) the following notes admitted to trading on the regulated market of Euronext Dublin:

• JPY 3,000,000,000 1.995 per cent. Senior Notes due 8 December 2028, XS1917855337
• GBP 400,000,000 2.750 per cent. Senior Notes due 22 January 2028, XS2106589471
• HKD 250,000,000 3.014 per cent. Senior Notes due 13 February 2030, XS2117757182
• EUR 850,000,000 1.500 per cent. Senior Notes due 27 January 2031 XS2290544068
• EUR 700,000,000 1.750 per cent. Sustainability-Linked Senior Notes due 14 January 2030, XS2432162654
• EUR 600,000,000 7.000 per cent. Senior Unsecured Green Notes due 7 May 2029, XS2815976126
• EUR 750,000,000 6.000 per cent. Senior Unsecured Green Notes due 27 January 2032, XS2904791774
• EUR550,000,000 4.875 per cent, Fixed Rate Resettable Undated Subordinated Notes, XS1982704824
• SGD150,000,000 5.800 per cent. Fixed Rate Resettable Undated Subordinated Notes, XS2106857746
• EUR 525,000,000 4.875 per cent. Fixed Rate Resettable Undated Subordinated Notes, XS2231191748
• EUR 475,000,000 3.750 per cent. Fixed Rate Resettable Undated Subordinated Notes, XS2290533020
• EUR 800,000,000 7.500 per cent. Fixed Rate Resettable Undated Subordinated Notes, XS3099834676
• EUR 700,000,000 4.750 per cent. Senior Unsecured Green Notes due 22 July 2030, XS3126635039
• GBP 300,000,000 8.875 per cent. Fixed Rate Resettable Undated Subordinated Notes, XS3199090104
• GBP 400,000,000 6.875 per cent. Senior Unsecured Green Notes due 5 February 2033, XS3285555143
• EUR 550,000,000 8.500 per cent. Fixed Rate Resettable Undated Subordinated Notes, XS3412577515
• EUR 550,000,000 5.875 per cent. Senior Unsecured European Green Bonds due 7 July 2032, XS3430768781

(iii) the following notes admitted to trading and listed on the SIX Swiss Exchange:

• CHF 105,000,000 3.950 per cent. Senior Unsecured Notes due 26 May 2031, CH1533656182

Disclaimer: This communication contains certain forward-looking statements with respect to the financial condition, results of operations and business of CPIPG. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “plans”, “projects”, “anticipates”, “expects”, “intends”, “targets”, “may”, “aims”, “likely”, “would”, “could”, “can have”, “will” or “should” or, in each case, their negative or other variations or comparable terminology. Forward-looking statements may and often do differ materially from actual results. CPIPG’s business is subject to a number of risks and uncertainties that could also cause a forward-looking statement, estimate or prediction to differ materially from those expressed or implied by the forward-looking statements contained in this communication. The information, opinions and forward-looking statements contained in this communication speak only as at its date and are subject to change without notice. As a result, undue influence should not be placed on any forward-looking statement.