Malmö Designer Village – Topping Out Ceremony; From left to right: Antoine Frey, Chairman and CEO of FREY; Emil Norén, Senior Site Manager at Veidekke; Jenny Olsson, Marketing Manager of Øresundsbron and Annesofie Thuresson, Chair of the Municipal Executive Committee of Kävlinge

FREY's flagship outlet village development in Southern Sweden has reached structural completion, marked by a Topping Out Ceremony on 6 May 2026. Phase 1 – comprising 18,000 sqm GLA and approximately 90 stores – opens May 2027, with a second phase bringing the full development to 26,000 sqm and 130+ brands. Malmö Designer Village is on course to become the defining premium outlet destination in Scandinavia, serving a catchment of 3.8 million residents and over 10 million tourists annually.

A MILESTONE MOMENT

On 6 May 2026, Malmö Designer Village marked the Topping Out of its main structure – a defining moment in the journey from vision to destination. The ceremony, held on site in Löddeköpinge, brought together FREY leadership, construction partners, municipal representatives, brand partners and key regional stakeholders to mark structural completion and reaffirm the Spring 2027 Phase 1 opening commitment.

The event was opened by Antoine Frey, Chairman and CEO of FREY, who addressed the project's strategic significance within the Group's European expansion strategy and its ambition to redefine premium outlet retail in Scandinavia. Municipal and regional perspectives were provided by Annesofie Thuresson, Chair of the Municipal Executive Committee of Kävlinge, and Jenny Olsson, Marketing Manager of Øresundsbron – representing a broad coalition of institutional support spanning local government through to the state-owned cross-border infrastructure consortium.

The ceremony concluded with the placing of a time capsule in the main plaza – a symbolic act reflecting the long-term horizon of the project and its commitment to the community it will serve.

“Malmö Designer Village is a project we have believed in deeply since its inception. Reaching Topping Out today is confirmation that what began as a conviction about an underserved market is becoming a physical reality. We are building something Scandinavia does not yet have, a premium destination designed as a unique and exceptional setting where brands can fully express their identity, their positioning, and their standards. And we are building it to last, as a long-term platform for brands, for the region, and for future growth.”

-Antoine Frey, Chairman and CEO, FREY

“This is a landmark development for Kävlinge. Malmö Designer Village brings lasting value to our community and demonstrates what public-private partnership can achieve when ambition and shared vision align. We are proud that this destination is taking shape here in our municipality — and we look forward to welcoming visitors from across Scandinavia and beyond.”

-Annesofie Thuresson, Chair of the Municipal Executive Committee, Kävlinge Municipality

Malmö Designer Village – A FREY Destination, Opening May 2027

PHASE 1 OPENING SPRING 2027 — FULL VISION AT 26,000 SQM

Malmö Designer Village will open in two phases. Phase 1, opening Spring 2027, will comprise approximately 18,000 sqm GLA and around 90 stores – delivering a fully operational, curated premium outlet experience from day one. A second phase will add a further 8,000 sqm, bringing the full development to 26,000 sqm GLA and more than 130 international and Scandinavian brands upon completion.

The destination is designed in the European village tradition and inspired by Scandinavian architecture: open-air retail streets, landscaped gardens, and a human-scale environment built for extended dwell time. Complementary amenities include a curated food hall alongside children's facilities and 2,000 parking spaces.

Sustainability is foundational to the development model. The project targets BREEAM 'Excellent' certification and integrates geothermal energy, solar power, sustainable construction materials and low-carbon visitor mobility infrastructure. FREY holds B Corp

certification – one of only a handful of listed European real estate companies to do so — and the MDV development applies the Group's Greencenter framework across the full project lifecycle. An ambitious landscaping plan includes the planting of approximately 300 trees throughout the site, boosting biodiversity and enhancing the open-air experience for visitors.

STRATEGIC CONTEXT: AN UNDERSERVED MARKET OF SCALE

Scandinavia remains one of Europe's most structurally underserved outlet markets. The Greater Copenhagen region – encompassing Copenhagen, Malmö and the wider Øresund catchment – draws over 10 million international and domestic tourists annually, generating 26 million overnight stays per year, of which 59% are from international visitors. GDP per capita across the region consistently ranks among Europe's highest.

Until Malmö Designer Village, this catchment had no premium outlet destination of scale within 90 minutes of the city. European outlet retail has delivered consistent sales growth averaging 4 - 6% annually since 2019, with investment volumes exceeding €1 billion in 2024.

FREY – following its acquisitions of ROS Retail Outlet Shopping (2024) and Designer Outlet Berlin and three Italian Premium Outlet Villages (2025) – now ranks as one of Europe's top five outlet operators. The Group is investor, developer and operator of more than 40 destinations across 10 European countries. Malmö Designer Village is the Group's flagship greenfield development and the first new-build premium outlet village to be constructed in Scandinavia. The project is expected to create approximately 1,200 direct and indirect jobs in the region.

CONNECTIVITY: THE INFRASTRUCTURE ADVANTAGE

The site's locational logic is one of its most compelling structural assets. Located directly off the E6 motorway – Sweden's primary north-south arterial road connecting Malmö to Gothenburg and extending into Norway – Malmö Designer Village is a 20-minute drive from Malmö city centre, 50 minutes from central Copenhagen via the Øresund Bridge, and 40 minutes from Copenhagen Airport. The Löddeköpinge retail hub in which it sits already attracts 4.1 million visitors annually, confirming proven consumer demand at the location.

Looking to the medium term, the Fehmarnbelt Tunnel – currently under construction and targeted for opening between 2029 and 2031 – will reduce Hamburg-to-Copenhagen rail travel times to approximately 2.5 hours, materially extending MDV's effective German catchment and placing the development on a direct high-speed corridor between Scandinavia and Northern Germany.

“The Øresund Bridge connects two countries, two labour markets and everyday life on both sides of the strait. It has always been more than infrastructure. As Malmö Designer Village prepares to open, it reflects something we already see across the region: people travel between Sweden and Denmark in both directions — for work, culture, family and leisure. New destinations like this become part of that wider exchange and contribute to the continued attractiveness and vitality of the Øresund region.”

-Linus Eriksson, CEO, Øresundsbron

Malmö Designer Village – A FREY Destination, Topping Out Ceremony, 6th May 2026

BRAND PARTNERS AND THE COMMERCIAL PROPOSITION

Following the Topping Out Ceremony, an exclusive brand partner session explored the project's commercial proposition and the structural growth opportunity of the Scandinavian outlet market. A panel discussion and Q&A concluded the session, generating wide-ranging debate across market and brand topics. Participating brands were NN.07, Sunglass Hut and DK Company. Together, they form the foundation of a curated brand mix targeted at establishing Malmö Designer Village as the benchmark outlet destination in Scandinavia.