Paramount Group, Inc. Merger Completion

Paramount Group, Inc. (the "Company") announced the completion of its merger with Rithm Capital Corp. on December 19, 2025. The merger involved the combination of Paramount Group Operating Partnership LP with Panorama Operating Merger Sub LP, and the Company with Panorama REIT Merger Sub, Inc. As a result of these mergers, the Company has ceased to exist as a separate corporate entity and is now indirectly controlled by Rithm Capital Corp. The common stock of Paramount Group, Inc. has been delisted from the New York Stock Exchange. Holders of Operating Partnership Common Units and Company common stock received $6.60 in cash per unit/share. Company compensatory awards, including stock options and restricted stock, were cancelled or converted into cash payments. Similarly, Operating Partnership LTIP Units and AOLTIP Units were vested and converted into cash or operating partnership units as per the merger agreement. The transaction resulted in a change of control for Paramount Group, Inc., with new officers and directors appointed to the surviving entity.