GLOBE TRADE CENTRE S.A.

GLOBE TRADE CENTRE S.A. Organogram

Globe Trade Centre S.A. and its subsidiaries operate as a property holding group which is also involved in the holding and management of investment properties. This includes the sale of development properties as well as the rental of office and retail space. The portfolio consists of completed commercial properties, commercial properties under construction, a commercial landbank intended for future development and residential project and landbank. Operations are largely centred in Poland and capital cities in Eastern and Southern Europe, namely, Belgrade, Budapest, Bucharest, Bulgaria, Zagreb and Sofia. \r\n\r\nAs of 31 December 2024, the book value of the Group’s total property portfolio including non-current financial assets (related to investment property) was EUR3,018.9m. The book value of the Group’s property portfolio was EUR€2,864.0m and included: \r\n• 45 completed commercial buildings, including 39 office buildings and 6 retail properties with a total combined commercial space of approximately 745 thousand sqm of GLA, an occupancy rate at 86% and a book value of EUR1,987.9m (including 1 office held for sale in the amount of EUR52.2m). \r\n• 5,169 flats with a total combined residential space of approximately 325 thousand sqm, an occupancy rate at 83% and a book value of EUR452.1m.\r\n• Five projects under construction with a total GLA of approximately 66 thousand sqm and a book value of EUR141.6m.\r\n• Investment landbank intended for future development (including 2 land plots in Poland held for sale in the value of EUR61.8m) with the book value of EUR173.2m.\r\n• Right of use of land under perpetual usufruct, including assets held for sale with value of EUR74.4m (including EUR1.0 from residential landbank and EUR39.6 from assets held for sale)\r\n\r\nAdditionally, GTC holds non-current financial assets in the amount of EUR154.7m mainly including: \r\n• 25% of notes issued to finance Kildare Innovation Campus (technology campus) project, which currently comprises nine completed buildings with the total GLA of approximately 102,000 sqm (the project extends over 72 ha of which 34 ha are undeveloped). Fair value of these notes as 31 December 2024 amounted to EUR119.1, which accounts for 5% of the Group\'s total property portfolio including non-current financial assets. \r\n• 34% of units in Regional Multi Asset Fund Compartment 2 of Trigal Alternative Investment Fund GP S.á.r.l., which holds 4 completed commercial buildings including 3 office buildings and 1 retail property with a total combined commercial space of approximately 41,000 sqm of GLA. Fair value of these units amounted to EUR16.5m. \r\n• 15% shares in the Hungarian public company - NAP Nyrt a producer of solar panel energy with a total capacity of 57.6 MW (AC). The fair value of these shares amounted to EUR4.4m.\r\n• Other non-current financial assets amounted to EUR13.4m, including Grid Parity Bond, MBH bank Bonds (ISIN HU0000362207) and ACP Fund.\r\n\r\nProjects under construction:\r\nAs of 31 December 2024, the Group had four office projects (Center Point 3, Rose Hill Campus, Andrassy and Matrix D) with a total gross rentable area of 60,900 sq m and a book value of EUR127.4m\r\n\r\nInvestment Property Landbank\r\nThe Group the value of land plots classified as \"Investment property landbank” and designated for future commercial development amounted to EUR158.5m and the land banks held for sale amounted to EUR13.6m. The majority of the landbank is located in Warsaw, Belgarde and Budapest. \r\n\r\nRight of use - Investment property\r\nAs of 31 December 2024, the Group’s right of use of lands under perpetual usufruct amounted to EUR73.4m. The rights of use of lands under perpetual usufruct comprised the right of use of investment property landbank in the value of EUR33.8 and of property landbank held for sale in the value of EUR39.6m.\r\n\r\nResidential Landbank\r\nAs of 31 December 2024, the Group held a residential landbank (including the right of use of residential landbank of EUR1.0m with a total value of EUR35.8m.