Investor relations

Subject: Conclusion of a credit agreement

Legal basis: Article 17 section 1 of MAR – confidential information

Content of the report:

The Management Board of J.W. Construction Holding S.A. with its registered office in Ząbki ("Company") informs that on 3 April 2020 the Company concluded an agreement with mBank S.A. with its registered office in Warsaw ("Bank") on the basis of which the Bank granted the Company a working capital credit in the amount of PLN 17.300.000,00 ("Credit") intended for financing the current activity of the Company.

Credit material terms and conditions:

1) the final repayment date of the Credit has been set at 30 December 2021.

2) the credit will be paid in 7 quarterly instalments: first two instalments of PLN 2,500,000 each, four instalments of PLN 3,000,000 each and the last instalment of PLN 300,000.

3) the interest rate is variable on a monthly basis based on WIBOR 3M base rate plus the Bank's margin;

3) the legal collateral for the Credit constitute

a) - contractual total mortgage up to the amount of PLN 25,950,000 (say: twenty five million nine hundred fifty thousand 00/100) on:

- the real estate constituting a plot of land with the registration number 5/1 from the area 86, located in Szczecin at 2 Celna Street, for which the District Court Szczecin-Prawobrzeże i Zachód in Szczecin, 10th Land and Mortgage Register Department keeps the Land and Mortgage Register no. SZ1S/00105003/9,

- real estate constituting plot of land No. 7/2 and plot of land No. 5/4 from the area 86, located in Szczecin at 4 Celna Street, for which the District Court Szczecin-Prawobrzeże i Zachód in Szczecin, 10th Land and Mortgage Register Department keeps the Land and Mortgage Register no. SZ1S/00057403/1,

- real estate constituting plot of land No. 7/4 from area 86, located in Szczecin at 4 Celna Street, for which the District Court Szczecin-Prawobrzeże and Zachód in Szczecin, 10th Land and Mortgage Register Department keeps the Land and Mortgage Register no. SZ1S/00211345/4.

b) the Company's statement on submission to the rigour of execution under Article 777 §1 point 5 of the Act on Public Procurement of the Code of Civil Procedure up to the amount of PLN 25,950,000 ( say: twenty five million nine hundred and fifty thousand 00/100) to the benefit of the Bank as a security for the repayment of the principle, interest and all costs related to the collection of the debt on account of the granted credit.

4) the Credit is disbursed after the documents establishing collateral for the Credit are submitted to and approved by the Bank.

5) no provision for contractual penalties. The Company has considered this to be important information during the epidemic.