Investor relations

Subject: Significant construction contract concluded. 

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") hereby informs that on 5 March 2021 the Company concluded an agreement with PORR S.A. with its registered office in Warsaw as the General Contractor ("Contractor") on the basis of which it commissioned the construction of the "Horizon" Residential and Commercial Development Complex (Stages I and II) along with external infrastructure necessary for the functioning of the complex on a real property in Gdańsk Letnica at 65A and 67 Starowiejska Street in the general contracting system together with obtaining the final decision on the occupancy permit. 

The parties have established the following contract terms: 

The deadline for obtaining the final occupancy permit was set for 18 September 2023. 

The Contractor's remuneration was established as a lump sum based on the scope of works amounting to PLN 157,000,000.00 plus VAT at the rate applicable on the day of invoicing. 

The Contractor has provided the Company with a 72 month warranty for the completed works, the term of which starts from the date of obtaining the occupancy permit. 

The Contractor shall secure the performance of the contract and the warranty period for the completed works by providing the Company with bank guarantees in the amounts commonly used for this type of contract. 

In other respects, the terms of the Agreement do not substantially differ from those commonly used for this type of agreement. 

The reason for submitting this report is the significance of the concluded agreement for the Company's operations, both in terms of value and subject matter.