One United Properties S.A. · BVB:ONE

One United Properties — Investor Presentation (September 2023)

70 slides from One United Properties's investor presentation, September 2023

Slide 2: Disclaimer
DISCLAIMER This presentation is not, and nothing in it should be construed as, an offer, invitation or recommendation in respect of shares issued by One United Properties S.A. (“ONE”), or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy One United Properties share
Slide 3: Contents
Contents Executive Summary 1. About One United Properties 2. Portfolio 3. Historical Results Highlights 4. H1 2023 Results Highlights 5. Management 2023 © ONE UNITED PROPERTIES 3 CONFIDENTIAL DOCUMENT
Slide 5: One United Properties
One United Properties is a leading green investor and developer of residential, mixed- use and commercial real estate in Bucharest, Romania. One United Properties is an ONE UNITED innovative company dedicated to accelerating the adoption of construction practices for energy-efficient, sustainable, a
Slide 6: ONE Track Record
ONE TRACK RECORD 2022 – FUTURE 2012 – 2018 2019 – 2021 Focus on large to very large High-end and ultra-high-end developments developments Attention to quality & brand recognition Smaller developments First large-scale high-rise Consolidation of the position developments Entry to the office market on
Slide 7: ONE at a Glance
ONE AT A GLANCE Residential segment prospect Construction Planning phase phase GDV €1,478.8m €858.5m No of units 5,692 3,056 Commercial segment prospect 31.08.2023 Est. by 31.12.2025 Market Value (Gross Asset €449.3m €710.6m1 Value) GLA 141K 220K (1) Calculated for the completion of buildings under
Slide 8: Key Financial Data
KEY FINANCIAL DATA Turnover Net profit 1,166 509.7 502.5 1,120 537.4 197.4 396.4 176.9 2019 2020 2021 2022 2019 2020 2021 2022 Sales of residential property Rental income 769.5 78.9 703.3 437.5 147,4 16.5 11.8 1.7 2019 2020 2021 2022 2019 2020 2021 2022 2023 © ONE UNITED PROPERTIES 8 in RON CONFIDEN
Slide 9: Key Indicators
KEY INDICATORS Built surface1 – residential (m2) GLA office portfolio (m2) 1,047,000 136,000 101,000 483,000 350,000 47,000 270,000 23,000 2019 2020 2021 2022 2019 2020 2021 2022 Cumulated, includes both finalized and under construction. 1 Apartments sold and pre-sold2 GLA retail portfolio3 (m2) 1,7
Slide 10: 2023 Budget
2023 BUDGET The revenues from residential property sales are targeted to reach RON 1bn in 2023 (+31% vs 2022). For 2023, the One United Properties sales team has a portfolio of 1,143 residential units available for sale and pre-sale. Additionally, pre- sales for other 1,167 units located within the
Slide 11: ONE Today
ONE TODAY ü Above EU average CAGR of GDP per capita I Attractive Market & Macro Conditions ü Unmatched demand of residential properties amid highest overcrowding within EU-27 Proven business model ü Proven residential development process providing returns and superior margins II delivering superior
Slide 12: 1. About One United Properties
1. ABOUT ONE UNITED PROPERTIES 2023 © ONE UNITED PROPERTIES CONFIDENTIAL DOCUMENT
Slide 13: Key Investment Highlights
KEY INVESTMENT HIGHLIGHTS 1. FAVOURABLE MARKET DYNAMICS FOR RESIDENTIAL SEGMENT Between 2016-2020, Romania’s GDP per capita increased with CAGR of 7.4%, above EU CAGR of 2%. Bucharest-Ilfov region has population of 2.3 million inhabitants and GDP per capita of 164% compared to EU-27 average, making
Slide 14: Track Record of Excellence; Risk Reduction Through Pre-Sales
4. TRACK RECORD OF EXCELLENCE IN EXECUTION ONE so far developed 10 residential projects with GDV of over €450m and 3 office buildings, having won numerous awards both locally and internationally. The developments are distinguishable by the exceptional interior design, made by Lemon Interior Design,
Slide 15: Strategic Keypoints
STRATEGIC One United Properties’ strategy is to invest in premium development opportunities with prospects of sustained returns and to continue leading the high-end residential development sector. The main directions KEYPOINTS of action to achieve this are: • Maintain leadership position in the prim
Slide 16: Residential Timeline and Financial Milestones
RESIDENTIAL TIMELINE II ONE ONE Modrogan Herastrau Vista ONE Timpuri Noi ONE Verdi Park ONE Cotroceni Towers ONE ONE Floreasca City Vista Club ONE ONE Herastrau Floreasca City Towers ONE ONE €51.5 North ONE Cotroceni equity Downtown Park III & IV Lofts raise ONE Plaza ELIADE Athenee O Tower ONE Vict
Slide 17: Interior Design
INTERIOR DESIGN Superior interior design is at the core of ONE’s business. All of One United Properties developments are distinguishable by the exceptional design, made by Lemon Interior Design. Lemon is a a multi-award-winning interior design and fit-out company based in Bucharest. Lemon received a
Slide 18: Purpose Statement
PURPOSE STATEMENT One United Properties’ purpose is to improve existing and to build new communities, by developing quality, energy-efficient buildings, as well as to generate long-term value growth for the shareholders. One United Properties has pioneered mixed-use development concept in Romania, b
Slide 19: Sustainability
SUSTAINABILITY One United Properties is a member of Romanian Green Building Council (RGBC), organization promoting environmental responsibility and energy efficiency. All office developments are WELL Health and Safety certified, the most rigorous certification focused on employee wellbeing, as well
Slide 20: Recognition
RECOGNITION 2023 2022 2022 2022 2022 One United Properties One United Properties One United Properties One Cotroceni Park One United Properties Residential developer Real Estate Developer Public Listed Company of the Year Best practices for Best Urban of the Year 2021 in Romania of the Year proven s
Slide 21: Recognition
RECOGNITION EUROPEAN EUROPEAN PROPERTY PROPERTY AWARD AWARD 2021 2021 2020 2020 2020 2019 2019 2019 One Tower One Tower One Mircea Eliade One Floreasca City Leader Green Developer of the Year One Tower Residential Developer Development of the Year at HOF the first office building in received the WEL
Slide 22: ONE on BVB
ONE ON BVB INDICES ANALYST COVERAGE Average daily liquidity in 2022: RON 1 million P/E : 6.2 on 2022 profit 2022 DivY: 2.5%, paid semi-annually Shareholding structure as of 01.05.2023: Legal entites (13.14%) Andrei-Liviu Diaconescu through OA Liviu Holding Invest SRL (27.58%) Individual Investors (2
Slide 23: ONE Shares Development in H1 2023
ONE SHARES DEVELOPMENT IN H1 2023 H1 2023 Liquidity of ONE shares increased 66% in Q2’23 versus Q1’23. In H1’23, ONE was the 7th most traded stock on BVB in terms of absolute liquidity and 6th most tradeable by liquidity to free-float. The market capitalization as of 30.06.2023, was RON 3.5 billion,
Slide 25: Group Structure
GROUP STRUCTURE Victor Căpitanu through Vinci VER Holding Andrei Diaconescu through OA Liviu Holding Invest Free-float 27.58% 27.58% 44.84% One United Properties ONE RESIDENTIAL ONE OFFICES OTHER INVESTMENTS OPERATIONAL One Lake District One Long Term One Mircea Eliade One Peninsula One Herăstrău On
Slide 26: Opportunity: Macro Context
OPPORTUNITY: MACRO CONTEXT Macroeconomic outlook influenced by high inflation rates across Bucharest GDP per capita is at EU average level and expected to all CEE countries, while GDP growth remains modest grow by a higher CAGR (8.6% until 2025) Harmonized Index of Consumer Price (%, annual change)
Slide 27: Market Opportunity: Bucharest
Bucharest Metropolitan Area - GDP MARKET OPPORTUNITY: evolution (EUR bn) BUCHAREST 81 88 96 66 73 58 61 For at least 20 years, in various ways, the EU is using funds to foster convergence, 54 transferring funds from the states in the developing and mature markets towards those in the emerging market
Slide 28: Residential Segment - Target
RESIDENTIAL Premium residential developments concentrate around the northern area of SEGMENT - TARGET Bucharest The target clients of One United Properties for the residential segment are: • clients looking for developments located in premium areas of Bucharest (Herăstrău, Floreasca, Primăverii, Dor
Slide 29: Residential Segment - Development
RESIDENTIAL SEGMENT ONE’S RESIDENTIAL DEVELOPMENT PROCESS - DEVELOPMENT Identifying the investment opportunity Feasibility analysis and urban and legal due diligence Prior to making a decision to acquire land for development, the management carries out a thorough analysis on the investment Adoption
Slide 30: Delivered Developments
ONE MAMAIA NORD ONE HERASTRAU PLAZA ONE MIRCEA ELIADE ONE FLOREASCA LAKE ONE CHARLES ONE HERASTRAU TOWERS DE GAULLE DELIVERED DEVELOPMENTS MADRIGALULUI ONE HERASTRAU PARK RESIDENCE 2023 © ONE UNITED PROPERTIES CONFIDENTIAL DOCUMENT
Slide 31: ONE Herăstrău Towers and Other Delivered Projects
ONE ONE HERĂSTRĂU TOWERS MAMAIA NORD Phase I Phase II Starting date Oct‘18 Starting date Sep‘18 Q3’22 Completion Date Jan’22 Completion Date Jul‘21 Q4’24 RESI UNITS 147 RESI UNITS 50 86 PP 255 PP 69 148 GBA (sqm) 33,007 GBA (sqm) 8,523 19,800 Saleable (sqm) 21,985 Saleable (sqm) 6,285 10,039 - Apart
Slide 32: ONE Herăstrău Park and Other Delivered Projects
ONE ONE CHARLES DE GAULLE HERĂSTRĂU PARK Starting date Oct‘15 Starting date Aug‘15 Completion Date Jun‘18 Completion Date May‘17 RESI UNITS 33 RESI UNITS 109 PP 55 PP 155 GBA (sqm) 9,197 GBA (sqm) 27,050 Saleable (sqm) 5,378 Saleable (sqm) 17,806 - Apartments 5,378 - Apartments 17,806 GDV (m) € 22.7
Slide 33: Developments Under Construction & in Pipeline
UNDER CONSTRUCTION & IN PIPELINE DEVELOPMENTS ONE FLOREASCA ONE COTROCENI PARK ONE VISTA VERDI PARK ONE PENINSULA ONE TIMPURI NOI ONE HERASTRAU VISTA ONE LAKE DISTRICT ONE MODROGAN ONE LAKE CLUB 2023 © ONE UNITED PROPERTIES CONFIDENTIAL DOCUMENT
Slide 34: ONE Verdi Park and Other Developments
ONE ONE VERDI PARK FLOREASCA VISTA Starting date Nov‘19 Starting date Q2’20 Completion date Q1’23 Scheduled Completion Date 2023 RESI UNITS 324 RESI UNITS 63 PP 492 PP 73 GBA (sqm) 62,722 GBA (sqm) 11,719 Saleable (sqm) 38,282 Saleable (sqm) 9,232 - Apartments 35,155 - Apartments 9,232 - Commercial
Slide 35: ONE Peninsula and Other Developments
ONE ONE PENINSULA MODROGAN Starting date Oct‘20 Starting date Oct‘20 Scheduled Completion Date Q2’24 Scheduled Completion Date 2024 RESI UNITS 167 RESI UNITS 48 PP 287 PP 90 GBA (sqm) 52,959 GBA (sqm) 14,803 Saleable (sqm) 36,087 Saleable (sqm) 9,739 - Apartments 36,087 - Apartments 9,739 GDV (m) €
Slide 36: ONE Floreasca Towers and Other Developments
ONE ONE FLOREASCA TOWERS HIGH DISTRICT Starting date Nov’22 Starting date Nov’22 Estimated Completion Date Q2’25 Estimated Completion Date Q4’25 RESI UNITS 208 RESI UNITS 829 PP 254 PP 1,134 GBA (sqm) 44,000 GBA (sqm) 146,045 Saleable (sqm) 21,210 Saleable (sqm) 73,016 - Apartments 20,237 - Apartmen
Slide 38: Office Segment
OFFICE Building on its residential success, One United Properties entered the office segment in November 2017 through acquisition of One North Gate. ONE focuses on development of Grade A offices, targeting office portfolio GLA of 180K sqm by the SEGMENT end of 2025. Out of that, 114K sqm are already
Slide 39: Office Market – Regional Perspective
OFFICE MARKET – REGIONAL PERSPECTIVE Bucharest provides some of the most attractive office and Main office trends(2) retail yields among main CEE cities Prime yields (%) in Q4 2022 (1) 12 month forecast ü During 2022, a total of 286.1k sqm of office space were rented in 7.75% Sofia Bucharest, a figu
Slide 40: Office Portfolio
OFFICE PORTFOLIO ONE ONE COTROCENI PARK 2 COTROCENI PARK 1 Starting date Jun ‘21 Starting date Sep ‘19 Completion Date Dec ‘22 Completion Date Dec ‘21 TOTAL GLA 34,456 TOTAL GLA 46,252 - Offices (sqm) 32,075 - Offices (sqm) 43,261 - Terraces (sqm) 2,111 - Terraces (sqm) 1,975 - Storage (sqm) 270 - S
Slide 41: Retail Portfolio
RETAIL PORTFOLIO BUCUR OBOR ELIADE TOWER Acquisition date Oct’22 Acquisition date Feb ’22 TOTAL GLA 8,000 RETAIL GLA 26,000 - Offices (sqm) 8,000 Tenants Auchan and multiple small businesses PP 47 ONE GALLERY Starting date Q3’22 Completion Date Q4’24 RETAIL GLA 13,500 Tenant Multiple (high-end) 2023
Slide 42: Historical Landmarks Portfolio
HISTORICAL LANDMARKS PORTFOLIO 2023 © ONE UNITED PROPERTIES 42 CONFIDENTIAL DOCUMENT
Slide 43: 3. Historical Results Highlights
3. HISTORICAL RESULTS HIGHLIGHTS 2023 © ONE UNITED PROPERTIES CONFIDENTIAL DOCUMENT
Slide 44: Evolution of the Residential Segment
EVOLUTION OF THE RESIDENTIAL SEGMENT 703.3 769.5 41% The decrease in the number of units sold in 2022 vs 2021 was the result of the lack of 36% 35% available stock throughout most of the year, due to significant delays from authorities in 437.5 451.6 445.5 approving the building permits. The situati
Slide 45: Evolution of the Commercial Segment
EVOLUTION OF THE 78.9 COMMERCIAL SEGMENT The rental income became significant as of 54.2 2022, following the delivery and the lease out of the two major developments of One United Properties, One Tower and One Cotroceni Park Phase 1, as well as acquisition of One Victoriei Plaza in Q3’22 as well as
Slide 46: Global Result
GLOBAL RESULT 612.7 604.4 576.1 Accelerated growth in 2022 with over 4x increase in the 572.9 key indicators between 2018 and 2022. 509.7 502.5 Despite a significantly larger scale of business, the administrative costs have grown at tempered pace, increasing in 65% in 2022 versus 2021 (excluding the
Slide 48: Financial Highlights
FINANCIAL 843.5 HIGHLIGHTS 6% +4 673.3 604.1 6 % +5 579.2* 386.8 392.7 389.8 353.1 344.5 % +18 +16 % 298.6* 295.8* H1 2022 H1 2023 H1 2022 H1 2023 H1 2022 H1 2023 H1 2022 H1 2023 CONSOLIDATED REVENUE FROM CONSOLIDATED GROSS CONSOLIDATED EBITDA TURNOVER RESIDENTIAL SALES PROFIT *Excluding one-off Buc
Slide 49: Residential, Office and Retail Business Highlights
BUSINESS HIGHLIGHTS RESIDENTIAL OFFICE RETAIL Record EUR 152.4 million in sale and Rental income increased 119% up to Sale in Q3’23 of commercial space pre-sale of residential units in H1’23, a RON 62.8m in H1’23, driven by revenues located within One Verdi Park and 160% YoY increase in context wher
Slide 50: Business & Governance Highlights
BUSINESS & GOVERNANCE HIGHLIGHTS Delivery of One Verdi Park and One Sale of One Herastrau Office, and pre- The management maintains the 2023 Floreasca Vista to customers, with these sale of One North Gate office buildings budget, targeting turnover of RON 1.43 two developments hosting a total of 388
Slide 51: Key Financial Figures – Gross Profit
KEY FINANCIAL FIGURES – GROSS PROFIT 843.5 6% The consolidated turnover of One United Properties grew 25% +4 in H1’23 compared to H1’22 (46% growth excluding the gain 673.3 from bargain purchase of Bucur Obor of RON 94.1m), reaching RON 843.5m. Turnover in H1’23 included revenues from apartment sale
Slide 52: Key Financial Figures - Residential
KEY FINANCIAL FIGURES - RESIDENTIAL Revenues from residential division increased 56%, 604.1 reaching RON 604.1m in H1’23 vs RON 386.8m in 6 % H1’22. +5 The net income from residential property decreased 4% YoY, reaching RON 178.1m due to the revenue 386.8 recognition of the new developments where co
Slide 53: Key Financial Figures - Commercial
KEY FINANCIAL FIGURES - COMMERCIAL 62.8 The rental income and revenues from services to tenants, which includes the income generated by the office as well as retail divisions, more than doubled reaching RON 62.8m. 42.7 % 19 The effect has been driven by the revenues coming +1 from tenants at One Tow
Slide 54: Key Financial Figures
KEY FINANCIAL FIGURES Administrative expenses decreased 37%, to RON 37.9m, due to a major portion of the non-cash SOP allocation being recognized in H1’22. The total non-cash value of SOP in H1’23 392.7 is RON 12.6 million, vs RON 42 million in H1’22. Excluding the 353.1 SOP impact, the administrati
Slide 55: Assets – Residential
ASSETS – RESIDENTIAL Current assets grew 13%, reaching RON 2.1bn due to a 38% increase in inventories (residential properties), which reached RON 917.6m. The significant increase in the inventory represents the One High District addition of One Cotroceni Towers, following the acquisition Other inven
Slide 56: Assets – Office, Retail & Landbank
ASSETS – OFFICE, RETAIL & LANDBANK The non-current assets increased 11%, reaching RON 2.6bn, appreciation driven primarily by a 11% increase in investment properties up to RON 2.5bn, representing the commercial segment and the landbank. The increase is due to inclusion of One Cotroceni Office 4 in t
Slide 57: Liabilities
LIABILITIES The increase in the non-current liabilities was driven by a 12% growth of L&B from banks and other entities, representing a major part of long-term bank loan amounting to approx. RON 712m. The increase is primarily due to new loan for One Athénée Plaza and drawings for ﬁnancing One Cotro
Slide 58: Cash Position
CASH POSITION 567 -30 % The Group maintained the strong cash position of RON 398.2m, down 30% since the beginning of the year due to significant development activity carried out in H1’23 as well as the payment of the second trache of the 2022 dividend in the amount of RON 37.5 million on 30.05.2023.
Slide 59: Cash Inflow
CASH 213 INFLOW Amounts to be received under contracts concluded 100 with customers as of 30.06.2023 amount to EUR 142 281m in additional cash by 2025. Please note that 128 these are the amounts due only for the units that 119 were pre-sold and are to be delivered in the future, excluding any sale d
Slide 60: Residential Pre-Sales
RESIDENTIAL PRE-SALES 152.4 466 apartments with a total surface of 39,082 sqm, 794 parking spaces and other unit types were sold % and pre-sold in H1’23 for a total of EUR 152.4 29 million. 39,082 m2 +1 In H1’22, the Group sold and pre-sold 167 4 6% apartments with a total surface of 15,892 sqm, 419
Slide 61: Resi Trends
RESI TRENDS The significant increase in number of units sold in H1’23 is due to a larger and more diverse portfolio of residential units compared to the same period of the last year. In H1’23 the total number of units available for sale increased significantly due to the addition of One Lake Club an
Slide 62: Resi Trends
RESI TRENDS More than half of the apartments sold by One United Note: 2 room = 1 bedroom. Properties in H1’23 were two-room apartments, with a total sellable area of 15,821 sqm, with the demand for these units increasing 120% vs H1’22. This demand was 5+ rooms/villas particularly visible at One High
Slide 64: Organizational Structure
ORGANIZATIONAL STRUCTURE GENERAL SHAREHOLDERS MEETING BOARD OF DIRECTORS Nomination & Risk & Audit EXECUTIVE MANAGEMENT Remuneration Committee Committee PROJECT FINANCIAL LEGAL INVESTOR INVESTMENTS DEVELOPMENT RELATIONS ESG Committee Internal Audit Litigations ASSET Accounting ARCHITECTURE SALES MAN
Slide 65: Corporate Governance
CORPORATE GOVERNANCE As a listed Company, One complies with the Corporate Governance Code of the Bucharest Stock Exchange and report annually on its Corporate Governance compliance status in accordance with the Bucharest Stock Exchange requirements: • 5 independent directors out of a total of 7 • A
Slide 66: Andrei Diaconescu, Victor Căpitanu
ANDREI DIACONESCU VICTOR CĂPITANU Victor is the co-founder and Executive Andrei is the co-founder and Executive Member of the Board of Directors at One Member of the Board of Directors of United Properties, coordinating Sales, One United Properties, coordinating Marketing , Capital Markets and Opera
Slide 67: Non-Executive Directors
NON-EXECUTIVE DIRECTORS CLAUDIO HORIA MARIUS AUGUSTA DRAGIC MAGDALENA CISULLO DIACONU SOUCEK MANDA Non-Executive Chairman of the Board Non-Executive Director Non-Executive Director Non-Executive of Directors Director Director Mr. Cisullo is the founder Mr. Diaconu is an active Mrs. Magdalena Soucek
Slide 68: Management Team (I)
MANAGEMENT TEAM (I) BEATRICE MIHAI COSMIN VICTOR IONUȚ PĂDUROIU SAMOILĂ SAVI - NIMS DUMITRESCU OCTAVIAN ZUZANNA DUMITRAȘCU CEO Oﬃce Chief Financial Chief Legal Officer Partner Office AVRĂMOIU KUREK CEO Residential Division Officer Division Partner Investor Relations Division Manager Mihai has a long
Slide 69: Management Team (II)
MANAGEMENT TEAM (II) MARIUS ADRIAN ADRIAN ANDRA ANDREI CĂLIN RADU FLORIN CĂLIN ARENDT IONIȚĂ BIZON COROBEA-BÎRCEANU STAN NEACȘU Lead Architect Owner Design Head of Litigation Head of Financing Project Director Project Director Project Director Representative With 30+ years of Adrian has a vast Adria
Slide 70: 2023 Financial Calendar and Contact
Our 2023 Financial Calendar: 14.11.2023 – Q3 2023 Results 15.11.2023 – Q3 2023 Results Call For any follow-up questions: Zuzanna Kurek, IR Manager [email protected] 2023 © ONE UNITED PROPERTIES CONFIDENTIAL DOCUMENT

One United Properties — Investor Presentation (September 2023) on 6ix

One United Properties — Investor Presentation (September 2023)

Slide 1: Investor Presentation

Slide 2: Disclaimer

Slide 3: Contents

Slide 4: Executive Summary

Slide 5: One United Properties

Slide 6: ONE Track Record

Slide 7: ONE at a Glance

Slide 8: Key Financial Data

Slide 9: Key Indicators

Slide 10: 2023 Budget

Slide 11: ONE Today

Slide 12: 1. About One United Properties

Slide 13: Key Investment Highlights

Slide 14: Track Record of Excellence; Risk Reduction Through Pre-Sales

Slide 15: Strategic Keypoints

Slide 16: Residential Timeline and Financial Milestones

Slide 17: Interior Design

Slide 18: Purpose Statement

Slide 19: Sustainability

Slide 20: Recognition

Slide 21: Recognition

Slide 22: ONE on BVB

Slide 23: ONE Shares Development in H1 2023

Slide 24: 2. Portfolio

Slide 25: Group Structure

Slide 26: Opportunity: Macro Context

Slide 27: Market Opportunity: Bucharest

Slide 28: Residential Segment - Target

Slide 29: Residential Segment - Development

Slide 30: Delivered Developments

Slide 31: ONE Herăstrău Towers and Other Delivered Projects

Slide 32: ONE Herăstrău Park and Other Delivered Projects

Slide 33: Developments Under Construction & in Pipeline

Slide 34: ONE Verdi Park and Other Developments

Slide 35: ONE Peninsula and Other Developments

Slide 36: ONE Floreasca Towers and Other Developments

Slide 37: ONE Victoriei Plaza

Slide 38: Office Segment

Slide 39: Office Market – Regional Perspective

Slide 40: Office Portfolio

Slide 41: Retail Portfolio

Slide 42: Historical Landmarks Portfolio

Slide 43: 3. Historical Results Highlights

Slide 44: Evolution of the Residential Segment

Slide 45: Evolution of the Commercial Segment

Slide 46: Global Result

Slide 47: 4. H1 2023 Financial Results

Slide 48: Financial Highlights

Slide 49: Residential, Office and Retail Business Highlights

Slide 50: Business & Governance Highlights

Slide 51: Key Financial Figures – Gross Profit

Slide 52: Key Financial Figures - Residential

Slide 53: Key Financial Figures - Commercial

Slide 54: Key Financial Figures

Slide 55: Assets – Residential

Slide 56: Assets – Office, Retail & Landbank

Slide 57: Liabilities

Slide 58: Cash Position

Slide 59: Cash Inflow

Slide 60: Residential Pre-Sales

Slide 61: Resi Trends

Slide 62: Resi Trends

Slide 63: 5. Management Team

Slide 64: Organizational Structure

Slide 65: Corporate Governance

Slide 66: Andrei Diaconescu, Victor Căpitanu

Slide 67: Non-Executive Directors

Slide 68: Management Team (I)

Slide 69: Management Team (II)

Slide 70: 2023 Financial Calendar and Contact