LEX DEVELOPER / ULIM SALE THROUGH A COMPETITIVE BIDDING PROCESS - We comprehensively prepared a development comprising two residential and commercial buildings, with up to 360 apartments, more than 16,500 m² of PUM and PUU, 1,500 m² of retail and service space, and more than 2,400 m² of publicly accessible recreational and sports space. We obtained the residential development location resolution and the environmental decision, prepared the development concept, carried out due diligence and public consultations, and secured the necessary road and education-related arrangements, thereby increasing the property's value. We then valued the land, conducted a competitive sale process, sourced, verified and recommended the buyer, and supported the parties through completion of the transaction. As a result, with Greenfields' support, the area between Bieżuńska and Rozwadowskiego Streets, on the boundary between residential and industrial Targówek, will be transformed into a new piece of urban fabric.

SALE THROUGH A COMPETITIVE BIDDING PROCESS - After months of negotiations and intensive work by Michał Różycki's team, the competitive process conducted on behalf of the Seller has been completed. The sale of approximately 28,500 m² of land at Posag 7 Panien Street in Warsaw has been finalised. Equilis entrusted us with comprehensive management of the process, from preparing presentations for clients and obtaining the best offers through to completing the sale of the site for a mixed residential and commercial development. Posag 7 Panien Street is an example of the necessary urban transformation taking place in Warsaw. Abandoned former industrial sites, where traces of industrial history can still be found, are changing their function and reshaping the district's landscape. They are being returned to the community and becoming places full of new opportunities for residents.

We have known the owners of this Warsaw site, located within Moczydło Park in Wola, for many years. For a long time, they tried to develop the land in line with the provisions of the local zoning plan for Moczydło Park, which permitted, among other things, sports and recreational facilities. There were prospective buyers who, in accordance with the plan, considered various scenarios, such as a drive-through restaurant or sports facilities, but this is where our unusual role began. Instead of closing another commercial transaction, we became involved in a genuinely valuable idea: we convinced the owners that the best use for the site was to incorporate it into Moczydło Park. The transaction with a public-sector entity was successfully completed.

In February, we reported on Victoria Dom's 2024 transactions, which represented the potential to build more than 2,000 apartments in Warsaw's Ursus and Włochy districts. We can now add more than 20,000 m² of PUM, with the potential for approximately 400 apartments. The completed transaction concerns another Victoria Dom project in Ursus. The developer plans a modern combination of single-family and multi-family housing, including one- to three-room apartments ranging from approximately 30 to 63 m², as well as larger houses.

SALE THROUGH A COMPETITIVE BIDDING PROCESS - On behalf of the owners, we prepared the property for sale, conducted a competitive bidding process and selected the winning bidder. The heritage-protected building has the potential to be converted from commercial use to multi-family residential use while preserving its historic character. The estimated PUM is approximately 4,000 m². Its attractive location, excellent transport connections and access to well-developed infrastructure generated strong investor interest. The project is an example of the effective reuse of existing urban fabric and the introduction of a new function that responds to the city's contemporary needs.

We completed the sale agreement for a commercial-use site with the potential for multi-family residential development of approximately 14,000 m² of PUM in Warsaw's Targówek district. This was another transaction built on trust and a long-term client relationship. Our role included comprehensive advisory services, process coordination and support during negotiations through to completion. It was a genuine race against time, as the landowner wanted to sell the site before year-end. Thanks to efficient cooperation, we achieved this as planned. The notarial deed was executed in December 2025. The transaction was led on behalf of Greenfields by Ewelina Ostaszewska.

INTEGRATED INVESTMENT PLAN (ZPI) SALE THROUGH A COMPETITIVE BIDDING PROCESS - The current local zoning plan (MPZP) allows production uses on the site. We estimate the site's potential for multi-family residential development at approximately 35,000 m² of PUM. The key milestone is obtaining a resolution under the Integrated Investment Plan (ZPI) procedure, which establishes the planning framework for the site and enables its use to be changed to residential. Greenfields offered the owner comprehensive management of the entire process: introducing multi-family residential use through the ZPI procedure, which will allow the owners to achieve a significantly higher sale price for the land, and conducting a competitive process to select the Buyer. We are currently preparing the full set of materials, producing visualisations, and collecting and verifying offers from both legal/formal and commercial perspectives.

INTEGRATED INVESTMENT PLAN (ZPI) - Under an exclusive agreement, we are managing the preparation of land in Warsaw's Włochy district with the aim of obtaining an Integrated Investment Plan (ZPI). The estimated project potential is approximately 38,000 m² of PUM. The site has substantial investment potential. We are working to complete the planning and urban-design pathway as quickly as possible so that the Investor can move into the next stages of the development process.

SALE THROUGH A COMPETITIVE BIDDING PROCESS - Greenfields announces the signing of a preliminary agreement concerning a residential project in Warsaw's Praga-Południe district. The planned development involves a property with potential exceeding 12,000 m² of PUM and will be implemented on the basis of a development conditions decision. Due to confidentiality provisions, we cannot disclose detailed information about the project at this stage. We will provide updates on subsequent stages in due course.