Slide 1: Murapol Group Investor presentation 1Q 2026
Confidential Murapol Group Investor presentation financial data for 1Q 2026 1 20 May 2026 Łódź
Slide 2: Presenting today
Confidential Presenting today Murapol Management Board Nikodem Iskra Przemysław Kromer Iwona Sroka CEO CFO Marketing, PR, IR & ESG 2
Slide 3: Summary of 1Q 2026
Confidential Summary of 1Q 2026 1 Revenues reached nearly PLN 142.3 million, net profit nearly PLN 21.7 million Total sales of 953 units (735 units under development contracts and preliminary sales agreements, an additional 2 218 paid reservation agreements). In 1Q 2026 39% of customers paid cash an
Slide 4: About the Group
Confidential About the Group 4 Bielsko- Biała
Slide 5: Murapol Group: 25 years, 21 cities
Confidential Murapol Group • One of the largest and most 25 years 21 cities experienced residential developers in Poland Gdynia Gdańsk presence on the with Murapol Group • The most geographically diversified Bydgoszcz Olsztyn residential market developments portfolio of development projects in Szcze
Slide 6: Two complementary segments
Confidential Two complementary segments PRS segment generating significant incremental cash in addition to core resi-for-sale business Sales are carried out in two operating segments: • Affordable product highly resilient to Affordable product macroeconomic fluctuations Resi-for-sale • Addressing th
Slide 7: Product targeted to the broadest group of customers
Confidential Product targeted to the broadest group of customers Apartments in the affordable and affordable premium segments Structure of apartment sales by gross price (PLN ’000) Apartments priced below PLN 600,000 constituted about 77% of Murapol Group’s total sales 28.6% 22.2% 21.9% 12.0% 11.2%
Slide 8: Examples of projects by the group
Confidential Examples of projects by the group A presence in all main aglomerations Łódź Kraków Wrocław Gdańsk Katowic e Warszawa 8
Slide 9: Examples of projects by the group
Confidential Examples of projects by the group Attractive offer in regional cities Bydgoszcz Toruń Lublin Bielsko-Biała Chorzów Gliwice 9
Slide 10: Murapol | 1Q 2026
Confidential Murapol | 1Q 2026 10 Katowice
Slide 11: Situation on the residential developers' market 1Q 2026
Confidential Situation on the residential developers’ market 1Q 2026 Change in average salary vs. inflation (CPI) • Lower interest rates are supporting customers’ credit capacity. From March 2026 the main reference rate of the National Bank of Poland is 3.75% per annum (unchanged rising consumer pur
Slide 12: Key events in 1Q 2026
Confidential Key events in 1Q 2026 Stable sales and strong product line, in line with sales plans 953 units 218 units 3,807 units sold: 735: development and preliminary sale added to the on offer at the end agreements product line (R4S of March 2026 218: paid reservation segment) agreements Gdańsk 1
Slide 13: 1Q 2026 in numbers
Confidential 1Q 2026 in numbers • Lower results in 1Q 2026, while maintaining high profitability at the GM1 level, were mainly due to the low mid- year number of handovers in the first quarter. For 2026 as a whole, handovers are expected to grow by over 10% premises sold 256 units handed over to ret
Slide 14: Sales of units in 1Q 2026
Confidential Sales of units in 1Q 2026 Comparable sales y/y • In 1Q 2026 a total of 953 units were sold • The most apartments in the R4S segment were sold in Łódź (128) Gdańsk (104), and Warsaw (91) • 735 units (vs. 707) were sold under development contracts and preliminary sale agreements, with an
Slide 15: Handovers of units in 1Q 2026
Confidential Handovers of units in 1Q 2026 Level of handovers in the retail segment linked with project timetables • The keys to 256 units were handed over to retail customers • In 2025 the most units were handed over to customers in Łódź (90) and Gdańsk (49) • Decrease in the average price of deliv
Slide 16: Potential handovers in 2026
Confidential Potential handovers in 2026 Total number of units in projects, based on the anticipated number of occupancy permits Total Units handed over in 2025 2,649 Units handed over in 1Q 2026 256 Ready but not handed over units with occupancy permit at the end of 1Q 2026 921 Projected no. of uni
Slide 17: Key financial data for 1Q 2026
Confidential Key financial data for 1Q 2026 Results impacted by low level of handovers in 1Q 2026 • The decline in revenue by 57% tracks the 61% lower level of handovers in 1Q 2026—the effect of the mid-year timetable for development projects. For 2026 as a whole, handovers are expected to rise by o
Slide 18: Key financial data for 1Q 2026
Confidential Key financial data for 1Q 2026 • Lower results in 1Q 2026, while maintaining high profitability at the GM1 level, were mainly due to the low mid- year number of handovers in the first quarter. For 2026 as a whole, handovers are expected to grow by over 10% GM1 * EBIT Net profit (PLNm) (
Slide 19: Key financial data for 1Q 2026
Confidential Key financial data for 1Q 2026 • Lower results in 1Q 2026, while maintaining high profitability at the GM1 level, were mainly due to the low mid- year number of handovers in the first quarter. For 2026 as a whole, handovers are expected to grow by over 10% GM1 * Adjusted EBITDA** Net pr
Slide 20: Group's current financing structure
Confidential Group’s current financing structure Cash position Debt (PLNm) (PLNm) 0,86 1,19 406,2 0,39 722,3 347,7 643,6 120.8 287,3 552,3 38.9 106.0 46.6 37.1 141.4 597.0 683.4 285.4 515.2 241.7 335.7 145.9 309.7 108.9 31.03.2024 1/1/24 31.03.2025 1/1/25 31.03.2026 1/1/26 1/1/23 31.03.2024 1/1/24 3
Slide 21: Corporate debt maturity
Confidential Corporate debt maturity Refinancing to be finalized by year-end New facility of total PLN 550m o PLN 300m bullet repayment in 2029 o PLN 150m amortized o PLN 100m RCF (to be drawn when needed) • Quarterly amortization of 10.7m • Margin compression expected by c. 70-80 bps Maturity of co
Slide 22: High level of product on offer, and strong landbank
Confidential High level of product on offer, and strong landbank • At the end of 1Q 2026 the Murapol offer included 3,807 units in 16 cities: a presence in all key urban areas of Poland as well as regional cities • Number of units under construction: 7,321 in 25 projects in 14 cities • Active landba
Slide 23: Planned additions to product line through 3Q 2026
Confidential Planned additions to product line through 3Q 2026 • Ensuring a broad, appropriately diversified offer, suited to the pace of sales • In full-year 2026 it is planned to introduce c. 3,000 units to the product line • In 1-3Q 2026 over 72% of new product will be projects in major urban are
Slide 24: Projects under construction at the end of 1Q 2026
Confidential Projects under construction at the end of 1Q 2026 High number of units under construction • Number of units under construction: 7,321, with a total floor • The most units under construction are in Gdańsk (1,488) Łódź (1,217) area of nearly 306,000 m2, in 92 buildings in 14 cities and Kr
Slide 25: Projects under construction
Confidential Projects under construction High number of units being built • Number of ready units with occupancy permit at the end of 1Q 2026: 921, including 306 units sold but not handed over and 615 available units with an occupancy permit Projects under construction in R4S segment Projects under
Slide 26: Projects in the pipeline at the end of 1Q 2026
Confidential Projects in the pipeline at the end of 1Q 2026 Attractive and well-diversified portfolio of pipeline projects • 14,734 units in the pipeline, with a combined floor area of over • Strong landbank in Warsaw, with a capacity for 3,593 units, Poznań 600,000 m2, in 16 cities (2,489), and Kat
Slide 27: PRS segment complementing R4S business
Confidential PRS segment complementing R4S business • Completed units: 2,642 (including 2,281 PRS units and 361 student housing units) • Units under construction: 1,392 • Units in the pipeline: 674 COMPLETED UNDER CONSTRUCTION IN THE PIPELINE Location Residential units Location Residential units Loc
Slide 28: Summary
Confidential Summary 28 Wrocław
Slide 29: Summary of 1Q 2026
Confidential Summary of 1Q 2026 1 Revenues reached nearly PLN 142.3 million, net profit nearly PLN 21.7 million Total sales of 953 units (735 units under development contracts and preliminary sales agreements, an additional 2 218 paid reservation agreements). In 1Q 2026 39% of customers paid cash an
Slide 30: Prospects for 2026
Confidential Prospects for 2026 1 Total sales in the retail segment of c. 3,300 units (development agreements, preliminary sale contracts, and paid reservation agreements) 2 Estimated level of handovers in 2026: c. 3,000 units Maintaining the dividend policy described in the prospectus: earmarking f
Slide 31: Thank you!
Confidential Thank you! Investor Relations contact: ir@murapol.pl Q3 2023 r. Q&A 31
Slide 32: Appendices
Confidential Appendices 32 Lublin
Slide 33: 25 years of the Murapol Group
Confidential 25 years of the Murapol Group AEREF V PL Investment S.à.r.l (now AEREF V PL 2001 Launch of business in Bielsko-Biała 2020 Inwestycje sp. z o.o.) becomes the majority shareholder Łódź Entry into the PRS segment 2021 Biggest total sales of all developers, over Gdańsk 4,500 units Poznań Hi
Slide 34: R4S – Product line resilient to macro changes
Confidential R4S – Product line resilient to macro changes Murapol has a strong offer, with a presence in all major urban areas, and also in regional cities Split of credit vs. cash customers, along with Sales structure* sales volumes achieved in the R4S segment 64% 52% 61% 67% 50% Major urban areas
Slide 35: Projects under construction
Confidential Projects under construction • As of the end of 1Q 2026 the portfolio of projects under construction included 7,321 units with a combined usable floor area of 306,000 m2, being erected in 92 buildings in 25 developments in 14 cities No. of residential and UFA (residential and Location Pr
Slide 36: Projects under construction
Confidential Projects under construction No. of residential and UFA (residential and Location Project commercial units commercial units) (m2 ) Kraków Murapol GreenCity (bud. 1,2) 249 11,627 Kraków Okulickiego (bud.1) [PRS] 444 13,275 Kraków Murapol Prado (bud. 1, 2) 222 10,525 Kraków Murapol Prado (
Slide 37: Projects under construction
Confidential Projects under construction No. of residential and UFA (residential and Location Project commercial units commercial units) (m2 ) Warsaw Murapol Urcity (bud. 1, 2) 216 10,598 Warsaw Murapol Urcity II bud. 3, 4) 194 9,480 Wrocław Murapol Motivo (bud. 1) 319 11,605 Wrocław Murapol Osiedle
Slide 38: Projects in the pipeline
Confidential Projects in the pipeline • As of 31 March 2026, in the Murapol Group’s landbank there was a portfolio of pipeline projects including about 14,800 units with a combined usable floor area of over 600,000 m2, ensuring the continuity of its business for several years to come Location Planne
Slide 39: Projects introduced for sale in 1Q 2026
Confidential Projects introduced for sale in 1Q 2026 • In 1Q 2026 Murapol added 218 new units to its product line Location Units introduced in 1Q 2026 Units introduced in 2Q 2026 Units introduced in 3Q 2026 Units introduced in 4Q 2026 Bielsko-Biała - Bydgoszcz - Gdańsk - Gdynia - Gliwice - Katowice
Slide 40: What sets us apart?
Confidential What sets us apart? 1 Proven stable sales results despite challenging macroeconomic conditions 2 Leading market position with highly supportive fundamentals 3 Unique and vertically integrated business model—high cashflow, low engagement of equity, optimal margins 4 High level of geograp
Slide 41: Unique, resilient business model
Confidential Unique, resilient business model Integrated business model Building Information Modelling Land acquisition BIM technology enables preparation of a precise bill of quantities, helping prevent • Effective land acquisition model • Payment of a large portion of the price deferred conceptual
Slide 42: In-house systems – a key element of operating procedures
Confidential In-house systems – a key element of operating procedures Use of BIM and Unit 94 enables standardization and efficiency of processes for project design, budgeting, and selection of subcontractors Unit 94 The BIM and Unit 94 technologies, used by Murapol and not by other developers, allow
Slide 43: Profit and loss statement
Confidential Profit and loss statement PLN ’000 31.03.2026 31.03.2025 Change 142,298 330,554 -57.0% Sales revenue 105,627 300,001 -64.8% Revenue from sales to retail customers 36,671 30.553 +20.0% Revenue from sales to PRS Gross profit on sales 42,999 113,466 -62.1% 30.2% 34.3% -4.1 p.p. Gross margi
Slide 44: Balance sheet
Confidential Balance sheet Assets 31.03.2026 31.12.2025 Liabilities 31.03.2026 31.12.2025 Equity attributable to Non-current assets 95,004 94,595 shareholders of the parent 662,350 640,954 Current assets 2,470,567 2,339,028 company Total shareholders’ equity 662,350 640,954 Total assets 2,565,571 2,
Slide 45: Shareholders
Confidential Shareholders Shareholder No. of shares Capital AEREF V PL Inwestycje sp. z o.o. 6,996,000 17.1% 42.7% oth ers 17.1% Hampont sp. z o.o.** 6,892,000 16.9% AERE F V PL Inwesty cje sp . z o.o. Nationale Nederlanden PTE* 4,757,113 11.7% Forum Euro Nieruchomości Fundusz Inwestycyjny Zamknięty
Slide 46: Organizational culture and corporate governance
Confidential Organizational culture and corporate governance Solid governance structure aimed at effective and sustainable growth in value Supportive shareholders and independent Experienced supervisory board decision-making • Highly experienced Supervisory Board with • Experienced stakeholders with
Slide 47: Legal disclaimer
Confidential Legal disclaimer This presentation was prepared solely for informational purposes. It does not constitute an advertisement or offering of secu rities in public trading. Sources of information were used in the presentation which Murapol SA regards as reliable and precise, but there is no