Raport finansowy Grupy Echo Investment za I półrocze 2025

Echo Investment

presentotion

H12d2S results

ECHO

1 G R O U P l

Neither this presentotion (the "Presentotion"), nor any copy of it, nor the information contained herein is being issued or may be distributed directly or indirectly to or into the United States, Canada, Australia or Japan.

This Presentotion has been prepared by Echo Investment S.A. (the "Company") solely for informational purposes and does not

constitute or form port of, and should not be construed os, on offer, solicitation or invitation to subscribe for, underwrite or otherwise require, any securities of the Company or any member of its group (the "Group") in any jurisdiction, including Poland and the United States, nor should it or any port of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of the Company or any member of its Group, or any other contract or commitment whatsoever. This Presentotion does not constitute a recommendation or legal, tax, accounting or investment advice regarding any securities of the Company or its Group. We recommend that the recipient seek independent third porty legal, regulatory, accounting and tax advice regarding the contents of this document.

The information contained in the Presentotion does not purport to be comprehensive and has not been independently verified. To the extent permitted by law, no representation, warranty or undertaking, expressed or implied, is made os to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein.

This Presentotion contains certain "forward-looking statements". Forward-looking statements are generally identifiable by the use of

certain words, including but not limited to: "may", "will", "should", "plan", "expect", "anticipate", "estimate", "believe", "intend", "project", "goal" or "target" or the negative of these words or other variations on these words or comparable terminology or refer to information relating to the current year and the future. Forward-looking statements are based on current expectations and assumptions and involvea number of known

and unknown risks, uncertainties and other factors that could cause the Company's or its industry's actual financial condition, results

of operations or performance to be materially different from any future financial condition, results of operations or performance expressed

or implied by such forward-looking statements. You should not place undue reliance on forward-looking statements and to the extent permitted by the applicable laws, the Company does not undertake to publicly update or revise any forward-looking statements that may be made herein, whether os a result of new information, future events or otherwise.

This Presentotion contains certain statistical and market information. Such market information has been sourced from and/or calculated based on data provided by third-porty sources identified herein or by the Company, if not attributed exclusively to third-porty sources. Because such market information has been prepared in port based upon estimates, assessments, adjustments and judgments which are based on the Company's or third-porty sources' experience and familiarity with the sector in which the Company operates and has not been verified by on independent third porty, such market information is toa certain degree subjective. While it is believed that such estimates, assessments, adjustments and judgments are

reasonable and that the market information prepared appropriately reflects the sector and the market in which the Company operates, there is no assurance that such estimates, assessments, adjustments and judgments are the most appropriate for making determinations relating to market information or that market information prepared by other sources will not differ materially from the market information included herein. The data presented below take into account the influence of the current epidemiological situation on the economy, to the extent the Management Board is obie to assess the effects at this point. In case impact of pandemic would be different to the currently expected, data presented may change.

This Presentotion is not directed to, or intended for distribution to or use by, any person or entity that isa citizen or resident of, or located in, any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or applicable regulations or which would require any authorisation, registration, notification or licensing within such jurisdiction. Persons into whose possession this Presentotion, any port of it or other information referred to herein comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitutea violation of the securities laws of any such jurisdiction.

1. Highlights

2. Segments Outlook

3. Key Financial Data

4. Living - Residential for Sale 05 Living - ResińRent

Living - Student Housing

1. Commercial - Office and Retail

2. ESG

Financials

10 Q6A

Ommercial sector

• Sole of office and retoil ossets storted with City 2 and Towarowa Office House on the investment morket, today more octive than in 2024 with the aim to reduce equity invested in the sector and increase liquidity, despite of resulting fair value write-offs

• Focus on new office projects in CBD Worsow os on interesting morket for the Group os the investor activity is alwoys higher resulting in stronger yields

  @/ing sector

• Focus on growth of soles and handovers of oportments in Archicom

• Continued development of new PRS projects with porallel withdrowol of copitol from mature PRS projects through disposols started with TAG Immo en and refinoncing

• Continued development of Student Space platform

  @nance

• Repoyment of over PLN 0.5bn of project debt with the sale of commercial projects and the remoining

  funds of opprox. PLN 0.8bn applied to:

  • reduction of corporate debt

  • investment in living segment and Warsaw CBD office developments

  • payment of dividend

• Chonge of bolonce sheet structure with less commerciol ossets finonced by bank debt and higher proportion of residential assets financed by residential clients prepoyments following strong residential sales growth

ECHOGROUP

Next Generotion Cities