Centrum Nowoczesnych Technologii S A : Information on the sale of commercial premises and residential premises for Q1 2021 as part of real estate development activities.

Report number: 08/2021

Date of issue: 2021-04-01 15:20

Subject: Information on the sale of commercial premises and residential premises for Q1 2021 as part of real estate development activities.

Contents of the report:

The Management Board of Centrum Nowoczesnych Technologii Spółka Akcyjna with its registered office in Sosnowiec ("the Issuer", "the Company") hereby informs that, having completed on 1 April 2021 the aggregation of partial data, the subsidiary company Centrum Nowoczesnych Technologii Spółka Akcyjna spółka komandytowa ("the Subsidiary") provided the Issuer with information on the results of sales of commercial premises and residential premises as part of the development project Nowa 5 Dzielnica in Krakow. The sales process under the aforementioned investment was commenced in March 2017.

The Issuer reports that the subsidiary entered into 30 development agreements and preliminary agreements for the sales of residential units in Q1 2021. In total, in Q1 2021, the subsidiary entered into 121 agreements transferring ownership of residential units and commercial premises.

Furthermore, as of 01 April 2021, the subsidiary was a party to 1 reservation agreement, which requires transformation into a development agreement.

The Issuer explains that the number of units that will be recognised in the Group's financial result for the period from 1 January to 31 March 2021 will be 121 units (118 residential units, 3 commercial units). In accordance with the accounting policy of Centrum Nowoczesnych Technologii Spółka Akcyjna spółka komandytowa, the subsidiary company considers that the transfer of risks, control and benefits is effected upon signing the notarial deed transferring the ownership of the purchased property. Once revenue from the sales has been recognised, the subsidiary recognises and allocates the technical cost of the space in question, reducing inventories in proportion to the share of the premises sold in the total floor area of the premises sold.

Legal basis Art. 17 (1) MAR - confidential information.