QUARTERLY REPORT FOR THE 3 RD QUARTER 2018 OF DEKPOL CAPITAL GROUP

QUARTERLY REPORT FOR THE 3 RD QUARTER 2018 OF DEKPOL CAPITAL GROUP Pinczyn, 28 th of November 2018 1

TABLE OF CONTENTS 1. CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS... 4 1.1 Selected consolidated financial data... 4 1.2 Condensed interim consolidated statement of comprehensive income... 6 1.3 Condensed interim consolidated statement of financial position... 7 1.4 Condensed interim consolidated cash flow statement... 9 1.5 Condensed interim statement in changes in consolidated equity... 11 1.6 Additional information to condensed interim consolidated financial statement... 13 1.6.1 Preparation rules of interim condensed separate financial statement... 13 1.6.2 Operating segments... 18 1.6.3 Costs of major operating activities... 19 1.6.4 Other operating revenues... 20 1.6.5 Other operating costs... 20 1.6.6 Financial revenues... 21 1.6.7 Financial expenses... 21 1.6.8 Income tax... 21 1.6.9 Inventories... 22 1.6.10 Trade receivables and other receivables... 22 1.6.11 Financial instruments... 23 1.6.12 Trade liabilities and other liabilities... 25 2. Condensed interim separate financial statement... 26 2.1 Selected separate financial data... 26 2.2 Condensed interim separate statement of comprehensive income... 27 2.3 Condensed interim separate statement of financial position... 28 2.4 Condensed interim cash flow statement... 30 2.5 Condensed interim separate statement of changes in equity... 32 2.6 Additional information to condensed interim separate financial statement 34 2.6.1 Rules for preparing an interim condensed separate financial statement... 34 3. Additional information to Extended consolidated Report for 3 rd quarter 2018 OF DEKPOL Capital group... 35 3.1 Information about DEKPOL capital group... 35 3.1.1 Business activities... 35 3.1.2 Structure of DEKPOL Capital group... 35 2

3.1.3 CHANGES IN THE STRUCTURE OF DEKPOL CAPITAL GROUP IN THE 3 rd QUARTER OF 2018 AND AFTER THE BALANCE SHEET Date... 38 3.2 General information about the parent entity Dekpol S.a.... 38 3.2.1 Company bodies... 38 3.2.2 Share capital structure... 40 3.2.3 Shareholding structure of the Company... 40 3.2.4 Ownership of shares by persons performing managerial and supervisory functions... 41 3.3 Information on operations of dekpol capital group... 41 3.3.1 SUMMARY OF THE ACTIVITIES OF THE DEKPOL CAPITAL GROUP IN THE 3 rd QUARTER OF 2018... 41 3.3.2 SIGNIFICANT EVENTS IN THE ACTIVITIES OF THE DEKPOL CAPITAL GROUP IN THE III QUARTER OF 2018... 43 3.3.3 Factors and events, including of untypical nature, impacting substantially condensed consolidated financial statement... 49 3.3.4 Events after balance sheet date... 49 3.3.5 Transactions with affiliates... 54 3.3.6 Sureties and guarantees received and granted... 55 3.4 STANDPOINT OF MANAGEMENT BOARD REGARDING THE POSSIBILITY OF ACHIEVING PROJECTED RESULTS... 56 3.5 FACTORS WHICH MAY AFFECT ACHIEVED RESULTS IN PERSPECTIVE OF AT LEAST NEXT QUARTER... 57 3.6 Proceedings before a court, arbitration body or public administration authority... 58 3.7 Other significant information necessary for evaluation of DEKPOL capital group s position... 58 3.8 Indicators... 59 3.9 Contact... 59 3

1. CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS 1.1 SELECTED CONSOLIDATED FINANCIAL DATA Specification I. Net revenue from sales of products, goods, and materials thounsand PLN 01.01.2018-30.09.2018 thounsand PLN 01.01.2017-30.09.2017 thounsand EUR 01.01.2018-30.09.2018 thounsand EUR 01.01.2017-30.09.2017 571 807 358 654 134 432 84 258 II. Profit (loss) on operating activity 34 669 34 225 8 151 8 040 III. Profit (loss) before tax 28 929 30 945 6 801 7 270 IV. Net profit (loss) 22 198 24 497 5 219 5 755 V. Earnings (loss) per ordinary share (in PLN / EUR) VI. Net cash flows from operating activity VII. Net cash flows from investment activity VIII. Net cash flows from financial activity 2,65 2,93 0,62 0,69-61 346 1 534-14 422 360-17 891-6 454-4 206-1 516 80 472-30 741 18 919-7 222 IX. Total net cash flows 1 235-33 145 290-7 787 Wyszczególnienie thounsand PLN 31.09.2018 thounsand PLN 31.12.2017 thounsand EUR 31.09.2018 thounsand EUR 31.12.2017 X. Total assets 817 166 582 665 191 311 139 698 XI. Liabilities and provisions for liabilities 637 377 415 222 149 220 99 552 XII. Long-term liabilities 238 716 108 276 55 887 25 960 XIII. Short-term liabilities 398 661 306 946 93 333 73 592 XIV. Equity 179 789 167 443 42 091 40 146 XV. Share capital 8 363 8 363 1 958 2 005 XVI. Number of shares at the end of the 8 362 549 8 362 549 8 362 549 8 362 549 period XVII. Book value per share (in PLN / EUR) 21 20 5 5 4

Individual items of Condensed Interim Consolidated Statement of Financial Position, which have been presented in EUR currency, have been converted based on the average exchange rate set by the Polish National Bank for the day 30.09.2018 at 4,2714 PLN/EUR and for the day 31.12.2017 at 4,1709 PLN/EUR. Individual items of Condensed Interim Consolidated Financial Statement of Comprehensive Income and Condensed Interim Consolidated Cash Flow Statement have been converted into EUR based the arithmetic average of average exchange rates for EUR set by the Polish National Bank on the last day of each month of given period 01.01-30.09.2018 at 4,2535 PLN/EUR, and 01.01-30.09.2017 at 4,2566 PLN/EUR. 5

1.2 CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Item Note 01.01.- 30.09.2018 01.07.- 30.09.2018 01.01.- 30.09.2017 01.07.- 30.09.2017 Sales revenues 1.6.2 571 807 217 074 358 654 199 741 Costs of goods sold 1.6.3 506 870 195 921 299 453 161 347 Gross profit (loss) from sales 64 938 21 153 59 201 38 394 Selling costs 1.6.3 16 186 5 839 19 648 12 421 General administrative expenses 1.6.3 12 887 3 961 6 173 2 095 Other operating revenues 1.6.4 2 956 631 1 870 213 Other operating costs 1.6.5 4 152 51 1 026 97 Profit (loss) from operating activities 34 669 11 933 34 225 23 995 Financial revenues 1.6.6 159 55 205 177 Financial expenses 1.6.7 5 899 3 228 3 485 1 110 Share in profit (loss) in entities priced by ownership value menthod 0 0 0 0 Profit (loss) before tax 28 929 8 760 30 945 23 062 Income tax 1.6.8 6 731 1 572 6 448 4 889 Profit (loss) from continued operations 22 198 7 189 24 497 18 172 Net profit (loss) 22 198 7 189 24 497 18 172 Other net comprehensive income Comprehensive income falling to non-controlling shareholders Comprehensive income falling to shareholders of parent entity 0 0 0 0 0 0 0 0 22 198 7 189 24 497 18 172 6

1.3 CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION Item Note 30.09.2018 31.12.2017 Fixed assets 191 909 162 646 Property, plant and equipment 77 239 53 462 Intangible assets 309 195 Goodwill 0 0 Investment properties 95 608 98 941 Stocks and shares 1 700 0 Receivables 5 218 3 912 Other long-term financial assets 2 065 1 260 Long-term deferred charges 0 0 Deferred income tax assets 9 769 4 875 Current assets 625 257 420 019 Inventory 1.6.9 294 032 242 320 Receivables due to contracts with clients 76 316 91 Trade receivables and other receivables 1.6.10 188 517 113 964 Other short-term financial assets 0 0 Short-term deferred charges 3 634 2 121 Cash and cash equivalent 62 758 61 523 including cash on escrow accounts 37 458 31 784 Assets classified as held for sale 0 0 Assets in total 817 166 582 665 7

Item Note 30.09.2018 31.12.2017 Equity 179 789 167 443 Basic capital 8 363 8 363 Equity from sales of shares over its nominal value 26 309 26 309 Other equities 152 949 141 070 Own shares (-) 0 0 Exchange differences on conversion -3-17 Profits saved: -7 830-8 282 Equity falling to shareholders of parent entity 179 788 167 443 Non-controlling shares 1 1 Long-term liabilities 238 716 108 276 Deferred income tax provision 15 440 4 830 Liabilities and provisions on employee benefits 59 59 Other long-term provisions 0 0 Long-term credits, borrowings and debt instruments 1.6.11 194 007 78 849 Other long-term financial liabilities 8 277 6 690 Other long-term liabilities 20 934 17 847 Short-term liabilities 398 661 306 946 Liabilities and provisions on employee benefits 4 4 Other short-term provisions 6 188 9 572 Short-term credits, borrowings and debt instruments 1.6.11 56 751 67 070 Other short-term financial liabilities 7 762 4 707 Liabilities due to contracts with clients 50 183 Trade liabilities and other liabilities 1.6.12 321 059 218 186 Receivables from future terms 6 847 7 226 Liabilities connected to assets intended for sale 0 0 Liabilities in total 817 166 582 665 8

1.4 CONDENSED INTERIM CONSOLIDATED CASH FLOW STATEMENT Item 01.01.- 30.09.2018 01.01.- 30.09.2017 Profit (loss) before tax 28 929 30 945 Adjustments: 15 263 6 128 Depreciation 5 706 3 602 Change of fair value of investment properties 0 0 Profit (loss) from sales of non-financial tangible assets 0-302 Profit (loss) on the sale of financial assets (other than derivatives) -164 0 Profits (losses) from foreign exchange differences 0 0 Interests and shares in profits 9 721 2 828 Other adjustments 0 0 Change of working capital -106 359-32 328 Changes in stocks -46 706-42 281 Changes in receivables -152 086-25 404 Changes in liabilities 91 978 31 407 Changes of provisions and deferred charges 441 3 950 Other adjustments 14 0 Income tax from profit before taxation -6 730-6 448 Income tax paid 7 552 3 237 Net cash from operating activities -61 346 1 534 Expenses related to acquisition of intangible assets -604-327 Inflows from sales of intangible assets 0 0 Expenses related to acquisition of property, plant and equipment -15 020-6 917 Inflows from sales of property, plant and equipment 238 790 Expenses related to acquisition of investment properties 0 0 Inflows from sales of investment properties 0 0 Net expenses for the acquisition of subsidiaries -1 700 0 Repayments received from loans granted 0 0 Loans granted 0 0 Expenses related to acquisition of other financial assets -805 0 Inflows from sales of other financial assets 0 0 Net cash from investment activities -17 891-6 454 Net inflows from issue of shares 0 0 Acquisition of own shares 0 0 Inflows from issue of debt securities 127 477 22 000 9

Redemption of debt securities -41 776-82 340 Inflows from loans and borrowings taken out 46 505 74 316 Repayment of loans and borrowings -26 352-38 920 Repayment of liabilities under finance lease -4 879-1 801 Interest paid -10 635-3 996 Dividends paid -9 868 0 Inflows from received grants 0 0 Other inflows (expenses) from investment activities 0 0 Net cash from investment activities 80 472-30 741 Change in net cash and cash equivalents without foreign exchange differences Change in cash and cash equivalents due to foreign exchange differences 1 235-35 661 0 0 Change in net cash and cash equivalents 1 235-35 661 Cash and cash equivalents at the beginning of the period 61 523 65 617 Cash and cash equivalents at the end of the period 62 758 29 956 Including cash of limited disposal right 37 458 24 903 10

1.5 CONDENSED INTERIM STATEMENT IN CHANGES IN CONSOLIDATED EQUITY For period 01.01-30.09.2018 Item Common equity Equity from sale of shares over its nominal value Reserve capital from retained earnings Other equities Not divided retained earnings The capital of noncontrolling shareholders Exchange differences on the conversion of subordinated entities Balance as at beginning of period 8 363 26 309 141 070 0-8 282 1-17 167 443 Error correction of previous years 0 0 0 0 0 0 0 0 Balance at the beginning of period after changes 8 363 26 309 141 070 0-8 282 1-17 167 443 Issue of shares 0 0 0 0 0 1 0 1 Dividends 0 0 0 0-9 868 0 0-9 868 Transfer of financial result to capital 0 0 11 879 0-11 879 0 0 0 Transactions with owners in total 0 0 11 879 0-21 747 1 0-9 867 Other total comprehensive income 0 0 0 0 0 0 14 14 Net profit (loss) 0 0 0 0 22 198 0 0 22 198 Comprehensive income 0 0 0 0 22 198 0 14 22 213 Balance at the end of period 8 363 26 309 152 949 0-7 830 1-3 179 789 Total 11

For period 01.01-31.12.2017 Item Common equity Equity from sale of shares over its nominal value Reserve capital from retained earnings Other equities Not divided retained earnings The capital of noncontrolling shareholders Exchange differences on the conversion of subordinated entities Balance as at beginning of period 8 363 26 309 136 599 0-32 357 0 0 138 914 Error correction of previous years 0 0 0 0 0 0 0 0 Balance at the beginning of period after changes 8 363 26 309 136 599 0-32 357 0 0 138 914 Issue of shares 0 0 0 0 0 1 0 1 Dividends 0 0 0 0-4 432 0 0-4 432 Transfer of financial result to capital 0 0 4 472 0-4 472 0 0 0 Transactions with owners in total 0 0 4 472 0-8 904 1 0-4 432 Other total comprehensive income 0 0 0 0 0 0-17 -17 Net profit (loss) 0 0 0 0 32 979 0 0 32 979 Comprehensive income 0 0 0 0 32 979 0-17 32 961 Balance at the end of period 8 363 26 309 141 070 0-8 282 1-17 167 443 Total 12

1.6 ADDITIONAL INFORMATION TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENT 1.6.1 PREPARATION RULES OF INTERIM CONDENSED SEPARATE FINANCIAL STATEMENT Interim condensed financial statement of the Dekpol Capital Group for 3 and 9 months ended 30 th of September 2018 has been prepared in accordance with International Accounting Standards and International Financial Reporting Standards and related interpretations announced in the form of regulations of European Commission (hereinafter referred to as IFRS). Interim condensed financial statement of the Dekpol Capital Group for 3 and 9 months ended 30 th of September 2018 has been prepared under assumption of continuation of business by the Company in the foreseeable future. Statement presents financial position of Dekpol Capital Group as of 30 th of September 2018 and 31 st of December 2017, results achieved with the Group s operations and cash flow for the period of 3 and 9 months ended 30 th of September 2018 and 30 th of September 2017. The accounting principles (policies) used to prepare the interim condensed consolidated financial statement are consistent with those applied to the preparation of the interim consolidated financial statements of the Group for the first half of 2018. Other new or changed standards and interpretations do not have a significant impact on the interim condensed consolidated financial statements of the Group for the nine months ended 30 th of September 2018. The Management Board of the Company has decided to change the Group's accounting policy regarding the recognition of cash held on escrow accounts, which are supervised by banks and are subject to release as the property development works progress. So far, the Group has not disclosed these cash and related advance payments from customers in the statement of financial position, being guided by limitations in exercising control over this asset. Considering the common market practice, according to which funds on escrow accounts are recognized in the statement of financial position and statement of cash flows and IFRS 15 regarding disclosure of obligations under concluded contracts with customers, it was decided to change the accounting policy and disclose cash for escrow accounts as assets - restricted cash in correspondence with advance 13

payments from Customers presented in liabilities. Comparability of data for comparative periods was ensured. The changes in comparative data resulting from the change in accounting policy with respect to previously published financial statements were presented in the interim condensed financial statements of the Dekpol Capital Group and the interim condensed separate financial statements of Dekpol SA. The change in the accounting policy does not affect the value of the financial result and equity. 14

Correction of published reports Consolidated financial statement Assets Item published 31.12.2017 corrections after correction Fixed assets 162 646 Property, plant and equipment 53 462 Intangible assets 195 Goodwill 0 Investment properties 98 941 Stocks and shares 0 Receivables 3 912 Other long-term financial assets 1 260 Long-term deferred charges 0 Deferred income tax assets 4 875 Current assets 388 235 31 785 420 019 Inventory 242 320 Receivables due to contracts with clients 91 Trade receivables and other receivables 113 965 Other short-term financial assets 0 Shares In Open Investment Funds 0 Short-term deferred charges 2 121 Cash and cash equivalent 29 738 31 785 61 523 including cash on escrow accounts 0 31 785 31 785 Assets classified as held for sale 0 Assets in total 550 881 31 785 582 665 15

Consolidated financial statement - Liabilities Item published 31.12.2017 Equity 167 443 Basic capital 8 363 Equity from sales of shares over its nominal value 26 309 Other equities 141 070 Own shares (-) 0 Exchange differences on conversion -17 Retained earnings: -8 282 Equity falling to shareholders of parent entity 167 443 Non-controlling shares 1 Long-term liabilities 108 276 Deferred income tax provision 4 830 Liabilities and provisions on employee benefits 59 Other long-term provisions 0 Long-term credits, borrowings and debt instruments 78 849 Other long-term financial liabilities 6 690 Other long-term liabilities 17 847 corrections after correction Short-term liabilities 275 162 31 785 306 946 Liabilities and provisions on employee benefits 4 Other short-term provisions 9 572 Short-term credits, borrowings and debt instruments 67 070 Other short-term financial liabilities 4 707 Liabilities due to contracts with clients 183 Trade liabilities and other liabilities 186 402 31 785 218 186 Receivables from future terms 7 226 Liabilities connected to assets intended for sale 0 Liabilities in total 550 881 31 785 582 665 16

Consolidated financial statement Cash flow statement Item Data Publisher on 30.09.2017 Profit (loss) before tax 30 945 Adjustments: 6 128 Depreciation 3 602 Change of fair value of investment properties Profit (loss) from sales of non-financial tangible assets Profit (loss) from sales of financial assets (other than derivatives) Profits (losses) from foreign exchange differences 0-302 Interests and shares in profits 2 828 Other corrections 0 0 0 corrections after correction Change in working capital -29 812-2 516-32 328 Change in inventory -42 281 Change in receivables -25 404 Change in liabilities 33 923-2 516 31 407 Change in provisions and accruals 3 950 Other corrections 0 Income tax from profit before taxation - 6 448 Income tax paid 3 237 Net cash from operating activities 4 050-2 516 1 534 Expenses related to acquisition of intangible assets -327 Inflows from sales of intangible assets 0 Expenses related to acquisition of property, plant and equipment Inflows from sales of property, plant and equipment Expenses related to acquisition of investment properties -6 917 790 Inflows from sales of investment properties 0 Repayments received from loans granted 0 Loans granted 0 0 Expenses related to acquisition of other financial assets Inflows from sales of other financial assets 0 Net cash from investment activities -6 454 17

Net inflows from issue of shares 0 Aquisiton of own shares 0 Inflows from issue of debt securities 22 000 Redemption of debt securities -82 340 Inflows from loans and borrowings taken out 74 316 Repayment of loans and borrowings -38 920 Repayment of liabilities under finance lease -1 801 Interest paid -3 996 Dividends paid 0 Inflows from grants received 0 Other inflows (expenses) from financial activities Net cash from financial activities -30 741 Change in net cash and cash equivalents without exchange differences Change in cash and cash equivalents due to exchange differences 0-33 145-2 516-35 661 Net change in cash and cash equivalents -33 145-2 516-35 661 Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period 0 38 198 27 419 65 617 5 053 24 903 29 956 Including cash of limited disposal right 723 24 180 24 903 1.6.2 OPERATING SEGMENTS Revenues, result and other in the reporting period Item Sales revenues in total Revenues from external clients Operating expenses in total Other operating revenues Other operating expenses General contracting Property development Production of steel structures and accessories Other Exclusions Total 377 949 100 740 53 761 39 358 571 807 423 534 94 649 53 761 39 358 611 302 350 152 95 419 48 642 41 729 535 942 0 0 0 2 956 2 956 0 0 0 4 152 4 152 Operating result 27 797 5 321 5 119-3 567 34 669 Financial revenues 0 0 0 159 159 18

Financial expenses 0 0 0 5 899 5 899 Income tax 0 0 0 6 731 6 731 Net result 27 797 5 321 5 119-16 038 22 198 Revenues, result and other in previous reporting period Item Sales revenues in total Revenues from external clients Operating expenses in total Other operating revenues Other operating expenses General contracting Property development Production of steel structures and accessories Other Exclusions Total 180 365 115 597 37 543 33 949 0 367 455 180 365 115 597 37 543 33 949 0 367 455 171 195 102 204 32 685 29 325 0 335 409 0 0 0 1 870 0 1 870 0 0 0 1 026 0 1 026 Operating result 9 171 13 393 4 858 5 468 0 32 890 Financial revenues 0 0 0 205 0 205 Financial expenses 0 0 0 3 484 1 3 485 Income tax 0 0 0 5 913 282 6 195 Net result 9 171 13 393 4 858-3 724-283 23 416 1.6.3 COSTS OF MAJOR OPERATING ACTIVITIES Item 01.01.-30.09.2018 01.01.-30.09.2017 Costs by type 595 498 331 515 Depreciation 5 724 3 609 Consumption of materials and energy 200 287 87 359 Outsourced services 322 130 198 256 Taxes and fees 1 968 1 253 Remunerations 24 587 13 982 Employee benefits 6 919 2 817 Other costs by type 5 327 4 125 Cost of goods and materials sold 28 556 20 114 Movements in the balance of products -54 303 4 176 Own work capitalized -5 254-10 417 Selling costs -16 186-19 648 General administrative expenses -12 887-6 173 19

Own selling cost 506 870 299 453 1.6.4 OTHER OPERATING REVENUES Item 01.01.-30.09.2018 01.01.-30.09.2017 Profit on disposal of non-financial fixed assets 234 302 Re-invoicing 0 0 Pricing of investment properties to fair value 0 0 Release of provisions 0 0 Penalties and compensations 1 634 951 Grants 380 410 Expired liabilities 0 0 Scrap yield 0 0 Bonus from turnover 0 0 inventory surpluses 0 0 Other titles 482 166 Impairment losses on inventories reversal in period (-) 0 33 Impairment losses on receivables reversal in period (-) 227 9 Other operating revenues 2 956 1 870 1.6.5 OTHER OPERATING COSTS Item 01.01.-30.09.2018 01.01.-30.09.2017 Loss on disposal of non-financial fixed assets 0 0 Pricing of investment properties to fair value 0 0 Creation of reserves 0 0 Costs related to acquisition of subsidiaries 0 0 Costs of gap s removal and scrapping 107 3 Donations 1 631 101 Bonus from turnover 0 0 Inventory deficits 0 0 Write-downs 0 0 Contractual penalties 0 0 Other titles 604 346 Damages to properties 19 23 Court fees 0 0 20

Re-invoicing costs 0 0 Compensations 199 100 Impairment losses on inventories creation in the period 0 365 Impairment losses on receivables creation in the period 1 593 88 Other operating costs 4 152 1 026 1.6.6 FINANCIAL REVENUES Item 01.01.-30.09.2018 01.01.-30.09.2017 Interests 158 187 Surplus of positive exchange differences over the negative ones 0 17 Reversal of write-offs 0 0 Profit from sale of financial assets 0 0 Dividends 1 0 Other financial revenues 0 0 Financial revenues 159 205 1.6.7 FINANCIAL EXPENSES Item 01.01.-30.09.2018 01.01.-30.09.2017 Interests 5 205 3 485 Surplus of negative exchange differences over the positive ones 694 0 Loss from sale of financial assets 0 0 Write-offs 0 0 Other financial expenses 0 0 Financial expenses 5 899 3 485 1.6.8 INCOME TAX Item 01.01.-30.09.2018 01.01.-30.09.2017 Current income tax 1 113 9 227 Current income tax for reporting period 1 113 9 227 Current income tax for previous periods covered in financial result 0 0 Deferred income tax 5 618-2 779 Deferred tax creation and reversal of temporary 0 0 21

differences (+) Deferred income tax settlement of unused tax losses 170 0 Deferred tax creation and reversal of temporary differences (-) -5 448 2 779 Income tax 6 731 6 448 1.6.9 INVENTORIES Item 30.09.2018 31.12.2017 Materials balance value 44 752 21 959 Goods balance value 1 376 1 084 Semi-finished products and work in progress balance value 6 975 2 226 Finished products balance value 412 26 Premises under construction balance value 187 347 139 002 Finished premises balance value 53 169 78 024 Inventories 294 032 242 320 1.6.10 TRADE RECEIVABLES AND OTHER RECEIVABLES item 30.09.2018 31.12.2017 Net receivables due to contracts with clients 139 630 70 745 Trade receivables before revaluation write-off 143 856 73 546 Write-offs at the end of the period (-) 4 226 2 801 Current tax income 1 825 4 Receivables from dividends - short-term 0 0 Receivables on account of other taxes, customs duties and social insurance 8 851 14 581 Deposits due to valuation of construction agreements balance value 15 323 16 695 Write-offs at the end of the period (-) 207 207 Deposits due to valuation of construction agreements before revaluation write-off 15 530 16 902 Deposits from other titles 0 0 Receivables and advance payments balance value 11 744 10 692 Write-offs at the end of the period (-) 383 408 Receivables and advance payments before revaluation write-off 12 127 11 100 Other receivables balance value 11 146 1 272 Write-offs at the end of the period (-) 0 0 Other receivables value before revaluation write-off 11 146 1 272 22

Trade receivables and other receivables 188 517 113 989 1.6.11 FINANCIAL INSTRUMENTS Financial instruments assets Item 30.09.2018 31.12.2017 Stocks and shares in affiliates and jointly controlled entities 1 700 0 Receivables valued in nominal value 193 735 117 876 Trade receivables and other receivables 188 517 113 964 Receivables from dividends - short-term 0 0 Loans and receivables 2 065 1 260 Stocks and shares in subsidiaries 0 0 Financial assets evaluated at fair value through financial result 0 0 Cash and cash equivalents 62 758 61 523 Financial assets available for sale 0 0 Financial assets held to maturity 0 0 Financial assets 260 259 180 659 Financial instruments liabilities Item 30.09.2018 31.12.2017 Liabilities evaluated at fair value through financial result 0 0 Liabilities evaluated at nominal value 341 993 236 033 Liabilities evaluated at depreciated cost 279 102 157 315 Financial liabilities 621 095 393 348 Loans and borrowings Loans and borrowings as of 30.09.2018 Long-term Loan mbank10/033/18/z/ob Loan SGB- Bank.OBRKK/12/2017/63280 Loans and borrowings total long-term Short-term Loan ING 891/2017/00000901/00 Loan value Balance Currency 10 682 1 777 PLN 30 000 30 000 PLN Interest rate WIBOR 1M + margin WIBOR 3M + margin Date of repayment 29.11.2019 31.12.2020 31 777 - - - 5 000 2 650 PLN WIBOR 1M + margin 16.01.2019 23

Loan mbank 10/032/18/Z/OB Loan Santander K01263/17 12 540 0 PLN 6 000 0 PLN WIBOR 1M + margin WIBOR 1M + margin 30.09.2019 21.12.2018 Borrowing 6 530 6 530 PLN Fixed rate 31.12.2018 Loan BGŻ BNP PARIBAS WIBOR 3M + 3 000 0 PLN WAR/4100/15/348/CB margin 08.12.2018 Loan BGŻ BNP PARIBAS WIBOR 3M + 14 000 9 187 PLN WAR/4100/15/348/CB margin 08.12.2018 WIBOR O/N+ 14 000 12 860 PLN Loan mbank.10/020/17/z/vv margin 03.04.2019 Loan SGB-Bank WIBOR 3M + 20 000 14 103 PLN OBRKK/6/2018/72360 margin 07.06.2019 Loan BS Wschowa WIBOR 1M + 18 000 18 000 PLN 164/IWS/2018 margin 19.08.2019 other 677 Loans and borrowings total short-term 64 007 - - - Loans and borrowings as of 31.12.2017 Long-term Loan mbank 10/020/17/Z/VV Loan SGB-Bank OBRKK/12/2017/63280 Loans and borrowings total long-term Short-term Loan Millennium 10536/17/475/04 Loan ING 891/2017/00000901/00 Loan value Balance Currency 14 000 13 955 PLN Interest rate WIBOR O/N+ margin Date of repayment 03.04.2019 30 000 30 000 PLN WIBOR 3M + margin 31.12.2020 43 955 - - - 5 000 4 532 PLN WIBOR 3M + margin 18.05.2018 5 000 3 409 PLN WIBOR 3M + margin 16.01.2018 Loan Santander K01263/17 6 000 5 690 PLN WIBOR 1M + margin 21.12.2018 Borrowing 6 530 6 530 PLN Fixed rate 31.12.2018 Loan BGŻ BNP PARIBAS WAR/4100/15/348/CB 3 000 2 952 PLN WIBOR 3M + margin 08.12.2018 Loan BGŻ BNP PARIBAS WAR/4100/15/348/CB 14 000 8 477 PLN WIBOR 3M + margin 08.12.2018 other 83 83 Loans and borrowings total 31 673 - - - short-term 24

Bonds nominal value Bonds as of the end of reporting period 30.09.2018 Long-term Value Balance Currency Interest rate Date of repayment Bonds series DA 15 000 15 000 PLN WIBOR 6M+ margin 30.04.2021 Bonds series DB 20 000 20 000 PLN WIBOR 6M+ margin 30.04.2021 Bonds series F1 17 000 10 224 PLN WIBOR 3M + margin 04.01.2022 Bonds series F2 8 000 8 000 PLN WIBOR 3M + margin 04.01.2022 Bonds series F3 9 000 9 000 PLN WIBOR 3M + margin 04.01.2022 Bonds series G 76 880 76 880 PLN WIBOR 6M+ margin 08.03.2021 Bonds series H 15 000 15 000 PLN WIBOR 6M+ margin 08.03.2021 Bonds total long-term 154 104 - - - Short-term 0 0 PLN - - Bonds total short-term 0 - - - Bonds as of the end of reporting period 31.12.2017 Long-term Value Balance Currency Interest rate Date of repayment Bonds series DA 15 000 15 000 PLN WIBOR 6M+ margin 30.04.2021 Bonds series DB 20 000 20 000 PLN WIBOR 6M+ margin 30.04.2021 Bonds total long-term 35 000 - - - Short-term Bonds series D 35 000 35 000 PLN WIBOR 3M + margin 16.10.2018 Bonds total short-term 35 000 - - - 1.6.12 TRADE LIABILITIES AND OTHER LIABILITIES Item 30.09.2018 31.12.2017 Trade liabilities 148 930 97 485 Liabilities due to remunerations 1 428 973 Liabilities due to current income tax 14 5 502 Liabilities due to other taxes, duties and social securities 11 601 2 747 Short-term received bails 9 737 8 032 Prepayments and deposits received for supplies 149 159 102 965 Other short-term liabilities 190 432 Trade and other liabilities 321 059 218 135 25

2. CONDENSED INTERIM SEPARATE FINANCIAL STATEMENT 2.1 SELECTED SEPARATE FINANCIAL DATA Item thousand of PLN 01.01.2018-30.09.2018 thousand of PLN 01.01.2017-30.09.2017 thousand of EUR 01.01.2018-30.09.2018 thousand of EUR 01.01.2017-30.09.2017 I. Net revenue from sales of products, goods, and materials 605 900 355 569 142 447 83 534 II. Profit (loss) on operating activity 29 263 23 653 6 880 5 557 III. Profit (loss) before tax 16 685 20 375 3 923 4 787 IV. Net profit (loss) 16 169 15 953 3 801 3 748 V. Earnings (loss) per ordinary share (in PLN / EUR) VI. Net cash flows from operating activity VII. Net cash flows from investment activity VIII. Net cash flows from financial activity 1,93 1,91 0,45 0,44-47 199-4 720-11 097-1 109-36 101-2 088-8 487-491 79 722-30 741 18 743-7 222 IX. Total net cash flows -3 578-37 549-841 -8 822 Wyszczególnienie thousand of PLN 30.09.2018 thousand of PLN 31.12.2017 thousand of EUR 30.09.2018 thousand of EUR 31.12.2017 X. Total assets 857 602 632 381 200 778 151 617 XI. Liabilities and provisions for liabilities 656 350 437 431 153 662 104 877 XII. Long-term liabilities 242 605 128 907 56 798 30 906 XIII. Short-term liabilities 413 745 308 524 96 864 73 971 XIV. Equity 201 251 194 950 47 116 46 741 XV. Share capital 8 363 8 363 1 958 2 005 XVI. Number of shares at the end of the period 8 362 549 8 362 549 8 362 549 8 362 549 XVII. Book value per share (in PLN / EUR) 24 23 6 6 26

Individual items of Condensed Interim Separate Statement of Financial Position, which have been presented in EUR currency, have been converted based on the average exchange rate set by the Polish National Bank for the day 30.09.2018 at 4,2714 PLN/EUR and for the day 31.12.2017 at 4,1709 PLN/EUR. Individual items of Condensed Interim Separate Financial Statement of Comprehensive Income and Condensed Interim Separate Cash Flow Statement have been converted into EUR based the arithmetic average of average exchange rates for EUR set by the Polish National Bank on the last day of each month of given period 01.01-30.09.2018 at 4,2535 PLN/EUR, and 01.01-30.09.2017 at 4,2566 PLN/EUR. 2.2 CONDENSED INTERIM SEPARATE STATEMENT OF COMPREHENSIVE INCOME Item 01.01.- 30.09.2018 01.07.- 30.09.2018 01.01.- 30.09.2017 01.07.- 30.09.2017 Sales revenues 605 900 229 321 355 569 198 582 Costs of goods sold 542 040 208 356 298 704 160 752 Gross profit (loss) from sales 63 859 20 964 56 865 37 829 Selling costs 22 011 5 814 27 938 17 587 General administrative expenses 11 312 3 509 6 118 2 475 Other operating revenues 2 462 528 1 870 213 Other operating costs 3 735 14 1 026 97 Profit (loss) from operating activities 29 263 12 156 23 653 17 884 Share in profit (loss) in entities priced by ownership value method 0 0 0 0 Financial revenues 13 082 12 978 205 233 Financial expenses 25 660 15 467 3 483 1 166 Profit (loss) before tax 16 685 9 668 20 375 16 951 Income tax 516 1 471 4 421 3 676 Profit (loss) from continued operations 16 169 8 197 15 953 13 275 Net profit (loss) 16 169 8 197 15 953 13 275 Exchange differences on the conversion of foreign operations 0 0 0 0 Other net comprehensive income 0 0 0 0 Comprehensive income 16 169 8 197 15 953 13 275 27

2.3 CONDENSED INTERIM SEPARATE STATEMENT OF FINANCIAL POSITION Item 30.09.2018 31.12.2017 Fixed assets 262 718 200 951 Property, plant and equipment 77 099 53 467 Investment properties 5 171 8 504 Intangible assets 309 195 Stocks and shares 163 124 128 780 Receivables 5 218 3 912 Other long-term financial assets 2 065 1 256 Long-term deferred charges 0 0 Assets due to deferred income tax 9 731 4 837 Current assets 594 884 431 430 Inventory 231 868 233 018 Receivables due to contracts with clients 76 316 3 920 Trade receivables and other receivables 227 273 131 970 Other short-term financial assets 89 77 Shared In Open Investment Funds 0 0 Short-term deferred charges 2 570 2 102 Cash and cash equivalent 56 766 60 344 Including cash on escrow accounts 34 256 31 784 Assets classified as held for sale 0 0 Assets in total 857 602 632 381 28

item 30.09.2018 31.12.2017 Equity 201 251 194 950 Share capical 8 363 8 363 Equity from sales of shares over its nominal value 26 309 26 309 Other equities 150 410 139 674 Own shares (-) 0 0 Profit (loss) from previous years 0-166 Current result 16 169 20 770 Long-term liabilities 242 605 128 907 Deferred income tax provision 20 214 14 916 Liabilities and provisions on employee benefits 59 59 Other long-term provisions 0 0 Long-term credits, borrowings and debt instruments 194 007 90 279 Other long-term financial liabilities 8 277 6 690 Other long-term liabilities 20 050 16 963 Short-term liabilities 413 745 308 524 Liabilities and provisions on employee benefits 4 4 Other short-term provisions 8 699 9 572 Short-term credits, borrowings and debt instruments 56 751 55 640 Other short-term liabilities 7 610 4 707 Liabilities due to contracts with clients 0 0 Trade liabilities and other liabilities 333 858 231 400 Receivables from future terms 6 823 7 202 Liabilities connected to assets intended for sale 0 0 Liabilities in total 857 602 632 381 29

2.4 CONDENSED INTERIM CASH FLOW STATEMENT item 01.01.- 30.09.2018 01.01.- 30.09.2017 Profit (loss) before tax 16 685 20 375 Adjustments: 34 580 6 128 Depreciation 5 657 3 602 Change of fair value of investment properties 0 0 Profit (loss) from sales of non-financial tangible assets 0-302 Profit (loss) from sales of financial assets (other than derivatives) 19 215 0 Profits (losses) from foreign exchange differences 0 0 Interests and shares in profits 9 708 2 828 Change of working capital -104 152-28 905 Income tax from profit before taxation -516-4 421 Income tax paid 6 204 2 104 Net cash from operating activities -47 199-4 720 Expenses related to acquisition of intangible assets -604-327 Inflows from sales of intangible assets 0 0 Expenses related to acquisition of property, plant and equipment -14 826-6 917 Inflows from sales of property, plant and equipment 238 790 Expenses related to acquisition of investment properties 0 0 Inflows from sales of investment properties 0 0 Net inflows from sales of subsidiaries 0 0 Net expenses relate to acquisition of subsidiaries -20 087-25 Repayments received from loans granted 0-45 Expenses related to acquisition of other financial assets -809 0 Inflows from sales of other financial assets 0 4 Loans granted -53 0 Interest received 40 0 Dividends received 0 4 432 Net cash from investment activities -36 101-2 088 Net inflows from issue of shares 0 0 Inflows from issue of debt securities 127 337 22 000 Other inflows (expenses) from financial activities 0 0 Inflows from received grants 0 0 Redemption of debt securities -41 776-82 340 Inflows from loans and borrowings taken out 46 505 74 316 30

Repayment of loans and borrowings -26 352-38 920 Repayment of liabilities under finance lease -4 879-1 801 Interest paid -11 245-3 996 Dividends paid -9 868 0 Net cash from financial activities 79 722-30 741 Change in net cash and cash equivalents -3 578-37 549 Cash and cash equivalents at the beginning of the period 60 344 65 425 Cash and cash equivalents at the end of the period 56 766 27 876 Including cash of limited disposal right 34 256 23 440 31

2.5 CONDENSED INTERIM SEPARATE STATEMENT OF CHANGES IN EQUITY Data for period 01.01 30.09.2018 Item Balance at the beginning of the period Share capital Capital from the sale of shares above their nominal value Reserve capital from retained earnings Other capitals Unallocated retained earnings The capital of noncontrolling shareholders Exchange differences on the conversion of subordinated entities 8 363 26 309 139 674 0 20 604 0 0 194 950 Error corrections of previous years 0 0 0 0 0 0 0 0 Issue of shares 0 0 0 0 0 0 0 0 Transfer of financial result to capital 0 0 10 737 0-10 737 0 0 0 Dividends 0 0 0 0-9 868 0 0-9 868 Total transactions with the owners 0 0 10 737 0-20 604 0 0-9 868 Other total net income 0 0 0 0 0 0 0 0 Net profit (loss) 0 0 0 0 16 169 0 0 16 169 Total income 0 0 0 0 16 169 0 0 16 169 Balance at the end of the period 8 363 26 309 150 410 0 16 169 0 0 201 251 Total 32

Data for period 01.01 31.12.2017 Item Balance at the beginning of the period Share capital Capital from the sale of shares above their nominal value Reserve capital from retained earnings Other capitals Unallocated retained earnings The capital of noncontrolling shareholders Exchange differences on the conversion of subordinated entities 8 363 26 309 135 202 0 8 738 0 0 178 612 Error corrections of previous years 0 0 0 0 0 0 0 0 Issue of shares 0 0 0 0 0 0 0 0 Transfer of financial result to capital 0 0 4 472 0-4 472 0 0 0 Dividends 0 0 0 0-4 432 0 0-4 432 Total transactions with the owners 0 0 4 472 0-8 904 0 0-4 432 Other total net income 0 0 0 0 0 0 0 0 Net profit (loss) 0 0 0 0 20 770 0 0 20 770 Total income 0 0 0 0 20 770 0 0 20 770 Balance at the end of the period 8 363 26 309 139 674 0 20 604 0 0 194 950 Total 33

2.6 ADDITIONAL INFORMATION TO CONDENSED INTERIM SEPARATE FINANCIAL STATEMENT 2.6.1 RULES FOR PREPARING AN INTERIM CONDENSED SEPARATE FINANCIAL STATEMENT Interim condensed separate financial statement of Dekpol S.A. for the period of 3 and 9 months ended 30 th of September 2018 was prepared in accordance with International Accounting Standards and International Financial Reporting Standards and related interpretations announced in the form of European Commission regulations (hereinafter referred to as IFRS). Interim condensed separate financial statement of Dekpol S.A. for the period 3 and 9 months ended 30 th of September 2018 was prepared assuming that the Company would continue as a going concern in the foreseeable future. The report presents the financial situation of Dekpol S.A. as at 30 th of September 2018 and 31 st of December 2017, the results achieved on the operations of the Company and cash flows for the periods of 3 and 9 months ended 30 th of September 2018 and 30 th of September 2017, respectively. The accounting principles (policies) used to prepare the interim condensed financial statements are consistent with those applied to the preparation of the interim financial statements of Dekpol S.A. for the first half of 2018. Other new or amended standards and interpretations have no significant impact on the interim condensed financial statements of Dekpol S.A. for the nine months ended 30 th of September 2018. 34

3. ADDITIONAL INFORMATION TO EXTENDED CONSOLIDATED REPORT FOR 3 RD QUARTER 2018 OF DEKPOL CAPITAL GROUP 3.1 INFORMATION ABOUT DEKPOL CAPITAL GROUP 3.1.1 BUSINESS ACTIVITIES The principal activities of the DEKPOL Capital Group are as follows: General Contracting in terms of industrial, warehousing, commercial and service facilities, including external infrastructure, such as roads, yards, parking lots including their infrastructure; property development - construction, finishing works and sale of flats, apartments and premises for commerce/services; Production of equipment for construction machines. 3.1.2 STRUCTURE OF DEKPOL CAPITAL GROUP As of 30 th of September 2018 and as at publication date of this report Dekpol Capital Group is composed of Dekpol S.A. as the parent entity and fifteen subsidiaries: Direct subsidiaries Dekpol S.A.: 1) Dekpol 1 Sp. z o.o. - general partner DEKPOL 1 Sp. z o.o. SKA 2) Dekpol 1 Sp. z o.o. S.K.A. - is responsible in DEKPOL Group for subsidiaries management, established for execution of specialized tasks and intangible and intellectual assets in DEKPOL Capital Group, 3) Dekpol Inwestycje Sp. z o.o. general partner of special-purpose vehicles executing particular real-estate development investments in Dekpol Capital Group (Dekpol Inwestycje Sp. z o.o. Pastelowa Sp.k.; Dekpol Inwestycje Sp. z o.o. Rokitki Sp.k.; Dekpol Inwestycje Sp. z o.o. Development Sp. k., Dekpol Inwestycje Sp. z o.o. Braniborska Sp. k., Dekpol Inwestycje Sp. z o.o. Myśliwska Sp. k.), 35

4) Dekpol Pszenna Sp. z o.o. general partner of special-purpose vehicle (SPV) to execution of real-estate development investment at Pszenna Street in Gdańsk, 5) UAB DEK LT Statyba company established to support the Company's operations in Lithuania, as well as to manage future contracts in the General Contractor implemented in Lithuania. 6) Smartex Sp. z o. o. - owner of a plot of land in Wrocław at Braniborska street, where the Company, together with a natural person who owns 37.7% of shares in Smartex, intends to jointly implement a development project. Dekpol S.A. holds 62.3% shares in Smartex and the right to acquire 37.7% shares in Smartex. A special purpose vehicle was established for the implementation of the investment - Dekpol Inwestycje Sp. z o.o. Braniborska Sp. k. 7) Betpref Sp. z o.o. a company established to ensure the continuity of deliveries of precast concrete products used in the performance of contracts in general contracting. Indirect subsidiaries of Dekpol S.A. (through Dekpol 1 Sp. z o.o. S.K.A.): 1) Dekpol Royalties Sp. z o.o. - the Company responsible in DEKPOL Capital Group for brand management in the context of its image and product promotion, 2) Almond Sp. z o.o. - the Company and owner of real-estate property in Gdańsk at Toruńska Street (Hotel Almond). Indirect subsidiaries of Dekpol S.A. (through Dekpol Inwestycje Sp. z o.o.): 1) Dekpol Inwestycje Sp. z o.o. Pastelowa Sp.k. (former Dekpol Inwestycje Sp. z o.o. Na Fali Sp.k.) special-purpose vehicle (SPV) to execution of real-estate development investment under the name Pastelowa in Gdańsk, 2) Dekpol Inwestycje Sp. z o.o. Rokitki Sp.k. spółka celowa do realizacji inwestycji deweloperskich w Rokitkach i Śliwinach koło Tczewa, 3) Dekpol Inwestycje Sp. z o.o. Development Sp. k. special purpose vehicle to carry out smaller development investments, including in Jurata and Hel. 4) Dekpol Inwestycje Sp. z o.o. Braniborska Sp. k. a special purpose vehicle for the implementation of a development investment in Wrocław. 5) Dekpol Inwestycje Sp. z o.o. Myśliwska Sp. k. a special purpose vehicle for the implementation of a development investment under the name Foresta in Gdańsk. 36

Indirect subsidiaries of Dekpol S.A. (through Dekpol Pszenna Sp. z o.o.): 1) Dekpol Pszenna Sp. z o.o. Sp.k. a special purpose vehicle for the implementation of a development investment under the name Grano Residence in Gdańsk at Pszenna street. Dekpol S.A. holds 100% shares in Dekpol 1 Sp. z o.o., UAB DEK LT Statyba, Dekpol Inwestycje Sp. z o.o., Dekpol Pszenna Sp. z o.o. and Betpref Sp. z o.o. and 100% of shares in Dekpol 1 Sp. z o.o. S.K.A. Dekpol 1 Sp. z o.o. S.K.A. holds 100% shares in companies Dekpol Royalties Sp. z o.o. and Almond Sp. z o.o. Dekpol Inwestycje Sp. z o.o. is limited partner of: Dekpol Inwestycje Sp. z o.o. Pastelowa Sp.k.; Dekpol Inwestycje Sp. z o.o. Rokitki Sp.k.; Dekpol Inwestycje Sp. z o.o. Development Sp. k., Dekpol Inwestycje Sp. z o.o. Myśliwska Sp. k., with 0.5% interest in profits in these companies, and Dekpol S.A. has a 99.5% share in profits. being a limited partner of these companies. Dekpol Inwestycje Sp. z o.o. is limited partner of Dekpol Inwestycje Sp. z o.o. Braniborska Sp. k., with 0.1% share in profits in this company, and 49.9% share in profits has Dekpol S.A. being a limited partner of this company. Dekpol Pszenna Sp. z o.o. is limited partner of Dekpol Pszenna Sp. z o.o. Sp.k. having in this company a 0.5% share in profits, while Dekpol S.A. being a limited partner of this company owns 99.5% of profit participation, with the proviso that the profit to be divided among Dekpol Group companies is reduced by PLN 500, attributable to the other limited partner of the company. All above mentioned Companies fall under full-method consolidation. In addition, from 12 th of April 2018, Dekpol S.A. held 50% of shares in Nordic Milan Sp. z o.o. On 5 th of October 2018 (event after the balance sheet date) Dekpol S.A. acquired a further 50% of shares in this company, and therefore currently holds 100% shares in Nordic Milan Sp. z o.o. The company operates in the property development industry - it owns a land property in Milanówek, where the property development project is implemented (the Issuer was the general contractor of this investment, and in connection with the purchase of shares, this investment was included in the projects implemented by the Dekpol Capital Group). Member of the Management Board of Dekpol S.A. Mr. Sebastian Barandziak is the President of the Management Board of this company. In the third quarter of 2018, the company was accounted for using the equity method as a jointly controlled company, and starting from the fourth quarter, the company will be subject to full consolidation. After the balance sheet date, two subsidiaries of Dekpol S.A. were entered into the National Court Register: Dekpol Inwestycje Sp. z o.o. Grano Resort Sp. k. and Dekpol Deweloper Sp. z o.o.,, more details can be found in point 3.1.3 of this report. 37

In regards to the above, as at the date of publication of this report (i.e, on 28 th of November 2018), the Dekpol Capital Group consists of Dekpol S.A. as the parent company and eighteen subsidiaries. 3.1.3 CHANGES IN THE STRUCTURE OF DEKPOL CAPITAL GROUP IN THE 3 RD QUARTER OF 2018 AND AFTER THE BALANCE SHEET DATE On 2 nd of August 2018, Betpref Sp. z o.o. was entered into the National Court Register. The purpose of the creation is to ensure the continuity of deliveries of precast concrete products used in the performance of contracts in general contracting segment. 100% shares in the company belong to Dekpol S.A. On 5 th of October 2018, Dekpol S.A. has concluded with Eco Milan Sp. z o.o. an agreement to purchase 50% shares in Nordic Milan Sp. z o.o. Detailed information on the acquisition of shares can be found in section 3.3.4 of this report. On 14 th of November 2018, the company Dekpol Inwestycje Sp. z o.o. Grano Resort Sp. k. was entered into the National Court Register. The goal is to implement a property development investment in Gdańsk on the Sobieszewska Island. Dekpol Inwestycje Sp. z o.o. Grano Resort Sp. k. is an indirect subsidiary of Dekpol S.A. through Dekpol Inwestycje Sp. z o.o., which is its general partner with 0.5% share in profits, and 99.5% share in profits has Dekpol S.A. being a limited partner of this company. On 19 th of November 2018 Dekpol Deweloper Sp. z o.o. was entered into the National Court Register. The purpose of the creation is the planned separation of the organized part of the enterprise of Dekpol S.A. covering the property development activity and transferring it in kind to Dekpol Deweloper Sp. z o.o.. Dekpol Deweloper Sp. z o.o. is a direct subsidiary of Dekpol SA, which holds 100% of shares. 3.2 GENERAL INFORMATION ABOUT THE PARENT ENTITY DEKPOL S.A. 3.2.1 COMPANY BODIES Management Board The Issuer s Management Board is composed of one or more Members appointed and removed from office by the Supervisory Board. The Supervisory Board entrusts one of the Members of the Management Board with the function of the President of the Management Board. Other Members of the Management Board may be entrusted with the function of Vice Presidents of the Management Board. The term of office of the Members of the Management Board is 5 (five) years and is not joint. 38

As at 30 th of September 2018 and as at the date of publication of this report, the Issuer's Management Board is composed of: Name and surname Function Mariusz Tuchlin Michał Skowron Sebastian Barandziak Andrzej Kuchtyk Rafał Dietrich President of Management Board (CEO) Vice President of Management Board Member of Management Board Member of Management Board Member of Management Board The term of office of Sebastian Barandziak will expire on 1 st of March 2022. Michał Skowron's term of office expires on 1 st of January 2023. The term of office of other members of the Management Board will expire on 1 st of April 2019 Changes in the composition of the Company's Management Board in the third quarter of 2018 On 10 th of August 2018, the Company received the resignation of Mr. Krzysztof Łukowski from the position of the Vice-President of the Management Board of the Company with effect on 31 st of August 2018. Supervisory Board Supervisory Board consists of five to seven members. Vocation, as well as dismissal of members of Supervisory Board follows through resolution of General Meeting of Shareholders. This body elects the Chairman of Supervisory Board, may also entrust the function of Vice-president to another member. The term of office of Supervisory Board members takes 5 years and cannot be joint. As at 30 th of March 2018 and as at the date of publication of this report, the Issuer's Supervisory Board consists of: Name and surname Roman Suszek Wojciech Sobczak Jacek Grzywacz Grzegorz Wąsacz Jacek Kędzierski Function Chairman of Supervisory Board Member of Supervisory Board Member of Supervisory Board Member of Supervisory Board Member of Supervisory Board 39