Slides
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1 Confidential Murapol Group15 September 2026 Investor presentation financial data for 1H 2026 Wrocław
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2 Confidential Nikodem IskraCEO Iwona SrokaMarketing, PR, IR & ESGPrzemysław KromerCFO Presenting todayMurapol Management Board
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3 Confidential Total sales of 1,569 units (1,330under development contracts and preliminary contracts, and an additional239 paid reservation agreements). In 1H 2026 43% of customers paid cash and 57% took out mortgagesLevel of handovers in line with projections:841 units 2345 One of the biggest landbanks on the market, with a capacity for construction of 19,151units in 18 cities Most diversified offer on the market, including 4,051 units in 15 cities Portfolio of projects under construction: 7,489 units in 12 cities,including 6,541 in R4Ssegment Number of units introduced into the offering: 1,023 units in 5 cities (Warsaw, Łódź, Wrocław, Toruń, Siewierz) 67 Summary of 1H 2026 Revenues reached nearly PLN 465.7 million, netprofit nearly PLN 70.1 million1
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4 Confidential Łódź About the Group
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5 Confidential MurapolGroup •One of the largest and most experienced residential developers in Poland•The most geographically diversified portfolio of development projects in Poland•Product offering in the broadest and most absorptive segment of the residential property market, i.e. affordable and affordable premium•One of the biggest active landbanks in the industry•Complementary business building units for institutional rental sector (PRS and PBSA) in the design & build formula PoznańWarsaw WrocławŁódź KrakówGliwiceSiewierz Sosnowiec GdańskBydgoszcz Toruń Tychy Lublin Rzeszów SzczecinOlsztyn Bielsko-Biała Gdynia KielceCzęstochowa KatowiceChorzów WieliczkaMikołów Projects completed, under construction, and in the pipelinePotential new locations 25 yearspresence on the residential market 21 citieswith MurapolGroup developments as of 30 June 2026
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6 Confidential Two complementary segments •Affordable product highly resilient to macroeconomic fluctuations•Addressing the broadest spectrum of customers•Proven product strategy Affordable product Attractive location in promising districts of cities High value for price and location PRS •100% complementary to resi-for-sale àno cannibalization•Attractive risk-return profile àguaranteed off-take•Regular cash inflows•Limited equity requirement –construction costs forward-funded by PRS investor Possibility of building on plots zoned for servicesFramework agreements governing off-take of premises by:-LifeSpot –PRS platform belonging to funds managed byAres-PRS JV Lux S.À R.L –PRS platform controlled by CenterbridgePartners and Griffin Capital PartnersUltra-low saturation of PRS market in Poland PRS segment generating significant incremental cash in addition to core resi-for-sale business Resi-for-sale Sales are carried out in two operating segments: Wrocław Gdańsk
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7 Confidential 23,8%38,1%18,8%8,9%10,4% <35 m235-45 m245-55 m255-60 m2>60 m2 c. 45,0 m2average area of apartments sold in 1H 2024 – 1H 2026 Katowice Lublin Product targeted to the broadest group of customersApartments in the affordable and affordable premium segments as of 30 June 2026 Structure of apartment sales by gross price (PLN ’000)Apartments priced below PLN 600,000 constituted about 76% of MurapolGroup’s total sales Sales structure by floor area of apartments (m2)Most popular 2-room apartments, 35–45 m2 Most popular 3-room apartments, 45–55 m2 4,7% 22,7%28,2%20,3%11,5%12,6% <300300-400400-500500-600600-700>700
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8 Confidential Examples of projects by the groupA presence in all main agglomerations Wrocław Gdańsk Kraków Łódź Warsaw Katowice
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9 Confidential Examples of projects by the groupAttractive offer in regional cities GliwiceBielsko-Biała Toruń Lublin Toruń Bydgoszcz
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10 Confidential WarszawaMurapol | 1H 2026
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11 Confidential Situation on the residential developers’ market 1H 2026 Change in average salary vs. inflation (CPI)rising consumer purchasing power No. of mortgage loans granted (left-hand scale, ’000) Value of mortgages loans granted (right-hand scale, PLN billion) source: Eurostat No. and value of mortgage loans granted in Poland 0%5%10 %15 %20 % sty .2 1kwi.21lip.21paź.21sty .2 2kwi.22lip.22paź.22sty .2 3kwi.23lip.23paź.23sty .2 4kwi.24lip.24paź.24sty .2 5kwi.25lip.25paź.25sty .2 6kwi.26Zmiana przecię tn ego wynagrodzenia w sektorze przedsi ębiorstw (r/ r)CPI (%)Change in average salary in the enterprise sector (y/y) 0 5 10 15 010203040 sty.21kw i.21li p.21paź. 21sty.22kw i.22li p.22paź. 22sty.23kw i.23li p.23paź. 23sty.24kw i.24li p.24paź. 24sty.25kw i.25li p.25paź. 25sty.26kw i.26 •Stabilization of the residential market after the revival observed at the beginning of the year. According to JLL, in the 2ndquarter of 2026 developers sold over 11,800 apartments in the seven biggest markets, i.e. 8.4% fewer q/q but 12.7% more y/y•Smaller supply of relatively more affordable apartments–according to data from RynekPierwotny.pl, the number of apartments priced at up to PLN 15,000/sq m in Warsaw, Kraków, Wrocławand the Tricity, and up to PLN 12,000/sq m in Poznań, Łódźand the Silesian Agglomeration, declined over the past 12 months: by 23% in Poznańto 2.1k units, by 16% in Warsaw to 4.5k units, by 14% in Wrocławto 5.1k units, and by 2% in the Tricity to 3.4k units•Improved access to financing–lower mortgage interest rates, increased borrowing capacity and wage growth are potentially boosting buyers’ purchasing power. According to BIK, in H1 2026 banks granted housing loans worth PLN 74bn, representing an increase of 59.7% YoY. The number of mortgages granted increased by 48.0% YoY•Clear improvement in affordability of apartments. The modest increase in prices, accompanied by growth in salaries, brought the number of square metres that could be purchased for the average salary near historic highs•High level of supply of apartments increasing buyers’ selection. According to a JLL report, in the seven biggest cities a total of over 13,000 new apartments were introduced to the market in the 2ndquarter (+27.6% q/q), and over 70,000 units remain on offer (near record levels)•Cautious release of new supply by developers. With the high level of units on offer, it remains key to adjust the number of new projects to reflect the demand on specific markets Jan.21Apr.21Jul.21Oct.21Apr.22Jul.22Oct.22Jan.23Jul.23Oct.23Jan.24Jul.24Oct.24Jan.25Apr.25Jul.25Oct.25Jan.26Apr.26 Jan.21Apr.21Jul.21Oct.21Apr.22Jul.22Oct.22Jan.23Jul.23Oct.23Jan.24Jul.24Oct.24Jan.25Apr.25Jul.25Oct.25Jan.26Apr.26
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12 Confidential Key events in 1H 2026Stable sales and strong product line, in line with sales plans 1,023 unitsadded to the product line (R4S segment) 1,569 unitssold: 1,330: development and preliminary sale agreements239: paid reservation agreements 4,051 unitson offer at the end of June 2026 Wrocław
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13 Confidential 1H 2026 in numbers return on equity 33.1%1stmargin (R4Ssegment)43.1% units handed over to retail customers841(-11.7% y/y) premises sold1,330: development and preliminary sale agreements239: paid reservation agreements 1,569(-0.4% y/y) average net price per m2 of apartments sold** PLN 10,400(+7.2% y/y) sales revenuePLN 465.7madjusted EBITDA*PLN 104.8mnet profitPLN 70.1m net profit margin (R4Ssegment)15.1%*adjusted EBITDA—operating profit plus amortization, interest recognized in the cost of goods sold, and one-off or non-cash transactions Bielsko-Biała **price does not include parking place or storage unit •Lower results in 1H 2026, alongside continuing high GM1profitability, mainly due to the lower number of handovers year-on-year. Significantly faster pace of handovers expected in 2H 2026
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14 Confidential 1,330 development contracts and preliminary sale agreements 1,569units 239 paid reservation agreements Group’s total net sales to retail customers Sales of units in 1H 2026Comparable sales y/y •In 1H 2026 a total of 1,569 units were sold•1,330 units (vs. 1,403) were sold under development contracts and preliminary sale agreements, with an additional 239 units under paid reservation agreements •The most apartments in the R4S segment were sold in Łódź(241) Gdańsk (192), and Warsaw(169) Gdynia 86 Katowice 25 Chorzów 25 9,8%1,6%1,9%14,4% 6,5% 1,9% 1,9% 5,9%3,2%18,1% 8,5% 2,4% 4,1% 2,8% 4,1%Kraków 79 Bydgoszcz 21 Gdańsk 192 Gliwice 57 Bielsko-Biała 131 Lublin 42 Wrocław 37Warsaw 169Toruń 55 Poznań 113 Siewierz 32 Łódź 241 Geographical structure of sales of units to retail customers(development contracts and preliminary sale agreements) Sosnowiec 251,33012,7%
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15 Confidential Handovers of units in 1H 2026Level of handovers in the retail segment linked with project timetables •The keys to841 units were handed over to retail customers•Increase in the average price of delivered units as of the end of 1H 2026 of 2.8%•In 1H 2026 the most units were handed over to customers in Poznań (315) and Gdańsk (185) •Number of completed units with an occupancy permit at the end of 1H 2026: 1,290, including 745 sold but not handed over and 545 available with an occupancy permit Bielsko-Biała 435,1%0,4%2,5%22,0% 2,1%16,5% 37,5% 0,1%4,8%1,3%4,3% Kraków 18 Bydgoszcz 3 Gdańsk 185 Warsaw 1 Poznań 315Siewierz 11 Geographical structure of deliveries of units to retail customers(development contracts and preliminary sale agreements) Sosnowiec 40 Łódź 139 Chorzów 21Toruń 36 Gliwice 29 Selected projects where units were handed over in 1H 2026 Murapol Havelia Murapol Mateczniq Murapol Osiedle Wolka Murapol Agosto Murapol Scarpa Poznań Kraków Chorzów Łódź Gdańsk Murapol Trzy LipkiBielsko-Biała
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16 Confidential Potential handovers in 2026 TotalUnits handed over in 2025 2,649Units handed over in 1H 2026 841Ready but not handed over units with occupancy permit at the end of 1Q 20261,290Projected no. of units with occupancy permit in 2026 1,996Potential handovers in 2026 4,097Projected no. of handovers in 2026 c. 3,000 Total number of units in projects, based on the anticipated number of occupancy permits
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17 Confidential 515,3436,7392,768,892,773,0 1H 20241H 20251H 2026 1295952841 1H 20241H 20251H 2026 Key financial data for 1H 2026 •The decline in revenue by 12% tracks the 12% lower level of handovers in 1H 2026 —an effect of the mid-year allocation of project timetables. Significant acceleration of handovers expected in 2H 2026•Decline in the average price of handed-over units in 1H 2026 of 2.8% (to PLN 465,900, as compared to PLN 453,200 in 1H 2025) PRS R4S Average net price of units sold(PLN ’000) average price per m2 (PLN ’000)* +7,2% -12% Handovers of units 529,4465,7-12% Sales revenue(PLNm) 584,1 Average size of units sold(m2) Results impacted by low level of handovers in 1H 2026 *price does not include parking place or storage unit 9,49,710,4415,3437,8466,5 1H 20241H 20251H 2026 44,645,444,2 1H 20241H 20251H 2026
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18 Confidential 199,6169,311,912,6 1H 20251H 2026 Key financial data for 1H 2026 R4S, GM1* EBITmargin Net profit margin GM1*(PLNm) -14% EBIT(PLNm) -30% Net profit(PLNm) -28%181,9211,5 R4SPRS * GM1—revenue from apartment sales contracts less costs for acquisition of land, direct materials, and direct labour (costs of subcontractors) •Lower results in 1H 2026 while maintaining high GM1 profitability mainly due to the low mid-year number of handovers. Handovers expected to pick up pace significantly in 2H 2026 118,982,9 1H 20251H 2026 96,970,1 1H 20251H 2026 45,7%43,1% 1H 20251H 2026 22,5%17,8% 1H 20251H 2026 18,3%15,0% 1H 20251H 2026
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19 Confidential 199,6169,311,912,6 1H 20251H 2026R4S, GM1* Adjusted EBITDA margin** Net profit margin GM1*(PLNm) -14% Net profit(PLNm) -28%181,9211,5R4SPRS Adjusted EBITDA**(PLNm) -25% Key financial data for 1H 2026 *GM1—revenue from apartment sales contracts less costs for acquisition of land, direct materials, and direct labour (costs of subcontractors)* *adjusted EBITDA—operating profit plus amortization, interest recognized in the cost of goods sold, and one-off or non-cash transactions •Lower results in 1H 2026 while maintaining high GM1 profitability mainly due to the low mid-year number of handovers. Handovers expected to pick up pace significantly in 2H 2026 18,3%15,0% 1H 20251H 2026 26,4%22,5% 1H 20251H 2026 45,7%43,1% 1H 20251H 2026 96,970,1 1H 20251H 2026 139,6104,8 1H 20251H 2026
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20 Confidential 0,860,911,13 646,0679,2724,2 40,746,032,1 1. 01.20231. 01.20241. 01.2025 321,0277,0253,3 86,493,8111,7 1. 01.20241. 01.20251. 01.2026 407,4 365,0370,8 686,7 756,3725,2 Group’s current financing structure 30.06.202430.06.202530.06.202630.06.202430.06.202530.06.2026 Cash position(PLNm) Debt(PLNm) cashandcashequivalentscash in escrow accountsbankcreditandbondsleasing*netdebt**net debt/adjusted EBITDA LTM*** * leasingas of 30 June 2026 concerns mainly the accounting valuation of the lease for the office in Bielsko-Biała** net debt calculated as bank credit and bonds less cash (including escrow accounts)*** EBITDA LTM—operating profit for the last 12 months plus amortization, interest recognized in the cost of goods sold, and one-off or non-cash transactions 238,6308,4359,3
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21 Confidential 150,0100,0321,043,0 43,043,0 100,0 2026202720282029 Corporate debt maturityRefinancing to be finalized by year-end Maturity of corporate debt after refinancing(PLNm) New facility of total PLN 550moPLN 300m bullet repayment in 2029oPLN 150m amortizedoPLN 100m RCF (to be drawn when needed)•Quarterly amortization of 10.7m•Margin compression expected by c. 70-80 bps BondsBank facilityRCF
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22 Confidential High level of product on offer, and strong landbank Size of offer Landbank *total number of units as of 31 December of each year**total number of units as of 30 June of each year •At the end of 1H 2026the Murapol offer included 4,051 units in 15cities: a presence in all key urban areas of Poland as well as regional cities•Number of units under construction: 7,489 in 24projects in 12 cities•Active landbank for construction of 19,151 unitsin18cities, with a combined net floor area of 808,800m2 3541461841744051 2023*2024*2025*1H 2026** 21029193441955819151 2023*2024*2025*1H 2026**
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23 Confidential •Apartments were added in Łódź (390), Wrocław (218) and Toruń (167)•In 1H 2026 1,023 residential units were introduced to the product line, in 5 cities Units added to the product line in 2025 One of the biggest offers on the market: 4,051 units at the end of June 2026 21,3%38,1% 16,3% 14,9% Structure of units added to the offer Łódź 390Warsaw 152Toruń 167 Siewierz 96 9,4% Wrocław 218 Projects introduced to the product line in 1H 2026 Murapol EcoOne Murapol RiverSide Murapol UniverCity Murapol Helio Warsaw Wrocław Łódź Toruń Murapol Siewierz JeziornaSiewierz
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24 Confidential Planned additions to product line through 4Q2026LocationUFA + GLA(m2)Residential units + commercial units(maximum potential)Gdańsk17,661520Gdynia 7,766180Gliwice 4,089 84Katowice8,446192Kraków 9,195199Lublin 10,646242Łódź 13,423390Poznań 5,355129Siewierz4,186 96Toruń 8,208167Tychy 9,975235Warsaw13,176281Wieliczka4,261 92Wrocław8,897218Total 2026125,285 3,025 •Ensuring a broad and appropriately diversified offer, suited to the sales dynamic•In full-year 2026 it is planned to introduce c. 3,000 units to the product line•In 1H 2026 1,023 residential units were added to the offer in 5 cities (Warsaw, Łódź, Wrocław, Toruń, Siewierz)
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25 Confidential Projects under construction at the end of 1H 2026 7,489units948 unitsunder construction in the PRS segment* High number of units under construction 5,6%6,541unitsunder construction in the R4Ssegment 3,3% *units under construction in the PRS segment are not counted toward the Murapol Group landbank (the land was sold to LifeSpot, and the Murapol Group acts as general contractor for PRS projects) •Number of units under construction: 7,489, with a total floor area of nearly 307,000 m2, in 99 buildings in 12cities•5,974 units (over 80%) built in major urban areas •The most units under construction are in Gdańsk(1,697) Łódź(1,607) and Wrocław(698) 1,6% 22,7% 3,0%6,0% 7,6% 21,5%8,9% 5,4%2,4% 9,3% Bydgoszcz 123Gdańsk1 697 Kraków 670Łódź1 607 Wrocław698 Toruń405 Units under construction, by city Lublin 567 Gdynia 228Katowice 448 Warsaw 626 Siewierz180 Bielsko-Biała240
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26 Confidential 948units948 units (100%) planned for completion in 2027 Projects under constructionHigh number of units being built •Number of ready units with occupancy permit at the end of 1H 2026: 1,290, including 745 units sold but not handed over and 545 available units with an occupancy permit Projects under construction in R4Ssegment Projects under construction in PRSsegment 6,541units1,966 units (30%) planned for completion in 2026 2,732 units (42%) planned for completion in 2027 1,560 units (24%) planned for completion in 2028 283 units (4%) planned for completion in 2029
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27 Confidential 2,6%1,5%3,8% 6,5% 13,4% 3,4%2,0%6,5%20,6% 0,7% 3,9% 25,0% 2,2% Projects in the pipeline at the end of 1H 2026 Attractive and well-diversified portfolio of pipeline projects •12,430 units in the pipeline, with a combined floor area of nearly 522,000 m2, in 16cities •Strong landbank in Warsaw, with a capacity for 3,459 units, Poznań (2,462), and Katowice(1,600)•Share of major urban areas in R4S projects in the pipeline: 76% 100,0%Warsaw 981* Units in the pipeline by city—PRS segment 981units*11,964units1,4% 4,3% 2,1% Gliwice 775Katowice 1,600Kielce 412 Częstochowa 449Wrocław267 Warsaw 2,993 Poznań2,462Siewierz172 Łódź780 Tychy 464 Bielsko-Biała316 Lublin 242 Units in the pipeline by city—R4S segment Gdańsk513Gdynia 180 Kraków 251 Wieliczka88 * including 466 units covered by the landbank and 515 units in the pipeline for PRS on land not included in the landbank
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28 Confidential PRS segment complementing R4S business COMPLETEDLocation Residential unitsGdynia 168Łódź 1,035*Katowice266Kraków 1,097Warsaw 276Wrocław244Total 3,086 UNDER CONSTRUCTIONLocationResidential unitsGdańsk 948Total 948 IN THE PIPELINE LocationResidential unitsWarsaw 981**Total 981 * including 361 units in student housing data as of 30 June 2026 •Completed units: 3,086•Units under construction: 948 •Units in the pipeline: 981 ** including 466 units covered by the landbank and 515 units in the pipeline for PRS on land not included in the landbank
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29 Confidential Summary Wrocław
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30 Confidential Total sales of 1,569 units (1,330under development contracts and preliminary contracts, and an additional239 paid reservation agreements). In 1H 2026 43% of customers paid cash and 57% took out mortgagesLevel of handovers in line with projections:841 units 2345 One of the biggest landbanks on the market, with a capacity for construction of 19,151units in 18 cities Most diversified offer on the market, including 4,051 units in 15 cities Portfolio of projects under construction: 7,489 units in 12 cities,including 6,541 in R4Ssegment Number of units introduced into the offering: 1,023 units in 5 cities (Warsaw, Łódź, Wrocław, Toruń, Siewierz) 67 Summary of 1H 2026 Revenues reached nearly PLN 465.7 million, netprofit nearly PLN 70.1 million1
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31 Confidential Prospects for 2026 12 34 6 Estimated level of handovers in 2026: c. 3,000 units Spending on land in 2026: c. PLN 200m–300m 5PRS: 948 units under construction (as of 30June 2026) 6Plans to maintain strong product line in the affordable and affordable premium segments, as well as thestrategy of geographical diversification, with a growing share of large urban areas Maintaining the dividend policy described in the prospectus: earmarking for a dividend at least 75%of the consolidated net profit earned in the preceding financial year. In 2025 distribution of c. PLN 200m Total sales in the retail segment of c. 3,300 units (development agreements, preliminary sale contracts, and paid reservation agreements)
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32 Confidential Q3 2023 r. Thank you! Q&A Investor Relations contact:ir@murapol.pl
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33 Confidential AppendicesKraków
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34 Confidential 25 years of the Murapol Group AEREF V PL Investment S.à.r.l (now AEREF V PL Inwestycje sp. z o.o.) becomes the majority shareholder2020 Entry into the PRSsegmentBiggest total sales of all developers, over 4,500 units2021 2001Launch of businessin Bielsko-Biała 2023Debut on the MainMarket of the WSEPresence in19 cities 2025High level of offering— 4,174 units in 18 citiesActive landbank with a capacity for construction of over 19,600 units in 17 cities Gdańsk Lublin Łódź Kraków
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35 Confidential Split of credit vs. cash customers, along with sales volumes achieved in the R4S segment sales in the R4S segmentcredit transactionscash transactions Regional citiesc. 30%Major urban areas c. 70%GdańskGdyniaKatowiceKrakówŁódźPoznańWarszawaWrocław Bielsko-BiałaBydgoszczChorzówGliwiceLublinSiewierzSosnowiecToruńTychyWieliczka*estimated sales structure (by value), based on data for 1H 2023 – 1H 2026 R4S –Product line resilient to macro changes Sales structure* Murapolhas a strong offer, with a presence in all major urban areas, and also in regional cities 2783288929142856133020222023202420251H 2026 33% 64% 48%50%57%67%36%52%50%43%
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36 Confidential data as of 30 June 2026 •As of the end of 1H 2026 the portfolio of projects under construction included 7,489 units with a combined usable floor area of over 307,000m2, being erected in 99 buildings in 24 developments in 12 cities Projects under construction LocationProject No. of residential and commercial unitsUFA (residential and commercial units) (m2) Bielsko-BiałaGrażyńskiego (bud. 1)9,712 240BydgoszczMurapol Rivo (bud. 1)5,491 123GdańskŚląska (bud.1) [PRS]16,800 583 GdańskTwarda (bud.1) [PRS]11,521 365 GdańskMurapol Stoczniova (bud. 2) 12,558413GdańskMurapol Stoczniova (bud. 3) 11,332 336 GdyniaMurapol Osiedle Dynamiq (bud. 1, 2, 3, 4)10,409 228KatowiceMurapol Nowe Bogucice (bud. 1, 2 )10,488 251KatowiceMurapol Corfa (bud. 1, 2)9,104 197
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37 Confidential Projects under construction data as of 30 June 2026 LocationProject No. of residential and commercial unitsUFA (residential and commercial units) (m2) KrakówMurapol GreenCity (bud. 1,2)11,627 249 KrakówMurapol Prado (bud. 1, 2)10,525 222KrakówMurapol Prado (bud. 3)5,919 123KrakówMurapol Prado (bud. 5)3,276 76 LublinMurapol Primo III (bud. 1, 2)15,091 332 LublinMurapol LakeSide (bud. 1, 2)10,080 235 ŁódźMurapol Gardenia (bud. 1, 2)12,086 306 ŁódźMurapol Ergo (bud. 1)7,632 180 ŁódźMurapol Univercity (bud.1) 13,386 390 ŁódźMurapol Forum (bud. 1, 2)21,800 514 ŁódźMurapol Osiedle Filo II (bud.2)9,786 217 SiewierzMurapol Siewierz Jeziorna VIIIb (bud. 27,28)4,055 84 SiewierzMurapol Siewierz Jeziorna VIIIb (bud. 25,26)4,186 96
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38 Confidential Projects under construction data as of 30 June 2026 LocationProject No. of residential and commercial unitsUFA (residential and commercial units) (m2) ToruńMurapol Novo (bud. 1)11,059 238 ToruńMurapol Helio (bud. 1, 4) 8,208 167 WarsawMurapol EcoOne (bud. 1, 2a, 2b, 3)9,504 216 WarsawMurapol Urcity (bud. 1, 2)10,598 216 WarsawMurapol Urcity II bud. 3, 4)9,481 194 WrocławMurapol Motivo (bud. 1) 11,605 319 WrocławMurapol RiverSide (bud. 1, 2, 3)8,897 218 WrocławMurapol RiverSide (bud. 4) 2,060 65 WrocławMurapol Osiedle Ferrovia (bud. 1-12) 2,244 24 WrocławMurapol Osiedle Ferrovia II (bud. 13-21) 1,622 18 WrocławMurapol Osiedle Ferrovia III (bud. 22-30) 1,622 18 WrocławMurapol Osiedle Ferrovia IV (bud. 31-42) 2,141 24 WrocławMurapol Osiedle Ferrovia V (bud. 43-48) 1,109 12 Total 7,489307,015
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39 Confidential Projects in the pipeline •As of 30June 2026, in the MurapolGroup’s landbank there was a portfolio of pipeline projects including about 12,400 units with a combined usable floor area of over 521,000 m2, ensuring the continuity of its business for several years to come data as of 30 June 2026 LocationPlanned UFA (m2)Planned no. of unitsBielsko-Biała 14,186 316 Częstochowa18,479 449 Gdańsk 16,573 513 Gdynia 7,766 180 Gliwice 33,598 775 Katowice64,338 1,600 Kielce 17,868 412 Kraków 11,405 251 Lublin 10,646 242 LocationPlanned UFA (m2)Planned no. of unitsŁódź 30,363 780 Poznań 107,044 2,462 Siewierz 8,331 172 Tychy 19,905 464 Warsaw145,105 3,459 Wieliczka4,134 88 Wrocław11,567 267 Total 521,30712,430
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40 Confidential Projects introduced for sale in 1H 2026 •In 1H 2026 Murapol added 1,023 new unitsto its product line data as of 30 June 2026 LocationUnits introduced in 1Q 2026Units introduced in 2Q 2026Units introduced in 3Q 2026Units introduced in 4Q 2026Bielsko-Biała - -Bydgoszcz- -Gdańsk - -Gdynia - -Gliwice - -Katowice - -Kraków - -Lublin - -Łódź - 390Poznań - -Siewierz - 96Sosnowiec- -Toruń - 167Warsaw - 152Wrocław218 -Total 218 805
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41 Confidential What sets us apart? Proven stable sales results despite challenging macroeconomic conditionsLeading market position with highly supportive fundamentals Uniqueand vertically integrated business model—high cashflow, low engagement of equity, optimal margins 123High level of geographical diversification of projects and a large active landbank4Product offering focused on the broadest group of customers, in the most absorptive market segment5Cooperation with a leading investor in the complementary private rented sector (PRS) in the design & buildformula6
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42 Confidential Building Information ModellingBIM technology enables preparation of a precise bill of quantities, helping prevent conceptual mistakes, and defining the precise scope of work and materials needed Unit 94System of 94 standardized universal tasksfor every project, translating into precise planning, efficient budgeting and selection of subcontractors HVACSanitarysystems ArchitectureElectricalsystem Integrated business model •Effective land acquisition model•Payment of a large portion of the price deferred until a building permit is obtained Land acquisition •In-house architectural and engineering studio•Standardized buildings allow for lowering costs while maintaining optimal quality•Plug & Play business model facilitates scaling: expansion in existing and new locations Design & planning •Team responsible for general contracting•Standardized process divided into 94 tasks•In-house budgeting team•In-house materials supplier Construction •Network of 32 sales offices, enabling 53% of commercialization of projects through the group’s own distribution channels•Extensive, widespread external network Marketing & sales Unique, resilient business model Gdańsk data as of 30 June 2026
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43 Confidential In-house systems –a key element of operating proceduresUse of BIM and Unit94 enables standardization and efficiency of processes for project design, budgeting, and selection of subcontractors BIM technology enables preparation of a precise bill of quantities, helping prevent conceptual mistakes, and defining the precise scope of work and materials needed System of 94 standardized universal tasksfor every project, translating into precise planning, efficient budgeting and selection of subcontractors source: Company RoofHVACWindowsElectrical systemFaçadeMachine plasterCeilingsCold shellZero stateLand development Building Information Modelling HVACSanitary systemsArchitectureElectrical system Unit 94The BIM and Unit 94 technologies, used by Murapol and not by other developers, allow for high level of cost controls
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44 Confidential Profit and loss statement PLN ’000 30.06.2026 30.06.2025ChangeSales revenue 465,682529,396-12.0% Revenue from sales to retail customers392,653439,681-10.1% Revenue from sales to PRS 73,02992,715-21.2%Gross profit on sales 142,556176,390-19.2% Gross margin on sales 30.6%33.3%-2.7 p.p. EBIT 82,866118,889-30.3% EBITmargin 17.8%22.5%-4.7 p.p. Net profit 70,06196,857-27.7% Net profit margin 15.0%18.3%-3.3 p.p. data as of 30 June 2026
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45 Confidential Balance sheet Assets 30.06.202631.12.2025Non-current assets93,48694,595 Current assets2,600,8842,339,028Total assets2,694,3702,433,623 Liabilities30.06.202631.12.2025Equity attributable to shareholders of the parent company630,969640,954Total shareholders’ equity630,969640,954Long-term liabilities604,511739,400Short-term liabilities1,458,8901,053,269Total liabilities2,063,4011,792,669Shareholders’ equity and liabilities2,694,3702,433,623 PLN ’000 —as of 30 June 2026
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46 Confidential Shareholders ShareholderNo. of sharesCapitalHampont sp. z o.o.* 8,334,64420.4%Forum Euro Nieruchomości Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych* 5,559,20813.6%Nationale Nederlanden PTE**5,306,17813.0%Powszechne Towarzystwo Emerytalne PZU S.A.***2,519,5466.2%Norges Bank 2,079,8425.1%others 17,000,58241.7%Total 40,800,000100.0% Shares listed on the Warsaw Stock Exchange since 15 December 2023Indices: WIG, mWIG40, WIG140, WIG-nieruchomości, mWIG40TR, WIG-Poland, GPWB-CENTR, CEEplus, WIGdivplus data as of 30 June 2026 41.7% others 20.4% Hampont sp. z o.o.* 13.0% Nationale Nederlanden PTE**5.1% Norges Bank 13.6% Forum Euro Nieruchomości FIZ Aktywów Niepublicznych* 6.2% PTE PZU S.A.*** ***shareholding is stated in accordance with the notification of PTE PZU S.A. dated 8 June 2026. The total shareholding consists of shares held by the managed funds: Otwarty Fundusz Emerytalny PZU "Złota Jesień" (2,230,000 shares; 5.47% of votes) and Dobrowolny Fundusz Emerytalny PZU (289,546 shares; 0.71% of votes) ** shareholdings of Nationale-Nederlanden Powszechne Towarzystwo Emerytalne S.A. stated in accordance with notice dated 8 June 2026 andinclude shares held by Nationale-Nederlanden Otwarty Fundusz Emerytalny * Hampont sp. z o.o. and FORUM EURO NIERUCHOMOŚCI Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych (FEN FIZAN) are parties to an acting in concert agreement referred to in Article 87 section 1 point 5 of the Act on Public Offering. The combined shareholding of the parties to this agreement amounts to 13,893,852 shares, representing 34.05% of the share capital and the total number of votes at the General Meeting of the Company. Furthermore, Hampont sp. z o.o. is jointly indirectly controlled by Nebil Şenman and Maciej Dyjas – members of the Supervisory Board of Murapol S.A.
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47 Confidential Organizational culture and corporate governanceSolid governance structure aimed at effective and sustainable growth in value Creating value Compliance Balancing interestsCompliance with Best Practice for WSE-listed Companies Knowledge, experience, unique know-how•Integrated and motivated team of top-notch specialists in the industry•Inclusive workplace Supportive shareholders and independent decision-making•Experienced stakeholders with competences required for achieving strategic goals Effective and sustainable management structure•Experienced Management Board•Broad competences in real estate, law, finance, transactions, and capital markets•Women hold nearly 50% of management posts Experienced supervisory board•Highly experienced Supervisory Board with independent members ensuring protection of the interests of minority investors•Appointment of audit committee and investment committee and nominations and remuneration •Rules implemented for addressing potential conflicts of interest Up-to-date Code of Conduct•Internal policies addressing conflicts of interest•Appointment of ethics czar
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48 Confidential Legal disclaimer This presentation was prepared solely for informational purposes. It does not constitute an advertisement or offering of securities in public trading. Sources of information were used in the presentation which Murapol SA regards as reliable and precise, but there is no guarantee that they are exhaustiveand fully reflect the state of facts. This presentation may contain forward-looking statements, which constitute an investment risk or source of uncertainty and may differsignificantly from the actual results.MurapolSA shall not be liable for the effects of decisions taken on the basis of this presentation. The user bears sole responsibility.This presentation is protected under the Act on Copyright and Related Rights. It may not be duplicated, published or disseminated without the written consent ofMurapol SA.