Earnings release
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ONE TOWER Et. 16, Calea Floreasca 165, Sector 1, 014459, Bucureș9, România +4031 225 1000 office@one.ro www.one.ro ONE United Proper/es S.A. Sediul social: Str. Maxim Gorki 20, Sector 1, 011952, Bucureș9 J2007021705402 To: the Bucharest Stock Exchange the Financial Supervisory Authority, Financial Instruments and Investments Sector CURRENT REPORT NO. 04/2026 Pursuant to Law no. 24/2017 on issuers of financial instruments and market operations and to the Romanian Financial Supervisory Authority Regulation no. 5/2018 on issuers and operations with securities, as subsequently amended and supplemented and the provisions of Article 99 of the Bucharest Stock Exchange Code, Title II, Issuers and Financial Instruments. Report date: 06.02.2026 Name of the issuer: One United Properties S.A. Registered office: 20 Maxim Gorki Street, District 1, Bucharest, Romania Registration no. Trade Registry: J2007021705402 Sole registration code: 22767862 Share Capital: RON 1,105,000,000 Total number of shares: 110,500,000 ordinary shares Symbol: ONE Market where securities are traded: Bucharest Stock Exchange, Main Segment, Premium Category Important events to report: 2025 FY Trading Update One United Properties S.A. (hereinafter referred to as the “Company”) provides the market general and provisional information on the Company’s key performance indicators for the 12-month period ended December 31st, 2025. One United Properties will publish the preliminary 2025 financial results on February 27th, 2026, at 8:00 AM. The information provided in this trading update may be subject to change and may differ from the final numbers that will be presented in the financial report. Residential sales and pre-sales 577 apartments and commercial units with a total surface of 57,018 sqm, 768 parking spaces and other unit types were sold and pre-sold for a total of EUR 174.1 million in 2025. A year prior, in 2024, the Group sold and pre-sold 850 apartments and commercial units with a total surface of 83,958 sqm, 1,270 parking spaces and other units for a total of EUR 227.8 million. The 18% increase in the average sales price per sqm in 2025 versus 2024 continues the upward trend observed across the quarters of 2025 and was primarily driven by the sales mix, which consisted mainly of units in advanced stages of construction, such as One Lake District, One High District and One Lake Club. In Q4 2025, One United Properties launched sales at its new development, One Academy Club, and within the quarter alone the sales team pre-sold approximately half of the units available for sale. One Academy Club was the first new development to be launched since May 2024, as the Company’s focus in 2025 remained on selling the remaining units in developments nearing completion, supporting the higher average sales price per sqm.
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ONE TOWER Et. 16, Calea Floreasca 165, Sector 1, 014459, Bucureș9, România +4031 225 1000 office@one.ro www.one.ro ONE United Proper/es S.A. Sediul social: Str. Maxim Gorki 20, Sector 1, 011952, Bucureș9 J2007021705402 The 2025 pre-sales for developments under construction, together with the total number of units sold from the launch of the sales until December 31st, 2025, are as follows: Development Estimated delivery Units sold in 2025 Total units sold from construction start Total units developed Units available for sale One Lake District Phase 2 Q3 2027 132 471 867 396 One High District Q2 2026 98 729 841 112 One Academy Club Q4 2027 80 80 156 76 One Lake Club Phase 1 Q2 2026 77 381 600 219 One Lake District Phase 1 Q3 2026 33 699 790 91 One Floreasca Towers Q1 2026 26 182 215 33 One Herastrau Vista Q1 2026 11 105 119 14 One Peninsula Q3 2026 9 120 167 47 One Modrogan Q4 2026 4 37 48 11 One Athenee Q1 2026 0 10 10 0 TOTAL UNITS PRE-SOLD 470 2,814 3,813 999 As of December 31st, 2025, 74% of units under construction were already pre-sold, with 999 units being available in the sales team’s portfolio. The 2025 sales for developments that were finalized in the last 12 months are as follows: Development Finalized Units sold in 2025 Total units sold from construction start Total units developed Units available for sale One Lake Club Phase 2 Q3 2025 36 121 138 17 One North Lofts Q4 2025 31 105 151 46 One Mamaia Nord Phase 2 Q2 2025 3 64 86 22 TOTAL UNITS SOLD 70 290 375 85 Until 2025, the company has finalized 2,438 units in 12 developments, with a Gross Development Value (GDV) of EUR 660.3 million. Out of those units, the Company sold 37 units in 2025 in amount of EUR 24.7 million (including parking and storages) and 43 units in amount of EUR 45.8 million (including parking and storages) are still available for sale. Amounts to be received under contracts concluded with customers as of December 31st, 2025, are EUR 353.8 million in additional cash by 2028 (EUR 179 million in 2026, EUR 120.6 million in 2027 and EUR 54.2 million in 2028). EUR 152.4 million were collected in 2025 alone. These already contracted inflows support predictable cash generation over the next three years. To meet demand and capture interest in the premium residential segment of the market, the Company plans to expand the sales pipeline in 2026 with new launches, including units at future developments One City Club, One Cotroceni Towers and One Park Lane in Bucharest, One Mamaia Nord Phase 3 in Constanta and one new residential development in Sibiu. Please note that the total value of the residential sales as presented in this section does not include the pre-sales to early clients, which are low margin sales that helped finance land acquisition. These are units that the Group pre-sold to early clients at developments where construction did not begin. The total value of these sales in 2025 was EUR 26.5 million, vs EUR 16.9 million for 2024. Starting in 2026, these sales will no longer be possible due to legislative changes, and future land acquisitions will be
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ONE TOWER Et. 16, Calea Floreasca 165, Sector 1, 014459, Bucureș9, România +4031 225 1000 office@one.ro www.one.ro ONE United Proper/es S.A. Sediul social: Str. Maxim Gorki 20, Sector 1, 011952, Bucureș9 J2007021705402 financed either through own funds or by attracting minority investors into the companies that will develop those specific plots of land. Commercial lease status The headline rent for the rental portfolio for 2025 was EUR 29.1 million, a 4% increase compared to 2024. The lease status across the commercial portfolio as of December 31st, 2025, is presented below: Development Status Delivery/ Acquisition GLA % Leased / Pre-leased % Tenants moved One Tower Developed 2020 24,073 100% 100% One Cotroceni Park 1 Developed 2022 47,001 96% 90% Bucur Obor Acquired 2022 25,215 92% 87%1 One Victoriei Plaza Acquired 2022 12,000 100% 100% One Cotroceni Park 2 Developed 2023 35,797 100% 81% Eliade Tower Acquired 2022 7,860 87% 87% TOTAL CURRENT LEASE PORTFOLIO 151,946 97% 90% One Gallery In development 2025 14,845 68% n/a One Technology District In development 2026 21,514 100% n/a Mondrian Hotel In development 2026 6,447 100% n/a NOTE: 1Due to the refurbishment process at Bucur Obor, some spaces are intentionally left unoccupied to allow the temporary relocation of certain essential operators while necessary renovations are being conducted inside the building. Consequently, the space is considered occupied. In 2025, One United Properties leased and pre-leased 13,720 sqm of office and retail spaces across the commercial portfolio. Moreover, the Company signed multiple lease extensions for a total area of 23,032 sqm. Development As of December 31st, 2025, One United Properties had under construction a total of 3,655 units, 45,500 sqm of office and commercial spaces with a total Gross Development Value (GDV) of over EUR 1.4 billion. In 2025, One United Properties finalized 138 units at One Lake Club Phase 2, 86 units at One Mamaia Nord Phase 2 and 151 units at One North Lofts. One Herastrau Vista and One Floreasca Towers will be finalized in Q1 2026. Landbank As of December 31st, 2025, One United Properties had in ownership or under pre-SPA 504.1k sqm of land locations for further development, with total above-ground gross building rights (GBA) of over 1.3 million sqm. All these land plots are currently in the planning phase, with estimated GDV of additional EUR 2.7 billion. The Group estimates the construction of over 11,000 apartments, services for communities, and 106k sqm of rental commercial buildings on these plots of land. Out of the commercial buildings, 99k sqm will host offices and the remaining 7k sqm will be the Hoxton Hotel, located within buildings that will undergo restoration. Executive Member of the Board of Directors Victor Capitanu