FY 2020 financial and opartating results of Dom Development S.A. Capital Group - leading polish house builder

1. 2020 ANNUAL RESULTS
PRESENTATION
12 MARCH 2021
DOM DEVELOPMENT S.A. CONSOLIDATED GROUP

2. 2
CONTENTS
1. 2020 SUMMARY
1. GROUP RESULTS 3
2. MARKET IN 2020 4
2. OPERATIONAL PERFORMANCE
1. ANNUAL NET SALES 5
2. QUARTERLY NET SALES 6
3. NET SALES VALUE 7
4. SALES SEGMENTATION 8
5. OFFER 9
6. NEW CONSTRUCTION STARTS 10
7. UNITS UNDER CONSTRUCTION 11
8. LAND BANK – OWNED AND CONTROLLED 12
9. DELIVERIES 13
3. FINANCIAL RESULTS
1. PROFIT AND LOSS ACCOUNT 14
2. GROSS MARGIN ON SALES 15
3. PROFIT BEFORE TAX 16
4. ROE AND GEARING 17
5. CUMULATIVE NET SALES TO BE RECOGNIZED IN P&L 18
6. BALANCE SHEET 19
7. DEBT MATURITY STRUCTURE 20
8. CASH FLOW 21
9. DIVIDENDS 22
4. GROUP’S STRATEGY
1. DIVIDEND POLICY 23
2. CAPITAL MANAGEMENT PRIORITIES 24
5. APPENDICES
1. COMMENCEMENT OF HANDOVERS IN 2021 26
2. PROJECTS UNDER CONSTRUCTION AND IN PREPARATION:
a)WARSAW 27
b) TRI-CITY 28
c) WROCLAW 29

3. 3
1.1. 2020 RESULTS SUMMARY
• Fast, decisive reaction to COVID-19 pandemic contained risks and operational disruption
• Dom Development consolidated net income increased 18% YoY to PLN 302m or PLN 12.00 per share
• Consolidated revenues increased 9% to PLN 1.8bn
• Return on equity rose to 28%
• 3,756 units sold (+3% YoY), including a record-breaking Q4 2020 with 1,130 units sold
• Group’s market share increased on each of its markets to 12% in Warsaw and Tri-City, and 5% in Wroclaw
• Record number of new construction launches: 39 projects with over 4,000 units
• PLN 636m cash and no net debt as of 31.12.2020, despite payment of historically high, PLN 240m dividend
12 March 2021:
Recommendation of a record-high dividend from 2020 net income: PLN 10.00 per share, PLN 254m in total
Group’s market shares calculation was based on the JLL overall sales estimation for each market

4. 4
1.2. MARKET IN 2020
• Strong demand in all market segments
• Transaction prices grew, though at a slower pace compared to 2019
• Supply gradually decreased due to administrative delays, permit problems and land shortages
• Negative real interest rates on bank deposits and low debt servicing costs strongly supported
the housing market
• High mortgage availability and a positive impact of low interest rates on affordability
• Cash purchases continue to account for approx. 40% of the Group’s sales
• Favourable situation on the construction market

5. 5
2735
3975
3 602
3 661 3 756
2016 2017 2018 2019 2020
Warsaw Tri-City Wroclaw
2.1. ANNUAL NET SALES
INCREASES IN TRI-CITY AND WROCLAW VOLUMES, IN LINE WITH DIVERSIFICATION STRATEGY
Net sales (units) 2020 2019 Change
Warsaw 2 340 2 347 -
Tri-City 1 015 859 +18%
Wroclaw 401 455 (12)%
Dom Development
Group
3 756 3 661 +3%
No. of units

6. 6
2.2. QUARTERLY NET SALES
962
815 816
995
1 130
Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020
Warsaw Tri-City Wroclaw
No. of units
HISTORICALLY HIGH SALES IN Q4 2020
Net sales (units)
Q4
2020
Q4
2019
Change
Warsaw 659 593 +11%
Tri-City 345 251 +37%
Wroclaw 126 118 +7%
Dom Development
Group
1 130 962 +17%

7. 7
2.3. SALES VALUE
1 314
1 695 1 740
1 941
2 130
2016 2017 2018 2019 2020
Warsaw Tri-City Wroclaw
Net sales value
(PLN m)
2020 2019 Change
Warsaw 1 521 1 396 +9%
Tri-City 438 358 +22%
Wroclaw 172 187 (8)%
Dom Development
Group
2 130 1 941 +10%
SALES VALUE INCREASED BY 10% YOY WHILE VOLUME INCREASED BY 3%
PLN m

8. 8
2.4. SALES SEGMENTATION
STRONG POSITION IN THE UPPER-TIER SEGMENT OF THE MASS MARKET
21% 26% 21% 16% 16%
23%
29%
24%
22% 21%
24%
22%
24%
19% 19%
14%
10%
14%
18%
13%
18% 13% 17%
25% 31%
2016 2017 2018 2019 2020
up to PLN 350k PLN 350-450k PLN 450-550k PLN 550-650k over PLN 650k
Transaction
value
Warsaw Tri-City Wroclaw
over PLN 650k 41% 15% 11%
PLN 550-650k 16% 7% 8%
PLN 450-550k 22% 11% 20%
PLN 350-450k 17% 26% 34%
up to PLN 350k 4% 40% 27%
Average value
(PLN k)
685 453 460
Transaction value includes price of a flat with fit-out (if purchased), storage room (if purchased) and parking place (if purchased).
Group’s average transaction value in 2020:
PLN 598k

9. 9
2.5. OFFER
SIGNIFICANT OFFER INCREASE IN TRI-CITY AND WROCLAW, TEMPORARY DEPLETION IN WARSAW
2 506
2 979
2 896
2 255
2 482
31/12/2016 31/12/2017 31/12/2018 31/12/2019 31/12/2020
Warsaw Tri-City Wroclaw
No. of units
under
construction
90%
finished
10%
Offer as of 31.12.2020
Group’s offer
by location
31.12.
2020
31.12.
2019
Change
Warsaw 1 051 1 334 (21)%
Tri-City 1 017 564 +80%
Wroclaw 414 357 +16%
Dom Development
Group
2 482 2 255 +10%

10. 10
2.6. NEW CONSTRUCTION LAUNCHES
RECORD-HIGH LAUNCHES DESPITE ADMINISTRATIVE DIFFICULTIES
2887
3743
3598
3 034
4 054
2016 2017 2018 2019 2020
Warsaw Tri-City Wroclaw
No. of units
Construction Starts 2020 2019
H1 1 082 2 055
H2 2 972 979
Dom Development
Group
4 054 3 034
Project/phases launches in Q4 2020:
Warsaw:
Stacja Grochów phase 4 (159)
Wroclaw:
Osiedle Chociebuska 11 (196)
Osiedle Zielna phase 1 (160)
Tri-City:
DOKI – buildings A and B (227)
Montownia (116)
Perspektywa phase 2 (252)
Zielony Południk building14 (50)
Osiedle Beauforta phase 10 (32)

11. 11
2.7. UNITS UNDER CONSTRUCTION
3 543
5 221
4 413
4 718
5 298
31/12/2016 31/12/2017 31/12/2018 31/12/2019 31/12/2020
Warsaw Tri-City Wroclaw
No. of units
ALL CONSTRUCTION SITES ARE PROGRESSING ON TIME AND ON BUDGET
Units under
construction
31.12.
2020
31.12.
2019
Change
Warsaw 2 433 2 536 (4)%
Tri-City 2 044 1 419 +44%
Wroclaw 821 763 +8%
Dom Development
Group
5 298 4 718 +12%

12. 12
2.8. LAND BANK – OWNED AND CONTROLLED
Land Bank
(units to be developed)
Owned Controlled Total
Change
YoY
Warsaw 2 044 5 500 7 544 +12%
Tri-City 3 984 1 561 5 545 (9%)
Wroclaw 663 914 1 577 +12%
Dom Development
Group
6 691 7 975 14 666 +3%
LAND BANK SIZE AND STRUCTURE FACILITATE FURTHER AND EXPECTED GROUP GROWTH
7 609 7 876
6 691
4 702
6 339 7 975
12 311
14 215 14 666
2018 2019 2020
Owned Controlled
No. of units

13. 13
2.9. DELIVERIES
Deliveries in units 2020 2019 Change
Warsaw 1 807 2 798 (35)%
Tri-City 824 495 +66%
Wroclaw 375 189 +98%
Dom Development
Group
3 006 3 482 (14)%
FAVOURABLE STRUCTURE OF DELIVERIES – SIGNIFICANT SHARE OF APARTMENTS WITH HIGH VALUE AND MARGIN
2482
2929
3 632
3 482
3 006
2016 2017 2018 2019 2020
Warsaw Tri-City Wroclaw
No. of units

14. 14
3.1. PROFIT AND LOSS ACCOUNT
HISTORICALLY-HIGH RESULTS BY DINT OF MARGIN INCREASE AND COST CONTROL
Profit and Loss Account Q4 2020 Q4 2019 Change 2020 2019 Change
Sales Revenues 679.7 507.2 34% 1 815.0 1 661.7 9%
Handovers (units) 1 073 988 9% 3 006 3 482 (14)%
Revenue per unit (PLN’000) 633.4 513.4 23% 603.8 477.2 27%
Gross Profit on Sales 223.1 166.0 34% 578.8 500.1 16%
Gross Profit Margin 32.8% 32.7% 0.1 pp 31.9% 30.1% 1.8 pp
Operating Profit 158.5 108.5 46% 386.3 320.7 20%
Operating Profit Margin 23.3% 21.4% 1.9 pp 21.3% 19.3% 2.0 pp
Profit Before Tax 160.1 108.8 47% 378.6 320.5 18%
Profit Before Tax Margin 23.6% 21.4% 2.1 pp 20.9% 19.3% 1.6 pp
Net Profit 127.0 85.7 48% 302.2 256.0 18%
Net Profit Margin 18.7% 16.9% 1.8 pp 16.7% 15.4% 1.3pp
EPS (PLN) 5.04 3.42 47% 12.00 10.22 17%
IAS 15, PLN m

15. 15
3.2. GROSS MARGIN ON SALES
23,5%
27,5% 27,5%
30,1%
31,9%
0%
5%
10%
15%
20%
25%
30%
2016 2017 2018 2019 2020
CONSISTENT AND EFFECTIVE USE OF MARKET OPPORTUNITIES

16. 16
3.3. PROFIT BEFORE TAX
155,9
236,2
282,6
320,5
378,6
13,5%
16,8%
17,1%
19,3%
20,9%
0
100
200
300
400
2016 2017 2018 2019 2020
CONSOLIDATED PRE-TAX PROFIT MARGIN IMPROVED 160 BASIS POINTS TO 20.9% IN 2020
PLN m
108,8
161,5
21,4%
23,9%
0
50
100
150
Q4 2019 Q4 2020
PLN m

17. 17
3.4. ROE AND GEARING
HIGH RETURN ON EQUITY AND LOW DEBT
14,2%
20,5%
22,6%
24,5%
27,9%
-6%
6% 7%
14%
-23%
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
2016 2017 2018 2019 2020
ROE
annual net income
/ equity beginning balance
Gearing
net interest-bearing debt*
/ equity closing balance
*bonds and bank loans less cash
(including escrow accounts)

18. 18
0
500
1 000
1 500
2 000
2 500
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D
2013 2014 2015 2016 2017 2018 2019 2020
3.5. CUMULATIVE NET SALES TO BE RECOGNIZED IN P&L
(UNITS SOLD BUT NOT DELIVERED - PRESALES)
ANOTHER YEAR STARTS WITH RECORD HIGH REVENUE POTENTIAL
PLN m
Units sold but not delivered (presales): Value:
31.12.2019 3 361 units PLN 1 826m
31.12.2020 4 111 units, including: PLN 2 222m
• 959 finished units;
• 3 152 units under construction,
with 2 037 finishing in 2021

19. 19
3.6. BALANCE SHEET
STRONG BALANCE SHEET AND LOW GEARING RATIO
PLN m
ASSETS 31.12.2020 31.12.2019 Change
Current Assets 3 182.5 2 892.1 10.0%
Cash 636.1 466.3 36.4%
Incl. escrow accounts 50.5 37.1 36.2%
Inventory, including: 2 423.5 2 509.6 (3.4)%
Land and proojects under construction 1 821.8 2 100.7 (13.3)%
Finished units, parking places and storage cells 378.1 188.8 100.3%
Fixed Assets 70.8 68.8 2.8%
TOTAL ASSETS 3 253.2 2 960.9 9.9%
EQUITY AND LIABILITIES 31.12.2020 31.12.2019 Change
Equity 1 157.5 1 084.2 6.8%
Total Liabilities 2 095.7 1 876.7 11.7%
Long-term liabilities 431.0 469.0 (8.1)%
Incl. Interest-bearing debt (bonds and loans) 260.0 345.0 (24.6)%
Short-term liabilities, including: 1 664.7 1 407.7 18.3%
Deferred income 1 111.1 834.3 33.2%
Interest-bearing debt (bonds and loans) 110.0 100.0 10.0%
TOTAL EQUITY AND LIABILITIES 3 253.2 2 960.9 9.9%
FIXED
OTHER
INVENTO
RY
CASH
EQUITY
EQUITY
LONG-TERM
LIABILITIES
BONDS
OTHER
SHORT-TERM
LIABILITIES
TRADE
PAYABLES
AND OTHER
BONDS
LEASING
DEFERRED
INCOME
0
200
400
600
800
1 000
1 200
1 400
1 600
1 800
2 000
2 200
2 400
2 600
2 800
3 000
3 200
ASSETS LIABILITIES
PLN m

20. 20
LOW COST AND FAVOURABLE DEBT STRUCTURE
Cash (including escrow accounts) as of 31/12/2020 PLN 636m
Bond debt as of 31/12/2020 PLN 360m
Available credit lines as of 31/12/2020 PLN 375m
1.75%
1.60% 1.50% 1.50%
1.75%
110m
50+10m
50m 50m
100m
0
20
40
60
80
100
120
by 31.12.2021 by 31.12.2022 by 31.12.2023 by 31.12.2024 by 31.12.2025
Bonds Bank Loans
PLN m
Interest on bonds is based on WIBOR 3M plus margin presented on the chart above.
3.7. DEBT MATURITY STRUCTURE

21. 21
3.8. CASH FLOW
HIGH OPERATING CASH FLOW PROVIDES SECURITY
PLN m
Cash flow 31.12.2020 31.12.2019
Profit/(loss) before tax 378.6 320.5
Changes in inventory 125.7 (393.1)
Changes in prepayments and deferred income 262.9 198.7
Other adjustments 29.1 132.0
Cash flow generated from operating activities 796.4 258.0
Interest paid and received (14.3) (14.1)
Income tax paid (102.8) (81.9)
Cash flow from operating activities after interest and tax 679.3 162.1
Cash flow from investing activities (38.1) (17.6)
Net cash flow from financing activities (308.8) (173.7)
Increase / (decrease) in net cash and cash equivalents 332.3 (29.2)
Cash and cash equivalents – opening balance 253.3 282.5
Cash and cash equivalents – closing balance 585.7 253.3

22. 22
3.9. DIVIDENDS
PLN 10.00 PER SHARE – RECOMMENDATION OF RECORD HIGH PAYMENT FROM 2020 PROFIT
*Management Board’s recommendation
Dividend yield (right scale) calculated on closing price on last day of trading cum dividend
0,15
2,04
0,80 0,80 0,90
1,50
3,68
2,20 2,25
3,25
5,05
7,60
9,05
9,50
10,00*
0,1%
3,3%
2,5%
1,5%
1,9%
4,9%
8,5%
4,4% 4,5%
6,3% 6,4%
8,9%
10,5%
8,3%
0%
2%
4%
6%
8%
10%
12%
0,00
1,00
2,00
3,00
4,00
5,00
6,00
7,00
8,00
9,00
10,00
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Dividend yield
Dividend per share (PLN)

23. 23
4.1. DIVIDEND POLICY
• Dividends paid continuously since the IPO in 2006: PLN 1 216m paid in total (63% of the Group’s profit)
• Current policy: dividend progression with due regard to current market situation, growth plans and the
Group’s financial needs
• 100% of the Group’s net income for 2012-2018 paid in dividends to shareholders
• 94% of the 2019 net profit was paid by way of dividend in September 2020.
The Management Board stated its intention to increase dividends in forthcoming years, both in nominal and
real terms, while retaining part of the profits for building the Group’s equity to support its growth plans
• March 2021: Management Board recommendation of PLN10.00 dividend per share payable in 2021
(+5% YoY), i.e. 84% of the Group’s net income for 2020

24. 24
4.2. CAPITAL MANAGEMENT PRIORITIES
• Balance, discipline, flexibility and opportunistic focus on long-term value creation,
• Maintain our strong balance sheet, high liquidity and low gearing
• Grow the business, particularly through acquisitions and new regional markets

25. ZAŁĄCZNIKI
APPENDICES

26. 26
APPENDIX 1: COMMENCEMENT OF HANDOVERS IN 2021
PROJECT LOCATION
NO. OF
UNITS
COMMENCEMENT
OF HANDOVERS
PROJECT LOCATION
NO. OF
UNITS
COMMENCEMENT
OF HANDOVERS
Q1
WILNO VI PHASE 3.1 WARSAW 197 JAN'21
Q3
BEAUFORTA BUILDING 18 TRI-CITY 35 AUG'21
BEAUFORTA BUILDING 15 TRI-CITY 24 JAN'21 BEAUFORTA BUILDING 19 TRI-CITY 32 AUG'21
BEAUFORTA BUILDING 16 TRI-CITY 18 JAN'21 BEAUFORTA BUILDING 20 TRI-CITY 38 AUG'21
IDEA BUILDING 11 TRI-CITY 27 JAN'21 ZIELONY POŁUDNIK BUILDING 13 TRI-CITY 50 SEP'21
IDYLLA PHASE 2 WROCLAW 144 JAN'21 OSIEDLE CIS TRI-CITY 148 SEP'21
APARTAMENTY WŁODARZEWSKA 70 WARSAW 102 FEB'21 DAWNA POCZTA TRI-CITY 106 SEP'21
APARTAMENTY OGRODOWA WARSAW 160 FEB'21
Q4
WILNO V PHASE 1 WARSAW 326 OCT'21
OSIEDLE PRZY BŁONIACH BUILDING C TRI-CITY 28 FEB'21 LOCUS BUILDING 4 TRI-CITY 91 NOV'21
OSIEDLE PRZY BŁONIACH BUILDING D TRI-CITY 36 FEB'21 NASZE MIEJSCE BUILDING B TRI-CITY 44 NOV'21
DOM NA KURKOWEJ WROCLAW 118 FEB'21 PERSPEKTYWA PHASE 1.1 TRI-CITY 33 NOV'21
WILNO VI PHASE 3.2 WARSAW 228 MAR'21 ŻOLIBORZ ARTYSTYCZNY PHASE 13.1 WARSAW 158 DEC'21
Q2
OSIEDLE KOMEDY PHASE 1 WROCLAW 120 MAY'21 ŻOLIBORZ ARTYSTYCZNY PHASE 13.2 WARSAW 55 DEC'21
METRO ZACHÓD PHASE 1 WARSAW 134 JUN'21 METRO ZACHÓD PHASE 2.1 WARSAW 129 DEC'21
BEAUFORTA BUILDING 17 TRI-CITY 24 JUN'21 OSIEDLE GŁĘBOCKA PHASE 1 WARSAW 60 DEC'21
ZIELONY POŁUDNIK BUILDING 5 TRI-CITY 22 JUN'21 PERSPEKTYWA PHASE 1.2 TRI-CITY 21 DEC'21
ZIELONY POŁUDNIK BUILDING 6 TRI-CITY 22 JUN'21 BEAUFORTA BUILDING 8 TRI-CITY 35 DEC'21
ZIELONY POŁUDNIK BUILDING 7 TRI-CITY 22 JUN'21 BEAUFORTA BUILDING 9 TRI-CITY 27 DEC'21
ZIELONY POŁUDNIK BUILDING 8 TRI-CITY 23 JUN'21 BEAUFORTA BUILDING 11 TRI-CITY 35 DEC'21
LOCUS BUILDING 3 TRI-CITY 71 JUN'21 ZIELONY POŁUDNIK BUILDING 18-19 TRI-CITY 44 DEC'21
ZIELONY POŁUDNIK BUILDING 20-21 TRI-CITY 44 DEC'21

27. 27
APPENDIX 2A:
PROJECTS UNDER CONSTRUCTION AND IN PREPARATION: WARSAW
NO. OF UNITS, AS OF 31/12/2020
PROJECT IN PREPARATION
PROJECT UNDER CONSTRUCTION
8
6
1
2
7
3
5
10
9
4
NO. PROJECT
UNDER
CONSTRUCTION
IN
PREPARATION
6 WILNO 767 514
7
STACJA GROCHÓW
(SIENNICKA)
390 ---
8 PALLADIUM (AKACJE) --- 566
9 GŁĘBOCKA 271 ---
10
REZYDENCJA
STANISŁAWA AUGUSTA
125 ---
TOTAL
RIGHT BANK
1 553 1 080
NO. PROJECT
UNDER
CONSTRUCTION
IN
PREPARATION
1 ŻOLIBORZ ARTYSTYCZNY 493 ---
2 LUDWIKI --- 429
3 METRO ZACHÓD (+298) 387 298
4 BOKSERSKA (NEW) --- 37
5 PORY --- 200
TOTAL
LEFT BANK
880 964

28. 28
APPENDIX 2B:
PROJECTS UNDER CONSTRUCTION AND IN PREPARATION: TRI-CITY
NO. OF UNITS, AS OF 31/12/2020
1
6
4
7
8
9
3 10
11
12
5
13
PROJECT IN PREPARATION
PROJECT UNDER CONSTRUCTION
14
2
NO. PROJECT
UNDER
CONSTRUCTION
IN
PREPARATION
1 OSIEDLE BEAUFORTA 379 ---
2 BEAUFORTA II --- 1 056
3 PERSPEKTYWA 376 283
4 ZIELONY POŁUDNIK 277 276
5 DOLNE MIASTO --- 371
6 LOCUS 162 ---
7 OSIEDLE CIS 148 ---
8 OSIEDLE PRZY BŁONIACH 129 155
9 DAWNA POCZTA 106 ---
10 DOKI I MONTOWNIA 343 857
11
NASZE MIEJSCE
(NIEPOŁOMICKA)
124 ---
12
DYNAMIKA
(CZŁUCHOWSKA)
--- 334
13 JASTARNIA --- 116
14 PIEKARNICZA --- 536
TOTAL
2 044 3 984
TRI-CITY

29. 29
NO. PROJECT
UNDER
CONSTRUCTION
IN
PREPARATION
1 IDYLLA (STABŁOWICKA) 144 ---
2
OSIEDLE CHOCIEBUSKA 11
(NOWY DWÓR)
196 ---
3 DOM NA KURKOWEJ 118 ---
4
APARTAMENTY OŁTASZYN
(KUSTRONIA)
--- 158
5 KOMEDY (BUFOROWA) 203 353
6 ZIELNA 160 152
TOTAL
WROCLAW
821 663
PROJECT IN PREPARATION
PROJECT UNDER CONSTRUCTION
APPENDIX 2C:
PROJECTS UNDER CONSTRUCTION AND IN PREPARATION: WROCLAW
NO. OF UNITS, AS OF 31/12/2020
1
3
5
4
2
6

30. 30
For further information please contact:
Magdalena Cumanis
Investor Relations
tel. +48 22 351 68 49
e-mail: magdalena.cumanis@domd.pl
www.inwestor.domd.pl
Euro Styl S.A. results incorporation key:
• Sales volume and value – from Q2 2017
• New construction starts – whole 2017
• Deliveries and financial results – from 8 June 2017, i.e. the acquisition date
Dom Development S.A. endeavours to ensure that the information in the presentation is complete. up-to-date and accurate. However. we do not
make any guarantees in this respect. Dom Development S.A. connot accept responsibilty for the consequences of using such information. and in
particular any loss caused by reliance thereon for the purpose of investment decisions. The material contained in the presentation originates from
reliable public sources and to the best knowledge of Dom Development S.A. may be considered reliable.