Dom Development S.A. reported strong financial results for Q3 2018, with sales reaching their highest level for the year. Net profit decreased slightly compared to Q3 2017, though profits were up significantly for the first three quarters overall. The company continued expanding its land bank and construction projects. Demand remained high in the company's key markets, though competition for new land was also very strong.

1. Dom Development S.A.
Consolidated Group
Q3 2018 Results Presentation
26 October 2018

2. Highlights
Q3 2018
• Q3 sales highest in 2018: 946 units, +18% QoQ with high margins
• Sales success on our flagship projects: Marina Mokotów and Żoliborz Artystyczny
• Strong offer growth to 3,120 units
• Dom Construction – highly successful start to construction on Żoliborz Artystyczny
• Doubling land bank in Wroclaw up to 1,150 units
2

3. Q3 2018 Financial Results – summary
• Handovers: 587 units (+6% YoY)
• Revenues: PLN 265.8m (+8% YoY)
• Gross Margin: 25.4% (-2.1 pp YoY)
• Net Profit: PLN 21.9m (-16% YoY)
• No net debt at 30.09.2018
3

4. Market in Q3 2018
• Continuing excess of demand over supply and further price increases
• Favorable macroeconomic factors supported demand, including very strong wage
and GDP growth, low interest rates and low unemployment
• Very strong competition on land market
• Construction services availability slowly improving, construction costs beginning to
stabilise
• High share of cash buyers – over 45% of overall transactions at Dom Development
4

5. 5
Quarterly net sales
678
615
701 705 714
806
1 039 1 081 1 049
848 802
946
Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018
No. of units

6. Q1-Q3 2018 Sales Segmentation – Markets Breakdown
16%
24% 66%
26%
24%
24%
25%
24%
9%
33%
28%
2%
0
200
400
600
800
1 000
1 200
1 400
1 600
1 800
2 000
Warsaw
Dom Development S.A.
Tri-City
Euro Styl S.A.
Wroclaw
Dom Development Wrocław Sp. z o.o.
up to PLN 350k
PLN 350-450k
PLN 450-550k
over PLN 550k
22%
25%
24%
29%
0
500
1 000
1 500
2 000
2 500
Dom Development S.A.
Consolidated Group
6
No. of units No. of units
* Transaction value includes price of a flat with fit-out (if purchased), storage room (if purchased) and parking place (if purchased).

7. 7
Offer (units available for sale)
2 104 2 278
3 254
2 791 2 677
2 416 2 570
2 868
402
272
221
270
302
323
231
252
2 506 2 550
3 475
3 061 2 979
2 739 2 801
3 120
31/12/2016 31/03/2017 30/06/2017 30/09/2017 31/12/2017 31/03/2018 30/06/2018 30/09/2018
Units under construction Finished units
No. of units

8. 8
New Construction Starts
555 575
1 654
1 002
512
1 079
1 312
281
Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018
4 projects4 projects 5 projects 12 projects 6 projects 6 projects 7 projects 12 projects
No. of units

9. 9
Units Under Construction
3 543
3 854
5 945
6 241
5 221 5 447
6 409
5 791
31/12/2016 31/03/2017 30/06/2017 30/09/2017 31/12/2017 31/03/2018 30/06/2018 30/09/2018
No. of units

10. 10
Land Bank
6 450 6 688
8 306 8 207 8 447
7 904
7 078
7 455
31/12/2016 31/03/2017 30/06/2017 30/09/2017 31/12/2017 31/03/2018 30/06/2018 30/09/2018
No. of units

11. 11
Handovers
Units sold but not delivered (presales)
30.06.2018 30.09.2018
3 422
units
3 781
units,including:
• 564 finished units
• 3 217 units under construction, out of which
1 364 will be finished in 2018
1 162
230
674
553
1 472
416
1 025
587
Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018
No. of units

12. 12
Cumulative Net Sales to be Recognized in P&L
0
200
400
600
800
1 000
1 200
1 400
1 600
1 800
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
2013 2014 2015 2016 2017 2018
PLNm

13. 13
Financial Results: Profit and Loss
Profit and Loss Account Q3 2018 Q3 2017 Change
Q1-Q3
2018
Q1-Q3
2017
Change
Sales Revenues 265.8 245.2 8% 905.0 680.7 33%
Handovers (units) 587 553 6% 2,028 1,457 39%
Revenue per unit (PLN’000) 452.8 443.4 2% 446.2 467.2 (4)%
Gross Profit on Sales 67.6 67.6 - 246.5 184.0 34%
Gross Profit Margin 25.4% 27.6% (2.1) pp 27.2% 27.0% 0.2 pp
Operating Profit 28.1 32.4 (13)% 123.5 89.7 38%
Operating Profit Margin 10.6% 13.2% (2.6) pp 13.6% 13.2% 0.5 pp
Profit Before Tax 28.5 32.1 (11)% 123.7 90.1 37%
Profit Before Tax Margin 10.7% 13.1% (2.4) pp 13.7% 13.2% 0.4 pp
Net Profit 21.9 26.0 (16)% 98.2 74.0 33%
Net Profit Margin 8.2% 10.6% (2.4) pp 10.9% 10.9% -
EPS (PLN) 0.88 1.05 (16)% 3.94 2.97 33%
IAS 18, PLN m

14. 14
Financial Results: Balance Sheet
Consolidated Balance Sheet 30.09.2018 30.09.2017 Change
Shareholders’ funds (equity) 917.7 881.2 4%
Net debt/(net cash)* (23.8) 63.3 -
Gearing (net debt/equity) (2.6)% 7.2% (9.8) pp
Net asset value per share (PLN) 36.75 35.43 4%
Shares in issue (m) 25.0 24.9 -
ROE (12M) 24.4% 18.9% 5.5 pp
ROCE (12M) 24.6% 17.8% 6.8 pp
IAS 18, PLN m*Bank debt plus bonds in issue less cash at banks (including escrow accounts)

15. 15
Debt Maturity Structure
100
110
50
35
0
20
40
60
80
100
120
by 30.09.2019 by 30.09.2020 by 30.09.2021 by 30.09.2022 by 30.09.2023
Bonds Bank Loans
PLN m
Cash (including escrow accounts) as of 30/09/2018 PLN 319m
Bond debt as of 30/09/2018 PLN 260m
Available credit lines as of 30/09/2018 PLN 200m

16. 16
Summary: Q1-Q3 2018
 Very strong demand in Warsaw, Wroclaw and Tri-City markets
 New land plots for over 800 units in the Tri-City and over 850 units in Wroclaw
 Dom Construction (Group’s internal General Contractor) successfully set up business in Warsaw
 2,596 units sold (-11% YoY) with improving margins
 3,120 units available for sale
 5,791 units under construction on 46 projects
 Q1-Q3 2018 net profit: PLN 98.2m, up 33% YoY
 Gearing as of 30 September 2018: -2.6%; PLN 23.8m net cash

17. 17

18. 18
Appendix 1:
Commencement of handovers in 2018
Commencement of handovers: on schedule/earlier/delayed
Project Location
No.
of units
Commencement
of handovers
Wilno VI phase 1 Warsaw 309 Sep'18
Premium phase 5 Warsaw 113 Sep'18
Q4
2018
Futura Park building 7 Tri-City 8 Oct'18
Apartamenty Mokotów nad Skarpą 2 Warsaw 190 Nov'18
Cybernetyki 17 phase 1 Warsaw 146 Nov'18
Moderna phase 3 Warsaw 187 Nov'18
Wille Lazurowa phase 2 Warsaw 102 Nov'18
Idea building 5 Tri-City 62 Nov'18
Nowy Horyzont building 11 Tri-City 38 Nov'18
Apartamenty Park Szczęśliwicki Warsaw 46 Nov'18
Dom na Bartyckiej Warsaw 131 Dec'18
Forma phase 2 Warsaw 199 Dec'18
Cybernetyki 17 phase 2 Warsaw 247 Dec'18
Premium phase 4 Warsaw 248 Dec'18
Spektrum building A Tri-City 169 Dec'18
Scena Apartamenty Tri-City 61 Dec'18
Osiedle Viridis building A1 Tri-City 32 Dec'18
Port Żerań phase 1 Warsaw 362 Jan’19
Amsterdam phase 2 Warsaw 314 Jan’19

19. 19
Appendix 2a:
Projects Under Construction and in Preparation: Warsaw
no. of units, as of 30/09/2018
NO. PROJECT
UNDER
CONSTRUCTION
IN
PREPARATION
13 REGATY 272 ---
14 PALLADIUM (AKACJE) --- 566
15 PORT ŻERAŃ (KOWALCZYKA) 692 152
16 MODERNA 187 ---
17 AMSTERDAM (SAMARYTANKA) 516 ---
18 WILNO 211 1 371
19 FORMA (MOTOROWA) 412 ---
20 STACJA GROCHÓW (SIENNICKA) 148 409
TOTAL
RIGHT BANK
2 438 2 498
PROJECT IN PREPARATION
PROJECT UNDER CONSTRUCTION
14
16
17
194
9
18
12
2
1
3
6
7
8
11
13
5
10
15
20
NO. PROJECT
UNDER
CONSTRUCTION
IN
PREPARATION
1 ŻOLIBORZ ARTYSTYCZNY 273 983
2 PREMIUM 248 ---
3 WILLE LAZUROWA 102 ---
4 OGRODOWA --- 160
5 WŁODARZEWSKA 70/72 --- 102
6
APARTAMENTY PARK SZCZĘŚLIWICKI
(PRZY PARKU)
46 ---
7 MARINA MOKOTÓW 319 443
8 APARTAMENTY MOKOTÓW NAD SKARPĄ 190 ---
9 CYBERNETYKI 17 487 ---
10 WILLE TANECZNA 81 ---
11
APARTAMENTY DOLNY MOKOTÓW
(SOBIESKIEGO)
153 ---
12 DOM NA BARTYCKIEJ 131 ---
TOTAL
LEFT BANK
2 030 1 688

20. 20
PROJECT IN PREPARATION
PROJECT UNDER CONSTRUCTION
Appendix 2b:
Projects Under Construction and in Preparation: Tri-City
no. of units, as of 30/09/2018
1
2
4
6
5
3
10 7
11
89
12
13
14
NO. PROJECT
UNDER
CONSTRUCTION
IN PREPARATION
1 OSIEDLE VIRIDIS 32 ---
2 IDEA 169 145
3 NOWY HORYZONT 38 ---
4 SPEKTRUM 401 ---
5 OSIEDLE BEAUFORTA 137 471
6 SCENA APARTAMENTY 61 ---
7 MEZZO 158 ---
8 FUTURA PARK 8 ---
9 ZIELONY POŁUDNIK 52 662
10 POLANKI APARTAMENTY --- 9
11 LOCUS --- 271
12 GDYNIA MORSKA --- 156
13 RUMIA DĘBOGÓRSKA --- 308
14 GDAŃSK MICKIEWICZA --- 97
TOTAL
TRI-CITY
1 056 2 119

21. 21
NO. PROJECT
UNDER
CONSTRUCTION
IN PREPARATION
1 KSIĘŻE NOWE (RYBNICKA) 132 ---
2 IDYLLA (STABŁOWICKA) 83 144
3 STUDIO ARTE 52 ---
4 KSIĘCIA WITOLDA --- 138
5 PIĘKNA --- 200
6 KURKOWA --- 115
7 BUFOROWA (NEW) --- 553
TOTAL
WROCLAW
267 1 150
PROJECT IN PREPARATION
PROJECT UNDER CONSTRUCTION
1
2
5
3
4 6
Appendix 2c:
Projects Under Construction and in Preparation: Wroclaw
no. of units, as of 30/09/2018
7

22. 22
LOCATION
NO. OF
PROJECTS / PHASES
UNDER CONSTRUCTION
NO. OF UNITS
UNDER CONSTRUCTION
NO. OF UNITS
IN PREPARATION
TOTAL
(NO. OF UNITS)
WARSAW 23 4 468 4 186 8 654
WROCLAW 3 267 1 150 1 417
TRI-CITY 20 1 056 2 119 3 175
TOTAL 46 5 791 7 455 13 246
Appendix 2d:
Projects Under Construction and in Preparation: Summary
as of 30/09/2018

23. 23
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.
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 – from Q2 2017
• New construction starts – whole 2017
• Deliveries and financial results – from 8 June 2017, i.e. the acquisition date