H1 2020 financial and opartating results of Dom Development S.A. Capital Group - leading polish homebuilder

1. H1 2020 RESULTS PRESENTATION
25 AUGUST 2020
DOM DEVELOPMENT S.A. CONSOLIDATED GROUP

2. 2
CONTENTS
1. H1 2020 SUMMARY
1. HIGHLIGHTS 3
2. FINANCIAL RESULTS SUMMARY 4
3. MARKET 5
2. OPERATIONAL PERFORMANCE
1. H1 2020 NET SALES 6
2. QUARTERLY NET SALES 7
3. SALES SEGMENTATION 8
4. OFFER 9
5. NEW CONSTRUCTION STARTS 10
6. UNITS UNDER CONSTRUCTION 11
7. LAND BANK – OWNED AND CONTROLLED 12
8. DELIVERIES 13
3. FINANCIAL RESULTS
1. PROFIT AND LOSS ACCOUNT 14
2. CUMULATIVE NET SALES TO BE RECOGNIZED IN P&L 15
3. BALANCE SHEET 16
4. DEBT MATURITY STRUCTURE 17
4. SUMMARY 18
5. APPENDICES
1. COMMENCEMENT OF HANDOVERS IN 2020 20
2. PROJECTS UNDER CONSTRUCTION AND IN PREPARATION:
a) WARSAW 21
b) TRI-CITY 22
c) WROCLAW 23
d) SUMMARY 24

3. 3
1.1. Q2 2020 HIGHLIGHTS
• Sales of 816 units (-2% YoY) and increased market share
• Swift reaction to demand return – significant offer replenishment in late April
• Construction launch of 8 projects with 576 units
• PLN 644 m cash at bank – strong balance sheet and no net debt at the end of June
(net cash PLN 51.2m)
• 4 August 2020 – dividend payment recommendation reinstated: PLN 9.50 per share,
(PLN 239.6 m, 94% of 2019 consolidated net profit)

4. 4
1.2. H1 2020 FINANCIAL SUMMARY (v. H1 2019)
DELIVERIES 1 241 UNITS -25%
REVENUES PLN 772.2m +1%
GROSS MARGIN 31.0% +1.7 pp
NET PROFIT PLN 117.7m +2%
GEARING at 30.06.2020 (4)% -24 pp
The upturn in financial results
despite a lower deliveries volume
is a result of increased value of
units sold and expanding margin.
Negative gearing, i.e. net cash,
exceeding the value of bank loans
and bonds, confirms the
extraordinary strength of the
Group’s balance sheet.

5. 5
1.3. MARKET
• Strong demand rebound in May and June after April’s freeze due to the COVID-19 epidemic
• Balanced supply and demand resulted in stable prices
• Supply constrained by administrative delays, permitting problems and land shortage
• NBP base rate cut sharply, to a record low level of 0.1% – significant support for the housing
market
• Cash purchases continue to account for approx. 40% of the Group’s sales
• Gradual easing of mortgage eligibility criteria, after the initial tightening at the beginning of
the COVID-19 epidemic

6. 6
2.1. NET SALES
Net sales in units Q2 2020 Q2 2019 Change H1 2020 H1 2019 Change
Warsaw 603 558 +8% 1 100 1 166 (6)%
Tri-City 147 162 (9)% 367 389 (6)%
Wroclaw 66 116 (43)% 164 207 (21)%
Dom Development S.A. Group 816 836 (2)% 1 631 1 762 (7)%
9 PROJECTS LAUNCHED IN Q2

7. 7
2.1. QUARTERLY NET SALES
836
937
962
815 816
Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020
Warsaw Tri-City Wroclaw
No. of units
MAINTAINING SALES LEVEL DESPITE COVID-19 EPIDEMIC AND ECONOMY LOCKDOWN
Net sales (units)
Q2
2020
Q2
2019
Change
Warsaw 603 558 +8%
Tri-City 147 162 (9)%
Wroclaw 66 116 (43)%
Dom Development
Group
816 836 (2)%

8. 8
2.2. SALES SEGMENTATION IN H1 2020
HIGH SHARE OF UPPER-TIER FLATS CONFIRMS GROUP’S MARKET POSITION
16%
22%
20%
13%
28%
0
200
400
600
800
1 000
1 200
1 400
1 600
Dom Development S.A.
Consolidated Group
over PLN 650k
PLN 550-650k
PLN 450-550k
PLN 350-450k
up to PLN 350k
No. of units
Group’s average unit sale value in H1 2020:
PLN 567k
Unit sale value includes price of a flat with fit-out (if purchased), storage room (if purchased) and parking place (if purchased).
Unit sale value Warsaw Tri-City Wroclaw
Total
Group
over PLN 650k 37% 13% 10% 28%
PLN 550-650k 17% 4% 5% 13%
PLN 450-550k 24% 12% 20% 20%
PLN 350-450k 18% 26% 38% 22%
up to PLN 350k 4% 45% 27% 16%
Average value
(PLN k)
634 433 449 567

9. 9
2.3. OFFER
QUALITY OFFER ENABLES HIGH SALES EFFICIENCY ON DEMANDING MARKET
3 166
2 661
2 255
1 890
2 019
30/06/2019 30/09/2019 31/12/2019 31/03/2020 30/06/2020
Warsaw Tri-City Wroclaw
No. of units
under
construction
91%
finished
9%Offer as of 30.06.2020
Group’s offer
by location
30.06.
2020
30.06.
2019
Change
Warsaw 1 422 2 153 (34%)
Tri-City 403 509 (21%)
Wroclaw 194 504 (62%)
Dom Development
Group
2 019 3 166 (36%)

10. 10
2.4. NEW CONSTRUCTION STARTS
LOWER NUMBER OF COMMENCED PROJECTS DUE TO THE COVID-19 EPIDEMIC
1 019
570
409
506
576
Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020
Warsaw Tri-City Wroclaw
Project launches in Q2 2020:
Warsaw:
Osiedle Głębocka phase 1 (60 units)
Metro Zachód phase 2/1 (129 units)
Żoliborz Artystyczny phase 13/1 (158 units)
Żoliborz Artystyczny phase 13/2 (55 units)
Tri-City:
Osiedle Perspektywa phase1/1 (33 units)
Osiedle Perspektywa phase 1/2 (21 units)
Osiedle Perspektywa phase 1/3 (70 units)
Zielony Południk building 12 (50 units)
No. of units

11. 11
5 372 5 401
4 718 4 884
4 507
30/06/2019 30/09/2019 31/12/2019 31/03/2020 30/06/2020
Warsaw Tri-City Wroclaw
2.5. UNITS UNDER CONSTRUCTION
No. of units
ALL CONSTRUCTION SITES ARE PROGRESSING AS PLANNED
87%
13%
Units under construction
30.06.2020
In-house general contractor
(Dom Construction and Euro Styl Construction)
External general contractors
See p. 24 for detailed breakdown

12. 12
2.6. LAND BANK – OWNED AND CONTROLLED
WE CONTINUE TO STRENGTHEN OUR LAND BANK DESPITE CHALLENGING MARKET
Land bank 30.06.2020 30.06.2019 Change
Total
YoYNo. of units Owned Controlled Total Owned Controlled Total
Warsaw 3 052 4 037 7 089 2 911 3 310 6 221 +14%
Tri-City 3 481 3 200 6 681 3 231 1 600 4 831 +38%
Wroclaw 1 100 345 1 445 671 298 969 +49%
Dom Development
Group
7 633 7 582 15 215 6 813 5 208 12 021 27%
Land controlled - without building conditions

13. 13
2.7. DELIVERIES
AS PLANNED DUE TO TIMELY PROJECT COMPLETIONS
440
839
988
549
692
Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020
Warsaw Tri-City Wroclaw
No. of units
Deliveries in units
H1
2020
H1
2019
Change
Warsaw 930 1 481 (37)%
Tri-City 227 166 +37%
Wroclaw 84 8 +950%
Dom Development
Group
1 241 1 655 (25)%

14. 14
3.1. PROFIT AND LOSS ACCOUNT
HIGH MARGINS AND RECORD-HIGH AVERAGE VALUE OF DELIVERED FLAT: PLN 622K
Profit and Loss Account Q2 2020 Q2 2019 Change H1 2020 H1 2019 Change
Sales Revenues 458.0 238.7 92% 772.2 766.8 1%
Handovers (units) 692 440 57% 1 241 1 655 (25)%
Revenue per unit (PLN’000) 661.9 542.4 22% 622.2 463.3 34%
Gross Profit on Sales 146.7 79.4 85% 239.4 224.3 7%
Gross Profit Margin 32.0% 33.3% (1.2) pp 31.0% 29.3% 1.7 pp
Operating Profit 104.2 38.2 173% 153.9 143.5 7%
Operating Profit Margin 22.7% 16.0% 6.8 pp 19.9% 18.7% 1.2 pp
Profit Before Tax 98.3 38.4 156% 146.5 143.2 2%
Profit Before Tax Margin 21.5% 16.1% 5.4 pp 19.0% 18.7% 0.3 pp
Net Profit 79.1 31.1 155% 117.7 115.3 2%
Net Profit Margin 17.3% 13.0% 4.3 pp 15.2% 15.0% 0.2 pp
EPS (PLN) 3.16 1.24 155% 4.68 4.61 2%
IAS 15, PLN m

15. 15
3.2. CUMULATIVE NET SALES TO BE RECOGNIZED IN P&L
(UNITS SOLD BUT NOT DELIVERED - PRESALES)
RECORD REVENUE POTENTIAL TO BE RECOGNIZED IN FORTHCOMING QUARTERS
0
200
400
600
800
1 000
1 200
1 400
1 600
1 800
2 000
III
IV
V
VI
VII
VIII
IX
X
XI
XII
I
II
III
IV
V
VI
VII
VIII
IX
X
XI
XII
I
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IV
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VI
VII
VIII
IX
X
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XII
I
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IV
V
VI
VII
VIII
IX
X
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XII
I
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IV
V
VI
VII
VIII
IX
X
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XII
I
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VII
VIII
IX
X
XI
XII
I
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IV
V
VI
VII
VIII
IX
X
XI
XII
I
II
III
IV
V
VI
VII
VIII
2014 2015 2016 2017 2018 2019 2020
PLN m
Units sold but not delivered (presales): Value
30.06.2019 3 290 units PLN 1 655m
30.06.2020 3 751 units, including: PLN 1 938m
• 637 finished units;
• 3 114 units under
construction,
with 1 246 finishing in 2020

16. 16
3.3. BALANCE SHEET
VERY STRONG BALANCE SHEET AND NET CASH GIVE US ADVANTAGE IN VOLATILE ENVIRONMENT
PLN m
Consolidated Balance Sheet 30.06.2020 30.06.2019 Change
Shareholders’ funds (equity) 1 207.9 939.4 29%
Net debt / (net cash)* (51.2) 186.9 (127)%
Gearing** (4.2)% 19.9% (24.1) pp
Net asset value per share (PLN) 47.90 37.47 27.8%
Shares in issue (m) 25.2 25.1 0.6%
ROE (12M) 27.5% 29.7% (2.2) pp
ROCE (12M)*** 18.4% 26.7% (8.4) pp
* Bank debt plus bonds in issue less cash at banks (including escrow accounts)
** Net Debt / Equity
*** ROCE decline was caused by COVID-19 related long-term borrowing increases and later dividend payment than in 2019

17. 17
3.4. DEBT MATURITY STRUCTURE
WELL-SPREAD REPAYMENT DATES GIVE US FLEXIBILITY
0
110
50 50 50
333
0
50
100
150
200
250
300
350
400
by 30.06.2021 by 30.06.2022 by 30.06.2023 by 30.06.2024 by 30.06.2025
Bonds Bank Loans
PLN m
Cash (including escrow accounts) as of 30/06/2020 PLN 644 m
Bond debt as of 30/06/2020 PLN 260m
Available credit lines as of 30/06/2020 PLN 52m

18. 18
4. SUMMARY: H1 2020
• Highly dynamic market situation: good January and February, followed by rapid downturn in March
and April due to COVID-19 epidemic, and strong demand rebound in May and June
• Maintenance of Group’s business continuity, swift new project launches with first signs of market
recovery
• 1 631 units sold with high margin
• 2 019 units available for sale as of the end of June
• Construction of over 4 500 units in 54 projects on time and on budget
• 1 241 units delivered as planned
• Gross margin at 31% and PLN 117.7m net profit
• PLN 644m cash at bank with gearing of (4)%

19. ZAŁĄCZNIKIAPPENDICES

20. 20
APPENDIX 1: COMMENCEMENT OF HANDOVERS IN 2020
PROJECT LOCATION
NO. OF
UNITS
COMMENCEMENT
OF HANDOVERS
PROJECT LOCATION
NO. OF
UNITS
COMMENCEMENT
OF HANDOVERS
Q3
MEZZO BUILDING 2 TRI-CITY 76 Jul'20
Q4
PORT ŻERAŃ PHASE 3 WARSAW 152 Oct’20
BEAUFORTA BUILDING 2 TRI-CITY 19 Aug'20 IDEA BUILDING 10 TRI-CITY 50 Oct’20
BEAUFORTA BUILDING 3 TRI-CITY 19 Aug'20 ZIELONY POŁUDNIK PHASE 9 TRI-CITY 26 Oct’20
PIĘKNA 21 WROCLAW 200 Aug'20 ZIELONY POŁUDNIK PHASE 10 TRI-CITY 23 Oct’20
MEZZO BUILDING 1 TRI-CITY 82 Sep'20 ZIELONY POŁUDNIK PHASE 11 TRI-CITY 22 Oct’20
BEAUFORTA BUILDING 12 TRI-CITY 27 Sep'20 ZIELONY POŁUDNIK PHASE 12 TRI-CITY 26 Oct’20
BEAUFORTA BUILDING 13 TRI-CITY 21 Sep'20 LOCUS BUILDING 2 TRI-CITY 50 Oct’20
APARTAMENTY MARINA MOKOTÓW PH. 2/1 WARSAW 222 Nov'20
APARTAMENTY MARINA MOKOTÓW PH. 2/2 WARSAW 225 Nov'20
ŻOLIBORZ ARTYSTYCZNY PHASE 11 WARSAW 381 Nov'20
ŻOLIBORZ ARTYSTYCZNY PHASE 12 WARSAW 106 Nov'20
GRABISZYŃSKA WROCLAW 62 Nov'20
BEAUFORTA BUILDING 14 TRI-CITY 20 Dec'20
OSIEDLE PRZY BŁONIACH BUILDING A TRI-CITY 28 Dec'20
OSIEDLE PRZY BŁONIACH BUILDING B TRI-CITY 36 Dec'20
APARTAMENTY KSIĘCIA WITOLDA WROCLAW 138 Dec'20

21. 21
11
3
9
1
2
5
4
8
10
6
NO. PROJECT
UNDER
CONSTRUCTION
IN
PREPARATION
8
PORT ŻERAŃ
(KOWALCZYKA)
152 ---
9 WILNO 751 727
10
STACJA GROCHÓW
(SIENNICKA)
--- 390
11 PALLADIUM (AKACJE) --- 566
12 GŁĘBOCKA 60 211
13 ST. AUGUSTA --- 125
TOTAL
RIGHT BANK
963 2 019
7
NO. PROJECT
UNDER
CONSTRUCTION
IN
PREPARATION
1 ŻOLIBORZ ARTYSTYCZNY 700 280
2 LUDWIKI --- 429
3
APARTAMENTY
OGRODOWA
160 ---
4
APARTAMENTY
WŁODARZEWSKA 70
102 ---
5 MARINA MOKOTÓW 447 ---
6
METRO ZACHÓD
(SZELIGOWSKA)
263 124
7 PORY --- 200
TOTAL
LEFT BANK
1 672 1 033
PROJECT IN PREPARATION
PROJECT UNDER CONSTRUCTION
13
12
APPENDIX 2A:
PROJECTS UNDER CONSTRUCTION AND IN PREPARATION: WARSAW
NO. OF UNITS, AS OF 30/06/2020

22. 22
APPENDIX 2B:
PROJECTS UNDER CONSTRUCTION AND IN PREPARATION: TRI-CITY
NO. OF UNITS, AS OF 30/06/2020
1
26
4
7
8
9
3 10
11
12
5
13
NO. PROJECT
UNDER
CONSTRUCTION
IN
PREPARATION
1 IDEA 77 ---
2 OSIEDLE BEAUFORTA 277 191
3 PERSPEKTYWA 124 531
4 ZIELONY POŁUDNIK 236 394
5 DOLNE MIASTO --- 371
6 LOCUS 212 ---
7 OSIEDLE CIS 148 ---
8 OSIEDLE PRZY BŁONIACH 128 220
9 DAWNA POCZTA 106 ---
10 DOKI (ATRIUM) --- 1 200
11 NASZE MIEJSCE (NIEPOŁOMICKA) --- 124
12 CZŁUCHOWSKA --- 334
13 JASTARNIA --- 116
TOTAL
1 308 3 481
TRI-CITY
PROJECT IN PREPARATION
PROJECT UNDER CONSTRUCTION

23. 23
NO. PROJECT
UNDER
CONSTRUCTION
IN
PREPARATION
1 IDYLLA (STABŁOWICKA) 144 ---
2 KSIĘCIA WITOLDA 138 ---
3 KURKOWA 118 ---
4 KOMEDY (BUFOROWA) 102 454
5 GRABISZYŃSKA 62 ---
6 KUSTRONIA --- 145
7 NOWY DWÓR --- 198
8 ZIELNA --- 303
TOTAL
WROCLAW
564 1 100
PROJECT IN PREPARATION
PROJECT UNDER CONSTRUCTION
APPENDIX 2C:
PROJECTS UNDER CONSTRUCTION AND IN PREPARATION: WROCLAW
NO. OF UNITS, AS OF 30/06/2020
1
2
3
4
5
6
7
8

24. 24
LOCATION
NO. OF
PROJECTS / PHASES
UNDER
CONSTRUCTION
NO. OF UNITS
UNDER CONSTRUCTION
NO. OF UNITS
IN PREPARATION
TOTAL
(NO. OF UNITS)
WARSAW 15 2 635 3 052 5 687
TRI-CITY 34 1 308 3 481 4 789
WROCLAW 5 564 1 100 1 664
DOM DEVELOPMENT
CONSOLIDATED GROUP
54 4 507 7 633 12 140
APPENDIX 2D:
PROJECTS UNDER CONSTRUCTION AND IN PREPARATION: SUMMARY
NO. OF UNITS, AS OF 30/06/2020

25. 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
tel. +48 22 351 68 49
e-mail: magdalena.cumanis@domd.pl
www.inwestor.domd.pl