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Contents. 2013 - time of preparations to lauch new projects in the nearest 2 years. In 2013 the Company run 8 housing projects (including 1 investment in the General Contracting system) There were also some intensive works in order to prepare to launch new investments within SPV:

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  1. Contents

  2. 2013 - time of preparations to lauch new projects in the nearest 2 years • In 2013 the Company run 8 housing projects (including 1 investment in the General Contracting system) • There were also some intensive works in order to prepare to launch new investments within SPV: • in Warsaw and vicinity with the usable area of over 216,000 m2 • in Warsaw and vicinity with the usable area of over 216,000 m2 • In 2013, the Company started the revitalization of an hotel facility "Stara Dana" in Szczecin, within raised funds Jessica, with the area of ​​more than 4,000 m2. (SPV Dana Invest Sp. z o.o.) Developer of housing space Developer of commercial space

  3. The most important events in 2013 • Celebrations of the 20th anniversary of the Company's development activities • The investment realization in accordance with the Developer Act within SPVs and start open and closed fiduciary accounts: • JW Group Sp. z o.o. 1 SKA (Bliska Wola) • Seahouse Sp. z o.o. (Rezydencja Redłowo) • Nowe Tysiąclecie Sp. z o.o. (Osiedle Nowe Tysiąclecie)

  4. The most important events in 2013 • Acquired building permits: • Bliska Wola investment, Stage I, Kasprzaka Street, Warsaw • Stage III of the investment at Tymienieckiego Street, Lodz • Stage I of the investment at Bałtycka Street, Katowice • 6 single-family houses in Villa Campina

  5. The most important events in 2013 • Completion of the investment: Oaza Piątkowo, Zielona Dolina (use permit), Osiedle Światowida (use permit) • The postponement of bonds maturity date with a total value of PLN 200.7 mil. • The final repayment of bonds in the amount of PLN 24.3 mil. • The participation in the 1st and 2nd season of the program „Struggle for Home" as the Partner and Sponsor of the main prize, broadcast in TVN. The program was realized in Villa Campina and Zielona Dolina investments.

  6. Factors affecting the Company's activity in 2013 • Maintained low interest rates of mortgages as a favourable factor for the Clients. • Stabilization of the mortgage market (number of loan agreements in the fourth quarter 2013 increased by 2,48% in comparison to the third quarter 2013). • September - the adoption of the program called Mieszkanie dla Młodycha factor affecting demand in 2014. • Higher interest in purchase of flats for the investment purposes. • Continuation of intensive marketing and advertising actions guided on the sale of completed premises. POSITIVE

  7. Factors affecting the Company's activity in 2013 • The Developer Act makes financing new investment more difficult. • Developer branch perceived by the financial institutions as high risk branch. • No government program to support customers in 2013. • Long-lasting process of obtaining necessary administrative decisions in relation to the currently ongoing and future projects. NEGATIVE

  8. The strategy for next years • To start the biggest number of new residential projects offering faster, current cash flow and return on investment from previously purchased plots. • Implementation of projects within SPVs to increase transparency and accelerate the flow of financing acquistion. • To intensify works related to the preparation of project documentation and obtaining building permits • To strengthen the leader position both among developers in Warsaw (on the basis of an owned extensive land bank), and across the country, due to its expansion into other areas of Poland– Tri-City market, Łódź, Katowice, Poznań • Reduction and postponement of commercial and hotel projects, acquisition of partners for implementing these projects is being considered • Selective acquisition of new locations and reducing the scale of construction land bank • Active actions toward non-performing assets • Continuing the reduction of fixed costs, including overhead costs, through an internal reorganization of the Company • The new issue of shares in order to speed up the launch of the new investments.

  9. Sales of apartments in 2013 • Only in the fourth quarter, the Company sold 272 premises. • J.W. Construction Holding S.A. in 2013 sold 941 premises, what is 10% more than in the same period of the previous year. * Data on sales include sales of "Oxygen" investment (105 premises in 2013, 61 premises in 2012)

  10. Selected consolidated financial data for the fourth quarter of 2013 • Decrease in revenues from sales in Q4 2013 by 28,8 %, y/y. • Increase in net profit in Q4 2013 by 90.5% y/y

  11. Selected consolidated financial data for 2103 • Decrease in revenues from sales in 2013 by 7.9 % y/y • Decrease in revenues from sales in 2013 by 18.8 % y/y

  12. Gross margin on sales vs gross profit on sales • Gross margin on sales in the long term are maintained at a level of about 20%.

  13. Realization of gross profit on sales in 2013 • The level of gross profit earned on sales in 2013 is PLN 69 mil. The percentage of developer projects recognized in profit from sales: • Units recognized in results in 2013 vs 2012

  14. Overheads vs employment 400*** Number of people • Including employment in hotels: * 88 people ** 136 people *** 149 people

  15. Premises (in units) in the offer to be recognized in the result in subsequent quarters 268 sold premies not transferred

  16. Housing investments implemented in 2013 • Total number of implemented housing investments in 2013

  17. Investments to be run as at 31/12/2013 • During the next 2 years, the Company, on a basis of an owned land bank, plans to start the implementation of about 6,000 units: Investments in Warsaw and vicinity Investments planned to be run in 2014

  18. Investments planned to be run Investments beyond Warsaw Investments planned to be run in 2014

  19. The most important marketing events in 2013 • Introduction to the sale of Bliska Wola investment –which is located in the excellent location • Promotion of 2 new Villa Campina houses - designs are the response for the market demands in terms of price and standard („Margarita” and „Anita” houses) • Achieving sales and image effects and due to the participation in the I and II Edition of the "Struggle for Home" (TVN). The program was realized in Villa Campina and Zielona Dolina investments. • Introduction of Oxygen Residence program for Oxygen investment, which allows to use the comprehensive program of rental management. • Introduction 2 interior design programs to the Company's offer: Smart and Optima, which were created and selected as the most popular programs among flat buyers.

  20. Marketing and sale policy in 2013 • Concentration of strategic marketing and advertising activities in the field of Internet marketing. • Campaigns targeting the sale of turnkey apartments in Warsaw, Ożarów Mazowiecki and Łódź. • Individual approach to the customer – the flexibility in terms of possibility of negotiating the prices depending on the payment amount and schedule. • Preparation of special offers and bonuses for Customers: "rent holidays", vouchers for the purchase of finishing materials, equipment and household appliances. • Effective cross marketing - the cooperation with Hotel 500 and Czarny Potok Resort & Spa chain in terms of cross-promotion. • Extending the promotion by an additional area of communication with the Customer - nationwide television (TVN - Bitwa o Dom) within the support of the Company's property sales and PR activities

  21. Projects planned to be run in 2014: Bliska Wola, Stage II (B1+B2)

  22. Projects planned to be run in 2014:Łódź, Tymieckiego Street III

  23. Projects planned to be run in 2014:Warsaw, Berensona Street

  24. Projects planned to be run in 2014:Gdynia, Spokojna Street, Stage I

  25. Projects planned to be run in 2014:Gdynia, Sochaczewska Street

  26. Projects planned to be run in 2014: Nowe Tysiąclecie, Stage II

  27. Thank you for your attention INVESTOR RELATIONS: Małgorzata Szwarc-Sroka Economy Division and Investor Relations Office Head Director of Economic and Director of Investor Relations J.W. Construction Holding S.A. Member of Management Board of J.W. Construction Sp. z o.o. phone: 22 771 77 85e-mail.: relacje.inwestorskie@jwconstruction.com.pl

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