GLOBE TRADE CENTRE S.A.
(Incorporated and registered in Poland with KRS No. 61500)
(Share code on the WSE: GTC.S.A)
(Share code on the JSE: GTC ISIN: PLGTC0000037)
(“GTC” or “the Company”)

The management board of Globe Trade Centre SA (“GTC”) informs that a sale purchase agreement of 100% of the capital of Winmark Ingatlanfejlesztő Kft (“Winmark”) (“Agreement”), a wholly owned Hungarian limited liability company, owner of the Ericsson Head Quarter Office Building (‘Ericsson’) and the Siemens Evosoft Head Quarter Office Building, Univerzum (‘Univerzum’) in Budapest, Hungary was concluded on 27 April 2021 between WINGPROP Ingatlanfejlesztő és Beruházó Zártkörűen Működő Részvénytársaság, a company incorporated and existing under the laws of the Hungary (the “Seller”) and GTC Real Estate Development Hungary Zrt (the “GTC Hungary”, “Buyer”).

Ericsson was completed in 2017 and comprises of 21,100 sq m GLA. The building is 100% leased to Ericsson and the canteen operator. Univerzum was completed in 2020 and comprises of 20,700 sq m GLA. The building is 100% leased to Siemens with a sublet to Evosoft. Both buildings have LEED Gold green certifications. GTC intends to hold the building as part of the income producing portfolio.

The purchase price for Winmark under the Agreement amounted to EUR 160,300,000.00 (one hundred sixty million three hundred thousand euros), which as at the date of this current report, based on the average EUR/PLN exchange rate announced by the National Bank of Poland, amounts to PLN 731,176,390.00 (seven hundred thirty-one million one hundred seventy-six thousand three hundred ninety PLN 0/100).

The purchase of the Winmark will be financed by Buyer's own funds combined with bank loan in the amount of approximately EUR 80,000,000.00 (eighty million euros) which as at the date of this current report, based on the average EUR/PLN exchange rate announced by the National Bank of Poland, amounts to PLN 364,904,000.00 (three hundred sixty-four million nine hundred four thousand PLN 0/100).

The closing of the transaction is expected in the second quarter of 2021 following completion of standard conditions precedent.

Neither GTC nor its managers or supervisors have any relationship with the Seller or with the Seller’s managers, except for the relations resulting from the Agreement.

Legal grounds: Article 17 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.

Warsaw, Poland

Sponsor: Investec Bank Limited