Current report no 82 / 2015

Construction of the ESPACE housing estate in Warsaw — a new contract of Budimex SA

The Management Board of Budimex SA hereby announces that on 9 December 2015 a contract was signed with Bouygues Immobilier Polska sp. z o.o., with its registered office in Warsaw, for building the residential and commercial complex “ESPACE” (buildings C and D) in Warsaw Wilanów at the junction of Oś Królewska and Al. Rzeczypospolitej streets.

• Contract value: PLN 64,500,000 net.
• Works commencement date: 9 December 2015
• Works completion date: 30 October 2017
• Guarantee period: 60 months
• Financial terms and conditions:
  • Payment: 30 days from the delivery of the invoice to the ordering party.
  • Bank performance bond: 10% of net remuneration.
• Maximum contractual penalties: 10% of net remuneration (except for the contractual penalty accrued on termination of the contract, which is 10% of net remuneration).
• The Parties reserve the right to seek damages under general applicable rules if the amount of loss sustained exceeds the amount of the stipulated penalty.

The contract value exceeds 10% of the equity of Budimex SA.