Current report no 37 / 2016

Construction of office building in Wrocław, on Robotnicza 11 — a new contract for Budimex SA

The Management Board of Budimex SA hereby announces that on 1 June 2016 it concluded a contract with Rejonowy Zarząd Infrastruktury [District Infrastructure Board] in Szczecin for:

• Contract value: PLN 81,800,000 net
• Works commencement date: 1 June 2016
• Works completion date: 31 October 2017
• Guarantee period: Ten (10) years from the issue of Work Acceptance Certificate

Financial terms and conditions:
Advance payment: none
Terms of payment: 30 days from the date of receipt by the Ordering Party of a valid invoice in accordance with the annexed Interim Payment Certificate.

Bank performance bond: 10% of net contract value.

Maximum penalties payable by the Contractor: 15% of the Accepted net Contract Amount.

Maximum penalties incurred by the Ordering Party: 10% of the Accepted net Contract Amount for withdrawing from the Contract for reasons solely attributable to the Ordering Party.

The value of the Contract exceeds 10% of Budimex SA’s own capital.