21/2015 Decision on the building permit for the subsidiary company Smart City

Management Board of CPD S.A. (hereinafter the „Company”) would like to inform that on 28 September 2015 it received information from the management board of its subsidiary company Smart City spółka z ograniczoną odpowiedzialnością spółka komandytowa (hereinafter “Smart City”) that the President of the Capital City of Warsaw issued the decision approving the construction design and granting building permit. The decision concerns the construction of the multifamily residential complex with commercial premises on the ground floor, underground garage, development of the area with the name of “URSA” located on part of the plot of land survey no 95 zone 2-09-09 at Hennela street in Warsaw – District of Ursus.

In accordance with the Local Zoning Plan, the investment areas in Ursus, encompassing the total area of 220 h, shall in future constitute a unique and modern residential – recreational – educational complex. Because of its location and its unique comprehensive residential – recreational – educational functions, the Smart City project will be able to offer a high standard of life for its residents.

Scale of the investment project in Ursus provides the opportunity to create a completely new quality of urban system. Multi-functionality of the space will make the area an attractive place to live, get an education, do business and create new jobs.

Ursa Smart City constitutes the first stage of the Smart City project which will be constructed at the junction of Hennela and Dyrekcyjna streets and will comprise the total of four buildings with planned 356 apartments with the floor areas of between 32 and 102 m². We will offer mainly two- and three-room apartments which continue to be the most popular among the clients. There will be commercial premises located on the ground floors of the buildings with the floor areas ranging from 19 to 103 m², and parking place for 359 vehicles at the underground level. The investment project is the result of the cooperation between CPD S.A. and Unidevelopment S.A. The design of the residential complex was prepared by the architecture firm Hermanowicz Rewski Architekci.

Value of the investment project will exceed 10% of the equity of the Issuer.

Signatures of persons authorized to represent the Company:

Elżbieta Wiczkowska, President of the Management Board, 29.09.2015