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2013-06-26 1 PRESENTATION OF RESULTS FOR THE FIRST half OF 2013

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2 Table of contents The most important events in the first half of 2013 Factors that affect the the activity of the Company in the first half of 2013 Sale of flats in the first half of 2013 Chosen consolidated financial data for the first half of 2013 Chosen consolidated financial data for Q2 2013 Margin in gross from the sale vs gross profit from sale Realization of the gross profit from sale in the first half of 2013 Administration costs vs employment Premises in the offer to be recognized in the result in further quarters Investments realized in the first half of 2013 Investments planned to launch Strategy for next years The most important marketing events in the first half of 2013 Marketing and sale policy in the first half of 2013 Designs planned to launch in 2013

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3 The most important events in the first half of 2013 Obtained permissions for the use of the following investments: Obtained construction permits for the first stage of the Investment: Bliska Wola - Warszawa, building permits for I stage of Bliska Wola Investment Warszawa, Kasprzaka street - 156 premises. Postponent of payment terms of the bonds with a total value of PLN 200,7 mln: The company has successfully carried out the issue of new bonds worth PLN 105.7 millions with maturing in January 2016. For the means from the issuance, JWCH purchased significant majority of the bonds issued in June 2010 in the total amount of PLN 130 millions for which the maturity would have taken place in June this year Company also completed successfuly the negotiations with bondholders concerning the prolongation of bonds maturity date for bonds issued in April 2012 in the amount of PLN 95 mln dedicated to the cover of the part of price for the purchased plot at Kasprzata street in Warsaw. Thanks to this, the original maturity date falling in April 2015 has been extended to January 2016. Total bonds redemption in the amount of 24.3 mln PLN. Data on the investment wiatowida housing development, Warszawa- Tarchomin Zielona Dolina I, Warszawa-Biaoka Number of premises: 166 apartments 18 business premises 589 apartments 7 business premises Premises sold until: June 30, 2013: 160 apartments 18 business premises 222 apartments 5 business premises

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4 The most important events in the first half of 2013 Getting a loan and opening the closed escrow account for SPV-Seahouse Sp. z o.o. realizing an investment of Redowo Residence in Gdynia in accordance with the provisions of the new development law. Ending of the I edition of Struggle for home program, realized on Villa Campina housing development and broadcasted in TVN, where J.W. Construction Holding S.A. was a Partner. Ending of the first external contract of J.W.C. Sp. z o.o. the construction of Oxygen apartment building ( 45 Wronia street).

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5 Factors that affect the the activity of the Company in the first half of 2013 Thanks to the further reduction in interest rates, for the first time in history, PLN mortgage loans interest rates fell below 4%. The revival on the mortgage loans market (increase in the number of credit agreements in the Q2 2013 by 6% in comparison to Q1 2013). Announcement of the program: "Flats for youth" and "Fund of flats for rent". Bigger interest in flats purchase for investment purposes. Finished flats in Company offer in the segment of popular flats. Change of the investment realization strategy - high flexibility of the organizational structures in relation to the market needs (General Contracting system). Large competition on the market of contracting companies - building costs decrease.

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6 Factors that affect the the activity of the Company in the first half of 2013 Development law which makes it more difficult to among others fund new investments. Financial institutions are not prepared to co-finance designs in the light of new regulations. Hold of development branch funding by some banks. Lack of government program to support demand for flats in 2013. Ending the "Family's Own Place" program resulted in some purchasers return to the secondary market.

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7 Sales of flats in the first half of 2013 J.W. Construction Holding S.A., in Q2 2013 sold 205 premises. In spite of no government support for developers, the sale has increased in Q2 by 45,4 % in comparison to the analogous period in the previous year * Data on sales include sales of "Oxygen investment (34 premises in 2013 and 30 premises in 2012)

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8 Chosen consolidated financial data for the first half of 2013 Increase of profit from sale in the first half of 2013 by 17% in comparison to analogous period in previous year. Decrease of net profit in the first half of 2013 by 40% in comparison to analogous period in previous year. Chosen financial data First half of 2012 First half of 2013 Change half to half profit from sale PLN 155.4 mlnPLN 181.3 mln +17% Gross profit from salePLN 43.6 mlnPLN 38.7 mln- 11% Gross margin on sale28%21%- 7 p.p. Proft on operating activitiesPLN 40.2 mlnPLN 24.3 mln- 39% Net profitPLN 8.6 mlnPLN 5.1 mln- 40%

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9 Chosen consolidated financial data for the second quarter of 2013 Decrease of profit from sale in the second quarter od 2013 by 12% in comparison to the analogous period in the previous year Decrease of net profit in the second quarter of 2013 by 86% in comparison to analogous period in the previous year. Chosen financial data The second quarter of 2012 The second quarter of 2013 Change quarter to quarter profit from sale PLN 108.9 mlnPLN 95.5 mln-12% Gross profit from sale PLN 30.7 mlnPLN 20.6 mln-33% Gross margin on sale 28%22%-6p.p. Proft from operating activities PLN 29.2 mlnPLN 9.6 mln-67% Net profit PLN 6.1 mlnPLN 0.8 mln-86%

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10 Pre-tax sales profit vs Pre-tax sales marging Margin in gross on sale within the long period of time is maintained at the level above 20%.

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11 Realization of the gross profit from sale in the first half of 2013 Units recognized in the result of I half of 2012 vs. I half of 2013 The level of gross profit earned from sales for the first half of 2013 is PLN 38.7 mil. Percentage of developer designs recognized in profit from sales:

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12 Overheads vs employment Including employment in hotels: * 91 people ** 131 people *** 144 people Number of people 416

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13 Premises (in pieces) in the offer to be recognized in the result of further quarters sold premises Not transferred 230

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14 Investments realized in the first half of 2013 Commercial investments Name of the design Progress of the design Useable area (sq. m.) Realized - commercial Hanza Tower - Szczecin "zero" condition realized 36 328 In the first half of 2013, a total of 1.304 premises with a total surface of 72.039 m 2 and 36.328 m 2 of useful surface on the commercial investment (at the "zero" level) were realized in residential investments Residential investments Name of the designNumber of premises Useable area (sq. m.) Realized - residential Redowo Residence, Gdynia523 259 Pitkowo Oasis, Pozna1839 423 Oxygen Investment Warszawa*28720 868 Villa Campina Oarw houses2354 Permission to use validation Zielona Dolina I, Warszawa59627 722 wiatowida housing development, Warszawa 18410 413 IN TOTAL1 30472 039 * The investment is realized within the frames of General Contracting by JWC Sp. z o.o. company.

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15 Investments in Warsaw and in the vicinity Investment Number of premise s PUM Warszawa, Kasprzaka street, stage II 94442,213 m 2 Warszawa, Zielona Dolina II86538,258 m 2 Warszawa, Kasprzaka street, stage V 76533,270 m 2 Warszawa, Kasprzaka street, stage III 48221,155 m 2 Warszawa, Kasprzaka street, stage IV 55824,258 m 2 Warszawa, Berensona street26311,874 m 2 Warszawa, Antoniewska street23413,864 m 2 Warszawa, Kasprzaka street, stage I (the construction has been already started) 1567,550 m 2 Investments planned to launch according to the condition on the 30th of June 2013 During two years, on the basis of the land bank, the Copany is planning to launch the realization of more than 6.000 premises: Red color was used to mark designs that are planned to be launched in 2013 Investment Number of premises PUM Warszawa, Aluzyjna II684 080 m 2 Warszawa, Odkryta II824 158 m 2 Warszawa, Aluzyjna street I301,800 m 2 Warszawa Osada Wilana211,024 m 2 Zielona Dolina III442,256 m 2 Nowodworska - Houses161,400 m 2 Warszawa Mikoaja Trby181,440 m 2 Villa Campina (Oarw houses)101,870 m 2 In total Number of premises 4 556 Useable area 210 470 m 2

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16 Investments beyond Warsaw Investments planned to be launch Investment Number of premises PUM Katowice, Tysiclecia street stage II48823,805 m 2 Katowice, Tysiclecia street, stage I1497,085 m 2 Katowice, Batycka street23614,467 m 2 Gdynia, Spokojna street, stage II23613,614 m 2 Gdynia, Spokojna street, stage I19611,306 m 2 d, Tymienieckiego street III1085,072 m 2 Gdynia, Sochaczewska street513,600 m 2 In total:1 46478,949 m 2 Red color was used to mark designs that are planned to be launched in 2013

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17 Strategy for next years Strategic goals Intensification of works related to the preparation of detailed design documentation and obtaining building permit Strenghtening the leadership among developers, both in Warsaw and within the whole country Implementation of innovative sales solutions onto the market Activity concentration on the segment of residential investments

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18 The most important marketing events in the first half of 2013 Distinction of Hotel Czarny Potok Resort & SPA an emblem of Polish Exclusive 2013. Introducing to the offer a new program of interiors decor: Premium, available in four versions: "White", "Black", "Cappucino" and "Orange". Achieving sales and image effects thanks to the participation in the I edition of Struggle for home as a basis to continue the cooperation: In August 2013, the second edition of Struggle for home was started with the participation of J.W. Construction Holding S.A. This time, within the frames of the program, pictures are realized in the Zielona Dolina investment.

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19 Marketing and sale policy in the first half of 2013 Focusing the marketing and adevertising strategic actions on the internet marketing field. Leading campaigns directed on the sale of premises that are fully ready to be occupied in Warszawa, Oarw Mazowiecki and d. Continuation of sponsoring action, directed to the promotion of Company investment and strenghtening its image concluding agreement concerning the realization of TVNs program Struggle for home in Zielona Dolina investment. Preparation to lead the Oxygen Residence program for Oxygen investment. Oxygen Residence service makes it possible to use the complex program of rent management. This is a proposal for investors and the added value for apartment building occupants - possibility to use premium services, as for example concierge.

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20 Design Warszawa, Berensona street Location Warszawa, Berensona street Number of flats263 Useable area (in sq. m.)11 874 Design net value (in mln of PLN) 66 Characteristics the design covers 12 facilities low, prestige development Localization on Biaoka the most resiliently developing district in Warsaw Safe playground within the area of housing development Proximity of agglomeration conveniences: schools, kindergartens, shopping centres Quick commute to the city centre Designs to launch in 2013: Warszawa, Berensona street

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21 Design d, Tymienieckiego street Location d, Tymienieckiego street Number of flats108 Useable area(in sq. m.)5 072 Design net value (in mln of PLN) 28 Characteristics the design covers 3 facilities with max. 7 storeys prestige location in the historic area of d wide scope of metric areas and room arrangements Enclosed and supervised area Safe playgrounds Designs to launch in 2013: d, Tymienieckiego street

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22 Design Gdynia, Spokojna street Location Gdynia, Spokojna street Number of flatsI stage 196 Useable area (in sq. m.)I stage 11,306 Design net value (in mln of PLN) 65 Characteristics attractive location - vicinity of Lena and Spacerowa streets low, cosy development Wide scope of metric areas and rooms arrangement Design of room arrangement allows for any arrangement of interior Proximity of beach and Trjmiejski Park Krajobrazowy Designs to launch in 2013: Gdynia, Spokojna street, stage I

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23 DesignBliska Wola LocationWarszawa, Wola Number of premises 156 in I stage, 944 in II stage (in prospect, the investment will cover approximately 3000 premises) Useable area (in sq. m.) I stage: 7 550, II stage 42 213 Service trading offices (in m 2 ) as a target - more than 70 000 Design net value (in mln of PLN) approximately 53 for I stage, approximately 298 for II stage Characteristics great location - only 3 km from the strict center of the city very well developed communication infrastructure subway station since 2014 Recreational area within the premises of housing development Interesting and modern buildings architecture Competitive flats prices Designs to launch in 2013: Bliska Wola, Stage I and II

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24 DesignNowe Tysiclecie LocationKatowice Number of flats I stage 149 Useable area (in sq. m.) I stage 7,085 Design net value (in mln of PLN) 37 Characteristics as a target the design should cover five 17-storey residential and office facilities Modern architecture numerous glazings Attractive location allows for convenient and quich communication with city centre Terrain development includes numerous shrubs and trees Wide scope of metric area selection Vicinity of green terrains including Park lski (the biggest city park in Europe) Designs to launch in 2013: Nowe Tysiclecie, Etap I

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