BBI Development S.A. — Capital/Financing Update 2020

Jul 24, 2020

UNOFFICIAL TRANSLATION:

Current report No. 49/2020

Date of preparation: 2020-07-24

Short name of the issuer: i2 Development S.A.

Subject: Issue of series K bonds

Legal basis: Article 17 para. 1 MAR - confidentialinformation

i2 Development S.A. Management Board with itsregistered office in Wrocław ("Company", "Issuer") informs that on July24, 2020 adopted a resolution on the issue of 10,000 (ten thousand)secured bonds of the series marked with the letter "K", not in the formof a document, with a nominal value of 1,000, 00 (one thousand) PLN eachbond and the total nominal value of PLN 10,000,000.00 (ten million),with interest rate, not deviating from market conditions, with a maximummaturity on August 11, 2023 ("Bonds").

The Bonds will be secured by a joint mortgage, whichwill be established on commercial premises located in Wrocław, on a plotof land at ul. Wszystkich Świętych and pl. Jana Pawła II (in buildingsB8 and B9 of the "Bulwar Staromiejski" investment), up to the amount of150% of the value of the Bonds allocated and the assignment - transferof rights from insurance policies.

The Bonds will be issued in the form of a publicoffering, as specified in Art. 33 point 1 of the Act of 15 January 2015on bonds ("Act"), pursuant to Art. 37b paragraph. 1 of the PublicOffering Act of July 29, 2005 on public offering and conditions forintroducing financial instruments to an organized trading system and onpublic companies, without drawing up an issue prospectus, on the basisof an information memorandum ("Memorandum").

The funds obtained by the Company from the issue ofthe Bonds will be used to refinance the Issuer's series F and G bonds.

The Issuer informs that the Memorandum regarding theBonds will be published on July 27, 2020 by publication on the websiteof the offeror, i.e. Michael / Ström Dom Maklerski S.A. :www.michaelstrom.pl.

Signatures of persons representing the Company: