BBI Development S.A. — Capital/Financing Update 2021

Jun 23, 2021

UNOFFICIAL TRANSLATION:

Current report No. 14/2021

Date of preparation: 2021-06237

Short name of the issuer: i2Development S.A.

Subject: Signing a significantloan agreement with Aion Bank SA / NV

The Management Board of i2Development S.A. with its seat in Wrocław ("Issuer", "Company"), informsthat on June 22, 2021 it signed a non-renewable loan agreement with AionBank SA / NV ("Aion", "Bank") with its seat in Belgium up to the amountof 55,000. PLN 000.00 on the following conditions:

1. Subject of the contract: the loanis intended for the repayment of debt due to series H and J bonds, aswell as for the financing of current operations, in particularcorporate-wide purposes, financing of entities from the Capital Group,as well as real estate acquisition.

2. Significant terms of theagreement: The agreement concluded between the Company and the Bank hasstandard provisions in transactions of this type. It includes, but isnot limited to, the following provisions:

a) Loan amount: up to PLN55,000,000.00, launched in three tranches,

b) The financial conditions do notdiffer from those commonly used for this type of agreement: the loaninterest rate is based on the WIBOR 1M rate + the Bank's margin, thereis a preparation commission and a commission for early repayment in thefirst 3 years after the loan is disbursed,

c) Use of the loan: after meetingthe conditions for using each tranche of the loan,

d) Credit transaction period: untilMarch 31, 2026,

e) Repayment terms: monthly interestrepayment,

Capital repayment: takes place inaccordance with the agreed schedule, starting from the 1st quarter of2022. Final repayment on 03/31/2026.

f) The condition for launching theloan, in addition to establishing legal security for loan repayment andpayment of commission, will be, among others: providing certificatesfrom the Tax Office, City Hall, ZUS,

g) Legal collaterals for the loanagreement include, inter alia:

- first priority mortgages with aclaim for registration on vacant mortgage places on real estate locatedin Wrocław belonging to special purpose vehicles belonging to theIssuer's Capital Group, i.e. i2 Development spółka z ograniczonąodpowiedzialnością Piłsudskiego sp.k., Armii Krajowej 7 sp. o. o(formerly: i2 Development limited liability company Armii Krajowej 7sp.k.) and Stalova sp.z o.o. (formerly: i2 Development limited liabilitycompany Stalowa sp.k.),

- the Company's declaration onvoluntary submission to enforcement in the form of a notarial deedpursuant to Art. 777 § 1 point 5 of the Code of Civil Procedure,

- statements of the special purposevehicles belonging to the Issuer's capital group, i.e. i2 Developmentspółka z ograniczoną odpowiedzialnością Piłsudskiego sp.k., ArmiiKrajowej 7 sp.z o.o. (formerly: i2 Development limited liability companyArmii Krajowej 7 sp.k.) and Stalova sp.z o.o. (formerly: i2 Developmentspółka z ograniczoną odpowiedzialnością Stalowa sp.k.) on voluntarysubmission to enforcement in the form of a notarial deed pursuant toArt. 777 § 1 point 5 of the Code of Civil Procedure in connection withthe established mortgages,

- sureties for special purposevehicles belonging to the Issuer's capital group, i.e. i2 Developmentspółka z ograniczoną odpowiedzialnością Piłsudskiego sp.k., ArmiiKrajowej 7 sp.z o.o. (formerly: i2 Development limited liability companyArmii Krajowej 7 sp.k.) and Stalova sp.z o.o. (formerly: i2 Developmentspółka z ograniczoną odpowiedzialnością Stalowa sp.k.) to the Bank thatthe Issuer will pay its financial obligations under the loan agreementin a timely manner.

Other securities and additionalconditions do not differ from those commonly used for this type ofagreements.

Obtaining a non-renewable loan forthe Company will allow for a significant reduction in interest costs anda change in the maturity of the financial debt of the Issuer's CapitalGroup.

The loan agreement was consideredsignificant due to the fact that its estimated value exceeds 10% of theequity of the Issuer's Capital Group.

Signatures of personsrepresenting the Company:

2021-06-23MarcinMisztalPresident ofthe Management Board