GTC - Globe Trade Centre S.A.

Board/Management Information • Aug 29, 2023

Changes in the Management Board of Globe Trade Centre S.A.

The Management Board of Globe Trade Centre S.A. ("GTC", "Company")informs that on 29 August 2023, the Company entered into a mutualemployment contract termination agreement with Mr. Zolt_#225;n Fekete andJ_#225;nos G_#225;rdai. Mr. Fekete and G_#225;rdai resigned from their seats on theManagement Board of the Company as well as GTC Real Estate DevelopmentHungary Zrt. The resignation is effective as of 31 August 2023.

On 29 August 2023, the Supervisory Board of GTC appointed Gyula Nagy andZsolt Farkas as members of the Management Board of GTC S.A. Theappointment is effective 31 August 2023. Additionally, Mr. Nagy and Mr.Farkas were appointed Management Board members of GTC Real EstateDevelopment Hungary Zrt.

Gyula Nagy, recently appointed as the Chief Executive Officer (CEO) ofGlobe Trade Centre Group and Management Board Member of GTC Real EstateDevelopment Hungary Zrt, started his career as an auditor at Deloitteand led statutory and international group audit of real estate,financial services and tech Companies. Mr. Nagy gained experience innumerous mergers, acquisitions, IPOs and other due diligenceengagements. He joined OTP Group in 2012 and was promoted as the BoardMember and CFO of OTP Real Estate Ltd and other subsidiaries. Hisprimary responsibilities at OTP included financial, accounting andtaxation matters and participating in the committee assessingnon-performing real estate related loans of the bank. In 2018 he gainedexperience as an interim CFO for CTP Group, one of the largest Czechbased real estate developer in CEE region. He was the Chief FinancialOfficer and later Deputy Chief Executive Officer and Member of the Boardof Optima Investment Ltd between April 2019 and August 2023. Mr. GyulaNagy was member of member of Management Board of the Company (1 July2020-28 January 2022) and later the Supervisory Borad of the Company (11March 2022-24 August 2023).

Gyula Nagy graduated from the faculty of Finance and Accountancy of theBudapest Business School.

According to his statement, Mr. Nagy is not entered in the register ofinsolvent debtors maintained pursuant to the Act on the National CourtRegister of 20 August 1997, does not perform any activities outside ofthe Company's business which could be considered competitive withrespect thereto, does not participate in any competitive business eitheras a partner in a civil partnership or any other type of partnership,and is not a member of the authorities of any competitive company or anyother competitive entity.

Zsolt Farkas, recently appointed as the Chief Operating Officer (COO) ofGlobe Trade Centre Group and Management Board Member of GTC Real EstateDevelopment Hungary Zrt, brings with him more than two decades ofexperience in the field of construction and real estate development,with a primary focus on residential and commercial projects in Europe.

Mr. Farkas was the founder, CEO, and Chairman of the Management Board atMundial AG, a highly esteemed real estate development firm based inGermany. With a series of successful endeavors already under his belt,he boasts an impressive track record of having developed over 1.0million square meters of property. In addition to his responsibilitiesas CEO, Mr. Farkas currently serves as the managing director for morethan 10 companies.

Before establishing Mundial AG, he spearheaded numerous prosperousprojects in Hungary, Austria, Italy, and Croatia, collaborating withrenowned companies like Porsche, Spar, OMV, Kempinski, and Motel One.

Zsolt Farkas studied mechanical engineering at the Technical Universityof Vienna (Technische Universit_#228;t Wien) faculty of MechanicalEngineering.

According to her statement, Mr. Farkas is not entered in the register ofinsolvent debtors maintained in compliance with the Act on the NationalCourt Register dated 20 August 1997, does not perform any activitiesoutside of the Company's business which could be considered competitivewith respect thereto, does not participate in any competitive businesseither as a partner in a civil partnership or any other type ofpartnership, and is not a member of the authorities of any competitivecompany or any other competitive entity.

Legal basis: Art. 5 point 4 and 5 of the Regulation of the Council ofMinisters of 29 March 2018 concerning the submission of currentperiodical information by the securities' issuers and the conditions ofrecognizing as equal the information demanded by the national lawfulregulation of a country which does not hold the membership in EuropeanUnion.