GTC - Globe Trade Centre S.A. — Capital/Financing Update 2020

Feb 13, 2020

Conclusion of a loan facility agreement concerning the refinancing ofGaleria Jurajska in Częstochowa

The management board of Globe Trade Centre S.A. ("GTC") hereby announcesthat on 13 February 2020, GTC Galeria CTWA Sp. z o.o., with itsregistered seat in Warsaw (the "Galeria Jurajska"), a subsidiary of GTC,signed a loan facility agreement with Erste Group Bank AG ("Erste Bank")and Raiffeisen Landesbank Niederӧsterreich-Wien AG ("Raiffeisen Bank"),("Facility Agreement") concerning refinancing of Galeria Jurajskalocated in Częstochowa. ("Project").

The loan granted on the basis of the Facility Agreement in the amount ofEUR 130,000,000 ("Loan"), refinances the existing project loan. GaleriaJurajska is required to pay interest based on 3M EURIBOR increased byapplicable margin. The Loan will mature by 31 March 2025. The Loan shallbe repaid in quarterly instalments with a balloon repayment of theremaining loan principal at maturity date.

The Loan will be secured, inter alia, by standard security instrumentsfor such facilities, including among others: (i) mortgage to beestablished over the Project asset; (ii) a registered pledge over theshares in Galeria Jurajska; (iii) the registered pledge over GaleriaJurajska's bank accounts, and (iv) the assignment of receivables, rightsunder insurance policies.

Under the Facility Agreement, among other matters, the following eventsmay result in a default and may trigger the enforcement of securityestablished under the Facility Agreement: (i) failure to pay amountswhen due; (ii) failure to comply with financial covenants; (iii)material adverse effect; (iv) sale of property related to the Project orchange of borrower's ownership without the prior written consent of thelenders. Events of default are customary for this type of facility.

The disbursement of the loan under the above-described FacilityAgreement is subject to a number of standard conditions precedent. Theterms and conditions of the agreement do not differ from the generallyapplied standards for this type of agreement.

Legal grounds: § 17(1) of Regulation (EU) No 596/2014 of the EuropeanParliament and of the Council of 16 April 2014 on market abuse (marketabuse regulation) and repealing Directive 2003/6/EC of the EuropeanParliament and of the Council and Commission Directives 2003/124/EC,2003/125/EC and 2004/72/EC - inside information.