Amendment of the terms and conditions of the bonds issued by GTCHungary under the Bond Funding for Growth Programme

In relation to Scope Ratings' announcement of 29 August 2025 regardingthe downgrade of the rating of Globe Trade Centre S.A. (the "Company" or"GTC") and its subsidiary GTC Real Estate Development Hungary Zrt. ("GTCHungary") from B+ to B-, the Management Board of GTC hereby announcesthat on 23 September 2025, the meetings of the bondholders of series GTC2030/A and series GTC 2031/A bonds issued by GTC Hungary under the BondFunding for Growth Programme (collectively the "Bonds") approved, amongothers, the amendments to the terms and conditions of the Bonds withrespect to remediation periods in case of deterioration of the Bonds'rating

Pursuant to the amended terms and conditions of the Bonds, theremediation period in the event that the rating of the Bondsdeteriorates below B+ has been shortened from 24 months to 18 months. Inthe event of a deterioration of the rating of the Bonds to CCC or lower(but not to D or SD), GTC Hungary will be entitled to a one-yearremediation period to achieve a minimum rating of B-, and an additional6 months to improve the rating of the Bonds from B- to a minimum ratingof B+. This mechanism replaced the previous covenant to redeem the Bondswithin 90 days if the rating of the Bonds falls to CCC.

The amended terms and conditions of the Bonds also introduced new timelimitations regarding maintaining a deteriorated rating. The rating ofthe Bonds below B+ may be maintained for a maximum period of 2 yearscontinuously, except when the rating falls to SD or D level, which maybe maintained for a maximum period of 30 days. In case of failure toimprove the rating within the specified remediation periods, GTC Hungarywill be obliged to redeem the Bonds within 30 days from the end of therespective period.

The foregoing amendments to the terms and conditions of the Bondsregarding the deterioration of the external rating are applicable from29 August 2025.

Legal basis: Article 17(1) of Regulation (EU) No 596/2014 of theEuropean Parliament and of the Council on market abuse (Market AbuseRegulation) and repealing Directive 2003/6/EC of the European Parliamentand of the Council and Commission Directives 2003/124/EC, 2003/125/ECand 2004/72/EC (insider information).