FINANCIAL INFORMATION 2017

Including the

Consolidated financial statements

for the period of 6 months ended as at 30 June 2017 (Unaudited)

ORCO PROPERTY GROUP S. A. * Société Anonyme * 40 rue de la Vallée, L2661 Luxembourg

R. C. S. Luxembourg - B 44.996

SUMMARY

Part I. Management report Part II. Declaration letter Part III. Condensed consolidated interim financial information

Orco Property Group | Société Anonyme | 40 Rue de la Vallée, L-2661 Luxembourg RCS Luxembourg B 44996

Management Report as at 30 June 2017

MESSAGE FROM THE MANAGEMENT 5

FIRST HALF 2017 AND POST-CLOSING KEY EVENTS 6

Annual General Meeting of Shareholders 6

Suspension of trading in Warsaw 6

Disposal of Office Building in Capellen 6

MARKET ENVIRONMENT 7

PROPERTY PORTFOLIO 9

Total Property Portfolio 9

Property Valuation 10

Income Generating 13

Land Bank 16

Development 17

FINANCING 18

Cash and cash equivalents 18

Loan to value 18

Financial liabilities 18

RESULTS AND NET ASSETS 19

Income statement 19

Balance sheet 21

TABLE OF LOCATION OF EPRA INDICATORS 23

CORPORATE GOVERNANCE 24

Principles 24

Board of Directors 24

Description of internal controls relative to financial information processing 27

Remuneration and benefits 27

Corporate Governance rules and regulations 27

Additional information 30

SHAREHOLDING 33

Share capital and voting rights 33

Shareholder holding structure 33

Authorized capital not issued 33

CORPORATE RESPONSIBILITY 35

GLOSSARY & DEFINITIONS 36

ORCO PROPERTY GROUP, société anonyme (the "Company") and its subsidiaries (together the "Group" or "OPG") is a real estate group with a major portfolio in Central and Eastern Europe. It is principally involved in the development of properties for its own portfolio or intended to be sold in the ordinary course of business. The Company is a subsidiary of CPI Property Group (also as "CPI PG", which indirectly holds approximately 97% of the Company shares.

The Company is a joint stock company incorporated for an unlimited term and registered in Luxembourg. The address of its registered office is 40, rue de la Vallée, L-2661 Luxembourg, Grand-Duchy of Luxembourg.

The Company's shares are listed on the regulated markets of Luxembourg Stock Exchange and Warsaw Stock Exchange1.

1 The trading of Company's shares is suspended on both stock exchanges.

ORCO Property Group SA published this content on 31 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 August 2017 18:12:02 UTC.

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