DISCLAIMER - IMPORTANT

The materials contained on the following website are not directed at or to be accessed by persons located in the United States of America, Canada, Japan or Australia, or any jurisdictions in which the distribution or release would be unlawful. Accessing the materials may not be lawful in certain jurisdictions. In other jurisdictions, only certain categories of persons may be allowed to view these materials. If you wish to view the materials you must first satisfy yourself that you are not subject to any local requirements that prohibit or restrict you from doing so. If you are not permitted to, or are in doubt if you are allowed to view materials on the following website, please exit this webpage. Copies of the following materials or any other documents related to these materials may also not be distributed or submitted to or within the United States of America. This includes, among others, submission by fax, electronic post, telex, telephone and the internet.

Basis of access

Access to electronic versions of these materials is being made available on the following website by Grand City Properties S.A. in good faith and for information purposes only. Making press announcements and other documents available in electronic format on the following website does not constitute an offer to sell or the solicitation of an offer to buy shares in Grand City Properties S.A. Further, it does not constitute a recommendation by Grand City Properties S.A. or any other party to buy or sell shares in Grand City Properties S.A.

All information, opinions and intentions as well as all forward-looking statements contained in the materials on the following website are based, if not explicitly stated otherwise, on the currently available information, planning and certain assumptions of Grand City Properties S.A. at the time of the publication and may change in the future. In the event of a change in the information, plans and assumptions on which the materials on the following website are based, Grand City Properties S.A. is under no obligation to update these materials.

Confirmation of understanding and acceptance of disclaimer

By clicking on the "I AGREE" button, I certify that:

• I have verified that no law or regulation applicable in my country (i) prohibits or restricts my access to the information and materials set out on the following webpage or eligibility to participate in the offer and/or (ii) would require Grand City Properties S.A. to execute any local formalities in respect of such access and/or the offer;
• I am not physically present or residing in the United States of America, Canada, Japan or Australia, or in any jurisdiction where it would be unlawful to make available such information or documents and I agree not to forward the information and documents contained herein to any person or address in any of these countries. I am not using any U.S. jurisdictional means in accessing the following website;
• I agree that the materials I access or receive are for my own use. I will not publish, dispatch, distribute or disseminate any of the materials on the following website to or within the United States of America, in each case neither by means of utilization of any postal service nor by any other means or instruments of business communication between single states or foreign trade or any facilities of a national stock exchange of the United States of America; and
• I understand that Grand City Properties S.A. shall under no circumstance be responsible for any violation of applicable laws or regulations resulting from any access to the following website or any use of the information and documents contained herein that is made in violation of the above.

I have read and understood the disclaimer set out above. I agree to be bound by its terms. By clicking on the "I AGREE" button, I confirm that I am permitted to proceed to access electronic versions of these materials.