Firmus Group enters into a strategic partnership with Pekabex Development.

We are pleased to announce that Firmus Group AS has entered into a partnership agreement with Pekabex Development Sp. z o.o., one of Poland’s leading real-estate development companies. Together we have established a 50/50 joint-venture company to develop our property “Mid Phase South,” which covers three hectares and lies on the Mierzeja peninsula on the Polish coast.

From left: Karol Sowa (White Owl, Legal Advisor), Piotr Witkowski (CFO, Pekabex Development),Grzegorz Kawecki (CEO, Pekabex Development), Tormod Stene-Johansen (CEO, Firmus Group), Kasper Huseby Nilsen (CFO, Firmus Group), Cezary Kuleza (President, Firmus Mierzeja), Pawel Sztejter (Advisor, JLL), Mateusz Kunecki (Legal Advisor, White Owl).

The agreement is structured in two phases:

• Phase A involves planning and zoning until the building permit is obtained.

• Only when Phase A is completed do we make a joint decision on whether to implement the project (Phase B).

Pekabex will provide financing and act as general contractor on the project, while Firmus contributes the land and will actively participate in management through joint decision-making processes. The project aims to combine high quality, efficient execution and optimal value creation for both parties.

This partnership marks an important step in realizing Firmus Group’s long‑term strategy for developing our land bank. We believe that working with Pekabex will give us access to unique expertise, a strong network and a higher pace of value creation. We look forward to sharing more information as the project develops.

Warsaw, 22.7.2025, On behalf of the Board of Directors

Tormod Stene-Johansen, CEO Firmus Group