STRUCTURE

The project has a capital gains strategy, which consists of an alliance with the developer for the development of a promotion in Denia, Alicante.

The contributions from Urbanitae investors will be delivered to the developer via a capital increase to the vehicle company that will gather all the contributions from Urbanitae investors in the project. This company will later increase capital in the project's promoting company.

The management model guarantees a total alignment of interests as the developer will invest his own capital and that of his partners (€2,150,000) along with that of Urbanitae investors (€1,500,000) and additional investors (€5,850,000).

A distribution structure has been established in which Urbanitae investors have priority of collection until they recover their investment plus a return of 17% IRR. Only after satisfying this preferential return, the developer will recover his capital and equivalent profitability. In the event of additional profits above this threshold, the developer will receive 50% of the excess, 5% will go towards capital structuring and the remaining amount will be distributed according to the percentage of capital held by each party.

WHY INVEST?

There are several reasons to invest in this project:

Preferential

Urbanitae invests in a preferential position, which means that investors have priority of collection over the developer: before he receives any remuneration, the capital contributed by the investors plus a return of 17% of net IRR must be fully recovered. Only once these amounts are covered, the developer can access his remuneration.

Attractive market:

The promotion is located in La Sella Golf, Dénia, an area of high holiday and residential demand, with scarce supply of new construction of this quality, mainly aimed at foreign buyers and retirees looking for a second home.

Granted license:

The license was granted in May 2026, which mitigates the technical risks of land development and allows the project to start immediately.

Confirmed financial backing:

The project already has financing committed by Maslow Capital in four tranches: land, work, commissions, VAT to face development costs.

High potential demand:

The promotion meets the criteria of international clients, and the commercial strategy has been planned together with experts from the area, ensuring a good absorption capacity in the market. 21 homes have been sold since February 2026, which corresponds to 16% of pre-sales on the total of 131 units.

ECONOMIC SCENARIOS

According to the CNMV criterion, in addition to the base (favorable) scenario proposed by the manager and which we contrast from Urbanitae, in Equity projects two additional scenarios must be published that show potential variations in the business plan.

1. FAVORABLE

The base, or favorable, scenario contemplates the revenue and expense estimates proposed by the manager, verified by Urbanitae, and contrasted by the market study.

In this project, the total revenue forecast amounts to 104,039,545 €, while the estimate of the total costs for the execution of the promotion corresponds to 95,503,330 €.

1. MODERATE

The moderate scenario contemplates an upward deviation of the construction costs estimated by the manager and a decrease in housing prices.

In this project, a 5% increase in residential construction costs has been considered, which raises the total cost amount to 91,214,379 €, although this amount includes a lower cost for Corporate Tax, as a lower profit is generated than in the favorable scenario, as well as the absence of promote for the developer, as the surplus above the preferred return of 17% IRR is not reached, all combined with a 10% decrease in sale price, with the total income being 94,581,405 €

1. UNFAVORABLE

The unfavorable scenario contemplates an increase in residential construction costs and a decrease in sale prices wide enough to obtain a negative result, with partial loss of the contributed capital.

In this project, a 10% increase in residential construction costs and a 15% reduction in sale prices have been considered, which would result in a total income figure of 90,469,170 € and total costs of 91,036,920 €, reduced compared to the favorable and moderate scenarios as the payment of Corporate Tax is avoided.

According to the supervisor's criteria, crowdfunding platforms should not communicate the estimated profitability in an equity project.

The total profitability of a project is the REVENUE FORECAST minus the COST ESTIMATE, divided by the TOTAL EQUITY.

As an example, in the FAVORABLE scenario, the calculation would be REVENUE FORECAST (104,039,545 €) minus EXPENSE FORECAST (95,503,330 €) divided by the total equity (9,500,000 €).

The result of this quotient multiplied by 100 will represent the profitability percentage on the contributed capital of this scenario.

The forecasts are mere estimates, and are subject to variations that could arise from the economic, social or other situation throughout the duration of the project.

MARKET

There is information available about the market within the "Sales Witnesses" documentation, where you will find a list of homes for sale in the area, and in the "Basic Real Estate Report".

WHEN WILL I RECOVER THE INVESTED MONEY?

The estimated term of this project is 42-46 months.

• Third quarter 2026 – capital increase and final procedures

• Fourth quarter 2026 – start of construction.

• Fourth quarter 2029 – end of construction.

• First quarter 2030 – delivery of homes, liquidation of the company and distribution of profits to investors.

It is important to bear in mind that in any real estate promotion, deadlines can vary both upwards and downwards.

RISKS

All investments carry a risk. Below, we detail the most relevant risks that we have specifically identified for this project:

• Risk of cost increase: Possibility of deviation in construction costs or rise in raw material prices.

• Commercial risk: there is the possibility that the sales pace of the 131 units is lower than expected.

• Possibility of change in the agreed conditions: This risk includes potential substantial changes that take place from the start of the financing campaign until the formalization of the capital increase, in which case the project would be canceled and the capital contributed by the investors would be returned.

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Warnings and Risks

Urbanitae Real Estate Platform (Urbanitae) does not hold the status of an investment services company, nor a credit institution and is not attached to any investment guarantee fund or deposit guarantee fund. The information published by Urbanitae Real Estate Platform on its Website is for informational purposes only and can in no case be considered as recommendations to investors.

The crowdfunding projects published by Urbanitae on its Website are not subject to authorization or supervision by the National Securities Market Commission or the Bank of Spain, therefore, all the information provided by the manager in relation to the projects has not been reviewed by them.

Urbanitae expressly informs that, in case of non-compliance with the total volume of investment of the project, the deadline for fundraising may be exceeded by up to 25%, maintaining the same investment conditions. Likewise, the project may be financed by Urbanitae when at least 90 percent of the financing objective has been reached, once the participation in the project that the platform itself may have is discounted. 

Investing in the projects published on this Website may entail certain risks, such as, the risk of total or partial loss of the invested capital, of not obtaining the expected monetary return or of lack of liquidity. Therefore, we warn investors to only invest an amount they are willing to lose and we suggest they diversify their investments to minimize and mitigate potential risks. In the event that the manager is unable to return or remunerate the funds received, Urbanitae will not return the investment made by the investors.

This project will be open to any investor registered in Urbanitae, and any of the following registered persons may invest in it:

• Urbanitae partners who own at least 20% of the share capital or voting rights;

• Managers or employees of Urbanitae;

• Individuals or legal entities linked to these partners, managers or employees by control.

In this regard, Urbanitae guarantees that the investments of any of these people will be made through the platform, on the same terms and conditions as any other investor, without receiving any preferential treatment, or privileged access to information compared to the rest of the investors registered in Urbanitae. In accordance with the Internal Code of Conduct of Urbanitae, these investors are obliged to internally communicate these operations.

Once the investment in the project is closed, Urbanitae will provide in the project's investment area information about the amount invested by these investors, the type of investor who has made the investment and the percentage it represents with respect to the total financed, always complying with the data protection policy.