The project manager is LA VIE EST BELLE, an international developer specializing in luxury contemporary architecture housing in prime markets in Europe and the United States. Founded in 2013, it operates with an integrated platform that covers land acquisition, licensing, architectural design, construction supervision, and direct marketing.

The company has completed more than 27 real estate transactions, mainly in the United States (Miami, Highland Beach, West Palm Beach) and Europe (Courchevel, Marbella and Ibiza), has raised more than $42M in capital through institutional and private partners, and has recorded historical IRRs between 12% and 28% depending on the type of operation.

The works are carried out by Testi Construzioni, an Italian construction company with recent experience in luxury villa projects in Ibiza. The construction contract provides for a 30% retention on each certification, whose payment is deferred until the sale of the asset and is subordinated to the Urbanitae loan.

The completion of the works is scheduled for the end of 2027, followed by the obtaining of the First Occupation License and a marketing and deed period during 2028.

The marketing of the villa will be carried out by the manager together with exclusive agencies via private sales. The Business Plan contemplates a sale price of €7.55M (c. €13,700/m² on living area).

The manager has contributed own funds of approximately €2.06M prior to the granting of the Urbanitae loan, and commits to contribute an additional €0.6M before the provision of Tranche B, up to c. €2.66M (39% of the total project cost). Additionally, the developer commits to finance with own funds 100% of the general costs of the project and any cost overrun not contemplated in the Business Plan.

Urbanitae investors will enter the project through the granting of a mortgage loan committed in 2 tranches, intended to refinance existing debt and finance outstanding construction costs, including contemplated contingencies.

Tranche A, amounting to €2,240,000, will have a fixed annual rate of 10.5% and a term of 24 months, with the option of two 6-month extensions in months 24 and 30 (24+6+6).

The use of Tranche A funds will be allocated to refinance the existing loan that partially financed the acquisition of the land and the initial phases of work, the outstanding payment of €200,000 to the construction company that executed the structure, and the structuring costs of the operation.

The exit of Urbanitae investors will occur through the revenues from the sale of the villa.

STRUCTURE

This operation will be structured via debt, where Urbanitae Investors will grant a fixed rate loan to the company ROCA LLISA DEVELOPMENT PROJECT, S.L.

The total amount of the gross loan will rise to an amount of €3,315,000, committed in two tranches, whose main characteristics are as follows (you can consult more information in the document "Fundamental Data of the Investment"):

• Total loan amount: up to a maximum of €3,315,000, committed in two tranches:

i. A first tranche or Tranche A, amounting to €2,240,000, fully contributed by Urbanitae investors.

ii. A second tranche or Tranche B, amounting to up to €1,075,000, intended to finance outstanding construction costs and project contingencies.

• Simple annual fixed interest rate: 10.5% for Tranche A.

• Loan term: 24 months, with the option of two 6-month extensions in months 24 and 30 (24+6+6, up to month 36).

• Interest and principal of the loan will be paid at maturity ('bullet'), starting to accrue from the formalization of the loan contract. Total early repayment is allowed at any time, subject to the payment of a minimum guaranteed interest of 12 months for Tranche A.

• The provisions of Tranche B will be made against work certifications, subject to the review and validation of an external Project Monitor appointed by Urbanitae, and will be conditioned to the prior contribution by the developer of the additional €0.6M of own funds.

Regarding the loan guarantees, the following is established in the financing contract:

• First rank real estate mortgage guarantee on the asset subject to financing, with Mortgage Liability of 140% of the principal.

• First rank pledge without fund intervention on the bank accounts of the Borrower company.

• First rank pledge on the social shares of the Borrower company.

• Equity Commitment Letters, through which the promoter commits to contribute own funds to cover (i) any cost overrun not contemplated in the Business Plan, (ii) 100% of the project's general costs and (iii) the 30% retention of the construction company, in case it claims its payment before the sale of the asset.

• 100% cash-sweep of the net income generated by the sale of the villa, intended to amortize the principal and interest of the Urbanitae loan.

• Irrevocable sales mandate, activatable at the loan's maturity (month 24, or months 30 or 36 in case of extension) or in case of an unremedied breach, which allows the lender to instruct the sale of the asset at a minimum price equivalent to 80% of the updated appraisal value.

As in all debt projects, the figure of the Project Monitor is incorporated in this project, who will review the work certifications, the progress in construction, possible deviations in time/cost, and who will also approve the loan disbursements.

WHY INVEST?

There are several reasons to invest in this project:

• First rank mortgage guarantee on a luxury villa in Roca Llisa, reinforced with a 100% cash sweep on the sale and an irrevocable sales mandate as an execution mechanism.

• Advanced work and no license risk: the project has all the licenses granted and the foundation and a good part of the structure are already executed.

• Premium location: Roca Llisa, urbanization with security in front of the Golf of Ibiza, with sea views and a few minutes from Ibiza city, the beaches and the airport.

• c. 2.66 M€ of promoter's capital (39% of the total cost), with a gross LTC of 33% with Tranche A and 48% once the entire loan is disposed of, and a loan/sale value ratio (LTV) of 44%.

• Promoter committed to the completion of the project: finances with own funds 100% of the general costs and any cost overrun, and the 30% retention of the construction company is subordinated to the Urbanitae loan.

• The annual return of 10.5% for Tranche A, with a minimum guaranteed return equivalent to 12 months of interest (10.5%).

MARKET

A market study has been carried out to determine if the sales price proposed by the manager is reasonable. The study, carried out in September 2026, analyzes 6 villas for sale in Roca Llisa, with prices between 6.25 M€ and 10.0 M€, an average price of 7.3 M€ and an average value of c. 14,700 €/m². The expected price for Villa Joy (7.55 M€, c. 13,700 €/m²) is below the area average in terms of €/m².

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.

WHEN WILL I RECOVER THE INVESTED MONEY?

The estimated term of this project is 24 months, with two possible extensions of 6 additional months in months 24 and 30 (24+6+6, up to month 36).

• November 2026, loan granted by Urbanitae investors, disposition of Tranche A, refinancing of existing debt and continuation of construction works.

• May 2027, provision of Section B against work certifications, once the promoter's additional own funds have been provided, and completion of the works at the end of 2027.

• First half of 2028, obtaining the First Occupation License and marketing of the finished asset.

• Second half of 2028, notarization of the sale of the villa and repayment of the loan to Urbanitae, within a period of 24 months (estimated maturity in November 2028).

RISKS

All investments carry a risk. Below are the main risks identified for this project:

• Commercial risk derived from a possible delay in the sale of the villa, as it is a single luxury asset, which could cause delays in debt repayment. This risk is mitigated by several factors: the location in one of the most demanded areas of Ibiza; a sale price below the average of the witnesses in the area in €/m²; and an LTV of 44%, which offers a comfortable margin against possible price adjustments. Additionally, the loan contemplates two extensions of 6 months and the guarantee package includes an irrevocable sales mandate.

• Risk of deviations in construction costs. The Business Plan includes a contingency item of c. €190,000, financed with Section B. Additionally, the promoter commits, through Equity Commitment Letters, to provide the necessary capital to cover any unforeseen cost overruns, as well as 100% of the general costs. An independent Technical Due Diligence has been carried out and an external Project Monitor will validate each work certification before its payment.

• Risk of deviations in construction deadlines. The works already have the structure largely executed and their completion is scheduled for the end of 2027, which leaves, within the 24-month term of the loan, a margin of c. 10-11 months for obtaining the First Occupation License, marketing and notarization, extendable by up to 12 additional months through extension options.

• Possibility of change of the agreed conditions. This risk includes potential substantial changes that take place from the start of the financing campaign until the formalization of the loan contract, in which case the project would be cancelled and the investment returned.

*Warnings and Risks*

Urbanitae Real Estate Platform S.L. (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 in no case can it be considered as an investment recommendation to potential 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 period for raising funds 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 investors their investment made.

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;

• Directors or employees of Urbanitae;

• Individuals or legal entities linked to these partners, directors 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, nor privileged access to information compared to the rest of the investors registered in Urbanitae. In accordance with Urbanitae's Internal Code of Conduct, these investors are obliged to internally communicate these operations.

Once the investment in the project is closed, Urbanitae will provide information in the project's investment area 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