STRUCTURE

The project has a capital gains strategy, which consists of an alliance with the promoter for the development of a promotion in Alfas de Pi, Alicante.

The contributions from Urbanitae investors will be delivered to the promoter via 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 promoter and partners will invest their own capital (€875,000) along with that of Urbanitae investors (€2,000,000), as well as with additional investors (€1,500,000).

The project has a building license granted so it is expected to start construction as soon as financing is closed and the execution project is ready.

On a commercial level, the project began marketing at the end of 2025 and today it has 18% of homes marketed, equivalent to 22 units. The sales pace is progressing as planned and the selling prices have been validated by a third party.

In terms of return, a preferential distribution structure has been established in which Urbanitae investors have priority of collection until they recover their investment plus a return of 17.00% IRR. Only after satisfying this preferential return, the promoter will recover his capital and equivalent profitability.

WHY INVEST?

There are several reasons to invest in this project:

Attractive market: The promotion is located in an area of high holiday demand, with scarce supply of new construction and few comparable promotions in the Marina Baja. This allows to attract customers especially for second residence, in a market with a shortage of direct competition.

Granted license: The license was granted in November 2025, which mitigates the technical risks of land development and allows the project to start immediately.

Confirmed financial backing: The project has received proposals from two alternative financial entities, currently in the analysis phase, ensuring economic viability and the solidity of the capital structure from the beginning.

High potential demand: The promotion meets the criteria of international customers, and the commercial strategy has been planned together with experts from the area, ensuring a good absorption capacity in the market.

ECONOMIC SCENARIOS

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

1. FAVORABLE

The base, or favorable, scenario contemplates the income 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 €39,495,000, while the estimate of the total costs for the execution of the promotion corresponds to €36,197,546.

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 €35,776,856, and a 5% decrease in selling price, with the total income being €37,614,286.

1. UNFAVORABLE

The unfavorable scenario contemplates an increase in residential construction costs and a decrease in selling 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 12% reduction in selling prices have been considered, which would result in a total income figure of €35,263,393 and total costs of €35,744,892, 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 (€39,495,000) minus EXPENSE FORECAST (€35,272,497) divided by the total equity (€4,375,000).

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

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 houses for sale in the area, and in the "Basic Real Estate Report", where you will find a study conducted by Basic Real Estate.

WHEN WILL I RECOVER THE INVESTED MONEY?

The estimated term of this project is 32-36 months.

• First quarter 2026 – capital increase and final procedures

• Third quarter 2026 – start of construction.

• Third quarter 2028 – end of construction.

• First quarter 2029 – 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 development, the 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 a possibility that the sales pace of the 123 units is slower than expected.

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

---------------------------------------

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 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 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 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.