infosiimgroup www.siimgroup.pt

Monthly Report | Real Estate Market | February 2021

Lisboa | Linha de Cascais | Ribatejo | Master Minas Gerais, Brasil Sale of houses in 2020 fell by around 8%, most affected

$OWKRXJK WKH 1DWLRQDO 6WDWLVWLFDO ,QVWLWXWH­V ,1(  ´QDO UHSRUW LQ UHODWLRQ WR WKH VDOHV RI GZHOOLQJV LQ  LV H[SHFWHG RQO\ RQ  0DUFKWKHIRUHFDVWVFXUUHQWO\SRLQWWRDIDOORIEHWZHHQDQG UHODWLYHWRWKHDOPRVWUHVLGHQWLDOSURSHUWLHVVROGLQ,W VKRXOG EH QRWHG WKDW LQ  WKH WK TXDUWHU ZDV DEVROXWHO\ H[FHSWLRQDOZLWKDTXDUWHUO\PD[LPXPRISURSHUWLHVVROG ZHOODERYHWKHTXDUWHUO\DYHUDJHRIUHFHQW\HDUV  DQG VRWKLVIDOORQO\UHµHFWVDQGTXDUWHUWKDWZDVKLJKO\FRQGLWLRQHG 20% E\WKHSDQGHPLF IDOORIVDOHVLQ 0RUHDFFHQWXDWHGYDULDWLRQVDUHH[SHFWHGIRU/LVERQDQG3RUWRDW /LVERQ WKLV WLPH ZLWK D GURS LQ VDOHV LQ /LVERQ RI FORVH WR  D OLNHO\ HIIHFWRIWKHOLPLWHGSUHVHQFHRIIRUHLJQEX\HUV

INE report - 3rd quarter of 2020 values published on 2/2/2021

PT = 9,4% 23 ,QWKHUGTXDUWHURI Almada Porto    /LVERQ ZDV 18 Guimarães V. N. de Gaia WKH RQO\ RQH RI WKH Setúbal Seixal Sta. Mª da Feira Sintra Maia Gondomar  PXQLFLSDOLWLHV Loures V. F. de Xira 13 Funchal V. N. de Famalicão ZLWKPRUHWKDQ Leiria Coimbra WKRXVDQG PT= 7,6% 8

Oeiras LQKDELWDQWV ZLWK D Matosinhos accommodation, 3Q 2020 (%) Braga \HDURQ\HDU 3 Cascais FRQWUDFWLRQ RI Barcelos

Lisboa KRXVHSULFHV   -2 0 5 10 15 20 Rate of year-on-year variation the median sales value per m² family Rate of year-on-year variation of the median sales value per m² of family accommodation, 2Q 2020 (%) Municipalities with more than 100 thousand inhabitants: Porto Metropolitan Area Other municipalities

- 1 - Infosiimgroup | February 2021 Median value and rate of year-on-year variation of the median sales value per m², Lisbon and parishes, 3Q 2020

25 6L[ RI WKH  SDULVKHV RI LISBOA = 3 375 € / m²

/LVERQ VDZ D \HDURQ\HDU 20 FRQWUDFWLRQ LQ WKHLU KRXVH 15 SULFHV $MXGD &DPSR GH 2XULTXH 6mR 9LFHQWH 10 Sta. Maria Maior

LISBOA= 5,3% $YHQLGDV1RYDV%HDWRDQG 5 Alcântara 0DUYLOD Penha de França Sta. Clara Belém Parque das Nações 0 S. Domingos de Benfica Sto. António

Marvila -5 S. Vicente Misericórdia

Ajuda Year-on-year rate of change median value sales per m², 3Q 2020 (%) -10 // 1 5000 2 000 2 500 3 000 3 500 4 000 4 500 5 000 5 500 6 000 Median sales value per m² of family accommodation, 3Q 2020 (€ / m²)

The geography has changed:

Rate of year-on-year variation of the median sales value per m², Median sales value per m², Lisbon and parishes, 3Q 2020 Lisbon and parishes, 3Q 2020

Sta. Sta. Clara Clara

Lumiar Olivais Parque Lumiar Olivais Parque Carnide das Carnide das Nações Nações Alvalade Alvalade S. S. Domingos Domingos Marvila de Benfica de Benfica Avenidas Areeiro Avenidas Areeiro Benfica Novas Benfica Novas Campolide Penha Campolide Penha Arroios de Beato Arroios de Beato Campo de Sto. França Campo de Sto. França António António Ourique S. Ourique S. Vicente Vicente Alcântara Sta. Ajuda Alcântara Sta. Misericórdia Maria Misericórdia Maria Estrela Maior Estrela Maior

Belém Belém Frequencies Frequencies 2 €/m Parishes % Parishes ] 4 500 ; 5 540 ] ] 12 ; 20,7 ] ] 3 375 ; 4 500 ] ] 5,3 ; 12 ] Lisbon Lisbon ] 2 500 ; 3 375 ] ] 0 ; 5,3 ] [ 2 102 ; 2 500 ] <= 0

Territorial Limits 116107 5 7 1 Territorial Limits 116107 5 7 1 34116 Parish 489379625611278634510538103 Parish 489379625611278634510538103 01km 01km Municipali Municipali

- 2 - Infosiimgroup | February 2021 Changes to the ARI/ GoldenVisa scheme

:LWK WKH DSSURYDO RI 'HFUHH /DZ QR  VSHFL´FDOO\ WKH DPHQGPHQW RI DUW    WKH DPHQGPHQWV SURYLGHG IRU LQ WKLV UHJLPH ZLOO EH LPSOHPHQWHG$FFRUGLQJWRWKHWH[WRI/DZ ª  %XLOGLQJV DFTXLUHG LQ WKH WHUPV FRQWHPSODWHG LQ VXEOLQHVLLL DQGLY RIOLQHG RIQRZKLFKDUHLQWHQGHG IRUKDELWDWLRQRQO\DOORZDFFHVVWRWKLVUHJLPHLIWKH\ DUHORFDWHGLQWKH$XWRQRPRXV5HJLRQVRIWKH$]RUHV DQG 0DGHLUD RU LQ LQODQG WHUULWRULHV LGHQWL´HG LQ WKH DQQH[WRWKH2UGLQDQFHQRRI-XO\«

LPSRUWDQWSRLQWV

L  7KHDOWHUDWLRQVFRPHLQWRIRUFHRQO\RQ WKDWLVPRQWKVODWHUWKDQDQQRXQFHG LL  7KH DOWHUDWLRQV RQO\ DSSO\ WR UHVLGHQWLDO SURSHUWLHV LLL  7KHFHLOLQJVUHPDLQXQFKDQJHGDVDQQRXQFHGVR WKHPLQLPXPLQYHVWPHQWUHPDLQVDW€

Government approves Long-term Strategy for Building Renovation

8QGHUWKH&OHDQ(QHUJ\3DFNDJHWKURXJK5HVROXWLRQRIWKH&RXQFLORI0LQLVWHUV$RI )HEUXDU\WKH*RYHUQPHQWDSSURYHGWKH/RQJWHUP6WUDWHJ\IRU%XLOGLQJ5HQRYDWLRQ (/35(  ZKLFKDLPVE\WRVXSSRUWWKHUHQHZDORIUHVLGHQWLDODQGQRQUHVLGHQWLDOEXLOGLQJVERWK SXEOLFDQGSULYDWHWRFRQYHUWWRGHFDUERQLVHGDQGKLJKHQHUJ\HI´FLHQF\UHDOHVWDWH ,W VKRXOG EH UHFDOOHG WKDW LQ WKLV FRQWH[W WKH 0RUH 6XVWDLQDEOH %XLOGLQJV 3URJUDP ZKLFK EHJDQLQ6HSWHPEHUDQGFORVHGLWV´UVWSKDVHLQ'HFHPEHULVDOUHDG\LQIRUFHZLWK DSSOLFDWLRQV KDYLQJ XVHG XS WKH  PLOOLRQ (XURV SODQQHG $SSOLFDWLRQV ZLOO UHRSHQ LQ HDUO\ 0DUFK

- 3 - Infosiimgroup | February 2021 Central Axis of Lisbon with several Projects in the Launch Phase: 600 new homes on the market

3 major projects are going ahead in the zone between Campo Pequeno and 2ª Circular (ring road):

The Lumino Development – a 3URMHFWWKDWLQFOXGHVKDELWDWLRQ  EXLOGLQJV LQ WKH VW SKDVH ¨ IUDFWLRQVLQDQGVWDJH  DQG D VWXGHQW UHVLGHQFH EXLOGLQJ ZLWK  XQLWV SODQQHG

Project in the area of the former grounds of Alvalade Stadium 0L[HG KRXVLQJ DQG VHUYLFHV SURMHFW FRPSULVLQJ DURXQG  DSDUWPHQWV DQG  RI´FH EXLOGLQJV $W WKH VDPH WLPH D WZLQ EXLOGLQJ RI WKH 126 KHDGTXDUWHUV ZLOO EH HUHFWHG RQ WKH ODQG ZKHUH WKH EXV VWDWLRQXVHGWREH

- 4 - Infosiimgroup | February 2021 Project for the grounds of the Feira Popular - PL[HGKRXVLQJDQGVHUYLFHVSURMHFW 7KHIROORZLQJZDVDSSURYHGLQDQH[WUDRUGLQDU\VHVVLRQRI/LVERQ&LW\+DOORI)HEUXDU\ ª$SSURYHWKHLVVXHRIIDYRXUDEOHSULRULQIRUPDWLRQVXEMHFWWRFRQGLWLRQVUHJDUGLQJWKHIHDVLELOLW\ RI FDUU\LQJ RXW D FRQVWUXFWLRQ SURMHFW LQ 3ORW % UHVXOWLQJ IURP 0XQLFLSDO %XLOGLQJ 3HUPLW QR  LQ &DVH QR H(', ,Q DFFRUGDQFH ZLWK WKH SUHVHQWDWLRQ PDGH E\ WKH ORFDO DXWKRULW\LQWKHSURMHFWZRXOGKDYHDIIRUGDEOHKRXVLQJXQLWV LQEXLOGLQJVDFTXLUHGIURP WKH6RFLDO6HFXULW\LQ$YHQLGDGD5HS~EOLFDDQGRQWKHODQGQH[WWR$YHQLGDGDV)RUoDV$UPDGDV DEXLOGLQJDOUHDG\XQGHUFRQVWUXFWLRQ DQGIUHHKROGGZHOOLQJVZKLFKZRXOGEHEXLOWRQ3ORW %1RWHDOVRIRUWKHFRQVWUXFWLRQRIWKHQHZ)LGHOLGDGHKHDGTXDUWHUVRQDQDOUHDG\OHYHOOHGVLWH QHDU(QWUHFDPSRVWUDLQVWDWLRQ

- 5 - Infosiimgroup | February 2021 Investment market remains very dynamic, on investors' radar

The British investment fund River Crown VROG LWV  VWDNH 5LYHU&URZQVHOOV SXUFKDVHG  PRQWKV DJR IRU DURXQG € 0 DQG ZLWK D VWDNHRI SUR´WDELOLW\ RI   LQ WKH 0D[LUHQW FORVHGHQG UHDO HVWDWH IXQG ZKLFKLQFOXGHVDVVHWVLQ3RUWXJDOWRDIXQGOLVWHGLQ6LQJDSRUH 99% VRXUFH 3URSHUW\ (8  7KH SRUWIROLR VROG DOVR includes assets in ZLWKSUR´WDELOLW\RI Lisbon, Cascais, Sintra, Albufeira and Setúbal. +20% ,Q -DQXDU\ BPI FRPSOHWHG WKH VDOH RI D SRUWIROLR RI 1RQ 3HUIRUPDQFH/RDQV 13/ ZLWKDWRWDOJURVVYDOXHRIDURXQG300 million EurosFRUUHVSRQGLQJWRDURXQGFUHGLWDJUHHPHQWV WRIXQGVPDQDJHGE\/;,QYHVWPHQW3DUWQHUV6$5/

SonangolWKURXJKLWVVXEVLGLDU\3XDoDsoldDEXLOGLQJLQ$YHQLGD GD5HS~EOLFDQHDU6DOGDQKDWRWKH%ULWLVKFRPSDQ\6LJQDO&DSLWDO Sonangol sells 3DUWQHUVIRUDURXQGPLOOLRQ(XURV VRXUFH:RU[ 7KHEXLOGLQJ QUWRRIWKH in numbers 5 to 7 of the Avenida da RepúblicaRQWKHFHQWUDOD[LV Avenida da RI/LVERQFRQVWUXFWLRQRIZKLFKZDVLQWHUUXSWHGVHYHUDO\HDUVDJR República KDVDJURVVFRQVWUXFWLRQDUHDDERYHJURXQGRIDURXQGP DQGKDGEHHQSXWXSIRUXUJHQWVDOHLQ

The American investment fund HIG Capital concluded the +,*&DSLWDO purchase of three residential buildings in the centre of Lisbon FRQFOXGHVSXUFKDVH +,*&DSLWDO­V´UVWDFTXLVLWLRQVLQ3RUWXJDOGDWHEDFNWRZKHQ residential buildings LW LQYHVWHG PRUH WKDQ  PLOOLRQ (XURV LQ WKH SXUFKDVH RI  3 SURSHUW\DVVHWVDQGORDQVJXDUDQWHHGWR)LQDQJHVWH

Smart Studios has three co-living projects under preparation in 6PDUW6WXGLRVZLWK /LVERQ7KHVHFRQFHUQDUHVLGHQFHZLWKXQLWVLQ$OWDGH/LVERD co-living LQWKHOLFHQVLQJSURFHVVIRUWZR\HDUVDSDUWPHQWVLQ$UHHLUR 3 DQGDOVRDQHZSURMHFWQHDU&RPSOH[RIWKH8QLYHUVLW\RI/LVERQ SURMHFWV ZLWKXQLWV

- 6 - Infosiimgroup | February 2021