Israel Land Development : MLP Group - MLP Group - HALF-YEAR REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2023

MLP GROUP S.A. GROUP CONSOLIDATED

HALF-YEAR REPORT

FOR THE SIX MONTHS ENDED 30 JUNE 2023

This document is a translation. Polish version prevails.

published pursuant to Par. 60.1.1 of the Minister of Finance's Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated 29 March 2018 (Dz. U. of 2018, item 757)

www.mlpgroup.com

MLP Group S.A. Group

Consolidated half-year report for the six months ended 30 June 2023

(all data in PLN thousand, unless stated otherwise)

Contents:

I.	Letter from the President of the Management Board to Shareholders	6
II.	Selected financial data of the MLP Group S.A. Group	14

1. Interim condensed consolidated financial statements of the MLP Group S.A. 16 Group for the six months ended 30 June 2023

Authorisation of the interim condensed consolidated financial statements

17

Interim condensed consolidated statement of profit or loss and other comprehensive income 18

Interim condensed consolidated statement of financial position	19
Interim condensed consolidated statement of cash flows	20
Interim condensed consolidated statement of changes in equity	21
Notes to the interim condensed consolidated financial statements	22

1. General information

1. The Parent
2. The Group
3. Changes in the Group
4. Shareholding structure of the Parent

1.4. 1 Shareholders holding, directly or through subsidiaries, at least 5% of total voting rights in the Company

1.4. 2 Shares and rights to shares of the Parent held by members of management and supervisory bodies

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2. Basis of accounting used in preparing the interim condensed consolidated financial

1. Statement of compliance
2. Status of standards approval in the European Union

2.2. 1 Standards and interpretations approved by the European Union which were not yet effective as at the reporting date

1. Basis of accounting used in preparing the interim condensed consolidated financial statements
2. Functional currency and presentation currency of the financial statements; rules applied to translate financial data

1. 1. 1 Functional currency and presentation currency
   1. 2 Rules applied to translate financial data
      2.5 Use of estimates and judgements
2. Segment reporting
3. Revenue
4. Other income
5. Other expenses
6. Operating expenses
7. Finance income and costs
8. Income tax
9. Property, plant and equipment
10. Investment property

1. Fair value of the Group's investment property
2. Assumptions adopted by independent expert appraisers for valuation of existing buildings and buildings under construction

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MLP Group S.A. Group

Consolidated half-year report for the six months ended 30 June 2023

(all data in PLN thousand, unless stated otherwise)

12.	Deferred tax	41
13.	Investments and other investments	43
	13.1	Change in financial assets attributable to financing and other activities	43
14	Other non-current assets	44
15.	Trade and other receivables	44
16.	Cash and cash equivalents	45
17.	Notes to the interim condensed consolidated statement of cash flows	46
	17.1	Cash flows from borrowings	46
	17.2	Change in receivables	46
	17.3	Change in current and other liabilities	47
18.	Equity		47
	18.1	Share capital	47
19.	Earnings and dividend per share	48
20.	Liabilities under borrowings and other debt instruments, and other liabilities	48
	20.1	Non-current liabilities	48
	20.2	Current liabilities	49
	20.3	Change in financial liabilities attributable to financing and other activities	49
	20.4	Liabilities under bonds	51
	20.5	Borrowings secured and not secured with the Group's assets	52
21.	Employee benefit obligations	54
22.	Trade and other payables	54
23.	Financial instruments	55
	23.1	Measurement of financial instruments	55
	23.1. 1	Financial assets	55
	23.1. 2	Financial liabilities	57
	23.2 Other disclosures relating to financial instruments	57
24. Contingent liabilities and security instruments	58
25. Related-party transactions	61
	25.1 Trade and other receivables and payables	61
	25.2 Loans and non-bank borrowings	61
	25.3	Income and expenses	62
26. Significant litigation and disputes	63
27. Significant events during and subsequent to the reporting period	63
28. Remuneration paid or due to members of management and supervisory bodies	64
29. Employees	65
30. Information on the entity authorized to audit the financial supplement	66

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MLP Group S.A. Group

Consolidated half-year report for the six months ended 30 June 2023

(all data in PLN thousand, unless stated otherwise)

IV. Interim condensed separate financial statements for the six months ended 30

June 2023

Authorisation of the interim condensed separate financial statements

Interim condensed separate statement of profit or loss and other comprehensive income Interim condensed separate statement of financial position

Interim condensed separate statement of cash flows

Interim condensed separate statement of changes in equity

Notes to the separate financial statements

1. General information
2. 1. MLP Group S.A.
   2. MLP Group S.A. Group
   3. Management Board
   4. Supervisory Board
3. Basis of accounting used in preparing the separate financial statements
4. 1. Statement of compliance
   2. Basis of accounting
   3. Functional currency and presentation currency of the financial statements; rules applied to translate financial data

2.3. 1 Functional currency and presentation currency

1. 2.3. 2 Rules applied to translate financial data

   2.4 Use of estimates and judgements

2. Segment reporting
   3.1 Key customers of the Company
3. Revenue
4. Other income
5. Other expenses
6. Distribution costs and administrative expenses
7. Finance income and costs
8. Income tax
9. Non-currentfinancial assets in related entities
10. Long-terminvestments
11. Change in financial assets attributable to financing and other activities
12. Deferred tax
13. Trade and other receivables
14. Cash and cash equivalents

16. Equity

16.1 Share capital

16.1. 1 Shareholders holding, directly or through subsidiaries, at least 5% of total voting rights in the Company

16.1. 2 Shares and rights to shares of MLP Group S.A. held by members of management and supervisory bodies

16.2 Capital reserve

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MLP Group S.A. Group

Consolidated half-year report for the six months ended 30 June 2023

(all data in PLN thousand, unless stated otherwise)

17.	Earnings and dividend per share	87
18.	Non-bank borrowings and other debt instruments	87
	18.1	Non-current liabilities	87
	18.2	Current liabilities	88
	18.3 Change in financial liabilities attributable to financing and other activities	88
	18.4	Liabilities under bonds	89
	18.5 Non-bank borrowings not secured over the Company's assets	90
19.	Employee benefit obligations	91
20.	Trade and other payables	91
21.	Financial instruments	92
	21.1 Measurement of financial instruments	92
	21.1. 1	Financial assets	92
	21.1. 2	Financial liabilities	93
22.	Contingent liabilities and security instruments	93
23.	Related-party transactions	94
	23.1 Trade and other receivables and payables	94
	23.2 Loans and non-bank borrowings	97
	23.3	Income and expenses	100
24.	Significant litigation and disputes	103
25.	Significant events during and subsequent to the reporting period	104
	25.1 Impact of the political and economic situation in Ukraine on the operations of	104
		MLP Group S.A.
26.	Variable remuneration paid to Management and Supervisory Board members	105
27.	Employees	106
28.	Information on the auditor	106
V. Management Board's Report on the activities of the MLP Group S.A. Group	107

in the six months ended 30 June 2023

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