Neinor Homes has just released to the CNMV the strategic review of its business plan, together with a relevant fact about a change in top management, with Juan Velayos stepping down as CEO and the appointment of Borja García-Egotxeaga, the former COO and with almost 20 years’ experience in the residential sector, as the new CEO. A webcast to discuss the strategic review will occur at 7pm Madrid / 6pm London tonight (see details below).

Changes to Top Management

Borja Garcia-Egotxeaga has been appointed by the Board as new CEO, and Jordi Argemí, current CFO, steps also into the role of Deputy CEO. Former Proprietary Director Jorge Pepa, joins the management as Executive Vice President, remaining on the Board as Executive.

The Board and former CEO have mutually agreed on this change, and Mr. Velayos will step into a senior advisory role to ensure an orderly transition. Furthermore, the replacement decision by the Board brings continuity to the Company growth with in-house promotions.

Highlights of the Strategic Review

The new management has taken some strategic decisions for the business plan 2019-2021, which was unanimously approved by the Board today. Pillars of the new business plan:

• Deliveries: prudent delivery plan 2019-2021 protecting profits and Neinor’s customers

• 2019E: €70m+ EBITDA; 1,200 units to 1,700 units
• 2020E: €100m+ EBITDA; 1,700 units to 2,400 units
• 2021E: €150m+ EBITDA; 2,400 units to 3,000units

• Run Rate: run rate target set at 2,500-3,000 units
• Land acquisition program: disciplined and optimized equity use, targeting €100m acquisitions for 2019-2020
• Leverage existing capabilities: pursue additional servicing revenues, fee-development or equity efficient deals and joint-ventures
• Shareholder remuneration: a plan worth c. 35% of current market cap

1. €200m dividends between 2020-2022
2. Share buy-back in 2019 of up to €100m, with a facility already in place.

Full presentation and Webcast details

Presentation: you can find the full presentation on the following link

https://www.neinorhomes.com/shareholders-and-investors/financial-information/corporate-presentations

Conference call: Management will host a webcast to discuss the Strategic Review tonight (April 8^th) at 7pm Madrid / 6pm London time. You can register and participate of the webcast through the following link https://edge.media-server.com/m6/p/qgexyjt2. Phone access will be available for those investors willing to ask live questions during the Q&A session. Please contact the Investor Relations team to get dial-in details.

Roadshow: April 10^th and 11^th in London – Week of April 22^nd Spain, New York and Paris

The Company management will be on the road this week in London, and after the Easter Break in Spain (Madrid and Barcelona), New York and Paris. Please get in touch with our investor relations team ([email protected] and [email protected]) to ensure your slot as the team visits your city.