Slajd 1

Meeting agenda2ContentsYear 2012 - time of multiplying the Company's assets, completion of implemented investments and preparation of future projects bank4Doubling tangible assets5The most important events in 20126Factors influencing the Company's activity in 20128Sales of apartments in 20129Selected consolidated financial data for the fourth quarter of 201210Selected consolidated financial data for 210211Implementation of the gross profit on sales in 2012 12Premises from an offer for recognition in results of subsequent quarters13Implemented investments in 2012 - housing spaces14

2Meeting agenda3ContentsImplemented investments in 2012 - commercial spaces15Investments planned to start 16The strategy for next years17Selected projects implemented in 2012: Rezydencja Redowo18Selected projects planned to start in 2013: Miasteczko Kasprzaka19Selected projects planned to start in 2013: Osiedle Millenium20

3Year2012 - time of multiplying the Company's assets, completion of implemented investments and preparation of future projects bankIn 2012, the Company was implementing a construction of 3 commercial-hotel projects with a usable floor area of almost 60,000 m2 in : Szczecin, Krynica Zdrj and SopotSome upgrading works were carried out in Hotels 500 Developer of housing space4Developer of commercial spaceIn 2012, the construction of 9 housing projects were carried out simultaneously (including 1 investment in General Contarcting) Purchase completion of a plot of land at Kasprzaka Street, where an investment comprising nearly 3,000 units and 70,000 m2 of usable floor space will be erectedIntensive works on the preparation to launch new investments in Warsaw, d, Gdynia and Katowice were carried out

4Doubling tangible assets5Doubled values of tangible assets and investment properties in the period of 2.5 year:

+98%+16%The rate of growth of debt was lower than the growth rate of fixed assetsTangible assets and investment propertiesDebt interest

5Meeting agenda6The most important events in 2012 Finalization of land acquisition and adoption of a conceptual design of a residential-services complex at Kasprzaka Street in Warsaw.

PLN 155 mil net the value of a purchased landca.3,000 units and 70,000 m2 of US; 5 stages of the investment implementation

Opening of a hotel complex of Czarny Potok Hotel Resort & SPA in KrynicaZdrj in September:

PLN 200 mil the value of a market valuation 231 luxurious rooms; 500 seats in conference rooms, luxurious SPAin less than 3 months after opening, the Hotel was recognized as Investment of the Year 2012(a prize awarded by the National Central Bureau of Certification, appreciating both innovative design and the highest standard of a luxury complex).

Czarny Potok Hotel Resort&SPA

6 Meeting agenda7The most important events in 2012 Obtaining a building permit for construction 2 housing estates in Gdynia at Powstania Wielkopolskiego and in Katowice at Tysiclecia Street

Construction completion of 5 housing investments and 2 commercial projects:

Osiedle wiatowida - WarsawOsiedle Zielona Dolina I - WarsawOsiedle Lewandw (build. 3-6) - WarsawVilla Campina Oarw Mazowiecki (multifamily buildings)Osiedle Centrum II - dSopot Guest-house Czarny Potok Hotel Resort & SPA - Krynica Zdrj

Acquisition of new loans with an approximate total value of PLN 100 mil.

Prizes and awards:

Golden Statuette POLISH HERCULES 2011 in the category: POLISH PROPERTY DEVELOPER1st place in CIJ Journal for the best developer in the Central - Eastern Europe in times of crisisThe Company was ranked in "500 Ranking" of Bloomberg Businessweek PolandJWCH S.A was on the " List of 200 biggest Polish enterprisers" selected by Rzeczpospolita daily.

7 External factors influencing the Company's activityFactors influencing the Company's activity in 2012The restrictive policy of banks in terms ofgiving mortgage creditsHigh interest rates in the financial market of WIBOR - limiting the creditworthiness of the Company's customersThe last months of "Family on its Own" programGreat demand for flats on the primary marketDeveloper Act -restrictions in developer financingPressure to decrease flat pricesNEGATIVEReady flats in the offer of the CompanyChange of the investment strategy - flexibility of organizational structures in relation to the needs of the market (system of General Contracting)Intense competition on the market of contractors - the availability of attractive prices, thereby lowering production costsStable prices on the market of buildingmaterialsPOSITIVE8

9J.W. Construction Holding S.A in 2012 sold 853 units, including 306 in Q4, what according to Rzeczpospolita newspaper gives the Company the 2nd place in the ranking on a number of sold flats

Sales of apartments in 2012Including: * 30 premises in OXYGEN investment** 61 premises in OXYGEN investment

***

910Selected consolidated financial data for the fourth quarter of 2012Increase in revenues from sales in Q4 by 63.1% y/y

Increase in gross margin on sales in Q4 2012 by 1 p.p y/y. Selected financial dataQ4 2011Q4 2012Change Q/QRevenues from salesPLN 88.4 milPLN 144.2 mil+63.1%Gross profit on salesPLN 16.9 milPLN 29.0 mil+71.6%Gross margin on sales19.1%20.2%+1,1 p.p.Operating profit PLN 6.4 milPLN 18.0 mil+181.3%Net profit PLN 1.2 milPLN 7.1 mil+491.7%

1011Selected consolidated financial datafor 2102Selected financial data2011 2012Changes y/ yRevenues from salesPLN 378.6 milPLN 355.6 mil-6.1%Gross profit on salesPLN 101.4 milPLN 80.4 mil-20.7%Gross margin on sales26.8%22.6%-4,2 p.p.Operating profit PLN 63.9 milPLN 59.6 mil-6.7%Net profit PLN 31.3 milPLN 9.6 mil-69.3%Decrease in revenues from sales in 2012 by 6.1% y/y

Maintaining gross margin on sales in 2012 at a good level. Slight decrease in 2012 by 4.2 p.p y/y

1112Implementation of the gross profit on sales in 2012 The level of gross profit earned from sales for 2012 is PLN 80.37 mil of which PLN 56.48 mil is from developer projects. The percentage of developer projects recognized in profit from sales:

Units recognized in results in 2012 vs 2011:

1213Premises from an offer for recognition in results of subsequent quarters

* in units

*13 14Implemented investments in 2012 - housing spaces Osiedle Zielona Dolina IOsiedle Villa CampinaOsiedle Centrum IIOsiedle Lewandw I build. 3-6Osiedle wiatowida OazaPitkowoOsiedle OXYGENRezydencja Redowo

Houses"Villa Campina"2,050UFSNumber of units

Houses"Villa Campina"12* Investment implemented in General Contracting1415Implemented investments in 2012 - commercial spaces In 2012,the Company was executing commercial-hotel projects with a total usable floor area of almost 60,000 m2.InvestmentUsable Floor SpaceHanza Tower in Szczecin- level "zero" done36,328 m2Hotel "Czarny Potok" in Krynica Zdrj- commissioned20,500 m2Luxurious guest-house in Sopot- commissioned2,852 m2Luxurious guest-house in SopotHotel 4* Czarny Potok Hotel Resort&SPAHanza Tower

1516Investments planned to start During the next two years, the Company, on a basis of an owned land bank, plans to start the implementation nearly 6,100 units:Investments in Warsaw and vicinityInvestments beyond Warsaw*Investments which are planned to start in 2013 are in green colourInvestment Number of unitsUFS Katowice, at Tysiclecia Street, Stage II 53625,411 m2Katowice, at Tysiclecia Street, Stage I 1497,040 m2 Katowice, at Batycka Street 25914 467 m2 Gdynia, at Spokojna Street, Stage II 23613,614 m2Gdynia, at Spokojna Street, Stage I 19611,306 m2 d, at Tymienieckiego Street III 1085,165 m2 Gdynia, at Sochaczewska Street513,600 m2 Total: 1,53580, 603 m2Investment Number of unitsUFS Warsaw, at Kasprzaka Street, Stage II 96541,725 m2 Warsaw, Zielona Dolina II 86438,258 m2 Warsaw, at Kasprzaka Street, Stage V76533,270 m2Warsaw, at Kasprzaka Street, Stage III 56424,538 m2Warsaw, at Kasprzaka Street, Stage IV 55824,258 m2Warsaw, at Berensona Street 26311,663 m2 Warsaw, at Antoniewska Street23413,864 m2Warsaw, at Kasprzaka Street, Stage I 1567,550 m2 Warsaw, Aluzyjna II 684,080 m2 Warsaw, Odkryta II824,158 m2Warsaw, at Aluzyjna Street I 301,800 m2 Total: 4,549205,164 m2

1616The strategy for next years17To start the biggest number of new residential projects offering faster, current cash flow and return on investment from previously purchased plots.

To intensify works related to the preparation of project documentation and obtaining building permits

To strengthen the leader position both among developers in Warsaw (on the basis of an owned extensive land bank), and across the country, due to its expansion into other areas of Poland Tri-City market, d, Katowice, Pozna

Reduction and postponement of commercial and hotel projects, acquisition of partners for implementing these projects is being considered

Selective acquisition of new locations and reducing the scale of construction land bank

Active actions toward non-performing assets

Continuing the reduction of fixed costs, including overhead costs, through an internal reorganization of the CompanyTHE MOST IMPORTANT STRATEGIC AIMS

1718Selected projects implemented in 2012:Rezydencja RedowoLocation: Gdynia, RedowoNumber of flats: 52UFS: 3,259 m2Project's net value:about PLN 27 mil

Description:Modern housing in a cosy and low-rise developmentFunctional and perfected floor-plans of apartments with an area from 38 to 96 m2The community is fully fenced, monitored with physical protection.Excellent location, Kpa Redowska reservation close by

1819Selected projects planned to start in 2013:Miasteczko Kasprzaka

Location: Wola, WarsawNumber ofunits: 156 in Stage I, 965 in Stage II(arget number of units in the investment: 3.000)1st stage UFS: 7,550 m2 2nd stage UFS: 41,725 m2Services- trade-offices: target: about 70,000 m2Project's net value: about PLN 53 mil for Stage 1 about PLN 298 mil for Stage 2 Description:StagingVery good location - just 3km to the city centreNumerous transport nodes in the areaShopping mall: modern cosy spaces

1920Selected projects planned to start in 2013:Osiedle MilleniumLocation: Katowice, Os.Tysiaclecia Number of flats: 149 in Stage I(target number of units in the investment: 685)1st stage UFS: 7,040 m2Project'snet value: about PLN 35 mil

Description:StagingVery good location - just 5 minute drive to the city centreWell developed communication infrastructureShopping mall: Silesia City CenterThe proximity of green and recreational areas

2021Investor Relations:Magorzata Szwarc-SrokaEconomy Division and Investor Relations Office HeadDirector of Economic and Director of Investor Relations J.W Construction Holding S.A.Member of Management Board of J.W Construction S.A.phone: 22 771 77 85e-mail.: relacje.inwestorskie@jwconstruction.com.pl

21Wykres14427312.57880.07838673899664170.01840.17110668358785801.92870.155554944411232010.171260.19886570784229979.65530.07489290746747986.241290.11947487945399899.28420.092718034.16290.0481235131676262.99320.02967867911598920.11390.028309303

SprzedaKolumna1Kolumna2

Arkusz1SprzedaKolumna1Kolumna2Villa Campina - b.blocks (88 pcs)4427312.57888%Grczewska Park (84 pcs)9664170.018417%Lewandw II (87 pcs)8785801.928716%Lewandw bud. 3-6 (126 pcs)11232010.1712620%Lewandw I (53 pcs)4229979.65537%d Tymienieckiego II (129 pcs)6747986.2412912%wiatowida (42 pcs)5399899.28429%Bursztynowe Osiedle (29 pcs)2718034.16295%Zielona Dolina I (32 pcs)1676262.99323%Other (39 pcs)1598920.11393%Aby zmieni rozmiar zakresu danych wykresu, przecignij prawy dolny rg zakresu.pozostae-56,480,377dew56,480,377Pozostaa dziaalno0%

Wykres1968709

Kolumna1

Arkusz1Kolumna120119682012709Aby zmieni rozmiar zakresu danych wykresu, przecignij prawy dolny rg zakresu.

Wykres11671564288183142123106825652411915

Kolumna1

Arkusz1Razem:Kolumna1Total1671Zielona Dolina I564Villa Campina - b. blocks288Oaza Pitkowo183wiatowida142d Tymienieckiego II123Lewandw II106Lewandw build. 3 - 682Grczewska Park56Rezydencja Redowo52Lewandw I41Other19Bursztynowe Osiedle15Aby zmieni rozmiar zakresu danych wykresu, przecignij prawy dolny rg zakresu.