The Management Board of Budimex S.A. announces that on 29 August 2023, the General Directorate for National Roads and Motorways, Branch in Olsztyn, informed the Company that its bid had been ranked highest in the tendering procedure regarding: Construction of S16 road: Olsztyn (S51) – Ełk (S61) section Olsztyn – Biskupiec (construction of the second carriageway) section Olsztyn Wschód – Barczewo.

The aforementioned information does not mean selecting the bid of Budimex S.A. as the most advantageous one, as the procedure concerning the bid evaluation has not yet been finally completed.

Bid value: PLN 412,530,636.00 net

Works commencement date: from the date of signing the contract

Works completion date: 39 months from the Commencement Date; winter periods are excluded

Guarantee period for the main works: 10 years

Warranty period: 60 months from the date indicated in the Work Acceptance Certificate

Advance payment: maximum 10% of the Accepted Gross Contract Amount

Payment terms: 30 days from the day of delivery of a correctly issued VAT invoice to the Employer by the Contractor

Bank performance bond: 10% of the Accepted Gross Contract Amount

Maximum amount of contractual penalty paid by the Contractor: 20% of the Accepted Net Contract Amount

The Employer reserves the right to seek damages under generally applicable rules if the amount of loss sustained exceeds the amount of the stipulated contractual penalty.

Other terms and conditions of the contract do not differ from the market standards.

The bid value exceeds the threshold of PLN 172,381 thousand net.