ECO INVESTMENT | DIANA ÉVORA Source-based corporate and project overview — 8 October 2026 GC ECOPT INVESTMENT Avenida da Liberdade, nº 245 – 4 E, Lisbon, Portugal NIF: 516771264 Project enquiries: Gonçalo Soeiro — goncalo.soeiro@ecogcinvestment.com Architecture: João Azougado — joao.azougado@ecogcinvestment.com Engineering: Paulo Soares — paulo.soares@ecogcinvestment.com THE DEVELOPMENT Horta do Bispo, Évora, Alentejo; approximately 400 metres from the historic city walls according to the project pitch. Planned four-star hotel: 40 double rooms in Block A (17 on Level 1 / entry level; 23 on Level 2). 28 serviced apartments in Blocks B and C, integrated with hotel operations. Hotel facilities: reception, 32-seat restaurant/bar, wellness area, outdoor swimming pool and multi-purpose space. Basement: parking, technical plants, staff changing rooms and storage. The June study identifies 16 parking spaces allocated to the hotel. Selected existing buildings are to be retained and refurbished alongside new construction. The pitch reports a favourable PIP opinion and licensing underway. The June study describes preparation of the formal submission. Neither supplied document constitutes a final building licence. SCENARIO A — DIANA ÉVORA V3 STRATEGIC PARTNERSHIP Preliminary entire-project development budget: approximately EUR 14.6m. EU grant support stated in the pitch: approximately EUR 4.1m. Indicative net partner funding: approximately EUR 10.5m. Partner contributes capital and delivery capability and assumes construction, completion and cost-overrun risks. Partner is proposed to receive the completed 40-key hotel, associated facilities and long-term operating rights, subject to legal and technical subdivision. Owner contributes the land, project, development work and grant support and retains 28 completed apartments, approximately 1,807 m² above-ground gross private area, subject to definitive transaction terms. Proposed apartment arrangement: approximately 10-year exclusive operating/master lease, possible 2–3-year rent-free or reduced-rent stabilisation, followed by minimum guaranteed rent and/or revenue sharing. Terms remain negotiable. Indicative existing project valuation: EUR 3.0m; plus EUR 4.1m grant contribution gives approximately EUR 7.1m owner economic contribution against EUR 10.5m partner contribution (roughly 40%/60%). This is not an agreed equity split. Potential owner cash equalisation of EUR 0.5m–1.0m is discussed, subject to valuation, grant terms, the final budget and negotiation. SCENARIO B — JUNE 2026 ECONOMIC AND FINANCIAL FEASIBILITY STUDY Budget excluding VAT: EUR 11,257,600. Proposed equity/shareholder contributions: EUR 6,259,180 (55.60%). Proposed PT2030 funding: EUR 4,998,420 (44.40%). The study identifies Opportunities Fund 3 with 49% of the hospitality management company and anticipates a 45% grant rate on eligible expenditure, excluding working capital. Standalone project indicators: NPV EUR 3,226,480 at a 7% discount rate; IRR 11.36%; payback 10 years assuming an exit at the end of the tenth year. These indicators are based on total project investment, independent of financing sources. They are not grant-adjusted investor equity returns. Operating assumptions include third-year stabilisation, 61.65% stabilised hotel occupancy, 1.74 guests per occupied room, apartment occupancy one-third below the hotel, apartment ADR 50% above hotel rooms, a 30% apartment management fee, and 24 operational employees. Revenue streams include hotel accommodation, food and beverage, wellness, workshops, VR experiences and tourist-apartment management. PLANNED GUEST EXPERIENCES AND SUSTAINABILITY Roman Évora VR; a Heritage Companion App with pre-arrival services, digital check-in, cultural challenges, bookings, voice/text AI concierge and post-stay digital memories. V3 programme: Alentejo Table and regional cooking, wine tastings, winery visits, pottery, ceramics, cork workshops, exhibitions, stargazing and biodiversity. Estimated energy-efficiency improvement: approximately 47% against conventional hotel solutions. Proposed energy measures include bio-based materials, efficient glazing, heat pumps, heat recovery, water efficiency, photovoltaic generation, battery storage, solar thermal hot water, intelligent monitoring and predictive maintenance. Final specifications remain subject to design development. ILLUSTRATIVE WEBSITE CALCULATOR Uses the June feasibility budget as the project-cost reference, with separate illustrative room operating assumptions. Revenue = 40 rooms × 365 days × occupancy × average daily room rate. Operating cash contribution = revenue × operating cash margin. Net project cost = EUR 11,257,600 minus grant received. Yield = operating cash contribution / net project cost. Simple operating payback = net project cost / operating cash contribution. Excludes apartment income, other hotel revenue, financing, taxes, replacement capital expenditure, ramp-up and time value of money. It does not calculate IRR or NPV. Its simple payback is not the study's exit-based payback. SOURCE STATUS Sources: supplied Diana Évora_v3(1).pptx (27 slides) and Evora 3 BP(1).pdf (June 2026, 38 pages). These are distinct sponsor-provided scenarios and must not be combined. The pitch reports a secured grant, while the feasibility study uses proposed/conditional grant assumptions; award documentation and current availability require verification. All figures and plans are subject to due diligence and definitive documentation. No guaranteed returns. This is a corporate introduction, not an offer of securities. V3 funding options: potential partial financing through Banco Português de Fomento or up to EUR 3m in RFAI corporate income tax credits, subject to eligibility and approval. ECO offers support with the process at no additional cost.