Louis. Hello.

Please find attached the response from our legal team addressing the questions you raised.

Kind regards,

Saba

Saba Tsiskaradze
Next White Hotel Manager
M [Phone number redacted]

[Standard confidentiality notice and website link omitted]

[Company letterhead/logo]

From: Gvantsa Lomadze <g.lomadze@nextgroup.ge>
Sent: Tuesday, 07 July 2026 17:00:48
To: Saba Tsiskaradze <s.tsiskaradze@nexthotels.ge>; Legal Department
<LegalDepartment@nextgroup.ge>; After Sales <AfterSalesGroup@nextgroup.ge>
Cc: Levan Otarishvili <l.otarishvili@nexthotels.ge>; Tornike Tsiklauri
<t.tsiklauri@nexthotels.ge>
Subject: Re: Request for Documents and Information

Hello Saba,

I am sending the answers to all the questions, except for the matter raised in point 4 regarding the gas meters, which is within the competence of After Sales.

We respectfully note that we are not in a position to provide copies of agreements concluded between our company and the previous owner, Mr. [redacted], as such agreements constitute confidential contractual documents between the respective parties.

Rather, pursuant to the terms of the Preliminary Sale and Purchase Agreement executed between the buyers and the Developer, every purchaser undertook the obligation to execute the Management Agreement and the Common-Area Service Agreement upon registration of ownership.

This requirement exists because NEXT White is a multifunctional residential complex operating with the status of a touristic enterprise. The apartments form part of a unified reservation and management system through which units may be made available to third parties with rights of use for the purpose of generating income. In connection with the operation of the project, the Developer has undertaken corresponding obligations before the competent governmental authorities to ensure the proper management and servicing of the complex.

We are unable to identify the specific obligation or encumbrance referred to in your request. To the extent your question concerns any registered encumbrance or obligation affecting apartments 16-11 and 16-12, no such encumbrance or obligation is registered in the Public Registry with respect to these units.

As explained above, the obligation to execute the Management Agreement and the Common-Area Service Agreement is directly connected with the operational model of the NEXT White multifunctional residential complex and the obligations undertaken by the Developer in relation to the management and operation of the complex as a touristic enterprise.

The common-area service fees have been charged from the date on which the relevant management and maintenance services were factually commenced.

The commencement of such services is independent of the formal commissioning (acceptance into exploitation) of the building. The commissioning process depends not only on the Developer but also on the convening of the competent commission by Batumi City Hall and the completion of the applicable administrative procedures. Accordingly, the absence of formal commissioning does not affect the actual provision of common-area services or the Owner's rights in relation to the apartment.

Moreover, since the commencement of operations, the Developer has been providing the necessary common-area management and maintenance services, from which the Owner benefits and which ensure the proper functioning, safety, and maintenance of the complex, including but not limited to: illumination of common areas, administrator services, cleaning and maintenance of common areas, including the yard, operation and maintenance of common communication networks, including water pumps and sewage systems, operation and maintenance of the CCTV system, security alarm services within the scope of administrative management, operation of elevators through card access or another applicable access-control system, etc. These services are provided for the benefit of all owners and users of the complex and are necessary for maintaining the functionality, safety, and proper operation of the multifunctional residential complex.

Kind Regards,
Gvantsa Lomadze

Lawyer

Tel: [Phone number redacted]
Address: Georgia, Batumi, Merab Kostava N20

[Company letterhead/logo]

[Standard confidentiality notice and website link omitted]

From: Saba Tsiskaradze <s.tsiskaradze@nexthotels.ge>
Sent: Monday, July 6, 2026 12:09 PM
To: Legal Department <LegalDepartment@nextgroup.ge>; After Sales
<AfterSalesGroup@nextgroup.ge>
Cc: Levan Otarishvili <l.otarishvili@nexthotels.ge>; Tornike Tsiklauri
<t.tsiklauri@nexthotels.ge>
Subject: FW: Request for Documents and Information

Greetings,

Please review the email from the owner of apartment 1611/12, Luís Fernando Schultz Xavier da Silveira, and return the information within the stated deadlines.

I confirm that the email sent to me has been forwarded to the relevant departments.

Kind regards,

Saba.

Saba Tsiskaradze
Next White Hotel Manager
M [Phone number redacted]

[Standard confidentiality notice and website link omitted]

[Quoted previous correspondence omitted]