Page 1

OWNERS’ ASSOCIATION RESIDENTIAL COMPLEX SEÑORIO DE ALOHA 1 MINUTES OF THE ORDINARY GENERAL MEETING OF THE OWNERS’ ASSOCIATION OF THE RESIDENTIAL COMPLEX SEÑORIO DE ALOHA Marbella April 26, 2024 At 10.30 a.m. and on the second call, due to there not being the majority of those present as required by law on first call, the owners of the Owners’ Association of the Residential Complex Señorío de Aloha, duly called and summoned by the President, met at the NH Express Hotel in San Pedro Alcántara for an Ordinary General Meeting, with the following agenda: AGENDA: 1º).- PRESIDENT’S REPORT. 2º).- TO PRESENT AND TO APPROVE, WHERE APPROPRIATE, THE ACCOUNTS FOR THE YEAR 2023. 3º).- TO APPROVE THE ACCOUNTS OF OWNERS IN ARREARS, FOR THE PURPOSES PROVIDED FOR UNDER ART. 21 OF THE CONDOMINIUM ACT (L.P.H) ACTIONS TO BE TAKEN AGAINST DEBTORS. OWNERS’ ASSOCIATION DEBTS COLLECTION OUTSIDE SPAIN. 4º).- ELECTION OF THE OWNERS’ ASSOCIATION’S MANAGEMENT POSITIONS. 5º).- OTHER RELEVANT ISSUES: 5.1. Report on the situation with FCCC . 5.2. Update on the situation with Nao Club. 5.3. Information on the Historical Debt Situation of the Owners’ Association. 5.4. Update on water Restrictions due to Drought . Garden and Pool Maintenance Situation. 5.5. Status with works in apartment MEZQUITA, 4-5 IZQ . Alteration of the original building configuration & inadequate Town Hall licences. agreement to initiate legal actions. 6º) BY REQUEST OF THE OWNER OF THE PROPERTY GIRALDA 1- 4 D: - request authorization to open a hole in the exterior wall and install a duct for the kitchen extractor hood.- 7º).- TO APPROVE, WHERE APPROPRIATE, THE BUDGET FOR THE YEAR 2024. 8º).- DIGITAL CERTIFICATE. POWER OF ATTORNEY. DECISION MAKING. 9º).- ANY OTHER BUSINESS. This General Meeting is attended by the owners listed below, indicating their participation quota:

Page 2

Attendance has been omitted online for privacy (GDPR). The full list with names and apartment numbers is available in the original PDF.

Building	Owners Present	Ownership Share (%)
Alhambra	13	6.28
Doñana	8	3.50
Giralda	17	7.43
Mezquita	14	5.77
Triana	12	5.06

Page 3

Attendance has been omitted online for privacy (GDPR). The full list with names and apartment numbers is available in the original PDF.

Building	Owners Present	Ownership Share (%)
Alhambra	13	6.28
Doñana	8	3.50
Giralda	17	7.43
Mezquita	14	5.77
Triana	12	5.06

Page 4

Attendance has been omitted online for privacy (GDPR). The full list with names and apartment numbers is available in the original PDF.

Building	Owners Present	Ownership Share (%)
Alhambra	13	6.28
Doñana	8	3.50
Giralda	17	7.43
Mezquita	14	5.77
Triana	12	5.06

Page 5

Attendance has been omitted online for privacy (GDPR). The full list with names and apartment numbers is available in the original PDF.

Building	Owners Present	Ownership Share (%)
Alhambra	13	6.28
Doñana	8	3.50
Giralda	17	7.43
Mezquita	14	5.77
Triana	12	5.06

Page 6

Attendance has been omitted online for privacy (GDPR). The full list with names and apartment numbers is available in the original PDF.

Building	Owners Present	Ownership Share (%)
Alhambra	13	6.28
Doñana	8	3.50
Giralda	17	7.43
Mezquita	14	5.77
Triana	12	5.06

Page 7

OWNERS’ ASSOCIATION RESIDENTIAL COMPLEX SEÑORIO DE ALOHA 7 At the moment of the beginning of the Meeting, owners who are not up to date with their payments are advised that they will not have the right to vote. Next, and within the agenda, the first point of the day is set out: 1º). - PRESIDENT’S REPORT By the president of the community, Mr. Riley, welcomes and thanks all present in the room for attending, introducing the members of the board, Mr. Jose Antonio Sarria, Lawyer, Mr. Víctor Porras, Inproyect engineer, the Administrators Adenjo Gestión (Mr. Jose-Manuel Ortiz and Mr. David Vázquez), Vice President Mr. Gerry Burke, and the Board’s translator Ms. Laura Wheatley. He states that he will not dwell on the introduction, as there are many points to discuss in the meeting, and that the President’s report with the most relevant information has already been sent with the Call. However, he does want to comment on the notable improvements achieved right across the community by the Sub-contractors responsible for: Cleaning; Gardening; Equipment maintenance; and the Ad-hoc repairs team. On a deeper level, he mentions the successful completion of the first phase of infrastructure projects financed by the 2022 cash call. There is more work to do, but it is important to note that key learnings, for example contract management, will be applied to the future phases of infrastructure repairs. The real estate market in Marbella has experienced a boom in recent years, which has also benefited Señorío. In 2023, there were several high-value sales, and the visible and substantial improvements throughout the community are undoubtedly contributing to higher value appraisals. In this regard, he mentions various repairs, including those related to the pools and water drainage issues in the gardens above the Donaña and Triana garages. In addition, some owners have had repairs to their terraces damaged by rainwater & irrigation systems, and others have had ventilation installed in their storage rooms to combat moisture problems caused by floods. As most will know, debts due from owners over the last 15 years have spiralled out of control, putting the community at significant financial risk. A key initiative in 2023 was to renew efforts in court against debtors. The President cannot say he is pleased with the results so far because the truth is the legal system in this country does not work as efficiently as it should, & it can take years instead of months to get favourable judgements. Nevertheless, the efforts continue. Regarding security the President provides a quick recap. In September 2022, the Community terminated the ‘single-vigilante’ security service with Cofer due to the lack of effectiveness. At that time, the Concierge service was also re-purposed so instead of having a man at the main entrance & generally letting anyone into the community, the new system now has HELP Services personnel in and around the community performing various maintenance tasks and monitoring potential security & anti-social behaviour issues. This system with HELP is working very well, and as suggested by several owners, the number of staff is now being increased to provide 24-hour x 7 days a week coverage.

Page 8

8 Whether it’s painting fire doors in the garages, repairing tiled corridors, re-plastering damaged walls inside the portals, or significantly improving storage room ventilation, the community is getting much better value for money comparing to the previous concierge and one-man security. Imminent roll-out of Access Control will further enhance security. Another problem now faced of concern to owners, is the impact of water scarcity, particularly regarding the pools. The situation changes almost weekly. Currently, the pools are open with conditions, but we are optimistic they can open throughout the summer. The President draws attention to the water savings since the repairs and upgrades to the pools in 2023. In 2022, the water bill was €70,000 and remained at that approximate figure for some time. In 2023, the water bill was approximately €22,000, a saving of almost €48,000 (68% cost reduction). Although rates are increasing due to shortages, we anticipate the pool repair costs will have paid for themselves within 4 years. Electricity savings. The initiative to use an external electricity consultant reduced the year on year cost in 2023 from €53,000 to €40,000, representing a saving of 24%. The electricity market has been competitive again, and the President reminds that if you haven’t already, you should look around for the best deals. Speaking on cost inflation. Although we are seeing cost increases from subcontractors, we have been able to offset some of these from the significant savings on utilities. However, a 7% increase in fees is proposed in the belief that it is absolutely necessary to maintain the aggressive maintenance program that is now underway. At the same time some sub-contractors are changing either to save more money or, as with the elevator company, to ensure a more reliable service. Regarding reform works, illegal modifications can make the community look more like a gypsy camp and can also lead to a reduction in the prestige and value of the Community. With this in mind, Adenjo have approached reform owners and requested copies of their building permits and access to their properties to ensure a mutually beneficial outcome. Unfortunately, many owners have had to endure neighbouring illegal reforms that last for months. Many reforms owners/real estate agents are simply negligent and not interested in cooperating to minimise impact on the community. Therefore, in January, an Extraordinary General Meeting was held to approve legal actions against an illegal renovation where there were at least 7 breaches of community rules and Spanish legal standards. The intention is to take legal action against reforms where owners do not cooperate with the Administration or do not comply with the rules & laws. In addition, in 2023, there were significant issues with both short-term and some long- term rental tenants. Many of the same problems occur in other popular rental communities, and there is a growing trend to ban short-term rentals, especially those associated with Airbnb. In Spain, regional and local councils are also starting to take action, partly to protect the housing market for local populations and workers but also to constrain criminal and antisocial activities. The President believes it is now necessary for the community to be more proactive on this issue. He would also like to draw attention to ‘owner participation’ in the life of the Community, pointing out that in almost all well-managed communities, there are volunteers with assigned responsibilities. After assessing Señorío’s issues, he has requested volunteers at the last two annual meetings. New issues, such as unsupervised reforms, various forms of antisocial behaviour, and broader problems such as the NAÔ Pool Club, are best addressed with help from volunteers who can see these matters from an owner’s perspective and work

Page 9

OWNERS’ ASSOCIATION RESIDENTIAL COMPLEX SEÑORIO DE ALOHA 9 together with the community’s professional staff to find suitable solutions. Being a volunteer does not necessarily imply living in the community or having specialized knowledge. For the record, the owner of Alhambra 1, 2nd Floor (Mrs. Montes), expresses her willingness to volunteer in drafting regulations or any other matter requested by the President. 2º). TO PRESENT AND TO APPROVE, WHERE APPROPRIATE, THE ACCOUNTS FOR THE YEAR 2023. Taking the floor to present the accounts for the fiscal year 2023 is Mr. Gerry Burke, vice president and professionally qualified chartered accountant, who outlines the Owners’ Association’s financial situation. He notes that the Balance Sheet at the end of the year indicates that the Owners’ Association has a net worth of 267,000 euros, but this, in real terms, is close to zero given that the owners’ balances of 453,000 euros include a significant amount of unrecoverable old debts. However, there has been an improvement compared to previous years, where prudent management of cash balances has allowed the recovery of approximately 150,000 euros of old creditor balances. The community can now pay suppliers in a timely manner, and the only old balance included in the 292,000 euros ‘amounts owed to suppliers’ (Creditors) is the debt to Pinturas JJ of 138,000 euros, which is still subject to legal proceedings. Efforts to collect cash from owners (current and overdue) have continued, and the overall cash flow is now positive. The Balance Sheet includes a deferred credit of 79,000 euros, being the unspent amount of the special assessment/cash call of 500,000 euros at the end of 2023. The balance of 79,000 euros represents the full collection of the cash call, but this is reduced to 48,000 euros since 31,000 euros (6%) of the cash call are still not collected. Mr. Burke addresses various questions posed by attendees regarding the accounts for the fiscal year 2023. After examining the accounts, they are unanimously approved by those present and represented, closing with a positive accounting balance of three hundred fifty-nine thousand one hundred ninety-four euros and eighty cents (€359,194.80); included in this balance are the amounts of the cash call with ongoing work, creditors, and outstanding invoices at