INVL Baltic Farmland

Fund Information / Factsheet • May 9, 2024

Key information for 3 months of 2024

INVL Baltic Farmland, AB was established on 29 April 2014 on the basis of a part of assets split-off from one of the leading asset management groups in the Baltic region Invalda INVL.

INVL Baltic Farmland manages shares of companies investing into agricultural land. INVL Baltic Farmland has 100% in 18 companies owning aproximately 3 thousand hectares of agricultural land in Lithuania.

Companies - land owners and joint-stock company INVL Baltic Farmland, on 30 June 2015 have signed a Basic Property Administration Agreement with INVL Farmland Management which administrates agricultural land owned by the companies in order to ensure steady growth of income for the shareholders and the value of the land. On 28 December 2020, the Agreement's Amendment was concluded, based on which the term of the Basic Property Administration Agreement was extended until 31 December 2025.

Shares of INVL Baltic Farmland are listed on Nasdaq Vilnius stock exchange Secondary list since 4 June 2014.

The land plots which the company owns are in the most productive regions of Lithuania. They're indicated in blue

Main characteristics of INVL Baltic Farmland shares admitted to trading
Shares issued and total voting rights granted by the issued shares, units	3,291,549
Number of votes for the quorum of the General Shareholders Meeting, units	3,228,510
Nominal value for one share, EUR	0.29
Total nominal value, EUR	954,549.21
ISIN code	LT0000128753
Exchange, List	AB Nasdaq Vilnius, Secondary list

The Board of INVL Baltic Farmland (term of office 2022-2026) and the Manager (director)

25+

years in the Baltic private equity and asset management market

10+ Alvydas Banys Indrė Mišeikytė Tomas Bubinas Eglė Surplienė

years direct experience in the Baltic private equity market

25+ years experience in the

market

Baltic finance and audit

25+

experience in the Baltic securities market

INVL Baltic Farmland shareholders with over 5% of the authorized capital and / or votes and votes held by the Company's managers

EUR 6.40 Share price as of 31 March 2024.

EUR 20.662 mln.

Capitalisation as of 31 March 2024.

For more information please visit: https://invlbalticfarmland.com/

Key information for 3 months of 2024

	31-03-2022	31-03-2023	31-03-2024
Book value of land, EUR thousand	16,520	18,092	20,756
Cash, EUR thousand	1,107	758	566
Other assets, EUR thousand	523	404	497
Consolidated equity, EUR thousand	15,335	15,770	18,407
Deferred income tax liabilities, EUR thousand	1,785	2,009	2,426
Deferred revenue, EUR thousand	531	569	600
Other liabilities, EUR thousand	499	906	386
Controlled cultivated cropland area, thousand ha	3	3	3
Average rental income per hectare, EUR	239	256	270
Book value of one share (BV), EUR*	4.75	4.88	5.70
Dividend yield, %*	3.5	2.0	1.9
Profit (loss), EUR thousand	01.01.2022- 31.03.2022	01.01.2023- 31.03.2023	01.01.2024- 31.03.2024
Revenue	177	190	200
(Allowance for) reversal of impairment of trade receivables	0	1	(4)
Profit before tax	458	122	133
Net profit	393	119	113

*The Company publishes Alternative performance measures (AVR), that are in use of the Company, provides indicators definitions and calculation formulas. All the information is disclosed in the Company's web site section "Intestor relations" → "Financial information and reports" → "Indicator formulas". The link is provided: https://invlbalticfarmland.com/en/investorrelations/financial-information-and-reports/

BV*, %
30 September 2021	47.2
31 December 2021	66.3
31 March 2022	43.2
30 June 2022	80.6
30 September 2022	57.5
31 December 2022	62.0
31 March 2023	54.7
30 June 2023	42.3
30 September 2023	50.5
31 December 2023	27.0
31 March 2024	12.3

INVL Baltic Farmland, AB schedule of dividends allocated per share since the beginning of the Company's operations

In 2018 the General Shareholders Meeting of the Company approved the new Dividend Payment Policy. According to the Policy, it is decided to allocate EUR 0.10 dividend per share.

The Annual General Shareholders Meeting of the Company held on 10 April 2024 approved to allocate a dividend of EUR 0.12 per share for the year 2023. The dividends for the year 2023 will be paid from 10 May 2024.

For more information please visit: https://invlbalticfarmland.com/