INVL Baltic Farmland

Fund Information / Factsheet • Jul 25, 2023

Key information for 6 months of 2023

INVL Baltic Farmland, AB was established on 29 April 2014 on the basis of a part of assets split-off from Invalda INVL, the leading investment management and life insurance group in the Baltic region.

INVL Baltic Farmland manages shares of companies investing into agricultural land. INVL Baltic Farmland has 100% in 18 companies own 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 Baltic finance and audit market

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 7.0 Share price as of 30 June 2023.

EUR 22.600 mln.

Capitalisation as of 30 June 2023.

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

Key information for 6 months of 2023

	30-06-2021	30-06-2022	30-06-2023
Book value of land, EUR thousand	15,364	16,520	18,092
Cash, EUR thousand	164	207	140
Other assets, EUR thousand	455	406	301
Consolidated equity, EUR thousand	13,734	14,650	15,869
Deferred income tax liabilities, EUR thousand	1,609	1,786	2,012
Deferred revenue, EUR thousand	320	354	379
Other liabilities, EUR thousand	320	343	273
Controlled cultivated cropland area, thousand ha	3	3	3
Average rental income per hectare, EUR	215	239	256
Book value of one share (BV), EUR*	4.25	4.54	4.92
Dividend yield, %*	1.7	2.9	2.1
Profit (loss), EUR thousand	01.01.2021- 30.06.2021	01.01.2022- 30.06.2022	01.01.2023- 30.06.2023
Revenue	320	358	379
(Allowance for) reversal of impairment of trade receivables	-	-	2
Profit before tax	236	564	238
Net profit	203	483	218

*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 "Investor relations" → "Financial information and reports" → "Indicator formulas". The link is provided: https://invlbalticfarmland.com/en/investorrelations/financial-information-and-reports/

BV*, %
31 December 2020	16.4
31 March 2021	30.4
30 June 2021	103.5
30 September 2021	47.2
31 December 2021	66.3
31 March 2022	43.2
30 June 2022	80.6
30 September	57.5
31 December 2022	62.0
31 March 2023	54.7
30 June 2023	42.3

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 29 March 2023 approved to allocate a dividend of EUR 0.15 per share for the year 2022. The dividends for the year 2022 were paid from 27 April 2023.

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