INVL Baltic Farmland

Fund Information / Factsheet • May 10, 2023

Key information for 3 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, one of the leading asset management groups 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 7.55 Share price as of 31 March 2023.

EUR 24.375 mln. Capitalisation as of 31 March 2023.

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

Key information for 3 months of 2023

	31-03-2021	31-03-2022	31-03-2023
Book value of land, EUR thousand	15,364	16,520	18,092
Cash, EUR thousand	701	1,107	758
Other assets, EUR thousand	517	523	404
Consolidated equity, EUR thousand	14,121	15,335	15,770
Deferred income tax liabilities, EUR thousand	1,608	1,785	2,009
Deferred revenue, EUR thousand	481	531	569
Other liabilities, EUR thousand	372	499	906
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*	4.37	4.75	4.88
Dividend yield, %*	2.6	3.5	2.0
Profit (loss), EUR thousand	01.01.2021- 31.03.2021	01.01.2022- 31.03.2022	01.01.2023- 31.03.2023
Revenue	160	177	190
(Allowance for) reversal of impairment of trade receivables	(3)	0	1
Profit before tax	122	458	122
Net profit	106	393	119

*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 2020	20.5
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 2022	57.5
31 December 2022	62.0
31 March 2023	54.7

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 and they decreased equity and BV as of 31 March 2023.

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