INVL Baltic Real Estate

Pre-Annual General Meeting Information • Aug 1, 2022

RECOMMENDATION

1 August 2022 Vilnius

The Investment Committee of INVL Baltic Real Estate (hereinafter - "the Company"), considering the provisions of the Company's Articles of Association and having evaluated the draft of the proposed decision, which is submitted for consideration to the Company's Extraordinary General Meeting of Shareholders on 23 August 2022, informs that:

• 1. The Company's Shareholders are proposed to make a decision regarding the participation of INVL Baltic Real Estate in the reorganisation and the preparation of the terms of the reorganisation, considering that:
  2. a) In June 2022, INVL Baltic Real Estate acquired 100 percent of RE 1, AB shares, which owns a nonresidential premises-cafe located at Vilniaus st. 37, Vilnius. Another part of the property located at the same address is owned by the Company. Since the Company plans to develop this property in the future, and in addition, all other real estate is always directly acquired by the Company itself, there is a need for this property to belong directly to the Company as well.
  3. b) such a decision will not violate the interests of Company's Shareholders.
  4. c) the negative consequences of the decision for the Company's activities are envisaged in 2022.
• 1. Acting on behalf of INVL Asset Management, UAB, the Investment Committee recommends to the Shareholders of the Company to approve the decision regarding the Company's participation in the reorganisation and preparation of the reorganisation conditions, at the Extraordinary General Meeting of Shareholders of the Company which will take place on 23 August 2022.

INVL Baltic Real Estate

On behalf of the Investment Committee

Vytautas Bakšinskas