INVL Baltic Farmland

Investor Presentation • May 10, 2022

Key information for 3 months of 2022

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

8+

years direct experience in the Baltic private equity market

25+ years experience in the Baltic finance and audit Alvydas Banys Indrė Mišeikytė Tomas Bubinas Eglė Surplienė

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 6.80 Share price as of 31 March 2022.

EUR 21.954 mln.

Capitalisation as of 31 March 2022.

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

Key information for 3 months of 2021

	31-03-2020	31-03-2021	31-03-2022
Book value of land, EUR thousand	14,688	15,364	16,520
Cash, EUR thousand	382	701	1,107
Other assets, EUR thousand	710	517	523
Consolidated equity, EUR thousand	13,189	14,121	15,335
Deferred income tax liabilities, EUR thousand	1,507	1,608	1,785
Deferred revenue, EUR thousand	447	481	531
Other liabilities, EUR thousand	637	372	499
Controlled cultivated cropland area, thousand ha	3	3	3
Average rental income per hectare, EUR	206	215	239
Book value of one share (BV), EUR*	4.09	4.37	4.75
Dividend yield, %*	2.5	2.6	3.5
Profit (loss), EUR thousand	01.01.2020- 31.03.2020	01.01.2021- 31.03.2021	01.01.2022- 31.03.2022
Revenue	153	160	177
(Allowance for) reversal of impairment of trade receivables	(31)	(3)	0
Profit before tax	86	122	458
Net profit	69	106	393

*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/

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 27 April 2022 approved to allocate a dividend of EUR 0.24 per share for the year 2021. The dividends for the year 2021 will begin to be paid by 27 May 2022 and they do not decrease equity and BV as at 31 March 2022.

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