Invalda INVL

Fund Information / Factsheet • Apr 8, 2022

INVALDA INVL: Y2021 RESULTS' FACTSHEET

IIIyon vilalos	VI.VI.ČVIII	VI.VI.ČVĆI		VI. 16.6V6	12 11/21/11 2 2 2 1
OMX Vilnius	409.65	816.64	966.13	135.84	18.31 Î
Invalda INVL	1.989 EUR		7.60 EUR	754.70	123.68

• (a company controlled by A.Banys)
• UAB Lucrum Investicija (a company controlled by D.Šulnis) Alvydas Banys
  -
• Company's own shares

						INVALDA INVL: Y2021 RESULTS' FACTSHEET
Invalda INVL is an	asset	management group	that is open,	growing and	investing, and its		Group's		Company's
activities create	wellbeing for	people.				EUR thousand	2020	2021	2020	2021
The Group companies	operating	in Lithuania	and Latvia	provide services	to more than 260	Non-current assets	80,665	115,961	83,737	120,933
thousand individual INVL Group to	and institutional manage EUR	regional 1.6 billion in	and international different asset	clients, entrusting classes, such	the Invalda as pension and	Current assets	9,715	16,064	1,672	4,796
investment funds,	individual	portfolios, private	equity and	other alternative	investments.	Equity	83,357	121,355	83,157	121,207
Founded in 1991	by a group	of academics	to accumulate	funds and carry	out investment	Non-current liabilities	3,783	5,678	1,458	2,978
activities. Over its	history Invalda	INVL has	executed deals	worth more than	EUR 1.7 bln.	Current liabilities	3,240	4,992	794	1,544
Listed on the stock exchange since 1995.						Result before taxes	5,329	39,595	5,209	38,879
				Changes in Invalda INVL share price and OMX Vilnius index over 10 years		Net result	5,373	37,479	5,329	37,453
850						Net result attributable to holders of the parent Company	5,329	37,453	-	-
750						Calculation of the net asset value of Invalda INVL
650						EUR thousand	Evaluation criteria		2020	2021
550 450						Investment into asset management	Equity method		13,930	27,473
350						Investments into INVL Baltic Sea
250 150						Growth Fund (commitment to invest is excluded)	Fair value of net assets		7,492	15,597
50 -50						Investments into INVL Baltic Real Estate (including loans granted)	Market price		9,228*	4,402
2011 2012	2013 2014	2015 2016	2017	2018 2019	2020 2021	Investments into Moldova Agroindbank	Comparative method of multipliers		7,352	15,723
	01.01.2011	01.01.2021	31.12.2021	Change (%) since Jan. 2011	Change (%) in 12 months 2021	Investments into INVL Technology	Market price		3,808	5,134
Index/Shares OMX Vilnius	409.65	816.64	966.13	135.84	18.31	Investment into investment fund	Fair value of net assets		1,335	1,370

Calculation of the net asset value of Invalda INVL

						EUR thousand
				Changes in Invalda INVL share price and OMX Vilnius index over 10 years
						Net result attributable to holders of
						Calculation of the net asset value of Invalda INVL
						Investments into INVL Baltic Sea Growth Fund (commitment to invest is excluded)	Fair value of net assets		7,492	15,597
						Investments into INVL Baltic Real Estate (including loans granted)	Market price		9,228*	4,402
	2013 2014	2015 2016	2017	2018 2019	2020 2021	Investments into Moldova Agroindbank	multipliers	Comparative method of	7,352	15,723
	01.01.2011	01.01.2021	31.12.2021	Change (%) since Jan. 2011	Change (%) in 12 months 2021	Investments into INVL Technology	Market price		3,808	5,134
						Investment into investment fund	Fair value of net assets		1,335	1,370
	409.65 1.989 EUR	816.64 7.60 EUR	966.13 17.00 EUR	135.84 754.70	18.31 123.68	Investments into Litagra (including loans granted)	comparison method	Combination of discounted cash flows and sales	18,085	20,318
	10.97%	Shareholders of Invalda INVL as of 31		December 2021 UAB LJB investments		Investments into Šiauliai Bank	the market price)	Market price (In 2021 the value of the forward is included according to its valuation model, based on	16,409	26,400
1.92%		25.87%		(a company controlled by A.Banys) Irena Ona Mišeikienė		Investments into Inservis		Transaction price (2020 discounted cash flows)	5,775	7,244
						Investments into other subsidiaries	Fair value of net assets		422	30
				(a company controlled by D.Šulnis)		Other assets, other investments	Book value		811	1,322
						Cash and cash equivalents	Book value		762	716
						Total assets	Book value		85,409	125,729
				Indrė Mišeikytė		Liabilities	Book value		2,252	4,522
						Net asset value	Book value		83,157	121,207
		25.10%		Company's own shares
				UAB Lucrum Investicija Alvydas Banys Other shareholders (> 3400)		(including loans granted) Net asset value per share * The value of investments in non-consolidated companies is included	Book value		7.11	10.32

INVALDA INVL: Y2021 RESULTS' FACTSHEET

ASSET MANAGEMENT BUSINESS

OTHER MAJOR INVESTMENTS, EUR MLN., AS OF 31.12.2021

Asset management and investing is our core business. On 15 June 2021, we signed an agreement to acquire a life insurance business in the Baltic States and in 2022 we hope to offer our customers more solutions to strengthen their financial security. OTHER MAJOR INVESTMENTS, EUR MLN., AS OF 31.12.2021 ASSET MANAGEMENT BUSINESS Directly Value of the Profit Company Activity owned owned share, % shares General partner investments One of the largest private equity investment funds in 15.60 + 12.26 12.22 7.58 the Baltics. The fund is commitment intended for professional bsgf.invl.com investors. Investments in commercial real estate company, 23.43 0.65 4.40 acting as a closed-end www.invlbalticrealestate.com investment company. The largest commercial bank in Moldova providing 7.9 8.37 15.72 a full range of financial https://www.maib.md/ services Investments in an information technology ASSET ASSET FARMLAND
(loss) from investment
FINASTA 15.39 1.24 MANAGEMENT MANAGEMENT company, acting as a 5.13 MANAGEMENT closed-end investment EUR million www.invltechnology.com 2020 2021 company.
(if not stated otherwise) Other historical investments Lithuania Latvia Total Lithuania Latvia Total
Primary agricultural Number of clients, units 189.8 57.2 247.0 199.3 61.3 260.6 production company that Amount earned (loss concentrates on agriculture 48.81 20.30 2.20 52.5 210.5
incurred) for clients - the cultivation of grain, milk and feed production. www.litagragroup.lt Asset under management* 1,095.0 151.9 1,246.9 1,399.3 209.3 1,608.6
Lithuanian commercial 2nd pillar pension funds 597.3 150.3 747.6 781.1 207.5 995.6 24.83
bank providing financial 8.85 from 5.43 + (value of services for business and owned 3rd pillar pension funds 52.8 1.6 54.4 80.2 1.8 82.0 forward directly
private clients. www.sb.lt investme owned (future Investment funds 52.0 - 52.0 53.9 - 53.9 +1.57 nt shares)+ acquisition
from Portfolios 1.57 (value 81.4 - 81.4 89.0 - 89.0 from EBRD forward of forward)
Alternative assets 311.5 - 311.5 388.1 - 388.1
Revenues 11.49 0.87 12.36 14.37 1.46 15.83 Facility management companies group 100 7.24 2.18 Profit (loss) before tax, EUR 2,150 (270) 1,880 6,714 145 6,859 thousand** www.inservis.lt
* Eliminated investments into own products, for which management fee is not charged. ** According to accounting data of Invalda INVL. More information www.invaldainvl.com