INVL Baltic Farmland

Investor Presentation • May 8, 2018

Key information for 3 months of 2018

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 owning more than 3 thousand hectares of agricultural land in Lithuania.

On 30 June 2015 the company has signed an agreement with INVL Farmland Management regarding administration of assets.

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, units	3,291,549
Total voting rights granted by the issued shares, units	3,228,510
Nominal value for one share, EUR	0.29
Total nominal value, EUR	954,549.21
ISIN code	LT0000128753

Key figures	31-03-2016	31-03-2017	31-03-2018
Book value of land, EUR thousand	11,237	12,335	12,964
Cash, EUR thousand	567	451	410
Other assets, EUR thousand	378	392	553
Consolidated equity, EUR thousand	10,445	11,199	12,073
Deferred income tax liabilities, EUR thousand	950	1,125	1,238
Deferred revenue, EUR thousand	367	403	421
Other liabilities, EUR thousand	420	451	195
Controlled cultivated cropland area, thousand ha	3	3	3
Average rental income per hectare, EUR	172	179	187
Book value of one share (BV), EUR*	3.17	3.47	3.74
Dividend yield, %*	2.3	1.6	3.5
Profit (loss), EUR thousand	01.01.2016- 31.03.2016	01.01.2017- 31.03.2017	01.01.2018- 31.03.2018
Revenue	129	134	140
(Allowance for) reversal of impairment of trade receivables	7	(2)	(18)
Profit before tax	107	96	87
Net profit	92	82	71

*Indicator formulas of INVL Baltic Farmland

(https://invlbalticfarmland.com/lit/en/investor-relations/reports/indicator-formulas)

Votes granted, %

Management of INVL Baltic Farmland
The Board (term of office 2018-2022)
Alvydas Banys (Chairman)
Indrė Mišeikytė
Darius Šulnis
CEO

Eglė Surplienė

Historical relation between share price and BV*, %