INVL Baltic Farmland

Investor Presentation • Nov 7, 2017

Key information for 9 months of 2017

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

Votes granted, %

Management of INVL Baltic Farmland
The Board (term of office 2014-2018)
Alvydas Banys (Chairman)
Indrė Mišeikytė
Darius Šulnis
CEO
Eglė Surplienė

Key figures	30 September 2015	30 September 2016	30 September 2017
Book value of land, EUR thousand	10,559	11,237	12,335
Cash, EUR thousand	308	139	196
Other assets, EUR thousand	137	237	206
Consolidated equity, EUR thousand	10,002	10,407	11,362
Deferred income tax liabilities, EUR thousand	851	960	1,133
Deferred revenue, EUR thousand	84	129	134
Other liabilities, EUR thousand	67	117	108
Controlled cultivated cropland area, thousand ha	3	3	3
Average rental income per hectare, EUR	149	172	179
Book value of one share (BV), EUR*	3.04	3.22	3.52
Dividend yield, %*	2.1	1.9	1.8
Profit (loss), EUR thousand	01.01.2015 – 30.09.2015	01.01.2016 – 30.09.2016	01.01.2017 – 30.09.2017
Revenue	339	387	403
Reversal of impairment of trade receivable	26	0	(8)
Profit before tax	312	299	287
Net profit	270	257	245

*Indicator formulas of INVL Baltic Farmland

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

Historical relation between share price

Share price Premium/ discount vs BV*, %
31 March 2016	(10.5)
30 June 2016	(7.5)
30 September 2016	8.7
31 December 2016	(4.8)
31 March 2017	21.5
30 June 2017	11.2
30 September 2017	7.95

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