INVL Baltic Farmland

Investor Presentation • Jul 21, 2015

Key information about INVL Baltic Farmland, AB for 6 months of 2015

About INVL Baltic Farmland, AB

The public joint-stock company INVL Baltic Farmland was established on 29 April 2014 on the basis of a part of assets split-off from Invalda INVL, AB.

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.

Shares of INVL Baltic Farmland are listed on NASDAQ OMX Vilnius stock exchange since 4 June 2014.

On June 30 2015 the company has signed an agreement with INVL Farmland Management to transfer an administration of the assets to the third party.

Agricultural land portfolio of INVL Baltic Farmland, AB

Plots belonging to the company are in the most fertile areas of Lithuania. They are highlighted in blue.

Main Shareholders and Group structure¹ of INVL Baltic Farmland

Ma fee % t na g em en s,
Pe f t he l i da d r l inc nt te ta rce o co ns o en om e	7
f w f Q Pe ig hte d a ita l iza ion I N V L Ba lt ic Fa lan d 2 nt t rce o e ve rag e c ap o rm	0.5
Su ( fee f t he l i da d ity ha in f t he t o te cce ss p erc en c on so eq u p er s re ex ce ss o be hm k v lue ) nc ar a	20
Ba d de bt lev l a f t he l c l i da d inc ( i f e de d, he tag to ta te t e s a p erc en e o on so om e xc ee is t ke fro he fee ) ot t ex ce ss a n m r m an ag em en s	5

Historical relation between share price and NAV

S ha ice re p r Pre ium / D isc nt m ou N A V, % vs
20 14 Q 2	8, 0 %
20 14 Q 3	( 8, ) % 5
Q 20 14 4	( ) 7, 2 %
Q 20 15 1	( ) 5, 7 %

Ke f ig f I N V L Ba lt ic Fa lan d a f 3 0 Ju 20 1 5 ure s o rm s o ne y
Bo k v lue f lan d, E U R t ho d o a o us an	10 55 8 ,
Ot he E U R t ho d ets r a ss us an ,	43 7
Co l i da d e ity, E U R t ho d te ns o q us an u	9, 9 3 8
fer De d inc l ia b i l it ies E U R t ho d e t re om ax us an ,	8 48
Ot he l ia b i l it ies E U R t ho d r us an ,	20 9
Co l le d c lt iva d c lan d a ha ntr te o u rop rea ,	3, 0 0 3
Av ta l inc he cta E U R era g e r en om e p er re,	14 9
Bo k v lue f o ha E U R o a o ne s re,	3. 0 2
D iv i de d y ie l d, % n	2.2
Pro f it ( los ), E U R t ho d s us an
Re ve nu e	23 0
Inc be for e t om e ax	23 7
f Ne t p it ro	20 6

1The corporate structure reflects the changes that came into force on 1 July 2015.