INVL Baltic Farmland

Business and Financial Review • Aug 8, 2014

Key information about INVL Baltic Farmland, AB for 6 months of 20141

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 LT, 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.

INVL Baltic Farmland, AB later will apply to the Bank of Lithuania for closed-end investment company license and in its essence will become similar to investment fund.

Group structure of INVL Baltic Farmland, AB

Agricultural land portfolio of INVL Baltic Farmland, AB as of 30 June 2014.

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

The balance sheet summary report of INVL Baltic Farmland as of 30 June 2014

lan he ho d Ba t, L T L t ce s e us an
Inv est nt ert me p rop y	3 6, 4 5 6
de b les Tra iva re ce	8 8 6
De fer d t ets re ax ass	5 5
Ca h s	3 8 8
he Ot ts r a sse	3 4
fer d l b l De inc ia i it ies e t re om ax	2, 8 9 9
Ot he l ia b i l it ies t r c en urr	6 0 7
fer d De inc re om e	5 5 4
he l b l Ot ia i it ies r	5 3
Co l i da d e ity te nso q u	3 4, 1 1 5

f ig f lt ic lan d a f 3 0 2 0 Ke I N V L Ba Fa Ju 1 4 y ur es o rm s o ne
l le d c lt d c lan d a ha Co ntr iva te o u rop rea ,	3 0 0 6
Bo k v lue f lan d, L T L t ho d o a o usa n	3 6, 4 5 6 *
l he 2 0 Av ta inc cta in 1 4, L T L era g e r en om e p er re	3 8 2
l da d e ho d Co i te ity L T L t nso q u usa n ,	3 4, 1 1 5
f s Nu be ha m r o res	3, 2 9 4, 2 0 9
Bo k v lue f o ha L T L o a o ne s re,	1 0. 3 6

*Investment properties are stated at fair value and are valued by accredited valuer UAB korporacija Matininkai using sales comparison method. The valuation was performed in June-July 2014.

The profit (loss) summary report of INVL Baltic Farmland as of 30 June 2014

Pr f it ( los ), L T L t ho d o s us an
Re ve nu e	9 2 1
be for Inc e t om e ax	3 1 1
f Ne it t p ro	1 1 2

¹The information covers the first interim financial period of the Company, starting from the Company's establishment date on 29 April 2014 and ending on 30 June 2014.