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INVL Baltic Real Estate

Investor Presentation • Jun 2, 2014

2258_rns_2014-06-02_42b7cdaa-53aa-454d-a23b-bbb7009a5969.pdf

Investor Presentation

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Presentation of INVL Baltic Real Estate

Vilnius, 2 June 2014

INVL Baltic Real Estate, AB

  • •Invalda LT group, AB has been investing into real estate since 1992.
  • • Companies of INVL Baltic Real Estate group owns 12 real estate properties in Vilnius and Riga.
  • • The majority of objects generate funds from rent and have development potential.
  • • Company was established in 2014 separating a part of assets from investment company Invalda LT, AB.
  • • Group companies have about 51 700 sq. m. of the real estate space (more information is available on company's website www.invlBalticRealEstate.lt).

Simplified Group structure

INVL Baltic Real Estate owns 50% of creditors' claims in both the Dommo Biznesa Parks, SIA, and Dommo Grupa, SIA (corporate debts exceeds the market value of assets held). Real estate is mortgaged to INVL Baltic Real Estate for granted loans.

Companies and their objects

Objects in Vilnius

IBC class B business centre, block AA. Juozapaviciaus st. 6, Vilnius

Total area: 2 100 sq. m Rented area: 1 700 sq. m Land area: 1.47 ha (total area of the IBC complex)Property market value in 2013: LTL 6.5 mln.

IBC class B business centre, block BA. Juozapaviciaus st. 6 / Slucko st. 2, Vilnius

Total area: 7 300 sq. mRented area: 6 900 sq. mLand area: 1.47 ha (total area of the IBC complex)Property market value in 2013: LTL 22.6 mln.

IBC class B business centre, block CA. Juozapaviciaus st. 6, Vilnius

Total area: 200 sq. mRented area: 100 sq. mLand area: 1.47 ha (total area of the IBC complex)Property market value in 2013: LTL 0.7 mln.

IBC class B business centre, block DA. Juozapaviciaus st. 6, Vilnius

Total area: 1 600 sq. mRented area: 1 200 sq. mLand area: 1.47 ha (total area of the IBC complex)Property market value in 2013: LTL 3.8 mln.

IBC class A business centre, block FSeimyniskiu st. 3, Vilnius

Total area: 4 500 sq. mRented area: 3 400 sq. mLand area: 1.47 ha (total area of the IBC complex)Property market value in 2013: LTL 22.5 mln.

IBC class A business centre, block G Seimyniskiu st. 1a, Vilnius

Total area: 6 900 sq. mRented area: 3 300 sq. mLand area: 1.47 ha (total area of the IBC complex)Property market value in 2013: LTL 20.9 mln.

Office building, block APalangos st. 4 / Vilniaus st. 33, Vilnius

Total area: 5 100 sq. mRented area: 3 800 sq. mLand area: 0.49 ha (total area of the complex)Property market value in 2013: LTL 14.9 mln.

Office building, block B, Palangos st. 4/Vilniaus st. 33, Vilnius

Total area: 4 700 sq. mRented area: 2 400 sq. mLand area: 0.49 ha (total area of the complex)Property market value in 2013: LTL 10.1 mln.

Zygio business centre – office building J. Galvydzio st. 7 / Zygio st. 97, Vilnius

Total area: 3 200 sq. mRented area: 2 600 sq. mLand area: 0.60 haProperty market value in 2013: LTL 10.2 mln.

Office and warehouse buildingsKirtimu st. 33, Vilnius

Total area: 3 000 sq. mRented area: 2 500 sq. mLand area: 0.67 haProperty market value in 2013: LTL 2.6 mln.

Balance sheet of Invaldos Nekilnojamojo Turto Fondas, AB

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*Value estimated based on appraisers assessment at the end 2013.

Income of Invaldos Nekilnojamojo Turto Fondas, AB

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17

Sublease agreement

  • • In 2007, Invalda LT, group companies sold three office buildings and two logistics centres in Vilnius and Kaunas, and committed to sublease them.
  • • Sublease commitment is held by Invaldos Nekilnojamojo Turto Fondas, AB, and is valid until 30.09.2017.
  • • Currently the company is experiencing about LTL 90 000 loss per month due to the agreement.
  • • Loss rate may increase or decrease depending on the collected rental income and spending levels on objects' maintenance facilities.
  • •Sublease fee is annually indexed by the inflation rate.

Dwelling houseKalvariju st. 11a, Vilnius

Total area: 276 sq. mProperty market value: LTL 1.6 mln.In April 2014, the company acquired last apartment in the building, now it owns all 6 apartments.

IBC business centres and Kalvariju st. 11a

Balance sheet of Rovelija, UAB

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*Value as of 31 March 2014, determined in accordance with management's assessment.

12th objectDommo Business Park

Dommo Business Park manufacturing, warehousing and office space complex in Latvia.

Assets are owned by DOMMO Grupa, SIA, and DOMMO Biznesa Parks, SIA, property is mortgaged to INVL Baltic Real Estate for the granted loans. INVL Baltic Real Estate, AB, owns 50 percent of creditors' claims in these companies.

Total area: 12 800 sq. mRented area: 12 600 sq. mLand area: 58.21 haProperty market value in 2013: LTL 27.6 mln.Rental income in 1st quarter of 2014: LTL 0.5 mln.

Dommo Business Park location

About INVL Baltic Real Estate, AB

Equity of INVL Baltic Real Estate, AB

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* Equity value minus the loan granted to INVL Baltic Real Estate.

Security information

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The Board

Company intends to pursue closed-end investment company status. It is planned that after the license is granted, INVL Baltic Real Estate will be managed by Invalda LT Investments – company controlled by Invalda LT and consisting of professionals in various fields. Therefore, the current management structure of INVL Baltic Real Estate is temporary.

Alvydas Banys – Chairman of the Board

After graduation from the Vilnius Gediminas Technical University, Alvydas Banys worked for two years in the Lithuanian Academy of Science as a junior research fellow of the Institute of Economics. In 1996-2006 he served as a vice president of the company, in 1996- 2000 – member of the Board, 2001-2007 – Chairman of the Board. Alvydas Banys took part in real estate, hotels management, production companies Management Boards' activities. Currently Alvydas Banys is a Chairman of Invalda LT Board, also a member of the BAIP Group Board, INVL Baltic Farmland, AB, INVL Baltic Real Estate, AB, INVL Technology, AB, and Invalda LT Investments, UAB, Chairman of the Board.

Indre Miseikyte – Member of the Board

Indre Miseikyte acquired architect degree at the Vilnius Gediminas Technical University. In 1994-1996 she worked in Vilniaus Baldai, AB, later in real estate and investment companies Gildeta, UAB, and Kremi, UAB. Since 2002 she works as an architect in Inreal Valdymas, AB. Since April 2012 – a member of Invalda LT Board. Indre Miseikyte is also a member of INVL Baltic Farmland, AB, INVL Baltic Real Estate, AB, and INVL Technology, AB, Boards. Since 2013 – a Member of the Board of Invalda Privatus Kapitalas, AB.

Darius Sulnis – Member of the Board, director

Darius Sulnis graduated from the Vilnius University acquiring accounting and audit Master degree. In 2013 completed business administration studies at the Duke University (USA). He worked as a manager of the broker company Finasta for eight years, then four more years as a manager of the real estate company Inreal valdymas, AB, also took part in activities of Polish, Latvian and Lithuanian companies' Management and Supervisory Boards. Currently Darius Šulnis is a member of the Board and president of Invalda LT, AB, also takes part in activities of Invaldos Nekilnojamojo Turto Fondas, AB, Litagra, UAB, Inservis, UAB, BAIP Group, UAB, Invalda LT Investments, UAB, also INVL Baltic Farmland, AB, INVL Baltic Real Estate, AB, INVL Technology, AB, Boards and is a director of the last three companies.

Further plans

  • • INVL Baltic Real Estate, AB, shares will be listing on NASDAQ OMX Vilnius Stock Exchange since June 4.
  • • Company plans to apply to the Bank of Lithuania for closed-end investment company license and in its activities will become similar to investment fund.
  • • It is planned to apply for the strictest, retail investors oriented, regulatory regime.

  • • After the license is granted, management of the company will be transferred to Invalda LT Investments, a company owned by Invalda LT.

  • •Presentation was prepared by INVL Baltic Real Estate, AB.

  • • Management company and closed-end investment companies need licences from Lithuanian Bank. There is no guarantee they will be granted.
  • • Information acquired from the third parties is perceived to be correct. However, some data might have changed from its publication date till preparation of this presentation.
  • • This presentation is not an offer to buy or sell securities, provide investment services or investment advice. This presentation or any part of it shall not be the basis for the conclusion of a contract, commitment or investment decision.
  • • Company is not responsible for any decisions made by third persons based solely on the information listed in this presentation.

Contact information:

INVL Baltic Real Estate, ABSeimyniskiu str. 1A, LT-09312, Vilnius, LithuaniaTel. +370 5 279 [email protected]

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