Invalda INVL

Investor Presentation • Nov 29, 2024

Founded in 1991.

Invalda INVL is an asset management group with an open approach, which grows and develops, and creates well-being for people through its activities.

• Private equity pioneers in the Baltics.
• Listed on Nasdaq Baltic since 1995.
• Executed deals worth more than EUR 2.0 billion.

€171.8m Capitalisation

€202.5m Net Asset Value

> €1.6b AuM as of 30.09.2024

EXECUTIVES OF INVALDA INVL

Alvydas Banys Chairman of the Board

Indrė Mišeikytė Member of the Board

Tomas Bubinas Member of the Board

MEMBER

Darius Šulnis CEO

CFO

STRATEGIC BUSINESS TEAM 61 investments professionals, of which 30 have significant experience 100+ employees

ASSET MANAGEMENT TEAM

FAMILY OFFICE TEAM IN LITHUANIA

Private equity funds Real assets: timberland and farmland, renewables, real estate Third party funds Private debt

*AuM refers to the assets we manage or have under supervision and generally equals to the sum of the following: fair value of managed or supervised assets (for example, NAV or capitalization of funds) and uncalled capital commitments. More detailed information is available on the company's website.

TEAM IN LATVIA TEAM IN ESTONIA

GROUP OVERVIEW

30 September 2024

KEY FINANCIALS OF INVALDA INVL					NET ASSET VALUE BREAKDOWN
€ thousand	Company		Group		€ thousand		Evaluation criteria	30/09/2024	30/09/2023	Δ
Non-current assets	9M 2024 215,472	9M 2023 137,103	9M 2024 210,010	9M 2023 129,061	Investments into core businesses		Equity method	12,188	15,967	(3,779)
Current assets	3,765	3,757	10,139	17,794	Other own investments		Fair value	203,243	121,076	82,167
Equity	202,481	135,594	202,481	135,594	Cash & cash equivalents		Amortized cost	926	319	607
Non-current liabilities	13,301	1,873	13,766	2,614	Other assets		Amortized cost / residual value	2,880	3,498	(618)
Current liabilities	3,455	3,393	3,902	8,647	Total assets		Book value	219,237	140,860	78,377
Result before taxes	26,181	3,085	26,311	3,106	Total liabilities		Cost	(16,756)	(5,266)	(11,490)
Net profit	25,788	3,626	25,788	3,626	NET ASSET VALUE		Book value	202,481	135,594	66,887
Basic earnings per share, EUR	-	-	2.14	0.31	NET ASSET VALUE PER SHARE		Book value	16.85	11.29	5.56
					OVERVIEW OF KEY OWN INVESTMENTS
GENERAL PARTNER INVESTMENTS					LEGACY INVESTMENTS
INVL Asset Management managed products
+ OTHERS					#4 bank in Lithuania 19.93%		Largest bank in Moldova 7.45%		Leading agricultural group in Lithuania 48.81%
	30/09/2024	30/09/2023			30/09/2024	30/09/2023	30/09/2024	30/09/2023	30/09/2024	30/09/2023
	TOTAL VALUE					VALUE OF INVESTMENT
	€70.0m	€47.2m			€95.3m	€37.6m	€23.8m	€20.9m	€18.3m	€17.7m
	NET GAIN (LOSS) OF INVESTMENT					NET GAIN (LOSS) OF INVESTMENT
	€14.6m	€2.7m			€10.0m	€(2.9)m	€4.4m	€4.8m	€(1.0)m	€(4.2)m
			INVALDA INVL SHAREHOLDERS, SHARE PRICE AND NET ASSET VALUE (NAV) DYNAMICS
						NAV per share and market price per share historical dynamics
12.95% 1.87%	25.19%	Alvydas Banys Irena Ona Mišeikienė	UAB LJB investments (a company controlled by A.Banys)				DIVIDENDS	0.80 DIVIDENDS 7,47 7,11	0.65 11,07 10,32	16,85 14,83
25.87% 1.93%	24.78%	Indrė Mišeikytė 7.41% Company's own shares Other shareholders (> 3700)	UAB Lucrum Investicija (a company controlled by D.Šulnis)			4,11 3,75 2014 2015	5,67 5,53 4,55 2016 2017 2018 NAV per share NAV per share 10Y CAGR (incl. dividends): +19%	2019 2020	2021 2022 Market price per share	0.10 DIVIDENDS 2023 2024 Q3