Invalda INVL — Investor Presentation 2024

Nov 29, 2024

INVALDA INVL

GROUP OVERVIEW

30 September 2024

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

• Founded in 1991.
• 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

EXECUTIVES OF INVALDA INVL

Alvydas Banys
Chairman of the Board

Indrė Mišeikytė
Member of the Board

Tomas Bubinas
Member of the Board
INDEPENDENT MEMBER

Darius Šulnis
CEO

Raimondas Rajeckas
CFO

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

ASSET MANAGEMENT TEAM

FAMILY OFFICE TEAM IN LITHUANIA

TEAM IN LATVIA

TEAM IN ESTONIA

INVALDA GROUP

CLIENT ASSET MANAGEMENT

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

OWN INVESTMENTS

Traditional asset management	Multi-family office
Pension funds (Latvia)
Portfolio management

CLIENT ASSET MANAGEMENT

> €1.6b
AuM as of 30.09.2024

€115.4m
Earned for clients in 9 months of 2024

ASSET UNDER MANAGEMENT*

*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.

ALTERNATIVES

Top funds by size of commitments and AuM		Portfolio companies of Alternative investment funds (31/12/2023)
COMMITMENTS	AuM	>€750m REVENUES
BALTIC SEA GROWTH FUND		>€170m NORMALIZED EBITDA
€165m	€345m
SUSTAINABLE TIMBERLAND AND FARMLAND FUND II
€95m	€113m
RENEWABLE ENERGY FUND I
€57m	€59m

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INVALDA

IPI

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
	9M 2024	9M 2023	9M 2024	9M 2023
Non-current assets	215,472	137,103	210,010	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				ŠIAULIŲ 8 BANKAS #4 bank in Lithuania 19.93%	maib Largest bank in Moldova 7.45%	LITAURA Leading agricultural group in Lithuania 48.81%
BALTIC SEA GROWTH FUND	EUSTAINABLE TIMBERLAND AND FARMLAND FUND II	RENEWABLE ENERGY FUND I	BALTIC REAL ESTATE					TECHNOLOGY + OTHERS
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

NAV per share 10Y CAGR (incl. dividends) +19%