S.C. Fondul Proprietatea SA · BVB:FP
S.C. Fondul Proprietatea SA — Fondul Proprietatea — Shareholder Meeting (March 2024)
27 slides from S.C. Fondul Proprietatea SA's shareholder meeting presentation, Mar 26, 2024
Slide 1: Fondul Proprietatea – General Shareholders Meeting
Fondul Proprietatea – General Shareholders Meeting 26 March 2024
Slide 2: Fund Information
Fund Information Is FONDUL ey FRANKLIN » TEMPLETON eel
Slide 3: Key Facts
Key Facts Adjusted Share Price (RON) vs. Fund Details Discount/Premium (%) 0.60 8% 29 February 2024 NAV RON USD 0.55 Total NAV -1% 2.33 bn 0.51 bn 0.50 NAV/Share 0.6564 0.1433 0.45 -10% Key trading figures as at 25 March 2024 0.40 -19% 0.35 Price/Share 0.5090 0.1108 0.30 -28% Price/GDR 25.28 5.50 0.
Slide 4: Shareholder structure
Shareholder structure Evolution (% Held)1 2% 10% 10% 3% 8% 3% 12% 9% 13% 13% 2% 18% 6% 3% 15% 10% 10% 4% 3% 3% 3% 3% 4% 3% 3% 6% 5% 6% 3% 3% 37% 14% 3% 37% 37% 25% 20% 17% 12% 15% 11% 11% 22% 12% 10% 16% 3% 6% 43% 28% 18% 13% 3% 3% 54% 37% 22% 10% 8% 5% 55% 53% 34% 35% 3% 2% 2% 30% 31% 2% 2% 2% 9% 9
Slide 5: NAV, Share price and GDR Performance
NAV, Share price and GDR Performance Cumulative Performance1 Since Performance 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 YTD2 Inception2 NAV (0.5)% 8.9% 13.3% 1.4% (0.6)% 7.3% 13.1% 19.9% 31.2% 2.2% 47.8% 19.1% (2.4)% (0.7)% 312.6% (RON) Share Price (30.3)% 38.3% 61.3% 14.5% (
Slide 6: Portfolio
Portfolio — 7 = ie %
Slide 7: Portfolio Structure
Portfolio Structure Listed vs Unlisted By Sector (% of NAV as at 29 February 2024)1 (% of NAV as at 29 February 2024)1 23.9% 23.9% 5.0% 0.7% 0.8% 52.9% 2.4% 71.1% 4.4% 14.9% Unlisted Listed Net Cash & receivables Infrastructure Power utilities: Generation Heavy Industry Postal Services Aluminium Oth
Slide 8: Largest Holdings by NAV
Largest Holdings by NAV NAV as at % in NAV Majority % FP 29 February 2024 as at Portfolio Company Status Shareholder Stake1 (USD mn) 29 February 2024 Bucharest Airports Unlisted Romanian State 20.0% 191.5 37.6% Constanta Port Unlisted Romanian State 20.0% 71.6 14.1% Salrom Unlisted Romanian State 49
Slide 9: Largest Holdings by NAV – Net result evolution
Largest Holdings by NAV – Net result evolution Net Profit (RON mn) Top Holdings1 2017 2018 2019 2020 2021 2022 2023 (prelim.) Bucharest Airports 290.7 371.8 359.6 (146.4) 34.0 304.0 404.02 Constanta Port 79.7 75.7 108.2 130.3 130.5 114.5 133.92 Salrom 81.1 76.4 77.0 11.5 60.2 120.7 128.12 Alro SA 39
Slide 10: Hidroelectrica IPO – a milestone transaction in Europe
Hidroelectrica IPO – a milestone transaction in Europe Transaction Details Key highlights Name of Company: Hidroelectrica S.A. Country: Romania • Backed by strong local and international long-only demand from Sector: Utilities - Renewables 167 investors, order book was multiple times oversubscribed
Slide 11: Hidroelectrica IPO – a milestone transaction in Europe
Hidroelectrica IPO – a milestone transaction in Europe Third largest IPO in history on a CEE Largest IPO in Romanian history Largest IPO in Europe for 2023YTD Exchange Deal Size Pricing Deal Size Pricing Deal Size Company Industry Pricing Date Company Industry Country Company Industry Country (EURmn
Slide 12: Bucharest Airports – Update
Bucharest Airports – Update Financial performance 2016 2017 2018 2019 2020 2021 2022 20231 % y.o.y. Operating revenues (RON mn) 754.7 890.9 992.6 1,066.6 405.6 578.0 999.6 1,203.8 20.4% Operating result (RON mn) 263.6 337.6 445.9 399.0 (175.3) 40.8 344.7 477.1 38.4% Net Income / Loss (RON mn) 224.7
Slide 13: Constanta Ports – Update
Constanta Ports – Update Financial performance 2016 2017 2018 2019 2020 2021 2022 20231 % y.o.y. Operating revenues (RON mn) 314.0 330.5 345.2 369.0 398.8 418.9 479.5 548.7 14.4% Operating profit (RON mn) 54.8 93.8 95.8 117.0 145.9 140.6 131.5 135.6 3.1% Net Income (RON mn) 36.8 79.7 75.7 108.2 130.
Slide 14: Salrom – Update
Salrom – Update Financial performance 2016 2017 2018 2019 2020 2021 2022 20231 % y.o.y. Operating revenues (RON mn) 312.4 394.1 436.9 469.2 300.2 374.5 495.3 529.7 6.9% Operating profit (RON mn) 36.3 107.3 93.5 84.6 15.8 70.1 134.4 135.0 0.4% Net Income (RON mn) 30.1 81.1 76.4 77.0 11.5 60.2 120.7 1
Slide 15: Corporate Actions
Corporate Actions FONDUL @. FRANKLIN -° TEMPLETON
Slide 16: Distributions to Shareholders
Distributions to Shareholders Annual Distributions to Shareholders (RON mn) 1,124.3 552.7 507.7 1,499.0 1,778.5 923.6 1,190.8 1,743.7 1,870.6 1,081.3 1,483.0 1,519.9 1,931.5 11,266.8 159.8% 1,547.0 269.7 25.4% 15.5% 21.9% 14.8% 17.0% 8.1% 17.5% 18.3% 18.3% 14.7% 7.5% 9,450.1 711.5 832.5 583.1 328.1
Slide 17: Cash distribution recommendation for 2023 FY – RON 0.06/share
Cash distribution recommendation for 2023 FY – RON 0.06/ share Main dates related to the proposed gross cash distribution 16 May 2024 as the Ex – Date 17 May 2024 as the Registration Date 7 June 2024 as the Payment Date • Although there is no distributable profit as per the annual statutory financia
Slide 18: Cash distributions to shareholders
Cash distributions to shareholders Gross Cash distribution Net Cash distribution Distribution Financial year Paid in (RON/share) (RON/share) Dividend 2008-2009 (aggregate) 2010 0.08160 0.06854 Dividend 2010 2011 0.03141 0.02638 Dividend 2011 2012 0.03854 0.03237 Dividend 2012 2013 0.04089 0.03435 Re
Slide 19: Buy-back programs
Buy – back programs No. of shares (to be) repurchased Average share / % of the Fund’s price Cancellation Program Period Status issued share capital (RON / share) Broker of shares1 The cancellation of shares will be subject to Jan – Auerbach Grayson, 14th Finalized 2.11 bn / 37.26% 0.86002 shareholde
Slide 20: Total dividend income from portfolio companies
Total dividend income from portfolio companies FP Net Dividend RON 2014 2015 2016 2017 2018 2019 2020 2021 2022 202312 Total Dividends from Listed Companies (mn) 538.6 251.5 36.0 148.1 199.6 223.0 200.2 117.0 127.7 0.9 Total Dividends from Unlisted Companies (mn) 143.5 315.9 315.2 404.5 366.9 710.0
Slide 21: 13 February 2024 EGM Resolutions
13 February 2024 EGM Resolutions Only the persons registered as shareholders of Fondul Proprietatea on 18 January 2024 (the Reference Date) in the register of shareholders kept by Depozitarul Central S.A. had the right to participate and vote at the EGM EGM • The approval of the authorization to buy
Slide 22: 26 March 2024 OGM Agenda – Main points (I)
26 March 2024 OGM Agenda – Main points (I) Only the persons registered as shareholders of Fondul Proprietatea on 29 February 2024 (the Reference Date) in the register of shareholders kept by Depozitarul Central S.A. have the right to participate and vote at the OGM OGM Agenda1 • The approval of the
Slide 23: 26 March 2024 OGM Agenda – Main points (II)
26 March 2024 OGM Agenda – Main points (II) The approval of: 11 April 2024 as the Ex – Date; 12 April 2024 as the Registration Date OGM agenda1 • Alternative to item 1 of the OGM Convening Notice – The approval of the terms of, along with the execution of, the Management Agreement between Fondul Pro
Slide 24: Disclaimer (I)
Disclaimer (I) This presentation is for general information only and reflects the personal views of the presenter. Nothing herein is intended to constitute advice on investment, legal or tax matters, any form of personal recommendation nor it should be construed as, constituting or forming part of,
Slide 25: Disclaimer (II)
Disclaimer (II) No information hereof is to be considered, under any circumstances, as an information provided in accordance with Article 23 of the AIFMD as such was transposed by Article 22 of Law no. 74/2015 on managers of alternative investment funds. In addition, the list of investor rights can
Slide 26: Thank You
Fondul Proprietatea Premium Point Buzesti Street 76-80, 1st District Bucharest 011017 www.fondulproprietatea.ro Thank You
Slide 27: Questions & Answers
Questions & Answers
Fondul Proprietatea — Shareholder Meeting (March 2024) on 6ix