S.C. Fondul Proprietatea SA · BVB:FP
S.C. Fondul Proprietatea SA — Fondul Proprietatea — Shareholder Meeting (September 2021)
21 slides from S.C. Fondul Proprietatea SA's shareholder meeting presentation, Sep 29, 2021
Slide 1: Fondul Proprietatea – General Shareholders Meeting
Fondul Proprietatea – General Shareholders Meeting 29 September 2021
Slide 2: Fund Information
Fund Information Is FONDUL ey FRANKLIN » TEMPLETON eel
Slide 3: The Fund – Key Facts
The Fund – Key Facts Fund Details1 RON USD NAV 11.03 bn 2.64 bn2 NAV/Share 1.8691 0.44782 Price/Share 1.8200 0.43602 Price/GDR 91.832 22.00 Market Capitalization as at 28 September 2021 10.54 bn 2.49 bn3 (Discount)/Premium per Share as at 28 September 2021 (4.34)% (Discount)/Premium per GDR as at 28
Slide 4: Shareholder structure
Shareholder structure Evolution (% Held)1 2% 2% 3% 3% 6% 6% 10% 10% 8% 9% 10% 10% 6% 4% 3% 14% 12% 12% 14% 14% 10% 3% 18% 3% 3% 3% 5% 6% 20% 3% 3% 3% 3% 3% 3% 14% 54% 25% 3% 17% 16% 43% 22% 14% 13% 55% 53% 11% 12% 15% 14% 14% 16% 6% 28% 28% 26% 25% 23% 22% 18% 17% 17% 31% 37% 34% 35% 30% 9% 27% 28%
Slide 5: FP Market performance
FP Market performance FP Adjusted Share Price (RON) vs. Discount/Premium (%) 1.97 8% 1.80 0% 1.64 -8% 1.47 -17% 1.31 -25% 1.14 -34% 0.98 -42% 0.81 -50% 0.65 -59% 0.48 -67% 0.32 -76% 0.15 -84% 1/11 8/11 3/12 10/12 4/13 11/13 6/14 12/14 7/15 2/16 9/16 3/17 10/17 5/18 12/18 6/19 1/20 8/20 3/21 9/21 Adj
Slide 6: Portfolio
Portfolio — 7 = ie %
Slide 7: Current Portfolio Structure
Current Portfolio Structure Listed vs Unlisted By Sector (% of NAV as at 31 August 2021)1 (% of NAV as at 31 August 2021)1 2% 2% 5% 5% 18% 8% 12% 55% 16% 77% Unlisted Listed Net Cash & receivables Power Utilities: Generation Infrastructure Oil & Gas Heavy industry Aluminium Power & Gas Utilities: Di
Slide 8: Largest Holdings by NAV
Largest Holdings by NAV NAV as at % in NAV Majority 31 August 2021 as at Portfolio Company Status Shareholder % Stake1 (USD mn) 31 August 2021 Hidroelectrica Unlisted Romanian State 19.9% 1,446.8 54.8% OMV Petrom Listed OMV 7.0% 417.8 15.8% Engie Romania Unlisted Engie 12.0% 144.7 5.5% Bucharest Air
Slide 9: Top Portfolio Holdings – H1 2021 Key financials
Top Portfolio Holdings – H1 2021 Key financials Net Profit (RON mn) Top Holdings H1 2020 H1 2021 % change Hidroelectrica 805.5 1,687.4 109.5% OMV Petrom 867.0 979.6 13.0% Bucharest Airports (27.4) (53.6) 95.6% Constanta Port 90.5 100.9 11.5% Alro 253.7 (47.6) (118.8)% Salrom 4.1 22.2 443.9% Total 1,
Slide 10: Corporate Actions
Corporate Actions FONDUL @. FRANKLIN -° TEMPLETON
Slide 11: 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 1,095.3 25.4% 29% 2,000 18.3% 21.9% 17.5% 18.3% 23% 1,500 583.1 600.0 832.5 15.5% 1,121.5 14.8% 17% 10.5% 812.6 1,000 236.6 181.5 484.4 254.6
Slide 12: Special Dividend Distributions in 2021
Special Dividend Distributions in 2021 RON 0.0720 gross dividend per share1 RON 0.0700 gross dividend per share2 Main dates related to the RON 0.0720 Main dates related to the RON 0.0700 gross dividend per share distribution1 gross dividend per share distribution2 • NAV Ex-Date: 29 April 2021 • NAV
Slide 13: Cash Distributions to Shareholders
Cash Distributions to Shareholders Gross Cash Net Cash distribution distribution Distribution Financial year Paid in (RON/share) (RON/share) 2008-2009 Dividend 2010 0.08160 0.06854 (aggregate) Dividend 2010 2011 0.03141 0.02638 Dividend 2011 2012 0.03854 0.03237 Dividend 2012 2013 0.04089 0.03435 Re
Slide 14: Buy-back programs
Buy – back programs No. of shares (to be) repurchased/ Average % of the Fund’s share price Cancellation Program Period Status issued share capital (RON/share) Broker of shares Cancellation of shares approved by 1 Jan – Auerbach Grayson, Eleventh Finalized 797.96 mn/11.07% 1.33472 shareholders during
Slide 15: 29 September 2021 GSM Agenda – Main Points (I)
29 September 2021 GSM Agenda – Main Points (I) Only the persons registered as shareholders of the Fondul Proprietatea on 9 September 2021 (the Reference Date) in the register of shareholders kept by Depozitarul Central S.A. have the right to participate and vote at the GSM that will take place start
Slide 16: 29 September 2021 GSM Agenda – Main Points (II)
29 September 2021 GSM Agenda – Main Points (II) According to Article 19 paragraph (3) of the Constitutive Act of Fondul Proprietatea, the two subpoints A and B below should not be voted in the same manner since they are mutually exclusive, e.g., voting "in favour" of one should mean voting "against"
Slide 17: Key terms of the Management Agreement in force
Key terms of the Management Agreement in force Management Agreement – Starting 1 April 2020 Distribution Fees for Base Fee per Year Duration Cash Distribution 0.60% • 1.00%: 1 April 2020 – 31 March 2022 • 2 years • Discount 15% – 20%, + 0.05%, i.e. Base Fee Rate = 0.65% • Discount <15%, + additional
Slide 18: Key Terms of the Proposed Management Agreement
Key Terms of the Proposed Management Agreement (subject to shareholders’ approval) Management Agreement – Starting 1 April 2022 Distribution Fees for Base Fee per Year Duration Cash Distribution • 0.45% • 2.50%: 1 April 2022 – 31 March 2023 • 2 years • 1.75%: 1 April 2023 – 31 March 2024 Considerati
Slide 19: Disclaimer (I)
Disclaimer (I) This presentation is made solely to the intended recipient and should not be distributed to, or acted upon by, any other person. It is for general information only and reflects the personal views of the presenter. Nothing herein is intended to constitute advice on investment, legal or
Slide 20: Disclaimer (II)
Disclaimer (II) In addition, the list of investor rights can be found in the Constitutive Act, available on the Fund’s website, in the Corporate Governance section, here: https://www.fondulproprietatea.ro/about-fund/fund-overview/corporate-governance. The price of shares and income from them can go
Slide 21: Thank You
Fondul Proprietatea Premium Point Buzesti Street 76-80, 1st District Bucharest 011017 www.fondulproprietatea.ro Thank You
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