S.C. Fondul Proprietatea SA · BVB:FP
S.C. Fondul Proprietatea SA — Fondul Proprietatea — Shareholder Meeting (April 2022)
31 slides from S.C. Fondul Proprietatea SA's shareholder meeting presentation, Apr 20, 2022
Slide 1: Fondul Proprietatea – Annual General Shareholders Meeting
Fondul Proprietatea – Annual General Shareholders Meeting 20 April 2022
Slide 2: Performance report
Performance report FONDUL | 642 » TEMPLETON
Slide 3: Report on the Discount objective
Report on the Discount objective
Slide 4: Discount objective
Discount objective Objective 2021 Monitoring • The discount between the closing price for each trading day • In the period 1 January – 31 December 2021, discount was on the BVB, of the shares issued by the Fund and the latest lower than 15% in at least two thirds of the trading days. reported NAV pe
Slide 5: Share price and Discount / Premium evolution
Share price and Discount / Premium evolution 1.95 3% 1.75 -5% 1.55 -12% 1.35 -20% 1.15 -27% 0.95 -34% 0.75 -42% 0.55 -49% 0.35 -57% 0.15 -64% 1/11 9/11 4/12 11/12 6/13 2/14 9/14 4/15 11/15 7/16 2/17 9/17 4/18 12/18 7/19 2/20 9/20 5/21 12/21 Adjusted Share Price (RON) Discount/Premium (%) Source: BVB
Slide 6: Measures taken
Measures taken Investor Relations Proactive investor relations program to increase the visibility of the Fund to a broader base of investors Distributed RON 1.17 billion to the Fund’s shareholders during 1 January – 31 December 2021 via: Special Dividend Distributions Buy-backs Total amount distribu
Slide 7: Creating liquidity at the portfolio level
Creating liquidity at the portfolio level $117.6 648,992,983 $xxx 45,000,000 RON RON 693,992,983 RON Dividends Received Credit Facility (Collected) (Committed) Source: Fund’s results reports. Credit Facility Note: maximum committed amount of RON 45 million, plus the possibility to access, subject to
Slide 8: Distributions to shareholders and Share buybacks
Distributions to shareholders and Share buybacks Distributions to shareholders in the period Expenses related to 1 January – distributions recorded % of the NAV % of the average 31 December 2021 in the period 1 January as at 31 December market capitalization RON (excluding related costs) – 31 Decemb
Slide 9: Investor Relations activity
Investor Relations activity Communication between the Fund Manager and investors remains our top priority as we aim to ensure that investors are informed about the latest developments and obtain feedback as we continue to focus on maximising shareholder value During the Reporting Period, the Fund Ma
Slide 10: Report on the NAV objective
Report on the NAV objective ~o— " = : >,
Slide 11: NAV objective
NAV objective Objective 2021 Monitoring • The Adjusted NAV per share as at 31 December 2021, to be higher • The Adjusted NAV per share at 31 December 2021 is 45.45% higher than the NAV per share as at 31 December 2020 (RON 1.6974 per than the NAV per share at 31 December 2020 share) NAV Objective Am
Slide 12: Attribution to NAV performance January – December 2021
Attribution to NAV performance for the period 1 January – 31 December 2021 Weight in total Change in NAV Change in NAV per share Company Status NAV1 performance (RON) Hidroelectrica SA Unlisted 64.4% 37.54% 0.6373 OMV Petrom SA Listed 14.9% 6.37% 0.1081 Top CN Administratia Porturilor Maritime SA Un
Slide 13: Fund Information
Fund Information Is FONDUL ey FRANKLIN » TEMPLETON eel
Slide 14: Key Facts
Key Facts Adjusted Share Price (RON) vs. Fund Details Discount/Premium (%) 31 March 2022 NAV RON USD 2.15 8% Total NAV 14.54 bn 3.27 bn NAV/Share 2.3466 0.5272 1.90 -1% Key trading figures as at 19 April 2022 1.65 -10% Price/Share 2.1000 0.4590 1.40 -19% Price/GDR 105.23 23.00 Market Capitalization1
Slide 15: Shareholder structure
Shareholder structure Evolution (% Held)1 2% 2% 3% 3% 6% 3% 3% 10% 10% 8% 12% 10% 6% 4% 3% 12% 14% 14% 4% 3% 10% 3% 18% 3% 5% 6% 20% 3% 3% 3% 3% 14% 14% 54% 25% 22% 3% 17% 15% 43% 55% 53% 12% 15% 16% 14% 14% 17% 6% 18% 28% 22% 18% 17% 16% 31% 34% 37% 35% 30% 39% 37% 9% 27% 33% 34% 34% 34% 9% 13% 19%
Slide 16: NAV, Share price and GDR Performance
NAV, Share price and GDR Performance Since Q1 Performance 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Inception2 NAV (RON) (0.5)% 8.9% 13.3% 1.4% (0.6)% 7.3% 13.1% 19.9% 31.2% 2.2% 47.8% 3.7% 270.5% Cumulative Share Price Performance1 (RON) (30.3)% 38.3% 61.3% 14.5% (4.1)% 4.9% 21.5%
Slide 17: Portfolio
Portfolio — 7 = ie %
Slide 18: Portfolio Structure
Portfolio Structure Listed vs Unlisted By Sector (% of NAV as at 31 March 2022)1 (% of NAV as at 31 March 2022)1 0.2% 0.8% 1.7% 7.8% 7.8% 6.6% 7.2% 8.6% 5.5% 68.3% 85.6% Power Utilities: Generation Heavy industry Unlisted Listed Net Cash & receivables Oil & Gas Aluminium Power & Gas Utilities: Net C
Slide 19: Largest Holdings by NAV
Largest Holdings by NAV NAV as at % in NAV Majority % FP 31 March 2022 as at Portfolio Company Status Shareholder Stake1 (USD mn) 31 March 2022 Hidroelectrica Unlisted Romanian State 19.9% 2,229.8 68.3% OMV Petrom Listed OMV 2.9%2 178.3 5.5% Bucharest Airports Unlisted Romanian State 20.0% 151.5 4.6
Slide 20: Top 10 portfolio holdings – Net result evolution
Top 10 portfolio holdings – Net result evolution Net Result (RON mn) Top 10 Holdings1 2016 2017 2018 2019 2020 Hidroelectrica 1,227.7 1,296.5 1,939.3 1,386.5 1,443.2 OMV Petrom 1,037.7 2,489.3 4,077.8 3,634.6 1,291.0 Bucharest Airports 224.7 290.7 371.8 359.6 (146.4) Engie Romania 384.9 342.6 428.7
Slide 21: Corporate Actions
Corporate Actions FONDUL @. FRANKLIN -° TEMPLETON
Slide 22: 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 1,508.1 821.5 25.4% 29% 2,000 18.3% 21.9% 17.5% 18.3% 23% 1,500 583.1 600.0 832.5 15.5% 328.1 1,121.5 14.8% 17% 10.5% 236.6 812.6 1,000 484.4
Slide 23: Cash distribution recommendation for FY 2021
Cash distribution recommendation for FY 2021 Main dates related to the proposed gross cash distribution 2 June 2022 as the Ex – Date 3 June 2022 as the Registration Date 27 June 2022 as the Payment Date Accounting profit and distributable amount Taken into consideration • The Fund reported an audite
Slide 24: 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 25: 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 shares1 The cancellation of shares will Jan – Auerbach Grayson, Thirteenth Ongoing 800.00 mn/12.48% 2.00862 be subject to sharehold
Slide 26: Total dividend income from portfolio companies
Total dividend income from portfolio companies FP Net Dividend (RON mn) 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total Dividends from Listed Companies (RON mn) 373.9 538.6 251.5 36.0 148.1 199.6 223.0 200.2 117.0 Total Dividends from Unlisted Companies (RON mn) 275.81 143.5 315.9 315.2 404.5 366
Slide 27: Financial results
Financial results FONDUL | QERANELIN » TEMPLETON 3) FRANKLIN @. TEMPLETON
Slide 28: Statement of Financial Position
Statement of Financial Position 31 December 2021 31 December 2020 RON mn Audited Audited Cash and current accounts 68.2 34.4 Deposits with banks 347.4 660.0 Government bonds 77.1 380.3 Equity investments 12,577.7 9,246.7 Non-current assets held for sale 1,135.20 ‒ Other assets 0.3 0.6 Total assets 1
Slide 29: Statement of Comprehensive Income
Statement of Comprehensive Income 2021 2020 RON mn Audited Audited Gross dividend income 655.1 1,218.7 Unrealised gain from equity investments at fair value through profit or loss 4,591.1 329.6 Unrealised loss from equity investments at fair value through profit or loss (135.4) (1,432.8) Realised lo
Slide 30: Thank You
Fondul Proprietatea Premium Point Buzesti Street 76-80, 1st District Bucharest 011017 www.fondulproprietatea.ro Thank You
Slide 31: Questions & Answers
Questions & Answers 30
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