Eurocastle Investment Limited · EURONEXT:ECT

Eurocastle Investment — Investor Presentation (November 2019)

8 slides from Eurocastle Investment's investor presentation, Nov 19, 2019

  1. Slide 1: Investor Presentation November 19, 2019

    EUROCASTLE INVESTMENT LIMITED Investor Presentation November 19, 2019

  2. Slide 2: Disclaimers

    Disclaimers This document and its contents contain statements about future events and expectations that are forward-looking statements. These statements typically contain words such as “expects”, “believes”, “estimated”, “will”, “intends”, “could”, “should”, “shall”, “risk”, “estimates”, “aims”, “pl

  3. Slide 3: Eurocastle Created Significant Value for Shareholders

    Eurocastle Created Significant Value for Shareholders  Since refocusing on Italian NPL investments in 2013, Eurocastle invested €519 million and currently owns:  15.04 million shares of doValue (DOV:IM), formerly doBank, Europe’s #1 independent pure servicer  Interests in 24 pools of Italian NPLs

  4. Slide 4: Realisation Plan Overview

    Realisation Plan Overview  Realisation plan aims at accelerating distributions of the existing assets to shareholders  Identified an optimum way to realise its largest assets, doValue and NPLs, through a combined share / cash tender offer at a fixed ratio  Returns in excess of 90% of Q3 2019 NAV(

  5. Slide 5: Combined Share / Cash Tender Mechanics

    Combined Share / Cash Tender Mechanics  Tender value of €281.2 million represents:  15 million doValue shares at €11.44(1) per share  Distributable NPL cash proceeds of €109.2 million  For each ECT share, tenderers receive approximately 0.4353 DOV shares plus €3.16 ps of NPL cash – equates to €8

  6. Slide 6: What’s Left Post Tender

    What’s Left Post Tender  Net of reserves, value of remaining shares same as the tender value of €8.14 per share Remaining Assets post Tender Basis Value ECT remaining interests in 1 Italian RE Funds 3 Italian RE Funds €13.9 m (net of asset specific reserves) 5% interest retained in 3 2 NPLs NPL Poo

  7. Slide 7: Italian Real Estate Funds

    Italian Real Estate Funds Remaining Interests in three Italian Real Estate Funds  Focused on realising value  Realised €12 million in Q3 2019 representing more than 60% of the Q2 2019 NAV of the relevant funds:  €6.7 million from RE Fund I  €5 million from RE Fund II Investment Summary Fund Fund

  8. Slide 8: doValue Update

    doValue Update(1) Southern Europe’s leader in services for NPE and Real Estate Investors - €140 bn(2) combined AUM (DOV:IM)  Earnings demonstrate continuous growth:  44% YoY increase in gross revenues (or 5% YoY growth pro forma for Altamira in 2018)  YTD 2019 EBITDA of €90.6 million and Net Inco

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