S.C. Fondul Proprietatea SA · BVB:FP
S.C. Fondul Proprietatea SA — Fondul Proprietatea — Shareholder Meeting (December 2024)
24 slides from S.C. Fondul Proprietatea SA's shareholder meeting presentation, Dec 2, 2024
Slide 1: Fondul Proprietatea – General Shareholders Meeting
Fondul Proprietatea – General Shareholders Meeting 2 December 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 (%) 31 October 2024 NAV RON USD 0.60 6% Total NAV 2.12 bn 0.46 bn 0.50 -4% NAV/Share 0.6622 0.1447 Key trading figures as at 29 November 2024 -14% 0.40 Price/Share 0.3070 0.0651 -24% Price/GDR 16.21 3.44 0.30 -34% Market Capitali
Slide 4: Shareholder structure
Shareholder structure Evolution (% Held)1 10% 2% 2% 10% 10% 3% 8% 3% 18% 6% 12% 3% 9% 13% 13% 15% 10% 10% 6% 4% 3% 3% 4% 3% 37% 37% 38% 5% 5% 14% 10% 5% 3% 3% 3% 3% 3% 3% 7% 6% 7% 16% 12% 15% 11% 11% 12% 3% 3% 2% 6% 25% 22% 20% 17% 10% 43% 3% 4% 54% 3% 2% 55% 53% 37% 30% 28% 22% 18% 13% 10% 8% 5% 2%
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)% 10.3% 357.9% (RON) Share Price (30.3)% 38.3% 61.3% 14.5% (4
Slide 6: Portfolio
Portfolio — 7 = ie %
Slide 7: Portfolio Structure
Portfolio Structure Listed vs Unlisted By Sector (% of NAV as at 31 October 2024)1 (% of NAV as at 31 October 2024)1 12.8% 12.8% 2.9% 5.9% 2.5% 5.3% 61.5% 15.1% 81.4% Unlisted Listed Net Cash & receivables Infrastructure Power utilities: Generation Salt Mining Others Aluminium Net Cash & Receivables
Slide 8: Largest Holdings by NAV
Largest Holdings by NAV NAV as at % in NAV Majority % FP 31 October 2024 as at Portfolio Company Status Shareholder Stake1 (USD mn) 31 October 2024 Bucharest Airports Unlisted Romanian State 20.0% 202.0 43.6% Constanta Port Unlisted Romanian State 20.0% 76.4 16.5% Salrom Unlisted Romanian State 49.0
Slide 9: Largest Holdings by NAV – Net result evolution
Largest Holdings by NAV – Net result evolution Net Profit (RON mn) 2019 2020 2021 2022 2023 Top Holdings1 Bucharest Airports 359.6 (146.4) 34.0 304.0 453.32 Constanta Port 108.2 130.3 130.5 114.5 195.42 Salrom 77.0 11.5 60.2 120.7 130.62 Alro SA (67.2) 334.8 26.3 409.5 (561.7)3 Complexul Energetic O
Slide 10: Bucharest Airports – Update
Bucharest Airports – Update % Financial performance 2016 2017 2018 2019 2020 2021 20221 2023 9M 2023 9M 2024 y.o.y. Operating revenues (RON 754.7 890.9 992.6 1,066.6 405.6 578.0 999.1 1,206.8 898.5 1,076.0 19.8% mn) Operating result (RON mn) 263.6 337.6 445.9 399.0 (175.3) 40.8 345.8 499.7 420.2 523
Slide 11: Constanta Ports – Update
Constanta Ports – Update % Financial performance 2016 2017 2018 2019 2020 2021 20221 2023 9M 2023 9M 2024 y.o.y. Operating revenues (RON 314.0 330.5 345.2 369.0 398.8 418.9 510.4 571.2 421.8 401.0 (4.9)% mn) Operating profit (RON mn) 54.8 93.8 95.8 117.0 145.9 140.6 131.5 195.9 180.2 264.4 46.7% Net
Slide 12: Salrom – Update
Salrom – Update Financial performance 2016 2017 2018 2019 2020 2021 2022 2023 H1 2023 H1 2024 % y.o.y. Operating revenues (RON 312.4 394.1 436.9 469.2 300.2 374.5 495.3 517.1 237.0 241.7 2.0% mn) Operating profit (RON mn) 36.3 107.3 93.5 84.6 15.8 70.1 134.4 140.8 57.5 66.1 15.0% Net Income (RON mn)
Slide 13: Corporate Actions
Corporate Actions FONDUL @. FRANKLIN -° TEMPLETON
Slide 14: 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 11,266.8 428.8 5,500 220.00% 5,000 159.8% 170.00% 4,500 4,000 1,547.0 120.00% 3,500 3,000 269.7 70.00% 2,500 25.4% 15.5% 21.9%
Slide 15: Cash distributions to shareholders
Cash distributions to shareholders Gross Cash distribution Net Cash distribution Distribution Financial year Paid in (RON/share) (RON/share) Dividend (Special) 2008-2009 (aggregate) 2010 0.08160 0.06854 Dividend (Annual) 2010 2011 0.03141 0.02638 Dividend (Annual) 2011 2012 0.03854 0.03237 Dividend
Slide 16: 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 Jan – Auerbach Grayson, 14th Finalized 2.11 bn / 37.26% 0.86002 Finalized Dec 2023 Swiss Capital The cancellation of 8 A
Slide 17: Thirteenth Tender Offer
Thirteenth Tender Offer Size of the Offer Purchase price Subscription period 269,000,000 shares in the form of shares and / or GDRs RON 0.6622 per share and the USD 11 September – 25 September 2024 equivalent of RON 33.1100 per GDR • 255,522,800 in the form of shares • 13,477,200 shares in the form
Slide 18: Total dividend income from portfolio companies
Total dividend income from portfolio companies FP Net Dividend RON 2015 2016 2017 2018 2019 2020 2021 2022 2023 202412 Total Dividends from Listed Companies (mn) 251.5 36.0 148.1 199.6 223.0 200.2 117.0 127.7 0.9 0.5 Total Dividends from Unlisted Companies (mn) 315.9 315.2 404.5 366.9 710.0 1,007.9
Slide 19: 2 December 2024 GSM – Main Points (I)
2 December 2024 GSM – Main Points (I) Only the persons registered as shareholders of Fondul Proprietatea on 15 November 2024 (the Reference Date) in the register of shareholders kept by Depozitarul Central S.A. have the right to participate and vote at the GSM EGM • The approval of: (a) the delistin
Slide 20: 2 December 2024 GSM – Main Points (II)
2 December 2024 GSM – Main Points (II) The approval of: 19 December 2024 as the Ex – Date; 20 December 2024 as the Registration Date OGM • The appointment for a period of three (3) years of one (1) member of the Board of Nominees of Fondul Proprietatea following the expiration of the mandate of Mr.
Slide 21: 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 22: 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 23: Thank You
Fondul Proprietatea Premium Point Buzesti Street 76-80, 1st District Bucharest 011017 www.fondulproprietatea.ro Thank You 22
Slide 24: Questions & Answers
Questions & Answers
Fondul Proprietatea — Shareholder Meeting (December 2024) on 6ix