Slide 1: Investor Presentation 2022-2023
Investor Presentation 2022-2023
Slide 2: Disclaimer
Disclaimer • This presentation does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any securities of TINC nor should it or any part of it form the basis of or be relied on in connection with
Slide 3: Creating sustainable value by investing in the infrastructure for the world of tomorrow
CREATING SUSTAINABLE VALUE BY INVESTING IN THE INFRASTRUCTURE FOR THE WORLD OF TOMORROW
Slide 4: About TINC
About TINC 4 TINC Investor Presentation 2022-2023
Slide 5: TINC is inspired by significant societal trends
TINC is inspired by significant societal trends Low-carbon world Digitisation Building Back Better Care and wellbeing 5 TINC Investor Presentation 2022-2023
Slide 6: TINC invests in four segments
TINC invests in four segments Public Energy Digital Selective Infrastructure Infrastructure Infrastructure Real Estate 6 TINC Investor Presentation 2022-2023
Slide 7: Key figures 2022-2023 (18 months)
Key figures 2022-2023 (18months) Fair value per segment Fair value per country 5% 19% 6% 91 154 33% Total % % € 468* of total of total million 32% 98 21% 57% * 8,10% weighted 124 average 27% discount rate Public Infrastructure Energy Infrastructure Digital Infrastructure Selective Real Estate Belgiu
Slide 8: Key figures 2022-2023 (18 months)
Key figures 2022-2023 (18months) Balance sheet Available funding 30 June 31December Period ending: 2022 2023 Balance sheet (thousands of €) 12 months 18 months Fair value (FV) of the portfolio companies 415,437 468,356.7 • Cash of €27.4 million Deferred tax 410 119.2 • Bank credit lines of €150 mill
Slide 9: TINC share
TINC share NAV per share / Price per share Growth of distribution per share (in euro cents) 4.94% 5.22% -0.71% 3.22% -13.60% 67.31% 92.76% 60.86% 78.63% 60.00% 14.0 2.0 1.8 13.5 1.6 13.0 1.4 1.40 1.2 12.5 1.0 12.0 0.85 0.8 0.74 0.69 0.6 0.55 0.84 11.5 0.4 0.50 0.51 0.52 0.54 11.0 0.2 10.5 0.0 30 Jun
Slide 10: Investment portfolio
Investment portfolio 10 TINC Investor Presentation 2022-2023
Slide 11: Sustainability in the investment portfolio
Sustainability in the investment portfolio Participations in the investment portfolio contribute to fulfilling the United Nations Sustainable Development Goals.* * www.undg.org/sustainable-development-goals 11 TINC Investor Presentation 2022-2023
Slide 12: Sustainability in the investment portfolio
Sustainability in the investment portfolio Storm is a Belgian developer and Datacenter United builds and Réseau Abilis offers a qualitative and GlasDraad is helping to accelerate the The A11 is a new highway connection operator of renewable energy projects manages data centres to provide its inclusi
Slide 13: Why invest in TINC?
Why invest in TINC? Obtain access to a capital-intensive asset class Portfolio diversification over 4 key investment segments with typically a business model offering long-term visibility on both revenue and cost Prudent financial management and use of leverage Track record of disciplined portfolio
Slide 14: Public Infrastructure
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Slide 15: Public Infrastructure Key figures
Public Infrastructure Key figures Share of the total Number of Fair value (FV) Weighted average investment portfolio (FV) participations discount rate 8 154 7 % 33% Public Infrastructure Other 67% (in millions of €) 15 TINC Investor Presentation 2022-2023
Slide 16: Participations
Participations 16 TINC Investor Presentation 2022-2023
Slide 17: Higher Education Buildings
Public Infrastructure Higher Education New Buildings Higher Education Buildings is a public-private partnership for the construction, financing and long-term maintenance of new university buildings at six locations in Ireland. With a total budget of €250 million, this project will deliver roughly 38
Slide 18: Participations: A15 Maasvlakte-Vaanplein, Brabo 1
Public Infrastructure Participations A15 Brabo I A15 Maasvlakte-Vaanplein is a public-private partnership for the construction, financing, and Brabo 1 is a public-private partnership for the construction, financing, and long-term maintenance long-term maintenance (DBFM) of roadworks to improve traff
Slide 19: Participations: L'Hourgnette, Princess Beatrix Lock
Public Infrastructure Participations L’Hourgnette Princess Beatrix Lock L’Hourgnette is a public-private partnership for the construction, financing, and long-term The Princess Beatrix Lock is a public-private partnership for the construction, financing, and long- maintenance of a detention centre f
Slide 20: Participations: Higher Education Buildings, Social Housing Ireland
Public Infrastructure Participations Higher Education Buildings Social Housing Ireland Higher Education Buildings is a public-private partnership for the construction, financing, and Social Housing Ireland is a public-private partnership for the construction, financing, and long-term long-term maint
Slide 21: Participations: Via A11, Via R4 Gent
Public Infrastructure Participations Via A11 Via R4 Gent Via A11 is a public-private partnership for the construction, financing, and long-term maintenance Via R4 Ghent is a public-private partnership for the construction, financing and long-term (DBFM) of a 12-kilometre motorway link to connect the
Slide 22: Public Infrastructure financial key figures
Public Infrastructure Financial key figures for the segment Weighted average Weighted average Weighted average debt ratio remaining maturity of debt1 remaining contract life 74.7 % 20.9 (in years) 1 Fully amortising over the useful life of the infrastructure with a 21.9 (in years) 30 June 2022: 75.4
Slide 23: Energy Infrastructure
Energy Infrastructure
Slide 24: Energy Infrastructure Key figures
Energy Infrastructure Key figures Share of the total Number of Fair value (FV) Weighted average investment portfolio (FV) participations discount rate 11 124 8.9 73% Energy Infrastructure % Other (in millions of €) 27% 24 TINC Investor Presentation 2022-2023
Slide 25: Participations
Energy Infrastructure Participations 25 TINC Investor Presentation 2022-2023
Slide 26: Participations: Kroningswind, Zelfstroom
Energy Infrastructure Participations Kroningswind Zelfstroom Kroningswind is an onshore windfarm on the island of Goeree-Overflakkee in South Holland, located Zelfstroom is the Netherlands’ largest provider of rental solar panels to private property owners. on farmland between the towns of Stellenda
Slide 27: Participations: Berlare Wind, Kreekraksluis
Energy Infrastructure Participations Berlare Wind Kreekraksluis Berlare Wind is an onshore windfarm in the municipality of Berlare in Belgium. The windfarm Kreekraksluis windfarm is an onshore windfarm on and near the Kreekraksluizen locks in consists of four Enercon E-82 2.3MW wind turbines with a
Slide 28: Participations: Lowtide, Nobelwind
Energy Infrastructure Participations Lowtide Nobelwind Lowtide includes 23 solar power plants in Flanders with a total generation capacity of 6.7MWp. Nobelwind is an offshore windfarm located 46km off the Belgian coast. The windfarm consists of The power is mostly used by local industrial customers.
Slide 29: Participations: Northwind, Solar Finance
Energy Infrastructure Participations Northwind Solar Finance Northwind is an offshore windfarm located 37 km off the Belgian coast. The windfarm consists of Solar Finance NV consists of 48 solar power plants in Flanders with a total generation capacity of 72 V112 3MW wind turbines with a total outpu
Slide 30: Participations: Storm Ireland, Storm
Energy Infrastructure Participations Storm Ireland Storm Storm Ireland is an onshore windfarm in County Offaly, Ireland. The windfarm consists of 4 turbines Storm is a portfolio of onshore windfarms in Belgium. The portfolio consists of 56 turbines with with a total capacity of approximately 11MW. a
Slide 31: Participations: Sunroof
Energy Infrastructure Participations Sunroof Sunroof consists of 19 solar power plants across Flanders with a total generation capacity of 11.7MW. A substantial part of the power is used locally, while the remainder is fed into the grid. Stake 50% 31 TINC Investor Presentation 2022-2023
Slide 32: Energy Infrastructure financial key figures
Energy Infrastructure Financial key figures for the segment Valuation sensitivity analysis 124,355 Weighted average debt ratio Weighted average (not including offshore) remaining maturity of debt1 E n e r g y p r o d u c t i o n -/+ 5% 51.8 13.2 (12,767) 13,352 % 1 Fully amortising over the useful l
Slide 33: Digital Infrastructure
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Slide 34: Digital Infrastructure Key figures
Digitale Infrastructure Key figures Share of the total Number of Fair value (FV) Weighted average investment portfolio (FV) participations discount rate 79% Digital Infrastructure Other 3 98 (in millions of €) 8.91 % 21% 34 TINC Investor Presentation 2022-2023
Slide 35: Participations
Participations 35 TINC Investor Presentation 2022-2023
Slide 36: NGE Fibre
Digitale Infrastructure NGE Fibre New NGE Fibre is a bundle of operational fibre optic network concessions located in France’s Grand Est region, near the Belgian border. They form part of France’s ‘Plan Très Haut Débit’ investment programme, which aims to roll out super-fast internet access in the F
Slide 37: GlasDraad
Digitale Infrastructure GlasDraad GlasDraad was founded in 2017 on the initiative of TINC to provide residents and businesses in rural parts of the Netherlands access to a super-fast, reliable, and affordable fibre network. GlasDraad creates network connections based on actual demand from residents
Slide 38: Datacenter United
Digitale Infrastructure Datacenter United Datacenter United owns and operates nine data centres in Belgium and provides scalable and reliable collocation services and related services (such as connectivity) to a wide range of customers. Datacenter United is the only operator in Belgium whose data ce
Slide 39: Digital Infrastructure financial key figures
Digitale Infrastructure Financial key figures for the segment Valuation sensitivity analysis Weighted average Weighted average debt ratio remaining maturity of debt 98,415 45.0 % 16.0 (in years) Inflation -/+ 0.5% (5,811) 6,413 30 June 2022: 29.7% 30 June 2022: 5.4 D i s c o u n t rate (3,129) 3,316
Slide 40: Selective Real Estate
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Slide 41: Selective Real Estate Key figures
Selective Real Estate Key figures Share of the total Number of Fair value (FV) Weighted average investment portfolio (FV) participations discount rate 19% Selective Real Estate Other 6 91 (in millions of €) 8.18 % 81% 41 TINC Investor Presentation 2022-2023
Slide 42: Participations
Selective Real Estate Participations Belgium De Haan Vakantiehuizen Yally Obelisc The Netherlands Réseau Abilis Garagepark Eemplein 42 TINC Investor Presentation 2022-2023
Slide 43: Yally
Selective Real Estate Yally New In September 2022, TINC launched Yally, an initiative to buy existing residential properties in and around major Belgian cities, make them more energy efficient and let them out. Yally aims to maximise comfort and reduce total housing costs by integrating smart techno
Slide 44: Obelisc
Selective Real Estate Obelisc New Right in the heart of Belgium’s largest biotech cluster in Ghent stands Obelisc, a state-of-the-art business service centre dedicated to supporting biotech companies. This ultra-modern business centre has separate units available to let and offers extensive support
Slide 45: Participation: De Haan Vakantiehuizen, Eemplein car park
Selective Real Estate Participation De Haan Vakantiehuizen Eemplein car park De Haan Vakantiehuizen owns 347 holiday homes at the Center Parcs holiday park in De Haan. The Eemplein car park is located in the Dutch city of Amersfoort and has 625 underground parking spaces. The plaza above it has a co
Slide 46: Participation: Réseau Abilis, GaragePark
Selective Real Estate Participation Réseau Abilis GaragePark Réseau Abilis comprises a growing network of specialised residences that provide life-long residential Headquartered in Blaricum (NL), GaragePark develops and operates innovative multifunctional care to people with special needs at 26 site
Slide 47: Selective Real Estate financial key figures
Selective Real Estate Financial key figures for the segment Valuation sensitivity analysis Weighted average Weighted average 91,093 debt ratio remaining maturity of debt 47.3 % 13.2 Inflation (2,714) 2,819 -/+ 0.5% (in years) D i s c o u n t rate 30 June 2022: 45.1% 30 June 2022: 15.9 +/- 0.5% (3,613
Slide 48: Appendix
APPENDIX
Slide 49: Key figures 2022-2023 (18 months)
Key figures 2022-2023 (18 months) Key figures (in ‘000 €) 30 Jun 30 Jun 30 Jun 30 Jun 31 Dec 300,000 2019 2020 2021 2022 2023* 250,000 Market capitalisation 347,727 469,091 454,545 478,545 427,273 Equity (NAV) 331,321 445,697 457,863 463,624 494,596 200,000 Fair value (FV) portfolio 267,106 340,317
Slide 50: Organizational & remuneration structure
Organizational & remuneration structure Free Float 80% 20% 100% TDP NV 2 Service provider 99,5% 1 Management ESG committee Board Statutory Director TINC Manager NV Nomination & Supervisory Board Audit Committee Renumeration 8 members Committee TINC is a limited liability company (NV/SA) under Belgia
Slide 51: Contact
TINC Karel Oomsstraat 37 2018 Antwerpen Contact Manu Vandenbulcke, CEO TINC T +32 3 290 21 73 – manu.vandenbulcke@tincinvest.com Filip Audenaert, CFO TINC T +32 3 290 21 73 – filip.audenaert@tincinvest.com