Ab Artea Bankas · OMXVSE:ROE1L
Ab Artea Bankas — Capitalica European Office Fund — Debt Investor Presentation (September 2026)
49 slides from Ab Artea Bankas's debt investor presentation, September 2026
Slide 1: Development Project by Capitalica European Office Fund
DEVELOPMENT PROJECT BY CAPITALICA EUROPEAN OFFICE FUND Investor Presentation September 2026 (3rd Tranche)
Slide 2: Disclaimer
DISCLAIMER This investor presentation (the “Investor Presentation”) contains key information on the dematerialised bonds (the “Bonds” or “Bond Issue”) anticipated to be issued by the investment company for closed-end informed investors CAPITALICA EUROPEAN OFFICE FUND, UAB (the “Company” or “Issuer”)
Slide 3: Executive Summary
E X E C U T I V E S U M M A RY Capitalica Asset Management and Bond issue for VERDE C&D ▪ Capitalica Asset Management is a Lithuania-based investment management company. The company, through 4 investment funds, develops and manages commercial real estate with EUR 275 million in assets under manageme
Slide 4: Table of Contents
TA B L E O F C O N T E N T S 1. GROUP & THE ISSUER 5 2. TEAM 11 3. VERDE PROJECT OVERVIEW 15 4. MARKET OVERVIEW 27 5. BOND TERMS 30 6. RISKS OVERVIEW 34 7. KEY FINANCIALS 46 4
Slide 5: 1. Group & the Issuer
1. GROUP & THE ISSUER HII 2 TT VERDE Developed by <1 CAPITALICA
Slide 6: Capitalica: Part of SBA Group
C A P I TA L I C A : PA R T O F S B A G R O U P >445 MEUR* >275 MEUR** Management company Capitalica Asset Management was established in 2016 by the SBA Group (70% ownership), together with Fox Holding, controlled by Andrius Barstys (30% ownership in CAM). Since then, Andrius Barstys has been the CE
Slide 7: Capitalica Asset Management
C A P I TA L I C A A S S E T MANAGEMENT Assets under Management 275 mEUR Properties under 100k m2 management, GLA Properties under 35k m2 development, GBA Occupancy rate of 93 % managed objects Properties in Baltics 14 Closed-ended funds 4 August 2026 figures 7
Slide 8: Capitalica Properties Overview
CAPITALICA PROPERTIES OVERVIEW 11 CASH FLOW PROPERTIES A picture containing outdoor, apartment building Description automatically generated BC “VERDE A & B” BC “DOKAS” BC “135” BC “S18” Shopping Center LUIZĖ Industrial S911 1 ONGOING Riga, Latvia Kaunas, Lithuania Vilnius, Lithuania Vilnius, Lithuan
Slide 9: Latest Fund: Capitalica European Office Fund
L AT E S T F U N D : C A P I TA L I C A E U R O P E A N OFFICE FUND Target AuM 150 mEUR Current AuM 40.2 mEUR Equity 15.6 mEUR Current IRR 12,1 % Return since inception 57,0 % 1-st property of the fund 2-nd property of the fund Business Center „S18” Ongoing „VERDE C&D” development Vilnius, Lithuania
Slide 10: Fund Structure: Capitalica European Office Fund
FUND SRUCTURE: C A P I TA L I C A EUROPEAN OFFICE FUND 10
Slide 11: 2. Team
2. TEAM HII 2 WW VERDE Developed by SET
Slide 12: Capitalica Key Personnel
C A P I TA L I C A K E Y P E R S O N N E L ANDRIUS AURIMAS GINTARAS GABRIELĖ BARŠTYS DŪDONIS TOLOČKA GEGEVIČIŪTĖ CEO CFO Fund Manager Fund Manager Our experience in the field of finance and real estate development and management allows us to >20 years of experience in the capital and >12 years of wo
Slide 13: Capitalica Management Board
C A P I TA L I C A M A N A G E M E M E N T B O A R D ANDRIUS NERIJUS JOLANTA ADAM SAULIUS BARŠTYS AUKŠČIŪNAS GRAŠIENĖ VAINA Chairman Board member Board member Board member of the board Capitalica Asset Management | Head of Treasury at SBA Group Vice-president at SBA Group SBA Group board member| Dir
Slide 14: General Contractor
G E N E R A L C O N T R A C TO R Capitalica Industries, a certified general contractor registered in Latvia, is part of the Capitalica Asset Management group. The company’s mission is to initiate and ensure the timely completion of projects within the designated budget. Its portfolio features the de
Slide 15: 3. VERDE Project Overview
3 . V E R D E P R O J E C T O V E RV I E W 15
Slide 16: One Step to New CBD and Historical Center
O N E S T E P TO N E W C B D A N D H I S TO R I C A L C E N T E R The Verde complex (current A&B buildings, which belong to another Capitalica fund - CBREFI) is already an essential landmark of Skanste’s modern business district. However, with the construction of the C&D buildings, Verde will become
Slide 17: The Master Plan of Verde Quarter
THE MASTER PLAN OF VERDE QUARTER D D D A A A C B C B C B C O M M O N C O U R T YA R D T H E C E N T R A L PAT H GREEN CONNECTIONS One common green space, together with The volumes are placed strategically in The main pedestrian path, spanning VERDE site, forms the quarters’ internal order to achieve
Slide 18: Business Oasis Where Innovation Meets Nature
B U S I N E S S O A S I S W H E R E I N N O VAT I O N M E E T S N AT U R E 18
Slide 19: Business Oasis Where Innovation Meets History
B U S I N E S S O A S I S W H E R E I N N O VAT I O N M E E T S H I S TO RY 19
Slide 20: Class A+ Energy Efficiency
CLASS A+ ENERGY EFFICIENCY ▪ Targeting BREEAM Outstanding certificate ▪ Targeting nZEB – Nearly zero energy building ▪ Intelligent Building management system (BMS) ▪ Highest standard Heating Ventilation and Air Conditioning (HVAC) system ▪ CO 2 sensors, air humidification, chilled beams systems ▪ Na
Slide 21: Key Figures: Stage C & D
K E Y F I G U R E S : S TA G E C & D 1000 m2 green roof terrace in 2 new buildings: C&D each building 6 floors in each building 250 parking lots 22 500 m2 total leasable area 100 bicycle parking lots up to 1600 m2 on each floor C up to 2800 m2 on each floor D Verde A&B leased 100% 2500 employees Af
Slide 22: Green Roofs on the Top of the Buildings
G R E E N R O O F S O N T H E TO P O F T H E B U I L D I N G S 22
Slide 23: Verde Timeline: From A&B to C&D
VERDE TIMELINE: FROM A&B to C&D November July April May April May Jan/Feb Start of Building A Commissioning Approved Minimal Finalizing 0 cycle Commissioning Commissioning building A commissioning of building B composition works for building C & of building D & construction project building C Tenant
Slide 24: Verde C&D Financing Structure
VERDE C&D FINANCING STRUCTURE To be raised during 2026/2027 2 tranches in Feb and May 2026 Bonds to be raised during 2026/2027 24
Slide 25: Construction Progress, Sep 2026
CONSTRUCTION PROGRESS, SEP 2026 25
Slide 26: Verde C&D Leasing Status
V E R D E C & D L E A S I N G S TAT U S A S O F S E P 2 0 2 6 Verde C Verde D TOTAL GLA, sqm 8,150 14,400 22,550 Lease agreements ~630 (7.7%) - ~630 (2.8%) signed, sqm (%) LOI signed, sqm (%) ~2,110 (25.9%) ~1,000 (6.9%) ~3,740 (16.6%) Close to LOI, sqm (%) ~400 (4.9%) - ~400 (1.8%) LOI – Letter Of
Slide 27: 4. Market Overview
4. MARKET OVERVIEW HII 2 TT VERDE Developed by <1 CAPITALICA
Slide 28: Why Offices in Riga?
WHY OFFICES IN RIGA? • By the end of year 2025 Office stock in all three Baltic capitals exceeded 3,0 million sqm and only less than 25% of that stock were in Riga; • Vilnius has 2,0x times and Tallinn 1,5x times more Office stock sqm than Riga; • Moreover, only ~37% of Office stock in Riga is quite
Slide 29: Verde A&B 100% Leased with Top Tier Tenants
VERDE A&B (30,000 M2 GLA) 1 0 0 % I S L E A S E D W I T H TO P T I E R T E N A N T S A: 2022 10th floor B: 2024 10th floor 9th floor 9th floor 8th floor 8th floor 7th floor 7th floor 6th floor 6th floor 5th floor 5th floor 4th floor 4th floor 3rd floor 3rd floor 2nd floor 2nd floor 1st floor 1st flo
Slide 30: 5. Bond Terms
5. BOND TERMS HII 2 TT VERDE Developed by <1 CAPITALICA
Slide 31: Key Terms & Subscription of the Bonds Issuance (I/III)
KEY TERMS & SUBSCRIPTION OF THE BONDS ISSUANCE (I/III) Closed-end investment company for informed investors ISSUER CAPITALICA EUROPEAN OFFICE FUND, UAB SECURITIES Unsecured Fixed Rate Bonds ISIN CODE LT0000136970 ISSUE SIZE Up to EUR 12,000,000 SIZE OF THE 3rd TRANCHE Up to EUR 2,000,000 TYPE OF PLA
Slide 32: Key Terms & Subscription of the Bonds Issuance (II/III)
KEY TERMS & SUBSCRIPTION OF THE BONDS ISSUANCE (II/III) @101% after 6 months from the issue date of 1st tranche EARLY REDEMPTION @100.5% between 12 and 18 months from the issue date of 1st tranche @100% after 18 months from the issue date of 1st tranche TRUSTEE UAB “Audifina” LEAD MANAGER AB Artea b
Slide 33: Key Terms & Subscription of the Bonds Issuance (III/III)
KEY TERMS & SUBSCRIPTION OF THE BONDS ISSUANCE (III/III) To invest, a securities account is required. If you do not have one yet, you can open it at any financial institution in Lithuania and Estonia that provides investment services. You can subscribe to the Bonds by submitting orders through any f
Slide 34: 6. Risks Overview
6. RISKS OVERVIEW HII 2 TT VERDE Developed by <1 CAPITALICA
Slide 35: Risks Overview
• Investing in the Bonds issued by the Company entails various risks. Each prospective investor in the Bonds should thoroughly consider all the information presented in the Information Document, including the risk factors described below. Any of the risk factors described below, or additional risks
Slide 36: Risks Associated to the Issuer
R I S K S A S S O C I AT E D TO T H E I S S U E R CONSTRUCTION COST AND Phase C and phase D (approximately 22,500 m² of gross leasable area (GLA) across two buildings) represent a significant expansion of the VERDE PROJECT'S SUCCESS RISK Complex with capital expenditure (CAPEX) across both phases of
Slide 37: Risks Associated to the Issuer
R I S K S A S S O C I AT E D TO T H E I S S U E R Subordination and security risk Under the loan agreement(s) between the Issuer and its subsidiary, SIA VERDE DEVELOPMENT, the Issuer’s claims against the subsidiary are fully subordinated in favor of JSC “Rietumu Banka” until the subsidiary has fully
Slide 38: Risks Associated to the Issuer
R I S K S A S S O C I AT E D TO T H E I S S U E R Valuation risk The value of office development projects is highly sensitive to changes in market assumptions, including achievable market rents, vacancy levels, tenant incentives (such as rent-free periods and fit-out contributions), lease lengths, o
Slide 39: Risks Associated to the Issuer
R I S K S A S S O C I AT E D TO T H E I S S U E R Credit and default risk The Bonds are being issued to finance phases C&D of the VERDE Complex. As phase C and D of the VERDE Project are currently under development, the ability to generate stable operating income from these phases will depend on the
Slide 40: Risks Associated to the Issuer
R I S K S A S S O C I AT E D TO T H E I S S U E R Riga office market risk The real estate market is inherently cyclical and may be volatile, and there is a risk that real estate investments may lose value over time. Since the Issuer’s activities are closely tied to the development and leasing of rea
Slide 41: Risks Associated to the Issuer
R I S K S A S S O C I AT E D TO T H E I S S U E R Geopolitical and regional risk The Group carries out its business activities primarily in Baltics. Consequently, the Group’s operations and the development of the VERDE Complex may be affected by geopolitical tensions, regional instability, and chang
Slide 42: Risks Associated with the Bonds
R I S K S A S S O C I AT E D W I T H T H E B O N D S No limitation on additional debt The Issuer is not restricted under this Document from taking on additional debt to finance the VERDE Complex or other projects of the Group. Any additional debt could increase the Issuer’s financial obligations and
Slide 43: Risks Associated with the Bonds
R I S K S A S S O C I AT E D W I T H T H E B O N D S Interest rate risk The Bonds will offer a fixed annual interest rate of 8 % calculated on their outstanding Nominal Value. This interest rate will remain constant until the Final Maturity Date, regardless of changes in broader capital market condi
Slide 44: Risks Associated with the Bonds
R I S K S A S S O C I AT E D W I T H T H E B O N D S Transaction costs/charges No expenses or taxes will be charged to the Investors by the Issuer in respect to the Offering and admission of the Bonds to trading on the First North. However, when the Bonds are purchased/subscribed or sold, several ty
Slide 45: Risks Associated with the Bonds
R I S K S A S S O C I AT E D W I T H T H E B O N D S Bonds may not be appropriate to The suitability of the Bonds as an investment varies for each Investor. Before investing, potential Investors should assess their financial resources and some Investors liquidity to manage risks, including potential
Slide 46: 7. Key Financials
7. KEY FINANCIALS HII 2 TT VERDE Developed by <1 CAPITALICA
Slide 47: Consolidated Financials
C O N S O L I D AT E D F I N A N C I A L S BALANCE SHEET, EUR TH. 2023 2024 2025 INCOME STATEMENT, EUR TH Investment property 11 373 14 124 20 810 Right-of-use assets 19 19 19 2023 2024 2025 Other non-curent financial assets - - 150 Total non-current assets 11 392 14 143 20 979 Sales revenue 660 916
Slide 48: Contacts
CONTACTS Gintaras Toločka Aurimas Dūdonis Artea Bankas Capitalica European Office Fund Capitalica Asset Management Fund Manager Chief Financial Officer +370 5 2103354 +370 618 08 385 +370 662 95 286 broker@artea.lt gintaras.tolocka@capitalica.lt aurimas.dudonis@capitalica.lt 48
Slide 49: Verde – Greenest Offices in Riga
III] veRDE TET LD Greenest OFFICES IN RIGA www.verde.l|v
Capitalica European Office Fund — Debt Investor Presentation (September 2026) on 6ix