S.C. Fondul Proprietatea SA · BVB:FP
S.C. Fondul Proprietatea SA — Fondul Proprietatea — Shareholder Meeting (September 2023)
26 slides from S.C. Fondul Proprietatea SA's shareholder meeting presentation, Sep 25, 2023
Slide 1: Fondul Proprietatea – General Shareholders Meeting
Fondul Proprietatea – General Shareholders Meeting 25 September 2023
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 (%) 0.50 8% 31 August 2023 NAV RON USD 0.45 -1% Total NAV 3.37 bn 0.74 bn 0.40 NAV/Share 0.6319 0.1391 -10% 0.35 Key trading figures as at 22 September 2023 -19% 0.30 Price/Share 0.4225 0.0905 0.25 -28% Price/GDR 21.49 4.60 0.20
Slide 4: Shareholder structure
Shareholder structure Evolution (% Held)1 2% 2% 3% 3% 6% 3% 10% 10% 8% 9% 10% 6% 4% 3% 12% 4% 13% 13% 14% 14% 10% 3% 18% 3% 3% 5% 6% 3% 15% 3% 3% 3% 3% 14% 20% 3% 17% 11% 25% 22% 12% 11% 12% 11% 11% 16% 18% 13% 6% 43% 54% 55% 37% 28% 22% 10% 7% 34% 8% 6% 53% 35% 30% 31% 37% 37% 38% 37% 37% 9% 39% 9%
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 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% (6.7)% 297.2% (RON) Share Price (30.3)% 38.3% 61.3% 14.5% (4.1)% 4.9% 2
Slide 6: Portfolio
Portfolio — 7 = ie %
Slide 7: Portfolio Structure
Portfolio Structure Listed vs Unlisted By Sector (% of NAV as at 31 August 2023)1 (% of NAV as at 31 August 2023)1 16.6% 16.6% 0.4% 4.6% 3.4% 35.5% 0.6% 9.7% 78.9% 33.8% Unlisted Listed Net Cash & receivables Infrastructure Aluminium Power & Gas Utilities: Transport, Postal Services Distribution & S
Slide 8: Largest Holdings by NAV
Largest Holdings by NAV NAV as at % in NAV Majority % FP 31 August 2023 as at Portfolio Company Status Shareholder Stake1 (USD mn) 31 August 2023 Bucharest Airports Unlisted Romanian State 20.0% 182.2 24.6% Engie Romania Unlisted Engie 12.0% 107.9 14.5% Constanta Port Unlisted Romanian State 20.0% 6
Slide 9: Largest Holdings by NAV – Net result evolution
Largest Holdings by NAV – Net result evolution Net Profit (RON mn) Top Holdings1 2017 2018 2019 2020 2021 2022 Bucharest Airports 290.7 371.8 359.6 (146.4) 34.0 304.0 Engie Romania 342.6 428.7 385.2 492.8 69.9 851.9 Constanta Port 79.7 75.7 108.2 130.3 130.5 114.5 Salrom 81.1 76.4 77.0 11.5 60.2 120
Slide 10: Hidroelectrica IPO – a milestone transaction in Europe
Hidroelectrica IPO – a milestone transaction in Europe Transaction Details Key highlights Name of Company: Hidroelectrica S.A. Country: Romania • Backed by strong local and international long-only demand from Sector: 167 investors, order book was multiple times oversubscribed Utilities - Renewables
Slide 11: Hidroelectrica IPO – a milestone transaction in Europe
Hidroelectrica IPO – a milestone transaction in Europe Third largest IPO in history on a CEE Largest IPO in Romanian history Largest IPO in Europe for 2023YTD Exchange Pricing Deal Size Pricing Deal Size Pricing Deal Size Company Industry Company Industry Country Company Industry Country Date (EURmn
Slide 12: Bucharest Airports – Update
Bucharest Airports – Update Financials 2016 2017 2018 2019 2020 2021 2022 H1 2022 H1 20231 % y.o.y. Operating revenues (mn RON) 754.7 890.9 992.6 1,066.6 405.6 578.0 999.6 425.2 519.5 22.2% Operating result (mn RON) 263.6 337.6 445.9 399.0 (175.3) 40.8 344.7 160.0 247.9 54.9% Net Income / Loss (mn R
Slide 13: Constanta Ports – Update
Constanta Ports – Update Financial performance 2016 2017 2018 2019 2020 2021 2022 H1 2022 H1 2023 % y.o.y. Operating revenues (RON mn) 314.0 330.5 345.2 369.0 398.8 418.9 479.5 260.3 294.4 13.1% Operating profit (RON mn) 54.8 93.8 95.8 117.0 145.9 140.6 131.5 106.8 117.7 10.2% Net Income (RON mn) 36
Slide 14: Salrom – Update
Salrom – Update Financial performance 2016 2017 2018 2019 2020 2021 2022 H1 2022 H1 2023 % y.o.y. Operating revenues (RON mn) 312.4 394.1 436.9 469.2 300.2 374.5 495.3 195.4 237.0 21.3% Operating profit (RON mn) 36.3 107.3 93.5 84.6 15.8 70.1 134.4 41.7 57.5 37.9% Net Income (RON mn) 27.4 81.1 76.4
Slide 15: ENEL companies – Update
ENEL companies – Update E-Distributie Muntenia E-Distributie Banat E-Distributie Dobrogea Sector Power & Gas Utilities: distribution Type Unlisted Weight in NAV1 6.6% 6.3% 5.1% RON 223.5 mn RON 212.9 mn RON 170.4 mn FP NAV Value1 (USD 49.2 mn) (USD 46.9 mn) (USD 37.5 mn) Fondul Proprietatea’s Holdin
Slide 16: Corporate Actions
Corporate Actions FONDUL @. FRANKLIN -° TEMPLETON
Slide 17: 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 10,180.6 4,000 97.1% 120.00% 100.00% 3,500 492.0 80.00% 3,000 238.5 60.00% 2,500 25.4% 9,450.1 40.00% 15.5% 21.9% 14.8% 17.0%
Slide 18: Special dividend distribution
Special dividend distribution RON 1.7225 gross dividend per share1 Main dates related to the RON 1.7225 gross dividend per share distribution1 • NAV Ex-Date: 31 August 2023 • Share price Ex–Date: 7 September 2023 • Registration Date: 8 September 2023 • Payment Date: 29 September 2023 Source: 18 Augu
Slide 19: 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 20: 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, 13th Finalized 549.02 mn / 8.83% 2.10782 Ongoing Dec 2022 Swiss Capital The cancellation of Jan
Slide 21: Total dividend income from portfolio companies
Total dividend income from portfolio companies FP Net Dividend RON 2014 2015 2016 2017 2018 2019 2020 2021 2022 202312 Total Dividends from Listed Companies (mn) 538.6 251.5 36.0 148.1 199.6 223.0 200.2 117.0 127.7 0.9 Total Dividends from Unlisted Companies (mn) 143.5 315.9 315.2 404.5 366.9 710.0
Slide 22: 25 September 2023 GSM Agenda – Main Points
25 September 2023 GSM Agenda – Main Points Only the persons registered as shareholders of Fondul Proprietatea on 11 September 2023 (the Reference Date) in the register of shareholders kept by Depozitarul Central S.A. have the right to participate and vote at the GSM OGM agenda • The approval of the
Slide 23: 25 September 2023 GSM Agenda – Main Points
25 September 2023 GSM Agenda – Main Points The approval of: 12 October 2023 as Ex–Date; 13 October 2023 as Registration Date OGM agenda • Approval of the renewal of the mandate of Franklin Templeton as sole director of Fondul Proprietatea that acts also as the alternative investment fund manager of
Slide 24: 25 September 2023 GSM Agenda – Main Points
25 September 2023 GSM Agenda – Main Points The approval of: 12 October 2023 as Ex–Date; 13 October 2023 as Registration Date EGM agenda • Approval of the amendment of Article 19 paragraph (3) of the Constitutive Act of • The approval of the amendment of Article 19 paragraph (3) of the Fondul Proprie
Slide 25: Thank You
Fondul Proprietatea Premium Point Buzesti Street 76-80, 1st District Bucharest 011017 www.fondulproprietatea.ro Thank You
Slide 26: Questions & Answers
Questions & Answers 25
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